Business Valuation Tr

EXCEL TRAINING

aluation Training

L TRAINING

GROUP - SHIFT+ALT+Arrow Keys

Show only Total Revenue figures
2009
Total Revenues

$1,000.0

2010
$1,320.0

2011
$3,000.0

2012
$4,500.0

2013
$5,700.0

2014
$7,040.0

2015
$8,750.0

FORMATTING - CTRL+1

1
2
3
4
55

Input
34,569.1
$300.0
(5,123.8)
25 bps

Expected Format
$34,569.1
($0.0)
(5,123.8)
25 bps

Input

Expected Format
2014E
123,456.123
(-6.89%)

* Exercise
1
2
3

2014E
123,456.123
(-6.89%)

Revenues
COGS
Gross Profit

Use TEXT function to make

the text dynamic based on
above data

Company
Stark
Arryn
Hoare
Lannister

2012
1,000.0
500.0
500.0

2013
2,000.0
400.0
1,600.0

Revenue for 2012 is Revenue for 2013 is

$1,000
$2,000
COGS for 2012 is
COGS for 2013 is
$500
$400

28/02/14
Share Price
$34.00
$43.00
$67.00
-

Use TEXT function to make the NOTE dynamic based on changing dates
Note: Share Price data for above analysis is as of Feb-28-2014 except for Lannis

Note: Share Price data for above analysis is as of Feb-28-2014 except for Lannis

Expected Format

Revenues for 2012 is Revenues for 2013

$1,000
is $2,000
COGS for 2012 is
COGS for 2013 is
$500
$400

g dates
xcept for Lannister.

xcept for Lannister.

CONDITIONAL FORMATTING - ALT+H+L

Highlight Cells
>
18
40
35
20
18
15
12
10
4

* Exercise
Highlight Cells
Containing text 'blue'
blue color
sky
cloud
blue substance
powder
pure blue

Top/Bottom
Below
Average
40
35
20
18
15
12
10
4

Top/Bottom
Top 10%
55
45
48
50
60
62

Data Bars
Blue
40
35
20
18
15
12
10
4

Data Bars

55
45
48
50
60
62

Color Scales
Green-Yellow-Red
Color Scale
40
35
20
18
15
12
10
4

Color Scales
Red-Yellow-Blue
Color Scale
55
45
48
50
60
62

Icon Sets
5
Ratings
40
35
20
18
15
12
10
4

Icon Sets
5
Quarters
10
9
5
3
7
9

DATA VALIDATION - ALT+A+V+V

First Name
Age
Module
Phone No.

* Exercise
Investment Year
Duration of Project
Exit Year

Test Values
Saul Goooooodmaaaaaaan
18
Public Comps
9819191919191

Validate
Validate
Validate
Validate

cell
cell
cell
cell

F4 to accept text between 2-15

F5 to accept only whole number
F6 to only accept input from list
F7 to accept only 10 digit numbe

Accounting
Excel
Valuation Basics
Relative Valuation
DCF
Financial Modelling
M&A Analysis
Private Equity

2014
2.5 Validate duration of the project to accept valu
2016.5

cept text between 2-15 characters

cept only whole number between 1 and 120
y accept input from list G9:G16
cept only 10 digit number

he project to accept values only from this list

Duration
3
4
5
6

LOCK CELL REFERENCE - F4

Fixed Rental
Person
A
B
C
D
E
F

Total Income =
Fixed Rental +
(Minutes*Rate)

75
Minutes
10
20
50
60
80
100

Call Rate
30
40
25
20
22
15

Total Income

Lock only the Row reference

Tax Rate
Profit Before
Tax
2010
100
2011
150
2012
200
2013
250

Year

Ireland
15%

Tax Expense

Lock only the Column reference

Profit Before Tax

Tax Expense in Ireland
Tax Expense in USA

* Exercise

2010
100
15%
35%

Write the TEXT formula only once and keep item label, year

Revenues
COGS
Gross Profit

2012
1,000.0
500.0
500.0

2013
2,000.0
400.0
1,600.0
Expected Format

Use TEXT function

to make the text
dynamic based on
above data

Revenues for 2012 is

$1,000
COGS for 2012 is
$500

Person
G
H
I
J
K
L

Volume
200
200
180
150
90
250

USA
35%

Tax Expense

2011
150

2012
200

ep item label, year and value dynamic.

