PENIND
Pennar Industries Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
PENIND
FY26 → FY27 · 1 year of guidance · ~0.7 years from today₹165 today
BEAR
₹118
-29%
6.5% a year · 10.8x exit
BASE
₹161
-2%
11.3% a year · 14.1x exit
BULL
₹241
+46%
15.4% a year · 20.3x exit
Where the market has priced it
4x16x today97x
- the last 3 years priced this company 30% above its ten-year median (18x vs 14x) — the exit multiple here is the ten-year one, so a sustained re-rating would not be captured
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹10.29 (screener) |
|---|---|
| Guided growth | 11.3% a year, said on the call of 29-May-2026 · transcript |
| Read across as | operating: unlabelled growth figure, read as revenue — medium confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 10.76x / 14.06x / 20.34x, this company’s own p20 / median / p80 across 10 filed years |
| Filed-industry peers | median 19.52x across 25 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)1 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
generic growth 10%
But from a quote activity perspective and what we expect to close, I do not see an issue in maintaining the order backlog we need so that we can grow PEB India directly in double-digit rate in this financial year.
Call 29-May-2026 · bridge confidence medium · transcript PDF