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Model Note · SUNDRAM FASTENERS LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SUNDRAM FASTENERS LTD Discounted cash flow · base FY26
SUNDRAM FASTENERS LTD
Value per share, this model₹311
CMP 2026-09-10₹1,281.00
Difference(75.8)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of SUNDRAM FASTENERS 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
5.5% a year
FY26 5.6% · 5-yr CAGR 11.5%
EBITDA margin
15.6%
FY26 15.6% · 5-yr average 15.7%
Depreciation · capex, % of revenue
3.8% · 5.9%, fading to 1.2× depreciation
FY26 3.8% · 5.9%
Working capital, % of added revenue · tax
33.6% · 24.8%
123 working-capital days · effective 24.8%
Discount rate
11.00%
1-yr beta 0.76
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹518 · ₹0 · ₹0 cr
FY26 net debt ₹518 cr
Shares
21.01 crore
21.01 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
6,289
6,635
7,000
7,385
7,791
8,219
growth %
5.6
5.5
5.5
5.5
5.5
5.5
EBITDA
983
1,035
1,092
1,152
1,215
1,282
Depreciation
(236)
(252)
(266)
(281)
(296)
(312)
NOPAT
562
589
621
655
691
729
less capex
(372)
(391)
(390)
(386)
(381)
(375)
less working-capital build
—
(116)
(123)
(129)
(136)
(144)
Free cash flow to firm
—
333
375
420
470
523
Present value
316
321
324
326
327
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 · SUNDRAM FASTENERS LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,613
PV of the terminal value (77% of EV)
5,431
Enterprise value
7,044
less net debt
(518)
less non-controlling interest
0
add non-operating investments
0
Equity value
6,526
÷ 21.01 crore shares
₹311
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
322
348
378
416
463
10.5%
295
316
341
372
409
11.0%
272
290
311
335
365
11.5%
252
267
285
305
330
12.0%
234
247
262
280
300
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
