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    Ocean Carriers Excel

    Uploaded by

    Toshalina Nayak
    The document presents cash flow projections for a 25-year and 15-year period for an asset purchased for $39 million under two scenarios: with and without tax. In the 25-year scenario with tax, the NPV is $5.9 million and without tax the NPV is $6.9 million. In the 15-year scenario, projections are provided for years 2001-2017 with tax and the NPV is $5 million without tax.

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    Ocean Carriers Excel

    Uploaded by

    Toshalina Nayak
    19K views14 pages
    The document presents cash flow projections for a 25-year and 15-year period for an asset purchased for $39 million under two scenarios: with and without tax. In the 25-year scenario with tax, the NPV is $5.9 million and without tax the NPV is $6.9 million. In the 15-year scenario, projections are provided for years 2001-2017 with tax and the NPV is $5 million without tax.

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    The document presents cash flow projections for a 25-year and 15-year period for an asset purchased for $39 million under two scenarios: with and without tax. In the 25-year scenario with tax, the NPV is $5.9 million and without tax the NPV is $6.9 million. In the 15-year scenario, projections are provided for years 2001-2017 with tax and the NPV is $5 million without tax.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    19K views14 pages

    Ocean Carriers Excel

    Uploaded by

    Toshalina Nayak
    The document presents cash flow projections for a 25-year and 15-year period for an asset purchased for $39 million under two scenarios: with and without tax. In the 25-year scenario with tax, the NPV is $5.9 million and without tax the NPV is $6.9 million. In the 15-year scenario, projections are provided for years 2001-2017 with tax and the NPV is $5 million without tax.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 14

    SCENARIO: 25 YEARS USE WITH TAX

    Purchase Price
    39000000
    Exptected Rate of Inflation
    3.00%
    Tax Rate
    35.00%
    Discount Rate
    9.00%
    Rate of Increase of Operating Costs
    4.00%

    Average Daily Hire Rate


    No. of days in year
    Maintenance days
    Days on which revenue is earned
    Annual Revenue

    2001

    2002

    2003
    2004
    20000
    20200
    365
    366
    8
    8
    357
    358
    7140000 7231600

    Operating Costs per day


    Annual Operating Costs

    4000
    4160
    1460000 1522560

    Survey Capital Expenditure


    Depreciation on Survey Capital Expenditure

    Purchase Cost
    Depreciation on Purchase Cost

    -3900000 -3900000

    Operating Profit
    Tax @ 35%
    PAT
    PAT (No Tax)
    Change in Net Working Capital
    Cash flow
    NPV

    500000
    -3900000 -4400000
    ###

    ###
    1560000 1560000

    4120000
    1442000
    2678000
    4120000

    4149040
    1452164
    2696876
    4149040

    15000

    15450

    ### 4241426

    SCENARIO: 25 YEARS WITHOUT TAX


    2001
    Average Daily Hire Rate
    No. of days in year
    Maintenance days
    Days on which revenue is earned
    Annual Revenue

    2002

    2003
    2004
    20000
    20200
    365
    366
    8
    8
    357
    358
    7140000 7231600

    Operating Costs per day


    Annual Operating Costs

    4000
    4160
    1460000 1522560

    Survey Capital Expenditure


    Depreciation on Survey Capital Expenditure

    Purchase Cost
    Depreciation on Purchase Cost

    -3900000 -3900000

    Operating Profit
    PAT (No Tax)
    Change in Net Working Capital
    Cash flow
    NPV

    ###
    1560000 1560000

    4120000 4149040
    4120000 4149040
    500000
    -3900000 -4400000
    ###

    15000

    15450

    ### 5693590

    2005
    2006
    2007
    2008
    2009
    2010
    2011
    2012
    2013
    20400
    18714
    17283
    17481
    17682
    17886
    18092
    17428
    17628
    365
    365
    365
    366
    365
    365
    365
    366
    365
    8
    8
    8
    12
    12
    12
    12
    12
    16
    357
    357
    357
    354
    353
    353
    353
    354
    349
    7282800 6680898 6170031 6188274 6241746 6313758 6386476 6169512 6152172
    4326.4 4499.46 4679.43 4866.61 5061.28 5263.73 5474.28 5693.25 5920.98
    1579136
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    300000
    60000

