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Model Note · GPT HEALTHCARE LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
GPT HEALTHCARE LIMITED Discounted cash flow · base FY26
GPT HEALTHCARE LIMITED
Value per share, this model₹126
CMP 2026-09-10₹158.01
Difference(20.0)%
Growth the CMP implies21.6%/yr
This note states the assumptions and the arithmetic of one model of GPT HEALTHCARE 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
16% a year
FY26 16.1% · 5-yr CAGR —%
EBITDA margin
17.8%
FY26 17.8% · 5-yr average 20.1%
Depreciation · capex, % of revenue
5.7% · 8.8%, fading to 1.2× depreciation
FY26 5.7% · 8.8%
Working capital, % of added revenue · tax
0% · 23%
-8 working-capital days · effective 23.0%
Discount rate
11.00%
1-yr beta 0.5
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹12 · ₹0 · ₹0 cr
FY26 net debt ₹12 cr
Shares
8.21 crore
8.21 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
473
548
636
738
856
993
growth %
16.1
16.0
16.0
16.0
16.0
16.0
EBITDA
84
98
113
131
152
177
Depreciation
(27)
(31)
(36)
(42)
(49)
(57)
NOPAT
44
51
59
69
80
92
less capex
(42)
(48)
(53)
(58)
(63)
(68)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
34
43
53
66
81
Present value
32
36
41
46
51
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 · GPT HEALTHCARE LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
206
PV of the terminal value (80% of EV)
843
Enterprise value
1,049
less net debt
(12)
less non-controlling interest
0
add non-operating investments
0
Equity value
1,037
÷ 8.21 crore shares
₹126
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
131
141
153
168
187
10.5%
120
129
139
151
165
11.0%
111
118
126
136
148
11.5%
103
109
116
124
134
12.0%
96
101
107
114
122
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
