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Model Note · M K PROTEINS LIMITED · 29 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
M K PROTEINS LIMITED Discounted cash flow · base FY26
M K PROTEINS LIMITED
Value per share, this model₹(22)
CMP, 28 Oct 2026₹3.67
Difference(701.1)%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of M K PROTEINS LIMITED, built on its filed FY26 standalone 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
30% a year
FY26 43.0% · 5-yr CAGR —%
EBITDA margin
3%
FY26 3.0% · 5-yr average 4.8%
Depreciation · capex, % of revenue
0.1% · 0.5%, fading to 1.2× depreciation
FY26 0.1% · 0.5%
Working capital, % of added revenue · tax
27.9% · 27.3%
102 working-capital days · effective 27.3%
Discount rate
11.00%
1-yr beta 1.27
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹36 · ₹0 · ₹0 cr
FY26 net debt ₹36 cr
Shares
37.54 crore
37.54 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
383
498
647
841
1,094
1,422
growth %
43.0
30.0
30.0
30.0
30.0
30.0
EBITDA
11
15
19
25
33
43
Depreciation
(0)
(0)
(1)
(1)
(1)
(1)
NOPAT
8
10
14
18
23
30
less capex
(2)
(2)
(3)
(3)
(2)
(2)
less working-capital build
—
(32)
(42)
(54)
(70)
(92)
Free cash flow to firm
—
(24)
(30)
(38)
(49)
(62)
Present value
(22)
(26)
(29)
(34)
(39)
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 · M K PROTEINS LIMITED · 29 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(150)
PV of the terminal value (—% of EV)
(642)
Enterprise value
(792)
less net debt
(36)
less non-controlling interest
0
add non-operating investments
0
Equity value
(828)
÷ 37.54 crore shares
₹(22)
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
(23)
(24)
(27)
(29)
(32)
10.5%
(21)
(22)
(24)
(26)
(29)
11.0%
(19)
(21)
(22)
(24)
(26)
11.5%
(18)
(19)
(20)
(22)
(23)
12.0%
(17)
(18)
(19)
(20)
(21)
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
