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Model Note · OMAX AUTOS LTD · 22 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
OMAX AUTOS LTD Discounted cash flow · base FY26
OMAX AUTOS LTD
Value per share, this model₹449
CMP 2026-09-20₹192.59
Difference133.3%
Growth the CMP implies7.9%/yr
This note states the assumptions and the arithmetic of one model of OMAX AUTOS 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 31.2% · 5-yr CAGR 24.6%
EBITDA margin
9.8%
FY26 9.8% · 5-yr average 11.4%
Depreciation · capex, % of revenue
3.5% · 0.8%, fading to 1.2× depreciation
FY26 3.5% · 0.8%
Working capital, % of added revenue · tax
0% · 25.1%
-20 working-capital days · effective 25.1%
Discount rate
11.00%
1-yr beta 1.67
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹19 · ₹0 · ₹0 cr
FY26 net debt ₹19 cr
Shares
2.14 crore
2.14 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
484
630
819
1,064
1,384
1,799
growth %
31.2
30.0
30.0
30.0
30.0
30.0
EBITDA
48
62
80
104
136
176
Depreciation
(17)
(22)
(29)
(37)
(48)
(63)
NOPAT
23
30
39
50
65
85
less capex
(4)
(5)
(14)
(27)
(46)
(76)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
47
54
61
67
72
Present value
44
46
47
47
45
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 · OMAX AUTOS LTD · 22 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
229
PV of the terminal value (77% of EV)
751
Enterprise value
980
less net debt
(19)
less non-controlling interest
0
add non-operating investments
0
Equity value
961
÷ 2.14 crore shares
₹449
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
465
500
541
593
657
10.5%
428
457
491
532
583
11.0%
396
421
449
483
524
11.5%
369
390
414
442
475
12.0%
345
363
384
407
435
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
