Models
STRIDES PHARMA SCI LTDSTARPharmaceuticals & Biotechnology
₹730per 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₹730implied FY26 P/E 11.0× · EV/EBITDA 9.1×
Against CMP ₹1,180.00−38.1%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3179%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
₹521₹1,148
52-week rangetraded range, a fact not a value
₹769₹1,231
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,701 |
| PV of terminal value | 6,511 |
| Enterprise value | 8,212 |
| less net debt | (1,480) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 6,732 |
| ÷ 9.22 crore shares | ₹730 |
79% 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% | 760 | 831 | 915 | 1,019 | 1,148 |
| 10.50% | 687 | 745 | 814 | 897 | 999 |
| 11.00% | 624 | 673 | 730 | 798 | 880 |
| 11.50% | 569 | 611 | 659 | 716 | 782 |
| 12.00% | 521 | 557 | 599 | 646 | 701 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,180.00; 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 | 545 · 722 · 934 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.80 |
| Rank correlation with discount rate | −0.55 |
| Rank correlation with revenue growth | +0.06 |
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 | 3,688 | 4,051 | 4,565 | 4,859 | 5,174 | 5,511 | 5,869 | 6,251 | 6,657 |
| growth % | 20.1 | 9.8 | 12.7 | 6.4 | 6.5 | 6.5 | 6.5 | 6.5 | 6.5 |
| EBITDA | 413 | 554 | 867 | 898 | 957 | 1,020 | 1,086 | 1,156 | 1,232 |
| margin % | 11.2 | 13.7 | 19.0 | 18.5 | 18.5 | 18.5 | 18.5 | 18.5 | 18.5 |
| less depreciation | (243) | (221) | (192) | (202) | (217) | (231) | (246) | (263) | (280) |
| EBIT | 170 | 334 | 675 | 696 | 740 | 788 | 839 | 894 | 952 |
| less tax on EBIT | (98) | (104) | (111) | (118) | (126) | (134) | |||
| NOPAT | 598 | 636 | 677 | 721 | 768 | 818 | |||
| add depreciation | 243 | 221 | 192 | 202 | 217 | 231 | 246 | 263 | 280 |
| less capex | (95) | (118) | (242) | (423) | (450) | (429) | (403) | (372) | (336) |
| less working-capital build | — | (105) | (112) | (119) | (127) | (135) | |||
| Free cash flow to firm | (51) | 583 | 442 | — | 298 | 368 | 445 | 531 | 627 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 283 | 314 | 343 | 369 | 392 |
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 1,669, dividends at 6.6% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 696 | 740 | 788 | 839 | 894 | 952 |
| Interest at 10.3% on debt | (172) | (172) | (172) | (172) | (172) | |
| Profit before tax | 568 | 616 | 667 | 722 | 780 | |
| Profit after tax | 556 | 488 | 529 | 573 | 620 | 670 |
| Dividends | (37) | (32) | (35) | (38) | (41) | (44) |
| Balance sheet, year end | ||||||
| Cash | 189 | 307 | 492 | 752 | 1,095 | 1,530 |
| Working capital | 1,615 | 1,720 | 1,831 | 1,950 | 2,077 | 2,212 |
| Net block and other assets | 5,124 | 5,357 | 5,554 | 5,711 | 5,821 | 5,877 |
| Debt | 1,669 | 1,669 | 1,669 | 1,669 | 1,669 | 1,669 |
| Equity | 3,149 | 3,605 | 4,099 | 4,635 | 5,214 | 5,840 |
| Balance check | 0 | (0) | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 600 | 649 | 701 | 756 | 815 | |
| Investing (capex) | (450) | (429) | (403) | (372) | (336) | |
| Financing (dividends) | (32) | (35) | (38) | (41) | (44) | |
| Net change in cash | 118 | 185 | 260 | 343 | 435 | |
| Free cash flow to equity | 150 | 220 | 298 | 384 | 479 | |
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 | 6.5% | 18.5% | 11.00% | 5% | ₹730 | (38.1)% |
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.