The note is the current scenario (Base). Download PDF renders this page on the server, fonts and colours exact; Print uses the browser.
Model Note · CALIFORNIA SOFTWARE CO LT · 22 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
CALIFORNIA SOFTWARE CO LT Discounted cash flow · base FY26
CALIFORNIA SOFTWARE CO LT
Value per share, this model₹514
CMP 2026-09-21₹40.69
Difference1163.9%
Growth the CMP implies(20.0)%/yr
This note states the assumptions and the arithmetic of one model of CALIFORNIA SOFTWARE CO 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
30% a year
FY26 260.9% · 5-yr CAGR 68.3%
EBITDA margin
75.7%
FY26 75.7% · 5-yr average 50.5%
Depreciation · capex, % of revenue
2.9% · 1.8%, fading to 1.2× depreciation
FY26 2.9% · 1.8%
Working capital, % of added revenue · tax
85.6% · 25.8%
312 working-capital days · effective 25.8%
Discount rate
11.00%
1-yr beta 0.62
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
0.62 crore
0.62 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
20
26
33
43
56
73
growth %
260.9
30.0
30.0
30.0
30.0
30.0
EBITDA
15
19
25
33
43
55
Depreciation
(1)
(1)
(1)
(1)
(2)
(2)
NOPAT
11
14
18
23
30
39
less capex
(0)
(0)
(1)
(1)
(2)
(3)
less working-capital build
—
(5)
(7)
(9)
(11)
(14)
Free cash flow to firm
—
9
12
15
19
25
Present value
9
10
11
13
15
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 · CALIFORNIA SOFTWARE CO LT · 22 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
59
PV of the terminal value (81% of EV)
255
Enterprise value
314
less net debt
4
less non-controlling interest
0
add non-operating investments
0
Equity value
318
÷ 0.62 crore shares
₹514
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
532
573
622
683
758
10.5%
489
523
563
612
671
11.0%
452
481
514
554
602
11.5%
420
445
473
506
545
12.0%
392
413
437
465
498
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
