The note is the current scenario (Base). Download PDF renders this page on the server, fonts and colours exact; Print uses the browser.
Model Note · Aspira Pathlab & Diagnostics L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
Aspira Pathlab & Diagnostics L Discounted cash flow · base FY25
Aspira Pathlab & Diagnostics L
Value per share, this model₹34
CMP 2026-09-10₹95.00
Difference(64.0)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of Aspira Pathlab & Diagnostics L, built on its filed FY25 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
FY25 —% · 5-yr CAGR —%
EBITDA margin
15.8%
FY25 15.8% · 5-yr average 15.8%
Depreciation · capex, % of revenue
6.8% · 1.6%, fading to 1.2× depreciation
FY25 6.8% · 1.6%
Working capital, % of added revenue · tax
9.7% · 0%
35 working-capital days · effective 0.0%
Discount rate
11.00%
1-yr beta -0.08
After FY30
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(1) · ₹0 · ₹0 cr
FY25 net debt ₹(1) cr
Shares
1.03 crore
1.03 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY25
FY26
FY27
FY28
FY29
FY30
Revenue
22
24
26
28
30
32
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
3
4
4
4
5
5
Depreciation
(1)
(2)
(2)
(2)
(2)
(2)
NOPAT
2
2
2
2
3
3
less capex
(0)
(0)
(1)
(1)
(2)
(3)
less working-capital build
—
(0)
(0)
(0)
(0)
(0)
Free cash flow to firm
—
3
3
3
3
2
Present value
3
3
2
2
1
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 · Aspira Pathlab & Diagnostics L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
11
PV of the terminal value (68% of EV)
23
Enterprise value
34
less net debt
1
less non-controlling interest
0
add non-operating investments
0
Equity value
35
÷ 1.03 crore shares
₹34
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
35
38
40
44
48
10.5%
33
35
37
40
43
11.0%
31
32
34
36
39
11.5%
29
30
32
34
36
12.0%
27
29
30
31
33
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
