Models
ROUTE MOBILE LIMITEDROUTETelecom - Services
₹596per 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₹596implied FY26 P/E 15.1× · EV/EBITDA 7.2×
Against CMP ₹493.50+20.7%close of 2026-09-10
Growth the CMP implies(13.3)%revenue, a year for 5 years, on your other inputs
Value after FY3167%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
₹505₹777
52-week rangetraded range, a fact not a value
₹411₹890
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 951 |
| PV of terminal value | 1,922 |
| Enterprise value | 2,873 |
| less net debt | 880 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 3,753 |
| ÷ 6.30 crore shares | ₹596 |
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% | 610 | 640 | 676 | 721 | 777 |
| 10.50% | 577 | 603 | 632 | 668 | 712 |
| 11.00% | 550 | 571 | 596 | 625 | 660 |
| 11.50% | 526 | 544 | 565 | 589 | 618 |
| 12.00% | 505 | 520 | 538 | 558 | 582 |
The outlined cell is your model. Green figures sit above the CMP of ₹493.50; 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 | 527 · 596 · 679 |
| Draws below the CMP | 3% |
| Rank correlation with ebitda margin | +0.73 |
| Rank correlation with discount rate | −0.65 |
| Rank correlation with revenue growth | −0.03 |
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 | 3,569 | 4,023 | 4,576 | 4,408 | 4,254 | 4,105 | 3,961 | 3,823 | 3,689 |
| growth % | 78.3 | 12.7 | 13.7 | (3.7) | (3.5) | (3.5) | (3.5) | (3.5) | (3.5) |
| EBITDA | 444 | 528 | 509 | 401 | 387 | 374 | 360 | 348 | 336 |
| margin % | 12.4 | 13.1 | 11.1 | 9.1 | 9.1 | 9.1 | 9.1 | 9.1 | 9.1 |
| less depreciation | (82) | (86) | (89) | (92) | (89) | (86) | (83) | (80) | (77) |
| EBIT | 363 | 442 | 420 | 310 | 298 | 287 | 277 | 268 | 258 |
| less tax on EBIT | (84) | (81) | (78) | (75) | (73) | (70) | |||
| NOPAT | 226 | 217 | 209 | 202 | 195 | 188 | |||
| add depreciation | 82 | 86 | 89 | 92 | 89 | 86 | 83 | 80 | 77 |
| less capex | (38) | (36) | (21) | (26) | (26) | (44) | (62) | (78) | (93) |
| less working-capital build | — | 15 | 14 | 14 | 13 | 13 | |||
| Free cash flow to firm | 35 | (133) | 581 | — | 295 | 265 | 237 | 210 | 185 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 280 | 227 | 182 | 146 | 116 |
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 0, dividends at 29.9% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 310 | 298 | 287 | 277 | 268 | 258 |
| Interest at 4.9% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 298 | 287 | 277 | 268 | 258 | |
| Profit after tax | 239 | 217 | 209 | 202 | 195 | 188 |
| Dividends | (72) | (65) | (63) | (60) | (58) | (56) |
| Balance sheet, year end | ||||||
| Cash | 880 | 1,110 | 1,313 | 1,489 | 1,641 | 1,770 |
| Working capital | 413 | 399 | 385 | 371 | 358 | 345 |
| Net block and other assets | 2,263 | 2,199 | 2,157 | 2,136 | 2,134 | 2,149 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 2,822 | 2,974 | 3,120 | 3,262 | 3,398 | 3,530 |
| Balance check | 0 | (0) | 0 | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 321 | 309 | 299 | 288 | 278 | |
| Investing (capex) | (26) | (44) | (62) | (78) | (93) | |
| Financing (dividends) | (65) | (63) | (60) | (58) | (56) | |
| Net change in cash | 230 | 203 | 176 | 152 | 129 | |
| Free cash flow to equity | 295 | 265 | 237 | 210 | 185 | |
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 | -3.5% | 9.1% | 11.00% | 5% | ₹596 | 20.7% |
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.