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Model Note · GAUDIUM IVF N WOMEN H L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
GAUDIUM IVF N WOMEN H L
Discounted cash flow · base FY26

GAUDIUM IVF N WOMEN H L

Value per share, this model62
CMP 2026-09-10118.10
Difference(47.6)%
Growth the CMP implies37.7%/yr

This note states the assumptions and the arithmetic of one model of GAUDIUM IVF N WOMEN H L, 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

InputThis modelFiled reference
Revenue growth, 5 years8% a yearFY26 % · 5-yr CAGR %
EBITDA margin36.1%FY26 36.1% · 5-yr average 36.1%
Depreciation · capex, % of revenue2.4% · 2%, fading to 1.2× depreciationFY26 2.4% · 2.0%
Working capital, % of added revenue · tax42.8% · 23.9%156 working-capital days · effective 23.9%
Discount rate11.00%1-yr beta 1.34
After FY315% flat · mid-year discounting
Net debt · non-controlling interest · non-operating investments14 · ₹0 · ₹0 crFY26 net debt ₹14 cr
Shares7.28 crore7.28 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.

Projected cash flow to the firm

₹ croreFY26FY27FY28FY29FY30FY31
Revenue104113122131142153
growth %8.08.08.08.08.0
EBITDA384144475155
Depreciation(3)(3)(3)(3)(3)(4)
NOPAT272931343639
less capex(2)(2)(3)(3)(4)(4)
less working-capital build(4)(4)(4)(5)(5)
Free cash flow to firm2628293234
Present value2424232221
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 · GAUDIUM IVF N WOMEN H L · 11 September 2026Page 2 of 2

From enterprise to equity

PV of the 5 explicit years114
PV of the terminal value (75% of EV)350
Enterprise value464
less net debt(14)
less non-controlling interest0
add non-operating investments0
Equity value450
÷ 7.28 crore shares62
Source: the model.

Sensitivity, ₹ per share

WACC ↓ · terminal growth →4.0%4.5%5.0%5.5%6.0%
10.0%6469748290
10.5%5963687380
11.0%5558626672
11.5%5154576165
12.0%4850535660
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