Models
VISHNU CHEMICALS LIMITEDVISHNUChemicals & Petrochemicals
₹179per 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₹179implied FY26 P/E 8.0× · EV/EBITDA 6.8×
Against CMP ₹714.90−74.9%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY31102%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
₹103₹332
52-week rangetraded range, a fact not a value
₹444₹744
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | (28) |
| PV of terminal value | 1,754 |
| Enterprise value | 1,726 |
| less net debt | (519) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,207 |
| ÷ 6.73 crore shares | ₹179 |
102% 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% | 189 | 215 | 247 | 285 | 332 |
| 10.50% | 163 | 184 | 210 | 240 | 278 |
| 11.00% | 140 | 158 | 179 | 204 | 234 |
| 11.50% | 120 | 136 | 154 | 174 | 199 |
| 12.00% | 103 | 116 | 132 | 149 | 170 |
The outlined cell is your model. Green figures sit above the CMP of ₹714.90; 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 | 105 · 177 · 258 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.83 |
| Rank correlation with discount rate | −0.51 |
| Rank correlation with revenue growth | −0.03 |
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 | 1,391 | 1,213 | 1,447 | 1,610 | 1,795 | 2,001 | 2,231 | 2,488 | 2,774 |
| growth % | 30.1 | (12.8) | 19.3 | 11.3 | 11.5 | 11.5 | 11.5 | 11.5 | 11.5 |
| EBITDA | 230 | 202 | 228 | 252 | 282 | 314 | 350 | 391 | 436 |
| margin % | 16.5 | 16.6 | 15.8 | 15.7 | 15.7 | 15.7 | 15.7 | 15.7 | 15.7 |
| less depreciation | (26) | (34) | (38) | (41) | (47) | (52) | (58) | (65) | (72) |
| EBIT | 204 | 168 | 190 | 211 | 235 | 262 | 292 | 326 | 363 |
| less tax on EBIT | (57) | (64) | (71) | (80) | (89) | (99) | |||
| NOPAT | 154 | 171 | 191 | 213 | 237 | 265 | |||
| add depreciation | 26 | 34 | 38 | 41 | 47 | 52 | 58 | 65 | 72 |
| less capex | (117) | (120) | (88) | (257) | (287) | (256) | (213) | (158) | (87) |
| less working-capital build | — | (53) | (59) | (65) | (73) | (81) | |||
| Free cash flow to firm | 17 | (53) | 2 | — | (122) | (71) | (8) | 71 | 169 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (116) | (61) | (6) | 50 | 106 |
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 527, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 211 | 235 | 262 | 292 | 326 | 363 |
| Interest at 8.8% on debt | (46) | (46) | (46) | (46) | (46) | |
| Profit before tax | 189 | 216 | 246 | 280 | 317 | |
| Profit after tax | 0 | 137 | 157 | 179 | 203 | 231 |
| Dividends | (2) | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 8 | (148) | (253) | (295) | (257) | (122) |
| Working capital | 458 | 510 | 569 | 634 | 707 | 788 |
| Net block and other assets | 1,622 | 1,862 | 2,066 | 2,222 | 2,315 | 2,329 |
| Debt | 527 | 527 | 527 | 527 | 527 | 527 |
| Equity | 1,075 | 1,212 | 1,369 | 1,548 | 1,752 | 1,982 |
| Balance check | 0 | 0 | 0 | (0) | 0 | (0) |
| Cash flow | ||||||
| From operations | 131 | 150 | 172 | 195 | 222 | |
| Investing (capex) | (287) | (256) | (213) | (158) | (87) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (156) | (105) | (42) | 38 | 135 | |
| Free cash flow to equity | (156) | (105) | (42) | 38 | 135 | |
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 | 11.5% | 15.7% | 11.00% | 5% | ₹179 | (74.9)% |
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.