₹-30per 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₹(30)implied P/B (0.32)× on FY26 book
Against CMP ₹20.01−248.7%close of 2026-09-10
Cost of equity18.16%risk-free + beta × equity risk premium
Book equity, FY26₹93per share · excess returns add ₹(123)
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Excess-return schedule · ₹ crore · book equity earns your ROE; value is book plus the returns above the cost of equity
| ₹ crore | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|
| Opening book equity | 2,385 | 2,323 | 2,263 | 2,204 | 2,146 |
| Net income at -2.6% ROE | (62) | (60) | (59) | (57) | (56) |
| Cost of equity charge at 18.16% | (433) | (422) | (411) | (400) | (390) |
| Excess return | (495) | (482) | (470) | (458) | (446) |
| Present value | (456) | (376) | (310) | (255) | (210) |
| Closing book equity | 2,323 | 2,263 | 2,204 | 2,146 | 2,091 |
| Book equity today | 2,385 |
| PV of 5 years of excess return | (1,606) |
| PV of the terminal excess return, 5% flat | (1,543) |
| add non-operating investments | 0 |
| Equity value | (764) |
| ÷ 25.68 crore shares | ₹(30) |
ROE is at or below the cost of equity, so every year destroys value against book and the model lands below book value. That is the arithmetic, not a view.
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹20₹44
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE -2.6% | — | 18.16% | 5% | ₹(30) | (248.7)% |
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.