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Model Note · R M DRIP & SPRINK SYS LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
R M DRIP & SPRINK SYS LTD Discounted cash flow · base FY26
R M DRIP & SPRINK SYS LTD
Value per share, this model₹2
CMP 2026-09-10₹23.59
Difference(92.4)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of R M DRIP & SPRINK SYS 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 50.5% · 5-yr CAGR —%
EBITDA margin
26.5%
FY26 26.5% · 5-yr average 26.5%
Depreciation · capex, % of revenue
1.8% · 0%, fading to 1.2× depreciation
FY26 1.8% · 0.0%
Working capital, % of added revenue · tax
71.6% · 26.7%
261 working-capital days · effective 26.7%
Discount rate
11.00%
1-yr beta 0.62
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹53 · ₹0 · ₹0 cr
FY26 net debt ₹53 cr
Shares
42.82 crore
42.82 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
197
257
334
434
564
733
growth %
50.5
30.0
30.0
30.0
30.0
30.0
EBITDA
52
68
88
115
149
194
Depreciation
(4)
(5)
(6)
(8)
(10)
(13)
NOPAT
36
46
60
79
102
133
less capex
0
0
(2)
(5)
(9)
(16)
less working-capital build
—
(42)
(55)
(72)
(93)
(121)
Free cash flow to firm
—
9
9
10
10
9
Present value
8
8
8
7
6
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 · R M DRIP & SPRINK SYS LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
37
PV of the terminal value (72% of EV)
93
Enterprise value
130
less net debt
(53)
less non-controlling interest
0
add non-operating investments
0
Equity value
77
÷ 42.82 crore shares
₹2
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
2
2
2
3
3
10.5%
2
2
2
2
3
11.0%
1
2
2
2
2
11.5%
1
1
2
2
2
12.0%
1
1
1
2
2
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
