Cold storage Project

Goyal & AssociatesIn front P.N.B., PACHORE- 465683Distt.-Rajgarh (Biaora) M.P.: 97523 94354/ 98269 08751Email: [email protected]@yahoo.co.in

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGISTICS-JORA (JAISINGH NAGAR)

LIST OF ANNEXURES

S. No. DESCRIPTION

1 COST OF THE PROJECT & MEANS OF FINANCE

2

3 DETAILS OF MISC. FIXED ASSETS

4 DETAILS OF PRE-OPERATIVE EXPENSES

5 ESTIMATES OF PROBABLE PROFITS

6 PROJECTED REVENUE REALISATION

7 MANPOWER AND ANNUALSALARIES

8 ESTIMATES OF ANNUAL POWER, WATER AND FUEL EXPENSES

9 ESTIMATES OF ANNUAL REPAIR & MAINTENANCE EXPENSES

10 ESTIMATES OF FINANCIAL CHARGES

11 ESTIMATES OF DEPRECIATION

12 COMPUTATION OF INCOME TAX LIABILITY

13 ESTIMATION OF DEBT SERVICE COVERAGE RATIO

14 PROJECTED CASH FLOW STATEMENT

15 PROJECTED BALANCE SHEET STATEMENT

16 YEAR WISE BREAK EVEN ANALYSIS

17 ESTIMATES OF INTERNAL RATE OF RETURN

18 IMPORTANT RATIOS / KEY FINANCIAL PARAMETERS

19 CMA DATA

ESTIMATES OF LAND, SITE DEVELOPMENT, BULDING AND OTHER CIVIL WORKS

Goyal & AssociatesIn front P.N.B., PACHORE- 465683Distt.-Rajgarh (Biaora) M.P.: 97523 94354/ 98269 08751Email: [email protected]@yahoo.co.in

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGISTICS-JORA (JAISINGH NAGAR)

LIST OF ANNEXURES

ANNEXURE No.

ANNEXURE-A

ANNEXURE-B

ANNEXURE-C

ANNEXURE-D

ANNEXURE-E

ANNEXURE-F

ANNEXURE-G

ANNEXURE-H

ANNEXURE-I

ANNEXURE-J

ANNEXURE-K

ANNEXURE-L

ANNEXURE-M

ANNEXURE-N

ANNEXURE-O

ANNEXURE-P

ANNEXURE-Q

ANNEXURE-R

ANNEXURE-S

M/s: GURUKRIPA COLD STORAGE, WAREHOUSE AND LOGISTICS-JORA (JAISINGH NAGAR)

Goyal & Associates

ANNEXURE - A

COST OF THE PROJECT & MEANS OF FINANCE

S.No. DESCRIPTION

A. COST OF PROJECTA.1 LANDA.2 BUILDING & SITE DEVELOPMENT

COLD STORAGE (5390 MT) 180.00

Total Cost of Construction 180.00A.3 MISC. FIXED ASSETSA.4 CONTENGENCIES @ 1% 4.00A.5 PRE-OPERATIVE EXP. 28.32

TOTAL (A)

B. MEANS OF FINANCEB.1 EQUITY :B.1.a PROMOTER CONTRIBUTION 17%B.2 DEBT :B.2.a SUBSIDY FROM NHM/NHB 41%

(Maximum Subsidy restricted Rs.120.00 lacs)Susidy From Central Govt. @ 55%for notified scheduled area of Govt. of Rs. 165.00 lacs

B.2.b TERM LOAN FROM BANK 42%(From SFCA/Venture Capital Fund)

TOTAL (B1+B2)

DEBT EQUITY RATIO 4.80We are avail facility of Govt. of India, “VENETURE CAPITAL SCHEME FOR AGRIBUSINEE DEVLOPMENT” as under-Small farmer’s Agri-Business Consortium (SFCA) would provide venture capital to qualifying projects on the recommendations of the bank financing the project.(SUBSIDY: 5000 MT @ 6000/- PMT = Rs. 300.00 LACS @ 55% SUBSIDY Rs. 165.00 LACS.)


Goyal & Associates

ANNEXURE - A

COST OF THE PROJECT & MEANS OF FINANCE(Rs. in lacs.)

AMOUNT

OWNED180.00

220.00

400.00

69.00

165.00

166.00

400.00

We are avail facility of Govt. of India, “VENETURE CAPITAL SCHEME

Small farmer’s Agri-Business Consortium (SFCA) would provide venture capital to qualifying projects on the recommendations of the bank financing the project.(SUBSIDY: 5000 MT @ 6000/- PMT = Rs. 300.00 LACS @ 55% SUBSIDY Rs. 165.00 LACS.)


Goyal & Associates

ANNEXURE - B

ESTIMATES OF LAND, SITE DEVELOPMENT, BUILDING OF COLD STORAGE

(Figures in lacs.)

S.No. DESCRIPTION WITH SPECIFICATION SIZE

LENGTH WIDTH(IN MTRS.)

1 LAND OWNED2 SITE DEVELOPMENT 7.00

2 BUILDING & OTHER CIVIL WORKS

Chambers (Four) with RCC Racks 105.00

Verandah Loading Unloading 17.00

Machine Room 7.00

Hammal Quarters and Office 7.00

Total Estimated Cost of Construction 136.00

Add: Cost of Wodden Log Structure 37.00

Total Estimated Cost of Buildings 173.00

TOTAL OF ANNEXURE--B 180.00

AREA IN SQMTRS.

RATE/UNIT

TOTAL AMOUNT


Goyal & Associates

ANNEXURE - C

DETAILS OF PLANT & MACHINERY WITH MISC. FIXED ASSETS(Ancillary Trading Facilities as per scheme)

(Figures in lacs.)

S.No. DESCRIPTION WITH SPECIFICATION

(A) PLANT & MACHINERY : (As per quotation)

1 Plant & Machineries2 Industrial Electrification3 Insulation Work

TOTAL (A)

(B) Other Misc. Fixed Assets :

1 Power Back-up including installation (DG Set 160 KVA)2 Matrial Lift

TOTAL (B)

TOTAL ASSETS (A+B)


Goyal & Associates

ANNEXURE - C

DETAILS OF PLANT & MACHINERY WITH MISC. FIXED ASSETS(Ancillary Trading Facilities as per scheme)

(Figures in lacs.)

