Documente Academic
Documente Profesional
Documente Cultură
00%
Statutory liquidit 20.50%
Total Reserve re 24.50%
Loan to
Deposits (Rs.)
Reserve (Rs.)Loan (Rs.)
deposit ratio
100,000 24,500 75,500 75.50%
75,500 18,498 57,003 75.50%
57,003 13,966 43,037 75.50%
43,037 10,544 32,493 75.50%
32,493 7,961 24,532 75.50%
24,532 6,010 18,522 75.50%
332,564 81,478 251,086 75.50%
Customs; 9%
Income tax; 14%
0
12,500
100,000
15,000
127,500 `
45,000
Government Earnings
on-debt capital receipts; 3%
3% Borrowing and other liabilities; 21%
; 9%
Income tax; 14%
Savings per annum 120000
Savings per month 10000
Annual growth rate in savings 5.00%
Interest rate 8.50% 0.71%
Age (current) 22
Retirement age 65
Total available savings duration 43 516
Start date 1/1/2015
End date 31-12-2058
Compounding per year 12
Amount
Month and Year (without
growth)
Jan-15 10000
Feb-15 10000
Mar-15 10000
Apr-15 10000
May-15 10000
Jun-15 10000
Jul-15 10000
Aug-15 10000
Sep-15 10000
Oct-15 10000
Nov-15 10000
Dec-15 10000
Jan-16 10000
Feb-16 10000
Mar-16 10000
Apr-16 10000
May-16 10000
Jun-16 10000
Jul-16 10000
Aug-16 10000
Sep-16 10000
Oct-16 10000
Nov-16 10000
Dec-16 10000
Jan-17 10000
Feb-17 10000
Mar-17 10000
Apr-17 10000
May-17 10000
Jun-17 10000
Jul-17 10000
Aug-17 10000
Sep-17 10000
Oct-17 10000
Nov-17 10000
Dec-17 10000
Jan-18 10000
Feb-18 10000
Mar-18 10000
Apr-18 10000
May-18 10000
Jun-18 10000
Jul-18 10000
Aug-18 10000
Sep-18 10000
Oct-18 10000
Nov-18 10000
Dec-18 10000
Jan-19 10000
Feb-19 10000
Mar-19 10000
Apr-19 10000
May-19 10000
Jun-19 10000
Jul-19 10000
Aug-19 10000
Sep-19 10000
Oct-19 10000
Nov-19 10000
Dec-19 10000
Jan-20 10000
Feb-20 10000
Mar-20 10000
Apr-20 10000
May-20 10000
Jun-20 10000
Jul-20 10000
Aug-20 10000
Sep-20 10000
Oct-20 10000
Nov-20 10000
Dec-20 10000
Jan-21 10000
Feb-21 10000
Mar-21 10000
Apr-21 10000
May-21 10000
Jun-21 10000
Jul-21 10000
Aug-21 10000
Sep-21 10000
Oct-21 10000
Nov-21 10000
Dec-21 10000
Jan-22 10000
Feb-22 10000
Mar-22 10000
Apr-22 10000
May-22 10000
Jun-22 10000
Jul-22 10000
Aug-22 10000
Sep-22 10000
Oct-22 10000
Nov-22 10000
Dec-22 10000
Jan-23 10000
Feb-23 10000
Mar-23 10000
Apr-23 10000
May-23 10000
Jun-23 10000
Jul-23 10000
Aug-23 10000
Sep-23 10000
Oct-23 10000
Nov-23 10000
Dec-23 10000
Jan-24 10000
Feb-24 10000
Mar-24 10000
Apr-24 10000
May-24 10000
Jun-24 10000
Jul-24 10000
Aug-24 10000
Sep-24 10000
Oct-24 10000
Nov-24 10000
Dec-24 10000
Jan-25 10000
Feb-25 10000
Mar-25 10000
Apr-25 10000
May-25 10000
Jun-25 10000
Jul-25 10000
Aug-25 10000
Sep-25 10000
Oct-25 10000
Nov-25 10000
Dec-25 10000
Jan-26 10000
Feb-26 10000
Mar-26 10000
