Models
SOLEX ENERGY LIMITEDSOLEXElectrical Equipment
₹2,326per 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₹2,326implied FY26 P/E 24.2× · EV/EBITDA 14.7×
Against CMP ₹704.50+230.1%close of 2026-09-10
Growth the CMP implies(9.3)%revenue, a year for 5 years, on your other inputs
Value after FY31100%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
₹1,597₹3,790
52-week rangetraded range, a fact not a value
₹651₹1,985
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 10 |
| PV of terminal value | 2,695 |
| Enterprise value | 2,705 |
| less net debt | (193) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,512 |
| ÷ 1.08 crore shares | ₹2,326 |
100% 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% | 2,422 | 2,671 | 2,969 | 3,334 | 3,790 |
| 10.50% | 2,167 | 2,373 | 2,618 | 2,911 | 3,269 |
| 11.00% | 1,949 | 2,123 | 2,326 | 2,565 | 2,853 |
| 11.50% | 1,761 | 1,909 | 2,079 | 2,279 | 2,514 |
| 12.00% | 1,597 | 1,724 | 1,869 | 2,037 | 2,233 |
The outlined cell is your model. Green figures sit above the CMP of ₹704.50; 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 | 1,575 · 2,269 · 3,190 |
| Draws below the CMP | 0% |
| Rank correlation with ebitda margin | +0.73 |
| Rank correlation with discount rate | −0.46 |
| Rank correlation with revenue growth | +0.43 |
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 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|
| Revenue | 662 | 1,618 | 2,103 | 2,735 | 3,555 | 4,621 | 6,008 |
| growth % | — | 144.3 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | — | 184 | 240 | 312 | 405 | 527 | 685 |
| margin % | — | 11.4 | 11.4 | 11.4 | 11.4 | 11.4 | 11.4 |
| less depreciation | — | (25) | (34) | (44) | (57) | (74) | (96) |
| EBIT | — | 159 | 206 | 268 | 348 | 453 | 589 |
| less tax on EBIT | (40) | (52) | (67) | (87) | (114) | (148) | |
| NOPAT | 119 | 154 | 201 | 261 | 339 | 441 | |
| add depreciation | — | 25 | 34 | 44 | 57 | 74 | 96 |
| less capex | (67) | (194) | (252) | (259) | (247) | (205) | (115) |
| less working-capital build | — | (57) | (74) | (96) | (125) | (162) | |
| Free cash flow to firm | (114) | — | (121) | (89) | (26) | 83 | 260 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | (115) | (76) | (20) | 58 | 162 |
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 269, dividends at 0.6% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 159 | 206 | 268 | 348 | 453 | 589 |
| Interest at 11.5% on debt | (31) | (31) | (31) | (31) | (31) | |
| Profit before tax | 175 | 237 | 317 | 422 | 558 | |
| Profit after tax | 96 | 131 | 178 | 238 | 316 | 418 |
| Dividends | (1) | (1) | (1) | (1) | (2) | (3) |
| Balance sheet, year end | ||||||
| Cash | 76 | (69) | (182) | (232) | (174) | 60 |
| Working capital | 189 | 246 | 319 | 415 | 540 | 702 |
| Net block and other assets | 916 | 1,135 | 1,350 | 1,541 | 1,672 | 1,691 |
| Debt | 269 | 269 | 269 | 269 | 269 | 269 |
| Equity | 256 | 387 | 563 | 799 | 1,113 | 1,529 |
| Balance check | 0 | 0 | (0) | 0 | (0) | (0) |
| Cash flow | ||||||
| From operations | 108 | 147 | 199 | 265 | 352 | |
| Investing (capex) | (252) | (259) | (247) | (205) | (115) | |
| Financing (dividends) | (1) | (1) | (1) | (2) | (3) | |
| Net change in cash | (145) | (113) | (50) | 58 | 234 | |
| Free cash flow to equity | (144) | (112) | (49) | 60 | 236 | |
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% | 11.4% | 11.00% | 5% | ₹2,326 | 230.1% |
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.