Models
PUDUMJEE PAPER PRO. LTDPDMJEPAPERPaper Forest & Jute Products
₹95per share · Base Model Note
Revenue growth, the horizon and scenarios are yours to change. Every other input is part of the Trader plan; saving, sharing a saved link and the live-formula workbook are part of the Institutional plan.
Scenario
Value per share, your model₹95implied FY26 P/E 9.9× · EV/EBITDA 7.3×
Against CMP ₹97.82−3.4%close of 2026-09-10
Growth the CMP implies1.3%revenue, a year for 5 years, on your other inputs
Value after FY3189%share of enterprise value in the terminal
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Where the methods land · ₹ per share · the dashed line is the CMP
DCF, rate ±1 · growth ±1your model across the sensitivity grid
₹70₹144
52-week rangetraded range, a fact not a value
₹65₹133
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 97 |
| PV of terminal value | 801 |
| Enterprise value | 898 |
| less net debt | 0 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 898 |
| ÷ 9.50 crore shares | ₹95 |
89% of the value sits after FY31. Usual when return on capital sits near the cost of capital; the 5 explicit years carry little of it.
Free cash flow, filed and modelled · ₹ '000 crore
Filed, cash from operations − capexModelled free cash flow to firm
Sensitivity · ₹ per share
Down Across| WACC ↓terminal growth → | 4.0% | 4.5% | 5.0% | 5.5% | 6.0% |
|---|---|---|---|---|---|
| 10.00% | 98 | 106 | 116 | 129 | 144 |
| 10.50% | 89 | 96 | 105 | 114 | 127 |
| 11.00% | 82 | 88 | 95 | 103 | 112 |
| 11.50% | 75 | 80 | 86 | 93 | 101 |
| 12.00% | 70 | 74 | 79 | 85 | 91 |
The outlined cell is your model. Green figures sit above the CMP of ₹97.82; n/a marks a terminal growth at or above the discount rate. Steps: WACC and terminal growth ±0.5 point, growth ±2, margin ±1.
Distribution of outcomes · 4,000 draws · growth, margin and the discount rate vary together
| 10th · 50th · 90th percentile, ₹ per share | 77 · 95 · 116 |
| Draws below the CMP | 58% |
| Rank correlation with discount rate | −0.70 |
| Rank correlation with ebitda margin | +0.69 |
| Rank correlation with revenue growth | −0.03 |
Each driver is drawn from a PERT distribution between the lowest and highest value across your scenarios (or ±50% growth, ±20% margin when there is one scenario), with the discount rate ±1.5 points. Seeded, so the same inputs give the same picture.
Projected cash flow to the firm · ₹ crore
History Forward| ₹ crore | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 759 | 785 | 809 | 808 | 808 | 808 | 808 | 808 | 808 |
| growth % | 36.6 | 3.5 | 3.1 | (0.1) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| EBITDA | 86 | 136 | 124 | 124 | 124 | 124 | 124 | 124 | 124 |
| margin % | 11.4 | 17.3 | 15.3 | 15.3 | 15.3 | 15.3 | 15.3 | 15.3 | 15.3 |
| less depreciation | (11) | (13) | (13) | (15) | (15) | (15) | (15) | (15) | (15) |
| EBIT | 75 | 123 | 111 | 108 | 108 | 108 | 108 | 108 | 108 |
| less tax on EBIT | (28) | (28) | (28) | (28) | (28) | (28) | |||
| NOPAT | 80 | 80 | 80 | 80 | 80 | 80 | |||
| add depreciation | 11 | 13 | 13 | 15 | 15 | 15 | 15 | 15 | 15 |
| less capex | (7) | (7) | (26) | (113) | (113) | (89) | (66) | (42) | (18) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | |||
| Free cash flow to firm | 9 | 125 | 56 | — | (18) | 6 | 30 | 53 | 77 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (17) | 5 | 23 | 37 | 48 |
History columns are the filed years (free cash flow there is cash from operations − capex, as filed); the base year and everything to its right come from the engine. Forward is the explicit horizon of the model itself: 3, 5 or 10 years, then flat.
The three statements, projected · ₹ crore · debt held at 23, dividends at 6.1% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 108 | 108 | 108 | 108 | 108 | 108 |
| Interest at 8% on debt | (2) | (2) | (2) | (2) | (2) | |
| Profit before tax | 106 | 106 | 106 | 106 | 106 | |
| Profit after tax | 94 | 79 | 79 | 79 | 79 | 79 |
| Dividends | (6) | (5) | (5) | (5) | (5) | (5) |
| Balance sheet, year end | ||||||
| Cash | 23 | (1) | (1) | 23 | 70 | 141 |
| Working capital | 142 | 142 | 142 | 142 | 142 | 142 |
| Net block and other assets | 756 | 854 | 928 | 978 | 1,005 | 1,008 |
| Debt | 23 | 23 | 23 | 23 | 23 | 23 |
| Equity | 669 | 744 | 818 | 892 | 966 | 1,040 |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 94 | 94 | 94 | 94 | 94 | |
| Investing (capex) | (113) | (89) | (66) | (42) | (18) | |
| Financing (dividends) | (5) | (5) | (5) | (5) | (5) | |
| Net change in cash | (24) | (0) | 24 | 47 | 71 | |
| Free cash flow to equity | (19) | 5 | 28 | 52 | 76 | |
Other liabilities are held at their FY26 level, so the check tests only what the model moves: cash, working capital, net block and other assets, debt and equity. A non-zero check would mean the three statements no longer tie.
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | DCF | 0% | 15.3% | 11.00% | 5% | ₹95 | (3.4)% |
A scenario is a full set of inputs under a name. Keep Base as the filed history carried forward; add Bull and Bear by saving the current inputs under those names and moving the two or three assumptions you actually hold a view on. The distribution above draws each driver between the lowest and highest value across your scenarios, so three scenarios give it a real range; with one scenario it falls back to fixed bands.