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Model Note · ROSE MERC.LTD. · 22 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
ROSE MERC.LTD. Discounted cash flow · base FY26
ROSE MERC.LTD.
Value per share, this model₹648
CMP 2026-09-21₹51.50
Difference1158.4%
Growth the CMP implies(20.0)%/yr
This note states the assumptions and the arithmetic of one model of ROSE MERC.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
12.5% a year
FY26 12.3% · 5-yr CAGR —%
EBITDA margin
20.8%
FY26 20.8% · 5-yr average 13.2%
Depreciation · capex, % of revenue
0.2% · 0%, fading to 1.2× depreciation
FY26 0.2% · 0.0%
Working capital, % of added revenue · tax
23.5% · 1%
86 working-capital days · effective 1.0%
Discount rate
11.00%
1-yr beta -0.16
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(5) · ₹0 · ₹0 cr
FY26 net debt ₹(5) cr
Shares
0.59 crore
0.59 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
88
100
112
126
142
159
growth %
12.3
12.5
12.5
12.5
12.5
12.5
EBITDA
18
21
23
26
29
33
Depreciation
(0)
(0)
(0)
(0)
(0)
(0)
NOPAT
18
20
23
26
29
33
less capex
(0)
0
(0)
(0)
(0)
(0)
less working-capital build
—
(3)
(3)
(3)
(4)
(4)
Free cash flow to firm
—
18
20
23
25
28
Present value
17
17
17
18
18
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 · ROSE MERC.LTD. · 22 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
87
PV of the terminal value (77% of EV)
294
Enterprise value
380
less net debt
5
less non-controlling interest
0
add non-operating investments
0
Equity value
385
÷ 0.59 crore shares
₹648
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
669
719
778
850
940
10.5%
618
659
707
765
836
11.0%
573
608
648
696
753
11.5%
535
565
598
638
684
12.0%
502
527
556
589
628
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
