Models
PVV Infra LimitedBSE 536659Construction
₹20per 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₹20implied FY26 P/E 32.2× · EV/EBITDA 36.1×
Against CMP ₹2.07+863.1%close of 8 Oct 2026
Growth the CMP implies(12.6)%revenue, a year for 5 years, on your other inputs
Value after FY3191%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
₹14₹31
52-week rangetraded range, a fact not a value
₹2₹6
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 27 |
| PV of terminal value | 277 |
| Enterprise value | 303 |
| less net debt | (11) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 292 |
| ÷ 14.67 crore shares | ₹20 |
91% 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% | 21 | 23 | 25 | 28 | 31 |
| 10.50% | 19 | 20 | 22 | 24 | 27 |
| 11.00% | 17 | 18 | 20 | 22 | 24 |
| 11.50% | 16 | 17 | 18 | 20 | 21 |
| 12.00% | 14 | 15 | 16 | 18 | 19 |
The outlined cell is your model. Green figures sit above the CMP of ₹2.07; 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 | 14 · 20 · 28 |
| Draws below the CMP | 0% |
| Rank correlation with revenue growth | +0.84 |
| Rank correlation with discount rate | −0.41 |
| Rank correlation with ebitda margin | +0.29 |
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 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|
| Revenue | 40 | 57 | 74 | 96 | 124 | 162 | 210 |
| growth % | — | 42.2 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 5 | 8 | 11 | 14 | 19 | 24 | 31 |
| margin % | 12.8 | 14.9 | 14.9 | 14.9 | 14.9 | 14.9 | 14.9 |
| less depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT | 5 | 8 | 11 | 14 | 19 | 24 | 31 |
| less tax on EBIT | (1) | (2) | (2) | (3) | (4) | (5) | |
| NOPAT | 7 | 9 | 12 | 16 | 20 | 27 | |
| add depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| less capex | (7) | (10) | (13) | (12) | (11) | (7) | 0 |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | |
| Free cash flow to firm | (31) | — | (3) | (0) | 5 | 14 | 27 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | (3) | (0) | 4 | 9 | 17 |
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 12, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 8 | 11 | 14 | 19 | 24 | 31 |
| Interest at 8% on debt | (1) | (1) | (1) | (1) | (1) | |
| Profit before tax | 10 | 13 | 18 | 23 | 30 | |
| Profit after tax | 7 | 9 | 11 | 15 | 20 | 26 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 0 | (4) | (5) | (1) | 12 | 38 |
| Working capital | 0 | 0 | 0 | 0 | 0 | 0 |
| Net block and other assets | 119 | 132 | 144 | 155 | 161 | 161 |
| Debt | 12 | 12 | 12 | 12 | 12 | 12 |
| Equity | 78 | 86 | 98 | 113 | 132 | 158 |
| Balance check | 0 | 0 | 0 | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 9 | 11 | 15 | 20 | 26 | |
| Investing (capex) | (13) | (12) | (11) | (7) | 0 | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (4) | (1) | 4 | 13 | 26 | |
| Free cash flow to equity | (4) | (1) | 4 | 13 | 26 | |
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 | 30% | 14.9% | 11.00% | 5% | ₹20 | 863.1% |
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.