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Model Note · YATHARTH HOSP & TRA C S L · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
YATHARTH HOSP & TRA C S L Discounted cash flow · base FY26
YATHARTH HOSP & TRA C S L
Value per share, this model₹270
CMP 2026-09-10₹969.00
Difference(72.1)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of YATHARTH HOSP & TRA C S L, 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 37.1% · 5-yr CAGR —%
EBITDA margin
24.2%
FY26 24.2% · 5-yr average 25.3%
Depreciation · capex, % of revenue
7.3% · 26.2%, fading to 1.2× depreciation
FY26 7.3% · 26.2%
Working capital, % of added revenue · tax
23.6% · 23.8%
86 working-capital days · effective 23.8%
Discount rate
11.00%
1-yr beta 0.77
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹32 · ₹0 · ₹0 cr
FY26 net debt ₹32 cr
Shares
9.64 crore
9.64 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
1,207
1,569
2,040
2,652
3,448
4,482
growth %
37.1
30.0
30.0
30.0
30.0
30.0
EBITDA
292
380
494
642
834
1,085
Depreciation
(88)
(115)
(149)
(194)
(252)
(327)
NOPAT
156
202
263
342
444
577
less capex
(317)
(411)
(446)
(464)
(452)
(393)
less working-capital build
—
(85)
(111)
(144)
(188)
(244)
Free cash flow to firm
—
(180)
(145)
(73)
56
268
Present value
(171)
(124)
(56)
39
167
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 · YATHARTH HOSP & TRA C S L · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
(145)
PV of the terminal value (106% of EV)
2,780
Enterprise value
2,635
less net debt
(32)
less non-controlling interest
0
add non-operating investments
0
Equity value
2,603
÷ 9.64 crore shares
₹270
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
281
310
344
386
439
10.5%
252
276
304
338
379
11.0%
227
247
270
298
331
11.5%
205
222
242
265
292
12.0%
186
201
218
237
260
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
