Models
M&M FIN. SERVICES LTDM&MFINFinance
₹86per 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₹86implied P/B 0.45× on FY26 book
Against CMP ₹356.50−75.9%close of 2026-09-10
Cost of equity16.41%risk-free + beta × equity risk premium
Book equity, FY26₹192per share · excess returns add ₹(106)
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Excess-return schedule · ₹ crore · book equity earns your ROE; value is book plus the returns above the cost of equity
| ₹ crore | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|
| Opening book equity | 26,692 | 28,643 | 30,736 | 32,982 | 35,392 |
| Net income at 10.7% ROE | 2,856 | 3,065 | 3,289 | 3,529 | 3,787 |
| Cost of equity charge at 16.41% | (4,380) | (4,700) | (5,044) | (5,413) | (5,808) |
| Excess return | (1,524) | (1,636) | (1,755) | (1,883) | (2,021) |
| Present value | (1,413) | (1,302) | (1,200) | (1,107) | (1,020) |
| Closing book equity | 28,643 | 30,736 | 32,982 | 35,392 | 37,979 |
| Book equity today | 26,692 |
| PV of 5 years of excess return | (6,042) |
| PV of the terminal excess return, 5% flat | (8,700) |
| add non-operating investments | 0 |
| Equity value | 11,950 |
| ÷ 138.96 crore shares | ₹86 |
ROE is at or below the cost of equity, so every year destroys value against book and the model lands below book value. That is the arithmetic, not a view.
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹266₹415
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 10.7% | — | 16.41% | 5% | ₹86 | (75.9)% |
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.