Multibase India Limited (526169) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Multibase India Limited ₹122, price ₹169, upside -27.8%, quality 67 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹152.67 – ₹515.55 · fair‑value band ₹104.75 – ₹150.68 · the ₹168.95 price screens above the ₹122.01 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Multibase India Limited manufactures and trades in thermoplastic elastomers and silicone-based products in India and internationally. The company provides polypropylene compounds, silicon masterbatches, and thermoplastic masterbatches. It serves automotive, and building and construction segments.
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Multibase India Limited manufactures and trades in thermoplastic elastomers and silicone-based products in India and internationally. The company provides polypropylene compounds, silicon masterbatches, and thermoplastic masterbatches. It serves automotive, and building and construction segments. The company was formerly known as Synergy Multibase Limited and changed its name to Multibase India Limited in 2007. The company was incorporated in 1991 and is based in Mumbai, India. Multibase India Limited is a subsidiary of Multibase SA.
Stock analysis
Multibase India Limited (526169) currently trades at ₹168.95, while our model-based Fair Value estimate is ₹122.01, 27.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of ₹536.00 per share, and 3 of the 24 models we run sit above the ₹168.95 price.
Bear case: the Asset-Based group reads lowest at ₹47.21, and 21 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹104.75 (bear) to ₹150.68 (bull), the price of ₹168.95 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 67/100 (solid quality), in the Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Multibase India Limited reported revenue of ₹666M in FY2026 versus ₹625M in FY2022, a compound +1.6%/yr. Reported net income was ₹104M in FY2026, compounding +13.2%/yr from FY2022.
Key figures
Market cap ₹2.1B (≈ $22.1M) · P/E ratio 44.8 · P/S ratio 7.02 · EPS (TTM) ₹3.67 · Net margin 15.7% · Return on equity 4.4% · Return on assets (EBIT) 8.6% · Operating margin 5.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Materials peers we cover trades at −39% fair-value upside, at −28%, 526169 screens cheaper than that median.
Fair Value models
Bear ₹104.75Fair Value ₹122.01Bull ₹150.68
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹1.87 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−5.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.5%
Start year 2021 (pandemic). Over 10 years: −0.6% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.7%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+9.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.2%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9.2% vs −2.4%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 16%
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 6.9%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+11.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +6.8% a year for the price.
Compare Multibase India Limited with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Chemicals · 681 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside−17.7% · Above median
Profitability
Return on equity (TTM)4.4% · Below median
Return on assets1.3% · Below median
Net margin (TTM)10.1% · Above median
Operating margin (TTM)5.2% · Below median
Growth and dividend
Revenue growth−2.2% · Bottom 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Multibase India Limited Fair Value". https://www.fairvalue-calculator.com/stock/526169
Frequently asked questions
Is Multibase India Limited (526169) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹122.01 versus a price of ₹168.95, about −28% upside (overvalued).
What is the fair value of 526169?
Our model-based fair value for Multibase India Limited is ₹122.01 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹168.95.
What is the quality score of 526169?
Multibase India Limited has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Multibase India Limited (526169)?
Our model-based price target is the fair value of ₹122.01 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario ₹104.75, optimistic scenario ₹150.68. It is a calculation from audited fundamentals, not an analyst target.
What is the Multibase India Limited stock forecast for 2026?
Our models put fair value at ₹122.01, about −28% upside versus a price of ₹168.95 (overvalued). Cautious scenario ₹104.75, optimistic scenario ₹150.68. The calculation is refreshed regularly with new filings.
What is the revenue of Multibase India Limited (526169)?
Multibase India Limited reported trailing-twelve-month revenue of about ₹461M (latest available figure, as of Sep 24, 2026).
What growth is priced into Multibase India Limited (526169)?
For today's price to be fair in a discounted-cash-flow model, Multibase India Limited would have to grow free cash flow by +11.2 % per year for five years (discount rate 12.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 526169 use?
Our models discount Multibase India Limited at 12.7 %: a base by market capitalisation (nano), damped by beta 1.12, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Multibase India Limited that is +11.2 % per year a year over ten years, using the same discount rate (12.7 %) and the same formula as our fair value.
How much growth has Multibase India Limited (526169) delivered so far?
Over the past 5 years revenue at Multibase India Limited grew +4.5 % a year. The price currently implies +11.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Multibase India Limited (526169) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into Multibase India Limited (+11.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Multibase India Limited (526169)?
The free-cash-flow yield on the price is 5.08 %: that much free cash flow Multibase India Limited produces per unit of market value. When it exceeds the discount rate of our models (12.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Multibase India Limited (526169)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Multibase India Limited it is ₹122.01 per share (as of Sep 24, 2026), against a price of ₹168.95. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Multibase India Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 526169 trades above its calculated fair value: price ₹168.95, fair value ₹122.01, a gap of about −28% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 526169?
No. The price is what the market pays today (₹168.95); the fair value is what the company's own numbers justify (₹122.01). For Multibase India Limited the two are ₹46.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is Multibase India Limited worth?
The market values Multibase India Limited at about ₹2.1B (market capitalisation, as of Sep 24, 2026). Per share that is ₹168.95; our models calculate a fair value of ₹122.01 per share.
What do the bullish and bearish scenarios say about 526169?
Our models span a range for Multibase India Limited: cautious scenario ₹104.75, base ₹122.01, optimistic ₹150.68 per share (as of Sep 24, 2026, price ₹168.95). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 526169?
Multibase India Limited trades at a price-to-earnings ratio of 44.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹122.01 is built from several models across several years. Other multiples: P/B 2.4, P/S 4.6, EV/EBITDA 44.5.
How solid is the balance sheet of Multibase India Limited (526169)?
Balance-sheet figures for Multibase India Limited (as of Sep 24, 2026): return on equity 4.4%. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is 526169 from its 52-week high?
Multibase India Limited trades at ₹168.95, about 35% below its 52-week high of ₹261.35 and 5% above the low of ₹160.60 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹122.01 is for.
Which stocks are comparable to Multibase India Limited?
From the same area (Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Multibase India Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹168.95, calculated fair value ₹122.01 (−28%), Quality Score 67/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 526169 calculated?
We run Multibase India Limited through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹122.01, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Multibase India Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Multibase India Limited (526169)?
The closing price on Oct 1, 2026 was ₹168.95. Our model-based fair value is ₹122.01, about −28% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Multibase India Limited right now?
The price sits above even our optimistic bull case (₹150.68). The favourable scenario is already priced in. Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Multibase India Limited
How large is the market capitalisation of Multibase India Limited (526169)?
The market capitalisation of Multibase India Limited is ₹2.1B (≈ $22.1M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Multibase India Limited (526169)?
The price-to-sales ratio of Multibase India Limited is 7.02 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Multibase India Limited (526169)?
Earnings per share at Multibase India Limited are ₹3.67 (price ÷ EPS = P/E 44.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Multibase India Limited (526169)?
The net margin of Multibase India Limited is 15.7% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Multibase India Limited (526169)?
The return on equity (ROE) of Multibase India Limited is 4.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Multibase India Limited (526169)?
On an EBIT basis the return on assets of Multibase India Limited is 8.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Multibase India Limited (526169)?
The operating margin of Multibase India Limited is 5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Multibase India Limited (526169)?
Revenue at Multibase India Limited is growing −2.2% versus a year earlier (3y avg −2.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Multibase India Limited (526169)?
Earnings per share at Multibase India Limited are growing −9.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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