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Model Note · SNL BEARINGS LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SNL BEARINGS LTD. Discounted cash flow · base FY26
SNL BEARINGS LTD.
Value per share, this model₹458
CMP 2026-09-10₹433.70
Difference5.6%
Growth the CMP implies8.0%/yr
This note states the assumptions and the arithmetic of one model of SNL BEARINGS LTD., 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 10.6% · 5-yr CAGR 9.2%
EBITDA margin
25.2%
FY26 25.2% · 5-yr average 24.8%
Depreciation · capex, % of revenue
3.1% · 1.9%, fading to 1.2× depreciation
FY26 3.1% · 1.9%
Working capital, % of added revenue · tax
30.7% · 25.7%
112 working-capital days · effective 25.7%
Discount rate
11.00%
1-yr beta 0.52
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
0.36 crore
0.36 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
57
63
69
76
84
93
growth %
10.6
10.5
10.5
10.5
10.5
10.5
EBITDA
14
16
17
19
21
24
Depreciation
(2)
(2)
(2)
(2)
(3)
(3)
NOPAT
9
10
11
13
14
15
less capex
(1)
(1)
(2)
(2)
(3)
(3)
less working-capital build
—
(2)
(2)
(2)
(2)
(3)
Free cash flow to firm
—
9
10
11
11
12
Present value
9
8
8
8
8
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 · SNL BEARINGS LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
41
PV of the terminal value (75% of EV)
125
Enterprise value
165
less net debt
0
less non-controlling interest
0
add non-operating investments
0
Equity value
165
÷ 0.36 crore shares
₹458
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
473
508
549
600
663
10.5%
437
466
499
540
590
11.0%
406
430
458
491
531
11.5%
379
400
423
451
484
12.0%
356
373
393
417
444
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
