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IPO · M&A · PE · Project Finance · Valuation

Financial Modelling — Numbers That Drive Better Decisions

Expert-built financial models for IPO preparation, M&A transactions, PE fundraising, project finance, and strategic planning. Integrated 3-statement models, DCF, LBO, and scenario analysis — delivered in 48 hours for simple models, 5–7 days for complex transaction models.

SEBI/RBI Compliant Projections
Investor-Ready Format
Full Audit Trail
Free Consultation

Our experts respond within 2 business hours

 Rated 4.8/5  ·  10,000+ Clients  ·  No Spam
800+ Models Built
₹20,000 Cr Decisions Supported
48-Hr Express Delivery
20+ Model Types
Rated 4.8 / 5
The Modelling Imperative

A Flawed Financial Model Is the Fastest Way to Lose Investor Confidence

SEBI scrutinises IPO financial projections closely. PE investors dissect every assumption in your model. Banks stress-test project finance models before sanctioning term loans. A poorly structured model — with circular references, inconsistent assumptions, or missing scenario analysis — signals amateur management. Our models are built to withstand the toughest scrutiny.

Build Your Model
800+
Financial models built across IPO, M&A, PE, and project finance
48 hrs
Express delivery for simple models — 5–7 days for complex transaction models
₹20K Cr
Capital decisions and transactions supported by our models
100%
Models delivered with full assumptions log, scenario analysis, and audit trail

What is Financial Modelling and When Do You Need It?

A financial model is a quantitative representation of a company's historical performance, current financial position, and projected future performance. A well-built model integrates the income statement, balance sheet, and cash flow statement (the "3-statement model") into a single, dynamic tool where every assumption flows through consistently — allowing for scenario testing, valuation, and strategic decision-making.

In India, financial modelling is increasingly demanded at every stage of a company's capital journey — from seed-stage VC pitches requiring a basic revenue model, to pre-IPO 3-statement models that SEBI scrutinises as part of the DRHP, to complex project finance models for infrastructure lenders requiring detailed DSCR and IRR analysis over 20–30 year project periods.

IPO Projection Note: SEBI does not mandate financial projections in the DRHP for most IPOs. However, PE investors and anchor investors routinely request detailed 3-year or 5-year financial projections. We build these as a separate confidential document — the Investment Memorandum (IM) — alongside the DRHP, ensuring projections are realistic, achievable, and defensible under investor scrutiny.

Core Financial Model Types

  • 3-Statement Integrated Model: Income statement, balance sheet, and cash flow statement linked dynamically — the foundation of all financial analysis
  • DCF (Discounted Cash Flow): Intrinsic valuation model using projected free cash flows, terminal value, and WACC — the gold standard for M&A and PE
  • LBO (Leveraged Buyout): PE transaction model analysing returns at various leverage ratios and exit multiples — critical for buyout and PE-backed deals
  • M&A Merger Model: Pro-forma analysis of two combined companies — accretion/dilution analysis, synergy modelling, purchase price allocation
  • Project Finance Model: Detailed cash flow model for infrastructure projects — DSCR, IRR, equity IRR, debt sculpting, and sensitivity analysis over 15–30 year periods
  • Startup / VC Model: Revenue drivers, unit economics (CAC, LTV, payback period), runway analysis, and funding need — optimised for VC investor presentations
Model Delivery Timeline
Simple Revenue Model48 Hours
3-Statement Model3–5 Days
DCF Valuation Model3–5 Days
LBO / PE Model5–7 Days
M&A Merger Model5–7 Days
Project Finance Model7–10 Days
IPO Projections (5-yr)5–7 Days
FormatExcel + PDF Summary
Start Your Model
Our Services

Financial Modelling Services

Purpose-built models for every stage of your capital journey — from startup pitch to billion-rupee IPO.

IPO Financial Model & Projections

Integrated 3-statement model with 3–5 year projections for IPO preparation. Used in the DRHP management discussion, investor roadshow presentations, and anchor investor meetings.

  • Revenue driver-based projections
  • EBITDA bridge and normalisation
  • Working capital and capex scheduling
  • IPO proceeds utilisation model

DCF & Business Valuation Model

Intrinsic valuation using discounted cash flow methodology. Includes WACC calculation, terminal value estimation, sensitivity tables, and football field valuation summary — investment-bank quality output.

