If you are provided financials for a company with FY end in March, would you just build the 10 year projection as you normally would and then just use a discount factor to adjust for March year end? And what discount factor would we use ?

It's all relative. You can just assume a valuation date as of 3/31/20 and do the discounting normally (ie first projection period would have a timing factor of 1), or you can assume a valuation date as of 6/30/2020 and then adjust the timing accordingly. At 6/30/2020, you would have three fiscal quarters left of the fiscal year, if you're doing mid-year convention then your exponential timing factor would be (0.75/2). After that, you just keep on adding a full year to the remaining periods, so your second projection year would be (1/(1+discount rate))^((0.75/2)+1)

DCF for a company with FY end in March

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DCF for a company with FY end in March

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