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Model Note · SHARDA CROPCHEM LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SHARDA CROPCHEM LTD. Discounted cash flow · base FY26
SHARDA CROPCHEM LTD.
Value per share, this model₹814
CMP 2026-09-10₹765.95
Difference6.3%
Growth the CMP implies(17.2)%/yr
This note states the assumptions and the arithmetic of one model of SHARDA CROPCHEM 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
22% a year
FY26 21.9% · 5-yr CAGR 17.1%
EBITDA margin
20.4%
FY26 20.4% · 5-yr average 15.6%
Depreciation · capex, % of revenue
6.2% · 0%, fading to 1.2× depreciation
FY26 6.2% · 0.0%
Working capital, % of added revenue · tax
38.2% · 20.4%
139 working-capital days · effective 20.4%
Discount rate
11.00%
1-yr beta 1.29
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(220) · ₹0 · ₹0 cr
FY26 net debt ₹(220) cr
Shares
9.02 crore
9.02 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
5,268
6,426
7,840
9,565
11,669
14,237
growth %
21.9
22.0
22.0
22.0
22.0
22.0
EBITDA
1,076
1,311
1,599
1,951
2,381
2,904
Depreciation
(325)
(398)
(486)
(593)
(724)
(883)
NOPAT
598
726
886
1,081
1,319
1,609
less capex
(1)
0
(146)
(356)
(651)
(1,059)
less working-capital build
—
(443)
(540)
(659)
(804)
(981)
Free cash flow to firm
—
682
686
659
588
452
Present value
647
587
508
408
283
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 · SHARDA CROPCHEM LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
2,433
PV of the terminal value (66% of EV)
4,694
Enterprise value
7,127
less net debt
220
less non-controlling interest
0
add non-operating investments
0
Equity value
7,347
÷ 9.02 crore shares
₹814
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
838
890
953
1,029
1,124
10.5%
783
826
877
938
1,013
11.0%
736
772
814
864
924
11.5%
695
725
761
803
852
12.0%
658
685
715
750
791
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
