CMA DATA

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM-I

NAME

Particulars of existing / proposed limits from the Banking System ( Limits from all Banks and Financial Institution as on
date of application).

SL NO. Name of Bank/ Nature of Existing Limit Extent to which limits were Balance O/S Limits now
Financial inst. facility utilised during the last 12 as on requested
months
Maximum Minimum
1 2 3 4 5 6 7 8

A WORKING CAPITAL LIMIT 95.00 LACS

B TERM LOAN 32.00 LACS

SL NO. Name of Bank/ Saction Limit Outstanding as on Overdues if, any Remarks
Financial inst.

1 2 3 4 5 6

B TERM LOAN FROM BANK/DPGs

( Excluding Working Capital Term Loans)
 #1#
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
FORM II : OPERATING STATEMENT

NAME :
( Rs. In Thousands)
Estimate for the year ended/ ending
Last two years Current Following
year year
PARTICULARS Audited Unaudited Estimate Projection
2003-04 2004-05 2005-06 2006-07
1 Gross Sales
(I) Domestic Sales 24,328 20,430 116,895 138,396
(ii) Export Sales - - - -
(iii) Other operative/revenue income 120 55 - -
Total 24,448 20,485 116,895 138,396
2 Less: Excise Duty - - - -
3 Net Sales ( 1-2) 24,448 20,485 116,895 138,396
4 % age rise (+) or fall (-) in net sales
as compared to previous year - - - -
(year of expansion)
5 Cost of Sales
(I) Raw materials including storage
and other items used in the process
of manufacture
(a) Imported - - - -
(b) Indigenous 22,497 17,276 110,892 129,399

(ii) Other spares

(a) Imported - - - -
(b) Indigenous 931 762 54 63

(iii) power and fuel 42 93 200 233

(iv) Direct Labour ( Fac.wages & Sal.) 35 40 388 453

(v) Other Mfg Expenses 39 43 90 105

(vi) Depreciation 192 176 1,339 1,006

(vii) SUB TOTAL ( i to vi) 23,736 18,390 112,963 131,259

(viii) Add: Opening Stock in Process - - - 726

Sub - Total 23,736 18,390 112,963 131,985

(ix) Deduct: Closing St.in Process - - 726 847

(x) Cost of Production 23,736 18,390 112,237 131,138

 #2#
Last two years Current Following
year year
PARTICULARS Audited Unaudited Estimate Projection
2003-04 2004-05 2005-06 2006-07

(xi) Add: Opening St.of Finished goods 77 1,275 655 2,635

Sub-Total 23,813 19,665 112,892 133,773

(xii) Deduct: Closing St. of Finished Goods 1,275 655 2,635 3,043

(xiii) SUB-TOTAL (Total Cost of Sales) 22,538 19,010 110,257 130,730

6 Selling, general and admn. Exps 1,308 836 1,201 1,350

7 SUB TOTAL (5+6) 23,846 19,846 111,458 132,080

8 Operating Profit before interest (3-7) 602 639 5,437 6,316

9 Interest 116 245 1,497 1,418

10 Operating Profit after interest (8-9) 486 394 3,940 4,898

11 (I) Add: Other non-operating income

(a) Other Income - - - -
(b) Int. on Investment - - - -
Sub-total ( income) - - - -

(ii) Deduct: Other non-operating expenses

(a) Misc. Expenses w/o - - - -
(a) Other expenses - - - -
Sub-total ( expenses) - - - -

(iii) Net of other non-operating income/

expenses[net of 11(I) & 11(ii)] - - - -

12 Profit before tax/loss [10+11(iii)] 486 394 3,940 4,898

13 Provision for taxes incl. Dividend Tax - - 1,182 1,470

14 Net Profit/Loss (12-13) 486 394 2,758 3,428

15 (a) Equity Dividend Paid - - - -

(b) Dividend Rate - - - -
© Tax of earlier years - - - -
16 Retained Profit (14-15) 486 394 2,758 3,428

17 Retained Profit/ Net Profit (%) 100 100 100 100

 FORM VI
FUND FLOW STATEMENT

( Rs. In Thousands)
As per Balance sheet as at
Last year Current year Following year
Actual Estimate Projection
2004-05 2005-06 2006-07
1 SOURCES
a) Net Profit ( after tax ) 394 2,758 3,428
b) Depreciation 176 1,339 1,006
c) Increase in Capital - 1,094 -
d) Increase in Term Liabilities ( including Public deposits) 245 3,200 -
e) Decrease in:
I) Fixed Assets - - -
ii) Other non-current assets - - -
iii) Intangible assets - - -
f) Share Premium Money - - -

g) TOTAL 815 8,391 4,434

2 USES
a) Net Loss -
b) Decrease in Term Liabilities - 640 640
c) Increase in :
I) Fixed Assets 1,831 2,530 -
ii) Other non-current assets - 55 -
d) Dividend payments -
e) Others-R/OFF 1 (1) (1)
f) decrease in capital 151 -
f) TOTAL 1,983 3,224 639

