Models
STUDDS ACCESSORIES LTDSTUDDSAuto Components
₹340per 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₹340implied FY26 P/E 17.9× · EV/EBITDA 10.4×
Against CMP ₹422.80−19.7%close of 2026-09-10
Growth the CMP implies15.0%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
₹264₹491
52-week rangetraded range, a fact not a value
₹410₹600
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 265 |
| PV of terminal value | 1,005 |
| Enterprise value | 1,270 |
| less net debt | 67 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,337 |
| ÷ 3.94 crore shares | ₹340 |
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% | 351 | 376 | 407 | 444 | 491 |
| 10.50% | 324 | 345 | 370 | 400 | 437 |
| 11.00% | 301 | 319 | 340 | 364 | 394 |
| 11.50% | 281 | 297 | 314 | 334 | 359 |
| 12.00% | 264 | 277 | 292 | 309 | 329 |
The outlined cell is your model. Green figures sit above the CMP of ₹422.80; 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 | 279 · 337 · 408 |
| Draws below the CMP | 93% |
| Rank correlation with ebitda margin | +0.69 |
| Rank correlation with discount rate | −0.61 |
| Rank correlation with revenue growth | +0.30 |
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 | 634 | 685 | 740 | 799 | 863 | 932 |
| growth % | — | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 |
| EBITDA | 122 | 132 | 143 | 154 | 167 | 180 |
| margin % | 19.3 | 19.3 | 19.3 | 19.3 | 19.3 | 19.3 |
| less depreciation | (21) | (23) | (24) | (26) | (28) | (31) |
| EBIT | 101 | 110 | 118 | 128 | 138 | 149 |
| less tax on EBIT | (26) | (28) | (31) | (33) | (36) | (39) |
| NOPAT | 75 | 81 | 88 | 95 | 102 | 110 |
| add depreciation | 21 | 23 | 24 | 26 | 28 | 31 |
| less capex | (47) | (51) | (48) | (45) | (42) | (37) |
| less working-capital build | — | (5) | (6) | (6) | (7) | (7) |
| Free cash flow to firm | — | 48 | 58 | 69 | 82 | 97 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |
| Present value | 45 | 49 | 53 | 57 | 60 |
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 4, dividends at 11.9% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 101 | 110 | 118 | 128 | 138 | 149 |
| Interest at 8% on debt | (0) | (0) | (0) | (0) | (0) | |
| Profit before tax | 109 | 118 | 128 | 138 | 149 | |
| Profit after tax | 83 | 81 | 87 | 94 | 102 | 110 |
| Dividends | (10) | (10) | (10) | (11) | (12) | (13) |
| Balance sheet, year end | ||||||
| Cash | 70 | 108 | 155 | 213 | 283 | 366 |
| Working capital | 68 | 74 | 80 | 86 | 93 | 101 |
| Net block and other assets | 499 | 527 | 551 | 570 | 583 | 589 |
| Debt | 4 | 4 | 4 | 4 | 4 | 4 |
| Equity | 523 | 594 | 671 | 754 | 844 | 941 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 98 | 106 | 114 | 124 | 133 | |
| Investing (capex) | (51) | (48) | (45) | (42) | (37) | |
| Financing (dividends) | (10) | (10) | (11) | (12) | (13) | |
| Net change in cash | 38 | 47 | 58 | 70 | 83 | |
| Free cash flow to equity | 47 | 57 | 69 | 82 | 97 | |
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% | 19.3% | 11.00% | 5% | ₹340 | (19.7)% |
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.