Gujarat-based 360° FRP (fibre-reinforced polymer) manufacturer making corrosion-free structural profiles, gratings, rods, poles and rebar as lightweight alternatives to steel and aluminium.
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 1 | 1 | 1 | 2 | 2 | 17 | 17 | 17 |
| Reserves | 8 | 11 | 14 | 24 | 34 | 84 | 91 | 93 |
| Borrowings | 13 | 10 | 13 | 14 | 12 | 45 | 48 | 58 |
| Other Liabilities | 15 | 21 | 33 | 30 | 54 | 60 | 57 | 44 |
| Total Liabilities | 38 | 44 | 61 | 69 | 101 | 206 | 213 | 212 |
| AssetsFixed Assets | 9 | 8 | 8 | 9 | 18 | 20 | 40 | 77 |
| CWIP | 0 | 0 | 0 | 0 | 4 | 35 | 28 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 29 | 36 | 53 | 60 | 80 | 152 | 144 | 133 |
| Total Assets | 38 | 44 | 61 | 69 | 101 | 206 | 213 | 212 |
| Line item | FY18 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | 6 | 4 | 0 | 2 | 21 | -9 | 6 |
| Cash from Investing | 0 | -5 | -2 | -2 | -4 | -14 | -34 | -29 |
| Cash from Financing | 0 | 3 | -4 | 1 | 3 | -4 | 84 | 9 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 0 | 0 | 3 | -1 | -2 | 7 | -45 | -26 |
| 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 (2.3×) and current (6.2×) 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 2× exit, ₹80 only delivers your return if you pay ₹18. The price is currently baking in 44% growth.
EPS grows 10%/yr for 5 years, then fades to 6% over 2, exits at 2×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 10.0% | 14.23 |
| FY28 | 10.0% | 15.66 |
| FY29 | 10.0% | 17.22 |
| FY30 | 10.0% | 18.95 |
| FY31 | 10.0% | 20.84 |
| FY32 | 8.0% ·fade | 22.51 |
| FY33 | 6.0% ·fade | 23.86 |
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.