Models
QUALITY POWER ELEC EQUP LQPOWER
₹511per 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₹511implied FY26 P/E 29.7× · EV/EBITDA 21.6×
Against CMP ₹1,429.00−64.2%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
₹380₹773
52-week rangetraded range, a fact not a value
₹581₹1,570
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 362 |
| PV of terminal value | 3,447 |
| Enterprise value | 3,809 |
| less net debt | 148 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 3,957 |
| ÷ 7.74 crore shares | ₹511 |
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% | 529 | 573 | 627 | 692 | 773 |
| 10.50% | 483 | 520 | 563 | 616 | 680 |
| 11.00% | 444 | 475 | 511 | 554 | 605 |
| 11.50% | 410 | 436 | 467 | 502 | 544 |
| 12.00% | 380 | 403 | 429 | 459 | 494 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,429.00; 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 | 383 · 504 · 665 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.61 |
| Rank correlation with revenue growth | +0.58 |
| Rank correlation with discount rate | −0.47 |
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 | 337 | 947 | 1,231 | 1,601 | 2,081 | 2,706 | 3,517 |
| growth % | — | 181.4 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 64 | 176 | 229 | 298 | 387 | 503 | 654 |
| margin % | 18.9 | 18.6 | 18.6 | 18.6 | 18.6 | 18.6 | 18.6 |
| less depreciation | (5) | (13) | (17) | (22) | (29) | (38) | (49) |
| EBIT | 59 | 163 | 212 | 275 | 358 | 465 | 605 |
| less tax on EBIT | (26) | (34) | (44) | (57) | (74) | (97) | |
| NOPAT | 137 | 178 | 231 | 301 | 391 | 508 | |
| add depreciation | 5 | 13 | 17 | 22 | 29 | 38 | 49 |
| less capex | (16) | (129) | (167) | (170) | (159) | (126) | (59) |
| less working-capital build | — | (58) | (76) | (98) | (128) | (166) | |
| Free cash flow to firm | 47 | — | (31) | 8 | 72 | 175 | 332 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | (29) | 7 | 56 | 121 | 208 |
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 35, dividends at 1.7% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 163 | 212 | 275 | 358 | 465 | 605 |
| Interest at 8% on debt | (3) | (3) | (3) | (3) | (3) | |
| Profit before tax | 209 | 273 | 355 | 463 | 602 | |
| Profit after tax | 121 | 176 | 229 | 298 | 389 | 506 |
| Dividends | (2) | (3) | (4) | (5) | (7) | (9) |
| Balance sheet, year end | ||||||
| Cash | 184 | 148 | 150 | 214 | 380 | 701 |
| Working capital | 194 | 252 | 328 | 427 | 555 | 721 |
| Net block and other assets | 734 | 884 | 1,032 | 1,162 | 1,250 | 1,260 |
| Debt | 35 | 35 | 35 | 35 | 35 | 35 |
| Equity | 773 | 946 | 1,171 | 1,464 | 1,846 | 2,343 |
| Balance check | 0 | 0 | 0 | 0 | (0) | 0 |
| Cash flow | ||||||
| From operations | 135 | 176 | 229 | 298 | 389 | |
| Investing (capex) | (167) | (170) | (159) | (126) | (59) | |
| Financing (dividends) | (3) | (4) | (5) | (7) | (9) | |
| Net change in cash | (36) | 2 | 65 | 166 | 321 | |
| Free cash flow to equity | (33) | 6 | 70 | 172 | 330 | |
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% | 18.6% | 11.00% | 5% | ₹511 | (64.2)% |
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.