Models
SURAKSHA DIAGNOSTIC LTDSURAKSHAHealthcare Services
₹183per 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₹183implied FY26 P/E 26.6× · EV/EBITDA 10.0×
Against CMP ₹325.00−43.6%close of 2026-09-10
Growth the CMP implies39.6%revenue, a year for 5 years, on your other inputs
Value after FY3185%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
₹137₹275
52-week rangetraded range, a fact not a value
₹224₹349
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 144 |
| PV of terminal value | 809 |
| Enterprise value | 953 |
| less net debt | 1 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 954 |
| ÷ 5.21 crore shares | ₹183 |
85% 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% | 190 | 205 | 224 | 246 | 275 |
| 10.50% | 174 | 186 | 202 | 220 | 242 |
| 11.00% | 160 | 171 | 183 | 198 | 216 |
| 11.50% | 148 | 157 | 168 | 180 | 195 |
| 12.00% | 137 | 145 | 154 | 165 | 177 |
The outlined cell is your model. Green figures sit above the CMP of ₹325.00; 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 | 125 · 180 · 254 |
| Draws below the CMP | 99% |
| Rank correlation with ebitda margin | +0.71 |
| Rank correlation with revenue growth | +0.55 |
| Rank correlation with discount rate | −0.36 |
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 | 252 | 310 | 382 | 470 | 578 | 710 | 874 |
| growth % | — | 23.1 | 23.0 | 23.0 | 23.0 | 23.0 | 23.0 |
| EBITDA | 81 | 95 | 117 | 144 | 177 | 218 | 268 |
| margin % | 32.2 | 30.7 | 30.7 | 30.7 | 30.7 | 30.7 | 30.7 |
| less depreciation | (35) | (41) | (51) | (63) | (77) | (95) | (117) |
| EBIT | 46 | 54 | 66 | 81 | 100 | 123 | 151 |
| less tax on EBIT | (16) | (19) | (24) | (29) | (36) | (45) | |
| NOPAT | 38 | 47 | 57 | 70 | 87 | 107 | |
| add depreciation | 35 | 41 | 51 | 63 | 77 | 95 | 117 |
| less capex | (42) | (67) | (83) | (95) | (109) | (124) | (141) |
| less working-capital build | — | (2) | (3) | (3) | (4) | (5) | |
| Free cash flow to firm | 21 | — | 13 | 22 | 35 | 53 | 78 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | 12 | 19 | 27 | 37 | 49 |
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 2, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 54 | 66 | 81 | 100 | 123 | 151 |
| Interest at 8% on debt | (0) | (0) | (0) | (0) | (0) | |
| Profit before tax | 66 | 81 | 100 | 123 | 151 | |
| Profit after tax | 32 | 46 | 57 | 70 | 87 | 106 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 3 | 16 | 38 | 73 | 126 | 204 |
| Working capital | 10 | 12 | 15 | 19 | 23 | 28 |
| Net block and other assets | 435 | 467 | 499 | 531 | 560 | 583 |
| Debt | 2 | 2 | 2 | 2 | 2 | 2 |
| Equity | 243 | 290 | 347 | 417 | 504 | 611 |
| Balance check | 0 | 0 | 0 | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 95 | 117 | 144 | 178 | 218 | |
| Investing (capex) | (83) | (95) | (109) | (124) | (141) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 12 | 22 | 35 | 53 | 78 | |
| Free cash flow to equity | 12 | 22 | 35 | 53 | 78 | |
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 | 23% | 30.7% | 11.00% | 5% | ₹183 | (43.6)% |
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.