Models
MANORAMA INDUSTRIES LTDMANORAMAFood Products
₹543per 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₹543implied FY26 P/E 12.6× · EV/EBITDA 9.9×
Against CMP ₹2,060.00−73.6%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3184%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
₹395₹839
52-week rangetraded range, a fact not a value
₹1,061₹2,150
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 589 |
| PV of terminal value | 2,999 |
| Enterprise value | 3,587 |
| less net debt | (346) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 3,241 |
| ÷ 5.97 crore shares | ₹543 |
84% 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% | 564 | 614 | 674 | 747 | 839 |
| 10.50% | 512 | 553 | 602 | 661 | 733 |
| 11.00% | 467 | 502 | 543 | 591 | 649 |
| 11.50% | 428 | 458 | 493 | 533 | 580 |
| 12.00% | 395 | 420 | 450 | 483 | 523 |
The outlined cell is your model. Green figures sit above the CMP of ₹2,060.00; 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 | 272 · 530 · 761 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.87 |
| Rank correlation with revenue growth | −0.34 |
| Rank correlation with discount rate | −0.30 |
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 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|
| Revenue | 771 | 1,367 | 1,777 | 2,310 | 3,003 | 3,904 | 5,075 |
| growth % | — | 77.3 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 186 | 361 | 469 | 610 | 793 | 1,031 | 1,340 |
| margin % | 24.2 | 26.4 | 26.4 | 26.4 | 26.4 | 26.4 | 26.4 |
| less depreciation | (22) | (26) | (34) | (44) | (57) | (74) | (96) |
| EBIT | 164 | 336 | 435 | 566 | 736 | 956 | 1,243 |
| less tax on EBIT | (91) | (118) | (153) | (199) | (258) | (336) | |
| NOPAT | 245 | 318 | 413 | 537 | 698 | 908 | |
| add depreciation | 22 | 26 | 34 | 44 | 57 | 74 | 96 |
| less capex | (32) | (55) | (71) | (82) | (94) | (106) | (116) |
| less working-capital build | — | (210) | (273) | (355) | (461) | (600) | |
| Free cash flow to firm | (89) | — | 71 | 102 | 145 | 205 | 289 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | 67 | 87 | 112 | 142 | 181 |
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 356, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 336 | 435 | 566 | 736 | 956 | 1,243 |
| Interest at 9% on debt | (32) | (32) | (32) | (32) | (32) | |
| Profit before tax | 403 | 534 | 704 | 924 | 1,211 | |
| Profit after tax | 0 | 294 | 390 | 514 | 675 | 884 |
| Dividends | (4) | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 10 | 57 | 135 | 257 | 439 | 704 |
| Working capital | 699 | 909 | 1,182 | 1,537 | 1,998 | 2,598 |
| Net block and other assets | 490 | 527 | 566 | 603 | 635 | 654 |
| Debt | 356 | 356 | 356 | 356 | 356 | 356 |
| Equity | 682 | 977 | 1,366 | 1,880 | 2,555 | 3,439 |
| Balance check | 0 | (0) | (0) | (0) | 0 | (0) |
| Cash flow | ||||||
| From operations | 118 | 161 | 216 | 288 | 381 | |
| Investing (capex) | (71) | (82) | (94) | (106) | (116) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 47 | 78 | 122 | 182 | 265 | |
| Free cash flow to equity | 47 | 78 | 122 | 182 | 265 | |
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% | 26.4% | 11.00% | 5% | ₹543 | (73.6)% |
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.