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Model Note · PUDUMJEE PAPER PRO. LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
PUDUMJEE PAPER PRO. LTD
Discounted cash flow · base FY26

PUDUMJEE PAPER PRO. LTD

Value per share, this model95
CMP 2026-09-1097.82
Difference(3.4)%
Growth the CMP implies1.3%/yr

This note states the assumptions and the arithmetic of one model of PUDUMJEE PAPER PRO. 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

InputThis modelFiled reference
Revenue growth, 5 years0% a yearFY26 (0.1)% · 5-yr CAGR 13.1%
EBITDA margin15.3%FY26 15.3% · 5-yr average 13.9%
Depreciation · capex, % of revenue1.9% · 14%, fading to 1.2× depreciationFY26 1.9% · 14.0%
Working capital, % of added revenue · tax17.5% · 25.9%64 working-capital days · effective 25.9%
Discount rate11.00%1-yr beta 1.16
After FY315% flat · mid-year discounting
Net debt · non-controlling interest · non-operating investments0 · ₹0 · ₹0 crFY26 net debt ₹0 cr
Shares9.50 crore9.50 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.

Projected cash flow to the firm

₹ croreFY26FY27FY28FY29FY30FY31
Revenue808808808808808808
growth %(0.1)0.00.00.00.00.0
EBITDA124124124124124124
Depreciation(15)(15)(15)(15)(15)(15)
NOPAT808080808080
less capex(113)(113)(89)(66)(42)(18)
less working-capital build00000
Free cash flow to firm(18)6305377
Present value(17)5233748
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 · PUDUMJEE PAPER PRO. LTD · 11 September 2026Page 2 of 2

From enterprise to equity

PV of the 5 explicit years97
PV of the terminal value (89% of EV)801
Enterprise value898
less net debt0
less non-controlling interest0
add non-operating investments0
Equity value898
÷ 9.50 crore shares95
Source: the model.

Sensitivity, ₹ per share

WACC ↓ · terminal growth →4.0%4.5%5.0%5.5%6.0%
10.0%98106116129144
10.5%8996105114127
11.0%828895103112
11.5%75808693101
12.0%7074798591
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