₹120per 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₹120implied P/B 0.97× on FY26 book
Against CMP ₹303.00−60.5%close of 2026-09-10
Cost of equity8.08%risk-free + beta × equity risk premium
Book equity, FY26₹123per share · excess returns add ₹(3)
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 | 122 | 132 | 142 | 154 | 166 |
| Net income at 8% ROE | 10 | 11 | 11 | 12 | 13 |
| Cost of equity charge at 8.08% | (10) | (11) | (11) | (12) | (13) |
| Excess return | (0) | (0) | (0) | (0) | (0) |
| Present value | (0) | (0) | (0) | (0) | (0) |
| Closing book equity | 132 | 142 | 154 | 166 | 179 |
| Book equity today | 122 |
| PV of 5 years of excess return | (0) |
| PV of the terminal excess return, 5% flat | (3) |
| add non-operating investments | 0 |
| Equity value | 119 |
| ÷ 0.99 crore shares | ₹120 |
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
₹142₹300
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 8% | — | 8.08% | 5% | ₹120 | (60.5)% |
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.