Apr-26 10000
May-26 10000
Jun-26 10000
Jul-26 10000
Aug-26 10000
Sep-26 10000
Oct-26 10000
Nov-26 10000
Dec-26 10000
Jan-27 10000
Feb-27 10000
Mar-27 10000
Apr-27 10000
May-27 10000
Jun-27 10000
Jul-27 10000
Aug-27 10000
Sep-27 10000
Oct-27 10000
Nov-27 10000
Dec-27 10000
Jan-28 10000
Feb-28 10000
Mar-28 10000
Apr-28 10000
May-28 10000
Jun-28 10000
Jul-28 10000
Aug-28 10000
Sep-28 10000
Oct-28 10000
Nov-28 10000
Dec-28 10000
Jan-29 10000
Feb-29 10000
Mar-29 10000
Apr-29 10000
May-29 10000
Jun-29 10000
Jul-29 10000
Aug-29 10000
Sep-29 10000
Oct-29 10000
Nov-29 10000
Dec-29 10000
Jan-30 10000
Feb-30 10000
Mar-30 10000
Apr-30 10000
May-30 10000
Jun-30 10000
Jul-30 10000
Aug-30 10000
Sep-30 10000
Oct-30 10000
Nov-30 10000
Dec-30 10000
Jan-31 10000
Feb-31 10000
Mar-31 10000
Apr-31 10000
May-31 10000
Jun-31 10000
Jul-31 10000
Aug-31 10000
Sep-31 10000
Oct-31 10000
Nov-31 10000
Dec-31 10000
Jan-32 10000
Feb-32 10000
Mar-32 10000
Apr-32 10000
May-32 10000
Jun-32 10000
Jul-32 10000
Aug-32 10000
Sep-32 10000
Oct-32 10000
Nov-32 10000
Dec-32 10000
Jan-33 10000
Feb-33 10000
Mar-33 10000
Apr-33 10000
May-33 10000
Jun-33 10000
Jul-33 10000
Aug-33 10000
Sep-33 10000
Oct-33 10000
Nov-33 10000
Dec-33 10000
Jan-34 10000
Feb-34 10000
Mar-34 10000
Apr-34 10000
May-34 10000
Jun-34 10000
Jul-34 10000
Aug-34 10000
Sep-34 10000
Oct-34 10000
Nov-34 10000
Dec-34 10000
Jan-35 10000
Feb-35 10000
Mar-35 10000
Apr-35 10000
May-35 10000
Jun-35 10000
Jul-35 10000
Aug-35 10000
Sep-35 10000
Oct-35 10000
Nov-35 10000
Dec-35 10000
Jan-36 10000
Feb-36 10000
Mar-36 10000
Apr-36 10000
May-36 10000
Jun-36 10000
Jul-36 10000
Aug-36 10000
Sep-36 10000
Oct-36 10000
Nov-36 10000
Dec-36 10000
Jan-37 10000
Feb-37 10000
Mar-37 10000
Apr-37 10000
May-37 10000
Jun-37 10000
Jul-37 10000
Aug-37 10000
Sep-37 10000
Oct-37 10000
Nov-37 10000
Dec-37 10000
Jan-38 10000
Feb-38 10000
Mar-38 10000
Apr-38 10000
May-38 10000
Jun-38 10000
Jul-38 10000
Aug-38 10000
Sep-38 10000
Oct-38 10000
Nov-38 10000
Dec-38 10000
Jan-39 10000
Feb-39 10000
Mar-39 10000
Apr-39 10000
May-39 10000
Jun-39 10000
Jul-39 10000
Aug-39 10000
Sep-39 10000
Oct-39 10000
Nov-39 10000
Dec-39 10000
Jan-40 10000
Feb-40 10000
Mar-40 10000
Apr-40 10000
May-40 10000
Jun-40 10000
Jul-40 10000
Aug-40 10000
Sep-40 10000
Oct-40 10000
Nov-40 10000
Dec-40 10000
Jan-41 10000
Feb-41 10000
Mar-41 10000
Apr-41 10000
May-41 10000
Jun-41 10000
Jul-41 10000
Aug-41 10000
Sep-41 10000
Oct-41 10000
Nov-41 10000
Dec-41 10000
Jan-42 10000
Feb-42 10000
Mar-42 10000
Apr-42 10000
May-42 10000
Jun-42 10000
Jul-42 10000
Aug-42 10000
Sep-42 10000
Oct-42 10000
