MIRA
INFORM REPORT
|
Report Date : |
09.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRAGATI EDIBLE PROCESSING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
‘Vinayak Complex’, 55/1B, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 [Provisional] |
|
|
|
|
Date of
Incorporation : |
30.11.2007 |
|
|
|
|
Com. Reg. No.: |
21-120737 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.958
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15311WB2007PTC120737 |
|
|
|
|
IEC No.: |
0208004874 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECP4984F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Exporter of Rice. |
|
|
|
|
No. of Employees
: |
123 (6 in Office and 117 in Factory) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company has provided us with provisional financial statement for
the year 2014. As per available financial statement of 2013, financial position of
the company seems to be decent. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes that many things such as apartment
sales, luxury products, etc. were largely bought with dirty money. And it is
now beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = B- [Suspended] |
|
Rating Explanation |
Have high risk of default |
|
Date |
26.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4 [Suspended] |
|
Rating Explanation |
Have minimal degree of safety and carry high
credit risk. |
|
Date |
26.05.2014 |
Reason for Suspension:
The suspension of rating is on account of
non-cooperation by company with CRISIL’S effort to undertake a review of the
ratings outstanding.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Nitin Mittal |
|
Designation : |
Manager |
|
Contact No.: |
91-9836033393 |
|
Date : |
03.09.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
‘Vinayak Complex’, 55/1B, Strand Road, 2nd Floor, Kolkata – 700006, West Bengal, India |
|
Tel. No.: |
91-33-22591055/ 1066 |
|
Mobile No.: |
91-9836033393 [Mr. Nitin Mittal] |
|
Fax No.: |
91-33-22591952 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory : |
Village Kajla, P.O Jakpur
Kharagpur, District Paschim Medinipur – 721301, West Bengal, India |
|
Tel. No.: |
91-322-2651716/ 2291093/ 94 |
|
E-Mail : |
|
|
Area : |
280000 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Purushottam Agarwal |
|
Designation : |
Director |
|
Address : |
246/247, Bal Brahmachari Galli, Lake Town, Kolkata – 700089, West Bengal,
India |
|
Date of Birth/Age : |
09.11.1966 |
|
Qualification : |
Graduate B.Com [Hon] |
|
Experience : |
21 Years |
|
Date of Appointment : |
30.11.2007 |
|
PAN No.: |
ACYPA2021M |
|
DIN No.: |
00848789 |
|
|
|
|
Name : |
Mr. Sunil Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
246/247, Bal Brahmachari Galli, Lake Town, Kolkata – 700089, West Bengal,
India |
|
Date of Birth/Age : |
44 Years |
|
Qualification : |
Graduate B.Com [Hon] |
|
Experience : |
19 Years |
|
Date of Appointment : |
30.11.2007 |
|
DIN No.: |
01266529 |
KEY EXECUTIVES
|
Name : |
Mr. Nitin Mittal |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Names of Shareholders |
|
No. of Shares |
|
Purushottam Agarwal |
|
100000 |
|
Sunil Kumar Agarwal |
|
72000 |
|
Pan Tradecom Private Limited |
|
180000 |
|
Majestick Dealtrade Private Limited |
|
190000 |
|
Purushottam Agarwal (HUF) |
|
200 |
|
Neelam Agarwal |
|
200 |
|
Sunil Kumar Agarwal (HUF) |
|
6500 |
|
Sunita Agarwal |
|
6250 |
|
Starwise Commerce Private Limited |
|
40323 |
|
Champion Vintrade Private Limited |
|
60000 |
|
Wellknown Infraprojects Private Limited |
|
80323 |
|
Avatar Suppliers Private Limited |
|
40000 |
|
Anderson Deal Trade Private Limited |
|
20000 |
|
|
|
|
|
Total |
|
795796 |
AS ON 31.03.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
76.73 |
|
Directors
or relatives of directors |
23.27 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Rice. |
|
|
|
|
Brand Name : |
“PRAGATI” |
|
|
|
|
Exports : |
|
|
Products : |
Rice |
|
Countries : |
· Singapore Bangladesh Germany Dubai,
UAE Austria Costa
Rica (Central America) Niger |
|
Trade references
: |
· PT. Oscar Karunia Cemerlang Progati
Electronics Hounyo
Gmbh Shivom
General Trading LLC Mosharaf
Hussain Compania
Arrocera Industrial S.A. Societe
Pure International SARL |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit [30 days - 60 days] |
|
|
|
|
Purchasing : |
Cash and Credit [30 days] |
PRODUCTION STATUS
|
Products |
Installed
Capacity |
Actual
Production |
|
Rice |
28,700.000 M Tons |
22,298.443 M Tons |
|
|
|
|
|
Rice Bran |
2,800.000 M Tons |
2,126.212 M Tons |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and Others [FCI, Food and Supply Department of WB, Merchant Exporters] |
||||||||||||||
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|
|
||||||||||||||
|
No. of Employees : |
123 (6 in Office and 117 in Factory) (Approximately) |
||||||||||||||
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|
||||||||||||||
|
Bankers : |
· United Bank of India Lohapatty Branch, 23/3, Maharshi Devendra Road, Kolkata –
700007, West Bengal, India |
||||||||||||||
|
|
|
||||||||||||||
|
Facilities : |
Credit Limit : Rs. 96.031 Millions [From United Bank of India]
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dhanania and Associates Chartered Accountants |
|
Address : |
114/1A, Cotton Street, 1st Floor, Kolkata – 700006, West Bengal, India |
|
Tel. No.: |
91-33-30626365/ 22701580 |
|
Fax No.: |
91-33-22730527 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
ADKPD0399J |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
795796 |
Equity Shares |
Rs. 10/- each |
Rs. 7.958
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 [Provisional] |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.958 |
7.152 |
5.552 |
|
(b) Reserves & Surplus |
100.574 |
85.429 |
63.012 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
108.532 |
92.581 |
68.564 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
24.472 |
37.620 |
|
(b) Deferred tax liabilities (Net) |
4.962 |
4.961 |
0.255 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
4.962 |
29.433 |
37.875 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
45.097 |
28.810 |
29.633 |
|
(b)
Trade payables |
2.533 |
3.232 |
6.036 |
|
(c) Other
current liabilities |
15.421 |
14.943 |
14.852 |
|
(d) Short-term
provisions |
4.772 |
2.172 |
0.409 |
|
Total Current
Liabilities (4) |
67.823 |
49.157 |
50.930 |
|
|
|
|
|
|
TOTAL |
181.317 |
171.171 |
157.369 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
75.004 |
88.864 |
87.561 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
7.872 |
3.371 |
0.243 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.155 |
3.368 |
7.843 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
83.031 |
95.603 |
95.647 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
49.436 |
37.146 |
38.026 |
|
(c) Trade
receivables |
24.308 |
18.984 |
2.284 |
|
(d) Cash
and cash equivalents |
(3.839) |
6.746 |
6.915 |
|
(e)
Short-term loans and advances |
28.351 |
12.692 |
14.421 |
|
(f)
Other current assets |
0.030 |
0.000 |
0.076 |
|
Total
Current Assets |
98.286 |
75.568 |
61.722 |
|
|
|
|
|
|
TOTAL |
181.317 |
171.171 |
157.369 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 [Provisional] |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
562.344 |
514.520 |
170.443 |
|
|
|
Other Income |
1.874 |
0.344 |
0.315 |
|
|
|
TOTAL (A) |
564.218 |
514.864 |
170.758 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
505.325 |
417.630 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
13.773 |
177.547 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(10.980) |
6.024 |
(38.026) |
|
|
|
Employees benefits expense |
2.631 |
2.528 |
0.868 |
|
|
|
Other expenses |
50.360 |
54.212 |
17.659 |
|
|
|
TOTAL (B) |
547.336 |
494.167 |
158.048 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
16.882 |
20.697 |
12.710 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.652 |
7.650 |
7.780 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.230 |
13.047 |
4.930 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.801 |
3.825 |
2.785 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.429 |
9.222 |
2.145 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.605 |
4.359 |
0.663 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.824 |
4.863 |
1.482 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.32 |
6.80 |
3.41 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 [Provisional] |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.03 |
0.94 |