    60000

    60000

    60000

    350000
    60000

    70000

    1560000 1560000 1560000 1560000 1560000 1560000 1560000 1560000 1560000

    4143664
    ###
    ###
    4143664

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###

    15913.5 16390.91 16882.63 17389.11 17910.78 18448.11 19001.55 19571.6 20158.75


    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    2005
    2006
    2007
    2008
    2009
    2010
    2011
    2012
    2013
    20400
    18714
    17283
    17481
    17682
    17886
    18092
    17428
    17628
    365
    365
    365
    366
    365
    365
    365
    366
    365
    8
    8
    8
    12
    12
    12
    12
    12
    16
    357
    357
    357
    354
    353
    353
    353
    354
    349
    7282800 6680898 6170031 6188274 6241746 6313758 6386476 6169512 6152172

    4326.4 4499.46 4679.43 4866.61 5061.28 5263.73 5474.28 5693.25 5920.98


    1579136
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    300000
    60000

    60000

    60000

    60000

    350000
    60000

    70000

    1560000 1560000 1560000 1560000 1560000 1560000 1560000 1560000 1560000

    4143664
    4143664

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    15913.5 16390.91 16882.63 17389.11 17910.78 18448.11 19001.55 19571.6 20158.75


    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    2014
    2015
    2016
    2017
    2018
    2019
    2020
    2021
    2022
    17831
    18036
    18243
    14762
    14932
    15104
    15278
    15454
    14654
    365
    365
    366
    365
    365
    365
    366
    365
    365
    16
    16
    16
    16
    16
    16
    16
    16
    16
    349
    349
    350
    349
    349
    349
    350
    349
    349
    6223019 6294564 6385050 5151938 5211268 5271296 5347300 5393446 5114246
    6157.82 6404.13 6660.29 6926.71 7203.77 7491.92
    ###
    ###
    ###
    ###
    ###
    ###

    70000

    70000

    70000

    750000
    70000

    150000

    150000

    7791.6 8103.27
    ###
    ###

    150000

    150000

    8427.4
    ###
    850000
    150000

    1560000 1560000 1560000 1560000 1560000 1560000 1560000 1560000 1560000

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###

    ###
    ###
    ###
    ###
    ### 537383.2
    ###
    ###

    ###
    ###
    ###
    ###

    ### 328246.2
    ###
    ###
    ###
    ###
    ### 328246.2

    20763.51 21386.41 22028.01 22688.85 23369.51 24070.6 24792.71 25536.5 26302.59


    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    2014
    2015
    2016
    2017
    2018
    2019
    2020
    2021
    2022
    17831
    18036
    18243
    14762
    14932
    15104
    15278
    15454
    14654
    365
    365
    366
    365
    365
    365
    366
    365
    365
    16
    16
    16
    16
    16
    16
    16
    16
    16
    349
    349
    350
    349
    349
    349
    350
    349
    349
    6223019 6294564 6385050 5151938 5211268 5271296 5347300 5393446 5114246

    6157.82 6404.13 6660.29 6926.71 7203.77 7491.92


    ###
    ###
    ###
    ###
    ###
    ###

    70000

    70000

    70000

    750000
    70000

    150000

    150000

    7791.6 8103.27
    ###
    ###

    150000

    150000

    8427.4
    ###
    850000
    150000

    1560000 1560000 1560000 1560000 1560000 1560000 1560000 1560000 1560000

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ### 328246.2
    ### 328246.2

    20763.51 21386.41 22028.01 22688.85 23369.51 24070.6 24792.71 25536.5 26302.59


    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    2023
    2024
    2025
    2026
    2027
    14823
    14993
    15166
    15341
    13448
    365
    366
    365
    365
    365
    16
    16
    16
    16
    16
    349
    350
    349
    349
    349
    5173227 5247550 5292934 5354009 4693352
    8764.49 9115.07 9479.68 9858.86 10253.22
    ###
    ###
    ###
    ###
    ###

    170000

    170000

    170000

    170000

    170000

    1560000 1560000 1560000 1560000 1560000

    ###
    ###
    ### 25524.31
    85465.52 63501.74 35998.4 8933.51
    ###
    ### 66854.17 16590.8
    ###
    ###
    ### 25524.31

