Assesment of Working Capital Requirements

Form - I I : Operating Statement ( Rs. in Lacs )

As per Profit & Loss actuals / estimates for the year ended / ending

March 31'11 March 31'12 March 31'13 March 31'14

M/S Actual Actual Estimated Projected

1 Gross Sales - (I) Domestic Sales 15.00 20.50 25.63 28.19

(ii) Other Income - - - -

Total 15.00 20.50 25.63 28.19

2 Less Excise Duty
Deduct Other Items - - - -
3 Net Sales (Item 1 - Item 2 ) 15.00 20.50 25.63 28.19
4 % age rise ( + ) or fall( - ) in net sales as #VALUE! 36.67% 25.00% 10.00%
compaired to previous year (annualised )
5 Cost of Sales
(IPurchases 12.00 18.83 23.00 22.50
(a) Imported - -
(b) Indigeneous 12.00 18.83 23.00 22.50

(i Other Trading Expenses - - - -

(i SUB - TOTAL ( I to ii ) 12.00 18.83 23.00 22.50

-
(i Add : Opening stock of Finished goods 2.00 2.75 5.10 8.25
Sub - total 14.00 21.58 28.10 30.75
(vDeduct : Closing stock of finished goods 2.75 5.10 8.25 9.50
(xSUB - TOTAL ( Total cost of Sales ) 11.25 16.48 19.85 21.25
Gross Profit 3.75 4.02 5.78 6.94
25.00% 19.61% 22.54% 24.61%
6 Selling , general and administrative expenses 1.75 1.93 2.50 2.88
13.00 18.41 22.35 24.13
7 SUB - TOTAL ( 5 + 6 )
2.00 2.10 3.28 4.06
8 Operating Profit before interest & Dep.( 3 - 7 )
9 Interest - - 0.57 0.57
10 Depreciation 0.15 0.13 0.11 0.09
1.85 1.97 2.59 3.40
11 Operating Profit after interest & Dep. ( 8 - 9 &10)
12 (IAdd other non - operative income
(a) Bank Interest - - - -
(b) Profit of Shares - - - -
(c) Other Income (Rent) -
(d) Previous Year Adjustments
Sub - Total ( Income ) - - - -
(i Deduct Other non - operative expenses
(a) Partners Salary - - -
(b) Interest Paid to Partners - - - -
(c) Other Expenses
Sub - Total ( Expenses ) - - - -
(i Net of other non - operating Income / Expenses - - - -
13 Profit before Tax / Loss { 11 + 12 (iii) } 1.85 1.97 2.59 3.40
14 Provision for Taxes - - - -
15 Net Profit / Loss { 13 - 14 } 1.85 1.97 2.59 3.40
16 (aEquity dividend paid - amt(already paid + b.s.prov. ) - -
(bDividend Rate
( Profit Withdrawn 0.25 0.75 1.00 1.50
17 Retained Profit { 15 - 16 } 1.60 1.22 1.59 1.90
18 Retained Profit / Net Profit ( % age ) 86.49 61.88 61.43 55.84
Cash accruals 2.00 2.10 2.70 3.49
PAT/NS (%) 12.33% 9.60% 10.12% 12.05%
PBDIT/Intt. (ti #DIV/0! #DIV/0! 5.71 7.08
PBDIT 2.00 2.10 3.28 4.06
 FORM I I I
ANALYSIS OF BALANCE SHEET ( AMOUNT IN: Rs. in Lacs )

M/S
As per Balance Sheet as at March 31'11 March 31'12 March 31'13 March 31'14
LIABILITIES Actual Actual Estimated Projected
- - - -
CURRENT LIABILITIES
1 Short -term borrowings fron Banks(incld. Bills purchased
discounted & excess borrowing placed on repayment basis
(aFrom applicant bank - - 5.00 5.00
(bFrom other banks - - - -
(c ( of which BP & BD ) - - - -
Current Liabilities from Banks Sub - total (A) - - 5.00 5.00
2 Short term borrowings from others (O/D From Bank) - -
3 Sundry Creditors (Trade) 0.76 3.25 0.25 0.30
4 Advance payments from Customers / Depositors, Dealers - - - -
5 Provision for taxation - - - -
6 Dividends payable
7 Other Statuatory liabilities( due in 1 yr.) - - - -
8 Deposits / Instalments of term loans / DPGs / Debentures - - - -
( due within one year )
9 Other Current liabilities & provisions ( due in 1 year ) 0.10 0.10 0.10 0.10
(specify major items ) - -
(aOutstanding Expenses 0.10 0.10 0.10 0.10
(bOthers (duty and taxes) - - - -
Other Current Liabilities Sub - total ( B ) 0.86 3.35 0.35 0.40
10 Total Current Liabilities { total of 1 to 9 excl 1 (iii) } 0.86 3.35 5.35 5.40