TOTAL AMOUNT

91.0015.00

101.00207.00

8.005.00

13.00

220.00


Goyal & Associates

ANNEXURE - D

DETAILS OF PRE-OPERATIVE EXPENSES

(Figures in lacs.)S.No. PARTICULARS TOTAL AMOUNT

1 Consultancy Fee 0.502 Interest During Construction Period 23.073 Testing & Trial Run Expenses 0.25

4 Salary During Construction Period 1.00

5 Deposits and Margins 3.50

TOTAL 28.32

TOTAL PRE-OPERATIVE EXPENSES 28.32

ACTUAL PRE-OP. EXP. (ADJUSTED WITH PROFIT IN 5.66NEXT 5 YEARS)


Goyal & Associates

ANNEXURE - E

PROFITABILITY PROJECTIONS(SUBSISY NOT CONSIDERED PART OF DEBT)

PARTICULARS O P E R A T I N G Y E A R S1st YEAR 2nd YEAR 3rd YEAR 4th YEAR 5th YEAR 6th YEAR2014-15 2015-16 2016-17 2017-18 2018-19 2019-20

INSTALLED CAPACITY (MT/Annum) 5390 5390 5390 5390 5390 5390STORAGE OF DIFF. SPICES, VEGITABLES, FRUITS

STORAGE CAPACITY UTILISATION 75% 75% 80% 80% 85% 85%AS % OF TOTAL CAPACITY

ESTIMATED STORAGE (MT/Annum)- 145.53 145.53 155.23 155.23 164.934 164.934RENTAL COLLECTIBLE

TOTAL INCOME 145.53 145.53 155.23 155.23 164.93 164.93

OPERATING EXPENSES :AMMONIA COST & FREEZE OIL 0.30 0.32 0.35 0.37 0.41 0.43POWER COST 7.93 8.17 8.98 9.25 10.12 10.42SALARY & WAGES 6.00 6.60 7.26 7.99 8.78 9.66REPAIRS & MAINTANANCE 0.40 0.44 0.48 0.53 0.59 0.64INSURANCE 0.50 0.50 0.50 0.50 0.50 0.50SUB TOTAL 15.13 16.03 17.57 18.64 20.40 21.66ADMINISTRATIVE EXPENSES 0.30 0.33 0.36 0.40 0.44 0.48TOTAL OPERATIVE EXPENCES (B) 15.43 16.36 17.94 19.03 20.84 22.15

OPERATING PROFIT (A-B) 130.10 129.17 137.29 136.20 144.09 142.79

INTEREST ON TERM LOAN 37.59 31.92 26.24 20.57 14.90 9.22DEPRIECIATION 51.00 44.25 38.42 33.39 29.04 25.27PRE. EXP. (WRITTEN OFF) 0.00 0.00 0.00 0.00 0.00 0.00

SUB TOTAL 88.59 76.17 64.67 53.96 43.93 34.49

NET PROFIT BEFORE TAX (NPBT) 41.50 53.01 72.63 82.24 100.16 108.29

TAX LIABILITY 7.80 10.10 14.03 15.95 19.53 21.16

NET PROFIT AFTER TAX (NPAT) 33.70 42.90 58.60 66.29 80.63 87.14

ADD: DEPRECIATION (WDV) 51.00 44.25 38.42 33.39 29.04 25.27

CASH AVAILABLITY FOR LIQUDATION- 84.70 87.15 97.03 99.68 109.66 112.41 OF LOANS

DSCR 1: 2.10 3.25 1.50 1.68 1.77 2.00 2.15

AVERAGE DSCR 2.10

B.E.P. 63% 51%

DIVIDEND/WIDRAWALS 10.11 12.87 17.58 19.89 24.19 26.14

RESERVE & SURPLUS 23.59 53.63 94.65 141.05 197.49 258.49


Goyal & Associates

ANNEXURE - E

PROFITABILITY PROJECTIONS(SUBSISY NOT CONSIDERED PART OF DEBT)

(Figures in lacs.)O P E R A T I N G Y E A R S

7th YEAR2020-21

5390

85%

164.934

164.93

0.4610.7410.630.710.50

23.030.53

23.56

141.37

3.5522.010.00

25.56

115.81

22.66

93.15

22.01

115.16

2.34

27.95

323.69


Goyal & Associates

ANNEXURE - F

PROJECTED REVENUE REALISATION

Total Storage Capicity of the Cold Storage - 5390 Tonnes

(Figures in lacs.)

S.No. PARTICULARS

1 Vegetables, Fruits & 100% 5390 300.00

Potot etc.

5390

Storage Space (%)

Storage in Tonnes

Rate/Tonnes (Rs.)

REVENUE AT 100% CAPACITY UTILIZATION OF THE AVAILABLE STORAGE (Chamberwise)


Goyal & Associates

ANNEXURE - F

PROJECTED REVENUE REALISATION

Total Storage Capicity of the Cold Storage - 5390 Tonnes

(Figures in lacs.)

194.04

194.04

Rental Income


Goyal & Associates

ANNEXURE - G

MANPOWER AND ANNUAL SALARIES

(Figures in lacs.)

S.No. CATEGORY

1 Manager 1 12000 0.1202 Plant Operators 1 10000 0.1003 Helpers/Assistants 1 7000 0.0704 Accountants 1 6000 0.0605 Other Adminstrative Staff 1 5000 0.0506 Security Staff 2 5000 0.100

TOTAL 7 45000 0.50

TOTAL MANPOWER COST/ANNUM 0.50

NOS. REQUIRED

SALARY/MONTH

MONTHLYL SALARY


Goyal & Associates

ANNEXURE - G

MANPOWER AND ANNUAL SALARIES

1.441.200.840.720.601.20

6.00

6.00

ANNUAL SALARY


Goyal & Associates

ANNEXURE - H

ESTIMATES OF ANNUAL POWER, WATER AND FUEL EXPENSES(Figures in lacs.)

