Knowing the value of an asset and
its key determinants is a prerequisite for intelligent decision making in all
aspects of business, right from choosing investments for a portfolio to deciding on
the appropriate price to pay or receive in a takeover. Such expertise is extremely
valuable in finalising investments as well as making financing and dividend choices
while running a business. We can make reasonable estimates of value for most
assets, and the same fundamental principles determine the values of all types of
assets, real as well as financial.
This introduction to Business Valuation offers insights into the valuation process
and outlines the role it plays in portfolio management, acquisition analysis and
corporate finance. In finance, valuation analysis is required for tax assessment,
business analysis, and basic bookkeeping and accounting, among other things.
During the two-day workshop, all sessions will offer highly technical content with
workshops catering to all levels of experience. The workshop aims to offer
professionals comprehensive knowledge about valuing companies and businesses.
We are looking forward to your participation!
• To understand process of Valuation
• Understanding the difference between Conventional and Unconventional way of funding
• Role of Valuation in different forms of deal transactions
• Valuation Myths and Realities
• Analysis of Business Valuation reports
• CFOs and Finance Controllers
• Country Manager & Managing Director
• Professionals incharge of Investment and M&A
• Investment Bankers
• Corporate Strategy professionals
Rajesh Khairajani - Partner, KNAV
Rajesh Khairajani is well recognized in the field of valuation and selected amongst the ‘best under 40’ valuation specialists by the NACVA USA. His specialty includes performing Financial Reporting Valuations under US GAAP, IFRS and IND AS and conducting Financial Due Diligence for cross border M&A.
He is the Lead Valuation Partner at KNAV.
Rajesh is an Accredited Senior Appraiser, an Indian Chartered Accountant, a US Certified Public Accountant and holds the Accredited in Business Valuation credential (ABV) from the AICPA, USA
Kapil Bellubi -
Consulting professional with over 8 years of experience in valuations across asset classes, early stage businesses, complex financial instruments and large corporate restructurings. Quantitative problem solver with experience in business plan & strategy development, bid advisory and financial modelling. High creative quotient with the ability to think out-of-the-box and experience in the conceptualization, content and design of pioneering thought leadership.
Vikas Suresh -
Unithos Business Advisors Private Limited
Vikas has around 19 years of experience in Corporate advisory and valuations across diverse industries. His stints include strategic advisory at Ernst & Young India Private Limited, Corporate & Strategic Advisory at the Murugappa Group. Prior to joining KPMG, he has worked with Ernst & Young in their strategic advisory practice in India and was part of a leading South. India based the business house called the Murugappa Group. As part of the Murugappa Group, he was member of a core team involved in Corporate & Strategic Advisory for the Group and then anchored the European market for the engineering business of the Murugappa Group. During his consulting career, Vikas has worked across industry sectors including auto ancillary, Engineering, manufacturing, Pharmaceuticals and information technology. Vikas has extensive experience in valuations of businesses, equity and brands and has advised a wide range of clients on merger swap ratios, joint venture situations, valuation advice to boards for divestitures or acquisitions, valuations for group consolidations, regulatory valuations, valuations for business restructuring, portfolio valuations, brands and other intangibles valuation.
Vishnu Giri -
Vishnu Giri (“Vishnu”) is a Partner with PwC India’s valuation practice. Vishnu, who has over 12 years of core valuation experience, leads the practice from the Bangalore office. Vishnu has performed numerous valuations in diverse sectors such as IT/ITES, Manufacturing, Clean Tech, Automotive, Real estate, Pharmaceuticals and Life sciences, Healthcare, Retail, Infrastructure, Financial Services etc. Vishnu has extensive experience in valuation of early stage companies. Vishnu is an MBA from Indian Institute of Management, Bangalore (IIMB), one of the premier business schools in India. He is a regular speaker at industry fora and also conducts client workshops on various valuation topics. He has also authored a thought paper on equity risk premium in India, which has been published on the PwC India website.
Abhilash Menon - Associate Director - Valuations at Grant Thornton India LLP
A Valuation professional with over 8 years of experience in working on projects involving goodwill impairment analysis, Purchase price allocation, Real property and Personal property valuations.
Manish Saxena - Partner - Grant Thornton
Manish is a partner with Grant Thornton and has more than a decade of experience in the area of valuation, research and corporate finance. Manish has been involved in offering valuation consulting services for some of the large and reputed Indian companies in various sectors including IT, Telecom, Healthcare, manufacturing, financial services etc. He has significant experience in valuation of businesses, intangible assets and complex financial instruments for transactions, dispute and compliance. Manish is an MBA from MDI (Gurgaon) and a Bachelor of Engineering (Mechanical). He is also a CFA (CFA institute, USA) and FRM (GARP, USA).