2013
250

Price
14
14
12
15
22
10

ected Format

Revenues for
2013 is $2,000
COGS for 2013
is $400

Total Income

MATH FUNCTIONS
Calculate the statistics for below scores
Sec A Sec B Sec C
45
35
65
50
52
50
57
60
40
65
78
100
88
85
85
70
72
75
95
45
95
40
32
40
75
65
95
20
53
35
35
48
12
85
80
63
25
60
45
60
65
90
80
45
90
54
100
No. of Students
Average Score
Median Score
Max Score
Min Score

* Exercise

Calculate the statistics for below transactions

Walt
Jessie Mike
Badger
1350
350
600
400
150
520
550
330

400
900
400
300
100
1800
600
1200
225
200
200
900
400
200
400
1350
350
850
250
600
800
900
1000

No. of Transactions
Average Value
Median Value
Max Value
Min Value

600
780
850
720
450
320
650
1350
150
400
900
400
300
100
1800
600
1200
225
200
200
900
400
200
400
1350

420
1350
150
400
900
400
300
100
2000
600
1200
225
200
200
900
400
200
400
1350
180

180
1090
130
100
580
60
60
280
1600
180
760
235
280
300
380
140
360
180
750
450
140
510
220
450
350

nsactions

IF
Passing Score
Score
45
50
60
80
90
100

Savings
10,000
28,000
30,000
5,000
18,000
20,000

75
Parent's Gift
30,000
40,000
35,000
35,000
22,000
25,000

* Exercise

If age is greater than 30, personal salary will be house income, else if age
is less than or equal to 30, parent's income will be house income.
Age Limit
Age
15
18
20
26
31
35
28
30

Personal Salary
100,000
280,000
300,000
50,000
280,000
350,000
240,000
350,000

30
Parent's Income
300,000
400,000
350,000
350,000
220,000
250,000
220,000
250,000

Phone Budget

be house income, else if age

e will be house income.

House Income

If student passes then phone budget is parent's gift else the budget is personal
savings.

=IF(B6>=$D$3,D6,C6)

EMBEDDED IF
Passing Score

Phone Cost
Score
45
50
60
80
90
100

Savings
10,000
28,000
30,000
5,000
28,000
35,000

75

25,000
Parent's Gift
30,000
40,000
35,000
35,000
22,000
25,000

* Exercise

If age is greater than 30, personal salary will be house income. However, if
the personal salary is less than or equal to 200,000, parent's income will be
house income, else personal salary will be the house income. Also if age is
less than 30, parent's income will be house income.
Age Limit
Income Limit
Age
15
18
20
26
31
35
28
30

Personal Salary
100,000
280,000
300,000
50,000
280,000
350,000
240,000
350,000

30
200,000
Parent's Income
300,000
400,000
350,000
350,000
220,000
250,000
220,000
250,000

Phone Budget

e house income. However, if

000, parent's income will be
house income. Also if age is
e house income.

House Income

If student passes then phone budget is parent's gift else the budget is personal
savings.

However, if passed and if phone cost is less than personal savings then budget i
personal savings. Else budget is parent's gift.

=IF(B7>=$D$3,IF($D$4<C7,C7,D7),C7)

IF WITH AND/OR
Passing Score

Phone Cost

75

25,000

Score
45
50
60
80
90
100

Savings
10,000
28,000
30,000
5,000
28,000
35,000

Parent's Gift
30,000
40,000
35,000
35,000
22,000
25,000

Score
45
50
60
80
90
100

Savings
10,000
28,000
30,000
5,000
28,000
35,000

Parent's Gift
30,000
40,000
35,000
35,000
22,000
25,000

* Exercise

If age is greater than 30, personal salary will be house income. However, if
the personal salary is less than or equal to 200,000, parent's income will be
house income, else personal salary will be the house income. Also if age is
less than 30, parent's income will be house income.

Age Limit
Income Limit
Age
15
18
20
26
31
35
28
30

Personal Salary
100,000
280,000
300,000
50,000
280,000
350,000
240,000
350,000

30
200,000
Parent's Income
300,000
400,000
350,000
350,000
220,000
250,000
220,000
250,000

If failed OR savings is greater than equal to

phone cost then budget is personal savings. Else
budget is parent's gift.
Phone Budget
=IF(OR(B7<$D$3,C7>=$D$4),C7,D7)

If passed AND if personal savings is less than

phone cost then budget is parent's gift savings.
Else budget is personal savings.
Phone Budget

house income. However, if

000, parent's income will be
ouse income. Also if age is
house income.

=IF(AND(B17>=$D$3,C17<$D$4),D17,C17)

Using OR
House Income

Using AND
House Income

SUMIF/COUNTIF
Floor Limit
Firm
A
B
C
D
E
F

Revenues
10,000
28,000
30,000
5,000
20,000
35,000

10,000
Net Profit
3,000
15,000
20,000
(10,000)
10,000
25,000

Market Size
No. of Firms
* Exercise
Sales Staf
A
B
C
D
E
F
Average Commission

Sales Limit
Sales
800,000
200,000
1,000,000
20,000
150,000
950,000

500,000
Commissions
40,000
10,000
50,000
1,000
7,500
47,500

Consider firms for market size calculations ( sum of revenues)

only if they earn (profits) above floor limit.

