Project Report &

CMA Data

EDEN'S PHOTO STUDIO

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Executive Summary
Business Details
Name of Business Firm EDEN'S PHOTO STUDIO

Business Industry Service

Nature of Business PHOTOGRAPHY STUDIO

Legal Constitution Proprietorship

Address NARAYANA VILAI, THETTICODE, KOLVEL
KANYAKUMARI

Pin Code 629177

Contact Phone 9788435331

Project & Loan Details

Fixed Capital to be Invested ₹ 750,000

Working Capital to be Invested ₹0
Total Project Cost ₹ 750,000

Term Loan ₹ 550,000

Working Capital CC limit ₹0
Total Loan Amount Needed ₹ 550,000

Loan Duration 5 Years

Moratorium Period 0 months
Type of Loan Needed Mudra Loan
Average DSCR 3.07

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Project Details
Cost of Project ₹ 750,000

Project Cost BreakUp

Computers, Printers, Servers, etc ₹ 700,000
Installation charge, Shipping, etc ₹ 50,000

Means & Cost of Finance

Source Share Amount Interest Rate
Own Capital 27% ₹ 200,000 N/A
Loan from Friends & Family 0% ₹0 N/A
Total Own Funds 27% ₹ 200,000
Term Loan 73% ₹ 550,000 11.45%
Working Capital Limit 0% ₹0 10.75%
Total 100% ₹ 750,000

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Promoter's Details
Mr VIJAI J is the founder/promoter of the Business Firm. The Promoter has done an indepth study of
the Project's feasibility and has the relevent experience to successfully implement the Project. The
Promoter is confident about the market potential of their Project and they are capable to overcome
competition & make sales as provided in the financial projections of this Report

Promoter Name Mr VIJAI J

Gender Male
Work Experience 3-7 years
Educational Qualifications Diploma in Mechanical Engineering
Address 241/1, KOKKOTTUMOOLAI, CHERUPPALOOR -
629161

Contact Phone 9788435331

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Business Scenario & Project Prospects
EDEN'S PHOTO STUDIO is planning to setup a project of PHOTOGRAPHY STUDIO. The Business firm
and its owners have the relevant expertise & experience to set up this project and make it run as a
profitable business in years to come.

As per Morgan Stanley Report, India is on track to become the world’s third largest economy by 2027,
surpassing Japan & Germany. India’s GDP could more than double from $3.5 trillion today to surpass
$7.5 trillion by 2031.
As per World Economic Forum (WEF), till 2005, 69% of India’s households were classified as “low
income. In the last 13 years, many households have become prosperous middle class. With a steady GDP
growth rate of 7.5% a year, by 2030 and 1 in 2 households will be in the high and upper-middle-income
segments – up from 1 in 4. The new middle-class households will represent an equal mix of existing
households becoming more prosperous & the creation of new households where youngsters are more
educated and better employed than their parents.
Additionaly, the rural market is now segregating itself into two cohorts – “developed rural” and the “rest
of rural India”. Incomes in developed rural areas are already on a par with small towns and vastly higher
than the rest of rural India. WEF projections suggest that developed rural India will be home to 240
million consumers by 2030.

The services sector is not only the dominant sector in India’s GDP, but also attracts significant foreign
investment and provides large-scale employment. India’s services sector GVA increased at a CAGR of
11.43% to Rs. 101.47 trillion in FY20, from Rs. 68.81 trillion in FY16. EDEN'S PHOTO STUDIO have
thoroughly evaluated the prospects of setting up PHOTOGRAPHY STUDIO business and the prospects
look very promising. The firm has studied the potential market opportunity and even on a conservative
basis they expect to reach profitability in a smooth and sustainable way. Based on market study, the firm
expects to achieve the sales and cash flows as detailed in the Projected Financials of this report.

