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Model Note · H.P.COTTON TEXTILE MILLS LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
H.P.COTTON TEXTILE MILLS LTD. Discounted cash flow · base FY26
H.P.COTTON TEXTILE MILLS LTD.
Value per share, this model₹107
CMP 2026-09-10₹93.10
Difference14.9%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of H.P.COTTON TEXTILE MILLS 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
2.5% a year
FY26 2.6% · 5-yr CAGR —%
EBITDA margin
8.9%
FY26 8.9% · 5-yr average 2.3%
Depreciation · capex, % of revenue
2.5% · 0.7%, fading to 1.2× depreciation
FY26 2.5% · 0.7%
Working capital, % of added revenue · tax
18% · 33%
66 working-capital days · effective 33.0%
Discount rate
11.00%
1-yr beta 0.69
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
0.39 crore
0.39 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
132
135
138
142
145
149
growth %
2.6
2.5
2.5
2.5
2.5
2.5
EBITDA
12
12
12
13
13
13
Depreciation
(3)
(3)
(3)
(4)
(4)
(4)
NOPAT
6
6
6
6
6
6
less capex
(1)
(1)
(2)
(3)
(4)
(4)
less working-capital build
—
(1)
(1)
(1)
(1)
(1)
Free cash flow to firm
—
8
7
6
6
5
Present value
7
6
5
4
3
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 · H.P.COTTON TEXTILE MILLS LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
25
PV of the terminal value (67% of EV)
52
Enterprise value
77
less net debt
(35)
less non-controlling interest
0
add non-operating investments
0
Equity value
42
÷ 0.39 crore shares
₹107
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
113
126
142
161
185
10.5%
99
110
123
138
157
11.0%
87
96
107
120
135
11.5%
77
85
94
104
117
12.0%
68
74
82
91
101
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
