Revenue 66,300,000 Calcul

NOPAT 42,300,000 Particulars

NWC 14,586,000 Growth Rate
Depreciation 7,000,000 Revenue
Capex 3,300,000 NOPAT
Tax rate 30% Depreciation
Capex
NWC
Diff in WC
FCFF=NOPAT+Dep-
WC-Capex

Calculation of PV of FCFF
Inflation Rate = Growth Rate Year
Year Rate 2025
2025 3.92% 2026
2026 3.47% 2027
2027 3.02% 2028
2028 2.57% 2029
2029 2.12% 2030

Assumtion = cost of capital is 12%

 Calculation of FCFF for the year 2024-2029
2024 2025 2026 2027 2028 2029 2030
3.92% 3.47% 3.02% 2.57% 2.12% 1.67%
66,300,000 68,898,960 71,289,754 73,442,704 75,330,182 76,927,182 78,211,866
42,300,000 43,958,160 45,483,508 46,857,110 48,061,338 49,080,238 49,899,878
7,000,000 7,274,400 7,526,822 7,754,132 7,953,413 8,122,025 8,257,663
3,300,000 3,429,360 3,548,359 3,655,519 3,749,466 3,828,955 3,892,898
14,586,000 15,157,771 15,683,746 16,157,395 16,572,640 16,923,980 17,206,610
571,771 525,975 473,649 415,245 351,340 282,630
47,231,429 48,935,996 50,482,073 51,850,040 53,021,969 53,982,012

Calculation of PV of FCFF Calculation of terminal value

FCFF DF @ 12% PV of FCFF TV= FCFF(1+g) * LDV
47,231,429 0.8928 42,168,219.81 Ko - g
48,935,996 0.7972 39,011,776.01 TV = 5,39,82,012(1+0.0212) * 0.5066
50,482,073 0.7113 35,907,898.52 0.12-0.0212
51,850,040 0.6355 32,950,700.42 TV= 28,26,62,447.059
53,021,969 0.5674 30,084,665.21
53,982,012 0.5066 27,347,287.28
Total 207,470,547.26 Value of the firm= PV of FCFF + TV
Value of the firm= 207470547.26 + 282662447.059
on = cost of capital is 12% Value of the firm = 49,01,32,994.319
7.26 + 282662447.059
3D Future Technologies Pvt. Ltd.
Income & Expenditure Summary : Mar 2015 - Mar 2023 : Non-Annualised : Rs. Crore
Mar-16 Mar-17 Mar-18 Mar-19 Mar-20
3 mths 12 mths 12 mths 12 mths 12 mths
IGAAP IGAAP INDAS INDAS INDAS
-
Total income 0.05 0.32 1.29 2.11
Sales 0.23 1.2 2.01
Industrial sales 0.23 1.19 1.96
Income from non-financial services 0.01 0.05
Income from financial services 0.04 0.05 0.03 0.01
Interest income 0.01
Dividends
Income from treasury operations 0.04 0.05 0.02 0.01
Other income 0.01 0.04 0.06 0.05
Prior period and extraordinary income 0.04

Change in stock 0.01 0 0.01

Total expenses 0.07 1.12 1.96 3.32 4.95

Operating expenses 0.07 0.98 2.56 3.21 4.72
Raw materials, stores & spares 0 0.18 0.5 0.78
Purchase of finished goods 0.01 0.02 0.03
Packaging and packing expenses
Power, fuel & water charges 0.02 0.02 0.03
Compensation to employees 0.41 1.02 1.22 1.57
Indirect taxes 0.05
Royalties, technical know-how fees, etc 0.02 0.26 0.22 0.22
Rent & lease rent 0.05 0.06
Repairs & maintenance 0.05 0.02 0.36
Insurance premium paid 0.01 0.01
Outsourced manufacturing jobs
Outsourced professional jobs 0.33 0.67 0.57 0.74
Non-executive directors' fees
Selling & distribution expenses 0.07 0.07 0.32
Travel expenses 0.01 0.1 0.08 0.16 0.37
Communications expenses 0.01 0.09 0.11 0.08
Printing & stationery expenses 0.01 0.06 0.03 0.02
Miscellaneous expenditure 0.06 0.05 0.09 0.12 0.13
Other operational exp of industrial ent 0.05
Other operational exp of non-fin services ent
Provision for estimated losses on onerous contracts
Provision for obscolescence of raw material
Financial services expenses 0.03 0.13 0.16 0.65
Fee based financial services expenses 0.02
Fund based financial services expenses 0.01 0.13 0.16 0.65
Non-cash charges 0.05 0.49 0.45 0.53
Depreciation 0.05 0.49 0.44 0.53
 Amortisation
Write-offs 0.01
Provisions

