M/S

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
FORM - I : ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

PART A-OPERATING STATEMENT

[Rs. in lacs]
31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
PARTICULARS Audited Audited Current Year Following year Following year
Actuals Actuals Provisional Estimates Projections
[1] [2] [3] [4] [5]

1. Gross sales (net of returns) 675.75 859.17 900.13 985.00 1,083.50

2. Less: duties and taxes 0.00 0.00 0.00 0.00 0.00

3. Net sales (item 1 minus item 2) 675.75 859.17 900.13 985.00 1,083.50

4. Cost of sales

i)Purchases (including stores & other items)

(a) Imported 0.00 0.00 0.00 0.00 0.00
(b) Indigenous 387.24 466.51 458.66 496.00 539.23
ii)Other spares (incl.store etc) 0.00 0.00 0.00 0.00 0.00
iii)Power and fuel 8.19 7.44 12.35 13.50 14.68
iv)Direct labour / Wages etc 212.07 302.34 325.29 350.00 380.50
v)Repairs and maintenance 2.15 3.47 9.17 10.00 10.87
vi)Other direct expenses 12.92 12.41 11.97 13.00 14.13
vii)Depreciation 6.31 6.99 9.19 19.00 16.43

viii)Sub-total (itens i to vii) 628.88 799.16 826.63 901.50 975.84

ix)Add: Opening stocks-in-transit 0.00 0.00 0.00 0.00 0.00

Sub-total 628.88 799.16 826.63 901.50 975.84

x)Deduct:Closing stocks-in-transit 0.00 0.00 0.00 0.00 0.00

 xi)Sub-total ( Cost of purchase) 628.88 799.16 826.63 901.50 975.84

xii)Add:Opening stocks of raw material/finished 26.04 36.80 47.81 56.24 78.00

goods

Sub-total 654.92 835.96 874.44 957.74 1,053.84

xiii)Deduct:Closing stocks of raw material/finished 36.80 47.81 56.24 78.00 89.00

goods

xiv)Sub-total (Total cost of sales) 618.12 788.15 818.20 879.74 964.84

5. Gross Profit(item 3 minus item 4) 57.63 71.02 81.93 105.26 118.66

6. Financial Charges 8.15 13.15 12.90 17.00 18.70

7. Selling general and admin. Expenses 30.48 33.55 35.98 42.00 46.20

Sub-total [ item 6 plus item 7 ] 38.63 46.70 48.88 59.00 64.90

8. Opereting profit [item 5 minus 19.00 24.32 33.05 46.26 53.76

total of items sub-total of 6&7]

9. Other income/expenses
Add: Income 0.00 0.00 0.00 0.00 0.00
Deduct : expenses 0.00 0.00 0.00 0.00 0.00

Sub-total [+] / [-] 0.00 0.00 0.00 0.00 0.00

10.Profit before Interest & Remunearation 19.00 24.32 33.05 46.26 53.76
[ item 8 plus item 9 ]

11.Partners' Interest & Remuneration 14.85 17.97 25.52 30.07 34.95

12.Net profit [+]/ loss [-] 4.15 6.35 7.53 16.19 18.82
(item 10 minus/plus item 11 )

13.Cash Profit (item 4(vii) plus 25.31 31.31 42.24 65.26 70.19
item 12
PART -B POSITION REGARDING CURRENT ASSETS & CURRENT LIABILITIES [Rs. in lacs] [Rs. in lacs]
---------------------------------------------------------------------------------------------------------------------------------
Audited Audited Current Year Following year Following year
PARTICULARS Actuals Actuals Provisional Estimates Projections
31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022

