BASIS AND PRESUMPTION OF THE PROJECT

 On a conservative basis it is estimated that the firm shall operate at an

average of 55% capacity of its installed capacity. Income Generation and
Expenditure chart as discussed above indicates that the firm will be in
profit from the first operating year itself. That the capacity then shall
increase by 5% p.a. each year onward.

 Revenue has been considered at Rs. 750 PER site.

 Machineries are durable in nature. However for practical purpose, the

life of the project is considered as Ten Years. Hence SLM Depreciation
method has been applied using 10% as depreciation rate so that the
cost of machine will be amortized in ten years.

 Purchase, Labour and power rates are applicable as per market rates.
For project purpose, 81% of the turnover has been allocated towards
consumables, 5% of the revenue has been allocated towards power &
fuel, 3% towards labour, 2% towards other direct expenses and 3%
towards selling & administrative expenses.

 Interest rate of 12.40% has been considered on term loan.

 Tax has not been considered.

 Moratorium Period has not been considered. The installment of New

Loan should commence from the 1st month of disbursement.
 MRS. BASANTI BAI MAAVASHKAR

Projected Balance Sheet

Particulars 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
Projected Projected Projected Projected Projected Projected Projected
Sources of Funds:
Proprietor's Capital:
Opening Balance 2.50 3.40 6.64 10.02 13.81 17.98 22.53
Add: Profit for the year 1.20 4.32 4.51 5.05 5.56 6.07 6.61
Add : Capital Infusion - - - - - - -
Less: Drawings 0.30 1.08 1.13 1.26 1.39 1.52 1.65
Closing Balance 3.40 6.64 10.02 13.81 17.98 22.53 27.49

Loans:
Term Loan 4.88 4.16 3.44 2.72 2.00 1.28 0.56

Current Liabilities & Provisions:

Sundry Creditors 0.01 0.09 0.09 0.10 0.11 0.11 0.12

Total 8.29 10.88 13.55 16.63 20.09 23.92 28.17

Application of Funds:
Fixed Assets
Opening WDV 7.50 6.75 6.00 5.25 4.50 3.75 3.00
Less: Depreciation 0.75 0.75 0.75 0.75 0.75 0.75 0.75
Closing WDV 6.75 6.00 5.25 4.50 3.75 3.00 2.25

Current Assets:
- Advances & Deposits - - - - - - -
- Sundry Debtors 0.22 2.63 2.84 3.06 3.28 3.50 3.72
- Inventories
- Raw Material - - - - - - -
- Stock In Progress - - - - - - -
- Finished Goods 0.88 1.31 1.42 1.53 1.64 1.75 1.86
- Cash & Cash Equivalents 0.45 0.95 4.04 7.54 11.41 15.67 20.34

Total 8.29 10.88 13.55 16.63 20.09 23.92 28.17

 MRS. BASANTI BAI MAAVASHKAR

Projected Profitability Statement

Particulars 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
Projected Projected Projected Projected Projected Projected Projected
I. INCOME
Sales 2.63 15.75 17.06 18.38 19.69 21.00 22.31
Change in Stock 0.88 0.44 0.11 0.11 0.11 0.11 0.11
Other Income - - - - - - -
Total 3.50 16.19 17.17 18.48 19.80 21.11 22.42

II. Expenditure
Purchases 1.00 7.88 8.53 9.19 9.84 10.50 11.16
Power & Fuel 0.13 0.79 0.85 0.92 0.98 1.05 1.12
Direct Labour 0.18 1.10 1.19 1.29 1.38 1.47 1.56
Direct Expenses 0.08 0.47 0.51 0.55 0.59 0.63 0.67
Selling & Administrative Expenses 0.05 0.32 0.34 0.37 0.39 0.42 0.45
Total 1.45 10.55 11.43 12.31 13.19 14.07 14.95

III. Profit Before Int. Dep. & Tax (I-II) 2.05 5.64 5.74 6.17 6.61 7.04 7.47

Interest :
- On C.C. Limit - - - - - - -
- On Term Loan 0.10 0.57 0.48 0.37 0.30 0.22 0.11
Depreciation 0.75 0.75 0.75 0.75 0.75 0.75 0.75
Tax - - - - - - -
IV. Total (Int., Dep. & Tax) 0.85 1.32 1.23 1.12 1.05 0.97 0.86

