Models
REC LIMITEDRECLTDFinance
₹575per 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₹575implied P/B 1.78× on FY26 book
Against CMP ₹312.70+84.0%close of 2026-09-10
Cost of equity13.78%risk-free + beta × equity risk premium
Book equity, FY26₹323per share · excess returns add ₹252
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Excess-return schedule · ₹ crore · book equity earns your ROE; value is book plus the returns above the cost of equity
| ₹ crore | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|
| Opening book equity | 85,054 | 95,260 | 1,06,692 | 1,19,495 | 1,33,834 |
| Net income at 19.2% ROE | 16,330 | 18,290 | 20,485 | 22,943 | 25,696 |
| Cost of equity charge at 13.78% | (11,720) | (13,126) | (14,701) | (16,465) | (18,441) |
| Excess return | 4,611 | 5,164 | 5,784 | 6,478 | 7,255 |
| Present value | 4,323 | 4,255 | 4,189 | 4,123 | 4,059 |
| Closing book equity | 95,260 | 1,06,692 | 1,19,495 | 1,33,834 | 1,49,894 |
| Book equity today | 85,054 |
| PV of 5 years of excess return | 20,948 |
| PV of the terminal excess return, 5% flat | 45,509 |
| add non-operating investments | 0 |
| Equity value | 1,51,511 |
| ÷ 263.32 crore shares | ₹575 |
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹304₹391
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 19.2% | — | 13.78% | 5% | ₹575 | 84.0% |
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.