Models
P&G HYGIENE & HEALTH CAREPGHHPersonal Products
₹10,966per 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₹10,966implied FY26 P/E 45.0× · EV/EBITDA 29.9×
Against CMP ₹7,520.00+45.8%close of 2026-09-10
Growth the CMP implies16.9%revenue, a year for 5 years, on your other inputs
Value after FY3181%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
₹8,393₹16,107
52-week rangetraded range, a fact not a value
₹7,562₹14,509
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 6,778 |
| PV of terminal value | 28,261 |
| Enterprise value | 35,039 |
| less net debt | 557 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 35,596 |
| ÷ 3.25 crore shares | ₹10,966 |
81% 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% | 11,335 | 12,203 | 13,244 | 14,516 | 16,107 |
| 10.50% | 10,428 | 11,149 | 12,001 | 13,023 | 14,273 |
| 11.00% | 9,651 | 10,258 | 10,966 | 11,803 | 12,807 |
| 11.50% | 8,980 | 9,496 | 10,092 | 10,788 | 11,610 |
| 12.00% | 8,393 | 8,837 | 9,345 | 9,930 | 10,613 |
The outlined cell is your model. Green figures sit above the CMP of ₹7,520.00; 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 | 8,134 · 10,895 · 14,454 |
| Draws below the CMP | 5% |
| Rank correlation with revenue growth | +0.82 |
| Rank correlation with discount rate | −0.42 |
| Rank correlation with ebitda margin | +0.32 |
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 | 3,065 | 3,274 | 3,374 | 4,290 | 5,449 | 6,920 | 8,788 | 11,161 | 14,175 |
| growth % | (1.9) | 6.8 | 3.1 | 27.1 | 27.0 | 27.0 | 27.0 | 27.0 | 27.0 |
| EBITDA | 654 | 852 | 871 | 1,171 | 1,488 | 1,889 | 2,399 | 3,047 | 3,870 |
| margin % | 21.3 | 26.0 | 25.8 | 27.3 | 27.3 | 27.3 | 27.3 | 27.3 | 27.3 |
| less depreciation | (43) | (43) | (32) | (37) | (49) | (62) | (79) | (100) | (128) |
| EBIT | 611 | 809 | 839 | 1,134 | 1,438 | 1,827 | 2,320 | 2,947 | 3,742 |
| less tax on EBIT | (302) | (383) | (486) | (617) | (784) | (995) | |||
| NOPAT | 832 | 1,056 | 1,341 | 1,703 | 2,163 | 2,747 | |||
| add depreciation | 43 | 43 | 32 | 37 | 49 | 62 | 79 | 100 | 128 |
| less capex | — | — | (55) | 0 | 0 | (19) | (47) | (90) | (153) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | |||
| Free cash flow to firm | — | — | 538 | — | 1,105 | 1,385 | 1,735 | 2,173 | 2,721 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 1,049 | 1,184 | 1,336 | 1,508 | 1,701 |
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 98.5% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 1,134 | 1,438 | 1,827 | 2,320 | 2,947 | 3,742 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 1,438 | 1,827 | 2,320 | 2,947 | 3,742 | |
| Profit after tax | 857 | 1,056 | 1,341 | 1,703 | 2,163 | 2,747 |
| Dividends | (844) | (1,040) | (1,321) | (1,677) | (2,130) | (2,706) |
| Balance sheet, year end | ||||||
| Cash | 557 | 622 | 686 | 743 | 785 | 801 |
| Working capital | (384) | (384) | (384) | (384) | (384) | (384) |
| Net block and other assets | 1,631 | 1,582 | 1,538 | 1,507 | 1,497 | 1,522 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 753 | 769 | 789 | 815 | 847 | 889 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 1,105 | 1,403 | 1,782 | 2,263 | 2,874 | |
| Investing (capex) | 0 | (19) | (47) | (90) | (153) | |
| Financing (dividends) | (1,040) | (1,321) | (1,677) | (2,130) | (2,706) | |
| Net change in cash | 65 | 64 | 57 | 42 | 16 | |
| Free cash flow to equity | 1,105 | 1,385 | 1,735 | 2,173 | 2,721 | |
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 | 27% | 27.3% | 11.00% | 5% | ₹10,966 | 45.8% |
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.