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Model Note · KOHINOOR FOODS LIMITED · 22 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
KOHINOOR FOODS LIMITED Discounted cash flow · base FY26
KOHINOOR FOODS LIMITED
Value per share, this model₹899
CMP 2026-09-21₹30.81
Difference2817.4%
Growth the CMP implies(20.0)%/yr
This note states the assumptions and the arithmetic of one model of KOHINOOR FOODS LIMITED, 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 70.9% · 5-yr CAGR (11.1)%
EBITDA margin
60.5%
FY26 60.5% · 5-yr average 109.0%
Depreciation · capex, % of revenue
3.7% · 0%, fading to 1.2× depreciation
FY26 3.7% · 0.0%
Working capital, % of added revenue · tax
4.8% · 9.5%
18 working-capital days · effective 9.5%
Discount rate
11.00%
1-yr beta 1.09
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹147 · ₹0 · ₹0 cr
FY26 net debt ₹147 cr
Shares
3.71 crore
3.71 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
148
192
249
324
422
548
growth %
70.9
30.0
30.0
30.0
30.0
30.0
EBITDA
89
116
151
196
255
332
Depreciation
(6)
(7)
(9)
(12)
(16)
(20)
NOPAT
76
99
128
167
217
282
less capex
0
0
(3)
(7)
(14)
(24)
less working-capital build
—
(2)
(3)
(4)
(5)
(6)
Free cash flow to firm
—
104
132
168
214
272
Present value
98
113
129
148
170
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 · KOHINOOR FOODS LIMITED · 22 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
659
PV of the terminal value (81% of EV)
2,820
Enterprise value
3,479
less net debt
(147)
less non-controlling interest
0
add non-operating investments
0
Equity value
3,332
÷ 3.71 crore shares
₹899
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
931
1,007
1,098
1,209
1,348
10.5%
852
915
989
1,079
1,188
11.0%
784
837
899
972
1,060
11.5%
725
770
823
883
955
12.0%
674
713
757
808
868
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
