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Model Note · NETWEB TECH INDIA LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
NETWEB TECH INDIA LTD Discounted cash flow · base FY26
NETWEB TECH INDIA LTD
Value per share, this model₹287
CMP 2026-09-10₹5,044.50
Difference(94.3)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of NETWEB TECH INDIA LTD, 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
30% a year
FY26 90.0% · 5-yr CAGR —%
EBITDA margin
13%
FY26 13.0% · 5-yr average 13.7%
Depreciation · capex, % of revenue
0.7% · 0.5%, fading to 1.2× depreciation
FY26 0.7% · 0.5%
Working capital, % of added revenue · tax
32.7% · 25.6%
119 working-capital days · effective 25.6%
Discount rate
11.00%
1-yr beta 0.94
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(94) · ₹0 · ₹0 cr
FY26 net debt ₹(94) cr
Shares
5.69 crore
5.69 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
2,184
2,839
3,690
4,797
6,236
8,107
growth %
90.0
30.0
30.0
30.0
30.0
30.0
EBITDA
285
369
480
624
811
1,054
Depreciation
(14)
(20)
(26)
(34)
(44)
(57)
NOPAT
201
260
338
439
571
742
less capex
(12)
(14)
(22)
(32)
(47)
(68)
less working-capital build
—
(214)
(278)
(362)
(471)
(612)
Free cash flow to firm
—
51
63
78
97
119
Present value
49
54
60
67
74
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 · NETWEB TECH INDIA LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
305
PV of the terminal value (80% of EV)
1,234
Enterprise value
1,538
less net debt
94
less non-controlling interest
0
add non-operating investments
0
Equity value
1,632
÷ 5.69 crore shares
₹287
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
296
317
343
375
415
10.5%
273
291
312
338
369
11.0%
254
269
287
307
332
11.5%
237
250
265
282
303
12.0%
223
234
246
261
278
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