3 Long Term Surplus (+) / Deficit (-) (1-2) (1,168) 5,167 3,795

4 Increase / decrease in Current Assets 1,152 10,400 3,800

( as per details given below )

5 Increase / decrease in Current Liabilities other than bank

borrowings (3) 13 5

6 Increase / decrease in Working Capital Gap 1,155 10,387 3,795

7 Net Surplus (+) Deficit (-) [Difference of 3 & 6] (2,323) (5,220) -

8 Increase / decrease in Bank Borrowings 2,323 5,220 -

INCREASE / DECREASE IN NET SALES (3,963) 96,410 21,501

NOTE: MINUS FIGURE IN SL-7 SHOULD BE EQUAL TO POSITIVE FIGURE IN SL-8.

MINOR DIFFERENCE DUE TO ROUND OFF ADJUSTMENTS
 #2#
BREAK UP OF 4 I.e; INCREASE / DEACREASE IN CURRENT ASSETS

( Rs. In Thousands)
As per Balance sheet as at
Last year Current year Following year
Actual Estimate Projection
2004-05 2005-06 2006-07
(I) Increase / decrease in Raw Materials 3,154 524 770

(ii) Increase / decrease in Stock-in-Process - 726 121

(iii) Increase / decrease in Finished Goods (620) 1,980 408

(iv) Increase / decrease in Receivables:

(a) Domestic (46) 4,862 896

(b) Export

(v) Increase / decrease in Stores & Spares (99) (83) -

(vi) Increase / decrease in Other Current Assets (1,237) 2,391 1,605

ROUND OFF ADJUSTMENT
TOTAL 1,152 10,400 3,800
- - -
 FORM-V

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

( Rs. In Thousands )

As per Balance Sheet as at

Norms Last year Current year Following year
Actual Estimate Projection
2004-05 2005-06 2006-07

1 Total Current Assets

( 9 in Form IV ) 5880 16280 20080

2 Other Current Liabilities 7 660 665

( Other than bank borrowings )
( 14 of Form IV)

3 Working Capital Gap 5,873 15,620 19,415

( WCG) (1-2)

4 Minimum stipulated net working capital

I.e; ( 25% of Total Current Assets) 1,470 4,070 5,020
( Export receivables to be excluded under
both methods)

5 Actual / Projected Net Working Capital 1,593 6,120 9,915

( 45 in Form III )

6 Item 3 minus item 4 4,403 11,550 14,395

7 Item 3 minus item 5 4,280 9,500 9,500

8 Maximum Permissible Bank Finance 4,280 9,500 9,500

( item 6 or 7 whichever is lower)

9 Excess borrowings representing shortfall (123) (2,050) (4,895)

in NWC (4-5)
 FORM IV
COMPERATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

( Rs. In Thousands )
As per Balance Sheet as at
Norms Last year Current year Following yeaPeak requ-
Actual Estimate Projection irement
A. CURRENT ASSETS 2004-05 2005-06 2006-07
1 Raw materials ( including stores & other
items used in the process of manufacture )
(a) Imported - - -
Months' Consumption
(b) Indigenous 4,093 4,617 5,387
Months' Consumption 2.84 0.50 0.50

2 Other Consumable Spares, excluding

those included in 1 above
(a) Imported - - -
Months' Consumption
(b) Indigenous 83 - -
Months' Consumption

3 Stock-in-process: - 726 847

Months' cost of production 0.08 0.08

4 Finished Goods/ scrap materials 655 2,635 3,043

Months' cost of sales 0.41 0.29 0.28

5 Receivable other than export & deferred

receivables ( including bills purchased
and discounted by bankers) 9 4,871 5,767
Months' billing 0.01 0.50 0.50

6 Export receivables ( incl.bills pur & disc) - - -

Months' Export sales

7 Advance to suppliers of raw materials & - - -

store/ spares, consumables

8 Other current assets:

Cash & Bank Balances 1,040 3,431 5,036
Advance Payment of taxes - - -
Fixed Deposits with Bank - - -
Advance to staffs & others - - -

