The note is the current scenario (Base). Download PDF renders this page on the server, fonts and colours exact; Print uses the browser.
Model Note · STRIDES PHARMA SCI LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
STRIDES PHARMA SCI LTD Discounted cash flow · base FY26
STRIDES PHARMA SCI LTD
Value per share, this model₹730
CMP 2026-09-10₹1,180.00
Difference(38.1)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of STRIDES PHARMA SCI 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
6.5% a year
FY26 6.4% · 5-yr CAGR 7.9%
EBITDA margin
18.5%
FY26 18.5% · 5-yr average 10.8%
Depreciation · capex, % of revenue
4.2% · 8.7%, fading to 1.2× depreciation
FY26 4.2% · 8.7%
Working capital, % of added revenue · tax
33.2% · 14.1%
121 working-capital days · effective 14.1%
Discount rate
11.00%
1-yr beta 0.55
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹1,480 · ₹0 · ₹0 cr
FY26 net debt ₹1,480 cr
Shares
9.22 crore
9.22 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
4,859
5,174
5,511
5,869
6,251
6,657
growth %
6.4
6.5
6.5
6.5
6.5
6.5
EBITDA
898
957
1,020
1,086
1,156
1,232
Depreciation
(202)
(217)
(231)
(246)
(263)
(280)
NOPAT
598
636
677
721
768
818
less capex
(423)
(450)
(429)
(403)
(372)
(336)
less working-capital build
—
(105)
(112)
(119)
(127)
(135)
Free cash flow to firm
—
298
368
445
531
627
Present value
283
314
343
369
392
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 · STRIDES PHARMA SCI LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,701
PV of the terminal value (79% of EV)
6,511
Enterprise value
8,212
less net debt
(1,480)
less non-controlling interest
0
add non-operating investments
0
Equity value
6,732
÷ 9.22 crore shares
₹730
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
760
831
915
1,019
1,148
10.5%
687
745
814
897
999
11.0%
624
673
730
798
880
11.5%
569
611
659
716
782
12.0%
521
557
599
646
701
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
