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Model Note · ALLIED DIGITAL SERV. LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
ALLIED DIGITAL SERV. LTD Discounted cash flow · base FY26
ALLIED DIGITAL SERV. LTD
Value per share, this model₹(54)
CMP 2026-09-10₹100.75
Difference(153.7)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of ALLIED DIGITAL SERV. 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
20% a year
FY26 19.9% · 5-yr CAGR 22.0%
EBITDA margin
5.7%
FY26 5.7% · 5-yr average 11.4%
Depreciation · capex, % of revenue
2.1% · 1%, fading to 1.2× depreciation
FY26 2.1% · 1.0%
Working capital, % of added revenue · tax
22.1% · 18.5%
81 working-capital days · effective 18.5%
Discount rate
11.00%
1-yr beta 1.58
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(17) · ₹0 · ₹0 cr
FY26 net debt ₹(17) cr
Shares
5.66 crore
5.66 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
968
1,161
1,394
1,673
2,007
2,408
growth %
19.9
20.0
20.0
20.0
20.0
20.0
EBITDA
55
66
79
95
114
137
Depreciation
(20)
(24)
(29)
(35)
(42)
(51)
NOPAT
28
34
41
49
59
71
less capex
(10)
(12)
(19)
(29)
(43)
(61)
less working-capital build
—
(43)
(51)
(62)
(74)
(89)
Free cash flow to firm
—
4
(0)
(7)
(16)
(28)
Present value
4
(0)
(5)
(11)
(18)
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 · ALLIED DIGITAL SERV. LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(30)
PV of the terminal value (—% of EV)
(292)
Enterprise value
(323)
less net debt
17
less non-controlling interest
0
add non-operating investments
0
Equity value
(306)
÷ 5.66 crore shares
₹(54)
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
(56)
(61)
(68)
(75)
(85)
10.5%
(51)
(55)
(60)
(66)
(74)
11.0%
(46)
(50)
(54)
(59)
(65)
11.5%
(42)
(45)
(49)
(53)
(58)
12.0%
(39)
(42)
(45)
(48)
(52)
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