Calculate average commissions for sales greater than 500,000.

SUMPRODUCT
Calculate the weighted average score for the below course.
Course Items
Assignment 1
Assignment 2
Assginment 3
Exam

Weight
15%
15%
20%
50%

Final Score
* Exercise
Method
Management Estimate
Analyst Estimate
Broker Estimate
Investor Estimate
Share Price Estimate

Calculate the weighted average share price

Probability
40.0%
20.0%
10.0%
30.0%

low course.
Score
20
20
20
40

weighted average share price based on probability weights.

Share Price
28.00
35.00
39.00
40.00

IRR/XIRR
What is the IRR and XIRR for these investments
Project A
Cashflows
Year
(15,000)
0
1
5,000
2
6,000
3
7,000
4

Project B
Cashflows
(25,000)
10,000
7,000
6,000
5,000

IRR after 2 years

IRR after 3 years
IRR after 4 years

Date
30-04-2014
30-10-2014
30-05-2015
30-01-2016
30-10-2016
IRR as of May-2015
IRR as of Jan-2016
IRR as of Oct-2016

Project A
Cashflows
(15,000)
5,000
6,000
7,000

Project B
Cashflows
(25,000)
10,000
7,000
6,000
5,000

Comments
Initial Investment
Income
Income
Income
Income

Comments
Initial Investment
Income
Income
Income
Income

RATE

What is the yield or return on this fixed deposit?

Terms
10 FD matures in 10 years
N
(9,500) Current price is 9,500
PV
1,000 Annual payment of 1,000
PMT
10,000 Principal repayment of 10,000
FV
END Payment at the end of period
MODE
Yield
What is the CAGR for historical and forward period?
2011
2012
2013
Revenues
10,000
10,800
11,772
Annual Growth
8.0%
9.0%

2014
13,185
12.0%

Price to earn FV of 10,000 with below terms?

Terms
15 FD matures in 15 years
N
10.0% Annual return of 10%
Yield
500 Annual payment of 500
PMT
10,000 Principal repayment of 10,000
FV
END Payment at the end of period
MODE
PV
CAGR
2015 E
14,899
13.0%

2016 E
17,133
15.0%

2017 E 2011 - 2014

20,046
17.0%

w terms?

es in 15 years
urn of 10%
yment of 500
epayment of 10,000
at the end of period

What will be the maturity value?

Terms
20 Bond matures in
N
(10,000) Current price is 1
PV
700 Annual payment
PMT
8.0% Annual return of 8
Yield
END Payment at the e
MODE
FV

CAGR
2015 - 2017

ond matures in 20 years

urrent price is 10,000
nnual payment of 700
nnual return of 8%
ayment at the end of period

To earn 8% return what should be the annual

Terms
20
N
(10,000)
PV
20,000
FV
8.0%
Yield
END
MODE
PMT

ld be the annual payment?

Bond matures in 20 years
Current price is 10,000
Maturity Value of 20,000
Annual return of 8%
Payment at the end of period

HLOOKUP and VLOOKUP

Input
2014
1
2
3
4
5
6
7

Item
Revenue
Gross Profit
EBITDA
EBIT
Net Income
EPS

HLOOKUP
Row Index

Output
4

2013 E
10,000
6,000
5,000
4,000
2,000
20.00

2014 E
13,000
7,800
6,500
5,200
2,600
26.00

* Exercise
Expenses
Name
Chemicals
Equipment
Toys
Powder
Cars
Apparel
Food

Walter
80,000
50,000
15,000
70,000
20,000
8,000
2,000

Jesse
100,000
62,500
18,750
87,500
25,000
10,000
2,500

Input
EBITDA
2015 E
18,000
10,800
9,000
7,200
3,600
36.00

Saul
72,000
45,000
13,500
63,000
18,000
7,200
1,800

VLOOKUP
Col Index

Output
3

2016 E
20,000
12,000
10,000
8,000
4,000
40.00

Hank
64,000
40,000
12,000
56,000
16,000
6,400
1,600

Gustavo
96,000
60,000
18,000
84,000
24,000
9,600
2,400

VLOOKUP
Lookup below expenses for Saul
Toys
Powder
Apparel
HLOOKUP
Lookup powder expenses for below people
Hank
Gustavo

GOALSEEK - ALT+T+G

Year
0
1
2
3
4

Cashflows
Comments
(15,000) Initial Investment
- Income
5,000 Income
6,000 Income
7,000 Income

IRR after 4 years

6.07%

What cashflow in year 4 can give me an IRR of 8%?

