Models
WOCKHARDT LIMITEDWOCKPHARMAPharmaceuticals & Biotechnology
₹113per 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₹113implied FY26 P/E 4.5× · EV/EBITDA 6.6×
Against CMP ₹2,175.30−94.8%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
₹65₹208
52-week rangetraded range, a fact not a value
₹1,087₹2,422
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,134 |
| PV of terminal value | 2,599 |
| Enterprise value | 3,734 |
| less net debt | (1,908) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,826 |
| ÷ 16.20 crore shares | ₹113 |
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% | 120 | 136 | 155 | 179 | 208 |
| 10.50% | 103 | 116 | 132 | 151 | 174 |
| 11.00% | 88 | 100 | 113 | 128 | 147 |
| 11.50% | 76 | 85 | 96 | 109 | 124 |
| 12.00% | 65 | 73 | 82 | 93 | 106 |
The outlined cell is your model. Green figures sit above the CMP of ₹2,175.30; 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 | 37 · 110 · 187 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.93 |
| Rank correlation with discount rate | −0.31 |
| Rank correlation with revenue growth | −0.09 |
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 | 2,651 | 2,798 | 3,012 | 3,373 | 3,778 | 4,231 | 4,739 | 5,307 | 5,944 |
| growth % | (17.9) | 5.5 | 7.6 | 12.0 | 12.0 | 12.0 | 12.0 | 12.0 | 12.0 |
| EBITDA | (193) | 25 | 393 | 567 | 635 | 711 | 796 | 892 | 999 |
| margin % | (7.3) | 0.9 | 13.0 | 16.8 | 16.8 | 16.8 | 16.8 | 16.8 | 16.8 |
| less depreciation | (251) | (223) | (217) | (227) | (253) | (283) | (318) | (356) | (398) |
| EBIT | (444) | (198) | 176 | 340 | 382 | 427 | 479 | 536 | 600 |
| less tax on EBIT | (56) | (63) | (70) | (78) | (88) | (98) | |||
| NOPAT | 284 | 319 | 357 | 400 | 448 | 502 | |||
| add depreciation | 251 | 223 | 217 | 227 | 253 | 283 | 318 | 356 | 398 |
| less capex | (42) | (59) | (94) | (136) | (151) | (212) | (285) | (373) | (478) |
| less working-capital build | — | (109) | (122) | (137) | (154) | (172) | |||
| Free cash flow to firm | 111 | 160 | (116) | — | 312 | 306 | 295 | 277 | 250 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 296 | 262 | 227 | 192 | 156 |
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 2,125, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 340 | 382 | 427 | 479 | 536 | 600 |
| Interest at 10.7% on debt | (227) | (227) | (227) | (227) | (227) | |
| Profit before tax | 154 | 200 | 251 | 309 | 373 | |
| Profit after tax | 213 | 129 | 167 | 210 | 258 | 312 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 217 | 339 | 455 | 560 | 647 | 707 |
| Working capital | 912 | 1,021 | 1,144 | 1,281 | 1,434 | 1,606 |
| Net block and other assets | 7,486 | 7,384 | 7,312 | 7,280 | 7,298 | 7,377 |
| Debt | 2,125 | 2,125 | 2,125 | 2,125 | 2,125 | 2,125 |
| Equity | 5,281 | 5,410 | 5,577 | 5,787 | 6,045 | 6,357 |
| Balance check | 0 | 0 | (0) | 0 | (0) | 0 |
| Cash flow | ||||||
| From operations | 273 | 328 | 390 | 460 | 538 | |
| Investing (capex) | (151) | (212) | (285) | (373) | (478) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 122 | 116 | 105 | 87 | 60 | |
| Free cash flow to equity | 122 | 116 | 105 | 87 | 60 | |
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 | 12% | 16.8% | 11.00% | 5% | ₹113 | (94.8)% |
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.