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Model Note · MAXVOLT ENERGY INDUS L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
MAXVOLT ENERGY INDUS L Discounted cash flow · base FY26
MAXVOLT ENERGY INDUS L
Value per share, this model₹295
CMP 2026-09-10₹349.20
Difference(15.6)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of MAXVOLT ENERGY INDUS L, 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
12%
FY26 12.0% · 5-yr average 12.0%
Depreciation · capex, % of revenue
0.4% · 0%, fading to 1.2× depreciation
FY26 0.4% · 0.0%
Working capital, % of added revenue · tax
30.1% · 25.7%
110 working-capital days · effective 25.7%
Discount rate
11.00%
1-yr beta 0.99
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹59 · ₹0 · ₹0 cr
FY26 net debt ₹59 cr
Shares
1.09 crore
1.09 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
297
321
346
374
404
436
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
36
38
42
45
48
52
Depreciation
(1)
(1)
(1)
(1)
(2)
(2)
NOPAT
26
28
30
32
35
38
less capex
0
0
(0)
(1)
(1)
(2)
less working-capital build
—
(7)
(8)
(8)
(9)
(10)
Free cash flow to firm
—
22
23
24
26
28
Present value
21
20
19
18
17
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 · MAXVOLT ENERGY INDUS L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
94
PV of the terminal value (75% of EV)
286
Enterprise value
380
less net debt
(59)
less non-controlling interest
0
add non-operating investments
0
Equity value
321
÷ 1.09 crore shares
₹295
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
306
332
363
402
450
10.5%
279
300
326
357
394
11.0%
255
273
295
320
350
11.5%
235
250
268
289
314
12.0%
217
230
245
263
284
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
