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 · MOTOR & GENERAL FINANCE L · 23 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
MOTOR & GENERAL FINANCE L Discounted cash flow · base FY26
MOTOR & GENERAL FINANCE L
Value per share, this model₹535
CMP, 23 Oct 2026₹23.80
Difference2147.9%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of MOTOR & GENERAL FINANCE 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
-2% a year
FY26 (1.9)% · 5-yr CAGR 26.5%
EBITDA margin
2320.7%
FY26 2320.7% · 5-yr average 433.7%
Depreciation · capex, % of revenue
15.5% · 4%, fading to 1.2× depreciation
FY26 15.5% · 4.0%
Working capital, % of added revenue · tax
1669.3% · 8.5%
6093 working-capital days · effective 8.5%
Discount rate
11.00%
1-yr beta 1.25
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(156) · ₹0 · ₹0 cr
FY26 net debt ₹(156) cr
Shares
3.87 crore
3.87 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
7
7
7
6
6
6
growth %
(1.9)
(2.0)
(2.0)
(2.0)
(2.0)
(2.0)
EBITDA
159
156
152
149
146
144
Depreciation
(1)
(1)
(1)
(1)
(1)
(1)
NOPAT
144
141
139
136
133
130
less capex
(0)
(0)
(1)
(1)
(1)
(1)
less working-capital build
—
2
2
2
2
2
Free cash flow to firm
—
144
141
138
135
132
Present value
137
121
107
94
83
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 · MOTOR & GENERAL FINANCE L · 23 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
541
PV of the terminal value (72% of EV)
1,375
Enterprise value
1,916
less net debt
156
less non-controlling interest
0
add non-operating investments
0
Equity value
2,072
÷ 3.87 crore shares
₹535
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
551
586
629
680
745
10.5%
513
543
578
619
670
11.0%
481
506
535
569
610
11.5%
454
475
499
527
561
12.0%
429
447
468
492
520
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