0.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.50 |
1.79 |
1.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.86 |
5.61 |
1.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.10 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.42 |
0.58 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.54 |
1.21 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014
Provisional |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
5.552 |
7.152 |
7.958 |
|
Reserves & Surplus |
63.012 |
85.429 |
100.574 |
|
Net worth |
68.564 |
92.581 |
108.532 |
|
|
|
|
|
|
Long-term borrowings |
37.620 |
24.472 |
0.000 |
|
Short term borrowings |
29.633 |
28.810 |
45.097 |
|
Total
borrowings |
67.253 |
53.282 |
45.097 |
|
Debt/Equity ratio |
0.981 |
0.576 |
0.416 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014
[Provisional] |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
170.443 |
514.520 |
562.344 |
|
|
|
201.872 |
9.295 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014
[Provisional] |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
170.443 |
514.520 |
562.344 |
|
Profit |
1.482 |
4.863 |
5.824 |
|
|
0.87% |
0.95% |
1.04% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
------------------------------------------------------------------------------------------------------------------------------
COST OF
PROJECT
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
|
AMOUNT |
|
1 |
LAND DEVELOPMENT |
|
0.000 |
|
|
|
|
|
|
2 |
CIVIL CONSTRUCTION |
|
|
|
|
Foundation, Flooring, Electrical Fittings etc. |
3.000 |
|
|
|
Pre-Fabricated Shed Structural |
3.200 |
|
|
|
Sheeting |
0.800 |
|
|
|
Labour Charges |
1.500 |
8.500 |
|
|
|
|
|
|
3 |
CONTINGENCIES @ 3% |
|
0.425 |
|
|
|
|
|
|
|
TOTAL |
|
8.925 |
MEANS OF FINANCE
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
|
AMOUNT |
|
1 |
Promoters' Contributions |
|
3.571 |
|
|
|
|
|
|
2 |
Term Loan |
|
5.354 |
|
|
|
|
|
|
|
TOTAL |
|
8.925 |
|
Debt Equity
Ratio |
1.50 |
|
|
|
|
Working Capital
Loan |
Rs. 45.097
Millions |
------------------------------------------------------------------------------------------------------------------------------
DEBT SERVICE
COVERAGE RATIO
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
2014-2015 |
2015-2016 |
2016-2017 |
2017-2018 |
2018-2019 |
|
|
|
Projected |
Projected |
Projected |
Projected |
Projected |
|
A) |
SOURCE OF FUNDS |
|
|
|
|
|
|
i) |
PAT |
12.188 |
29.657 |
29.767 |
29.830 |
30.013 |
|
|
|
|
|
|
|
|
|
ii) |
Depreciation |
3.989 |
4.064 |
4.064 |
4.064 |
4.064 |
|
|
|
|
|
|
|
|
|
iii) |
Interest on Term Loan |
1.107 |
0.533 |
0.393 |
0.236 |
0.079 |
|
|
|
|
|
|
|
|
|
iv) |
Subsidy Received |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
TOTAL |
17.284 |
34.255 |
34.224 |
34.129 |
34.156 |
|
|
|
|
|
|
|
|
|
B) |
USE OF
FUNDS |
|
|
|
|
|
|
i) |
Interest on Term Loan |
1.107 |
0.533 |
0.393 |
0.236 |
0.079 |
|
|
|
|
|
|
|
|
|
ii) |
Repayment of Term Loan-I |
10.477 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
iii) |
Repayment of Term Loan-II |
0.179 |
1.072 |
1.368 |
1.368 |
1.367 |
|
|
|
|
|
|
|
|
|
|
TOTAL |
11.763 |
1.605 |
1.761 |
1.604 |
1.446 |
|
|
|
|
|
|
|
|
|
C) |
Gross D.S.C.R. |
1.47 |
21.34 |
19.43 |
21.28 |
23.63 |
|
|
|
|
|
|
|
|
|
D) |
Gross Average D.S.C.R. |
3.84 |
||||
|
|
|
|
|
|
|
|
|
E) |
Net Average
D.S.C.R. |
4.08 |
||||
------------------------------------------------------------------------------------------------------------------------------
CALCULATION OF WORKING
CAPITAL REQUIREMENTS
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
Holding Period |
2014-2015 |
2015-2016 |
2016-2017 |
2017-2018 |
|
|
|
Months |
Projected |
Projected |
Projected |
Projected |
|
|
CURRENT ASSETS |
|
|
|
|
|
|
1 |
Raw Materials |
1.15 |
47.183 |
49.804 |
49.804 |
49.804 |
|
|
|
|
|
|
|
|
|
2 |
Packing Materials |
2.00 |
1.361 |
1.436 |
1.436 |
1.436 |
|
|
|
|
|
|
|
|
|
3 |
Stores and Spares |
1.00 |
0.175 |
0.200 |
0.225 |
0.250 |
|
|
|
|
|
|
|
|
|
4 |
Work in Progress |
0.03 |
1.440 |
1.520 |
1.520 |
1.521 |
|
|
|
|
|
|
|
|
|
5 |
Finished Goods |
0.50 |
22.940 |
24.174 |
24.183 |
24.190 |
|
|
|
|
|
|
|
|
|
6 |
Sundry Debtors |
0.50 |
25.199 |
26.553 |
26.611 |
26.611 |
|
|
|
|
|
|
|
|
|
A |
Total Current
Assets |
|
98.298 |
103.687 |
103.780 |
103.813 |
|
|
|
|
|
|
|
|
|
|
Less: Current
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Creditors for goods |
0.06 |
2.485 |
2.655 |
2.642 |
2.642 |
|
|
|
|
|
|
|
|
|
B |
Total Current
Liabilities |
|
2.485 |
2.655 |
2.642 |
2.642 |
|
|
|
|
|
|
|
|
|
C |
Working Capital
Required (A-B) |
|
95.813 |
101.032 |
101.138 |
101.171 |
|
|
|
|
|
|
|
|
|
|
Less: Margin
Money |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
On Stock |
25% |
17.871 |
18.854 |
18.856 |
18.858 |
|
2 |
On Debtors |
25% |
6.300 |
6.638 |
6.653 |
6.653 |
|
|
|
|
|
|
|
|
|
D |
Total Margin
Money Required |
|
24.171 |
25.492 |
25.509 |
25.511 |
|
|
|
|
|
|
|
|
|
E |
Working Capital
Requirements (Net) |
|
71.642 |
75.540 |
75.629 |
75.661 |
|
|
|
|
|
|
|
|
|
F |
Working Capital
Limit Approved |
|
70.000 |
70.000 |
70.000 |
70.000 |
|
|
|
|
|
|
|
|
|
G |
Interest on
above @ |
11.50% |
8.050 |
8.050 |
8.050 |
8.050 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED
BALANCE SHEET
(RS. IN MILLIONS)
|
LIABILITIES |
2014-2015 |
2015-2016 |
2016-2017 |
2017-2018 |
2018-2019 |
|
|
Projected |
Projected |
Projected |
Projected |
Projected |
|
EQUITY AND
LIABILITY |
|
|
|
|
|
|
Shareholders fund |
|
|
|
|
|
|
(a) Equity Share Capital |
7.958 |
7.958 |
7.958 |
7.958 |
7.958 |
|
|
|
|
|
|
|
|
(b) Reserve and Surplus: |
|
|
|
|
|
|
(I) Securities Premium |
88.514 |
88.514 |
88.514 |
88.514 |
88.514 |
|
(II) Profit and Loss |
28.111 |
57.770 |
87.537 |
117.367 |
147.380 |
|
Total |
124.582 |
154.241 |
184.008 |
213.838 |
243.851 |
|
|
|
|
|
|
|
|
NON-CURRENT
LIABILITIES |
|
|
|
|
|
|
(a) Long-term Borrowings: |
|
|
|
|
|
|
(I) Term Loan-I |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(II) Term Loan-II |
4.103 |
2.735 |
1.367 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(b) Unsecured Loans |
2.200 |
2.200 |
2.200 |
2.200 |
2.200 |
|
|
|
|
|
|
|
|
(c) Deferred Tax Liability |
4.962 |
4.962 |
4.962 |
4.962 |
4.962 |
|
Total |
11.265 |
9.897 |
8.529 |
7.162 |
7.162 |
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
(a) Short Term Borrowings |
70.000 |
70.000 |
70.000 |
70.000 |
70.000 |
|
|
|
|
|
|
|
|
(b) Trade Payable |
2.483 |
2.654 |
2.640 |
2.640 |
2.640 |
|
|
|
|
|
|
|
|
(c) Other Current Liabilities |
|
|
|
|
|
|
(I) Maturities due within one year |
1.072 |
1.368 |
1.368 |
1.367 |
0.000 |
|
(II) Interest accrued and due on Borrowing |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(III) Advance from Customer |
0.095 |
0.095 |
0.095 |
0.095 |
0.095 |
|
(IV) Liabilities for Expenses |
1.778 |
1.903 |
2.028 |
2.153 |
2.278 |
|
(V) Other Current Liabilities |
1.420 |
1.425 |
1.430 |
1.435 |
1.440 |
|
|
|
|
|
|
|
|
(d) Short Term Provisions |
|
|
|
|
|
|
Provision for Taxation |
3.816 |
12.420 |
12.475 |
12.505 |
12.596 |
|
Total |
80.664 |
89.865 |
90.036 |
90.195 |
89.049 |
|
|
|
|
|
|
|
|
TOTAL |
216.511 |
254.002 |
282.572 |
311.194 |
340.061 |
|
|
|
|
|
|
|
|
NON-CURRENT
ASSETS |
|
|
|
|
|
|
(a) Fixed Assets: |
|
|
|
|
|
|
(I) Tangible Assets: |
|
|
|
|
|
|
Fixed Assets |
85.338 |
85.338 |
85.338 |
85.338 |
85.338 |
|
Less: Depreciation |
13.112 |
17.176 |
21.240 |
25.304 |
29.367 |
|
Net Tangible Assets |
72.226 |
68.162 |
64.098 |
60.035 |
55.971 |
|
(II) Capital Work in Progress |
20.372 |
31.372 |
47.172 |
63.172 |
79.772 |
|
(III) Intangible Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(b) Long-term Loans and Advances: |
|
|
|
|
|
|
Security Deposits |
0.091 |
0.091 |
0.091 |
0.091 |
0.091 |
|
|
|
|
|
|
|
|
(c) Non-Current Investment |
0.155 |
0.155 |
0.155 |
0.155 |
0.155 |
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
(a) Inventories: |
|
|
|
|
|
|
(I) Raw Materials |
47.183 |
49.804 |
49.804 |
49.804 |
49.804 |
|
(II) Packing Materials |
1.310 |
1.386 |
1.386 |
1.386 |
1.386 |
|
(III) Stores and Spares |
0.175 |
0.200 |
0.225 |
0.250 |
0.250 |
|
(IV) Work in Progress |
1.440 |
1.520 |
1.520 |
1.521 |
1.521 |
|
(V) Finished Goods |
22.940 |
24.174 |
24.183 |
24.190 |
24.190 |
|
|
|
|
|
|
|
|
(b) Trade Receivables |
24.255 |
25.609 |
25.667 |
25.667 |
25.667 |
|
|
|
|
|
|
|
|
(c) Cash and Bank Balance |
3.356 |
18.474 |
34.661 |
50.814 |
66.645 |
|
|
|
|
|
|
|
|
(d) Short-term Loans and Advances: |
|
|
|
|
|
|
(I) Advance Tax |
4.995 |
13.600 |
13.654 |
