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Model Note · DEEPAK FERTILIZERS & PETR · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
DEEPAK FERTILIZERS & PETR Discounted cash flow · base FY26
DEEPAK FERTILIZERS & PETR
Value per share, this model₹549
CMP 2026-09-10₹1,325.00
Difference(58.6)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of DEEPAK FERTILIZERS & PETR, 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
12% a year
FY26 12.0% · 5-yr CAGR 14.6%
EBITDA margin
14.6%
FY26 14.6% · 5-yr average 17.0%
Depreciation · capex, % of revenue
3.7% · 13.6%, fading to 1.2× depreciation
FY26 3.7% · 13.6%
Working capital, % of added revenue · tax
16.7% · 26.9%
61 working-capital days · effective 26.9%
Discount rate
11.00%
1-yr beta 1.6
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹5,088 · ₹0 · ₹0 cr
FY26 net debt ₹5,088 cr
Shares
12.62 crore
12.62 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
11,506
12,887
14,433
16,165
18,105
20,278
growth %
12.0
12.0
12.0
12.0
12.0
12.0
EBITDA
1,684
1,881
2,107
2,360
2,643
2,961
Depreciation
(424)
(477)
(534)
(598)
(670)
(750)
NOPAT
921
1,027
1,150
1,288
1,443
1,616
less capex
(1,570)
(1,753)
(1,632)
(1,458)
(1,218)
(900)
less working-capital build
—
(231)
(258)
(289)
(324)
(363)
Free cash flow to firm
—
(480)
(207)
139
570
1,103
Present value
(455)
(177)
107
396
690
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 · DEEPAK FERTILIZERS & PETR · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
560
PV of the terminal value (95% of EV)
11,453
Enterprise value
12,013
less net debt
(5,088)
less non-controlling interest
0
add non-operating investments
0
Equity value
6,925
÷ 12.62 crore shares
₹549
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
585
675
784
916
1,082
10.5%
491
566
655
762
892
11.0%
412
475
549
636
740
11.5%
343
397
459
531
617
12.0%
283
329
382
443
514
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