* Exercise

Use Goal Seek to find out the score required in final exam for scoring an aggre
Course Items
Assignment 1
Assignment 2
Assginment 3
Exam
Final Score
Aggregate

Weight
15%
15%
20%
50%

Score
80
85
65
60
67.8
67.8%

m for scoring an aggregate of 80%

Max Points
100
100
100
100

SCENARIO ANALYSIS - ALT+A+W+S

Revenue Growth
Gross Margin
EBITDA Margin
EBIT Margin
NI Margin

1
2
3
4
5
6
7

Item
Revenue
Gross Profit
EBITDA
EBIT
Net Income
EPS

10.0%
60.0%
50.0%
40.0%
30.0%

2013 E
10,000
6,000
5,000
4,000
3,000
30.00

2014 E
11,000
6,600
5,500
4,400
3,300
33.00

2015 E
12,100
7,260
6,050
4,840
3,630
36.30

Worst
8%
50%

2016 E
13,310
7,986
6,655
5,324
3,993
39.93

Cases
Base
10%
60%

Best
12%
70%

CHOOSE

Select Case
Revenue Growth
Gross Margin
EBITDA Margin
EBIT Margin
NI Margin

1
2
3
4
5
6
7

Item
Revenue
Gross Profit
EBITDA
EBIT
Net Income
EPS

2
10.0%
60.0%
50.0%
40.0%
30.0%

2013 E
10,000
6,000
5,000
4,000
3,000
30.00

2014 E
11,000
6,600
5,500
4,400
3,300
33.00

* Exercise

Use Choose function to calculate Bonus (Salary * Bonus % of Sala

Name
Sherlock
John
Moriarty
Lestrade
Mycroft

Rating
5
4
4
2
3

Salary ()
50,000
60,000
200,000
70,000
150,000

Worst
1
8%
50%

2015 E
12,100
7,260
6,050
4,840
3,630
36.30

Cases
Base
2
10%
60%

Best
3
12%
70%

2016 E
13,310
7,986
6,655
5,324
3,993
39.93

(Salary * Bonus % of Salary) for each person using the bonus scale
Bonus ()

Rating
1
2
3
4
5

Bonus % of Salary
2.0%
2.5%
3.0%
3.5%
4.0%

OFFSET

Select Case
Revenue Growth
Gross Margin
EBITDA Margin
EBIT Margin
NI Margin

1
2
3
4
5
6
7

Item
Revenue
Gross Profit
EBITDA
EBIT
Net Income
EPS

2
10.0%
60.0%
50.0%
40.0%
30.0%

2013 E
10,000
6,000
5,000
4,000
3,000
30.00

2014 E
11,000
6,600
5,500
4,400
3,300
33.00

2015 E
12,100
7,260
6,050
4,840
3,630
36.30

* Exercise
Use Offset to retreive data from the below table

Revenue
Gross Profit
EBITDA
EBIT
Net Income
EPS

2013 E
10,000
6,000
5,000
4,000
3,000
30.00

2014 E
11,000
6,600
5,500
4,400
3,300
33.00

2015 E
12,100
7,260
6,050
4,840
3,630
36.30

Worst
1
8%
50%

Cases
Base
2
10%
60%

Best
3
12%
70%

2016 E
13,310
7,986
6,655
5,324
3,993
39.93

2016 E
13,310
7,986
6,655
5,324
3,993
39.93

Year

Retreive Item

4th Year
4th Year

EBITDA
EBITDA

3rd Year
3rd Year

EPS
EPS

Reference
"C24"
"C27"
"D24"
"G24"

Result

DATA TABLES - ALT+D+T

Revenue Growth
Op Costs Margin

Revenue
Operating Costs
Operating Profit

10%
60%

2013
100,000
60,000
40,000

Sum of Future Operating Profits

2014
110,000
66,000
44,000
268,624

Sensitivity Analysis--One-Way:
Rev
Growth
6%
8%
10%
12%
14%

Sensitivity Analysis--Two Way:

Rev Growth
D3

6%
8%
10%
12%
14%

* Exercise

Revenue Growth
Op Costs Growth

10.0%
9.0%

2018 Firm Value /Op Profit

15.0x
2013
100,000
60,000
40,000

Revenue
Operating Costs
Operating Profit
Firm Value as of 2018

2014
110,000
65,400
44,600
1,031,003

Calculate sensitivity of EV value to revenue growth, op costs growth and the v

Calculate two-way sensitivity of revenue growth and valuation multiple
Sensitivity Analysis--One-Way:
Rev
D36
Growth

Sensitivity Analysis--Two Way:

Rev Growth
D36

2015
121,000
72,600
48,400

2016
133,100
79,860
53,240

D3

2017
146,410
87,846
58,564

2018
161,051
96,631
64,420

Op Costs
D4
Margin
30.0%
45.0%
60.0%
75.0%
90.0%

30%

Op. Costs Margin

45%

D4
60%

75%

2015
121,000
71,286
49,714

2016
133,100
77,702
55,398

2017
146,410
84,695
61,715

2018
161,051
92,317
68,734

h, op costs growth and the valuation multiple

and valuation multiple

Op Costs
Growth

D37

Valuation Multiple

Valuation
Multiple

D38

90%

D38

SORTING & FILTER - ALT+D+S; ALT+A+T

SORT
FILTER

Sort by Product and then Commission in descending order.

