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Model Note · BOSCH HOME COMFRT IND LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
BOSCH HOME COMFRT IND LTD Discounted cash flow · base FY26
BOSCH HOME COMFRT IND LTD
Value per share, this model₹2,726
CMP 2026-09-10₹1,712.00
Difference59.2%
Growth the CMP implies(13.2)%/yr
This note states the assumptions and the arithmetic of one model of BOSCH HOME COMFRT IND 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
-2% a year
FY26 (2.1)% · 5-yr CAGR 10.4%
EBITDA margin
1.8%
FY26 1.8% · 5-yr average 1.6%
Depreciation · capex, % of revenue
2.1% · 3.7%, fading to 1.2× depreciation
FY26 2.1% · 3.7%
Working capital, % of added revenue · tax
8.9% · 7250%
33 working-capital days · effective 7250.0%
Discount rate
11.00%
1-yr beta 0.8
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹4 · ₹0 · ₹0 cr
FY26 net debt ₹4 cr
Shares
2.72 crore
2.72 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
2,699
2,645
2,592
2,540
2,489
2,439
growth %
(2.1)
(2.0)
(2.0)
(2.0)
(2.0)
(2.0)
EBITDA
49
48
47
46
45
44
Depreciation
(58)
(56)
(54)
(53)
(52)
(51)
NOPAT
602
567
556
545
534
523
less capex
(99)
(98)
(88)
(79)
(70)
(61)
less working-capital build
—
5
5
5
5
4
Free cash flow to firm
—
530
527
524
521
517
Present value
503
450
404
361
324
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 · BOSCH HOME COMFRT IND LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
2,042
PV of the terminal value (72% of EV)
5,374
Enterprise value
7,415
less net debt
(4)
less non-controlling interest
0
add non-operating investments
0
Equity value
7,411
÷ 2.72 crore shares
₹2,726
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
2,813
3,010
3,247
3,535
3,896
10.5%
2,605
2,769
2,962
3,195
3,478
11.0%
2,427
2,565
2,726
2,916
3,144
11.5%
2,273
2,390
2,526
2,683
2,870
12.0%
2,138
2,239
2,354
2,487
2,642
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
