Models
TANLA PLATFORMS LIMITEDTANLAIT - Software
₹779per 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₹779implied FY26 P/E 19.3× · EV/EBITDA 13.2×
Against CMP ₹504.00+54.5%close of 2026-09-10
Growth the CMP implies(3.8)%revenue, a year for 5 years, on your other inputs
Value after FY3174%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
₹621₹1,093
52-week rangetraded range, a fact not a value
₹366₹766
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 2,537 |
| PV of terminal value | 7,045 |
| Enterprise value | 9,582 |
| less net debt | 748 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 10,330 |
| ÷ 13.26 crore shares | ₹779 |
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% | 802 | 855 | 919 | 996 | 1,093 |
| 10.50% | 747 | 790 | 842 | 905 | 981 |
| 11.00% | 699 | 736 | 779 | 830 | 891 |
| 11.50% | 657 | 689 | 725 | 768 | 818 |
| 12.00% | 621 | 648 | 679 | 715 | 757 |
The outlined cell is your model. Green figures sit above the CMP of ₹504.00; 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 | 650 · 775 · 926 |
| Draws below the CMP | 0% |
| Rank correlation with ebitda margin | +0.65 |
| Rank correlation with discount rate | −0.60 |
| Rank correlation with revenue growth | +0.40 |
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 | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,355 | 3,928 | 4,028 | 4,418 | 4,837 | 5,297 | 5,800 | 6,351 | 6,955 |
| growth % | 4.6 | 17.1 | 2.5 | 9.7 | 9.5 | 9.5 | 9.5 | 9.5 | 9.5 |
| EBITDA | 588 | 732 | 691 | 724 | 793 | 869 | 951 | 1,042 | 1,141 |
| margin % | 17.5 | 18.6 | 17.2 | 16.4 | 16.4 | 16.4 | 16.4 | 16.4 | 16.4 |
| less depreciation | (46) | (85) | (98) | (122) | (135) | (148) | (162) | (178) | (195) |
| EBIT | 542 | 647 | 593 | 602 | 658 | 720 | 789 | 864 | 946 |
| less tax on EBIT | (119) | (130) | (142) | (155) | (170) | (186) | |||
| NOPAT | 483 | 528 | 578 | 633 | 694 | 759 | |||
| add depreciation | 46 | 85 | 98 | 122 | 135 | 148 | 162 | 178 | 195 |
| less capex | 0 | (159) | (128) | (11) | (10) | (52) | (103) | (163) | (234) |
| less working-capital build | — | (29) | (32) | (35) | (39) | (42) | |||
| Free cash flow to firm | 247 | 431 | 514 | — | 625 | 642 | 657 | 670 | 678 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 593 | 549 | 506 | 465 | 424 |
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 0, dividends at 31.5% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 602 | 658 | 720 | 789 | 864 | 946 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 658 | 720 | 789 | 864 | 946 | |
| Profit after tax | 510 | 528 | 578 | 633 | 694 | 759 |
| Dividends | (160) | (166) | (182) | (200) | (218) | (239) |
| Balance sheet, year end | ||||||
| Cash | 748 | 1,206 | 1,666 | 2,124 | 2,575 | 3,014 |
| Working capital | 310 | 339 | 371 | 407 | 445 | 487 |
| Net block and other assets | 2,672 | 2,546 | 2,451 | 2,391 | 2,377 | 2,416 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 2,488 | 2,850 | 3,246 | 3,680 | 4,155 | 4,675 |
| Balance check | 0 | (0) | 0 | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 634 | 695 | 761 | 833 | 912 | |
| Investing (capex) | (10) | (52) | (103) | (163) | (234) | |
| Financing (dividends) | (166) | (182) | (200) | (218) | (239) | |
| Net change in cash | 458 | 460 | 458 | 451 | 439 | |
| Free cash flow to equity | 625 | 642 | 657 | 670 | 678 | |
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 | 9.5% | 16.4% | 11.00% | 5% | ₹779 | 54.5% |
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.