Expected CAGR (FY 22-23 to FY 29-30) 62%

Total no. of employees to be engaged 2

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CMA DATA
Projected Income Statement
EDEN'S PHOTO STUDIO
Rs in Actual
Remaining
Current Year Projection Years --->
Particulars FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 29-30 FY 30-31

INCOME
Revenue Income / Gross
Sales 47,990.0 308,160.0 546,990.0 811,730.0 1,101,050.0 1,284,560.0 1,335,940.0 1,382,700.0

EXPENSES
Purchases (Stock, Raw
Material, etc) 7,200.0 26,980.0 34,854.1 50,916.4 66,734.0 74,887.3 75,404.4 77,302.0
Changes in Inventory (4,320.0) (626.7) (1,731.9) (3,284.3) (3,535.0) (2,306.6) (770.2) (808.7)
Rent & Lease Charges 10,500.0 42,000.0 46,746.0 48,148.4 49,592.8 51,080.6 52,357.6 53,666.6
Salary & Wages 14,400.0 81,408.0 128,217.6 176,085.5 226,710.1 233,511.4 239,349.2 245,332.9
Electricity, Fuel & Water 1,800.0 10,176.0 16,027.2 22,010.7 28,338.8 29,188.9 29,918.6 30,666.6
Repair & Maintenance 750.0 3,180.0 5,008.5 6,878.3 9,210.1 10,945.8 13,463.4 15,333.3
Transportation 900.0 5,088.0 8,013.6 11,005.3 14,169.4 14,594.5 14,959.3 15,333.3
Phone, Postage & Internet 2,550.0 10,812.0 11,352.6 11,693.2 12,044.0 12,405.3 12,715.4 13,033.3
Consumables, Spares, etc 1,800.0 10,176.0 16,027.2 22,010.7 28,338.8 29,188.9 29,918.6 30,666.6
Other expenses 900.0 5,088.0 8,013.6 11,005.3 14,169.4 14,594.5 14,959.3 15,333.3

EBITDA 11,510.0 113,878.7 274,461.5 455,260.4 655,277.7 816,469.4 853,664.2 886,840.7

Depreciation &
Ammortisation 71,875.0 259,218.8 157,335.9 95,935.5 58,865.2 36,427.4 22,798.5 14,479.9

EBIT -60,365.0 -145,340.1 117,125.6 359,324.9 596,412.5 780,042.0 830,865.7 872,360.9

Interest Expense 15,547.5 56,032.8 45,295.9 33,262.9 19,777.5 5,011.3 -0.0 -0.0

Profit Before Tax -75,912.5 -201,372.9 71,829.7 326,062.0 576,635.0 775,030.6 830,865.7 872,360.9

Tax Expense - - - - 28,940.1 70,206.4 81,820.1 90,451.1

PROFIT AFTER TAX -75,912.5 -201,372.9 71,829.7 326,062.0 547,694.9 704,824.3 749,045.6 781,909.8

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CMA DATA
Projected Balance Sheet
EDEN'S PHOTO STUDIO

Remaining Rs in Actual
Current Year Projection Years --->

Particulars FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 29-30 FY 30-31

SOURCES OF FUNDS

A. Own Funds
Initial Capital / Opening
Capital B/Fwd 200,000.0 143,423.3 -22,352.2 49,477.5 375,539.4 923,234.3 1,628,058.6 2,377,104.2
Additional Capital added 19,335.8 35,597.4 - - - 0.0 - -
Total Owner's Capital 219,335.8 179,020.7 -22,352.2 49,477.5 375,539.4 923,234.3 1,628,058.6 2,377,104.2
Current Year Profit / (Loss) -75,912.5 -201,372.9 71,829.7 326,062.0 547,694.9 704,824.3 749,045.6 781,909.8
Subsidy Received - - - - - - - -
Total Owner's Net Worth /
Closing Capital 143,423.3 -22,352.2 49,477.5 375,539.4 923,234.3 1,628,058.6 2,377,104.2 3,159,014.1

B. Long Term Liabilities

Term Loan from Bank 529,301.1 440,348.3 340,658.6 228,935.9 103,727.9 -0.0 -0.0 -0.0
Loan from Friends & Family - - - - - - - -

C. Current Liabilities
Working Capital Loan - - - - - - - -
Interest Payable 5,182.5 4,669.4 3,774.7 2,771.9 1,648.1 417.6 -0.0 -0.0
Provision for Taxation - - - - 28,940.1 70,206.4 81,820.1 90,451.1
Trade Payables 13,530.0 17,221.1 22,205.5 28,489.2 34,937.9 33,364.3 39,788.7 40,784.2

Total Sources of Funds 691,436.9 439,886.6 416,116.3 635,736.5 1,092,488.3 1,732,046.9 2,498,713.0 3,290,249.4

