Models
UFLEX LIMITEDUFLEXIndustrial Products
₹-202per 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₹(202)implied FY26 P/E (2.1)× · EV/EBITDA 4.0×
Against CMP ₹655.00−130.9%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3199%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
₹(499)₹392
52-week rangetraded range, a fact not a value
₹330₹724
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 103 |
| PV of terminal value | 7,303 |
| Enterprise value | 7,406 |
| less net debt | (8,868) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | (1,462) |
| ÷ 7.22 crore shares | ₹(202) |
99% 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% | (163) | (62) | 59 | 207 | 392 |
| 10.50% | (266) | (183) | (84) | 35 | 180 |
| 11.00% | (355) | (285) | (202) | (105) | 11 |
| 11.50% | (432) | (372) | (303) | (222) | (126) |
| 12.00% | (499) | (447) | (388) | (320) | (241) |
The outlined cell is your model. Green figures sit above the CMP of ₹655.00; 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 | (570) · (211) · 178 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.90 |
| Rank correlation with discount rate | −0.40 |
| Rank correlation with revenue growth | −0.06 |
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 | 14,663 | 13,364 | 15,036 | 15,401 | 15,786 | 16,180 | 16,585 | 16,999 | 17,424 |
| growth % | 11.7 | (8.9) | 12.5 | 2.4 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 |
| EBITDA | 1,607 | 496 | 1,493 | 1,852 | 1,894 | 1,942 | 1,990 | 2,040 | 2,091 |
| margin % | 11.0 | 3.7 | 9.9 | 12.0 | 12.0 | 12.0 | 12.0 | 12.0 | 12.0 |
| less depreciation | (599) | (655) | (695) | (787) | (805) | (825) | (846) | (867) | (889) |
| EBIT | 1,008 | (159) | 799 | 1,065 | 1,089 | 1,116 | 1,144 | 1,173 | 1,202 |
| less tax on EBIT | (192) | (196) | (201) | (206) | (211) | (216) | |||
| NOPAT | 873 | 893 | 915 | 938 | 962 | 986 | |||
| add depreciation | 599 | 655 | 695 | 787 | 805 | 825 | 846 | 867 | 889 |
| less capex | (1,299) | (1,637) | (1,731) | (2,049) | (2,099) | (1,862) | (1,610) | (1,345) | (1,066) |
| less working-capital build | — | (95) | (97) | (100) | (102) | (105) | |||
| Free cash flow to firm | 84 | (812) | (597) | — | (496) | (218) | 74 | 381 | 703 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (471) | (187) | 57 | 264 | 440 |
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 9,853, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 1,065 | 1,089 | 1,116 | 1,144 | 1,173 | 1,202 |
| Interest at 8.7% on debt | (857) | (857) | (857) | (857) | (857) | |
| Profit before tax | 232 | 259 | 287 | 316 | 345 | |
| Profit after tax | 0 | 190 | 213 | 235 | 259 | 283 |
| Dividends | (22) | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 984 | (215) | (1,136) | (1,765) | (2,087) | (2,087) |
| Working capital | 3,810 | 3,905 | 4,003 | 4,103 | 4,205 | 4,310 |
| Net block and other assets | 17,377 | 18,671 | 19,708 | 20,472 | 20,951 | 21,129 |
| Debt | 9,853 | 9,853 | 9,853 | 9,853 | 9,853 | 9,853 |
| Equity | 8,122 | 8,313 | 8,525 | 8,761 | 9,020 | 9,303 |
| Balance check | 0 | (0) | (0) | 0 | (0) | (0) |
| Cash flow | ||||||
| From operations | 900 | 940 | 981 | 1,023 | 1,067 | |
| Investing (capex) | (2,099) | (1,862) | (1,610) | (1,345) | (1,066) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (1,199) | (921) | (629) | (322) | 0 | |
| Free cash flow to equity | (1,199) | (921) | (629) | (322) | 0 | |
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 | 2.5% | 12% | 11.00% | 5% | ₹(202) | (130.9)% |
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.