This note states the assumptions and the arithmetic of one model of COROMANDEL AGRO PRODUCTS & OIL, 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
-5% a year
FY26 (33.1)% · 5-yr CAGR (2.1)%
EBITDA margin
3.6%
FY26 3.6% · 5-yr average 2.5%
Depreciation · capex, % of revenue
0.4% · 0%, fading to 1.2× depreciation
FY26 0.4% · 0.0%
Working capital, % of added revenue · tax
42.7% · 25.3%
156 working-capital days · effective 25.3%
Discount rate
11.00%
1-yr beta —
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹16 · ₹0 · ₹0 cr
FY26 net debt ₹16 cr
Shares
0.08 crore
0.08 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
106
101
96
91
87
82
growth %
(33.1)
(5.0)
(5.0)
(5.0)
(5.0)
(5.0)
EBITDA
4
4
3
3
3
3
Depreciation
(0)
(0)
(0)
(0)
(0)
(0)
NOPAT
3
2
2
2
2
2
less capex
(0)
0
(0)
(0)
(0)
(0)
less working-capital build
—
2
2
2
2
2
Free cash flow to firm
—
5
5
4
4
4
Present value
5
4
3
3
2
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 · COROMANDEL AGRO PRODUCTS & OIL · 29 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
17
PV of the terminal value (69% of EV)
39
Enterprise value
56
less net debt
(16)
less non-controlling interest
0
add non-operating investments
0
Equity value
40
÷ 0.08 crore shares
₹511
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
533
582
641
713
803
10.5%
481
522
570
628
698
11.0%
436
470
511
558
615
11.5%
397
427
460
500
546
12.0%
364
389
417
451
489
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
