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Model Note · CYBER MEDIA RES & SER LTD · 29 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
CYBER MEDIA RES & SER LTD Discounted cash flow · base FY26
CYBER MEDIA RES & SER LTD
Value per share, this model₹124
CMP, 28 Oct 2026₹66.90
Difference85.9%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of CYBER MEDIA RES & SER 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
21% a year
FY26 21.0% · 5-yr CAGR —%
EBITDA margin
4.8%
FY26 4.8% · 5-yr average 4.3%
Depreciation · capex, % of revenue
0.1% · 0%, fading to 1.2× depreciation
FY26 0.1% · 0.0%
Working capital, % of added revenue · tax
14% · 21.5%
51 working-capital days · effective 21.5%
Discount rate
11.00%
1-yr beta 0.01
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
0.29 crore
0.29 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
91
110
133
161
195
236
growth %
21.0
21.0
21.0
21.0
21.0
21.0
EBITDA
4
5
6
8
9
11
Depreciation
(0)
(0)
(0)
(0)
(0)
(0)
NOPAT
3
4
5
6
7
9
less capex
0
0
(0)
(0)
(0)
(0)
less working-capital build
—
(3)
(3)
(4)
(5)
(6)
Free cash flow to firm
—
1
2
2
2
3
Present value
1
2
2
2
2
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 · CYBER MEDIA RES & SER LTD · 29 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
8
PV of the terminal value (79% of EV)
30
Enterprise value
38
less net debt
(2)
less non-controlling interest
0
add non-operating investments
0
Equity value
36
÷ 0.29 crore shares
₹124
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
129
139
151
167
186
10.5%
118
127
137
149
164
11.0%
109
116
124
134
146
11.5%
101
107
114
122
132
12.0%
94
99
105
112
120
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
