Models
WELSPUN LIVING LIMITEDWELSPUNLIVTextiles & Apparels
₹20per 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₹20implied FY26 P/E 7.0× · EV/EBITDA 4.6×
Against CMP ₹208.14−90.2%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3170%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
₹13₹36
52-week rangetraded range, a fact not a value
₹107₹216
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,094 |
| PV of terminal value | 2,495 |
| Enterprise value | 3,589 |
| less net debt | (1,664) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,925 |
| ÷ 94.47 crore shares | ₹20 |
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% | 22 | 24 | 27 | 31 | 36 |
| 10.50% | 19 | 21 | 24 | 27 | 30 |
| 11.00% | 16 | 18 | 20 | 23 | 26 |
| 11.50% | 14 | 16 | 18 | 20 | 22 |
| 12.00% | 13 | 14 | 15 | 17 | 19 |
The outlined cell is your model. Green figures sit above the CMP of ₹208.14; 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 | 13 · 20 · 29 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.84 |
| Rank correlation with discount rate | −0.52 |
| 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 | 8,094 | 9,679 | 10,545 | 9,399 | 8,929 | 8,483 | 8,059 | 7,656 | 7,273 |
| growth % | (13.1) | 19.6 | 8.9 | (10.9) | (5.0) | (5.0) | (5.0) | (5.0) | (5.0) |
| EBITDA | 753 | 1,369 | 1,299 | 774 | 732 | 696 | 661 | 628 | 596 |
| margin % | 9.3 | 14.1 | 12.3 | 8.2 | 8.2 | 8.2 | 8.2 | 8.2 | 8.2 |
| less depreciation | (442) | (394) | (373) | (394) | (375) | (356) | (338) | (322) | (305) |
| EBIT | 310 | 974 | 925 | 380 | 357 | 339 | 322 | 306 | 291 |
| less tax on EBIT | (98) | (93) | (88) | (83) | (79) | (75) | |||
| NOPAT | 282 | 265 | 251 | 239 | 227 | 216 | |||
| add depreciation | 442 | 394 | 373 | 394 | 375 | 356 | 338 | 322 | 305 |
| less capex | (275) | (275) | (713) | (451) | (429) | (412) | (396) | (381) | (367) |
| less working-capital build | — | 105 | 100 | 95 | 90 | 86 | |||
| Free cash flow to firm | 481 | 257 | (25) | — | 316 | 295 | 276 | 257 | 240 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 300 | 253 | 212 | 179 | 150 |
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 1,802, dividends at 100% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 380 | 357 | 339 | 322 | 306 | 291 |
| Interest at 7.6% on debt | (137) | (137) | (137) | (137) | (137) | |
| Profit before tax | 220 | 202 | 185 | 169 | 154 | |
| Profit after tax | 204 | 163 | 150 | 137 | 125 | 114 |
| Dividends | (208) | (163) | (150) | (137) | (125) | (114) |
| Balance sheet, year end | ||||||
| Cash | 138 | 190 | 234 | 271 | 301 | 326 |
| Working capital | 2,106 | 2,001 | 1,901 | 1,806 | 1,716 | 1,630 |
| Net block and other assets | 8,211 | 8,264 | 8,320 | 8,378 | 8,438 | 8,499 |
| Debt | 1,802 | 1,802 | 1,802 | 1,802 | 1,802 | 1,802 |
| Equity | 4,978 | 4,978 | 4,978 | 4,978 | 4,978 | 4,978 |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 643 | 606 | 571 | 537 | 505 | |
| Investing (capex) | (429) | (412) | (396) | (381) | (367) | |
| Financing (dividends) | (163) | (150) | (137) | (125) | (114) | |
| Net change in cash | 52 | 44 | 37 | 31 | 25 | |
| Free cash flow to equity | 215 | 194 | 174 | 156 | 139 | |
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 | -5% | 8.2% | 11.00% | 5% | ₹20 | (90.2)% |
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.