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Model Note · Vistar Amar Limited · 29 October 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
Vistar Amar Limited Discounted cash flow · base FY26
Vistar Amar Limited
Value per share, this model₹247
CMP, 28 Oct 2026₹179.95
Difference37.0%
Growth the CMP implies—
This note states the assumptions and the arithmetic of one model of Vistar Amar Limited, built on its filed FY26 standalone 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 487.1% · 5-yr CAGR 34.8%
EBITDA margin
10.2%
FY26 10.2% · 5-yr average 6.1%
Depreciation · capex, % of revenue
2.3% · 3.5%, fading to 1.2× depreciation
FY26 2.3% · 3.5%
Working capital, % of added revenue · tax
15.4% · 25.8%
56 working-capital days · effective 25.8%
Discount rate
11.00%
1-yr beta 0.92
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(8) · ₹0 · ₹0 cr
FY26 net debt ₹(8) cr
Shares
0.58 crore
0.58 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
158
206
268
348
453
588
growth %
487.1
30.0
30.0
30.0
30.0
30.0
EBITDA
16
21
27
36
46
60
Depreciation
(4)
(5)
(6)
(8)
(10)
(14)
NOPAT
9
12
16
20
27
34
less capex
(6)
(7)
(9)
(11)
(13)
(16)
less working-capital build
—
(7)
(10)
(12)
(16)
(21)
Free cash flow to firm
—
2
3
5
8
11
Present value
2
3
4
5
7
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 · Vistar Amar Limited · 29 October 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
21
PV of the terminal value (84% of EV)
113
Enterprise value
134
less net debt
8
less non-controlling interest
0
add non-operating investments
0
Equity value
142
÷ 0.58 crore shares
₹247
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
255
274
298
326
362
10.5%
234
251
270
293
321
11.0%
217
231
247
265
288
11.5%
202
214
227
243
261
12.0%
189
199
210
223
239
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
