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Model Note · A B COTSPIN INDIA LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
A B COTSPIN INDIA LIMITED Discounted cash flow · base FY26
A B COTSPIN INDIA LIMITED
Value per share, this model₹53
CMP 2026-09-10₹202.35
Difference(73.6)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of A B COTSPIN INDIA LIMITED, 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
0% a year
FY26 0.2% · 5-yr CAGR —%
EBITDA margin
13.3%
FY26 13.3% · 5-yr average 11.7%
Depreciation · capex, % of revenue
4.7% · 0%, fading to 1.2× depreciation
FY26 4.7% · 0.0%
Working capital, % of added revenue · tax
44.9% · 26.6%
164 working-capital days · effective 26.6%
Discount rate
11.00%
1-yr beta 0.22
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹147 · ₹0 · ₹0 cr
FY26 net debt ₹147 cr
Shares
2.22 crore
2.22 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
299
299
299
299
299
299
growth %
0.2
0.0
0.0
0.0
0.0
0.0
EBITDA
40
40
40
40
40
40
Depreciation
(14)
(14)
(14)
(14)
(14)
(14)
NOPAT
19
19
19
19
19
19
less capex
0
0
(4)
(8)
(13)
(17)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
33
29
24
20
16
Present value
31
25
19
14
10
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 · A B COTSPIN INDIA LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
99
PV of the terminal value (63% of EV)
167
Enterprise value
266
less net debt
(147)
less non-controlling interest
0
add non-operating investments
0
Equity value
119
÷ 2.22 crore shares
₹53
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
57
65
74
85
98
10.5%
49
55
63
71
82
11.0%
42
47
53
61
69
11.5%
36
41
46
52
59
12.0%
31
35
39
44
50
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
