Model Scheme IS CFS Fcfe BS Irr Coc NPV/DCF Development Schedule

Download as xlsx, pdf, or txt
Download as xlsx, pdf, or txt
You are on page 1of 11

MODEL SCHEME

IS

CFS FCFE
DEVELOPMENT BS
SCHEDULE
IRR > CoC NPV/DCF
DEBT DECISION
SCHEDULE MAKING
Development Phase
Years 0 1 2

Development Stage

Total Project Cost for Period = HC + SC 30,000,000


Fixed Assets, Gross 30,000,000 30,000,000
Hard Cost 30000000 30,000,000 -
Phasing 100%

Funding Mix
Equity ADDED 20% 6,000,000
Debt ADDED 80% 24,000,000

Equity Capital 6,000,000 6,000,000

Capitalised Interest
Capitalised Interest (Soft Cost) 10% 2,400,000

Debt Schedule
Opening Debt - 24,000,000
Additions / Repayment 24,000,000 (4,800,000)
Closing Debt 24,000,000 19,200,000

D/E
Assumptions
Current Case Base
Initial Sales Volume (Units) 4000 <==YEAR-2
Initial Sales Price Per Unit 4450 <==YEAR-2
Initial Cost Price Per Unit 2300 <==YEAR-2
Growth in Sales Volume 5%
Growth in Sales Price Per Unit 10%
Growth in Cost Per Unit 8%

Income Statement

Sales
Cost of Goods Sold
Selling & Administration Costs 25%
EBITDA
Depreciation
EBIT
Interest, Net
EBT
Tax 30%
PAT OR NI
Balance Sheet

Liabilities
Debt 24,000,000 19,200,000
DTL
Equity Capital 6,000,000 6,000,000
Retained Earnings - -
Total Liabilities 30,000,000 25,200,000

Assets
Fixed Assets, Gross 30,000,000 30,000,000
Accumulated Depreciation 4 - -
Net Fixed Assets 30,000,000 30,000,000
Cash - (4,800,000)
Working Capital 10% - -
Total Assets 30,000,000 25,200,000
Checksum - -

Cash Flow Statement

Net Income - -

Depreciation - -
Change in W/C (net current asset) - -
CHANGE IN DTL
Net OCF - -

Capex (Change in Fixed Assets, Gross) (30,000,000) -


Net ICF (30,000,000) -

CHANGE IN DEBT 24,000,000 (4,800,000)


CHANGE IN EQUITY CAPITAL 6,000,000 -
Net FCF 30,000,000 (4,800,000)

Net Change in Cash - (4,800,000)

BOP Cash - -
EOP Cash - (4,800,000)

Interest, Net

Interest Expense 10%


Interest Income 5%
Interest, Net

Computation of Free Cash Flow


FCFE = CFO + CFI + CHANGE IN DEBT (6,000,000) (4,800,000)

Returns Analysis
IRR Sensitiv
Net Present Value 15% (2,723,378) 10.24%
Internal Rate of Return 10.24% 10.0%
12.5%
15.0%
17.5%
20.0%
Project Life 4 Years
3 4 5 6 7
COD

30,000,000 30,000,000 30,000,000 30,000,000


-

6,000,000 6,000,000 6,000,000 6,000,000

EQUAL REPAYMENT IN 3 YEARS


19,200,000 14,400,000 9,600,000 4,800,000
(4,800,000) (4,800,000) (4,800,000) (4,800,000)
14,400,000 9,600,000 4,800,000 - -

4,000 4,200 4,410 4,631


4,450 4,895 5,385 5,923
2,300 2,484 2,683 2,897

17,800,000 20,559,000 23,745,645 27,426,220


9,200,000 10,432,800 11,830,795 13,416,122
4,450,000 5,139,750 5,936,411 6,856,555
4,150,000 4,986,450 5,978,439 7,153,543
7,500,000 7,500,000 7,500,000 -
(3,350,000) (2,513,550) (1,521,561) 7,153,543
1,920,000 1,657,500 1,264,848 805,101
(5,270,000) (4,171,050) (2,786,409) 6,348,442
- - - 1,904,533
(5,270,000) (4,171,050) (2,786,409) 4,443,909
14,400,000 9,600,000 4,800,000 - -

6,000,000 6,000,000 6,000,000 6,000,000 -


- (5,270,000) (9,441,050) (12,227,459) (7,783,550)
20,400,000 10,330,000 1,358,950 (6,227,459) (7,783,550)

