₹4per 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₹4implied P/B 0.02× on FY26 book
Against CMP ₹84.24−95.4%close of 2026-09-10
Cost of equity17.36%risk-free + beta × equity risk premium
Book equity, FY26₹190per share · excess returns add ₹(186)
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 | 2,906 | 3,080 | 3,265 | 3,461 | 3,669 |
| Net income at 6% ROE | 174 | 185 | 196 | 208 | 220 |
| Cost of equity charge at 17.36% | (505) | (535) | (567) | (601) | (637) |
| Excess return | (330) | (350) | (371) | (393) | (417) |
| Present value | (305) | (275) | (249) | (225) | (203) |
| Closing book equity | 3,080 | 3,265 | 3,461 | 3,669 | 3,889 |
| Book equity today | 2,906 |
| PV of 5 years of excess return | (1,256) |
| PV of the terminal excess return, 5% flat | (1,590) |
| add non-operating investments | 0 |
| Equity value | 60 |
| ÷ 15.28 crore shares | ₹4 |
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
₹80₹193
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 6% | — | 17.36% | 5% | ₹4 | (95.4)% |
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.