SBI CAPITAL MARKETS LIMITED

1) Prepare an income statement, balance sheet and cash flow statement for the cement grinding project for the period 2020-2030
that all relevent items should be linked and not hardcoded. Please link your workings with the Assump
2) Please fill up the ratios as given in Worksheet titled "Ratios"
3) Please Complete NFBWC Assessment in LC Assessment Sheet
4) Please create quarterly debt schedule for interest and repayment
5) Please fill up CMA as provided based on financial statements as drawn by you
6) Please take tax rate at Corporate Tax Rate - No need to calculate DTA/DTL
7) Please email model as completed within 6 hours

ASSUMPTIONS
Particulars Capacity (million tons) Unit
Grinding Capacity 1.20 Million tons per annum

REVENUE
Price per ton Unit
Inland sales Rate - PPC 4,700.00 INR per ton
Export sales Rate- PPC 5,300.00 INR per ton
Export Sales as % of Total Sales 10%

Cost Assumptions Price (Rs./Unit) Input per tonne of output

Limestone 210.00 1.25
Correctional Materials 1,000.00 0.10
Gypsum 1,600.00 0.05
Coal 7,900.00 0.10
Power 5.60 80.00
Clinker 2,650.00 0.60
Fly Ash 700.00 0.25

Capacity Utilisation 80%

Sales General & Administrative costs 5% of total sales
Manpower Cost 5.00 Crores p.a.

IT Depreciation 15.00% Written Down Value Method

Book Depreciation 10.00 40 years useful life
Tax rate 34.61% Flat on PBT

BALANCE SHEET / WORKING CAPITAL

ASSUMPTIONS in days
of Limestone, Clinker, Coal &
RM Inventory 30.0 Fly Ash
Receivables 40.0 of Sales
Payables (Creditors) 15.0 Non LC backed
WIP Inventory 7.0 of production
FG Inventory 30 of net production

WC Loan 75% of Net Working Capital

WC Interest Rate 12.00% p.a.

NFBWC Assumptions
LC Purchases 40.00% of total purchase
Lead Time 5.00 days
Usance+ Transit 60.00 days
LC Charges 2% p.a
Only Domestic LC/ No Import LC

Existing Debt 250.00 Rs Cr

ROI 11.75% pa
Debt to be repaid quarterly over a period of 10 years as per following schedule
Yr 1 - Yr 3 8.00% per year
Yr 4- Yr 6 10.00% per Year
Yr7 - Yr 9 12.00% per Year
Yr 10 Balancing Figure

Opening Stock WIP Qty 23,000

Opening Stock FG Qty 53,000
RKETS LIMITED
grinding project for the period 2020-2030 (Financial Year is Apr - Mar). Please note
h the Assump

Comments
No escalation in sales price
No escalation in sales price

Comments

No escalation in Cost Assumptions

Assume same throughout the forecast period

Assume same throughout the forecast period
Particulars
EBITDA Margin
PAT Margin
Interest Coverage Ratio
TOL/TNW
Current Ratio
DSCR
Avg. DSCR
Min. DSCR
 Domestic LC: Projected Projected Projected

Annual Consumption
Add: Closing Stock
Less: Opening Stock

Annual Purchase 0.00 0.00 0.00

Procurement under LC (%)

Procurement under LC (Value) 0 0 0

Monthly RM Purchase under LC 0 0 0

a) Transit + Usance time (Avg. in days)

b) Lead Time (Avg. in days)

LC Limit Required (A) 0.00 0.00 0.00

LC Lead Time for which Creditors are

not
Created (Monthly RM out of LC*b/30)
(B) 0.00 0.00 0.00

Level of Creditors (LC backed) (A-B) 0.00 0.00 0.00

Import LC: Projected Projected Projected

Annual Consumption
Add: Closing Stock
Less: Opening Stock

Annual Purchase 0.00 0.00 0.00

Procurement under LC (%)

