Models
Vistar Amar LimitedBSE 538565Food Products
₹247per 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₹247implied FY26 P/E 15.2× · EV/EBITDA 8.3×
Against CMP ₹179.95+37.0%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 FY3184%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
₹189₹362
52-week rangetraded range, a fact not a value
₹91₹255
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 21 |
| PV of terminal value | 113 |
| Enterprise value | 134 |
| less net debt | 8 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 142 |
| ÷ 0.58 crore shares | ₹247 |
84% 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% | 255 | 274 | 298 | 326 | 362 |
| 10.50% | 234 | 251 | 270 | 293 | 321 |
| 11.00% | 217 | 231 | 247 | 265 | 288 |
| 11.50% | 202 | 214 | 227 | 243 | 261 |
| 12.00% | 189 | 199 | 210 | 223 | 239 |
The outlined cell is your model. Green figures sit above the CMP of ₹179.95; 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 | 129 · 241 · 347 |
| Draws below the CMP | 23% |
| Rank correlation with ebitda margin | +0.92 |
| Rank correlation with discount rate | −0.26 |
| Rank correlation with revenue growth | −0.24 |
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 | 64 | 74 | 27 | 158 | 206 | 268 | 348 | 453 | 588 |
| growth % | 14.7 | 15.5 | (63.6) | 487.1 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 5 | 5 | (1) | 16 | 21 | 27 | 36 | 46 | 60 |
| margin % | 7.3 | 7.3 | (3.2) | 10.2 | 10.2 | 10.2 | 10.2 | 10.2 | 10.2 |
| less depreciation | (0) | (0) | (1) | (4) | (5) | (6) | (8) | (10) | (14) |
| EBIT | 4 | 5 | (1) | 13 | 16 | 21 | 28 | 36 | 46 |
| less tax on EBIT | (3) | (4) | (5) | (7) | (9) | (12) | |||
| NOPAT | 9 | 12 | 16 | 20 | 27 | 34 | |||
| add depreciation | 0 | 0 | 1 | 4 | 5 | 6 | 8 | 10 | 14 |
| less capex | (0) | (0) | (15) | (6) | (7) | (9) | (11) | (13) | (16) |
| less working-capital build | — | (7) | (10) | (12) | (16) | (21) | |||
| Free cash flow to firm | (0) | 3 | (25) | — | 2 | 3 | 5 | 8 | 11 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 2 | 3 | 4 | 5 | 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 0, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 13 | 16 | 21 | 28 | 36 | 46 |
| Interest at 8% on debt | (0) | (0) | (0) | (0) | (0) | |
| Profit before tax | 16 | 21 | 27 | 36 | 46 | |
| Profit after tax | 9 | 12 | 16 | 20 | 27 | 34 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 9 | 11 | 14 | 19 | 27 | 38 |
| Working capital | 24 | 32 | 41 | 54 | 70 | 91 |
| Net block and other assets | 51 | 54 | 57 | 60 | 62 | 65 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 54 | 66 | 82 | 102 | 129 | 163 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 9 | 12 | 16 | 21 | 27 | |
| Investing (capex) | (7) | (9) | (11) | (13) | (16) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 2 | 3 | 5 | 8 | 11 | |
| Free cash flow to equity | 2 | 3 | 5 | 8 | 11 | |
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 | 30% | 10.2% | 11.00% | 5% | ₹247 | 37.0% |
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.