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Model Note · KINGFA SCI & TEC IND LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
KINGFA SCI & TEC IND LTD. Discounted cash flow · base FY26
KINGFA SCI & TEC IND LTD.
Value per share, this model₹1,843
CMP 2026-09-10₹6,215.00
Difference(70.3)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of KINGFA SCI & TEC IND 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
14.5% a year
FY26 14.4% · 5-yr CAGR 26.0%
EBITDA margin
13.1%
FY26 13.1% · 5-yr average 10.6%
Depreciation · capex, % of revenue
1.4% · 5.6%, fading to 1.2× depreciation
FY26 1.4% · 5.6%
Working capital, % of added revenue · tax
27.3% · 25.9%
100 working-capital days · effective 25.9%
Discount rate
11.00%
1-yr beta 0.61
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(136) · ₹0 · ₹0 cr
FY26 net debt ₹(136) cr
Shares
1.36 crore
1.36 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
1,996
2,285
2,616
2,996
3,430
3,927
growth %
14.4
14.5
14.5
14.5
14.5
14.5
EBITDA
261
299
343
392
449
514
Depreciation
(28)
(32)
(37)
(42)
(48)
(55)
NOPAT
173
198
227
260
297
340
less capex
(111)
(128)
(121)
(109)
(91)
(66)
less working-capital build
—
(79)
(90)
(104)
(119)
(136)
Free cash flow to firm
—
23
52
89
136
194
Present value
22
45
69
94
121
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 · KINGFA SCI & TEC IND LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
350
PV of the terminal value (85% of EV)
2,012
Enterprise value
2,362
less net debt
136
less non-controlling interest
0
add non-operating investments
0
Equity value
2,498
÷ 1.36 crore shares
₹1,843
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
1,905
2,053
2,231
2,447
2,719
10.5%
1,751
1,874
2,019
2,194
2,407
11.0%
1,619
1,723
1,843
1,986
2,157
11.5%
1,505
1,594
1,695
1,814
1,954
12.0%
1,406
1,482
1,568
1,668
1,785
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