  • Free cash flow to firm (FCFF) projection
  • WACC / cost of capital calculation
  • Sensitivity and scenario analysis
  • Comparable company cross-check

M&A Merger Model

Pro-forma combined company model for M&A transactions. Accretion/dilution analysis, synergy quantification, purchase price allocation (PPA), and goodwill computation — essential for M&A deal committees.

  • Combined pro-forma financials
  • Synergy modelling (revenue + cost)
  • EPS accretion/dilution analysis
  • Purchase price allocation (Ind AS 103)

PE / VC Fundraising Model

Investor-ready financial model designed for PE and VC fundraising. Includes unit economics, revenue growth drivers, funding need analysis, and returns modelling for investors at various entry and exit scenarios.

  • Unit economics (CAC, LTV, payback)
  • Cohort revenue modelling
  • Funding runway and use of proceeds
  • Investor returns at exit (IRR, MoM)

Project Finance Model

Comprehensive financial model for infrastructure, energy, and real estate projects. Used by lenders (banks, NBFCs) and equity investors to assess project viability, debt serviceability, and equity returns over the full project lifecycle.

  • Construction period and operations phase modelling
  • DSCR, LLCR, and PLCR computation
  • Project IRR and equity IRR
  • Debt sculpting and drawdown schedule

Scenario & Sensitivity Analysis

Stress-testing your business model across bull, base, and bear cases. Monte Carlo simulation, data tables, and tornado charts — helping management understand the financial impact of key risks and market changes.

  • Multi-variable scenario builder
  • Sensitivity (tornado) charts
  • Monte Carlo simulation
  • Break-even and margin analysis
Our Process

How We Build Your Financial Model

A rigorous 5-step process that ensures your model is accurate, flexible, and investor-ready.

01

Scoping & Requirements

We understand the model's purpose (IPO, fundraising, M&A, internal planning), audience (SEBI, investors, banks), required outputs, and timeline. We define the structure, level of detail, and key assumptions before starting.

02

Data Collection & Historical Analysis

We collect 3–5 years of audited financials, management accounts, operational data, and industry benchmarks. Historical data is cleaned, restated to Ind AS, and analysed to identify underlying business trends and drivers.

03

Model Architecture & Build

We build the model from scratch — inputs sheet, assumptions, revenue drivers, cost structure, working capital, capex schedule, debt schedule, and integrated 3-statement output. Best-practice Excel structure: no hardcoded values, clear colour coding, full formula audit trail.

04

Scenario Analysis & Validation

We layer in scenario analysis (bull/base/bear), sensitivity tables, and stress tests. The model is cross-checked against industry benchmarks, peer companies, and management's operating experience to ensure assumptions are realistic and defensible.

05

Delivery & Model Walkthrough

We deliver the Excel model with a PDF executive summary and a live model walkthrough session with management. We explain every key assumption, identify the most sensitive drivers, and provide guidance on how to update the model as actuals come in.

Your Model Ready

A robust, investor-ready financial model — fully documented, scenario-tested, and ready for presentation to SEBI, PE investors, banks, or your board.

Start Modelling
Why It Matters

Benefits of a Professional Financial Model

A well-built model is not just a spreadsheet — it's a strategic tool that drives decisions and builds investor confidence.

Investor Credibility

A professionally structured model with clear assumptions, full audit trail, and scenario analysis signals management quality. Investors form first impressions from the model before meeting you.

Better Valuation Outcome

A credible financial model with conservative but achievable projections supports a higher valuation in PE negotiations, IPO pricing, and M&A deal negotiations.

SEBI & Banker Scrutiny

IPO bankers and SEBI examine financial projections carefully. A well-structured model with conservative assumptions reduces SEBI observation letters and banker pushback during the IPO process.

Scenario Planning

Management can use the model to plan for different market scenarios — understanding the financial impact of revenue shortfalls, cost increases, or capex delays before they happen.

Debt & Lender Confidence

Banks and NBFCs require detailed project finance or business models for credit appraisal. A professionally built model with DSCR coverage ratios and stress tests speeds up loan sanctions.

Strategic Decision Tool

Beyond fundraising, the model becomes an internal management tool — tracking actuals vs. projections monthly, identifying variance drivers, and guiding strategic resource allocation decisions.

