Models
TECHNO ELEC & ENG CO. LTDTECHNOEConstruction
₹1,357per 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₹1,357implied FY26 P/E 36.6× · EV/EBITDA 34.2×
Against CMP ₹975.00+39.1%close of 2026-09-10
Growth the CMP implies21.1%revenue, a year for 5 years, on your other inputs
Value after FY3183%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
₹1,026₹2,018
52-week rangetraded range, a fact not a value
₹870₹1,506
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 2,756 |
| PV of terminal value | 13,042 |
| Enterprise value | 15,797 |
| less net debt | (19) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 15,778 |
| ÷ 11.63 crore shares | ₹1,357 |
83% 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% | 1,404 | 1,515 | 1,650 | 1,813 | 2,018 |
| 10.50% | 1,287 | 1,380 | 1,490 | 1,621 | 1,782 |
| 11.00% | 1,187 | 1,265 | 1,357 | 1,464 | 1,594 |
| 11.50% | 1,101 | 1,168 | 1,244 | 1,334 | 1,440 |
| 12.00% | 1,026 | 1,083 | 1,148 | 1,224 | 1,312 |
The outlined cell is your model. Green figures sit above the CMP of ₹975.00; 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 | 980 · 1,348 · 1,834 |
| Draws below the CMP | 10% |
| Rank correlation with revenue growth | +0.84 |
| Rank correlation with discount rate | −0.40 |
| Rank correlation with ebitda margin | +0.31 |
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 | 829 | 1,502 | 2,269 | 3,252 | 4,227 | 5,495 | 7,144 | 9,287 | 12,073 |
| growth % | (22.8) | 81.1 | 51.0 | 43.3 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 87 | 209 | 339 | 462 | 600 | 780 | 1,014 | 1,319 | 1,714 |
| margin % | 10.4 | 13.9 | 15.0 | 14.2 | 14.2 | 14.2 | 14.2 | 14.2 | 14.2 |
| less depreciation | (8) | (8) | (8) | (17) | (21) | (27) | (36) | (46) | (60) |
| EBIT | 79 | 202 | 331 | 445 | 579 | 753 | 979 | 1,272 | 1,654 |
| less tax on EBIT | (98) | (127) | (166) | (215) | (280) | (364) | |||
| NOPAT | 347 | 452 | 587 | 763 | 992 | 1,290 | |||
| add depreciation | 8 | 8 | 8 | 17 | 21 | 27 | 36 | 46 | 60 |
| less capex | (66) | (180) | (168) | (67) | (89) | (95) | (96) | (91) | (72) |
| less working-capital build | — | (8) | (10) | (13) | (17) | (22) | |||
| Free cash flow to firm | 28 | (379) | 285 | — | 376 | 510 | 689 | 931 | 1,256 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 357 | 436 | 531 | 646 | 785 |
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 72, dividends at 22.1% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 445 | 579 | 753 | 979 | 1,272 | 1,654 |
| Interest at 8% on debt | (6) | (6) | (6) | (6) | (6) | |
| Profit before tax | 573 | 747 | 973 | 1,267 | 1,648 | |
| Profit after tax | 474 | 447 | 583 | 759 | 988 | 1,286 |
| Dividends | (105) | (99) | (129) | (168) | (218) | (284) |
| Balance sheet, year end | ||||||
| Cash | 53 | 326 | 703 | 1,220 | 1,928 | 2,895 |
| Working capital | 28 | 35 | 46 | 59 | 76 | 98 |
| Net block and other assets | 5,858 | 5,925 | 5,993 | 6,053 | 6,097 | 6,109 |
| Debt | 72 | 72 | 72 | 72 | 72 | 72 |
| Equity | 4,157 | 4,505 | 4,959 | 5,550 | 6,320 | 7,321 |
| Balance check | 0 | 0 | (0) | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 461 | 600 | 781 | 1,017 | 1,324 | |
| Investing (capex) | (89) | (95) | (96) | (91) | (72) | |
| Financing (dividends) | (99) | (129) | (168) | (218) | (284) | |
| Net change in cash | 273 | 376 | 517 | 708 | 967 | |
| Free cash flow to equity | 372 | 505 | 685 | 927 | 1,251 | |
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 | 30% | 14.2% | 11.00% | 5% | ₹1,357 | 39.1% |
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.