3 YEARS CASHFLOW PROJECTION

Months 1 2 3 4 5
INFLOW
Opening Balance 10,000,000 8,995,000 9,489,310 10,011,717 10,563,821
Sales 100,000,000 158,400,000 165,721,050 173,458,256 181,635,274
New Working Capital Injection 50,000,000 - - -

Total Inflow 160,000,000 167,395,000 175,210,360 183,469,973 192,199,095

OUTFLOW
Purchases 144,000,000 150,655,500 157,689,324 165,122,976 172,979,185

Admin Exp 500,000 523,109 547,532 573,344 600,622

Directors' Remuneration 1,500,000 1,569,328 1,642,597 1,720,031 1,801,867
Sales and Marketing 300,000 313,866 328,519 344,006 360,373
Personnel Cost 1,000,000 1,046,219 1,095,065 1,146,687 1,201,244
Bank Charges 105,000 109,853 114,982 120,402 126,131
Professional Fees 150,000 156,933 164,260 172,003 180,187
Taxation 750,000 784,664 821,299 860,016 900,933
Rent 1,000,000 1,046,219 1,095,065 1,146,687 1,201,244

Total Outflow 149,305,000 156,205,690 163,498,642 171,206,152 179,351,786

Gross Cashflow 10,695,000 11,189,310 11,711,717 12,263,821 12,847,308

Loan Repayment 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000

Net cashflow 8,995,000 9,489,310 10,011,717 10,563,821 11,147,308

ASSUMPTIONS
1 Total loan exposure treated as term loan with equal instalment repayment, deduction includes principal
2 Working capital represents the expected loan injected at the start of the first month
3 Purchases are projected at a percentage of total inflow for each month
4 For the sake of this projection it is assumed that all purchases in one month are sold in the foregoing m
5 Sales are based on a mark up of 10% on purchases
6 Other outflows mirror the degree of purchase activity
 6 7 8 9 10 11 12 13
11,147,308 11,763,963 12,415,671 13,104,424 13,832,329 14,601,610 15,414,620 16,273,845
190,277,104 199,410,168 209,062,390 219,263,280 230,044,027 241,437,592 253,478,810 266,204,496
- - - -

201,424,412 211,174,131 221,478,060 232,367,704 243,876,356 256,039,202 268,893,431 282,478,342

181,281,971 190,056,718 199,330,254 209,130,934 219,488,720 230,435,282 242,004,088 254,230,507

629,451 659,919 692,119 726,149 762,114 800,123 840,292 882,745

1,888,354 1,979,757 2,076,357 2,178,447 2,286,341 2,400,368 2,520,876 2,648,234
377,671 395,951 415,271 435,689 457,268 480,074 504,175 529,647
1,258,903 1,319,838 1,384,238 1,452,298 1,524,227 1,600,245 1,680,584 1,765,490
132,185 138,583 145,345 152,491 160,044 168,026 176,461 185,376
188,835 197,976 207,636 217,845 228,634 240,037 252,088 264,823
944,177 989,879 1,038,178 1,089,224 1,143,170 1,200,184 1,260,438 1,324,117
1,258,903 1,319,838 1,384,238 1,452,298 1,524,227 1,600,245 1,680,584 1,765,490

187,960,449 197,058,460 206,673,636 216,835,375 227,574,745 238,924,582 250,919,585 263,596,430

13,463,963 14,115,671 14,804,424 15,532,329 16,301,610 17,114,620 17,973,845 18,881,912

1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000

11,763,963 12,415,671 13,104,424 13,832,329 14,601,610 15,414,620 16,273,845 17,181,912

ment, deduction includes principal and interest

he first month

month are sold in the foregoing month

 14 15 16 17 18 19 20 21
17,181,912 18,141,596 19,155,832 20,227,722 21,360,541 22,557,754 23,823,022 25,160,212
279,653,558 293,867,115 308,888,624 324,764,012 341,541,816 359,273,333 378,012,777 397,817,441

296,835,470 312,008,711 328,044,456 344,991,733 362,902,357 381,831,088 401,835,799 422,977,652

267,151,923 280,807,840 295,240,011 310,492,560 326,612,121 343,647,979 361,652,219 380,679,887