    ###
    ###
    ###
    ###

    27091.67 27904.42 28741.55 29603.8 30491.91


    ###

    ###

    ### 1716987

    ###

    2023
    2024
    2025
    2026
    2027
    14823
    14993
    15166
    15341
    13448
    365
    366
    365
    365
    365
    16
    16
    16
    16
    16
    349
    350
    349
    349
    349
    5173227 5247550 5292934 5354009 4693352

    8764.49 9115.07 9479.68 9858.86 10253.22


    ###
    ###
    ###
    ###
    ###

    170000

    170000

    170000

    170000

    170000

    1560000 1560000 1560000 1560000 1560000

    ###
    ###

    ###
    ###

    ### 25524.31
    ### 25524.31

    ###
    ###

    27091.67 27904.42 28741.55 29603.8 30491.91


    ###

    ###

    ###

    ###

    ###

    SCENARIO: 15 YEARS USE WITH TAX


    2001
    revenues
    operating cost

    PURCHASE
    CAPITAL EXP
    EBITDA
    DEPN OF PURCHASE
    DEPN OF CAPITAL EXP
    EBIT

    -3900000
    0

    TAX
    PAT
    NET SALVAGE VALUE
    INV IN WORKING CAPITAL

    0
    0

    FCF

    -3900000

    npv

    Exptected Rate of Inflation


    Rate of Increase of Operating Costs
    Purchase Price

    3.00%
    4.00%
    ###

    Tax Rate
    Discount Rate

    SCENARIO: 15 YEARS USE WITHOUT TA


    2001
    revenues
    operating cost

    PURCHASE
    CAPITAL EXP
    EBITDA
    DEPN
    DEPN OF CAPITAL EXP
    EBIT
    PAT
    NET SALVAGE VALUE
    INV IN WORKING CAPITAL

    -3900000

    FCF

    -3900000
    Rs.200,319.06

    ARS USE WITH TAX


    2002

    2003
    2004
    2005
    2006
    2007
    2008
    2009
    7140000 7211400 7282800 6680898 6170031 6170793 6241746
    ###

    -3900000

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    -300000
    0 5680000 5693000 5703664
    ###
    ###
    ###
    ###
    2266667 2266667 2266667 2266667 2266667 2266667 2266667
    60000
    60000
    0 3413333 3426333 3436997
    ###
    ###
    ###
    ###
    0
    0

    ###
    ###

    -500000

    -15000

    -4400000

    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    -15450 -15913.5

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    Rs.5,932,339.87

    35.00%
    9.00%

    ARS USE WITHOUT TAX


    2002

    2003
    2004
    2005
    2006
    2007
    2008
    2009
    7140000 7211400 7282800 6680898 6170031 6170793 6241746
    ###

    -3900000

    ###

    ###

    ###

    ###

    ###

    ###

    ###
    -300000
    5680000 5693000 5703664
    ###
    ###
    ###
    ###
    2266667 2266667 2266667 2266667 2266667 2266667 2266667
    60000
    60000
    3413333 3426333 3436997
    ###
    ###
    ###
    ###
    3413333 3426333 3436997

    -500000

    -15000

    -15450 -15913.5

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    -4400000

    ### 5677550

    ###

    ###

    ###

    ###

    ###

    2010
    2011
    2012
    2013
    2014
    2015
    2016
    2017
    6313758 6386476 6152084 6152172 6223019 6294564 6366807 5151938
    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    -350000
    -750000
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    2266667 2266667 2266667 2266667 2266667 2266667 2266667 2266667
    60000
    60000
    60000
    70000
    70000
    70000
    70000
    70000
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###
    ###

    ###

    ### -19571.6

    ###

    ###

    ###

    ###
    ###
    5000000
    ###
    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###
    ###

    ###

    2010
    2011
    2012
    2013
    2014
    2015
    2016
    2017
    6313758 6386476 6152084 6152172 6223019 6294564 6366807 5151938
    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    -350000
    -750000
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    2266667 2266667 2266667 2266667 2266667 2266667 2266667 2266667
    60000
    60000
    60000
    70000
    70000
    70000
    70000
    70000
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    ###
    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ### -19571.6

    ###

    ###

    ###

    ###

    ###
    3250000
    ###
    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

    ###

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