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Model Note · WANBURY LIMITED · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
WANBURY LIMITED Discounted cash flow · base FY25
WANBURY LIMITED
Value per share, this model₹230
CMP 2026-09-10₹239.00
Difference(3.6)%
Growth the CMP implies4.7%/yr
This note states the assumptions and the arithmetic of one model of WANBURY LIMITED, built on its filed FY25 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
4% a year
FY25 4.1% · 5-yr CAGR 10.3%
EBITDA margin
12.7%
FY25 12.7% · 5-yr average 12.1%
Depreciation · capex, % of revenue
2.2% · 8.2%, fading to 1.2× depreciation
FY25 2.2% · 8.2%
Working capital, % of added revenue · tax
2.2% · -3.3%
8 working-capital days · effective (3.3)%
Discount rate
11.00%
1-yr beta 1.23
After FY30
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹169 · ₹0 · ₹0 cr
FY25 net debt ₹169 cr
Shares
3.49 crore
3.49 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY25
FY26
FY27
FY28
FY29
FY30
Revenue
600
623
648
674
701
729
growth %
4.1
4.0
4.0
4.0
4.0
4.0
EBITDA
76
79
82
86
89
93
Depreciation
(13)
(14)
(14)
(15)
(15)
(16)
NOPAT
65
68
70
73
76
79
less capex
(49)
(51)
(44)
(37)
(28)
(19)
less working-capital build
—
(1)
(1)
(1)
(1)
(1)
Free cash flow to firm
—
30
40
51
63
75
Present value
28
34
39
43
47
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 · WANBURY LIMITED · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
192
PV of the terminal value (80% of EV)
782
Enterprise value
974
less net debt
(169)
less non-controlling interest
0
add non-operating investments
0
Equity value
805
÷ 3.49 crore shares
₹230
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
240
262
289
322
363
10.5%
217
235
257
283
315
11.0%
197
212
230
252
278
11.5%
179
193
208
226
247
12.0%
164
176
189
204
221
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
