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 · FOSECO CRUCIBLE INDIA LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
FOSECO CRUCIBLE INDIA LIMITED Discounted cash flow · base FY26
FOSECO CRUCIBLE INDIA LIMITED
Value per share, this model₹335
CMP 2026-09-10₹1,966.00
Difference(82.9)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of FOSECO CRUCIBLE INDIA 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
-1.5% a year
FY26 (1.3)% · 5-yr CAGR 10.0%
EBITDA margin
15.8%
FY26 15.8% · 5-yr average 19.6%
Depreciation · capex, % of revenue
6.8% · 0%, fading to 1.2× depreciation
FY26 6.8% · 0.0%
Working capital, % of added revenue · tax
18.1% · 29.2%
66 working-capital days · effective 29.2%
Discount rate
11.00%
1-yr beta 0.76
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(37) · ₹0 · ₹0 cr
FY26 net debt ₹(37) cr
Shares
0.56 crore
0.56 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
172
169
167
164
162
159
growth %
(1.3)
(1.5)
(1.5)
(1.5)
(1.5)
(1.5)
EBITDA
27
27
26
26
26
25
Depreciation
(12)
(12)
(11)
(11)
(11)
(11)
NOPAT
11
11
11
10
10
10
less capex
0
0
(3)
(7)
(10)
(13)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
23
19
15
12
8
Present value
22
16
12
8
5
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 · FOSECO CRUCIBLE INDIA LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
63
PV of the terminal value (58% of EV)
88
Enterprise value
151
less net debt
37
less non-controlling interest
0
add non-operating investments
0
Equity value
188
÷ 0.56 crore shares
₹335
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
343
358
377
400
429
10.5%
326
339
354
373
395
11.0%
312
323
335
350
368
11.5%
299
308
319
332
346
12.0%
288
296
305
316
328
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
