WORKING CAPITAL ASSESMENT

Particulars Days 1st Year 2nd Year 3rd Year 4th Year 5th Year
Raw material 25 1391333 1623222 1855111 2087000 2318889
WIP 5 302200 352567 402933 453300 503667
Finished Goods 15 978400 1141467 1304533 1467600 1630667
Total (Working Expenses) 2671933 3117256 3562578 4007900 4453222
Debtors (Receivable) 30 1956800 2282933 2609067 2935200 3261333
Total 4628733 5400189 6171644 6943100 7714556
O/H Payable 15 11840 13813 15787 17760 19733
Total 11840 13813 15787 17760 19733
WCG 4616893 5386376 6155858 6925340 7694822
Margin 25% 1154223 1346594 1538964 1731335 1923706
MPBF 3462670 4039782 4616893 5194005 5771117
Interest 484774 565569 646365 727161 807956
 Early Expenditure (225 Days) for 10000 Qtls
Cost of Raw Seed 20870000
Packing Material 1050000
Seed Processing-Labour cost 1000000
Repair & Maintenance 84000
Insurance 60000
Salary 696000
Electricity Charges 200000
Office Expenses 100000
Sale Promotion 200000
Overhead 200000
Total without seed cost 3590000
Half of the above 1795000
Cost for WIP(seed cost+above) 22665000
Cost of finished Goods 24460000
Total Overhead 2960000
Current ratio Quick ratio Year 1 Year 2 Year 3 Year 4 Year 5
Interest coverage ratio 1.87 2.63 3.50 4.44 5.45
Debt equity ratio 1.87 2.63 3.50 4.44 5.45
TOL/TNW 5.88 7.52 10.31 14.70 22.90
Debt
DSCR Service Coverage Ratio (Average)
1.373 0.714 3.480.389 0.207 0.096
Gross profit Sales 1.66 0.90 0.53 0.32 0.19
Current
Percentageratio (Average)
% Net profit 2.77 3.00 3.583.44 3.88 4.32
Sales Percentage % 14.81 15.13
Paticulars
Return On Capital % Year %1 Year15.37
%2 Year 15.55
3
% Year 415.68
% Year 5
Employed
Current ratio 6.70 1.87 7.67 2.638.47 3.50 9.10 4.44 9.605.45
% % % % %
Quick ratio 0.36 1.87 0.39 2.630.39 3.50 0.38 4.44 0.365.45
Interest coverage ratio 5.88 7.52 10.31 14.70 22.90
Debt equity ratio 1.37 0.71 0.39 0.21 0.10
TOL/TNW 1.66 0.90 0.53 0.32 0.19
DSCR 2.77 3.00 3.44 3.88 4.32
Gross profit Sales Percentage % 14.81% 15.13% 15.37% 15.55% 15.68%
Net profit Sales Percentage % 6.70% 7.67% 8.47% 9.10% 9.60%
Return On Capital Employed 0.36 0.39 0.39 0.38 0.36
 Particulars Amount
Land & Land Development 750000
Building / Shed 2,800,000
Plant Machinery 2,785,000
Preliminary & Pre-operative 200,000
expenses
Other miscellaneous expenses 250,000
Contingent 200,000
Working Capital 2,718,000
Total 9,703,000
 Particulars Sale Details Amount
Rice ,Suji,Bran & 40000 x 1449 57,960,000.00
Husk Ton / Year
Total 57,960,000.00
Particulars Amount
Salary of Staff 1,116,000
Sale Promotion Expenses 264,000
Repairs and maintenance 84,000
Insurance 36,000
Cost of Raw Seed 35,280,000
Other variable expenditure 6,300,000
Processing & labour charges 5,850,000
Total 48,930,000
 Particulars Subsidy% Rate Amount
Land & Land 0 750,000 750,000
Development
Building / Shed 2,800,000 2,800,000
Plant Machinery 2,785,000 2,785,000
Preliminary & Pre- 200,000 200,000
operative expenses
Other miscellaneous 250,000 250,000
expenses
Contingent 200,000 200,000
Total Investment 6,985,000
Total Subsidy 0
Net Investment 6,985,000
 Particulars Amount
Term Loan 5,238,750
Working capital Loan 2,038,500
Total loan 7,277,250
Term Loan contribution 1,746,250
Working capital contribution 679,500
 AII figures are in lakhs
Particulars Estimate Projected Projecte Projecte
d
1st Year 2nd Year d
3rd Year d
4th Year

