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Model Note · ALUFLUORIDE LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
ALUFLUORIDE LTD. Discounted cash flow · base FY26
ALUFLUORIDE LTD.
Value per share, this model₹564
CMP 2026-09-10₹486.30
Difference16.0%
Growth the CMP implies6.6%/yr
This note states the assumptions and the arithmetic of one model of ALUFLUORIDE LTD., 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
10.5% a year
FY26 10.7% · 5-yr CAGR —%
EBITDA margin
21.5%
FY26 21.5% · 5-yr average 18.7%
Depreciation · capex, % of revenue
4.6% · 8.5%, fading to 1.2× depreciation
FY26 4.6% · 8.5%
Working capital, % of added revenue · tax
9.3% · 26.5%
34 working-capital days · effective 26.5%
Discount rate
11.00%
1-yr beta —
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹37 · ₹0 · ₹0 cr
FY26 net debt ₹37 cr
Shares
0.78 crore
0.78 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
209
231
255
282
311
344
growth %
10.7
10.5
10.5
10.5
10.5
10.5
EBITDA
45
50
55
61
67
74
Depreciation
(10)
(11)
(12)
(13)
(14)
(16)
NOPAT
26
29
32
35
39
43
less capex
(18)
(20)
(20)
(20)
(19)
(19)
less working-capital build
—
(2)
(2)
(2)
(3)
(3)
Free cash flow to firm
—
18
21
26
31
37
Present value
17
18
20
21
23
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 · ALUFLUORIDE LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
99
PV of the terminal value (79% of EV)
379
Enterprise value
478
less net debt
(37)
less non-controlling interest
0
add non-operating investments
0
Equity value
441
÷ 0.78 crore shares
₹564
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
585
633
691
762
851
10.5%
534
574
622
679
748
11.0%
491
525
564
611
667
11.5%
453
482
515
554
600
12.0%
421
445
474
506
544
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
