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Model Note · HATHWAY CABLE & DATACOM · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
HATHWAY CABLE & DATACOM Discounted cash flow · base FY26
HATHWAY CABLE & DATACOM
Value per share, this model₹(3)
CMP 2026-09-10₹10.25
Difference(124.7)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of HATHWAY CABLE & DATACOM, 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
5.5% a year
FY26 5.4% · 5-yr CAGR 4.4%
EBITDA margin
15%
FY26 15.0% · 5-yr average 17.0%
Depreciation · capex, % of revenue
14.4% · 8.2%, fading to 1.2× depreciation
FY26 14.4% · 8.2%
Working capital, % of added revenue · tax
0% · 27.8%
-35 working-capital days · effective 27.8%
Discount rate
11.00%
1-yr beta 1.28
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(39) · ₹0 · ₹0 cr
FY26 net debt ₹(39) cr
Shares
177.01 crore
177.01 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
2,150
2,268
2,393
2,524
2,663
2,809
growth %
5.4
5.5
5.5
5.5
5.5
5.5
EBITDA
322
340
359
379
399
421
Depreciation
(309)
(327)
(345)
(363)
(383)
(405)
NOPAT
9
10
10
11
12
12
less capex
(176)
(186)
(250)
(322)
(400)
(485)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
150
104
53
(5)
(69)
Present value
143
89
41
(3)
(43)
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 · HATHWAY CABLE & DATACOM · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
226
PV of the terminal value (—% of EV)
(714)
Enterprise value
(487)
less net debt
39
less non-controlling interest
0
add non-operating investments
0
Equity value
(448)
÷ 177.01 crore shares
₹(3)
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
(3)
(3)
(4)
(4)
(5)
10.5%
(2)
(3)
(3)
(3)
(4)
11.0%
(2)
(2)
(3)
(3)
(3)
11.5%
(2)
(2)
(2)
(2)
(3)
12.0%
(1)
(2)
(2)
(2)
(2)
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
