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Model Note · Artificial Electronics Intelli · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
Artificial Electronics Intelli Discounted cash flow · base FY26
Artificial Electronics Intelli
Value per share, this model₹161
CMP 2026-09-10₹79.78
Difference102.3%
Growth the CMP implies(20.0)%/yr
This note states the assumptions and the arithmetic of one model of Artificial Electronics Intelli, 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
32.8%
FY26 32.8% · 5-yr average 32.8%
Depreciation · capex, % of revenue
0.9% · 5.9%, fading to 1.2× depreciation
FY26 0.9% · 5.9%
Working capital, % of added revenue · tax
68.6% · 25.3%
251 working-capital days · effective 25.3%
Discount rate
11.00%
1-yr beta 1.07
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹96 · ₹0 · ₹0 cr
FY26 net debt ₹96 cr
Shares
2.77 crore
2.77 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
150
162
175
189
204
221
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
49
53
57
62
67
72
Depreciation
(1)
(1)
(2)
(2)
(2)
(2)
NOPAT
36
39
42
45
49
53
less capex
(9)
(10)
(8)
(7)
(5)
(2)
less working-capital build
—
(8)
(9)
(10)
(10)
(11)
Free cash flow to firm
—
22
26
31
35
41
Present value
21
22
24
25
26
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 · Artificial Electronics Intelli · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
117
PV of the terminal value (78% of EV)
425
Enterprise value
543
less net debt
(96)
less non-controlling interest
0
add non-operating investments
0
Equity value
447
÷ 2.77 crore shares
₹161
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
168
183
202
224
252
10.5%
152
165
180
198
220
11.0%
138
149
161
176
194
11.5%
126
135
146
158
173
12.0%
116
124
133
143
155
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