TERM LIABILITIES
11 Debentures ( not maturing within 1 year )
12 Preference Shares (reedemable after 1 year )
13 Term Loans ( excl. installments payable within 1 year ) - - - -
14 Deffered payment Credit excl. instt. Due within 1 year )
15 Term Deposits ( repayable after 1 year ) - - - -
16 Other term liabilities ( Unsecured loans ) - - - -
17 Total Term Liabilities { total of items 11 to 16 } - - - -

18 TOTAL OUTSIDE LIABILITIES { item 10 + 17 } 0.86 3.35 5.35 5.40

NET WORTH
19 Share Capital 5.00 5.00 5.00 5.00
20 General Reserve - - - -
21 Revaluation Researves - - - -
22 Other Researves ( excluding provisions) -
23 Surplus ( + ) or Defecit( - ) in P & L accounts 1.60 2.82 4.41 6.31
23 (aOthers - Income -
23 (bShare Application WITHDRAWAL - - - -
24 NET WORTH 6.60 7.82 9.41 11.31

25 TOTAL LIABILITIES 7.46 11.17 14.76 16.71

 FORM I I I ( Continued )
ANALYSIS OF BALANCE SHEET ( AMOUNT IN: Rs. in Lacs )

M/S 0.00 (0.00) (0.00) (0.00)

As per Balance Sheet as at March 31'11 March 31'12 March 31'13 March 31'14
ASSETS Actual Actual Estimated Projected
- - - -
CURRENT ASSETS

26 Cash & Bank Balances 1.98 2.07 1.62 1.66

27 Investments ( other than long term investments ) - - - .
(aGovernment & other Trustee securities
(bFixed deposits with Banks - - - -
28 (aReceivables other than Deferred & Export 0.85 1.75 2.75 3.00
( including bills purchased & discounted by Banks )
(bSubsidy receivables (incl.bills pur. & dis. By Banks )
(cSales : SIDBI - BRS (Outstanding Bills to be discounted )
29 Installments of deffered receivables ( due within 1 yr.)
30 Inventory 2.75 5.10 8.25 9.50
(aFinished Goods 2.75 5.10 8.25 9.50
31 Advances to suppliers of raw materials & stores / spares - - - -
32 Advance payment of taxes - - - -
33 Other Current assets 1.00 1.50 1.50 2.00
(a Deposits - - - -
(bOthers 1.00 1.50 1.50 2.00
34 TOTAL CURRENT ASSETS ( total of 26 to 33 ) 6.58 10.42 14.12 16.16

FIXED ASSETS
35 Gross Block ( land & bldg.,machinery,work in progress ) 1.03 1.03 1.03 1.03
36 Depretiation to date 0.15 0.28 0.39 0.48
37 NET BLOCK ( 35 - 36 ) 0.88 0.75 0.64 0.55

0 OTHER NON CURRENT ASSETS

38 Investments / book debts / adv. / deposits / which are not - - - -
Current Assets
(a (I) Investment in subsidiary companies / affiliates - - - -
(ii)Others - - - -
(bAdvances to suppliers of Capital goods & contractors - - -
(cInter unit a/c
(dOthers - Debtors > 6 months
Security deposits - - - -
Others - - - -
39 Mark for Future Expansion - - -
40 Other non - current assets incl. dues from Directors
41 TOTAL OTHER NON - CURRENT ASSETS ( total of 38 to 4 - - - -
42 Intangible assets ( patents, goodwill, prelim.expenses,
bad / doubtful expenses not provided for etc.
43 TOTAL ASSETS ( 34+37+41+42 ) 7.46 11.17 14.76 16.71
Total Liablities 7.46 11.17 14.76 16.71
44 TANGIBLE NET WORTH ( 24 - 42 ) 6.60 7.82 9.41 11.31
45 NET WORKING CAPITAL {( 17+24 ) - ( 37+41+42 )} 5.72 7.07 8.77 10.76
46 Current Ratio 7.63 3.11 2.64 2.99
47 Total Outside Liabilities / Tangible Net Worth ( TOL / TN 0.13 0.43 0.57 0.48
48 Total Term Liabilities / Tangible Net Worth ( TTL / TNW ) - - - -
49 Total Outside Liabilities -Q.E./ Tangible Net Worth+Q.E. 0.13 0.43 0.57 0.48
 FORM I V
COMPARATIVE STATEMENTS OF CURRENT ASSETS & CURRENT LIABILITIES

