jean louis pe model without solution

7/23/2019 Jean Louis PE Model Without Solution

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FINANCIALS>>>>>>


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Company Jean Louis 2012A 2013A 2014A

Income Sheet ($ m) Historical

Net Sales 2905 3408 3959

Direct Costs 1698 1925 2228

Gross Proft 1207 1483 1730

Selling, General A!"in Costs 350 442 509

#t$er %&'ense( )*nco"e+ )2+ )1+ )11+

%*-DA 859 1042 1233

De'reciation 102 127 136

A"orti.ation 9 11 13

%*- 747 904 1084

*nterest %&'ense 44 60 64

*nterest *nco"e )1+ )1+ )1+

Preta& *nco"e )P-+ 704 845 1021

*nco"e -a&es 175 215 255

Net *nco"e 529 630 766

Dil/te! eig$te! Aerage S$ares )"illions+ 100

argins

Gross argin )e&cl/!ing DA+ 415 435 437

SGA %&'ense as o Net Sales 121 130 129

#t$er %&'ense( )*nco"e+ as o Net Sales 01 00 03

%*-DA argin 296 306 311

%*- argin 257 265 274

Net *nco"e argin 182 185 194

Grot$ ate Analsis

Net Sales Grot$ ate 173 162

%*-DA Grot$ ate 213 183

Net *nco"e Grot$ ate 190 217

%:ectie -a& ate 248 255 250


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2015% 2016% 2017% 2018% 2019%

Forecast

250 250 250 250 250


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2020% 2021%

250 250


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Company Jean Louis 2012A 2013A

Balance Sheet ($ m) Historical

Current Assets, Loans and Advances

Cas$ 28 30Acco/nts eceia;le, net 463 474

*nentor 327 350

#t$er C/rrent Assets 87 83

Total Current Assets 9! 9"#

Fie% Assets

PP%, net 852 950

ther Assets

*ntangi;les, net 47 62

Goo!ill 1672 1672

&otal Assets "'#! "*

Current Lia+ilities , -ro.isions

Acco/nts Paa;le 206 221

Accr/e!


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2014A 2015% 2016% 2017% 2018% 2019% 2020%

Forecast

29473

384

84

9#

1100

80

1672

"/*

279

177

82

!"/

101

875

9#

187

461

1660

"/*

0


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2021%


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Cash Flo2 Statement Historical

Operating ActivitiesNet *nco"e

De'reciation

A"orti.ation

C$ange in or>ing Ca'ital

C$ange in Assets


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2014A 2015% 2016% 2017% 2018%

Forecast


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2019% 2020% 2021%


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3e.enues ($)

Sales 4olume (5nits) *0 **0

Se6mental 3e.enues (3s7) *0 **0

Soaps 600,000,000 756,000,000

growth rate

air Co!our 825,000,000 951,750,000

growth rate

"etergents 660,000,000 761,600,000

growth rate

&otal 3e.enue 8/!88 8'98"!8


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*A *"A *'A *!0

*A *"A *'A *!0

960,000,000 1,225,500,000 1,518,750,000

1,069,937,500 1,207,868,000 1,352,705,000

875,000,000 974,632,000 1,087,500,000

89'89"#8! "8'/88 "89!/89!!8


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*0 *#0 */0 *90

*0 *#0 */0 *90


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0 *0

0 *0


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3a2 aterials .olume re1uirement (ml) * 6ms soap ! ml hair colour

#$i% 10&5 25&5

Spe$ia!ity $hemi$a!s 1&0 1&2

'r%inary $hemi$a!s 0&5 0&8

3a2 aterials prices *0 **0

&otal sales

3a2 aterial Cost ($) *0 **0

#$i% 1,123,595,550 1,373,756,175

( o) sa!es

Spe$ia!ity $hemi$a!s 32,267,700 42,343,763

( o) sa!es

'r%inary $hemi$a!s 8,590,950 13,597,875

( o) sa!es

*er)umes 33,585,480 41,076,872

( o) sa!es

&otal ra2 material cost ($) *8*9/8"98/ *8'#8##'8/'

&otal pac:a6in6 cost ($) '/8'!8 !#89!8

( o) sa!es

&otal ;irect Costs *8'8'/98/ *8!#8/98/'

Salary , +onus cost ($) !*8/'8 !#8!"8

( o) sa!es

*ower Cost 2,000,000 2,400,000

( o) sa!es


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A%.ertisement cost ($) 156,000,000 177,701,250

( o) sa!es

Commission ($) 52,275,000 66,733,750

( o) sa!es

+nsuran$e premium -. 2,000,000 ///

( o) sa!es

Sellin68


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! ml %eter6ent

50&5

2&5

1&5

*A *"A *'A

*A *"A *'A

1,516,132,099 1,707,647,148 1,973,195,100

50,481,051 59,437,578 68,890,932

16,242,259 19,214,520 24,895,206

48,483,780 59,032,659 71,812,080

*8"*8""98*/9 *8/'!8""*89! 8*"/8#9"8"*/

8#/!8/! /8'"8/'* /98#98*

*89/8*'8#! *89!8"#!8#'! 8/8'#8'*/

#8"89 /!88! 9'8'#'8/

3,000,000 3,500,000 4,000,000


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195,370,313 270,600,000 304,421,625

77,623,438 80,200,000 103,973,875

2,000,000 2,000,000 2,000,000

"!8"!'8#* ''*898! !/8/#8"


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*!0 *0 *#0

= = =

*!0 *0 *#0


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*/0 *90 0

= = =

*/0 *90 0


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*0

=

*0


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or:in6 Capital Sche%ule Historical

Net Sales

Cost o Sales )e&cl/!ing DA+

Working Capital Balances

Acco/nts eceia;le, net

*nentor

#t$er C/rrent Assets

-otal Non Cas$ C/rrent Assets

Acco/nts Paa;le

Accr/e!


