₹550per share · Base Model Note
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₹550implied P/B 0.85× on FY26 book
Against CMP ₹304.25+80.7%close of 28 Oct 2026
Cost of equity12.76%risk-free + beta × equity risk premium
Book equity, FY26₹646per share · excess returns add ₹(96)
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 | 4,041 | 4,464 | 4,932 | 5,449 | 6,020 |
| Net income at 11.8% ROE | 477 | 527 | 582 | 643 | 710 |
| Cost of equity charge at 12.76% | (515) | (569) | (629) | (695) | (768) |
| Excess return | (39) | (43) | (47) | (52) | (58) |
| Present value | (36) | (36) | (35) | (34) | (34) |
| Closing book equity | 4,464 | 4,932 | 5,449 | 6,020 | 6,651 |
| Book equity today | 4,041 |
| PV of 5 years of excess return | (175) |
| PV of the terminal excess return, 5% flat | (427) |
| add non-operating investments | 0 |
| Equity value | 3,439 |
| ÷ 6.26 crore shares | ₹550 |
ROE is at or below the cost of equity, so every year destroys value against book and the model lands below book value. That is the arithmetic, not a view.
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹294₹456
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 11.8% | — | 12.76% | 5% | ₹550 | 80.7% |
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.