M/S
As per Balance Sheet as at March 31'11 March 31'12 March 31'13 March 31'14
CURRENT ASSETS Actual Actual Estimated Projected
- - -

1 Finished Goods : Amount 2.75 5.10 8.25 9.50

: Month' s cost of sales 2.93 3.71 4.98 5.36
2 Receivables other than Deferred & Export
( including bills purchased & discounted by Banks )
: Amount 0.85 1.75 2.75 3.00
: Month' s Domestic sales( incl deferred payment sales ) 0.68 1.02 1.29 1.28
3
: Amount - - - -
: Month' s Export sales
4 Sales under SIDBI-BRS(o/s bills for discounting)
: Amount
: Month' s SIDBI-BRS sales
5 Adv. to suppliers of materials & stores/spares,consumables - - - -
6 Other Current Assets incl. Cash & bank balances & deferred 2.98 3.57 3.12 3.66
receivables due within one year(specify major items )
:Cash & Bank Balance 1.98 2.07 1.62 1.66
:Invest.except long-term investment of def. Receivables - - - -
:Others 1.00 1.50 1.50 2.00
7 TOTAL CURRENT ASSETS ( total of items 1 to 9 ) 6.58 10.42 14.12 16.16

CURRENT LIABILITIES
( other than bank borrowing for working capital )
8 Creditors for purchases
-spares : Amount 0.76 3.25 0.25 0.30
: Month' s purchase 0.76 2.07 0.13 0.16
9 Advance to customers - - - -
10 Statutory Liability - - - -
11 Other Current Liabilities - specify major items 0.10 0.10 0.10 0.10
(a) S.T borrowings - others - - - -
(b) Dividend payable - - - -
(c ) Instalments of DPS & public deposits - - - -
(d) Other current liabilities & provisions 0.10 0.10 0.10 0.10
12 TOTAL OTHER CURRENT LIABILITIES ( total of items 8 to 1.51 3.35 0.35 0.40
FORM - V
PROJECTED BALANCE SHEET METHOD - ASSESSED BANK FINANCE (Rs. in Lacs)

M/S
As per Balance Sheet as at March 31'11 March 31'12 March 31'13 March 31'14
Actual Actual Estimated Projected
- - - -

1 Total Current Assets 6.58 10.42 14.12 16.16

2 Sundry Creditors 0.76 3.25 0.25 0.30
3 Other Current Liabilities 0.86 3.35 0.35 0.40
4 Working Capital Gap 5.72 7.07 13.77 15.76
5 Net Working Capital ( Actual / Projected ) 5.72 7.07 8.77 10.76
6 Assessed Bank Finance (0.00) 0.00 5.00 5.01
7 NWC / TCA ( % ) 86.93 67.80 62.08 66.55
8 OCL / TCA ( % ) 13.11 32.15 2.48 2.48
9 Sundry Creditors / TCA ( % ) 11.59 31.19 1.77 1.86
10 ABF / TCA ( % ) (0.04) 0.05 35.44 30.97
11 Inventory / Net Sales ( Days ) 67 91 118 123
12 Receivables / Gross Sales ( Days ) 21 31 39 39
13 Sundry Creditors / Purchases ( Days ) 23 63 4 5
______
FORM - V I
FUND FLOW STATEMENT (Rs. in Lacs)

As per Balance Sheet as at March 31'11 March 31'12 March 31'13 March 31'14
M/S Actual Actual Estimated Projected
- - - -