13.654 |
13.654 |
|
(II) Loans and Advances |
7.654 |
8.154 |
8.654 |
9.154 |
9.654 |
|
(III) Advance to Supplier |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(IV) Fixed Deposits |
10.358 |
10.358 |
10.358 |
10.358 |
10.358 |
|
|
|
|
|
|
|
|
(e) Other Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total |
123.667 |
153.278 |
170.112 |
186.798 |
203.129 |
|
|
|
|
|
|
|
|
TOTAL |
216.511 |
253.058 |
281.629 |
310.251 |
339.118 |
|
|
|
|
|
|
|
|
Current Ratio |
1.40 |
1.59 |
1.77 |
1.96 |
2.16 |
|
|
|
|
|
|
|
|
TOL/TNW |
0.74 |
0.65 |
0.54 |
0.46 |
0.39 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED
PROFITABILITY STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
No. of Months |
2014-2015 |
2015-2016 |
2016-2017 |
2017-2018 |
2018-2019 |
|
|
|
Projected |
Projected |
Projected |
Projected |
Projected |
|
INCOME: |
|
|
|
|
|
|
|
Gross Domestic Sales |
VI |
407.480 |
446.086 |
447.067 |
447.067 |
447.067 |
|
Less: Excise Duty |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Domestic
Sales |
|
407.480 |
446.086 |
447.067 |
447.067 |
447.067 |
|
|
|
|
|
|
|
|
|
Net Export Sales |
|
174.634 |
191.180 |
191.600 |
191.600 |
191.600 |
|
|
|
|
|
|
|
|
|
Total Sales |
|
582.115 |
637.266 |
638.667 |
638.667 |
638.667 |
|
|
|
|
|
|
|
|
|
Other Income |
|
1.800 |
1.800 |
2.000 |
2.200 |
2.400 |
|
|
|
|
|
|
|
|
|
TOTAL INCOME |
|
583.915 |
639.066 |
640.667 |
640.867 |
641.067 |
|
|
|
|
|
|
|
|
|
COST OF PRODUCTION |
|
|
|
|
|
|
|
Raw Materials Consumed |
VII |
492.345 |
519.698 |
519.698 |
519.698 |
519.698 |
|
Packing Material Consumed |
VIII |
7.862 |
8.618 |
8.618 |
8.618 |
8.618 |
|
Power and Fuel Cost |
IX |
22.292 |
23.425 |
23.425 |
23.425 |
23.425 |
|
Salary and Wages |
X |
3.818 |
3.975 |
4.147 |
4.337 |
4.337 |
|
Other Manufacturing Expenses |
XII |
20.250 |
20.403 |
20.428 |
20.428 |
20.428 |
|
Depreciation |
XIII |
3.989 |
4.064 |
4.064 |
4.064 |
4.064 |
|
Total Cost of Production |
|
550.557 |
580.182 |
580.380 |
580.570 |
580.570 |
|
|
|
|
|
|
|
|
|
Add: Opening Stock of SIP |
|
1.426 |
1.440 |
1.520 |
1.520 |
1.521 |
|
|
|
|
|
|
|
|
|
Less: Closing Stock of SIP |
|
1.440 |
1.520 |
1.520 |
1.521 |
1.521 |
|
|
|
|
|
|
|
|
|
Add: Opening Stock of Finished Goods |
|
21.688 |
22.940 |
24.174 |
24.183 |
24.190 |
|
|
|
|
|
|
|
|
|
Less: Closing Stock of Finished Goods |
|
22.940 |
24.174 |
24.183 |
24.190 |
24.190 |
|
|
|
|
|
|
|
|
|
Cost of Sales |
|
549.291 |
578.868 |
580.372 |
580.562 |
580.570 |
|
|
|
|
|
|
|
|
|
Administrative and Selling Expenses |
|
7.276 |
7.349 |
7.423 |
7.497 |
7.572 |
|
|
|
|
|
|
|
|
|
Sub-Total |
|
556.567 |
586.218 |
587.794 |
588.059 |
588.142 |
|
(adding Administrative and Selling expense to cost of sales) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Profit before Interest |
|
27.348 |
52.848 |
52.872 |
52.808 |
52.925 |
|
|
|
|
|
|
|
|
|
INTEREST ON |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term Loan |
XVI |
1.107 |
0.533 |
0.393 |
0.236 |
0.079 |
|
|
|
|
|
|
|
|
|
Working Capital Limit |
XVII |
8.050 |
8.050 |
8.050 |
8.050 |
8.050 |
|
|
|
|
|
|
|
|
|
Unsecured Loan |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Operating Profit after Interest |
|
18.191 |
44.265 |
44.429 |
44.522 |
44.796 |
|
|
|
|
|
|
|
|
|
Preliminary and Preoperative Expenses |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Profit before Tax |
|
18.191 |
44.265 |
44.429 |
44.522 |
44.796 |
|
|
|
|
|
|
|
|
|
Provision for Income Tax |
XVIII |
6.003 |
14.607 |
14.662 |
14.692 |
14.783 |
|
|
|
|
|
|
|
|
|
Profit after Tax |
|
12.188 |
29.657 |
29.767 |
29.830 |
30.013 |
|
|
|
|
|
|
|
|
|
Less: Dividend |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Retained Profit |
|
12.188 |
29.657 |
29.767 |
29.830 |
30.013 |
|
|
|
|
|
|
|
|
|
Add: Depreciation |
|
3.989 |
4.064 |
4.064 |
4.064 |
4.064 |
|
|
|
|
|
|
|
|
|
Net Cash Accrual |
|
16.177 |
33.721 |
33.831 |
33.894 |
34.077 |
|
|
|
|
|
|
|
|
|
Raw Materials Consumed |
|
84.58% |
81.55% |
81.37% |
81.37% |
81.37% |
|
Packing Material Consumed |
|
1.35% |
1.35% |
1.35% |
1.35% |
1.35% |
|
Power and Fuel Cost |
|
3.83% |
3.68% |
3.67% |
3.67% |
3.67% |
|
Salary and Wages |
|
0.66% |
0.62% |
0.65% |
0.68% |
0.68% |
|
Other Manufacturing Expenses |
|
3.48% |
3.20% |
3.20% |
3.20% |
3.20% |
|
Administrative and Selling Expenses |
|
0.69% |
0.64% |
0.64% |
0.64% |
0.64% |
------------------------------------------------------------------------------------------------------------------------------
BREAK EVEN ANALYSIS
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
2014-2015 |
2015-2016 |
2016-2017 |
2017-2018 |
|
|
|
Projected |
Projected |
Projected |
Projected |
|
|
|
|
|
|
|
|
A) |
Sales value of Production |
605.053 |
638.667 |
638.667 |
638.667 |
|
|
|
|
|
|
|
|
B) |
Variable Cost |
|
|
|
|
|
|
Raw Materials |
505.325 |
492.345 |
519.698 |
519.698 |
|
|
Consumables |
7.500 |
7.862 |
8.618 |
8.618 |
|
|
Power and Fuel Expenses |
13.533 |
22.292 |
23.425 |
23.425 |
|
|
Salaries and Wages |
2.631 |
3.818 |
3.975 |
4.147 |
|
|
40% Selling and Administration |
1.560 |
2.911 |
2.940 |
2.969 |
|
|
Other Manufacturing Expenses |
25.426 |
20.250 |
20.403 |
20.428 |
|
|
Working Capital Interest |
2.826 |
8.050 |
8.050 |
8.050 |
|
|
Total (A) |
558.801 |
557.529 |
587.108 |
587.336 |
|
|
|
|
|
|
|
|
C) |
Fixed and Semi-Variable Cost |
|
|
|
|
|
|
60% Selling and Administration |
2.340 |
4.366 |
4.410 |
4.454 |
|
|
Interest on Term Loans |
1.313 |
1.107 |
0.533 |
0.393 |
|
|
Depreciation |
3.801 |
3.989 |
4.064 |
4.064 |
|
|
Interest on Unsecured Loan |
0.514 |
0.000 |
0.000 |
0.000 |
|
|
Total (B) |
7.968 |
9.462 |
9.007 |
8.911 |
|
|
|
|
|
|
|
|
|
Contribution (A-B) |
46.252 |
81.138 |
51.558 |
51.331 |
|
|
|
|
|
|
|
|
D) |
Break-Even-Sales |
|
|
|
|
|
|
Gross |
104.236 |
74.478 |
111.570 |
110.867 |
|
|
|
|
|
|
|
|
|
Cash |
54.512 |
43.077 |
61.230 |
60.305 |
|
|
|
|
|
|
|
|
E) |
Break-Even-Point |
|
|
|
|
|
|
Gross |
17.23% |
11.66% |
17.47% |
17.36% |
|
|
|
|
|
|
|
|
|
Cash |
9.01% |
6.74% |
9.59% |
9.44% |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED
CASH FLOW STATEMENT
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
2014-2015 |
2015-2016 |
2016-2017 |
2017-2018 |
2018-2019 |
|
|
|
Projected |
Projected |
Projected |
Projected |
Projected |
|
A) |
SOURCES |
|
|
|
|
|
|
(i) |
PAT with interest added back |
21.345 |
38.241 |
38.211 |
38.116 |
38.142 |
|
|
|
|
|
|
|
|
|
(ii) |
Equity Share Capital |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(iii) |
Share Premium |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(iv) |
Depreciation |
3.989 |
4.064 |
4.064 |
4.064 |
4.064 |
|
|
|
|
|
|
|
|
|
(v) |
Term Loan-I |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(vi) |
Term Loan-II |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(vii) |
Unsecured Loan |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(viii) |
Cash Credit |
24.903 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(ix) |
Deferred Tax Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(x) |
Sundry Creditors for Goods |
(0.052) |
0.170 |
(0.013) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(xi) |
Maturities due within one year |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(xii) |
Interest accrued and due on Borrowing |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(xiii) |
Advances from Customers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(xiv) |
Liabilities for Expenses |
0.125 |
0.125 |
0.125 |
0.125 |
0.125 |
|
|
|
|
|
|
|
|
|
(xv) |
Provisions for Taxation |
3.398 |
8.604 |
0.054 |
0.031 |
0.090 |
|
|
|
|
|
|
|
|
|
(xvi) |
Other Current Liabilities |
0.005 |
0.005 |
0.005 |
0.005 |
0.005 |
|
|
|
|
|
|
|
|
|
|
Total |
53.713 |
51.209 |
42.445 |
42.340 |
42.426 |
|
|
|
|
|
|
|
|
|
B) |
APPLICATION |
|
|
|
|
|
|
(i) |
Fixed Assets (Gross Block) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(ii) |
Capital Work in Progress |
12.500 |
11.000 |
15.800 |
16.000 |
16.600 |
|
|
|
|
|
|
|
|
|
(iii) |
Intangible Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(iv) |
Increase or/ (Decrease) in Receivables |
1.655 |
1.354 |
0.058 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(v) |
Increases or/ (Decreases) in Stock |
|
|
|
|
|
|
|
Raw Material |
22.307 |
2.621 |
0.000 |
0.000 |
0.000 |
|
|
Packing Materials |
0.015 |
0.076 |
0.000 |
0.000 |
0.000 |
|
|
Stores and Spares |
0.025 |
0.025 |
0.025 |
0.025 |
0.000 |
|
|
Work in Progress |
0.014 |
0.080 |
0.000 |
0.001 |
0.000 |
|
|
Finished Goods |
1.252 |
