Models
LINC LIMITEDLINCHousehold Products
₹66per 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₹66implied FY26 P/E 12.4× · EV/EBITDA 6.5×
Against CMP ₹95.50−30.8%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3181%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
₹51₹97
52-week rangetraded range, a fact not a value
₹85₹135
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 74 |
| PV of terminal value | 311 |
| Enterprise value | 385 |
| less net debt | 7 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 392 |
| ÷ 5.93 crore shares | ₹66 |
81% 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% | 68 | 74 | 80 | 87 | 97 |
| 10.50% | 63 | 67 | 72 | 78 | 86 |
| 11.00% | 58 | 62 | 66 | 71 | 77 |
| 11.50% | 54 | 57 | 61 | 65 | 70 |
| 12.00% | 51 | 53 | 56 | 60 | 64 |
The outlined cell is your model. Green figures sit above the CMP of ₹95.50; 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 | 54 · 66 · 81 |
| Draws below the CMP | 99% |
| Rank correlation with ebitda margin | +0.77 |
| Rank correlation with discount rate | −0.61 |
| Rank correlation with revenue growth | −0.03 |
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 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 508 | 543 | 543 | 543 | 543 | 543 | 543 | 543 |
| growth % | — | 7.0 | (0.1) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| EBITDA | 56 | 64 | 59 | 60 | 60 | 60 | 60 | 60 |
| margin % | 11.1 | 11.8 | 11.0 | 11.0 | 11.0 | 11.0 | 11.0 | 11.0 |
| less depreciation | (15) | (15) | (15) | (15) | (15) | (15) | (15) | (15) |
| EBIT | 41 | 49 | 44 | 45 | 45 | 45 | 45 | 45 |
| less tax on EBIT | (11) | (12) | (12) | (12) | (12) | (12) | ||
| NOPAT | 33 | 33 | 33 | 33 | 33 | 33 | ||
| add depreciation | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| less capex | (28) | (17) | (38) | (38) | (33) | (28) | (23) | (18) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | ||
| Free cash flow to firm | 10 | 40 | — | 10 | 15 | 20 | 25 | 30 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 10 | 13 | 15 | 17 | 19 |
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 6, dividends at 27.3% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 44 | 45 | 45 | 45 | 45 | 45 |
| Interest at 8% on debt | (1) | (1) | (1) | (1) | (1) | |
| Profit before tax | 44 | 44 | 44 | 44 | 44 | |
| Profit after tax | 33 | 33 | 33 | 33 | 33 | 33 |
| Dividends | (9) | (9) | (9) | (9) | (9) | (9) |
| Balance sheet, year end | ||||||
| Cash | 13 | 14 | 20 | 31 | 47 | 67 |
| Working capital | 101 | 101 | 101 | 101 | 101 | 101 |
| Net block and other assets | 245 | 268 | 286 | 299 | 307 | 310 |
| Debt | 6 | 6 | 6 | 6 | 6 | 6 |
| Equity | 260 | 284 | 307 | 331 | 355 | 378 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 48 | 48 | 48 | 48 | 48 | |
| Investing (capex) | (38) | (33) | (28) | (23) | (18) | |
| Financing (dividends) | (9) | (9) | (9) | (9) | (9) | |
| Net change in cash | 1 | 6 | 11 | 16 | 21 | |
| Free cash flow to equity | 10 | 15 | 20 | 25 | 30 | |
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 | 0% | 11% | 11.00% | 5% | ₹66 | (30.8)% |
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.