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Model Note · S CHAND AND COMPANY LTD · 9 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
S CHAND AND COMPANY LTD Discounted cash flow · base FY26
S CHAND AND COMPANY LTD
Value per share, this model₹190
CMP, 9 Oct 2026₹140.89
Difference35.1%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of S CHAND AND COMPANY 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
11% a year
FY26 11.0% · 5-yr CAGR 13.4%
EBITDA margin
17.7%
FY26 17.7% · 5-yr average 16.8%
Depreciation · capex, % of revenue
5.6% · 4.5%, fading to 1.2× depreciation
FY26 5.6% · 4.5%
Working capital, % of added revenue · tax
44.9% · 26.3%
164 working-capital days · effective 26.3%
Discount rate
11.00%
1-yr beta 1.04
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(16) · ₹0 · ₹0 cr
FY26 net debt ₹(16) cr
Shares
3.53 crore
3.53 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
799
887
984
1,092
1,213
1,346
growth %
11.0
11.0
11.0
11.0
11.0
11.0
EBITDA
142
157
174
193
215
238
Depreciation
(45)
(50)
(55)
(61)
(68)
(75)
NOPAT
71
79
88
97
108
120
less capex
(36)
(40)
(50)
(61)
(75)
(90)
less working-capital build
—
(39)
(44)
(49)
(54)
(60)
Free cash flow to firm
—
49
49
49
47
45
Present value
47
42
38
33
28
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 · S CHAND AND COMPANY LTD · 9 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
188
PV of the terminal value (71% of EV)
468
Enterprise value
656
less net debt
16
less non-controlling interest
0
add non-operating investments
0
Equity value
672
÷ 3.53 crore shares
₹190
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
196
210
225
245
269
10.5%
182
193
206
222
241
11.0%
170
180
190
203
218
11.5%
160
168
177
188
200
12.0%
151
158
165
174
185
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