Remaining Rs in Actual
Current Year Projection Years --->
Particulars FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 29-30 FY 30-31
APPLICATION OF FUNDS

A. Non Current Assets

Fixed Assets
Gross Block 750,000.0 750,000.0 750,000.0 750,000.0 750,000.0 750,000.0 750,000.0 750,000.0
Depreciation till date 71,875.0 331,093.8 488,429.7 584,365.2 643,230.4 679,657.9 702,456.4 716,936.3
Net Block 678,125.0 418,906.3 261,570.3 165,634.8 106,769.6 70,342.1 47,543.6 33,063.7

B. Current Assets
Cash & Bank Balance 479.9 3,081.6 129,244.6 434,562.2 940,236.7 1,610,635.6 2,397,171.3 3,200,170.5
Trade Receivables - - - - - - - -
RM & WIP - - - - - - - -
Finished Goods / Stock In
Trade 4,320.0 4,946.7 6,678.6 9,962.8 13,497.8 15,804.4 16,574.6 17,383.3
Other Current Assets 8,512.0 12,952.1 18,622.8 25,576.7 31,984.2 35,264.8 37,423.5 39,631.8

Total Application of Funds 691,436.9 439,886.6 416,116.3 635,736.5 1,092,488.3 1,732,046.9 2,498,713.0 3,290,249.4

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CMA DATA
Cash Flow Statement
Remaining Rs in Actual
Current Year Projection Years --->
Particulars FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 29-30 FY 30-31

A. Cash Flow from Operating Activities

Net Profit After Tax (75,912.5) (201,372.9) 71,829.7 326,062.0 547,694.9 704,824.3 749,045.6 781,909.8
Add: Interest Expense 15,547.5 56,032.8 45,295.9 33,262.9 19,777.5 5,011.3 (0.0) (0.0)
Add: Depreciation 71,875.0 259,218.8 157,335.9 95,935.5 58,865.2 36,427.4 22,798.5 14,479.9

Operating Profit before

Working Capital Changes 11,510.0 113,878.7 274,461.5 455,260.4 626,337.6 746,263.0 771,844.2 796,389.7

(Increase)/Decrease in
Current Assets (other than
Cash) (12,832.0) (5,066.8) (7,402.6) (10,238.2) (9,942.4) (5,587.2) (2,928.9) (3,017.1)

Increase/(Decrease) in
Current Liabilities (other
than WC loan) 18,712.5 3,178.0 4,089.7 5,280.9 34,265.0 38,462.2 17,620.5 9,626.5
17,390.5 111,989.9 271,148.6 450,303.2 650,660.2 779,138.0 786,535.8 802,999.2

B. Cash Flow from Financing Activities

Interest Expense (15,547.5) (56,032.8) (45,295.9) (33,262.9) (19,777.5) (5,011.3) 0.0 0.0
Term Loan Taken/ (Repaid) 529,301.1 (88,952.8) (99,689.7) (111,722.7) (125,208.1) (103,727.9) (0.0) (0.0)

Working Capital Loan Taken

/ (Repaid) - - - - - - - -
Loan from Friends & Family - - - - - - - -
Capital Introduced /
(Drawings) 219,335.8 35,597.4 - - - 0.0 - -
Subsidy Received - - - - - - - -
733,089.4 (109,388.2) (144,985.6) (144,985.6) (144,985.6) (108,739.2) 0.0 (0.0)

C. Cash Flow from Investing Activities

Purchase of Fixed Assets (750,000.0) - - - - - - -

Total Cash Inflow/ /

(Outflow) (A+B+C) 479.9 2,601.7 126,163.0 305,317.6 505,674.6 670,398.8 786,535.8 802,999.2
Add Opening Cash Balance - 479.9 3,081.6 129,244.6 434,562.2 940,236.7 1,610,635.6 2,397,171.3
Closing Cash Balance 479.9 3,081.6 129,244.6 434,562.2 940,236.7 1,610,635.6 2,397,171.3 3,200,170.5

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CMA DATA
Key Ratios & Feasibility
Remaining
Current Year Projection Years --->
Particulars FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 29-30 FY 30-31

Long-term Solvency Ratios

Debt Equity Ratio 3.69 -19.70 6.89 0.61 0.11 -0.00 -0.00 -0.00
TOL/TNW 3.82 -20.68 7.41 0.69 0.18 0.06 0.05 0.04