I. Current assets :
i)Raw materials (including stores )
(a) Imported (months consumption) 0.00 0.00 0.00 0.00 0.00

(b) Indigenous 5.30 36.70 55.86 40.00 43.49

(Months consumption) 0.16 0.94 1.46 0.97 0.97

ii)Other consumable spares excluding 0.00 0.00 0.00 0.00 0.00

those included under item(i)above

iii)stock-in-transit (Month's cost of 0.00 0.00 0.00 0.00 0.00

production)

iv)Finished/Traded goods 31.50 11.11 0.37 38.00 45.51

( Months' cost of sales ) 0.61 0.17 0.01 0.52 0.57

v)Receivables other than export and 64.33 95.49 129.90 184.93 210.97
deferred receivables ( including
bill purchesed and discounted by
bankers ) (Months' domestic sales 1.14 1.33 1.73 2.25 2.34
excluding deferred payment sales)

iv)Export recivable (including bills 0.00 0.00 0.00 0.00 0.00

purchased and discounted by Bankers)
(Months export sales)

vii)Advances to suppliers 0.56 3.44 62.01 0.00 15.00

viii)Other current assets including cash 38.01 25.50 18.65 25.00 35.50
and bank balances and deferred receivable
due within one year.(major items to be
specified individully)
Total current assets ( to agree with 139.70 172.24 266.79 287.93 350.47
item 38 in form II)
II. Current Liabilities
(Other than bank borrowing for
working capital)

i)Creditions for purchases of raw material 27.03 40.78 72.98 52.00 56.53
and stores and consumable spares
(Month's purchase) 0.84 1.05 1.91 1.26 1.26

ii) Advances from customers 0.00 0.00 0.00 0.00 0.00

iii)Accured expenses 4.66 1.87 0.00 0.00 0.00

iv)Statutory liabilities 0.45 1.85 0.59 3.20 3.52

v)Other current liabilities (major items 0.00 0.00 2.31 0.00 0.00
to be specified individually)

Sub Total 32.14 44.50 75.88 55.20 60.05

(to agree with sub-total [B] in Form II)

III. Working capital gap (I minus II) 107.56 127.74 190.91 232.73 290.42

IV. Actual/projected bank borrowings for 30.22 26.36 27.99 100.00 100.00
working capital including bills purcha-
sed and discounted & excess borrowing
placed on payment basis (to agree with
sub total [A] in Form II)

V. Total current liabilities ( III plus 62.36 70.86 103.87 155.20 160.05
IV) ( to agree with item 13 in Form II)

VI. Net working capital (I minus V) 77.34 101.38 162.92 132.73 190.42
(to agree with item 49 in Form II)
PART C - Computation of Maximum Permissible Bank Finance For Working Capital
[Rs. in lacs] [Rs. in lacs]
Audited Audited Current Year Following year Following year
PARTICULARS Actuals Actuals Provisional Estimates Projections
31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
1st METHOD OF LENDING
1. Working Capital Gap (Item III of Part B) 107.56 127.74 190.91 232.73 290.42

2. Minimum stipulated net working 26.89 31.94 47.73 58.18 72.60

Capital (25% of Item 1)

3. Actual/projected net working 77.34 101.38 162.92 132.73 190.42

capital (Item VI of Part B)

4. Item 1 minus item 2 80.67 95.81 143.18 174.55 217.81

5. Item 1 minus item 3 30.22 26.36 27.99 100.00 100.00

6. Maximum permissible bank finance 30.22 26.36 27.99 100.00 100.00

( Item 4 or item 5 whichever is lower)

7. Excess borrowings (representing short 0.00 0.00 0.00 0.00 0.00

fall in net working capital
(Item 2 minus item 3)
2nd METHOD OF LENDING
8. Working Capital Gap 107.56 127.74 190.91 232.73 290.42
(Item III of Part B)
9. Minimum stipulated net working 34.93 43.06 66.70 71.98 87.62
Capital (25% of Item I)

10. Actual/projected net working 77.34 101.38 162.92 132.73 190.42

capital (Item VI of Part B)
11. Item 8 minus item 9 72.64 84.68 124.21 160.75 202.80

12. Item 8 minus item 10 30.22 26.36 27.99 100.00 100.00

13. Maximum permissible bank finance 30.22 26.36 27.99 100.00 100.00
(Lower of Item 11 or item 12)

14. Excess borrowings 0.00 0.00 0.00 0.00 0.00

PART - D : Break up of proposed Credit Facilities - Summary

(i) Short term loan 0.00 0.00 0.00 0.00 0.00

(loan for working capital)

(ii) Cash Credit: 30.22 26.35 27.99 100.00 100.00

(iii) Packing Credit 0.00 0.00 0.00 0.00 0.00

(iv) Bills Purchased and Discounted
(a) Inland 0.00 0.00 0.00 0.00 0.00
(b) Foreign 0.00 0.00 0.00 0.00 0.00
(v) Working Capital term loan 0.00 0.00 0.00 0.00 0.00
(Excess borrowing)

