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Model Note · CANTABIL RETAIL LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
CANTABIL RETAIL LTD Discounted cash flow · base FY26
CANTABIL RETAIL LTD
Value per share, this model₹267
CMP 2026-09-10₹241.50
Difference10.7%
Growth the CMP implies11.2%/yr
This note states the assumptions and the arithmetic of one model of CANTABIL RETAIL 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
18% a year
FY26 18.2% · 5-yr CAGR 27.6%
EBITDA margin
31%
FY26 31.0% · 5-yr average 29.0%
Depreciation · capex, % of revenue
11.7% · 7.5%, fading to 1.2× depreciation
FY26 11.7% · 7.5%
Working capital, % of added revenue · tax
28.5% · 24.1%
104 working-capital days · effective 24.1%
Discount rate
11.00%
1-yr beta 1.04
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(25) · ₹0 · ₹0 cr
FY26 net debt ₹(25) cr
Shares
8.36 crore
8.36 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
853
1,006
1,187
1,401
1,653
1,950
growth %
18.2
18.0
18.0
18.0
18.0
18.0
EBITDA
264
312
368
434
512
605
Depreciation
(100)
(118)
(139)
(164)
(193)
(228)
NOPAT
125
147
174
205
242
286
less capex
(64)
(75)
(108)
(151)
(205)
(274)
less working-capital build
—
(44)
(52)
(61)
(72)
(85)
Free cash flow to firm
—
146
153
157
159
155
Present value
138
131
121
110
97
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 · CANTABIL RETAIL LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
597
PV of the terminal value (73% of EV)
1,613
Enterprise value
2,210
less net debt
25
less non-controlling interest
0
add non-operating investments
0
Equity value
2,235
÷ 8.36 crore shares
₹267
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
276
295
318
346
381
10.5%
255
271
290
313
341
11.0%
238
252
267
286
308
11.5%
223
235
248
263
281
12.0%
210
220
231
244
259
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
