Models
SANGHVI MOVERS LTDSANGHVIMOVCommercial Services & Supplies
₹334per 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₹334implied FY26 P/E 14.5× · EV/EBITDA 9.0×
Against CMP ₹426.00−21.5%close of 2026-09-10
Growth the CMP implies43.6%revenue, a year for 5 years, on your other inputs
Value after FY31103%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
₹212₹580
52-week rangetraded range, a fact not a value
₹224₹528
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | (98) |
| PV of terminal value | 3,630 |
| Enterprise value | 3,532 |
| less net debt | (637) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,895 |
| ÷ 8.66 crore shares | ₹334 |
103% of the value sits after FY31. Usual when return on capital sits near the cost of capital; the 5 explicit years carry little of it.
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% | 350 | 392 | 442 | 504 | 580 |
| 10.50% | 308 | 342 | 383 | 433 | 493 |
| 11.00% | 271 | 300 | 334 | 375 | 423 |
| 11.50% | 240 | 264 | 293 | 327 | 366 |
| 12.00% | 212 | 234 | 258 | 286 | 319 |
The outlined cell is your model. Green figures sit above the CMP of ₹426.00; 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 | 163 · 324 · 518 |
| Draws below the CMP | 75% |
| Rank correlation with ebitda margin | +0.88 |
| Rank correlation with discount rate | −0.33 |
| Rank correlation with revenue growth | +0.25 |
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 | FY22 | FY23 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 335 | 456 | 782 | 1,070 | 1,392 | 1,809 | 2,352 | 3,057 | 3,974 |
| growth % | — | 35.9 | 71.6 | 36.9 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 138 | 257 | 330 | 392 | 509 | 662 | 861 | 1,119 | 1,455 |
| margin % | 41.1 | 56.4 | 42.2 | 36.6 | 36.6 | 36.6 | 36.6 | 36.6 | 36.6 |
| less depreciation | (118) | (121) | (129) | (132) | (171) | (223) | (289) | (376) | (489) |
| EBIT | 20 | 136 | 202 | 260 | 338 | 440 | 571 | 743 | 966 |
| less tax on EBIT | (71) | (92) | (119) | (155) | (201) | (262) | |||
| NOPAT | 190 | 247 | 320 | 417 | 542 | 704 | |||
| add depreciation | 118 | 121 | 129 | 132 | 171 | 223 | 289 | 376 | 489 |
| less capex | (58) | (232) | (237) | (408) | (530) | (584) | (622) | (630) | (587) |
| less working-capital build | — | (90) | (117) | (152) | (198) | (257) | |||
| Free cash flow to firm | 72 | 25 | (75) | — | (202) | (158) | (68) | 90 | 349 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (192) | (135) | (52) | 63 | 219 |
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 674, dividends at 9.4% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 260 | 338 | 440 | 571 | 743 | 966 |
| Interest at 6.6% on debt | (44) | (44) | (44) | (44) | (44) | |
| Profit before tax | 294 | 395 | 527 | 698 | 921 | |
| Profit after tax | 184 | 214 | 288 | 384 | 509 | 672 |
| Dividends | (17) | (20) | (27) | (36) | (48) | (63) |
| Balance sheet, year end | ||||||
| Cash | 37 | (218) | (436) | (572) | (562) | (308) |
| Working capital | 300 | 390 | 507 | 659 | 856 | 1,113 |
| Net block and other assets | 2,007 | 2,366 | 2,727 | 3,059 | 3,313 | 3,411 |
| Debt | 674 | 674 | 674 | 674 | 674 | 674 |
| Equity | 1,310 | 1,504 | 1,765 | 2,113 | 2,575 | 3,183 |
| Balance check | 0 | (0) | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 295 | 394 | 522 | 688 | 904 | |
| Investing (capex) | (530) | (584) | (622) | (630) | (587) | |
| Financing (dividends) | (20) | (27) | (36) | (48) | (63) | |
| Net change in cash | (255) | (217) | (136) | 10 | 254 | |
| Free cash flow to equity | (235) | (190) | (100) | 58 | 317 | |
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 | 30% | 36.6% | 11.00% | 5% | ₹334 | (21.5)% |
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.