Show enteries for FEB and MAR where Commission is higher than
Name
Gustavo
Gustavo
Gustavo
Hank
Hank
Hank
Jesse
Jesse
Jesse
Mike
Mike
Mike
Saul
Saul
Saul
Walter
Walter
Walter

Month
MAR
JAN
FEB
MAR
FEB
JAN
JAN
MAR
FEB
FEB
MAR
JAN
FEB
MAR
JAN
JAN
FEB
MAR

Unit Sales
30
15
10
20
10
30
10
40
15
30
5
20
5
20
40
20
10
30

Revenue
4,500
1,500
2,000
3,000
2,000
3,000
1,000
6,000
3,000
6,000
750
2,000
1,000
3,000
4,000
2,000
2,000
4,500

ending order.
ssion is higher than 500
Commission
1,350
150
400
900
400
300
100
1,800
600
1,200
225
200
200
900
400
200
400
1,350

Product
Chemicals
Equipment
Toys
Equipment
Toys
Toys
Chemicals
Equipment
Equipment
Chemicals
Chemicals
Equipment
Chemicals
Toys
Toys
Chemicals
Equipment
Toys

PIVOT TABLE - ALT+N+V+T

Name
Walter
Jesse
Hank
Saul
Mike
Gustavo
Walter
Jesse
Hank
Saul
Mike
Gustavo
Walter
Jesse
Hank
Saul
Mike
Gustavo

Month
JAN
JAN
JAN
JAN
JAN
JAN
FEB
FEB
FEB
FEB
FEB
FEB
MAR
MAR
MAR
MAR
MAR
MAR

Unit Sales
20
10
30
40
20
15
10
15
10
5
30
10
30
40
20
20
5
30

Revenue
2,000
1,000
3,000
4,000
2,000
1,500
2,000
3,000
2,000
1,000
6,000
2,000
4,500
6,000
3,000
3,000
750
4,500

Commission
200
100
300
400
200
150
400
600
400
200
1,200
400
1,350
1,800
900
900
225
1,350

Product
Chemicals
Chemicals
Toys
Toys
Equipment
Equipment
Equipment
Equipment
Toys
Chemicals
Chemicals
Toys
Toys
Equipment
Equipment
Toys
Chemicals
Chemicals

TRACE - Precendents - ALT+M+P; Dependents - ALT+M+D; Rem

Revenue Growth
Op Costs Margin

Revenue
Operating Costs
EBIT
Sum Of Future EBIT

10%
60%

2013
100,000
60,000
40,000

2014
110,000
66,000
44,000
268,624

nts - ALT+M+D; Remove - ALT+M+A+A

TRACE DEPENDENTS

2015
121,000
72,600
48,400

2016
133,100
79,860
53,240

2017
146,410
87,846
58,564

2018
161,051
96,631
64,420

TRACE PRECDENTS

CHARTS
Revenue
Gross Profit
EBITDA
EBIT
Net Income

2013
10,000
6,000
5,000
4,000
3,000

2014
11,000
6,600
5,500
4,400
3,300

India Oil Imports (2011-12 Barrels Per Day)

Saudi Arabia
651
Iraq
483
Iran
363
Kuwait
355
UAE
316
Other Middle East
208
Rest of the World
1,063
3,439

Exercise
Saudi Arabia
Iraq
Iran
Kuwait
UAE
Other Middle East
Rest of the World

Use the below data to create the outputs a

2013
651
483
363
355
316
208
1,063
3,439

2014
664
493
370
362
322
212
1,359
3,783

Use Sparklines to showcase trend of financials.

Revenue
Operating Profit Margin
Net Income

2013
10,000
55%
3,000

2014
11,000
45%
3,100

2015
12,100
7,260
6,050
4,840
3,630

2016
13,310
7,986
6,655
5,324
3,993

a to create the outputs as shown below.

