Models
PVR INOX LIMITEDPVRINOXEntertainment
₹1,299per 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₹1,299implied FY26 P/E 28.7× · EV/EBITDA 6.3×
Against CMP ₹1,232.10+5.4%close of 2026-09-10
Growth the CMP implies13.5%revenue, a year for 5 years, on your other inputs
Value after FY3156%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
₹1,074₹1,744
52-week rangetraded range, a fact not a value
₹907₹1,285
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 5,626 |
| PV of terminal value | 7,301 |
| Enterprise value | 12,928 |
| less net debt | (170) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 12,758 |
| ÷ 9.82 crore shares | ₹1,299 |
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% | 1,336 | 1,410 | 1,499 | 1,608 | 1,744 |
| 10.50% | 1,256 | 1,317 | 1,390 | 1,478 | 1,584 |
| 11.00% | 1,187 | 1,239 | 1,299 | 1,371 | 1,456 |
| 11.50% | 1,127 | 1,171 | 1,222 | 1,281 | 1,351 |
| 12.00% | 1,074 | 1,112 | 1,155 | 1,205 | 1,264 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,232.10; 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 | 837 · 1,283 · 1,792 |
| Draws below the CMP | 45% |
| Rank correlation with ebitda margin | +0.90 |
| Rank correlation with revenue growth | +0.30 |
| Rank correlation with discount rate | −0.23 |
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 | 3,751 | 6,107 | 5,780 | 6,646 | 7,643 | 8,790 | 10,108 | 11,624 | 13,368 |
| growth % | 181.8 | 62.8 | (5.4) | 15.0 | 15.0 | 15.0 | 15.0 | 15.0 | 15.0 |
| EBITDA | 1,037 | 1,810 | 1,541 | 2,047 | 2,354 | 2,707 | 3,113 | 3,580 | 4,117 |
| margin % | 27.6 | 29.6 | 26.7 | 30.8 | 30.8 | 30.8 | 30.8 | 30.8 | 30.8 |
| less depreciation | (753) | (1,219) | (1,280) | (1,270) | (1,460) | (1,679) | (1,931) | (2,220) | (2,553) |
| EBIT | 284 | 591 | 262 | 776 | 894 | 1,028 | 1,183 | 1,360 | 1,564 |
| less tax on EBIT | (174) | (200) | (230) | (265) | (305) | (350) | |||
| NOPAT | 602 | 694 | 798 | 918 | 1,055 | 1,214 | |||
| add depreciation | 753 | 1,219 | 1,280 | 1,270 | 1,460 | 1,679 | 1,931 | 2,220 | 2,553 |
| less capex | (636) | (634) | (334) | (259) | (298) | (761) | (1,355) | (2,112) | (3,064) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | |||
| Free cash flow to firm | 228 | 1,345 | 1,633 | — | 1,856 | 1,716 | 1,493 | 1,164 | 703 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 1,761 | 1,467 | 1,150 | 808 | 440 |
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 759, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 776 | 894 | 1,028 | 1,183 | 1,360 | 1,564 |
| Interest at 8% on debt | (61) | (61) | (61) | (61) | (61) | |
| Profit before tax | 834 | 968 | 1,122 | 1,299 | 1,503 | |
| Profit after tax | 334 | 647 | 751 | 871 | 1,008 | 1,167 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 588 | 2,397 | 4,066 | 5,512 | 6,629 | 7,285 |
| Working capital | (255) | (255) | (255) | (255) | (255) | (255) |
| Net block and other assets | 15,279 | 14,117 | 13,199 | 12,624 | 12,515 | 13,026 |
| Debt | 759 | 759 | 759 | 759 | 759 | 759 |
| Equity | 7,379 | 8,026 | 8,776 | 9,647 | 10,655 | 11,822 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 2,107 | 2,430 | 2,801 | 3,229 | 3,720 | |
| Investing (capex) | (298) | (761) | (1,355) | (2,112) | (3,064) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 1,809 | 1,669 | 1,446 | 1,117 | 656 | |
| Free cash flow to equity | 1,809 | 1,669 | 1,446 | 1,117 | 656 | |
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% | 30.8% | 11.00% | 5% | ₹1,299 | 5.4% |
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.