Models
VEEDOL CORPORATION LTDVEEDOLPetroleum Products
₹1,401per 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₹1,401implied FY26 P/E 10.8× · EV/EBITDA 9.8×
Against CMP ₹1,433.00−2.3%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3176%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
₹1,107₹1,985
52-week rangetraded range, a fact not a value
₹1,238₹2,035
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 533 |
| PV of terminal value | 1,680 |
| Enterprise value | 2,213 |
| less net debt | 168 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,381 |
| ÷ 1.70 crore shares | ₹1,401 |
76% 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% | 1,444 | 1,542 | 1,660 | 1,805 | 1,985 |
| 10.50% | 1,340 | 1,422 | 1,519 | 1,635 | 1,776 |
| 11.00% | 1,251 | 1,320 | 1,401 | 1,496 | 1,610 |
| 11.50% | 1,175 | 1,233 | 1,301 | 1,380 | 1,473 |
| 12.00% | 1,107 | 1,158 | 1,215 | 1,282 | 1,359 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,433.00; 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 | 1,133 · 1,389 · 1,687 |
| Draws below the CMP | 58% |
| Rank correlation with ebitda margin | +0.81 |
| Rank correlation with discount rate | −0.54 |
| Rank correlation with revenue growth | +0.02 |
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 | 1,854 | 1,931 | 1,970 | 2,169 | 2,385 | 2,624 | 2,886 | 3,175 | 3,492 |
| growth % | 20.7 | 4.2 | 2.0 | 10.1 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 |
| EBITDA | 142 | 169 | 188 | 227 | 250 | 276 | 303 | 333 | 367 |
| margin % | 7.7 | 8.7 | 9.5 | 10.5 | 10.5 | 10.5 | 10.5 | 10.5 | 10.5 |
| less depreciation | (16) | (15) | (29) | (34) | (38) | (42) | (46) | (51) | (56) |
| EBIT | 127 | 154 | 159 | 193 | 212 | 234 | 257 | 283 | 311 |
| less tax on EBIT | (43) | (48) | (53) | (58) | (64) | (70) | |||
| NOPAT | 149 | 165 | 181 | 199 | 219 | 241 | |||
| add depreciation | 16 | 15 | 29 | 34 | 38 | 42 | 46 | 51 | 56 |
| less capex | (15) | (47) | (42) | (35) | (38) | (44) | (51) | (58) | (67) |
| less working-capital build | — | (46) | (51) | (56) | (62) | (68) | |||
| Free cash flow to firm | 88 | 108 | (12) | — | 118 | 128 | 138 | 150 | 162 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 112 | 109 | 107 | 104 | 101 |
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 0, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 193 | 212 | 234 | 257 | 283 | 311 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 212 | 234 | 257 | 283 | 311 | |
| Profit after tax | 0 | 165 | 181 | 199 | 219 | 241 |
| Dividends | (101) | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 168 | 286 | 414 | 552 | 702 | 864 |
| Working capital | 463 | 510 | 561 | 617 | 679 | 747 |
| Net block and other assets | 775 | 775 | 777 | 781 | 789 | 800 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 1,036 | 1,200 | 1,381 | 1,580 | 1,799 | 2,040 |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 156 | 172 | 189 | 208 | 229 | |
| Investing (capex) | (38) | (44) | (51) | (58) | (67) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 118 | 128 | 138 | 150 | 162 | |
| Free cash flow to equity | 118 | 128 | 138 | 150 | 162 | |
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 | 10% | 10.5% | 11.00% | 5% | ₹1,401 | (2.3)% |
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.