Models
TATA CAPITAL LIMITEDTATACAPFinance
₹86per share · Base Model Note
Scenario
Value per share, your model₹86implied P/B 0.77× on FY26 book
Against CMP ₹363.05−76.3%close of 2026-09-10
Cost of equity11.66%risk-free + beta × equity risk premium
Book equity, FY26₹111per share · excess returns add ₹(25)
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 | 47,107 | 51,840 | 57,048 | 62,779 | 69,086 |
| Net income at 10.4% ROE | 4,899 | 5,391 | 5,933 | 6,529 | 7,185 |
| Cost of equity charge at 11.66% | (5,492) | (6,044) | (6,651) | (7,319) | (8,055) |
| Excess return | (593) | (653) | (718) | (790) | (870) |
| Present value | (561) | (553) | (545) | (537) | (530) |
| Closing book equity | 51,840 | 57,048 | 62,779 | 69,086 | 76,026 |
| Book equity today | 47,107 |
| PV of 5 years of excess return | (2,726) |
| PV of the terminal excess return, 5% flat | (7,902) |
| add non-operating investments | 0 |
| Equity value | 36,479 |
| ÷ 424.49 crore shares | ₹86 |
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
₹296₹390
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 10.4% | — | 11.66% | 5% | ₹86 | (76.3)% |
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.