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1 - Valuation Case Examples

The document presents a financial analysis of Adjusted PBT and EBITDA from 2011-12 to 2018-19, detailing reported profits, income sources, and expenses. It includes a valuation using past figures and a DCF analysis with future projections, highlighting key financial metrics such as operating PBT, interest, depreciation, and capital expenditure. The analysis also outlines the growth and discounting rates used for valuation.

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contactvidushi726
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6 views2 pages

1 - Valuation Case Examples

The document presents a financial analysis of Adjusted PBT and EBITDA from 2011-12 to 2018-19, detailing reported profits, income sources, and expenses. It includes a valuation using past figures and a DCF analysis with future projections, highlighting key financial metrics such as operating PBT, interest, depreciation, and capital expenditure. The analysis also outlines the growth and discounting rates used for valuation.

Uploaded by

contactvidushi726
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Calculation of Adjusted PBT & EBIDTA (Rs. In Mn.

)
Valuation
Particulars 2011-12 2012-13 2013-14
Using PAST figures Reported PBT 350 387 410

Profit on sale of investements 45 23 35


Dividend Income 43 34 32
Profit on sale of fixed assets 10 0 16
Interest Income 0 10 12
Other income 14 15 32

VRS Written off 0 8 9


Preliminary Expenditure 23 23 45
Loss on sale of fixed assets 12 21 23
Amortisation of Share Issue Expenses 15 15 15
One time settlement amount paid to third party 0 25 0
Interest 45 57 65
Depreciation 80 90 105

EBIDTA Multiple 12

(Rs in Mn)
Loan Funds 600
Contingent Liabilities 320
Preference Share Capital 800
Surplus Funds 240
Value of Investments 1500
Number of shares 2,30,00,000
Valuation using DCF Analysis (with perpetuity)
(Rs. In Mn.)
Particulars 2014-15 2015-16 2016-17 2017-18 2018-19
Operating PBT 345 223 456 678 789
Interest 45 67 89 90 105
Depreciation 60 56 70 90 120
Capital Expenditure 50 60 65 70 80
Incremental Working Capital 50 70 65 60 80
Tax 55 70 80 80 105

Growth rate 5%
Discounting rate 12%
Valuation
(Rs in Mn) Using FUTURE figures
Loan Funds 600
Contingent Liabilities 320
Preference Share Capital 800
Surplus Funds 240
Value of Investments 1500
Number of shares 2,30,00,000

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