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Model Note · Mishtann Foods Limited · 29 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
Mishtann Foods Limited Discounted cash flow · base FY26
Mishtann Foods Limited
Value per share, this model₹35
CMP, 28 Oct 2026₹2.93
Difference1109.6%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of Mishtann Foods 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
-5% a year
FY26 (16.1)% · 5-yr CAGR —%
EBITDA margin
23.2%
FY26 23.2% · 5-yr average 25.2%
Depreciation · capex, % of revenue
0% · 0%, fading to 1.2× depreciation
FY26 0.0% · 0.0%
Working capital, % of added revenue · tax
121.7% · 0.6%
444 working-capital days · effective 0.6%
Discount rate
11.00%
1-yr beta 1.1
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹62 · ₹0 · ₹0 cr
FY26 net debt ₹62 cr
Shares
107.76 crore
107.76 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
1,153
1,096
1,041
989
940
893
growth %
(16.1)
(5.0)
(5.0)
(5.0)
(5.0)
(5.0)
EBITDA
267
254
242
229
218
207
Depreciation
(0)
0
0
0
0
0
NOPAT
265
253
240
228
217
206
less capex
(0)
0
0
0
0
0
less working-capital build
—
70
67
63
60
57
Free cash flow to firm
—
323
307
291
277
263
Present value
306
262
224
192
164
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 · Mishtann Foods Limited · 29 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,150
PV of the terminal value (70% of EV)
2,731
Enterprise value
3,881
less net debt
(62)
less non-controlling interest
0
add non-operating investments
0
Equity value
3,819
÷ 107.76 crore shares
₹35
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
37
39
42
46
50
10.5%
34
36
38
41
45
11.0%
32
33
35
38
41
11.5%
30
31
33
35
37
12.0%
28
29
31
32
34
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