FAQ

Frequently Asked Questions

We typically need 3–5 years of audited financial statements (P&L, balance sheet, cash flow), management accounts or MIS reports for the current year, a list of revenue streams and their drivers (volume, price, mix), major cost line items and their behaviour (fixed vs. variable), capex plans, and key operating metrics specific to your business (e.g., seats, subscribers, tonnage, bed occupancy). For project finance models, we also need the project information memorandum, EPC contract, offtake agreements, and concession documents.

A financial projection is simply a set of forward-looking numbers (revenue, profit, cash flow for future years). A financial model is the dynamic Excel tool that generates those projections — where each number links back to specific business drivers and assumptions. The model allows you to change one input (e.g., revenue growth rate) and see the cascading impact across the entire P&L, balance sheet, and cash flow. A model is infinitely more valuable than a static projection because it can be updated, stress-tested, and used for scenario analysis.

SEBI generally does not mandate forward-looking financial projections in the DRHP for most IPOs (as projections carry liability risk for management). However, the DRHP must include detailed historical financials restated under Ind AS for 3 years, plus current year numbers. Separately, we strongly recommend building a detailed 3–5 year financial model for use in: (a) investor roadshow presentations, (b) anchor investor meetings, and (c) internal management planning. This model is shared as a confidential document with qualified institutional buyers, not published in the DRHP.

A project finance model is a detailed cash flow model for a specific project (power plant, road, real estate, manufacturing facility) that treats the project as a standalone entity — separate from the promoter's balance sheet. Lenders require it because project finance debt is typically non-recourse or limited-recourse to the promoter, so the lender can only rely on project cash flows for repayment. The model must demonstrate: (a) DSCR (Debt Service Coverage Ratio) > 1.2x in all periods, (b) positive equity IRR, (c) adequate liquidity in stress scenarios, and (d) break-even revenue sensitivity. RBI guidelines and individual bank credit policies specify minimum DSCR thresholds.

Yes. Pre-revenue startup models are built on a bottoms-up basis from first principles — starting with the specific revenue drivers of your business (number of customers, conversion rates, average revenue per user, contract values, etc.) rather than applying a growth rate to existing revenue. We model the unit economics in detail: customer acquisition cost (CAC), average lifetime value (LTV), LTV:CAC ratio, payback period, and cohort-level revenue retention. The model then shows the funding runway under different revenue ramp scenarios and calculates the optimal fundraising amount for 18–24 months of runway.

We deliver all models in Microsoft Excel — no proprietary software, no lock-in. The model is built to best-practice standards: inputs clearly separated from calculations (colour-coded blue for inputs, black for formulas), no hardcoded values within formula cells, fully transparent assumptions log, and a model documentation sheet explaining every key assumption. You receive the fully unlocked Excel file plus a PDF executive summary. We also provide a live walkthrough session to ensure your team understands and can operate the model independently after delivery.
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Why Enterslice

Why Choose Enterslice for Financial Modelling?

Investment-bank quality models built by seasoned professionals who understand the Indian capital markets context.

800+ Models Built

Across IPO, M&A, PE fundraising, project finance, and strategic planning — across manufacturing, technology, FMCG, infrastructure, healthcare, and financial services sectors.

Investment Banking Pedigree

Our modelling team includes professionals trained at leading investment banks and Big 4 firms — bringing global modelling best practices to Indian SME and mid-market transactions.

End-to-End Transaction Integration

The model doesn't exist in isolation. It integrates with our valuation, due diligence, and M&A advisory work — ensuring financial model assumptions are consistent across all transaction documents.

SEBI & Ind AS Compliant

All models are built on Ind AS (Indian Accounting Standards) restated financials. IPO models comply with SEBI ICDR disclosure requirements. Project finance models meet RBI and lender credit policy standards.

Fast, Reliable Delivery

48-hour delivery for simple models. 5–7 days for complex transaction models. We understand that fundraising and transaction timelines are tight — we deliver without compromising quality.

Rated 4.8 / 5

Consistently rated 4.8 out of 5 by clients across IPO preparation, M&A, PE fundraising, and project finance engagements. Our models have supported ₹20,000+ Cr of capital decisions.

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