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Model Note · R R KABEL LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
R R KABEL LIMITED Discounted cash flow · base FY26
R R KABEL LIMITED
Value per share, this model₹644
CMP 2026-09-10₹2,427.40
Difference(73.5)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of R R KABEL 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
27.5% a year
FY26 27.6% · 5-yr CAGR —%
EBITDA margin
7.9%
FY26 7.9% · 5-yr average 7.1%
Depreciation · capex, % of revenue
0.9% · 3%, fading to 1.2× depreciation
FY26 0.9% · 3.0%
Working capital, % of added revenue · tax
14.4% · 25.5%
53 working-capital days · effective 25.5%
Discount rate
11.00%
1-yr beta 0.92
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹147 · ₹0 · ₹0 cr
FY26 net debt ₹147 cr
Shares
11.32 crore
11.32 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
9,722
12,396
15,805
20,151
25,693
32,758
growth %
27.6
27.5
27.5
27.5
27.5
27.5
EBITDA
765
979
1,249
1,592
2,030
2,588
Depreciation
(92)
(112)
(142)
(181)
(231)
(295)
NOPAT
501
646
824
1,051
1,340
1,708
less capex
(291)
(372)
(398)
(411)
(401)
(354)
less working-capital build
—
(385)
(491)
(626)
(798)
(1,017)
Free cash flow to firm
—
1
77
195
372
632
Present value
1
66
150
258
395
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 · R R KABEL LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
871
PV of the terminal value (88% of EV)
6,563
Enterprise value
7,434
less net debt
(147)
less non-controlling interest
0
add non-operating investments
0
Equity value
7,287
÷ 11.32 crore shares
₹644
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
667
725
794
879
985
10.5%
607
655
712
780
863
11.0%
556
597
644
699
766
11.5%
512
546
586
632
687
12.0%
473
503
537
576
621
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