Procurement under LC (Value) 0 0 0

Monthly RM Purchase under LC 0 0 0

a) Transit + Usance time (Avg. in days)

b) Lead Time (Avg. in days)

LC Limit Required (A) 0.00 0.00 0.00

LC Lead Time for which Creditors are

not Created (Monthly RM out of
LC*b/30) (B) 0.00 0.00 0.00

Level of Creditors (LC backed) (A-B) 0.00 0.00 0.00

Total LC: Projected Projected Projected

Annual Purchase under LC 0.00 0.00 0.00

Procurement under LC (%)

Procurement under LC (Value) 0 0 0

Monthly RM Purchase under LC 0 0 0

LC Limit Required (A) 0.00 0.00 0.00

LC Lead Time for which Creditors are

not Created (Monthly RM out of
LC*b/30) (B) 0.00 0.00 0.00

Level of Creditors (LC backed) (A-B) 0.00 0.00 0.00

Financial Year
Total LC Limit required 0.00 0.00 0.00
Rate of Interest
Interest Cost 0.00 0.00 0.00

Liability for LC creditors 0.00 0.00 0.00

Projected Projected Projected Projected Projected Projected Projected

0.00 0.00 0.00 0.00 0.00 0.00 0.00

0 0 0 0 0 0 0

0 0 0 0 0 0 0

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

Projected Projected Projected Projected Projected Projected Projected

0.00 0.00 0.00 0.00 0.00 0.00 0.00

0 0 0 0 0 0 0

0 0 0 0 0 0 0
 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

Projected Projected Projected Projected Projected Projected Projected

0.00 0.00 0.00 0.00 0.00 0.00 0.00

0 0 0 0 0 0 0

0 0 0 0 0 0 0

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

FORM V
COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE
FOR WORKING CAPITAL

Financial Year Yr1

FIRST METHOD OF LENDING

1 Total Current Assets

2 Other Current Liabilities
(other than bank borrowings)

3 Working Capital Gap 0.00

4 Min. stipulated Net Working Capital 0.00

(25% of WCG)

5 Net Working Capital (Total Current assets - Total Current liabilities)

6 Item 3 minus item 4 0.00

7 Item 3 minus item 5 0.00

8 Maximum permissible bank finance 0.00

(lower of 6 or 7)

9 Excess borrowings representing 0.00

shortfall in NWC

SECOND METHOD OF LENDING

1 Total Current Assets 0.00

2 Other Current Liabilities 0.00
(other than bank borrowings)

3 Working Capital Gap 0.00

4 Min. stipulated Net Working Capital 0.00

(25% of Total Current Assets)

5 Net Working Capital (Total Current assets - Total Current liabilities)

6 Item 3 minus item 4 0.00

7 Item 3 minus item 5 0.00

8 Maximum permissible bank finance 0.00

(lower of 6 or 7)

9 Excess borrowings representing 0.00

shortfall in NWC
 Yr2 Yr3 Yr4 Yr5 Yr6 Yr7 Yr8 Yr9

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 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 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

Yr10

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
FINANCIAL YEAR
MONTHS OF OP

Raw Material
FG
WIP
Debtors
Total

RM Creditors

Net CA
Margin
Borrowing
Interest
Margin for first full year
 Quantity PMT Unit
Limestone 1.25 ton
Correctional Materials 0.10 ton
Gypsum 0.05 ton
Coal 0.10 ton
Power 80.00 Kwh
Clinker 0.60 ton
Fly Ash 0.25 ton

Installed Capacity
PPC 1.20 MTPA
1200000 TPA

CAPACITY UTILIZATION
FINANCIAL YEAR
Months of Operation
PPC(CAP UTILIZED)
EFFECTIVE CAP UTILIZATION

PRODUCTION & SALES

Production Qty
PPC
Add: Op stock WIP
Less: Cl Stock WIP
Goods Available for sale
Add: Op stock FG
Less: Cl Stock FG
Saleable Quantity
Sales (Value in Rs.)

