Proposal For Working Capital Loans

Proposal by
SSE
Address1
Address2
Phone.
Proposal for Working Capital Loans

Submitted To
International Branch
Chennai 600 001.
Prepared by
SMB Enablers,
13/25, Baba Foundation,
Krishnamoorthy Street,
West Mambalam,
Chennai 600 033.
27th March, 2009.
Contact: Srikanth Gopalan,
Phone +91-44-42126588,
Mobile +91-9841204445
Email srikanth@smbenablers.com
Note
Figure estimates are pretty simple and straight forward.

o
o
o
o
Seasonality is ignored
Sale revenue is consider to be equal from Month 1
Market feasibility numbers are hypothetical.
Real life situation is much more complex than this and require
much more effort to produce a more realistic documents
User of this format is advised to add certain additional reports

and data before finalization
o Past data analysis and graphs based on historical numbers, in
case of existing companies
o You might want to add an analysis on Raw Materials and
production and process flow chart in the report, for existing
manufacturing companies. We include them.
o Normally the appraiser from bank is required to conduct
sensitivity analysis as part of the due diligence process. We
normally construct a What-If-Analysis-Table. You might want to
consider doing it.
Disclaimer: This format is intended as information to clients and

bankers so that they know what to expect of us. This may also
provide a starting point for fellow professional. There are no
express or implied guarantees relating to the effectiveness of this
format.
This material is copyrighted to SMB Enablers. You are free to
distribute this format without changing the contents. This is not
for sale.
Table of Contents
1.0 Executive Summary ..................................................................................................................... 1

Chart: Highlights ........................................................................................................................... 2
1.1 Objectives .................................................................................................................................... 2
1.2 Mission .......................................................................................................................................... 2
1.3 Keys to Success ........................................................................................................................ 2
2.0 Company Summary ..................................................................................................................... 2
2.1 Company Ownership ............................................................................................................... 3
2.2 Start-up Summary ................................................................................................................... 3
Table: Start-up .............................................................................................................................. 3
Chart: Start-up .............................................................................................................................. 4
2.3 Company Locations and Facilities ...................................................................................... 4
3.0 Products............................................................................................................................................ 4
3.1 Product Description .................................................................................................................. 5
3.2 Competitive Comparison........................................................................................................ 5
3.3 Sales Literature ......................................................................................................................... 6
3.4 Sourcing ....................................................................................................................................... 6
3.5 Technology .................................................................................................................................. 6
3.6 Future Products ......................................................................................................................... 6
4.0 Market Analysis Summary ........................................................................................................ 6
4.1 Market Segmentation .............................................................................................................. 7
Table: Market Analysis ............................................................................................................... 7
Chart: Market Analysis (Pie) .................................................................................................... 8
4.2 Target Market Segment Strategy....................................................................................... 8
4.2.1 Market Needs ..................................................................................................................... 8
4.2.2 Market Trends .................................................................................................................... 8
4.2.3 Market Growth ................................................................................................................... 8
4.3 Industry Analysis ...................................................................................................................... 8
4.3.1 Industry Participants ....................................................................................................... 9
4.3.2 Distribution Patterns ....................................................................................................... 9
4.3.3 Competition and Buying Patterns............................................................................... 9
4.3.4 Main Competitors .............................................................................................................. 9
5.0 Strategy and Implementation Summary........................................................................... 10
5.1 SWOT Analysis ......................................................................................................................... 10
5.1.1 Strengths ........................................................................................................................... 10
5.1.2 Weaknesses ...................................................................................................................... 10
5.1.3 Opportunities .................................................................................................................... 10
5.1.4 Threats ................................................................................................................................ 11
5.2 Strategy Pyramid .................................................................................................................... 11
5.3 Value Proposition .................................................................................................................... 11
5.4 Competitive Edge ................................................................................................................... 11
5.5 Marketing Strategy ................................................................................................................ 12
5.5.1 Positioning Statement................................................................................................... 12
5.5.2 Pricing Strategy ............................................................................................................... 12
5.5.3 Promotion Strategy ........................................................................................................ 12
Page 1
Table of Contents
5.5.4 Distribution Strategy ..................................................................................................... 12

5.5.5 Marketing Programs ...................................................................................................... 12
5.6 Sales Strategy.......................................................................................................................... 12
5.6.1 Sales Forecast .................................................................................................................. 13
Table: Sales Forecast ............................................................................................................ 13
Chart: Sales Monthly............................................................................................................. 14
Chart: Sales by Year ............................................................................................................. 14
5.6.2 Sales Programs ................................................................................................................ 15
5.7 Strategic Alliances .................................................................................................................. 15
5.8 Milestones .................................................................................................................................. 15
Table: Milestones ........................................................................................................................ 15
Chart: Milestones........................................................................................................................ 16
6.0 Management Summary ............................................................................................................ 16
6.1 Organizational Structure ...................................................................................................... 16
Org. Chart: Organizational Chart ......................................................................................... 16
6.2 Management Team ................................................................................................................ 16
6.3 Management Team Gaps ..................................................................................................... 16
6.4 Personnel Plan ......................................................................................................................... 17
Table: Personnel ......................................................................................................................... 17
7.0 Financial Plan ............................................................................................................................... 17
7.1 Start-up Funding ..................................................................................................................... 17
Table: Start-up Funding........................................................................................................... 17
7.2 Important Assumptions ........................................................................................................ 18
7.3 Key Financial Indicators ....................................................................................................... 18
Chart: Benchmarks .................................................................................................................... 19
7.4 Break-even Analysis .............................................................................................................. 19
Table: Break-even Analysis .................................................................................................... 19
Chart: Break-even Analysis .................................................................................................... 20
7.5 Projected Profit and Loss ..................................................................................................... 20
Table: Profit and Loss ............................................................................................................... 20
Chart: Profit Monthly ................................................................................................................. 21
Chart: Profit Yearly .................................................................................................................... 22
Chart: Gross Margin Monthly ................................................................................................. 22
Chart: Gross Margin Yearly .................................................................................................... 23
7.6 Projected Cash Flow .............................................................................................................. 23
Table: Cash Flow ........................................................................................................................ 23
Chart: Cash ................................................................................................................................... 24
7.7 Projected Balance Sheet ...................................................................................................... 24
Table: Balance Sheet ................................................................................................................ 24
7.8 Business Ratios........................................................................................................................ 25
Table: Ratios ................................................................................................................................ 25
Table: Sales Forecast .......................................................................................................................... 1
Table: Personnel ................................................................................................................................... 1
Table: Profit and Loss ......................................................................................................................... 1
Page 2
Table of Contents
Table: Cash Flow .................................................................................................................................. 1

Table: Balance Sheet .......................................................................................................................... 1
Page 3
SSE
1.0 Executive Summary
SSE was founded in the year 2008, by Mr.ABC, a reputed industrialist, hailing from a reputed
family. He is also the chairman cum Managing Director of XYZ, an animation software company
which is going to make heavy inroads in the field of school education. He, in the past has done
business in south east Asian countries and he knows the topography of the Singaporean market
very well. The company has already received trial orders and the product has been accepted
very well.
He has successfully floated another venture in the name and style, AAA Chemicalsl. Its viability
was assessed by Bank of Baroda, International Branch, Chennai 600 001 and a finance of
Rs.1500 lacs have been obtained.
The purpose of this document is to obtain a working capital loan of Rs.1200 lacs in the form of
Export Packing Credit (Rs.600 lacs) and Bill discounting against foreign letter of credit (Rs.600
lacs).
Securities for the proposed loan shall be as follows. Apart from the prime security of
hypothecation of book debts and stock, a collateral security will be given in the form
of industrial land admeasuring 1.67 cents and buildings situated on the said land
admeasuring 19526 sq ft in Ponneri. It is pertinent to note that, apart from the above,
M/s AAA Chemicals have already given collateral securities worth Rs.25 crores (duly
valued by Bank of Baroda) for a loan of Rs.15 crores.
SSE plans to export condiments, masalas and spices to Singapore, initially. Their products
would be of high quality and would be a good value for money. Initially the target is for
addressing the needs of Indian community in Singapore and the business will be expanded to
adjoining countries. In less than a year we are sure, we will grow in popularity and accounts.
The companys objectives and growth plans are given in the following pages.
Page 1
SSE
Chart: Highlights
1.1 Objectives
1.
2.
3.
4.
of
Increase sales significantly over the next three years.

Improve gross margin % over the entire product line and maintain that level.
Add products to meet market demand, again at high gross margin.
Improve inventory turnover, reduce the cost of goods sold while maintaining the high quality
the products.
1.2 Mission
SSE is being built on offering the highest quality and value in its authentic Indian Spices and
Masalas, filled with the history of the Indian Culinary Art. Time honored family recipes have
been passed down through the generations, rich with ethnic heritage. Knowledgeable
consumers abroad are looking for authentic products, filled with the best ingredients. The
foreign Indian community is crying out for a change! They wanted real down home masalas and
spices.
1.3 Keys to Success
1.
2.
3.
4.
Delivering high quality products that set themselves apart from the others in taste and value.
Providing service, support, and a better than average margin to our dealers.
Increase gross margin %.
Bring new products into the mix to increase sales volume.
2.0 Company Summary

SSE. is a new start up company business located in Anna Nagar, Chennai, and will be
established based on the details of the following plan.
Page 2
SSE
2.1 Company Ownership

SSE is a proprietary concern held by Shri.ABC, an industrialist of repute in Chennai.
2.2 Start-up Summary
The key elements in the start-up plan for the company are:
Formulation of the strategic business plan.
The establishment of a corporate identity.
The establishment of a location and place of doing business.
Funding of working capital requirements, purchases of other equipment and assets deemed
necessary for the principle operating activities of the company, and additional capital raising
alternatives.
Initiation of Research and Development of existing and future products.
Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal
Stationery etc.
Insurance
Rent
Computer
Other
Total Start-up Expenses
0.03
0.02
0.05
0.00
0.30
0.20
0.60
Start-up Assets
Cash Required
Start-up Inventory
Other Current Assets
Long-term Assets
Total Assets
2.40
1.00
6.00
0.00
9.40
Total Requirements
10.00
Page 3
SSE
Chart: Start-up
2.3 Company Locations and Facilities

Currently the company has one location in the form of an office at Anna Nagar. The company is
in the process of hiring a full fledged ware house cum office. It will be thoroughly sanitised to
food grade storage standards.
3.0 Products
The company is planning to sell the entire range of condiments and spices in Singapore for the
Indian community. A non exhaustive list of products is as follows.
Chilli Powder
Turmeric Powder
Coriander Seeds
Basmati Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Page 4
SSE
Porridge (Rice)
Snack Powder Masala
The Company is planning to sell quality and product-uniqueness in a market segment filled with
competition. The Company's approach is to take its product image up-market because of its
rich heritage and uncompromising view of product quality. This focus has enabled the company
to view the voids in the market, and add product to its line that will fill it. The company has
researched and reviewed other Indian food item organizations, tracking their successes and
positioning ourselves similarly.
SSE is planning to build a reputation for high quality and strong value in a product filled with
authentic Indian flavor. The company is planning to service its dealers just as if they were a
part of the family - and that is the unique approach to marketing its products. You are not just
a dealer; not just a consumer; you are special to us - you are family. The company would like
to go to great lengths to provide our dealers with high quality products, and the ability to make
a good margin on them.
3.1 Product Description

The company currently plans to offer the following product lines:
Chilli Powder
Turmeric Powder
Coriander Seeds
Basmati Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
All these products will be packed in accordance with quality standards set out in FPO, BIS and
other relevant standards.
3.2 Competitive Comparison

To differentiate the company from all of the others, it stresses quality and authenticity of the
ingredients, and the heritage of the family recipe.
Page 5
SSE
The company sells more than a packet with masala in it. It sells high quality ingredients,
carefully put together in a masterful blend that can't be matched in taste or true Indian ethnic
authenticity.
These are simple products that must be presented in a way that encourages the consumer to
just give the company a chance. Once they try the product, the company will have a long-term
relationship with them.
As in similar food items, the company can charge a premium for what we supply. The market
has shown it will buy our product over more readily known names because of the richness and
authentic taste of its condiments and spices.
3.3 Sales Literature