S.No. DESCRIPTION AMOUNT

A. POWERA.1 TOTAL POWER LOAD 100 75A 2. UTILISATION (KWH) 40A 3. LOAD FACTOR 70%A 4. HOURS OF OPERATION PER DAY 18A 5. TOTAL POWER CONSUMPTION PER DAY (KWH) 504A 6. DAYS OF OPERATION 365A 7. TOTAL POWER CONSUMPTION PER ANNUM (UNITS) 183960A.6 ANNUAL PERCENTAGE INCREASE IN POWER COST 3%

B. USES OF POWR ELECT. BOARD

USAGES OF POWER 75.00% 25.00% 100.00%UNITS SUPPLIED 137970 45990 183960COST PER UNIT (IN Rs.) 5.50 6.50ANNUAL POWER COST 7.59 2.99

10.58

Power Cost at 100% Capacity Utilisation (In Rs Lakhs)

Year 1 10.58Year 2 10.90Year 3 11.22Year 4 11.56Year 5 11.91Year 6 12.26Year 7 12.63Year 8 13.01Year 9 13.40

CONNECTED H.P.

LOAD IN K.W.

GENSET POWER

TOTAL POWER

TOTAL POWER EXP. PER ANNUM AT 100% CAPACITY


Goyal & Associates

Year 10 13.80


Goyal & Associates

ANNEXURE - I

ESTIMATES OF ANNUAL REPAIR & MAINTENANCE EXPENSES(Figures in lacs.)

S.No. DESCRIPTION AMOUNT

A. BUILDINGS1st YEAR 180.00 0.1% 0.182nd YEAR 180.00 0.1% 0.183rd YEAR 180.00 0.1% 0.184th YEAR & ONWARDS 180.00 0.1% 0.18

B. MACHINERY 1st YEAR 220.00 0.1% 0.222nd YEAR 220.00 0.1% 0.223rd YEAR 220.00 0.1% 0.224th YEAR & ONWARDS 220.00 0.1% 0.22

1st YEAR 0.402nd YEAR 0.403rd YEAR 0.404th YEAR & ONWARDS 0.40

TOTAL EXP. PER ANNUM AT 100% CAPACITY (A+B)


Goyal & Associates

ANNEXURE - J

ESTIMATES OF FINANCIAL CHARGES(Figures in lacs.)

TERM LOAN Rs. 331.00 RATE OF INTEREST @ 12.00%INTEREST CHARGE IN MONTHLY BASIS

INTEREST

S.No. YEAR/QTR. INSTALMENTS QTLY. ANNUAL

1 I 100.00 0.00 100.00 3.00(2013-14) II 200.00 0.00 200.00 6.00

(CONT. III 331.00 0.00 331.00 9.93PERIOD) IV 331.00 0.00 331.00 9.93

0.00 28.86 28.862 I 331.00 11.82 319.18 9.93

(2014-15) II 319.18 11.82 307.36 9.58III 307.36 11.82 295.54 9.22IV 295.54 11.82 283.71 8.87

47.29 37.59 37.593 I 283.71 11.82 271.89 8.51

(2015-16) II 271.89 11.82 260.07 8.16III 260.07 11.82 248.25 7.80IV 248.25 11.82 236.43 7.45

47.29 31.92 31.924 I 236.43 11.82 224.61 7.09

(2016-17) II 224.61 11.82 212.79 6.74III 212.79 11.82 200.96 6.38IV 200.96 11.82 189.14 6.03

47.29 26.24 26.245 I 189.14 11.82 177.32 5.67

(2017-18) II 177.32 11.82 165.50 5.32III 165.50 11.82 153.68 4.97IV 153.68 11.82 141.86 4.61

47.29 20.57 20.576 I 141.86 11.82 130.04 4.26

(2018-19) II 130.04 11.82 118.21 3.90III 118.21 11.82 106.39 3.55IV 106.39 11.82 94.57 3.19

47.29 14.90 14.907 I 94.57 11.82 82.75 2.84

(2019-20) II 82.75 11.82 70.93 2.48III 70.93 11.82 59.11 2.13IV 59.11 11.82 47.29 1.77

47.29 9.22 9.228 I 47.29 11.82 35.46 1.42

(2020-21) II 35.46 11.82 23.64 1.06III 23.64 11.82 11.82 0.71IV 11.82 11.82 0.00 0.35

47.29 3.55 3.55

OPENING BLANACE

CLOSING BALANCE


Goyal & Associates

TOTAL 331.00 172.85 172.85


Goyal & Associates

ANNEXURE - K

ESTIMATES OF DEPRECICATION(Figures in lacs.)

S.No. PARTICULARS

1 ESTIMATED COSTS 180.00 220.00 400.002 CONTINGENCIES @ 1.0% 1.80 2.20 4.00

TOTAL 181.80 222.20 404.00

A)

RATE OF DEPRECIATON 10.00% 15.00%

AMOUNT PER YEAR 18.18 33.33 51.51

B)

RATE OF DEPRECIATION 10% 15% TOTAL DEP.

DEPRECIATION DURING YEARSI 18.18 33.33 51.51II 16.36 28.33 44.69III 14.73 24.08 38.81IV 13.25 20.47 33.72V 11.93 17.40 29.33VI 10.74 14.79 25.52VII 9.66 12.57 22.23VIII 8.70 10.68 19.38IX 7.83 9.08 16.91X 7.04 7.72 14.76XI 6.34 6.56 12.90

BUILDING & SITE DEV.

OTHER ASSETS PLANT & MECH.

TOTAL ASSETS

DEP. WITH STRAIGHT LINE METHOD (SLM)

DEP. WITH WRITTEN DOWN VALUE METHOD (WDV)


Goyal & Associates

ANNEXURE - K

ESTIMATES OF DEPRECICATION(Figures in lacs.)


Goyal & Associates

ANNXURE- K (1)

DEPRECIATION SCHEDULE AS PER IT PURPOSE (WDV)(Figures in lacs.)

