Models
SALONA COTSPIN LTD.SALONATextiles & Apparels
₹-82per 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₹(82)implied FY26 P/E (12.3)× · EV/EBITDA 4.3×
Against CMP ₹260.05−131.4%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3170%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
₹(140)₹34
52-week rangetraded range, a fact not a value
₹200₹320
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 45 |
| PV of terminal value | 102 |
| Enterprise value | 147 |
| less net debt | (190) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | (43) |
| ÷ 0.53 crore shares | ₹(82) |
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% | (73) | (54) | (30) | (2) | 34 |
| 10.50% | (93) | (77) | (58) | (36) | (8) |
| 11.00% | (111) | (98) | (82) | (63) | (41) |
| 11.50% | (126) | (115) | (101) | (86) | (68) |
| 12.00% | (140) | (130) | (118) | (105) | (90) |
The outlined cell is your model. Green figures sit above the CMP of ₹260.05; 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 | (118) · (81) · (37) |
| Draws below the CMP | 100% |
| Rank correlation with discount rate | −0.79 |
| Rank correlation with ebitda margin | +0.58 |
| 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 | 487 | 722 | 662 | 594 | 564 | 536 | 509 | 484 | 459 |
| growth % | 1094.0 | 48.3 | (8.3) | (10.3) | (5.0) | (5.0) | (5.0) | (5.0) | (5.0) |
| EBITDA | 35 | 30 | 32 | 34 | 33 | 31 | 30 | 28 | 27 |
| margin % | 7.2 | 4.2 | 4.8 | 5.8 | 5.8 | 5.8 | 5.8 | 5.8 | 5.8 |
| less depreciation | (5) | (7) | (8) | (10) | (10) | (9) | (9) | (8) | (8) |
| EBIT | 29 | 23 | 24 | 24 | 23 | 22 | 21 | 20 | 19 |
| less tax on EBIT | (16) | (16) | (15) | (14) | (13) | (13) | |||
| NOPAT | 8 | 8 | 7 | 7 | 6 | 6 | |||
| add depreciation | 5 | 7 | 8 | 10 | 10 | 9 | 9 | 8 | 8 |
| less capex | (4) | (72) | (26) | (11) | (11) | (10) | (10) | (10) | (9) |
| less working-capital build | — | 6 | 6 | 6 | 6 | 5 | |||
| Free cash flow to firm | (9) | (84) | 37 | — | 13 | 12 | 11 | 11 | 10 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 12 | 10 | 9 | 7 | 6 |
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 190, dividends at 33.7% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 24 | 23 | 22 | 21 | 20 | 19 |
| Interest at 9.3% on debt | (18) | (18) | (18) | (18) | (18) | |
| Profit before tax | 5 | 4 | 3 | 2 | 1 | |
| Profit after tax | 2 | 2 | 1 | 1 | 1 | 0 |
| Dividends | (1) | (1) | (0) | (0) | (0) | (0) |
| Balance sheet, year end | ||||||
| Cash | 0 | 7 | 12 | 18 | 22 | 26 |
| Working capital | 130 | 123 | 117 | 111 | 105 | 100 |
| Net block and other assets | 175 | 176 | 177 | 178 | 180 | 181 |
| Debt | 190 | 190 | 190 | 190 | 190 | 190 |
| Equity | 84 | 85 | 86 | 87 | 87 | 87 |
| Balance check | 0 | 0 | 0 | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 18 | 17 | 16 | 14 | 13 | |
| Investing (capex) | (11) | (10) | (10) | (10) | (9) | |
| Financing (dividends) | (1) | (0) | (0) | (0) | (0) | |
| Net change in cash | 7 | 6 | 5 | 5 | 4 | |
| Free cash flow to equity | 7 | 6 | 6 | 5 | 4 | |
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 | -5% | 5.8% | 11.00% | 5% | ₹(82) | (131.4)% |
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.