Models
NEULAND LAB LTD.NEULANDLABPharmaceuticals & Biotechnology
₹4,999per 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₹4,999implied FY26 P/E 12.9× · EV/EBITDA 11.4×
Against CMP ₹23,455.00−78.7%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3194%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
₹3,591₹7,824
52-week rangetraded range, a fact not a value
₹11,500₹24,225
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 366 |
| PV of terminal value | 6,202 |
| Enterprise value | 6,568 |
| less net debt | (120) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 6,448 |
| ÷ 1.29 crore shares | ₹4,999 |
94% 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% | 5,189 | 5,668 | 6,243 | 6,946 | 7,824 |
| 10.50% | 4,695 | 5,093 | 5,563 | 6,128 | 6,818 |
| 11.00% | 4,273 | 4,608 | 4,999 | 5,461 | 6,015 |
| 11.50% | 3,908 | 4,194 | 4,523 | 4,907 | 5,361 |
| 12.00% | 3,591 | 3,836 | 4,116 | 4,440 | 4,817 |
The outlined cell is your model. Green figures sit above the CMP of ₹23,455.00; 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 | 3,211 · 4,865 · 6,780 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.89 |
| Rank correlation with discount rate | −0.39 |
| Rank correlation with revenue growth | +0.08 |
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 | 1,191 | 1,559 | 1,477 | 2,023 | 2,630 | 3,419 | 4,444 | 5,778 | 7,511 |
| growth % | 25.2 | 30.8 | (5.2) | 37.0 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 272 | 463 | 400 | 574 | 747 | 971 | 1,262 | 1,641 | 2,133 |
| margin % | 22.8 | 29.7 | 27.1 | 28.4 | 28.4 | 28.4 | 28.4 | 28.4 | 28.4 |
| less depreciation | (53) | (60) | (66) | (92) | (118) | (154) | (200) | (260) | (338) |
| EBIT | 219 | 403 | 334 | 483 | 629 | 817 | 1,062 | 1,381 | 1,795 |
| less tax on EBIT | (124) | (161) | (209) | (272) | (354) | (460) | |||
| NOPAT | 359 | 468 | 608 | 790 | 1,027 | 1,336 | |||
| add depreciation | 53 | 60 | 66 | 92 | 118 | 154 | 200 | 260 | 338 |
| less capex | (66) | (141) | (206) | (390) | (508) | (541) | (549) | (513) | (406) |
| less working-capital build | — | (235) | (305) | (397) | (516) | (671) | |||
| Free cash flow to firm | 172 | 120 | 111 | — | (156) | (85) | 44 | 259 | 597 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (149) | (72) | 34 | 179 | 373 |
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 197, dividends at 4.2% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 483 | 629 | 817 | 1,062 | 1,381 | 1,795 |
| Interest at 14.4% on debt | (28) | (28) | (28) | (28) | (28) | |
| Profit before tax | 600 | 789 | 1,034 | 1,353 | 1,767 | |
| Profit after tax | 364 | 447 | 587 | 769 | 1,006 | 1,315 |
| Dividends | (15) | (19) | (25) | (32) | (42) | (55) |
| Balance sheet, year end | ||||||
| Cash | 77 | (120) | (250) | (259) | (64) | 457 |
| Working capital | 783 | 1,017 | 1,323 | 1,720 | 2,236 | 2,907 |
| Net block and other assets | 2,071 | 2,460 | 2,847 | 3,196 | 3,449 | 3,517 |
| Debt | 197 | 197 | 197 | 197 | 197 | 197 |
| Equity | 1,874 | 2,302 | 2,865 | 3,601 | 4,565 | 5,825 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 330 | 435 | 572 | 750 | 982 | |
| Investing (capex) | (508) | (541) | (549) | (513) | (406) | |
| Financing (dividends) | (19) | (25) | (32) | (42) | (55) | |
| Net change in cash | (196) | (130) | (9) | 195 | 521 | |
| Free cash flow to equity | (178) | (106) | 23 | 238 | 576 | |
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% | 28.4% | 11.00% | 5% | ₹4,999 | (78.7)% |
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.