1.234 |
0.008 |
0.008 |
0.000 |
|
|
|
|
|
|
|
|
|
(vi) |
Interest on Term Loan |
1.107 |
0.533 |
0.393 |
0.236 |
0.079 |
|
|
|
|
|
|
|
|
|
(vii) |
Repayment of Term Loan-I |
10.477 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(viii) |
Repayment of Term Loan-II |
0.179 |
1.072 |
1.368 |
1.368 |
1.367 |
|
|
|
|
|
|
|
|
|
(ix) |
Interest on Working Capital Limits |
8.050 |
8.050 |
8.050 |
8.050 |
8.050 |
|
|
|
|
|
|
|
|
|
(x) |
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(xi) |
Advances to Suppliers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(xii) |
Loans and Advance |
0.500 |
0.500 |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
|
|
|
(xiii) |
Advance Tax Paid |
3.398 |
8.604 |
0.054 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(xiv) |
Fixed Deposit |
(7.000) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(xv) |
Security Deposit |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(xvi) |
Other Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(xvii) |
Cash for Future Expansion |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Total |
54.479 |
35.150 |
26.257 |
26.187 |
26.596 |
|
|
|
|
|
|
|
|
|
C) |
Cash Surplus/(loss) |
(0.766) |
16.060 |
16.188 |
16.153 |
15.830 |
|
|
|
|
|
|
|
|
|
D) |
Opening Cash Balance |
3.180 |
2.414 |
18.474 |
34.661 |
50.814 |
|
|
|
|
|
|
|
|
|
E) |
Closing Cash Balance |
2.414 |
18.474 |
34.661 |
50.814 |
66.645 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING
CAPITAL REQUIREMENTS
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
SR. NO. |
|
PARTICULARS |
March
15 Projected |
March
16 Projected |
March
17 Projected |
March
18 Projected |
March
19 Projected |
|
|
|
|
|
|
|
|
|
|
1. |
|
GROSS SALES |
|
|
|
|
|
|
|
|
Capacity Utilisation |
90% |
95% |
95% |
95% |
95% |
|
|
|
Sale Value of production |
585.181 |
640.380 |
640.675 |
640.875 |
641.067 |
|
|
i. |
Domestic Sales |
407.480 |
446.086 |
447.067 |
447.067 |
447.067 |
|
|
ii. |
Export Sales |
174.634 |
191.180 |
191.600 |
191.600 |
191.600 |
|
|
iii. |
Trading Sales |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
iv. |
Other Business Receipts |
1.800 |
1.800 |
2.000 |
2.200 |
2.400 |
|
|
|
|
|
|
|
|
|
|
|
|
Total |
583.915 |
639.066 |
640.667 |
640.867 |
641.067 |
|
|
|
|
|
|
|
|
|
|
2. |
|
Less Excise Duty |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
3. |
|
Net Sales (1 -
2) |
583.915 |
639.066 |
640.667 |
640.867 |
641.067 |
|
|
|
|
|
|
|
|
|
|
4. |
|
% age rise (+) or fall (-) in net sales as compared to previous year (annualised) |
3.49% |
9.45% |
0.25% |
0.03% |
0.03% |
|
|
|
|
|
|
|
|
|
|
5. |
|
COST OF SALES |
|
|
|
|
|
|
|
i. |
Raw materials (including stores and other items used in the process of
manufacture) |
492.345 |
519.698 |
519.698 |
519.698 |
519.698 |
|
|
|
a. Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
b. Indigenous |
492.345 |
519.698 |
519.698 |
519.698 |
519.698 |
|
|
|
|
|
|
|
|
|
|
|
ii. |
Other Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
a. Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
b. Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
iii. |
Purchases for trading |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
iv. |
Power and Fuel |
22.292 |
23.425 |
23.425 |
23.425 |
23.425 |
|
|
|
|
|
|
|
|
|
|
|
v. |
Direct Labour (Factory wages) |
3.818 |
3.975 |
4.147 |
4.337 |
4.337 |
|
|
|
|
|
|
|
|
|
|
|
vi. |
Packing Costs |
7.862 |
8.618 |
8.618 |
8.618 |
8.618 |
|
|
|
|
|
|
|
|
|
|
|
vii. |
Other manufacturing expenses |
20.250 |
20.403 |
20.428 |
20.428 |
20.428 |
|
|
|
|
|
|
|
|
|
|
|
viii. |
Depreciation |
3.989 |
4.064 |
4.064 |
4.064 |
4.064 |
|
|
|
|
|
|
|
|
|
|
|
ix. |
Sub-total (i to viii) |
550.557 |
580.182 |
580.380 |
580.570 |
580.570 |
|
|
|
|
|
|
|
|
|
|
|
x. |
Add: Opening Stock-in-process |
1.426 |
1.440 |
1.520 |
1.520 |
1.521 |
|
|
|
|
|
|
|
|
|
|
|
|
Sub-total (ix + x) |
551.983 |
581.623 |
581.900 |
582.090 |
582.091 |
|
|
|
|
|
|
|
|
|
|
|
xi. |
Deduct: Closing Stock-in-process |
1.440 |
1.520 |
1.520 |
1.521 |
1.521 |
|
|
|
|
|
|
|
|
|
|
|
xii. |
Cost of
Production |
550.543 |
580.103 |
580.380 |
580.570 |
580.570 |
|
|
|
|
|
|
|
|
|
|
|
xiii. |
Add: Opening Stock of FG |
21.688 |
22.940 |
24.174 |
24.183 |
24.190 |
|
|
|
|
|
|
|
|
|
|
|
|
Sub-total (xii + xiii) |
572.231 |
603.043 |
604.554 |
604.752 |
604.761 |
|
|
|
|
|
|
|
|
|
|
|
xiv. |
Deduct: Closing Stock of FG |
22.940 |
24.174 |
24.183 |
24.190 |
24.190 |
|
|
|
|
|
|
|
|
|
|
|
xv. |
Sub-total (Total Cost of Sales) |
549.291 |
578.868 |
580.372 |
580.562 |
580.570 |
|
|
|
|
|
|
|
|
|
|
6. |
|
Selling, general and administrative expenses |
7.276 |
7.349 |
7.423 |
7.497 |
7.572 |
|
|
|
|
|
|
|
|
|
|
7. |
|
Sub-total (5 +
6) |
556.568 |
586.218 |
587.794 |
588.059 |
588.142 |
|
|
|
|
|
|
|
|
|
|
8. |
|
Operating Profit before Interest (3 - 7) |
27.347 |
52.848 |
52.872 |
52.808 |
52.925 |
|
|
|
Interest on Term Loan @ 11.50% |
1.107 |
0.533 |
0.393 |
0.236 |
0.079 |
|
|
|
Interest on working capital |
8.050 |
8.050 |
8.050 |
8.050 |
8.050 |
|
|
|
Interest on other loans |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
Amount of TL intt. capitalised |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
9. |
|
Total Interest |
9.157 |
8.583 |
8.443 |
8.286 |
8.129 |
|
|
|
|
|
|
|
|
|
|
10. |
|
Operating Profit after Interest (8 - 9) |
18.191 |
44.265 |
44.429 |
44.522 |
44.796 |
|
|
|
|
|
|
|
|
|
|
11. |
i. |
Add: Other non-operating Income |
-- |
-- |
-- |
-- |
-- |
|
|
a. |
Other Income |
-- |
-- |
-- |
-- |
-- |
|
|
b. |
|
-- |
-- |
-- |
-- |
-- |
|
|
c. |
|
-- |
-- |
-- |
-- |
-- |
|
|
d. |
|
-- |
-- |
-- |
-- |
-- |
|
|
|
Sub-total (Income) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
ii. |
Deduct: Other non-operating expenses |
-- |
-- |
-- |
-- |
-- |
|
|
a. |
Prelim/Pre-op expenses written-off |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
b. |
|
-- |
-- |
-- |
-- |
-- |
|
|
c. |
|
-- |
-- |
-- |
-- |
-- |
|
|
d. |
|
-- |
-- |
-- |
-- |
-- |
|
|
|
Sub-total (Expenses) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
iii. |
Net of other non-operating income /expenses [net of 11(i) and 11(ii)] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
12. |
|
Profit before tax/loss [10 + 11(iii)] |
18.191 |
44.265 |
44.429 |
44.522 |
44.796 |
|
|
|
|
|
|
|
|
|
|
13. |
a. |
Provision for taxes : Current tax |
6.003 |
14.607 |
14.662 |
14.692 |
14.783 |
|
|
b. |
Fringe Benefit Tax |
-- |
-- |
-- |
-- |
-- |
|
|
c. |
Deferred tax |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
14. |
|
Net Profit/Loss for the yr.(12 -13a) |
12.188 |
29.657 |
29.767 |
29.830 |
30.013 |
|
|
|
|
|
|
|
|
|
|
|
|
Net Profit/ Loss (after deferred tax) |
12.188 |
29.657 |
29.767 |
29.830 |
30.013 |
|
|
|
|
|
|
|
|
|
|
15. |
a. |
Dividend paid/Drawings |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
b. |
Dividend Rate (% age) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
|
16. |
|
Retained Profit (14 - 15) |
12.188 |
29.657 |
29.767 |
29.830 |
30.013 |
|
|
|
|
|
|
|
|
|
|
17. |
|
Retained Profit / Net Profit (% age) |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
SR. NO. |
|
PARTICULARS |
March
15 Projected |
March
16 Projected |
March
17 Projected |
March
18 Projected |
March
19 Projected |
|
|
|
|
|
|
|
|
|
|
1. |
|
Short-term borrowing from banks (including bills purchased, discounted
and excess borrowing placed on repayment basis) |
|
|
|
|
|
|
|
i. |
From applicant bank |
70.000 |
70.000 |
70.000 |
70.000 |
70.000 |
|
|
ii. |
From other banks |
-- |
-- |
-- |
-- |
-- |
|
|
iii. |
(of which BP and BD) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
|
Sub-total [i +
ii] (A) |
70.000 |
70.000 |
70.000 |
70.000 |
70.000 |
|
|
|
|
|
|
|
|
|
|
2. |
|
Short term borrowings from others |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
3. |
|
Sundry Creditors (Trade) |
2.483 |
2.654 |
2.640 |
2.640 |
2.640 |
|
|
|
|
|
|
|
|
|
|
4. |
|
Advance payments from customers / deposits from dealers |
0.095 |
0.095 |
0.095 |
0.095 |
0.095 |
|
|
|
|
|
|
|
|
|
|
5. |
|
Provision for taxation |
3.816 |
12.420 |
12.475 |
12.505 |
12.596 |
|
|
|
|
|
|
|
|
|
|
6. |
|
Dividend payable |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
7. |
|
Other statutory liabilities (due within 1 year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
8A. |
|
Installments of proposed term loan due within 1 year |
1.072 |
1.368 |
1.368 |
1.367 |
0.000 |
|
|
|
|
|
|
|
|
|
|
8B. |
|
Deposits / installments of exist. term loans / DPGs / debentures etc.
