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Model Note · NAVIN FLUORINE INT. LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
NAVIN FLUORINE INT. LTD Discounted cash flow · base FY26
NAVIN FLUORINE INT. LTD
Value per share, this model₹4,321
CMP 2026-09-10₹8,545.00
Difference(49.4)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of NAVIN FLUORINE INT. 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
30% a year
FY26 41.1% · 5-yr CAGR 23.0%
EBITDA margin
32.4%
FY26 32.4% · 5-yr average 25.6%
Depreciation · capex, % of revenue
4.5% · 14.6%, fading to 1.2× depreciation
FY26 4.5% · 14.6%
Working capital, % of added revenue · tax
20.2% · 24%
74 working-capital days · effective 24.0%
Discount rate
11.00%
1-yr beta 0.82
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹1,204 · ₹0 · ₹0 cr
FY26 net debt ₹1,204 cr
Shares
5.13 crore
5.13 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
3,314
4,308
5,600
7,281
9,465
12,304
growth %
41.1
30.0
30.0
30.0
30.0
30.0
EBITDA
1,075
1,396
1,815
2,359
3,067
3,987
Depreciation
(149)
(194)
(252)
(328)
(426)
(554)
NOPAT
704
913
1,188
1,544
2,007
2,609
less capex
(485)
(629)
(689)
(728)
(729)
(664)
less working-capital build
—
(201)
(261)
(339)
(441)
(574)
Free cash flow to firm
—
278
490
804
1,263
1,925
Present value
263
419
619
876
1,203
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 · NAVIN FLUORINE INT. LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
3,381
PV of the terminal value (86% of EV)
19,989
Enterprise value
23,370
less net debt
(1,204)
less non-controlling interest
0
add non-operating investments
0
Equity value
22,166
÷ 5.13 crore shares
₹4,321
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
4,482
4,870
5,336
5,905
6,617
10.5%
4,078
4,400
4,782
5,239
5,798
11.0%
3,732
4,004
4,321
4,695
5,145
11.5%
3,434
3,665
3,932
4,243
4,611
12.0%
3,173
3,372
3,599
3,861
4,167
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
