BV of Debt

16003

MV of Debt
PV of Operating Lease
Total MV of Debt

14962
1720
16682

MP per Share
No of Shares
Total MV of Equity

24.34
1856.752
45193

Debt+Equity
D/E
Beta
Tax Rate
Unlevered Beta
Rfr
Rm-Rfr

61875
0.37
0.9011
38%
0.73
3.50%
6%

Debt

D/E
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%

Revenue
EBITDA
Depriciation
EBIT
Interest
EBITDA (Adjusted for lease)
EBIT ( Adjusted for lease)
Interest (Adjusted for lease)

Ke
After Tax Kd
Debt Proportion
Equity Proportion
WACC

Levered Beta
0.00
0.11
0.25
0.43
0.67
1.00
1.50
2.33
4.00
9.00

Last Fiscal Year

Trailing 12 month
37843
8986
1582
7404
712
9989
7708
815

Cost of Equity
0.73
0.78
0.85
0.93
1.04
1.19
1.42
1.79
2.55
4.82

7.90%
8.20%
8.58%
9.07%
9.72%
10.63%
11.99%
14.26%
18.81%
32.45%

36990
8319
1593
6726
728
8422
6829
831

Effect of moving to higher Debt

D/(D+E)
D/E
Debt
EBIT

0%
0.00
0
6829

10%
0.11
6188
6829

20%
0.25
12375
6829

Interest
Pre Tax Interest coverage
Likely rating
Pre Tax Cost of Debt
After Tax Cost of Debt

0
AAA
4.75%
2.95%

Debt to Capital
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%

Cost of Financing at 7.32%

Cost of Financing at 7.51%
Annual Saving

Current g
New value of Firm
Current Value
PV of Saving
No Of Shares
Increase in value per share
Current price
New Price
No of share after buyback
New Price after Buyback

588
11.62
AAA
4.75%
2.95%

Cost of Equity
After Tax Cost of Debt
CoC
7.90%
2.95%
8.20%
2.95%
8.58%
2.95%
9.07%
3.26%
9.72%
3.72%
10.63%
4.03%
11.99%
4.34%
14.26%
7.44%
18.81%
8.37%
32.45%
8.37%

EBIT
Tax
PAT
(+)Depriciation
(-)Capex
FCFF
Current WACC
Particulars
Total Debt
MV of Equity
Total

294
23.24
AAA
4.75%
2.95%

7.90%
7.68%
7.45%
7.32%
7.32%
7.33%
7.40%
9.49%
10.46%
10.78%

6829
-2595.02
4234
1593
-1628
4199

Amount

Weight
16682
45193
61875

Cost of Capital
26.96%
3.72%
73.04%
8.91%
100.00%

4528.59
4645.73
117.14

0.676%
63638.38
61875
1763.38
1856.75
0.95
24.34 Particulars
25.29 Total Debt
1468.41 Total Equity
26.00

Book Value
16003

8.91%
3.72%
26.96%
73.04%
7.51%

30%
0.43
18563
6829

30%
0.43
18563
6829

40%
0.67
24750
6829

40%
0.67
24750
6829

40%
0.67
24750
6829

50%
1.00
30938
6829

50%
1.00
30938
6829

60%
1.50
37125
6829

60%
1.50
37125
6829

882
7.75
AA
4.75%
2.95%

975
7.01
AA
5.25%
3.26%

WACC
1.00%
6.51%
7.51%

New
Difference
25455.35 9452.352195
38183.03

1299
5.26
A+
5.25%
3.26%

1423
4.80
A
5.75%
3.57%

1485
4.60
A
6.00%
3.72%

1856
3.68
A6.00%
3.72%

2011
3.40
A6.50%
4.03%

2413
2.83
BBB
6.50%
4.03%

2599
2.63
BBB
7.00%
4.34%

70%
2.33
43313
6829

70%
2.33
43313
6829

70%
2.33
43313
6829

70%
2.33
43313
6829

70%
2.33
43313
6829

70%
2.33
43313
6829

80%
4.00
49500
6829

80%
4.00
49500
6829

90%
9.00
55688
6829

3032
2.25
BB+
7.00%
4.34%

3357
2.03
BB
7.75%
4.81%

3682
1.85
B+
8.50%
5.27%

4115
1.66
B
9.50%
5.89%

4656
1.47
B10.75%
6.67%

5198
1.31
B12.00%
7.44%

5940
1.15
CCC
12.00%
7.44%

6683
1.02
CCC
13.50%
8.37%

7518
0.91
CCC
13.50%
8.37%

BV of Debt

16003

MV of Debt
PV of Operating Lease
Total MV of Debt

14962
1720
16682

MP per Share
No of Shares
Total MV of Equity

24.34
1856.752
45193

Value of levered Firm

Tax Advantage
Probability of Bankrupty
Pv of Bankrupty costs
Value of Unlevered Firm
Rfr
Rm-Rfr