Nov-42 10000
Dec-42 10000
Jan-43 10000
Feb-43 10000
Mar-43 10000
Apr-43 10000
May-43 10000
Jun-43 10000
Jul-43 10000
Aug-43 10000
Sep-43 10000
Oct-43 10000
Nov-43 10000
Dec-43 10000
Jan-44 10000
Feb-44 10000
Mar-44 10000
Apr-44 10000
May-44 10000
Jun-44 10000
Jul-44 10000
Aug-44 10000
Sep-44 10000
Oct-44 10000
Nov-44 10000
Dec-44 10000
Jan-45 10000
Feb-45 10000
Mar-45 10000
Apr-45 10000
May-45 10000
Jun-45 10000
Jul-45 10000
Aug-45 10000
Sep-45 10000
Oct-45 10000
Nov-45 10000
Dec-45 10000
Jan-46 10000
Feb-46 10000
Mar-46 10000
Apr-46 10000
May-46 10000
Jun-46 10000
Jul-46 10000
Aug-46 10000
Sep-46 10000
Oct-46 10000
Nov-46 10000
Dec-46 10000
Jan-47 10000
Feb-47 10000
Mar-47 10000
Apr-47 10000
May-47 10000
Jun-47 10000
Jul-47 10000
Aug-47 10000
Sep-47 10000
Oct-47 10000
Nov-47 10000
Dec-47 10000
Jan-48 10000
Feb-48 10000
Mar-48 10000
Apr-48 10000
May-48 10000
Jun-48 10000
Jul-48 10000
Aug-48 10000
Sep-48 10000
Oct-48 10000
Nov-48 10000
Dec-48 10000
Jan-49 10000
Feb-49 10000
Mar-49 10000
Apr-49 10000
May-49 10000
Jun-49 10000
Jul-49 10000
Aug-49 10000
Sep-49 10000
Oct-49 10000
Nov-49 10000
Dec-49 10000
Jan-50 10000
Feb-50 10000
Mar-50 10000
Apr-50 10000
May-50 10000
Jun-50 10000
Jul-50 10000
Aug-50 10000
Sep-50 10000
Oct-50 10000
Nov-50 10000
Dec-50 10000
Jan-51 10000
Feb-51 10000
Mar-51 10000
Apr-51 10000
May-51 10000
Jun-51 10000
Jul-51 10000
Aug-51 10000
Sep-51 10000
Oct-51 10000
Nov-51 10000
Dec-51 10000
Jan-52 10000
Feb-52 10000
Mar-52 10000
Apr-52 10000
May-52 10000
Jun-52 10000
Jul-52 10000
Aug-52 10000
Sep-52 10000
Oct-52 10000
Nov-52 10000
Dec-52 10000
Jan-53 10000
Feb-53 10000
Mar-53 10000
Apr-53 10000
May-53 10000
Jun-53 10000
Jul-53 10000
Aug-53 10000
Sep-53 10000
Oct-53 10000
Nov-53 10000
Dec-53 10000
Jan-54 10000
Feb-54 10000
Mar-54 10000
Apr-54 10000
May-54 10000
Jun-54 10000
Jul-54 10000
Aug-54 10000
Sep-54 10000
Oct-54 10000
Nov-54 10000
Dec-54 10000
Jan-55 10000
Feb-55 10000
Mar-55 10000
Apr-55 10000
May-55 10000
Jun-55 10000
Jul-55 10000
Aug-55 10000
Sep-55 10000
Oct-55 10000
Nov-55 10000
Dec-55 10000
Jan-56 10000
Feb-56 10000
Mar-56 10000
Apr-56 10000
May-56 10000
Jun-56 10000
Jul-56 10000
Aug-56 10000
Sep-56 10000
Oct-56 10000
Nov-56 10000
Dec-56 10000
Jan-57 10000
Feb-57 10000
Mar-57 10000
Apr-57 10000
May-57 10000
Jun-57 10000
Jul-57 10000
Aug-57 10000
Sep-57 10000
Oct-57 10000
Nov-57 10000
Dec-57 10000
Jan-58 10000
Feb-58 10000
Mar-58 10000
Apr-58 10000
May-58 10000
Jun-58 10000
Jul-58 10000
Aug-58 10000
Sep-58 10000
Oct-58 10000
Nov-58 10000
Dec-58 10000
FV of an annuity of Rs.1,20,000 for 43 years @ monthly compounding