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2014A 2015% 2016% 2017% 2018% 2019% 2020%

Forecast


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2021%

N/";er o !as ass/"'tion 365


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;epreciation Sche%ule Historical

Net Sales

Ca'ital %&'en!it/resCapital Expenditures as % of Net Sales

eginning Net PP%

Ca'ital %&'en!it/res

)De'reciation %&'ense+

)Asset Sales +

%n!ing Net PP%

**+ (rea-.up or '/0) A"o/nt e"aining /se/l lie


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3epreciation (uildin% Improvements)

2achinery 4 +5uipments

@se/l s

De'reciation %&'ense )e&isting+

50

Capex @se/l


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2015% 2016% 2017% 2018% 2019% 2020% 2021%

Forecast

Pro'ortion o Assets

Straig$t


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D*B(0


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;epreciation Sche%ule Historical

Net Sales

A!!itions to *ntangi;lesAdditions to Intangibles as % of Net Sales

eginning Net *ntangi;les

A!!itions to *ntangi;les

)A"orti.ation %&'ense+

)*ntangi;le Sales an! rite o:s+

%n!ing Net *ntangi;les

%&isting Net *ntangi;les, net

@se/l


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2015% 2016% 2017% 2018% 2019% 2020% 2021%

Forecast


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Co"'an ean


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2014A 2015% 2016% 2017% 2018%

Forecast


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2019% 2020% 2021%


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Co"'an ean


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2015% 2016% 2017% 2018% 2019% 2020% 2021%

Forecast


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Corporate Bridge Academy

DCF Valuation

(All data is Millions ($) except per share information, A - Actual, E - Estimated)

Particular

Discounted Cash FlowsAll numbers are in Rs. Million except per share data

Free Cash Flow Calculations

Net Income

Add:Depreciation

Add: Interest x (1-tax rate)

han!es in "or#in! apital

ess:apex

Free Cash Flow to the Firm(FCFF)

Terminal Value

WACC Inputs

Cost o !"uity # Cost o De$t

%is& Free %ate

Beta

!"uity %is& Premium

Cost o e"uity

Terminal 'rowth %ate

ar&et Value o !"uity

urrent %toc# &rice

urrent shares outstandin!

'ptionsarrants on*erts

+ull con*erted shares

+ull con*erted euit *alue

Calculating Boo& alue o De$t

De.t

%hort-/erm De.t

(Bluefor actual data, Blac&for calculations, 'reenfor in#a!e)


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%trai!ht on!-/erm De.t

on*erti.le De.t (out of mone)

0alue of De.t

Calculating De$t to !"uity ratios

&roporiton of Euit in the apital %trucuture&roporiton of De.t in the apital %trucuture

De.t to euit ratio

WACC Calculations

is# +ree rate

Mar#et ris# premium

e*ered .eta of compan

ost of euit&re-tax cost of de.t

/ax rate

After tax cost of de.t

A

Ad2ust for illiuiditsmall compan

Ad2usted A

Free cash low to irm o e*plicit period +,-.! # to +,+-!

ash +lo"s

N&0 of explicit period

Terminal Value !*it !BITDA ultiple

3x

N&0 of E4I/DA terminal *alue

DCF Valuation /ummary

!nterprise alue

D+ calculation as of

N&0 of explicit period

N&0 of E4I/DA terminal *alue

Enterprise 0alue

Net De.t


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Euit *alue

%hare &rice


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5613E 5617E 5618E


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5619E 561E 5656E 5651E

4ac# to Index
http://var/www/apps/conversion/tmp/scratch_7/http://var/www/apps/conversion/tmp/scratch_7/


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eta Calculation

Ta1 rate 3;+

*eer A 1 20 034

*eer 092 31 037

*eer C 14 30 063

Ag eta

eta /nleerage!

eta ) Fean lo/is+

Levera%edeta


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Company Jean Louis

Shareholdin% *attern

+1istin% Shareholders shares

Pro"oters

=e# shareholders

Bent/re =ir" *

Ac5uisition Terms

S$ares to ;e Ac?/ire! Pri"ar Secon!ar

N/";er o S$ares

Price 'er S$are

Cost o S$ares

Co""on S$ares #/tstan!ing )'ost+

Ac?/isition Sta>e

Ac?/isition Price

-ransaction =ees

Ass/"e!


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> Shareholdin% > Shareholdin% Amount :aised +5uity ?aluation

(*re) (*ost) (*ost)

0


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C :esearch 4 Analytics

I:: Analysis As o &;&/;'/0

Summary Assumptions

%ntr A"o/nt

C/rrent ar>et Price

Pre"i/" to ar>et

*nest"ent Price 'er S$are

S$ares P/rc$ase! )000+

-otal S$ares #/tstan!ing )Post+

o Ne S$ares *ss/e!

Investment Return Calculation

'/6+ +IT3A Initial Investment Incremental @nancin%

50&

60&

70&

'/6+ Sales

10&

11&

12&

NoteH Ass/"es no ta& lea>age


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:eturn ater 8 ear I::


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?aluation )%?/it+

%B ( C/sto"er

Note: Peer companies are those public companies with similar nature of business of target rm .

IndustryAvera%e

jean louis pe model without solution

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