Models
RAJSHREE POLYPACK LTDRPPLIndustrial Products
₹21per 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₹21implied FY26 P/E 7.5× · EV/EBITDA 5.8×
Against CMP ₹20.70−0.3%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3168%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
₹14₹35
52-week rangetraded range, a fact not a value
₹14₹27
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 83 |
| PV of terminal value | 176 |
| Enterprise value | 259 |
| less net debt | (106) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 153 |
| ÷ 7.42 crore shares | ₹21 |
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% | 22 | 24 | 27 | 30 | 35 |
| 10.50% | 19 | 21 | 23 | 26 | 30 |
| 11.00% | 17 | 19 | 21 | 23 | 26 |
| 11.50% | 15 | 17 | 18 | 20 | 22 |
| 12.00% | 14 | 15 | 16 | 18 | 20 |
The outlined cell is your model. Green figures sit above the CMP of ₹20.70; 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 | 13 · 20 · 28 |
| Draws below the CMP | 51% |
| Rank correlation with ebitda margin | +0.86 |
| Rank correlation with discount rate | −0.47 |
| 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 | 252 | 274 | 330 | 332 | 334 | 336 | 337 | 339 | 341 |
| growth % | — | 8.8 | 20.2 | 0.7 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 |
| EBITDA | 33 | 33 | 41 | 45 | 45 | 45 | 45 | 45 | 46 |
| margin % | 13.2 | 12.1 | 12.5 | 13.4 | 13.4 | 13.4 | 13.4 | 13.4 | 13.4 |
| less depreciation | (14) | (16) | (17) | (17) | (17) | (17) | (18) | (18) | (18) |
| EBIT | 19 | 18 | 24 | 27 | 27 | 28 | 28 | 28 | 28 |
| less tax on EBIT | (7) | (7) | (7) | (7) | (7) | (7) | |||
| NOPAT | 20 | 21 | 21 | 21 | 21 | 21 | |||
| add depreciation | 14 | 16 | 17 | 17 | 17 | 17 | 18 | 18 | 18 |
| less capex | (31) | (19) | (22) | (12) | (12) | (15) | (17) | (19) | (21) |
| less working-capital build | — | (1) | (1) | (1) | (1) | (1) | |||
| Free cash flow to firm | (17) | 2 | (4) | — | 25 | 23 | 21 | 19 | 17 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 24 | 20 | 16 | 13 | 11 |
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 106, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 27 | 27 | 28 | 28 | 28 | 28 |
| Interest at 10.2% on debt | (11) | (11) | (11) | (11) | (11) | |
| Profit before tax | 17 | 17 | 17 | 17 | 17 | |
| Profit after tax | 17 | 12 | 13 | 13 | 13 | 13 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 1 | 17 | 32 | 45 | 56 | 65 |
| Working capital | 122 | 123 | 124 | 124 | 125 | 125 |
| Net block and other assets | 219 | 214 | 211 | 210 | 212 | 215 |
| Debt | 106 | 106 | 106 | 106 | 106 | 106 |
| Equity | 181 | 193 | 206 | 218 | 231 | 244 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 29 | 29 | 30 | 30 | 30 | |
| Investing (capex) | (12) | (15) | (17) | (19) | (21) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 17 | 15 | 13 | 11 | 9 | |
| Free cash flow to equity | 17 | 15 | 13 | 11 | 9 | |
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 | 0.5% | 13.4% | 11.00% | 5% | ₹21 | (0.3)% |
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.