The note is the current scenario (Base). Download PDF renders this page on the server, fonts and colours exact; Print uses the browser.
Model Note · SUYOG TELEMATICS LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
SUYOG TELEMATICS LIMITED Discounted cash flow · base FY26
SUYOG TELEMATICS LIMITED
Value per share, this model₹1,463
CMP 2026-09-10₹654.90
Difference123.3%
Growth the CMP implies(5.5)%/yr
This note states the assumptions and the arithmetic of one model of SUYOG TELEMATICS LIMITED, 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
15% a year
FY26 15.2% · 5-yr CAGR —%
EBITDA margin
74%
FY26 74.0% · 5-yr average 65.6%
Depreciation · capex, % of revenue
28.1% · 0%, fading to 1.2× depreciation
FY26 28.1% · 0.0%
Working capital, % of added revenue · tax
13.9% · 24.3%
51 working-capital days · effective 24.3%
Discount rate
11.00%
1-yr beta 0.94
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹119 · ₹0 · ₹0 cr
FY26 net debt ₹119 cr
Shares
1.17 crore
1.17 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
222
255
293
337
388
446
growth %
15.2
15.0
15.0
15.0
15.0
15.0
EBITDA
164
189
217
250
287
330
Depreciation
(62)
(72)
(82)
(95)
(109)
(125)
NOPAT
77
89
102
117
135
155
less capex
0
0
(25)
(57)
(98)
(150)
less working-capital build
—
(5)
(5)
(6)
(7)
(8)
Free cash flow to firm
—
156
154
149
139
122
Present value
148
132
115
96
76
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 · SUYOG TELEMATICS LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
567
PV of the terminal value (69% of EV)
1,266
Enterprise value
1,833
less net debt
(119)
less non-controlling interest
0
add non-operating investments
0
Equity value
1,714
÷ 1.17 crore shares
₹1,463
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
1,512
1,619
1,748
1,906
2,104
10.5%
1,397
1,487
1,593
1,719
1,874
11.0%
1,300
1,375
1,463
1,566
1,691
11.5%
1,215
1,279
1,353
1,439
1,541
12.0%
1,140
1,195
1,258
1,331
1,416
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
