Demand charge saving = peak reduction (kVA) × demand charge (₹/kVA/month). This assumes the battery reliably discharges across every interval that would otherwise set the monthly maximum — which is a question about your load profile, not about the battery.
Arbitrage = energy shifted × (peak rate − off-peak rate ÷ efficiency) × operating days. Efficiency is applied to charging, because delivering 1 kWh at peak means buying rather more than 1 kWh off-peak. If your spread is narrow, this term can be zero or negative, and the calculator will say so.
Not included: avoided diesel, power-factor and ToD incentives, avoided production loss during outages, or any degradation of the pack over its life. The first three make the case better; the last makes it slightly worse.