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Model Note · KANPUR PLASTIPACK LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
KANPUR PLASTIPACK LIMITED Discounted cash flow · base FY26
KANPUR PLASTIPACK LIMITED
Value per share, this model₹133
CMP 2026-09-10₹265.00
Difference(50.0)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of KANPUR PLASTIPACK 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
14.5% a year
FY26 14.3% · 5-yr CAGR 9.7%
EBITDA margin
9.1%
FY26 9.1% · 5-yr average 6.1%
Depreciation · capex, % of revenue
1.7% · 0%, fading to 1.2× depreciation
FY26 1.7% · 0.0%
Working capital, % of added revenue · tax
25% · 24.7%
91 working-capital days · effective 24.7%
Discount rate
11.00%
1-yr beta 1.44
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹106 · ₹0 · ₹0 cr
FY26 net debt ₹106 cr
Shares
2.45 crore
2.45 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
719
823
942
1,079
1,235
1,415
growth %
14.3
14.5
14.5
14.5
14.5
14.5
EBITDA
65
75
86
98
112
129
Depreciation
(12)
(14)
(16)
(18)
(21)
(24)
NOPAT
40
46
53
60
69
79
less capex
0
0
(5)
(11)
(19)
(29)
less working-capital build
—
(26)
(30)
(34)
(39)
(45)
Free cash flow to firm
—
34
34
33
32
29
Present value
32
29
26
22
18
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 · KANPUR PLASTIPACK LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
127
PV of the terminal value (70% of EV)
304
Enterprise value
431
less net debt
(106)
less non-controlling interest
0
add non-operating investments
0
Equity value
325
÷ 2.45 crore shares
₹133
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
138
150
165
183
206
10.5%
125
135
147
162
180
11.0%
114
122
133
144
159
11.5%
104
111
120
130
142
12.0%
96
102
109
118
127
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
