Models
NETWORK PEOPLE SRV TECH LNPSTFinancial Technology (Fintech)
₹393per 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₹393implied FY26 P/E 17.6× · EV/EBITDA 10.8×
Against CMP ₹1,675.00−76.5%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3173%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
₹336₹507
52-week rangetraded range, a fact not a value
₹847₹2,200
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 147 |
| PV of terminal value | 401 |
| Enterprise value | 549 |
| less net debt | 272 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 821 |
| ÷ 2.09 crore shares | ₹393 |
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% | 402 | 421 | 444 | 472 | 507 |
| 10.50% | 382 | 398 | 416 | 439 | 467 |
| 11.00% | 364 | 378 | 393 | 412 | 434 |
| 11.50% | 349 | 361 | 374 | 389 | 407 |
| 12.00% | 336 | 346 | 357 | 370 | 385 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,675.00; 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 | 341 · 391 · 451 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.78 |
| Rank correlation with discount rate | −0.54 |
| Rank correlation with revenue growth | +0.20 |
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 | 173 | 195 | 219 | 247 | 278 | 312 | 351 |
| growth % | — | 12.5 | 12.5 | 12.5 | 12.5 | 12.5 | 12.5 |
| EBITDA | 60 | 51 | 57 | 64 | 72 | 81 | 91 |
| margin % | 34.7 | 26.0 | 26.0 | 26.0 | 26.0 | 26.0 | 26.0 |
| less depreciation | (7) | (9) | (10) | (12) | (13) | (15) | (17) |
| EBIT | 53 | 41 | 47 | 53 | 59 | 66 | 75 |
| less tax on EBIT | (11) | (12) | (14) | (15) | (17) | (19) | |
| NOPAT | 31 | 35 | 39 | 44 | 49 | 55 | |
| add depreciation | 7 | 9 | 10 | 12 | 13 | 15 | 17 |
| less capex | (6) | 0 | 0 | (3) | (8) | (13) | (20) |
| less working-capital build | — | (8) | (9) | (11) | (12) | (14) | |
| Free cash flow to firm | 23 | — | 36 | 38 | 38 | 39 | 39 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | 35 | 32 | 30 | 27 | 24 |
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 6, dividends at 8.7% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 41 | 47 | 53 | 59 | 66 | 75 |
| Interest at 12% on debt | (1) | (1) | (1) | (1) | (1) | |
| Profit before tax | 46 | 52 | 58 | 66 | 74 | |
| Profit after tax | 47 | 34 | 38 | 43 | 49 | 55 |
| Dividends | (4) | (3) | (3) | (4) | (4) | (5) |
| Balance sheet, year end | ||||||
| Cash | 277 | 310 | 344 | 378 | 412 | 446 |
| Working capital | 67 | 76 | 85 | 96 | 108 | 122 |
| Net block and other assets | 163 | 153 | 145 | 140 | 138 | 142 |
| Debt | 6 | 6 | 6 | 6 | 6 | 6 |
| Equity | 441 | 472 | 507 | 547 | 592 | 642 |
| Balance check | 0 | (0) | (0) | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 36 | 41 | 46 | 51 | 58 | |
| Investing (capex) | 0 | (3) | (8) | (13) | (20) | |
| Financing (dividends) | (3) | (3) | (4) | (4) | (5) | |
| Net change in cash | 33 | 34 | 34 | 34 | 33 | |
| Free cash flow to equity | 36 | 37 | 38 | 38 | 38 | |
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 | 12.5% | 26% | 11.00% | 5% | ₹393 | (76.5)% |
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.