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Notes

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0% found this document useful (0 votes)
13 views

Notes

Notes for B.com.

Uploaded by

pagotoy134
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Market

Siaatn
slane
Irforence
Vaue Shae
hoet cost
Dhan)
docuóio1- Mariket undamtatally diforent
Stiatgu
Fuibuid
Musgtutuat defndsBaleneg Poforwanee Pex lsatabo
deud
Doo) x/sshaxn PIL,
daiina
Managoutnt
Capital dii MoV f
fz
V(I-Dhan)
VaeShaxe TAL
debt
Value
0Market |2 Nhee
diuidend CAPI +R)
N

deciions
MPof
0F
e(1-7) C+ Po
(
aud T With
ontion
CostP-F
Cos
iou (ha)
dobt
capitl
u[ dett
_ost
de =debt

y Fuiamhe Cost
Cost Wotkuig Redeoable
atket mm{shane
value (Fv) chaneamd ,PP
& matket Overal! Aiidnd
Dy: Ke dhe Ltd.
0|5 Exfaotd
Ke= Po Tthe)?Ke(1+)
60 10o(1-040) faceae wraintaigAbeeuhashas *
value Jafortan
Value
shate MatRt IKe
dinideudd 080
beeu
plRm-RF) Kf
+
Po
ahaxe Value Po
Model,Eoxmig =
bettes on
5)-46 cafital
60 ent
hasaZ60 al thou artatne
2511st60 MaRet
whith
at Book D+(Ftd+p)T
based tatane it Price
austuecost Value N

/sh on lliere
book ’
discounl ata snie (2-Dhar)
value

bë t
and
dhe
allcosthol Egui Debt
cafhl
afatuce Conputatin
Value
Soni
d
tofilal
au loutin
atin) (
age
60
ast
der
|00 O60 0/5
bo k
alue
a264 12

602 13 |845
3x4) (
sala chaaqei DoL
M0s o
»chanyei
sales Int] La(p-v
-f
-
EBT
&(p-v) "Del=
ehange
mEBiT
EBT
EBIT
butia £BITCouti La(o--FJ
uuut Pria cost/ Soles
Value Serap
DepricdatiouRate Ta T
cost Vaioble
t=) (N)= Value Pxaent Net
S
Centvibtion
19"20°/" -04 7125
-
I6-64/
|25
|6"13o
"80 16 l00
Mee WAce ANe
Dho) (I 26923
Accousabing would weARR
Braly ti, fuiaueio fo
al mdor teL and koE iifud
he
nde
stabiuje
aue to wanta
ameta
20/% to IS
wen were ny volatile
betan Qud
tax income 30"
Dobt T:- Obtiu
wiue toxugh balane
plans: finaucial bus
Lto" NV
2eAtöns
lndot otiyshatea 112,
udet
Rate Tan T=
lvel EB1T* =
- =
(|-T) I2 EBI7
)
Dudi
fointfference
iiwhat would he Coidu that the
oonieve

Calaulatim ROE

Gst }300

ROA 12:50 20-00

EBIT 30 3450 4s 5250 60


b Latenegt |(2) (2) 62) (2) (l2)
18 33 4050 42 00
(ae 20. (3\s-40) (76s) 990) ((2:15)
PAT 1260
8s 2310 a835 33"60

No- shaA 4 4 4

EPS = PAT (z)| 3|5 7'09


No

200 200 200 200 200

ROE (1) 630'/: Iyay. |/6 80 /.


alol 22
ROA- Au 15"00
20/
2 i0 S'60 735
3-85
RoE
|61 | 54
DE L 333

Eps 19°131
ROE
|-4* |30

Ludifonenee Pointi
a Cevel at whiola
EPS
oftonnaide
shaxehstya. Tt can be caiy dorid

(EBIT-I) (1-t)= (EBI T- 2)(|-+)


n (E BJT- T)
EBIT-1,)
r,(EBi7*- 2,)n2 = (EBI7 -I) hi
eBITX
EB1T*
EBIT* n2

3 -2)X
EBIT *(3-4). > 12x
I-¬ BIT 36-84
EBIT zh6 CYOveo
0-pua (Variy faoa to be caugidmed. wlile detmuig eapital sluchine
"Toodig
JUisk

Capital varket
Ldustystamdord

" Net Tncgme kfpaoacl


" Nel

Milen
(TDn)
Caslal
whexe inCome.
V= Toal matket vatue the
(ko) aicout sate abbebite
in whicln

S = Maket Vaue dobt


B- Monket aue the

Assusuh tie MM

afital amatket.
tó Ng trawsacton Cost
cast is negltetd.
No nesto Can 'aleet the market pxce e4 dhe suaxe
well nkwmed wittout any caste
Risk Cla

lane do_ not oxa`t


Value Market Uauig ([|Y1 (=ko) wACC
13602 +t·8 {"&15
040)(2267X lo1S12+ =o25X**50)
4 + bwAce
4o6
ED Ke Po 41"15)+0'15 b0
60
Po
i00
12
0o(l-0:4o) 080 =Ka
ue wake amduawaiig been has Ltd PP
MalGst qiual aud
Rf) Rfpl
-Rim ke
Ke Methodi Basd CAPM 57
ke
Share Pe Ke=
- od
Meth HatÙ Pue
D Ke
aa23
lauig fook Value
0 debt

shares Manket Value


Pook Value Equily = 10 + as =35

A Man ket Value (weiglwo)

() (-)

Debt
12
Prrfonenee
capial
60 R2"67 |3"602
|060
100 |·00 Ko= (-21b

Pbok Value
()

Debt 31-25

cafibl

35
sare'taphl C60-5)
65
19923
Casidexat 60a öum kauuig a taget
Oud debt a 40%..
caßital sláckóre of gyuilt,

Totad fuad WACe Me

500 l00

Equit at bo% 301

Debt ot 40/ 20 30

301

lett ot 10%
WACC
(T"Dha

V= Vå +tb

D= J,50,000

VUL = E BIT( EBIT = T60,000


Ko D =obt
- 60,000I-0-60)
010
24000

VL = Qu000 t I,50,000'X 0:60


R,40,000
Firm B -
Ke
kd 6°"ll-060) = 2.4/.

Ke= Ko +(ko- Ka) x B dlbt

- o-t0+(10 - 0*024)y, 50, 000


1, 80,000
X08333
-|l633
Pyatlas due to highen dett -aRig

AX EXHAV5TI0 N nu

rwalon thry

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