Assessment Of Working Capital Requirements Form # Ii : Operating

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS FORM # II : OPERATING STATEMENT S.No Particulars

1.

2. 3. 4. 5.

GROSS SALES (i) Sales (ii) Other Income Total (III) Excise Duty NET SALES ( 1 - 2 ) % age rise ( + ) or fall ( - ) in Net Sales as compared to previous year COST OF SALES (i) Raw Materials ( including Stores and other used in the process of manufacture (a) Imported (b) Indigenous (ii) Other Spares (a) Imported (b) Indigenous (iii) Power and Fuel (iv) Direct Labour (v) Repairs & Maintainence (vi) Depreciation (vii) SUB - TOTAL ( Items (i) to (vi) (viii) Add : Opening Stock-in-Process Sub-Total (ix) Deduct : Closing Stock-in-Process (x) COST OF PRODUCTION

Form # II Operating Statement Cont…. S.No Particulars

6. 7. 8. 9. 10. 11.

12. 13. 14. 15. 16. 17.

(ix) Add: Opening Stocks of WIP & Finished Goods Sub-Total (xii) Deduct: Closing Stocks of WIP & Finished Goods (xiii) Sub - Total ( Total of Cost of Sales ) Selling, General & Administrative Expenses Salaries and Allowances SUB - TOTAL ( 5 + 6 ) Operating Profit before Interest ( 3 - 7 ) Interest Operating Profit after Interest ( 8 - 9 ) (i) Add Other Non-Operating Income a) Other Income Sub - Total ( Income ) (ii) Deduct Other Non-Operating Expences a) Preliminary Expenses Written Off b) Others Sub - Total ( Expenses ) (iii) Net of other Non-Operating Income/Expenses Profit before Tax / ( Loss ) 10 + 11(iii) Provision for Taxes & deffered tax liabity Net Profit / ( Loss ) { 12 -13 } (a) Equity Dividend Paid including Dividend tax (b) Dividend Rate Retained Profit ( 14 - 15 ) Retained Profit / Net Profit ( % age )

2006-07 Audited Actuals

2007-08 Audited Actuals

2008-09 Audited Actuals

(Rs. in Lakhs) 2009-10 Current Year Estimates

2010-11 Next Year Projections

490.74 119.39 610.13 53.81 556.32 0.00

567.09 175.01 742.10 73.29 668.81 0.00

766.63 201.77 968.40 69.63 898.77 0.00

843.90 236.94 1080.84 52.96 1027.88 0.00

1265.85 355.41 1621.26 79.44 1541.82 0.00

0.00 302.81

0.00 340.34

0.00 534.04

0.00 572.00

0.00 858.00

0.00 13.14 47.64 15.74 61.05 18.59 458.97 11.40 470.37 12.74 457.63

0.00 18.28 53.96 15.86 61.95 18.31 508.70 12.74 521.44 11.45 509.99

0.00 35.37 54.52 17.80 71.80 19.56 733.09 11.45 744.54 5.18 739.36

0.00 33.20 35.00 22.00 136.00 20.00 818.20 5.18 823.38 0.58 822.80

0.00 49.80 52.50 33.00 204.00 30.00 1227.30 0.58 1227.88 0.00 1227.88

2006-07 Audited Actuals

2007-08 Audited Actuals

2008-09 Audited Actuals

11.82 469.45 40.22 429.23 76.89 0.00 506.12 50.20 21.36 28.84

40.22 550.21 30.09 520.12 86.27 0.00 606.39 62.42 24.81 37.61

(Rs. in Lakhs) 2009-10 Current Year Estimates 30.09 34.07 769.45 856.87 34.07 46.84 735.38 810.03 94.14 120.00 0.00 0.00 829.52 930.03 69.25 97.85 27.86 40.00 41.39 57.85

2010-11 Next Year Projections 46.84 1274.72 55.24 1219.48 180.00 0.00 1399.48 142.34 50.00 92.34

1.10 1.10

0.09 0.09

8.83 8.83

0.20 0.20

0.30 0.30

0.00 0.00 0.00 1.10 29.94 11.24 18.70 8.53 0.00 10.17 54.39

0.00 0.00 0.00 0.09 37.70 13.07 24.63 8.75 0.00 15.88 64.47

0.00 0.00 0.00 8.83 50.22 16.28 33.94 8.75 0.00 25.19 74.22

0.00 0.00 0.00 0.20 58.05 19.73 38.32 8.75 0.00 29.57 77.17

0.00 0.00 0.00 0.30 92.64 31.49 61.15 8.75 0.00 52.40 85.69

0.00 FORM # III ANALYSIS OF BALANCE SHEET S.No Particulars

1.

2. 3. 4. 5. 6. 7. 8. 9.

10.

CUR ENT LIABILITIES Short Term Borrowings from Banks ( excluding Bills Purchased Discounted (i) From Applicant Bank (ii) From Other Banks (iii) ( of which Bills Purchased & Discounted ) SUB - TOTAL ( A ) Short Term Borrowings from others Sundry Creditors ( Trade ) Advance Payments from Customers / Deposits from Dealers Provision for Taxation(Including dividend tax) Dividend Payable / Proposed Dividend Other Statutory Liabilities ( due within one year ) Deposits / Installments of Term Loan / DPG's / Debentures, etc. ( due within one year ) Other Current Liabilities & Provisions Liabilities for capital goods Liabilities for expenses Others SUB - TOTAL ( B ) TOTAL CURRENT LIABILITIES ( Total of Items # 1 to 9 )

FORM # III

13. 14. 15. 16.

17. 18.

19. 20. 21. 22. 23. 24. 25.

2007-08 Audited Actuals

2008-09 Audited Actuals

(Rs. in Lakhs) 2009-10 Current Year Estimates

2010-11 Next Year Projections

152.62 0.00 0.00 152.62 0.00 57.97 0.00 0.00 13.29 7.48 0.81 0.00 0.00

164.03 0.00 0.00 164.03 0.00 91.73 10.81 0.00 15.89 7.48 1.25 0.00 0.00

171.33 0.00 0.00 171.33 0.00 98.48 0.26 0.00 18.89 7.48 1.25 0.00 0.00

200.00 0.00 0.00 200.00 0.00 23.80 0.50 0.00 21.47 7.48 9.60 0.00 0.00

300.00 0.00 0.00 300.00 0.00 35.80 1.00 0.00 33.23 7.48 9.60 0.00 0.00

0.00 60.53 0.00 140.08 292.70

0.00 81.75 0.00 208.91 372.94

0.00 165.47 0.00 291.83 463.16

0.00 100.00 0.00 162.85 362.85

0.00 110.00 0.00 197.11 497.11

2006-07 Audited Actuals

2007-08 Audited Actuals

2008-09 Audited Actuals

(Rs. in Lakhs) 2009-10 Current Year Estimates

2010-11 Next Year Projections

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

21.56

10.67

137.17

120.00

200.00

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 10.00

0.00 0.00 0.00

21.56 314.26

10.67 383.61

137.17 600.33

130.00 492.85

200.00 697.11

74.81 14.61 0.00 0.00 0.00 35.18 124.60 438.86

74.81 16.92 0.00 0.00 0.00 48.75 140.48 524.09

74.81 20.32 0.00 0.00 0.00 70.54 165.67 766.00

74.81 23.72 0.00 0.00 0.00 96.71 195.24 688.09

74.81 27.12 0.00 0.00 0.00 145.71 247.64 944.75

ANALYSIS OF BALANCE SHEET

S.No Particulars

11. 12.