(due within 1 year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
9. |
|
Other current liabilities and provisions (due within 1 year) - specify major items) |
3.198 |
3.328 |
3.458 |
3.588 |
3.718 |
|
|
|
|
|
|
|
|
|
|
|
a. |
Interest accrued and due on Borrowing |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
b. |
Liabilities for Expenses |
1.778 |
1.903 |
2.028 |
2.153 |
2.278 |
|
|
c. |
Other Provisions |
1.420 |
1.425 |
1.430 |
1.435 |
1.440 |
|
|
d. |
|
-- |
-- |
-- |
-- |
-- |
|
|
|
Subtotal [2 to 9] (B) |
10.665 |
19.865 |
20.036 |
20.196 |
19.049 |
|
|
|
|
|
|
|
|
|
|
10. |
|
Total Current Liabilities [A + B] |
80.665 |
89.865 |
90.036 |
90.196 |
89.049 |
|
|
|
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
||
|
11. |
|
Debentures (not maturing within 1 year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
12. |
|
Preference Shares (redeemable after 1 year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
13A. |
|
Proposed Term loan excluding installments < 1 year |
4.103 |
2.735 |
1.367 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
13B. |
|
Existing Term loans (excluding installments payable within 1 year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
14. |
|
Deferred Payment Credits (excluding installments due within 1 year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
15. |
|
Unsecured loan (director's own sources) |
2.200 |
2.200 |
2.200 |
2.200 |
2.200 |
|
|
|
|
|
|
|
|
|
|
16. |
|
Other term liabilities |
4.962 |
4.962 |
4.962 |
4.962 |
4.962 |
|
|
|
|
|
|
|
|
|
|
17. |
|
Total Term Liabilities [11 to 16] |
11.265 |
9.897 |
8.529 |
7.162 |
7.162 |
|
|
|
|
|
|
|
|
|
|
18. |
|
Total Outside Liabilities [10 + 17] |
91.929 |
99.762 |
98.564 |
97.357 |
96.211 |
|
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
||
|
19. |
|
Ordinary Share Capital / Prop.'s/Partners' capital |
7.958 |
7.958 |
7.958 |
7.958 |
7.958 |
|
|
|
|
|
|
|
|
|
|
20. |
|
General Reserve |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
21. |
|
Revaluation Reserve |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
22. |
|
Capital Subsidy |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
23. |
|
Surplus (+) or deficit (-) in Profit and Loss a/c |
28.111 |
57.770 |
87.537 |
117.367 |
147.380 |
|
|
|
|
|
|
|
|
|
|
23. |
a. |
Share Premium |
88.514 |
88.514 |
88.514 |
88.514 |
88.514 |
|
|
b. |
|
-- |
-- |
-- |
-- |
-- |
|
|
c. |
|
-- |
-- |
-- |
-- |
-- |
|
|
d. |
|
-- |
-- |
-- |
-- |
-- |
|
|
e. |
|
-- |
-- |
-- |
-- |
-- |
|
24. |
|
Net Worth |
124.582 |
154.241 |
184.008 |
213.838 |
243.851 |
|
|
|
|
|
|
|
|
|
|
25. |
|
TOTAL LIABILITIES [18 + 24] |
216.511 |
254.002 |
282.572 |
311.195 |
340.062 |
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
||
|
26. |
|
Cash and Bank Balances |
3.357 |
18.475 |
34.662 |
50.815 |
66.646 |
|
|
|
|
|
|
|
|
|
|
27. |
|
Investments (other than long term) |
|
|
|
|
|
|
|
i. |
Govt. and other trustee securities |
-- |
-- |
-- |
-- |
-- |
|
|
ii. |
Fixed Deposits with banks |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
28. |
i. |
Receivables (upto six months) other than deferred and exports
(including bills purchased and discounted by banks) |
24.255 |
25.609 |
25.667 |
25.667 |
25.667 |
|
|
|
|
|
|
|
|
|
|
|
ii. |
Export receivables (including bills purchased/discounted by banks) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
29. |
|
Installments of deferred receivables (< 1 year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
30. |
|
Inventory: |
73.049 |
77.084 |
77.118 |
77.151 |
77.151 |
|
|
i. |
Raw materials (including stores) |
47.183 |
49.804 |
49.804 |
49.804 |
49.804 |
|
|
|
a. Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
b. Indigenous |
47.183 |
49.804 |
49.804 |
49.804 |
49.804 |
|
|
|
|
|
|
|
|
|
|
|
ii. |
Stocks-in-process |
1.440 |
1.520 |
1.520 |
1.521 |
1.521 |
|
|
|
|
|
|
|
|
|
|
|
iii. |
Finished goods |
22.940 |
24.174 |
24.183 |
24.190 |
24.190 |
|
|
|
|
|
|
|
|
|
|
|
iv. |
Other consumable spares |
1.485 |
1.586 |
1.611 |
1.636 |
1.636 |
|
|
|
a. Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
b. Indigenous |
1.485 |
1.586 |
1.611 |
1.636 |
1.636 |
|
|
|
|
|
|
|
|
|
|
31. |
|
Advances to suppliers of raw materials |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
32. |
|
Advance payment of taxes |
4.995 |
13.600 |
13.654 |
13.654 |
13.654 |
|
|
|
|
|
|
|
|
|
|
33. |
|
Other current assets (specify major items) |
7.654 |
8.154 |
8.654 |
9.154 |
9.654 |
|
|
a. |
Loans and Advances |
7.654 |
8.154 |
8.654 |
9.154 |
9.654 |
|
|
b. |
Other Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
c. |
|
-- |
-- |
-- |
-- |
-- |
|
|
d. |
|
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
34. |
|
Total Current Assets (26 to 33) |
113.310 |
142.921 |
159.755 |
176.441 |
192.772 |
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
||
|
35A |
|
Gross Block (land, building, plant and machinery) |
85.338 |
85.338 |
85.338 |
85.338 |
85.338 |
|
|
|
|
|
|
|
|
|
|
35B |
|
Capital work-in-progress |
20.372 |
31.372 |
47.172 |
63.172 |
79.772 |
|
|
|
|
|
|
|
|
|
|
21. |
|
Revaluation Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
36. |
|
Depreciation to date |
13.112 |
17.176 |
21.240 |
25.304 |
29.367 |
|
|
|
|
|
|
|
|
|
|
37. |
|
Net Block (35A + 35B - 21 - 36) |
92.598 |
99.534 |
111.270 |
123.207 |
135.743 |
|
|
|
|
|
|
|
|
|
|
OTHER
NON-CURRENT ASSETS |
|
|
|
|
|
||
|
38. |
|
Investments/ book debts/ advances/ deposits which are not current
assets |
10.604 |
10.604 |
10.604 |
10.604 |
10.604 |
|
|
|
|
|
|
|
|
|
|
|
i. |
a. Investments in subsidiary / affiliates |
-- |
-- |
-- |
-- |
-- |
|
|
|
b. Investment in Others |
0.155 |
0.155 |
0.155 |
0.155 |
0.155 |
|
|
|
|
|
|
|
|
|
|
|
ii. |
Advances to suppliers of capital goods |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
iii. |
Deferred receivables (maturity > 1 year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
iv. |
Others |
10.449 |
10.449 |
10.449 |
10.449 |
10.449 |
|
|
|
a. Security deposits |
0.091 |
0.091 |
0.091 |
0.091 |
0.091 |
|
|
|
b. Fixed Deposit |
10.358 |
10.358 |
10.358 |
10.358 |
10.358 |
|
|
|
c. |
-- |
-- |
-- |
-- |
-- |
|
|
|
d. |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
39. |
|
Non-consumable stocks, stores and spares |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
40. |
|
Other non-current assets including dues from directors |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
41. |
|
Total Other Non-current Assets (38 to 40) |
10.604 |
10.604 |
10.604 |
10.604 |
10.604 |
|
|
|
|
|
|
|
|
|
|
42. |
|
Intangible Assets (patents, good will, etc.) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
43. |
|
Total Assets (34+37+41+42) |
216.511 |
253.059 |
281.629 |
310.251 |
339.118 |
|
|
|
|
|
|
|
|
|
|
44. |
|
Tangible Net Worth (24 - 42) |
124.582 |
154.241 |
184.008 |
213.838 |
243.851 |
|
|
|
|
|
|
|
|
|
|
45. |
|
Net Working Capital (34 - 10) |
32.645 |
53.056 |
69.719 |
86.246 |
103.723 |
|
|
|
|
|
|
|
|
|
|
46. |
|
Current Ratio (34 / 10) |
1.40 |
1.59 |
1.77 |
1.96 |
2.16 |
|
|
|
|
|
|
|
|
|
|
47. |
|
Total Outside Liabilities / Tangible Net Worth |
0.74 |
0.65 |
0.54 |
0.46 |
0.39 |
|
|
|
|
|
|
|
|
|
|
48. |
|
Total Term Liabilities / Tangible Net Worth (17 / 44) |
0.09 |
0.06 |
0.05 |
0.03 |
0.03 |
|
|
|
|
|
|
|
|
|
|
ADDITIONAL
INFORMATION |
|
|
|
|
|
||
|
A. |
|
Arrears of depreciation |
NA |
NA |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
B. |
|
Contingent Liabilities: |
|
|
|
|
|
|
|
i. |
Arrears of cumulative dividends |
NA |
NA |
NA |
NA |
NA |
|
|
ii. |
Gratuity liability not provided for |
NA |
NA |
NA |
NA |
NA |
|
|
iii. |
Disputed excise / customs / tax liabilities |
NA |
NA |
NA |
NA |
NA |
|
|
iv. |
Other liabilities not provided for |
NA |
NA |
NA |
NA |
NA |
------------------------------------------------------------------------------------------------------------------------------
FUND
FLOW STATEMENT
(RS. IN MILLIONS)
|
SR. NO. |
|
PARTICULARS |
March
15 Projected |
March
16 Projected |
March
17 Projected |
March
18 Projected |
March
19 Projected |
|
|
|
|
|
|
|
|
|
|
1. |
SOURCES |
|
|
|
|
|
|
|
a. |
|
Net Profit (after deferred tax) |
12.188 |
29.657 |
29.767 |
29.830 |
30.013 |
|
b. |
|
Depreciation |
2.678 |
4.064 |
4.064 |
4.064 |
4.064 |
|
c. |
|
Increase in share capital/ application/ premium |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
d. |
|
Increase in Term Liabilities (including Public Deposits) |
6.303 |
-- |
-- |
-- |
-- |
|
e. |
|
Decrease in |
|
|
|
|
|
|
|
i. |
Fixed Assets & Capital WIP |
-- |
-- |
-- |
-- |
-- |
|
|
ii. |
Other non-current Assets |
6.909 |
-- |
-- |
-- |
-- |
|
f. |
|
Increase/(Decrease) in deferred tax liability/(asset) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
g. |
|
Others |
3.862 |
0.001 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
h. |
|
TOTAL |
31.939 |
33.722 |
33.831 |
33.894 |
34.077 |
|
|
|
|
|
|
|
|
|
|
2. |
USES |
|
|
|
|
|
|
|
a. |
|
Net loss |
-- |
-- |
-- |
-- |
-- |
|
b. |
|
Decrease in Term Liabilities (including Public Deposits) |
-- |
1.368 |
1.368 |
1.367 |
0.000 |
|
|
|
|
|
|
|
|
|
|
c. |
|
Increase in |
|
|
|
|
|
|
|
i. |
Fixed Assets & Capital WIP |
12.400 |
11.000 |
15.800 |
16.000 |
16.600 |
|
|
ii. |
Other non-current Assets |
-- |
0.000 |
0.000 |
0.000 |
0.000 |
|
d. |
|
Dividend Payments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
e. |
|
Increase/(Decrease) in deferred tax asset/(liability) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
f. |
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
g. |
|
TOTAL |
12.400 |
12.368 |
17.167 |
17.367 |
16.600 |
|
|
|
|
|
|
|
|
|
|
3. |
|
Long Term Surplus (+) / Deficit (-) [1-2] |
19.540 |
21.353 |
16.664 |
16.527 |
17.477 |
