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Model Note · E FACTOR EXPERIENCES LTD · 28 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
E FACTOR EXPERIENCES LTD Discounted cash flow · base FY26
E FACTOR EXPERIENCES LTD
Value per share, this model₹168
CMP, 27 Oct 2026₹186.00
Difference(9.5)%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of E FACTOR EXPERIENCES 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
11.5% a year
FY26 11.6% · 5-yr CAGR —%
EBITDA margin
15%
FY26 15.0% · 5-yr average 15.0%
Depreciation · capex, % of revenue
1% · 5.1%, fading to 1.2× depreciation
FY26 1.0% · 5.1%
Working capital, % of added revenue · tax
40.1% · 25.7%
146 working-capital days · effective 25.7%
Discount rate
11.00%
1-yr beta 1.12
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹29 · ₹0 · ₹0 cr
FY26 net debt ₹29 cr
Shares
1.31 crore
1.31 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
191
213
238
265
296
330
growth %
11.6
11.5
11.5
11.5
11.5
11.5
EBITDA
29
32
36
40
44
49
Depreciation
(2)
(2)
(2)
(3)
(3)
(3)
NOPAT
20
22
25
28
31
34
less capex
(10)
(11)
(10)
(8)
(6)
(4)
less working-capital build
—
(9)
(10)
(11)
(12)
(14)
Free cash flow to firm
—
5
7
11
15
20
Present value
4
6
8
10
13
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 · E FACTOR EXPERIENCES LTD · 28 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
42
PV of the terminal value (83% of EV)
208
Enterprise value
250
less net debt
(29)
less non-controlling interest
0
add non-operating investments
0
Equity value
221
÷ 1.31 crore shares
₹168
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
175
191
210
233
262
10.5%
158
172
187
206
228
11.0%
144
155
168
184
202
11.5%
132
142
152
165
180
12.0%
122
130
139
150
162
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
