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Model Note · PACE DIGITEK LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
PACE DIGITEK LIMITED Discounted cash flow · base FY26
PACE DIGITEK LIMITED
Value per share, this model₹193
CMP 2026-09-10₹158.37
Difference21.8%
Growth the CMP implies(2.1)%/yr
This note states the assumptions and the arithmetic of one model of PACE DIGITEK LIMITED, 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
8% a year
FY26 —% · 5-yr CAGR —%
EBITDA margin
17.2%
FY26 17.2% · 5-yr average 17.2%
Depreciation · capex, % of revenue
0.5% · 4%, fading to 1.2× depreciation
FY26 0.5% · 4.0%
Working capital, % of added revenue · tax
30.8% · 28.5%
113 working-capital days · effective 28.5%
Discount rate
11.00%
1-yr beta 1.23
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹691 · ₹0 · ₹0 cr
FY26 net debt ₹691 cr
Shares
21.59 crore
21.59 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
2,641
2,853
3,081
3,327
3,593
3,881
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
455
491
530
572
618
668
Depreciation
(12)
(14)
(15)
(17)
(18)
(19)
NOPAT
317
341
368
397
429
463
less capex
(106)
(114)
(97)
(77)
(52)
(23)
less working-capital build
—
(65)
(70)
(76)
(82)
(89)
Free cash flow to firm
—
176
216
261
313
371
Present value
167
185
201
217
232
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 · PACE DIGITEK LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,002
PV of the terminal value (79% of EV)
3,853
Enterprise value
4,855
less net debt
(691)
less non-controlling interest
0
add non-operating investments
0
Equity value
4,164
÷ 21.59 crore shares
₹193
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
201
218
240
266
298
10.5%
182
197
214
235
261
11.0%
166
178
193
210
231
11.5%
152
163
175
189
206
12.0%
140
149
160
172
186
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
