manjunatha briquettes
DESCRIPTION
project reportTRANSCRIPT
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PROJECT COST OF AND MEANS OF FINANCE
COST OF THE SCHEME (Rs. In lakhs)
Particulars Project cost Bank Loan Own Capital
Plant and Machinery including Tools and Equipments 20.00 15.00 5.00
Land & Building 103.00 77.25 25.75
Working capital 10.00 6.50 3.50
Total Project Cost 133.00 98.75 34.25
Means of Finance
Particulars
Promotor's Equity 34.25
Bank Term Loan 92.25
Bank Working Capital Loan 6.50
Total 133.00
STATEMENT OF INVESTMENT IN PROJECT
PARTICULARS OF ASSETS QTY PRICE AMOUNT
Land & Building
Land 23.00
Building & other civil works 80.00
Total 103.00
Plant and Machinery (as per quotation attached)
Briquette Making Machine 1
16.00 20.00Conveyors 1
Total 20.00
Working capital 10.00
Total Cost of the Project 133.00
Amount to be raised
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19.6
28.88/
16.00
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ECONOMICS OF THE PROJECTParticulars Year 1 Year 2 Year 3
16 16 16Operating capacity % 80 85 90Capacity per day ton 10.4 11.2 12
No. of working days estimated per year Days 300 300 300
Total Operating Capacity per Year Units ton 3120 3360 3600
Statement showing Production and salesYear 1 Year 2 Year 3
Production ton 3120 3360 3600Add: Opening Stock ton 0 312 336Less: Closing Stock ton 312 336 360Sales Volume ton 2808 3336 3576Average Sale Price per ton Rs. 4500 4500 4500Sales Value Rs. In Lakhs 126.36 150.12 160.92Total Sales Value 126.36 150.12 160.92
STATEMENT SHOWING VARIABLE EXPENSES PER ANNUM AT 80% CAPACITY LEVEL
QTY RATE AMOUNT
Raw Material:
Groundnut shell, Rice husk, Saw dust Ton 3120 1700 53.04
Diamond segments etc 0 0.00
Total Material consumed 53.04
Direct Labour :
Production incharge 1 8000 0.96
Machine Assistant 2 5000 1.20
Unskilled workers 10 3000 3.60
Total Wages 4.80
Power and Fuel 2.40
Repairs and Maintenance 0.75
Variable Overheads 0.50
Total Variable Expenses 61.49
STATEMENT SHOWING FIXED EXPENSES PER ANNUM (Rs. In Lakhs Ommitted)
Particulars Nos. Per Month Months Amount
Salaries 1 5000 12 0.60
Telephone Charges 5000 12 0.60
Postage and Stationery 1000 12 0.12
Travelling Expenses 5000 12 0.60
Office Maintainance 2000 12 0.24
General Expenses 2000 12 0.24
Total fixed Expenses per Annum 2.40
Installed capacity per day of per shift (8hr per shift)
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3200
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STATEMENT OF BREAK EVEN POINTA) Sales 126.36B) Variable Cost 61.49C) Contribution A-B 64.87D) Fixed Cost per annum 16.28E) BEP Sales in % D/C 25.09%F) BEP Sales in Value (D/C)*A 31.71G) BEP Sales in Volume (D/C)*NOS 783
ECONOMIC INDICATORSA) Investment in Building and Machinery 123B) Employment potential 12C) Investment per Worker 10.25
STATEMENT OF DEPRICIATION
Particulars Year1 Year2 Year3 Year4 Year5Rs. Rs. Rs. Rs. Rs.
