Gujarat-based manufacturer of industrial explosives — slurry, emulsion, detonating fuse and cast boosters — serving mining, construction, defense, cement and infrastructure customers.
Price
Market Cap
Sector
Commodities
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 4 | 6 | 7 | 7 | 10 | 13 | 13 | 15 |
| Reserves | 0 | 1 | 5 | 7 | 14 | 84 | 91 | 140 |
| Borrowings | 13 | 18 | 24 | 43 | 37 | 25 | 23 | 37 |
| Other Liabilities | 4 | 3 | 7 | 4 | 10 | 10 | 10 | 11 |
| Total Liabilities | 21 | 28 | 42 | 62 | 71 | 131 | 137 | 203 |
| AssetsFixed Assets | 8 | 16 | 19 | 24 | 32 | 37 | 36 | 50 |
| CWIP | 5 | 0 | 0 | 3 | 2 | 12 | 13 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 53 |
| Other Assets | 8 | 13 | 23 | 34 | 37 | 82 | 88 | 97 |
| Total Assets | 21 | 28 | 42 | 62 | 71 | 131 | 137 | 203 |
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 2 | 0 | -1 | 2 | 7 | 5 | 2 |
| Cash from Investing | -5 | -3 | -5 | -10 | -9 | -35 | -12 |
| Cash from Financing | 4 | 3 | 6 | 14 | -2 | 48 | 10 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — |
| Free Cash Flow | -3 | -10 | -6 | -8 | -2 | -12 | -11 |
| 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 (9.3×) and current (15.6×) 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 10% growth and a 9× exit, ₹344 only delivers your return if you pay ₹138. The price is currently baking in 30% growth.
EPS grows 10%/yr for 5 years, then fades to 6% over 2, exits at 9×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 10.0% | 24.32 |
| FY28 | 10.0% | 26.75 |
| FY29 | 10.0% | 29.43 |
| FY30 | 10.0% | 32.37 |
| FY31 | 10.0% | 35.61 |
| FY32 | 8.0% ·fade | 38.46 |
| FY33 | 6.0% ·fade | 40.76 |
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.