COST 20,000,000

RESALE VALUE 4,000,000 EQUIPMENT

RENT 10,000 PER MONTH INVENTORY
FC 1,500,000 PAYABLES
VC 400 PER UNIT RECIVABLES
AR 1,000,000 WACP
AP 600,000
NET WC 5% OF SALES
WACC 14%

INTEREST 400,000
TAX 34%

1 2 3 4
EQUIPMENT 16,000,000 16,000,000 16,000,000 16,000,000
DEPRICIATION RATE 14.29% 24.49% 17.49% 12.49%

BASE YEAR 1 2 3 4

SALES UNIT 30,000 34,000 38800 38000

SP 1000 1000 1000 950

SALES 30,000,000 34,000,000 38,800,000 36,100,000

VC ₹ 12,000,000 ₹ 13,600,000 ₹ 15,520,000 ₹ 15,200,000
CONTRIBUTION 18,000,000 20,400,000 23,280,000 20,900,000
FIXED COST 1,500,000 1,500,000 1,500,000 1,500,000
LEASE 120,000 120,000 120,000 120,000
EBITDA 16,380,000 18,780,000 21,660,000 19,280,000
DEPRICIATION 2,286,400 3,918,400 2,798,400 1,998,400
EBIT 14,093,600 14,861,600 18,861,600 17,281,600
INTEREST 400,000 400,000 400,000 400,000
NPBT 13,693,600 14,461,600 18,461,600 16,881,600
TAX 4,655,824 4,916,944 6,276,944 5,739,744
NPA 9,037,776 9,544,656 12,184,656 11,141,856
CFAT 11,324,176 13,463,056 14,983,056 13,140,256
WC 1,500,000 1,700,000 1,940,000 1,805,000

CONTRI PER UNIT 600 600 600 550

NORMAL BE 2,700 2,700 2,700 2,945
CASH BE 6,510.67 9,230.67 7,364.00 6,578.91
FIN BE 7,177.33 9,897.33 8,030.67 7,306.18
PESIMISTIC 25500 28900 32980 32300
SP 1000 1000 1000 950

SALES 25,500,000 28,900,000 32,980,000 30,685,000

VC ₹ 10,200,000 ₹ 11,560,000 ₹ 13,192,000 ₹ 12,920,000
CONTRIBUTION 15,300,000 17,340,000 19,788,000 17,765,000
FIXED COST 1,500,000 1,500,000 1,500,000 1,500,000
LEASE 120,000 120,000 120,000 120,000
EBITDA 13,680,000 15,720,000 18,168,000 16,145,000
DEPRICIATION 2,286,400 3,918,400 2,798,400 1,998,400
EBIT 11,393,600 11,801,600 15,369,600 14,146,600
INTEREST 400,000 400,000 400,000 400,000
NPBT 10,993,600 11,401,600 14,969,600 13,746,600
TAX 3,737,824 3,876,544 5,089,664 4,673,844
NPA 7,255,776 7,525,056 9,879,936 9,072,756
CFAT 9,542,176 11,443,456 12,678,336 11,071,156
WC 1,275,000 1,445,000 1,649,000 1,534,250

OPTIMISTIC 34500 39100 44620 43700

SP 1000 1000 1000 950

SALES 34,500,000 39,100,000 44,620,000 41,515,000

VC ₹ 13,800,000 ₹ 15,640,000 ₹ 17,848,000 ₹ 17,480,000
CONTRIBUTION 20,700,000 23,460,000 26,772,000 24,035,000
FIXED COST 1,500,000 1,500,000 1,500,000 1,500,000
LEASE 120,000 120,000 120,000 120,000
EBITDA 19,080,000 21,840,000 25,152,000 22,415,000
DEPRICIATION 2,286,400 3,918,400 2,798,400 1,998,400
EBIT 16,793,600 17,921,600 22,353,600 20,416,600
INTEREST 400,000 400,000 400,000 400,000
NPBT 16,393,600 17,521,600 21,953,600 20,016,600
TAX 5,573,824 5,957,344 7,464,224 6,805,644
NPA 10,819,776 11,564,256 14,489,376 13,210,956
CFAT 13,106,176 15,482,656 17,287,776 15,209,356

BASE CASE WCAP 1500000 1700000 1940000 1805000

CFAT WC CF
-20,900,000
11324176 (600,000) 10,724,176
13463056 (200,000) 13,263,056
14983056 (240,000) 14,743,056
13140256 135,000 13,275,256
12220592 95,000 12,315,592
12220592 - 12,220,592
 12039092 23,750 12,062,842
10458880 111,250 10,570,130
10051800 22,500 10,074,300
9886800 5,530,000 15,416,800

IRR 58.53%
NPV 44,270,423

OPTIMISTIC 1275000 1445000 1649000 1534250

CFAT WC CF
 20,000,000 ASSETS WE REDUCE THE SCRAP VALUE SO TO GET THE TRUE
VALUE OF THE ASSET TO BE DEPRICIATED
500,000
₹ -600,000
1,000,000
20,900,000 CFAT NAPT+DEPRI

