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Model Note · SURYALATA SPINNING MILL L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SURYALATA SPINNING MILL L Discounted cash flow · base FY26
SURYALATA SPINNING MILL L
Value per share, this model₹648
CMP 2026-09-10₹395.00
Difference64.2%
Growth the CMP implies(16.3)%/yr
This note states the assumptions and the arithmetic of one model of SURYALATA SPINNING MILL 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
-2% a year
FY26 (2.2)% · 5-yr CAGR —%
EBITDA margin
10.6%
FY26 10.6% · 5-yr average 10.2%
Depreciation · capex, % of revenue
3.4% · 0%, fading to 1.2× depreciation
FY26 3.4% · 0.0%
Working capital, % of added revenue · tax
10.3% · 23%
38 working-capital days · effective 23.0%
Discount rate
11.00%
1-yr beta 0.39
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹85 · ₹0 · ₹0 cr
FY26 net debt ₹85 cr
Shares
0.43 crore
0.43 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
484
474
465
455
446
437
growth %
(2.2)
(2.0)
(2.0)
(2.0)
(2.0)
(2.0)
EBITDA
51
50
49
48
47
46
Depreciation
(16)
(16)
(16)
(15)
(15)
(15)
NOPAT
27
26
26
25
25
24
less capex
0
0
(5)
(9)
(14)
(18)
less working-capital build
—
1
1
1
1
1
Free cash flow to firm
—
43
38
32
27
22
Present value
41
32
25
19
14
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 · SURYALATA SPINNING MILL L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
131
PV of the terminal value (64% of EV)
230
Enterprise value
362
less net debt
(85)
less non-controlling interest
0
add non-operating investments
0
Equity value
277
÷ 0.43 crore shares
₹648
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
674
727
792
871
970
10.5%
616
661
714
777
855
11.0%
567
604
648
700
763
11.5%
524
556
593
636
687
12.0%
487
514
546
582
624
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
