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Model Note · I G PETROCHEMICALS LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
I G PETROCHEMICALS LTD Discounted cash flow · base FY26
I G PETROCHEMICALS LTD
Value per share, this model₹(156)
CMP 2026-09-10₹549.50
Difference(128.5)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of I G PETROCHEMICALS 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
-5% a year
FY26 (12.7)% · 5-yr CAGR 11.4%
EBITDA margin
4.9%
FY26 4.9% · 5-yr average 11.0%
Depreciation · capex, % of revenue
3.6% · 8.5%, fading to 1.2× depreciation
FY26 3.6% · 8.5%
Working capital, % of added revenue · tax
8.8% · 78.7%
32 working-capital days · effective 78.7%
Discount rate
11.00%
1-yr beta 1.14
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹329 · ₹0 · ₹0 cr
FY26 net debt ₹329 cr
Shares
3.08 crore
3.08 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
1,925
1,829
1,737
1,650
1,568
1,490
growth %
(12.7)
(5.0)
(5.0)
(5.0)
(5.0)
(5.0)
EBITDA
95
90
85
81
77
73
Depreciation
(69)
(66)
(63)
(59)
(56)
(54)
NOPAT
5
5
5
5
4
4
less capex
(163)
(155)
(130)
(106)
(84)
(64)
less working-capital build
—
8
8
8
7
7
Free cash flow to firm
—
(76)
(54)
(34)
(16)
0
Present value
(72)
(46)
(26)
(11)
0
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 · I G PETROCHEMICALS LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(156)
PV of the terminal value (—% of EV)
3
Enterprise value
(153)
less net debt
(329)
less non-controlling interest
0
add non-operating investments
0
Equity value
(482)
÷ 3.08 crore shares
₹(156)
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
(157)
(157)
(157)
(157)
(156)
10.5%
(157)
(157)
(157)
(156)
(156)
11.0%
(157)
(156)
(156)
(156)
(156)
11.5%
(156)
(156)
(156)
(156)
(156)
12.0%
(156)
(156)
(156)
(156)
(156)
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
