LAXMI DENTAL LIMITED — valuation model

LAXMI DENTAL LIMITEDLAXMIDENTLHealthcare Equipment & Supplies

₹48per share · Base Model Note

Revenue growth, the horizon and scenarios are yours to change. Every other input is part of the Trader plan; saving, sharing a saved link and the live-formula workbook are part of the Institutional plan.

Scenario

Value per share, your model₹48implied FY26 P/E 8.4× · EV/EBITDA 6.7×

Against CMP ₹204.00−76.7%close of 2026-09-10

Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs

Value after FY3176%share of enterprise value in the terminal

This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.

Where the methods land · ₹ per share · the dashed line is the CMP

DCF, rate ±1 · growth ±1your model across the sensitivity grid

₹37₹68

52-week rangetraded range, a fact not a value

₹156₹377

From enterprise to equity · ₹ crore

PV of FY27–FY31 free cash flow	61
PV of terminal value	192
Enterprise value	253
less net debt	8
less non-controlling interest	0
add non-operating investments	0
Equity value	261
÷ 5.50 crore shares	₹48

76% of the value sits after FY31. Usual when return on capital sits near the cost of capital; the 5 explicit years carry little of it.

Free cash flow, filed and modelled · ₹ '000 crore

Filed, cash from operations − capexModelled free cash flow to firm

Sensitivity · ₹ per share

Down Across

WACC ↓terminal growth →	4.0%	4.5%	5.0%	5.5%	6.0%
10.00%	49	53	57	62	68
10.50%	45	48	52	56	61
11.00%	42	45	48	51	55
11.50%	40	42	44	47	50
12.00%	37	39	41	43	46

The outlined cell is your model. Green figures sit above the CMP of ₹204.00; n/a marks a terminal growth at or above the discount rate. Steps: WACC and terminal growth ±0.5 point, growth ±2, margin ±1.

Distribution of outcomes · 4,000 draws · growth, margin and the discount rate vary together

10th · 50th · 90th percentile, ₹ per share	28 · 47 · 66
Draws below the CMP	100%
Rank correlation with ebitda margin	+0.94
Rank correlation with discount rate	−0.27
Rank correlation with revenue growth	−0.09

Each driver is drawn from a PERT distribution between the lowest and highest value across your scenarios (or ±50% growth, ±20% margin when there is one scenario), with the discount rate ±1.5 points. Seeded, so the same inputs give the same picture.

Projected cash flow to the firm · ₹ crore

History Forward

₹ crore	FY25	FY26	FY27	FY28	FY29	FY30	FY31
Revenue	239	278	322	374	434	503	584
growth %	—	16.2	16.0	16.0	16.0	16.0	16.0
EBITDA	49	38	44	50	59	68	79
margin %	20.5	13.5	13.5	13.5	13.5	13.5	13.5
less depreciation	(15)	(16)	(18)	(21)	(25)	(29)	(33)
EBIT	34	22	25	29	34	39	46
less tax on EBIT		(2)	(2)	(3)	(3)	(3)	(4)
NOPAT		20	23	27	31	36	42
add depreciation	15	16	18	21	25	29	33
less capex	(15)	(16)	(19)	(23)	(28)	(33)	(40)
less working-capital build		—	(9)	(11)	(12)	(14)	(16)
Free cash flow to firm	29	—	13	15	16	17	19
Discount factor			0.949	0.855	0.770	0.694	0.625
Present value			13	12	12	12	12

History columns are the filed years (free cash flow there is cash from operations − capex, as filed); the base year and everything to its right come from the engine. Forward is the explicit horizon of the model itself: 3, 5 or 10 years, then flat.

The three statements, projected · ₹ crore · debt held at 0, dividends at 0% of profit

₹ crore	FY26	FY27	FY28	FY29	FY30	FY31
Income statement
EBIT	22	25	29	34	39	46
Interest at 8% on debt		0	0	0	0	0
Profit before tax		25	29	34	39	46
Profit after tax	29	23	27	31	36	42
Dividends	0	0	0	0	0	0
Balance sheet, year end
Cash	8	22	36	52	69	88
Working capital	57	66	76	88	103	119
Net block and other assets	229	230	231	234	239	245
Debt	0	0	0	0	0	0
Equity	244	267	294	325	361	402
Balance check	0	(0)	(0)	(0)	(0)	(0)
Cash flow
From operations		32	37	43	50	58
Investing (capex)		(19)	(23)	(28)	(33)	(40)
Financing (dividends)		0	0	0	0	0
Net change in cash		13	15	16	17	19
Free cash flow to equity		13	15	16	17	19

Other liabilities are held at their FY26 level, so the check tests only what the model moves: cash, working capital, net block and other assets, debt and equity. A non-zero check would mean the three statements no longer tie.

Scenarios side by side · ₹ per share

Scenario	Template	Growth	Margin	Rate	Terminal	₹ / share	vs CMP
Base · editing	DCF	16%	13.5%	11.00%	5%	₹48	(76.7)%

A scenario is a full set of inputs under a name. Keep Base as the filed history carried forward; add Bull and Bear by saving the current inputs under those names and moving the two or three assumptions you actually hold a view on. The distribution above draws each driver between the lowest and highest value across your scenarios, so three scenarios give it a real range; with one scenario it falls back to fixed bands.