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Model Note · CAPLIN POINT LAB LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
CAPLIN POINT LAB LTD. Discounted cash flow · base FY26
CAPLIN POINT LAB LTD.
Value per share, this model₹1,361
CMP 2026-09-10₹2,752.60
Difference(50.6)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of CAPLIN POINT LAB 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
13% a year
FY26 12.9% · 5-yr CAGR 15.6%
EBITDA margin
34.8%
FY26 34.8% · 5-yr average 32.4%
Depreciation · capex, % of revenue
3.3% · 11.3%, fading to 1.2× depreciation
FY26 3.3% · 11.3%
Working capital, % of added revenue · tax
43.8% · 19.1%
160 working-capital days · effective 19.1%
Discount rate
11.00%
1-yr beta 0.89
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(94) · ₹0 · ₹0 cr
FY26 net debt ₹(94) cr
Shares
7.60 crore
7.60 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
2,187
2,472
2,793
3,156
3,566
4,030
growth %
12.9
13.0
13.0
13.0
13.0
13.0
EBITDA
761
860
972
1,098
1,241
1,402
Depreciation
(73)
(82)
(92)
(104)
(118)
(133)
NOPAT
557
630
712
804
909
1,027
less capex
(248)
(279)
(264)
(241)
(207)
(160)
less working-capital build
—
(125)
(141)
(159)
(180)
(203)
Free cash flow to firm
—
308
399
509
640
797
Present value
292
341
392
444
498
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 · CAPLIN POINT LAB LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,967
PV of the terminal value (81% of EV)
8,280
Enterprise value
10,247
less net debt
94
less non-controlling interest
0
add non-operating investments
0
Equity value
10,341
÷ 7.60 crore shares
₹1,361
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
1,407
1,515
1,646
1,805
2,004
10.5%
1,293
1,384
1,490
1,618
1,774
11.0%
1,196
1,272
1,361
1,465
1,591
11.5%
1,112
1,177
1,251
1,338
1,441
12.0%
1,039
1,094
1,158
1,231
1,317
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