Building 10% on WDV 8.00 7.20 6.48 5.83 5.25Machinery 25% on WDV 5.00 3.75 2.81 2.11 1.58Furniture 10% on WDVTotal Depreciation 13.00 10.95 9.29 7.94 6.83
TERMLOAN REPAYMENT SCHEDULE WITH INTEREST
Term Loan Principle Amount (Rs. In Lakhs) 92.25Rate of Interest per annum 13.50%Repayment Schedule 60 Months1st instalment dueHoliday Period 6 MonthsInstalment per Month 1.54
Instalments Principle Instalment InterestOB
92.25 1.0492.25 1.0492.25 1.0492.25 1.0492.25 1.0492.25 1.04 6.23
1 Instalment 92.25 1.54 1.042 90.71 1.54 1.023 89.18 1.54 1.004 87.64 1.54 0.995 86.10 1.54 0.976 84.56 1.54 0.957 83.03 1.54 0.938 81.49 1.54 0.929 79.95 1.54 0.9010 78.41 1.54 0.8811 76.88 1.54 0.8612 75.34 1.54 18.45 0.85 11.3113 73.80 1.54 0.8314 72.26 1.54 0.81
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15 70.73 1.54 0.8016 69.19 1.54 0.7817 67.65 1.54 0.7618 66.11 1.54 0.7419 64.58 1.54 0.7320 63.04 1.54 0.7121 61.50 1.54 0.6922 59.96 1.54 0.6723 58.43 1.54 0.6624 56.89 1.54 18.45 0.64 8.8225 55.35 1.54 0.6226 53.81 1.54 0.6127 52.28 1.54 0.5928 50.74 1.54 0.5729 49.20 1.54 0.5530 47.66 1.54 0.5431 46.13 1.54 0.5232 44.59 1.54 0.5033 43.05 1.54 0.4834 41.51 1.54 0.4735 39.98 1.54 0.4536 38.44 1.54 18.45 0.43 6.3337 36.90 1.54 0.4238 35.36 1.54 0.4039 33.83 1.54 0.3840 32.29 1.54 0.3641 30.75 1.54 0.3542 29.21 1.54 0.3343 27.68 1.54 0.3144 26.14 1.54 0.2945 24.60 1.54 0.2846 23.06 1.54 0.2647 21.53 1.54 0.2448 19.99 1.54 18.45 0.22 3.8449 18.45 1.54 0.2150 16.91 1.54 0.1951 15.38 1.54 0.1752 13.84 1.54 0.1653 12.30 1.54 0.1454 10.76 1.54 0.1255 9.23 1.54 0.1056 7.69 1.54 0.0957 6.15 1.54 0.0758 4.61 1.54 0.0559 3.08 1.54 0.0360 1.54 1.54 6.13 0.02 1.35
92.25 37.88
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525001.5375
1.5375
18.45
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0.00375375
28.886.13
35.017.002
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TERM LOAN REPAYMENT SCHEDULE WITH INTEREST AND CASH CREDIT PER ANNUM (IT IS
ASSUMED THAT TERM LOAN OF Rs. 92.25Lakhs WILL BE REPAID IN 60 MONTHLY
INSTALLMENTS WITH INTEREST AT 13.5 % PA)
PARTICULARS Const Year 1 Year 2 Year 3 Year 4 Year 5
No of Months Paid 6 12 12 12 12 12
(A) Amount Paid in each year 18.45 18.45 18.45 18.45 6.13
(Rs. 92.25/60)*12
Interest at 13.50% PA 6.23 11.31 8.82 6.33 3.84 1.35
Interest on Working Capital
at 13.50% PA on Rs. 6,50,000 0.88 0.88 0.88 0.88 0.88
(B) Total Interest Paid PA 6.23 12.19 9.70 7.21 4.72 2.23
Total Interest and Principal
Paid to Bank PA (A+B) 6.23 30.64 28.15 25.66 23.17 8.36
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PROJECTED COST OF PRODUCTION AND PROFITABILITY STATEMENT AT 65% CAPACITYLEVEL
PARTICULARS AMOUNT AMOUNT
SALES A 126.36Less : Cost of ProductionRaw material consumed 53.04Wages 4.80Power and fuel 2.40Repairs and Maintenance 0.75Variable overheads 0.50Cost of Production B 61.49Less : Finished Goods 3.07Cost of Goods Sold 58.42 58.42
Gross Profit 67.94
Less : Selling and Administrative Expenses
Salaries 0.60Telephone Charges 0.60Postage and Stationery 0.12Travelling Expenses 0.60Office Maintanence 0.24General Expenses 0.24Depreciation 13.00Total selling and Administrative Exp 15.40 15.40Cost of Sales 76.89
Net Profit Before Interest and Tax 52.54Less : Intereston term loan 11.31on working capital loan 0.88Total Interest Paid to Bank 12.19 12.19
Net Profit Before Tax 40.35Less : Income Tax Paid 12.11 12.11Net Profit After Tax 28.25
STATEMENT SHOWING WORKING CAPITAL REQUIREMENT
PARTICULARS Amount Days AmountFinished Goods (on cost of production) 61.49 15 3.07Raw materials (on consumption) 53.04 30 5.30Total Working Capital Required 8.38
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1970.833614900
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PROJECTED COST OF PRODUCTION AND PROFITABILITY STATEMENT
PARTICULARS Year 1 Year 2 Year 3 Year 4 Year 5
Capacity level % 65 70 75 75 75
(1) Sales (A) 126.36 150.12 160.92 160.92 160.92
Cost of Sales
Purchase of Raw materials 58.34 64.18 70.60 70.60 70.60
Add: Opening Stock of RM 0.00 5.30 5.30 5.30 5.30
Less : Closing Stock of RM 5.30 5.30 5.30 5.30 5.30
Raw Material Consumed 53.04 64.18 70.60 70.60 70.60
Wages 4.80 5.28 5.81 6.39 7.03
Power and Fuel 2.40 2.64 2.90 3.19 3.51
Repairs and Maintenance 0.75 0.83 0.91 1.00 1.10
Variable Overheads 0.50 0.55 0.61 0.67 0.73
(2) Sub Total Cost of Production (B) 61.49 73.47 80.82 81.84 82.97
Add : Opening Stock of FG 0.00 6.15 6.15 6.15 6.15
Less : Closing Stock of FG 6.15 6.15 6.15 6.15 6.15
Cost of Goods sold 55.34 73.47 80.82 81.84 82.97
(3) Gross Profit 71.02 76.65 80.10 79.08 77.95
Selling, General Admin. Exp.
Salaries 0.60 0.66 0.73 0.73 0.73
Telephone Charges 0.60 0.66 0.73 0.73 0.73
Postage and Stationery 0.12 0.13 0.15 0.15 0.15
Travelling Expenses 0.60 0.66 0.73 0.73 0.73
Office Maintanance 0.24 0.26 0.29 0.29 0.29
General Expenses 0.24 0.26 0.29 0.29 0.29
Depriciation 13.00 14.30 15.73 15.73 15.73
Interest on Term Loan and WC 12.19 13.41 14.75 14.75 14.75
(4) Sub Total 27.59 30.35 33.38 33.38 33.38
Operating Profit (3-4) 43.43 46.30 46.72 45.69 44.57
Add : Other Income 0.00 0.00 0.00 0.00 0.00
Less : Other expenses 0.00 0.00 0.00 0.00 0.00
Profit Before Tax 43.43 46.30 46.72 45.69 44.57
Income Tax Paid 13.03 13.89 14.01 13.71 13.37
Net Profit after Tax 30.40 32.41 32.70 31.99 31.20
Add : Depreciation 13.00 10.95 9.29 7.94 6.83
Cash Accruals 43.40 43.36 41.99 39.93 38.03
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ANALYSIS OF PROJECTED BALANCE SHEET(Rs. In Lakhs)
Year 1 Year 2 Year 3 Year 4 Year 5LIABILITIES
Current Liabilities :Our Bank 6.50 6.50 6.50 6.50 6.50Other Banks 0.00 0.00 0.00 0.00 0.00Sundry Creditors 0.00 0.00 0.00 0.00 0.00Misc. Creditors 0.00 0.00 0.00 0.00 0.00Expenses 0.00 0.00 0.00 0.00 0.00Others 0.00 0.00 0.00 0.00 0.00(1) Sub Total 6.50 6.50 6.50 6.50 6.50
Term LiabilitiesOur Bank 73.80 55.35 36.90 18.45 0.00Other Banks, APSFC 0.00 0.00 0.00 0.00 0.00Loans from friends & relatives 0.00 0.00 0.00 0.00 0.00Others (specify), Unsecured loans 0.00 0.00 0.00 0.00 0.00(2) Sub Total 73.80 55.35 36.90 18.45 0.00
Capital & ReservesCapital 34.25 64.65 97.06 129.76 161.75(Opening of capital)Add Profit 30.40 32.41 32.70 31.99 31.20Add : Additional capital if anyLess drawings 0.00 0.00 0.00 0.00 0.00Genral reserves 0.00 0.00 0.00 0.00 0.00Others if any 0.00 0.00 0.00 0.00 0.00(3) Sub Total 64.65 97.06 129.76 161.75 192.94
