SARVAIYA KIRITKUMAR JASVANTRAI

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM II : OPERATING STATEMENT
Rupees in lacs
I II III IV V
Current Following Following Following Following
Year Year Year Year Year
Estimates Projection Projection Projection Projection
1 2 3 4 5
1 GROSS SALES
A) TRADING SALES 45.00 55.00 62.00 70.00 80.00
B) MANUFACTURING SALES/JOB WORK 0.00 0.00 0.00 0.00 0.00
C) OTHER INCOME 0.00 0.00 0.00 0.00 0.00
TOTAL-----------> 45.00 55.00 62.00 70.00 80.00
2 LESS : EXCISE DUTY/LEVIES 0.00 0.00 0.00 0.00 0.00
3 NET SALES (1-2) ...................... 45.00 55.00 62.00 70.00 80.00
4 %AGE RISE (+) OR FALL (-) IN NET 0.00 22.22 12.73 12.90 14.29
SALES AS COMPARE OT PREVIOUS YR

5 COST OF SALES
I) RAW MATERIALS/PURCHASES(INCLUDING
AND OTHER ITEMS USED IN THE
PROCESS OF MANUFACURE
(a) IMPORTED 0.00 0.00 0.00 0.00 0.00
(b) INDEGINIOUS -MAIN RAW MATERILS 26.65 32.45 38.15 45.65 53.95

II) PACKING & CONSUMABLES

(a) IMPORTED.......................... 0.00 0.00 0.00 0.00 0.00
(b) INDIGENOUS....................... 0.00 0.00 0.00 0.00 0.00

III) POWER & FUEL 2.25 2.75 3.10 3.50 4.00

IV) DIRECT LABOUR.................... 3.38 4.13 4.65 5.25 6.00

V) OTHER TRADING EXP...... 0.00 0.00 0.00 0.00 0.00

VI) DEPRECIATION ............................ 3.75 3.19 2.71 2.30 1.96

VII) SUB-TOTAL (I TO VI)................... 36.03 42.51 48.61 56.70 65.91

VIII) ADD: OPENING STOCK-IN-PROCESS 0.00 0.00 0.00 0.00 0.00

SUB TOTAL................... 36.03 42.51 48.61 56.70 65.91

IX)LESS : CLOSING STOCK-IN-PROCESS 0.00 0.00 0.00 0.00 0.00

X) COST OF PRODUCTION............... 36.03 42.51 48.61 56.70 65.91

 CONTINUED
XI) ADD: OPENING STOCK OF 0.00 2.54 2.75 2.95 3.25
FINISHED GOODS..................

SUB-TOTAL....................... 36.03 45.05 51.36 59.65 69.16

XII) LESS: CLOSING STOCK OF 2.54 2.75 2.95 3.25 3.65

FINISHED GOODS...............

XIII) SUB TOTAL (TOTAL COST 33.49 42.30 48.41 56.40 65.51
OF SALES).................................. 11.52 12.70 13.59 13.60 14.49

7 SELLING, GENERAL AND 1.00 1.00 1.20 1.20 1.50

ADMINISTRATIVE ESPENSES,...........

SUB TOTAL ( 5 + 6 )....................... 34.49 43.30 49.61 57.60 67.01

8 OPERATING PROFIT BEFORE INTEREST 10.52 11.70 12.39 12.40 12.99

( 3 - 7 )................................

9 INTEREST ON CASH CREDITS 0.24 0.24 0.24 0.24 0.24

INTEREST ON TERM LOAN 2.40 1.87 1.34 0.81 0.29

10 OPERATING PROFIT AFTER INTEREST 7.88 9.59 10.81 11.35 12.46

I) ADD : OTHER NON-OPERATING

INCOME
(a) OTHER INCOME 0.00 0.00 0.00 0.00 0.00
SUB TOTAL INCOME.................. 0.00 0.00 0.00 0.00 0.00
II) LESS: OTHER NON-OPERATING 0.00 0.00 0.00 0.00 0.00
EXPENSES
SUB TOTAL EXPENSES................... 0.00 0.00 0.00 0.00 0.00
III) NET NON OPERATING INCOME/EXP. 0.00 0.00 0.00 0.00 0.00