30,000,000 30,000,000 30,000,000 30,000,000 -


- 7,500,000 15,000,000 22,500,000 22,500,000
30,000,000 22,500,000 15,000,000 7,500,000 (22,500,000)
(9,600,000) (13,950,000) (15,696,950) (16,102,023) 11,973,828
- 1,780,000 2,055,900 2,374,565 2,742,622
20,400,000 10,330,000 1,358,950 (6,227,459) (7,783,550)
- - - - -

- (5,270,000) (4,171,050) (2,786,409) 4,443,909

- 7,500,000 7,500,000 7,500,000 -


- (1,780,000) (275,900) (318,665) (368,057)

- 450,000 3,053,050 4,394,927 4,075,852

- - - - 30,000,000
- - - - 30,000,000

(4,800,000) (4,800,000) (4,800,000) (4,800,000) -


- - - - (6,000,000)
(4,800,000) (4,800,000) (4,800,000) (4,800,000) (6,000,000)

(4,800,000) (4,350,000) (1,746,950) (405,073) 28,075,852

(4,800,000) (9,600,000) (13,950,000) (15,696,950) (16,102,023)


(9,600,000) (13,950,000) (15,696,950) (16,102,023) 11,973,828

1,440,000.00 960,000.00 480,000.00 -


(480,000) (697,500) (784,848) (805,101)
1,920,000 1,657,500 1,264,848 805,101
(4,800,000) (4,350,000) (1,746,950) (405,073) 34,075,852

IRR Sensitivity with Initial Sales Price and Growth in Sales Volume
115 120 125 130 135
#NUM! #NUM! #NUM! #NUM!
#NUM! #NUM! #NUM! #NUM! #NUM!
#NUM! #NUM! #NUM! #NUM! #NUM!
#NUM! #NUM! #NUM! #NUM! #NUM!
#NUM! #NUM! #NUM! #NUM! #NUM!
PROJECTS
DEVELOPMENT PHASE

TECHNICAL TEAM
LAND
CONST.
EQUIP
MISC

HARD COST + SOFT COST = TOTAL PROJECT COST

LEVEL-1 ==> OUTPUT ==> TPC

3 YEARS TO BUILD, TOTAL HARD COST = 300, D/E =1, INT = 10%

YEARS 1 2 3 BALANCE SHEET T=0


1/3 1/3 1/3
% PHASING 33% 33% 33% DEBT 50 CASH
HC 100 100 100 300 EQUITY 50
SC 5 12 18 35
TPC TOTAL PROJECT COST ===> 335 TOTAL LIA 100 TOTAL ASST
CHECK
SOFT COST = CAPITALISED INTEREST = INTEREST DURING CONSTRUCTION (IDC)
BALANCE SHEET T=1
=10%*50=5
D/E = 1.1 DEBT 55 CASH
INT 5 EQUITY 50 FA
TAX BE 1.5 SOFT COST
TOTAL LIA 105 TOTAL ASST
DEP 5 REPAYMEN 5 CHECK

BALANCE SHEET T=2


=10%*50=5
DEBT 117 CASH
EQUITY 100 FA
SOFT COST
TOTAL LIA 217 TOTAL ASST
CHECK
FINANCIAL TEAM
HOW WILL YOU FUND
COSTS FOR FUNDING

= TOTAL PROJECT COST

100

100
0

0
100
5 <== MATCHING ENTRY
105 <== DEPRECIATING (TPC)
0

0
200
17
217
0
CIRCULAR REF ERROR

CELL CONNECTS TO ITSELF

TPC = HC + SC

DEBT INT = SC

ITERATIONS REPEAT
ITER-1 ITER-2 ITER-3 ITER-4 ITER-5 ITER-6 ITER-7 ITER-8 ITER-9
HC 100 100 100 100 100 100 100 100 100
SC = INT 5 5.25 5.2625 5.263125 5.2631563 5.2631578 5.2631579 5.2631579
TPC 100 105 105.25 105.2625 105.26313 105.26316 105.26316 105.26316 105.26316

DEBT 50 52.5 52.625 52.63125 52.631563 52.631578 52.631579 52.631579 52.631579

INT = SC 5 5.25 5.2625 5.263125 5.2631563 5.2631578 5.2631579 5.2631579 5.2631579


ERROR 5.00 0.25 0.01 0.00 0.00 0.00 0.00 0.00 0.00

- 0.00
ITER-10 ITER-11 ITER-12 ITER-13 ITER-14
100 100 100 100 100
5.2631579 5.2631579 5.26315789 5.2631579 5.2631579
105.26316 105.26316 105.263158 105.26316 105.26316

52.631579 52.631579 52.6315789 52.631579 52.631579

5.2631579 5.2631579 5.26315789 5.2631579 5.2631579


0.00 0.00 0.00 - -

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy