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Model Note · KARTIK INVESTMENTS TRUST LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
KARTIK INVESTMENTS TRUST LTD. Discounted cash flow · base FY26
KARTIK INVESTMENTS TRUST LTD.
Value per share, this model₹9,629
CMP 2026-09-10₹7,843.40
Difference22.8%
Growth the CMP implies24.4%/yr
This note states the assumptions and the arithmetic of one model of KARTIK INVESTMENTS TRUST 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 25200.4% · 5-yr CAGR 207.1%
EBITDA margin
98.3%
FY26 98.3% · 5-yr average (1505.9)%
Depreciation · capex, % of revenue
0% · 0%, fading to 1.2× depreciation
FY26 0.0% · 0.0%
Working capital, % of added revenue · tax
0% · 14.5%
0 working-capital days · effective 14.5%
Discount rate
11.00%
1-yr beta 0.04
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹0 · ₹0 · ₹0 cr
FY26 net debt ₹(0) cr
Shares
0.02 crore
0.02 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
6
8
10
13
17
22
growth %
25200.4
30.0
30.0
30.0
30.0
30.0
EBITDA
6
8
10
13
16
21
Depreciation
0
0
0
0
0
0
NOPAT
5
6
8
11
14
18
less capex
0
0
0
0
0
0
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
6
8
11
14
18
Present value
6
7
8
10
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 · KARTIK INVESTMENTS TRUST LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
43
PV of the terminal value (82% of EV)
190
Enterprise value
233
less net debt
0
less non-controlling interest
0
add non-operating investments
0
Equity value
233
÷ 0.02 crore shares
₹9,629
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
9,960
10,744
11,684
12,832
14,269
10.5%
9,142
9,793
10,562
11,485
12,613
11.0%
8,442
8,990
9,629
10,385
11,291
11.5%
7,837
8,303
8,841
9,469
10,211
12.0%
7,308
7,709
8,167
8,695
9,312
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
