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Model Note · DESTINY LOGISTICS & I LTD · 29 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
DESTINY LOGISTICS & I LTD Discounted cash flow · base FY26
DESTINY LOGISTICS & I LTD
Value per share, this model₹(28)
CMP, 23 Oct 2026₹95.65
Difference(129.0)%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of DESTINY LOGISTICS & I LTD, 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
16.5% a year
FY26 16.4% · 5-yr CAGR —%
EBITDA margin
4.2%
FY26 4.2% · 5-yr average 4.2%
Depreciation · capex, % of revenue
0.3% · 10.5%, fading to 1.2× depreciation
FY26 0.3% · 10.5%
Working capital, % of added revenue · tax
29% · 19.2%
106 working-capital days · effective 19.2%
Discount rate
11.00%
1-yr beta 0.34
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹13 · ₹0 · ₹0 cr
FY26 net debt ₹13 cr
Shares
2.14 crore
2.14 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
79
92
107
125
146
170
growth %
16.4
16.5
16.5
16.5
16.5
16.5
EBITDA
3
4
5
5
6
7
Depreciation
(0)
(0)
(0)
(0)
(0)
(1)
NOPAT
2
3
3
4
5
5
less capex
(8)
(10)
(9)
(7)
(4)
(1)
less working-capital build
—
(4)
(4)
(5)
(6)
(7)
Free cash flow to firm
—
(10)
(9)
(8)
(5)
(2)
Present value
(10)
(8)
(6)
(4)
(1)
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 · DESTINY LOGISTICS & I LTD · 29 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(28)
PV of the terminal value (—% of EV)
(18)
Enterprise value
(46)
less net debt
(13)
less non-controlling interest
0
add non-operating investments
0
Equity value
(59)
÷ 2.14 crore shares
₹(28)
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
(28)
(29)
(30)
(31)
(33)
10.5%
(27)
(28)
(29)
(30)
(31)
11.0%
(26)
(27)
(28)
(29)
(29)
11.5%
(26)
(26)
(27)
(27)
(28)
12.0%
(25)
(25)
(26)
(27)
(27)
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