The company is currently working on a new line of brochures and sales materials to assist its
marketing, and that of its dealers.
3.4 Sourcing
The company is currently working on a new line of brochures and sales materials to assist its
marketing, and that of its dealers.
3.5 Technology
Technology per se does not have direct impact on the company since every product to be
exported will be bought out based on our specifications. The process of manufacture is not
technology driven but is dependent on ingredients selection and recipes.
3.6 Future Products
The company is currently researching the addition of an exclusive range of ready to eat
authentic Indian sweets and savories. Present product range is targeted at the entire Indian
community. However, new products require clear understanding of demographic spread and
substrata among Indians in Singapore.
4.0 Market Analysis Summary
The market for the company's products currently consists of persons of Indian origin from
among the population of Singapore, whether they are citizens, permanent residents or
temporary work permit holders. al aids. Essentially, the potential market is the nearly identical
to the Indian population in Singapore. The markets are not exactly identical, though, as we
expect there to be greater acceptance of company's products from among South Indians than
that of persons from rest of India.
A massive potential market base exists for the laser refractive surgery industry. It is estimated
that approximately 59%of the Singapore resident population (~4 laks) are from India. Added to
this is the enormous work force from Tamil Nadu, India. This figure is estimated to be at 1.35
Page 6
SSE
lacs. Extrapolating this market size can be estimated to be Rs.1800 crores of Indian
Condiments Masala and spices. This figure is likely to grow at the rate of 15% per annum.
The company has contacted quite a few leading Departmental Stores and has made a trial
supply of 1 ton of rice flour in the brand name of "Durian". The response is quite heartening.
4.1 Market Segmentation

The food industry is in a boom period. One tends to call it a boom if it is hot hit by recession.
While there are many items from various vendors available, the company has approached the
market as a Specialty Vendor: a provider of authentic high quality Indian condiments, spices
and Masala.
The Company has made significant inroads with several grocery shops and departmental stores.
It has already appointed two distributors. The company, in the foreseeable future, is looking at
developing our own store front as an adjunct to its current marketing. There is a need for a
specialty retailer catering specifically to the Indian client and to the individuals that appreciate
authentic Indian cuisine. This gives better focus than a general Indian store.
In addition to the above, the company is also looking at packaging its products for other groups
to use for fundraising events, gift baskets for corporate promotions, and the possibility of a
house restaurant to further advertise and promote the products.
Table: Market Analysis
Market Analysis
Potential Customers
Growth
Grocery Stores
Distributors
Departmental Stores
Total
10%
10%
10%
10.84%
2009
2010
2011
2012
2013
25
5
25
55
28
6
28
62
31
7
31
69
34
8
34
76
37
9
37
83
CAGR
10.30%
15.83%
10.30%
10.84%
Page 7
SSE
Chart: Market Analysis (Pie)
4.2 Target Market Segment Strategy

The Company is initially focusing on the Indian community. They will be able to appreciate
more readily the authenticity of the product. The market will observe the products they choose,
and they will indirectly become promoters of the company's products.
4.2.1 Market Needs
The market needs of the target segment are straightforward - customers want good quality
condiments masalas and spices that result in authentic Indian cuisine. Hygiene is another
important criterion.
4.2.2 Market Trends
One important trend is the one toward nucleus family set up in which. Paucity of time results in
procurement of high quality products like the ones to be offered by SSE.
4.2.3 Market Growth
The market analysis shows us a broad range of prospective clients, covering more than one
demographic group or body. The largest of these groups of customers is that of the Tamilians,
which is projected to grow at 12% per year. Overall Indian population growth is likely to be
10%.
4.3 Industry Analysis
The Indian food industry is relatively old, and its popularity is ever on the increase. The
authentic taste is not common in this industry, which gives the company a leg up on the
competition.
Page 8
SSE
In an industry currently in a steady upward growth curve, the company is poised to capitalize
on the consumer's desire for authentic, high quality, Indian cuisine.
While a troubling economy can affect many areas, food items are generally not as affected, with
specialty items seeming to always find favor in the market place.
4.3.1 Industry Participants

While there are currently several vendors in this market selling competitive products, the
commonality of those products provides an opening in the marketplace for the vibrant
packaging and positioning of SSE' products. The company would stand out on the shelf, stand
out in the restaurant, and will stand out in the mind of the consumer.
4.3.2 Distribution Patterns
While current brand names carry more weight in the marketplace, because of the company's
unique marketing approach using local restaurants, and displaying and demonstrating the
company's wares in local grocery stores, SSE is able to build consumer awareness at a margin
of the cost of television and radio advertising.
In going to food fairs, neighborhood festivals and the like, SSE builds consumer awareness and
generate demand at the same time. While at these events the company is also able to directly
research the market and hear first-hand what the consumer is seeking.
4.3.3 Competition and Buying Patterns

There are many suppliers of similar products currently available on the shelves at local grocer
in Singapore. However, there is still a lot of room for new products and new companies.
By positioning at the higher end of the market, the company exposes itself to consumers trying
to get out of the rut, who continue to use a product that they have long forgotten why they
buy. By not trying to compete head on, the company would be selling its product consistently
and increasingly. With entrance into some of the larger grocery chains the company will
broaden its audience considerably.
4.3.4 Main Competitors

Although the company is staking out the high end of this market, it cannot fail to be compared
with some of the current leaders in this arena. Aachi, Everest and MTR are just a few of the
participants in this segment. Most have been on the shelf for so long they are taken for granted
by the consumer. SSE' fresh approach to authentic taste and texture makes the difference.
Page 9
SSE
5.0 Strategy and Implementation Summary

Our strategy is based on serving niche markets well. The world is full of consumers who can't
get what they perceive to be high quality or authentic. We are capitalizing on the family
heritage in our product line.
We are building a marketing infrastructure that will provide what appears to be a seamless
approach to our products, covering multiple avenues of utilizing grocery stores and major
distributors. Each location will accent the other, providing for continuous exposure of Salvador's
name.
5.1 SWOT Analysis

The following SWOT analysis captures the key strengths and weaknesses within the company,
and describes the opportunities and threats facing Interior Views.
5.1.1 Strengths
Strong relationships with suppliers that offer credit arrangements, flexibility, and response
to special product requirements.
Excellent and stable Distributors, offering personalized customer service.
Great retail space that offers flexibility with a positive and attractive, inviting atmosphere.
Strong merchandising and product presentation.
Good referral relationships with complementary vendors.
In-store complementary products through "The Window Seat" will add interest, stability and
revenue.
High customer loyalty among repeat and high-dollar purchase customers.
5.1.2 Weaknesses
Access to additional operating capital.
Owners are still climbing the "retail experience curve."
Location is not in a heavily traveled, traditional retail area.
Challenges of the seasonality of the inputs to finished products.
5.1.3 Opportunities
Growing market with a significant percentage of our target market still not knowing we
exist.
Strategic alliances offering sources for referrals and joint marketing activities to extend our
reach.
Promising activity from high levels of new home construction.
Changes in design trends can initiate home updating, and therefore, generate sales.
Increasing sales opportunities beyond our target area including several neighbouring
countries such as Malaysia.
Internet potential for selling products to other markets.
Page 10
SSE
5.1.4 Threats
The downturn in the economy has impacted store sales--stock market predictors correlate
with store sales. It has not been good since Nov 2009.
Expansion of national discount stores into the local market.
Competition from a national store; or a store with greater financing or product resources
could enter the market.
Catalog resources, including Calico Corners and Pottery Barn, with aggressively priced
trend-setting fabric products including drapery, bedding, and slipcovers.
Continued price pressure due to competition or the weakening market reducing contribution
margins.
5.2 Strategy Pyramid

Our main strategy at SSE is to position ourselves at the top of the quality scale, featuring our
combination of superb quality and fine old-fashioned mother's recipe, for the buyer who wants
the best quality regardless of price. Tactics underneath that strategy include research and
development related to qualitative ingredients, choosing the right channels of distribution, and
communicating our quality position to the market. Programs are mainly those listed in the
milestones table, including new design programs for packaging, new equipment to keep up with
design, channel development, channel marketing programs, our direct sales, and our continued
presence in high-end catalog channels and presence in the Departmental Stores.
5.3 Value Proposition
The true value proposition for SSE with the customer is taste. The customer stands to gain
permanently in terms of assured quality with respect to ingredients and authentic and ethnic
taste exquisitely package.
5.4 Competitive Edge
To differentiate the company from all of the others, it stresses quality and authenticity of the
ingredients, and the heritage of the family recipe.
The company sells more than a packet with masala in it. It sells high quality ingredients,
carefully put together in a masterful blend that can't be matched in taste or true Indian ethnic
authenticity.
These are simple products that must be presented in a way that encourages the consumer to
just give the company a chance. Once they try the product, the company will have a long-term
relationship with them.
As in similar food items, the company can charge a premium for what we supply. The market
has shown it will buy our product over more readily known names because of the richness and
authentic taste of its condiments and spices.
Page 11
SSE
5.5 Marketing Strategy

The company is focusing on the consumer first through grocery exposure, and then impacting
them through restaurants and other food places.
5.5.1 Positioning Statement
For Singapore based Indians who require Indian ethnic condiments, spices and masalas, SSE
will distribute high quality products at reasonable prices and unlike the competition, the
products would be highly authentic.
5.5.2 Pricing Strategy
The company is able to price our products competitively. Even though the company is subject
to some impulse buying, it can provide a product to be resold at a generous mark-up for its
dealers, while still providing a satisfactory experience for the consumer.
5.5.3 Promotion Strategy
The long-range goal is to gain enough visibility to leverage the product into other distribution
sites within the region, then to move on to other geographical regions as inquiries and
distribution requests come in.
Although the company's current contacts in the grocery chains are for local Singapore
consumption, expansion to Malaysia is quite likely in the foreseeable future.
5.5.4 Distribution Strategy

To this means the company has been working on packaging for better corporate identity,
providing a more attractive package, a very important ingredient in the food industry. Barcoding and nutritional information to the label is planned.
Aside of this distribution will be on traditional lines.
5.5.5 Marketing Programs
Our main marketing program will revolve around the placement of our full line, full color
catalogue and price list in retail industry magazines having largest circulation in Singapore. This
magazine is mailed to the over distributors retailers and departmental stores as well as our own
sales reps.
Secondly, shelf space will be hired for display of products
5.6 Sales Strategy
The keys to our continuing success are in the areas the company is planning to add to its
current distribution channels. This will remain the main focus for the next five years. Sales calls
on the Grocers and Departmental Stores (at least twice a year) in addition to distribution
channels is likely to result in the company's products Salsa being stocked and sold by them.
Page 12
SSE
5.6.1 Sales Forecast

The Company currently forecast our sales to grow at an astounding rate for the next 12 months
because of oral commitments it has received from distributors intending to take on its product
line in larger volumes in the future.
This growth will continue, but at a lower rate for the next year, and the following year. We
anticipate the growth rate to flatten out within five years, but to remain steady. Should the
market on Indian food items continue at its current pace, SSE will keep pace with it. The
forecast does not assume a downturn in the product within a five-year period, and the figures
are a reflection of that forecast.
Table: Sales Forecast
Sales Forecast
FY 2010
FY 2011
FY 2012
Chilli Powder
Turmeric Powder
Coriander Seeds
Basmati Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
Total Sales
195.00
195.00
121.92
365.64
195.00
48.72
97.56
97.56
195.00
195.00
243.72
195.00
195.00
195.00
195.00
195.00
195.00
243.72
292.56
292.56
3948.96
210.60
210.60
131.67
394.89
210.60
52.62
105.36
105.36
210.60
210.60
263.22
210.60
210.60
210.60
210.60
210.60
210.60
263.22
315.96
315.96
4264.86
227.45
227.45
142.20
426.48
227.45
56.83
113.79
113.79
227.45
227.45
284.28
227.45
227.45
227.45
227.45
227.45
227.45
284.28
341.24
341.24
4606.08
Direct Cost of Sales

Chilli Powder
Turmeric Powder
Coriander Seeds
Basmati Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
Subtotal Direct Cost of Sales
FY 2010
140.76
105.60
140.76
161.76
211.20
140.76
35.16
35.16
42.48
140.28
186.96
149.64
149.64
149.64
149.64
149.64
149.64
186.96
211.20
211.20
2848.08
FY 2011
152.02
114.05
152.02
174.70
228.10
152.02
37.97
37.97
45.88
151.50
201.92
161.61
161.61
161.61
161.61
161.61
161.61
201.92
228.10
228.10
3075.93
FY 2012
164.18
123.17
164.18
188.68
246.35
164.18
41.01
41.01
49.55
163.62
218.07
174.54
174.54
174.54
174.54
174.54
174.54
218.07
246.35
246.35
3322.01
Sales
Page 13
SSE
Mar
Feb
Jan
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Chart: Sales Monthly
Chart: Sales by Year
Page 14
SSE
5.6.2 Sales Programs

Distributor sales: Thorough and persistent effort to generate sales through Distributor net work
is being done.
To this means, the company is currently interviewing distributors to assist it with the marketing
and distribution of its Products. Again, the hiring of a distributor, and a modest performance
increase on their efforts for company would make the sales projections conservative. Key to the
sale and distribution of the products through this channel is the constant care and feeding of
the buyers for each of the organizations. Sales calls on a regular basis, along with samples of
new product, will keep the doors open to the company.
5.7 Strategic Alliances