V. Profit After Tax (III-IV) 1.20 4.32 4.51 5.05 5.56 6.07 6.61

Debt Service Coverage Ratio:

Services:
Profit After Tax 1.20 4.32 4.51 5.05 5.56 6.07 6.61
Add: Depreciation 0.75 0.75 0.75 0.75 0.75 0.75 0.75
Add: Interest 0.10 0.57 0.48 0.37 0.30 0.22 0.11
Total (A) 2.05 5.64 5.74 6.17 6.61 7.04 7.47
Debt:
- Principal 0.12 0.72 0.72 0.72 0.72 0.72 0.72
- Interest on Term Loan 0.10 0.57 0.48 0.37 0.30 0.22 0.11
Total (B) 0.22 1.29 1.20 1.09 1.02 0.94 0.83

DSCR (A/B) 9.34 4.37 4.78 5.66 6.48 7.49 9.00

Average DSCR 6.73
 MRS. BASANTI BAI MAAVASHKAR

Cash Flow Statement

Particulars 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
Projected Projected Projected Projected Projected Projected Projected
Inflow:
Opening Cash & Bank - 0.45 0.95 4.04 7.54 11.41 15.67

Proprietor's Contribution 2.50 - - - - - -

Current Year Profit 1.20 4.32 4.51 5.05 5.56 6.07 6.61

Non Cash Expenditure Charged to P/L 0.75 0.75 0.75 0.75 0.75 0.75 0.75

Bank Finance 5.00 - - - - - -

Increase in Current Liabilities 0.01 0.07 0.01 0.01 0.01 0.01 0.01
Total 9.47 5.59 6.21 9.85 13.85 18.24 23.04

Outflow:
Fixed Assets 7.50 - - - - - -

Increase in Current Assets 1.09 2.84 0.33 0.33 0.33 0.33 0.33

Repayment of Term Loan 0.12 0.72 0.72 0.72 0.72 0.72 0.72

Proprietor's Withdrawals 0.30 1.08 1.13 1.26 1.39 1.52 1.65

Closing Cash & Bank 0.45 0.95 4.04 7.54 11.41 15.67 20.34
Total 9.47 5.59 6.21 9.85 13.85 18.24 23.04
MRS. BASANTI BAI MAAVASHKAR
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
Form II : Operating Statements

2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Projected Projected Projected Projected Projected Projected Projected
Level of Activity 10% 60% 70% 75% 80% 85% 90%
1. Gross Sales
(i) Domestic Sales 2.63 15.75 17.06 18.38 19.69 21.00 22.31
(ii)Exports - - - - - - -
2.Less : Excise Duty - - - - - - -
3.Net Sales (1 - 2) 2.63 15.75 17.06 18.38 19.69 21.00 22.31
4.% rise ( + ) or fall ( - ) in net sales
as compared to previous year 0% 500% 8% 8% 7% 7% 6%
5.Cost of Sales
(i)Raw Materials including stores and
other items used ( in the process of
manufacture)
(ii) (a) Imported - - - - - - -
(b) Indigenous 1.00 7.88 8.53 9.19 9.84 10.50 11.16
(iii) Power and Fuel 0.13 0.79 0.85 0.92 0.98 1.05 1.12
(iv) Direct labour (Factory wages and
salaries) 0.18 1.10 1.19 1.29 1.38 1.47 1.56
(v) Other direct expenses 0.08 0.47 0.51 0.55 0.59 0.63 0.67
(vi) Depreciation 0.75 0.75 0.75 0.75 0.75 0.75 0.75
(vii) Sub-total ( i to vi ) 2.14 10.99 11.84 12.69 13.55 14.40 15.25
(viii) ADD:Opening stock in Process - - - - - - -
Sub-total 2.14 10.99 11.84 12.69 13.55 14.40 15.25
(ix) DEDUCT :Closing stocks in
Process - - - - - - -
(x) Cost of Production 2.14 10.99 11.84 12.69 13.55 14.40 15.25
(xi) ADD: Opening stocks of
finished goods - 0.88 1.31 1.42 1.53 1.64 1.75
Sub-Total 2.14 11.86 13.15 14.12 15.08 16.04 17.00
(xii) DEDUCT: Closing stocks of
finished goods 0.88 1.31 1.42 1.53 1.64 1.75 1.86
(xiii) Sub-Total ( Total cost of sales
) 1.27 10.55 11.73 12.58 13.44 14.29 15.14
6. Selling and admn. expenses 0.05 0.32 0.34 0.37 0.39 0.42 0.45
7. Sub-total ( 5 + 6 ) 1.32 10.87 12.07 12.95 13.83 14.71 15.59
8. Operating Profit before interest
(3-7) 1.30 4.89 4.99 5.42 5.86 6.29 6.72
9. Interest 0.10 0.57 0.48 0.37 0.30 0.22 0.11
10. Operating Profit after interest
(8 - 9 ) 1.20 4.32 4.51 5.05 5.56 6.07 6.61
11.(i)Add:Other non-operating income
(ii) Deduct Other non-operating expenses - - - - - - -
Sub-total ( expenses )
(iii) Net of other non-operating
income / expenses net of 11 (1)
& (2) ) - - - - - - -
12. Profit before tax / loss ( 10 + 11
(iii) ) 1.20 4.32 4.51 5.05 5.56 6.07 6.61
13. Provision for taxes - - - - - - -
14. Net Profit / loss ( 12 - 13 ) 1.20 4.32 4.51 5.05 5.56 6.07 6.61
15. (a) Dividend (Proprietor's
withdrawal) 0.30 1.08 1.13 1.26 1.39 1.52 1.65
(b) Dividend Rate 25% 25% 25% 25% 25% 25% 25%
16. Retained Profit ( 14 -15 ) 0.90 3.24 3.38 3.79 4.17 4.55 4.96
17. Retained Profit/Net Profit 75% 75% 75% 75% 75% 75% 75%
ANALYSIS OF BALANCE SHEET
FORM - III