1 SOURCES
a Net Profit (after tax ) 1.85 1.97 2.59 3.40
b Depretiation 0.15 0.13 0.11 0.09
c)Increase in Capital 5.00 - - -
d Increase in Term Liabilities ( incliding public deposits ) - - - -
e Decrease in : I) Fixed Assets - - - -
ii) Other non - current asset - - - -
f)Others
g TOTAL 7.00 2.10 2.70 3.49
2 USES
a Net Loss - - - -
b Decrease in Term Liabilities ( including public deposits ) - - - -
c)Increase in : I) Fixed Assets 1.03 - - -
ii) Depretiation Adjustment - - - -
iii)Other non - current assets - - - -
d Decrease in Capital - - - -
e Dividend Payment / Profit Withdrawn 0.25 0.75 1.00 1.50
f)Others
f)TOTAL 1.28 0.75 1.00 1.50
3 Long Term Surplus / Deficit 5.72 1.35 1.70 1.99
CHECK 5.72 1.35 1.70 1.99
4 Increase / Decrease in Current Assets * 6.58 10.42 3.70 2.04
( as per details given below )
5 Increase / Decrease in Current Liabilities 0.86 3.35 2.00 0.05
( other than bank borrowings )
6 Increase / Decrease in Working Capital Gap 5.72 7.07 6.70 1.99
7 Net Surplus ( + ) / ( - ) 0.00 (5.73) (5.00) (0.00)
8 Increase / Decrease in Bank Borrowings - - 5.00 -
INCREASE / DECREASE IN NET SALES 15.00 20.50 5.13 2.56
* Break - up of ( 4 )
Increase / Decrease in Finished goods 2.75 5.10 3.15 1.25
Increase / Decrease in Receivables I) Domestic 0.85 1.75 1.00 0.25
ii) Export
Increase / Decrease in Other Current Assets 2.98 3.57 (0.45) 0.54
Total 6.58 10.42 3.70 2.04
PERFORMANCE AND FINANCIAL INDICATORS
March 31'11 March 31'12 March 31'13 March 31'14
M/S Actual Actual Estimated Projected
- - - -
PARTICULARS
Net Sales 15.00 20.50 25.63 28.19
PBT 1.85 1.97 2.59 3.40
PAT 1.85 1.97 2.59 3.40
PBT / Net Sales ( % ) 12.33 9.60 10.12 12.05
Paid up Capital 5.00 5.00 5.00 5.00
TNW 6.60 7.82 9.41 11.31
TOL / TNW 0.13 0.43 0.57 0.48
CR 7.63 3.11 2.64 2.99
PBT / TTA ( % ) 24.80 17.61 17.56 20.32
Net Sales / TTA ( times) 2.01 1.83 1.74 1.69
Operating Expenses / Net Sales ( % ) 86.67 89.78 87.22 85.59
BB / TTA ( % ) - - 33.87 29.92
Inv. + Rec. / Net sales ( days ) 7 10 157 162
Depretiation 0.15 0.13 0.11 0.09
Cash Accruals 2.00 2.10 2.70 3.49
NWC 5.72 7.07 8.77 10.76
PBDIT/TTA (R0CE) 26.81 18.75 22.18 24.31
PBDIT/INTT #DIV/0! #DIV/0! 5.71 7.08
PBT/NET SALES 12.33 9.60 10.12 12.05
Operating Expenses 13.00 18.41 22.35 24.13
Inv. + Rec. 3.60 6.85 11.00 12.50
BB - - 5.00 5.00
PBDIT 2.00 2.10 3.28 4.06
ASSESSMENT OF WORKING CAPITAL REQUIREMENT UNDER PBS METHOD

M/S March 31'11 March 31'12 March 31'13 March 31'14

Actual Actual Estimated Projected
- - - -
Total Current Assets 6.58 10.42 14.12 16.16
Other Current Liabilities 0.86 3.35 0.35 0.40
Working Capital Gap 5.72 7.07 13.77 15.76
NWC ( Actual / Projected ) 5.72 7.07 8.77 10.76
Assessed Bank Finance ( ABF ) (0.00) 0.00 5.00 5.01
NWC / TCA ( % ) 86.93 67.80 62.08 66.55
OCL / TCA ( % ) 13.11 32.15 2.48 2.48
Sundry Creditors / TCA ( % ) 11.59 31.19 1.77 1.86
ABF / TCA ( % ) (0.04) 0.05 35.44 30.97
Inventories / Net Sales ( Days ) 6 7 118 123
Receivables / Gross Sales ( Days ) 2 3 39 39
Sundry Creditors / Purchases ( Days ) 23 63 4 5

Net Sales 15.00 20.50 25.63 28.19

Gross Sales 15.00 20.50 25.63 28.19
Receivables 0.85 1.75 2.75 3.00
Inventory 2.75 5.10 8.25 9.50
Purchases 12.00 18.83 23.00 22.50
Sundry Creditors 0.76 3.25 0.25 0.30