2006-07 Audited Actuals

TERM LIABILITIES Debentures ( not maturing within one year ) Preference Shares ( Redeemable after one year ) Term Loans ( excluding installments payable within one year ) Hire Purchase Loan ( excluding installments due within one year ) Term Deposits ( Repayable after one year ) Other Term Liabilities Liabilities for Capital Goods Unsecured Loans from shareholders Unsecured Loans from Others TOTAL TERM LIABILITIES ( Total of Items # 11 to 16 ) TOTAL OUTSIDE LIABILITIES (Item 10 plus item 17) NET WORTH Ordinary Share Capital General Reserve Revaluation Reserve Sales Tax Subsidy Deffered Tax Liability Surplus (+) or Deficit (-) in profit and loss Account NET WORTH TOTAL IABILITIES ( Total Items # 18 + 24 )

FORM # III ANALYSIS OF BALANCE SHEET S.No Particulars

CURRENT ASSETS Cash and Bank Balances Investments ( other than Long Term Investments) i) Government ii) Fixed deposits with Banks 28. i) Receivables other than deferred & Bills purchased and Discounted by Banks ii) Export receivables ( including Bills Purchased Discounted by Banks ) 29. Installments of deferred Receivables ( due within one year ) 30. Inventory : i) Raw Materials ( including Stores and other items used in the process of manufacture ) a) Imported b) Indigenous ii) Stocks-in-Process iii) Finished Goods iv) Other Consumable Spares a) Imported b) Indigenous c) Other C/A 31. Advances to Suppliers of Raw Materials and Stores and for Job work 32. Advance Payment of Taxes 33. Other Current Assets a) Margins for L.C's and guarantees b) Loans and Advances 34. TOTAL CURRENT ASSETS ( Total of Items # 26 to 33 ) FORM # III ANALYSIS OF BALANCE SHEET S.No Particulars 26. 27.

FIXED ASSETS 35. 36. 37. 38.

39. 40. 41. 42.

43. 44. 45. 46. 47.

Gross Block ( Land, Building & Machinery, Work-in-Progress ) Depreciation to date NET BLOCK ( Item # 35 - Item # 36 ) Investment / Book Debts / Advances / Deposits which are not Current Assets I) a) Investments in Subsidiary Companies / Affiliates b) Others II) Advances to Suppliers of Capital Goods and Contract - Capital work in progress III) Deferred tax asset IV) Others - Deposits FD with Bank Non-Consumable Stores and Spares Other Non-Current Assets including due from Directors TOTAL OTHER NON - CURRENT ASSETS Intangible Assets ( Patents, Goodwill, Preliminary Expenses, Doubtful Debts not provided for & deposits etc. ) TOTAL ASSETS ( Total of Items # 34,37,41& 42) TANGIBLE NET WORTH ( Items # 24 - 42 ) NET WORKING CAPITAL ( Items # [ ( 17 + 24 ) - ( 37+ 41 + 42 ) ] CURRENT RATIO { Item # 34 / 10 } TOTAL OUTSIDE LIABILITIES

(Rs. in Lakhs) 2006-07 Audited Actuals

2007-08 Audited Actuals

2008-09 Audited Actuals

2009-10 Current Year Estimates

2010-11 Next Year Projections

0.58

0.60

0.32

1.14

1.31

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

130.91

181.87

182.40

180.10

270.20

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

25.18 12.74 40.22

27.39 11.45 30.09

20.83 5.18 34.07

0.00 47.70 55.20 44.10

0.00 71.50 82.80 61.10

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

46.04 6.00

25.83 8.00

32.92 5.50

40.00 10.00

50.00 15.00

0.00 32.62

0.00 17.84

0.00 39.54

0.00 70.00

0.00 80.00

294.29

303.07

320.76

631.90

2006-07 Audited Actuals

2007-08 Audited Actuals

448.24 (Rs. in Lakhs) 2008-09 2009-10 Audited Current Actuals Year Estimates

216.52 87.32 129.20

233.75 105.63 128.12

261.10 125.19 135.91

261.10 145.19 115.91

401.10 175.19 225.91

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 9.07

64.54 10.61

269.41 11.94

80.00 11.94

43.00 11.94

6.30 0.00 0.00 0.00

17.75 0.00 0.00 0.00

27.98 0.00 0.00 0.00

32.00 0.00 0.00 0.00

32.00 0.00 0.00 0.00

15.37

92.90

309.33

123.94

86.94

0.00

0.00

0.00

0.00

0.00

438.86 124.60

524.09 140.48

766.00 165.67

688.09 195.24

944.75 247.64

1.59 1.01

-69.87 0.81

-142.40 0.69

85.39 1.24

134.79 1.27

2010-11 Next Year Projections

48.

