Models
RACL GEARTECH LIMITEDRACLGEARAuto Components
₹112per 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₹112implied FY26 P/E 2.6× · EV/EBITDA 3.3×
Against CMP ₹1,792.00−93.8%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3185%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
₹39₹257
52-week rangetraded range, a fact not a value
₹890₹1,692
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 54 |
| PV of terminal value | 301 |
| Enterprise value | 354 |
| less net debt | (218) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 136 |
| ÷ 1.22 crore shares | ₹112 |
85% 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% | 122 | 146 | 176 | 212 | 257 |
| 10.50% | 96 | 117 | 141 | 170 | 205 |
| 11.00% | 75 | 92 | 112 | 135 | 164 |
| 11.50% | 56 | 70 | 87 | 107 | 130 |
| 12.00% | 39 | 52 | 66 | 83 | 102 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,792.00; 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 | (162) · 110 · 330 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.81 |
| Rank correlation with revenue growth | −0.54 |
| Rank correlation with discount rate | −0.14 |
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 | 358 | 410 | 415 | 490 | 578 | 682 | 805 | 950 | 1,121 |
| growth % | 32.1 | 14.3 | 1.4 | 18.0 | 18.0 | 18.0 | 18.0 | 18.0 | 18.0 |
| EBITDA | 82 | 96 | 83 | 107 | 126 | 149 | 175 | 207 | 244 |
| margin % | 22.8 | 23.4 | 19.9 | 21.8 | 21.8 | 21.8 | 21.8 | 21.8 | 21.8 |
| less depreciation | (19) | (25) | (30) | (34) | (39) | (46) | (55) | (65) | (76) |
| EBIT | 63 | 71 | 53 | 73 | 87 | 102 | 121 | 142 | 168 |
| less tax on EBIT | (19) | (22) | (26) | (31) | (36) | (43) | |||
| NOPAT | 55 | 65 | 76 | 90 | 106 | 125 | |||
| add depreciation | 19 | 25 | 30 | 34 | 39 | 46 | 55 | 65 | 76 |
| less capex | (62) | (93) | (45) | (49) | (58) | (65) | (73) | (82) | (91) |
| less working-capital build | — | (42) | (49) | (58) | (69) | (81) | |||
| Free cash flow to firm | (2) | (58) | 12 | — | 4 | 8 | 13 | 20 | 29 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 4 | 7 | 10 | 14 | 18 |
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 225, dividends at 3.6% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 73 | 87 | 102 | 121 | 142 | 168 |
| Interest at 11.4% on debt | (26) | (26) | (26) | (26) | (26) | |
| Profit before tax | 61 | 77 | 95 | 117 | 143 | |
| Profit after tax | 49 | 46 | 57 | 71 | 87 | 106 |
| Dividends | (2) | (2) | (2) | (3) | (3) | (4) |
| Balance sheet, year end | ||||||
| Cash | 6 | (10) | (23) | (31) | (33) | (27) |
| Working capital | 232 | 274 | 323 | 382 | 450 | 531 |
| Net block and other assets | 463 | 481 | 500 | 518 | 536 | 551 |
| Debt | 225 | 225 | 225 | 225 | 225 | 225 |
| Equity | 352 | 396 | 451 | 520 | 604 | 706 |
| Balance check | 0 | (0) | (0) | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 43 | 54 | 67 | 83 | 101 | |
| Investing (capex) | (58) | (65) | (73) | (82) | (91) | |
| Financing (dividends) | (2) | (2) | (3) | (3) | (4) | |
| Net change in cash | (16) | (13) | (8) | (2) | 6 | |
| Free cash flow to equity | (15) | (11) | (6) | 1 | 10 | |
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 | 18% | 21.8% | 11.00% | 5% | ₹112 | (93.8)% |
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.