Strategic Alliances are going to be the main stay of the company. Vendors who supply quality
ingredients and manufacturers who process the ingredients are virtually business partners of
the company. Company is also planning to enter into some strategic alliances with some of the
hotels in Singapore.
5.8 Milestones
The following table and chart are the important milestones for SSE.
Table: Milestones
Milestones
Milestone
Raising of Finance
Procurement and Testing
First major consignment Export
Totals
Start Date
02-03-2009
02-03-2009
02-03-2009
End Date
01-04-2009
11-04-2009
21-04-2009
Page 15
SSE
Chart: Milestones
6.0 Management Summary

SSE was founded in the year 2008, by Mr.ABC, a reputed industrialist, hailing from a reputed
family. He is also the chairman cum Managing Director of XYZ, an animation software company
which is going to make heavy inroads in the field of school education. He, in the past has done
business in south east Asian countries and he knows the topography of the Singaporean market
very well. The company has already received trial orders and the product has been accepted
very well.
6.1 Organizational Structure
SSE' planned organization calls for sales and marketing, product development, finance and
administration.
Org. Chart: Organizational Chart
6.2 Management Team

The Company is presently in the process of putting up an able and efficient management team.
6.3 Management Team Gaps
The gaps in the management team are currently being addressed through the use of outside
consultants and will continue to be until the cash flow allows for the hiring of employees to fill
Page 16
SSE
those capacities. The identifiable gaps are in administration, finance management, and
marketing.
6.4 Personnel Plan
The Personnel Plan chronicles the growth of the organization to approximately 29 employees in
the first 3 years. Each year may require a few additional people besides those indicated, based
on the growth of the company in accordance with the Business Plan.
Table: Personnel
Personnel Plan
FY 2010
FY 2011
FY 2012
General Manager
Manager
Supervisors
Admin and Excise, Customs
Accounts
Stores
Security
Quality Control
Wages
Total People
7.20
6.00
5.40
3.84
3.84
3.84
4.80
7.20
23.28
29
7.78
6.48
5.83
4.15
4.15
4.15
5.18
7.78
25.14
29
8.40
7.00
6.30
4.48
4.48
4.48
5.59
8.40
27.15
29
Total Payroll
65.40
70.64
76.28
7.0 Financial Plan

The promoters intend to bring in Rs.300 lacs as capital. Proposed loan is Rs.1200 lacs. Shortfall
in margins if any will be taken care of by internal accruals.
7.1 Start-up Funding
Star-up expenses will be fully met by the promoter through his personal resources.
Table: Start-up Funding
Start-up Funding
Start-up Expenses to Fund
Start-up Assets to Fund
Total Funding Required
0.60
9.40
10.00
Assets
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
Total Assets
7.00
2.40
0.00
2.40
9.40
Liabilities and Capital

Liabilities
Current Borrowing
Long-term Liabilities
0.00
0.00
Page 17
SSE
Accounts Payable (Outstanding Bills)

Other Current Liabilities (interest-free)
Total Liabilities
0.00
0.00
0.00
Capital
Planned Investment
Owner
Investor
Additional Investment Requirement
Total Planned Investment
10.00
0.00
0.00
10.00
Loss at Start-up (Start-up Expenses)

Total Capital
-0.60
9.40
Total Capital and Liabilities

Total Funding
9.40
10.00
7.2 Important Assumptions

The financial plan depends on important assumptions, most of which are shown in the following
table. The key underlying assumptions are:
We assume a slow-growth economy, without major recession.
We assume, of course, that there are no unforeseen changes in the consumer market to
make products immediately obsolete or out of favor (or not increasing in popularity).
We assume access to equity capital and financing sufficient to maintain our financial plan as
shown in the tables, addendum, and additional documentation.
7.3 Key Financial Indicators
The following chart shows changes in key financial indicators: sales, gross margin, operating
expenses, collection days, and inventory turnover. The growth in sales is the most obvious
change, and operating expenses with sales. We believe the growing market for our products,
the larger potential market, justifies the growth projections of 10% per annum.
We expect to maintain gross margin at the level indicated, or close to that, without major
changes.
The projections for collection days and inventory turnover show that we are expecting it to be
steady over a period of time.
Page 18
SSE
Chart: Benchmarks
7.4 Break-even Analysis

Our break-even analysis is based on our cost and price structure at present. As we grow, the
fixed costs will grow in proportion to our employee numbers and general economic trends. The
projections include an increase in these costs.
Table: Break-even Analysis
Break-even Analysis
Monthly Revenue Break-even
94.84
Assumptions:
Average Percent Variable Cost
Estimated Monthly Fixed Cost
72%
26.44
Page 19
SSE
Chart: Break-even Analysis
7.5 Projected Profit and Loss

The following table shows that we expect to maintain decent gross margin and net profit margin
during the next three years. The single most important factor in the improving profit margin is
the fact that we plan aggressive penetration in the first year. Only nominal growth is assumed
in the ensuing years.
While we have increased cost in the projection for the expenses while keeping sale realisation
per unit and cost per unit static. We don't expect to decrease sales and marketing expenses.
The packaged commodities business requires heavy marketing expenses.
The following table shows just the annual numbers. The detailed monthly projections for 200910 are included in the appendix. Finance data as per CMA format is also attached to this report.
Table: Profit and Loss
Pro Forma Profit and Loss

FY 2010
FY 2011
FY 2012
Sales
Other Costs of Sales
Total Cost of Sales
3948.96
2848.08
354.96
3203.04
4264.86
3075.93
397.16
3473.09
4606.08
3322.01
433.57
3755.58
Gross Margin
Gross Margin %
745.92
18.89%
791.77
18.56%
850.50
18.46%
65.40
216.00
7.08
70.64
226.80
5.11
76.28
238.15
3.76
Expenses
Payroll
Marketing/Promotion
Depreciation
Page 20
SSE
Rent
Admin Expenses
13.20
15.60
14.70
16.38
17.20
17.20
Total Operating Expenses
317.28
333.63
352.59
Profit Before Interest and Taxes

EBITDA
Interest Expense
Taxes Incurred
762.48
769.56
112.50
227.49
485.02
490.13
112.50
130.38
512.89
516.65
112.50
140.14
4.80
329.04
333.84
4.94
21.94
26.88
5.09
9.89
14.98
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
333.84
422.49
10.70%
26.88
242.14
5.68%
14.98
260.25
5.65%
Other Income
Scrap
Variation in Stock
Total Other Income
Other Expense
Other Expense Account Name
Total Other Expense
Net Other Income
Net Profit
Net Profit/Sales
Chart: Profit Monthly
Page 21
SSE
Chart: Profit Yearly
Chart: Gross Margin Monthly
Page 22
SSE
Chart: Gross Margin Yearly
7.6 Projected Cash Flow

For the purpose of this projection, Capital and loans have been assumed to be taken from 1st
April 2009. In reality, this will be drawn on need base only. This gives added cushion to the
projections. Projections for this write up is for indicative purpose only, Actual projection in CMA
format is attached.
Table: Cash Flow
Pro Forma Cash Flow

FY 2010
FY 2011
FY 2012
0.00
2972.69
2972.69
0.00
4186.76
4186.76
0.00
4521.72
4521.72
Non Operating (Other) Income

Sales Tax, VAT, HST/GST Received
New Current Borrowing
New Other Liabilities (interest-free)
New Long-term Liabilities
Sales of Other Current Assets
Sales of Long-term Assets
New Investment Received
Subtotal Cash Received
333.84
0.00
600.00
600.00
0.00
0.00
0.00
290.00
4796.53
26.88
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4213.64
14.98
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4536.70
Expenditures
FY 2010
FY 2011
FY 2012
4089.57
4063.48
4377.55
Cash Received
Cash from Operations
Cash Sales
Cash from Receivables
Subtotal Cash from Operations
Additional Cash Received
Expenditures from Operations

Cash Spending
Page 23
SSE
Bill Payments
Subtotal Spent on Operations
0.00
4089.57
0.00
4063.48
0.00
4377.55
0.00
0.00
0.00
0.00
0.00
0.00
0.00
120.00
4209.57
0.00
0.00
0.00
0.00
0.00
0.00
0.00
120.00
4183.48
0.00
0.00
0.00
0.00
0.00
0.00
0.00
120.00
4497.55
586.96
589.36
30.16
619.52
39.15
658.67
Additional Cash Spent

Non Operating (Other) Expense
Sales Tax, VAT, HST/GST Paid Out
Principal Repayment of Current Borrowing
Other Liabilities Principal Repayment
Long-term Liabilities Principal Repayment
Purchase Other Current Assets
Purchase Long-term Assets
Dividends
Subtotal Cash Spent
Net Cash Flow
Cash Balance
Chart: Cash
7.7 Projected Balance Sheet

Figures are indicative to corroborate write=up. Actual projection is annexed in CMA format.
Table: Balance Sheet
Pro Forma Balance Sheet

FY 2010
FY 2011
FY 2012
Rs589
Rs976
Rs237
Rs620
Rs1,054
Rs256
Rs659
Rs1,139
Rs277
Assets
Current Assets
Cash
Accounts Receivable
Inventory
Page 24
SSE

Total Current Assets
Rs6
Rs1,809
Rs6
Rs1,936
Rs6
Rs2,080
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
Rs0
Rs7
(Rs7)
Rs1,802
Rs0
Rs12
(Rs12)
Rs1,924
Rs0
Rs16
(Rs16)
Rs2,064
FY 2010
FY 2011
FY 2012
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
0.00
600.00
600.00
1200.00
0.00
600.00
600.00
1200.00
0.00
600.00
600.00
1200.00
Total Liabilities
0.00
1200.00
0.00
1200.00
0.00
1200.00
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
300.00
-120.60
422.49
601.89
1801.89
300.00
181.89
242.14
724.02
1924.02
300.00
304.02
260.25
864.28
2064.28
601.89
724.02
864.28
Long-term Assets
Current Liabilities
Net Worth
7.8 Business Ratios

