Financial Modeling in Delhi
Our Financial Modeling and Investment Banking program is a product that resulted out of an inherent market need.
Students across the globe pass out from academia and enter the corporate world, but lack practical knowledge leaving a gap between what they have and what the finance world wants.
Our course is aimed at filling this gap and equipping you with practical knowledge. In addition the course offers a robust foundation required for clearing interviews and performing well in your job.
The 6 weeks long full-time course is very comprehensive and one of the most premier courses available in current times.
We take pride in assuring you an entry into the capital markets.
Our course will enable you to make a difference in the finance world, wherein you can contribute using knowledge and skills that you will acquire during the course of our premier program.
As investment banks do with their clients, we also charge our students with a two tier fees model – one time sum at the time of engagement and the rest linked with your performance.
- 40% fee at the time of enrollment for the workshop
- A substantial, 60% on placement
We have an array of successful transformation stories of budding finance aspirants turning into triumphant industry participants in capital markets at positions of strategic consultants, finance advisers and investment bankers.
Our 6 weeks long Financial Modeling and Investment Banking Training is intended to equip delegates with a thorough understanding of capital markets, equity research, techniques of investment banking and various financial modeling skills.
Devised by industry experts with years of industry experience, the course enables our students in connecting the dots between their theoretical learning during formal education and the actual application of those learnt concepts on their jobs.
Financial modeling course structure*
Week 1: MS- Excel, Financial Statements, Ratios, Relative Valuation
Week 2: Financial Modeling, DCF Valuation
Week 3: Merger Model, Valuation of a company going public (IPO)
Week 4: Capital Budgeting (project feasibility, decision modeling), DDM Modeling
Week 5: Company profiles, Pitch Books, Valuation prospects – IPOs, M&As, PE
Week 6: IPO pitch book, project feasibility case studies, revision
* Assessments – written tests and mock interviews are integral part of training and happen every week.
Financial modeling investment banking training detailed contents
1. MS Office
As a financial analyst, you would not be devoting all of your time in creating and developing financial models in Excel, rather a sizable amount of your time will be spent on crunching large amounts of data, preparing tables & charts, and creating presentations.
Employees across functions in an organization, whether it be HR, Marketing or Finance, use PowerPoint, Word and Excel day in and day out, and we will train you on using all these important tools and best practices effectively.
The course concentrates on providing an in-depth learning of the fundamental concepts of Excel so that you can truly and fully leverage the potential capabilities of Excel.
It is essential for you to first get a solid grip of basics In Excel before learning advanced functions so as to effectively deal with large sets of data and creating models.
These basics include linking worksheets/tabs, formatting, functions, financial formulae and navigation across sheets and files.
- Mathematical functions: SUM, MAX, AVERAGE, MEDIAN, MIN
- Financial functions: PV, FV, RATE, NPV, IRR
- Logic Functions: IF, nested IF, CHOOSE, AND, OR
- Formatting: fills, copy formulas, paste special
- What If Analysis: Goal Seek, Scenario Manager, Data Table
- Sorting Data (By Values, By Cell Color, By Font Color, By Cell Icons)
- Summarizing Data with Pivot Tables by changing value field settings, using pivot option and pivot charts
- Protecting and Sharing as protecting cells, worksheets, workbook
Here the focus is on utilizing Microsoft Excel for efficiently and effectively analyzing the available data.
In order to save time and improve productivity at work, you will need to learn advanced functions that will enable you to simplify and uncomplicated your work and produce excellent results.
- Offset Functions, Match Function
- Multiple and Indirect Functions (VLOOKUP+If, VLOOKUP+Match, Index+Match, Multiple Ifs, Data Cleaning, Arrays)
- 1-2-3 way sensitivity analysis
- Iterative calculations
- Statistical functions as Correlation, Regression
2. Finance foundations
The backbone of financial analysis is the basic concepts of finance that you need to learn.
It is utmost essential for you to have a robust understanding of core tools used in financial and valuation analysis.
The focus should be on integrating the understanding of various financial statements.
We not only answer the simple questions of “What needs to be done” but also provide seldom answers of “How it needs to be done” and more importantly “Why it needs to be done”.
- Income Statement, Balance Sheet, Cash Flow Statement defined and importance explained
- Relationship between the Income Statement and Cash Flow Statement
- Understand how financial statements are inter-related
- Overview and explanation of major financial ratios, including liquidity, asset management, debt management, profitability, and market value ratios
- DuPont RoE, Breakup of RoIC (RoIC tree)
- Break Even Point, Margin of Safety
3. Capital budgeting
Capital budgeting is usually the mainframe for determining the financial feasibility and taking financial decisions for any project.
The decision to start or not start a project is influenced by the economic viability arrived from analyzing numbers.
