Models
VIPPY SPINPRO LTD.BSE 514302Textiles & Apparels
₹-102per 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₹(102)implied FY26 P/E (4.3)× · EV/EBITDA 1.8×
Against CMP ₹180.00−156.7%close of 28 Oct 2026
Growth the CMP implies—%no growth rate between −20% and 45% a year brings the value to the CMP on your other inputs
Value after FY31209%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
₹(155)₹6
52-week rangetraded range, a fact not a value
₹131₹202
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | (57) |
| PV of terminal value | 109 |
| Enterprise value | 52 |
| less net debt | (112) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | (60) |
| ÷ 0.59 crore shares | ₹(102) |
209% 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% | (96) | (77) | (55) | (28) | 6 |
| 10.50% | (114) | (99) | (81) | (59) | (32) |
| 11.00% | (130) | (117) | (102) | (84) | (63) |
| 11.50% | (144) | (133) | (120) | (105) | (87) |
| 12.00% | (155) | (146) | (135) | (122) | (108) |
The outlined cell is your model. Green figures sit above the CMP of ₹180.00; 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 | (148) · (101) · (49) |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.80 |
| Rank correlation with discount rate | −0.57 |
| 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 | 156 | 250 | 279 | 268 | 257 | 247 | 237 | 228 | 219 |
| growth % | 12.1 | 59.7 | 11.9 | (4.0) | (4.0) | (4.0) | (4.0) | (4.0) | (4.0) |
| EBITDA | 17 | 18 | 26 | 29 | 28 | 26 | 25 | 24 | 23 |
| margin % | 10.7 | 7.1 | 9.3 | 10.7 | 10.7 | 10.7 | 10.7 | 10.7 | 10.7 |
| less depreciation | (3) | (10) | (10) | (12) | (12) | (11) | (11) | (10) | (10) |
| EBIT | 14 | 8 | 16 | 16 | 16 | 15 | 14 | 14 | 13 |
| less tax on EBIT | (5) | (5) | (5) | (4) | (4) | (4) | |||
| NOPAT | 11 | 11 | 10 | 10 | 10 | 9 | |||
| add depreciation | 3 | 10 | 10 | 12 | 12 | 11 | 11 | 10 | 10 |
| less capex | (49) | (11) | (3) | (66) | (63) | (49) | (36) | (23) | (12) |
| less working-capital build | — | 4 | 4 | 4 | 3 | 3 | |||
| Free cash flow to firm | (22) | (24) | 26 | — | (37) | (23) | (11) | 0 | 11 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (35) | (20) | (9) | 0 | 7 |
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 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 16 | 16 | 15 | 14 | 14 | 13 |
| Interest at 3.4% on debt | (4) | (4) | (4) | (4) | (4) | |
| Profit before tax | 12 | 11 | 11 | 10 | 10 | |
| Profit after tax | 12 | 8 | 8 | 7 | 7 | 7 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 0 | (39) | (66) | (79) | (82) | (74) |
| Working capital | 96 | 92 | 89 | 85 | 82 | 78 |
| Net block and other assets | 134 | 185 | 223 | 248 | 261 | 263 |
| Debt | 112 | 112 | 112 | 112 | 112 | 112 |
| Equity | 100 | 108 | 116 | 123 | 130 | 137 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 24 | 23 | 22 | 21 | 20 | |
| Investing (capex) | (63) | (49) | (36) | (23) | (12) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (39) | (26) | (14) | (3) | 8 | |
| Free cash flow to equity | (39) | (26) | (14) | (3) | 8 | |
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 | -4% | 10.7% | 11.00% | 5% | ₹(102) | (156.7)% |
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.