The following table presents important ratios from the Operation of the company for the next
three years.
Table: Ratios
Ratio Analysis
FY 2010
FY 2011
FY 2012
0.00%
8.00%
8.00%
Accounts Receivable
Inventory
Long-term Assets
Total Assets
54.18%
13.17%
0.33%
100.39%
-0.39%
100.00%
54.80%
13.32%
0.31%
100.63%
-0.63%
100.00%
55.16%
13.41%
0.29%
100.77%
-0.77%
100.00%
Current Liabilities
Total Liabilities
Net Worth
66.60%
0.00%
66.60%
33.40%
62.37%
0.00%
62.37%
37.63%
58.13%
0.00%
58.13%
41.87%
100.00%
18.89%
8.19%
5.47%
19.31%
100.00%
18.56%
12.89%
5.32%
11.37%
100.00%
18.46%
12.81%
5.17%
11.14%
1.51
1.61
1.73
Sales Growth
Percent of Total Assets
Percent of Sales
Sales
Gross Margin
Selling, General & Administrative Expenses
Advertising Expenses
Main Ratios
Current
Page 25
SSE
Quick
Total Debt to Total Assets
Pre-tax Return on Net Worth
Pre-tax Return on Assets
1.31
66.60%
107.99%
36.07%
1.40
62.37%
51.45%
19.36%
1.50
58.13%
46.33%
19.40%
Additional Ratios
Net Profit Margin
Return on Equity
FY 2010
10.70%
70.19%
FY 2011
5.68%
33.44%
FY 2012
5.65%
30.11%
4.04
83
12.00
0.00
0
2.19
4.04
87
12.46
0.00
0
2.22
4.04
87
12.46
0.00
0
2.23
1.99
1.00
1.66
1.00
1.39
1.00
608.97
6.78
736.21
4.31
880.23
4.56
0.46
67%
0.50
6.56
0.28
0.45
62%
0.52
5.89
0.50
0.45
58%
0.55
5.33
0.46
Activity Ratios
Accounts Receivable Turnover
Collection Days
Inventory Turnover
Accounts Payable Turnover
Payment Days
Total Asset Turnover
Debt Ratios
Debt to Net Worth
Current Liab. to Liab.
Liquidity Ratios
Net Working Capital
Interest Coverage
Additional Ratios
Assets to Sales
Current Debt/Total Assets
Acid Test
Sales/Net Worth
Dividend Payout
Page 26
10.16
30.47
16.25
4.06
8.13
8.13
16.25
16.25
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
24.38
24.38
329.08
Coriander Seeds
Basmati Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
Total Sales
8.80
11.73
13.48
17.60
11.73
2.93
2.93
3.54
11.69
15.58
Turmeric Powder
Coriander Seeds
Basmati Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
11.73
Chilli Powder
Apr
16.25
16.25
Turmeric Powder
Apr
Chilli Powder
Sales
Sales Forecast
Table: Sales Forecast
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
May
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
May
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
Jun
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
Jun
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
Jul
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
Jul
Aug
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
Aug
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
Appendix
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
Sep
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
Sep
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
Oct
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
Oct
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
Nov
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
Nov
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
Dec
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
Dec
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
Jan
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
Jan
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
Feb
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
Feb
Page 1
15.58
11.69
3.54
2.93
2.93
11.73
17.60
13.48
11.73
8.80
11.73
Mar
329.08
24.38
24.38
20.31
16.25
16.25
16.25
16.25
16.25
16.25
20.31
16.25
16.25
8.13
8.13
4.06
16.25
30.47
10.16
16.25
16.25
Mar
12.47
12.47
12.47
12.47
12.47
12.47
15.58
17.60
17.60
237.34
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
Subtotal Direct Cost of Sales
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
Appendix
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
Page 2
237.34
17.60
17.60
15.58
12.47
12.47
12.47
12.47
12.47
12.47
0.32
0.40
0.60
1.94
Stores
Security
Quality Control
Wages
5.45
0.32
Accounts
Total Payroll
0.32
Admin and Excise, Customs
29
0.45
Supervisors
Total People
0.50
Manager
Apr
0.60
General Manager
Personnel Plan
Table: Personnel
May
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
Jun
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
Jul
Appendix
Aug
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
Sep
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
Oct
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
Nov
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
Dec
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
Jan
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
Feb
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
Mar
Page 1
5.45
29
1.94
0.60
0.40
0.32
0.32
0.32
0.45
0.50
0.60
29.58
266.92
62.16
18.89%
Other Costs of Sales
Total Cost of Sales
Gross Margin
Gross Margin %
0.59
1.10
1.30
26.44
63.54
64.13
9.38
18.96
Marketing/Promotion
Depreciation
Rent
Admin Expenses
Total Operating Expenses
EBITDA
Interest Expense
Taxes Incurred
27.82
Variation in Stock
Total Other Income
0.00
0.00
0.00
27.82
35.21
Total Other Expense
Net Other Income
Net Profit
Other Expense
0.40
27.42
Scrap
Other Income
5.45
18.00
Payroll
Expenses
237.34
Apr
329.08
Sales
Pro Forma Profit and Loss
Table: Profit and Loss
May
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
Jun
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
Jul
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
Aug
Appendix
Sep
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
Oct
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
Nov
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
Dec
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
Jan
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
Feb
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
Mar
Page 1
35.21
27.82
0.00
0.00
0.00
27.82
27.42
0.40
18.96
9.38
64.13
63.54
26.44
1.30
1.10
0.59
18.00
5.45
18.89%
62.16
266.92
29.58
237.34
329.08
Net Profit/Sales
10.70%
10.70%
10.70%
10.70%
10.70%
Appendix
10.70%
10.70%
10.70%
10.70%
10.70%
10.70%
Page 2
10.70%
0.00
Subtotal Cash from Operations
0.00%
0.00
0.00
290.00
1517.82
Sales of Long-term Assets
New Investment Received
Subtotal Cash Received
0.00
0.00
0.00
0.00
0.00
0.00
Principal Repayment of Current Borrowing
Other Liabilities Principal Repayment
Long-term Liabilities Principal Repayment
Purchase Other Current Assets
Purchase Long-term Assets
Dividends
557.44
0.00
Sales Tax, VAT, HST/GST Paid Out
Subtotal Cash Spent
0.00
Non Operating (Other) Expense
Additional Cash Spent
557.44
0.00
Bill Payments
Subtotal Spent on Operations
557.44
Cash Spending
Expenditures from Operations
Apr
0.00
Sales of Other Current Assets
Expenditures
0.00
New Long-term Liabilities
600.00
0.00
600.00
Sales Tax, VAT, HST/GST Received

New Current Borrowing
New Other Liabilities (interest-free)
27.82
Non Operating (Other) Income
Additional Cash Received
0.00
Cash from Receivables
Apr
Cash Sales
Cash from Operations
Cash Received
Pro Forma Cash Flow
Table: Cash Flow
321.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
May
27.82
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
0.00
0.00
0.00
May
321.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
Jun
38.79
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
10.97
10.97
0.00
Jun
321.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
Jul
356.90
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
329.08
329.08
0.00
Jul
0.00
Aug
321.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
Aug
356.90
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
329.08
329.08
Appendix
321.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
Sep
356.90
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
329.08
329.08
0.00
Sep
321.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
Oct
356.90
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
329.08
329.08
0.00
Oct
321.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
Nov
356.90
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
329.08
329.08
0.00
Nov
321.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
Dec
356.90
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
329.08
329.08
0.00
Dec
321.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
Jan
356.90
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
329.08
329.08
0.00
Jan
321.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
Feb
356.90
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
329.08
329.08
0.00
Feb
Page 1
441.10
120.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
321.10
0.00
321.10
Mar
356.90
0.00
0.00
0.00
0.00
0.00
0.00
0.00
27.82
329.08
329.08
0.00
Mar
960.38
962.78
Net Cash Flow
Cash Balance
669.49
-293.28
387.18
-282.31
422.98
35.80
35.80
458.78
Appendix
35.80
494.57
35.80
530.37
35.80
566.17
35.80
601.96
35.80
637.76
35.80
673.56
-84.20
Page 2
589.36
Appendix
Table: Balance Sheet
Pro Forma Balance

Sheet
Assets
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Rs2
Rs0
Rs1
Rs6
Rs9
Rs963
Rs329
Rs237
Rs6
Rs1,535
Rs669
Rs658
Rs237
Rs6
Rs1,571
Rs387
Rs976
Rs237
Rs6
Rs1,607
Rs423
Rs976
Rs237
Rs6
Rs1,643
Rs459
Rs976
Rs237
Rs6
Rs1,678
Rs495
Rs976
Rs237
Rs6
Rs1,714
Rs530
Rs976
Rs237
Rs6
Rs1,750
Rs566
Rs976
Rs237
Rs6
Rs1,786
Rs602
Rs976
Rs237
Rs6
Rs1,822
Rs638
Rs976
Rs237
Rs6
Rs1,857
Rs674
Rs976
Rs237
Rs6
Rs1,893
Rs589
Rs976
Rs237
Rs6
Rs1,809
Rs0
Rs0
Rs0
Rs1
Rs0
Rs1
Rs0
Rs2
Rs0
Rs2
Rs0
Rs3
Rs0
Rs4
Rs0
Rs4
Rs0
Rs5
Rs0
Rs5
Rs0
Rs6
Rs0
Rs6
Rs0
Rs7
Rs0
(Rs1)
(Rs1)
(Rs2)
(Rs2)
(Rs3)
(Rs4)
(Rs4)
(Rs5)
(Rs5)
(Rs6)
(Rs6)
(Rs7)
Rs9
Rs1,535
Rs1,570
Rs1,605
Rs1,640
Rs1,675
Rs1,711
Rs1,746
Rs1,781
Rs1,816
Rs1,851
Rs1,887
Rs1,802
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Starting
Balances
Current Assets
Cash
Accounts Receivable
Inventory
Long-term Assets
Long-term Assets
Accumulated
Depreciation
Total Long-term
Assets
Total Assets
Current Liabilities
Accounts Payable
Current Borrowing
Other Current
Liabilities
Subtotal Current
Liabilities
0.00
0.00
0.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
600.00
600.00
0.00
1200.00
1200.00
1200.00
1200.00
1200.00
1200.00
1200.00
1200.00
1200.00
1200.00
1200.00
1200.00
Total Liabilities
0.00
0.00
0.00
1200.00
0.00
1200.00
0.00
1200.00
0.00
1200.00
0.00
1200.00
0.00
1200.00
0.00
1200.00
0.00
1200.00
0.00
1200.00
0.00
1200.00
0.00
1200.00
0.00
1200.00
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and
Capital
10.00
-0.60
0.00
9.40
9.40
300.00
-0.60
35.21
334.61
1534.61
300.00
-0.60
70.41
369.81
1569.81
300.00
-0.60
105.62
405.02
1605.02
300.00
-0.60
140.83
440.23
1640.23
300.00
-0.60
176.04
475.44
1675.44
300.00
-0.60
211.24
510.64
1710.64
300.00
-0.60
246.45
545.85
1745.85
300.00
-0.60
281.66
581.06
1781.06
300.00
-0.60
316.87
616.27
1816.27
300.00
-0.60
352.07
651.47
1851.47
300.00
-0.60
387.28
686.68
1886.68
300.00
-120.60
422.49
601.89
1801.89
9.40
334.61
369.81
405.02
440.23
475.44
510.64
545.85
581.06
616.27
651.47
686.68
601.89
Net Worth
Page 1
Appendix
Financial Projections
In
CMA Format
Page 2
Appendix
Intentionally left blank for notes

Page 3
Appendix
For Bank of Baroda
SSE
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
FORM II : OPERATING STATEMENT

[Rs.in lacs]
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
1. GROSS SALES
i) Domestic Sales
ii) Export Sales
Total
2. Less Excise Duty
3. Net Sales (1-2)
0.00
3948.76
0.00
4212.00
0.00
4330.63
0.00
4212.00
0.00
4330.63
0.00
4449.25
4449.25
0.00
4449.25
106.67%
102.82%
102.74%
102.67%
102.60%
0.00
2848.05
0.00
2759.20
0.00
2842.80
0.00
3003.40
0.00
3010.00
0.00
3093.60
0.00
348.75
0.00
65.37
6.24
7.08
3275.49
0.00
3275.49
0.00
3275.49
0.00
3275.49
329.06
2946.43
244.80
3191.23
757.53
0.00
390.60
0.00
71.53
6.56
5.11
3233.00
0.00
3233.00
0.00
3233.00
329.06
3562.06
351.00
3211.06
257.88
3468.94
743.06
0.00
426.69
0.00
77.59
6.88
3.76
3357.72
0.00
3357.72
0.00
3357.72
351.00
3708.72
360.89
3347.83
272.55
3620.38
710.25
0.00
465.39
0.00
84.09
7.25
2.80
3562.93
0.00
3562.93
0.00
3562.93
360.89
3923.82
370.77
3553.05
285.71
3838.76
610.49
0.00
506.88
0.00
91.10
7.62
2.12
3617.72
0.00
3617.72
0.00
3617.72
370.77
3988.49
380.66
3607.83
299.56
3907.39
660.49
0.00
551.37
0.00
98.66
7.99
1.62
3753.24
0.00
3753.24
0.00
3753.24
380.66
4133.90
390.54
3743.36
314.12
4057.48
629.02
3948.76 4212.00 4330.63

0.00
3948.76
0.00
4567.88
4567.88
0.00
4567.88
0.00
4686.50
4686.50
0.00
4686.50
4. % rise (+) or fall (-) in net

sales as compared to previous year
5. Cost of Sales
i) Raw materials
a) Imported
b) Indigeneous
ii) Other Spares
a) Imported
b) Indigeneous (Packing, Forwarding)
iii) Power and Fuel
iv) Employee Costs (Factory wages & salaries)
v) Other Manufacturing expenses
vi) Depreciation
vii) SUB-TOTAL ( i to vi)
viii) Add: Opening Stock-in-Process
Sub Total
ix) Deduct: Closing stock-in-process
x) Cost of Production
xi) Add: Opening stock of Finished Goods
Sub Total
xii) Deduct:Closing stock of Fin.Goods
xiii) SUB TOTAL (Total cost of Sales)
6. Selling, general, and admn.exp.
7. SUB TOTAL (5+6)
8. Operating profit before interest
Page 4
Appendix
For Bank of Baroda
SSE
FORM II : OPERATING STATEMENT

[Rs.in lacs]
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
9. Interest
201.00
201.00
201.00
201.00
201.00
201.00
10. Operating profit after interest(8-9)
556.53
542.06
509.25
409.49
459.49
428.02
0.00
0.00
4.80
4.80
0.00
0.00
4.94
4.94
0.00
0.00
5.09
5.09
0.00
0.00
5.24
5.24
0.00
0.00
5.40
5.40
0.00
0.00
5.56
5.56
Sub-total(expenses)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
iii) Net of other non-operating
4.80
4.94
5.09
5.24
5.40
5.56
14 Net Profit/loss (12-13)
561.33
196.47
364.86
547.00
191.45
355.55
514.34
180.02
334.32
414.73
145.16
269.57
464.89
162.71
302.18
433.58
151.75
281.83
15 (a) Proprietor's Drawings
120.00
120.00
120.00
120.00
120.00
120.00
244.86
67.11%
251.94
235.55
66.25%
240.66
214.32
64.11%
218.08
149.57
55.48%
152.37
182.18
60.29%
184.30
161.83
57.42%
163.45
11. i) Add other non-operating income

