Models
SAI PARENTERALS LIMITEDSAIPARENTPharmaceuticals & Biotechnology
₹59per 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₹59implied FY26 P/E —× · EV/EBITDA 4.2×
Against CMP ₹524.95−88.7%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3174%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
₹51₹75
52-week rangetraded range, a fact not a value
₹400₹706
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 43 |
| PV of terminal value | 121 |
| Enterprise value | 164 |
| less net debt | 97 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 261 |
| ÷ 4.42 crore shares | ₹59 |
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% | 60 | 63 | 66 | 70 | 75 |
| 10.50% | 57 | 60 | 62 | 66 | 70 |
| 11.00% | 55 | 57 | 59 | 62 | 65 |
| 11.50% | 53 | 54 | 56 | 58 | 61 |
| 12.00% | 51 | 52 | 54 | 56 | 58 |
The outlined cell is your model. Green figures sit above the CMP of ₹524.95; 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 | 32 · 59 · 83 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.84 |
| Rank correlation with revenue growth | −0.51 |
| Rank correlation with discount rate | −0.15 |
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 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Revenue | 381 | 411 | 444 | 480 | 518 | 560 |
| growth % | — | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 |
| EBITDA | 39 | 42 | 45 | 49 | 53 | 57 |
| margin % | 10.2 | 10.2 | 10.2 | 10.2 | 10.2 | 10.2 |
| less depreciation | (17) | (18) | (20) | (21) | (23) | (25) |
| EBIT | 22 | 24 | 26 | 28 | 30 | 32 |
| less tax on EBIT | 4 | 5 | 5 | 5 | 6 | 6 |
| NOPAT | 26 | 29 | 31 | 33 | 36 | 39 |
| add depreciation | 17 | 18 | 20 | 21 | 23 | 25 |
| less capex | (18) | (20) | (22) | (24) | (27) | (30) |
| less working-capital build | — | (16) | (18) | (19) | (21) | (22) |
| Free cash flow to firm | — | 11 | 11 | 11 | 11 | 12 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |
| Present value | 10 | 9 | 9 | 8 | 7 |
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 319, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 22 | 24 | 26 | 28 | 30 | 32 |
| Interest at 5.8% on debt | (19) | (19) | (19) | (19) | (19) | |
| Profit before tax | 5 | 7 | 9 | 12 | 14 | |
| Profit after tax | 14 | 6 | 9 | 11 | 14 | 17 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 417 | 405 | 394 | 383 | 372 | 362 |
| Working capital | 204 | 221 | 238 | 257 | 278 | 300 |
| Net block and other assets | 803 | 805 | 807 | 810 | 814 | 819 |
| Debt | 319 | 319 | 319 | 319 | 319 | 319 |
| Equity | 495 | 502 | 510 | 521 | 535 | 552 |
| Balance check | 0 | 0 | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 8 | 11 | 13 | 16 | 19 | |
| Investing (capex) | (20) | (22) | (24) | (27) | (30) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (12) | (11) | (11) | (11) | (10) | |
| Free cash flow to equity | (12) | (11) | (11) | (11) | (10) | |
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 | 8% | 10.2% | 11.00% | 5% | ₹59 | (88.7)% |
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.