Models
SK Minerals & Additives LimiteBSE 544584Chemicals & Petrochemicals
₹127per 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₹127implied FY26 P/E —× · EV/EBITDA 7.9×
Against CMP ₹486.00−74.0%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3189%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
₹72₹235
52-week rangetraded range, a fact not a value
₹102₹502
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 27 |
| PV of terminal value | 226 |
| Enterprise value | 253 |
| less net debt | (98) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 155 |
| ÷ 1.22 crore shares | ₹127 |
89% 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% | 134 | 152 | 175 | 201 | 235 |
| 10.50% | 115 | 130 | 148 | 170 | 196 |
| 11.00% | 99 | 112 | 127 | 144 | 166 |
| 11.50% | 85 | 96 | 108 | 123 | 140 |
| 12.00% | 72 | 82 | 92 | 105 | 119 |
The outlined cell is your model. Green figures sit above the CMP of ₹486.00; 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 | 83 · 125 · 173 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.75 |
| Rank correlation with discount rate | −0.61 |
| Rank correlation with revenue growth | −0.08 |
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 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Revenue | 318 | 343 | 371 | 400 | 432 | 467 |
| growth % | — | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 |
| EBITDA | 32 | 35 | 37 | 40 | 44 | 47 |
| margin % | 10.1 | 10.1 | 10.1 | 10.1 | 10.1 | 10.1 |
| less depreciation | (1) | (1) | (1) | (1) | (1) | (1) |
| EBIT | 31 | 34 | 36 | 39 | 42 | 46 |
| less tax on EBIT | (10) | (11) | (12) | (13) | (14) | (15) |
| NOPAT | 21 | 22 | 24 | 26 | 28 | 31 |
| add depreciation | 1 | 1 | 1 | 1 | 1 | 1 |
| less capex | (19) | (21) | (17) | (13) | (8) | (2) |
| less working-capital build | — | (6) | (7) | (7) | (8) | (9) |
| Free cash flow to firm | — | (3) | 2 | 7 | 14 | 22 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |
| Present value | (3) | 1 | 6 | 10 | 14 |
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 100, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 31 | 34 | 36 | 39 | 42 | 46 |
| Interest at 5.4% on debt | (5) | (5) | (5) | (5) | (5) | |
| Profit before tax | 28 | 31 | 34 | 37 | 40 | |
| Profit after tax | 18 | 19 | 21 | 23 | 25 | 27 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 2 | (5) | (7) | (3) | 7 | 25 |
| Working capital | 78 | 84 | 91 | 98 | 106 | 115 |
| Net block and other assets | 106 | 126 | 142 | 153 | 160 | 160 |
| Debt | 100 | 100 | 100 | 100 | 100 | 100 |
| Equity | 81 | 99 | 120 | 143 | 167 | 194 |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 14 | 15 | 16 | 18 | 20 | |
| Investing (capex) | (21) | (17) | (13) | (8) | (2) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (7) | (2) | 4 | 10 | 18 | |
| Free cash flow to equity | (7) | (2) | 4 | 10 | 18 | |
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 | 8% | 10.1% | 11.00% | 5% | ₹127 | (74.0)% |
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.