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Model Note · 3B BLACKBIO DX LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
3B BLACKBIO DX LTD. Discounted cash flow · base FY26
3B BLACKBIO DX LTD.
Value per share, this model₹1,337
CMP 2026-09-10₹1,420.00
Difference(5.9)%
Growth the CMP implies32.9%/yr
This note states the assumptions and the arithmetic of one model of 3B BLACKBIO DX LTD., built on its filed FY26 consolidated statements. The value is the outcome of the assumptions below and nothing else; it is not a fair value, a target or a recommendation.
Assumptions
Input
This model
Filed reference
Revenue growth, 5 years
30% a year
FY26 47.1% · 5-yr CAGR (8.9)%
EBITDA margin
40%
FY26 40.0% · 5-yr average 45.9%
Depreciation · capex, % of revenue
3.6% · 18%, fading to 1.2× depreciation
FY26 3.6% · 18.0%
Working capital, % of added revenue · tax
43.4% · 22.1%
158 working-capital days · effective 22.1%
Discount rate
11.00%
1-yr beta 0.82
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(35) · ₹0 · ₹0 cr
FY26 net debt ₹(35) cr
Shares
0.86 crore
0.86 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY26
FY27
FY28
FY29
FY30
FY31
Revenue
142
184
240
312
405
527
growth %
47.1
30.0
30.0
30.0
30.0
30.0
EBITDA
57
74
96
125
162
211
Depreciation
(5)
(7)
(9)
(11)
(15)
(19)
NOPAT
40
52
68
88
115
149
less capex
(26)
(33)
(35)
(35)
(31)
(23)
less working-capital build
—
(18)
(24)
(31)
(41)
(53)
Free cash flow to firm
—
7
18
34
58
93
Present value
7
15
26
40
58
Source: the model; base year as filed.
Every figure is the reader's model over filed numbers · No rating, target or fair value is expressedmarketping.in
Model Note · 3B BLACKBIO DX LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
146
PV of the terminal value (87% of EV)
964
Enterprise value
1,110
less net debt
35
less non-controlling interest
0
add non-operating investments
0
Equity value
1,145
÷ 0.86 crore shares
₹1,337
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
1,383
1,495
1,629
1,794
1,999
10.5%
1,266
1,359
1,469
1,602
1,763
11.0%
1,167
1,245
1,337
1,445
1,574
11.5%
1,080
1,147
1,224
1,314
1,420
12.0%
1,005
1,063
1,128
1,204
1,292
Source: the model; n/a where terminal growth reaches the discount rate.
Statement
This note is the reader's own model over publicly filed information: SEBI results XBRL filed with BSE and NSE and exchange price data, assembled by MarketPing software; every assumption above is the reader's. It contains no research recommendation, no price target and no opinion by MarketPing on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Historical per-share figures are on the current share count. Where a figure is unavailable the table shows a dash rather than an estimate. Nothing here constitutes investment advice, an offer or a solicitation.
Every figure is the reader's model over filed numbers · No rating, target or fair value is expressedmarketping.in
