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 · LEELA PALACES HOTEL LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
LEELA PALACES HOTEL LTD Discounted cash flow · base FY26
LEELA PALACES HOTEL LTD
Value per share, this model₹233
CMP 2026-09-10₹536.90
Difference(56.5)%
Growth the CMP implies26.3%/yr
This note states the assumptions and the arithmetic of one model of LEELA PALACES HOTEL 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
48.2%
FY26 48.2% · 5-yr average 48.2%
Depreciation · capex, % of revenue
7.4% · 25.8%, fading to 1.2× depreciation
FY26 7.4% · 25.8%
Working capital, % of added revenue · tax
0% · 17.4%
-10 working-capital days · effective 17.4%
Discount rate
11.00%
1-yr beta 0.61
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹1,457 · ₹0 · ₹0 cr
FY26 net debt ₹1,457 cr
Shares
33.40 crore
33.40 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
1,527
1,649
1,781
1,924
2,078
2,244
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
736
795
859
927
1,002
1,082
Depreciation
(113)
(122)
(132)
(142)
(154)
(166)
NOPAT
515
556
600
648
700
756
less capex
(394)
(426)
(384)
(334)
(272)
(199)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
252
348
457
582
723
Present value
240
298
352
404
452
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 · LEELA PALACES HOTEL LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,745
PV of the terminal value (81% of EV)
7,509
Enterprise value
9,254
less net debt
(1,457)
less non-controlling interest
0
add non-operating investments
0
Equity value
7,797
÷ 33.40 crore shares
₹233
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
243
265
292
325
366
10.5%
220
238
260
287
319
11.0%
200
215
233
255
281
11.5%
182
196
211
229
250
12.0%
167
179
192
207
224
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
