Models
RNIT AI SOLUTIONS LIMITEDBSE 517286IT - Software
₹34per 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₹34implied FY26 P/E 21.9× · EV/EBITDA 13.3×
Against CMP ₹99.99−66.3%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3197%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
₹25₹52
52-week rangetraded range, a fact not a value
₹37₹105
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 8 |
| PV of terminal value | 266 |
| Enterprise value | 275 |
| less net debt | 11 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 286 |
| ÷ 8.48 crore shares | ₹34 |
97% 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% | 35 | 38 | 42 | 46 | 52 |
| 10.50% | 32 | 34 | 37 | 41 | 46 |
| 11.00% | 29 | 31 | 34 | 37 | 40 |
| 11.50% | 27 | 28 | 31 | 33 | 36 |
| 12.00% | 25 | 26 | 28 | 30 | 33 |
The outlined cell is your model. Green figures sit above the CMP of ₹99.99; 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 | 24 · 33 · 45 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.76 |
| Rank correlation with discount rate | −0.43 |
| Rank correlation with revenue growth | +0.41 |
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 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|
| Revenue | 32 | 51 | 67 | 87 | 113 | 147 | 191 |
| growth % | — | 59.8 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 10 | 21 | 27 | 35 | 45 | 59 | 77 |
| margin % | 31.7 | 40.2 | 40.2 | 40.2 | 40.2 | 40.2 | 40.2 |
| less depreciation | (3) | (4) | (5) | (7) | (9) | (11) | (15) |
| EBIT | 7 | 17 | 22 | 28 | 37 | 48 | 62 |
| less tax on EBIT | (5) | (6) | (8) | (10) | (13) | (17) | |
| NOPAT | 12 | 16 | 20 | 27 | 34 | 45 | |
| add depreciation | 3 | 4 | 5 | 7 | 9 | 11 | 15 |
| less capex | (17) | (19) | (25) | (26) | (26) | (24) | (18) |
| less working-capital build | — | (6) | (7) | (10) | (12) | (16) | |
| Free cash flow to firm | (24) | — | (9) | (6) | (0) | 10 | 26 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | (9) | (5) | (0) | 7 | 16 |
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 18, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 17 | 22 | 28 | 37 | 48 | 62 |
| Interest at 5.7% on debt | (1) | (1) | (1) | (1) | (1) | |
| Profit before tax | 21 | 27 | 36 | 47 | 61 | |
| Profit after tax | 12 | 15 | 20 | 26 | 34 | 44 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 29 | 19 | 12 | 10 | 19 | 44 |
| Working capital | 19 | 24 | 32 | 41 | 54 | 70 |
| Net block and other assets | 120 | 139 | 158 | 176 | 188 | 191 |
| Debt | 18 | 18 | 18 | 18 | 18 | 18 |
| Equity | 139 | 154 | 174 | 199 | 233 | 277 |
| Balance check | 0 | 0 | 0 | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 15 | 19 | 25 | 33 | 43 | |
| Investing (capex) | (25) | (26) | (26) | (24) | (18) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (10) | (7) | (1) | 9 | 25 | |
| Free cash flow to equity | (10) | (7) | (1) | 9 | 25 | |
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 | 30% | 40.2% | 11.00% | 5% | ₹34 | (66.3)% |
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.