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Model Note · ERIS LIFESCIENCES LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
ERIS LIFESCIENCES LIMITED Discounted cash flow · base FY26
ERIS LIFESCIENCES LIMITED
Value per share, this model₹890
CMP 2026-09-10₹1,358.00
Difference(34.5)%
Growth the CMP implies19.8%/yr
This note states the assumptions and the arithmetic of one model of ERIS LIFESCIENCES LIMITED, 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
8% a year
FY26 8.1% · 5-yr CAGR 20.9%
EBITDA margin
35.2%
FY26 35.2% · 5-yr average 34.4%
Depreciation · capex, % of revenue
8.9% · 9.5%, fading to 1.2× depreciation
FY26 8.9% · 9.5%
Working capital, % of added revenue · tax
25.2% · -1.4%
92 working-capital days · effective (1.4)%
Discount rate
11.00%
1-yr beta 0.56
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹2,255 · ₹0 · ₹0 cr
FY26 net debt ₹2,255 cr
Shares
13.86 crore
13.86 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
3,129
3,380
3,650
3,942
4,258
4,598
growth %
8.1
8.0
8.0
8.0
8.0
8.0
EBITDA
1,103
1,190
1,285
1,388
1,499
1,619
Depreciation
(280)
(301)
(325)
(351)
(379)
(409)
NOPAT
835
901
973
1,051
1,135
1,226
less capex
(297)
(321)
(358)
(398)
(442)
(491)
less working-capital build
—
(63)
(68)
(74)
(79)
(86)
Free cash flow to firm
—
818
873
931
993
1,059
Present value
776
746
717
689
662
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 · ERIS LIFESCIENCES LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
3,590
PV of the terminal value (75% of EV)
10,994
Enterprise value
14,584
less net debt
(2,255)
less non-controlling interest
0
add non-operating investments
0
Equity value
12,329
÷ 13.86 crore shares
₹890
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
924
1,003
1,098
1,214
1,359
10.5%
841
907
984
1,077
1,191
11.0%
770
825
890
966
1,057
11.5%
708
755
809
873
948
12.0%
654
695
741
794
856
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
