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Model Note · KRSNAA DIAGNOSTICS LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
KRSNAA DIAGNOSTICS LTD Discounted cash flow · base FY26
KRSNAA DIAGNOSTICS LTD
Value per share, this model₹114
CMP 2026-09-10₹552.90
Difference(79.5)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of KRSNAA DIAGNOSTICS 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
8% a year
FY26 7.8% · 5-yr CAGR —%
EBITDA margin
27.4%
FY26 27.4% · 5-yr average 26.2%
Depreciation · capex, % of revenue
11.7% · 28.4%, fading to 1.2× depreciation
FY26 11.7% · 28.4%
Working capital, % of added revenue · tax
33.5% · 22.2%
122 working-capital days · effective 22.2%
Discount rate
11.00%
1-yr beta 0.91
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹504 · ₹0 · ₹0 cr
FY26 net debt ₹504 cr
Shares
3.24 crore
3.24 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
773
835
901
973
1,051
1,135
growth %
7.8
8.0
8.0
8.0
8.0
8.0
EBITDA
212
229
247
267
288
311
Depreciation
(90)
(98)
(105)
(114)
(123)
(133)
NOPAT
94
102
110
119
128
139
less capex
(219)
(237)
(224)
(207)
(185)
(159)
less working-capital build
—
(21)
(22)
(24)
(26)
(28)
Free cash flow to firm
—
(58)
(30)
2
40
84
Present value
(55)
(26)
2
28
52
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 · KRSNAA DIAGNOSTICS LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1
PV of the terminal value (100% of EV)
872
Enterprise value
872
less net debt
(504)
less non-controlling interest
0
add non-operating investments
0
Equity value
368
÷ 3.24 crore shares
₹114
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
124
151
183
222
271
10.5%
97
119
145
177
215
11.0%
73
92
114
139
170
11.5%
53
69
87
108
134
12.0%
35
49
64
82
104
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
