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 · KPT INDUSTRIES LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
KPT INDUSTRIES LIMITED Discounted cash flow · base FY20
KPT INDUSTRIES LIMITED
Value per share, this model₹457
CMP 2026-09-10₹460.45
Difference(0.8)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of KPT INDUSTRIES LIMITED, built on its filed FY20 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
8% a year
FY20 —% · 5-yr CAGR —%
EBITDA margin
14.9%
FY20 14.9% · 5-yr average 14.9%
Depreciation · capex, % of revenue
2.8% · 0%, fading to 1.2× depreciation
FY20 2.8% · 0.0%
Working capital, % of added revenue · tax
44.5% · -1.8%
162 working-capital days · effective (1.8)%
Discount rate
11.00%
1-yr beta 1.35
After FY25
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹34 · ₹0 · ₹0 cr
FY20 net debt ₹34 cr
Shares
0.34 crore
0.34 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY20
FY21
FY22
FY23
FY24
FY25
Revenue
106
114
124
133
144
156
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
16
17
18
20
21
23
Depreciation
(3)
(3)
(3)
(4)
(4)
(4)
NOPAT
13
14
15
16
18
19
less capex
0
0
(1)
(2)
(4)
(5)
less working-capital build
—
(4)
(4)
(4)
(5)
(5)
Free cash flow to firm
—
14
14
14
13
13
Present value
13
12
10
9
8
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 · KPT INDUSTRIES LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
52
PV of the terminal value (72% of EV)
137
Enterprise value
189
less net debt
(34)
less non-controlling interest
0
add non-operating investments
0
Equity value
155
÷ 0.34 crore shares
₹457
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
474
515
563
621
695
10.5%
432
465
505
552
610
11.0%
396
424
457
495
542
11.5%
364
388
416
448
486
12.0%
337
357
381
408
440
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
