Models
R R KABEL LIMITEDRRKABELIndustrial Products
₹644per 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₹644implied FY26 P/E 12.0× · EV/EBITDA 9.7×
Against CMP ₹2,427.40−73.5%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3188%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
₹473₹985
52-week rangetraded range, a fact not a value
₹1,182₹2,984
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 871 |
| PV of terminal value | 6,563 |
| Enterprise value | 7,434 |
| less net debt | (147) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 7,287 |
| ÷ 11.32 crore shares | ₹644 |
88% 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% | 667 | 725 | 794 | 879 | 985 |
| 10.50% | 607 | 655 | 712 | 780 | 863 |
| 11.00% | 556 | 597 | 644 | 699 | 766 |
| 11.50% | 512 | 546 | 586 | 632 | 687 |
| 12.00% | 473 | 503 | 537 | 576 | 621 |
The outlined cell is your model. Green figures sit above the CMP of ₹2,427.40; 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 | 379 · 629 · 876 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.89 |
| Rank correlation with discount rate | −0.34 |
| Rank correlation with revenue growth | −0.22 |
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 | 6,595 | 7,618 | 9,722 | 12,396 | 15,805 | 20,151 | 25,693 | 32,758 |
| growth % | — | 15.5 | 27.6 | 27.5 | 27.5 | 27.5 | 27.5 | 27.5 |
| EBITDA | 463 | 488 | 765 | 979 | 1,249 | 1,592 | 2,030 | 2,588 |
| margin % | 7.0 | 6.4 | 7.9 | 7.9 | 7.9 | 7.9 | 7.9 | 7.9 |
| less depreciation | (65) | (70) | (92) | (112) | (142) | (181) | (231) | (295) |
| EBIT | 397 | 417 | 673 | 868 | 1,106 | 1,411 | 1,798 | 2,293 |
| less tax on EBIT | (171) | (221) | (282) | (360) | (459) | (585) | ||
| NOPAT | 501 | 646 | 824 | 1,051 | 1,340 | 1,708 | ||
| add depreciation | 65 | 70 | 92 | 112 | 142 | 181 | 231 | 295 |
| less capex | (190) | (367) | (291) | (372) | (398) | (411) | (401) | (354) |
| less working-capital build | — | (385) | (491) | (626) | (798) | (1,017) | ||
| Free cash flow to firm | 149 | 127 | — | 1 | 77 | 195 | 372 | 632 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 1 | 66 | 150 | 258 | 395 |
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 232, dividends at 17.2% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 673 | 868 | 1,106 | 1,411 | 1,798 | 2,293 |
| Interest at 8% on debt | (19) | (19) | (19) | (19) | (19) | |
| Profit before tax | 849 | 1,088 | 1,392 | 1,780 | 2,275 | |
| Profit after tax | 492 | 633 | 810 | 1,037 | 1,326 | 1,695 |
| Dividends | (85) | (109) | (139) | (178) | (228) | (291) |
| Balance sheet, year end | ||||||
| Cash | 86 | (36) | (112) | (109) | 22 | 348 |
| Working capital | 1,404 | 1,789 | 2,280 | 2,906 | 3,704 | 4,721 |
| Net block and other assets | 3,132 | 3,392 | 3,648 | 3,878 | 4,048 | 4,107 |
| Debt | 232 | 232 | 232 | 232 | 232 | 232 |
| Equity | 2,574 | 3,098 | 3,769 | 4,628 | 5,726 | 7,129 |
| Balance check | 0 | 0 | 0 | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 359 | 462 | 593 | 759 | 972 | |
| Investing (capex) | (372) | (398) | (411) | (401) | (354) | |
| Financing (dividends) | (109) | (139) | (178) | (228) | (291) | |
| Net change in cash | (122) | (76) | 3 | 130 | 327 | |
| Free cash flow to equity | (13) | 63 | 181 | 358 | 618 | |
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 | 27.5% | 7.9% | 11.00% | 5% | ₹644 | (73.5)% |
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.