Estimation of Free Cash Flow to Equity (Using

2014-15

Net Income 347.83

153.33

Less Capital Expenditure 405.17

Less Change in non cash working capital 16.74

Add New debt issues 95.20

Less debt repayment

Free Cash Flow to Equity 207.93

Add Depreciation and Amortisation and other non cash charges

Estimation of Free Cash Flow to Equity (Using

2013-14

261.63

131.65

257.99

Estimation of Free Cash Flow to Firm (Using Income Statement as an input)

2010-11

Net Income 194.58

107.25Add Interest (1-tax rate)

30.54

Less Capital Expenditure (76.67)

Less Change in non cash working capital (88.27)

Free Cash Flow to Firm 167.43

Add Depreciation and Amortisation and other non cash charges

Estimation of Free Cash Flow to Firm (Using Income Statement as an input)

2011-12 2012-13 2013-14

249.07

117.53

37.1

(181.69)

225.83

447.84 224.69

Sale 100000Expenses 60,000EBIDTA 40,000Dep 10,000EBIT 30,000Interest 5000EBT 25,000Tax @ 40 % 10000Net income 15,000

Net income 15,000Add depreciation 10,000Add Interest(1-t) 3,000After tax operating cash flows 28,000

EBIT(1-T) 18,000add dep 10,000After tax operating cash flows 28,000

Estimation of Free Cash Flow to Firm (Using Cash flow statement as an input)

Cash from operationsAdd interest (1-tax rate)

Less capital expenditure

Free cash flow to Firm

Estimation of Free Cash Flow to Firm (Using Cash flow statement as an input)

2010-11 2011-12 2012-13 2013-14

Estimation of Free Cash Flow to Equity (Using Cash flow statement as an input)

2010-11

Cash from operationsLess capital expenditure

Add debt issue

Less Debt repayment

Free cash flow To Equity

Estimation of Free Cash Flow to Equity (Using Cash flow statement as an input)

2011-12 2012-13 2013-14