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Model Note · Shri Niwas Leasing and Finance · 29 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
Shri Niwas Leasing and Finance Discounted cash flow · base FY26
Shri Niwas Leasing and Finance
Value per share, this model₹20,287
CMP, 29 Oct 2026₹23.10
Difference87722.0%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of Shri Niwas Leasing and Finance, built on its filed FY26 standalone 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
30% a year
FY26 178.8% · 5-yr CAGR 38.9%
EBITDA margin
71364.5%
FY26 71364.5% · 5-yr average (29591.1)%
Depreciation · capex, % of revenue
0.1% · 0%, fading to 1.2× depreciation
FY26 0.1% · 0.0%
Working capital, % of added revenue · tax
8687.3% · 0%
31709 working-capital days · effective 0.0%
Discount rate
11.00%
1-yr beta 0.11
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹0 · ₹0 · ₹0 cr
FY26 net debt ₹(0) cr
Shares
2.40 crore
2.40 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
2
3
3
4
6
growth %
178.8
30.0
30.0
30.0
30.0
30.0
EBITDA
1,060
1,378
1,791
2,328
3,027
3,935
Depreciation
(0)
(0)
(0)
(0)
(0)
(0)
NOPAT
1,060
1,378
1,791
2,328
3,027
3,935
less capex
0
0
(0)
(0)
(0)
(0)
less working-capital build
—
(39)
(50)
(65)
(85)
(111)
Free cash flow to firm
—
1,339
1,741
2,263
2,942
3,824
Present value
1,271
1,488
1,743
2,042
2,391
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 · Shri Niwas Leasing and Finance · 29 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
8,935
PV of the terminal value (82% of EV)
39,717
Enterprise value
48,652
less net debt
0
less non-controlling interest
0
add non-operating investments
0
Equity value
48,652
÷ 2.40 crore shares
₹20,287
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
20,985
22,635
24,615
27,036
30,061
10.5%
19,261
20,632
22,253
24,197
26,574
11.0%
17,786
18,940
20,287
21,878
23,788
11.5%
16,510
17,493
18,627
19,949
21,512
12.0%
15,396
16,241
17,206
18,320
19,619
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