11 PROFIT BEFORE TAX/LOSS [ 10-11(III) ] 7.88 9.59 10.81 11.35 12.46

12 PROVISION FOR TAX.......................... 0.00 0.00 0.00 0.00 0.00

13 NET PROFIT /LOSS (12-13)................. 7.88 9.59 10.81 11.35 12.46

CASH PROFIT 11.63 12.78 13.52 13.65 14.42

14 (a) INTEREST/REMUNEATION TO PARTNERS 3.00 5.00 6.00 6.00 9.00
(b) DIVIDEND RATE.......................... 0.00 0.00 0.00 0.00 0.00

15 RETAINED PROFIT (14-15).............. 4.88 4.59 4.81 5.35 3.46

16 RETAINED PROFIT/NET PROFIT (%)... 100.00 100.00 100.00 100.00 100.00

 SARVAIYA KIRITKUMAR JASVANTRAI
FORM III : ANALYSIS OF BALANCE SHEET
Rupees in lacs
I II III IV V
Current Following Following Following Following
Year Year Year Year Year
Estimates Projection Projection Projection Projection
1 2 3 4 5
CURRENT LIABILITES
1 SHORT TERM BORROWINGS FROM
BANK (INCLUDING BILLS PURCHASED
AND DISCOUNTED AND THE EXCESS
BORROWINGS PLACED ON
REPAYMENT BASIS)
I) FROM APPLICANT BANK............... 2.00 2.00 2.00 2.00 2.00
II) FROM OTHER BANKS................... 0.00 0.00 0.00 0.00 0.00
III) (OF WHICH BP & BD)................... ('0.00) ('0.00) ('0.00) ('0.00) ('0.00)
SUB TOTAL (A)................... 2.00 2.00 2.00 2.00 2.00
2 SHORT TERM BORROWINGS 0.00 0.00 0.00 0.00 0.00
FROM OTHER...................................

3 SUNDRY CREDITORS .......... 2.22 2.70 3.18 3.80 4.50

4 ADVANCE PAYMENTS FROM CUSTOMERS 0.00 0.00 0.00 0.00 0.00

5 PROVISION FOR TAXATION................ 0.00 0.00 0.00 0.00 0.00

( NETTING OFF AT PROVISION & PAYMENTS)
6 DIVIDEND PAYABLE......................... 0.00 0.00 0.00 0.00 0.00

7 OTHER STATURORY LIABILITY (DUE WITHIN 0.00 0.00 0.00 0.00 0.00
ONE YEAR)......................................

8 DEPOSITS/INSTALMENT OF TERM LOANS/ 4.60 4.60 4.60 4.60 0.00

DPGs/DEBENTURES, ETC.DEBENTURES/
REDEEMABLE (DUE WITHIN ONE YEAR)

9 OTHER CURRENT LIABILITIES AND 0.00 0.00 0.00 0.00 0.00

PROVISIONS (DUE WITHIN ON YEAR)
(SPECIFY MEJOR ITEMS)..................
(1)CREDITORS FOR EXP.
(1)CREDITORS FOR OTHERS
SUB TOTAL (B)..................... 6.82 7.30 7.78 8.40 4.50
10 TOTAL CURRENT LIABILITIES 8.82 9.31 9.78 10.40 6.50
( TOTAL OF ITEMS 1 TO 9 )........ 2.22 2.70 3.18 3.80 4.50
 CONTINUED
TERM LIABILITIES

11 DEBENTURE ( NOT MATURING WITHIN 0.00 0.00 0.00 0.00 0.00

ONE YEAR )......................................

12 PREFERENCE SHARES (REDEEMABLE 0.00 0.00 0.00 0.00 0.00

AFTER ONE YEAR)...........................

13 TERM LOANS (EXCLUSIVE OF 13.80 9.20 4.60 0.00 0.00

INSTALMENTS DUE WITHIN ONE YEAR)

14 DEFERRED PAYMENT CREDITS 0.00 0.00 0.00 0.00 0.00

(EXCLUSIVE OF INSTALMENTS DUE
WITHIN ONE YEAR)............................