2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Projected Projected Projected Projected Projected Projected Projected
CURRENT LIABILITIES
1. Short term borrowings from
banks

(i) from applicant Bank-OCC& BILLS

(ii) from other banks
(iii) of which BP
Sub-Total (A) - - - - - - -
2.Short - term borrowings from
others
3.Sundry creditors ( trade ) 0.01 0.09 0.09 0.10 0.11 0.11 0.12
4.Advances payments from
customers / deposits from dealers
5.Provision for taxation
6.Dividend payable
7.Other statutory liabilities (due
within one year )
8.Deposits/ Debentures/
Instalments under term loans/
DPG's etc(due within one year ) 0.72 0.72 0.72 0.72 0.72 0.72 0.56
9.Other current liabilities and
provisions
(due within one year)
Sub-Total (B) 0.73 0.81 0.81 0.82 0.83 0.83 0.68

10. TOTAL CURRENT LIABILITIES 0.73 0.81 0.81 0.82 0.83 0.83 0.68
( Total of 1 to 9 )
TERM LIABILITIES
11.Debentures (not maturing within
one year)
12.Preference shares
( redeemable a-fter one year
13. Term loans ( excluding
instalments 4.16 3.44 2.72 2.00 1.28 0.56 -
payable within one year )
14. Deferred paym'ent credits
(excluding instalments p'ayable
within one year)
15.Term Deposits ( repayable after
one year)
16.Other term liabilities (Unsecured
Loans) - - - - - - -
17. TOTAL TERM LIABILITIES 4.16 3.44 2.72 2.00 1.28 0.56 -
( Total of 11 to 16 )
18. TOTAL OUTSIDE LIABILITIES (10
+ 17) 4.89 4.25 3.53 2.82 2.11 1.39 0.68
NET WORTH
19.Capital Account - 3.40 6.64 10.02 13.81 17.98 22.53
20. Capital Infusion 2.50 - - - - - -
22.Capital Subsidy - - - - - - -
23.Surplus (+) or deficit (-) in Profit
and loss account 0.90 3.24 3.38 3.79 4.17 4.55 4.96

24.NET WORTH ( Total of 19 to 23 ) 3.40 6.64 10.02 13.81 17.98 22.53 27.49
25.TOTAL LIABILITIES ( 18 + 24 ) 8.29 10.88 13.55 16.63 20.09 23.92 28.17
ANALYSIS OF BALANCE SHEET
FORM - III

