A company’s valuation in the market depends on the prevailing business and economic indicators and is determined by professional valuers with critical insight, and in-depth knowledge of valuation techniques and methodologies. 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.
Valuing Valuation: What makes it attractive?
The workshop will incorporate the case study method, wherein case studies of real-life corporations will form an integral part of the sessions and illustrate how valuation methods have influenced their business strategy. Besides, hands-on exercises will give participants the opportunity to demonstrate their understanding of techniques through presentations and discussions. Delegates will actively take part in the workshop and make all calculations individually, guided by experts.
Why must you attend?
The fundamentals of approaches to valuation, coupled with limitations and caveats on the use of each, as well as extended examples of the application of each will help you make informed business decisions.
Participants will learn to:
- Carry out the Valuation Process
- Value a firm using multiples and comparable firms
- Analyze and critique the use of multiples in valuation
- Value “problem” firms, such as financially troubled firms and startup firms
- Estimate the effect of restructuring on the valuation of a firm
Who should attend?
This is a serious workshop created for ambitious executives and seasoned practitioners who are looking to enhance their skills so that they can create and maintain a thriving practice. The mix of basic valuation techniques and applications offered in this workshop will appeal to a diverse audience. In particular, it is useful for:
• Equity research professionals
• Corporate financial officers
• GM/VP/AVP/Manager (M&A)
• Portfolio managers-corporate restructuring
• Commercial and investment bankers
• Securities analysts
• Investment officers
• Corporate treasurers
Day 1
Session 1: Business Valuation - An important driver of business decisions in the current business/regulatory context
• Typical process followed for valuation projects
• Understanding company valuation situations
• How to read, interpret and understand a valuation report
• Valuation from financials: where accounts could mislead
• Common mistakes found in valuation reports
Session 2: Valuation - A perspective
• Generally adopted approaches and methods for valuation including multiples (PE, EV/EBITDA, PEG, NAV etc.), DCF method, and dividend discount and their application
• Practical challenges in valuation of business/companies
• Identification of key inputs and putting the value of key inputs in the DCF Valuation Model
• Forecasting cash flows
Session 3: Intangible Asset Valuation
• Introduction to intangible assets
• Commonly valued intangible assets - brands, patents, customer relationships, others
• Methods of valuing common intangible assets
• Case studies: practical elements of intangible asset valuation
Day 2
Session 1: Relative Valuation
• The principles
• Techniques of relative valuation
• Why relative valuation is more favoured in application
• Industry specific applications of relative valuation
Session 2: Valuation for Accounting purposes (IFRS / USGAAP)
• What is ‘Fair Value’?
• Recent developments - Fair Value Convergence
• Fair Value in a company’s life cycle
• Companies Act 2013 - valuation considerations
Session 3: Valuation for Mergers & Acquisitions
• Mergers & Acquisition- Situations and Valuation
• Minority v/s Controlling interest
• Snapshot of Indian Laws impacting M&A
• Companies Act- Valuation Requirements
Case study focused on ecommerce company
Session 4: Learning from experiences
• Case study focused on Valuation of Startup / Early stage
• Case study focused on Valuation of Growth phase
• Case study focused on Valuation of Matured companies
• Case study focused on Valuation of Distressed Companies/ Winding up phase
VCC Events opens up the avenues for participation. Join hands to be a part of India’s largest gathering of alternative investments leaders, industry stakeholders and Asia’s influential limited partners, general partners and marquee advisors. Your chance to actively participate and augment yourself as thought leaders.
The Lalit, Mumbai
The Lalit Hotel Mumbai
Sahar Airport Road, Andheri East, Opp. Hotel Leela, Mumbai, Maharashtra 400059
Drop us a line and we will call you.
