Summary

Learning Outcomes

• Master the steps in building an accurate financial model through hands-on exercises 
• Understand the constituents and complexities of a financial model 
• Learn how to make basic macros and break circularities 
• Learn the techniques of fundamental analysis using financial modelling 
• Build basic knowledge of sensitivity and scenario analysis 
• Understand the difference in a debt and equity model as well as to gain understanding of valuation 
  

Who should attend? 

• Professionals responsible for project appraisal from banks and financial institutions 
• Professionals from corporate finance/ projects division of corpo-rates 
• Financial Intermediaries involved in syndication of project fi-nance 
• Project finance consultants 

Prerequisites 

• Basic understanding of finance and/or project finance (should be comfortable with financial statements)
• Basic working knowledge of Excel (should be comfortable with simple excel formulae and excel menu) .

Day 1

Session 1

Introduction to financial modelling

• Understanding the objectives of financial modelling; why do we need a model? What are the constituents of a model?
• Logical flow of the model and overview of error identification
• Best practices in modelling simplicity, consistency and flexibility

Session 2

Steps in building a financial model

• Building a Business drivers/ risk framework for the project
  • Identifying and analysing Industry driversFactoring in Industry/ Economic variables
• Making the Assumption sheet
  • Structuring financial model based on the identified business drivers
• Project cost schedule and Means of finance (for both new projects and for cost overrun)
  • Understanding the need of timeline and building quarterly timeline
• Revenue and Operating Expenses statement
  • Building yearly timeline
  • Building Escalations
• Debt, depreciation, working capital, tax, schedule
• Income Statement
• Cash Flow
• Balance Sheet
• Understanding the linking of the statements

Session 3

Deciphering Financial Statements

• Basic Financial Statement review
• Income Statement: Revenue and expense items, EBITDA, PAT defined and discussed
• Balance Sheet: Assets and Liabilities
• Cash Flow: Cash Flow from Operations, Investing Activities and Financing
• Understanding how financial statements are inter-related to each other

Session 4

Project analysis

• Project evaluation.
  • Examining Cash Flows
  • Determining Leverage
  • Fundamental Analysis using financial modelling (Key ratios to look out for DSCR, ISCR, Leverage, Payback, IRR etc.)
  • Project Internal Rate of Return (IRR)
  • Net Present Value (NPV) Analysis
  • Project IRR vs Equity IRR

Day 3

Session 5

Financial modelling Best practices

Output analysis and building scenarios through a financial model

• Sensitivity Analysis and Scenario Building

Introductory Valuation

• Discounted Cash Flow (DCF) Analysis
• DCF Valuation
• Relative Valuation

Training dates - April 27-29, 2026

Training fees - ₹42,000 + applicable taxes