Models
PLATINUM INDUSTRIES LTDPLATINDChemicals & Petrochemicals
₹116per 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₹116implied FY26 P/E 12.7× · EV/EBITDA 9.8×
Against CMP ₹223.00−47.9%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3190%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
₹88₹172
52-week rangetraded range, a fact not a value
₹184₹342
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 59 |
| PV of terminal value | 520 |
| Enterprise value | 579 |
| less net debt | 59 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 638 |
| ÷ 5.49 crore shares | ₹116 |
90% 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% | 120 | 129 | 141 | 155 | 172 |
| 10.50% | 110 | 118 | 127 | 138 | 152 |
| 11.00% | 102 | 108 | 116 | 125 | 136 |
| 11.50% | 95 | 100 | 107 | 114 | 123 |
| 12.00% | 88 | 93 | 99 | 105 | 112 |
The outlined cell is your model. Green figures sit above the CMP of ₹223.00; 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 | 90 · 115 · 144 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.82 |
| Rank correlation with discount rate | −0.52 |
| Rank correlation with revenue growth | −0.00 |
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 | 264 | 392 | 450 | 518 | 596 | 685 | 788 | 906 |
| growth % | — | 48.4 | 14.8 | 15.0 | 15.0 | 15.0 | 15.0 | 15.0 |
| EBITDA | 61 | 58 | 59 | 68 | 79 | 90 | 104 | 120 |
| margin % | 23.1 | 14.7 | 13.2 | 13.2 | 13.2 | 13.2 | 13.2 | 13.2 |
| less depreciation | (3) | (4) | (6) | (7) | (8) | (9) | (10) | (12) |
| EBIT | 58 | 54 | 53 | 62 | 71 | 82 | 94 | 108 |
| less tax on EBIT | (12) | (14) | (16) | (18) | (21) | (24) | ||
| NOPAT | 42 | 48 | 55 | 63 | 73 | 84 | ||
| add depreciation | 3 | 4 | 6 | 7 | 8 | 9 | 10 | 12 |
| less capex | (16) | (56) | (38) | (44) | (40) | (34) | (26) | (14) |
| less working-capital build | — | (18) | (21) | (24) | (27) | (31) | ||
| Free cash flow to firm | 17 | (64) | — | (7) | 2 | 14 | 30 | 50 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | (6) | 2 | 11 | 21 | 31 |
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 3, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 53 | 62 | 71 | 82 | 94 | 108 |
| Interest at 8% on debt | (0) | (0) | (0) | (0) | (0) | |
| Profit before tax | 61 | 71 | 81 | 93 | 108 | |
| Profit after tax | 52 | 48 | 55 | 63 | 73 | 84 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 63 | 56 | 58 | 72 | 102 | 152 |
| Working capital | 120 | 138 | 158 | 182 | 209 | 241 |
| Net block and other assets | 367 | 403 | 435 | 461 | 476 | 478 |
| Debt | 3 | 3 | 3 | 3 | 3 | 3 |
| Equity | 455 | 503 | 558 | 621 | 694 | 777 |
| Balance check | 0 | 0 | (0) | (0) | (0) | 0 |
| Cash flow | ||||||
| From operations | 37 | 42 | 48 | 56 | 64 | |
| Investing (capex) | (44) | (40) | (34) | (26) | (14) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (7) | 2 | 14 | 30 | 50 | |
| Free cash flow to equity | (7) | 2 | 14 | 30 | 50 | |
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 | 15% | 13.2% | 11.00% | 5% | ₹116 | (47.9)% |
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.