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Model Note · ELDECO HSG & IND LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
ELDECO HSG & IND LTD. Discounted cash flow · base FY26
ELDECO HSG & IND LTD.
Value per share, this model₹(3,760)
CMP 2026-09-10₹780.20
Difference(582.0)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of ELDECO HSG & IND 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
23% a year
FY26 23.1% · 5-yr CAGR 0.7%
EBITDA margin
18.6%
FY26 18.6% · 5-yr average 31.9%
Depreciation · capex, % of revenue
0.5% · 0%, fading to 1.2× depreciation
FY26 0.5% · 0.0%
Working capital, % of added revenue · tax
399.9% · 35.3%
1460 working-capital days · effective 35.3%
Discount rate
11.00%
1-yr beta 0.6
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(100) · ₹0 · ₹0 cr
FY26 net debt ₹(100) cr
Shares
0.98 crore
0.98 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
165
203
250
307
377
464
growth %
23.1
23.0
23.0
23.0
23.0
23.0
EBITDA
31
38
46
57
70
86
Depreciation
(1)
(1)
(1)
(2)
(2)
(2)
NOPAT
19
24
29
36
44
54
less capex
0
0
(0)
(1)
(2)
(3)
less working-capital build
—
(152)
(187)
(230)
(282)
(347)
Free cash flow to firm
—
(127)
(156)
(193)
(238)
(293)
Present value
(120)
(134)
(149)
(165)
(183)
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 · ELDECO HSG & IND LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(751)
PV of the terminal value (—% of EV)
(3,046)
Enterprise value
(3,797)
less net debt
100
less non-controlling interest
0
add non-operating investments
0
Equity value
(3,697)
÷ 0.98 crore shares
₹(3,760)
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
(3,892)
(4,200)
(4,571)
(5,024)
(5,590)
10.5%
(3,569)
(3,825)
(4,128)
(4,492)
(4,937)
11.0%
(3,292)
(3,508)
(3,760)
(4,058)
(4,415)
11.5%
(3,053)
(3,237)
(3,449)
(3,697)
(3,989)
12.0%
(2,844)
(3,002)
(3,183)
(3,391)
(3,634)
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
