Table 4.

1999
5.84
1.45
4.38
1.53
2.85

Cashflow
Depreciation
PBT
Tax
PAT

Cash&securities
Other current assets
Net fixed assets
Total
10%

Cashflow
Depreciation
PBT
Tax
PAT
Dividends
Retained Earnings
FCFF/FCFE
PV
Table 4.11
Gross investment in fixed asssets
Investments in net working capital
Total

2002
8.74
1.97
6.77
2.37
4.4

2003
9.39
2.22
7.17
2.51
4.66

Balance sheet
Assets
Liabilities
2002
2003
2002
2003
3.12
3.61 CL
2.9
3.2
15.08 16.93 Equity
36.05 40.71
20.75 23.38
38.95 43.92 Total
38.95 43.91

Table 4.9

Table 4.10

2000
6.4
1.6
4.8
1.68
3.12

Income
2001
7.41
1.75
5.66
1.98
3.68

1
2004
10.47
2.4
8.08
2.83
5.25
2
3.25
2
1.82

2004
4.26
1.39
5.65

2
3
4
Forecasted profits and
2005
2006
2007
11.87
7.74
8.4
3.1
3.12
3.17
8.77
4.62
5.23
3.07
1.62
1.83
5.7
3
3.4
2
2.5
2.5
3.7
0.5
0.9
-2.3
2.5
2.5
-1.90
1.88
1.71

5
dividends
2008
9.95
3.26
6.69
2.34
4.35
2.5
1.85
2.5
1.55

Forecasted investment expenditure

2005
2006
2007
2008
10.5
3.34
3.65
4.18
0.6
0.28
0.42
0.93
11.1
3.62
4.07
5.11

Retained Earnings
Fresh Equity
Net Worth (RE Approa
Increaes in FA
Increase in WC
Depreciation
Net Worth (BS Approa

and dividends
2009
12.67
3.44
9.23
3.23
6
2.5
3.5
2.5
1.41

2010
15.38
3.68
11.69
4.09
7.6
3
4.6
3
1.54

nt expenditure
2009
5.37
1.57
6.94

2010
6.28
2
8.28

4.3
8.01

7.19

2004
3.25
0
43.96
4.26
1.39
2.4
43.96

2005
3.7
4.3
51.96
10.5
0.6
3.1
51.96

2006
0.5
0
52.46
3.34
0.28
3.12
52.46

Net worth
2007
0.9
0
53.36
3.65
0.42
3.17
53.36

et worth
2008
1.85
0
55.21
4.18
0.93
3.26
55.21

2009
3.5
0
58.71
5.37
1.57
3.44
58.71

2010
4.6
0
63.31
6.28
2
3.68
63.31