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Model Note · BAJAJ CONSUMER CARE LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
BAJAJ CONSUMER CARE LTD Discounted cash flow · base FY26
BAJAJ CONSUMER CARE LTD
Value per share, this model₹378
CMP 2026-09-10₹522.50
Difference(27.6)%
Growth the CMP implies30.3%/yr
This note states the assumptions and the arithmetic of one model of BAJAJ CONSUMER CARE 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
20.5% a year
FY26 20.7% · 5-yr CAGR 4.8%
EBITDA margin
19%
FY26 19.0% · 5-yr average 16.5%
Depreciation · capex, % of revenue
1.3% · 2.8%, fading to 1.2× depreciation
FY26 1.3% · 2.8%
Working capital, % of added revenue · tax
8.5% · 17.8%
31 working-capital days · effective 17.8%
Discount rate
11.00%
1-yr beta 1.23
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(22) · ₹0 · ₹0 cr
FY26 net debt ₹(22) cr
Shares
13.06 crore
13.06 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
1,165
1,403
1,691
2,038
2,456
2,959
growth %
20.7
20.5
20.5
20.5
20.5
20.5
EBITDA
221
267
321
387
467
562
Depreciation
(15)
(18)
(22)
(26)
(32)
(38)
NOPAT
169
204
246
297
357
431
less capex
(33)
(39)
(42)
(44)
(46)
(46)
less working-capital build
—
(20)
(24)
(29)
(36)
(43)
Free cash flow to firm
—
163
201
249
308
380
Present value
155
172
192
214
238
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 · BAJAJ CONSUMER CARE LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
970
PV of the terminal value (80% of EV)
3,947
Enterprise value
4,917
less net debt
22
less non-controlling interest
0
add non-operating investments
0
Equity value
4,939
÷ 13.06 crore shares
₹378
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
391
421
457
501
557
10.5%
359
384
414
450
493
11.0%
332
354
378
407
442
11.5%
309
327
348
372
400
12.0%
289
304
322
342
366
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
