Models
SIKA INTERPLANT SYSTEMS LSIKAAerospace & Defense
₹706per 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₹706implied FY26 P/E 40.8× · EV/EBITDA 33.1×
Against CMP ₹1,084.00−34.9%close of 2026-09-10
Growth the CMP implies42.8%revenue, a year for 5 years, on your other inputs
Value after FY3181%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
₹536₹1,044
52-week rangetraded range, a fact not a value
₹870₹1,359
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 277 |
| PV of terminal value | 1,216 |
| Enterprise value | 1,493 |
| less net debt | 3 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,496 |
| ÷ 2.12 crore shares | ₹706 |
81% 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% | 730 | 787 | 856 | 939 | 1,044 |
| 10.50% | 670 | 718 | 774 | 841 | 923 |
| 11.00% | 619 | 659 | 706 | 761 | 827 |
| 11.50% | 575 | 609 | 648 | 694 | 748 |
| 12.00% | 536 | 565 | 599 | 637 | 682 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,084.00; 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 | 514 · 701 · 948 |
| Draws below the CMP | 97% |
| Rank correlation with revenue growth | +0.83 |
| Rank correlation with discount rate | −0.41 |
| Rank correlation with ebitda margin | +0.31 |
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 | 60 | 106 | 148 | 211 | 275 | 357 | 464 | 603 | 784 |
| growth % | (39.0) | 76.7 | 39.3 | 43.0 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 10 | 21 | 28 | 45 | 59 | 76 | 99 | 129 | 168 |
| margin % | 17.0 | 19.9 | 19.2 | 21.4 | 21.4 | 21.4 | 21.4 | 21.4 | 21.4 |
| less depreciation | (1) | (1) | (1) | (1) | (1) | (2) | (2) | (3) | (4) |
| EBIT | 9 | 20 | 27 | 44 | 57 | 75 | 97 | 126 | 164 |
| less tax on EBIT | (11) | (14) | (19) | (24) | (32) | (41) | |||
| NOPAT | 33 | 43 | 56 | 73 | 94 | 123 | |||
| add depreciation | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 4 |
| less capex | (1) | (8) | (4) | (0) | (1) | (1) | (2) | (3) | (5) |
| less working-capital build | — | (2) | (2) | (3) | (4) | (5) | |||
| Free cash flow to firm | (1) | 12 | 5 | — | 42 | 54 | 70 | 91 | 117 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 40 | 46 | 54 | 63 | 73 |
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 0, dividends at 14% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 44 | 57 | 75 | 97 | 126 | 164 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 57 | 75 | 97 | 126 | 164 | |
| Profit after tax | 36 | 43 | 56 | 73 | 94 | 123 |
| Dividends | (5) | (6) | (8) | (10) | (13) | (17) |
| Balance sheet, year end | ||||||
| Cash | 3 | 39 | 85 | 145 | 223 | 323 |
| Working capital | 6 | 7 | 9 | 12 | 16 | 20 |
| Net block and other assets | 167 | 166 | 165 | 165 | 165 | 166 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 156 | 192 | 240 | 303 | 384 | 489 |
| Balance check | 0 | 0 | 0 | 0 | (0) | (0) |
| Cash flow | ||||||
| From operations | 43 | 55 | 72 | 94 | 122 | |
| Investing (capex) | (1) | (1) | (2) | (3) | (5) | |
| Financing (dividends) | (6) | (8) | (10) | (13) | (17) | |
| Net change in cash | 36 | 47 | 60 | 77 | 100 | |
| Free cash flow to equity | 42 | 54 | 70 | 91 | 117 | |
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% | 21.4% | 11.00% | 5% | ₹706 | (34.9)% |
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.