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Model Note · ACUTAAS CHEMICALS LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
ACUTAAS CHEMICALS LIMITED Discounted cash flow · base FY26
ACUTAAS CHEMICALS LIMITED
Value per share, this model₹1,163
CMP 2026-09-10₹3,383.00
Difference(65.6)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of ACUTAAS CHEMICALS LIMITED, built on its filed FY26 consolidated statements. The value is the outcome of the assumptions below and nothing else; it is not a fair value, a target or a recommendation.
Assumptions
Input
This model
Filed reference
Revenue growth, 5 years
30% a year
FY26 33.0% · 5-yr CAGR —%
EBITDA margin
35.9%
FY26 35.9% · 5-yr average 22.5%
Depreciation · capex, % of revenue
2.7% · 24.5%, fading to 1.2× depreciation
FY26 2.7% · 24.5%
Working capital, % of added revenue · tax
32.8% · 26.2%
120 working-capital days · effective 26.2%
Discount rate
11.00%
1-yr beta 0.85
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(189) · ₹0 · ₹0 cr
FY26 net debt ₹(189) cr
Shares
8.19 crore
8.19 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY26
FY27
FY28
FY29
FY30
FY31
Revenue
1,339
1,741
2,264
2,943
3,825
4,973
growth %
33.0
30.0
30.0
30.0
30.0
30.0
EBITDA
480
625
813
1,056
1,373
1,785
Depreciation
(36)
(47)
(61)
(79)
(103)
(134)
NOPAT
328
427
555
721
937
1,218
less capex
(328)
(427)
(434)
(408)
(327)
(161)
less working-capital build
—
(132)
(171)
(223)
(290)
(376)
Free cash flow to firm
—
(85)
10
170
424
815
Present value
(80)
9
131
294
510
Source: the model; base year as filed.
Every figure is the reader's model over filed numbers · No rating, target or fair value is expressedmarketping.in
Model Note · ACUTAAS CHEMICALS LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
863
PV of the terminal value (91% of EV)
8,466
Enterprise value
9,329
less net debt
189
less non-controlling interest
0
add non-operating investments
0
Equity value
9,518
÷ 8.19 crore shares
₹1,163
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
1,204
1,307
1,431
1,582
1,771
10.5%
1,097
1,183
1,284
1,406
1,554
11.0%
1,006
1,078
1,163
1,262
1,381
11.5%
928
989
1,060
1,142
1,240
12.0%
859
912
972
1,042
1,123
Source: the model; n/a where terminal growth reaches the discount rate.
Statement
This note is the reader's own model over publicly filed information: SEBI results XBRL filed with BSE and NSE and exchange price data, assembled by MarketPing software; every assumption above is the reader's. It contains no research recommendation, no price target and no opinion by MarketPing on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Historical per-share figures are on the current share count. Where a figure is unavailable the table shows a dash rather than an estimate. Nothing here constitutes investment advice, an offer or a solicitation.
Every figure is the reader's model over filed numbers · No rating, target or fair value is expressedmarketping.in