927,611 975,027 1,025,139 1,078,099 1,134,070 1,193,222 1,255,737 1,321,805

2,782,833 2,925,082 3,075,417 3,234,297 3,402,210 3,579,666 3,767,211 3,965,415
556,567 585,016 615,083 646,859 680,442 715,933 753,442 793,083
1,855,222 1,950,054 2,050,278 2,156,198 2,268,140 2,386,444 2,511,474 2,643,610
194,798 204,756 215,279 226,401 238,155 250,577 263,705 277,579
278,283 292,508 307,542 323,430 340,221 357,967 376,721 396,542
1,391,416 1,462,541 1,537,708 1,617,149 1,701,105 1,789,833 1,883,605 1,982,708
1,855,222 1,950,054 2,050,278 2,156,198 2,268,140 2,386,444 2,511,474 2,643,610

276,993,874 291,152,879 306,116,735 321,931,192 338,644,603 356,308,066 374,975,587 394,704,240

19,841,596 20,855,832 21,927,722 23,060,541 24,257,754 25,523,022 26,860,212 28,273,412

1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000

18,141,596 19,155,832 20,227,722 21,360,541 22,557,754 23,823,022 25,160,212 26,573,412

 22 23 24 25 26 27 28 29
26,573,412 28,066,945 29,645,375 31,313,530 33,076,508 34,939,701 36,908,804 38,989,839
418,747,876 440,868,076 464,245,670 488,952,135 515,063,008 542,658,121 571,821,843 602,643,341

445,321,288 468,935,020 493,891,045 520,265,665 548,139,516 577,597,822 608,730,648 641,633,180

400,789,160 422,041,518 444,501,941 468,239,098 493,325,564 519,838,039 547,857,583 577,469,862

1,391,629 1,465,422 1,543,410 1,625,830 1,712,936 1,804,993 1,902,283 2,005,104

4,174,887 4,396,266 4,630,229 4,877,491 5,138,808 5,414,980 5,706,850 6,015,311
834,977 879,253 926,046 975,498 1,027,762 1,082,996 1,141,370 1,203,062
2,783,258 2,930,844 3,086,819 3,251,660 3,425,872 3,609,986 3,804,567 4,010,207
292,242 307,739 324,116 341,424 359,717 379,049 399,479 421,072
417,489 439,627 463,023 487,749 513,881 541,498 570,685 601,531
2,087,444 2,198,133 2,315,114 2,438,745 2,569,404 2,707,490 2,853,425 3,007,656
2,783,258 2,930,844 3,086,819 3,251,660 3,425,872 3,609,986 3,804,567 4,010,207

415,554,344 437,589,645 460,877,516 485,489,157 511,499,815 538,989,017 568,040,808 598,744,013

29,766,945 31,345,375 33,013,530 34,776,508 36,639,701 38,608,804 40,689,839 42,889,168

1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000

28,066,945 29,645,375 31,313,530 33,076,508 34,939,701 36,908,804 38,989,839 41,189,168

 30 31 32 33 34 35 36
41,189,168 43,513,515 45,969,986 48,566,092 51,309,771 54,209,411 57,273,877
635,216,849 669,641,956 706,023,916 744,473,963 785,109,655 828,055,232 873,441,997

676,406,017 713,155,471 751,993,902 793,040,056 836,419,426 882,264,643 930,715,874

608,765,415 641,839,924 676,794,512 713,736,050 752,777,484 794,038,179 837,644,287

2,113,769 2,228,611 2,349,981 2,478,250 2,613,811 2,757,077 2,908,487

6,341,306 6,685,833 7,049,943 7,434,751 7,841,432 8,271,231 8,725,461
1,268,261 1,337,167 1,409,989 1,486,950 1,568,286 1,654,246 1,745,092
4,227,538 4,457,222 4,699,962 4,956,500 5,227,621 5,514,154 5,816,974
443,891 468,008 493,496 520,433 548,900 578,986 610,782
634,131 668,583 704,994 743,475 784,143 827,123 872,546
3,170,653 3,342,916 3,524,971 3,717,375 3,920,716 4,135,616 4,362,731
4,227,538 4,457,222 4,699,962 4,956,500 5,227,621 5,514,154 5,816,974

631,192,502 665,485,485 701,727,810 740,030,285 780,510,015 823,290,766 868,503,335

45,213,515 47,669,986 50,266,092 53,009,771 55,909,411 58,973,877 62,212,539

1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000

43,513,515 45,969,986 48,566,092 51,309,771 54,209,411 57,273,877 60,512,539