Prior period and extraordinary expenses

Provision for direct tax 0.06 -1.22 -0.5 -0.95

Profit after tax -0.07 -1.07 -1.63 -2.03 -2.83

Addendum Information
Total income net of P&E 0.05 0.32 1.29 2.07
Net sales 0.23 1.15 2.01
Cost of goods sold 0 0.35 1.61 2.08 2.65
Cost of sales 0.07 1.03 3.04 3.65 5.24
Cost of sales per day 0 0 0.01 0.01 0.01
 Mar-21 Mar-22 Mar-23 Mar-24
12 mths 12 mths 12 mths 12 mths
INDAS INDAS INDAS INDAS

2.33 3.01 4.82 6.64

2.23 2.85 4.8 6.45
2.17 2.82 4.75 6.42
0.06 0.03 0.05 0.03
0.01 0.15 0.04
0.01 0.01

0.15 0.03
0.05 0.06
0.04 0.01 0.02 0.09

-0.01 0.02 0 -0.01

4.82 5.71 8.96 12.09

4.71 5.41 8.44 10.32
0.85 1 1.77 2.41
0.02 0.05 0.05 0.05

0.04 0.05 0.06 0.04

1.8 2.03 2.55 3.25
0.04
0.33 0.24 0.37 0.35
0.06 0.01
0.06 0.26 0.19 0.69
0.01 0.01 0.02 0.01

0.81 0.85 1.75 1.25

0.15 0.2 0.64 0.84

0.25 0.24 0.47 0.81
0.1 0.24 0.32 0.38
0.02 0.01 0.03 0.03
0.21 0.19 0.22 0.2

0.49 0.68 0.95 1.28

0.49 0.68 0.95 1.28

0.56 0.59 0.9 0.7
0.56 0.59 0.74 0.7
 0.1
0.06

-0.94 -0.97 -1.33 -0.21

-2.5 -2.68 -4.14 -5.46

2.29 3 4.8 6.55

2.23 2.81 4.8 6.45
3.03 3.26 4.68 5.76
5.28 5.98 9.18 11.03
0.01 0.02 0.03 0.03
3D Future Technologies Pvt. Ltd.
Cash Flow Summary : Mar 2016 - Mar 2024 : Non-Annualised : Rs. Crore
Mar-16 Mar-17 Mar-18
3 mths 12 mths 12 mths
IGAAP IGAAP INDAS
-
Net cash flow from operating activities -0.01 -1.24 -2.26
Net profit before tax & extraordinary items -0.07 -1.01 -2.85
Add: Adj for non-cash and non-op exp 0.06 0.61
Less: Adj for non-cash and non-op income 0.04 0.06
Operating cash flow before working cap chgs -0.07 -0.99 -2.3
Add:Cash inflow due to decr/(incr) in wkg cap 0.06 0 0.18
Less:Cash outflow due to (decr)/incr in wkg cap 0 0.25 0.14
Cash flow generated from operations -0.01 -1.24 -2.26
Cash flow before extraordinary items -0.01 -1.24 -2.26
Cash outflow due to extraordinary items
Cash inflow due to extraordinary items
Cash outflow due to misc expend
 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
12 mths 12 mths 12 mths 12 mths 12 mths 12 mths
INDAS INDAS INDAS INDAS INDAS INDAS

