Models
PELATRO LIMITEDPELATRO
₹395per 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₹395implied FY26 P/E 15.2× · EV/EBITDA 17.1×
Against CMP ₹345.00+14.5%close of 27 Oct 2026
Growth the CMP implies23.8%revenue, a year for 5 years, on your other inputs
Value after FY3192%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
₹289₹608
52-week rangetraded range, a fact not a value
₹246₹405
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 32 |
| PV of terminal value | 384 |
| Enterprise value | 416 |
| less net debt | 3 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 419 |
| ÷ 1.06 crore shares | ₹395 |
92% 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% | 410 | 446 | 489 | 542 | 608 |
| 10.50% | 372 | 402 | 438 | 480 | 532 |
| 11.00% | 340 | 366 | 395 | 430 | 472 |
| 11.50% | 313 | 334 | 359 | 388 | 422 |
| 12.00% | 289 | 307 | 328 | 353 | 381 |
The outlined cell is your model. Green figures sit above the CMP of ₹345.00; 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 | 273 · 385 · 535 |
| Draws below the CMP | 34% |
| Rank correlation with ebitda margin | +0.76 |
| Rank correlation with revenue growth | +0.43 |
| Rank correlation with discount rate | −0.41 |
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 | 86 | 138 | 180 | 234 | 304 | 395 | 513 |
| growth % | — | 61.2 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 16 | 24 | 32 | 41 | 53 | 69 | 90 |
| margin % | 19.0 | 17.6 | 17.6 | 17.6 | 17.6 | 17.6 | 17.6 |
| less depreciation | (3) | (6) | (8) | (10) | (13) | (17) | (23) |
| EBIT | 13 | 18 | 24 | 31 | 40 | 52 | 68 |
| less tax on EBIT | (1) | (1) | (2) | (3) | (3) | (4) | |
| NOPAT | 17 | 22 | 29 | 38 | 49 | 63 | |
| add depreciation | 3 | 6 | 8 | 10 | 13 | 17 | 23 |
| less capex | (45) | (22) | (29) | (31) | (32) | (31) | (27) |
| less working-capital build | — | (8) | (10) | (13) | (17) | (22) | |
| Free cash flow to firm | (24) | — | (6) | (2) | 6 | 18 | 37 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | (6) | (2) | 4 | 12 | 23 |
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 12, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 18 | 24 | 31 | 40 | 52 | 68 |
| Interest at 8% on debt | (1) | (1) | (1) | (1) | (1) | |
| Profit before tax | 23 | 30 | 39 | 51 | 67 | |
| Profit after tax | 0 | 21 | 28 | 37 | 48 | 63 |
| Dividends | (1) | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 15 | 8 | 5 | 10 | 27 | 63 |
| Working capital | 26 | 33 | 43 | 57 | 73 | 96 |
| Net block and other assets | 143 | 164 | 185 | 204 | 218 | 222 |
| Debt | 12 | 12 | 12 | 12 | 12 | 12 |
| Equity | 104 | 125 | 153 | 190 | 238 | 300 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 21 | 28 | 37 | 48 | 63 | |
| Investing (capex) | (29) | (31) | (32) | (31) | (27) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (7) | (3) | 5 | 17 | 36 | |
| Free cash flow to equity | (7) | (3) | 5 | 17 | 36 | |
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% | 17.6% | 11.00% | 5% | ₹395 | 14.5% |
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.