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Model Note · WELSPUN ENTERPRISES LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
WELSPUN ENTERPRISES LTD. Discounted cash flow · base FY26
WELSPUN ENTERPRISES LTD.
Value per share, this model₹391
CMP 2026-09-10₹789.00
Difference(50.4)%
Growth the CMP implies14.6%/yr
This note states the assumptions and the arithmetic of one model of WELSPUN ENTERPRISES 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
1% a year
FY26 0.9% · 5-yr CAGR 18.8%
EBITDA margin
19.3%
FY26 19.3% · 5-yr average 17.2%
Depreciation · capex, % of revenue
1.4% · 0.9%, fading to 1.2× depreciation
FY26 1.4% · 0.9%
Working capital, % of added revenue · tax
0% · 25.5%
-31 working-capital days · effective 25.5%
Discount rate
11.00%
1-yr beta 1.05
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹1,798 · ₹0 · ₹0 cr
FY26 net debt ₹1,798 cr
Shares
13.56 crore
13.56 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
3,615
3,652
3,688
3,725
3,762
3,800
growth %
0.9
1.0
1.0
1.0
1.0
1.0
EBITDA
699
705
712
719
726
733
Depreciation
(51)
(51)
(52)
(52)
(53)
(53)
NOPAT
483
487
492
497
502
507
less capex
(34)
(33)
(40)
(48)
(56)
(64)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
505
503
501
499
496
Present value
480
430
386
346
310
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 · WELSPUN ENTERPRISES LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
1,952
PV of the terminal value (73% of EV)
5,152
Enterprise value
7,104
less net debt
(1,798)
less non-controlling interest
0
add non-operating investments
0
Equity value
5,306
÷ 13.56 crore shares
₹391
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
408
446
491
547
616
10.5%
368
400
437
481
536
11.0%
334
360
391
428
472
11.5%
304
327
353
383
419
12.0%
278
298
320
345
375
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
