Models
PILANI INV & IND COR LTDPILANIINVSFinance
₹-6,329per share · Base Model Note
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₹(6,329)implied P/B (0.44)× on FY26 book
Against CMP ₹3,900.00−262.3%close of 28 Oct 2026
Cost of equity12.24%risk-free + beta × equity risk premium
Book equity, FY26₹14,335per share · excess returns add ₹(20,664)
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 | 15,872 | 15,887 | 15,902 | 15,916 | 15,931 |
| Net income at 0.2% ROE | 32 | 32 | 32 | 32 | 32 |
| Cost of equity charge at 12.24% | (1,943) | (1,945) | (1,947) | (1,949) | (1,951) |
| Excess return | (1,912) | (1,913) | (1,915) | (1,917) | (1,919) |
| Present value | (1,804) | (1,609) | (1,435) | (1,279) | (1,141) |
| Closing book equity | 15,887 | 15,902 | 15,916 | 15,931 | 15,946 |
| Book equity today | 15,872 |
| PV of 5 years of excess return | (7,269) |
| PV of the terminal excess return, 5% flat | (15,611) |
| add non-operating investments | 0 |
| Equity value | (7,007) |
| ÷ 1.11 crore shares | ₹(6,329) |
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
₹3,672₹5,877
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 0.2% | — | 12.24% | 5% | ₹(6,329) | (262.3)% |
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.