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Model Note · SHAILY ENG PLASTICS LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SHAILY ENG PLASTICS LTD Discounted cash flow · base FY26
SHAILY ENG PLASTICS LTD
Value per share, this model₹842
CMP 2026-09-10₹3,277.50
Difference(74.3)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of SHAILY ENG PLASTICS 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
26% a year
FY26 25.9% · 5-yr CAGR —%
EBITDA margin
28.3%
FY26 28.3% · 5-yr average 19.6%
Depreciation · capex, % of revenue
5% · 18%, fading to 1.2× depreciation
FY26 5.0% · 18.0%
Working capital, % of added revenue · tax
28.2% · 23.7%
103 working-capital days · effective 23.7%
Discount rate
11.00%
1-yr beta 0.43
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹153 · ₹0 · ₹0 cr
FY26 net debt ₹153 cr
Shares
4.60 crore
4.60 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
991
1,248
1,573
1,982
2,497
3,146
growth %
25.9
26.0
26.0
26.0
26.0
26.0
EBITDA
280
353
445
561
707
890
Depreciation
(49)
(62)
(79)
(99)
(125)
(157)
NOPAT
176
222
280
352
444
559
less capex
(178)
(225)
(236)
(238)
(225)
(189)
less working-capital build
—
(73)
(92)
(115)
(145)
(183)
Free cash flow to firm
—
(13)
31
98
199
345
Present value
(12)
26
76
138
216
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 · SHAILY ENG PLASTICS LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
443
PV of the terminal value (89% of EV)
3,581
Enterprise value
4,024
less net debt
(153)
less non-controlling interest
0
add non-operating investments
0
Equity value
3,871
÷ 4.60 crore shares
₹842
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
873
951
1,044
1,158
1,300
10.5%
793
857
933
1,025
1,136
11.0%
724
778
842
916
1,006
11.5%
665
711
764
826
900
12.0%
613
652
698
750
811
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
