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Model Note · AWFIS SPACE SOLUTIONS LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
AWFIS SPACE SOLUTIONS LTD Discounted cash flow · base FY26
AWFIS SPACE SOLUTIONS LTD
Value per share, this model₹562
CMP 2026-09-10₹293.70
Difference91.4%
Growth the CMP implies4.7%/yr
This note states the assumptions and the arithmetic of one model of AWFIS SPACE SOLUTIONS 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
23.5% a year
FY26 23.7% · 5-yr CAGR —%
EBITDA margin
36.8%
FY26 36.8% · 5-yr average 33.7%
Depreciation · capex, % of revenue
25.7% · 14%, fading to 1.2× depreciation
FY26 25.7% · 14.0%
Working capital, % of added revenue · tax
0% · 1.9%
-23 working-capital days · effective 1.9%
Discount rate
11.00%
1-yr beta 1.34
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(6) · ₹0 · ₹0 cr
FY26 net debt ₹(6) cr
Shares
7.16 crore
7.16 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
1,493
1,844
2,278
2,813
3,474
4,291
growth %
23.7
23.5
23.5
23.5
23.5
23.5
EBITDA
550
679
838
1,035
1,279
1,579
Depreciation
(384)
(474)
(585)
(723)
(893)
(1,103)
NOPAT
163
201
248
306
378
467
less capex
(208)
(258)
(415)
(631)
(925)
(1,323)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
417
419
399
346
247
Present value
395
358
307
240
154
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 · AWFIS SPACE SOLUTIONS LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,455
PV of the terminal value (64% of EV)
2,562
Enterprise value
4,017
less net debt
6
less non-controlling interest
0
add non-operating investments
0
Equity value
4,023
÷ 7.16 crore shares
₹562
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
579
615
658
710
775
10.5%
541
570
606
648
699
11.0%
508
533
562
597
638
11.5%
480
501
525
554
588
12.0%
455
473
494
518
546
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
