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Model Note · JUNIPER HOTELS LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
JUNIPER HOTELS LIMITED Discounted cash flow · base FY26
JUNIPER HOTELS LIMITED
Value per share, this model₹139
CMP 2026-09-10₹221.30
Difference(37.4)%
Growth the CMP implies20.7%/yr
This note states the assumptions and the arithmetic of one model of JUNIPER HOTELS LIMITED, 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
11% a year
FY26 11.0% · 5-yr CAGR —%
EBITDA margin
36.2%
FY26 36.2% · 5-yr average 36.6%
Depreciation · capex, % of revenue
10.7% · 18.9%, fading to 1.2× depreciation
FY26 10.7% · 18.9%
Working capital, % of added revenue · tax
0% · 26.2%
-12 working-capital days · effective 26.2%
Discount rate
11.00%
1-yr beta 1.02
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹728 · ₹0 · ₹0 cr
FY26 net debt ₹728 cr
Shares
22.25 crore
22.25 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
1,048
1,163
1,291
1,433
1,590
1,765
growth %
11.0
11.0
11.0
11.0
11.0
11.0
EBITDA
379
421
467
519
576
639
Depreciation
(112)
(124)
(138)
(153)
(170)
(189)
NOPAT
197
219
243
270
299
332
less capex
(198)
(220)
(224)
(227)
(228)
(227)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
123
157
196
241
294
Present value
117
134
151
167
184
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 · JUNIPER HOTELS LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
753
PV of the terminal value (80% of EV)
3,058
Enterprise value
3,811
less net debt
(728)
less non-controlling interest
0
add non-operating investments
0
Equity value
3,083
÷ 22.25 crore shares
₹139
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
144
158
175
195
220
10.5%
130
141
155
171
191
11.0%
118
127
139
152
168
11.5%
107
115
125
136
149
12.0%
98
105
113
122
133
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
