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Model Note · AVENUE SUPERMARTS LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
AVENUE SUPERMARTS LIMITED Discounted cash flow · base FY26
AVENUE SUPERMARTS LIMITED
Value per share, this model₹759
CMP 2026-09-10₹3,688.00
Difference(79.4)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of AVENUE SUPERMARTS LIMITED, 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
16% a year
FY26 15.9% · 5-yr CAGR 23.3%
EBITDA margin
7.5%
FY26 7.5% · 5-yr average 7.9%
Depreciation · capex, % of revenue
1.5% · 6%, fading to 1.2× depreciation
FY26 1.5% · 6.0%
Working capital, % of added revenue · tax
6.8% · 27.2%
25 working-capital days · effective 27.2%
Discount rate
11.00%
1-yr beta 0.54
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹2,141 · ₹0 · ₹0 cr
FY26 net debt ₹2,141 cr
Shares
65.23 crore
65.23 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
68,821
79,832
92,605
1,07,422
1,24,610
1,44,547
growth %
15.9
16.0
16.0
16.0
16.0
16.0
EBITDA
5,187
5,987
6,945
8,057
9,346
10,841
Depreciation
(1,037)
(1,197)
(1,389)
(1,611)
(1,869)
(2,168)
NOPAT
3,021
3,487
4,045
4,692
5,443
6,314
less capex
(4,113)
(4,790)
(4,584)
(4,189)
(3,551)
(2,602)
less working-capital build
—
(749)
(869)
(1,008)
(1,169)
(1,356)
Free cash flow to firm
—
(854)
(18)
1,107
2,592
4,524
Present value
(811)
(16)
852
1,799
2,829
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 · AVENUE SUPERMARTS LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
4,654
PV of the terminal value (91% of EV)
46,988
Enterprise value
51,642
less net debt
(2,141)
less non-controlling interest
0
add non-operating investments
0
Equity value
49,501
÷ 65.23 crore shares
₹759
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
788
860
946
1,051
1,183
10.5%
714
773
844
928
1,032
11.0%
650
700
759
828
911
11.5%
595
638
687
745
813
12.0%
547
584
626
675
731
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
