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Model Note · ADVENT HOTELS INTERNATI L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
ADVENT HOTELS INTERNATI L Discounted cash flow · base FY26
ADVENT HOTELS INTERNATI L
Value per share, this model₹232
CMP 2026-09-10₹128.31
Difference80.9%
Growth the CMP implies0.2%/yr
This note states the assumptions and the arithmetic of one model of ADVENT HOTELS INTERNATI L, 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
8% a year
FY26 —% · 5-yr CAGR —%
EBITDA margin
41.7%
FY26 41.7% · 5-yr average 41.7%
Depreciation · capex, % of revenue
7.6% · 0%, fading to 1.2× depreciation
FY26 7.6% · 0.0%
Working capital, % of added revenue · tax
0% · 22.7%
-28 working-capital days · effective 22.7%
Discount rate
11.00%
1-yr beta 2.02
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹773 · ₹0 · ₹0 cr
FY26 net debt ₹773 cr
Shares
5.39 crore
5.39 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
388
419
452
488
527
570
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
161
175
189
204
220
237
Depreciation
(30)
(32)
(34)
(37)
(40)
(43)
NOPAT
102
110
119
129
139
150
less capex
0
0
(10)
(22)
(36)
(52)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
142
143
144
143
141
Present value
135
122
111
99
88
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 · ADVENT HOTELS INTERNATI L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
556
PV of the terminal value (73% of EV)
1,469
Enterprise value
2,025
less net debt
(773)
less non-controlling interest
0
add non-operating investments
0
Equity value
1,252
÷ 5.39 crore shares
₹232
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
244
271
304
344
393
10.5%
215
238
265
297
336
11.0%
191
210
232
258
290
11.5%
170
186
204
226
252
12.0%
151
165
181
199
221
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
