Models
PODDAR PIGMENTS LIMITEDPODDARMENTChemicals & Petrochemicals
₹52per 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₹52implied FY26 P/E 3.6× · EV/EBITDA 2.4×
Against CMP ₹279.90−81.5%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY31131%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
₹31₹93
52-week rangetraded range, a fact not a value
₹201₹333
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | (18) |
| PV of terminal value | 76 |
| Enterprise value | 58 |
| less net debt | (3) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 55 |
| ÷ 1.06 crore shares | ₹52 |
131% 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% | 54 | 61 | 70 | 80 | 93 |
| 10.50% | 47 | 53 | 60 | 68 | 79 |
| 11.00% | 41 | 46 | 52 | 59 | 67 |
| 11.50% | 36 | 40 | 45 | 50 | 57 |
| 12.00% | 31 | 35 | 39 | 44 | 49 |
The outlined cell is your model. Green figures sit above the CMP of ₹279.90; 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 | 24 · 51 · 80 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.89 |
| Rank correlation with discount rate | −0.36 |
| Rank correlation with revenue growth | −0.19 |
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 | 341 | 369 | 368 | 375 | 380 | 386 | 392 | 398 | 404 |
| growth % | 15.3 | 8.3 | (0.1) | 1.7 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 |
| EBITDA | 38 | 39 | 32 | 24 | 24 | 24 | 25 | 25 | 25 |
| margin % | 11.1 | 10.7 | 8.7 | 6.3 | 6.3 | 6.3 | 6.3 | 6.3 | 6.3 |
| less depreciation | (6) | (7) | (8) | (9) | (10) | (10) | (10) | (10) | (10) |
| EBIT | 32 | 33 | 24 | 14 | 14 | 15 | 15 | 15 | 15 |
| less tax on EBIT | (4) | (4) | (4) | (4) | (4) | (4) | |||
| NOPAT | 11 | 11 | 11 | 11 | 11 | 11 | |||
| add depreciation | 6 | 7 | 8 | 9 | 10 | 10 | 10 | 10 | 10 |
| less capex | (4) | (26) | (24) | (32) | (32) | (28) | (23) | (17) | (12) |
| less working-capital build | — | (2) | (2) | (2) | (2) | (2) | |||
| Free cash flow to firm | 12 | (5) | (12) | — | (14) | (9) | (4) | 2 | 7 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (13) | (8) | (3) | 1 | 5 |
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 6, dividends at 28.8% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 14 | 14 | 15 | 15 | 15 | 15 |
| Interest at 12.5% on debt | (1) | (1) | (1) | (1) | (1) | |
| Profit before tax | 14 | 14 | 14 | 14 | 15 | |
| Profit after tax | 15 | 10 | 10 | 10 | 11 | 11 |
| Dividends | (4) | (3) | (3) | (3) | (3) | (3) |
| Balance sheet, year end | ||||||
| Cash | 3 | (14) | (26) | (34) | (36) | (32) |
| Working capital | 124 | 126 | 127 | 129 | 131 | 133 |
| Net block and other assets | 285 | 308 | 326 | 338 | 346 | 348 |
| Debt | 6 | 6 | 6 | 6 | 6 | 6 |
| Equity | 351 | 358 | 365 | 372 | 380 | 388 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 18 | 18 | 18 | 19 | 19 | |
| Investing (capex) | (32) | (28) | (23) | (17) | (12) | |
| Financing (dividends) | (3) | (3) | (3) | (3) | (3) | |
| Net change in cash | (18) | (12) | (7) | (2) | 4 | |
| Free cash flow to equity | (15) | (10) | (4) | 1 | 7 | |
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 | 1.5% | 6.3% | 11.00% | 5% | ₹52 | (81.5)% |
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.