2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Projected Projected Projected Projected Projected Projected Projected
ASSETS
Current Assets
26.Cash and bank balances 0.45 0.95 4.04 7.54 11.41 15.67 20.34
27.Investments ( other than long
term investments)
(i) Govt. and other Trustee Securities
(ii) Fixed Deposits with banks
28. (i) Receivables other than
deferred and export receivables 0.22 2.63 2.84 3.06 3.28 3.50 3.72
(ii) Export receivables
29. Instalments of deferred
receivables
30. Inventory :( i )Raw materials
(including stores and other items
used in the process of manufacture
( a ) Imported
( b ) Indigeneous
( i ) Stock - in – process
( ii ) Finished Goods 0.88 1.31 1.42 1.53 1.64 1.75 1.86
( iii )Other consumable spares
( a ) Imported
( b ) Indigeneous
31. Advance to suppliers of raw
materials Stores and spares
32.Advance payment of taxes

33. Other current assets (major

items To be specified individually )
Advances and Deposits
34. TOTAL CURRENT ASSETS 1.54 4.88 8.30 12.13 16.34 20.92 25.92
( Total of 26 to 33 )
Fixed Assets

35.Gross block ( land and buildings,

machinery, work-in-progress ) - 6.75 6.00 5.25 4.50 3.75 3.00
Addition 7.50 - - - - - -
36.Depreciation to date 0.75 0.75 0.75 0.75 0.75 0.75 0.75
37.NET BLOCK ( 35 – 36 ) 6.75 6.00 5.25 4.50 3.75 3.00 2.25
OTHER NON-CURRENT ASSETS
38.Investments/bookdebts/advances
/deposits which are not current
assets
( I ) (a) Investments in subsidiary
companies / affiliates
( ii ) ( b ) Others - - - - - - -
( iii )Deferred receivables (maturity
exceeding one year )
( iv) Others
39. Non-consumable stores and
spares
40. Other non-current assets
including Dues from Directors
41.TOTAL OTHER NON-CURRENT
ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANALYSIS OF BALANCE SHEET
FORM - III

2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Projected Projected Projected Projected Projected Projected Projected
42.INTANGIBLE ASSETS - - - - - - -
(patents, goodwill preliminary
expenses bad / doubtful debts not
provided for, etc.,)
43.TOTAL ASSETS 8.29 10.88 13.55 16.63 20.09 23.92 28.17
( Total of 34, 37, 41 & 42 )

44.TANGIBLE NET WORTH ( 24 - 42 ) 3.40 6.64 10.02 13.81 17.98 22.53 27.49

45.NET WORKING CAPITAL(34-09) 0.81 4.08 7.49 11.31 15.51 20.09 25.24

46.Current Ratio ( items 34 / 10

) 2.11 6.07 10.22 14.80 19.76 25.10 38.07

47.Total Outside liabilities /

Tanible net worth ( 18 / 44 ) 1.44 0.64 0.35 0.20 0.12 0.06 0.02

Additional Information :-- NIL NIL NIL NIL NIL NIL NIL
( A ) Arrears of depreciation :

( B ) Contingent liabilities:

( i ) Arrears of cumulative dividends

( ii ) Gratuity scheme for staff

( iii ) Other liabilities not provided for

Form IV
COMPARITIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Projected Projected Projected Projected Projected Projected Projected
A.CURRENT ASSETS
Raw material (including stores and other items
used in the process of manufacture )
a) Imported Months consumption
(b) Indigenious Months consumption
2.Other consumable spares
excluding those included in item ( i )
above
a) Imported Months consumption
(b) Indigenious Months consumption - - - - - - -
3.Stocks-In-Process
Months' cost of production - - - - - - -
4.Finished goods: 0.88 1.31 1.42 1.53 1.64 1.75 1.86
Months cost of sales
5. Receivables other than
export and deferred
receivables including bill
purchased and and discounted by
bankers 0.22 2.63 2.84 3.06 3.28 3.50 3.72
6.Export receivables (including bill
purchased and discounted Months
Export sales
7.Advances to suppliers of raw
materials & stores / spares
consumables

8.Other current assets including

cash and bank balances and
deferred receivables due with
in one year ( major items )
Cash & Bank balances 0.45 0.95 4.04 7.54 11.41 15.67 20.34
Advance Taxes
Others - - - - - - -

9.TOTAL CURRENT ASSETS 1.54 4.88 8.30 12.13 16.34 20.92 25.92
( To agree with 34 in form III )
B. CURRENT LIABILITIES
(Other than bank borrowings for working capital)

10.Creditors for purchase of raw

materials, stores & consumable
spares 0.01 0.09 0.09 0.10 0.11 0.11 0.12
( Month's purchases )

