Models
RADIANT CASH MGMT SER LTDRADIANTCMSCommercial Services & Supplies
₹38per 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₹38implied FY26 P/E 12.8× · EV/EBITDA 8.8×
Against CMP ₹36.11+4.4%close of 2026-09-10
Growth the CMP implies(3.2)%revenue, a year for 5 years, on your other inputs
Value after FY3168%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
₹31₹52
52-week rangetraded range, a fact not a value
₹32₹57
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 117 |
| PV of terminal value | 254 |
| Enterprise value | 370 |
| less net debt | 32 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 402 |
| ÷ 10.67 crore shares | ₹38 |
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% | 39 | 41 | 44 | 47 | 52 |
| 10.50% | 36 | 38 | 41 | 43 | 47 |
| 11.00% | 34 | 36 | 38 | 40 | 43 |
| 11.50% | 32 | 34 | 35 | 37 | 39 |
| 12.00% | 31 | 32 | 33 | 35 | 37 |
The outlined cell is your model. Green figures sit above the CMP of ₹36.11; 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 | 32 · 37 · 44 |
| Draws below the CMP | 38% |
| Rank correlation with ebitda margin | +0.78 |
| Rank correlation with discount rate | −0.59 |
| Rank correlation with revenue growth | −0.00 |
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 | 386 | 427 | 429 | 432 | 434 | 436 | 438 | 440 |
| growth % | — | 10.6 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 |
| EBITDA | 63 | 71 | 42 | 43 | 43 | 43 | 43 | 44 |
| margin % | 16.3 | 16.6 | 9.9 | 9.9 | 9.9 | 9.9 | 9.9 | 9.9 |
| less depreciation | (7) | (10) | (11) | (12) | (12) | (12) | (12) | (12) |
| EBIT | 56 | 61 | 31 | 31 | 31 | 31 | 32 | 32 |
| less tax on EBIT | (4) | (4) | (4) | (4) | (4) | (5) | ||
| NOPAT | 26 | 27 | 27 | 27 | 27 | 27 | ||
| add depreciation | 7 | 10 | 11 | 12 | 12 | 12 | 12 | 12 |
| less capex | (20) | (3) | (3) | (3) | (6) | (9) | (12) | (14) |
| less working-capital build | — | (0) | (0) | (0) | (0) | (0) | ||
| Free cash flow to firm | 21 | 40 | — | 34 | 32 | 30 | 27 | 24 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 33 | 27 | 23 | 19 | 15 |
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 184, dividends at 82.7% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 31 | 31 | 31 | 31 | 32 | 32 |
| Interest at 4.9% on debt | (9) | (9) | (9) | (9) | (9) | |
| Profit before tax | 22 | 22 | 22 | 23 | 23 | |
| Profit after tax | 32 | 19 | 19 | 19 | 19 | 19 |
| Dividends | (27) | (16) | (16) | (16) | (16) | (16) |
| Balance sheet, year end | ||||||
| Cash | 216 | 227 | 236 | 241 | 245 | 245 |
| Working capital | 78 | 79 | 79 | 79 | 80 | 80 |
| Net block and other assets | 214 | 206 | 200 | 197 | 197 | 199 |
| Debt | 184 | 184 | 184 | 184 | 184 | 184 |
| Equity | 275 | 278 | 282 | 285 | 288 | 292 |
| Balance check | 0 | 0 | 0 | (0) | 0 | (0) |
| Cash flow | ||||||
| From operations | 30 | 30 | 31 | 31 | 31 | |
| Investing (capex) | (3) | (6) | (9) | (12) | (14) | |
| Financing (dividends) | (16) | (16) | (16) | (16) | (16) | |
| Net change in cash | 11 | 8 | 6 | 3 | 1 | |
| Free cash flow to equity | 27 | 24 | 22 | 19 | 17 | |
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 | 0.5% | 9.9% | 11.00% | 5% | ₹38 | 4.4% |
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.