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 · TIME TECHNOPLAST LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
TIME TECHNOPLAST LTD. Discounted cash flow · base FY26
TIME TECHNOPLAST LTD.
Value per share, this model₹102
CMP 2026-09-10₹181.00
Difference(43.7)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of TIME TECHNOPLAST 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
12% a year
FY26 11.9% · 5-yr CAGR 15.2%
EBITDA margin
14.6%
FY26 14.6% · 5-yr average 14.0%
Depreciation · capex, % of revenue
3% · 7.4%, fading to 1.2× depreciation
FY26 3.0% · 7.4%
Working capital, % of added revenue · tax
38.2% · 25.3%
140 working-capital days · effective 25.3%
Discount rate
11.00%
1-yr beta 1.47
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹102 · ₹0 · ₹0 cr
FY26 net debt ₹102 cr
Shares
49.36 crore
49.36 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
6,105
6,838
7,658
8,577
9,607
10,759
growth %
11.9
12.0
12.0
12.0
12.0
12.0
EBITDA
892
998
1,118
1,252
1,403
1,571
Depreciation
(183)
(205)
(230)
(257)
(288)
(323)
NOPAT
529
593
664
743
832
932
less capex
(453)
(506)
(494)
(472)
(437)
(387)
less working-capital build
—
(280)
(313)
(351)
(393)
(440)
Free cash flow to firm
—
12
86
178
290
427
Present value
11
73
137
202
267
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 · TIME TECHNOPLAST LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
690
PV of the terminal value (87% of EV)
4,439
Enterprise value
5,129
less net debt
(102)
less non-controlling interest
0
add non-operating investments
0
Equity value
5,027
÷ 49.36 crore shares
₹102
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
106
115
125
138
155
10.5%
96
104
112
123
136
11.0%
88
95
102
110
121
11.5%
81
87
93
100
109
12.0%
75
80
85
91
98
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