Interest Coverage 0.74 2.03 6.06 13.69 33.13 162.92 ########################

Debt Service Coverage
Ratio (DSCR - Working
Below) 0.32 0.79 1.89 3.14 4.32 6.86 - -

Short-term Solvency Ratios

Current Ratio 0.71 0.96 5.95 15.04 15.04 15.98 20.16 24.82
Quick Ratio or Liquid Ratio 0.03 0.14 4.97 13.90 14.35 15.49 19.71 24.38

Profitability Ratios
Gross Profit Margin 69.6% 70.0% 74.9% 76.5% 77.5% 79.6% 79.9% 80.1%
EBIDTA Margin 24.0% 37.0% 50.2% 56.1% 59.5% 63.6% 63.9% 64.1%
Net Profit Margin -158.2% -65.3% 13.1% 40.2% 49.7% 54.9% 56.1% 56.5%

Activity Ratios (on closing value)

Debtors Turnover (days) - - - - - - - -
Trade Payables (days) 29.85 31.55 29.03 28.38 27.77 25.17 29.11 29.00
Inventory Turnover (days)* 54.00 66.92 69.94 71.42 73.83 77.03 80.23 82.08
Fixed Assets to Turnover
Ratio 0.07 0.74 2.09 4.90 10.31 18.26 28.10 41.82

*Closing Inventory value considered

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CMA DATA
Maximum Permissible Bank Finance (MPBF) Calculation
Remaining Rs in Actual
Current Year Projection Years --->
Particulars FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 29-30 FY 30-31

Total Current Assets (1) 13,311.9 20,980.4 154,546.0 470,101.7 985,718.7 1,661,704.7 2,451,169.4 3,257,185.6

Total Current Liabilities

(other than Bank Borrowing)
(2) 18,712.5 21,890.5 25,980.2 31,261.1 65,526.1 103,988.3 121,608.8 131,235.3
Working Capital Gap (1-2) -5,400.6 -910.1 128,565.8 438,840.6 920,192.6 1,557,716.5 2,329,560.6 3,125,950.3

1st Method of Lending

Minimum Stipulated Net
Working Capital -1,350.1 -227.5 32,141.4 109,710.2 230,048.2 389,429.1 582,390.2 781,487.6
MPBF 1st method -4,050.4 -682.6 96,424.3 329,130.5 690,144.5 1,168,287.4 1,747,170.5 2,344,462.7

2nd Method of Lending

Minimum Stipulated Net

Working Capital 3,328.0 5,245.1 38,636.5 117,525.4 246,429.7 415,426.2 612,792.4 814,296.4
MPBF 2nd method -8,728.6 -6,155.2 89,929.3 321,315.2 673,763.0 1,142,290.3 1,716,768.3 2,311,653.9

Percentage of Sales method

Gross Revenue / Sales 47,990.0 308,160.0 546,990.0 811,730.0 1,101,050.0 1,284,560.0 1,335,940.0 1,382,700.0

MPBF - 25% of Sales 11,997.5 77,040.0 136,747.5 202,932.5 275,262.5 321,140.0 333,985.0 345,675.0

Actual Working Capital

Loan O/s - - - - - - - -

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DSCR Calculation
Remaining Rs in Actual
Current Year Projection Years --->
Particulars FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 29-30 FY 30-31

PAT + Depreciation +
Interest 11,510.0 113,878.7 274,461.5 455,260.4 626,337.6 746,263.0 771,844.2 796,389.7

Interest payment 15,547.5 56,032.8 45,295.9 33,262.9 19,777.5 5,011.3 -0.0 -0.0
Principal Repayment of
Term Loan 20,698.9 88,952.8 99,689.7 111,722.7 125,208.1 103,727.9 0.0 0.0
Principal Repayment of
Working Capital Limit - - - - - - - -

Total Repayment during the

year 36,246.4 144,985.6 144,985.6 144,985.6 144,985.6 108,739.2 - -

DSCR 0.32 0.79 1.89 3.14 4.32 6.86 - -

Average DSCR (Term Loan + Working Capital Loan) 3.07

Average DSCR (Term Loan only) 3.07

Term Loan Repayment Schedule

Term Loan Amount ₹ 550,000
Loan O/s after Moratorium Period ₹ 550,000
Monthly EMI Amount ₹ 12,082