2015
677
503
378
369
329
216
1,878
4,350

2016
691
513
385
377
335
221
2,264
4,785

2015
12,100
55%
3,700

2016
13,310
40%
3,500

Trend Analysis
Bar Chart
Line Chart
Bar Chart

STOCK CHART
Date

IDFC
LIC HSG
L&T Fin
1-Jan
109.8
221.7
48.2
2-Jan
104.6
211.6
47.3
3-Jan
105.5
215.2
47.2
6-Jan
104.3
212.4
47.1
7-Jan
103.8
209.7
46.9
8-Jan
102.4
210.4
46.7
9-Jan
101.5
207.6
46.7
10-Jan
98.5
202.8
46.8
13-Jan
100.4
204.6
46.3
14-Jan
100.1
207.6
46.6
15-Jan
102.4
213.0
47.1
16-Jan
101.1
210.8
47.0
17-Jan
100.1
208.7
47.3
20-Jan
100.8
211.3
46.9
21-Jan
100.8
212.2
46.9
22-Jan
100.8
211.0
47.1
23-Jan
101.1
212.0
45.9
24-Jan
98.2
207.2
44.6
27-Jan
92.7
199.4
44.6
28-Jan
93.7
199.6
44.9
29-Jan
94.1
199.2
44.5
30-Jan
91.7
192.7
45.3
31-Jan
93.2
195.8
44.5
3-Feb
90.6
191.1
43.4
4-Feb
91.5
193.2
44.5
5-Feb
92.6
193.0
44.5
6-Feb
93.1
195.5
44.7
7-Feb
96.2
201.6
45.1
10-Feb
97.5
201.8
43.2
11-Feb
98.0
200.3
43.8
12-Feb
99.3
199.9
43.8
13-Feb
95.3
196.5
43.9
14-Feb
95.4
199.0
44.0
17-Feb
97.1
201.6
43.9

18-Feb
19-Feb
20-Feb
21-Feb
24-Feb
25-Feb
26-Feb
27-Feb
28-Feb
3-Mar
4-Mar
5-Mar
6-Mar
7-Mar
10-Mar
11-Mar
12-Mar
13-Mar
14-Mar
17-Mar
18-Mar
19-Mar
20-Mar
21-Mar
24-Mar
25-Mar
26-Mar
27-Mar
28-Mar
31-Mar
1-Apr
2-Apr
3-Apr
4-Apr
7-Apr
8-Apr
9-Apr
10-Apr

97.9
97.1
95.2
95.2
94.2
95.7
94.5
94.5
94.1
95.2
99.5
102.7
103.8
105.1
112.2
115.5
113.6
112.7
114.2
114.2
113.6
113.8
111.6
109.2
112.0
111.8
115.1
121.1
125.6
122.3
123.1
127.8
124.9
125.0
122.2
122.2
124.0
124.7

203.0
204.3
201.5
201.1
202.7
209.2
206.8
206.8
206.4
205.1
208.0
213.9
215.7
223.3
231.7
231.5
227.2
225.8
229.6
229.6
229.8
230.1
225.1
224.4
228.5
227.1
227.0
232.2
237.9
236.2
236.8
247.8
244.5
243.0
247.7
247.7
256.6
268.0

43.9
43.3
43.6
43.4
43.5
43.4
43.4
43.6
43.5
43.2
43.9
44.0
44.4
45.1
44.6
44.4
44.7
44.4
44.0
44.0
43.9
43.7
43.9
44.2
43.6
43.6
43.2
43.0
43.4
44.1
44.4
44.7
44.9
44.7
44.2
44.5
44.5
43.9

11-Apr
14-Apr
15-Apr
16-Apr
17-Apr
18-Apr
21-Apr
22-Apr
23-Apr
24-Apr
25-Apr

123.6
123.6
119.5
116.5
118.4
118.4
119.5
118.9
116.6
116.6
114.1

269.3
269.3
264.7
262.7
269.2
269.2
273.4
278.7
279.6
279.6
280.1

43.4
43.7
43.8
44.1
44.0
43.8
43.8
43.8
43.8
44.4
44.1

Date IDFC
LIC HSG
L&T Fin
1-Jan
100%
100%
100%
2-Jan
95%
95%
98%
3-Jan
96%
97%
98%
6-Jan
95%
96%
98%
7-Jan
95%
95%
97%
8-Jan
93%
95%
97%
9-Jan
92%
94%
97%
10-Jan
90%
91%
97%
13-Jan
91%
92%
96%
14-Jan
91%
94%
97%
15-Jan
93%
96%
98%
16-Jan
92%
95%
97%
17-Jan
91%
94%
98%
20-Jan
92%
95%
97%
21-Jan
92%
96%
97%
22-Jan
92%
95%
98%
23-Jan
92%
96%
95%
24-Jan
89%
93%
93%
27-Jan
84%
90%
93%
28-Jan
85%
90%
93%
29-Jan
86%
90%
92%
30-Jan
84%
87%
94%
31-Jan
85%
88%
92%
3-Feb
83%
86%
90%
4-Feb
83%
87%
92%
5-Feb
84%
87%
92%
6-Feb
85%
88%
93%
7-Feb
88%
91%
94%
10-Feb
89%
91%
90%
11-Feb
89%
90%
91%
12-Feb
90%
90%
91%
13-Feb
87%
89%
91%
14-Feb
87%
90%
91%
17-Feb
88%
91%
91%

