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Model Note · K M C SPECIALITY HOSP I L · 9 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
K M C SPECIALITY HOSP I L Discounted cash flow · base FY26
K M C SPECIALITY HOSP I L
Value per share, this model₹130
CMP, 8 Oct 2026₹177.58
Difference(26.8)%
Growth the CMP implies38.9%/yr
This note states the assumptions and the arithmetic of one model of K M C SPECIALITY HOSP I L, built on its filed FY26 standalone 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 32.0% · 5-yr CAGR 24.4%
EBITDA margin
28.8%
FY26 28.8% · 5-yr average 26.8%
Depreciation · capex, % of revenue
7.1% · 5.4%, fading to 1.2× depreciation
FY26 7.1% · 5.4%
Working capital, % of added revenue · tax
0.4% · 25.8%
1 working-capital days · effective 25.8%
Discount rate
11.00%
1-yr beta —
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹21 · ₹0 · ₹0 cr
FY26 net debt ₹21 cr
Shares
16.31 crore
16.31 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
306
397
517
672
873
1,135
growth %
32.0
30.0
30.0
30.0
30.0
30.0
EBITDA
88
114
149
193
252
327
Depreciation
(22)
(28)
(37)
(48)
(62)
(81)
NOPAT
49
64
83
108
141
183
less capex
(17)
(21)
(32)
(47)
(68)
(97)
less working-capital build
—
(0)
(0)
(1)
(1)
(1)
Free cash flow to firm
—
70
87
108
134
166
Present value
67
75
84
93
104
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 · K M C SPECIALITY HOSP I L · 9 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
422
PV of the terminal value (80% of EV)
1,720
Enterprise value
2,142
less net debt
(21)
less non-controlling interest
0
add non-operating investments
0
Equity value
2,121
÷ 16.31 crore shares
₹130
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
135
145
158
173
192
10.5%
124
132
143
155
170
11.0%
114
121
130
140
152
11.5%
106
112
119
128
138
12.0%
99
104
110
117
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
