Models
WHIRLPOOL OF INDIA LTDWHIRLPOOLConsumer Durables
₹205per 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₹205implied FY26 P/E 10.4× · EV/EBITDA 4.4×
Against CMP ₹763.25−73.2%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3175%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
₹170₹274
52-week rangetraded range, a fact not a value
₹751₹1,437
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 505 |
| PV of terminal value | 1,479 |
| Enterprise value | 1,984 |
| less net debt | 615 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,599 |
| ÷ 12.69 crore shares | ₹205 |
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% | 210 | 222 | 236 | 253 | 274 |
| 10.50% | 198 | 207 | 219 | 232 | 249 |
| 11.00% | 187 | 195 | 205 | 216 | 229 |
| 11.50% | 178 | 185 | 193 | 202 | 213 |
| 12.00% | 170 | 176 | 183 | 191 | 200 |
The outlined cell is your model. Green figures sit above the CMP of ₹763.25; 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 | 161 · 204 · 250 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.90 |
| Rank correlation with discount rate | −0.39 |
| Rank correlation with revenue growth | +0.00 |
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 | 6,668 | 6,830 | 7,919 | 8,034 | 8,155 | 8,277 | 8,401 | 8,527 | 8,655 |
| growth % | 7.6 | 2.4 | 16.0 | 1.4 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 |
| EBITDA | 370 | 384 | 557 | 452 | 457 | 464 | 470 | 478 | 485 |
| margin % | 5.6 | 5.6 | 7.0 | 5.6 | 5.6 | 5.6 | 5.6 | 5.6 | 5.6 |
| less depreciation | (185) | (210) | (213) | (209) | (212) | (215) | (218) | (222) | (225) |
| EBIT | 185 | 174 | 344 | 243 | 245 | 248 | 252 | 256 | 260 |
| less tax on EBIT | (62) | (62) | (63) | (64) | (65) | (66) | |||
| NOPAT | 181 | 182 | 185 | 188 | 191 | 193 | |||
| add depreciation | 185 | 210 | 213 | 209 | 212 | 215 | 218 | 222 | 225 |
| less capex | (181) | (66) | (120) | (263) | (269) | (269) | (270) | (270) | (270) |
| less working-capital build | — | (6) | (6) | (6) | (6) | (6) | |||
| Free cash flow to firm | 89 | 544 | 451 | — | 120 | 125 | 131 | 136 | 142 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 113 | 107 | 101 | 95 | 89 |
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 21.6% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 243 | 245 | 248 | 252 | 256 | 260 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 245 | 248 | 252 | 256 | 260 | |
| Profit after tax | 294 | 182 | 185 | 188 | 191 | 193 |
| Dividends | (63) | (39) | (40) | (41) | (41) | (42) |
| Balance sheet, year end | ||||||
| Cash | 615 | 695 | 780 | 870 | 966 | 1,066 |
| Working capital | 376 | 382 | 388 | 394 | 400 | 406 |
| Net block and other assets | 6,393 | 6,450 | 6,504 | 6,556 | 6,604 | 6,649 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 4,161 | 4,304 | 4,449 | 4,596 | 4,745 | 4,897 |
| Balance check | 0 | 0 | 0 | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 389 | 394 | 400 | 406 | 412 | |
| Investing (capex) | (269) | (269) | (270) | (270) | (270) | |
| Financing (dividends) | (39) | (40) | (41) | (41) | (42) | |
| Net change in cash | 80 | 85 | 90 | 95 | 101 | |
| Free cash flow to equity | 120 | 125 | 131 | 136 | 142 | |
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 | 1.5% | 5.6% | 11.00% | 5% | ₹205 | (73.2)% |
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.