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 · PLASTIBLENDS INDIA LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
PLASTIBLENDS INDIA LTD Discounted cash flow · base FY26
PLASTIBLENDS INDIA LTD
Value per share, this model₹118
CMP 2026-09-10₹192.00
Difference(38.5)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of PLASTIBLENDS INDIA 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
1% a year
FY26 1.1% · 5-yr CAGR 6.4%
EBITDA margin
6.7%
FY26 6.7% · 5-yr average 7.0%
Depreciation · capex, % of revenue
1.9% · 3.5%, fading to 1.2× depreciation
FY26 1.9% · 3.5%
Working capital, % of added revenue · tax
31.7% · 24.8%
116 working-capital days · effective 24.8%
Discount rate
11.00%
1-yr beta 1.1
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹15 · ₹0 · ₹0 cr
FY26 net debt ₹15 cr
Shares
2.60 crore
2.60 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
789
797
805
813
821
829
growth %
1.1
1.0
1.0
1.0
1.0
1.0
EBITDA
53
53
54
54
55
56
Depreciation
(15)
(15)
(15)
(15)
(16)
(16)
NOPAT
29
29
29
29
30
30
less capex
(28)
(28)
(26)
(23)
(21)
(19)
less working-capital build
—
(3)
(3)
(3)
(3)
(3)
Free cash flow to firm
—
14
16
19
21
24
Present value
13
14
14
15
15
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 · PLASTIBLENDS INDIA LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
71
PV of the terminal value (78% of EV)
251
Enterprise value
322
less net debt
(15)
less non-controlling interest
0
add non-operating investments
0
Equity value
307
÷ 2.60 crore shares
₹118
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
122
132
143
158
175
10.5%
112
120
130
141
155
11.0%
104
110
118
127
139
11.5%
96
102
108
116
125
12.0%
90
94
100
107
114
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
