Models
SIGNPOST INDIA LIMITEDSIGNPOSTMedia
₹233per 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₹233implied FY26 P/E 16.9× · EV/EBITDA 9.7×
Against CMP ₹279.00−16.5%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3183%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
₹168₹363
52-week rangetraded range, a fact not a value
₹191₹337
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 249 |
| PV of terminal value | 1,173 |
| Enterprise value | 1,422 |
| less net debt | (176) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,246 |
| ÷ 5.35 crore shares | ₹233 |
83% 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% | 242 | 264 | 290 | 322 | 363 |
| 10.50% | 219 | 238 | 259 | 285 | 316 |
| 11.00% | 200 | 215 | 233 | 254 | 279 |
| 11.50% | 183 | 196 | 211 | 229 | 249 |
| 12.00% | 168 | 179 | 192 | 207 | 224 |
The outlined cell is your model. Green figures sit above the CMP of ₹279.00; 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 | 137 · 227 · 328 |
| Draws below the CMP | 75% |
| Rank correlation with ebitda margin | +0.91 |
| Rank correlation with discount rate | −0.33 |
| Rank correlation with revenue growth | +0.07 |
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 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 387 | 453 | 576 | 731 | 929 | 1,180 | 1,498 | 1,903 |
| growth % | — | 17.0 | 27.1 | 27.0 | 27.0 | 27.0 | 27.0 | 27.0 |
| EBITDA | 83 | 89 | 147 | 187 | 237 | 301 | 382 | 485 |
| margin % | 21.4 | 19.6 | 25.5 | 25.5 | 25.5 | 25.5 | 25.5 | 25.5 |
| less depreciation | (17) | (38) | (40) | (51) | (65) | (83) | (105) | (133) |
| EBIT | 66 | 51 | 106 | 135 | 172 | 218 | 277 | 352 |
| less tax on EBIT | (28) | (35) | (45) | (57) | (72) | (92) | ||
| NOPAT | 78 | 100 | 127 | 161 | 205 | 260 | ||
| add depreciation | 17 | 38 | 40 | 51 | 65 | 83 | 105 | 133 |
| less capex | (0) | (63) | (56) | (71) | (87) | (107) | (131) | (160) |
| less working-capital build | — | (46) | (59) | (75) | (95) | (121) | ||
| Free cash flow to firm | 64 | (32) | — | 34 | 46 | 62 | 84 | 113 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 32 | 39 | 48 | 58 | 71 |
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 196, dividends at 3.8% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 106 | 135 | 172 | 218 | 277 | 352 |
| Interest at 8.9% on debt | (17) | (17) | (17) | (17) | (17) | |
| Profit before tax | 118 | 154 | 201 | 260 | 335 | |
| Profit after tax | 70 | 87 | 114 | 148 | 192 | 247 |
| Dividends | (3) | (3) | (4) | (6) | (7) | (9) |
| Balance sheet, year end | ||||||
| Cash | 20 | 38 | 67 | 110 | 174 | 265 |
| Working capital | 172 | 218 | 277 | 351 | 446 | 567 |
| Net block and other assets | 496 | 516 | 538 | 562 | 588 | 615 |
| Debt | 196 | 196 | 196 | 196 | 196 | 196 |
| Equity | 291 | 375 | 485 | 627 | 812 | 1,050 |
| Balance check | 0 | 0 | 0 | 0 | (0) | 0 |
| Cash flow | ||||||
| From operations | 92 | 120 | 156 | 202 | 260 | |
| Investing (capex) | (71) | (87) | (107) | (131) | (160) | |
| Financing (dividends) | (3) | (4) | (6) | (7) | (9) | |
| Net change in cash | 18 | 29 | 44 | 64 | 91 | |
| Free cash flow to equity | 21 | 33 | 49 | 71 | 100 | |
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 | 27% | 25.5% | 11.00% | 5% | ₹233 | (16.5)% |
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.