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Model Note · DYNAVISION LTD. · 9 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
DYNAVISION LTD. Discounted cash flow · base FY26
DYNAVISION LTD.
Value per share, this model₹293
CMP, 8 Oct 2026₹226.25
Difference29.5%
Growth the CMP implies(2.0)%/yr
This note states the assumptions and the arithmetic of one model of DYNAVISION 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
3% a year
FY26 2.8% · 5-yr CAGR —%
EBITDA margin
75.6%
FY26 75.6% · 5-yr average 78.2%
Depreciation · capex, % of revenue
16.6% · 1.6%, fading to 1.2× depreciation
FY26 16.6% · 1.6%
Working capital, % of added revenue · tax
0% · -3.2%
-1 working-capital days · effective (3.2)%
Discount rate
11.00%
1-yr beta 0.67
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹20 · ₹0 · ₹0 cr
FY26 net debt ₹20 cr
Shares
0.38 crore
0.38 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
14
14
14
15
15
16
growth %
2.8
3.0
3.0
3.0
3.0
3.0
EBITDA
10
11
11
11
12
12
Depreciation
(2)
(2)
(2)
(2)
(3)
(3)
NOPAT
8
8
9
9
9
10
less capex
(0)
(0)
(1)
(2)
(2)
(3)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
11
10
10
9
9
Present value
10
9
8
7
6
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 · DYNAVISION LTD. · 9 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
39
PV of the terminal value (71% of EV)
94
Enterprise value
132
less net debt
(20)
less non-controlling interest
0
add non-operating investments
0
Equity value
112
÷ 0.38 crore shares
₹293
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
304
328
357
393
438
10.5%
278
298
322
351
386
11.0%
256
273
293
316
345
11.5%
237
251
268
288
311
12.0%
220
233
247
263
282
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