PV of this annuity
Mothly income on FV of annuity
Monthly income on PV of this annuity
FV of annuity (Annual)
629,746,304.33
45,712,117.56
53,890,623.40
Currency in circulation 13786.57
Total value of gold reserve 1212.1
Total value of forex reserve 17846.9
(Rs.'000)
Price of a flat 5,000.00
Annual rent 360.00
Life in years 60
Current borrowing rate 7.00%
Terminal valule 100.00
NPV 55.83
IRR 0.08%
Average 84.26
Standard deviation 89.08
CF with growth Growth PV of CF
-5,000.00
360.00 0 336.45
378.00 5.00% 330.16
396.90 5.00% 323.99
416.75 5.00% 317.93
437.58 5.00% 311.99
459.46 5.00% 306.16
482.43 5.00% 300.44
506.56 5.00% 294.82
531.88 5.00% 289.31
558.48 5.00% 283.90
586.40 5.00% 278.60
615.72 5.00% 273.39
646.51 5.00% 268.28
678.83 5.00% 263.26
712.78 5.00% 258.34
748.41 5.00% 253.51
785.83 5.00% 248.78
825.13 5.00% 244.13
866.38 5.00% 239.56
909.70 5.00% 235.08
955.19 5.00% 230.69
1002.95 5.00% 226.38
1053.09 5.00% 222.15
1105.75 5.00% 217.99
1161.04 5.00% 213.92
1219.09 5.00% 209.92
1280.04 5.00% 206.00
1344.04 5.00% 202.15
1411.25 5.00% 198.37
1481.81 5.00% 194.66
1555.90 5.00% 191.02
1633.69 5.00% 187.45
1715.38 5.00% 183.95
1801.15 5.00% 180.51
1891.21 5.00% 177.14
1985.77 5.00% 173.82
2085.05 5.00% 170.58
2189.31 5.00% 167.39
2298.77 5.00% 164.26
2413.71 5.00% 161.19
2534.40 5.00% 158.18
2661.12 5.00% 155.22
2794.17 5.00% 152.32
2933.88 5.00% 149.47
3080.57 5.00% 146.68
3234.60 5.00% 143.94
3396.33 5.00% 141.24
3566.15 5.00% 138.60
3744.46 5.00% 136.01
3931.68 5.00% 133.47
4128.26 5.00% 130.98
4334.68 5.00% 128.53
4551.41 5.00% 126.13
4778.98 5.00% 123.77
5017.93 5.00% 121.46
5268.83 5.00% 119.19
5532.27 5.00% 116.96
5808.88 5.00% 114.77
6099.33 5.00% 112.63
6404.29 5.00% 110.52
12,197.65
7,197.65
12%
2,121.50
1,696.71
Price of a Bus
Life in years
Current borrowing rate
Terminal valule
NPV 3,629.15
IRR 14%
Average 890.00
Standard deviation 345.50
(Rs.'000)
5,000.00
20
7.00%
100.00
PV of CF Year
Actual cash flow
186.92 1 200.00
262.03 2 300.00
489.78 3 600.00
610.32 4 800.00
499.09 5 700.00
433.12 6 650.00
529.34 7 850.00
582.01 8 1,000.00
652.72 9 1,200.00
482.93 10 950.00
593.87 11 1,250.00
577.22 12 1,300.00
560.20 13 1,350.00
484.77 14 1,250.00
489.30 15 1,350.00
270.99 16 800.00
269.09 17 850.00
207.10 18 700.00
138.25 19 500.00
310.10 20 1,200.00
8,629.15
821.82
1,795.66
19,875.78
Average cash flow PV of CF
Average of PV
890.00 186.92 431.46
890.00 262.03 431.46
890.00 489.78 431.46
890.00 610.32 431.46
890.00 499.09 431.46
890.00 433.12 431.46
890.00 529.34 431.46
890.00 582.01 431.46
890.00 652.72 431.46
890.00 482.93 431.46
