Models
MOTOR & GENERAL FINANCE LMOTOGENFIN
₹535per 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₹535implied FY26 P/E 13.9× · EV/EBITDA 12.1×
Against CMP ₹23.80+2147.9%close of 23 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 FY3172%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
₹429₹745
52-week rangetraded range, a fact not a value
₹18₹34
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 541 |
| PV of terminal value | 1,375 |
| Enterprise value | 1,916 |
| less net debt | 156 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,072 |
| ÷ 3.87 crore shares | ₹535 |
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% | 551 | 586 | 629 | 680 | 745 |
| 10.50% | 513 | 543 | 578 | 619 | 670 |
| 11.00% | 481 | 506 | 535 | 569 | 610 |
| 11.50% | 454 | 475 | 499 | 527 | 561 |
| 12.00% | 429 | 447 | 468 | 492 | 520 |
The outlined cell is your model. Green figures sit above the CMP of ₹23.80; 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 | 466 · 535 · 619 |
| Draws below the CMP | 0% |
| Rank correlation with discount rate | −0.76 |
| Rank correlation with ebitda margin | +0.62 |
| 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 | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5 | 6 | 7 | 7 | 7 | 7 | 6 | 6 | 6 |
| growth % | 30.0 | 14.3 | 12.4 | (1.9) | (2.0) | (2.0) | (2.0) | (2.0) | (2.0) |
| EBITDA | (4) | 0 | (1) | 159 | 156 | 152 | 149 | 146 | 144 |
| margin % | (81.8) | 3.7 | (11.4) | 2320.7 | 2320.7 | 2320.7 | 2320.7 | 2320.7 | 2320.7 |
| less depreciation | (1) | (1) | (1) | (1) | (1) | (1) | (1) | (1) | (1) |
| EBIT | (6) | (1) | (2) | 158 | 155 | 151 | 148 | 145 | 143 |
| less tax on EBIT | (13) | (13) | (13) | (13) | (12) | (12) | |||
| NOPAT | 144 | 141 | 139 | 136 | 133 | 130 | |||
| add depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| less capex | (0) | (0) | (0) | (0) | (0) | (1) | (1) | (1) | (1) |
| less working-capital build | — | 2 | 2 | 2 | 2 | 2 | |||
| Free cash flow to firm | 1 | 1 | 1 | — | 144 | 141 | 138 | 135 | 132 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 137 | 121 | 107 | 94 | 83 |
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 0, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 158 | 155 | 151 | 148 | 145 | 143 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 155 | 151 | 148 | 145 | 143 | |
| Profit after tax | 147 | 141 | 139 | 136 | 133 | 130 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 156 | 301 | 442 | 580 | 716 | 848 |
| Working capital | 114 | 112 | 110 | 107 | 105 | 103 |
| Net block and other assets | 36 | 36 | 35 | 35 | 35 | 35 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 222 | 364 | 502 | 638 | 771 | 902 |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 145 | 142 | 139 | 136 | 134 | |
| Investing (capex) | (0) | (1) | (1) | (1) | (1) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 144 | 141 | 138 | 135 | 132 | |
| Free cash flow to equity | 144 | 141 | 138 | 135 | 132 | |
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 | -2% | 2320.7% | 11.00% | 5% | ₹535 | 2147.9% |
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.