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Model Note · Trident Lifeline Limited · 6 November 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
Trident Lifeline Limited Discounted cash flow · base FY26
Trident Lifeline Limited
Value per share, this model₹179
CMP, 6 Nov 2026₹413.00
Difference(56.7)%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of Trident Lifeline 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
30% a year
FY26 48.4% · 5-yr CAGR —%
EBITDA margin
17.1%
FY26 17.1% · 5-yr average 15.7%
Depreciation · capex, % of revenue
0% · 28.3%, fading to 1.2× depreciation
FY26 0.0% · 28.3%
Working capital, % of added revenue · tax
28.2% · 29%
103 working-capital days · effective 29.0%
Discount rate
11.00%
1-yr beta -0.01
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(4) · ₹0 · ₹0 cr
FY26 net debt ₹(4) cr
Shares
1.20 crore
1.20 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
129
168
218
283
368
479
growth %
48.4
30.0
30.0
30.0
30.0
30.0
EBITDA
22
29
37
48
63
82
Depreciation
0
0
0
0
0
0
NOPAT
16
20
26
34
45
58
less capex
(36)
(47)
(46)
(40)
(26)
0
less working-capital build
—
(11)
(14)
(18)
(24)
(31)
Free cash flow to firm
—
(38)
(34)
(24)
(5)
27
Present value
(36)
(29)
(19)
(4)
17
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 · Trident Lifeline Limited · 6 November 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(71)
PV of the terminal value (134% of EV)
280
Enterprise value
210
less net debt
4
less non-controlling interest
0
add non-operating investments
0
Equity value
214
÷ 1.20 crore shares
₹179
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
187
210
238
273
315
10.5%
163
183
206
233
267
11.0%
143
160
179
201
228
11.5%
126
140
156
175
197
12.0%
111
123
137
153
171
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
