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Model Note · SHRI GANG INDUSTRIES AND ALLIE · 22 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SHRI GANG INDUSTRIES AND ALLIE Discounted cash flow · base FY26
SHRI GANG INDUSTRIES AND ALLIE
Value per share, this model₹229
CMP 2026-09-21₹57.45
Difference297.9%
Growth the CMP implies(13.6)%/yr
This note states the assumptions and the arithmetic of one model of SHRI GANG INDUSTRIES AND ALLIE, 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
14% a year
FY26 14.1% · 5-yr CAGR 65.7%
EBITDA margin
9%
FY26 9.0% · 5-yr average 11.5%
Depreciation · capex, % of revenue
1.4% · 1.2%, fading to 1.2× depreciation
FY26 1.4% · 1.2%
Working capital, % of added revenue · tax
1.2% · 26.4%
5 working-capital days · effective 26.4%
Discount rate
11.00%
1-yr beta 0.44
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹49 · ₹0 · ₹0 cr
FY26 net debt ₹49 cr
Shares
2.15 crore
2.15 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
402
459
523
596
680
775
growth %
14.1
14.0
14.0
14.0
14.0
14.0
EBITDA
36
41
47
54
61
70
Depreciation
(6)
(6)
(7)
(8)
(10)
(11)
NOPAT
22
26
29
33
38
43
less capex
(5)
(6)
(7)
(9)
(11)
(13)
less working-capital build
—
(1)
(1)
(1)
(1)
(1)
Free cash flow to firm
—
26
29
32
36
40
Present value
25
25
25
25
25
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 · SHRI GANG INDUSTRIES AND ALLIE · 22 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
124
PV of the terminal value (77% of EV)
416
Enterprise value
540
less net debt
(49)
less non-controlling interest
0
add non-operating investments
0
Equity value
491
÷ 2.15 crore shares
₹229
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
237
256
279
308
343
10.5%
217
233
252
274
302
11.0%
199
213
229
247
270
11.5%
184
196
209
225
243
12.0%
171
181
192
205
221
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
