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Current Assets
- Cash & Cash Eq.
Revised Current Assets
Current Liabilities
- Short Term Borrowing
- Current maturities of long-term borrowings
Revised Current Liabilities
EBIT
EBIT (1-Tax Rate)
+ Depreciation
- Change in Net Working Capital
- Capex
Free Cash Flow
WACC
Terminal Growth Rate
Terminal Value
Total Cash Flow
NPV
542.54 535.31
2.21 7.59
540.33 527.73
298.67 215.11
36.77 1.54
9.80 3.25
252.10 210.33
10.9%
6.8%
8.1%
0.87
13.9%
10.39
470.77
13.8%
1,887.94
121.65 147.00 2,065.72
31-Mar-11 31-Mar-12 31-Mar-13
Sales 2881.65 3615.61 4224.99
Sales Growth (%) 25.5% 16.9%
Expenses 2541.1 3159.92 3690.13
EBITDA 340.55 455.69 534.86
EBITDA Margin (%) 11.8% 12.6% 12.7%
Depreciation 29.34 44.66 57.88
EBIT 311.21 411.03 476.98
EBIT Margin (%) 10.8% 11.4% 11.3%
Other Income 18.19 7.17 8.75
Interest 19.11 44.39 28.55
Profit before tax 310.29 373.81 457.18
Tax 68.24 68.38 85.79
Tax Rate (%) 22.0% 18.3% 18.8%
Net profit 242.05 305.43 371.39
Current Assets
- Cash & Cash Eq.
Revised Current Assets
Current Liabilities
- Short Term Borrowing
- Current maturities of long-term borrowings
Revised Current Liabilities
Cost of Debt
Risk Free Rate
Market Risk Premium
Stock Beta
Cost of Equity
Total Debt
Shareholders Equity
WACC (%)
EBIT
EBIT (1-Tax Rate)
+ Depreciation
- Change in Net Working Capital
- Capex
Free Cash Flow
WACC
Terminal Growth Rate
Terminal Value
Total Cash Flow
NPV
2,961.17 2,688.18
777.47 1,465.26
2,183.70 1,222.92
2,317.41 1,481.45
69.63 83.79
123.10 48.22
2,124.68 1,349.44
13.4%
6.8%
8.1%
1.26
17.0%
133.68
2,557.90
16.8%
6,801.70
649.90 738.53 7,641.12
31-Mar-11 31-Mar-12 31-Mar-13
Sales 3608.27 4593.39 5585.2
Sales Growth (%) 27.3% 21.6%
Expenses 3194.69 4044.16 4940.4
EBITDA 413.58 549.23 644.8
EBITDA Margin (%) 11.5% 12.0% 11.5%
Depreciation 37.28 54.35 69.29
EBIT 376.3 494.88 575.51
EBIT Margin (%) 10.4% 10.8% 10.3%
Other Income 23.54 9.52 12.37
Interest 30.44 61.42 48.52
Profit before tax 369.4 442.98 539.36
Tax 84.71 86.75 105.05
Tax Rate (%) 22.9% 19.6% 19.5%
Net profit 284.69 356.23 434.31
Current Assets
- Cash & Cash Eq.
Revised Current Assets
Current Liabilities
- Short Term Borrowing
- Current maturities of long-term borrowings
Revised Current Liabilities
Cost of Debt
Risk Free Rate
Market Risk Premium
Stock Beta
Cost of Equity
Total Debt
Shareholders Equity
WACC (%)
EBIT
EBIT (1-Tax Rate)
+ Depreciation
- Change in Net Working Capital
- Capex
Free Cash Flow
WACC
Terminal Growth Rate
Terminal Value
Total Cash Flow
NPV
31-Mar-14 31-Mar-15 31-Mar-16 13-Mar-17 31-Mar-17 31-Mar-18 31-Mar-19
6495.15 6984.61 7299.16 8,449.63 9,789.35 11,350.95
16.3% 7.5% 4.5% 15.4% 15.8% 15.9% 16.0%
5707.23 6126.88 6343.86 7,439.58 8,624.50 10,006.66
787.92 857.73 955.3 1,010.05 1,164.85 1,344.29
12.1% 12.3% 13.1% 12.1% 12.0% 11.9% 11.8%
75.67 102.95 107.58 110.42 118.55 127.89
712.25 754.78 847.72 899.63 1,046.30 1,216.40
11.0% 10.8% 11.6% 10.8% 10.6% 10.7% 10.7%
48.9 56.7 278.36
71.76 63.78 50.94
689.38 747.7 1075.15
140.56 212.03 248.12
20.4% 28.4% 23.1% 22.3%
548.82 535.66 827.03
3,503.71 3,223.49
779.68 1,472.85
2,724.03 1,750.65
2,616.08 1,696.56
106.40 85.33
132.90 51.47
2,376.78 1,559.77
13.2%
6.8%
8.1%
1.16
16.2%
138.47
2,557.90
16.1%
8,886.03
778.97 895.35 9,916.05