Utilisation of installed @60% @ 70 % @ 80 % @ 90 %

capacity
Revenue from operation

Rice ,Suji,Bran & Husk 347.76 40572 463.68 523 .64

Add :
Closing stock 0 0 0 0
Total 347.76 405.72 463.68 521.64
Less :
Opening stock 0 0 0 0
Cost of Raw Seed 211.68 246.96 282.24 317.52
Other variable 37.8 44.1 50.4 56.7
expenditure
Salary of Staff 11.16 11.72 12.3 12.92
Processing & labour 35.10 40.95 46.80 52.65
charges
Repairs and 0.50 0.59 0.67 0.76
maintenance
Total 296.24 344.32 392.42 440.55
Gross profit 51.52 61.4 71.26 81.09
Less :
Sale Promotion 2.64 2.77 2.91 3.06
Expenses
Insurance 0.36 0.36 0.36 0.36
Total 3.00 3.13 3.27 3.42
Depreciation 6.98 6.07 5.29 4.61
Interest on TL 5.40 4.90 3.74 2.43
Interest on WC 2.85 2.85 2.85 2.85
Total 18.23 16.95 15.155 13.31
Profit before tax 33.29 44.45 56.12 67.79
Income Tax 9. 99 13.33 36.83 20.34
Profit after tax 23.3 31.11 39.28 47.45
Projected
5th Year

@ 100 %

579.6

0
579.6

0
352.8
ó 3.00

13.57
58.50

0.84

488.7 3
90.89

3.21

0.36
3.57
4.02
0.96
2.85
11.4
79.49
23.85
55.65
 AII figures are in lakhs
Pre Estimated Projected Projected
operative 1st Year 2nd Year 3rd Year
period
Cash Inflow
Capital 17.46 6.80 0 0
Subsidy 0 0 0 0
Termloan 52.39 0 0 0
Profit before tax with 0 41.54 52.20 62.71
interest
Increase in WC loan 0 20.39 0 0
Depreciation 0 6.98 6.07 5.29
Increase in Current liability 0 13.57 3.60 1.49

Total Cash Inflow 69.85 89.27 59.63 69.49

Cash Outflow
Fixed Assets 69.85 0 0 0
Increase in Current asset 0 0 0
Interest on TL 0 5.40 4.90 3.74
Interest on WC 0 2.85 2.85 2.85
Income Tax 0 9.99 13.33 16.83
Decrease in Term loan 7.47 9.14 10.3
Total Cash Outflow 69.85 25.71 30.23 33.73
Opening balance 0 0 63.56 92.96
Net Cashflow 0 63.56 29.4 35.76
Closing balance 0 63.56 92.96 128.71
 Projected Projected
4th Year 5th Year

0 0
0 0
0 0
73.07 83.31

0 0
5 4.02
1.64 181.00

79.32 89.13

0 0
0 0
2.43 0.96
2.85 2.85
20.34 23.85
11.6 13.08
37.23 40.74
128.71 170.8
42.09 48.39
170.8 219.19
 AII figures are in lakhs
Pre Estimated Projected Projected Projected
operative 1st Year 2nd Year 3rd Year 4th Year
period
Liability
A. Share holders funds
Capital 17.46 24.26 24.26 24.26 24.26
Subsidy 0 0 0 0 0
Reserve & Surplus 0 23.30 54.42 93.70 141.15
B.Non current Liabilities

Term loan 52.39 44.91 35.77 25.47 13.8ó

C.Current Liabilities
Working capital loan 0 20.39 20.39 20.39 20.39
Account payable 33.57 14.93 16.42 18.06
Asset
A. Non current Assets
Fixed Assets 69.85 62.87 56.8 51.52 46.91
B. Current Assets
Inventory 0 0 0 0 0
Trade receivables 0 0 0 0 0
Cash and cash 0 63.56 92.9ó 128.71 170.8
equivalence
 Projected
5th Year

