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Model Note · MOTHERSON SUMI WRNG IND L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
MOTHERSON SUMI WRNG IND L Discounted cash flow · base FY26
MOTHERSON SUMI WRNG IND L
Value per share, this model₹16
CMP 2026-09-10₹36.31
Difference(56.1)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of MOTHERSON SUMI WRNG IND 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
23% a year
FY26 23.1% · 5-yr CAGR —%
EBITDA margin
9.2%
FY26 9.2% · 5-yr average 11.0%
Depreciation · capex, % of revenue
1.9% · 1.8%, fading to 1.2× depreciation
FY26 1.9% · 1.8%
Working capital, % of added revenue · tax
14.2% · 23.9%
52 working-capital days · effective 23.9%
Discount rate
11.00%
1-yr beta 1.07
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹167 · ₹0 · ₹0 cr
FY26 net debt ₹167 cr
Shares
663.17 crore
663.17 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
11,478
14,117
17,364
21,358
26,271
32,313
growth %
23.1
23.0
23.0
23.0
23.0
23.0
EBITDA
1,060
1,299
1,598
1,965
2,417
2,973
Depreciation
(216)
(268)
(330)
(406)
(499)
(614)
NOPAT
642
784
965
1,187
1,459
1,795
less capex
(201)
(254)
(333)
(436)
(567)
(737)
less working-capital build
—
(375)
(461)
(567)
(698)
(858)
Free cash flow to firm
—
424
500
589
694
814
Present value
402
428
454
481
509
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 · MOTHERSON SUMI WRNG IND L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
2,274
PV of the terminal value (79% of EV)
8,457
Enterprise value
10,731
less net debt
(167)
less non-controlling interest
0
add non-operating investments
0
Equity value
10,564
÷ 663.17 crore shares
₹16
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
16
18
19
21
23
10.5%
15
16
17
19
21
11.0%
14
15
16
17
19
11.5%
13
14
15
16
17
12.0%
12
13
14
14
15
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
