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Model Note · SUDEEP PHARMA LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SUDEEP PHARMA LIMITED Discounted cash flow · base FY26
SUDEEP PHARMA LIMITED
Value per share, this model₹195
CMP 2026-09-10₹1,212.00
Difference(83.9)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of SUDEEP PHARMA LIMITED, 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
8% a year
FY26 —% · 5-yr CAGR —%
EBITDA margin
34.6%
FY26 34.6% · 5-yr average 34.6%
Depreciation · capex, % of revenue
2.3% · 18.4%, fading to 1.2× depreciation
FY26 2.3% · 18.4%
Working capital, % of added revenue · tax
58.4% · 23.6%
213 working-capital days · effective 23.6%
Discount rate
11.00%
1-yr beta 0.87
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹122 · ₹0 · ₹0 cr
FY26 net debt ₹122 cr
Shares
11.29 crore
11.29 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
642
694
749
809
874
944
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
222
240
259
280
302
327
Depreciation
(15)
(16)
(17)
(19)
(20)
(22)
NOPAT
158
171
185
200
216
233
less capex
(118)
(128)
(109)
(86)
(58)
(26)
less working-capital build
—
(30)
(32)
(35)
(38)
(41)
Free cash flow to firm
—
29
61
98
140
188
Present value
28
52
75
97
117
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 · SUDEEP PHARMA LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
370
PV of the terminal value (84% of EV)
1,949
Enterprise value
2,319
less net debt
(122)
less non-controlling interest
0
add non-operating investments
0
Equity value
2,197
÷ 11.29 crore shares
₹195
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
202
219
240
265
296
10.5%
184
198
215
235
260
11.0%
168
180
195
211
231
11.5%
155
165
177
191
207
12.0%
144
152
162
174
188
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