Year Interest Charged Total Payment to Principal Repaid Closing Loan O/s
Bank

FY 23-24 15,547 36,246 20,699 529,301

FY 24-25 56,033 144,986 88,953 440,348
FY 25-26 45,296 144,986 99,690 340,659
FY 26-27 33,263 144,986 111,723 228,936
FY 27-28 19,778 144,986 125,208 103,728
FY 28-29 5,011 108,739 103,728 -0
FY 29-30 -0 - 0 -0
FY 30-31 -0 - 0 -0
159,380 724,928 550,000

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Depreciation Schedule

Asset to be purchased Depreciation Rate

Computers, Printers, Servers, etc 40%
Installation charge, Shipping, etc 15%

*Depreciation is worked out on WDV basis

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Assumptions Used
Capacity Utilisation
It is assumed that post investment of loan funds into business, the business would reach its optimum capacity in the following manner

Current Year Year 1 Year 2 Year 3 Year 4 Year 5

Sales Capacity of Business 20% 30% 50% 70% 90% 100%

Exepenses Capacity (Variable

& Semi Variable) 30% 40% 60% 80% 100% 100%

Nature of our Product / Service WEDDING AND STUDIO SITTING PHOTO

Estimated Sales
In Projected Years, Sales are considered at the operational capacity tabulated above. Over the years the current selling price is inceased
marginally as it is assumed that after our product/service is established in the market, we will be able to command premium due to
Business Goodwill

Particulars Current Year Year 1 Year 2 Year 3 Year 4 Year 5

Average Sales per Day ₹ 533 ₹ 1,027 ₹ 1,823 ₹ 2,706 ₹ 3,670 ₹ 4,282

Estimated Expenses

Based on the working experience and market study, the Promoters have assumed that at 100% operational capacity, following expenses
would have to be incurred

Particulars Monthly Cost at current prices

Purchases (Stock, Raw Material, etc)* ₹ 5,000
Rent & Lease Charges ₹ 3,500
Salary & Wages* ₹ 16,000
Electricity, Fuel & Water* ₹ 2,000
Repair & Maintenance ₹ 500
Transportation* ₹ 1,000
Telephone/postage & Internet costs ₹ 850
Advertising & Marketing ₹0
Insurance expenses ₹0
Consumables, Spares, Stores, etc* ₹ 2,000
Other expenses ₹ 1,000
Total ₹ 31,850
*These Expenses (50% of Salary) are considered to calculate Gross Profit margin

Current Year Period

For the Current Period, the projections worked out are for the balance period of 3 month(s)

Adjustment for Inflation

In Sales & Expenses, both, nominal adjustment for price increase due to inflation is made

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Conclusion
EDEN'S PHOTO STUDIO setting and expanding business in KANYAKUMARI will allow the firm to offer their
products and services to more people who need it. As per the financial projections, it is expected that the
Business will comfortabiliy reach below state at the end of 7 years

Gross Profit Margin 80%

Net Profit Margin 57%

EDEN'S PHOTO STUDIO , to conclude wants to run the business of PHOTOGRAPHY STUDIO as a going concern for
years and years. The Business Entity has already made lot of efforts in reviweing the technical viability of the
business, as well as making the financial projections. The entity will make continous efforts in running a
profitable & growing business. Thus with your financial help, we can postively impact the community by
providing better products & services as well as create more employment opportunites to the locals

END OF REPORT
Contact Person VIJAI J
Contact Number 9788435331

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Suggestions to Improve your Project Report
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Please Check for the below points

Your Average DSCR Ratio should not be very low (<1.5) nor very high (>5). If your DSCR value is not in this
range, then please click below button to know how to improve your DSCR
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Your Working Capital Loan Limit should not be more than permissible limit (MPBF), If yes, then kindly reduce
the loan limit to met the requirement. Refer MPBF calculation sheet to check the permissible limit

Also, your working capital loan value should not be in excess than required. Check the cash balance in the
Balance Sheet, it should not be more than 50% of the working capital loan. This would mean that your working
capital loan amount is lying idle in cash and not used for business. Try to keep the working capital loan not
more than twice the monthly expenses amount

Try to maintain your GP Ratio or EBITDA margin within acceptable limits of your industry average. You can
change the ratio by changing the Sales Values - Edit Sales using Sales and Operational Capacity

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