Total (1+2+3) 144.95 158.91 173.16 186.70 199.44
ASSETSCurrent AssetsCash 28.80 53.71 77.25 98.73 130.63Bank BalancesClosing Stock 6.15 6.15 6.15 6.15 6.15Sundry Debtors 0.00 0.00 0.00 0.00 0.00Advance to suppliers(4) Sub Total 34.95 59.86 83.40 104.88 136.78
Fixed AssetsLand & Buildings 95.00 87.80 81.32 75.49 70.24Plant & Machinery and tools 15.00 11.25 8.44 6.33 4.75Furniture etc. 0.00 0.00 0.00 0.00 0.00Others deposits if any 0.00 0.00 0.00 0.00 0.00(5) Sub Total 110.00 99.05 89.76 81.82 74.99Power deposit 0.00 0.00 0.00 0.00 0.00Total (4+5) 144.95 158.91 173.16 186.70 211.76Liquid Surplus (4-1) 28.45 53.36 76.90 98.38 130.28Deficit (1-4) -28.45 -53.36 -76.90 -98.38 -130.28
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0.000
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PROJECTED CASH FLOW STATEMENT(Rs. In Lakhs)
Particulars Const. Year 1 Year 2 Year 3 Year 4Cash from OperationsNet profit before Tax 43.43 46.30 46.72 45.69Add : Depreciation 13.00 10.95 9.29 7.94Add : Interest on Loan 12.19 9.70 7.21 4.72Cash Generated from Operations 68.62 66.95 63.22 58.35Less : Tax Paid 13.03 13.89 14.01 13.71
55.59 53.06 49.20 44.64Increase in sundry dehbtors 0.00 0.00 0.00 0.00Increase in Closing Stock -6.15 0.00 0.00 0.00Advance to suppliers 0.00 0.00 0.00 0.00Decrease in Sundry Creditors 0.00 0.00 0.00 0.00Decrease in Sundry debtors 0.00 0.00 0.00 0.00Decrease in stock 0.00 0.00 0.00 0.00Increase in sundry creditos 0.00 0.00 0.00 0.00Change in Working Capital (B) -6.15 0.00 0.00 0.00Net Cash from Operations (A-B) = C 49.44 53.06 49.20 44.64
Cash from investing activitiesLand and Buildings -103.00 0.00 0.00 0.00 0.00Furniture 0.00 0.00 0.00 0.00 0.00Purchase of Plant and Machinery -20.00 0.00 0.00 0.00 0.00Deposits 0.00 0.00 0.00 0.00 0.00
-123.00 0.00 0.00 0.00 0.00Cash from Financing ActivitiesCapaital Account 30.75 3.50 0.00 0.00 0.00Unsecured Loans 0.00 0.00 0.00 0.00 0.00Bank Cash Credit 0.00 6.50 0.00 0.00 0.00Bank Term Loan 92.25 0.00 0.00 0.00 0.00Interest Paid -12.19 -9.70 -7.21 -4.72Repayment of TL -18.45 -18.45 -18.45 -18.45Repayment of Unsecured Loans 0.00 0.00 0.00 0.00Drawings 0.00 0.00 0.00 0.00
123.00 -20.64 -28.15 -25.66 -23.17
Net Increase in Cash (C+D+E) 28.80 24.91 23.54 21.48Add : Opening Balance 0.00 28.80 53.71 77.25Closing Cash/Bank Balance 28.80 53.71 77.25 98.73
Operating profit before working capital Changes (A)
Net Cash from Investing operations (D)
Net Cash from Financing Activities (E)
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(Rs. In Lakhs)Year 5
44.576.832.23
53.6313.37
40.260.000.000.000.000.000.000.000.00
40.26
0.000.000.000.00
0.00
0.000.000.000.00
-2.23-6.130.000.00
-8.36
31.9098.73
130.63
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DEBT SERVICE COVERAGE RATIO
Particulars Year 1 Year 2 Year 3 Year 4 Year 5
Net Profit after Tax 30.40 32.41 32.70 31.99 31.20
Add : Depreciation 13.00 10.95 9.29 7.94 6.83
Add : Interest 12.19 9.70 7.21 4.72 2.23
Cash Available (A) 55.59 53.06 49.20 44.64 40.26
Repayment of Unsecured Loans 0.00 0.00 0.00 0.00 0.00
Repayment of Term Loan 18.45 18.45 18.45 18.45 18.45
Interest on Loan 12.19 9.70 7.21 4.72 2.23
Debt Obligation (B) 30.64 28.15 25.66 23.17 20.68
DSCR (A/B) 1.81 1.88 1.92 1.93 1.95
Average DSCR 1.90
ANALYSIS OF PROJECTED FUNDS FLOW STATEMENT
Particulars Const. Year 1 Year 2 Year 3 Year 4 Year 5
SOURCES OF FUNDS
Capital 30.75 3.50 0.00 0.00 0.00 0.00
Profit after Tax 30.40 32.41 32.70 31.99 31.20
Depreciation 13.00 10.95 9.29 7.94 6.83
Unsecured Loans 0.00 0.00 0.00 0.00 0.00
Loans from Relatives and Friends 0.00 0.00 0.00 0.00 0.00
Bank Term Loan 92.25 0.00 0.00 0.00 0.00 0.00
Decrease in Working Capital 0.00 0.00 0.00 0.00 0.00
TOTAL 123.00 46.90 43.36 41.99 39.93 38.03
Repayment of Unsecured Loan 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
Repayment of Bank Loan 18.45 18.45 18.45 18.45 18.45
Increase in Working Capital 28.45 24.91 23.54 21.48 19.58
Deposits
Purchase of Fixed Assets 123.00 0.00 0.00 0.00 0.00 0.00
Power Deposit 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of Loans from Relatives and friends
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TOTAL 123.00 46.90 43.36 41.99 39.93 38.03
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ASSESSED BANK FINANCEYear 1 Year 2 Year 3 Year 4 Year 5
Total Current Assets (TCA) 34.95 59.86 83.40 104.88 136.78
Other Curent Liabilities (Except Bank Borrowings) 0.00 0.00 0.00 0.00 0.00
Working Capital Gap 34.95 59.86 83.40 104.88 136.78
Net Working Capital (NWC) (Actual Projections) 28.45 53.36 76.90 98.38 130.28
Assessed Bank Finance 10.00 10.00 10.00 10.00 10.00
NWC to TCA (%) 81.40% 89.14% 92.21% 93.80% 95.25%
Working Capital to Turnover Ratio 4.44 2.81 2.09 1.64 1.24
Other CL to TCA (%) 0.00% 0.00% 0.00% 0.00% 0.00%
Sundry Creditors to TCA (%) 0.00% 0.00% 0.00% 0.00% 0.00%
Inventory to Net Sales (days) 18 15 14 14 14
Total Outstanding Loan (Inclusive of Bank Loans) 80.30 61.85 43.40 24.95 6.50
Paid up Capital 64.65 97.06 129.76 161.75 192.94
Total Net Worth (TNW) 64.65 97.06 129.76 161.75 192.94
TOL/TNW 1.24 0.64 0.33 0.15 0.03
Current Ratio 5.38 9.21 12.83 16.14 21.04
Liquidity Ratio 18.78 15.80 14.74 14.74 14.74
PBT 43.43 46.30 46.72 45.69 44.57
PAT 30.40 32.41 32.70 31.99 31.20
PBIT 31.24 32.89 31.97 30.94 29.82
PBDIT 68.62 66.95 63.22 58.35 53.63
PBT/Net Sales (%) 34.37% 30.84% 29.03% 28.40% 27.70%
PAT/Net Sales (%) 24.06% 21.59% 20.32% 19.88% 19.39%
PBDIT/Interest (times) 5.63 6.90 8.77 12.37 24.08
ROI (Return on Investment) 27.27% 53.18% 73.66% 124.02% 458.76%
Pay back period (in years) 3.67
Total Tangiable Assets 110.00 99.05 89.76 81.82 74.99
Net Sales/Total Tangible Assets (times) 1.15 1.52 1.79 1.97 2.15
PBT/Total Tangible Assets (%) 39.48% 46.74% 52.05% 55.85% 59.44%
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COMPUTATION OF WORKING CAPITAL UNDER TADITIONAL METHOD(Rs. In Lakhs)
Estimated Sales per Annum 126.36
Sales per month 10.53
Cost of production per month 6.15
Cost of Raw Material per month 5.30
ITEM Margin % Mar. Value PBF
Raw Material 30 6.66 25 1.67 5.00
Finished Goods 15 7.00 25 1.75 5.25
TOTAL 13.66 3.42 10.25
Maximum Working Capital Required A 13.66
Less : Opening Working Capital C 3.42
Less : Sundry Creditors D 0.00
Working Capital Required A-(C+D)=E 10.25
Permissible Working Capital B 10.25
Working Capital Recommended 10.00
Stocking days
WC Required