|
|
|
|
|
|
|
|
|
|
4. |
|
Increase/(Decrease) in current assets |
32.332 |
29.611 |
16.834 |
16.686 |
16.330 |
|
|
|
|
|
|
|
|
|
|
5. |
|
Increase/(Decrease) in current liabilities other than bank borrowings |
(12.061) |
9.200 |
0.171 |
0.160 |
(1.147) |
|
|
|
|
|
|
|
|
|
|
6. |
|
Increase/(Decrease) in working capital gap |
44.394 |
20.411 |
16.663 |
16.527 |
17.477 |
|
|
|
|
|
|
|
|
|
|
7. |
|
Net Surplus / Deficit (-) [3-6] |
(24.854) |
0.943 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
8. |
|
Increase/(Decrease) in bank borrowings |
24.903 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
9. |
|
Increase/decrease in NET SALES |
19.697 |
55.151 |
1.601 |
0.200 |
0.200 |
|
|
|
|
|
|
|
|
|
|
|
|
* Break up of
item-4 |
|
|
|
|
|
|
|
i. |
Increase/(Decrease) in Raw Materials |
22.307 |
2.621 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
ii. |
Increase/(Decrease) in Stocks-in-Process |
0.014 |
0.080 |
0.000 |
0.001 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
iii. |
Increase/(Decrease) in Finished Goods |
1.252 |
1.234 |
0.008 |
0.008 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
iv. |
Increase/(Decrease) in Receivables |
|
|
|
|
|
|
|
a) |
Domestic |
(0.053) |
1.354 |
0.058 |
0.000 |
0.000 |
|
|
b) |
Export |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
v. |
Increase/(Decrease) in Stores & Spares |
(0.010) |
0.101 |
0.025 |
0.025 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
vi. |
Increase/(Decrease) in other current assets |
8.823 |
24.222 |
16.742 |
16.653 |
16.330 |
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
32.332 |
29.611 |
16.834 |
16.686 |
16.330 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES
(RS. IN MILLIONS)
|
SR. NO. |
|
PARTICULARS |
March
15 Projected |
March
16 Projected |
March
17 Projected |
March
18 Projected |
March
19 Projected |
|
|
|
|
|
|
|
|
|
|
A. |
CURRENT ASSETS |
|
|
|
|
|
|
|
1. |
|
Raw materials (incl. stores and other items used in the process of
manufacture) |
|
|
|
|
|
|
|
a. |
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
Month's Consumption |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
b. |
Indigenous |
47.183 |
49.804 |
49.804 |
49.804 |
49.804 |
|
|
|
Month's Consumption |
[1.15] |
[1.15] |
[1.15] |
[1.15] |
[1.15] |
|
|
|
|
|
|
|
|
|
|
2. |
|
Other Consumable spares, excluding those included in 1 above |
|
|
|
|
|
|
|
a. |
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
Month's Consumption |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
b. |
Indigenous |
1.485 |
1.586 |
1.611 |
1.636 |
1.636 |
|
|
|
Month's Consumption |
[2.27] |
[2.21] |
[2.24] |
[2.28] |
[2.28] |
|
|
|
|
|
|
|
|
|
|
3. |
|
Stock-in-process |
1.440 |
1.520 |
1.520 |
1.521 |
1.521 |
|
|
|
Month's cost of production |
[0.03] |
[0.03] |
[0.03] |
[0.03] |
[0.03] |
|
|
|
|
|
|
|
|
|
|
4. |
|
Finished goods |
22.940 |
24.174 |
24.183 |
24.190 |
24.190 |
|
|
|
Month's cost of sales |
[0.50] |
[0.50] |
[0.50] |
[0.50] |
[0.50] |
|
|
|
|
|
|
|
|
|
|
5. |
|
Receivables other than export and deferred receivables (incl. bills
purchased and discounted by bankers) |
24.255 |
25.609 |
25.667 |
25.667 |
25.667 |
|
|
|
Month's domestic sales: excluding deferred payment sales |
[0.50] |
[0.48] |
[0.48] |
[0.48] |
[0.48] |
|
|
|
|
|
|
|
|
|
|
6. |
|
Export receivables (incl. bills purchased and discounted) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
Month's export sales |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
7. |
|
Advances to suppliers of raw materials and stores / spares,
consumables |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
8. |
|
Other current assets incl. cash and bank balances and deferred
receivables due within one year |
16.007 |
40.228 |
56.970 |
73.623 |
89.953 |
|
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balances |
3.357 |
18.475 |
34.662 |
50.815 |
66.646 |
|
|
|
|
|
|
|
|
|
|
|
|
Investments (other than long term): |
|
|
|
|
|
|
|
|
i. Government and other trustee securities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
ii. Fixed Deposits with banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
|
Installments of deferred receivables (due within 1 year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
|
Advance payment of taxes |
4.995 |
13.600 |
13.654 |
13.654 |
13.654 |
|
|
|
|
|
|
|
|
|
|
|
|
Other current assets |
7.654 |
8.154 |
8.654 |
9.154 |
9.654 |
|
|
|
|
|
|
|
|
|
|
.9. |
|
Total Current Assets |
113.310 |
142.921 |
159.755 |
176.441 |
192.772 |
|
|
|
(To agree with item 34 in Form III) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B. |
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
|
(Other than bank borrowings for working
capital) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10. |
|
Creditors for purchase of raw materials, stores, consumable spares and
for trading |
2.483 |
2.654 |
2.640 |
2.640 |
2.640 |
|
|
|
Month's purchases |
[0.06] |
[0.06] |
[0.06] |
[0.06] |
[0.06] |
|
|
|
|
|
|
|
|
|
|
11. |
|
Advances from customers |
0.095 |
0.095 |
0.095 |
0.095 |
0.095 |
|
|
|
|
|
|
|
|
|
|
12. |
|
Statutory liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
13 |
|
Other current liabilities: |
8.086 |
17.116 |
17.301 |
17.460 |
16.314 |
|
|
|
|
|
|
|
|
|
|
|
|
Short term borrowings from others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
|
Provision for taxation |
3.816 |
12.420 |
12.475 |
12.505 |
12.596 |
|
|
|
|
|
|
|
|
|
|
|
|
Dividend payable |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
|
Deposits / installments of term loans / DPGs / debentures etc. (due
within 1 year) |
1.072 |
1.368 |
1.368 |
1.367 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
|
Other current liabilities and provisions (due within 1 year) |
3.198 |
3.328 |
3.458 |
3.588 |
3.718 |
|
|
|
|
|
|
|
|
|
|
14. |
|
Total (To agree with total B of Form-III) |
10.665 |
19.865 |
20.036 |
20.196 |
19.049 |
|
|
|
|
|
|
|
|
|
|
|
Inventory and
Receivable Levels (months) |
|
|
|
|
|
|
|
|
|
Raw materials (Imported) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
Month's Consumption |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
|
Raw materials (Indigenous) |
47.183 |
49.804 |
49.804 |
49.804 |
49.804 |
|
|
|
Month's Consumption |
1.15 |
1.15 |
1.15 |
1.15 |
1.15 |
|
|
|
|
|
|
|
|
|
|
|
|
Stock-in-process |
1.440 |
1.520 |
1.520 |
1.521 |
1.521 |
|
|
|
Month's cost of production |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
|
|
|
|
|
|
|
|
|
|
|
|
Finished goods |
22.940 |
24.174 |
24.183 |
24.190 |
24.190 |
|
|
|
Month's cost of sales |
0.50 |
0.50 |
0.50 |
0.50 |
0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
Receivables (Inland) |
24.255 |
25.609 |
25.667 |
25.667 |
25.667 |
|
|
|
Month's domestic sales |
0.50 |
0.48 |
0.48 |
0.48 |
0.48 |
|
|
|
|
|
|
|
|
|
|
|
|
Export receivables (incl. bills purchased) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
Month's export sales |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
|
Sundry Creditors for purchases |
2.483 |
2.654 |
2.640 |
2.640 |
2.640 |
|
|
|
Month's purchases |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
March
15 Projected |
March
16 Projected |
March
17 Projected |
March
18 Projected |
March
19 Projected |
|
|
|
|
|
|
|
|
|
First Method of
Lending |
|
|
|
|
|
|
|
1. |
Total Current Assets (Form-IV-9) |
113.310 |
142.921 |
159.755 |
176.441 |
192.772 |
|
|
|
|
|
|
|
|
|
2. |
Other Current Liabilities (other than bank borrowings (Form-IV-14) |
10.665 |
19.865 |
20.036 |
20.196 |
19.049 |
|
|
|
|
|
|
|
|
|
3. |
Working Capital Gap (WCG) (1-2) |
102.645 |
123.056 |
139.719 |
156.246 |
173.723 |
|
|
|
|
|
|
|
|
|
4. |
Min. stipulated net working capital: (25% of WCG excluding export
receivables) |
25.661 |
30.764 |
34.930 |
39.061 |
43.431 |
|
|
|
|
|
|
|
|
|
5. |
Actual / Projected net working capital (Form-III-45) |
32.645 |
53.056 |
69.719 |
86.246 |
103.723 |
|
|
|
|
|
|
|
|
|
6. |
Item-3 minus Item-4 |
76.984 |
92.292 |
104.789 |
117.184 |
130.292 |
|
|
|
|
|
|
|
|
|
7. |
Item-3 minus Item-5 |
70.000 |
70.000 |
70.000 |
70.000 |
70.000 |
|
|
|
|
|
|
|
|
|
8. |
Max. permissible bank finance (item-6 or 7, whichever is lower) |
70.000 |
70.000 |
70.000 |
70.000 |
70.000 |
|
|
|
|
|
|
|
|
|
9. |
Excess borrowings representing shortfall in NWC (4 - 5) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Second Method of
Lending |
|
|
|
|
|
|
|
1. |
Total Current Assets (Form-IV-9) |
113.310 |
142.921 |
159.755 |
176.441 |
192.772 |
|
|
|
|
|
|
|
|
|
2. |
Other Current Liabilities (other than bank borrowings (Form-IV-14) |
10.665 |
19.865 |
20.036 |
20.196 |
19.049 |
|
|
|
|
|
|
|
|
|
3. |
Working Capital Gap (WCG) (1-2) |
102.645 |
123.056 |
139.719 |
156.246 |
173.723 |
|
|
|
|
|
|
|
|
|
4. |
Min. stipulated net working capital:
(25% of total Current Assets excluding export receivables) |
28.327 |
35.730 |
39.939 |
44.110 |
48.193 |
|
|
|
|
|
|
|
|
|
5. |
Actual / Projected net working capital (Form-III-45) |
32.645 |
53.056 |
69.719 |
86.246 |
103.723 |
|
|
|
|
|
|
|
|
|
6. |
Item-3 minus Item-4 |
74.318 |
87.326 |
99.780 |
112.135 |
125.530 |
|
|
|
|
|
|
|
|
|
7. |
Item-3 minus Item-5 |
70.000 |
70.000 |
70.000 |
70.000 |
70.000 |
|
|
|
|
|
|
|
|
|
8. |
Max. permissible bank finance (item-6 or 7, whichever is lower) |
70.000 |
70.000 |
70.000 |
70.000 |
70.000 |
|
|
|
|
|
|
|
|
|
9. |
Excess borrowings representing shortfall in NWC (4 - 5) |
-- |
-- |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
INSTALLED
CAPACITY AND CAPACITY UTILISATION
The capacity of the plant has been worked out on the basis of
uninterrupted production, standard yield and efficiency norms. Plant will run
for 300 days in a year on double shift basis keeping 65 days for maintenance
purpose.