890.00 593.87 431.46
890.00 577.22 431.46
890.00 560.20 431.46
890.00 484.77 431.46
890.00 489.30 431.46
890.00 270.99 431.46
890.00 269.09 431.46
890.00 207.10 431.46
890.00 138.25 431.46
890.00 310.10 431.46
Preliminary forecast
Expected number of
100
customers
Expected number of
Year Income
customers
0
1 100 370,000
2 120 444,000
3 150 555,000
4 200 740,000
5 210 777,000
6 215 795,500
7 230 851,000
8 230 851,000
9 240 888,000
10 250 925,000
7,196,500
Average return 719,650
Standard deviation 194313.613922
IRR
Revised forecast
Expected
million number of
customers
number
Cash PV of cash
Profit (CF) of
flow flow
customer
-500,000
-130,000 100
-56,000 120
55,000 120
240,000 120
277,000 125
295,500 150
351,000 150
351,000 120
388,000 120
425,000 110
2,196,500
219,650
452,300
vised forecast
100 million
100 Rs.
4800 Rs.
12% p.a.
500,000
Cash PV of cash
Income Profit (CF)
flow flow
-500,000
490,000 -10,000
588,000 88,000
588,000 88,000
588,000 88,000
612,500 112,500
735,000 235,000
735,000 235,000
588,000 88,000
588,000 88,000
539,000 39,000
Price of the machine 25,000.00
Repairs and enhancements 3,000.00
Life in years 5
Current discount rate 10.00%
Terminal valule 1,000.00
Income statement
Yield to maturity
Yield-to-Maturity (YTM)
Settlement date 03 April 2017
Maturity date 31 March 2022
Rate 10%
Price 109
Redumption 100
Frequency 1
YTM 7.76%
Bond valuation - Coupon rate is higher than expected rate of return
(1+r)^n-1 0.4693280768
0.1175462461
3.9927100371
han expected rate of return Bond valuation - Coupon rate is lower than expec
100.00
8.60%
5
8.25%
30,000,000 30,000,000
18,000,000 18,000,000
12,000,000 12,000,000
0 400,000
12,000,000 11,600,000
3,000,000 2,900,000
9,000,000 8,700,000
1,000,000 600,000
9 15
90.00% 145.00%
Particulars All cash
Sales-Cash 1,200,000.00
Sales-Credit 0.00
Sales returns- etc. 0.00
Net sales 1,200,000.00
Depreciation 0.00
Salary paid 100,000.00
Salary due but not paid 0.00
Rent 15,000.00
Other operating expenses 485,000.00
- Total Operating expenses 600,000.00
Earnings Before Interest and Tax 600,000.00
- Interest 100,000.00
Earnings Before Tax 500,000.00
- Tax @ 40% 200,000.00
Earnings after tax 300,000.00
Cash 300,000.00
Few non-cash
expenses
700,000.00
500,000.00
0.00
1,200,000.00
100,000.00
50,000.00
50,000.00
15,000.00
385,000.00
600,000.00
600,000.00
100,000.00
500,000.00
200,000.00
300,000.00
-50,000.00
Balance Sheet of Bharti Airtel
Mar 16
------------------- in Rs
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 1,998.70
Total Reserves and Surplus 82,448.10
Total Shareholders Funds 84,446.80
CURRENT LIABILITIES