(a) Duty draw back and DEPB
(b) Profit on Invst.redemption
(c) Miscellaneous
Sub-total(income)
ii) Deduct other non-operating expenses
(a) Exchange loss, if any
(b) Miscellaneous Expenses
income/expenses
[net of 11(i) & 11(ii)]
12 Profit before tax/loss 10+11(iii)
13 Provision for taxes
(a) Dividend rate

16 Retained profit (14-15)
17 Retained profit/NetProfit (%)
18 Cash Accruals
Page 5
Appendix
For Bank of Baroda
SSE
ANALYSIS OF BALANCE SHEET

[Rs.in lacs]
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
LIABILITIES
CURRENT LIABILITIES
1. Short term borrowings from banks
(incld. bills purchased discounted
& excess borrowings placed on
repayment basis)
1200.00
0.00
0.00
1200.00
1200.00
0.00
0.00
1200.00
1200.00
0.00
0.00
1200.00
1200.00
0.00
0.00
1200.00
1200.00
0.00
0.00
1200.00
1200.00
0.00
0.00
1200.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
10.Other Provisions
25.00
0.00
25.00
0.00
25.00
0.00
25.00
0.00
25.00
0.00
25.00
0.00
Sub-total (B)
25.00
25.00
25.00
25.00
25.00
25.00
1225.00
1225.00
1225.00
1225.00
1225.00
1225.00
i) From applicant bank

ii) From other banks
iii) (of which BP & BD)
Sub total (a)
2. Short term borrowings from others
3. Sundry Creditors (trade)
4. Advance payments / deposits from customers
5. Provision for taxation & Gratuity
6. Dividend payable
7. Other statutory liabilities(due within one year)
8. Deposits/instalments of term loans/ DPG/
debentures etc.(due within one year)
9. Other Current liabilities & provisions (due within one
year)
11. TOTAL CURRENT LIABILITIES
Page 6
Appendix
For Bank of Baroda
SSE
[Rs.in lacs]
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
TERM LIABILITIES
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1225.00
1225.00
1225.00
1225.00
1225.00
1225.00
300.00
300.00
300.00
300.00
300.00
300.00
20 General reserve
0.00
0.00
0.00
0.00
0.00
0.00
21 Revaluation reserve
0.00
0.00
0.00
0.00
0.00
0.00
22 Capital Investment Subsidy
0.00
0.00
0.00
0.00
0.00
0.00
244.86
480.41
694.73
844.30
1026.48
1188.31
544.86
1769.86
780.41
2005.41
994.73
2219.73
1144.30
2369.30
1326.48
2551.48
1488.31
2713.31
11 Debentures (not maturing within

one year)
12 Preference Shares (redeemable
after one Year)
13 Term loans (excluding instalments
payable within one year)
14 Deferred payment Credits (excluding
instalments due within one year)
15 Term deposits payable after one ye
16 Other term liabilities
17 TOTAL TERM LIABILITIES

(Total of 11 to 16)
18 TOTAL OUTSIDE LIABILITES
(10+17)
NET WORTH
19 Ordinary Share capital
23 Surplus(+) or deficit(-) in P & L

24 NET WORTH
25 TOTAL LIABILITIES
(18+24)
Page 7
Appendix
For Bank of Baroda
SSE
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
ADJUSTMENT FOR REPAYMENT DUE WITHIN NE

11 Debentures (maturing within 1 YEAR)
12 Preference Shares (redeemable
within 1 year)
13 Term loans(instalments payable
within one year)
14 Deferred payment Credits
(instalments due within one year)
15 Term deposits within one year
16 Other term liab.
(payable within one year)
Page 8
Appendix
For Bank of Baroda
SSE
[Rs.in lacs]
ASSETS
CURRENT ASSETS
26 Cash and Bank Balances
27 Investments (Other than long term)
(i) Govt. and other Trustee Securiti
(ii)Fixed deposits with banks
28 (i)Receivables other than deferred
& Exports (incldg. bills purchased
and Discounted with banks)
(ii) Export receivables (including
bills purchased/discounted with ban
29 Instalments of deferred receivables
(due within one year)
30 Inventory:
(i) Raw materials
Packing Credit: Imported
Indigeneous
Other Stock:
Imported
Indigeneous
(ii) Stock in process
(iii) Finished goods
(iv) Other consumable spares
(a) Imported
(b) Indigeneous
31 Advances to suppliers/rejn. recov.
of raw materials and spares
32 Advance payment of Taxes
33 Other Current Assets
34 TOTAL CURRENT ASSETS
FIXED ASSETS
35 Gross Block
36 Depreciation to date
37 NET BLOCK
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
401.99
554.90
733.43
846.27
991.02
1114.94
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
987.19
0.00
1053.00
0.00
1082.66
0.00
1112.31
0.00
1141.97
0.00
1171.63
0.00
0.00
0.00
0.00
0.00
0.00
329.06
0.00
0.00
0.00
0.00
0.00
351.00
0.00
0.00
0.00
0.00
0.00
360.89
0.00
0.00
0.00
0.00
0.00
370.77
0.00
0.00
0.00
0.00
0.00
380.66
0.00
0.00
0.00
0.00
0.00
390.54
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
30.00
1748.24
0.00
0.00
30.00
1988.90
0.00
0.00
30.00
2206.98
0.00
0.00
30.00
2359.35
0.00
0.00
30.00
2543.65
0.00
0.00
30.00
2707.11
28.70
7.08
21.62
28.70
12.19
16.51
28.70
15.95
12.75
28.70
18.75
9.95
28.70
20.87
7.83
28.70
22.49
6.21
Page 9
Appendix
For Bank of Baroda
SSE
[Rs.in lacs]
ASSETS
OTHER NON-CURRENT ASSETS
38 Investments/book debts/advances
deposits which are not current asse
I) a) Investmnets in subsidiary
companies/affiliates
b) Others
II) Advance to suppliers of
Capital goods & Contractors
III) Deferred Receivables (maturity
exceeding one year)
IV) Other Non current assets
39 Non consumable stores & spares
40 Other non current assets incldg
dues from directors
41 TOTAL OTHER NON CURR. ASSETS
42 Intangible assets (patents, goodwill, prelim. exps., bad/doubtful
debts, not provided for. etc)
43 TOTAL ASSETS
44 TANGIBLE NET WORTH (24-42)
45 NET WORKING CAPITAL
[(17+24)-(37+41+42)
46 CURRENT RATIO(Items 34/10)
47 TOTAL OUTSIDE LIABILITIES/TANGIBLE
NET WORTH (18/44)
ADDITIONAL INFORMATION
A) Arrears of depreciation
B) Contingent Liabilities
i) Arrears of cumulative dividend
ii) Gratuity liability not provided
iii) Disputed excise/customs/tax lia
iv) Other liabilities not provided
Total Liabilities (Easy Reference)
DIFFERENCE [TA-TL]
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1769.86
544.86
523.24
523.24
1.43
0.00
2005.41
780.41
763.90
763.90
1.62
0.00
2219.73
994.73
981.98
981.98
1.80
0.00
2369.30
1144.30
1134.35
1134.35
1.93
0.00
2551.48
1326.48
1318.65
1318.65
2.08
0.00
2713.32
1488.31
1482.10
1482.10
2.21
2.25
1.57
1.23
1.07
0.92
0.82
1769.86
0.00
2005.41
0.00
2219.73
0.00
2369.30
0.00
2551.48
0.00
2713.31
0.00
Page 10
Appendix
For Bank of Baroda
SSE
FORM IV -COMPARITIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
[Rs.in lacs]
A. CURRENT ASSETS
1. Raw materials (incldg. stores & other spares
used in the process of manufact
a) Imported: (Packing Credit)
Imported: (Other Stock)
Months' consumption
b) Indigeneous: (Packing Credit)
Indigeneous: (Other Stock)
Months' consumption
TOTAL
Months' consumption
2. Other consumable stores,
excluding those included in 1 above
(a) Imported
(b) Indigeneous
3. Stocks in process:
Months' Cost of production
4. Finished goods:
Months' Cost of Sales
5. Receivables other than export
& deferred receivables (incldg.
bills purchased & discounted
by bankers)
Months' domestic sales:
6. Export receivables (incl.bills
purchased & discounted)
Months' Export Sales
7. Advances to suppliers of raw materials
stores/spares, consumables
8. * Other current assets incl. cash
& bank balances & deferred
receivables due within one year
(specify major items)
9. TOTAL CURRENT ASSETS
(To agree with item 34 in Form III
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
0.00
0.00
#DIV/0!
0.00
0.00
0.00
0.00
0.00
0.00
0.00
#DIV/0!
0.00
0.00
0.00
0.00
0.00
0.00
0.00
#DIV/0!
0.00
0.00
0.00
0.00
0.00
0.00
0.00
#DIV/0!
0.00
0.00
0.00
0.00
0.00
0.00
0.00
#DIV/0!
0.00
0.00
0.00
0.00
0.00
0.00
0.00
#DIV/0!
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
329.06
(1.34)
0.00
0.00
0.00
0.00
351.00
(1.31)
0.00
0.00
0.00
0.00
360.89
(1.29)
0.00
0.00
0.00
0.00
370.77
(1.25)
0.00
0.00
0.00
0.00
380.66
(1.27)
0.00
0.00
0.00
0.00
390.54
(1.25)
0.00
0.00
0.00
0.00
0.00
0.00
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
987.19
(3.00)
1053.00
(3.00)
1082.66
(3.00)
1112.31
(3.00)
1141.97
(3.00)
1171.63
(3.00)
0.00
0.00
0.00
0.00
0.00
0.00
431.99
584.90
763.43
876.27
1021.02
1144.94
1748.24
1988.90
2206.98
2359.35
2543.65
2707.11
1748.24
1988.90
2206.98
2359.35
2543.65
2707.11
Page 11
Appendix
For Bank of Baroda
SSE
FORM IV -COMPARITIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
[Rs.in lacs]
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
B. CURRENT LIABILITIES
(Other than bank borrowings for
Working capital)
10 Creditors for purchase of raw
materials, stores & consumable
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
spares
Months' purchase
11 Advances from customers
0.00
0.00
0.00
0.00
0.00
0.00
12 Statutory liabilities
0.00
0.00
0.00
0.00
0.00
0.00
25.00
25.00
25.00
25.00
25.00
25.00
0.00
0.00
0.00
0.00
0.00
0.00
25.00
25.00
25.00
25.00
25.00
25.00
25.00
25.00
25.00
25.00
25.00
25.00
13 Other current liabilities (specify major items)

Short term borrowing unsecured loans, dividend
payable
instalments of TL, DPG, Public deposits, debentures
etc.
14 Provision for Taxation & Gratuity

15 TOTAL
(To agree with sub total
B-Form III)
Page 12
Appendix
For Bank of Baroda
SSE
COMPUTATION OF BANK FINANCE
[Rs.in lacs]
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
1748.24
1988.90
2206.98
2359.35
2543.65
2707.11
25.00
25.00
25.00
25.00
25.00
25.00
1723.24
1963.90
2181.98
2334.35
2518.65
2682.11
190.26
233.98
281.08
311.76
350.42
383.87
523.24
763.90
981.98
1134.35
1318.65
1482.10
6. Item 3 minus item 4
1532.98
1729.93
1900.90
2022.59
2168.23
2298.24
7. Items 3 minus item 5
1200.00
1200.00
1200.00
1200.00
1200.00
1200.01
8. MAXIMUM PERMISSIBLE BANK FINANCE

(Item 6 or 7 whichever is lower)
Actual/ Projected Bank borrowings
9. Excess borrowing representing
short fall in WCG
1200.00
1200.00
0
1200.00
1200.00
0.00
1200.00
1200.00
0.00
1200.00
1200.00
0
1200.00
1200.00
0
1200.01
1200.00
0
1. Total Current Assets

(9 in Form IV)
2. Other Current Liabilities
(Other than bank borrowing)
(14 of Form IV)
3. Working Capital Gap (WCG)
(1-2)
4. Min. stipulaed net working capita
i.e.25% of WCG/25% of total
current assets as the case may be
depending upon the method of
lending being applied. (Export
receivables to be excluded under
both methods)
5. Actual/projected net working
capital (45 in Form III)
Page 13
Appendix
For Bank of Baroda
SSE
ANALYSIS OF PROFIT AND LOSS AC

Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
[Rs.in lacs]
1. Gross Sales
a) Net Exports(net of return
b) Local Sales
Less: Excise Duty
2. NET SALES
3. Other Income:
(a) Duty draw back and DEPB
(b) Profit on Invst.redemption
(c) Miscellaneous
Sub total
TOTAL INCOME
4. Raw Material consumed
- Imported
- Indigenous
5. Stores & spares
6. Power & fuel
7. Labour charges
8. Repairs and Maintenance
9. Other Mfg. Expenses
10. Depreciation
SUB TOTAL
Add: Opening Work in Process
Less: Closing Work in Proces
COST OF PRODUCTION
Add: Opening Finished goods
Less: Closing Finished goods
TOTAL COST OF SALES
11. Selling, General &
Administrative overhead
12. Interest
13. Exchange loss, if any
14. Miscellaneous Expenses
TOTAL EXPENSES
15. Profit Before Tax
16. Income tax/Provision
17. Net Profit
3948.76
0.00
0.00
3948.76
4212.00
0.00
0.00
4212.00
4330.63
0.00
0.00
4330.63
4449.25
0.00
0.00
4449.25
4567.88
0.00
0.00
4567.88
4686.50
0.00
0.00
4686.50
0.00
0.00
4.80
4.80
3953.56
0.00
0.00
4.94
4.94
4216.94
0.00
0.00
5.09
5.09
4335.72
0.00
0.00
5.24
5.24
4454.49
0.00
0.00
5.40
5.40
4573.28
0.00
0.00
5.56
5.56
4692.06
0.00
2848.05
348.75
0.00
65.37
0.00
6.24
7.08
3275.49
0.00
0.00
3275.49
0.00
329.06
2946.43
244.80
0.00
2759.20
390.60
0.00
71.53
0.00
6.56
5.11
3233.00
0.00
0.00
3233.00
329.06
351.00
3211.06
257.88
0.00
2842.80
426.69
0.00
77.59
0.00
6.88
3.76
3357.72
0.00
0.00
3357.72
351.00
360.89
3347.83
272.55
0.00
3003.40
465.39
0.00
84.09
0.00
7.25
2.80
3562.93
0.00
0.00
3562.93
360.89
370.77
3553.05
285.71
0.00
3010.00
506.88
0.00
91.10
0.00
7.62
2.12
3617.72
0.00
0.00
3617.72
370.77
380.66
3607.83
299.56
0.00
3093.60
551.37
0.00
98.66
0.00
7.99
1.62
3753.24
0.00
0.00
3753.24
380.66
390.54
3743.36
314.12
201.00
0.00
0.00
201.00
0.00
0.00
201.00
0.00
0.00
201.00
0.00
0.00
201.00
0.00
0.00
201.00
0.00
0.00
3392.23
561.33
196.47
364.86
364.86
3669.94
547.00
191.45
355.55
355.55
3821.38
514.34
180.02
334.32
334.32
4039.76
414.73
145.16
269.57
269.57
4108.39
464.89
162.71
302.18
302.18
4258.48
433.58
151.75
281.83
281.83
Page 14
Appendix
For Bank of Baroda
SSE
[Rs.in lacs]
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
LIABILITIES
SHAREHOLDERS FUNDS
1. Capital
2. Reserves- General
3. Reserves- Others
4. Revaluation Reserves
5. P & L Account (Profit)
300.00
0.00
0.00
0.00
244.86
300.00
0.00
0.00
0.00
480.41
300.00
0.00
0.00
0.00
694.73
300.00
0.00
0.00
0.00
844.30
300.00
0.00
0.00
0.00
1026.48
300.00
0.00
0.00
0.00
1188.31
544.86
780.41
994.73
1144.30
1326.48
1488.31
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
CURRENT LIABILITIES
14. Bank Borrowings
15. Borrowings -Associate Co
-Direc
-Other
16. Deposits from Dealers
17. Advance Payment from dea
18. Creditors - for goods
- Others
19. Provisions - for Tax
- for D
- Other
20. Interest payable
21. Other Current Liabilitie
1200.00
0
0
0.00
0.00
0
0.00
0
0.00
0
0.00
0
25.00
1200.00
0
0
0.00
0.00
0
0.00
0
0.00
0
0.00
0
25.00
1200.00
0
0
0.00
0.00
0
0.00
0
0.00
0
0.00
0
25.00
1200.00
0
0
0.00
0.00
0
0.00
0
0.00
0
0.00
0
25.00
1200.00
0
0
0.00
0.00
0
0.00
0
0.00
0
0.00
0
25.00
1200.00
0
0
0.00
0.00
0
0.00
0
0.00
0
0.00
0
25.00
Sub Total
1225.00
1225.00
1225.00
1225.00
1225.00
1225.00
TOTAL LIABILITIES
1769.86
2005.41
2219.73
2369.30
2551.48
2713.31
Sub total
TERM LIABILITIES
6. Term Loans - Banks
7. Term Loans - FI
8. Deposits payable after 1
9. Deferred Payment Credits
10. Advances from Dealers
11. Term Deposits
12. Debentures
13. Other Term Liabilities
Sub Total
Page 15
Appendix
For Bank of Baroda
SSE
[Rs.in lacs]
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
ASSETS
FIXED ASSETS
Gross Block
Less: Depreciation
Net Block
Capital Work in Process
Advances for Capital goods
Sub Total
28.70
7.08
21.62
0
0
21.62
28.70
12.19
16.51
0
0
16.51
28.70
15.95
12.75
0
0
12.75
28.70
18.75
9.95
0
0
9.95
28.70
20.87
7.83
0
0
7.83
28.70
22.49
6.21
0
0
6.21
Investment in Other Companies

Deferred Receivables
Goodwill/Misc.Expenses not wr
P & L Account (Loss)
Other Non Current Assets
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0
0.00
0.00
0.00
0.00
0
0.00
Sub Total
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
329.06
0.00
0.00
0.00
0.00
351.00
0.00
0.00
0.00
0.00
360.89
0.00
0.00
0.00
0.00
370.77
0.00
0.00
0.00
0.00
380.66
0.00
0.00
0.00
0.00
390.54
0.00
987.19
0.00
1053.00
0.00
1082.66
0.00
1112.31
0.00
1141.97
0.00
1171.63
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
401.99
30.00
0.00
0.00
0.00
0.00
554.90
30.00
0.00
0.00
0.00
0.00
733.43
30.00
0.00
0.00
0.00
0.00
846.27
30.00
0.00
0.00
0.00
0.00
991.02
30.00
0.00
0.00
0.00
0.00
1114.94
30.00
Sub Total
1748.24
1988.90
2206.98
2359.35
2543.65
2707.11
GRAND TOTAL
1769.86
2005.41
2219.73
2369.30
2551.48
2713.32
CURRENT ASSETS
Raw Material -Imported
Raw Material -Indigenous
Work in Process
Finished Goods
Stores & Spares
Debtors(less than 6 months)
- Exports
- Others
Debtors (more than 6 months)
- Exports
- Others
Loans and Advances
-Associate Companies
-Others
Advances to Suppliers
Deposits
Cash & Bank balances
Page 16
Appendix
For Bank of Baroda

SSE
WORKING CAPITAL ASSESSMENT

Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
Proj.
2013-14
Proj.
2014-15
A. HOLDING LEVELS: [In MONTHS]

Raw Materials - Imported
#DIV/0!
#DIV/0!
Raw Materials - Indigenous
0.00
0.00
0.00
0.00
0.00
0.00
Raw Materials -Total
0.00
0.00
0.00
0.00
0.00
0.00
Semi-finished goods
0.00
0.00
0.00
0.00
0.00
0.00
(1.34)
(1.31)
(1.29)
(1.25)
(1.27)
(1.25)
#DIV/0!
0.00
#DIV/0!
0.00
#DIV/0!
0.00
#DIV/0!
0.00
#DIV/0!
0.00
#DIV/0!
0.00
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
Finished Goods
Stores and spares - Imported
Stores and spares - Indigenous
Stores and spares [% of total raw
materials]
Receivables - Inland
- Export
(3.00)
Creditors
Other Current Assets/Total CA [%]
Other Current Liab./ WCG [%]
24.71%
1.45%
(3.00)
(3.00)
(3.00)
(3.00)
(3.00)
0.00
0.00
0.00
0.00
0.00
29.41%
1.27%
34.59%
1.15%
37.14%
1.07%
40.14%
0.99%
42.29%
0.93%
Page 17
Appendix
For Bank of Baroda
SSE
WORKING CAPITAL ASSESSMENT

[Rs.in lacs]
B. COMPUTATION OF MPBF
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
3948.76
0.00
3948.76
4212.00
0.00
4212.00
4330.63
0.00
4330.63
4449.25
0.00
4449.25
4567.88
0.00
4567.88
4686.50
0.00
4686.50
0.00
2848.05
348.75
0.00
2759.20
390.60
0.00
2842.80
426.69
0.00
3003.40
465.39
0.00
3010.00
506.88
0.00
3093.60
551.37
COST OF PRODUCTION
3275.49
3233.00
3357.72
3562.93
3617.72
3753.24
COST OF SALES
2946.43
3211.06
3347.83
3553.05
3607.83
3743.36
523.24
763.90
981.98
1134.35
1318.65
1482.10
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
329.06
351.00
360.89
370.77
380.66
390.54
0.00
0.00
0.00
0.00
0.00
0.00
RECEIVABLES - INLAND
- EXPORT
OTHER CURRENT ASSETS
0.00
987.19
431.99
0.00
1053.00
584.90
0.00
1082.66
763.43
0.00
1112.31
876.27
0.00
1141.97
1021.02
0.00
1171.63
1144.94
TOTAL CURRENT ASSETS
1748.24
1988.90
2206.98
2359.35
2543.65
2707.11
0.00
25.00
25.00
0.00
25.00
25.00
0.00
25.00
25.00
0.00
25.00
25.00
0.00
25.00
25.00
0.00
25.00
25.00
1723.24
1963.90
2181.98
2334.35
2518.65
2682.11
190.26
233.98
281.08
311.76
350.42
383.87
523.24
763.90
981.98
1134.35
1318.65
1482.10
1200.00
1200.00
1200.00
1200.00
1200.00
1200.01
1200.00
1200.00
1200.00
1200.00
1200.00
GROSS SALES
NET SALES - INLAND
- EXPORT
RAW MATERIALS CONSUMED IMPORTED
- INDIGENOUS
STORES AND SPARES CONSUMED
NET WORKING CAPITAL
RAW MATERIALS - IMPORTED

-INDIGENOUS
WORK IN PROCESS
FINISHED GOODS
STORES AND SPARES
SUNDRY CREDITORS
OTHER CURRENT LIABILITIES
TOTAL CURRENT LIABILITIES
WORKING CAPITAL GAP
25% OF CURRENT ASSETS (OTHER THAN
EXPORT RECEIVABLES)
ACTUAL/PROJ. NET WORKING CAPITAL
M P B F
ACTUAL/PROJECTED BANK
BORROWINGS
1200.00
Page 18
Appendix
0
EXCESS FINANCE, IF ANY
0.00
0.00
0.00
For Bank of Baroda

SSE
FUNDS FLOW STATEMENT
[Rs.in lacs]
1.
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
SOURCES
a) Net profit (before tax)
b) Depreciation
c) Increase in Capital
d) Increase in Term Liabilities
(incldg. Public deposits)
e) Decrease in
i) Fixed Assets
ii) Other non-current assets
f) Others: Increase in Reserves
g) Decrease in intangible assets
h) T O T A L
2.
Proj.
2010-11
547.00
5.11
0.00
0.00
514.34
3.76
0.00
0.00
414.73
2.80
0.00
0.00
464.89
2.12
0.00
0.00
433.58
1.62
0.00
0.00
(0.00)
0.00
0.00
0.00
552.11
0.00
0.00
0.00
0.00
518.10
0.00
0.00
0.00
0.00
417.53
4.24
0.00
0.00
0.00
471.25
3.24
0.00
0.00
0.00
438.44
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
120.00
0.00
191.45
311.45
240.66
(240.66)
0.00
0.00
120.00
0.00
180.02
300.02
218.08
(218.08)
0.00
0.00
120.00
0.00
145.16
265.16
152.37
(152.38)
0.00
0.00
120.00
0.00
162.71
282.71
188.54
(184.30)
0.00
0.00
120.00
0.00
151.75
271.75
166.69
(163.46)
0.00
0.00
0.00
0.00
0.00
240.66
0.00
218.08
0.00
152.38
(0.01)
184.30
4.24
163.46
3.24
0.00
0.00
0.00
0.00
0.00
0.00
240.66
(240.66)
0.00
218.08
(218.08)
0.00
152.38
(152.38)
0.00
184.30
(184.30)
0.00
163.46
(163.46)
USES
a) Net Loss
a) Decrease in Reserves
b) Decrease in Term Liabilities
(incldg. public deposits)
c) Increase in:
I) Fixed Assets
II) Other non current assets
d) Dividend payments
e) Others: Increase in Intangible assets
f) Income tax
g) T O T A L
3. Long Term Surplus (+)/Deficit(-) (1-2)
4. Increase/decrease in current assets
*(as per details given below)
5. Increase/decrease in current liabilities other than Bank borrowings
6. Increase/decrease in working capita
7. Net surplus (+)/deficit (-) (Difference of 3 & 6)
8. Increase/(decrease) in Bank borrowing
SHORT TERM SOURCE
SHORT TERM USE
SHORT TERM ( SURPLUS) /DEFICIT
Page 19
Appendix
For Bank of Baroda