ASSETS COSTS RATE 1st YEAR 2nd YEAR 3rd YEAR 4th YEAR 5th YEAR 6th YEAR

BUILDING 180.00 10.00%

GROSS BLOCK 180.00 162.00 145.80 131.22 118.10 106.29DEPRECIATION 18.00 16.20 14.58 13.12 11.81 10.63NET BLOCK 162.00 145.80 131.22 118.10 106.29 95.66

PLANT & MACHINERY 220.00 15.00%

GROSS BLOCK 220.00 187.00 158.95 135.11 114.84 97.62DEPRECIATION 33.00 28.05 23.84 20.27 17.23 14.64NET BLOCK 187.00 158.95 135.11 114.84 97.62 82.97

TOTAL DEPRECIATION 51.00 44.25 38.42 33.39 29.04 25.27

ACCUMALATED DEPRECIATIION 51.00 95.25 133.67 167.06 196.10 221.37


Goyal & Associates

ANNXURE- K (1)

DEPRECIATION SCHEDULE AS PER IT PURPOSE (WDV)(Figures in lacs.)

7th YEAR

95.669.57

86.09

82.9712.4570.53

22.01

243.38


Goyal & Associates

ANNEXURE - L

COMPUTATION OF INCOME TAX LIABILITY(Figures in lacs.)

S.No. PARTICULARS O P E R A T I N G Y E A R SI II III IV V VI

1 PROFIT BEFORE TAX (NPBT) 41.50 53.01 72.63 82.24 100.16 108.29

2 BALANCE 41.50 53.01 72.63 82.24 100.16 108.29

3 LESS : B\F LOSSES 0 0 0 0 0 0

4 NET BALANCE 41.50 53.01 72.63 82.24 100.16 108.29

5 DEDUCTION

5.1 UNDER SEC 80 I @ 20% 8.30 10.60 14.53 16.45 20.03 21.665.2 UNDER SEC 80 HH 0 0 0 0 0 0

TOTAL 8.30 10.60 14.53 16.45 20.03 21.66

6 NET TAXABLE INCOME 33.20 42.40 58.10 65.79 80.13 86.64

7 TAX APPLICABLE @ 7.80 10.10 14.03 15.95 19.53 21.16OF 25%


Goyal & Associates

ANNEXURE - L

COMPUTATION OF INCOME TAX LIABILITY(Figures in lacs.)

O P E R A T I N G Y E A R SVII

115.81

115.81

0

115.81

23.160

23.16

92.65

22.66


Goyal & Associates

ANNEXURE - M

ESTIMAITON OF DEBT SERVICE COVERAGE RAITO(Figures in lacs.)


A. SERVICES :

1 NET PROFIT AFTER TAX 33.70 42.90 58.60 66.29 80.63 87.14

2 DEPRECIATION (WDV) 51.00 44.25 38.42 33.39 29.04 25.27

3 INTEREST ON TERM LOAN 37.59 31.92 26.24 20.57 14.90 9.22

4 PRELIMINARY EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00

TOTAL 122.30 119.07 123.27 120.25 124.56 121.63

B. DEBT :

1 INSTALMENT OF TERM LOAN 0.00 47.29 47.29 47.29 47.29 47.29


TOTAL 37.59 79.20 73.53 67.86 62.18 56.51

C. DEBT SERVICE COVERAGE RATIO 3.25 1.50 1.68 1.77 2.00 2.15

D. AVERAGE D.S.C.R. 2.10


Goyal & Associates

ANNEXURE - M

ESTIMAITON OF DEBT SERVICE COVERAGE RAITO(Figures in lacs.)


93.15

22.01

3.55

0.00

118.71

47.29

3.55

50.83

2.34


ANNEXURE - N

PROJECTED CASH FLOW STATEMENT(Figures in lacs.)

S.No. PARTICULARS CONST. O P E R A T I N G Y E A R SPERIOD I II III IV V VI

A. SOURCE OF FUND

1 NET PROFIT BEFORE TAX & INTT. 79.10 84.92 98.87 102.81 115.06 117.52

2 PROMOTER CONTRIBUTION 69.00 0 0 0 0 0 0

3 TERM LOAN (INCLUDING SUBSIDY) 331.00 0 0 0 0 0 0

5 DEPRECIATION 51.00 44.25 38.42 33.39 29.04 25.27

6 APPORTION OF PRELIMINARY EXP. 0.00 0.00 0.00 0.00 0.00 0.00

TOTAL 400.00 130.10 129.17 137.29 136.20 144.09 142.79

B. APPLICATION OF FUNDS

1 GROSS BLOCK 400.00 0 0 0 0 0 0

2 INCOME IN CURRNET ASSETS 0 0 0 0 0 0

3 REPAYMENT ON TERM LOAN 0.00 47.29 47.29 47.29 47.29 47.29


5 INTEREST ON WORKING CAPITAL 0 0 0 0 0 0

6 TAX LIABILITY 7.80 10.10 14.03 15.95 19.53 21.16

7 DIVIDEND/WITHDRAWAL 10.11 12.87 17.58 19.89 24.19 26.14

8 RESRVE 0.00

TOTAL 400.00 55.50 102.18 105.14 103.69 105.90 103.81

C. NET SURPLUS / DEFICIAT 74.59 27.00 32.16 32.51 38.19 38.98

D. CUMULATIVE SURPLUS / DEFICIAT 74.59 101.59 133.75 166.26 204.45 243.43


ANNEXURE - N

PROJECTED CASH FLOW STATEMENT(Figures in lacs.)


119.36

0

0

22.01

0.00

141.37

0

0

47.29

3.55

0

22.66

27.95

101.44

39.93

283.36


Goyal & Associates

ANNEXURE - O

PROJECTED BALANCE SHEET STATEMENT(Figures in lacs.)


A. LIABILITIES :

1 PROMOTER CONTRIBUTION 69.00 69.00 69.00 69.00 69.00 69.00

2 RESERVE & SURPLUS 23.59 53.63 94.65 141.05 197.49 258.49

3 LONG TERM LOAN 283.71 236.43 189.14 141.86 94.57 47.29

4 CURRENT LIABILITY 47.29 47.29 47.29 47.29 47.29 47.29

4 SUBSIDY (INTT. FREE LOAN) 0.00 0.00 0.00 0.00 0.00 0.00

TOTAL 423.59 406.34 400.08 399.19 408.35 422.06

B. ASSETS :

1 GROSS BLOCK 400.00 400.00 400.00 400.00 400.00 400.00

2 LESS : DEPRECIATION 51.00 95.25 133.67 167.06 196.10 221.37

3 NET BLOCK 349.00 304.75 266.33 232.94 203.90 178.63

4 CASH & BANK BALANCE 74.59 101.59 133.75 166.26 204.45 243.43

5 OTHER CURRENT ASSETS 0 0 0 0 0 0

6 PRE-OPERATIVE EXP.(NOT W/O) 0.00 0.00 0.00 0.00 0.00 0.00

TOTAL 423.59 406.34 400.08 399.19 408.35 422.06


Goyal & Associates

ANNEXURE - O

PROJECTED BALANCE SHEET STATEMENT(Figures in lacs.)