9 TOTAL CURRENT ASSETS 5,880 16,280 20,080

( To agree with items 34 in Form III ) - - -

Contd…………2
 #2#

FORM IV ( Continued)

COMPERATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

( Rs. In Thousands )
As per Balance Sheet as at
Norms Last year Current year Following yeaPeak requ-
Actual Estimate Projection irement
B. CURRENT LIABILITIES 2004-05 2005-06 2006-07
( Other than bank borrowing for WC)

10 Creditors for purchase of raw materials,

stores & consumable spares - - -

Months' Purchase

11 Advance from customers - - -

12 Statutory liabilities - - -

13 Other Current Liabilities:

( Specify major items)
-Provision for taxation - - -
-Proposed dividend - - -
-Liabilities for expenses & other finance 7 660 665

14 TOTAL CURRENT LIABILITIES 7 660 665.00

( To tally with Sub-tatal B of Form-III) - - -
 #1#
ASSESSMENT OF BALANCE SHEET
FORM III
NAME :
( Rs. In Thousands)
As per Balance Sheet as at
Last two years Current Following
year year
LIABILITIES Audited Unaudited Estimate Projection
2003-04 2004-05 2005-06 2006-07
CURRENT LIABILITIES
1 Short term borrowings from banks
( including bills purchased, discounted
& cash borrowings placed on repay-
ment basis)

(I) From Applicant Bank 1,957 4,280 9,500 9,500

(ii) From other Banks - - - -
(iii) (of which BP & BD) - - - -
Sub-Total (A) 1,957 4,280 9,500 9,500
2 Short term borrowings from others - - - -

3 Sundry creditors ( Trade) - - - -

4 Creditors for Capital Goods - - - -

5 Provision for Taxation - - - -

6 Dividend Payable - - - -

7 Other Statutory Liabilities - - - -

( due within one year )

8 Deposits/ instalments of term loans/

DPG/ Debentures etc.
( due within one year ) - - 640 640

9 Creditors for Expenses 10 7 20 25

Sub-Total (B) 10 7 660 665

10 TOTAL CURRENT LIABILITIES 1,967 4,287 10,160 10,165

( Total of 1 to 9 )
TERM LIABILITIES
11 Debentures ( not maturing within 1 yr) - - - -

12 Preference Shares - - - -

13 Term Loans ( excluding instalments

within one year) - - 1,920 1,280
Contd………2
 #2#

Last two years Current Following

year year
LIABILITIES Audited Unaudited Estimate Projection
2003-04 2004-05 2005-06 2006-07
14 Deferred Payment Credits ( excluding
instalments due within one year) - - - -

15 Term deposits ( repayable after one

year ) Unsecured Loans - - - -

16 Sales Tax Deferment 1,685 1,930 1,930 1,930

17 TOTAL TERM LIABILITIES 1,685 1,930 3,850 3,210

( Total of 11 to 16)

18 TOTAL OUTSIDE LIABILITIES

(10+17) 3,652 6,217 14,010 13,375

19 Ordinary Share Capital 3,609 3,975 4,218 8,070

Addition in capital - - 1,094 -
20 General Reserve - - - -

21 General Reserve - - - -

22 Interest Subsidy - - - -

23 Surplus (+) or Deficit (-) in P/L A/C 486 394 2,758 3,428
less: drawings (R/OFF ADJ IF ANY) 120 151 - -
24 NET WORTH 3,975 4,218 8,070 11,498

25 TOTAL LIABILITIES (18+24) 7,627 10,435 22,080 24,873

ASSETS
CURRENT ASSETS
26 Cash & Bank Balances 2,277 1,040 3,431 5,036

27 Investments (other than long term

investments )
(I) Govt and other Trustee Securities - - - -
(ii) Fixed Deposits with banks - - - -

28 (I) Receivables other than deferred &

exports (including bills purchased/
discounted by banks) 55 9 4,871 5,767

Contd…………..3
 #3#

As per Balance Sheet as at

Last two years Current Following
year year
ASSETS Audited Unaudited Estimate Projection
2003-04 2004-05 2005-06 2006-07

(ii) Exports receivables ( including

bills purchased / discounted by bank) - - - -

29 Instalments of deferred receivables - - - -

( due within one year )

30 Inventory:

(I) Raw material ( incl. Stores & other ite-

ms used in the process of manufacture
(a) Imported - - - -
(b) Indigenous 939 4,093 4,617 5,387

