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*Fees mentioned are exclusive of 10.3% service tax
Date
City
Fees (Individual)
Outlook
Offline
Online
29th & 30th Oct 2009
Mumbai
Rs. 24,500*
(Completed)
Investment analysis is topic that is being given added emphasis these days due to level of liquidity available in our global markets - cash chasing the 'best' markets, the 'best' products, the 'best' investment sectors, the 'next best' investment opportunity! And in order to make that call - you need valuation; and importantly an understanding of the various investment tools. This 2 day Seminar examines a wide range of equity and company valuation techniques and aims to provide you with an understanding of their practical uses, together with experience in applying them in practice.
As part of the Investment Banking Series, “Valuation Techniques at the Company Level ” is a 2-day training programme that explores the latest strategies, techniques and models that are most often used for valuation. The main purpose of this training programme is to equip the participants will tools, techniques and models that are used while valuing a company. It is designed with an intention of giving the Participants maximum exposure to examples and case studies. The program is designed to be both theory and case study based.
Day 1: The 1st day of the training program will cover the fundamentals and methodologies used for valuing a Company and intangible property. These methodologies will be supported by examples.
Day 2: The 2nd day will comprise of an interactive session wherein participants will be given a case study with Supportive Information and spreadsheet based models for projecting financial performance, valuing a company and Valuing Intangible Property. Participants will follow step by step procedures and will complete the Valuation exercise of the case study. Participants will be required to bring their Laptops.
Target Audience:
Corporate heads of Finance & M&A functions
CFOs
Aspiring Investment Bankers
CAs and Consultants
Practitioners in Private Equity and Hedge Funds
Equity Research Analysts
Portfolio Managers
Financial / Business Analysts
Limited seats for academia / students at special rates for better real-world connect
Our Training Methodology
IVCJ's programmes have a healthy balance between theory and practice, making it easier for trainees to apply new skills and knowledge back in the workplace.
What makes Executive Training at IVCJ different?
Business solutions focused: through in-depth research and development at all levels in the market IVCJ is able to pinpoint the development areas most important and essential to today's market professionals. Focus on equipping trainees with the tools needed to overcome personal business challenges.
Unrivalled faculty of leading experts: the IVCJ faculty is comprised of some of the leading practitioners, trainers and consultants. During its research process, IVCJ identifies and invites thought leaders in each respective topic area to become the faculty for its executive training series.
Continuous enhancement: IVCJ's course programmes are continually reviewed and enhanced in order to reflect the changes encountered in the global markets. One can be certain that all content and applications are 100% up to date and state of the art.
Limited Class Size:
Our commitment to interactive-friendly class sizes means that there are limited seats and the spaces on this course are allocated on a first come, first served basis. Therefore we strongly advise candidates to enroll early to be sure of a seat by registering online www.vcindia.com or calling our Sales Desk.
Programme Schedule: (Day 1)
Date
Session
Topic
Faculty
09:00 AM
Session 1
Fundamentals of Valuation and key concepts
Fundamentals of valuation Relative Valuation using Multiple (PE, PEG, Price/Book, EV/EBIT, EV/EBIDTA, Industry specific multiple, Transaction Multiple) Assets based Valuation Replacement Value Liquidation Value Examples
Mark Silgardo -
Senior managing Partner - IL&FS Investment Managers
11:00 AM
Tea and Coffee Break
11:30 AM
Session 2
Preparing forecasts of a company's future performance
Key ratios and other devices for preparing forecasts Forecasting sales and other income statement items Forecasting the balance sheet Deriving the cash flow statement from the income statement and balance sheet Examples
Amit Jain - Associate Director - Ernst and Young
01:00 PM
Lunch
02:00 PM
Session 3
Introduction to DCF Method
Importance of DCF Determining Cost of Debt
(Redeemable, Irredeemable, Convertible debt) Determining Cost of equity
(CAPM, APM) Determining Cost of Capital Key concepts (ROIC, Growth rate)
Tejas Marfatia - Manager - Deloitte
02:30 PM
Session 4
DCF Method of valuation
The importance of a forecast period
and how to decide it Determining Free cash Flow Determining Terminal Value Determining Enterprise value Adjusted Present Value (APV) methods Dividend Discount Model Examples
Tejas Marfatia - Manager - Deloitte
04:00 PM
Tea and Coffee Break
04:30 PM
Session 5
Valuing Intangible Assets
What are Intangibles Why are they important Approaches for Valuing Intangibles Valuing intangibles (Brand Name, Trade Mark, IPR) Examples
Nandita Pai - Director - Deloitte
06:00 PM
Closing Day 1
Programme Schedule: (Day 2)
Date
Session
Topic
Faculty
09:00 AM
Session 1
Choosing the right Valuation Techniques
Purpose of Valuation Relevance of Valuation Methods Importance of each Valuation technique
Parag Baduni - Associate Director - IL&FS Investment Managers
In these session all the participants will be given a practical case study of XYZ Pvt. Ltd. Detail of the Company like past performance (e.g. balance sheet, profit and loss and cash flow
statement), a standard excel model, industry data and other required information will be provided. All the participant will forecast companies future performance with the given set
of information on the excel sheet.
