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Model Note · VIVIANA POWER TECH LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
VIVIANA POWER TECH LTD Discounted cash flow · base FY26
VIVIANA POWER TECH LTD
Value per share, this model₹536
CMP 2026-09-10₹750.10
Difference(28.6)%
Growth the CMP implies6.5%/yr
This note states the assumptions and the arithmetic of one model of VIVIANA POWER TECH 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
30% a year
FY26 142.6% · 5-yr CAGR —%
EBITDA margin
14.3%
FY26 14.3% · 5-yr average 14.3%
Depreciation · capex, % of revenue
0.1% · 0.4%, fading to 1.2× depreciation
FY26 0.1% · 0.4%
Working capital, % of added revenue · tax
35.4% · 24.2%
129 working-capital days · effective 24.2%
Discount rate
11.00%
1-yr beta 1.35
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹98 · ₹0 · ₹0 cr
FY26 net debt ₹98 cr
Shares
1.01 crore
1.01 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
531
691
898
1,167
1,517
1,972
growth %
142.6
30.0
30.0
30.0
30.0
30.0
EBITDA
76
99
128
167
217
282
Depreciation
(1)
(1)
(1)
(1)
(2)
(2)
NOPAT
57
74
97
126
163
212
less capex
(2)
(3)
(3)
(3)
(3)
(2)
less working-capital build
—
(56)
(73)
(95)
(124)
(161)
Free cash flow to firm
—
16
21
28
38
51
Present value
15
18
22
26
32
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 · VIVIANA POWER TECH LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
113
PV of the terminal value (82% of EV)
527
Enterprise value
641
less net debt
(98)
less non-controlling interest
0
add non-operating investments
0
Equity value
543
÷ 1.01 crore shares
₹536
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
558
610
672
748
843
10.5%
504
547
598
659
734
11.0%
457
494
536
586
646
11.5%
417
448
484
525
574
12.0%
382
409
439
474
515
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
