Models
MANAPPURAM FINANCE LTDMANAPPURAMFinance
₹17per 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₹17implied P/B 0.10× on FY26 book
Against CMP ₹329.00−94.7%close of 2026-09-10
Cost of equity14.44%risk-free + beta × equity risk premium
Book equity, FY26₹171per share · excess returns add ₹(154)
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 | 16,057 | 16,884 | 17,754 | 18,669 | 19,631 |
| Net income at 6.2% ROE | 996 | 1,047 | 1,101 | 1,157 | 1,217 |
| Cost of equity charge at 14.44% | (2,318) | (2,438) | (2,563) | (2,695) | (2,834) |
| Excess return | (1,323) | (1,391) | (1,462) | (1,538) | (1,617) |
| Present value | (1,236) | (1,136) | (1,044) | (959) | (881) |
| Closing book equity | 16,884 | 17,754 | 18,669 | 19,631 | 20,642 |
| Book equity today | 16,057 |
| PV of 5 years of excess return | (5,257) |
| PV of the terminal excess return, 5% flat | (9,167) |
| add non-operating investments | 0 |
| Equity value | 1,633 |
| ÷ 93.94 crore shares | ₹17 |
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
₹245₹382
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 6.2% | — | 14.44% | 5% | ₹17 | (94.7)% |
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.