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Model Note · AFFORD ROBO & AUTO LTD · 9 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
AFFORD ROBO & AUTO LTD Discounted cash flow · base FY26
AFFORD ROBO & AUTO LTD
Value per share, this model₹77
CMP, 8 Oct 2026₹157.00
Difference(50.8)%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of AFFORD ROBO & AUTO 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
-5% a year
FY26 (27.6)% · 5-yr CAGR 16.0%
EBITDA margin
11.8%
FY26 11.8% · 5-yr average 4.9%
Depreciation · capex, % of revenue
2% · 4.1%, fading to 1.2× depreciation
FY26 2.0% · 4.1%
Working capital, % of added revenue · tax
98.9% · 29.5%
361 working-capital days · effective 29.5%
Discount rate
11.00%
1-yr beta 1.26
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹62 · ₹0 · ₹0 cr
FY26 net debt ₹62 cr
Shares
1.19 crore
1.19 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
118
112
106
101
96
91
growth %
(27.6)
(5.0)
(5.0)
(5.0)
(5.0)
(5.0)
EBITDA
14
13
13
12
11
11
Depreciation
(2)
(2)
(2)
(2)
(2)
(2)
NOPAT
8
8
7
7
7
6
less capex
(5)
(5)
(4)
(3)
(3)
(2)
less working-capital build
—
6
6
5
5
5
Free cash flow to firm
—
11
11
11
11
11
Present value
11
9
8
8
7
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 · AFFORD ROBO & AUTO LTD · 9 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
43
PV of the terminal value (72% of EV)
111
Enterprise value
153
less net debt
(62)
less non-controlling interest
0
add non-operating investments
0
Equity value
91
÷ 1.19 crore shares
₹77
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
81
91
102
116
133
10.5%
72
79
88
99
113
11.0%
63
70
77
86
97
11.5%
56
61
68
75
84
12.0%
49
54
60
66
73
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
