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Model Note · JULLUNDUR MOT AGENCY LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
JULLUNDUR MOT AGENCY LTD Discounted cash flow · base FY26
JULLUNDUR MOT AGENCY LTD
Value per share, this model₹107
CMP 2026-09-10₹94.30
Difference14.0%
Growth the CMP implies(20.0)%/yr
This note states the assumptions and the arithmetic of one model of JULLUNDUR MOT AGENCY 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% a year
FY26 11.9% · 5-yr CAGR 9.9%
EBITDA margin
5.3%
FY26 5.3% · 5-yr average 5.8%
Depreciation · capex, % of revenue
0.2% · 0.1%, fading to 1.2× depreciation
FY26 0.2% · 0.1%
Working capital, % of added revenue · tax
20.6% · 25.2%
75 working-capital days · effective 25.2%
Discount rate
11.00%
1-yr beta 0.47
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(12) · ₹0 · ₹0 cr
FY26 net debt ₹(12) cr
Shares
2.28 crore
2.28 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
622
697
780
874
979
1,096
growth %
11.9
12.0
12.0
12.0
12.0
12.0
EBITDA
33
37
41
46
52
58
Depreciation
(1)
(1)
(2)
(2)
(2)
(2)
NOPAT
24
27
30
33
37
42
less capex
(1)
(1)
(1)
(1)
(2)
(3)
less working-capital build
—
(15)
(17)
(19)
(22)
(24)
Free cash flow to firm
—
12
13
14
16
17
Present value
11
11
11
11
11
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 · JULLUNDUR MOT AGENCY LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
55
PV of the terminal value (76% of EV)
178
Enterprise value
234
less net debt
12
less non-controlling interest
0
add non-operating investments
0
Equity value
246
÷ 2.28 crore shares
₹107
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
111
119
128
139
154
10.5%
103
109
117
126
137
11.0%
96
101
107
115
124
11.5%
90
94
100
106
113
12.0%
84
88
93
98
104
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
