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Model Note · DDEV PLASTIKS IND LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
DDEV PLASTIKS IND LTD Discounted cash flow · base FY26
DDEV PLASTIKS IND LTD
Value per share, this model₹267
CMP 2026-09-10₹256.00
Difference4.4%
Growth the CMP implies(0.2)%/yr
This note states the assumptions and the arithmetic of one model of DDEV PLASTIKS IND 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
13% a year
FY26 13.2% · 5-yr CAGR —%
EBITDA margin
9.7%
FY26 9.7% · 5-yr average 9.3%
Depreciation · capex, % of revenue
0.6% · 2.5%, fading to 1.2× depreciation
FY26 0.6% · 2.5%
Working capital, % of added revenue · tax
22.5% · 26.2%
82 working-capital days · effective 26.2%
Discount rate
11.00%
1-yr beta 1.21
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹9 · ₹0 · ₹0 cr
FY26 net debt ₹9 cr
Shares
10.35 crore
10.35 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
2,948
3,331
3,764
4,253
4,806
5,431
growth %
13.2
13.0
13.0
13.0
13.0
13.0
EBITDA
287
323
365
413
466
527
Depreciation
(18)
(20)
(23)
(26)
(29)
(33)
NOPAT
198
224
253
286
323
365
less capex
(73)
(83)
(77)
(68)
(56)
(39)
less working-capital build
—
(86)
(97)
(110)
(124)
(141)
Free cash flow to firm
—
74
101
133
171
218
Present value
70
86
102
119
136
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 · DDEV PLASTIKS IND LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
513
PV of the terminal value (81% of EV)
2,260
Enterprise value
2,774
less net debt
(9)
less non-controlling interest
0
add non-operating investments
0
Equity value
2,765
÷ 10.35 crore shares
₹267
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
276
298
324
356
396
10.5%
254
272
293
319
350
11.0%
234
249
267
288
313
11.5%
217
230
245
263
283
12.0%
203
214
227
241
258
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
