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Model Note · Forbes Precision Tools and Mac · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
Forbes Precision Tools and Mac Discounted cash flow · base FY26
Forbes Precision Tools and Mac
Value per share, this model₹77
CMP 2026-09-10₹161.20
Difference(52.4)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of Forbes Precision Tools and Mac, 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 7.9% · 5-yr CAGR —%
EBITDA margin
21.1%
FY26 21.1% · 5-yr average 21.9%
Depreciation · capex, % of revenue
6.2% · 7.3%, fading to 1.2× depreciation
FY26 6.2% · 7.3%
Working capital, % of added revenue · tax
21.6% · 27.2%
79 working-capital days · effective 27.2%
Discount rate
11.00%
1-yr beta 0.79
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹9 · ₹0 · ₹0 cr
FY26 net debt ₹9 cr
Shares
5.16 crore
5.16 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
251
271
293
316
341
369
growth %
7.9
8.0
8.0
8.0
8.0
8.0
EBITDA
53
57
62
67
72
78
Depreciation
(16)
(17)
(18)
(20)
(21)
(23)
NOPAT
27
29
32
34
37
40
less capex
(18)
(20)
(21)
(23)
(25)
(27)
less working-capital build
—
(4)
(5)
(5)
(5)
(6)
Free cash flow to firm
—
22
24
26
27
30
Present value
21
20
20
19
18
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 · Forbes Precision Tools and Mac · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
98
PV of the terminal value (76% of EV)
307
Enterprise value
405
less net debt
(9)
less non-controlling interest
0
add non-operating investments
0
Equity value
396
÷ 5.16 crore shares
₹77
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
79
85
92
101
112
10.5%
73
78
84
91
99
11.0%
68
72
77
83
89
11.5%
63
67
71
76
81
12.0%
59
62
66
70
74
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