Sanjeev Kumar Sawal - Director - Valuation & Modelling - Deloitte India
Sanjeev is qualified Cost Accountant (CMA) along with Engineering and Management qualification and has experience of over 29 years including with more than 13 years in the Deloitte in India. Sanjeev has an in-depth knowledge of financial modelling and has managed & handled number of assignment related to development and review of the Financial Models for various sectors viz, power, infrastructure, Real Estate, oil & gas, entertainment, specialty chemical, Construction, Hotel, Pharma etc. Sanjeev leads team of Subject Matter Experts (SMEs) who are experts in development & review of financial models and valuation of financial instruments including derivative products. Before joining Deloitte, Sanjeev worked in a State Government owned Power Utility for 16 years gaining industry experience in the Power Sector in various techno-commercial capacities with prime focus on Reforms, Financial Planning & Restructuring, Business Plan, and Accounting etc.
Ketharaju Venkat - Associate Partner - Valuations & Business Modelling at Ernst & Young
Venkat Ketharaju is an Associate Partner with Valuation, Modeling & Economics practice based in Bangalore, India He has over 20 years of work experience in various industry sectors including Automobiles, Auto components, Carbon Black, Oil & Gas, Pharma, etc. His experience includes business valuation, business analysis & planning, building & validating detailed economic models, funds planning for high risk projects, project management, negotiating Production Sharing Contracts & Joint Venture Agreements and corporate finance. He has done his BE (Industrial Engineering) & MBA (Finance) from University of Poona and he is an Associate member in ICMAI, Kolkata
Sonika Pruthi - Associate Director - Grant Thornton India LLP
Sonika holds a post graduate diploma from Narsee Monjee Institute of Management Studies, Mumbai. • Sonika has over ten years of professional experience with over 8 years in strategy consulting • During her career Sonika has worked across various sectors and has extensive experience of working with the Media and Entertainment, Real- estate, Education and Skill Development, FMCG and Alcoholic Beverages, Ecommerce, Agriculture and Allied Sectors and Financial Services • Extensive experience in delivering projects on market assessment, industry analysis, business planning, location analysis, financial modeling, go-to-market strategy, policy benchmarking, project management and investment promotion • She has worked on projects accessing the ease of business in Africa and Eurasia across all countries with FICCI and CII • She has also undertaken several Commercial Due Diligence assignments for leading private equity firms in the country.
Mr. Anand - Senior Manager – KNAV
Anand is a Senior Manager within the Financial Reporting and Valuation Services Practice at KNAV. He has over 6 years of experience in providing valuation services to Indian and US companies under USGAAP, IFRS and IndAS. His expertise include conducting purchase price allocations, goodwill impairment testing, valuation of intangible assets and business valuations. Anand is a member of the Institute of Chartered Accountants of India and a CFA Level III candidate.
His portfolio of clients include companies in Pharmaceutical, Technology, Manufacturing and service industries.
|Day 1 : Agenda|
|10:00am - 11:15am||Part 1: Forecasting
How to build a simple, yet effective financial model
Understanding the drivers of profit
|11:15am - 11:30am||Tea Break|
|11:30am - 12:45pm||Part 2: Valuing cash flow
Building the discounting framework
Considering various cash flows in that framework
Determining the right discount rate
|12:45pm - 1:45pm||Lunch Break|
|1:45pm - 3:00pm||Part 3: Using multiples to value business
Understanding multiples of sales and profit
Considering balance sheet multiples
Understanding the relationship between cash flow and multiple valuation
|3:00pm - 3:15pm||Tea break|
|3:15 - 4:30pm||Part 4: Drivers of value
Understand the four factors that enhance the value of any business
Properly presenting the value of a business
|Day 2 : Agenda|
| 1. Introduction to valuation
Purpose of valuation
Level of value
Three Valuation methods
|2. Valuation of intangible assets
Requirements for intangible asset valuation
Recognition of intangible asset
Important concepts in intangible asset values
Cost approach for intangible asset
Market approach for intangible asset
Income approach for intangible asset
|3. Valuation of Techstartups
Tech Startups – Evolution & Key Characteristics
Financing life-cycle and Value Drivers
Valuation Approaches – Venture Capital Method, Real option, Probability-weighted methods and various alternative approaches
Valuation Myths and Realities
| 4. Valuation of companies in different stages of growth
Start up / Early stage
Distressed Companies/ Winding up phase
| 5.Importance of Business Valuation
Fund raising –PE/VC
Strategic partnerships / Joint ventures
|6. Valuation from IBC perspective
Purpose and major expectations from Registered Valuer
Key challenges- pre & post appointment and post delivery
Approaches & methodologies
Current trends and developments
Registered Valuer related aspects