Madhurima Das, Associate Director - PricewaterhouseCoopers
11:00 AM
Tea and Coffee Break
11:30 AM
Session 3
Valuing the Company using DCF (Practical)
All the Participant will have to
determine Free cash Flow and terminal value for the XYZ Pvt. Ltd. Valuation of XYZ Pvt. Ltd. using DCF
Ravishu Shah - PricewaterhouseCoopers
01:00 PM
Lunch
02:00 PM
Session 4
Valuing the Company using Other Models (Practical)
All the participant will value XYZ Pvt.
Ltd. using other valuation approach like Relative Valuation; Assets based Valuation, Replacement Value, and Liquidation Value.
Mihir Gada
Associate Director
Ernst and Young
03:00 PM
Tea and Coffee Break
03:30 PM
Session 5
Valuing Intangible Assets (Practical)
In this sessions all the participant will be given a practical case study of ABC Pvt. Ltd. and they will Value Intellectual Property, Trade mark, IPR and Brand.
Nandita Pai - Director - Deloitte
05:00 PM
Closing
About the Faculties
Mr. Mark Silgardo,
Senior Managing Partner IL&FS Investment Managers
Mr. Silgardo is Senior Managing Partner at IIML and has over 25 years of experience across the financial services industry. He has handled M&A, domestic and cross border equity and debt issuances and privatisation transactions. Mr. Silgardo has worked on the corporate banking side of two multinational banks, namely Banque Nationale de Paris and ANZ Grindlays for over 10 years and subsequently headed Kotak Mahindra Capital Company, one of the largest domestic investment banks in India. Thereafter, as Managing Director, Corporate Finance of ABN Amro and then PriceWaterhouse Coopers, he led M&A transactions with deal sizes ranging from US$ 25 million to US$ 500 million across sectors as diverse as telecommunications, media, fast moving consumer goods, and oil & gas. Prior to joining IIML, Mr. Silgardo set up the Investment Banking division of IndusInd Bank, one of the premier private sector banks in India. He was also involved in M&A and fund raising strategy and execution for various Hinduja group companies spanning the telecommunications, media, ITES, real estate and pharmaceutical sectors, as well as in the structuring and development of a proposed fund management business.
Mr. Silgardo holds an MBA in International Finance from University of Rochester, New York. Mr. Silgardo did his post graduate studies in Marketing from IIM Ahmedabad.
Mr. Mihir Gada,
Associate Director
Ernst & Young
He is a Chartered Accountant and has also completed his Masters in Management Studies under the aegis of Mumbai University. He has 8 years of work experience. Mr. Gada has expertise and experience in companies undertake, mergers, acquisition, restructuring and in raising private equity funds and debt funds. He has conducted the valuation of various companies spread across various sectors such as financial services, infrastructure, real estate, metals, mining, healthcare, media and entertainment, IT/ITES, telecom, consumer goods and so on. Mihir has also assisted Government of India in pursuing and completing divestments.