|
No. of Shift |
2 |
Shifts |
|
No. of Working Hours per day |
20 |
Hours |
|
No of Working Days |
300 |
Days |
|
No. of Cleaning and Maintenance Work |
65 |
Days |
|
Installed Capacity |
|
|
|
Hence the Installed Capacity will be as under :- |
|
|
|
Paddy Processing per Hour (7 MT x 20 Hr.) |
7 |
MT |
|
Paddy Processing per Day (140 MT x 300 days) |
140 |
MT |
|
Installed Capacity
per Annum |
42,000 |
MT |
The proposed Paddy Processing Plant will have the standard product mix
as under :
|
PARTICULARS |
Product Mix |
Qty in MTPA |
|
|
|
|
|
Saleable |
|
|
|
A
) Rice |
60.00% |
25,200 MT |
|
B
) Broken Rice |
8.33% |
3,500 MT |
|
C
) Rice Bran |
6.67% |
2,800 MT |
|
|
|
|
|
Non Saleable |
|
|
|
D
) Husk |
20.00% |
8,400 MT |
|
E)
Normal Loss |
5.00% |
2,100 MT |
|
Total |
100.00% |
42,000 MT |
Capacity Utilisation
Based on the above mentioned Installed Capacity and Product Mix, the
capacity utilisation for the project is assumed to be as under:
|
PARTICULARS |
2014-2015 |
2015-2016 |
2016-2017 |
2017-2018 |
2018-2019 |
|
|
Projected |
Projected |
Projected |
Projected |
Projected |
|
|
|
|
|
|
|
|
Capacity Utilisation |
90% |
95% |
95% |
95% |
95% |
|
|
|
|
|
|
|
|
Paddy Processed (MT) |
37,800 |
39,900 |
39,900 |
39,900 |
39,900 |
|
|
|
|
|
|
|
|
Production |
|
|
|
|
|
|
Saleable |
|
|
|
|
|
|
A ) Rice |
22,680 |
23,940 |
23,940 |
23,940 |
23,940 |
|
B ) Broken Rice |
3,150 |
3,325 |
3,325 |
3,325 |
3,325 |
|
C ) Rice Bran |
2,520 |
2,660 |
2,660 |
2,660 |
2,660 |
|
|
|
|
|
|
|
|
Non Saleable |
|
|
|
|
|
|
D ) Husk |
7,560 |
7,980 |
7,980 |
7,980 |
7,980 |
|
E ) Normal Loss |
1,890 |
1,995 |
1,995 |
1,995 |
1,995 |
------------------------------------------------------------------------------------------------------------------------------
INSTALLED
CAPACITY AND CAPACITY UTILISATION
The capacity of the plant has been worked out on the basis of uninterrupted
production, standard yield and efficiency norms. Plant will run for 300 days in
a year on double shift basis keeping 65 days for maintenance purpose.
|
No. of Shift |
2 |
Shifts |
|
No. of Working Hours per day |
20 |
Hours |
|
No of Working Days |
300 |
Days |
|
No. of Cleaning & Maintenance Work |
65 |
Days |
|
Installed Capacity |
|
|
|
Hence the Installed Capacity will be as under :- |
|
|
|
Paddy Processing per Hour |
8 |
MT |
|
Paddy Processing per Day (8 MT x 20 Hr.) |
160 |
MT |
|
Installed Capacity per Annum (160 MT x 300 days) |
48,000 |
MT |
The proposed Paddy Processing Plant will have the standard product mix
as under :
|
PARTICULARS |
Product Mix |
Qty in MTPA |
|
Saleable |
|
|
|
A
) Rice |
60.00% |
28,800 MT |
|
B
) Broken Rice |
8.33% |
4,000 MT |
|
C
) Rice Bran |
6.67% |
3,200 MT |
|
|
|
|
|
Non Saleable |
|
|
|
D
) Husk |
20.00% |
9,600 MT |
|
E)
Normal Loss |
5.00% |
2,400 MT |
|
Total |
100.00% |
48,000 MT |
Capacity Utilisation
Based on the above mentioned Installed Capacity and Product Mix, the
capacity utilisation for the project is assumed to be as under:
|
PARTICULARS |
2016-2017 |
2017-2018 |
2018-2019 |
2019-2020 |
2020-2021 |
2021-2022 |
2022-2023 |
|
|
Projected |
Projected |
Projected |
Projected |
Projected |
Projected |
Projected |
|
|
|
|
|
|
|
|
|
|
Capacity Utilisation |
60% |
65% |
70% |
75% |
80% |
85% |
90% |
|
|
|
|
|
|
|
|
|
|
Paddy Processed (MT) |
28,800 |
31,200 |
33,600 |
36,000 |
38,400 |
40,800 |
43,200 |
|
|
|
|
|
|
|
|
|
|
Production |
|
|
|
|
|
|
|
|
Saleable |
|
|
|
|
|
|
|
|
A ) Rice |
17,280 |
18,720 |
20,160 |
21,600 |
23,040 |
24,480 |
25,920 |
|
B ) Broken Rice |
2,400 |
2,600 |
2,800 |
3,000 |
3,200 |
3,400 |
3,600 |
|
C ) Rice Bran |
1,920 |
2,080 |
2,240 |
2,400 |
2,560 |
2,720 |
2,880 |
|
|
|
|
|
|
|
|
|
|
Non Saleable |
|
|
|
|
|
|
|
|
D ) Husk |
5,760 |
6,240 |
6,720 |
7,200 |
7,680 |
8,160 |
8,640 |
|
E ) Normal Loss |
1,440 |
1,560 |
1,680 |
1,800 |
1,920 |
2,040 |
2,160 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF ASSETS AND LIABILITIES
MR.
SUNIL KUMAR AGARWAL
(RS. IN MILLIONS)
|
PARTICULARS |
Amount
|
|
A. ASSETS |
|
|
Investment in Shares |
1.041 |
|
Deposits in Bank/ Others |
2.770 |
|
Fixed Assets – Immovable Property |
0.214 |
|
Fixed Assets – Flat [Address: 246/247, Balbramchari Galli, Block-A, Lake Town, Kolkata -
700089]. |
0.815 |
|
Fixed Assets – Office [Address: 55/1B, Strand Road, Vinayak Complex, 2nd Floor,
Kolkata - 700006]. |
0.475 |
|
|
|
|
TOTAL ASSETS |
5.315 |
|
|
|
|
B. LIABILITIES |
|
|
Loan from Others |
1.155 |
|
|
|
|
TOTAL
LIABILITIES |
1.155 |
|
|
|
|
NETWORTH [A-B] |
4.160 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF ASSETS AND LIABILITIES
MR.
PURUSHOTTAM AGARWAL
(RS. IN MILLIONS)
|
PARTICULARS |
Amount
|
|
A. ASSETS |
|
|
Investment in Shares |
1.070 |
|
Deposits in Bank/ Others |
4.202 |
|
Fixed Assets – Immovable Property |
0.232 |
|
Fixed Assets – Flat [Address: 246/247, Balbramchari Galli, Block-A, Lake Town, Kolkata -
700089]. |
0.851 |
|
Fixed Assets – Office [Address: 55/1B, Strand Road, Vinayak Complex, 2nd Floor,
Kolkata - 700006]. |
0.511 |
|
|
|
|
TOTAL ASSETS |
6.866 |
|
|
|
|
B. LIABILITIES |
|
|
Loan from Others |
0.875 |
|
|
|
|
TOTAL
LIABILITIES |
0.875 |
|
|
|
|
NETWORTH [A-B] |
5.991 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
[GENERAL DETAILS]
|
1. |
Purpose of valuation |
To assess fair market value of the property
for mortgaging purpose as desired by the Manager, United Bank of India –
Lohapatty Branch. |
|
|
|
|
|
2. |
Date of Inspection |
11.08.2013 |
|
|
|
|
|
3. |
Person/s accompanying/ available at the site
at time of visit/ inspection/ valuation |
Representative of the company. |
|
|
|
|
|
4. |
Complete address of the site property [Door
No./ Street/ cross road survey no. etc.] |
M/s. Pragati Edible Processing Private Limited Village Kajla, P.O. Jakpur, District Paschim
Medinipur, West Bengal Director: Mr. Purushottam Agarwal |
|
|
|
|
|
|
Property identified by |
Representative of the company. |
|
|
|
|
|
|
Boundaries |
North: Vacant Land, Plot No. 584 & 589, South: Vacant Land, Plot No. 578 & 579 East: Vasant Land, Plot No. 566 & 574 West: 16’ wide Village Road. |
|
|
|
|
|
5. |
Ownership of the property |
M/s. Pragati Edible Processing Private
Limited |
|
|
|
|
|
|
Name and address of the owners |
M/s. Pragati Edible Processing Private
Limited, Village Kajla, P.O. Jakpur, District Paschim
Medinipur, West Bengal Director: Mr. Purushottam Agarwal Registered Office: Vinayak Complex, 55/1B,
Strand Road, 2nd Floor, Kolkata – 700006 Tel. No.: 91-33-22591055/ 22591066 |
|
|
|
|
|
|
Since how long owning the property |
Last four years |
|
|
|
|
|
6. |
Name of the vendors |
a) Mrs. Kakoli Mukherjee b) Tarak Mandi c) Gobinda Mudi d) Mrs. Kakoli Mukherjee e) Mr. Gopinath Chatta – Padhyay and Mrs. Santana Bose f)
Mrs. Binu Chatterjee
and Mrs. Minu Chatterjee g) Mrs. Sulakshana Bhattacharya h) Mr. Jagadish Chandra Ghosh i)
Mr. Guruhari Ghosh j)
Mr. Shib Shankar Ghosh k) Mrs. Bulurani Patra l)
Mr. Pradip Kumar Ghosh and
Mr. Pankaj Ghosh. |
|
|
|
|
|
7. |
Reference to documents |
a) Deed no. 05467/2009 b) Deed no. 00413/2010 c) Deed no. 00411/2010 d) Deed no. 05469/2009 e) Deed no. 2326/2009 f)
Deed no. 2327/2009 g) Deed no. 2330/2009 h) Deed no. 1665/2009 i)
Deed no. 1672/2009 j)
Deed no. 1673/2009 k) Deed no. 1675/2009 l)
Deed no. 1668/2009 |
|
|
|
|
|
8. |
Corporation/ Municipal/ Panchayat tax paid 1) Amount 2) Year of Assessment 3) Date of Payment |
Lachmapur Gram Panchayat Rs. 20059/- 2013-2014 04.06.2013 |
|
|
|
|
|
9. |
Locational advantages/ disadvantages |
The nearest Railway station Jagpur in South
Eastern Section is approximately 2 Km. away from the site. Local Public
Transport System is available and the site is well-connected with National
Highway No. NH-6. |
|
|
|
|
|
|
Classification of locality – Higher class/
Middle Class/ Poor Class |
Middle Class locality |
|
|
|
|
|
|
Civic Amenities |
Within 2 Km radius |
|
|
|
|
|
|
Proximity to surface communication |
Adjacent to the site |
|
|
|
|
|
|
Distance from the city Municipality/
Panchayat/ Corporation |
Within 2 Km from the site |
|
|
|
|
|
|
Disadvantages, if ant to be specified |
