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Model Note · BLUE JET HEALTHCARE LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
BLUE JET HEALTHCARE LTD Discounted cash flow · base FY26
BLUE JET HEALTHCARE LTD
Value per share, this model₹152
CMP 2026-09-10₹569.95
Difference(73.3)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of BLUE JET HEALTHCARE 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
-5% a year
FY26 (8.0)% · 5-yr CAGR —%
EBITDA margin
31%
FY26 31.0% · 5-yr average 32.9%
Depreciation · capex, % of revenue
2.5% · 0%, fading to 1.2× depreciation
FY26 2.5% · 0.0%
Working capital, % of added revenue · tax
49.6% · 25.5%
181 working-capital days · effective 25.5%
Discount rate
11.00%
1-yr beta 1.61
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(61) · ₹0 · ₹0 cr
FY26 net debt ₹(61) cr
Shares
17.35 crore
17.35 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
947
900
855
812
772
733
growth %
(8.0)
(5.0)
(5.0)
(5.0)
(5.0)
(5.0)
EBITDA
294
279
265
252
239
227
Depreciation
(24)
(22)
(21)
(20)
(19)
(18)
NOPAT
201
191
182
172
164
156
less capex
0
0
(6)
(12)
(17)
(22)
less working-capital build
—
23
22
21
20
19
Free cash flow to firm
—
237
219
202
186
171
Present value
225
187
155
129
107
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 · BLUE JET HEALTHCARE LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
804
PV of the terminal value (69% of EV)
1,777
Enterprise value
2,581
less net debt
61
less non-controlling interest
0
add non-operating investments
0
Equity value
2,642
÷ 17.35 crore shares
₹152
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
157
167
179
194
213
10.5%
146
155
165
177
191
11.0%
137
144
152
162
174
11.5%
129
135
142
150
160
12.0%
122
127
133
140
148
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
