Sales Figures 2010

Sales of Hero
4600130

Industry Total sales 9936924

Calculation of WC

Mar 16
Total Current Assets 28,377.60
Total Current Liabilities 40,858.70
WC -12,481.10
WC for Chittor plant -2,139.62
change in WC -741.00
 2011 2012 2013 2014 2015 2016

5402444 6235205 6073581 6245960 6631703 7315868.7

17% 15% -3% 3% 6% 10%

12602187 14598319 14961494 16160444 17696828 18758637.7

27% 16% 2% 8% 10% 6%

Mar 15 Mar-14

30,823.70 22,823.90

38,982.30 41,393.60 7500000

-8,158.60 -18,569.70 1200000
-1,398.62 -3,183.38 1800000
10500000
 2017 2018 2019 2020 2021 2022

7827979.5 8670992.68 9364672.1 10113845.9 10720676.6 11363917.2

7% 11% 8% 8% 6% 6%

20071742.3 21677481.7 23411680.2 25284614.7 26801691.5 28409793

7% 8% 8% 8% 6% 6%
 2023 2024 2025 2026 2027

12045752.2 12768497.4 13534607.2 14346683.7 15207484.675

6% 6% 6% 6% 6%

30114380.6 31921243.4 33836518.1 35866709.1 38018711.687

6% 6% 6% 6% 6%
 2028 2029 2030 2031 2032

16119933.75541 17087129.78 18112357.56758 19017975.4 19968874.2

6% 6% 6% 5% 5%

40299834.38853 42717824.45 5280893.918949 47544938.6 49922185.5

6% 6% 6% 5% 5%
 2033 2034 2035 2036 2037 2038

20967317.9 22015683.8 23116468 24041126.7 25002771.8 26002882.7

5% 5% 5% 4% 4% 4%

52418294.8 55039209.6 57791170 60102816.8 62506929.5 65007206.7

5% 5% 5% 4% 4% 4%
 2039 2040 2041 2042 2043 2044

27042998 28124717.9 29249706.6 30419694.9 31636482.7 32901942

4% 4% 4% 4% 4% 4%

67607495 70311794.8 73124266.6 76049237.2 79091206.7 82254855

4% 4% 4% 4% 4% 4%
 2045 2046 2047 2048

34218019.7 35586740.5 37010210.1 38490618.5

4% 4% 4% 4%

85545049.2 88966851.1 92525525.2 96226546.2

4% 4% 4% 4%
 2018 2019
Capacity Utilisation 25% 30.0%
Sales from AP Plant (Mn Vehicles) 0.45 0.54
Price/Vehicle 47898.4686 48856.4379
Sales (Millions) 21554.3109 26382.4765
COGS @ 80% of sales 17243.4487 21105.9812
Gross profit 4310.86217 5276.4953
SG&A @ 10% of sales 2155.43109 2638.24765
Operating profit 2155.43109 2638.24765
Depriciation 266.666667 400
EBIT 1888.76442 2238.24765
Tax@30% 566.629326 671.474294
NOPAT/PAT 1322.13509 1566.77335
Dividend 793.281056 940.064012
Retained earning 528.854037 626.709341

Change in Working Capital -741.00 -741.00

Capital Expenditure 8000 4000 0

FCFF -8000 -1,670.20 2,707.77

Initial Investment 16000

Wacc 12%

NPV 13,421.75
IRR 22%
 2020 2021 2022 2023 2024
40.0% 50.0% 65.0% 80.0% 85.0%
0.72 0.9 1.17 1.44 1.53
49833.566687 50830.238 51846.8428 52883.7796 53941.4552
35880.168015 45747.2142 60660.8061 76152.6427 82530.4265
28704.134412 36597.7714 48528.6448 60922.1141 66024.3412
7176.033603 9149.44284 12132.1612 15230.5285 16506.0853
3588.0168015 4574.72142 6066.08061 7615.26427 8253.04265
3588.0168015 4574.72142 6066.08061 7615.26427 8253.04265
400 666.666667 866.666667 866.666667 1133.33333
3188.0168015 3908.05476 5199.41394 6748.5976 7119.70932
956.40504045 1172.41643 1559.82418 2024.57928 2135.9128
2231.611761 2735.63833 3639.58976 4724.01832 4983.79652
1338.9670566 1641.383 2183.75385 2834.41099 2990.27791
892.64470442 1094.25533 1455.8359 1889.60733 1993.51861

