The note is the current scenario (Base). Download PDF renders this page on the server, fonts and colours exact; Print uses the browser.
Model Note · LAURUS LABS LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
LAURUS LABS LIMITED Discounted cash flow · base FY26
LAURUS LABS LIMITED
Value per share, this model₹119
CMP 2026-09-10₹1,969.00
Difference(93.9)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of LAURUS LABS 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
22.5% a year
FY26 22.7% · 5-yr CAGR 7.2%
EBITDA margin
26.1%
FY26 26.1% · 5-yr average 23.1%
Depreciation · capex, % of revenue
7% · 15.7%, fading to 1.2× depreciation
FY26 7.0% · 15.7%
Working capital, % of added revenue · tax
47.6% · 24.7%
174 working-capital days · effective 24.7%
Discount rate
11.00%
1-yr beta 0.84
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹2,285 · ₹0 · ₹0 cr
FY26 net debt ₹2,285 cr
Shares
54.03 crore
54.03 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
6,813
8,346
10,224
12,524
15,342
18,794
growth %
22.7
22.5
22.5
22.5
22.5
22.5
EBITDA
1,778
2,178
2,668
3,269
4,004
4,905
Depreciation
(480)
(584)
(716)
(877)
(1,074)
(1,316)
NOPAT
977
1,200
1,470
1,801
2,207
2,703
less capex
(1,070)
(1,310)
(1,419)
(1,509)
(1,569)
(1,579)
less working-capital build
—
(730)
(894)
(1,095)
(1,341)
(1,643)
Free cash flow to firm
—
(255)
(126)
74
370
797
Present value
(242)
(108)
57
257
498
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 · LAURUS LABS LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
462
PV of the terminal value (95% of EV)
8,275
Enterprise value
8,736
less net debt
(2,285)
less non-controlling interest
0
add non-operating investments
0
Equity value
6,451
÷ 54.03 crore shares
₹119
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
125
141
159
181
209
10.5%
110
122
137
155
177
11.0%
96
107
119
134
152
11.5%
85
94
104
116
131
12.0%
75
82
91
102
114
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
