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Model Note · SAMHI HOTELS LIMITED · 22 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SAMHI HOTELS LIMITED Discounted cash flow · base FY26
SAMHI HOTELS LIMITED
Value per share, this model₹751
CMP 2026-09-20₹160.17
Difference369.0%
Growth the CMP implies(17.2)%/yr
This note states the assumptions and the arithmetic of one model of SAMHI HOTELS 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
10.5% a year
FY26 10.4% · 5-yr CAGR —%
EBITDA margin
43.2%
FY26 43.2% · 5-yr average 32.5%
Depreciation · capex, % of revenue
10.2% · 26.9%, fading to 1.2× depreciation
FY26 10.2% · 26.9%
Working capital, % of added revenue · tax
0% · -109.9%
-7 working-capital days · effective (109.9)%
Discount rate
11.00%
1-yr beta 1.22
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹1,549 · ₹0 · ₹0 cr
FY26 net debt ₹1,549 cr
Shares
22.21 crore
22.21 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
1,248
1,379
1,524
1,684
1,860
2,056
growth %
10.4
10.5
10.5
10.5
10.5
10.5
EBITDA
539
596
658
727
804
888
Depreciation
(127)
(141)
(155)
(172)
(190)
(210)
NOPAT
865
955
1,055
1,166
1,289
1,424
less capex
(336)
(371)
(354)
(329)
(296)
(252)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
725
857
1,008
1,182
1,382
Present value
688
733
777
821
864
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 · SAMHI HOTELS LIMITED · 22 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
3,882
PV of the terminal value (79% of EV)
14,352
Enterprise value
18,234
less net debt
(1,549)
less non-controlling interest
0
add non-operating investments
0
Equity value
16,685
÷ 22.21 crore shares
₹751
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
779
843
920
1,015
1,133
10.5%
711
765
828
904
997
11.0%
654
699
751
813
888
11.5%
604
642
686
738
799
12.0%
560
593
631
674
725
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