RAW MATERIAL QTY

Limestone (kg)

Correctional Materials(kg)
Gypsum(kg)
Coal(kg)
Clinker(kg)
Fly Ash(kg)

RAW MATERIAL (VALUE in Crores Rs.)

Limestone
Correctional Materials
Gypsum
Coal
Clinker
Fly Ash
Raw Material Consumed
Less: Op Stock RM
Add: CL Stock RM
Raw Material Purchased

LC Backed
Non LC Backed

Other Costs
Power(KWHr)
Total Consumed
 Financial Year
Months of Op

RATE DEPRECIATION (COMPANIES ACT)

#REF! Beginning Block
Additions during the year
Gross Block
Depreciation
Accumulated Depreciation
Net Block

Rate Depreciation ( IT ACT)

#REF! OPENING Block

Additions During the year
Gross Block BEFORE DEP
Depreciation
CLOSING Block
P/L Statement
Sales
Domestic
Export
Total

Cost of RM Consumed
Power
Manpower

Add:Op Stock of WIP

Less:Closing Stock of WIP
Cost of Production

Selling & General Expenses

Depreciation
Add:Op Stock of FG
Less:Closing Stock of FG
Cost of Sales

EBITDA

Int on LT
Int on WC
LC charges
PBT
Tax
PAT
Cash Flow Statement

Closing Cash Balance

Particulars Yr 0
Equity Share capital 100
Reserves 75
Long Term Debt 230
Short Term Borrowing 50
Current Liabilities 25
Current Maturities of LTD 20
Total Liability 500

Gross Block 400

Accumulated Depreciation 10
Net Block 390
Current Assets
RM Stock 20
FG Stock 25
WP Stock 10
Receivables 50
Cash Balance 5
Total Assets 500
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
FORM II - OPERATING STATEMENT

Name:

Amounts in Rs. Lacs

Provisionals Estimates Projections Projections Projections Projections

Financial Year ended / ending 2019 2020 2021 2022 2023 2024
No.of months 12 12 12 12 12 12
1. Gross Sales
i. Domestic Sales
ii. Export Sales 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 0.00 0.00 0.00 0.00 0.00
2. Less Excise Duty 0.00 0.00 0.00
3. Net Sales (1 - 2) 0.00 0.00 0.00 0.00 0.00 0.00
4. % age rise (+) or fall (-) in net sales
as compared to previous year (annualised) 0.00% N/A N/A N/A N/A N/A
5. Cost of Sales
i. Raw materials (including stores and
other items used in the process of
manufacture) 0.00 0.00 0.00 0.00 0.00 0.00
a. Imported
b. Indigenous
ii. Other Spares 0.00 0.00 0.00 0.00 0.00 0.00
a. Imported
b. Indigenous
iii. Power and Fuel
iv. Direct Labour (Factory wages & salaries)
v. Other manufacturing expenses
vi. Depreciation
vii. Sub-total (i to vi) 0.00 0.00 0.00 0.00 0.00 0.00

viii. Add: Opening Stock-in-process 0.00 0.00 0.00 0.00 0.00 0.00
Sub-total (vii + viii) 0.00 0.00 0.00 0.00 0.00 0.00
ix. Deduct: Closing Stock-in-process
x. Cost of Production 0.00 0.00 0.00 0.00 0.00 0.00
xi. Add: Opening Stock of finished goods 0.00 0.00 0.00 0.00 0.00 0.00
Sub-total (x + xi) 0.00 0.00 0.00 0.00 0.00 0.00
xii. Deduct: Closing Stock of finished goods 0.00 0.00 0.00 0.00 0.00 0.00
xiii. Sub-total (Total Cost of Sales) 0.00 0.00 0.00 0.00 0.00 0.00

6. Selling, general and administrative expenses

7. Sub-total (5 + 6) 0.00 0.00 0.00 0.00 0.00 0.00
8. Operating Profit before Interest (3 - 7) 0.00 0.00 0.00 0.00 0.00 0.00
9. Interest