TANGIBLE NET WORTH { Items # 18 / 44 ) Total Term Liabilities / Tangible Net Worth

2.52 0.17

2.73 0.08

3.62 0.83

2.52 0.67

2.82 0.81

FORM # IV COMPARATIVE STATEMENT OF CURRENT ASSETS S.No Particulars

2006-07 Audited Actuals

2007-08 Audited Actuals

2008-09 Audited Actuals

(Rs. in Lakhs) 2009-10 Current Year Estimates

2010-11 Next Year Projections

0.00

0.00

0.00

0.00

0.00

25.18 (1.00)

27.39 (0.97)

20.83 (0.47)

47.70 (1.00)

71.50 (1.00)

0.00

0.00

0.00

0.00

0.00

0.00 0.00 12.74 0.00 40.22 (1.12)

0.00 0.00 11.45 0.00 30.09 (0.69)

0.00 0.00 5.18 0.08 34.07 (0.56)

0.00 0.00 55.20 0.81 44.10 (0.65)

0.00 0.00 82.80 0.81 61.10 (0.60)

130.91 (3.20) 0.00

181.87 (3.85) 0.00

182.40 (2.86) 0.00

180.10 (2.56) 0.00

270.20 (2.56) 0.00

46.04

25.83

32.92

40.00

50.00

39.20

26.44

45.36

81.14

96.31

294.29 294.29

303.07 303.07

320.76 320.76

448.24 448.24

631.91 631.90

FORM # IV COMPARITIVE STATEMENT OF CURRENT LIABILITIES S.No Particulars 2006-07 Audited Actuals

2007-08 Audited Actuals

2008-09 Audited Actuals

(Rs. in Lakhs) 2009-10 Current Year Estimates

2010-11 Next Year Projections

57.97 0.00 0.00 13.29 68.82 0.00

91.73 0.00 10.81 15.89 90.48 0.00

98.48 0.00 0.26 18.89 174.20 0.00

23.80 0.00 0.50 21.47 117.08 0.00

35.80 0.00 1.00 33.23 127.08 0.00

140.08

208.91

291.83

162.85

197.11

(Rs. in Lakhs) 2008-09 2009-10 Audited Current Actuals Year Estimates

2010-11 Next Year Projections

A 1.

CURRENT ASSETS Raw Materials ( Including Stores & Other Items used in the Process of Manufacture ) (a) Imported : Months' Consumption (b) Indigenous : Months' Consumption Other Consumable Spares, ( excluding those included in 1 above ) (a) Imported : Months' Consumption (b) Indigenous : Months' Consumption Stock-in-Process Months Cost of Production Finished Goods Months Cost of Sales Receivables other that Export deferred rec'bles ( including purchased and discounted by Banks) Months Domestic Sales Export Receivables ( Including Bills Purchased & Disctd) Months' Export Sales Advances to Suppliers of Raw Materials, Stores and Consumables Other Current Assets including Cash and Bank balances, Deposits, Advance payment of Taxes and Margins for LC's and guarantees. Total Current Assets ( To Agree with Item # 34 in Form # 3 )

2.

3. 4. 5.

6. 7. 8.

9.

B. 10.

11. 12. 13.

14.

CURRENT LIABILITIES ( Other than Bank Borrowings for working capital) Creditors for Purchases of Raw Materials, Stores and Spares Advances from Customers Statutory Liabilities Other Current Liabilities Other Provisions Installments of Term loans TOTAL

Computation Of Maximum Permissible Bank Finance for Working Capital S.No Particulars

1. 2.

3. 4.

