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Model Note · KNOWLEDGE MARINE & EN W L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
KNOWLEDGE MARINE & EN W L Discounted cash flow · base FY26
KNOWLEDGE MARINE & EN W L
Value per share, this model₹879
CMP 2026-09-10₹2,880.90
Difference(69.5)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of KNOWLEDGE MARINE & EN W L, 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
27.5% a year
FY26 27.7% · 5-yr CAGR 50.4%
EBITDA margin
37.8%
FY26 37.8% · 5-yr average 38.4%
Depreciation · capex, % of revenue
7.3% · 46.5%, fading to 1.2× depreciation
FY26 7.3% · 46.5%
Working capital, % of added revenue · tax
24.1% · -0.4%
88 working-capital days · effective (0.4)%
Discount rate
11.00%
1-yr beta 1.59
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹148 · ₹0 · ₹0 cr
FY26 net debt ₹148 cr
Shares
2.46 crore
2.46 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
256
327
417
531
677
864
growth %
27.7
27.5
27.5
27.5
27.5
27.5
EBITDA
97
124
157
201
256
326
Depreciation
(19)
(24)
(30)
(39)
(49)
(63)
NOPAT
78
100
128
163
207
264
less capex
(119)
(152)
(154)
(147)
(123)
(76)
less working-capital build
—
(17)
(22)
(28)
(35)
(45)
Free cash flow to firm
—
(45)
(18)
27
98
207
Present value
(43)
(15)
21
68
129
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 · KNOWLEDGE MARINE & EN W L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
160
PV of the terminal value (93% of EV)
2,149
Enterprise value
2,309
less net debt
(148)
less non-controlling interest
0
add non-operating investments
0
Equity value
2,161
÷ 2.46 crore shares
₹879
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
913
1,001
1,105
1,233
1,392
10.5%
824
896
981
1,084
1,209
11.0%
747
808
879
963
1,063
11.5%
680
732
792
862
944
12.0%
623
667
718
777
845
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
