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Model Note · SHANKARA BUILDPRO LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SHANKARA BUILDPRO LIMITED Discounted cash flow · base FY26
SHANKARA BUILDPRO LIMITED
Value per share, this model₹1,035
CMP 2026-09-10₹1,257.90
Difference(17.7)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of SHANKARA BUILDPRO 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
8% a year
FY26 —% · 5-yr CAGR —%
EBITDA margin
3.3%
FY26 3.3% · 5-yr average 3.3%
Depreciation · capex, % of revenue
0.1% · 0.1%, fading to 1.2× depreciation
FY26 0.1% · 0.1%
Working capital, % of added revenue · tax
6.9% · 26.4%
25 working-capital days · effective 26.4%
Discount rate
11.00%
1-yr beta 1.07
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(2) · ₹0 · ₹0 cr
FY26 net debt ₹(2) cr
Shares
2.43 crore
2.43 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
6,826
7,372
7,962
8,598
9,286
10,029
growth %
—
8.0
8.0
8.0
8.0
8.0
EBITDA
224
243
263
284
306
331
Depreciation
(10)
(7)
(8)
(9)
(9)
(10)
NOPAT
158
174
188
203
219
236
less capex
(9)
(7)
(8)
(9)
(11)
(12)
less working-capital build
—
(38)
(41)
(44)
(47)
(51)
Free cash flow to firm
—
136
146
158
170
183
Present value
129
125
121
118
114
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 · SHANKARA BUILDPRO LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
608
PV of the terminal value (76% of EV)
1,900
Enterprise value
2,508
less net debt
2
less non-controlling interest
0
add non-operating investments
0
Equity value
2,510
÷ 2.43 crore shares
₹1,035
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
1,069
1,147
1,241
1,355
1,498
10.5%
987
1,052
1,129
1,221
1,333
11.0%
917
971
1,035
1,110
1,201
11.5%
856
902
956
1,019
1,092
12.0%
803
843
888
941
1,002
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
