Models
MAFATLAL INDUSTRIES LTD.MAFATINDTextiles & Apparels
₹287per 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₹287implied FY26 P/E 23.3× · EV/EBITDA 22.6×
Against CMP ₹122.56+134.3%close of 2026-09-10
Growth the CMP implies(4.4)%revenue, a year for 5 years, on your other inputs
Value after FY3182%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
₹220₹422
52-week rangetraded range, a fact not a value
₹119₹158
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 355 |
| PV of terminal value | 1,654 |
| Enterprise value | 2,009 |
| less net debt | 63 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,072 |
| ÷ 7.22 crore shares | ₹287 |
82% 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% | 297 | 320 | 347 | 381 | 422 |
| 10.50% | 273 | 292 | 314 | 341 | 374 |
| 11.00% | 253 | 269 | 287 | 309 | 336 |
| 11.50% | 235 | 248 | 264 | 282 | 304 |
| 12.00% | 220 | 231 | 245 | 260 | 278 |
The outlined cell is your model. Green figures sit above the CMP of ₹122.56; 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 | 215 · 282 · 373 |
| Draws below the CMP | 0% |
| Rank correlation with ebitda margin | +0.67 |
| Rank correlation with revenue growth | +0.54 |
| Rank correlation with discount rate | −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 | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,372 | 2,079 | 2,807 | 3,871 | 5,032 | 6,542 | 8,505 | 11,056 | 14,373 |
| growth % | 38.4 | 51.5 | 35.1 | 37.9 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 28 | 46 | 62 | 89 | 116 | 150 | 196 | 254 | 331 |
| margin % | 2.0 | 2.2 | 2.2 | 2.3 | 2.3 | 2.3 | 2.3 | 2.3 | 2.3 |
| less depreciation | (15) | (15) | (15) | (17) | (20) | (26) | (34) | (44) | (57) |
| EBIT | 12 | 31 | 47 | 72 | 96 | 124 | 162 | 210 | 273 |
| less tax on EBIT | (4) | (6) | (7) | (10) | (12) | (16) | |||
| NOPAT | 67 | 90 | 117 | 152 | 198 | 257 | |||
| add depreciation | 15 | 15 | 15 | 17 | 20 | 26 | 34 | 44 | 57 |
| less capex | (15) | (6) | (13) | (24) | (30) | (37) | (46) | (56) | (69) |
| less working-capital build | — | (30) | (39) | (51) | (66) | (86) | |||
| Free cash flow to firm | (22) | 153 | (103) | — | 50 | 67 | 89 | 119 | 159 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 47 | 57 | 69 | 83 | 100 |
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 61, dividends at 18% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 72 | 96 | 124 | 162 | 210 | 273 |
| Interest at 13.5% on debt | (8) | (8) | (8) | (8) | (8) | |
| Profit before tax | 87 | 116 | 153 | 202 | 265 | |
| Profit after tax | 90 | 82 | 109 | 144 | 190 | 249 |
| Dividends | (16) | (15) | (20) | (26) | (34) | (45) |
| Balance sheet, year end | ||||||
| Cash | 124 | 151 | 190 | 246 | 323 | 430 |
| Working capital | 102 | 132 | 171 | 222 | 289 | 375 |
| Net block and other assets | 1,524 | 1,534 | 1,546 | 1,557 | 1,570 | 1,581 |
| Debt | 61 | 61 | 61 | 61 | 61 | 61 |
| Equity | 771 | 839 | 928 | 1,047 | 1,203 | 1,407 |
| Balance check | 0 | (0) | (0) | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 72 | 96 | 127 | 168 | 221 | |
| Investing (capex) | (30) | (37) | (46) | (56) | (69) | |
| Financing (dividends) | (15) | (20) | (26) | (34) | (45) | |
| Net change in cash | 27 | 39 | 55 | 77 | 107 | |
| Free cash flow to equity | 42 | 59 | 81 | 111 | 152 | |
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 | 30% | 2.3% | 11.00% | 5% | ₹287 | 134.3% |
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.