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    Bus Project

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    nikhilb
    The document presents financial projections for a 4 year period for operating a bus service using a fleet of 1 bus, including income statements, balance sheets, cash flow statements and assumptions around revenues, costs, fares, fuel and maintenance costs. It shows the bus service generating profits each year of operation. Debt is used to finance 75% of the capital costs, with the debt being repaid in equal annual installments over the 4 year period.

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    Bus Project

    Uploaded by

    nikhilb
    117 views3 pages
    The document presents financial projections for a 4 year period for operating a bus service using a fleet of 1 bus, including income statements, balance sheets, cash flow statements and assumptions around revenues, costs, fares, fuel and maintenance costs. It shows the bus service generating profits each year of operation. Debt is used to finance 75% of the capital costs, with the debt being repaid in equal annual installments over the 4 year period.

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    The document presents financial projections for a 4 year period for operating a bus service using a fleet of 1 bus, including income statements, balance sheets, cash flow statements and assumptions around revenues, costs, fares, fuel and maintenance costs. It shows the bus service generating profits each year of operation. Debt is used to finance 75% of the capital costs, with the debt being repaid in equal annual installments over the 4 year period.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    117 views3 pages

    Bus Project

    Uploaded by

    nikhilb
    The document presents financial projections for a 4 year period for operating a bus service using a fleet of 1 bus, including income statements, balance sheets, cash flow statements and assumptions around revenues, costs, fares, fuel and maintenance costs. It shows the bus service generating profits each year of operation. Debt is used to finance 75% of the capital costs, with the debt being repaid in equal annual installments over the 4 year period.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Debt is to

    be repaid in
    4 equal
    Assumptions - Bus Assumptions - Financing annual Assumptions - General
    installments
    at the end
    Cost of Bus 7,500,000 Debt 75% Taxevery
    of Rate 33%
    Maintenance / year 10% Equity 25% year
    Escalation Rate - Maintenan 15% Interest on Debt 15% Interest Income 5%
    Life of Bus (years) 4 Tenure of loan (years) 4 Diesel rate (Rs./Lit) 60
    Deprecation Rate 25% SLM Cost of Equity 20% Diesel Price escalation 15%
    Inflation 10%
    Assumptions - Operating Revenues Assumptions - Operating Costs Assumptions - Operating General

    Seating Capacity 35 Fuel Efficiency ( Km / L ) 5 Route Mumbai - Pune


    Load Factor 50% Driver Cost (Rs./ Trip) 500 Distance (Kms) 155
    Tariff (Rs./Ticket) 360.00 Miscellaneous (Rs. / Trip) 500 Estimated Time Hours/Trip 3
    Escalation Rate - Tariff 10% Toll Amount (Rs. / Trip) 500 Trips / Day 4

    Income Statement
    Year - 0 Year - 1 Year - 2 Year - 3 Year - 4
    Flag 0 1 2 3 4
    Revenue 9,198,000 10,117,800 11,129,580 12,242,538
    Other Income - 121,342 137,130 149,966 should be added to PBT
    Fuel Costs 2,715,600 3,122,940 3,591,381 4,130,088
    Maintenance Expenses 750,000 862,500 991,875 1,140,656
    Driver Costs 730,000 803,000 883,300 971,630
    Miscellaneous Costs 730,000 803,000 883,300 971,630
    Toll Amount 730,000 803,000 883,300 971,630
    Cost of Revenues 5,655,600 6,394,440 7,233,156 8,185,634
    Gross Pofit / (EBITDA) 3,542,400 3,723,360 3,896,424 4,056,904
    Depreciation 1,875,000 1,875,000 1,875,000 1,875,000
    Interest Expense 843,750 674,776 480,456 256,988
    Profit Before Tax 823,650 1,294,926 1,678,098 2,074,882
    Income Taxes 271,805 427,326 553,772 684,711
    Profit After Tax 551,846 867,601 1,124,326 1,390,171

