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Model Note · TECHNOCRAFT IND LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
TECHNOCRAFT IND LTD Discounted cash flow · base FY26
TECHNOCRAFT IND LTD
Value per share, this model₹1,144
CMP 2026-09-10₹3,256.00
Difference(64.9)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of TECHNOCRAFT IND 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
6.5% a year
FY26 6.3% · 5-yr CAGR 16.3%
EBITDA margin
17%
FY26 17.0% · 5-yr average 18.4%
Depreciation · capex, % of revenue
4.5% · 0%, fading to 1.2× depreciation
FY26 4.5% · 0.0%
Working capital, % of added revenue · tax
49% · 24.5%
179 working-capital days · effective 24.5%
Discount rate
11.00%
1-yr beta 1.04
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹659 · ₹0 · ₹0 cr
FY26 net debt ₹659 cr
Shares
2.27 crore
2.27 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
2,759
2,938
3,129
3,333
3,549
3,780
growth %
6.3
6.5
6.5
6.5
6.5
6.5
EBITDA
468
500
532
567
603
643
Depreciation
(123)
(132)
(141)
(150)
(160)
(170)
NOPAT
260
277
295
315
335
357
less capex
0
0
(42)
(90)
(144)
(204)
less working-capital build
—
(88)
(94)
(100)
(106)
(113)
Free cash flow to firm
—
322
300
275
245
210
Present value
305
257
212
170
131
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 · TECHNOCRAFT IND LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,075
PV of the terminal value (67% of EV)
2,178
Enterprise value
3,252
less net debt
(659)
less non-controlling interest
0
add non-operating investments
0
Equity value
2,593
÷ 2.27 crore shares
₹1,144
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
1,188
1,284
1,398
1,539
1,714
10.5%
1,086
1,166
1,260
1,372
1,510
11.0%
999
1,066
1,144
1,236
1,347
11.5%
923
980
1,046
1,123
1,213
12.0%
857
906
962
1,026
1,102
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
