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Model Note · SANCO TRANS LTD. · 9 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SANCO TRANS LTD. Discounted cash flow · base FY22
SANCO TRANS LTD.
Value per share, this model₹810
CMP, 8 Oct 2026₹626.00
Difference29.4%
Growth the CMP implies1.0%/yr
This note states the assumptions and the arithmetic of one model of SANCO TRANS LTD., built on its filed FY22 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
16.5% a year
FY22 16.7% · 5-yr CAGR —%
EBITDA margin
12.7%
FY22 12.7% · 5-yr average 7.9%
Depreciation · capex, % of revenue
2.6% · 3%, fading to 1.2× depreciation
FY22 2.6% · 3.0%
Working capital, % of added revenue · tax
17% · 26%
62 working-capital days · effective 26.0%
Discount rate
11.00%
1-yr beta 0.13
After FY27
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹8 · ₹0 · ₹0 cr
FY22 net debt ₹8 cr
Shares
0.18 crore
0.18 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY22
FY23
FY24
FY25
FY26
FY27
Revenue
119
138
161
188
219
255
growth %
16.7
16.5
16.5
16.5
16.5
16.5
EBITDA
15
18
20
24
28
32
Depreciation
(3)
(4)
(4)
(5)
(6)
(7)
NOPAT
9
10
12
14
16
19
less capex
(4)
(4)
(5)
(6)
(7)
(8)
less working-capital build
—
(3)
(4)
(5)
(5)
(6)
Free cash flow to firm
—
6
7
9
10
12
Present value
6
6
7
7
7
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 · SANCO TRANS LTD. · 9 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
33
PV of the terminal value (78% of EV)
120
Enterprise value
154
less net debt
(8)
less non-controlling interest
0
add non-operating investments
0
Equity value
146
÷ 0.18 crore shares
₹810
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
838
905
985
1,083
1,205
10.5%
769
824
889
968
1,064
11.0%
709
755
810
874
951
11.5%
657
697
742
796
859
12.0%
612
646
685
730
782
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
