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Model Note · ROYAL ORCHID HOTELS LTD · 9 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
ROYAL ORCHID HOTELS LTD Discounted cash flow · base FY26
ROYAL ORCHID HOTELS LTD
Value per share, this model₹111
CMP, 8 Oct 2026₹293.00
Difference(62.1)%
Growth the CMP implies43.2%/yr
This note states the assumptions and the arithmetic of one model of ROYAL ORCHID HOTELS 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
20% a year
FY26 20.2% · 5-yr CAGR 36.6%
EBITDA margin
4.2%
FY26 4.2% · 5-yr average 23.7%
Depreciation · capex, % of revenue
0% · 0%, fading to 1.2× depreciation
FY26 0.0% · 0.0%
Working capital, % of added revenue · tax
0.1% · 25.6%
1 working-capital days · effective 25.6%
Discount rate
11.00%
1-yr beta 1.27
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹84 · ₹0 · ₹0 cr
FY26 net debt ₹84 cr
Shares
2.74 crore
2.74 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
384
461
553
664
797
956
growth %
20.2
20.0
20.0
20.0
20.0
20.0
EBITDA
16
19
23
28
33
40
Depreciation
0
0
0
0
0
0
NOPAT
12
14
17
21
25
30
less capex
0
0
0
0
0
0
less working-capital build
—
(0)
(0)
(0)
(0)
(0)
Free cash flow to firm
—
14
17
21
25
30
Present value
14
15
16
17
19
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 · ROYAL ORCHID HOTELS LTD · 9 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
80
PV of the terminal value (79% of EV)
309
Enterprise value
389
less net debt
(84)
less non-controlling interest
0
add non-operating investments
0
Equity value
305
÷ 2.74 crore shares
₹111
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
116
127
140
157
177
10.5%
104
113
124
138
154
11.0%
94
102
111
122
135
11.5%
85
92
100
109
119
12.0%
78
83
90
98
106
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
