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Model Note · BHAGWATI AUTOCAST LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
BHAGWATI AUTOCAST LTD. Discounted cash flow · base FY26
BHAGWATI AUTOCAST LTD.
Value per share, this model₹1,125
CMP 2026-09-10₹655.00
Difference71.8%
Growth the CMP implies1.0%/yr
This note states the assumptions and the arithmetic of one model of BHAGWATI AUTOCAST 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
22.5% a year
FY26 22.4% · 5-yr CAGR 10.4%
EBITDA margin
13.5%
FY26 13.5% · 5-yr average 8.6%
Depreciation · capex, % of revenue
2% · 2.3%, fading to 1.2× depreciation
FY26 2.0% · 2.3%
Working capital, % of added revenue · tax
12.1% · 31.3%
44 working-capital days · effective 31.3%
Discount rate
11.00%
1-yr beta 1.05
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹0 · ₹0 · ₹0 cr
FY26 net debt ₹(0) cr
Shares
0.29 crore
0.29 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
171
210
257
315
386
472
growth %
22.4
22.5
22.5
22.5
22.5
22.5
EBITDA
23
28
35
42
52
64
Depreciation
(3)
(4)
(5)
(6)
(8)
(9)
NOPAT
14
17
20
25
30
37
less capex
(4)
(5)
(6)
(7)
(9)
(11)
less working-capital build
—
(5)
(6)
(7)
(9)
(10)
Free cash flow to firm
—
11
14
17
20
25
Present value
11
12
13
14
16
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 · BHAGWATI AUTOCAST LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
65
PV of the terminal value (80% of EV)
259
Enterprise value
324
less net debt
0
less non-controlling interest
0
add non-operating investments
0
Equity value
324
÷ 0.29 crore shares
₹1,125
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
1,163
1,253
1,360
1,492
1,656
10.5%
1,069
1,144
1,232
1,337
1,466
11.0%
989
1,052
1,125
1,211
1,315
11.5%
920
973
1,035
1,107
1,191
12.0%
859
905
957
1,018
1,088
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
