Models
UNITED CREDIT LTD.BSE 531091Finance
₹-28per 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₹(28)implied P/B (0.49)× on FY26 book
Against CMP ₹23.50−218.0%close of 2026-09-10
Cost of equity8.66%risk-free + beta × equity risk premium
Book equity, FY26₹56per share · excess returns add ₹(84)
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 | 31 | 32 | 33 | 34 | 35 |
| Net income at 2.8% ROE | 1 | 1 | 1 | 1 | 1 |
| Cost of equity charge at 8.66% | (3) | (3) | (3) | (3) | (3) |
| Excess return | (2) | (2) | (2) | (2) | (2) |
| Present value | (2) | (2) | (2) | (1) | (1) |
| Closing book equity | 32 | 33 | 34 | 35 | 36 |
| Book equity today | 31 |
| PV of 5 years of excess return | (8) |
| PV of the terminal excess return, 5% flat | (38) |
| add non-operating investments | 0 |
| Equity value | (15) |
| ÷ 0.55 crore shares | ₹(28) |
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
₹19₹38
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 2.8% | — | 8.66% | 5% | ₹(28) | (218.0)% |
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.