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 · GALAXY SURFACTANTS LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
GALAXY SURFACTANTS LTD Discounted cash flow · base FY26
GALAXY SURFACTANTS LTD
Value per share, this model₹812
CMP 2026-09-10₹2,189.00
Difference(62.9)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of GALAXY SURFACTANTS 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
24.5% a year
FY26 24.3% · 5-yr CAGR 13.5%
EBITDA margin
8.8%
FY26 8.8% · 5-yr average 11.2%
Depreciation · capex, % of revenue
2.3% · 2.6%, fading to 1.2× depreciation
FY26 2.3% · 2.6%
Working capital, % of added revenue · tax
17% · 19.4%
62 working-capital days · effective 19.4%
Discount rate
11.00%
1-yr beta 1
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹55 · ₹0 · ₹0 cr
FY26 net debt ₹55 cr
Shares
3.55 crore
3.55 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
5,248
6,534
8,135
10,128
12,609
15,699
growth %
24.3
24.5
24.5
24.5
24.5
24.5
EBITDA
463
575
716
891
1,110
1,381
Depreciation
(123)
(150)
(187)
(233)
(290)
(361)
NOPAT
274
342
426
531
661
822
less capex
(137)
(170)
(215)
(271)
(343)
(433)
less working-capital build
—
(219)
(272)
(339)
(422)
(525)
Free cash flow to firm
—
104
126
153
186
225
Present value
99
108
118
129
141
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 · GALAXY SURFACTANTS LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
595
PV of the terminal value (80% of EV)
2,337
Enterprise value
2,932
less net debt
(55)
less non-controlling interest
0
add non-operating investments
0
Equity value
2,877
÷ 3.55 crore shares
₹812
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
840
905
984
1,081
1,201
10.5%
771
825
890
967
1,062
11.0%
712
758
812
875
951
11.5%
661
700
745
798
860
12.0%
617
650
689
733
785
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
