Models
SEAMEC LIMITEDSEAMECLTDTransport Services
₹1,966per 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₹1,966implied FY26 P/E 19.5× · EV/EBITDA 13.1×
Against CMP ₹1,796.00+9.5%close of 2026-09-10
Growth the CMP implies26.2%revenue, a year for 5 years, on your other inputs
Value after FY3192%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
₹1,406₹3,089
52-week rangetraded range, a fact not a value
₹772₹1,829
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 395 |
| PV of terminal value | 4,856 |
| Enterprise value | 5,251 |
| less net debt | (251) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 5,000 |
| ÷ 2.54 crore shares | ₹1,966 |
92% 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% | 2,042 | 2,233 | 2,461 | 2,740 | 3,089 |
| 10.50% | 1,846 | 2,004 | 2,191 | 2,415 | 2,689 |
| 11.00% | 1,678 | 1,811 | 1,966 | 2,150 | 2,370 |
| 11.50% | 1,533 | 1,646 | 1,777 | 1,929 | 2,110 |
| 12.00% | 1,406 | 1,504 | 1,615 | 1,743 | 1,893 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,796.00; 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 | 1,183 · 1,910 · 2,841 |
| Draws below the CMP | 43% |
| Rank correlation with ebitda margin | +0.84 |
| Rank correlation with revenue growth | +0.36 |
| Rank correlation with discount rate | −0.33 |
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 | 437 | 729 | 652 | 952 | 1,238 | 1,610 | 2,093 | 2,720 | 3,536 |
| growth % | 25.1 | 66.8 | (10.6) | 46.1 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 126 | 242 | 223 | 400 | 520 | 676 | 879 | 1,143 | 1,485 |
| margin % | 28.9 | 33.2 | 34.1 | 42.0 | 42.0 | 42.0 | 42.0 | 42.0 | 42.0 |
| less depreciation | (112) | (135) | (131) | (157) | (204) | (266) | (345) | (449) | (584) |
| EBIT | 14 | 107 | 92 | 243 | 316 | 410 | 534 | 694 | 902 |
| less tax on EBIT | (14) | (18) | (24) | (31) | (40) | (52) | |||
| NOPAT | 228 | 297 | 387 | 503 | 653 | 849 | |||
| add depreciation | 112 | 135 | 131 | 157 | 204 | 266 | 345 | 449 | 584 |
| less capex | (292) | (322) | (54) | (379) | (493) | (560) | (624) | (675) | (700) |
| less working-capital build | — | (93) | (121) | (157) | (204) | (265) | |||
| Free cash flow to firm | (239) | (172) | 245 | — | (84) | (29) | 67 | 224 | 468 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (80) | (24) | 52 | 155 | 292 |
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 328, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 243 | 316 | 410 | 534 | 694 | 902 |
| Interest at 7.7% on debt | (25) | (25) | (25) | (25) | (25) | |
| Profit before tax | 290 | 385 | 508 | 668 | 876 | |
| Profit after tax | 251 | 274 | 363 | 479 | 630 | 826 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 77 | (31) | (83) | (39) | 160 | 604 |
| Working capital | 310 | 403 | 523 | 680 | 884 | 1,150 |
| Net block and other assets | 1,474 | 1,762 | 2,057 | 2,335 | 2,561 | 2,678 |
| Debt | 328 | 328 | 328 | 328 | 328 | 328 |
| Equity | 1,304 | 1,577 | 1,940 | 2,419 | 3,049 | 3,874 |
| Balance check | 0 | 0 | (0) | 0 | (0) | 0 |
| Cash flow | ||||||
| From operations | 385 | 508 | 667 | 874 | 1,144 | |
| Investing (capex) | (493) | (560) | (624) | (675) | (700) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (108) | (52) | 44 | 200 | 444 | |
| Free cash flow to equity | (108) | (52) | 44 | 200 | 444 | |
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% | 42% | 11.00% | 5% | ₹1,966 | 9.5% |
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.