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Model Note · JASCH INDUSTRIES LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
JASCH INDUSTRIES LTD. Discounted cash flow · base FY23
JASCH INDUSTRIES LTD.
Value per share, this model₹416
CMP 2026-09-10₹292.00
Difference42.5%
Growth the CMP implies(7.0)%/yr
This note states the assumptions and the arithmetic of one model of JASCH INDUSTRIES LTD., built on its filed FY23 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
9% a year
FY23 9.0% · 5-yr CAGR —%
EBITDA margin
11.8%
FY23 11.8% · 5-yr average 10.3%
Depreciation · capex, % of revenue
1.3% · 4.5%, fading to 1.2× depreciation
FY23 1.3% · 4.5%
Working capital, % of added revenue · tax
16.3% · 26.1%
59 working-capital days · effective 26.1%
Discount rate
11.00%
1-yr beta 0.91
After FY28
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹1 · ₹0 · ₹0 cr
FY23 net debt ₹1 cr
Shares
0.68 crore
0.68 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY23
FY24
FY25
FY26
FY27
FY28
Revenue
234
255
277
302
330
359
growth %
9.0
9.0
9.0
9.0
9.0
9.0
EBITDA
28
30
33
36
39
42
Depreciation
(3)
(3)
(4)
(4)
(4)
(5)
NOPAT
18
20
22
23
26
28
less capex
(11)
(11)
(10)
(9)
(8)
(6)
less working-capital build
—
(3)
(4)
(4)
(4)
(5)
Free cash flow to firm
—
8
11
14
18
22
Present value
8
9
11
12
14
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 · JASCH INDUSTRIES LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
54
PV of the terminal value (81% of EV)
230
Enterprise value
284
less net debt
(1)
less non-controlling interest
0
add non-operating investments
0
Equity value
283
÷ 0.68 crore shares
₹416
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
430
464
504
554
616
10.5%
395
423
456
496
544
11.0%
365
389
416
449
488
11.5%
339
359
382
409
441
12.0%
316
334
353
376
402
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
