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Model Note · LAXMI INDIA FINANCE LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
LAXMI INDIA FINANCE LTD Discounted cash flow · base FY26
LAXMI INDIA FINANCE LTD
Value per share, this model₹586
CMP 2026-09-10₹129.86
Difference351.0%
Growth the CMP implies(20.0)%/yr
This note states the assumptions and the arithmetic of one model of LAXMI INDIA FINANCE 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 —% · 5-yr CAGR —%
EBITDA margin
64.1%
FY26 64.1% · 5-yr average 64.1%
Depreciation · capex, % of revenue
0.7% · 2%, fading to 1.2× depreciation
FY26 0.7% · 2.0%
Working capital, % of added revenue · tax
0% · 24.7%
0 working-capital days · effective 24.7%
Discount rate
11.00%
1-yr beta 1.62
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(42) · ₹0 · ₹0 cr
FY26 net debt ₹(42) cr
Shares
5.24 crore
5.24 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
317
342
370
399
431
466
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
203
219
237
256
276
299
Depreciation
(2)
(2)
(3)
(3)
(3)
(3)
NOPAT
151
163
177
191
206
222
less capex
(6)
(7)
(6)
(6)
(5)
(4)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
159
173
188
204
222
Present value
151
148
145
142
139
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 · LAXMI INDIA FINANCE LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
724
PV of the terminal value (76% of EV)
2,303
Enterprise value
3,026
less net debt
42
less non-controlling interest
0
add non-operating investments
0
Equity value
3,068
÷ 5.24 crore shares
₹586
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
605
649
701
765
846
10.5%
559
595
638
690
753
11.0%
519
550
586
628
679
11.5%
485
511
541
576
618
12.0%
455
478
503
533
567
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