CASH AVAILABLE FORM OPERATIONS

TO CHANGE WCAP AND CHANGE IN F

5 6 7 8 9
16,000,000 16,000,000 16,000,000 16,000,000 16,000,000
8.93% 8.93% 8.93% 4.45%

5 6 7 8 9

36000 36000 35500 35000 34500

950 950 950 900 900

34,200,000 34,200,000 33,725,000 31,500,000 31,050,000

₹ 14,400,000 ₹ 14,400,000 ₹ 14,200,000 ₹ 14,000,000 ₹ 13,800,000
19,800,000 19,800,000 19,525,000 17,500,000 17,250,000
1,500,000 1,500,000 1,500,000 1,500,000 1,500,000
120,000 120,000 120,000 120,000 120,000
18,180,000 18,180,000 17,905,000 15,880,000 15,630,000
1,428,800 1,428,800 1,428,800 712,000 -
16,751,200 16,751,200 16,476,200 15,168,000 15,630,000
400,000 400,000 400,000 400,000 400,000
16,351,200 16,351,200 16,076,200 14,768,000 15,230,000
5,559,408 5,559,408 5,465,908 5,021,120 5,178,200
10,791,792 10,791,792 10,610,292 9,746,880 10,051,800
12,220,592 12,220,592 12,039,092 10,458,880 10,051,800
1,710,000 1,710,000 1,686,250 1,575,000 1,552,500

550 550 550 500 500

2,945 2,945 2,945 3,240 3,240
5,543.27 5,543.27 5,543.27 4,664.00 3,240.00
6,270.55 6,270.55 6,270.55 5,464.00 4,040.00
 30600 30600 30175 29750 29325
950 950 950 900 900

29,070,000 29,070,000 28,666,250 26,775,000 26,392,500

₹ 12,240,000 ₹ 12,240,000 ₹ 12,070,000 ₹ 11,900,000 ₹ 11,730,000
16,830,000 16,830,000 16,596,250 14,875,000 14,662,500
1,500,000 1,500,000 1,500,000 1,500,000 1,500,000
120,000 120,000 120,000 120,000 120,000
15,210,000 15,210,000 14,976,250 13,255,000 13,042,500
1,428,800 1,428,800 1,428,800 712,000 -
13,781,200 13,781,200 13,547,450 12,543,000 13,042,500
400,000 400,000 400,000 400,000 400,000
13,381,200 13,381,200 13,147,450 12,143,000 12,642,500
4,549,608 4,549,608 4,470,133 4,128,620 4,298,450
8,831,592 8,831,592 8,677,317 8,014,380 8,344,050
10,260,392 10,260,392 10,106,117 8,726,380 8,344,050
1,453,500 1,453,500 1,433,313 1,338,750 1,319,625

41400 41400 40825 40250 39675

950 950 950 900 900

39,330,000 39,330,000 38,783,750 36,225,000 35,707,500

₹ 16,560,000 ₹ 16,560,000 ₹ 16,330,000 ₹ 16,100,000 ₹ 15,870,000
22,770,000 22,770,000 22,453,750 20,125,000 19,837,500
1,500,000 1,500,000 1,500,000 1,500,000 1,500,000
120,000 120,000 120,000 120,000 120,000
21,150,000 21,150,000 20,833,750 18,505,000 18,217,500
1,428,800 1,428,800 1,428,800 712,000 -
19,721,200 19,721,200 19,404,950 17,793,000 18,217,500
400,000 400,000 400,000 400,000 400,000
19,321,200 19,321,200 19,004,950 17,393,000 17,817,500
6,569,208 6,569,208 6,461,683 5,913,620 6,057,950
12,751,992 12,751,992 12,543,267 11,479,380 11,759,550
14,180,792 14,180,792 13,972,067 12,191,380 11,759,550

1710000 1710000 1686250 1575000 1552500

1453500 1453500 1433312.5 1338750 1319625
 FREE CASH FLOW CFAT- CHANGE IN WCAP
ALUE SO TO GET THE TRUE
E DEPRICIATED

VAILABLE FORM OPERATIONS OF BUSINESS AFTER UTILISING IT

NGE WCAP AND CHANGE IN FIXED ASSETS.

10
16,000,000

10

34000
900

30,600,000
₹ 13,600,000
17,000,000
1,500,000
120,000
15,380,000
-
15,380,000
400,000
14,980,000
5,093,200
9,886,800
9,886,800
1,530,000

500
3,240
3,240.00
4,040.00
 28900
900

26,010,000
₹ 11,560,000
14,450,000
1,500,000
120,000
12,830,000
-
12,830,000
400,000
12,430,000
4,226,200
8,203,800
8,203,800
1,300,500

39100
900

35,190,000
₹ 15,640,000
19,550,000
1,500,000
120,000
17,930,000
-
17,930,000
400,000
17,530,000
5,960,200
11,569,800
11,569,800

1530000
1300500
AT- CHANGE IN WCAP