Models
SAHYADRI INDUSTRIES LTDSAHYADRIOther Construction Materials
₹115per 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₹115implied FY26 P/E 2.8× · EV/EBITDA 2.2×
Against CMP ₹391.50−70.7%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3155%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
₹94₹156
52-week rangetraded range, a fact not a value
₹200₹407
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 61 |
| PV of terminal value | 75 |
| Enterprise value | 136 |
| less net debt | (10) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 126 |
| ÷ 1.10 crore shares | ₹115 |
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% | 118 | 125 | 133 | 143 | 156 |
| 10.50% | 111 | 116 | 123 | 131 | 141 |
| 11.00% | 104 | 109 | 115 | 121 | 129 |
| 11.50% | 99 | 103 | 108 | 113 | 120 |
| 12.00% | 94 | 98 | 102 | 106 | 111 |
The outlined cell is your model. Green figures sit above the CMP of ₹391.50; 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 | (22) · 114 · 228 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.79 |
| Rank correlation with revenue growth | −0.59 |
| Rank correlation with discount rate | −0.08 |
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 | 594 | 634 | 605 | 679 | 760 | 851 | 954 | 1,068 | 1,196 |
| growth % | 9.5 | 6.8 | (4.6) | 12.1 | 12.0 | 12.0 | 12.0 | 12.0 | 12.0 |
| EBITDA | 81 | 66 | 54 | 60 | 68 | 76 | 85 | 95 | 106 |
| margin % | 13.6 | 10.5 | 9.0 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 |
| less depreciation | (24) | (24) | (25) | (25) | (27) | (31) | (34) | (38) | (43) |
| EBIT | 57 | 42 | 30 | 36 | 40 | 45 | 51 | 57 | 63 |
| less tax on EBIT | (9) | (10) | (11) | (13) | (14) | (16) | |||
| NOPAT | 27 | 30 | 34 | 38 | 42 | 47 | |||
| add depreciation | 24 | 24 | 25 | 25 | 27 | 31 | 34 | 38 | 43 |
| less capex | (55) | (37) | (22) | (15) | (17) | (23) | (31) | (40) | (52) |
| less working-capital build | — | (20) | (23) | (25) | (28) | (32) | |||
| Free cash flow to firm | (39) | 21 | 32 | — | 21 | 19 | 16 | 12 | 7 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 20 | 16 | 12 | 8 | 5 |
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 16, dividends at 3.8% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 36 | 40 | 45 | 51 | 57 | 63 |
| Interest at 7.1% on debt | (1) | (1) | (1) | (1) | (1) | |
| Profit before tax | 39 | 44 | 49 | 55 | 62 | |
| Profit after tax | 29 | 29 | 33 | 37 | 42 | 47 |
| Dividends | (1) | (1) | (1) | (1) | (2) | (2) |
| Balance sheet, year end | ||||||
| Cash | 7 | 25 | 42 | 56 | 65 | 70 |
| Working capital | 168 | 188 | 210 | 235 | 264 | 295 |
| Net block and other assets | 358 | 347 | 340 | 337 | 339 | 347 |
| Debt | 16 | 16 | 16 | 16 | 16 | 16 |
| Equity | 406 | 434 | 466 | 502 | 541 | 586 |
| Balance check | 0 | 0 | 0 | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 37 | 41 | 46 | 52 | 58 | |
| Investing (capex) | (17) | (23) | (31) | (40) | (52) | |
| Financing (dividends) | (1) | (1) | (1) | (2) | (2) | |
| Net change in cash | 19 | 17 | 14 | 10 | 5 | |
| Free cash flow to equity | 20 | 18 | 15 | 11 | 6 | |
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 | 12% | 8.9% | 11.00% | 5% | ₹115 | (70.7)% |
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.