Models
THE ANUP ENGINEERING LTDANUPIndustrial Manufacturing
₹666per 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₹666implied FY26 P/E 15.7× · EV/EBITDA 8.3×
Against CMP ₹1,667.00−60.1%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3180%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
₹496₹1,004
52-week rangetraded range, a fact not a value
₹1,422₹2,576
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 289 |
| PV of terminal value | 1,149 |
| Enterprise value | 1,438 |
| less net debt | (104) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,334 |
| ÷ 2.00 crore shares | ₹666 |
80% 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% | 690 | 747 | 816 | 900 | 1,004 |
| 10.50% | 630 | 678 | 734 | 801 | 884 |
| 11.00% | 579 | 619 | 666 | 721 | 787 |
| 11.50% | 535 | 569 | 608 | 654 | 708 |
| 12.00% | 496 | 525 | 559 | 597 | 642 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,667.00; 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 | 476 · 660 · 853 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.85 |
| Rank correlation with discount rate | −0.45 |
| Rank correlation with revenue growth | −0.19 |
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 | FY22 | FY23 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 288 | 411 | 733 | 822 | 921 | 1,031 | 1,155 | 1,294 | 1,449 |
| growth % | 3.3 | 42.7 | 78.1 | 12.2 | 12.0 | 12.0 | 12.0 | 12.0 | 12.0 |
| EBITDA | 70 | 83 | 150 | 173 | 193 | 217 | 243 | 272 | 304 |
| margin % | 24.3 | 20.1 | 20.4 | 21.0 | 21.0 | 21.0 | 21.0 | 21.0 | 21.0 |
| less depreciation | (12) | (13) | (128) | (28) | (31) | (35) | (39) | (44) | (49) |
| EBIT | 58 | 70 | 22 | 145 | 162 | 182 | 203 | 228 | 255 |
| less tax on EBIT | (30) | (34) | (38) | (42) | (47) | (53) | |||
| NOPAT | 115 | 128 | 144 | 161 | 180 | 202 | |||
| add depreciation | 12 | 13 | 128 | 28 | 31 | 35 | 39 | 44 | 49 |
| less capex | (42) | (75) | (45) | (53) | (59) | (60) | (61) | (60) | (59) |
| less working-capital build | — | (52) | (58) | (65) | (73) | (82) | |||
| Free cash flow to firm | 32 | (45) | (192) | — | 49 | 61 | 75 | 91 | 111 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 46 | 52 | 58 | 63 | 69 |
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 108, dividends at 30.4% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 145 | 162 | 182 | 203 | 228 | 255 |
| Interest at 12.7% on debt | (14) | (14) | (14) | (14) | (14) | |
| Profit before tax | 148 | 168 | 190 | 214 | 241 | |
| Profit after tax | 110 | 118 | 133 | 150 | 170 | 191 |
| Dividends | (34) | (36) | (40) | (46) | (52) | (58) |
| Balance sheet, year end | ||||||
| Cash | 4 | 6 | 16 | 34 | 63 | 105 |
| Working capital | 432 | 483 | 541 | 606 | 679 | 761 |
| Net block and other assets | 535 | 563 | 588 | 609 | 625 | 635 |
| Debt | 108 | 108 | 108 | 108 | 108 | 108 |
| Equity | 691 | 773 | 865 | 970 | 1,088 | 1,221 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 97 | 110 | 124 | 141 | 159 | |
| Investing (capex) | (59) | (60) | (61) | (60) | (59) | |
| Financing (dividends) | (36) | (40) | (46) | (52) | (58) | |
| Net change in cash | 2 | 10 | 18 | 29 | 42 | |
| Free cash flow to equity | 38 | 50 | 64 | 80 | 100 | |
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 | 12% | 21% | 11.00% | 5% | ₹666 | (60.1)% |
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.