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 · IFB AGRO INDUSTRIES LTD · 9 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
IFB AGRO INDUSTRIES LTD Discounted cash flow · base FY26
IFB AGRO INDUSTRIES LTD
Value per share, this model₹125
CMP, 9 Oct 2026₹851.95
Difference(85.3)%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of IFB AGRO INDUSTRIES 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% a year
FY26 24.2% · 5-yr CAGR 2.4%
EBITDA margin
5.2%
FY26 5.2% · 5-yr average 3.0%
Depreciation · capex, % of revenue
1.8% · 1.3%, fading to 1.2× depreciation
FY26 1.8% · 1.3%
Working capital, % of added revenue · tax
10.7% · 30.1%
39 working-capital days · effective 30.1%
Discount rate
11.00%
1-yr beta 1.16
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(102) · ₹0 · ₹0 cr
FY26 net debt ₹(102) cr
Shares
0.94 crore
0.94 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
1,912
2,370
2,939
3,645
4,519
5,604
growth %
24.2
24.0
24.0
24.0
24.0
24.0
EBITDA
100
123
153
190
235
291
Depreciation
(35)
(43)
(53)
(66)
(81)
(101)
NOPAT
46
56
70
87
107
133
less capex
(24)
(31)
(45)
(63)
(88)
(121)
less working-capital build
—
(49)
(61)
(75)
(94)
(116)
Free cash flow to firm
—
19
17
14
7
(3)
Present value
18
15
11
5
(2)
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 · IFB AGRO INDUSTRIES LTD · 9 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
47
PV of the terminal value (-211% of EV)
(32)
Enterprise value
15
less net debt
102
less non-controlling interest
0
add non-operating investments
0
Equity value
117
÷ 0.94 crore shares
₹125
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
124
121
117
112
106
10.5%
127
125
121
117
112
11.0%
130
128
125
122
118
11.5%
132
130
128
125
122
12.0%
134
132
130
128
125
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
