Models
UNIHEALTH HOSPITALS LTDUNIHEALTH
₹339per 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₹339implied FY26 P/E —× · EV/EBITDA 10.1×
Against CMP ₹717.90−52.8%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3192%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
₹245₹526
52-week rangetraded range, a fact not a value
₹134₹820
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 43 |
| PV of terminal value | 500 |
| Enterprise value | 543 |
| less net debt | (11) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 532 |
| ÷ 1.57 crore shares | ₹339 |
92% 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% | 351 | 383 | 421 | 468 | 526 |
| 10.50% | 319 | 345 | 376 | 414 | 459 |
| 11.00% | 291 | 313 | 339 | 369 | 406 |
| 11.50% | 266 | 285 | 307 | 333 | 363 |
| 12.00% | 245 | 262 | 280 | 302 | 327 |
The outlined cell is your model. Green figures sit above the CMP of ₹717.90; 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 | 135 · 331 · 502 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.88 |
| Rank correlation with revenue growth | −0.34 |
| Rank correlation with discount rate | −0.25 |
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 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|
| Revenue | 56 | 132 | 172 | 223 | 290 | 377 | 490 |
| growth % | — | 137.4 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | — | 54 | 70 | 91 | 118 | 154 | 200 |
| margin % | — | 40.8 | 40.8 | 40.8 | 40.8 | 40.8 | 40.8 |
| less depreciation | — | (10) | (13) | (17) | (22) | (29) | (38) |
| EBIT | — | 44 | 57 | 74 | 96 | 125 | 162 |
| less tax on EBIT | (1) | (1) | (1) | (2) | (2) | (3) | |
| NOPAT | 43 | 56 | 73 | 94 | 123 | 159 | |
| add depreciation | — | 10 | 13 | 17 | 22 | 29 | 38 |
| less capex | (10) | (31) | (41) | (45) | (48) | (48) | (45) |
| less working-capital build | — | (36) | (47) | (61) | (80) | (104) | |
| Free cash flow to firm | (13) | — | (8) | (2) | 8 | 23 | 48 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | (8) | (2) | 6 | 16 | 30 |
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 21, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 44 | 57 | 74 | 96 | 125 | 162 |
| Interest at 11% on debt | (2) | (2) | (2) | (2) | (2) | |
| Profit before tax | 54 | 71 | 94 | 122 | 160 | |
| Profit after tax | 26 | 53 | 70 | 92 | 120 | 157 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 10 | 0 | (4) | 1 | 22 | 68 |
| Working capital | 121 | 157 | 204 | 266 | 345 | 449 |
| Net block and other assets | 123 | 150 | 178 | 203 | 223 | 230 |
| Debt | 21 | 21 | 21 | 21 | 21 | 21 |
| Equity | 198 | 251 | 322 | 414 | 534 | 691 |
| Balance check | 0 | 0 | 0 | (0) | (0) | 0 |
| Cash flow | ||||||
| From operations | 30 | 40 | 53 | 70 | 91 | |
| Investing (capex) | (41) | (45) | (48) | (48) | (45) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (10) | (5) | 5 | 21 | 46 | |
| Free cash flow to equity | (10) | (5) | 5 | 21 | 46 | |
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% | 40.8% | 11.00% | 5% | ₹339 | (52.8)% |
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.