PART E - PROFORMA STATEMENT OF STOCKS AND RECEIVABLES

Audited Audited Current Year Following year Following year
PARTICULARS Actuals Actuals Provisional Estimates Projections
31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022

a) Raw Materials (including stores and other

items used in the process of manufacturer)
[i] Imported (...... Months' consumption) 0.00 0.00 0.00 0.00 0.00
[ii] Indigenous (......Months' consumption) 5.30 36.70 55.86 40.00 43.49

b) Other consumable spares (-% of total 0.00 0.00 0.00 0.00 0.00
inventory and Months' consumption) 0.00 0.00 0.00 0.00 0.00

c) Stock-in-process 0.00 0.00 0.00 0.00 0.00

(.......Months' cost of production)

d) Finished goods 31.50 11.11 0.37 38.00 45.51

(-Months' cost of sales) 0.61 0.17 0.01 0.52 0.57

e) Receivables (other than export and 64.33 95.49 129.90 184.93 210.97
deferred receivables including
bills purchased and discounted by bankers)
(- Months' domestic sales) 1.14 1.33 1.73 2.25 2.34

f) Export receivables (including bills 0.00 0.00 0.00 0.00 0.00

purchased and discounted by bankers)
(- Months' export sales)
FORM II - ANALYSIS OF BALANCE SHEET- :
PART A : BALANCE SHEET SPREAD
Audited Audited Current Year Following year Following year
LIABILITIES Actuals Actuals Provisional Estimates Projections
31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022

CURRENT LIABILITIES

1 Short-term borrowings from bank (including 30.22 26.36 27.99 100.00 100.00
bills purchased and the excess borrowings
placed on repayment basis)

(i) from other banks 0.00 0.00 0.00 0.00 0.00

(ii) from financial institutions 0.00 0.00 0.00 0.00 0.00

Sub-total (A) 30.22 26.36 27.99 100.00 100.00

2 Short-term borrowings from others 0.00 0.00 0.00 0.00 0.00

3 Deposits (maturing within one year) 0.00 0.00 0.00 0.00 0.00

4 Sundry creditors (Trade) 27.03 40.78 72.98 52.00 56.53

5 Unsecured loans 0.00 0.00 0.00 0.00 0.00

6 Advances/progress payments from customers 0.00 0.00 0.00 0.00 0.00

/deposit from dealers, selling agents etc.

7 Interest and other charges accrued 0.00 0.00 0.00 0.00 0.00
but not due for payment

8 Provision for taxation 0.00 0.00 0.00 0.00 0.00

9 Dividend payable N. A. N. A. N. A. N. A. N. A.

10 Other statutory liabilities (due 0.45 1.85 0.59 3.20 3.52

within one year)
11 Instalments of term loans/deferred payment 0.00 0.00 0.00 0.00 0.00
credits/debentures/redeemable preference
shares (due withinone year)

12 Other current liabilities and provisions 4.66 1.87 2.31 0.00 0.00
(due within one year) (major
items to be specified individually)
Sub-total (B) 32.14 44.50 75.88 55.20 60.05

13 Total current liabilities (total 62.36 70.86 103.87 155.20 160.05

of item 1 to 12)

TERM LIABILITIES
14 Debentures (not maturing within N. A. N. A. N. A. N. A. N. A.
one year)

15 Redeemable preference shares (not N. A. N. A. N. A. N. A. N. A.

maturing within one year, but of
maturity not exceeding 12 years)

16 Term Loans(exclusive of instalments 2.45 0.00 0.00 0.00 0.00

payable within one year)

17 Deferred payments credits(exclusive 0.00 0.00 0.00 0.00 0.00

of instalments payable within one year)

18 Term deposits (repayable after one year) 61.74 84.40 108.95 97.50 85.00
(Unsecured loans)

19 Other term liabilities 0.00 0.00 0.00 0.00 0.00

20 Total Term Liabilities 64.19 84.40 108.95 97.50 85.00

(item 14 to item 19)

