Capital Employed

400 Cabs
Fixed
Downpayment 24,000,000
GPS 12,000,000
CNG Kit, Taxi Meter 12,000,000
Office Equipment 1,500,000
Insurance, Road Tax 10,000,000
Total 59,500,000

Driver Deposit 20,400,000

Net 39,100,000

Balance Sheet 2011 2012 2013 2014 2015

Assets

Fixed Assets
Car 160000000 128000000 96000000 64000000 32000000
CNG Kit 12000000 9600000 7200000 4800000 2400000
GPS 12000000 9600000 7200000 4800000 2400000
Total 184000000 147200000 110400000 73600000 36800000
Depreciation@ 20% 36800000 36800000 36800000 36800000 36800000
147200000 110400000 73600000 36800000 0
Office Equipment 1500000 1300000 1000000 800000 500000
Total Fixed Assets 148,700,000 111,700,000 74,600,000 37,600,000 500,000

Current Assets
Cash 12220000 22,020,000 31,920,000 41,720,000 31,220,000
Bank 5000000 5000000 5000000 5000000 5000000
Total Current Assets 17220000 27,020,000 36,920,000 46,720,000 36,220,000

Total Assets 165,920,000 138,720,000 111,520,000 84,320,000 36,720,000

Liabilities

Loans and Advances

Drivers Deposit 20400000 20400000 20400000 20400000 0
Secured Loans 145,520,000 118,320,000 91,120,000 63,920,000 36,720,000
Total Liabilities 165,920,000 138,720,000 111,520,000 84,320,000 36,720,000

Cash Flows 2009 2010 2011 2012 2013

Cash From Operations

Cash Sales 144000000 144000000 144000000 144000000 144000000
Other Income 0 48000000 48000000 48000000 48000000
144,000,000 192,000,000 192,000,000 192,000,000 192,000,000

Expenditures

Expenditures from Operations

EMI 27,200,000 27,200,000 27,200,000 27,200,000 27,200,000
Admin& Staff 4,800,000 4,800,000 4,800,000 4,800,000 4,800,000
Telephone& Internet 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000
Office Rent 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000
Promotion 1,800,000 1,800,000 1,800,000 1,800,000 1,800,000
Legal/CA 240,000 240,000 240,000 240,000 240,000
Insurance 10,000,000 8,800,000 8,000,000 7,200,000 6,000,000
Stationary 480,000 480,000 480,000 480,000 480,000
Depreciation 36,800,000 36,800,000 36,800,000 36,800,000 36,800,000
83,720,000 82,520,000 81,720,000 80,920,000 79,720,000

EBIT 60,280,000 109,480,000 110,280,000 111,080,000 112,280,000

Interest on Car Loan 1904000 1904000 1904000 1904000 1904000
PBT 58,376,000 107,576,000 108,376,000 109,176,000 110,376,000
Tax @ 25% 14594000 26894000 27094000 27294000 27594000
Profit After Tax 43,782,000 80,682,000 81,282,000 81,882,000 82,782,000
Depreciation 9,200,000 9,200,000 9,200,000 9,200,000 9,200,000
Interest earned on Deposits @
6% 1,224,000 1,224,000 1,224,000 1,224,000 1,224,000
Interest 476,000 476,000 476,000 476,000 476,000
Total Inflows 54,682,000 91,582,000 92,182,000 92,782,000 93,682,000
P.V. @ 10% 0.909 0.826 0.751 0.683 0.621
Present Value of Total Inflows 49,705,938 75,646,732 69,228,682 63,370,106 58,176,522
Total PV of Inflows 316,127,980

Outflow 39,100,000
CVF of Deposits @ 10% 32,864,400
Total Outflow 71,964,400
Net Present Value 244,163,580
Profitability of Index 4.39
Payback Period 1.294
IRR 72.157
Variabale Cost 9720000 9720000 9720000 9720000 9720000
Contribution 134280000 134280000 134280000 134280000 134280000
Financial Leverage 1.033 1.018 1.018 1.017 1.017
Operating Leverage 2.228 1.227 1.218 1.209 1.196
DOL 2.300 1.248 1.239 1.230 1.217

Return on Capital Employed 111.97% 206.35% 207.88% 209.42% 211.72%

Return on Total Assets 26.39% 58.16% 72.89% 97.11% 225.44%
Per Car
Year Principal Interest @ 7% EMI
1 68000 4760 72760
2 68000 4760 72760
3 68000 4760 72760
4 68000 4760 72760
5 68000 4760 72760
340000 23800 363800

Interest (%) PVFA

70 1.328
71 1.312
72 1.297
73 1.281