Models
TRIVENI TURBINE LIMITEDTRITURBINEElectrical Equipment
₹170per 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₹170implied FY26 P/E 16.1× · EV/EBITDA 12.2×
Against CMP ₹568.60−70.0%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3177%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
₹132₹247
52-week rangetraded range, a fact not a value
₹428₹788
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,216 |
| PV of terminal value | 4,100 |
| Enterprise value | 5,316 |
| less net debt | 101 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 5,417 |
| ÷ 31.80 crore shares | ₹170 |
77% 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% | 176 | 189 | 204 | 223 | 247 |
| 10.50% | 162 | 173 | 186 | 201 | 219 |
| 11.00% | 151 | 160 | 170 | 183 | 198 |
| 11.50% | 141 | 149 | 157 | 168 | 180 |
| 12.00% | 132 | 139 | 146 | 155 | 165 |
The outlined cell is your model. Green figures sit above the CMP of ₹568.60; 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 | 142 · 169 · 204 |
| Draws below the CMP | 100% |
| Rank correlation with discount rate | −0.65 |
| Rank correlation with ebitda margin | +0.64 |
| Rank correlation with revenue growth | +0.33 |
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 | 1,248 | 1,654 | 2,006 | 2,181 | 2,366 | 2,568 | 2,786 | 3,023 | 3,280 |
| growth % | 46.4 | 32.6 | 21.3 | 8.7 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 |
| EBITDA | 234 | 319 | 437 | 435 | 471 | 511 | 554 | 602 | 653 |
| margin % | 18.7 | 19.3 | 21.8 | 19.9 | 19.9 | 19.9 | 19.9 | 19.9 | 19.9 |
| less depreciation | (20) | (21) | (26) | (34) | (38) | (41) | (45) | (48) | (52) |
| EBIT | 214 | 298 | 410 | 401 | 433 | 470 | 510 | 553 | 600 |
| less tax on EBIT | (105) | (113) | (123) | (133) | (144) | (157) | |||
| NOPAT | 296 | 320 | 347 | 377 | 409 | 444 | |||
| add depreciation | 20 | 21 | 26 | 34 | 38 | 41 | 45 | 48 | 52 |
| less capex | (39) | (32) | (43) | (72) | (78) | (76) | (73) | (68) | (63) |
| less working-capital build | — | (28) | (30) | (33) | (35) | (38) | |||
| Free cash flow to firm | 157 | 239 | 144 | — | 252 | 282 | 316 | 353 | 395 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 239 | 242 | 244 | 245 | 247 |
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 38.6% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 401 | 433 | 470 | 510 | 553 | 600 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 433 | 470 | 510 | 553 | 600 | |
| Profit after tax | 350 | 320 | 347 | 377 | 409 | 444 |
| Dividends | (135) | (124) | (134) | (145) | (158) | (171) |
| Balance sheet, year end | ||||||
| Cash | 101 | 229 | 378 | 548 | 744 | 968 |
| Working capital | 325 | 353 | 383 | 415 | 450 | 489 |
| Net block and other assets | 2,071 | 2,111 | 2,146 | 2,174 | 2,194 | 2,205 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 1,446 | 1,643 | 1,856 | 2,087 | 2,338 | 2,610 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 330 | 358 | 389 | 422 | 458 | |
| Investing (capex) | (78) | (76) | (73) | (68) | (63) | |
| Financing (dividends) | (124) | (134) | (145) | (158) | (171) | |
| Net change in cash | 129 | 148 | 171 | 196 | 224 | |
| Free cash flow to equity | 252 | 282 | 316 | 353 | 395 | |
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 | 8.5% | 19.9% | 11.00% | 5% | ₹170 | (70.0)% |
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.