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Model Note · INSPIRISYS SOLUTIONS LTD · 9 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
INSPIRISYS SOLUTIONS LTD Discounted cash flow · base FY26
INSPIRISYS SOLUTIONS LTD
Value per share, this model₹226
CMP, 8 Oct 2026₹85.98
Difference162.6%
Growth the CMP implies(6.0)%/yr
This note states the assumptions and the arithmetic of one model of INSPIRISYS SOLUTIONS 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
22.5% a year
FY26 22.6% · 5-yr CAGR 3.3%
EBITDA margin
7.7%
FY26 7.7% · 5-yr average 4.8%
Depreciation · capex, % of revenue
1.1% · 0.2%, fading to 1.2× depreciation
FY26 1.1% · 0.2%
Working capital, % of added revenue · tax
8.7% · -11.9%
32 working-capital days · effective (11.9)%
Discount rate
11.00%
1-yr beta 0.87
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹71 · ₹0 · ₹0 cr
FY26 net debt ₹71 cr
Shares
3.96 crore
3.96 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
476
583
714
875
1,072
1,313
growth %
22.6
22.5
22.5
22.5
22.5
22.5
EBITDA
37
45
55
67
83
101
Depreciation
(5)
(6)
(8)
(10)
(12)
(14)
NOPAT
35
43
53
65
79
97
less capex
(1)
(1)
(3)
(7)
(11)
(17)
less working-capital build
—
(9)
(11)
(14)
(17)
(21)
Free cash flow to firm
—
39
46
54
63
73
Present value
37
39
41
43
46
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 · INSPIRISYS SOLUTIONS LTD · 9 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
207
PV of the terminal value (79% of EV)
759
Enterprise value
966
less net debt
(71)
less non-controlling interest
0
add non-operating investments
0
Equity value
895
÷ 3.96 crore shares
₹226
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
234
253
276
304
339
10.5%
214
230
249
271
299
11.0%
197
210
226
244
266
11.5%
182
193
207
222
240
12.0%
169
179
190
203
218
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
