Estimation of Free Cash Flow to Equity (Usi

2014-15
Net Income

347.83

Add Depreciation and

Amortisation and other non cash charges

153.33

Less Capital Expenditure

405.17

Less Change in non cash working capital

16.74

Add New debt issues

95.20

Less debt repayment

Free Cash Flow to Equity

207.93

Cash Flow to Equity (Using

2013-14
261.63

131.65
257.99

Estimation of Free Cash Flow to Firm (Using Income State

2010-11
Net Income
Add Depreciation and
Amortisation and other non cash charges

194.58

107.25
Add Interest (1-tax rate)

30.54

Less Capital Expenditure

(76.67)

Less Change in non cash working capital

(88.27)

Free Cash Flow to Firm

167.43

Firm (Using Income Statement as an input)

2011-12

2012-13

2013-14

249.07

117.53
37.1
(181.69)
225.83
447.84

224.69

Sale
Expenses
EBIDTA
Dep
EBIT
Interest
EBT
Tax @ 40 %
Net income

100000
60,000
40,000
10,000
30,000
5000
25,000
10000
15,000

Net income
Add depreciation
Add Interest(1-t)
After tax operating cash flows

15,000
10,000
3,000
28,000

EBIT(1-T)
add dep
After tax operating cash flows

18,000
10,000
28,000

Estimation of Free Cash Flow to Firm (Using Cas

Cash from operations

Add interest (1-tax rate)
Less capital expenditure
Free cash flow to Firm

ree Cash Flow to Firm (Using Cash flow statement as an input)

2010-11

2011-12

2012-13

2013-14

Estimation of Free Cash Flow to Equity (Using Cash flow stateme

2010-11
Cash from operations
Less capital expenditure
Add debt issue
Less Debt repayment
Free cash flow To Equity

ow to Equity (Using Cash flow statement as an input)

2011-12

2012-13

2013-14