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Model Note · VIJAYA DIAGNOSTIC CEN LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
VIJAYA DIAGNOSTIC CEN LTD Discounted cash flow · base FY26
VIJAYA DIAGNOSTIC CEN LTD
Value per share, this model₹490
CMP 2026-09-10₹1,502.10
Difference(67.4)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of VIJAYA DIAGNOSTIC CEN 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
19.5% a year
FY26 19.5% · 5-yr CAGR —%
EBITDA margin
41.4%
FY26 41.4% · 5-yr average 41.0%
Depreciation · capex, % of revenue
11.3% · 22.4%, fading to 1.2× depreciation
FY26 11.3% · 22.4%
Working capital, % of added revenue · tax
0% · 25.7%
-5 working-capital days · effective 25.7%
Discount rate
11.00%
1-yr beta 0.43
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(40) · ₹0 · ₹0 cr
FY26 net debt ₹(40) cr
Shares
10.29 crore
10.29 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
814
973
1,163
1,389
1,660
1,984
growth %
19.5
19.5
19.5
19.5
19.5
19.5
EBITDA
337
403
481
575
687
821
Depreciation
(92)
(110)
(131)
(157)
(188)
(224)
NOPAT
182
218
260
311
371
444
less capex
(183)
(218)
(235)
(250)
(262)
(269)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
110
157
218
297
399
Present value
104
134
168
206
249
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 · VIJAYA DIAGNOSTIC CEN LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
861
PV of the terminal value (83% of EV)
4,143
Enterprise value
5,004
less net debt
40
less non-controlling interest
0
add non-operating investments
0
Equity value
5,044
÷ 10.29 crore shares
₹490
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
507
547
595
654
728
10.5%
465
499
538
585
643
11.0%
429
457
490
529
575
11.5%
398
422
450
482
520
12.0%
371
392
415
442
474
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
