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Model Note · NETWORK PEOPLE SRV TECH L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
NETWORK PEOPLE SRV TECH L Discounted cash flow · base FY26
NETWORK PEOPLE SRV TECH L
Value per share, this model₹393
CMP 2026-09-10₹1,675.00
Difference(76.5)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of NETWORK PEOPLE SRV TECH 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
12.5% a year
FY26 12.5% · 5-yr CAGR —%
EBITDA margin
26%
FY26 26.0% · 5-yr average 30.4%
Depreciation · capex, % of revenue
4.7% · 0%, fading to 1.2× depreciation
FY26 4.7% · 0.0%
Working capital, % of added revenue · tax
34.6% · 25.9%
126 working-capital days · effective 25.9%
Discount rate
11.00%
1-yr beta 1.56
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(272) · ₹0 · ₹0 cr
FY26 net debt ₹(272) cr
Shares
2.09 crore
2.09 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
195
219
247
278
312
351
growth %
12.5
12.5
12.5
12.5
12.5
12.5
EBITDA
51
57
64
72
81
91
Depreciation
(9)
(10)
(12)
(13)
(15)
(17)
NOPAT
31
35
39
44
49
55
less capex
0
0
(3)
(8)
(13)
(20)
less working-capital build
—
(8)
(9)
(11)
(12)
(14)
Free cash flow to firm
—
36
38
38
39
39
Present value
35
32
30
27
24
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 · NETWORK PEOPLE SRV TECH L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
147
PV of the terminal value (73% of EV)
401
Enterprise value
549
less net debt
272
less non-controlling interest
0
add non-operating investments
0
Equity value
821
÷ 2.09 crore shares
₹393
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
402
421
444
472
507
10.5%
382
398
416
439
467
11.0%
364
378
393
412
434
11.5%
349
361
374
389
407
12.0%
336
346
357
370
385
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
