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Model Note · JYOTI CNC AUTOMATION LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
JYOTI CNC AUTOMATION LTD Discounted cash flow · base FY26
JYOTI CNC AUTOMATION LTD
Value per share, this model₹132
CMP 2026-09-10₹989.00
Difference(86.7)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of JYOTI CNC AUTOMATION 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
15% a year
FY26 15.2% · 5-yr CAGR —%
EBITDA margin
25.2%
FY26 25.2% · 5-yr average 24.7%
Depreciation · capex, % of revenue
2.4% · 15.4%, fading to 1.2× depreciation
FY26 2.4% · 15.4%
Working capital, % of added revenue · tax
60% · 28.1%
219 working-capital days · effective 28.1%
Discount rate
11.00%
1-yr beta 1.6
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹797 · ₹0 · ₹0 cr
FY26 net debt ₹797 cr
Shares
22.74 crore
22.74 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
2,093
2,407
2,768
3,183
3,661
4,210
growth %
15.2
15.0
15.0
15.0
15.0
15.0
EBITDA
527
607
698
802
923
1,061
Depreciation
(50)
(58)
(66)
(76)
(88)
(101)
NOPAT
343
395
454
522
600
690
less capex
(323)
(371)
(340)
(291)
(220)
(121)
less working-capital build
—
(188)
(217)
(249)
(287)
(329)
Free cash flow to firm
—
(107)
(36)
58
181
340
Present value
(101)
(31)
45
126
213
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 · JYOTI CNC AUTOMATION LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
252
PV of the terminal value (93% of EV)
3,536
Enterprise value
3,787
less net debt
(797)
less non-controlling interest
0
add non-operating investments
0
Equity value
2,990
÷ 22.74 crore shares
₹132
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
138
153
172
195
223
10.5%
122
135
150
168
190
11.0%
108
119
132
146
164
11.5%
96
105
116
128
143
12.0%
86
94
103
113
126
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
