Whether it’s managing a portfolio, preparing for an imminent merger or acquisition, or marveling over the newest dollar figure attached to a tech wunderkind, valuation is the key to parsing and understanding the numbers.

Taught by Dr Bala G. Dharan, one of the leaders in the field, the overall goal of this 2-day workshop is to help finance executives, accountants, financial consultants, and investors learn applied business valuation techniques and practices that are needed to successfully implement valuation concepts in practice. Dr. Dharan will address real-world application techniques and implementation issues for key valuation steps, including cash flow forecasting, cost of capital and terminal value, and for emerging valuation areas such as start-up, tech company valuation and intellectual property (IP) valuation. Emphasis is placed on learning valuation techniques and discussing examples of implementation from practice, including how the the post-Covid-19 economy impacts M&A, financing, and valuation.

Course Delivery

The programme will be highly interactive and sessions will include combine:

  • The material will be presented using lecture, class exercises, and case analysis
  • Active in-class learning via class discussions by participants will be emphasized.
  • Participants will also work on selected problems and cases in small groups in break-out sessions.
  • Personal Learning in which delegates consider next steps for their business

Benefits of Attending

  • Get the inside track of valuation approaches
  • Financial modeling and forecasting techniques for revenues, costs, capital expenditure, and other key financial statement items
  • Cost of capital and terminal value determination
  • Financial modeling of cash flows for start-up companies
  • Using value multipliers and comparable transactions
  • Quality-of-earnings analysis and preparing normalized earnings for financial due diligence
  • Applied techniques for the valuation of technology companies and intellectual property
  • How the changes in the economy worldwide due to COVID-19 and central banks’ actions to pump in capital affect valuation, including cash flow forecasts, and cost of capital
  • Relative usefulness of some valuation methods such as valuation ratios in the post-COVID-19 world

Who Should Attend?

  • Equity research professionals
  • Corporate Financial Officers
  • GM/VP/AVP/Manager M & A
  • CFOs, Treasurers and Senior Finance Executives
  • Executives of M&A Team
  • Directors of Strategic Planning
  • Commercial Bankers
  • Portfolio Managers -Corporate Restructuring
  • Fund Managers
  • Investment Bankers
  • Credit analysts at banks and other financial institutions
  • Business strategists at corporations
  • Compliance officers


Day 1

Session 1 Valuation: The Big Picture

  • Course Introduction
  • Different concepts of value
  • Overview of valuation approaches
  • Walk-through illustration of valuation approaches

Session 2 Common Valuation Approaches Used in M&A

  • Context-based valuation to identify premiums and synergy
  • Walk-through illustration of valuation with cash flows – practical techniques used
  • Changes in valuation approaches to incorporate lower post-COVID-19 interest rates

Day 2

Session 1 Forecasting Cash Flows and Financial Statements

  • Preparing for forecasting – developing baselines, identifying biases
  • Forecasting revenues and income statement
  • Forecasting capital expenditure and other investments
  • Putting it all together

Case study: Forecasting

Session 2 Cost Capital and Terminal Value

  • Sources of capital used in corporate M&A, real estate deals, and private equity deals
  • How to modify cost of equity models for the post-COVID-19 risk and discount rate changes

Case study: Cost of capital, terminal value and valuation

Day 3

Session 1 Technology Valuation Models

  • What is different and special about tech stock valuation
  • Private equity industry models for tech start-ups

Case study: Tech company valuation in a recent financing round

Session 2 Financial Analysis for Valuation

  • What is financial due diligence
  • Quality-of-earnings due diligence analysis for M&A
  • Best practices and models for identifying accounting red flags

Case study: Financial due diligence and identifying red flags

Course Concludes



Bala G. Dharan

Managing Director, Berkeley Research Group

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Individual Ticket

*Only one offer will be valid at a time. For any query, please reach us at, +91-9560888566 / +91-120-4171111

Cancellation Policy:

Refund and Substitution Policy (Differ from one programme to other, please read carefully): No refunds will be granted for cancellations made within 15 days of the workshop. Those delegates, who have confirmed and do not attend, are liable to pay the full course fee and no refunds will be granted. Cancellation fee of 50% will be applicable 30 days prior to the workshop. Cancellation fee of 25% will be applicable up to 45 days prior to the workshop. Company reserves the right to amend content, expert, policy, venue & date(s) of the workshop. Participants will be refunded the registration fee in full in case the workshop gets cancelled. In case of refunds or cancellation mentioned above - the inward and outward Forex transaction cost (s) and currency fluctuation differential will be charged while accounting for the refund. Company assumes no liability for any costs including transportation, hotel reservations or any other costs incurred by participants in the event of cancellation.

Substitution Policy:

Substitutions within a company are permitted through the workshop/training date, request must be by email to

Do you have any queries?

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