SECTION II - FINANCIAL PARAMETERS AND ASSESSMENT

Particulars Actual Actual Estimated Projected

31.03.2018 31.03.2019 31.03.2020 31.03.2021
Balance Sheet Data/Capital Structure
Paid Up capital:
Equity Share capital 9.75 16.75 20.54 25.24
Reserves & Surplus (excl. Rev.
reserves & net of intangibles) 0.00 0.00 0.00 0
Share Application Money 0.00 0.00 0.00 0
Surplus in profit and Loss A/c 0.00 0.00 0.00 0.00
Tangible Networth 9.75 16.75 20.54 25.24
Deferred Tax Liability 0 0 0 0
Adjusted Networth 9.75 16.75 20.54 25.24
Net Owned Fund 8.12 14.35 17.13 20.74
Term Liabilities 4.29 3.51 0.00 0.00
of which,
Term Loans 4.29 3.51 0 0

Unsecured Loans (Quasi equity) 0 0 0 0

Other Long Term Provisions 0.00 0.00 0.00 0.00
Capital Employed 14.04 20.26 20.54 25.24
Net Block (including CWIP &
excluding Intangibles) 12.88 11.2 10.15 9.67
Capital WIP 0 0 0 0
Funds invested outside business 1.63 2.40 3.41 4.5
Other Non-current assets 0 0 0 0
Current Assets 10.15 13.10 17.74 21.74
of which,
Inventories 5.1 10.47 15.73 17.98
Debtors 0.2 0.56 0.2 1.15
Cash & Bank Balance 4.11 1.86 1.36 1.92
Other current assets 0.00 0.00 0.00 0.00
Fixed Deposits with banks 0.74 0.21 0.45 0.69
Current Liabilities 6.34 6.44 10.76 10.67
of which,
Creditors / LC Creditors 0.00 0.00 0.76 0.67
Bank Borrowings 6.34 6.44 10.00 10.00
Provision for taxes 0.00 0.00 0.00 0
Other Liabilities/provisions 0 0 0 0
Net Current Assets 3.81 6.66 6.98 11.07
Capital Deployed 18.32 20.26 20.54 25.24
Tally -4.28 0.00 0.00 0.00
Operational Data:
Gross Sales 24.89 38.28 42.58 48.96
Less: Excise/Sales Tax 0.00 0.00 0.00 0.00
Net sales 24.89 38.28 42.58 48.96
of which exports 0 0 0 0
Other income 0 0 0.52 0.65
Exceptional Item 0.00 0.00 0.00 0
Operating Expenditure 18.67 30.63 33.29 38.61
Admn. Selling expenses 1.83 3.45 2.48 2.62
Other Non Operating Expenses 0.00 0.00 0.00 0
Depreciation 0.62 0.65 0.56 0.47
Interest 0.25 0.30 0.13 0.36
Net profit before tax 3.52 3.25 6.64 7.55
Tax provisions 0.00 0.00 0.00 0
Net profit after tax 3.52 3.25 6.64 7.55
Dividend 0.00 0.00 0.00 0
Cash accruals 4.14 3.90 7.20 8.02

Ratio Analysis:

Operating Profit margin 17.64% 10.97% 17.21% 17.12%

PBT/NS (in %) 14.14% 8.49% 15.59% 15.42%
PAT/NS (in %) 14.14% 8.49% 15.59% 15.42%
PAT/Capital Employed 25.07% 16.04% 32.33% 29.91%
PAT/TNW 36.10% 19.40% 32.33% 29.91%
Return on capital employed (in % 26.85% 17.52% 30.43% 28.76%
Current Ratio (Considering TL ins 1.60 2.03 1.65 2.04
Current Ratio (without considering 1.60 2.03 1.65 2.04
DE Ratio (TTL/TNW) 0.44 0.21 0.00 0.00
DE Ratio (TOL/TNW) 1.09 0.59 0.52 0.42
Interest Coverage Ratio 17.56 14.00 56.38 23.28
Inventory Holding level (days) 99.71 124.76 172.47 169.97
Receivables holding level (days) 2.93 5.34 1.71 8.57
For holding level calculation:

Closing stock of raw materials

Closing stock of WIP
Closing stock of Finished goods
Others
Total 5.10 10.47 15.73 17.98
Cost of sales 18.67 30.63 33.29 38.61
Days

Debtors 0.20 0.56 0.20 1.15

Other Current Assets :