69.00

323.69

0.00

47.29

0.00

439.98

400.00

243.38

156.62

283.36

0

0.00

439.98


Goyal & Associates

ANNEXURE - P

YEAR WISE BREAK EVEN ANALYSIS

S.No. PARTICULARS OPERATIVE YEARSII III

1 SALES 145.53 155.232 CHANGE IN STOCKS 0 0

TOTAL INCOME 145.53 155.23

VARIABLE EXPENSES1 AMMONIA COST & FREEZE OIL 0.32 0.352 POWER COST 8.17 8.983 SALARY & WAGES 6.60 7.264 INSURANCE

TOTAL VARIABLE EXPENSES 15.09 16.59

CONTRIBUTION 130.44 138.64

FIXED EXPENSES

1 ADMINISTRATIVE SALARIES 0.33 0.362 TERM LOAN INTEREST 37.59 31.923 DEPRECIATION 44.25 38.424 REPAIRS & MAINTANANCE 0.40 0.44

TOTAL FIXED EXPENSES 82.17 70.70

BREAK EVEN POINT IN TERMS OF 62.99 51.00 INSTALLED CAPICITY IN %

B.E.P. IN TERMS OF TOTAL 62.99 62.99CAPACITY %

91.68 79.16B.E.P. IN TERMS OF SALES REVENUE


Goyal & Associates

ANNEXURE - P

YEAR WISE BREAK EVEN ANALYSIS


Goyal & Associates

ANNEXURE - Q

ESTIMATES OF INTERNAL RATE OF RETURN

FINANCIAL YEAR OUTFLOW INFLOW TOTALDEP.+INT

0 400.00 0 0 0 0 0

I 0 0 33.70 88.59 122.30

II 0 42.90 76.17 119.07

III 0 58.60 64.67 123.27

IV 66.29 53.96 120.25

V 80.63 43.93 124.56

VI 87.14 34.49 121.63

VII 93.15 25.56 118.71

200.00A DISCOUNTING RATE 15%

D 52.45%

CAPITAL INV.

CURRENT ASSETS

SALVAGE VALUE+ CURRENT ASSETS

PROFIT AFTER TAX

INTERNAL RATE OF RETURN (IRR)


Goyal & Associates

ANNEXURE - Q

ESTIMATES OF INTERNAL RATE OF RETURN

NETINFLOW

-400.00

122.30

119.07

123.27

120.25

124.56

121.63

118.71

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING & LOGISTICS

FINANCIAL PROPOSAL

VILLAGE-JORA, TEHSIL-JAISINGH NAGAR, DISTRICT-SHAHDOL (M.P.)

Assesment of Working Capital RequirementsForm - II : Opearting Statement (Rs.in lacs)

As per Profit & Loss Account actuals/estimates for the year ended/ending

March 31' 15March 31' 16March 31' 17March 31' 18March 31' 19M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGISTI Following Following Following Following Following

Year-Projec.Year-Projec.Year-Projec.Year-Projec.Year-Projec.1 2 3 4 5

1. Gross sales - (i) Domestic sales (Income fro 145.53 145.53 155.23 155.23 164.93 (ii) Export sales - - - - - (iii) Other Revenue In - - - - - Add other revenue income - - - - - Total 145.53 145.53 155.23 155.23 164.93 Less excise duty - - - - - 3. Net sales(item 1 - item 2) 145.53 145.53 155.23 155.23 164.93 4. % age rise (+) or fall (-) in net sales as compared to previous year (annualised) 0.00% 0.00% 6.67% 0.00% 6.25%5. Cost of sales i) Raw materials(including stores & spares and - - - - - other items used in the process of manufacture (a) Imported - - - - - (b) Indigenous - - - - - ii) Other spares (a) Imported - - - - - Salary & wages 6.00 6.60 7.26 7.99 8.78 iii) Power and fuel 7.93 8.17 8.98 9.25 10.12 iv) Repair & Maintances 0.40 0.44 0.48 0.53 0.59 v) Other Consumables (Amonia Cost & Freeze Oil) 0.30 0.32 0.35 0.37 0.41 Vi) Insurance 0.50 0.50 0.50 0.50 0.50 vi) Depreciation 51.00 44.25 38.42 33.39 29.04 vii) SUB-TOTAL (i to vi) 66.13 60.28 56.00 52.02 49.44 viii) Add:Opening stocks-in-process - - - - -

Sub-total 66.13 60.28 56.00 52.02 49.44 ix) Deduct:Closing stocks-in-process - - - - - x) Cost of Production 66.13 60.28 56.00 52.02 49.44 xi) Add : Opening stock of Fini.goods - - - - -

Sub-total 66.13 60.28 56.00 52.02 49.44 xii) Deduct closing stock of fini.goods - - - - - xiii) SUB-TOTAL (Total cost of sales) 66.13 60.28 56.00 52.02 49.44

Gross Profit 79.40 85.25 99.24 103.21 115.49 6. Selling, general & adm. expenses 0.30 0.33 0.36 0.40 0.44 7. SUB-TOTAL (5+6) 66.43 60.61 56.36 52.42 49.88 8. Operating profit before interest(3-7) 79.10 84.92 98.87 102.81 115.06 9. Interest 37.59 31.92 26.24 20.57 14.90 10.Operating profit after interest(8-9) 41.50 53.01 72.63 82.24 100.16 11. (i) Add other non-operating income (a) Export Incentives (b) Trading sales (Exports) - - - - - (c) Trading stock (net) - - - - - (d) Other Income - - - - - Sub-total (income) - - - - - (ii) Deduct other non-operating exp. (a) Pre. Expenses (w.off) - - - - - (b) Loss on sale of fixed assets - - - - - (c) Loss in investment - - - - - (d) Divedends/Withdrawls - - - - - Sub-total(expenses) - - - - - (iii) Net of other non-operating income/expenses - - - - - 12. Profit before tax/loss {10+11(iii)} 41.50 53.01 72.63 82.24 100.16 13. Provision for taxes 7.80 10.10 14.03 15.95 19.53 Provision for deffered tax - - - - - FBT - - - - - 14. Net profit/loss (12-13) 33.70 42.90 58.60 66.29 80.63 15. (a) Dividend & Dividend Tax 10.11 12.87 17.58 19.89 24.19 (b) Rate 0% 10% 0% 0% 0%16. Retained profit (14-15) 23.59 30.03 41.02 46.40 56.44 17. Retained profit/Net profit (% age) 70% 70% 70% 70% 70%

