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Model Note · SREE RAYALSEEMA HHP LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SREE RAYALSEEMA HHP LTD. Discounted cash flow · base FY26
SREE RAYALSEEMA HHP LTD.
Value per share, this model₹696
CMP 2026-09-10₹523.00
Difference33.0%
Growth the CMP implies(18.5)%/yr
This note states the assumptions and the arithmetic of one model of SREE RAYALSEEMA HHP 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
4.5% a year
FY26 4.6% · 5-yr CAGR (6.0)%
EBITDA margin
11.2%
FY26 11.2% · 5-yr average 11.8%
Depreciation · capex, % of revenue
1.1% · 1%, fading to 1.2× depreciation
FY26 1.1% · 1.0%
Working capital, % of added revenue · tax
18.3% · 25.4%
67 working-capital days · effective 25.4%
Discount rate
11.00%
1-yr beta 1.16
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(434) · ₹0 · ₹0 cr
FY26 net debt ₹(434) cr
Shares
1.72 crore
1.72 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
667
697
728
761
795
831
growth %
4.6
4.5
4.5
4.5
4.5
4.5
EBITDA
75
78
82
85
89
93
Depreciation
(7)
(8)
(8)
(8)
(9)
(9)
NOPAT
51
53
55
57
60
63
less capex
(6)
(7)
(8)
(9)
(10)
(11)
less working-capital build
—
(5)
(6)
(6)
(6)
(7)
Free cash flow to firm
—
48
49
51
53
54
Present value
45
42
39
36
34
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 · SREE RAYALSEEMA HHP LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
197
PV of the terminal value (74% of EV)
563
Enterprise value
760
less net debt
434
less non-controlling interest
0
add non-operating investments
0
Equity value
1,194
÷ 1.72 crore shares
₹696
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
710
743
782
830
890
10.5%
676
703
735
774
821
11.0%
646
669
696
727
765
11.5%
621
640
663
689
720
12.0%
598
615
634
656
682
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
