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Model Note · SAINT GOBAIN SEKUR IND L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SAINT GOBAIN SEKUR IND L Discounted cash flow · base FY26
SAINT GOBAIN SEKUR IND L
Value per share, this model₹102
CMP 2026-09-10₹110.00
Difference(7.4)%
Growth the CMP implies18.9%/yr
This note states the assumptions and the arithmetic of one model of SAINT GOBAIN SEKUR IND L, 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
16.5% a year
FY26 16.6% · 5-yr CAGR 18.3%
EBITDA margin
21.3%
FY26 21.3% · 5-yr average 23.7%
Depreciation · capex, % of revenue
1.4% · 1.2%, fading to 1.2× depreciation
FY26 1.4% · 1.2%
Working capital, % of added revenue · tax
11.6% · 23.2%
43 working-capital days · effective 23.2%
Discount rate
11.00%
1-yr beta —
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(3) · ₹0 · ₹0 cr
FY26 net debt ₹(3) cr
Shares
9.11 crore
9.11 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
243
283
330
384
448
521
growth %
16.6
16.5
16.5
16.5
16.5
16.5
EBITDA
52
60
70
82
95
111
Depreciation
(3)
(4)
(5)
(5)
(6)
(7)
NOPAT
37
43
50
59
68
80
less capex
(3)
(3)
(4)
(6)
(7)
(9)
less working-capital build
—
(5)
(5)
(6)
(7)
(9)
Free cash flow to firm
—
39
45
52
60
70
Present value
37
39
40
42
44
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 · SAINT GOBAIN SEKUR IND L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
202
PV of the terminal value (78% of EV)
724
Enterprise value
925
less net debt
3
less non-controlling interest
0
add non-operating investments
0
Equity value
928
÷ 9.11 crore shares
₹102
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
105
113
123
134
149
10.5%
97
104
111
121
132
11.0%
90
95
102
110
119
11.5%
84
88
94
100
108
12.0%
78
82
87
92
99
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