18-Feb
19-Feb
20-Feb
21-Feb
24-Feb
25-Feb
26-Feb
27-Feb
28-Feb
3-Mar
4-Mar
5-Mar
6-Mar
7-Mar
10-Mar
11-Mar
12-Mar
13-Mar
14-Mar
17-Mar
18-Mar
19-Mar
20-Mar
21-Mar
24-Mar
25-Mar
26-Mar
27-Mar
28-Mar
31-Mar
1-Apr
2-Apr
3-Apr
4-Apr
7-Apr
8-Apr
9-Apr
10-Apr

89%
88%
87%
87%
86%
87%
86%
86%
86%
87%
91%
94%
95%
96%
102%
105%
103%
103%
104%
104%
104%
104%
102%
99%
102%
102%
105%
110%
114%
111%
112%
116%
114%
114%
111%
111%
113%
114%

92%
92%
91%
91%
91%
94%
93%
93%
93%
92%
94%
96%
97%
101%
105%
104%
102%
102%
104%
104%
104%
104%
102%
101%
103%
102%
102%
105%
107%
107%
107%
112%
110%
110%
112%
112%
116%
121%

91%
90%
91%
90%
90%
90%
90%
90%
90%
90%
91%
91%
92%
94%
93%
92%
93%
92%
91%
91%
91%
91%
91%
92%
90%
90%
90%
89%
90%
91%
92%
93%
93%
93%
92%
92%
92%
91%

11-Apr
14-Apr
15-Apr
16-Apr
17-Apr
18-Apr
21-Apr
22-Apr
23-Apr
24-Apr
25-Apr

113%
113%
109%
106%
108%
108%
109%
108%
106%
106%
104%

121%
121%
119%
118%
121%
121%
123%
126%
126%
126%
126%

90%
91%
91%
91%
91%
91%
91%
91%
91%
92%
92%

TWO AXIS CHARTS

Revenue
EBITDA Margin

Exercise

EPS (RHS)
Price (LHS)

2013
10,000
20%

2014
11,000
18%

2015
12,100
13%

Use below data to create the output.

2013
5.00
50

2014
7.00
84

2015
6.00
54

2016
13,310
16%

2016
10.00
140

Introduction to Macros

0.1
0.6
0.5
0.4
0.3

Revenue Growth
Gross Margin
EBITDA Margin
EBIT Margin
NI Margin

Item
Revenue
Gross Profit
EBITDA
EBIT
Net Income
EPS

2013 E
10,000
6,000
5,000
4,000
3,000
30.00

2014 E
11,000
6,600
5,500
4,400
3,300
33.00

2015 E
12,100
7,260
6,050
4,840
3,630
36.30

Worst
0.08
0.5

2016 E
13,310
7,986
6,655
5,324
3,993
39.93

Cases
Base
0.1
0.6

Best
0.12
0.7

FUNCTION KEY SHORTCUTS

KEY
F1

F2

F3

F4

F5
F6

F7

F8

F9

F10

F11

F12

N KEY SHORTCUTS

DESCRIPTION
Displays theExcel Helptask pane.
CTRL+F1 displays or hides the ribbon.
ALT+F1 creates an embedded chart of the data in the current range.
ALT+SHIFT+F1 inserts a new worksheet.
Edits the active cell and positions the insertion point at the end of the cell conte
moves the insertion point into the Formula Bar when editing in a cell is turned o

SHIFT+F2 adds or edits a cell comment.

CTRL+F2 displays the print preview area on thePrinttab in the Backstage view.

Displays thePaste Namedialog box. Available only if there are existing names in

SHIFT+F3 displays theInsert Functiondialog box.

Repeats the last command or action, if possible.
When a cell reference or range is selected in a formula, F4 cycles through all the
combinations of absolute and relative references.

CTRL+F4 closes the selected workbook window.

ALT+F4 closes Excel.
Displays theGo Todialog box.
CTRL+F5 restores the window size of the selected workbook window.
Switches between the worksheet, ribbon, task pane, and Zoom controls. In a wo
has been split (Viewmenu,Manage This Window,Freeze Panes,Split Windowco
includes the split panes when switching between panes and the ribbon area.

SHIFT+F6 switches between the worksheet, Zoom controls, task pane, and ribbo

CTRL+F6 switches to the next workbook window when more than one workbook
open.
Displays theSpellingdialog box to check spelling in the active worksheet or sele

CTRL+F7 performs theMovecommand on the workbook window when it is not m

the arrow keys to move the window, and when finished press ENTER, or ESC to c

Turns extend mode on or off. In extend mode,Extended Selectionappears in the

and the arrow keys extend the selection.