15 TERM DEPOSIT 0.00 0.00 0.00 0.00 0.00

(PAYABLE AFTER ONE YEAR)...........

16 OTHER TERM LIABILITIES [QUASI CAPITAL] 3.10 0.00 0.00 0.00 0.00

17 TOTAL TERM LIABILITIES 16.90 9.20 4.60 0.00 0.00

(TOTAL OF ITEMS 11 TO 16)..............

18 TOTAL OUTSIDE LIABILITIES 25.72 18.51 14.38 10.40 6.50

(ITEM 10 + 17)..........................

NET WORTH

19 CAPITAL…………. 2.50 7.38 11.96 16.77 22.12

20 GENERAL RESERVE........................ 0.00 0.00 0.00 0.00 0.00

21 VARIOUS SUBSIDIES............ 0.00 0.00 0.00 0.00 0.00

22 OTHER RESERVES 0.00 0.00 0.00 0.00 0.00

23 SURPLUS [+] OR EDFICIT [-] IN 4.88 4.59 4.81 5.35 3.46
PROFIT AND LOSS ACCOUNT........

24 NET WORTH.................................. 7.38 11.96 16.77 22.12 25.58

25 TOTAL LIABILITIES (18+24)............... 33.10 30.47 31.15 32.52 32.08

 (CONTINUED....)
ANALYSIS OF BALANCE SHEET
ASSETS Rupees in lacs
I II III IV V
Current Following Following Following Following
Year Year Year Year Year
Estimates Projection Projection Projection Projection
CURRENT ASSETS 1 2 3 4 5
26 CASH AND BANK BALANCE 3.68 2.78 5.10 7.47 7.34
.
27 INVESTMENTS ( OTHER THAN LONG
TERM INVESTMENTS)
I) GOVERNMENT AND OTHER TRUSTEE 0.00 0.00 0.00 0.00 0.00
SECURITIES..........................
II) DEPOSITS WITH BANK ........ 0.00 0.00 0.00 0.00 0.00
28 I) RECEIVABLES OTHER THAN DEFERRED 5.63 6.88 7.75 8.75 10.00
AND EXPORT RECEIVABLES ( INCLUDING
BILLS PURCHASED AND DISCOUNTED
BY BANKERS )...................................
II) EXPORT RECEIVABLES 0.00 0.00 0.00 0.00 0.00
( INCLUDING BILLS PURCHASED AND
DISCOUNTED BY BANKERS ).......

29 INSTALMENT OF DEFERRED
RECEIVABLES (DUE WITHIN ONE YEAR) 0.00 0.00 0.00 0.00 0.00

30 INVENTORY
I) RAW MATERIALS (INCLUDING STORE
AND OTHER ITEMS USED IN THE
PROCESS OF MANUFACTURE
(a) IMPORTED................................... 0.00 0.00 0.00 0.00 0.00
(b) INDEGENOUS............................. 0.00 0.00 0.00 0.00 0.00
II) STOCK IN PROCESS.................. 0.00 0.00 0.00 0.00 0.00
III) FINISHED GOODS...................... 2.54 2.75 2.95 3.25 3.65
IV) OTHER CONSUMABLE SPARES
(a) IMPORTED............................. 0.00 0.00 0.00 0.00 0.00
(b) INDIGENOUS........................ 0.00 0.00 0.00 0.00 0.00
31 ADVANCES TO SUPPLIERS OF 0.00 0.00 0.00 0.00 0.00
RAW MATERIALS AND STORES/SPARES

32 ADVANCE PAYMENT OF TAXES........ 0.00 0.00 0.00 0.00 0.00

33 OTHER CURRENT ASSETS 0.00 0.00 0.00 0.00 0.00

(SPECIFY MAJOR ITEMS)

