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Model Note · DYNEMIC PRODUCTS LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
DYNEMIC PRODUCTS LIMITED Discounted cash flow · base FY26
DYNEMIC PRODUCTS LIMITED
Value per share, this model₹245
CMP 2026-09-10₹231.80
Difference5.8%
Growth the CMP implies(3.8)%/yr
This note states the assumptions and the arithmetic of one model of DYNEMIC PRODUCTS LIMITED, 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
3% a year
FY26 3.0% · 5-yr CAGR 13.0%
EBITDA margin
13.9%
FY26 13.9% · 5-yr average 13.0%
Depreciation · capex, % of revenue
4.4% · 1.1%, fading to 1.2× depreciation
FY26 4.4% · 1.1%
Working capital, % of added revenue · tax
24.2% · 25.1%
88 working-capital days · effective 25.1%
Discount rate
11.00%
1-yr beta 0.75
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹72 · ₹0 · ₹0 cr
FY26 net debt ₹72 cr
Shares
1.24 crore
1.24 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
379
390
402
414
426
439
growth %
3.0
3.0
3.0
3.0
3.0
3.0
EBITDA
53
54
56
58
59
61
Depreciation
(17)
(17)
(18)
(18)
(19)
(19)
NOPAT
27
28
29
29
30
31
less capex
(4)
(4)
(9)
(13)
(18)
(23)
less working-capital build
—
(3)
(3)
(3)
(3)
(3)
Free cash flow to firm
—
38
35
32
28
24
Present value
36
30
24
19
15
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 · DYNEMIC PRODUCTS LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
125
PV of the terminal value (67% of EV)
252
Enterprise value
377
less net debt
(72)
less non-controlling interest
0
add non-operating investments
0
Equity value
305
÷ 1.24 crore shares
₹245
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
255
275
299
329
366
10.5%
233
250
270
293
323
11.0%
215
229
245
265
288
11.5%
199
211
225
241
260
12.0%
185
195
207
220
236
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
