Models
PERMANENT MAGNETS LTD.PERMAGNElectrical Equipment
₹13per 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₹13implied FY26 P/E 0.7× · EV/EBITDA 1.5×
Against CMP ₹861.10−98.5%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3189%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)₹45
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 6 |
| PV of terminal value | 47 |
| Enterprise value | 53 |
| less net debt | (42) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 11 |
| ÷ 0.86 crore shares | ₹13 |
89% 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% | 15 | 21 | 27 | 35 | 45 |
| 10.50% | 10 | 14 | 19 | 26 | 34 |
| 11.00% | 5 | 9 | 13 | 18 | 25 |
| 11.50% | 1 | 4 | 8 | 12 | 17 |
| 12.00% | (3) | (0) | 3 | 7 | 11 |
The outlined cell is your model. Green figures sit above the CMP of ₹861.10; 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 | (65) · 13 · 80 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.83 |
| Rank correlation with revenue growth | −0.53 |
| Rank correlation with discount rate | −0.10 |
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 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 201 | 205 | 226 | 250 | 276 | 305 | 337 | 373 |
| growth % | — | 1.8 | 10.3 | 10.5 | 10.5 | 10.5 | 10.5 | 10.5 |
| EBITDA | 34 | 30 | 35 | 38 | 43 | 47 | 52 | 57 |
| margin % | 17.1 | 14.8 | 15.4 | 15.4 | 15.4 | 15.4 | 15.4 | 15.4 |
| less depreciation | (8) | (11) | (15) | (16) | (18) | (20) | (22) | (24) |
| EBIT | 26 | 19 | 20 | 22 | 25 | 27 | 30 | 34 |
| less tax on EBIT | (7) | (8) | (8) | (9) | (10) | (11) | ||
| NOPAT | 13 | 15 | 16 | 18 | 20 | 22 | ||
| add depreciation | 8 | 11 | 15 | 16 | 18 | 20 | 22 | 24 |
| less capex | (22) | (28) | (21) | (23) | (24) | (26) | (27) | (29) |
| less working-capital build | — | (9) | (10) | (11) | (12) | (13) | ||
| Free cash flow to firm | 2 | 10 | — | (0) | 0 | 2 | 3 | 5 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | (0) | 0 | 1 | 2 | 3 |
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 70, dividends at 11.7% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 20 | 22 | 25 | 27 | 30 | 34 |
| Interest at 10% on debt | (7) | (7) | (7) | (7) | (7) | |
| Profit before tax | 15 | 18 | 20 | 23 | 27 | |
| Profit after tax | 15 | 10 | 12 | 13 | 15 | 17 |
| Dividends | (2) | (1) | (1) | (2) | (2) | (2) |
| Balance sheet, year end | ||||||
| Cash | 28 | 22 | 16 | 12 | 8 | 6 |
| Working capital | 82 | 90 | 100 | 110 | 122 | 135 |
| Net block and other assets | 172 | 179 | 185 | 192 | 197 | 202 |
| Debt | 70 | 70 | 70 | 70 | 70 | 70 |
| Equity | 157 | 166 | 177 | 189 | 202 | 218 |
| Balance check | 0 | 0 | 0 | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 18 | 20 | 23 | 25 | 29 | |
| Investing (capex) | (23) | (24) | (26) | (27) | (29) | |
| Financing (dividends) | (1) | (1) | (2) | (2) | (2) | |
| Net change in cash | (6) | (6) | (5) | (4) | (2) | |
| Free cash flow to equity | (5) | (4) | (3) | (2) | (0) | |
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 | 10.5% | 15.4% | 11.00% | 5% | ₹13 | (98.5)% |
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.