2426
0
196.79

0.78

20.39
19.87

42.89

0
0
219.19
 All figures are in lakhs
Estimated Projected Projected Projected
Particulars
1st Year 2nd Year 3rd Year 4th Year
Receipts
a).Net Profit 23.3 31.11 39.28 47.45
b).Depreciation 6.98 6.07 5.29 4.61
c).Interesa on termloan 5.40 4.90 3.74 2.43
Total 35.68 42.08 48.33 54.49
a) Loan Principal 7.47 9.14 10.3 11.61
b).Interest on termloan 5.4 4.9 3.74 2.43
Total 12.87 14.04 14.04 14.04
DSCR 2.77 3.00 3.44 3.88
Average DSCR - 3.48
Projected
5th Year

55.65
4.02
0.96
60.62
13.08
0.96
14.04
4.32
 All figures are in lakhs
Particulars Rate Estimated Projected Projected Projected
Building / Shed 10 2800 25.2 22.68 2041
Less Depreciation 2.8 2.52 2.27 2.04
Written down value 25.2 22.68 20.41 1837
Plant Machinery 15 2785 23.67 20.12 17.1
Less Depreciation 418 3.55 3.02 2.57
Written down value 2367 20.12 17.1 1A.54
Total less depreciation 6.98 6.07 5.29 4.61
Total written down value 62.87 56.8 51.52 46.91
Projected
1837
1.84
16.53
14.54
2.18
12.36
4.02
42.89
 All figures are in lakhs
Installment Outstanding Principal Interest Amount Outstanding
Nos. at the repayment paid at the end
beginning
1 52.39 0.65 0.52 1.17 51.74
2 51.74 0.65 0.52 1.17 5J .09
3 51.09 0.66 0.51 1.17 50.43
4 50.43 0.67 0.50 1.17 49.76
5 49.76 0.67 0.50 1.17 49.09
ó 49.09 0.68 0.49 1.17 48.41
7 48.41 0.69 0.48 1.17 47.73
8 47.73 0.69 0.48 1.17 47.03
9 47.03 0.70 0.47 1.17 46.33
10 46.33 0.71 0.46 1.17 45.63
11 45.63 0.71 0.46 1.17 44.91
12 44.91 0.72 0.45 1.17 44.19
13 44.19 0.73 0.44 1.17 43.46
14 43.46 0.74 0.43 1.17 42.73
15 42.73 0.74 0.43 1.17 41.99
16 41.99 0.75 0.42 1.17 41.24
17 41.24 0.76 0.41 1.17 40.48
18 40.48 0.77 0.40 1.17 39.71
19 39.71 0.77 0.40 1.17 38.94
20 38.94 0.78 0.39 1.17 38.16
21 38.16 0.79 0.38 1.17 37.37
22 37.37 0.80 0.37 1.17 36.58
23 36.58 0.80 0.37 1.17 35.77
24 35.77 0.81 0.36 1.17 34.96
25 34.96 0.82 0.35 1.17 34.14
26 34.14 0.83 0.34 1.17 33.31
27 33.31 0.84 0.33 1.17 32.47
28 32.47 0.85 0.32 1.17 31.63
29 31.63 0.85 0.32 1.17 30.77
30 30.77 0.86 0.31 1.17 29.91
31 29.91 0.87 0.30 1.17 29.04
32 29.04 0.88 0.29 1.17 28.16
33 28.16 0.89 0.28 1.17 27.27
34 27.27 0.90 0.27 1.17 2ó .38
35 26.38 0.91 0.26 1.17 25.47
36 25.47 0.92 0.25 1.17 24.55
37 24.55 0.92 0.25 1.17 23.63
38 23.63 0.93 0.24 1.17 22.7
39 22.70 0.94 0.23 1.17 21.75
40 21.75 0.95 0.22 1.17 20.8
43 20.80 0.96 0.21 1.17 19.84
42 19.84 0.97 0.2 1.17 18.87
43 8.870 0.98 0.19 1.17 17.89
44 17.89 0.99 0.18 1.17 16.89
45 16.89 1.00 0.17 1.17 15.89
46 15.89 1.01 0.16 1.17 14.88
47 14.88 1.02 0.15 1.17 13.86
48 13.86 1.03 0.14 1.17 12.83
49 12.83 1.04 0.13 1.17 11.79
50 11.79 1.05 0.12 1.17 10.74
51 10.74 1.06 0.11 1.17 9.67
52 9.67 1.07 0.097 1.17 8.60
53 8.60 1.08 0.086 1.17 7.52
54 7.52 1.09 0.075 1.17 6.42
55 6.42 1.11 0.064 1.17 5.32
56 5.32 1.12 0.053 1.17 4.2
57 4.20 1.13 0.042 1.17 3.07
58 3.07 1.14 0.031 1.17 1.93
59 0.93 1.15 0.019 1.17 0.78
60 0.78 0.78 0.0078 0.79 0
 Total
Profit 30.34 38.36 47.03 55.72 64.45 235.90
Net cash flow -63.15 61.99 33.46 39.77 46.65 53.47
Cumulative CF -63.15 -1.16 32.3 72.07 118.72 172.19
NPV Rs. 83.01
Rs. 95.46
IRR 73.2931943732646%
73%

1.511639

Payback Period 2.03466826060968

NPV 95.46
IRR 73%
Average
47.18 74.71101 205.92 240.24 274.56 308.88 343.2

15%
Fixed Cost
Salary of Staff
Processing & labour 6.96 6.96 6.96 6.96 6.96
charges 6 7 8 9 10
Repairs and
maintenance 0.5 0.59 0.67 0.76 0.84
Electricity Charges 1.22 1.43 1.63 1.84 2.04
Sale Promotion
Expenses 1.2 1.32 1.45 1.6 1.76
Phone etc. 0.6 0.66 0.73 0.8 0.88
Insurance 0.6 0.66 0.73 0.8 0.88
Interest on TL 4.19 4.21 3.21 2.08 0.81
Interest on WC 4.85 4.85 4.85 4.85 4.85
Depreciation 4.94 4.32 3.79 3.32 2.91
31.06 32 32.02 32.01 31.93
Variable Cost
Cost of Raw Seed 125.22 146.09 166.96 187.83 208.7
Packing Material 6.3 7.35 8.4 9.45 10.5
Labour and Proc. 6.00 7.00 8.00 9.00 10.00
137.52 160.44 183.36 206.28 229.2

Sale Price per ton 0.36

Variable Cost per ton 0.23
Particulars Year 1 Year 2 Year 3 Year 4 Year 5
Sale 205.92 240.24 274.56 308.88 343.20
Variable cost 137.52 160.44 183.36 206.28 229.20
Contribution 68.40 79.80 91.20 102.60 114.00
Fixed Cost 31.06 32.00 32.02 32.01 31.93
Break Even Point - Unit 238.9231 246.15 246.3077 246.2308 245.6154
(Ton)
Break Even Point-Sale 93.51 96.34 96.40 96.37 96.13
(Lakhs)
 Ø PRODUCTION AND SALE REVENUE
Product Prodn. in %/ Total Production in MT/ Value in Rs. Lakhs
Rate (Rs.per 1st Year 2nd Year 3rd Year 4th Year
ton)
Raw Material used 600.00 700.00 800.00 900.00
Head Rice Prodn. -62% 372.00 434.00 496.00 558.00
Sale - 50000 186.00 217.00 248.00 279.00
Husk Prodn.-18% 108.00 126.00 144.00 162.00
Sale - 1500 1.62 1.89 2.16 2.43
Broken Rice Prodn.-7% 42.00 49.00 56.00 63.00
Sale - 20000 8.40 9.80 11.20 12.60
Bran Prodn.-5% 30.00 35.00 40.00 45.00
Sale - 6000 1.80 2.10 2.40 2.70
Total Production 552.00 644.00 736.00 828.00
Total Sale Value 197.82 230.79 263.76 296.73
Average sale price
n Rs. Lakhs
5th Year

1000.00
620.00
310.00
180.00
2.70
70.00
14.00
50.00
3.00
920.00
329.70
0.35837
REPAYMENT OF TERM LOAN
All figures are in lakhs

