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Model Note · SONA BLW PRECISION FRGS L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SONA BLW PRECISION FRGS L Discounted cash flow · base FY26
SONA BLW PRECISION FRGS L
Value per share, this model₹154
CMP 2026-09-10₹788.00
Difference(80.5)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of SONA BLW PRECISION FRGS 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
26% a year
FY26 25.9% · 5-yr CAGR —%
EBITDA margin
23.6%
FY26 23.6% · 5-yr average 26.3%
Depreciation · capex, % of revenue
6.4% · 11%, fading to 1.2× depreciation
FY26 6.4% · 11.0%
Working capital, % of added revenue · tax
29.2% · 25.2%
106 working-capital days · effective 25.2%
Discount rate
11.00%
1-yr beta 1.22
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹92 · ₹0 · ₹0 cr
FY26 net debt ₹92 cr
Shares
62.20 crore
62.20 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
4,475
5,639
7,105
8,952
11,279
14,212
growth %
25.9
26.0
26.0
26.0
26.0
26.0
EBITDA
1,056
1,331
1,677
2,113
2,662
3,354
Depreciation
(288)
(361)
(455)
(573)
(722)
(910)
NOPAT
575
725
914
1,152
1,451
1,828
less capex
(492)
(620)
(723)
(836)
(960)
(1,091)
less working-capital build
—
(340)
(428)
(539)
(680)
(856)
Free cash flow to firm
—
126
218
349
534
790
Present value
120
187
269
370
494
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 · SONA BLW PRECISION FRGS L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,440
PV of the terminal value (85% of EV)
8,207
Enterprise value
9,647
less net debt
(92)
less non-controlling interest
0
add non-operating investments
0
Equity value
9,555
÷ 62.20 crore shares
₹154
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
159
172
188
207
231
10.5%
145
156
169
185
204
11.0%
134
143
154
166
181
11.5%
124
131
140
151
163
12.0%
115
121
129
138
148
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
