This note states the assumptions and the arithmetic of one model of NEWTRAC FOODS & BEVERAGES LIMI, 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
-5% a year
FY26 (74.5)% · 5-yr CAGR —%
EBITDA margin
-43.5%
FY26 (43.5)% · 5-yr average (10.7)%
Depreciation · capex, % of revenue
0% · 0%, fading to 1.2× depreciation
FY26 0.0% · 0.0%
Working capital, % of added revenue · tax
20.3% · 25.17%
74 working-capital days · effective 25.2%
Discount rate
11.00%
1-yr beta 1.15
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹2 · ₹0 · ₹0 cr
FY26 net debt ₹2 cr
Shares
1.92 crore
1.92 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
16
16
15
14
13
13
growth %
(74.5)
(5.0)
(5.0)
(5.0)
(5.0)
(5.0)
EBITDA
(7)
(7)
(6)
(6)
(6)
(5)
Depreciation
(0)
0
0
0
0
0
NOPAT
(5)
(5)
(5)
(5)
(4)
(4)
less capex
0
0
0
0
0
0
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
(5)
(5)
(4)
(4)
(4)
Present value
(5)
(4)
(3)
(3)
(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 · NEWTRAC FOODS & BEVERAGES LIMI · 12 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(17)
PV of the terminal value (—% of EV)
(41)
Enterprise value
(59)
less net debt
(2)
less non-controlling interest
0
add non-operating investments
0
Equity value
(61)
÷ 1.92 crore shares
₹(32)
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
(33)
(35)
(37)
(40)
(44)
10.5%
(30)
(32)
(34)
(37)
(40)
11.0%
(28)
(30)
(32)
(34)
(36)
11.5%
(27)
(28)
(29)
(31)
(33)
12.0%
(25)
(26)
(28)
(29)
(31)
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