Outstanding Outstanding
at the Principal Interest Amount at the end of
Instalment No. beginning Repayment Amount Paid year
1 38.06 0 0.38 0.38 38.06
2 38.06 0 0.38 0.38 38.06
3 38.06 0 0.38 0.38 38.06
4 38.06 0 0.38 0.38 38.06
5 38.06 0 0.38 0.38 38.06
6 38.06 0 0.38 0.38 38.06
7 38.06 0 0.38 0.38 38.06
8 38.06 0 0.38 0.38 38.06
9 38.06 0 0.38 0.38 38.06
10 38.06 0 0.38 0.38 38.06
11 38.06 0 0.38 0.38 38.06
12 38.06 0 0.38 0.38 38.06
0 4.56
13 38.06 0.63 0.38 1.01 37.43
14 37.43 0.64 0.37 1.01 36.79
15 36.79 0.64 0.37 1.01 36.15
16 36.15 0.65 0.36 1.01 35.5
17 35.5 0.65 0.36 1.01 34.85
18 34.85 0.66 0.35 1.01 34.18
19 34.18 0.67 0.34 1.01 33.52
20 33.52 0.67 0.34 1.01 32.84
21 32.84 0.68 0.33 1.01 32.16
22 32.16 0.69 0.32 1.01 31.47
23 31.47 0.7 0.31 1.01 30.78
24 30.78 0.7 0.31 1.01 30.07
7.98 4.14
25 30.07 0.71 0.3 1.01 29.36
26 29.36 0.72 0.29 1.01 28.65
27 28.65 0.72 0.29 1.01 27.92
28 27.92 0.73 0.28 1.01 27.19
29 27.19 0.74 0.27 1.01 26.45
30 26.45 0.75 0.26 1.01 25.71
31 25.71 0.75 0.26 1.01 24.96
32 24.96 0.76 0.25 1.01 24.2
33 24.2 0.77 0.24 1.01 23.43
34 23.43 0.78 0.23 1.01 22.65
35 22.65 0.78 0.23 1.01 21.87
36 21.87 0.79 0.22 1.01 21.08
9 3.12
37 21.08 0.8 0.21 1.01 20.28
38 20.28 0.81 0.2 1.01 19.47
39 19.47 0.82 0.19 1.01 18.66
40 18.66 0.82 0.19 1.01 17.83
41 17.83 0.83 0.18 1.01 17
42 17 0.84 0.17 1.01 16.16
43 16.16 0.85 0.16 1.01 15.31
44 15.31 0.86 0.15 1.01 14.46
45 14.46 0.87 0.14 1.01 13.59
46 13.59 0.87 0.14 1.01 12.72
47 12.72 0.88 0.13 1.01 11.83
48 11.83 0.89 0.12 1.01 10.94
10.14 1.98
49 10.94 0.9 0.11 1.01 10.04
50 10.04 0.91 0.1 1.01 9.13
51 9.13 0.92 0.091 1.01 8.21
52 8.21 0.93 0.082 1.01 7.28
53 7.28 0.94 0.073 1.01 6.35
54 6.35 0.95 0.063 1.01 5.4
55 5.4 0.96 0.054 1.01 4.45
56 4.45 0.97 0.044 1.01 3.48
57 3.48 0.98 0.035 1.01 2.5
58 2.5 0.98 0.025 1.01 1.52
59 1.52 0.99 0.015 1.01 0.52
60 0.52 0.52 0.0052 0.53 0

10.95 0.6972
37 21.08 0.8 0.21 1.01 20.28
38 20.28 0.81 0.2 1.01 19.47
39 19.47 0.82 0.19 1.01 18.66
40 18.66 0.82 0.19 1.01 17.83
41 17.83 0.83 0.18 1.01 17
42 17 0.84 0.17 1.01 16.16
43 16.16 0.85 0.16 1.01 15.31
44 15.31 0.86 0.15 1.01 14.46
45 14.46 0.87 0.14 1.01 13.59
46 13.59 0.87 0.14 1.01 12.72
47 12.72 0.88 0.13 1.01 11.83
48 11.83 0.89 0.12 1.01 10.94
49 10.94 0.9 0.11 1.01 10.04
50 10.04 0.91 0.1 1.01 9.13
51 9.13 0.92 0.091 1.01 8.21
52 8.21 0.93 0.082 1.01 7.28
53 7.28 0.94 0.073 1.01 6.35
54 6.35 0.95 0.063 1.01 5.4
55 5.4 0.96 0.054 1.01 4.45
56 4.45 0.97 0.044 1.01 3.48
57 3.48 0.98 0.035 1.01 2.5
58 2.5 0.98 0.025 1.01 1.52
59 1.52 0.99 0.015 1.01 0.52
60 0.52 0.52 0.0052 0.53 0