We educate you on this by offering the following:
- Recognize the advantages of using Net Present Value (NPV) versus Internal Rate of Return (IRR) to calculate the value of a project
- Learn to calculate, XIRR, MIRR, make dynamic model with multiple options using scenario manager
- Determine the value of projects that have different life spans using different approaches
- Recognize the formulas for the after-tax Weighted Average Cost of Capital (WACC) and Capital Asset Pricing Model (CAPM) and how they are used to determine the cost of capital
- Identify the formulas for calculating cash flows resulting from investments and how they are used to determine the profitability of a project
4. Trading comparables
Among various valuation methodologies, Trading Comps Analysis (analysis of selected companies traded publicly) is one of the most commonly and widely used ones.
It is also one of the core skill sets of finance professionals and investment bankers that they use for valuation.
By building a thorough and detailed trading comp analysis, you can correctly create a relative valuation analysis and normalize financials for restructuring and non-recurring charges, and extraordinary items.
- Learn the steps required to construct a trading comps analysis (Enterprise Value, Latest Twelve Months, Cleaning Reported Financials, Calculate & Benchmark Multiple)
- Impact of Convertible Securities – Options, Warrants, RSUs, Convertible Bonds, Convertible Pref. Share
- Why Non Controlling Interest is added in calculation of EV? How do we find market value of Non Controlling Interest?
- Proper Treatment of Operating and Capital Leases
- Different Types of Multiples – EV multiples vs. Equity Multiples
A proper trading comps analysis helps you understand:
- How does the target company fit into the comparable universe?
- How to allocate enterprise value between holding and subsidiary companies?
- What type of multiple is most appropriate to value the target?
- Should we value the target company at a premium or a discount to the comparable universe?
- Why would one company command a higher or lower premium than its direct competitor?
- What multiple range should be applied to the target?
- WACC Impact on Multiples
5. Transaction / deal comparables
One of the variants of comparable valuation is Transaction/deal comps analysis (analysis of selected acquisitions).
By calculating the value of recently happened comparable deals you can derive the value of a firm.
Much like trading comps analysis, building a deal comps analysis but by using transactional data from acquisition context is important.
- Learn the steps required to construct a deal comps analysis (Enterprise Value, Latest Twelve Months, Cleaning Reported Financials, Calculate & Benchmark Multiple)
- Calculate transaction value (purchase price), premiums and multiples in past deals
- Difference between transaction value and enterprise value
- Difference between Trading Multiples and Deal Multiples
- When to apply Deal Multiples or Trading Multiples for Valuation
6. Merger modeling
Any Mergers and Acquisitions (M&A) transaction’s impact on the future performance of the acquirer company is decided by using Merger modeling and is quite critical in nature.
Once the valuation of an entity is done, and the profits/cash flows of a company are modeled, various decisions on company’s strategic alternatives have to be taken, including a merger or an acquisition.
The course offers a sound knowledge required for understanding, analyzing and structuring mergers and acquisitions.
- Merger consequence analysis including accretion / dilution and financial implications of a deal
- Discussion of key components with financial impact on transactions
- Detailed explanation and analysis of line-by-line construction of accretion / dilution model
- Factoring the synergy impact on future earnings performance of acquirer
- Analysis of break even PE for both 100% stock and 100% cash considerations
- Contribution analysis and its relevant in the analytical process
7. Advanced financial & valuation modeling
To be able to perform the required financial analysis, one must master the fundamental concept of financial modeling by taking the core and basic concepts to the next level.
We dig deep into creating stout and integrated financial models, by the use of subjective inputs and footnotes, making sure the results generated by our models are accurate and the analysis is meaningful and correct.
Our course will enable you to develop defined depreciation schedules, in-depth break up of revenue segments, Discounted Cash Flow (DCF) valuation models, and football field summary valuation and reference ranges.
- Projection of revenue for the company based upon key revenue drivers
- Projection of complete income statement of the company
- Projection of cash flow statement by building each component of cash flow statement
- Balance the model using the debt schedule and debt sweep logic (important in terms of balancing the model)
- How does the revolver facility actually balance the model?
- How are the financial statements integrated using the Interest schedule?
- What are circular references, why should they be avoided and how to get around circular references
- Estimate un-levered free cash flow (free cash flow to firm)
- Different ways to calculate the terminal value and their implications on value
- EBITDA multiple and perpetuity growth approaches and their inherent limitations
- Weighted average cost of capital (WACC) analysis that supports the DCF- Calculation of Risk Free Rate (using risk free rate of other country and adjusting it)- Calculation of Beta and adjusting it for liquidity, size premium etc- Impact of Leverage on Beta of the company and how to adjust that impact by un-levering and re-levering the Beta- Calculation of ERP (using predictive model, spread rate, country risk etc)- Calculation of WACC in absence of required data or reliable data
- Building different scenarios in the model to see impact on final DCF valuation – base case, best case and doom case scenarios
- Build and analyze reference range and football field to summarize overall valuation metrics
8. Company Profiles
Company profiles are a basic overview and description of any company that is being analyzed.
