Models
SERVOTECH REN POW SYS LTDSERVOTECHElectrical Equipment
₹4per 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₹4implied FY26 P/E 2.7× · EV/EBITDA 4.6×
Against CMP ₹77.45−94.3%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY31114%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
₹(0)₹13
52-week rangetraded range, a fact not a value
₹58₹143
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | (42) |
| PV of terminal value | 349 |
| Enterprise value | 307 |
| less net debt | (207) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 100 |
| ÷ 22.58 crore shares | ₹4 |
114% 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% | 5 | 7 | 8 | 11 | 13 |
| 10.50% | 3 | 5 | 6 | 8 | 10 |
| 11.00% | 2 | 3 | 4 | 6 | 8 |
| 11.50% | 1 | 2 | 3 | 4 | 6 |
| 12.00% | (0) | 1 | 2 | 3 | 4 |
The outlined cell is your model. Green figures sit above the CMP of ₹77.45; 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 · 4 · 9 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.78 |
| Rank correlation with discount rate | −0.60 |
| Rank correlation with revenue growth | −0.02 |
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 | 270 | 354 | 674 | 672 | 668 | 665 | 662 | 658 | 655 |
| growth % | 87.6 | 31.2 | 90.7 | (0.4) | (0.5) | (0.5) | (0.5) | (0.5) | (0.5) |
| EBITDA | 10 | 21 | 56 | 67 | 67 | 66 | 66 | 66 | 66 |
| margin % | 3.7 | 5.9 | 8.2 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 |
| less depreciation | (2) | (3) | (6) | (18) | (18) | (18) | (18) | (18) | (18) |
| EBIT | 8 | 18 | 50 | 49 | 49 | 49 | 48 | 48 | 48 |
| less tax on EBIT | (12) | (12) | (12) | (11) | (11) | (11) | |||
| NOPAT | 37 | 37 | 37 | 37 | 37 | 36 | |||
| add depreciation | 2 | 3 | 6 | 18 | 18 | 18 | 18 | 18 | 18 |
| less capex | 0 | (26) | (18) | (103) | (103) | (82) | (62) | (41) | (21) |
| less working-capital build | — | 1 | 1 | 1 | 1 | 1 | |||
| Free cash flow to firm | (24) | (25) | (74) | — | (47) | (27) | (6) | 14 | 34 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (45) | (23) | (5) | 10 | 21 |
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 209, dividends at 3.4% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 49 | 49 | 49 | 48 | 48 | 48 |
| Interest at 8.5% on debt | (18) | (18) | (18) | (18) | (18) | |
| Profit before tax | 31 | 31 | 31 | 30 | 30 | |
| Profit after tax | 34 | 24 | 23 | 23 | 23 | 23 |
| Dividends | (1) | (1) | (1) | (1) | (1) | (1) |
| Balance sheet, year end | ||||||
| Cash | 2 | (59) | (100) | (120) | (121) | (102) |
| Working capital | 137 | 136 | 136 | 135 | 134 | 134 |
| Net block and other assets | 545 | 630 | 695 | 738 | 762 | 765 |
| Debt | 209 | 209 | 209 | 209 | 209 | 209 |
| Equity | 296 | 319 | 341 | 364 | 386 | 408 |
| Balance check | 0 | (0) | (0) | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 42 | 42 | 42 | 42 | 41 | |
| Investing (capex) | (103) | (82) | (62) | (41) | (21) | |
| Financing (dividends) | (1) | (1) | (1) | (1) | (1) | |
| Net change in cash | (61) | (41) | (21) | (1) | 19 | |
| Free cash flow to equity | (61) | (40) | (20) | 0 | 20 | |
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 | -0.5% | 10% | 11.00% | 5% | ₹4 | (94.3)% |
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.