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 · CENTUM ELECTRONICS LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
CENTUM ELECTRONICS LTD Discounted cash flow · base FY26
CENTUM ELECTRONICS LTD
Value per share, this model₹884
CMP 2026-09-10₹4,239.40
Difference(79.1)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of CENTUM ELECTRONICS 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
-5% a year
FY26 (17.5)% · 5-yr CAGR 3.1%
EBITDA margin
14.2%
FY26 14.2% · 5-yr average 7.8%
Depreciation · capex, % of revenue
2% · 4.2%, fading to 1.2× depreciation
FY26 2.0% · 4.2%
Working capital, % of added revenue · tax
52.8% · 12.3%
193 working-capital days · effective 12.3%
Discount rate
11.00%
1-yr beta 0.91
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹84 · ₹0 · ₹0 cr
FY26 net debt ₹84 cr
Shares
1.48 crore
1.48 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
953
905
860
817
776
737
growth %
(17.5)
(5.0)
(5.0)
(5.0)
(5.0)
(5.0)
EBITDA
135
129
122
116
110
105
Depreciation
(20)
(18)
(17)
(16)
(16)
(15)
NOPAT
102
97
92
87
83
79
less capex
(40)
(38)
(32)
(27)
(22)
(18)
less working-capital build
—
25
24
23
22
20
Free cash flow to firm
—
102
101
99
98
96
Present value
97
86
77
68
60
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 · CENTUM ELECTRONICS LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
388
PV of the terminal value (72% of EV)
1,001
Enterprise value
1,389
less net debt
(84)
less non-controlling interest
0
add non-operating investments
0
Equity value
1,305
÷ 1.48 crore shares
₹884
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
915
982
1,063
1,162
1,286
10.5%
843
899
966
1,045
1,143
11.0%
782
829
884
950
1,028
11.5%
729
769
816
870
934
12.0%
683
717
757
802
856
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