Total Current Assets ( Item # 9 in Form # IV ) Other Current Liabilities ( Other than Bank Borrowings ) ( Item # 14 in Form IV ) Working Capital Gap ( WCG ) ( Item # 1 - Item # 2 ) Minimum stipulated Net Working Capital ie 25% of WCG / 25% of Total Current Assets as to case may be depending upon the method of lending being

2006-07 Audited Actuals

2007-08 Audited Actuals

294.29 140.08

303.07 208.91

320.76 291.83

448.24 162.85

631.91 197.11

154.21

94.16

28.93

285.39

434.80

38.55

23.54

7.23

71.35

108.70

5. 6. 7. 8. 9 10 11 12 13 14 15

applied ( Export Receivables to be excluded under both methods ) Actual / Projected net working Capital ( Item # 45 in Form # III ) Item # 3 Minus Item # 4 Item # 3 Minus Item # 5 MAXIMUM PERMISSIBLE BANK FINANCE ( Item # 6 or Item # 7 whichever is lower ) NWC TO TCA ( % ) Bank Finance to TCA ( % ) Sundry Creditors to TCA ( % ) Other Current Liabilities to TCA ( % ) Inventories to Net Sales ( days ) Receivables to Gross Sales ( days ) Sundry Creditors to Purchases ( days )

1.59

-69.87

-142.40

85.39

134.79

115.66 152.62 115.66

70.62 164.03 70.62

21.70 171.33 21.70

214.04 200.00 200.00

326.10 300.00 300.00

0.54 39.30 19.70 23.39 51.27 97.37 69.88

-23.05 23.30 30.27 29.85 37.62 117.06 98.38

-44.39 6.76 30.70 54.31 24.40 86.84 67.31

19.05 44.62 5.31 26.12 52.20 77.90 15.19

21.33 47.48 5.67 20.11 50.99 77.91 15.23

2006-07 Audited Actuals

2007-08 Audited Actuals

2008-09 Audited Actuals

(Rs. in Lakhs) 2009-10 Current Year Estimates 25.19 29.57 19.56 20.00 0.00 0.00 0.00 0.00 0.00 0.00 126.50 -7.17

2010-11 Next Year Projections 52.40 30.00 0.00 0.00 0.00 70.00

FORM # VI FUND FLOW STATEMENT 1 SOURCES S.No Particulars

a) Net Profit after Tax b) Depreciation c) Increase in Capital Increase in Deffered tax liability d) B/F reserves e) Increase in Term Liabilities e) Decrease in i) Fixed Assets ( Depreciation to date ) ii) Other Non-Current Assets

15.88 18.31 0.00 0.00 0.00 -10.89

g) Total

2

USES Particulars

a) Net Loss b) Decrease in Term Liabilities Decrease in unsecured loans c) Increase in i) Fixed Assets ii) Non current assets d) Dividend Payments e) Decrease in liability for capital goods g) TOTAL

a) b) c) d) e) f) g) h) I)

Long Term Surplus ( + ) / Deficit ( - ) ( Item # 1 Minus Item # 2 ) Increase / Decrease in Current Assets * ( as per details given below ) Increase or Decrease in Current Liabilities other than Bank Borrowings Increase / Decrease in Working Capital Gap Net Surplus ( + ) / Deficit ( - ) Increase / Decrease in Bank Borrowings INCREASE / DECREASE IN NET SALES

2006-07 Audited Actuals

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

23.30

171.25

42.40

152.40

2007-08 Audited Actuals

2008-09 Audited Actuals

(Rs. in Lakhs) 2009-10 Current Year Estimates 0.00 0.00 0.00 0.00 0.00 0.00

2010-11 Next Year Projections 0.00 0.00 0.00

0.00 0.00 0.00 17.23 77.53 0.00 0.00 94.76

27.35 216.43 0.00 0.00 243.78

0.00 -185.39 0.00 0.00 -185.39

140.00 -37.00 0.00 0.00 103.00

-71.46

-72.53

227.79

49.40

8.78

17.69

127.48

183.66

68.83 -60.05 -11.41 11.41 131.97

82.92 -65.23 -7.30 7.30 226.30

-128.98 256.46 -28.67 28.67 112.44

34.26 149.41 -100.00 100.00 540.42

0.00

0.00

0.00

0.00

0.00