Models
STYRENIX PERFORMANCE LTDSTYRENIXChemicals & Petrochemicals
₹957per 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₹957implied FY26 P/E 6.2× · EV/EBITDA 5.6×
Against CMP ₹2,113.00−54.7%close of 2026-09-10
Growth the CMP implies45.0%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
₹696₹1,478
52-week rangetraded range, a fact not a value
₹1,780₹2,676
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 369 |
| PV of terminal value | 1,552 |
| Enterprise value | 1,922 |
| less net debt | (239) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,683 |
| ÷ 1.76 crore shares | ₹957 |
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% | 994 | 1,082 | 1,187 | 1,316 | 1,478 |
| 10.50% | 902 | 975 | 1,061 | 1,165 | 1,292 |
| 11.00% | 823 | 885 | 957 | 1,041 | 1,143 |
| 11.50% | 755 | 808 | 868 | 939 | 1,022 |
| 12.00% | 696 | 741 | 792 | 852 | 921 |
The outlined cell is your model. Green figures sit above the CMP of ₹2,113.00; 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 | 452 · 943 · 1,417 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.91 |
| Rank correlation with revenue growth | −0.28 |
| Rank correlation with discount rate | −0.26 |
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 | 2,982 | 3,438 | 3,971 | 4,586 | 5,297 | 6,118 | 7,067 |
| growth % | — | 15.3 | 15.5 | 15.5 | 15.5 | 15.5 | 15.5 |
| EBITDA | 351 | 340 | 393 | 454 | 524 | 606 | 700 |
| margin % | 11.8 | 9.9 | 9.9 | 9.9 | 9.9 | 9.9 | 9.9 |
| less depreciation | (53) | (114) | (131) | (151) | (175) | (202) | (233) |
| EBIT | 297 | 226 | 262 | 303 | 350 | 404 | 466 |
| less tax on EBIT | (41) | (47) | (55) | (63) | (73) | (84) | |
| NOPAT | 185 | 215 | 248 | 286 | 331 | 382 | |
| add depreciation | 53 | 114 | 131 | 151 | 175 | 202 | 233 |
| less capex | (436) | (157) | (183) | (204) | (227) | (252) | (280) |
| less working-capital build | — | (104) | (121) | (139) | (161) | (186) | |
| Free cash flow to firm | (382) | — | 59 | 75 | 95 | 120 | 149 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | 56 | 64 | 73 | 83 | 93 |
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 309, dividends at 51.7% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 226 | 262 | 303 | 350 | 404 | 466 |
| Interest at 7.6% on debt | (23) | (23) | (23) | (23) | (23) | |
| Profit before tax | 239 | 279 | 326 | 380 | 443 | |
| Profit after tax | 183 | 195 | 229 | 267 | 311 | 363 |
| Dividends | (94) | (101) | (118) | (138) | (161) | (188) |
| Balance sheet, year end | ||||||
| Cash | 70 | 8 | (54) | (116) | (177) | (234) |
| Working capital | 673 | 777 | 898 | 1,037 | 1,198 | 1,384 |
| Net block and other assets | 1,740 | 1,792 | 1,844 | 1,896 | 1,946 | 1,993 |
| Debt | 309 | 309 | 309 | 309 | 309 | 309 |
| Equity | 1,366 | 1,461 | 1,571 | 1,700 | 1,851 | 2,026 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 222 | 259 | 303 | 352 | 410 | |
| Investing (capex) | (183) | (204) | (227) | (252) | (280) | |
| Financing (dividends) | (101) | (118) | (138) | (161) | (188) | |
| Net change in cash | (62) | (62) | (62) | (61) | (57) | |
| Free cash flow to equity | 39 | 56 | 76 | 100 | 130 | |
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 | 15.5% | 9.9% | 11.00% | 5% | ₹957 | (54.7)% |
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.