Particulars
Advances to suppliers of RM and
Advance payment of taxes and
Fixed Deposits with Bank
Other Current Assets
Total

2013
Other Liabilities / Provisions : Sales 24.89
Particulars Purchases 1161.72
Advance payment from customer Stock 5.10
Provision for taxes Debtors 0.20
Other Statutory Liabilities Creditors 0.00
Other Liabilities / Provisions
Total Sales 2.0741666667
Purchases 96.81
Other Non Current Assets : Per Month Stock 0.425
Particulars
Receivables for more than 6 mon Debtors Leve2.8927280032
Other Security Deposits Creditors Lev 0
Others Stock Level 1.5804152464
Total

In days,
working
capital cycle 4.4731432496

Movement of Tangible Net Worth

Particulars
Opening Tangible Net Worth
Add : Increase in
Share Capital
Surplus in Profit and Loss accoun

Less : Decrease in
Share Application Money
Closing Tangible Net Worth
 Method I
Sr Particulars Actual Actual Estimated Projected
No 31.03.2018 31.03.2019 31.03.2020 31.03.2021
1 TCA 10.15 13.10 17.74 21.74
2 CL(Other than BB) 0.00 0.00 0.76 0.67
3 WCG 10.15 13.10 16.98 21.07
4 Actual/Projected BB 6.34 6.44 10.00 10.00
5 Total CL 6.34 6.44 10.76 10.67
6 25% of TCA 2.54 3.28 4.44 5.44
7 Projected NWC 3.81 6.66 6.98 11.07
8 Min Stipulated NWC(25% of NWC) 2.54 3.28 4.25 5.27
9 Item 3 - Item 8 7.61 9.83 12.74 15.80
10 Item 3 - Item 7 6.34 6.44 10.00 10.00
MPBF(Item 9 or 10 whichever is lower) 6.34 6.44 10.00 10.00
Excess Borrowing (If any) 0.00 0.00 0.00 0.00

Method II
Particulars Actual Actual Estimated Projected
31.03.2018 31.03.2019 31.03.2020 31.03.2021
1 TCA 10.15 13.10 17.74 21.74
2 CL(Other than BB) 0.00 0.00 0.76 0.67
3 WCG 10.15 13.10 16.98 21.07
Min Stipulated NWC(25% of TCA excuding
4 Export receivables) 2.54 3.28 4.44 5.44
5 Actual/Projected BB 6.34 6.44 10.00 10.00
6 Total Current Liability 6.34 6.44 10.76 10.67
7 Actual/Projected NWC 3.81 6.66 6.98 11.07
9 Item 3 - Item 4 7.61 9.83 12.55 15.64
10 Item 3 - Item 7 6.34 6.44 10.00 10.00
MPBF(Item 9 or 10 whichever is lower) 6.34 6.44 10.00 10.00
Excess Borrowing (If any) 0.00 0.00 0.00 0.00
Assessment as per Turnover Method

Partuculars Estimated F.Y 2019 Projected F.Y 2020

Accepted Sales turnover/Gross reciept 42.58 48.96

31.25 % of Sales 13.31 15.30
Margin 6.25% of sales 2.66 3.06
MPBF 10.65 12.24
As per 1st Method of Lending (PBF) 6.44 10.00
Assessment of working capital may be
done on the basis of turnover method or
10.65 12.24
first method of lending, whichever is
higher.
 Particulars 31.03.2012 31.03.2013 31.03.2014 31.03.2015

Purchases 5182.31 18.67 30.63 33.29

Sales 5516.35 24.89 38.28 42.58

Inventory 1355.34 5.10 10.47 15.73

Receivables / Debtors 2154.14 0.20 0.56 0.20

Creditors 1134.26 0.00 0.00 0.76

Inventory Holding Level (in

In days days) 95.4591871193 99.7054097483 124.764936337 172.46770802
In months 3.18197290398 3.32351365828 4.15883121123 5.74892360068

Debtors Holding Level (in

days) 142.532852339 2.93290478104 5.33960292581 1.71441991545
In months 4.75109507797 0.0977634927 0.17798676419 0.05714733052

Creditors Holding Level (in

days) 79.8881000944 0 0 8.33283268249
In months 2.66293666981 0 0 0.27776108942
31.03.2016

38.61

48.96

17.98

1.15

0.67

169.9741
5.665803

8.573325
0.285778

6.333851
0.211128