Short Term Borrowings 699.9
Trade Payables 7,058.80
Other Current Liabilities 19,360.40
Short Term Provisions 772.7
Total Current Liabilities 27,891.80
ASSETS
NON-CURRENT ASSETS
Tangible Assets 31,156.30
Intangible Assets 60,658.20
Capital Work-In-Progress 2,825.10
Intangible Assets Under Development 971.5
Fixed Assets 95,611.10
CURRENT ASSETS
Current Investments 0.8
Inventories 5.3
Trade Receivables 3,793.00
Cash And Cash Equivalents 52.1
Short Term Loans And Advances 6,842.90
OtherCurrentAssets 711.6
Total Current Assets 11,405.70
SHAREHOLDER'S FU
1,998.70 1,998.70 1,998.70 1,898.80 1.23%
76,274.20 76,274.20 64,729.30 52,247.40 50.91%
78,272.90 78,272.90 66,728.00 54,146.20 52.15%
HAREHOLDER'S FUNDS
1.58% 1.58% 2.03% 2.13%
60.24% 60.24% 65.61% 58.63%
61.82% 61.82% 67.63% 60.76%
EXPENSES
Purchase Of Stock-In Trade 51.6
Operating And Direct Expenses 15,074.70
Employee Benefit Expenses 1,869.30
Depreciation And Amortisation Expenses 9,543.10
Other Expenses 20,968.40
Operating Expenses 47,507.10
EBITDA 23,821.80
Operating profit 14,278.70
Mar 16 Mar-15
Per Share Ratios
Basic EPS (Rs.) 18.88 33.02
Book Value/Share (Rs.) 211.25 195.80
Dividend / Share(Rs.) 1.36 3.85
Profitability Ratios
PBIT Margin (%) 23.67 30.74
Net Profit Margin (%) 12.51 23.78
Return on Networth / Equity (%) 8.93 16.86
Return on Capital Employed (%) 5.62 12.76
Return on Assets (%) 4.66 10.44
Leverage Ratio
Total Debt/Equity (X) 0.50 0.26
Liquidity Ratios
Current Ratio (X) 0.41 0.64
Pay-out ratios
Dividend Payout Ratio (NP) (%) 7.2 11.65
Earnings Retention Ratio (%) 92.8 88.35
Valuation Ratios
Enterprise Value (Cr.) 182,616.77 177,321.49
EV/EBITDA (X) 7.67 7.20
MarketCap/Net Operating Revenue (X) 2.33 2.84
Price/BV (X) 1.66 2.01
P/E (X) 21.92 19.8
Idea cellular - so
EBITDA 12,007.70 10,125.75
M.Cap 327,079.34 375,181.22
Price (may not be necessary) 98.85 113.20
Book value 38.45 40.74
EPS 7.27 7.94
20.6
544.65 546.5 563.6 549.6 555.15 548.3 556.8 559.1
25.5 26 26 26
57
991.75 1053.8 1055.5 1123 1092.1 1112.7 1100.15 1122.3
403.95 403.75 402.3 403.95 400.95 403.4 401.25 402.9
21.35 22 22 22 22.25 23.35 21 23.2
67.75 64.4
512.2 511.85 510.05 512.9 510.35 514.9 518.45 516.2
Day-73 Day-74 Day-75 Day-76 Day-77 Day-78 Day-79 Day-80
218.9
Day-137 Day-138 Day-139 Day-140 Day-141 Day-142 Day-143 Day-144
16
200 day
return
47.93%
-62.16%
-87.78%
-37.60%
58.06%
88.44%
-60.29%
-82.00%
-3.89%
-79.71%
45.17%
-10.81%
-83.14%
-88.06%
-38.65%
-58.57%
122.25%
-41.90%
-61.68%
-92.57%
-61.62%
-19.90%
48.15%
-85.00%
-35.78%
27.26%
-100.00%
-30.33%
-83.20%
374.50%
35.00%
-92.67%
-86.49%
-19.30%