11.Advances from customers

12.Statutory liabilities
13.Other current liabilities
Instalments of TL & DPG Public
Deposits/ Unsecured Loans Others - - - - - - -

14.TOTAL 0.01 0.09 0.09 0.10 0.11 0.11 0.12

(to agree with Sub-total (B)
Form V
COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Projected Projected Projected Projected Projected Projected Projected

1. Total Current Assets ( 9 in Form IV ) 1.54 4.88 8.30 12.13 16.34 20.92 25.92

2. Other Current Liabilities 0.01 0.09 0.09 0.10 0.11 0.11 0.12
(Other than bank borrowing)
( 14 in Form IV )

3. Working capital gap (WCG) ( 1 -- 2 ) 1.53 4.80 8.21 12.03 16.23 20.81 25.80

4. Minimum stipulated net working

Capital i.e., 25 % of WCG / 25 % of
total current assets as the case 0.38 1.20 2.05 3.01 4.06 5.20 6.45
may be depending upon the method of
lending being applied (Export recei
-vables to be excl. in both methods)

5. Actual / Projected net working capital 1.53 4.80 8.21 12.03 16.23 20.81 25.80
( 45 in Form III )

6. Item 3 minus item 4 1.15 3.60 6.16 9.02 12.17 15.61 19.35

7. Item 3 minus item 5 - - - - - - -

8. Maximum permissible bank finance - - - - - - -

( item 6 or 7 whichever is lower )
Actual/Projected Bank Borrowings - - - - - - -

9. Excess borrowings ( representing - - - - - - -

shortfall in NWC)
Form V1
FUNDS FLOW STATEMENT

2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Projected Projected Projected Projected Projected Projected Projected
SOURCES
1.(a) Net Profit 1.20 4.32 4.51 5.05 5.56 6.07 6.61
(b) Depreciation 0.75 0.75 0.75 0.75 0.75 0.75 0.75
(c) Increase in capital 2.50 - - - - - -
(d) Increase in Term Liabilities
including public deposits 5.00 - - - - - -
(e) Decrease in
(i) Fixed Assets - - - - - - -
(ii) Other non-current assets
(f) Others : Subsidy - - - - - - -
(g) TOTAL 9.45 5.07 5.26 5.80 6.31 6.82 7.36
USES
2.(a) Net Loss
(b) Decrease in Term Liabilities
including public deposits 0.12 0.72 0.72 0.72 0.72 0.72 0.72
(c) Increase in
(i) Fixed Assets 7.50 - - - - -
(ii) Other non- current assets - - - - - - -
(d) Dividend (Proprietor's
Withdrawals) 0.30 1.08 1.13 1.26 1.39 1.52 1.65
(e) Others - - - - - - -
(f) TOTAL 7.92 1.80 1.85 1.98 2.11 2.24 2.37
3. Long Term Surplus ( + )/Deficit (-) ( 1 –1.53
2 ) 3.27 3.41 3.82 4.20 4.58 4.99
4.Increase / Decrease in Current
Assets * ( as per details given below
) 1.54 3.34 3.42 3.83 4.20 4.59 5.00
5.Increase / Decrease in Current
Liabilities other than Bank
borrowings ) 0.01 0.07 0.01 0.01 0.01 0.01 0.01
6.Increase/Decrease in Working
capital gap(4-5) 1.53 3.27 3.41 3.82 4.20 4.58 4.99
7. Net Surplus ( + ) / Deficit ( -- ) 0.00 - - - - - -
( difference of 3 & 6 )
8.Increase / Decrease in bank borrowings - - - - - - -
*Break-up of ( 4 ) :
(i) Increase / Decrease in Raw Materials - - - - - - -
(ii) Increase / Decrease in Stock-in-
Process - - - - - - -
(iii)Increase / Decrease in Finished Goods 0.88 0.44 0.11 0.11 0.11 0.11 0.11
(iv)Increase / Decrease in
Receivables
( a ) Domestic 0.22 2.41 0.22 0.22 0.22 0.22 0.22
( b ) Export
(v)Increase / Decrease in Stores & Spares - - - - - - -
(vi)Increase / Decrease in Other current assets
0.45 0.50 3.09 3.50 3.88 4.26 4.67
Total 1.54 3.34 3.42 3.83 4.20 4.59 5.00