Models
LAXMI INDIA FINANCE LTDLAXMIINDIA
₹586per 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₹586implied FY26 P/E 53.1× · EV/EBITDA 14.9×
Against CMP ₹129.86+351.0%close of 2026-09-10
Growth the CMP implies(20.0)%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
₹455₹846
52-week rangetraded range, a fact not a value
₹71₹181
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 724 |
| PV of terminal value | 2,303 |
| Enterprise value | 3,026 |
| less net debt | 42 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 3,068 |
| ÷ 5.24 crore shares | ₹586 |
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% | 605 | 649 | 701 | 765 | 846 |
| 10.50% | 559 | 595 | 638 | 690 | 753 |
| 11.00% | 519 | 550 | 586 | 628 | 679 |
| 11.50% | 485 | 511 | 541 | 576 | 618 |
| 12.00% | 455 | 478 | 503 | 533 | 567 |
The outlined cell is your model. Green figures sit above the CMP of ₹129.86; 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 | 490 · 583 · 696 |
| Draws below the CMP | 0% |
| Rank correlation with discount rate | −0.67 |
| Rank correlation with ebitda margin | +0.54 |
| Rank correlation with revenue growth | +0.44 |
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 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Revenue | 317 | 342 | 370 | 399 | 431 | 466 |
| growth % | — | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 |
| EBITDA | 203 | 219 | 237 | 256 | 276 | 299 |
| margin % | 64.1 | 64.1 | 64.1 | 64.1 | 64.1 | 64.1 |
| less depreciation | (2) | (2) | (3) | (3) | (3) | (3) |
| EBIT | 201 | 217 | 234 | 253 | 273 | 295 |
| less tax on EBIT | (50) | (54) | (58) | (63) | (68) | (73) |
| NOPAT | 151 | 163 | 177 | 191 | 206 | 222 |
| add depreciation | 2 | 2 | 3 | 3 | 3 | 3 |
| less capex | (6) | (7) | (6) | (6) | (5) | (4) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 |
| Free cash flow to firm | — | 159 | 173 | 188 | 204 | 222 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |
| Present value | 151 | 148 | 145 | 142 | 139 |
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 | 201 | 217 | 234 | 253 | 273 | 295 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 217 | 234 | 253 | 273 | 295 | |
| Profit after tax | 50 | 163 | 177 | 191 | 206 | 222 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 42 | 201 | 374 | 562 | 766 | 988 |
| Working capital | 0 | 0 | 0 | 0 | 0 | 0 |
| Net block and other assets | 1,775 | 1,780 | 1,784 | 1,786 | 1,788 | 1,789 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 465 | 629 | 805 | 996 | 1,202 | 1,424 |
| Balance check | 0 | 0 | 0 | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 166 | 179 | 193 | 209 | 226 | |
| Investing (capex) | (7) | (6) | (6) | (5) | (4) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 159 | 173 | 188 | 204 | 222 | |
| Free cash flow to equity | 159 | 173 | 188 | 204 | 222 | |
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 | 8% | 64.1% | 11.00% | 5% | ₹586 | 351.0% |
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.