34 TOTAL CURRENT ASSETS 11.85 12.41 15.80 19.47 20.99

(TOTAL OF ITEMS 26 TO 33 )............
11.85 12.41 15.80 19.47 20.99
 CONTINUED
FIXED ASSETS
35 GROSS BLOCK ( LAND & BUILDING, 25.00 21.25 18.06 15.35 13.05
MACHINERY,WORK IN PROGRESS)
36 DEPRECIATION TO DATE........................ 3.75 3.19 2.71 2.30 1.96
37 NET BLOCK ( 35 - 36 )............................. 21.25 18.06 15.35 13.05 11.09
NORMAL CAPITAL EXPENDITURE 0.00 0.00 0.00 0.00 0.00
OTHER NON-CURRENT ASSETS
38 INVESTMENTS/BOOK DEBTS/ADVANCES/
DEPOSITS WHICH ARE NOT CURRENT
ASSETS.................................................
I) (a) INVESTMENT IN SUBSIDIARY 0.00 0.00 0.00 0.00 0.00
COMPANIES/AFFILIATES................
(b) OTHERS. 0.00 0.00 0.00 0.00 0.00
II) ADVANCES TO SUPPLIERS OF 0.00 0.00 0.00 0.00 0.00
CAPITAL GOODS & CONTRACTOR
III) DEFERRED RECEIVABLES 0.00 0.00 0.00 0.00 0.00
(MATURITY EXCEEDING ONE YEAR) 0.00 0.00 0.00 0.00 0.00
IV) OTHERS : 0.00 0.00 0.00 0.00 0.00
39 NON CONSUMABLE STORES & SPARES 0.00 0.00 0.00 0.00 0.00
40 OTHER NON-CURRENT ASSETS 0.00 0.00 0.00 0.00 0.00
(INCLUDING DUES FROM DIRECTORS)
41 TOTAL OTHER NON-CURRENT ASSETS 0.00 0.00 0.00 0.00 0.00
(TOTAL OF ITEM 38 TO 40).....................
42 INTANGIBLE ASSETS (PATENTS, 0.00 0.00 0.00 0.00 0.00
GOODWILL, PRELIMINARY AND
EXPENSES,BAD / DOUBTFUL DEBTS NOT
PROVIDED FOR, ETC. )..........................
43 TOTAL ASSETS 33.10 30.47 31.15 32.52 32.08
( TOTAL OF 34,37,41 & 42 )................... 0.00 0.00 0.00 0.00 0.00
44 TANGIBLE NET WORTH ( 24-42 )............ 7.38 11.96 16.77 22.12 25.58
45 NET WORKING CAPITAL [(17+24) - 3.03 3.10 6.02 9.07 14.49
(37+41+42)] TO TALLY WITH (34-10)
46 CURRENT RATIO ( ITEMS 34 / 10 ) 1.34 1.33 1.62 1.87 3.23
CURRENT RATIO ( EXCL TL INSTALLMENT) 2.81 2.64 3.05 3.36 3.23
47 a)TOL/TNW (UL as Quasi) 3.07 1.16 0.58 0.47 0.12
TOL/TNW (UL as Debt) 3.49 1.55 0.86 0.47 0.25
48 Debt Equity (UL AS QUASI) 1.87 0.38 0.00 0.00 -0.13
Debt Equity (UL AS Long term debt) 2.29 0.77 0.27 0.00 0.00
(I) ARREARS OF CUMLTV. DIVIDEND
(II) GRATUITY LIABILITY NOT PROVIDED FOR
(III) DISPUTED EXCISE/CUSTOMS/
TAX LIABILITY
(IV) OTHER LIABILITIES NOT PROVIDED FOR
 SARVAIYA KIRITKUMAR JASVANTRAI

