INR (₹)

Income Statement
Revenue 150,000.00 165,000.00
COGS 67,500.00 74,250.00
Gross profit 82,500.00 90,750.00
SG&A 16,500.00 18,150.00
EBITDA 66,000.00 72,600.00
Depreciation 6,600.00 7,260.00
Interest 1,000.00 1,000.00
EBT 58,400.00 64,340.00
Taxes 17,520.00 19,302.00
Net Income 40,880.00 45,038.00

Debt 10,000.00
INR (₹) in 1000 2022A 2023A 2024E 2025E

Income Statement
Revenue 150,000.00 165,000.00 181,500.00 199,650.00
COGS 67,500.00 74,250.00 81,675.00 89,842.50
Gross profit 82,500.00 90,750.00 99,825.00 109,807.50
SG&A 16,500.00 18,150.00 20,000.00 20,000.00
EBITDA 66,000.00 72,600.00 79,825.00 89,807.50
Depreciation 6,600.00 7,260.00 7,986.00 8,784.60
Interest 1,000.00 1,000.00 1,000.00 1,000.00
EBT 58,400.00 64,340.00 70,839.00 80,022.90
Taxes 17,520.00 19,302.00 21,251.70 24,006.87
Net Income 40,880.00 45,038.00 49,587.30 56,016.03

Assumptions
Revenue Growth - 10.00% 10.00% 10.00%
COGS % Revenue 45.00% 45.00% 45.00% 45.00%
SG&A 16500.00 18150.00 20000.00 20000.00
Depreciation % Revenue 4.40% 4.40% 4.40% 4.40%
Interest 1000.00 1000.00 1000.00 1000.00
taxes 30.00% 30.00% 30.00% 30.00%

Analysis
Common Size Income Statement
Revenue 100.00% 100.00% 100.00% 100.00%
COGS 45.00% 45.00% 45.00% 45.00%
Gross profit 55.00% 55.00% 55.00% 55.00%
SG&A 11.00% 11.00% 11.02% 10.02%
EBITDA 44.00% 44.00% 43.98% 44.98%
Depreciation 4.40% 4.40% 4.40% 4.40%
Interest 0.67% 0.61% 0.55% 0.50%
EBT 38.93% 38.99% 39.03% 40.08%
Taxes 11.68% 11.70% 11.71% 12.02%
Net Income 27.25% 27.30% 27.32% 28.06%

% Change 10.00%
Revenue 165,000.00 181,500.00 199,650.00 219,615.00
COGS 74,250.00 81,675.00 89,842.50 98,826.75
Gross profit 90,750.00 99,825.00 109,807.50 120,788.25
SG&A 18,150.00 19,965.00 22,000.00 22,000.00
EBITDA 72,600.00 79,860.00 87,807.50 98,788.25
Depreciation 7,260.00 7,986.00 8,784.60 9,663.06
Interest 1,100.00 1,100.00 1,100.00 1,100.00
EBT 64,240.00 70,774.00 77,922.90 88,025.19
Taxes 19,272.00 21,232.20 23,376.87 26,407.56
Net Income 44,968.00 49,541.80 54,546.03 61,617.63
EBITDA 66,000.00 72,600.00 79,825.00 89,807.50

EBITDA Sensitivity 72,600.00 79,860.00 87,807.50 98,788.25

Time Periods 9/26/2023 0 1 2 3

Monthly Data 9/30/2023 10/31/2023 11/30/2023 12/31/2023
Annual Data 12/31/2023 12/31/2024 12/31/2025 12/31/2026

Monthly Data 0.011 0.097 0.178 0.264

Annual Data 0.264 1.264 2.264 3.264
Stub or Full Year Stub Full Year Full Year Full Year

Cost Analysis
COGS 10 67,500.00 74,250.00 81,675.00 89,842.50
SG&A 12 16,500.00 18,150.00 20,000.00 20,000.00
Depreciation 8 6,600.00 7,260.00 7,986.00 8,784.60
Interest 7 1,000.00 1,000.00 1,000.00 1,000.00
Taxes 15 17,520.00 19,302.00 21,251.70 24,006.87
Total 109,120.00 119,962.00 131,912.70 143,633.97
Average 21,824.00 23,992.40 26,382.54 28,726.79
Weighted Average 22992.31 25286.73 27815.64 30303.94
Median 16,500.00 18,150.00 20,000.00 20,000.00
 2026E 2027E 2028E

219,615.00 241,576.50 265,734.15

98,826.75 108,709.43 119,580.37
120,788.25 132,867.08 146,153.78
20,000.00 20,000.00 20,000.00
100,788.25 112,867.08 126,153.78
9,663.06 10,629.37 11,692.30
1,000.00 1,000.00 1,000.00
90,125.19 101,237.71 113,461.48
27,037.56 30,371.31 34,038.44
63,087.63 70,866.40 79,423.04

10.00% 10.00% 10.00%

45.00% 45.00% 45.00%
20000.00 20000.00 20000.00
4.40% 4.40% 4.40%
1000.00 1000.00 1000.00
30.00% 30.00% 30.00%

100.00% 100.00% 100.00%

45.00% 45.00% 45.00%
55.00% 55.00% 55.00%
9.11% 8.28% 7.53%
45.89% 46.72% 47.47%
4.40% 4.40% 4.40%
0.46% 0.41% 0.38%
41.04% 41.91% 42.70%
12.31% 12.57% 12.81%
28.73% 29.33% 29.89%

241,576.50 265,734.15 292,307.57

108,709.43 119,580.37 131,538.40
132,867.08 146,153.78 160,769.16
22,000.00 22,000.00 22,000.00
110,867.08 124,153.78 138,769.16
10,629.37 11,692.30 12,861.53
1,100.00 1,100.00 1,100.00
99,137.71 111,361.48 124,807.63
29,741.31 33,408.44 37,442.29
69,396.40 77,953.04 87,365.34
100,788.25 112,867.08 126,153.78

110,867.08 124,153.78 138,769.16

4 5 6
1/31/2024 2/29/2024 3/31/2024
12/31/2027 12/31/2028 12/31/2029

0.347 0.425 0.514

4.264 5.264 6.264
Full Year Full Year Full Year

98,826.75 108,709.43 119,580.37

20,000.00 20,000.00 20,000.00
9,663.06 10,629.37 11,692.30
1,000.00 1,000.00 1,000.00
27,037.56 30,371.31 34,038.44
156,527.37 170,710.10 186,311.11
31,305.47 34,142.02 37,262.22
33041.06 36051.90 39363.82
20,000.00 20,000.00 20,000.00