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Model Note · CROWN LIFTERS LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
CROWN LIFTERS LIMITED Discounted cash flow · base FY26
CROWN LIFTERS LIMITED
Value per share, this model₹89
CMP 2026-09-10₹112.40
Difference(21.1)%
Growth the CMP implies16.9%/yr
This note states the assumptions and the arithmetic of one model of CROWN LIFTERS 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
13.5% a year
FY26 13.4% · 5-yr CAGR —%
EBITDA margin
52.7%
FY26 52.7% · 5-yr average 57.2%
Depreciation · capex, % of revenue
18.5% · 74.8%, fading to 1.2× depreciation
FY26 18.5% · 74.8%
Working capital, % of added revenue · tax
0% · 25.7%
-440 working-capital days · effective 25.7%
Discount rate
11.00%
1-yr beta 1.14
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹57 · ₹0 · ₹0 cr
FY26 net debt ₹57 cr
Shares
1.16 crore
1.16 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
40
45
51
58
66
75
growth %
13.4
13.5
13.5
13.5
13.5
13.5
EBITDA
21
24
27
31
35
39
Depreciation
(7)
(8)
(9)
(11)
(12)
(14)
NOPAT
10
11
13
15
17
19
less capex
(30)
(34)
(32)
(28)
(23)
(17)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
(14)
(9)
(3)
6
16
Present value
(13)
(8)
(2)
4
10
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 · CROWN LIFTERS LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(9)
PV of the terminal value (106% of EV)
169
Enterprise value
160
less net debt
(57)
less non-controlling interest
0
add non-operating investments
0
Equity value
103
÷ 1.16 crore shares
₹89
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
94
109
126
147
174
10.5%
79
91
106
123
144
11.0%
67
77
89
103
119
11.5%
56
64
74
86
100
12.0%
46
54
62
72
83
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