FORM IV : COMPARATIVE STATEMENT OF CURRENT ASSETS & LIABLITIEES

Rupees in lacs
I II III IV V
Current Following Following Following Following
Year Year Year Year Year
Estimates Projection Projection Projection Projection
1 2 3 4 5
(A) CURRENT ASSETS
1 RAW MATERIALS (INCLUDING STORES
& OTHER ITEMS USED IN THE PROCESS
OF MANUFACTURE)
(a) IMPORTED 0.00 0.00 0.00 0.00 0.00
(MONTH`S CONSUMPTION).......... 0.00 0.00 0.00 0.00 0.00
(b) INDIGENOUS 0.00 0.00 0.00 0.00 0.00
(MONTH`S COUNSUMPTION)....... 0.00 0.00 0.00 0.00 0.00
2 OTHER CONSUMABLE SPARS,EXCLUDIN
THOSE INCLUDED IN 1 ABOVE
(a) IMPORTED 0.00 0.00 0.00 0.00 0.00
(MONTH`S CONSUMPTION).......... 0.00 0.00 0.00 0.00 0.00
(b) INDIGENOUS 0.00 0.00 0.00 0.00 0.00
(MONTH`S COUNSUMPTION)........
3 STOCK IN PROCESS 0.00 0.00 0.00 0.00 0.00
MONTH`S COST OF PRODUCTION..........
4 FINISHED GOODS 2.54 2.75 2.95 3.25 3.65
MONTH`S COST OF SALES..................... 0.91 0.78 0.73 0.69 0.67

5 RECEIVABLES OTHER THAN EXPORTS 5.63 6.88 7.75 8.75 10.00

& DEFERRED RECEIVABLES (INCLUDING 1.50 1.50 1.50 1.50 1.50
BILLS PURCHASED & DISCOUNTED BY
BANKERS......................................
MONTH`S DOMESTIC SALES EXCLUDING
DEFERRED PAYMENTS SALES
6 EXPORT RECEIVABLE (INC. BILLS 0.00 0.00 0.00 0.00 0.00
PURCHASED & DISCOUNTED).......
MONTH`S EXPORT SALES :
7 ADVANCES TO SUPPLIERS OF RAW MAT- 0.00 0.00 0.00 0.00 0.00
ERIALS & STORES/SPARES
CONSUMABLES..........................
8 OTHER CURRENT ASSETS INCLUDING 3.68 2.78 5.10 7.47 7.34
CASH AND BANK BALANCES &
DEFERRED RECEIVABLES DUE WITHIN
ONE YEAR ( SPECIFY MOJOR ITEMS)
9 TOTAL CURRENT ASSETS (TO AGREE 11.85 12.41 15.80 19.47 20.99
WITH ITEM 34 IN FORM III).......... 11.85 12.41 15.80 19.47 20.99
 CONTINUED

FORM -IV- COMPARATIVE STATEMENT OF

CURRENT ASSETS AND CURRENT LIABILITIES
Rupees in lacs
I II III IV V
Current Following Following Following Following
Year Year Year Year Year
Estimates Projection Projection Projection Projection
1 2 3 4 5
(B) CURRENT LIABILITIES
( OTHER THAN BANK BORROWINGS
FOR WORKING CAPITAL) 2.22 2.70 3.18 3.80 4.50

10 CREDITORS FOR PURCHASE OF RAW- 1.00 1.00 1.00 1.00 1.00

MATERIALS & CONSUMABLE SPARES....
MONTH`S PURCHASE : 0.00 0.00 0.00 0.00 0.00

11 ADVANCES FROM CUSTOMERS ........ 0.00 0.00 0.00 0.00 0.00

12 STATUTORY LIABILITIES .................... 4.60 4.60 4.60 4.60 0.00

13 OTHER CURRENT LIABILITIES

(SPECIFY MAJOR ITEMS) SHORT TERM
BORROWINGS, UNSECURED LOANS,
DIVIDEND PAYABLE, INSTALMENTS OF
TL., DPG, PUBLIC DEPOSITS,
DEBNTURE, AND .
PROVISION FOR TAXATION, VEHICLE LOANS
ETC
14 TOTAL --------------------> 6.82 7.30 7.78 8.40 4.50
( TO AGREE WITH SUB TOTAL B
FORM III) 6.82 7.30 7.78 8.40 4.50
 SARVAIYA KIRITKUMAR JASVANTRAI
FORM V : COMPUTATION OF MPBF
Rupees in lacs
I II III IV V
Current Following Following Following Following
Year Year Year Year Year
Estimates Projection Projection Projection Projection
1 2 3 4 5
1 TOTAL CURRENT ASSETS 11.85 12.41 15.80 19.47 20.99
( 9 IN FORM IV ).................................

2 OTHER CURRENT LIABILITIES 6.82 7.30 7.78 8.40 4.50

( OTHER THAN BANK BORROWING )
( 14 OF FORM IV )..............................