10. Operating Profit after Interest (8 - 9) 0.00 0.00 0.00 0.00 0.00 0.00
11. i. Add: Other non-operating Income
a. Sale of Fixed Assets 0.00 0.00 0.00 0.00 0.00 0.00
b. Others 0.00 0.00 0.00 0.00 0.00 0.00
c.
d.
Sub-total (Income) 0.00 0.00 0.00 0.00 0.00 0.00
ii. Deduct: Other non-operating expenses 0.00 0.00 0.00 0.00 0.00 0.00
a. Miscellaneous Expenses 0.00 0.00 0.00 0.00 0.00
b.
c.
d.
Sub-total (Expenses) 0.00 0.00 0.00 0.00 0.00 0.00
iii. Net of other non-operating income /
expenses [net of 11(i) & 11(ii)] 0.00 0.00 0.00 0.00 0.00 0.00
12. Profit before tax/loss [10 + 11(iii)] 0.00 0.00 0.00 0.00 0.00 0.00
13. a) Provision for taxes
b) Deferred for Tax Liability(-) Assets(+)
14. Net Profit / Loss (12 -13) 0.00 0.00 0.00 0.00 0.00 0.00
15. a. Equity dividend paid-amount
(Already paid + B.S. provision) 0.00 0.00 0.00 0.00 0.00 0.00
b. Dividend Rate (% age) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
c. Other Appropriations
16. Retained Profit (14 - 15) 0.00 0.00 0.00 0.00 0.00 0.00
17. Retained Profit / Net Profit (% age)

CASH ACCRUAL 0.00 0.00 0.00 0.00 0.00 0.00

 FORM III - ANALYSIS OF BALANCE SHEET
LIABILITIES

Name: 0

Provisionals Estimates
Financial Year ended / ending 2019 2020
No.of months 12 12
CURRENT LIABILITIES
1. Short-term borrowing from banks (including
bills purchased, discounted & excess
borrowing placed on repayment basis)
i. State Bank of India
ii. Others
iii. (of which BP & BD)
Sub-total [i + ii] (A) 0.00 0.00
2. Short term borrowings from others
3. Sundry Creditors (Trade)
4. Advance payments from customers /
deposits from dealers
5. Provision for taxation
6. Dividend payable
7. Other statutory liabilities (due within 1 year)
8. Deposits / instalments of term loans /
DPGs / debentures etc. (due within 1 year) 0.00 0.00
9. Other current liabilities & provisions
(due within 1 year) - specify major items 0.00 0.00
a. Other Outstanding Liabilities payable 0.00 0.00
b. Other Liabilities 0.00 0.00
c.
d.
Sub total [2 to 9] (B) 0.00 0.00
10. Total current liabilities [A + B] 0.00 0.00

TERM LIABILITIES
11. Debentures (not maturing within 1 year) 0.00 0.00
12. Preference Shares (redeemable after 1 year) 0.00 0.00
13. Term loans (excluding instalments
payable within 1 year)
14. Deferred Payment Credits (excluding
instalments due within 1 year)
15. Term deposits (repayable after 1 year)
16. Other term liabilities
17. Total Term Liabilities [11 to 16] 0.00 0.00
18. Total Outside Liabilities [10 + 17] 0.00 0.00

NET WORTH
19. Ordinary Share Capital
20. General Reserve
21. Revaluation Reserve
22. Other Reserves (excluding Provisions)
23. Surplus (+) or deficit (-) in Profit & Loss a/c 0.00 0.00
23. a. Share Application money
b. Share Premium Account
c. Deferred Tax Liability A/c
d. Others
e. Loan from Holding Co.
24. Net Worth 0.00 0.00

25. TOTAL LIABILITIES [18 + 24] 0.00 0.00

 FORM III - ANALYSIS OF BALANCE SHEET (Continued)
ASSETS

Amounts in Rs.