(ii) Stock-in- Process - - 726 847

(iii) Finished Goods/ Scrap materials 1,275 655 2,635 3,043

(iv) Other Consumables Spares

(a) Imported - - - -
(b) Indigenous 182 83 - -

31 Advance to Suppliers of raw materials

& stores/ spares - - - -

32 Advance Payment of Taxes - - - -

33 Other Current Assets-

Advance to Staff & others - - - -
(or round off adjustment)
34 TOTAL CURRENT ASSETS
( Total of 26 to 33 ) 4,728 5,880 16,280 20,080

FIXED ASSETS

35 Gross Block 3,013 4,844 7,374 7,374

36 Depreciation to date 192 368 1,707 2,713

37 NET BLOCK (35-36) 2,821 4,476 5,667 4,661

Contd………….4
 #4#

Last two years Current Following

year year
ASSETS Audited Unaudited Estimate Projection
2003-04 2004-05 2005-06 2006-07
OTHER NON CURRENT ASSETS
38 (I) Investments / Book Debts / Advances/
Deposits which are not current assets
(a) Investments in Subsidiary
Companies/affiliates - - - -
(b) Earnest maney deposits - - - -
© Other Investments - - - -
(ii) Security Deposits 12 12 67 67

(iii) Deferred receivables ( maturity

exceeding one year) - - - -

(iv) Others - - - -

39 Non-Consumables stores & spares - - - -

40 Margin on FLC - - - -

41 TOTAL OTHER NON CURRENT ASSETS 12 12 67 67

42 Intangible assets ( Preliminery &

Pre-operative expenses) 66 67 67 67
ROUND OFF ADJ (1) (2)
43 TOTAL ASSETS
Total of 34,37,41,and 42) 7,627 10,435 22,080 24,873
- - - -
44 TANGIBLE NET WORTH (24-42) 3,909 4,151 8,003 11,431

45 NET WORKING CAPITAL

(17+24)-(37+41+42) to tally (34-10) 2,761 1,593 6,120 9,915

46 Current Ratio (34/10) 2.40 1.37 1.60 1.98

47 Total out side liabilities/Tangible

Net Worth (18/44) 0.93 1.50 1.75 1.17

ADDITIONAL INFORMATION
(A) Arrears of Depreciation - - - -
(B) Contingent Liabilities:
(I) Arrears of cumulative dividends - - - -
(ii) Gratuity liability not provided for - - - -
(iii) Disputed excise/custom/tax liab - - - -
 (iv) Other liabilities not provided for - - - -

FINANCIAL RATIOS RATIOS

Audited Unaudited Estimate Projection

CAPITAL BASE 2003-04 2004-05 2005-06 2006-07
1 TOTAL LIABILITIES/TNW 1.9 2.5 2.7 2.2

2 SALES/TNW 6.15 4.86 14.49 12.04

PROFITABILITY
3 NET PROFIT /SALES (%) 1.99 1.92 2.36 2.48

4 NET PROFIT/ TOTAL CAPITAL (%) 6.37 3.78 12.49 13.78

EMPLOYED (INCLUDING CURRENT
& DEFERRED LIABILITIES)

5 NET PROFIT/PROPRIETOR'S 13.47 9.91 51.92 42.48

CAPITAL EMPLOYED

6 PBT/SALES 1.99 1.92 3.37 3.54

7 PAT/SALES 1.99 1.92 2.36 2.48

LIQUIDITY

8 CURRENT RATIO 2.40 1.37 1.60 1.98

(CURRENT ASSETS/CURRENT LIAB)

9 NET WORKING CAPITAL (NWC) 2,761 1,593 6,120 9,915

(CURRENT ASSETS-CURRENT LIAB)

DEBT/EQUITY RATIO
10 Total out side liabilities/Tangible
Net Worth 0.93 1.50 1.75 1.17

OTHERS
11 PBDIT/INTEREST 6.84 3.33 4.53 5.16

12 ROCE
(PBDIT/TOTAL ASSETSx100) 10.41 7.81 30.69 29.44

13 (INV+RECV)/SALES IN DAYS 37 86 38 37

14 NET SALES TO TOTAL TANGIBLE

ASSETS (TIMES) 3.23 1.98 5.31 5.58

15 PBT TO TOTAL TANGIBLE ASSETS (%) 6.43 3.80 17.90 19.75

16 OPERATING COST TO SALES (%) 97.54 96.88 95.35 95.44

17 BANK FINANCE TO CURRENT ASSETS(%) 41.39 72.79 58.35 47.31