21 Total Outside Liabilities 126.55 155.26 212.82 252.70 245.05

(item 13 plus item 20)
 NET WORTH

22 Ordinary capital (Net of Withdrawals) 41.68 40.30 77.18 110.23 156.49

23 Preference share capital N. A. N. A. N. A. N. A. N. A.

(maturing after 12 years)

24 General Reserve N. A. N. A. N. A. N. A. N. A.

25 Development rebate reserve N. A. N. A. N. A. N. A. N. A.

26 Other reserves N. A. N. A. N. A. N. A. N. A.
( Capital Reserve)

27 Surplus(+) or deficit(-) in profit 19.00 24.32 33.05 46.26 53.76

and loss account

28 Net Worth (Total of item 22 to 27) 60.68 64.62 110.23 156.49 210.25

29 Total Liabilities 187.23 219.88 323.05 409.19 455.31

(item 21 plus item 28)

Audited Audited Current Year Following year Following year

ASSETS Actuals Actuals Provisional Estimates Projections
31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022

CURRENT ASSETS

30 Cash and Bank balances 0.49 2.40 2.75 4.50 5.00

31 Investments (other than long term

investments e.g. Sinking Fund,
Gratuity Fund etc.)

(i) Goverment and other trustee 0.00 0.00 0.00 0.00 0.00
securities
(ii)Fixed Deposits with Banks 0.00 0.00 0.00 0.00 0.00
32 (i) Receivable other than deferred 64.33 95.49 129.90 184.93 210.97
and export receivables (includ-
ing bills purchased and discoun-
ted by bankers)

(ii) Export receivables (including 0.00 0.00 0.00 0.00 0.00

bills purchased and discounted
by bankers)

33 Instalments of deferred receivables 0.00 0.00 0.00 0.00 0.00

(due within one year)

34 Inventory

(i) Raw materials (including stores

and other items used in the
process of manufacture)

(a) Imported 0.00 0.00 0.00 0.00 0.00

(b) Indigenous 5.30 36.70 55.86 40.00 43.49

(ii) Stock-in-process 0.00 0.00 0.00 0.00 0.00

(iii) Finished goods 31.50 11.11 0.37 38.00 45.51

(iv) Other consumable spares 0.00 0.00 0.00 0.00 0.00

35 Advances to suppliers of raw mater- 5.44 3.44 62.01 0.00 15.00

ial and stores/spares consumabals

36 Advance payment of taxes 0.00 0.00 0.00 0.00 0.00

37 Other current assets(major items to 34.20 23.10 15.90 20.50 30.50

be specified individually) -

38 Total Current Assets 141.26 172.24 266.79 287.93 350.47

(Total of items 30 to 37)
 FIXED ASSETS

39 W. D. V. (land and building, machinery, 49.85 52.53 65.45 140.26 121.26

construction-in-progress etc.)

40 Depreciation for the year 6.31 6.99 9.19 19.00 16.43

41 Net block (item 39 minus item 40) 43.54 45.54 56.26 121.26 104.83

OTHER NON-CURRENT ASSETS

42 Investments/book debts/advances/ 0.00 0.00 0.00 0.00 0.00

deposits which are not current assets

(i) (a) Investments in subsidiary 0.00 0.00 0.00 0.00 0.00

companies/affiliates
(b) Others 0.00 0.00 0.00 0.00 0.00

(ii) Advances to suppliers of capital, 0.00 0.00 0.00 0.00 0.00

goods spares and constuctors for
capital expenditure

(iii) Deferred receivable other than 0.00 0.00 0.00 0.00 0.00
those maturing within one year

(iv) Others : Deposits 2.10 2.10 0.00 0.00 0.00

43 Non-consumable Stores and spares 0.33 0.00 0.00 0.00 0.00

44 Other miscellaneous assets including 0.00 0.00 0.00 0.00 0.00

dues from directors

45 Total other non-current assets 2.43 2.10 0.00 0.00 0.00

(Total for items 42 to 44)

46 Intangible Assets(patents,goodwill, 0.00 0.00 0.00 0.00 0.00

preliminary and formation expenses
bad/doubtful debts not provided for etc.)
47 Total Assets (Total of items 38,41, 187.23 219.88 323.05 409.19 455.30
45 and 46)

