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Model Note · BOMBAY CYCLE & MOTOR AGENCY LT · 29 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
BOMBAY CYCLE & MOTOR AGENCY LT Discounted cash flow · base FY26
BOMBAY CYCLE & MOTOR AGENCY LT
Value per share, this model₹987
CMP, 26 Oct 2026₹1,520.00
Difference(35.1)%
Growth the CMP implies33.9%/yr
This note states the assumptions and the arithmetic of one model of BOMBAY CYCLE & MOTOR AGENCY LT, 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
20% a year
FY26 19.8% · 5-yr CAGR —%
EBITDA margin
14.9%
FY26 14.9% · 5-yr average 5.5%
Depreciation · capex, % of revenue
3.1% · 0.8%, fading to 1.2× depreciation
FY26 3.1% · 0.8%
Working capital, % of added revenue · tax
6.7% · 7%
25 working-capital days · effective 7.0%
Discount rate
11.00%
1-yr beta 0.42
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(1) · ₹0 · ₹0 cr
FY26 net debt ₹(1) cr
Shares
0.04 crore
0.04 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
12
15
18
21
26
31
growth %
19.8
20.0
20.0
20.0
20.0
20.0
EBITDA
2
2
3
3
4
5
Depreciation
(0)
(0)
(1)
(1)
(1)
(1)
NOPAT
1
2
2
2
3
3
less capex
(0)
(0)
(0)
(0)
(1)
(1)
less working-capital build
—
(0)
(0)
(0)
(0)
(0)
Free cash flow to firm
—
2
2
2
3
3
Present value
2
2
2
2
2
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 · BOMBAY CYCLE & MOTOR AGENCY LT · 29 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
9
PV of the terminal value (77% of EV)
30
Enterprise value
38
less net debt
1
less non-controlling interest
0
add non-operating investments
0
Equity value
39
÷ 0.04 crore shares
₹987
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
1,019
1,093
1,181
1,290
1,425
10.5%
941
1,002
1,075
1,162
1,268
11.0%
875
926
987
1,058
1,143
11.5%
817
861
912
971
1,041
12.0%
767
805
848
898
956
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
