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Model Note · SURAKSHA DIAGNOSTIC LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SURAKSHA DIAGNOSTIC LTD Discounted cash flow · base FY26
SURAKSHA DIAGNOSTIC LTD
Value per share, this model₹183
CMP 2026-09-10₹325.00
Difference(43.6)%
Growth the CMP implies39.6%/yr
This note states the assumptions and the arithmetic of one model of SURAKSHA DIAGNOSTIC 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
23% a year
FY26 23.1% · 5-yr CAGR —%
EBITDA margin
30.7%
FY26 30.7% · 5-yr average 31.5%
Depreciation · capex, % of revenue
13.4% · 21.7%, fading to 1.2× depreciation
FY26 13.4% · 21.7%
Working capital, % of added revenue · tax
3.2% · 29.5%
12 working-capital days · effective 29.5%
Discount rate
11.00%
1-yr beta 0.46
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(1) · ₹0 · ₹0 cr
FY26 net debt ₹(1) cr
Shares
5.21 crore
5.21 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
310
382
470
578
710
874
growth %
23.1
23.0
23.0
23.0
23.0
23.0
EBITDA
95
117
144
177
218
268
Depreciation
(41)
(51)
(63)
(77)
(95)
(117)
NOPAT
38
47
57
70
87
107
less capex
(67)
(83)
(95)
(109)
(124)
(141)
less working-capital build
—
(2)
(3)
(3)
(4)
(5)
Free cash flow to firm
—
13
22
35
53
78
Present value
12
19
27
37
49
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 · SURAKSHA DIAGNOSTIC LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
144
PV of the terminal value (85% of EV)
809
Enterprise value
953
less net debt
1
less non-controlling interest
0
add non-operating investments
0
Equity value
954
÷ 5.21 crore shares
₹183
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
190
205
224
246
275
10.5%
174
186
202
220
242
11.0%
160
171
183
198
216
11.5%
148
157
168
180
195
12.0%
137
145
154
165
177
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
