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Model Note · HAWKINS COOKERS LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
HAWKINS COOKERS LTD Discounted cash flow · base FY26
HAWKINS COOKERS LTD
Value per share, this model₹4,614
CMP 2026-09-10₹8,388.00
Difference(45.0)%
Growth the CMP implies34.7%/yr
This note states the assumptions and the arithmetic of one model of HAWKINS COOKERS 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
12.5% a year
FY26 12.3% · 5-yr CAGR 10.3%
EBITDA margin
14.4%
FY26 14.4% · 5-yr average 13.8%
Depreciation · capex, % of revenue
1.1% · 3.1%, fading to 1.2× depreciation
FY26 1.1% · 3.1%
Working capital, % of added revenue · tax
12.3% · 25.7%
45 working-capital days · effective 25.7%
Discount rate
11.00%
1-yr beta 0.34
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹14 · ₹0 · ₹0 cr
FY26 net debt ₹14 cr
Shares
0.53 crore
0.53 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
1,253
1,410
1,586
1,784
2,007
2,258
growth %
12.3
12.5
12.5
12.5
12.5
12.5
EBITDA
181
203
228
257
289
325
Depreciation
(14)
(16)
(17)
(20)
(22)
(25)
NOPAT
124
139
157
176
198
223
less capex
(39)
(44)
(42)
(39)
(35)
(30)
less working-capital build
—
(19)
(22)
(24)
(27)
(31)
Free cash flow to firm
—
92
110
132
158
187
Present value
87
94
102
109
117
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 · HAWKINS COOKERS LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
510
PV of the terminal value (79% of EV)
1,945
Enterprise value
2,455
less net debt
(14)
less non-controlling interest
0
add non-operating investments
0
Equity value
2,441
÷ 0.53 crore shares
₹4,614
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
4,771
5,137
5,577
6,115
6,786
10.5%
4,387
4,692
5,052
5,483
6,011
11.0%
4,059
4,315
4,614
4,967
5,391
11.5%
3,775
3,993
4,244
4,538
4,885
12.0%
3,526
3,714
3,928
4,175
4,464
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
