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7/30/2019 Entrepreneurship Fin Plan Excel Template
1/13
Apr May Jun Jul Aug
Sales Number of units - 35 50 50 200
Price per unit 10,000 10,000 10,000 10,000 10,000
Revenue - 350,000 500,000 500,000 2,000,000
Variable Costs Material Cost per unit 5,000 5,000 5,000 5,000 5,000
(DIRECT) Courier cost per unit 25 25 25 25 25
Packing cost per unit 25 25 25 25 25
Variable Costs - 176,750 252,500 252,500 1,010,000
Gross Profit - 173,250 247,500 247,500 990,000
Fixed Costs Salary 125,000 125,000 125,000 125,000 125,000
(INDIRECT) Marketing 25,000 25,000 25,000 25,000 25,000
Rent 10,000 10,000 10,000 10,000 10,000
Telephone 5,000 5,000 5,000 5,000 5,000
Electricity 2,500 2,500 2,500 2,500 2,500Website maintenance - 2,000 2,000 2,000 2,000
Fixed Costs 167,500 169,500 169,500 169,500 169,500
PBIT Operating Profit (167,500) 3,750 78,000 78,000 820,500
INT & TAXES Interest 15,000
Depreciation - - - - -
PBT Profit before tax (182,500) 3,750 78,000 78,000 820,500
Tax
Profits PAT Profit After Tax (182,500) 3,750 78,000 78,000 820,500
Starting Cash 3,500,000 3,317,500 3,321,250 3,399,250 3,477,250
Equity 2,000,000 - - - -
Debt 1,500,000 - - - -
Cash in Hand 3,317,500 3,321,250 3,399,250 3,477,250 4,297,750
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Sep Oct Nov Dec Jan Feb Mar Year 1
200 200 300 300 300 400 400 2,435
10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000
2,000,000 2,000,000 3,000,000 3,000,000 3,000,000 4,000,000 4,000,000 24,350,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
25 25 25 25 25 25 25 25
25 25 25 25 25 25 25 25
1,010,000 1,010,000 1,515,000 1,515,000 1,515,000 2,020,000 2,020,000 12,296,750
990,000 990,000 1,485,000 1,485,000 1,485,000 1,980,000 1,980,000 12,053,250
125,000 125,000 125,000 125,000 125,000 125,000 125,000 1,500,000
25,000 25,000 25,000 25,000 25,000 25,000 25,000 300,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000
2,500 2,500 2,500 2,500 2,500 2,500 2,500 30,0002,000 2,000 2,000 2,000 2,000 2,000 2,000 22,000
169,500 169,500 169,500 169,500 169,500 169,500 169,500 2,032,000
820,500 820,500 1,315,500 1,315,500 1,315,500 1,810,500 1,810,500 10,021,250
180,000
- - - - - - - 632,500
820,500 820,500 1,315,500 1,315,500 1,315,500 1,810,500 1,810,500 9,208,750
3,130,975
820,500 820,500 1,315,500 1,315,500 1,315,500 1,810,500 1,810,500 6,077,775
4,297,750 5,118,250 5,938,750 7,254,250 8,569,750 9,885,250 11,695,750 13,506,250
- - - - - - - -
- - - - - - - -
5,118,250 5,938,750 7,254,250 8,569,750 9,885,250 11,695,750 13,506,250 19,584,025
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Year 2 Year 3 Year 4 Year 5
10% 10% 10% 10% growth %age
2,679 2,946 3,241 3,565
9,000 9,000 9,000 9,000
24,106,500 26,517,150 29,168,865 32,085,752
5,000 5,000 5,000 5,000
25 25 25 25
25 25 25 25
13,526,425 14,879,068 16,366,974 18,003,672
10,580,075 11,638,083 12,801,891 14,082,080
1,500,000 1,500,000 1,500,000 1,500,000
300,000 300,000 300,000 300,000
120,000 120,000 120,000 120,000
60,000 60,000 60,000 60,000
30,000 30,000 30,000 30,00022,000 22,000 22,000 22,000
2,032,000 2,032,000 2,032,000 2,032,000
8,548,075 9,606,083 10,769,891 12,050,080
180,000 180,000 180,000 180,000
632,500 632,500 632,500 632,500
7,735,575 8,793,583 9,957,391 11,237,580
2,630,096 2,989,818 3,385,513 3,820,777
5,105,480 5,803,764 6,571,878 7,416,803
19,584,025 24,689,505 30,493,269 37,065,147
- - - -
- - - -
24,689,505 30,493,269 37,065,147 44,481,950
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YR 1 YR 2 YR 3 YR 4
Loan at the beginning of the year 1,500,000 1,500,000 1,500,000 1,500,000
Added in the year
Paid back in the year
Total Loan amount at end of year 1,500,000 1,500,000 1,500,000 1,500,000
Rate of interest 12%
Interest for the year 180,000 180,000 180,000 180,000
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YR 5
1,500,000
1,500,000
180,000
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(Rs.) Year 1 Year 2 Year 3 Year 4 Year 5
Laptop 100,000
Chair 12,500
Furnishing 300,000
Factory 2,500,000
Office Deposit 200,000
Website development 50,000Capital expenditure schedule 3,162,500 - - - -
Depreciation method Straight line
Number of years 5
Depreciation in the year 632,500 632,500 632,500 632,500 632,500
Assets and Depreciation
Assets - opening balance 3,162,500 2,530,000 1,897,500 1,265,000 632,500
Depreciation in the year 632,500 632,500 632,500 632,500 632,500
Assets- Closing Balance 2,530,000 1,897,500 1,265,000 632,500 -
Accumulated Depreciation
