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Model Note · DAM CAPITAL ADVISORS LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
DAM CAPITAL ADVISORS LTD Discounted cash flow · base FY26
DAM CAPITAL ADVISORS LTD
Value per share, this model₹130
CMP 2026-09-10₹142.90
Difference(9.2)%
Growth the CMP implies(2.8)%/yr
This note states the assumptions and the arithmetic of one model of DAM CAPITAL ADVISORS 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 (5.2)% · 5-yr CAGR —%
EBITDA margin
50.9%
FY26 50.9% · 5-yr average 54.7%
Depreciation · capex, % of revenue
6% · 2.5%, fading to 1.2× depreciation
FY26 6.0% · 2.5%
Working capital, % of added revenue · tax
0% · 25.5%
0 working-capital days · effective 25.5%
Discount rate
11.00%
1-yr beta 1.56
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(22) · ₹0 · ₹0 cr
FY26 net debt ₹(22) cr
Shares
7.07 crore
7.07 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
237
225
214
203
193
183
growth %
(5.2)
(5.0)
(5.0)
(5.0)
(5.0)
(5.0)
EBITDA
121
115
109
103
98
93
Depreciation
(14)
(14)
(13)
(12)
(12)
(11)
NOPAT
79
75
72
68
65
61
less capex
(6)
(6)
(8)
(10)
(12)
(13)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
83
77
70
65
59
Present value
79
65
54
45
37
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 · DAM CAPITAL ADVISORS LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
280
PV of the terminal value (69% of EV)
615
Enterprise value
895
less net debt
22
less non-controlling interest
0
add non-operating investments
0
Equity value
917
÷ 7.07 crore shares
₹130
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
134
142
153
165
181
10.5%
124
132
140
150
163
11.0%
117
123
130
138
148
11.5%
110
115
121
128
136
12.0%
104
108
113
119
126
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