3 WORKING CAPITAL GAP (WCG) ( 1-2 ) 5.02 5.10 8.02 11.07 16.49

4 MIN. STIPULATED NET WORKING 2.96 3.10 3.95 4.87 5.25

CAPITAL i.e. 25% OF WCG/25% OF TOTAL
CURRENT ASSETS AS THE CASE MAY BE
DEPENDING UPON THE METHOD OF
LENDING BEING APPLIED.
(EXPORT RECEIVABLES TO BE
EXCLUDED UNDER BOTH METHODS

5 ACTUAL / PROJECTED NET WORKING 3.03 3.10 6.02 9.07 14.49

CAPITALS ( 45 IN FORM III ) .................

6 ITEMS 3 MINUS ITEM 4.......................... 2.06 2.00 4.07 6.20 11.25

7 ITEM 3 MINUS ITEM 5............................. 2.00 2.00 2.00 2.00 2.00

8 MAXIMUM PERMISSIBLE BANK FINANCE 2.00 2.00 2.00 2.00 2.00

(ITEM 6 OR 7 WHICHEVER IS LOWER)

9 EXCESS BORROWINGS REPRESENTING 0.00 0.00 0.00 0.00 0.00

SHORT FALL IN NWC ( 4-5 ).....................
 SARVAIYA KIRITKUMAR JASVANTRAI
FORM VI : FUND FLOW STATEMENT
Rupees in lacs
I II III IV V
Current Following Following Following Following
Year Year Year Year Year
Estimates Projection Projection Projection Projection
1 2 3 4 5
1 SOURCES :
(A) NET PROFIT ( AFTER TAX )… 4.88 4.59 4.81 5.35 3.46
(B) DEPRECIATION ........................... 3.75 3.19 2.71 2.30 1.96
(C) INCREASE IN CAPITAL ................ 2.50 7.38 11.96 16.77 22.12
(D) INCREASE IN TERM LIABILITIES 16.90 9.20 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
(E) INCREASE IN -SEED CAPITAL 0.00 0.00 0.00 0.00 0.00
(E) DECREASE IN
(I) FIXED ASSETS........................ 0.00 0.00 0.00 0.00 0.00
(II) OTHER NON-CURRENT ASSETS 0.00 0.00 0.00 0.00 0.00
(F) OTHERS.… ...… ( 0.00 0.00 0.00 0.00 0.00
(G) TOTAL....................................... 28.03 24.35 19.48 24.42 27.54
2 USES :
(A) NET LOSS
(B) DECRESE IN CAPITAL 0.00 0.00 0.00 0.00 0.00
(B) DECREASE IN TERM LIABILITIES 0.00 7.70 4.60 4.60 0.00
63 (INCLDG. PUBLIC DEPOSITS).......
(C) INCREASE IN
(I) FIXED ASSETS........................ 25.00 0.00 0.00 0.00 0.00
(II) NORMAL CAPTAL EXPENDITURE 0.00 0.00 0.00 0.00 0.00
(III) OTHER NON-CURRENT ASSETS 0.00 0.00 0.00 0.00 0.00
(D) TOTAL ........................................ 25.00 7.70 4.60 4.60 0.00
3 LONG TERM SURPLUS (+) / 3.03 16.65 14.88 19.82 27.54
DEFICIT (-) ( 1-2 )..............................
4 INCREASE/DECREASE IN CURRENT 11.85 12.41 15.80 19.47 20.99
ASSETS *( AS PER DETAILS GIVEN
BELOW)..........................................
5 INCREASE/DECREASE IN CURRENT 6.82 7.30 7.78 8.40 4.50
LIABILITIES OTHER THAN BANK
BORROWINGS................................

6 INCREASE/DECREASE IN WORKING 5.02 5.10 8.02 11.07 16.49

CAPITAL GAP................................
7 NET SURPLUS (+) / DEFICIT (-) -2.00 11.55 6.86 8.76 11.05
(DIFFERENCE OF 3 & 6)................

8 INCREASE/DECREASE IN BANK 2.00 2.00 2.00 2.00 2.00

BORROWINGS..............................