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Model Note · GABRIEL INDIA LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
GABRIEL INDIA LTD Discounted cash flow · base FY26
GABRIEL INDIA LTD
Value per share, this model₹258
CMP 2026-09-10₹1,344.00
Difference(80.8)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of GABRIEL INDIA 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
15% a year
FY26 14.9% · 5-yr CAGR —%
EBITDA margin
9.1%
FY26 9.1% · 5-yr average 9.1%
Depreciation · capex, % of revenue
2.1% · 4%, fading to 1.2× depreciation
FY26 2.1% · 4.0%
Working capital, % of added revenue · tax
7.5% · 25%
27 working-capital days · effective 25.0%
Discount rate
11.00%
1-yr beta 1.31
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹35 · ₹0 · ₹0 cr
FY26 net debt ₹35 cr
Shares
17.72 crore
17.72 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
4,667
5,367
6,172
7,098
8,162
9,387
growth %
14.9
15.0
15.0
15.0
15.0
15.0
EBITDA
424
488
562
646
743
854
Depreciation
(100)
(113)
(130)
(149)
(171)
(197)
NOPAT
243
282
324
373
429
493
less capex
(189)
(215)
(224)
(231)
(236)
(237)
less working-capital build
—
(53)
(60)
(69)
(80)
(92)
Free cash flow to firm
—
127
169
221
284
362
Present value
121
145
170
197
226
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 · GABRIEL INDIA LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
859
PV of the terminal value (81% of EV)
3,755
Enterprise value
4,614
less net debt
(35)
less non-controlling interest
0
add non-operating investments
0
Equity value
4,579
÷ 17.72 crore shares
₹258
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
267
288
314
345
383
10.5%
245
263
284
308
339
11.0%
226
241
258
279
303
11.5%
210
223
237
254
274
12.0%
196
207
219
233
250
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
