Bengaluru-based manufacturer of industrial explosives, detonating fuse and blasting accessories for mining customers, with a separate Perlite division making perlite-based filter-aid products.
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Commodities
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 61 | 63 | 69 | 80 | 99 | 124 | 138 | 152 |
| Borrowings | 23 | 24 | 31 | 32 | 25 | 39 | 45 | 73 |
| Other Liabilities | 47 | 54 | 77 | 92 | 98 | 124 | 129 | 129 |
| Total Liabilities | 132 | 141 | 177 | 205 | 223 | 287 | 313 | 355 |
| AssetsFixed Assets | 54 | 54 | 70 | 69 | 71 | 68 | 66 | 117 |
| CWIP | 3 | 6 | 1 | 1 | 1 | 9 | 38 | 38 |
| Investments | 0 | 0 | 7 | 10 | 20 | 22 | 15 | 13 |
| Other Assets | 75 | 82 | 100 | 125 | 130 | 188 | 194 | 186 |
| Total Assets | 132 | 141 | 177 | 205 | 223 | 287 | 313 | 355 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 2 | 5 | 8 | 21 | 18 | 51 | -18 | 48 |
| Cash from Investing | -5 | -3 | -7 | -23 | -8 | -17 | -10 | -75 |
| Cash from Financing | 4 | -2 | -3 | 2 | -4 | -11 | 10 | 30 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -3 | 2 | 0 | 4 | 13 | 27 | -30 | -37 |
| FCF Margin | — | — | — | — | — | — | — | — |
The Earnings Per Share over the last 12 months.
Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).
Pre-filled with the lower of median (13.9×) and current (23.5×) PE — the conservative anchor.
The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.
At 29.1% growth and a 14× exit, ₹6029 only delivers your return if you pay ₹6,035. The price is currently baking in 29% growth.
EPS grows 29.1%/yr for 5 years, then fades to 6% over 2, exits at 14×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 29.1% | 331.27 |
| FY28 | 29.1% | 427.67 |
| FY29 | 29.1% | 552.12 |
| FY30 | 29.1% | 712.79 |
| FY31 | 29.1% | 920.21 |
| FY32 | 17.6% ·fade | 1081.71 |
| FY33 | 6.0% ·fade | 1146.61 |
Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.
Guides on how to read this kind of business and the numbers that matter.