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Model Note · THE P K TEA PROD CO LTD · 22 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
THE P K TEA PROD CO LTD Discounted cash flow · base FY24
THE P K TEA PROD CO LTD
Value per share, this model₹58
CMP 2026-09-21₹997.90
Difference(94.2)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of THE P K TEA PROD CO LTD, built on its filed FY24 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
4% a year
FY24 4.2% · 5-yr CAGR —%
EBITDA margin
11.2%
FY24 11.2% · 5-yr average 16.0%
Depreciation · capex, % of revenue
6.3% · 4.4%, fading to 1.2× depreciation
FY24 6.3% · 4.4%
Working capital, % of added revenue · tax
9.3% · 18%
34 working-capital days · effective 18.0%
Discount rate
11.00%
1-yr beta 0.25
After FY29
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹8 · ₹0 · ₹0 cr
FY24 net debt ₹8 cr
Shares
0.31 crore
0.31 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY24
FY25
FY26
FY27
FY28
FY29
Revenue
54
56
58
60
63
65
growth %
4.2
4.0
4.0
4.0
4.0
4.0
EBITDA
6
6
7
7
7
7
Depreciation
(3)
(4)
(4)
(4)
(4)
(4)
NOPAT
2
2
2
2
3
3
less capex
(2)
(2)
(3)
(4)
(4)
(5)
less working-capital build
—
(0)
(0)
(0)
(0)
(0)
Free cash flow to firm
—
3
3
2
2
2
Present value
3
2
2
1
1
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 · THE P K TEA PROD CO LTD · 22 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
10
PV of the terminal value (63% of EV)
16
Enterprise value
26
less net debt
(8)
less non-controlling interest
0
add non-operating investments
0
Equity value
18
÷ 0.31 crore shares
₹58
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
60
65
72
79
89
10.5%
54
59
64
70
78
11.0%
50
53
58
63
69
11.5%
45
49
52
56
61
12.0%
42
44
48
51
55
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