    Balance Sheet
    Year - 0 Year - 1 Year - 2 Year - 3 Year - 4 Debt Schedule
    Assets Year - 0 Year - 1 Year - 2 Year - 3 Year - 4
    Cash - 1,300,353 2,747,487 4,257,026 5,808,942 BOP - Debt 0 5,625,000 4,498,507 3,203,041 1,713,254
    PPE, Gross 7,500,000 7,500,000 7,500,000 7,500,000 7,500,000 Int Expense 843,750 674,776 480,456 256,988
    Acc Depreciation - 1,875,000 3,750,000 5,625,000 7,500,000 EAI - 1,970,243 1,970,243 1,970,243 1,970,243
    PPE, Net 7,500,000 5,625,000 3,750,000 1,875,000 - EOP - Debt 5,625,000 4,498,507 3,203,041 1,713,254 -
    Total Assets 7,500,000 6,925,353 6,497,487 6,132,026 5,808,942
    Principle Repaid 1,126,493 1,295,466 1,489,786 1,713,254
    Liabilities
    Debt 5,625,000 4,498,507 3,203,041 1,713,254 -
    Equity 1,875,000 1,875,000 1,875,000 1,875,000 1,875,000
    Retained Profit - 551,846 1,419,446 2,543,772 3,933,942
    Total Liabilities 7,500,000 6,925,353 6,497,487 6,132,026 5,808,942
    Checksum - - - - -

    Cash Flow Statement


    Year - 0 Year - 1 Year - 2 Year - 3 Year - 4

    Net Income (PAT) - 551,846 867,601 1,124,326 1,390,171


    Depreciation - 1,875,000 1,875,000 1,875,000 1,875,000
    Cash Flow From Operations - 2,426,846 2,742,601 2,999,326 3,265,171
    Capex 7,500,000 - - - -
    Cash Flow from Investing 7,500,000 - - - -
    Debt (Repayment)/Issuan 5,625,000 (1,126,493) (1,295,466) (1,489,786) (1,713,254)
    Equity Addition 1,875,000 - - - -
    Cash Flow from Financing 7,500,000 (1,126,493) (1,295,466) (1,489,786) (1,713,254)
    Net change in Cash - 1,300,353 1,447,134 1,509,539 1,551,916
    Cash - BOP - - 1,300,353 2,747,487 4,257,026
    Cash - EOP - 1,300,353 2,747,487 4,257,026 5,808,942
    Checksum -
    Average Cash

    Free Cash Flow - Equity


    Year - 0 Year - 1 Year - 2 Year - 3 Year - 4

    Net Income - 551,846 867,601 1,124,326 1,390,171


    + Depreciation - 1,875,000 1,875,000 1,875,000 1,875,000 Escalation Rate %- Tarif
    - Capital Expenses (7,500,000) - - - - 64.56% 3% 5% 8% 10% 13%
    - Debt Repayment/+ raise 5,625,000 (1,126,493) (1,295,466) (1,489,786) (1,713,254) 3%
    Diesel Price %

    Cash Flow to Equity (1,875,000) 1,300,353 1,447,134 1,509,539 1,551,916 5%


    8%
    10%
    Returns Analysis - Equity 13%
    Year - 0 Year - 1 Year - 2 Year - 3 Year - 4 15%

    FCFE (1,875,000) 1,300,353 1,447,134 1,509,539 1,551,916


    cumulative cashflow (574,647) 2,747,487 2,956,673 3,061,455

    Cost of Equity 20.0%


    NPV 1,529,645
    IRR 64.56%
    Dupoint Analysis
    PBT Margin 20% PBT/Sales
    Tax Burden 75%
    Interest B 60% PBT/EBIT
    Avg Assets 0.125
    Financial L 5
    6%
    Prin 1000
    Rate 1%
    Time 3
    EMI $340.02 $1,020.07

    BoP Int Prin repaid EoP


    1 1000 $10.00 $330.02 $669.98
    2 $669.98 $6.70 $333.32 $336.66
    3 $336.66 $3.37 $336.66 $0.00
    $20.07 $1,000.00

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