FORM - IIIANALYSIS OF BALANCE SHEET (Rs.in lacs)

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGIST As per Balance sheet as at LIABILITIES March 31' 15March 31' 16March 31' 17March 31' 18March 31' 19

Following Following Following Following FollowingYear-Projec.Year-Projec.Year-Projec.Year-Projec.Year-Projec.

CURRENT LIABILITIES 1 2 3 4 51.Short-term borrowings from banks(incld.bills purchaseddiscounted & excess borrwoing placed on repayment basis) (i) From applicant bank - - - - - (ii) From other banks - - - - - (iii) (of which BP & BD) (i) From applicant bank - - - - - (ii) From other banks - - - - -

Sub total (A) - - - - - 2. Sundry creditors- Capital Goods and Spares - - - - - 3. Sundry creditor - - - - - 4. Advance payments from customers/dep. from dealers - - - - - 5. Provision for taxation - - - - - 6. Dividend payable - - - - - 7. Other statutory liabilities (due within one year) - - - - - 8. Deposits/Instalments of term loans/DPGs/Debenture - - - - - (due within one year)9. Other current liabilities & provisions (due in 1y 47.29 47.29 47.29 47.29 47.29 (Specify major items) b. Other Current Liab(repayment of unsecured loans - - - - -

Other Current Liabilities [Sub-total (B)] 47.29 47.29 47.29 47.29 47.29 10. Total Current Liabilities(total of 1 to 9 excl 1 47.29 47.29 47.29 47.29 47.29

TERM LIABILITIES11.Debentures (not maturing within 1 yr.) - - - - - 12.Prefrence shares(redeemable after1yr.) - - - - - 13.Term loans(excld instalments payable within 1 yr. 283.71 236.43 189.14 141.86 94.57 14.Deferred Payment Credit excluding instt.due withi - - - - - 15.Term deposits (repayable after 1 yr.) - - - - - 16.Other term liabilities(unsecured loans) - - - - - 17. TOTAL TERM LIABILITIES 283.71 236.43 189.14 141.86 94.57

18. Total Outside Liabilities(item 10 +17) 331.00 283.71 236.43 189.14 141.86 NET WORTH

19.Share Capital 69.00 69.00 69.00 69.00 69.00 20.General reserve 23.59 53.63 94.65 141.05 197.49 21. Reserve for deffered tax liability - - - - - 22.Other reserves(excluding provisions) - - - - - 23.Surplus(+) or deficit(-) in P&L account - - - - - 23(a).Others - Subsidy - - - - - 23(b). Deferred tax - - - - - 24. NET WORTH 92.59 122.63 163.65 210.05 266.49 25. TOTAL LIABILITIES 423.59 406.34 400.08 399.19 408.35

FORM - III (Continued)ANALYSIS OF BALANCE SHEET (Rs.in lacs)

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGIST As per Balance sheet as at ASSETS March 31' 15 March 31' 16 March 31' 17 March 31' 18 March 31' 19

Following Following Following Following Following Year-Projec. Year-Projec. Year-Projec. Year-Projec. Year-Projec.

CURRENT ASSETS 1 2 3 4 5 26.Cash and bank balances 74.59 101.59 133.75 166.26 204.45 27.Investments(other than long term investments) - - - - - (i) Government & other Trustee securities - - - - - (ii)Fixed deposits with bank & Others - - - - - 28.(i) Receivables other than defered & export - - - - - ( including bills purchased and dicounted b - (ii)Export receivables(incld bills purchased & di - - - - - 29.Instalments of deferred receivables(due within 1 - - - - - 30.Inventory: - - - - - (i) Raw materials(including stores & other items - - - - - used in the process of manufacture) a)Imported - - - - - b)Indigenous - - - - - (ii) Works-in-process - - - - - (iii)Finished goods - - - - - (iv) Other consumable spares - - - - - a)Imported - - - - - b)Indigenous - - - - - 31.Advances to suppliers of raw materials & stores/s - - - - - 32.Advance payment of taxes - - - - - 33.Other current assets - - - - - - stock of traded goods - - - - - - Others (Pre Operative Exp.) - - - - - 34. TOTAL CURRENT ASSETS(total of 26 to 33) 74.59 101.59 133.75 166.26 204.45

FIXED ASSETS35.Gross Block(land & building,machinery,work-in-pro 400.00 400.00 400.00 400.00 400.00 36.Depreciation to date 51.00 95.25 133.67 167.06 196.10 37. NET BLOCK (35-36) 349.00 304.75 266.33 232.94 203.90

OTHER NON-CURRENT ASSETS38.Investments/book debts/adv./deposits which are no - - - - - Current Assets (i) a)Investments in subsidiary companies/affiliate - - - - - b)Others - - - - - (ii)Advances to suppliers of capital goods & contra - - - - - (iii)Defferred receivables - - - - - (iv)Others-Debtors >6 months - - - - - -Security deposit - - - - - -Loans & advances for others - - - - - 39.Non-consumables stores & spares40.Other non-current assets incl.dues from directors - - - - - 41. TOTAL OTHER NON-CURR.ASSETS - - - - - 42.Intangible assets(patents, goodwill, prelim. exp. bad/doubtful expenses not provided for, etc.) - - - - - 43. TOTAL ASSETS (34+37+41+42) 423.59 406.34 400.08 399.19 408.35