-1.34 -2.29 -3.18 -1.31 -2.74 -4.23

-2.53 -3.78 -3.45 -3.65 -5.47 -5.68
0.6 1.17 1.02 1.26 1.81 1.89
0.02 0.06 0.05 0.16 0.02 0.13
-1.95 -2.67 -2.48 -2.55 -3.68 -3.92
0.94 0.92 0.14 1.83 1.81 0.2
0.33 0.54 0.84 0.59 0.87 0.51
-1.34 -2.29 -3.18 -1.31 -2.74 -4.23
-1.34 -2.29 -3.18 -1.31 -2.74 -4.23
3D Future Technologies Pvt. Ltd.
Balance Sheet Summary : Mar 2016 - Mar 2024 : Non-Annualised : Rs. Crore
Mar-16 Mar-17 Mar-18
3 mths 12 mths 12 mths
IGAAP IGAAP INDAS
-
Total liabilities 1 1.81 3.68

Total Capital 1 2 4
Paid up equity capital 1 2 4
Paid up preference capital

Share appln money & suspense account

Reserves and funds -0.07 -1.14 -2.77

Free reserves -0.07 -1.14 -2.77
General reserves
Balance as per profit & loss account -0.07 -1.14 -2.77
Specific reserves
Security premium reserves (net of deductions)
Capital reserves (incl grants and subsidies)
Capital redemption reserves
Debenture and bond redemption reserves

Long term borrowings excl current portion

Long term borrowings incl current portion
From banks
From financial institutions
Syndicated across banks & institutions
Debentures and bonds
Loans from promoters, directors & shareholders
Less: current portion of long term borrowings

Deferred tax liability 0.06

Other long term liabilities
Long term provisions 0.04

Current liabilities & provisions 0.07 0.89 2.41

Short term borrowings 0.86 2.24
Short term trade payables and acceptances 0.03

Total assets 1 1.81 3.68

Net fixed assets 1.37 1.45

Net intangible assets 0.15
Land and buildings
Plant, machinery, computers & electrical assets 1.16 1.1
 Capital work-in-progress
Net pre-operative exp pending allocation

Long term investments 0.5

Long term investments in group cos
Long term investments in non group cos 0.5

Long term loans & advances 0.03 0.01

Deferred tax assets 1.16
Other long term assets 0.02

Current assets and loans & advances 1 0.41 0.54

Inventories 0.02 0.13
Trade & bills receivables 0.04
Cash & bank balance 1 0.07 0.09
Short term investments 0.16 0.23
Short term loans & advances 0.16 0.05

Addendum Information
Net fixed assets net of reval 1.37 1.45
Tangible net worth 0.93 0.86 1.08
Total outside liabilities 0.07 0.95 2.45
 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
12 mths 12 mths 12 mths 12 mths 12 mths 12 mths
INDAS INDAS INDAS INDAS INDAS INDAS

4.71 5.86 6.37 9.07 11.29 12.04

6.5 8.5 8.5 9.75 9.75 11.28

6.5 8.5 8.5 9.75 9.75 11.28

-4.8 -7.62 -10.13 -12.82 -16.95 -16.4

-4.8 -7.62 -10.13 -12.82 -16.95 -22.37

-4.8 -7.62 -10.13 -12.82 -16.95 -22.37

5.97
5.97

0.77 0.66 0.26

0.77 0.66 0.26

0.01 0.01 0.01

0.25 0.78 2.15
0.07 0.12 0.22 0.36 0.4 0.29

2.69 4.85 7.77 11 16.65 14.46

1.89 3.01 6.55 8.1 12.71 11.96
0.37 1.02 0.14 0.36 0.52 0.36

4.71 5.86 6.37 9.07 11.29 12.04

1.86 1.99 1.47 2.41 2.1 1.72

0.11 0.07 0.04 0.01 0 0.13

1.52 1.66 1.25 1.14 0.99 0.87

 0.5 0 0 0.15 0.15 0.15

0.5 0 0 0.15 0.15 0.15

0.04 0.06 0.02 0.05 0.06 0.03

1.66 2.61 3.56 4.53 5.84 6.04

0.65 1.2 1.32 1.93 3.14 4.1

0.11 0.27 0.13 0.44 0.77 0.57
0.14 0.21 0.37 0.33 0.72 1.03
0.09 0.11 0.05 0.09 0.5 1.2
0.05 0.06
0.26 0.55 0.77 1.07 1.15 1.3

1.86 1.99 1.47 2.41 2.1 1.72

1.59 0.81 -1.67 -3.08 -7.2 -5.25
3.01 4.98 8 12.14 18.49 17.16