Name: 0

Provisionals Estimates
Financial Year ended / ending 2019 2020
No.of months 12 12
CURRENT ASSETS
26. Cash and Bank Balances
27. Investments (other than long term) 0.00 0.00
i. Govt. and other trustee securities
ii. Fixed Deposits with banks
28. i. Receivables other than deferred &
exports (incldg. bills purchased and
discounted by banks)
ii. Export receivables (incldg. bills
purchased/discounted by banks) 0.00 0.00
29. Instalments of deferred receivables
(due within 1 year) 0.00 0.00
30. Inventory: 0.00 0.00
i. Raw materials (including stores and
other items used in the process of
manufacture) 0.00 0.00
a. Imported 0.00 0.00
b. Indigenous 0.00 0.00
ii. Stocks-in-process 0.00 0.00
iii. Finished goods 0.00 0.00
iv. Other consumable spares 0.00 0.00
a. Imported
b. Indigenous 0.00 0.00
31. Advances to suppliers of raw materials
and stores/spares 0.00 0.00
32. Advance payment of taxes 0.00 0.00
33. Other current assets (specify major items) 0.00 0.00
a. Prepaid expenses
b.
c.
d.
34. Total Current Assets (26 to 33) 0.00 0.00

FIXED ASSETS
35 Gross Block (land, building, machinery,
work-in-progress)
36 Depreciation to date
37 Net Block (35 - 36) 0.00 0.00

OTHER NON-CURRENT ASSETS

38 Investments/book debts/advances/deposits
which are not current assets 0.00 0.00
 i. a. Investments in subsidiary
companies / affiliates 0.00 0.00
b. Others 0.00 0.00
ii. Advances to suppliers of capital goods
and contractors
iii. Deferred receivables (maturity
exceeding 1 year) 0.00 0.00
iv. Others 0.00 0.00
a. Security Deposit 0.00 0.00
b. Sales Tax under Appeal 0.00 0.00
c. Tax Deducted at Source 0.00 0.00
d. Others 0.00 0.00
39 Non-consumable stores and spares 0.00 0.00
40 Other non-current assets including
dues from directors
41 Total Other Non-current Assets (38 to 40) 0.00 0.00

42 Intangible Assets (patents, good will,

prelim.expenses, bad / doubtful debts not
provided for, etc.
43 Total Assets (34+37+41+42) 0.00 0.00
44 Tangible Net Worth (24 - 42) 0.00 0.00
45 Net Working Capital (34 - 10) 0.00 0.00

46 Current Ratio (34 / 10)

47 Total OUTSIDE Liabilities / Tangible
Net Worth (18 / 44)
48 Total TERM Liabilities / Tangible
Net Worth (17 / 44)

RATIOS NET OF REVALUATION

RESERVES
49 TANGIBLE NET WORTH (24-21-42) 0.00 0.00
50 TOTAL OUTSIDE LIAB/TNW #DIV/0! #DIV/0!
51 TOTAL TERM LIAB/TNW #DIV/0! #DIV/0!

ADDITIONAL INFORMATION
A. Arrears of depreciation
B. Contingent Liabilities:
i. Arrears of cumulative dividends
ii. Gratuity liability not provided for
iii. Disputed excise / customs /
tax liabilities
iv. Other liabilities not provided for
Amounts in Rs. Lacs

Projections Projections Projections Projections

2021 2022 2023 2024
12 12 12 12

0.00 0.00 0.00 0.00

0.00

0.00 2020.00 2030.00 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 2020.00 2030.00 0.00

0.00 2020.00 2030.00 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 2020.00 2030.00 0.00

0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00

0.00 2020.00 2030.00 0.00

 Lacs

Projections Projections Projections Projections

2021 2022 2023 2024
12 12 12 12

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 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 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 -2020.00 -2030.00 0.00

#DIV/0! #DIV/0!

0.00 0.00 0.00 0.00

#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!