SSE
FUNDS FLOW STATEMENT
(Break up of 4)*
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2013-14
Proj.
2014-15
(Increase)/Decrease in Raw materials
0.00
0.00
0.00
0.00
0.00
(Increase)/Decrease in Stock-in-process
0.00
0.00
0.00
0.00
0.00
(Increase)/Decrease in Finished goods
(21.94)
(9.89)
(9.88)
(9.89)
(9.88)
(Increase)/Decrease in Receivables
a) Domestic
b) Export
(Increase)/Decrease in Stores & spares
(65.81)
0.00
(65.81)
0.00
(29.66)
0.00
(29.66)
0.00
(29.66)
0.00
(29.66)
0.00
(29.66)
0.00
(29.66)
0.00
(29.66)
0.00
(29.66)
0.00
(152.91)
(178.53)
(112.84)
(144.75)
(123.92)
Increase/(Decrease) in Bank borrowings

0.00
Increase/(Decrease) in Sundry Creditors -Trade
Increase/(Decrease) in Other Current Liab.[ex.Bank
Borr.]
SHORT TERM SOURCE
0.00
SHORT TERM USE
240.66
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
218.08
0.00
0.00
152.38
0.00
0.00
184.30
0.00
0.00
163.46
0.00
-120.00
0.00
0.00
0.00
-120.00
0.00
0.00
0.00
-120.00
0.00
0.00
0.00
-120.00
0.00
0.00
0.00
-120.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
(Increase)/Decrease in other current

assets
0.00
0.00
NOTE:
Increase/decrease under items 4 to
as also under break-up of (4) shoul
be included by (+) (-).
Increase in Capital [company]

Increase in Capital [Others]
Increase in Reserves[company]
Decrease in Reserves [company]
Increase in Capital
Page 20
Appendix
For Bank of Baroda
SSE
SELECT FINANCIAL INDICATORS
[Rs.in lacs]
Capital
Reserves and Surplus
Accumulated losses
Tangible Net Worth
Net Working Capital
Current Ratio
Net Sales
Operating Profit
Other Income
Profit Before Tax
Profit After Tax
Depreciation
Operating Profit : Net Sales
Profit Before Tax: Net Sales
Profit After Tax: Net Sales
Bank Borrowings: Net Sales (%
Total Outside Liab.:Tangible Net Worth
Debt: Equity
PBIDT
PBIDT/ Net Sales [%]
Raw material consumption/Net Sales[%]
Employee cost/Net Sales [%]
Factory Overheads/Net Sales [%]
Cost of Production/Net Sales [%]
Cost of Sales/Net Sales [%]
Selling & Admn.overheads/Net Sales[%]
Bank borrowings/ Total Current Assets[%]
[Inventories+Receivables]/Bank
borrowings
[Inventories+Receivables]/Total CA
Proj.
2009-10
Proj.
2010-11
Proj.
2011-12
Proj.
2012-13
Proj.
2014-15
300.00
244.86
0
544.86
523.24
1.43
3948.76
556.53
4.80
561.33
364.86
7.08
14.09%
14.22%
9.24%
30.39%
2.25
0.00
769.41
19.48%
72.13%
1.66%
8.99%
82.95%
74.62%
6.20%
68.64%
300.00
480.41
0
780.41
763.90
1.62
4212.00
542.06
4.94
547.00
355.55
5.11
12.87%
12.99%
8.44%
28.49%
1.57
0.00
753.11
17.88%
65.51%
1.70%
9.43%
76.76%
76.24%
6.12%
60.33%
300.00
694.73
0
994.73
981.98
1.80
4330.63
509.25
5.09
514.34
334.32
3.76
11.76%
11.88%
7.72%
27.71%
1.23
0.00
719.10
16.60%
65.64%
1.79%
10.01%
77.53%
77.31%
6.29%
54.37%
300.00
844.30
0
1144.30
1134.35
1.93
4449.25
409.49
5.24
414.73
269.57
2.80
9.20%
9.32%
6.06%
26.97%
1.07
0.00
618.53
13.90%
67.50%
1.89%
10.62%
80.08%
79.86%
6.42%
50.86%
300.00
1188.31
0
1488.31
1482.10
2.21
4686.50
428.02
5.56
433.58
281.83
1.62
9.13%
9.25%
6.01%
25.61%
0.82
0.00
636.20
13.58%
66.01%
2.11%
11.94%
80.09%
79.88%
6.70%
44.33%
109.69%
75.29%
117.00%
70.59%
120.30%
65.41%
123.59%
62.86%
130.18%
57.71%
Page 21
Appendix
Graphs
Based on
CMA Data
Page 22
Appendix
Page 23
Appendix
Page 24
Appendix
Page 25
Appendix
Page 26
Appendix
Workings and Assumptions

for
Financial Projections
Page 27
Appendix
PROJECTED PROFIT & LOSS ACCOUNT

AMOUNT/RS. IN LACS
PARTICULARS/YEAR
INCOME
Sales
Other Income
Variation in Stock
TOTAL
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
3948.76
4.80
329.06
4282.62
4212.00
4.94
21.94
4238.88
4330.63
5.09
9.89
4345.61
4449.25
5.24
9.88
4464.37
4567.88
5.40
9.89
4583.17
4686.50
5.56
9.88
4701.94
2848.05
2759.20
2842.80
3003.40
3010.00
3093.60
348.75
13.20
65.37
6.24
15.60
216.00
390.60
14.70
71.53
6.56
16.38
226.80
426.69
17.20
77.59
6.88
17.20
238.15
465.39
17.60
84.09
7.25
18.06
250.05
506.88
18.04
91.10
7.62
18.96
262.56
551.37
18.52
98.66
7.99
19.91
275.69
3513.21
3485.77
3626.51
3845.84
3915.16
4065.74
EBITD
769.41
753.11
719.10
618.53
668.01
636.20
Interest & Bank Charges

On FLC Discounting
On working Capital EPC
Depreciation
SUB TOTAL
112.50
88.50
7.08
208.08
112.50
88.50
5.11
206.11
112.50
88.50
3.76
204.76
112.50
88.50
2.80
203.80
112.50
88.50
2.12
203.12
112.50
88.50
1.62
202.62
561.33
547.00
514.34
414.73
464.89
433.58
196.47
364.86
191.45
355.55
180.02
334.32
145.16
269.57
162.71
302.18
151.75
281.83
244.86
480.41
694.73
844.30
1026.48
EXPENSES
Consumption
Packaging, Forwarding and
Freight
Rent, rates & taxes
Salaries & Wages
Other Manufacturing Expenses
Administrative Expenses
Selling Expenses
TOTAL
PROFIT BEFORE TAX

Less: Provision for Taxation incl
FBT
PROFIT AFTER TAX
Add: Profit Brought Forward
Transfer to General Reserve
Dividend/Drawing
Dividend Tax@12.5%
120.00
0.00
120.00
0.00
120.00
0.00
120.00
0.00
120.00
0.00
120.00
0.00
NET PROFIT CARRIED OVER
244.86
480.41
694.73
844.30
1026.48
1188.31
PROFIT AFTER TAX

ADD:depreciation
OPERATING INFLOW
364.86
7.08
371.94
355.55
5.11
360.66
334.32
3.76
338.08
269.57
2.80
272.37
302.18
2.12
304.30
281.83
1.62
283.45
Page 28
Appendix
PROJECTED BALANCE SHEET
AMOUNT/RS. IN LACS
PARTICULARS/YEAR
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
LIABILITIES
Share Capital
Reserves & Surplus
Profit & Loss Account
300.00
0.00
244.86
300.00
0.00
480.41
300.00
0.00
694.73
300.00
0.00
844.30
300.00
0.00
1026.48
300.00
0.00
1188.31
FLC Discounting
Working Capital Loan - EPC
Other Loans
Current Liabilities
600.00
600.00
0.00
25.00
600.00
600.00
0.00
25.00
600.00
600.00
0.00
25.00
600.00
600.00
0.00
25.00
600.00
600.00
0.00
25.00
600.00
600.00
0.00
25.00
1769.86
2005.41
2219.73
2369.30
2551.48
2713.31
1769.86
2005.41
2219.73
2369.30
2551.48
2713.31
28.70
7.08
21.62
28.70
12.19
16.51
28.70
15.95
12.75
28.70
18.75
9.95
28.70
20.87
7.83
28.70
22.49
6.21
0.00
0.00
329.06
0.00
987.19
30.00
401.99
0.00
0.00
351.00
0.00
1053.00
30.00
554.90
0.00
0.00
360.89
0.00
1082.66
30.00
733.43
0.00
0.00
370.77
0.00
1112.31
30.00
846.27
0.00
0.00
380.66
0.00
1141.97
30.00
991.02
0.00
0.00
390.54
0.00
1171.63
30.00
1114.94
1769.86
0.00
2005.41
0.00
2219.73
0.00
2369.30
0.00
2551.48
0.00
2713.32
0.00
TOTAL
ASSETS
FIXED ASSETS
Gross Block
Depreciation
Net Block
CURRENT ASSETS
Investments
Raw Materials-21 DAYS
Finished Goods-30 DAYS
Work In Progress-7 DAYS
Sundry Debtors- 90 days
Cash & Bank Balances
TOTAL
Page 29
Appendix
PROJECTED FUND FLOW STATEMENT

AMOUNT/RS. IN LACS
PARTICULARS/YEAR
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
SOURCES
Inc. in share Capital
Profit before interest& tax
& dividend
Depreciation & Intangiable W/offs
Inc. in Loan
Inc. in Working capital loan
Inc. in other loan
Inc. in Sundry Creditors
300.00
642.33
0.00
748.00
0.00
715.34
0.00
615.73
0.00
665.89
0.00
634.57
7.08
600.00
600.00
0.00
25.00
5.11
0.00
0.00
0.00
0.00
3.76
0.00
0.00
0.00
0.00
2.80
0.00
0.00
0.00
0.00
2.12
0.00
0.00
0.00
0.00
1.62
0.00
0.00
0.00
0.00
2174.41
1769.86
753.11
355.55
719.10
618.53
668.01
636.19
28.70
0.00
329.06
0.00
987.19
30.00
196.47
0.00
201.00
0.00
0.00
0.00
21.94
0.00
65.81
0.00
191.45
120.00
201.00
0.00
0.00
9.89
0.00
29.66
0.00
180.02
120.00
201.00
0.00
0.00
9.88
0.00
29.66
0.00
145.16
120.00
201.00
0.00
0.00
9.89
0.00
29.66
0.00
162.71
120.00
201.00
0.00
0.00
9.88
0.00
29.66
0.00
151.75
120.00
201.00
0.00
0.00
0.00
TOTAL
1772.42
600.20
540.57
505.70
523.26
512.29
SURPLUS
401.99
152.91
178.53
112.83
144.75
123.91
OPENING BANK BALANCE
401.99
554.90
733.43
846.27
991.02
CLOSING BANK BALANCE
401.99
554.90
733.43
846.27
991.02
1114.93
401.99
0.00
554.90
0.00
733.43
0.00
846.27
0.00
991.02
0.00
1114.94
-0.01
TOTAL
APPLICATIONS
Inc. in Fixed Assets
Inc. in Raw Materials
Inc. in Finished Goods
Inc. in work in progress
Inc. in debtors
Inc. in other current assets
Payment of Tax
Investments
Payment of Interest
Repayment of Loan Against FD
Repayment of Tax Loans
Repayment of Term Loan
Page 30
Appendix
CALCULATION OF DEBT SERVICE COVERAGE RATIO

AMOUNT/RS. IN LACS
PARTICULARS/YEAR
PROFIT AFTER TAX
DEPRECIATION
TERM LOAN INTEREST
TOTAL ( A)
TERM LOAN INTEREST
TERM LOAN REPAYMENT
TOTAL ( B)
DSCR A/B
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
364.86
7.08
201.00
355.55
5.11
201.00
334.32
3.76
201.00
269.57
2.80
201.00
302.18
2.12
201.00
281.83
1.62
201.00
572.94
561.66
539.08
473.37
505.30
484.45
201.00
0
201.00
0
201.00
0
201.00
0
201.00
0
201.00
0
201.00
201.00
201.00
201.00
201.00
201.00
2.85
2.79
2.68
2.36
2.51
2.41
AVERAGE DSCR
2002.20
2.49
804.00
CALCULATION OF INCOME
TAX
AMOUNT/RS. IN LACS
PARTICULARS/YEAR
Profit before tax
ADD: Depn. As per Co's Act
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
LESS: Depn as per IT Act

