Models
SADBHAV INFRA PROJ LTD.SADBHINTransport Infrastructure
₹49per 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₹49implied FY26 P/E 984.7× · EV/EBITDA 10.5×
Against CMP ₹2.50+1869.3%close of 2026-09-20
Growth the CMP implies(2.1)%revenue, a year for 5 years, on your other inputs
Value after FY3169%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
₹24₹99
52-week rangetraded range, a fact not a value
₹2₹5
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,325 |
| PV of terminal value | 2,950 |
| Enterprise value | 4,275 |
| less net debt | (2,541) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,734 |
| ÷ 35.22 crore shares | ₹49 |
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% | 53 | 61 | 71 | 84 | 99 |
| 10.50% | 44 | 51 | 59 | 69 | 81 |
| 11.00% | 37 | 42 | 49 | 57 | 67 |
| 11.50% | 30 | 35 | 41 | 47 | 55 |
| 12.00% | 24 | 29 | 33 | 39 | 46 |
The outlined cell is your model. Green figures sit above the CMP of ₹2.50; 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 | 25 · 48 · 76 |
| Draws below the CMP | 0% |
| Rank correlation with ebitda margin | +0.71 |
| Rank correlation with discount rate | −0.50 |
| Rank correlation with revenue growth | +0.42 |
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 | 825 | 779 | 704 | 775 | 852 | 937 | 1,031 | 1,134 | 1,247 |
| growth % | (14.3) | (5.6) | (9.6) | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 |
| EBITDA | (21) | (126) | 387 | 409 | 450 | 495 | 544 | 599 | 659 |
| margin % | (2.5) | (16.2) | 55.0 | 52.8 | 52.8 | 52.8 | 52.8 | 52.8 | 52.8 |
| less depreciation | (86) | (101) | (118) | (136) | (149) | (164) | (180) | (198) | (218) |
| EBIT | (107) | (228) | 269 | 273 | 301 | 331 | 364 | 400 | 440 |
| less tax on EBIT | (70) | (77) | (84) | (93) | (102) | (112) | |||
| NOPAT | 203 | 224 | 246 | 271 | 298 | 328 | |||
| add depreciation | 86 | 101 | 118 | 136 | 149 | 164 | 180 | 198 | 218 |
| less capex | 0 | 0 | 0 | 0 | 0 | (49) | (108) | (179) | (262) |
| less working-capital build | — | (0) | (0) | (0) | (0) | (0) | |||
| Free cash flow to firm | 1,643 | 1,265 | 606 | — | 373 | 361 | 343 | 318 | 284 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 354 | 309 | 264 | 221 | 178 |
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 2,592, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 273 | 301 | 331 | 364 | 400 | 440 |
| Interest at 9.1% on debt | (236) | (236) | (236) | (236) | (236) | |
| Profit before tax | 65 | 95 | 128 | 164 | 204 | |
| Profit after tax | (20) | 48 | 71 | 95 | 122 | 152 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 52 | 249 | 434 | 601 | 743 | 852 |
| Working capital | 2 | 3 | 3 | 3 | 3 | 4 |
| Net block and other assets | 4,288 | 4,139 | 4,024 | 3,952 | 3,932 | 3,976 |
| Debt | 2,592 | 2,592 | 2,592 | 2,592 | 2,592 | 2,592 |
| Equity | (575) | (526) | (456) | (360) | (238) | (85) |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 197 | 234 | 276 | 321 | 370 | |
| Investing (capex) | 0 | (49) | (108) | (179) | (262) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 197 | 185 | 167 | 142 | 108 | |
| Free cash flow to equity | 197 | 185 | 167 | 142 | 108 | |
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 | 10% | 52.8% | 11.00% | 5% | ₹49 | 1869.3% |
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.