SYMBIOSIS INTERNATIONAL (DEEMED UNIVERSITY)

(Established under section 3 of the UGC Act 1956)

Re - accredited by NAAC with ‘A’ Grade
Founder: Prof. Dr. S. B. Mujumdar, M.Sc.,Ph.D. (Awarded Padma Bhushan and Padma Shri by President of India)

Course Name : Business Valuation

Course Code : TM2009
Faculty : Management
Programme Type : PG

Course Credit : 2
Course Level : 4
Sub-Committee (Specialization) : Banking & finance
Batch : 0
Learning Objectives :
a. To familiarize the role of valuation in financial reporting and economic decision making.
b. To appraise financial forecasting and different techniques used for valuation
c. Application of valuation methods in different business situations and settings
Books Book Author Publisher
Recommended :

Damodaran on Valuation Aswath Damodaran John Wiley and Sons

Course Outline : Sr. No. Topic Hours
-1 Introduction to Valuation 6
Valuation definition and applications
Valuation process
Analysis of Financial Statements and Forecasting
Revenue recognition policies and Trends, Quality of Earnings,
Unusual or Extraordinary items.
Cash Flow Analysis
Major chang
2 Concept of Return 4
Du Pont Analysis
Discount rates and its selection, Beta Estimation: Levered and
Unlevered, CAPM
Growth Analysis, Price to Earnings Ratio
3 Discounted Cash Flow Method 4
Dividend Discount Model
Gordon Growth Model: Dividend Growth, ROE Analysis , Earnings
Growth, Estimating required rate of return, Single to Three Stage
Dividend Discount Model
Free Cash Flow to Firm [FCFF] and Free Cash Flow t
4 Relative Valuation 4
Price Multiples
Enterprise value multiples
Market multiples calculation and interpretation
5 Valuation of Intangibles: 4
Nature and Classification of Intangibles: Copyright, Brand and
Intellectual Property Rights
Purpose and Valuation Approaches
6 Situation Specific Valuations 4
Valuation of Private Businesses , Small Firms, Cyclical Firms
Distressed Asset Valuation

Page: 1
 7 Regulatory Considerations in Valuations 4
The Companies Act, 2013 ?
Chapter IV - Share Capital and Debentures
Chapter XV - Compromises, Arrangements and Amalgamations
Chapter XVII- Registered Valuers
Chapter XX -Winding Up
The Insolvency and Bankruptc
Pre Requisites :
Accounting Fundamentals, Concepts of Financial Management
Evaluation :
Case Analysis
Quiz
Class test
Project
Assignment
case studies
Pedagogy :
1. Classroom sessions
2. Lectures
3. Cases
4. Newspaper clippings, articles, research papers
5. Excel Modeling

Expert :
Dr. Deepa Pillai,Associate Professor,SSBF