Mumbai-based maker of PVA water-soluble packaging films (Watersol) and anti-counterfeit security products, with a pharma subsidiary making mouth-dissolving drug-delivery strips.
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 14 | 14 | 14 | 15 | 15 | 15 | 15 | 15 |
| Reserves | 62 | 70 | 61 | 83 | 112 | 173 | 197 | 219 |
| Borrowings | 5 | 5 | 5 | 3 | 1 | 1 | 3 | 2 |
| Other Liabilities | 10 | 9 | 9 | 20 | 17 | 19 | 22 | 19 |
| Total Liabilities | 92 | 99 | 89 | 121 | 145 | 208 | 236 | 256 |
| AssetsFixed Assets | 28 | 26 | 28 | 37 | 37 | 38 | 39 | 38 |
| CWIP | 10 | 12 | 13 | 1 | 3 | 2 | 1 | 0 |
| Investments | 14 | 9 | 1 | 0 | 0 | 46 | 76 | 77 |
| Other Assets | 40 | 53 | 46 | 83 | 104 | 123 | 120 | 141 |
| Total Assets | 92 | 99 | 89 | 121 | 145 | 208 | 236 | 256 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -16 | 3 | 1 | 2 | 3 | 18 | 68 | 43 |
| Cash from Investing | 8 | -24 | 2 | -2 | -14 | -14 | -55 | -26 |
| Cash from Financing | -3 | 12 | -2 | -2 | 8 | -4 | -4 | -7 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -23 | -15 | -4 | -6 | -1 | 8 | 61 | 39 |
| 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 (18.4×) and current (19.0×) 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 58.9% growth and a 18× exit, ₹597 only delivers your return if you pay ₹3,019. The price is currently baking in 19% growth.
EPS grows 58.9%/yr for 5 years, then fades to 6% over 2, exits at 18×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 58.9% | 49.85 |
| FY28 | 58.9% | 79.21 |
| FY29 | 58.9% | 125.86 |
| FY30 | 58.9% | 199.99 |
| FY31 | 58.9% | 317.79 |
| FY32 | 32.5% ·fade | 420.91 |
| FY33 | 6.0% ·fade | 446.16 |
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.