Contents-

1) Our Engagement
2) Executive Summary
3) Company Profile
4) Industry Overview
5) Valuation Methodology
6) Valuation Analysis
7) Statement of Limiting Conditions
8) Conclusion
Our Engagement-
We, Nirvan Capital Advisors (NCA) have been mandated by ____ (The
company initials) to prepare financial projections and to get a fair value
per equity share of _____. ___ proposes to raise funds.
Executive Summary-
NCA issued the valuation report. This report is
Report subject to Statement of limiting conditions contained
Summarized in the report.

Business
Activity

Fundraising
Purpose of
Valuation

Income based and Asset based approached as

Method/s of applicable
Valuation

Standard of
Value

Premise of
Value

Date of
Valuation

Appointed Date

Value
Conclusion
Company Profile-
The company was incorporated on ___. Its registered office is located at
____.

The company is engaged in ____ services. The manufacturing unit is set

up in ___. The company falls under ___ industry.

The capital structure of the company is as follows-

The directors of the company are ____. They have an experience of ___
years in the ___ sector.
Industry overview-
The companys business is ____. It forms a part of the ___ industry.

In India, the market size of the industry as on today is ____. It is expected

to grow at a CAGR of ____%.

Scope for the company-

Valuation Methods-

At NCA, we value a company as per the Income based, Asset based and
Market based valuation methods.

Income based Valuation (DCF) - Under DCF approach, the future free cash
flows of the business are discounted to the valuation date to arrive at the
present value of the cash flows of the business or capitalized using a
discount rate depending on the capital structure of the company. This
approach also takes into account the value of the business in perpetuity
by the calculation of terminal value using the exit multiple method or the
perpetuity growth method, whichever is appropriate.
Asset based Valuation (Net Assets) - Under the Asset based valuation
method, the value of the company is got by the difference between the
total assets and total liabilities.
Market Based Valuation Method The market based valuation is got by
comparison of the ___ business to similar businesses that have actually
sold.
Valuation Analysis-

Value as per Income method (followed by working and comments) as on

____
Value as per Asset method (followed by working and comments) as on
____
Value as per Market method (followed by working and comments) as on
____
Statement of Limiting Conditions

According to our calculations, we have summarized the value of ___ as

per different valuation methods in this report.
However, this business appraisal relies upon the following contingent and
limiting conditions:
1) The Income and Market valuation is based on assumptions
discussed with and data provided by the promoters and team
members of ____.
2) All information provided by ___ is thought to be accurate. However,
we offer no assurance as to its accuracy.
3) The scope of work did not include due diligence procedures. We
have not conducted a review of the actual business procedures or
audited financials.
4) NCA should not be held responsible for the achievability of
forecasts. This is because all the data is provided by ____ and the
assumptions for forecasts are assumed from the data provided and
discussions with the promoters and team of ___.
5) By this report NCA is not purporting to advice any investor or
investee companies on the prudence of the investment.
6) NCA has not undertaken the responsibility to update this report for
the events and circumstances occurring after the valuation date.
Conclusion-

Report Prepared by Nirvan Capital Advisors for _______

Darsh Doshi.