Taxable Income
561.33
7.08
568.41
6.36
562.05
547.00
5.11
552.11
3.85
548.26
514.34
3.76
518.10
2.68
515.42
414.73
2.80
417.53
2.07
415.46
464.89
2.12
467.01
1.70
465.31
433.58
1.62
435.20
1.45
433.75
Income Tax @ 30+SC @ 10%
189.19
184.54
173.49
139.84
156.62
146.00
Page 31
Appendix
CALCULATION OF COST
BUILDING
P&M
ELEC.
INST
Estimates
Contingencies
Existing
Interest
140.00
10.00
101.64
0.00
70.00
5.00
351.33
0.00
25.00
Total Cost for Depreciation
251.64
426.33
54.20
Total As Above
Land
Furniture
Vehicle
29.20
0.00
732.17
200.00
40.24
47.04
Total Gross Block for Balance Sheet
1019.45
Sources of Project Finance

Mony Brought in by Promoters
Money to be Brought in by Promoters
Term Loan
Internal Accruals 2003-04
Internal Accruals 04-05 - 25%
Deferred Creditors
10.00
-405.52
15.00
360.66
84.52
10.34
Total Project Cost
75.00
Page 32
Appendix
Estimated sales per annum ( qty in Tons)
Particulars
Products Exported
Chilli Powder
Turmeric Powder
Corriander Seeds
Basmathi Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
Total
200910
201011
2011-12
2012-13
2013-14
2014-15
150
150
150
225
150
150
150
150
75
75
75
75
75
75
75
75
75
75
150
150
160
160
160
240
160
160
160
160
80
80
80
80
80
80
80
80
80
80
160
160
170
170
170
250
170
170
170
170
80
80
80
80
80
80
80
80
80
80
170
170
180
180
180
260
180
180
180
180
80
80
80
80
80
80
80
80
80
80
180
180
190
190
190
270
190
190
190
190
80
80
80
80
80
80
80
80
80
80
190
190
200
200
200
280
200
200
200
200
80
80
80
80
80
80
80
80
80
80
200
200
2325
2480
2580
2680
2780
2880
Page 33
Appendix
Estimated sales per annum ( Rates in Singapore Dollars per kg)

Rs. 32.50
Conversion 1 Singapore $ =
Particulars
2009-10 2010-11 2011-12 2012-13
Products Exported
Chilli Powder
Turmeric Powder
Corriander Seeds
Basmathi Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
4.00
4.00
2.50
5.00
4.00
1.00
2.00
2.00
8.00
8.00
10.00
8.00
8.00
8.00
8.00
8.00
8.00
10.00
6.00
6.00
4.00
4.00
2.50
5.00
4.00
1.00
2.00
2.00
8.00
8.00
10.00
8.00
8.00
8.00
8.00
8.00
8.00
10.00
6.00
6.00
4.00
4.00
2.50
5.00
4.00
1.00
2.00
2.00
8.00
8.00
10.00
8.00
8.00
8.00
8.00
8.00
8.00
10.00
6.00
6.00
4.00
4.00
2.50
5.00
4.00
1.00
2.00
2.00
8.00
8.00
10.00
8.00
8.00
8.00
8.00
8.00
8.00
10.00
6.00
6.00
2013-14
2014-15
4.00
4.00
2.50
5.00
4.00
1.00
2.00
2.00
8.00
8.00
10.00
8.00
8.00
8.00
8.00
8.00
8.00
10.00
6.00
6.00
4.00
4.00
2.50
5.00
4.00
1.00
2.00
2.00
8.00
8.00
10.00
8.00
8.00
8.00
8.00
8.00
8.00
10.00
6.00
6.00
Page 34
Appendix
Estimated Cost of Consumption in Tonnes
Particulars
Products Exported
200910
201011
2011-12
2012-13
2013-14
2014-15
Opening Stock
Chilli Powder
Turmeric Powder
Corriander Seeds
Basmathi Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10
10
10
20
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
20
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
20
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
20
20
20
20
20
20
20
20
10
10
10
10
10
10
10
10
10
10
20
20
20
20
20
20
20
20
20
20
10
10
10
10
10
10
10
10
10
10
20
20
Total
210
210
210
300
300
2011-12
2012-13
2013-14
2014-15
170
170
170
250
170
170
170
170
80
80
80
80
80
80
80
80
80
180
180
180
260
180
180
180
180
80
80
80
80
80
80
80
80
80
190
190
190
270
190
190
190
190
80
80
80
80
80
80
80
80
80
200
200
200
280
200
200
200
200
80
80
80
80
80
80
80
80
80
Particulars
Products Exported
Chilli Powder
Turmeric Powder
Corriander Seeds
Basmathi Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
200910
201011
Sales
150
150
150
225
150
150
150
150
75
75
75
75
75
75
75
75
75
160
160
160
240
160
160
160
160
80
80
80
80
80
80
80
80
80
Page 35
Appendix
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
Total
Particulars
Products Exported
Chilli Powder
Turmeric Powder
Corriander Seeds
Basmathi Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
Total
Particulars
Products Exported
Chilli Powder
Turmeric Powder
Corriander Seeds
Basmathi Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
75
150
150
80
160
160
80
170
170
80
180
180
80
190
190
80
200
200
2325
2480
2580
2680
2780
2880
2011-12
2012-13
2013-14
2014-15
200910
201011
Closing Stock
10
10
10
20
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
20
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
20
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
20
20
20
20
20
20
20
20
10
10
10
10
10
10
10
10
10
10
20
20
20
20
20
20
20
20
20
20
10
10
10
10
10
10
10
10
10
10
20
20
20
20
20
20
20
20
20
20
10
10
10
10
10
10
10
10
10
10
20
20
210
210
210
300
300
300
2011-12
2012-13
2013-14
2014-15
88
66
88
66
132
88
22
22
50
165
220
176
176
176
88
66
88
66
132
88
22
22
50
165
220
176
176
176
88
66
88
66
132
88
22
22
50
165
220
176
176
176
200910
201011
Purchase Price Per kg

88
66
88
66
132
88
22
22
50
165
220
176
176
176
88
66
88
66
132
88
22
22
50
165
220
176
176
176
88
66
88
66
132
88
22
22
50
165
220
176
176
176
Page 36
Appendix
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
Particulars
176
176
176
220
132
132
200910
176
176
176
220
132
132
201011
176
176
176
220
132
132
176
176
176
220
132
132
176
176
176
220
132
132
176
176
176
220
132
132
2011-12
2012-13
2013-14
2014-15
Products Exported - Purchase Quantity

Chilli Powder
Turmeric Powder
Corriander Seeds
Basmathi Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
Total
Particulars
Products Exported
Chilli Powder
Turmeric Powder
Corriander Seeds
Basmathi Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
160
160
160
245
160
160
160
160
85
85
85
85
85
85
85
85
85
85
160
160
160
160
160
240
160
160
160
160
80
80
80
80
80
80
80
80
80
80
160
160
170
170
170
250
170
170
170
170
80
80
80
80
80
80
80
80
80
80
170
170
190
190
190
260
190
190
190
190
80
80
80
80
80
80
80
80
80
80
190
190
190
190
190
270
190
190
190
190
80
80
80
80
80
80
80
80
80
80
190
190
200
200
200
280
200
200
200
200
80
80
80
80
80
80
80
80
80
80
200
200
2535
2480
2580
2770
2780
2880
2011-12
2012-13
2013-14
2014-15
167.20
125.40
167.20
171.60
250.80
167.20
41.80
41.80
40.00
132.00
176.00
167.20
125.40
167.20
178.20
250.80
167.20
41.80
41.80
40.00
132.00
176.00
176.00
132.00
176.00
184.80
264.00
176.00
44.00
44.00
40.00
132.00
176.00
200910
201011
Total Purchase Value

140.80
105.60
140.80
161.70
211.20
140.80
35.20
35.20
42.50
140.25
187.00
140.80
105.60
140.80
158.40
211.20
140.80
35.20
35.20
40.00
132.00
176.00
149.60
112.20
149.60
165.00
224.40
149.60
37.40
37.40
40.00
132.00
176.00
Page 37
Appendix
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
Total
Particulars
Products Exported
149.60
149.60
149.60
149.60
149.60
149.60
187.00
211.20
211.20
140.80
140.80
140.80
140.80
140.80
140.80
176.00
211.20
211.20
140.80
140.80
140.80
140.80
140.80
140.80
176.00
224.40
224.40
140.80
140.80
140.80
140.80
140.80
140.80
176.00
250.80
250.80
140.80
140.80
140.80
140.80
140.80
140.80
176.00
250.80
250.80
140.80
140.80
140.80
140.80
140.80
140.80
176.00
264.00
264.00
2848.05
2759.2
2842.8
3003.4
3010
3093.6
2011-12
2012-13
2013-14
2014-15
200910
201011
Value of Closing Stock
Chilli Powder
Turmeric Powder
Corriander Seeds
Basmathi Rice
Coffee Powder
Tea Powder
Rice Flour
Idly Rawa Powder
Green Gram Powder
Pure Ghee
Sambar Powder
Briyani Masala
Chicken Masala
Fish Curry Masala
Fish Fry Masala
Chicken Fry Masala
Chicken 555 Masala
Rasa powder Masala
Porridge (Rice)
Snack Powder Masala
8.80
6.60
8.80
13.20
13.20
8.80
2.20
2.20
5.00
16.50
22.00
17.60
17.60
17.60
17.60
17.60
17.60
22.00
13.20
13.20
8.80
6.60
8.80
13.20
13.20
8.80
2.20
2.20
5.00
16.50
22.00
17.60
17.60
17.60
17.60
17.60
17.60
22.00
13.20
13.20
8.80
6.60
8.80
13.20
13.20
8.80
2.20
2.20
5.00
16.50
22.00
17.60
17.60
17.60
17.60
17.60
17.60
22.00
13.20
13.20
17.60
13.20
17.60
13.20
26.40
17.60
4.40
4.40
5.00
16.50
22.00
17.60
17.60
17.60
17.60
17.60
17.60
22.00
26.40
26.40
17.60
13.20
17.60
13.20
26.40
17.60
4.40
4.40
5.00
16.50
22.00
17.60
17.60
17.60
17.60
17.60
17.60
22.00
26.40
26.40
17.60
13.20
17.60
13.20
26.40
17.60
4.40
4.40
5.00
16.50
22.00
17.60
17.60
17.60
17.60
17.60
17.60
22.00
26.40
26.40
Total
261.3
261.3
261.3
338.3
338.3
338.3
Page 38
Appendix
Good Luck
With Your
Project Finance Projections
Page 39

Proposal For Working Capital Loans

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1.0 Executive Summary ..................................................................................................................... 1

5.5.4 Distribution Strategy ..................................................................................................... 12

Table: Cash Flow .................................................................................................................................. 1

1.0 Executive Summary

Increase sales significantly over the next three years.

2.0 Company Summary

2.1 Company Ownership

2.3 Company Locations and Facilities

3.1 Product Description

3.2 Competitive Comparison

3.3 Sales Literature

4.1 Market Segmentation

Table: Market Analysis

Chart: Market Analysis (Pie)

4.2 Target Market Segment Strategy

4.3.1 Industry Participants

4.3.3 Competition and Buying Patterns

4.3.4 Main Competitors

5.0 Strategy and Implementation Summary

5.1 SWOT Analysis

5.2 Strategy Pyramid

5.5 Marketing Strategy

5.5.4 Distribution Strategy

5.6.1 Sales Forecast

Table: Sales Forecast

Direct Cost of Sales

Chart: Sales Monthly

Chart: Sales by Year

5.6.2 Sales Programs

5.7 Strategic Alliances

6.0 Management Summary

Org. Chart: Organizational Chart

6.2 Management Team

7.0 Financial Plan

Liabilities and Capital

Accounts Payable (Outstanding Bills)

Loss at Start-up (Start-up Expenses)

Total Capital and Liabilities

7.2 Important Assumptions

7.4 Break-even Analysis

Chart: Break-even Analysis

7.5 Projected Profit and Loss

Pro Forma Profit and Loss

Total Operating Expenses

Profit Before Interest and Taxes

Chart: Profit Monthly

Chart: Profit Yearly

Chart: Gross Margin Monthly

Chart: Gross Margin Yearly

7.6 Projected Cash Flow

Pro Forma Cash Flow

Non Operating (Other) Income

Expenditures from Operations

Additional Cash Spent

7.7 Projected Balance Sheet

Pro Forma Balance Sheet

Other Current Assets

Liabilities and Capital