Models
SUMMIT SECURITIES LTDSUMMITSECFinance
₹-1,827per 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₹(1,827)implied P/B (0.23)× on FY26 book
Against CMP ₹1,405.20−230.0%close of 2026-09-10
Cost of equity16.26%risk-free + beta × equity risk premium
Book equity, FY26₹7,847per share · excess returns add ₹(9,674)
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Excess-return schedule · ₹ crore · book equity earns your ROE; value is book plus the returns above the cost of equity
| ₹ crore | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|
| Opening book equity | 8,555 | 8,658 | 8,762 | 8,867 | 8,973 |
| Net income at 1.2% ROE | 103 | 104 | 105 | 106 | 108 |
| Cost of equity charge at 16.26% | (1,391) | (1,408) | (1,425) | (1,442) | (1,459) |
| Excess return | (1,289) | (1,304) | (1,320) | (1,336) | (1,352) |
| Present value | (1,195) | (1,040) | (906) | (788) | (686) |
| Closing book equity | 8,658 | 8,762 | 8,867 | 8,973 | 9,081 |
| Book equity today | 8,555 |
| PV of 5 years of excess return | (4,615) |
| PV of the terminal excess return, 5% flat | (5,931) |
| add non-operating investments | 0 |
| Equity value | (1,992) |
| ÷ 1.09 crore shares | ₹(1,827) |
ROE is at or below the cost of equity, so every year destroys value against book and the model lands below book value. That is the arithmetic, not a view.
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹1,312₹2,495
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 1.2% | — | 16.26% | 5% | ₹(1,827) | (230.0)% |
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.