These profiles offer the most fundamental yet important aspects and facets of a company.
Get a prima facie outline and detailed explanation of the important components of a company profile, of both private and publically traded companies.
- Summary business description, segmental breakup
- Stock price charts, ownership analysis,
- Financial summary, Competitive Benchmarking
- SWOT Analysis
- Historical evolution, management and Board of Directors (BoD) biographies
9. Pitch books
As an analyst, you are expected to spend a fair bit of your time at investment banks preparing pitch books (IPO, buy side, sell side etc.).
A pitch book entails a carefully arranged analysis of a current and/or potential client’s investment considerations.
The pitch book’s structure is dynamic in nature and keeps changing depending on the transaction requirements.
A pitch book needs to be prepared keeping in mind the end objective of its creation.
Following are a few key learnings that you would secure from this process:
- What’s the use of various models you prepared in previous classes
- What’s the flow of transactions
- What’s role of investment banker in execution of transactions
Some of important sections of pitch books are (though it varies case to case)
- Process of whole transaction
- Analysis of company from perspective of buy side, sell side, IPO etc.
- Industry analysis (Industry landscape, key industry trends, operation benchmarking, valuation benchmarking etc.)
- Valuation aspects
Financial Modeling Courses Training Institute in India Testimonials
Sahil (Joined Amba Research)
“Everybody says that Slow and Steady Wins the Race. But what I have experienced from my life is that, slow and steady may not always make you win the race but the approach definitely helps you to reach your destination. Coming from a small town ‘Ludhiana’ I did not know anything about investment banking. But now, I am working with Amba Research, One of the top KPOs in India, all because of this program. I am really thankful to my mentors here.”
Tushar, (Joined Copal Partners, a Moody’s Group Entity)
“I undertook the 6 week intensive training program on Valuation from Delhi office in India and I am thoroughly impressed. The structure of the program helps novice in the domain of I-banking ramp up gradually and methodically. Coming out of this program I feel very confident about roles and responsibilities of an I-bank equity market analyst. I must give full credit to the faculty for being very patient, thorough and knowledgeable. My skills-set ranging from working in Excel spreadsheet to PowerPoint and from understanding the financial statements of a company to complicated and complex DCF has improved drastically since I joined the 6 weeks program. I would strongly recommend this to anyone who wants to make a transition into I-banking or is looking for a job as a fresher.”
Ayush, (Joined E&Y)
“Hats off is just a small word for this absolutely brilliant course.These six weeks were like an ocean of knowledge and it was absolutely fantastic the way it was conducted. For guys who do not want to restrict themselves to a particular line and need a breakthrough into a very dynamic profile- this course can just do that.Thank you so much guys for giving me what I would like to do for the rest of my life. Absolutely brilliant and very much of a learning experience.Thanks once again”
Yash, (Joined Cians Analytics)
“A risky dream well converted into reality. Thanks to FinanceWalk for shaping my dream to become Investment Banker. It was an awesome experience and each and every day at FinanceWalk was worth it. I wish all the very best & good luck to team FinanceWalk. Special Thanks to both the faculties for becoming my Mentor and guiding me.”
CA. Aarti, (Joined Analec Securities)
“Thank you team for giving a kick start to my career in Investment Banking. This wouldn’t have been possible without your efforts and the training provided by you. A highly informative course and a great team of mentors.”
Mohammad Yasin Hamdard, Middle East
“Firstly, I would like to thank you very much for your excellent and fantastic courses and programs you are holding for Indian people to support them for their future career and also for those who join the program from overseas. and it is really appreciated that the content of the program and it’s method of holding the training is really in high level and useful for the trainees.
Secondly, I myself learnt lots of new things and got the concept of financial modeling and evaluation as a whole and in general it was new for me and tough, but by struggle and practice I will be able to handle this kind of issue in the future. This program made it easy for me that how to project and evaluate and compare the companies and especially the first two weeks of Excel related sessions were really excellent and useful for me and before this actually we had lots of problems with Excel and cannot handle some of our organization’s day to day activities related to Excel easily and we did them by lengthy way which took lots of our time and now we are able to do them easily with much more less time. And by time hope that I can do something for my country and organization in the future.
Thanks again for your great support and behavior that you had with us during these few weeks. And I hope to be in touch in the future for any other program. Also If our organization needs any advisory or training in the future you will be our first option and priority, because by comparing with other financial and advisory institutes which I had seen before, I found you as a high level institute in accounts and finance and in case of needs I will inform you and hope you to accept our requests and support us.”