Opening balance - 632,500 1,265,000 1,897,500 2,530,000
During the year 632,500 632,500 632,500 632,500 632,500
Closing balance 632,500 1,265,000 1,897,500 2,530,000 3,162,500
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Cashflow Statement (Rs. Lakhs) Year 1 Year 2 Year 3
Cashflow from Operating Activities
PBT 9,208,750 7,735,575 8,793,583
Less: Taxes (3,130,975) (2,630,096) (2,989,818)
Add : Interest Payment 180,000 180,000 180,000
Add: Depreciation 632,500 632,500 632,500Operating profit before working capital changes 6,890,275 5,917,980 6,616,264
Working capital changes
Less: Increase in Inventory 0 - -
Less: Increase in Accounts Receivables 0 - -
Less: Increase in loans & advances 0 - -
Add: Increase in Provision 0 - -
Add: Increase in Advances from customers 0 - -
Add: Increase in Commission payable 0 - -
Add: Increase in Insurance premium payable 0 - -
Add: Increase in Accounts payable 0 - -
Cashflow from Operations - - -
Less: Capital expediture (including WIP) (3,162,500) 0 0
Less: Increase in Investments 0 - -
Cashflow from Investing Activities (3,162,500) 0 0
Less: Interest Expenses (180,000) (180,000) (180,000)
Less: Net Repayment of Debt
Cashflow from Financing Activities (180,000) (180,000) (180,000)
Net cashflow 3,547,775 5,737,980 6,436,264
Opening Cash Balance 3,500,000 7,047,775 12,785,755
Net cashflow during the year 3,547,775 5,737,980 6,436,264
Closing Cash balance 7,047,775 12,785,755 19,222,019
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Year 4 Year 5
9,957,391 11,237,580
(3,385,513) (3,820,777)
180,000 180,000
632,500 632,5007,384,378 8,229,303
- -
- -
- -
- -
- -
- -
- -
- -
- -
0 0
- -
0 0
(180,000) (180,000)
(180,000) (180,000)
7,204,378 8,049,303
19,222,019 26,426,397
7,204,378 8,049,303
26,426,397 34,475,700
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Sources of Funds Year 1 Year 2 Year 3 Year 4
Paid up Capital 2,000,000 2,000,000 2,000,000 2,000,000
Equity infusion during the year - - - -
Profit for the year 6,077,775 5,105,480 5,803,764 6,571,878
Total shareholders equity 8,077,775 7,105,480 7,803,764 8,571,878
Loan taken 1,500,000 1,500,000 1,500,000 1,500,000
Total sources of Funds 9,577,775 8,605,480 9,303,764 10,071,878
Usage of Funds
Fixed Assets beginning of year 3,162,500 2,530,000 1,897,500 1,265,000
Less :Depreciation 632,500 632,500 632,500 632,500
Net Fixed Assets 2,530,000 1,897,500 1,265,000 632,500
Inventory - - - -
Account Receivables/ Debtors - - - -
Loans & Advances given - - - -Current Assets (Excluding Cash) - - - -
Accounts payable/ Creditors - 0 0 0
Advances from customers - 0 0 0
Provision for income tax - - - -
Insurance premium payable - 0 0 0
Current Liabilities & Provisions - - - -
Net Current Assets (Working Capit - - - -
Cash & Bank Balances 7,047,775 12,785,755 19,222,019 26,426,397
Total Usage of Funds 9,577,775 14,683,255 20,487,019 27,058,897
- (6,077,775) (11,183,255) (16,987,019)
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Year 5
2,000,000
-
7,416,803
9,416,803
1,500,000
10,916,803
632,500
632,500
-
-
-
- -
0
0
-
0
-
-
34,475,700
34,475,700
(23,558,897)
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Year 1 2 3 4
DCF Valuation (Rs. Lakhs) Year 1 Year 2 Year 3 Year 4
EBIT 6,858,750 8,548,075 9,606,083 10,769,891
Tax Rate (t) 34%
EBIT*(1-t) 4,527,461 5,642,584 6,340,975 7,109,205
Add: Depriciation 2,912,500 - - -
Less: Change in working capital - - - -Less: Capital Expenditure (2,912,500) - - -
Free Cashflow to the Firm (FCFF) 4,527,461 5,642,584 6,340,975 7,109,205
Risk free rate 7.5%
Beta 1.3
Expected return from market 15.0%
Cost of equity 17.3%
Cost of debt 12.0%
Post tax cost of debt 7.9%
Target debt: capital ratio 0.4
WACC 13.3%
Terminal growth rate 5.0%
Exit Multiples - EV/EBITDA 3
Terminal Value based on
Terminal growth rate
Present value of
FCFF 3,997,689 4,399,332 4,365,350 4,321,538
Terminal Value
Enterprise value 75,678,942
Sensitivity Analysis - Equity Value
75,678,942 3.0% 3.5%
10.0% 96,011,275 101,981,456
11.0% 83,474,410 87,840,840
12.0% 73,739,514 77,043,484
13.0% 65,965,348 68,532,977
14.0% 59,616,614 61,655,384
WACC
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5
Year 5
12,050,080
7,954,258
-
--
7,954,258
101,212,172
4,269,444
54,325,588
4.0% 4.5% 5.0%
108,946,668 117,178,282 127,056,218
92,831,046 98,588,975 105,306,560
80,760,451 84,973,013 89,787,369
71,385,898 74,574,457 78,161,586
63,898,031 66,376,746 69,130,874
Terminal Growth rate
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Terminal growth rate