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Model Note · GEECEE VENTURES LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
GEECEE VENTURES LIMITED Discounted cash flow · base FY26
GEECEE VENTURES LIMITED
Value per share, this model₹519
CMP 2026-09-10₹368.00
Difference41.0%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of GEECEE VENTURES 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
-5% a year
FY26 (44.6)% · 5-yr CAGR 12.0%
EBITDA margin
69.8%
FY26 69.8% · 5-yr average 45.2%
Depreciation · capex, % of revenue
2.9% · 0.8%, fading to 1.2× depreciation
FY26 2.9% · 0.8%
Working capital, % of added revenue · tax
874.5% · 17.1%
3192 working-capital days · effective 17.1%
Discount rate
11.00%
1-yr beta 1.19
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(219) · ₹0 · ₹0 cr
FY26 net debt ₹(219) cr
Shares
2.09 crore
2.09 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
75
71
68
64
61
58
growth %
(44.6)
(5.0)
(5.0)
(5.0)
(5.0)
(5.0)
EBITDA
52
50
47
45
43
40
Depreciation
(2)
(2)
(2)
(2)
(2)
(2)
NOPAT
41
39
37
36
34
32
less capex
(1)
(1)
(1)
(1)
(2)
(2)
less working-capital build
—
33
31
30
28
27
Free cash flow to firm
—
74
69
66
62
58
Present value
70
59
51
43
37
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 · GEECEE VENTURES LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
259
PV of the terminal value (70% of EV)
607
Enterprise value
866
less net debt
219
less non-controlling interest
0
add non-operating investments
0
Equity value
1,085
÷ 2.09 crore shares
₹519
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
532
561
595
638
691
10.5%
501
525
554
588
629
11.0%
475
495
519
547
580
11.5%
452
469
489
513
540
12.0%
432
447
464
484
506
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