48 Tangible Net Worth (item 28 minus 60.68 64.62 110.23 156.49 210.25
item 46)

49 Net Working Capital (item 38 minus 78.90 101.38 162.92 132.73 190.42
item 13)

PART B - ANALYTICAL AND COMPARATIVE RATIOS

[Rs. in lacs] [Rs. in lacs]
Audited Audited Current Year Following year Following year
PARTICULARS Actuals Actuals Provisional Estimates Projections
31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
1 Net sales (item 3 in Form I) 675.75 859.17 900.13 985.00 1,083.50

2 % rise [+] or fall [-] in net sales during 768.91 27.14 4.77 9.43 10.00
the year as compared to previous year

3 Profit before interst, depreciation & tax 39.77 51.45 64.33 101.26 105.32

4 Net profit (i.e. after tax) [+] or 4.15 6.35 7.53 16.19 18.82
loss [-] (item 12 in Form I)

5 a) Additions/Withdrawals by partners
b) Equity dividend paid NIL NIL NIL NIL NIL
c) Rate % of [a] 0.00 0.00 0.00 0.00 0.00
d) Rate % of [b] 0.00 0.00 0.00 0.00 0.00

6 Retained profit 4.15 6.35 7.53 16.19 18.82

7 Retained profit as % of Net Profit 100.00 100.00 100.00 100.00 100.00

8 Raw materials (including stores and

other items used in the process of mfg)
a) Imported (item 34 [i][a] in form 0.00 0.00 0.00 0.00 0.00
II). Haw many Months' consump-
tion do these represent ? 0.00 0.00 0.00 0.00 0.00
 b) Indegenous ( item 34 [i] [b] in 5.30 36.70 55.86 40.00 43.49
Form II ). How many months'
consumption do these represent ? 0.16 0.94 1.46 0.97 0.97

9 Stocks-in -process (item 34 [ii] in Form II) 0.00 0.00 0.00 0.00 0.00
How many months' cost of production N.A. N.A. N.A. N.A. N.A.
do these represent ? for exports

10 Finished goods (item 34 (iii) in Form II) 31.50 11.11 0.37 38.00 45.51
How many months' cost of sales do 0.61 0.17 0.01 0.52 0.57
these represent ?
11 Other consumable spares (item 34 0.00 0.00 0.00 0.00 0.00
[iv] Form II)
What is the percentage to total in- 0.00 0.00 0.00 0.00 0.00
ventory and how many months normal
consumption do these represent ? 0.00 0.00 0.00 0.00 0.00

12 a) Receivable other than deferred 64.33 95.49 129.90 184.93 210.97

receivables and export receiv-
bles (including bills purchased
and discounted by bankers)(item
32 [i] in Form II)
How many months' domestic sales 1.14 1.33 1.73 2.25 2.34
other than sales on deferred pay-
ment basis do these represent ?

b) Export receivables 0.00 0.00 0.00 0.00 0.00

c) Deferred receivables 0.00 0.00 0.00 0.00 0.00

13 Sundry creditors [Trade] (item 4 in 27.03 40.78 72.98 52.00 56.53

Form II) - How many months' purchase 0.84 1.05 1.91 1.26 1.26
do these represent ?

14 Net working capital (item 49 in Form II) 78.90 101.38 162.92 132.73 190.42
15 Current Ratio 2.27 2.43 2.57 1.86 2.19

16 Gross Profit Ratio 8.53 8.27 9.10 10.69 10.95

17 Net Profit Ratio 2.81 2.83 3.67 4.70 4.96

18 Tangible net worth (item 48 in Form II) 60.68 64.62 110.23 156.49 210.25

19 a) Total outsides liabilities/tan- 2.09 2.40 1.93 1.61 1.17

gible net worth (item 21/item 48 Form II)

b) Total term liabilities/tangible 1.06 1.31 0.99 0.62 0.40

net worth (item 20/item 48 in Form II)

20 a) Bank borrowings/Total outside 0.24 0.17 0.13 0.40 0.41

liabilities (item 1/item 21 in Form II)
b) Net sales/Total tangible assets 3.61 3.91 2.79 2.41 2.38
(item 3 in Form I / item 47
minus item 46 in Form II)