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Model Note · CANARA ROBECO AMC LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
CANARA ROBECO AMC LIMITED Discounted cash flow · base FY26
CANARA ROBECO AMC LIMITED
Value per share, this model₹180
CMP 2026-09-10₹239.40
Difference(24.6)%
Growth the CMP implies15.3%/yr
This note states the assumptions and the arithmetic of one model of CANARA ROBECO AMC LIMITED, 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
8% a year
FY26 —% · 5-yr CAGR —%
EBITDA margin
59.8%
FY26 59.8% · 5-yr average 59.8%
Depreciation · capex, % of revenue
1.7% · 1.4%, fading to 1.2× depreciation
FY26 1.7% · 1.4%
Working capital, % of added revenue · tax
10.5% · 25.8%
39 working-capital days · effective 25.8%
Discount rate
11.00%
1-yr beta 1.4
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(2) · ₹0 · ₹0 cr
FY26 net debt ₹(2) cr
Shares
19.94 crore
19.94 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
425
459
496
535
578
624
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
254
274
296
320
346
373
Depreciation
(7)
(8)
(8)
(9)
(10)
(11)
NOPAT
183
198
214
231
249
269
less capex
(6)
(6)
(8)
(9)
(11)
(13)
less working-capital build
—
(4)
(4)
(4)
(4)
(5)
Free cash flow to firm
—
196
211
227
244
262
Present value
186
180
174
169
164
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 · CANARA ROBECO AMC LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
873
PV of the terminal value (76% of EV)
2,723
Enterprise value
3,596
less net debt
2
less non-controlling interest
0
add non-operating investments
0
Equity value
3,598
÷ 19.94 crore shares
₹180
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
186
200
216
236
261
10.5%
172
183
197
213
232
11.0%
160
169
180
194
209
11.5%
149
157
167
178
190
12.0%
140
147
155
164
175
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
