The note is the current scenario (Base). Download PDF renders this page on the server, fonts and colours exact; Print uses the browser.
Model Note · SESHAASAI TECHNOLOGIES L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SESHAASAI TECHNOLOGIES L Discounted cash flow · base FY26
SESHAASAI TECHNOLOGIES L
Value per share, this model₹244
CMP 2026-09-10₹390.45
Difference(37.5)%
Growth the CMP implies30.0%/yr
This note states the assumptions and the arithmetic of one model of SESHAASAI TECHNOLOGIES L, 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
8% a year
FY26 —% · 5-yr CAGR —%
EBITDA margin
26.3%
FY26 26.3% · 5-yr average 26.3%
Depreciation · capex, % of revenue
3.1% · 11.2%, fading to 1.2× depreciation
FY26 3.1% · 11.2%
Working capital, % of added revenue · tax
28.6% · 27.1%
105 working-capital days · effective 27.1%
Discount rate
11.00%
1-yr beta 1.04
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(111) · ₹0 · ₹0 cr
FY26 net debt ₹(111) cr
Shares
16.18 crore
16.18 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY26
FY27
FY28
FY29
FY30
FY31
Revenue
1,441
1,556
1,681
1,815
1,961
2,118
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
379
409
442
477
516
557
Depreciation
(44)
(48)
(52)
(56)
(61)
(66)
NOPAT
244
263
284
307
332
358
less capex
(161)
(174)
(157)
(135)
(110)
(79)
less working-capital build
—
(33)
(36)
(38)
(42)
(45)
Free cash flow to firm
—
104
144
189
241
300
Present value
99
123
146
167
188
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 · SESHAASAI TECHNOLOGIES L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
723
PV of the terminal value (81% of EV)
3,117
Enterprise value
3,840
less net debt
111
less non-controlling interest
0
add non-operating investments
0
Equity value
3,951
÷ 16.18 crore shares
₹244
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
252
272
295
323
358
10.5%
232
248
267
290
317
11.0%
215
229
244
263
285
11.5%
200
212
225
240
258
12.0%
187
197
208
221
236
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