SHIFT+F8 enables you to add a nonadjacent cell or range to a selection of cells

arrow keys.
CTRL+F8 performs theSizecommand (on theControlmenu for the workbook w
workbook is not maximized.
ALT+F8 displays theMacrodialog box to create, run, edit, or delete a macro.

Calculates all worksheets in all open workbooks.

SHIFT+F9 calculates the active worksheet.
CTRL+ALT+F9 calculates all worksheets in all open workbooks, regardless of wh
have changed since the last calculation.
CTRL+ALT+SHIFT+F9 rechecks dependent formulas, and then calculates all cells
workbooks, including cells not marked as needing to be calculated.
CTRL+F9 minimizes a workbook window to an icon.
Turns key tips on or off. (Pressing ALT does the same thing.)
SHIFT+F10 displays the shortcut menu for a selected item.
ALT+SHIFT+F10 displays the menu or message for an Error Checking button.
CTRL+F10 maximizes or restores the selected workbook window.
Creates a chart of the data in the current range in a separate Chart sheet.

SHIFT+F11 inserts a new worksheet.

ALT+F11 opens the Microsoft Visual Basic For Applications Editor, in which you c
macro by using Visual Basic for Applications (VBA).
Displays theSave Asdialog box.

FREQUENTLY USED SHORTCUTS

Navigation
Cell Navigation and Selection
Move one cell in any direction
Go to end of contiguous range
Select range
Select contiguous range
Move one page up (down)
Move to beginning of row
Move to cell "A1"
Move to cell to the right (left)
Move to cell below (above)
Select All
Worksheet Navigation
Move to next/previous worksheet
New Worksheet
Workbook Navigation
Switch workbooks
Switch workbooks in reverse
New Workbook
Basics
Save
Print
New Workbook
Close Program
Open Workbook
Close Window
Recalculate Workbook
Formatting
Cell Formatting
Format Menu
Bold

Italic
Underline
Insert a comment

Arrow Keys
CTRL + Arrow Keys
SHIFT + Arrow Keys
CTRL + SHIFT + Arrow Keys
Page Up (Down)
Home
CTRL + Home
TAB (SHIFT + TAB)
Enter (SHIFT + Enter)
CTRL + A

CTRL + Page Up/Down

SHIFT + F11

CTRL + TAB
CTRL + SHIFT + TAB
CTRL + N

CTRL + S
CTRL + P
CTRL + N
ALT + F4
CTRL + O
CTRL + W (CTRL + F4)
F9

CTRL + 1
CTRL + B

CTRL + I
CTRL + U
SHIFT + F2

Editing
Cells
Edit Cell
Cancel cell entry
Anchor cells
Highlight within cells

F2
ESC
F4
SHIFT + Arrow Keys

Fill Down
Fill Right

CTRL + D
CTRL + R

Copy
Paste
Paste Special
Cut
Undo
Repeat

CTRL
CTRL
CTRL
CTRL
CTRL
CTRL

Row/Columns
Select Column
Select Row
Delete Row or Column
Insert Row or Column
Group/Ungroup rows or columns

CTRL + SPACE
SHIFT + SPACE
CTRL + "-"
CTRL + "+"
ALT + SHIFT + Left/Right Arrow K

Tools/Other Features
Display Name Menu
Go To
Find
Replace

CTRL
F5 or
CTRL
CTRL

Auditing
Show Formulas
Go To

CTRL + ~
F5 or CTRL + G

+
+
+
+
+
+

C
V
ALT + V
X
Z
Y

+ F3
CTRL + G
+F
+H

ALT Shortcuts
Cell Size
Row Height
AutoFit Row Height
Column Width
AutoFit Column Width
Default Column Width
Visibility
Hide/Unhide Columns, Rows & Sheets
Organize Sheets
Rename Sheet
Move or Copy Sheet
Tab Color

Viewing
Freeze Panes
Split Screen

Left/Right Arrow Keys

Tools
Sort
Filter
Text to Columns
Data Validation
Auditing
Trace Precedents
Trace Dependents
Remove Trace Arrows
Track Changes

ALT
ALT
ALT
ALT
ALT

+
+
+
+
+

H
H
H
H
H

+
+
+
+
+

O
O
O
O
O

+
+
+
+
+

H
A
W
I
D

ALT + H + O + U

ALT + H + O + R
ALT + H + O + M
ALT + H + O + T

ALT + W + F + F
ALT + W + S

ALT
ALT
ALT
ALT

+
+
+
+

A
A
A
A

+
+
+
+

SS
T
E
V

ALT
ALT
ALT
ALT

+
+
+
+

M+P
M+D
M+A+A
R+G