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WORKING:
INITIAL INVESTMENT IN PARENT CURRENCY TERMS:
Year
Currency
1996
1996
1997
E/R
45000
2250
18000
2272
1997
17800
1998
20200
Profit margin
0.25
0.25
Profit(Dom)
4450
5050
294694
337064
0.24
0.24
Sales (Int)
Profit margin
Profit(Int)
70726.56 80895.36
2670
3030
44204.1
50559.6
1780
2020
26522.46 30335.76
Tax on domestic
(25% for year 1 & 30% thereafter)
445
Tax on Intl
(15% for year 1 and 20% thereafter)
606
3978.369 6067.152
23879.091 25682.61
Transferable Dividends
(90% for first 5 years & 75% thereafter)
21491.182 23114.35
1997
1998
1999
2000
2001
2002
2003
1996
58.32
62.9856
68.024448
73.466404
79.343716
85.691213
92.546511
5.832
6.29856
6.802445
7.34664
7.934372
8.569121
9.254651
1997
1998
46874.1
53589.6
21491.182 23114.35
68365.282 76703.95
2250
2272
2295
30.090353
33.4222
14.46
15.92
137.54137 155.6706
Salvage Value (Terminal Value)
(Assumed to be In Ringy terms)
550.16549 622.6824
Initial Investment
51.45895937
-51.45895937
15.630353
-51.45895937
13.398211 12.86023
NPV
43.29983387
17.5022
In Ringy
In Million
Presnt Value
Discount
rate
20
24.67
7.92
20
24.67
17% 6.788959369
51.45895937
1999
24700
2000
30300
2001
35900
2002
40000
2003
47500
0.25
0.23
0.23
0.22
0.19
6175
6969
8257
8800
9025
391623
492757
590263
722342
823175
0.24
0.22
0.22
0.2
0.18
93989.52
108406.54
3705
4545
58743.45
73913.55
2470
2424
2872
35246.07
34492.99
41318.41
741
727.2
861.6
840
570
7049.214
6898.598
8263.682
7223.42
4939.05
29925.856
29291.192
35065.128 30853.68
21086.2
26933.2704
26362.0728
5385
6000
7125
2800
1900
36117.1 24695.25
46.7793247
52.81385759
59.62684521
67.31870825
76.00282161
85.8071856
96.87631254
4.490815171
5.070130328
5.724177141
6.462595992
7.296270875
8.237489818
9.300126004
49.339769
54.12572659
59.37592207
65.13538651
71.45351901
78.38451035
85.98780785
4.144541
4.546561
4.987577
5.471372
6.002096
6.584299
7.222976
154.4391
169.9252
187.0272
205.9205
226.8001
249.8829
275.4106
1999
2000
2001
2002
2003
14.4673558
15.9152514
17.5141994
19.2806088
21.2327381
23.39091
25.7777529
62448.45
78458.55
26933.2704 26362.0728
31558.6152 23140.26 15814.65
89381.7204 104820.6228 125483.0652 137491.6 146415.9
2218
40.29834103
17.51
2341
2364
2388
2412
19.28
21.23
23.39
25.77
22.78834103