Mr. Amit Jain Associate Director Ernst and Young
At E&Y, Mr. Jain is responsible for identifying transaction opportunities, overseeing execution, end-to-end client management throughout the transaction and proactive management of the engagement from the firm's perspective. His areas of expertise include transaction advisory, financial analysis, credit analysis, business model reviews, project appraisal, fund raising and advanced integrated financial modeling. Prior to this, he was associated with ICICI Bank where he was responsible for identifying project finance opportunities, concluding project appraisal, due diligence, syndication and proactively monitoring existing assets. He was also associated with SBI Capital Markets Limited, where he was associated with various assignments including investment appraisals, capital raising and financial restructuring transactions across different industries, including liquefied petroleum gas, cables, oil exploration and so on.
Mr. Jain holds an MBA from IIM Lucknow and B.Tech from IIT Kharagpur.
Nandita Pai Director – Valuations & Intangible Valuations,
Purchase Price Allocations,
Deloitte Touche Tohmatsu India Private Limited
Nandita is a qualified Chartered Accountant and a Cost Accountant. During her 14 years professional experience with the firm, she has developed expertise in a wide variety of industries and transactions. She has developed special expertise in merger valuations and has been associated with valuations in the banking, THL, insurance, finance, telecommunications, pharmaceutical, agrochemicals, IT and ITES etc. industries.
Nandita leads the practice of valuation of intangibles, purchase price allocation and other valuations under US GAAP and IFRS.
Mr. Tejas Marfatia Manager
Deloitte Touche Tohmatsu India Private Limited
Tejas Marfatia is a Chartered Accountant and also holds a Post Graduate Diploma in Business Management in Finance.
Tejas has been with Deloitte in India for over 5 years working across the Assurance and the Financial Advisory practices. In his association with the valuations services of Deloitte India, Tejas has successfully assisted and lead in various engagements spanning valuation of shares, businesses and intangibles for mergers and acquisitions, restructuring and regulatory purposes and for a variety of sectors spanning manufacturing, power, infrastructure, hospitality, retail, financial services and TMT. Tejas has served a broad repertoire of listed and unlisted clients including the Tata group, Reliance group, ICICI Bank group, Essar group, Siemens group, Cummins, Deutsche Bank, Kotak Mahindra Bank, Bank of America, etc.
Mr. Parag Baduni Associate Director
IL&FS Investment Managers
Mr. Baduni joined the IL&FS Group in 1999 and has 13 years of experience in project finance and investments, including positions responsible for project appraisal, financial structuring and strategic planning. As part of the investment team for the infrastructure vertical at IL&FS Investment Managers Limited, Mr. Baduni has participated in investments relating to municipal gas distribution networks, container freight handling, waste management, roads, construction and maritime infrastructure. Mr. Baduni is a rank holder Electronics Graduate from the University of Delhi and has done his MBA on scholarship from the Government of India
Madhurima Das Associate Director
PricewaterhouseCoopers
Madhurima Das is an associate director in the Financial Advisory Service practice of PricewaterhouseCoopers India. She has over 14 years of experience and has worked with many large Indian and multinational clients across various industries.
She has also worked on several transactions that have included advising Indian companies and Multinational companies on value analysis, acquisitions/divestitures and restructuring. She has conducted value analysis for companies involved in internal restructuring, mergers and acquisitions, purchase price allocations, intangible valuations, etc. Her breadth of experience includes industries such as media, information technology, telecom, engineering, consumer and industrial products.
Madhurima has completed her MBA from the Indian Institute of Management (IIM), Bangalore.
Mr. Ravishu Shah Sr. Manager PricewaterhouseCoopers
Ravishu Shah is a senior manager in PwC's Transaction Services Group in Mumbai and has been with PwC for over nine years. He is a graduate in commerce and is an associate member of the Institute of Chartered Accountants of India since 1996. He is also a member of Association of Certified International Investment Analysts and Institute of Chartered Financial Analysts of India. Ravishu focuses in the areas of mergers and acquisitions including business and equity valuations, accounting and financial due diligence and transaction advisory for strategic and financial investors. His breadth of industry experience includes financial services, cement and power and information technology.
Prior to joining PwC, Ravishu was working in the project finance section of the Associated Cement Companies Limited (‘ACC') which is one of the largest cement manufacturing companies in India.
*Disclaimer:
Any changes in speakers or modifications of the programme shall not constitute reasons for a refund or cancellation.
The faculties from our Knowledge Partners may vary from city to city.
Fundamentals of valuation 