-741.00 -741.00 -741.00 -741.00 -741.00

8000 6000 0 8000 6000

-4,627.39 -1,856.70 5,247.26 -1,668.32 858.13

 2025 2026 2027 2028 2029 2030
90.0% 90.0% 90.0% 90.0% 90.0% 90.0%
1.62 1.62 1.62 1.62 1.62 1.62
55020.2843 56120.69 57243.1038 58387.9659 59555.7252 60746.8397
89132.8606 90915.5178 92733.8282 94588.5048 96480.2748 98409.8803
71306.2885 72732.4143 74187.0626 75670.8038 77184.2199 78727.9043
17826.5721 18183.1036 18546.7656 18917.701 19296.055 19681.9761
8913.28606 9091.55178 9273.38282 9458.85048 9648.02748 9840.98803
8913.28606 9091.55178 9273.38282 9458.85048 9648.02748 9840.98803
1333.33333 1333.33333 1333.33333 1333.33333 1333.33333 1333.33333
7579.95273 7758.21845 7940.04949 8125.51714 8314.69415 8507.6547
2273.98582 2327.46554 2382.01485 2437.65514 2494.40825 2552.29641
5305.96691 5430.75292 5558.03464 5687.862 5820.28591 5955.35829
3183.58015 3258.45175 3334.82078 3412.7172 3492.17154 3573.21497
2122.38676 2172.30117 2223.21386 2275.1448 2328.11436 2382.14332

-741.00 -741.00 -741.00 -741.00 -741.00 -741.00

0 0 0 0 0 0

7,380.30 7,505.09 7,632.37 7,762.20 7,894.62 8,029.69

 2031 2032 2033 2034 2035 2036
90.0% 90.0% 90.0% 90.0% 90.0% 90.0%
1.62 1.62 1.62 1.62 1.62 1.62
61961.7765 63201.012 64465.0323 65754.3329 67069.4196 68410.808
100378.078 102385.64 104433.352 106522.019 108652.46 110825.509
80302.4624 81908.5116 83546.6818 85217.6155 86921.9678 88660.4071
20075.6156 20477.1279 20886.6705 21304.4039 21730.4919 22165.1018
10037.8078 10238.564 10443.3352 10652.2019 10865.246 11082.5509
10037.8078 10238.564 10443.3352 10652.2019 10865.246 11082.5509
1333.33333 1333.33333 1333.33333 1333.33333 1333.33333 1333.33333
8704.47446 8905.23062 9110.0019 9318.8686 9531.91264 9749.21756
2611.34234 2671.56919 2733.00057 2795.66058 2859.57379 2924.76527
6093.13212 6233.66143 6377.00133 6523.20802 6672.33885 6824.45229
3655.87927 3740.19686 3826.2008 3913.92481 4003.40331 4094.67138
2437.25285 2493.46457 2550.80053 2609.28321 2668.93554 2729.78092

-741.00 -741.00 -741.00 -741.00 -741.00 -741.00

0 0 0 0 0 0

8,167.47 8,307.99 8,451.33 8,597.54 8,746.67 8,898.79

 2037 2038 2039 2040 2041 2042
90.0% 90.0% 90.0% 90.0% 90.0% 90.0%
1.62 1.62 1.62 1.62 1.62 1.62
69779.0241 71174.6046 72598.0967 74050.0587 75531.0598 77041.681
113042.019 115302.859 117608.917 119961.095 122360.317 124807.523
90433.6153 92242.2876 94087.1333 95968.876 97888.2535 99846.0186
22608.4038 23060.5719 23521.7833 23992.219 24472.0634 24961.5047
11304.2019 11530.2859 11760.8917 11996.1095 12236.0317 12480.7523
11304.2019 11530.2859 11760.8917 11996.1095 12236.0317 12480.7523
1333.33333 1333.33333 1333.33333 1333.33333 1333.33333 1333.33333
9970.86858 10196.9526 10427.5583 10662.7762 10902.6984 11147.419
2991.26057 3059.08578 3128.2675 3198.83285 3270.80951 3344.2257
6979.608 7137.86683 7299.29083 7463.94332 7631.88885 7803.19329
4187.7648 4282.7201 4379.5745 4478.36599 4579.13331 4681.91598
2791.8432 2855.14673 2919.71633 2985.57733 3052.75554 3121.27732

-741.00 -741.00 -741.00 -741.00 -741.00 -741.00

0 0 0 0 0 0

9,053.94 9,212.20 9,373.62 9,538.28 9,706.22 9,877.53

 2043 2044 2045 2046 2047
90.0% 90.0% 90.0% 90.0% 90.0%
1.62 1.62 1.62 1.62 1.62
78582.5146 80154.1649 81757.2482 83392.3932 85060.2411
127303.674 129849.747 132446.742 135095.677 137797.591
101842.939 103879.798 105957.394 108076.542 110238.072
25460.7347 25969.9494 26489.3484 27019.1354 27559.5181
12730.3674 12984.9747 13244.6742 13509.5677 13779.7591
12730.3674 12984.9747 13244.6742 13509.5677 13779.7591
1333.33333 1333.33333 1333.33333 1333.33333 1333.33333
11397.034 11651.6414 11911.3409 12176.2344 12446.4257
3419.11021 3495.49242 3573.40226 3652.87031 3733.92772
7977.92383 8156.14897 8337.93862 8523.36406 8712.498
4786.7543 4893.68938 5002.76317 5114.01843 5227.4988
3191.16953 3262.45959 3335.17545 3409.34562 3484.9992

-741.00 -741.00 -741.00 -741.00 -741.00

0 0 0 0 0

10,052.26 10,230.48 10,412.27 10,597.70 10,786.83