The note is the current scenario (Base). Download PDF renders this page on the server, fonts and colours exact; Print uses the browser.
Model Note · DAI-ICHI KARKARIA LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
DAI-ICHI KARKARIA LTD. Discounted cash flow · base FY26
DAI-ICHI KARKARIA LTD.
Value per share, this model₹(93)
CMP 2026-09-10₹337.05
Difference(127.5)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of DAI-ICHI KARKARIA 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
-5% a year
FY26 (11.1)% · 5-yr CAGR 10.6%
EBITDA margin
2%
FY26 2.0% · 5-yr average 6.7%
Depreciation · capex, % of revenue
6.3% · 5.8%, fading to 1.2× depreciation
FY26 6.3% · 5.8%
Working capital, % of added revenue · tax
20.6% · 25.17%
75 working-capital days · effective 25.2%
Discount rate
11.00%
1-yr beta 0.89
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹12 · ₹0 · ₹0 cr
FY26 net debt ₹12 cr
Shares
0.75 crore
0.75 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
161
153
146
138
131
125
growth %
(11.1)
(5.0)
(5.0)
(5.0)
(5.0)
(5.0)
EBITDA
3
3
3
3
3
2
Depreciation
(10)
(10)
(9)
(9)
(8)
(8)
NOPAT
(5)
(5)
(5)
(4)
(4)
(4)
less capex
(9)
(9)
(9)
(9)
(9)
(9)
less working-capital build
—
2
2
1
1
1
Free cash flow to firm
—
(3)
(3)
(3)
(4)
(4)
Present value
(2)
(3)
(3)
(3)
(3)
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 · DAI-ICHI KARKARIA LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(13)
PV of the terminal value (—% of EV)
(44)
Enterprise value
(57)
less net debt
(12)
less non-controlling interest
0
add non-operating investments
0
Equity value
(69)
÷ 0.75 crore shares
₹(93)
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
(95)
(101)
(108)
(117)
(127)
10.5%
(89)
(94)
(100)
(107)
(115)
11.0%
(84)
(88)
(93)
(98)
(105)
11.5%
(79)
(83)
(87)
(91)
(97)
12.0%
(75)
(78)
(82)
(85)
(90)
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