Nothing in specific |
|
|
|
|
|
10. |
Title to the property a) Weather freehold b) If not freehold what is the unexpired period of the lease? c) If leasehold, name of the lessor/ lessee Nature of the lease date of
commencement and terms of renewal of lease |
It is freehold property. Not Applicable Not Applicable |
|
|
|
|
|
11. |
Type of the property-weather a) Agricultural b) Industrial c) Residential [Flats/Apartment] [Any restrictive
clauses for sale etc.] d) Commercial e) Institutional f)
Other [Specify] |
-- It is an Industrial Property. -- -- -- -- |
|
|
|
|
|
12. |
What is the |
|
|
|
1) Year of acquisition/ purchase of land |
2010 |
|
|
2) Value/purchase price paid |
Not Available |
|
|
3) Year of construction super-structure/ purchase of building/ purchase of
flat/ purchase of shed |
2011 |
|
|
4) Number of floors/stories |
There are various structures. Annexure added |
|
|
5) Year of completion |
2012 |
|
|
6) Cost of construction/ purchase price Building |
Rs. 33.870 Millions |
|
|
7) Rate and amount of depreciation |
The structures are two years old and depreciation
considered is 2.5%. |
|
|
8) Present written down value of constructed portion |
Rs. 24.174 Million as on 31.03.2013. |
|
|
9) Valuer’s opinion regarding the present condition/ state of building |
The structures are constructed with two years
and are in sound condition. |
|
|
10) Estimated future life |
80 Years |
|
|
|
|
|
13. |
Area of land to be supported by a
map/showing shape dimension and physical features |
4.87 acres [for existing project] and 0.40 acres
[for expansion project]. Total 5.27 acres |
|
|
|
|
|
|
Type / class of construction |
Good |
|
|
|
|
|
|
Service item available [List of all items to be provided such as lifts,
borewell, sump, embedded motor, DG set water supply, sanitary disposal
systems, canteen, store, etc.] |
Available |
|
|
|
|
|
14. |
If the property is Industrial |
|
|
|
1) Sanctioned/ Connected Power load |
The company is availing power from WBSEDCL
source. |
|
|
2) Type of activity presently going at the premises |
Steamed/Boiled rice processing plant. |
|
|
|
|
|
15. |
Whether the property is Residential flat/
apartment, if so, then state |
Not Applicable |
|
|
|
|
|
16. |
If the property is commercial type – state |
Not Applicable |
|
|
|
|
|
17. |
If the property is agricultural state- |
Not Applicable |
|
|
|
|
|
18. |
Whether the building/ property is constructed
strictly according to the sanction plan – Details of variation, noticed, if
any and effect of the same on the valuation to be dealt with specifically. |
Yes |
|
|
|
|
|
19. |
Whether the property is self-occupied if
tenanted / let out |
Not Applicable |
|
|
|
|
|
20. |
Valuation Summary |
Land Valuation Annexure A Building Valuation Annexure B Plant and Machinery Annexure C |
|
|
|
|
|
|
a) Land [Annexure A] |
Rs. 28.458 Millions |
|
|
b) Building [Annexure B] |
Rs. 33.870 Millions |
|
|
c) Plant and Machinery [Annexure C] |
Rs. 55.010 Millions |
|
|
|
|
|
|
Total |
Rs. 117.338 Millions |
|
|
|
|
|
21. |
1) Fair Market Value |
Rs. 117.338 Millions |
|
|
2) Realizable Value |
Rs. 105.604 Millions |
|
|
3) Forced sale value |
Rs. 93.870 Millions |
|
|
|
|
|
22. |
Source of information for arriving at the
forced sale value |
It is modernized and fully automatic unit,
which is considered during assessment of forced sale value. |
VALUATION OF LAND
[ANNEXURE
A]
|
North & South East & West |
Please refer to Serial No. 14 under the General section in the
valuation report. |
|
|
|
|
Total extent of the plot considered for valuation |
5.27 acre |
|
|
|
|
Prevailing market rate |
Rs. 5.300 Millions to Rs. 5.500 Millions per acres. |
|
|
|
|
Guideline rate obtained from the Registrar’s Office [an evidence,
thereof to be enclosed] |
Not readily available |
|
|
|
|
Assessed/adopted rate of valuation |
Rs. 5.400 Millions per acre. |
|
|
|
|
Estimated value of land |
Rs. 28.458 Millions |
VALUATION OF CIVIL STRUCTURE
[ANNEXURE
B]
|
Sr. no. |
Particulars of items |
Plinth Area in Sq. ft. |
Roof Ht. in
Ft. |
Year of Construction |
Estimated rate of construction Rs./ Sq. ft. |
Replacement Cost Rs. in Millions |
Depreciation ** Rs. in Millions |
Net Value after depreciation Rs. in Millions |
|
|
|
|
|
|
|
|
|
|
|
1 |
Plant room |
10329 |
22’-0” |
2011 |
650 |
6.714 |
0.168 |
6.546 |
|
|
|
|
|
|
|
|
|
|
|
2 |
Electrical room |
932 |
12’-0” |
2011 |
600 |
0.559 |
0.014 |
0.545 |
|
|
|
|
|
|
|
|
|
|
|
3 |
Office ground
floor |
1550 |
10’-0” |
2011 |
850 |
1.318 |
0.033 |
1.285 |
|
|
|
|
|
|
|
|
|
|
|
4 |
Office first
floor |
1550 |
10’-0” |
2011 |
750 |
1.162 |
0.029 |
1.133 |
|
|
|
|
|
|
|
|
|
|
|
5 |
Paddy godown |
15100 |
22’ |
2011 |
625 |
9.438 |
0.236 |
8.597 |
|
|
|
|
|
|
|
|
|
|
|
6 |
Godown shed for
expansion project |
15127 |
22’ |
2013 |
625 |
9.454 |
-- |
9.454 |
|
|
|
|
|
|
|
|
|
|
|
7 |
Boiler |
1189 |
20’ |
2011 |
550 |
0.654 |
0.016 |
0.638 |
|
|
|
|
|
|
|
|
|
|
|
8 |
Staff and labour
quarter |
4556 |
10’ |
2011 |
600 |
2.733 |
0.068 |
2.665 |
|
|
|
|
|
|
|
|
|
|
|
9 |
Husk room |
1769 |
16’ |
2011 |
550 |
0.973 |
0.024 |
0.949 |
|
|
|
|
|
|
|
|
|
|
|
10 |
Brick chimney |
144 |
111’ |
2011 |
L.S. |
1.000 |
0.100 |
0.900 |
|
|
|
|
|
|
|
|
|
|
|
11 |
Drier and
Parboiling |
1426 |
14’ |
2011 |
550 |
0.784 |
0.019 |
0.765 |
|
|
|
|
|
|
|
|
|
|
|
12 |
Silo |
672 |
18’ |
2011 |
600 |
0.403 |
0.010 |
0.393 |
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
|
|
|
|
33.870 |
** The rate of depreciation is considered @1.25% p.a. i.e. 2.5% in this
case. No depreciation is charged against the new Godwon Shed for expansion
project.
VALUATION
OF CIVIL STRUCTURE
[ANNEXURE
C]
|
Sr. No. |
Equipment |
Supplier |
Amount in Millions |
|
1 |
Drier and
Par-Boiling Plant with SS Equipments |
SKF Boilers and
Driers Private Limited |
12.334 |
|
|
|
|
|
|
2 |
Boiler, Capacity
5 TPH with all accessories |
Energy Tek
Boiler |
4.040 |
|
|
|
|
|
|
3 |
Electronic
Colour Sortex Machine |
Buhler Sortex
Limited |
6.916 |
|
|
|
|
|
|
4 |
Milling Section
with Plant and Machinery Details |
Buhler India
Private Limited |
17.229 |
|
|
|
|
|
|
5 |
Electrical
Control Panel with PLC |
Buhler India
Private Limited |
3.453 |
|
|
|
|
|
|
6 |
Elevators |
Eminence
Equipments Private Limited |
3.159 |
|
|
|
|
|
|
7 |
Pre-Cleaner |
Fowler Westrup
India Private Limited |
0.787 |
|
|
|
|
|
|
8 |
Length Grader |
Schmidt Seeger India
Private Limited |
0.772 |
|
|
|
|
|
|
9 |
Air Compressor
for Sortex Machine |
Atlas Copco
India Limited |
0.543 |
|
|
|
|
|
|
10 |
Husk Hopper and
Miscellaneous |
|
0.325 |
|
|
|
|
|
|
11 |
Motor Vehicle |
|
0.088 |
|
|
|
|
|
|
12 |
Air Conditioner |
|
0.171 |
|
|
|
|
|
|
13 |
Computer,
Printer and Software |
|
0.548 |
|
|
|
|
|
|
14 |
Office
Equipments |
|
0.181 |
|
|
|
|
|
|
15 |
Weigh bridge [60
T] and Miscellaneous Fixed Assets |
|
1.780 |
|
|
|
|
|
|
16 |
Electrical
Installation |
|
4.135 |
|
|
|
|
|
|
17 |
DG Set [2 Nos.] |
|
3.581 |
|
|
|
|
|
|
18 |
Effluent
Treatment Plant |
|
2.205 |
|
|
|
|
|
|
19 |
Furniture and
fixtures |
|
0.264 |
|
|
|
|
|
|
|
Total |
62.511 |
|
|
|
Depreciation 12% |
7.501 |
|
|
|
Present Market Value |
55.010 |
|
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10220964 |
23/09/2013 * |
115,287,000.00 |
UNITED BANK OF INDIA |
LOHAPATTY BRANCH, 23/3,
MAHARSHI DEVENDRA ROAD, |
B87338422 |
* Date of charge modification
------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCES
· DEC Agrotech Private Limited, Kolkata
UG
Agro Food India Limited, Howrah, West Bengal
Amira
Pure Foods Private Limited, New Delhi
S
G Traders, Basirhat, West Bengal
FIXED ASSETS:
· Land
Plant
and Machinery
Air
Conditioner
Office
Equipment
Water
treatment plant
DG
set
Electric
Installation
Misc.
Fixed Assets
Motor
Cycle
Computer
Civil
and Building
Furniture
and Fixture
------------------------------------------------------------------------------------------------------------------------------
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.26 |
|
|
1 |
Rs. 97.51 |
|
Euro |
1 |
Rs. 77.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.