Models
Mishtann Foods LimitedBSE 539594Food Products
₹35per 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₹35implied FY26 P/E 14.8× · EV/EBITDA 14.5×
Against CMP ₹2.93+1109.6%close of 28 Oct 2026
Growth the CMP implies—%no growth rate between −20% and 45% a year brings the value to the CMP on your other inputs
Value after FY3170%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
₹28₹50
52-week rangetraded range, a fact not a value
₹3₹5
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,150 |
| PV of terminal value | 2,731 |
| Enterprise value | 3,881 |
| less net debt | (62) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 3,819 |
| ÷ 107.76 crore shares | ₹35 |
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% | 37 | 39 | 42 | 46 | 50 |
| 10.50% | 34 | 36 | 38 | 41 | 45 |
| 11.00% | 32 | 33 | 35 | 38 | 41 |
| 11.50% | 30 | 31 | 33 | 35 | 37 |
| 12.00% | 28 | 29 | 31 | 32 | 34 |
The outlined cell is your model. Green figures sit above the CMP of ₹2.93; 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 | 31 · 35 · 41 |
| Draws below the CMP | 0% |
| Rank correlation with discount rate | −0.83 |
| Rank correlation with ebitda margin | +0.54 |
| 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 | 1,288 | 1,375 | 1,153 | 1,096 | 1,041 | 989 | 940 | 893 |
| growth % | — | 6.8 | (16.1) | (5.0) | (5.0) | (5.0) | (5.0) | (5.0) |
| EBITDA | 359 | 339 | 267 | 254 | 242 | 229 | 218 | 207 |
| margin % | 27.9 | 24.6 | 23.2 | 23.2 | 23.2 | 23.2 | 23.2 | 23.2 |
| less depreciation | (1) | (1) | (0) | 0 | 0 | 0 | 0 | 0 |
| EBIT | 358 | 338 | 267 | 254 | 242 | 229 | 218 | 207 |
| less tax on EBIT | (2) | (2) | (1) | (1) | (1) | (1) | ||
| NOPAT | 265 | 253 | 240 | 228 | 217 | 206 | ||
| add depreciation | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| less capex | (0) | (0) | (0) | 0 | 0 | 0 | 0 | 0 |
| less working-capital build | — | 70 | 67 | 63 | 60 | 57 | ||
| Free cash flow to firm | (41) | (49) | — | 323 | 307 | 291 | 277 | 263 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 306 | 262 | 224 | 192 | 164 |
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 62, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 267 | 254 | 242 | 229 | 218 | 207 |
| Interest at 3% on debt | (2) | (2) | (2) | (2) | (2) | |
| Profit before tax | 252 | 240 | 228 | 216 | 205 | |
| Profit after tax | 263 | 251 | 238 | 226 | 215 | 204 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 0 | 321 | 626 | 916 | 1,191 | 1,452 |
| Working capital | 1,404 | 1,334 | 1,267 | 1,204 | 1,144 | 1,087 |
| Net block and other assets | 880 | 880 | 880 | 880 | 880 | 880 |
| Debt | 62 | 62 | 62 | 62 | 62 | 62 |
| Equity | 1,301 | 1,552 | 1,791 | 2,017 | 2,232 | 2,435 |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 321 | 305 | 290 | 275 | 261 | |
| Investing (capex) | 0 | 0 | 0 | 0 | 0 | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 321 | 305 | 290 | 275 | 261 | |
| Free cash flow to equity | 321 | 305 | 290 | 275 | 261 | |
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 | -5% | 23.2% | 11.00% | 5% | ₹35 | 1109.6% |
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.