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Model Note · M LAKHAMSI INDUSTRIES LIMITED · 12 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
M LAKHAMSI INDUSTRIES LIMITED Discounted cash flow · base FY26
M LAKHAMSI INDUSTRIES LIMITED
Value per share, this model₹(23)
CMP 2026-05-28₹11.07
Difference(305.2)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of M LAKHAMSI INDUSTRIES 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
-4% a year
FY26 (4.1)% · 5-yr CAGR —%
EBITDA margin
0.8%
FY26 0.8% · 5-yr average 0.8%
Depreciation · capex, % of revenue
0.1% · 0.9%, fading to 1.2× depreciation
FY26 0.1% · 0.9%
Working capital, % of added revenue · tax
14.2% · 33%
52 working-capital days · effective 33.0%
Discount rate
11.00%
1-yr beta —
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹26 · ₹0 · ₹0 cr
FY26 net debt ₹26 cr
Shares
0.60 crore
0.60 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
114
110
105
101
97
93
growth %
(4.1)
(4.0)
(4.0)
(4.0)
(4.0)
(4.0)
EBITDA
1
1
1
1
1
1
Depreciation
(0)
(0)
(0)
(0)
(0)
(0)
NOPAT
1
1
0
0
0
0
less capex
(1)
(1)
(1)
(1)
(0)
(0)
less working-capital build
—
1
1
1
1
1
Free cash flow to firm
—
0
0
1
1
1
Present value
0
0
1
1
1
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 · M LAKHAMSI INDUSTRIES LIMITED · 12 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
2
PV of the terminal value (81% of EV)
10
Enterprise value
12
less net debt
(26)
less non-controlling interest
0
add non-operating investments
0
Equity value
(14)
÷ 0.60 crore shares
₹(23)
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
(22)
(20)
(18)
(16)
(13)
10.5%
(24)
(22)
(21)
(19)
(16)
11.0%
(25)
(24)
(23)
(21)
(19)
11.5%
(27)
(26)
(24)
(23)
(21)
12.0%
(28)
(27)
(26)
(25)
(23)
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