- - - - - 44. TANGIBLE NET WORTH (24-42) 92.59 122.63 163.65 210.05 266.49 45. NET WORKING CAPITAL(17+24)-(37+41+42) 27.31 54.30 86.46 118.97 157.16 46. Current Ratio 1.58 2.15 2.83 3.52 4.32 47. Total Outside Liabilities/ Tangible Net Worth 3.57 2.31 1.44 0.90 0.53 48. Total Term Liabilities/Tangible Net Worth 3.06 1.93 1.16 0.68 0.35

Assesment of Working Capital RequirementsForm - II : Opearting Statement (Rs.in lacs)

As per Profit & Loss Account actuals/estimates for the year ended/ending

March 31' 20Following

Year-Projec.6

164.93 - - - 164.93 - 164.93

0.00%

-

- -

- 9.66 10.42 0.64 0.43 0.50 25.27 46.94 - 46.94 - 46.94 - 46.94 - 46.94 118.00 0.48 47.42 117.52 9.22 108.29

- - - -

- - - - - - 108.29 21.16 - - 87.14 26.14

0% 61.00

70%

FORM - IIIANALYSIS OF BALANCE SHEET (Rs.in lacs)

As per Balance sheet as at March 31' 20Following

Year-Projec.6

- -

- - - - - - - - - -

47.29

- 47.29 47.29

- - 47.29 - - - 47.29

94.57

69.00 258.49 - - - - - 327.49 422.06

FORM - III (Continued)ANALYSIS OF BALANCE SHEET (Rs.in lacs)

As per Balance sheet as at March 31' 20 Following

Year-Projec. 6 243.43 - - - -

- - - -

- - - - - - - - - - - - 243.43

400.00 221.37 178.63

-

- - - - - - -

- -

- 422.06 - 327.49 196.14 5.15 0.29 0.14

FORM - IV Comparative statement of Current assets & Current Liabilities

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND L As per Balance sheet as at I. CURRENT ASSETS March 31' 15March 31' 16March 31' 17March 31' 18March 31' 19

Following Following Following Following FollowingYear-Projec.Year-Projec.Year-Projec.Year-Projec.Year-Projec. 1 2 3 4 5

1.Raw materials including stores & other items used in the process of manufacturing (a) Imported : Amount - - - - - : Month's consumptio - - - - - (b) Indigenous : Amount - - - - - : Month's consumptio - - - - - 2. Other consumable spares, excldg. those included in(1) above (a) Imported : Amount - - - - - : Month's consumptio - - - - - (b) Indigenous : Amount - - - - - : Month's consumptio - - - - - 3. Stocks-in-process : Amount - - - - - : Month's co - - - - - 4. Finished goods : Amount - - - - - : Month's co - - - - - 5. Receivables other than export & defered receivables ( Incldg. bills purchased & discounted by bank) : Amount 0.00 0.00 0.00 0.00 0.00 : Month's Domestic Sales( includg. defered - - - - - 6. Export receivables(incldg. bills purchased & disc.) : Amount 0.00 0.00 0.00 0.00 0.00 : Month's export Sales - - - - - 7. Advance to suppliers of materials & stores 0.00 0.00 0.00 0.00 0.00 8. Other current assets includg. cash & bank 74.59 101.59 133.75 166.26 204.45 receivables due within one year(speciy major items) : Cash & bank balances 74.59 101.59 133.75 166.26 204.45 : Investment except long-term investment 0.00 0.00 0.00 0.00 0.00 : Others 0.00 0.00 0.00 0.00 0.00 9. TOTAL CURRENT ASSETS 74.59 101.59 133.75 166.26 204.45

II. CURRENT LIABILITIES (Other than bank borrowing for working capital)

10. Creditors for purchase of raw materials,stores & consumable spares : Amount - - - - - : Month's purchase - - - - - 11. Advance from customers - - - - - 12. Statutory liabilities - - - - - 13. Other current liabilities-specify major items a) S.Creditors for Capital Goods - - - - - b) Dividend payable - - - - - c) Instalments of TL, DPS & public deposit - - - - - d) Other current liabilities & provisions 47.29 47.29 47.29 47.29 47.29 14. TOTAL 47.29 47.29 47.29 47.29 47.29

FORM - VASSESSED BANK FINANCE - PROJECTED BALANCE SHEET METHOD (Rs. in lACS)

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND L As per Balance sheet as at March 31' 16March 31' 17March 31' 18March 31' 19March 31' 20Following Following Following Following Following

Year-Projec.Year-Projec.Year-Projec.Year-Projec.Year-Projec.

1. Total Current Assets 101.59 133.75 166.26 204.45 243.43 2. Other Current Laibilities 47.29 47.29 47.29 47.29 47.29 3. Working Capital Gap 54.30 86.46 118.97 157.16 196.14 4. Net Working Capital (Actual/Projected) 54.30 86.46 118.97 157.16 196.14 5. Assessed Bank Finance 0.00 0.00 0.00 0.00 0.00 5. NWC/TCA (%) 53.45 64.65 71.56 76.87 80.57 6. OCL/TCA (%) 46.55 35.35 28.44 23.13 19.43 7. S.Creditors/TCA (%) 0.00 0.00 0.00 0.00 0.00 8. ABF/TCA (%) 0.00 0.00 0.00 0.00 0.00 9. Inventory/N.Sales (Days) 0.00 0.00 0.00 0.00 0.00 10. Receivables/G.Sales (Days) 0.00 0.00 0.00 0.00 0.00 11. S.Creditors/Purchases (Days) #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

FORM - VI FUND FLOW STATEMENT (Rs. lacs).M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND L As per Balance sheet as at

March 31' 15March 31' 16March 31' 17March 31' 18March 31' 19Following Following Following Following Following

Year-Projec.Year-Projec.Year-Projec.Year-Projec.Year-Projec. 1 2 3 4 5

1. SOURCES a) Net profit (after tax) 33.70 42.90 58.60 66.29 80.63 b) Depreciation 51.00 44.25 38.42 33.39 29.04 c) Increase in capital d) Increase in term liabilities,including pu 283.71 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 no 0.00 0.00 0.00 0.00 0.00 f) Others 69.00 0.00 0.00 0.00 0.00 g) TOTAL 437.42 87.15 97.03 99.68 109.66

