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Model Note · JAYKAY ENTERPRISES LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
JAYKAY ENTERPRISES LTD Discounted cash flow · base FY26
JAYKAY ENTERPRISES LTD
Value per share, this model₹552
CMP 2026-09-10₹167.00
Difference230.7%
Growth the CMP implies(3.8)%/yr
This note states the assumptions and the arithmetic of one model of JAYKAY ENTERPRISES 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
30% a year
FY26 197.2% · 5-yr CAGR 278.6%
EBITDA margin
84%
FY26 84.0% · 5-yr average 15.4%
Depreciation · capex, % of revenue
6.5% · 14.2%, fading to 1.2× depreciation
FY26 6.5% · 14.2%
Working capital, % of added revenue · tax
44% · 2.8%
161 working-capital days · effective 2.8%
Discount rate
11.00%
1-yr beta 1.72
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(21) · ₹0 · ₹0 cr
FY26 net debt ₹(21) cr
Shares
13.03 crore
13.03 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
240
312
405
527
684
890
growth %
197.2
30.0
30.0
30.0
30.0
30.0
EBITDA
201
262
340
442
575
747
Depreciation
(15)
(20)
(26)
(34)
(44)
(58)
NOPAT
181
235
305
397
516
670
less capex
(34)
(44)
(51)
(58)
(64)
(69)
less working-capital build
—
(32)
(41)
(53)
(69)
(90)
Free cash flow to firm
—
179
239
319
426
568
Present value
170
205
246
296
355
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 · JAYKAY ENTERPRISES LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,272
PV of the terminal value (82% of EV)
5,903
Enterprise value
7,175
less net debt
21
less non-controlling interest
0
add non-operating investments
0
Equity value
7,196
÷ 13.03 crore shares
₹552
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
571
616
671
737
820
10.5%
524
562
606
659
724
11.0%
484
515
552
596
648
11.5%
449
476
507
543
586
12.0%
419
442
468
499
534
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
