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Model Note · Cospower Engineering Limited · 6 November 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
Cospower Engineering Limited Discounted cash flow · base FY26
Cospower Engineering Limited
Value per share, this model₹3,393
CMP, 6 Nov 2026₹2,762.70
Difference22.8%
Growth the CMP implies23.5%/yr
This note states the assumptions and the arithmetic of one model of Cospower Engineering Limited, built on its filed FY26 standalone 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 286.9% · 5-yr CAGR 54.7%
EBITDA margin
19.7%
FY26 19.7% · 5-yr average 11.9%
Depreciation · capex, % of revenue
0% · 2.9%, fading to 1.2× depreciation
FY26 0.0% · 2.9%
Working capital, % of added revenue · tax
9.8% · 30.6%
36 working-capital days · effective 30.6%
Discount rate
11.00%
1-yr beta -0.16
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
0.17 crore
0.17 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
107
139
181
235
306
398
growth %
286.9
30.0
30.0
30.0
30.0
30.0
EBITDA
21
27
36
46
60
78
Depreciation
0
0
0
0
0
0
NOPAT
15
19
25
32
42
54
less capex
(3)
(4)
(4)
(3)
(2)
0
less working-capital build
—
(3)
(4)
(5)
(7)
(9)
Free cash flow to firm
—
12
17
23
33
45
Present value
11
14
18
23
28
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 · Cospower Engineering Limited · 6 November 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
95
PV of the terminal value (83% of EV)
472
Enterprise value
566
less net debt
2
less non-controlling interest
0
add non-operating investments
0
Equity value
568
÷ 0.17 crore shares
₹3,393
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
3,510
3,791
4,127
4,539
5,053
10.5%
3,218
3,451
3,726
4,057
4,461
11.0%
2,967
3,164
3,393
3,663
3,988
11.5%
2,751
2,918
3,111
3,336
3,601
12.0%
2,562
2,706
2,870
3,059
3,280
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