61875
6339.16
0.51%
78.89
55456.95
3.50%
6%

Debt

Debt
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%

Revenue
EBITDA
Depriciation
EBIT
Interest
EBITDA (Adjusted for lease)
EBIT ( Adjusted for lease)
Interest (Adjusted for lease)

Ke
After Tax Kd
Debt Proportion
Equity Proportion
WACC

Tax Rate
0
6188
12375
18563
24750
30938
37125
43313
49500
55688

Last Fiscal Year

Trailing 12 month
37843
8986
1582
7404
712
9989
7708
815

Tax Benefit
38%
38%
38%
38%
38%
38%
38%
38%
38%
38%

0
2351
4703
7054
9405
11756
14108
16459
18810
21161

36990
8319
1593
6726
728
8422
6829
831

Effect of moving to higher Debt

D/(D+E)
D/E
Debt
EBIT

0%
0.00
0
6829

10%
0.11
6188
6829

20%
0.25
12375
6829

Interest
Pre Tax Interest coverage
Likely rating
Pre Tax Cost of Debt
After Tax Cost of Debt

0
AAA
4.75%
2.95%

Debt to Capital
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%

EBIT
Tax
PAT
(+)Depriciation
(-)Capex
FCFF
Current WACC
Particulars
Total Debt
MV of Equity
Total
Cost of Financing at 7.32%
Cost of Financing at 7.51%
Annual Saving

Current g
New value of Firm
Current Value
PV of Saving
No Of Shares
Increase in value per share
Current price
New Price
No of share after buyback
New Price after Buyback

294
23.24
AAA
4.75%
2.95%

588
11.62
AAA
4.75%
2.95%

Cost of Equity
After Tax Cost of Debt
CoC
0.00%
2.95%
235125.00%
2.95%
470250.00%
2.95%
705375.00%
3.26%
940500.00%
3.72%
1175625.00%
4.03%
1410750.00%
4.34%
1645875.00%
7.44%
1881000.00%
8.37%
2116125.00%
8.37%

0.00%
211612.79%
376200.59%
493763.48%
564301.49%
587814.52%
564302.60%
493767.71%
376206.70%
211620.03%

6829
-538744.0781
-531915
1593
-1628
-531950

Amount

Weight
16682
45193
61875

Cost of Capital
26.96%
3.72%
73.04%
3.53%
100.00%

349161545.70
2216.15
-349159329.55

-113.634%
12.85
61875
-61862.15
1856.75
-33.32
24.34 Particulars
-8.98 Total Debt
2514.02 Total Equity
0.00

Book Value
16003

3.53%
3.72%
26.96%
73.04%
3.58%

Rating of Firm
AAA
AAA
AAA
AA
A
ABBB
BCCC
CCC

30%
0.43
18563
6829

Aspire V5-431

Bankrupty Cost
11
11
11
79
102
387
1166
6961
9128
9128

30%
0.43
18563
6829

40%
0.67
24750
6829

40%
0.67
24750
6829

40%
0.67
24750
6829

50%
1.00
30938
6829

50%
1.00
30938
6829

60%
1.50
37125
6829

882
7.75
AA
4.75%
2.95%

975
7.01
AA
5.25%
3.26%

WACC
1.00%
2.58%
3.58%

New
Difference
5.139999713
-15997.86
7.70999957

1299
5.26
A+
5.25%
3.26%

1423
4.80
A
5.75%
3.57%

1485
4.60
A
6.00%
3.72%

1856
3.68
A6.00%
3.72%

2011
3.40
A6.50%
4.03%

2413
2.83
BBB
6.50%
4.03%

60%
1.50
37125
6829

70%
2.33
43313
6829

70%
2.33
43313
6829

70%
2.33
43313
6829

70%
2.33
43313
6829

70%
2.33
43313
6829

70%
2.33
43313
6829

80%
4.00
49500
6829

80%
4.00
49500
6829

2599
2.63
BBB
7.00%
4.34%

3032
2.25
BB+
7.00%
4.34%

3357
2.03
BB
7.75%
4.81%

3682
1.85
B+
8.50%
5.27%

4115
1.66
B
9.50%
5.89%

4656
1.47
B10.75%
6.67%

5198
1.31
B12.00%
7.44%

5940
1.15
CCC
12.00%
7.44%

6683
1.02
CCC
13.50%
8.37%

90%
9.00
55688
6829

7518
0.91
CCC
13.50%
8.37%