Models
VAIBHAV GLOBAL LIMITEDVAIBHAVGBLConsumer Durables
₹211per 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₹211implied FY26 P/E 12.4× · EV/EBITDA 9.2×
Against CMP ₹213.40−1.0%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3171%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
₹169₹294
52-week rangetraded range, a fact not a value
₹174₹293
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 964 |
| PV of terminal value | 2,348 |
| Enterprise value | 3,312 |
| less net debt | 221 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 3,533 |
| ÷ 16.73 crore shares | ₹211 |
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% | 217 | 231 | 248 | 269 | 294 |
| 10.50% | 203 | 214 | 228 | 244 | 265 |
| 11.00% | 190 | 200 | 211 | 225 | 241 |
| 11.50% | 179 | 187 | 197 | 208 | 221 |
| 12.00% | 169 | 177 | 185 | 194 | 205 |
The outlined cell is your model. Green figures sit above the CMP of ₹213.40; 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 | 163 · 210 · 260 |
| Draws below the CMP | 54% |
| Rank correlation with ebitda margin | +0.87 |
| Rank correlation with discount rate | −0.43 |
| Rank correlation with revenue growth | −0.08 |
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 | 2,691 | 3,041 | 3,380 | 3,692 | 4,024 | 4,386 | 4,781 | 5,211 | 5,680 |
| growth % | (2.2) | 13.0 | 11.1 | 9.2 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 |
| EBITDA | 200 | 260 | 289 | 358 | 390 | 425 | 464 | 505 | 551 |
| margin % | 7.4 | 8.6 | 8.6 | 9.7 | 9.7 | 9.7 | 9.7 | 9.7 | 9.7 |
| less depreciation | (78) | (93) | (102) | (103) | (113) | (123) | (134) | (146) | (159) |
| EBIT | 122 | 167 | 187 | 256 | 278 | 303 | 330 | 360 | 392 |
| less tax on EBIT | (14) | (16) | (17) | (18) | (20) | (22) | |||
| NOPAT | 241 | 262 | 286 | 311 | 339 | 370 | |||
| add depreciation | 78 | 93 | 102 | 103 | 113 | 123 | 134 | 146 | 159 |
| less capex | (36) | (44) | (35) | (33) | (36) | (66) | (102) | (143) | (191) |
| less working-capital build | — | (79) | (87) | (94) | (103) | (112) | |||
| Free cash flow to firm | 92 | 233 | 130 | — | 259 | 256 | 249 | 239 | 226 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 246 | 218 | 192 | 166 | 141 |
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 112, dividends at 39.6% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 256 | 278 | 303 | 330 | 360 | 392 |
| Interest at 13.2% on debt | (15) | (15) | (15) | (15) | (15) | |
| Profit before tax | 263 | 288 | 315 | 345 | 377 | |
| Profit after tax | 266 | 248 | 272 | 297 | 325 | 356 |
| Dividends | (105) | (98) | (108) | (118) | (129) | (141) |
| Balance sheet, year end | ||||||
| Cash | 334 | 480 | 614 | 732 | 828 | 899 |
| Working capital | 883 | 962 | 1,049 | 1,143 | 1,246 | 1,358 |
| Net block and other assets | 1,331 | 1,254 | 1,198 | 1,166 | 1,163 | 1,195 |
| Debt | 112 | 112 | 112 | 112 | 112 | 112 |
| Equity | 1,648 | 1,798 | 1,962 | 2,142 | 2,338 | 2,553 |
| Balance check | 0 | (0) | 0 | 0 | (0) | (0) |
| Cash flow | ||||||
| From operations | 281 | 308 | 337 | 369 | 403 | |
| Investing (capex) | (36) | (66) | (102) | (143) | (191) | |
| Financing (dividends) | (98) | (108) | (118) | (129) | (141) | |
| Net change in cash | 147 | 134 | 117 | 97 | 71 | |
| Free cash flow to equity | 245 | 242 | 235 | 225 | 212 | |
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 | 9% | 9.7% | 11.00% | 5% | ₹211 | (1.0)% |
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.