₹-20per share · Base Model Note
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₹(20)implied P/B (0.31)× on FY26 book
Against CMP ₹35.10−157.5%close of 28 Oct 2026
Cost of equity12.90%risk-free + beta × equity risk premium
Book equity, FY26₹65per share · excess returns add ₹(85)
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Excess-return schedule · ₹ crore · book equity earns your ROE; value is book plus the returns above the cost of equity
| ₹ crore | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|
| Opening book equity | 3,005 | 3,008 | 3,012 | 3,015 | 3,019 |
| Net income at 1% ROE | 30 | 30 | 30 | 30 | 30 |
| Cost of equity charge at 12.90% | (388) | (388) | (389) | (389) | (389) |
| Excess return | (358) | (358) | (358) | (359) | (359) |
| Present value | (337) | (298) | (265) | (235) | (208) |
| Closing book equity | 3,008 | 3,012 | 3,015 | 3,019 | 3,022 |
| Book equity today | 3,005 |
| PV of 5 years of excess return | (1,342) |
| PV of the terminal excess return, 5% flat | (2,602) |
| add non-operating investments | 0 |
| Equity value | (940) |
| ÷ 46.58 crore shares | ₹(20) |
ROE is at or below the cost of equity, so every year destroys value against book and the model lands below book value. That is the arithmetic, not a view.
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹34₹55
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 1% | — | 12.90% | 5% | ₹(20) | (157.5)% |
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.