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Model Note · ASIAN PETROPRODUCTS & EXPORTS · 29 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
ASIAN PETROPRODUCTS & EXPORTS Discounted cash flow · base FY26
ASIAN PETROPRODUCTS & EXPORTS
Value per share, this model₹1
CMP, 28 Oct 2026₹9.31
Difference(92.0)%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of ASIAN PETROPRODUCTS & EXPORTS, built on its filed FY26 standalone 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 62.0% · 5-yr CAGR 159.7%
EBITDA margin
-0.1%
FY26 (0.1)% · 5-yr average (34.9)%
Depreciation · capex, % of revenue
0% · 0%, fading to 1.2× depreciation
FY26 0.0% · 0.0%
Working capital, % of added revenue · tax
0% · 0.8%
-94 working-capital days · effective 0.8%
Discount rate
11.00%
1-yr beta 0.44
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(5) · ₹0 · ₹0 cr
FY26 net debt ₹(5) cr
Shares
2.46 crore
2.46 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
68
88
114
148
193
251
growth %
62.0
30.0
30.0
30.0
30.0
30.0
EBITDA
(0)
(0)
(0)
(0)
(0)
(0)
Depreciation
(0)
0
0
0
0
0
NOPAT
(0)
(0)
(0)
(0)
(0)
(0)
less capex
(0)
0
0
0
0
0
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
(0)
(0)
(0)
(0)
(0)
Present value
(0)
(0)
(0)
(0)
(0)
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 · ASIAN PETROPRODUCTS & EXPORTS · 29 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(1)
PV of the terminal value (—% of EV)
(3)
Enterprise value
(3)
less net debt
5
less non-controlling interest
0
add non-operating investments
0
Equity value
2
÷ 2.46 crore shares
₹1
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
1
1
0
0
0
10.5%
1
1
1
0
0
11.0%
1
1
1
1
1
11.5%
1
1
1
1
1
12.0%
1
1
1
1
1
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
