Models
WANBURY LIMITEDWANBURYPharmaceuticals & Biotechnology
₹230per 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₹230implied FY25 P/E 17.1× · EV/EBITDA 12.8×
Against CMP ₹239.00−3.6%close of 2026-09-10
Growth the CMP implies4.7%revenue, a year for 5 years, on your other inputs
Value after FY3080%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
₹164₹363
52-week rangetraded range, a fact not a value
₹162₹359
From enterprise to equity · ₹ crore
| PV of FY26–FY30 free cash flow | 192 |
| PV of terminal value | 782 |
| Enterprise value | 974 |
| less net debt | (169) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 805 |
| ÷ 3.49 crore shares | ₹230 |
80% of the value sits after FY30. 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% | 240 | 262 | 289 | 322 | 363 |
| 10.50% | 217 | 235 | 257 | 283 | 315 |
| 11.00% | 197 | 212 | 230 | 252 | 278 |
| 11.50% | 179 | 193 | 208 | 226 | 247 |
| 12.00% | 164 | 176 | 189 | 204 | 221 |
The outlined cell is your model. Green figures sit above the CMP of ₹239.00; 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 | 180 · 228 · 288 |
| Draws below the CMP | 59% |
| Rank correlation with ebitda margin | +0.69 |
| Rank correlation with discount rate | −0.65 |
| Rank correlation with revenue growth | +0.20 |
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 | FY22 | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 511 | 500 | 576 | 600 | 623 | 648 | 674 | 701 | 729 |
| growth % | 30.2 | (2.3) | 15.2 | 4.1 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 |
| EBITDA | 112 | 23 | 96 | 76 | 79 | 82 | 86 | 89 | 93 |
| margin % | 21.8 | 4.5 | 16.6 | 12.7 | 12.7 | 12.7 | 12.7 | 12.7 | 12.7 |
| less depreciation | (11) | (12) | (13) | (13) | (14) | (14) | (15) | (15) | (16) |
| EBIT | 100 | 10 | 83 | 63 | 65 | 68 | 71 | 74 | 77 |
| less tax on EBIT | 2 | 2 | 2 | 2 | 2 | 3 | |||
| NOPAT | 65 | 68 | 70 | 73 | 76 | 79 | |||
| add depreciation | 11 | 12 | 13 | 13 | 14 | 14 | 15 | 15 | 16 |
| less capex | 0 | 0 | (17) | (49) | (51) | (44) | (37) | (28) | (19) |
| less working-capital build | — | (1) | (1) | (1) | (1) | (1) | |||
| Free cash flow to firm | 38 | 20 | (13) | — | 30 | 40 | 51 | 63 | 75 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 28 | 34 | 39 | 43 | 47 |
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 173, dividends at 0% of profit
| ₹ crore | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 63 | 65 | 68 | 71 | 74 | 77 |
| Interest at 8% on debt | (14) | (14) | (14) | (14) | (14) | |
| Profit before tax | 52 | 54 | 57 | 60 | 63 | |
| Profit after tax | 31 | 53 | 56 | 59 | 62 | 65 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 4 | 19 | 45 | 82 | 130 | 191 |
| Working capital | 13 | 14 | 14 | 15 | 16 | 16 |
| Net block and other assets | 397 | 434 | 464 | 486 | 498 | 502 |
| Debt | 173 | 173 | 173 | 173 | 173 | 173 |
| Equity | 59 | 113 | 169 | 227 | 289 | 354 |
| Balance check | 0 | (0) | 0 | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 67 | 70 | 73 | 77 | 80 | |
| Investing (capex) | (51) | (44) | (37) | (28) | (19) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 15 | 26 | 37 | 48 | 61 | |
| Free cash flow to equity | 15 | 26 | 37 | 48 | 61 | |
Other liabilities are held at their FY25 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% | 12.7% | 11.00% | 5% | ₹230 | (3.6)% |
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.