2. USES a) Net loss b) Decrease in term liabilities,including pu 0.00 47.29 47.29 47.29 47.29 c) Increase in : i ) Fixed asset 400.00 0.00 0.00 0.00 0.00 ii ) Deprecia 0.00 0.00 0.00 0.00 0.00 iii) Other no 0.00 0.00 0.00 0.00 0.00 d) Dividend payment 10.11 12.87 17.58 19.89 24.19 e) Others 0.00 0.00 0.00 0.00 0.00 f) TOTAL 410.11 60.16 64.87 67.17 71.47 3. Long term surplus / deficit 27.31 27.00 32.16 32.51 38.19 4. Increase / Decrease in current assets* 74.59 27.00 32.16 32.51 38.19 (as per details given below)5. Increase / Decrease in current liabilities 47.29 - - - - other then bank borrowings6. Increase / Decrease in working capital gap 27.31 27.00 32.16 32.51 38.19 7. Net surplus(+) / deficit(-) - - - - - 8. Increase / Decrease in Bank borrowings - - - - -

INCREASE / DECREASE IN NET SALES 145.53 0.00 9.70 0.00 9.70

*Break-up of (4) - - - - - i ) Increase / decrease in Raw materials - - - - - ii ) Increase / decrease in Stock -in-pro - - - - - iii ) Increase / decrease in Finished good - - - - - iv) Increase / decrease in Receivables (a) - - - - - - - - - - v ) Increase / decrease in Stores & spare - - - - - vi) Increase / decrease in Other current a 74.59 27.00 32.16 32.51 38.19

Total 74.59 27.00 32.16 32.51 38.19

FORM - IV Comparative statement of Current assets & Current Liabilities

March 31' 20Following

Year-Projec. 6

- - - -

- - - - - - - -

0.00 -

0.00 -

0.00 243.43

243.43 0.00 0.00

243.43

- - - -

- - - 47.29 47.29

FORM - VASSESSED BANK FINANCE - PROJECTED BALANCE SHEET METHOD (Rs. in lACS)

March 31' 20

Year-Projec.

FORM - VI FUND FLOW STATEMENT (Rs. lacs). As per Balance sheet as at

March 31' 20 Following Year-Projec. 6

87.14 25.27

0.00 0.00 0.00 0.00

112.41

47.29 0.00 0.00 0.00 26.14 0.00 73.43

38.98 38.98

-

38.98 - -

0.00

- - - - - - - 38.98 38.98


Goyal & Associates

PERFORMANCE AND FINANCIAL INDICATORS.

PARTICULAR March 31' 15 March 31' 16 March 31' 17 March 31' 18 March 31' 19 March 31' 20 Following Following Following Following Following Following

Year-Projec. Year-Projec. Year-Projec. Year-Projec. Year-Projec. Year-Projec. Net Sales 145.53 145.53 155.23 155.23 164.93 164.93 PBT 41.50 53.01 72.63 82.24 100.16 108.29 PAT 33.70 42.90 58.60 66.29 80.63 87.14 PAT/N.Sales (%) 23.16 29.48 37.75 42.70 48.89 52.83 Paidup Capital 69.00 69.00 69.00 69.00 69.00 69.00 TNW 92.59 122.63 163.65 210.05 266.49 327.49 TOL/TNW 3.57 2.31 1.44 0.90 0.53 0.29 CR 1.58 2.15 2.83 3.52 4.32 5.15 PBT/TTA(%) 9.80 13.04 18.15 20.60 24.53 25.66N.Sales/TTA (times) 0.34 0.36 0.39 0.39 0.40 0.39Optg. Exp/N.Sales (%) 71.48 63.58 53.21 47.02 39.27 34.34BB/TTA (%) 0.00 0.00 0.00 0.00 0.00 0.00Inv+Rec/N.Sales (Days) - - - - - - TTA 423.59 406.34 400.08 399.19 408.35 422.06 Optg.Exp 104.03 92.52 82.60 72.99 64.77 56.64 Inv+Rec - - - - - - BB - - - - - -


Goyal & Associates

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS UNDER PBS METHOD

Particulars March 31' 15 March 31' 16 March 31' 17 March 31' 18 March 31' 19 March 31' 20 Total Current Assets 74.59 101.59 133.75 166.26 204.45 243.43 Other Current Liabilit 47.29 47.29 47.29 47.29 47.29 47.29 Working Capital Gap 27.31 54.30 86.46 118.97 157.16 196.14 NWC(Actual/Proj) 27.31 54.30 86.46 118.97 157.16 196.14 ABF - - - - - - NWC/TCA (%) 36.61 53.45 64.65 71.56 76.87 80.57 OCL/TCA (%) 63.39 46.55 35.35 28.44 23.13 19.43 S.Creditors/TCA (%) 0.00 0.00 0.00 0.00 0.00 0.00 ABF/TCA (%) 0.00 0.00 0.00 0.00 0.00 0.00 Inventories/N.Sales (D 0.00 0.00 0.00 0.00 0.00 Receivables/G.Sales (D 0.00 0.00 0.00 0.00 0.00 0.00 S.Crs/Purchases (Days) #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!PBDIT/Intt (Times) 3.46 4.05 5.23 6.62 9.67 15.49 PAT/N.Sales (%) 23.16 29.48 37.75 42.70 48.89 52.83 ROCE (%) 30.71 31.79 34.32 34.12 35.29 33.83 N.Sales 145.53 145.53 155.23 155.23 164.93 164.93 G.Sales 145.53 145.53 155.23 155.23 164.93 164.93 Receivables 0.00 0.00 0.00 0.00 0.00 0.00 Inventory 0.00 0.00 0.00 0.00 0.00 0.00 Purchases 0.00 0.00 0.00 0.00 0.00 0.00 S.Creditors 0.00 0.00 0.00 0.00 0.00 0.00 PBDIT 130.10 129.17 137.29 136.20 144.09 142.79 Interest 37.59 31.92 26.24 20.57 14.90 9.22 TTA 423.59 406.34 400.08 399.19 408.35 422.06 Cash Accruals 84.70 87.15 97.03 99.68 109.66 112.41 PBT/NS (%) 28.52 36.42 46.79 52.98 60.73 65.66


Goyal & Associates

RATIO ANALYSIS

March 31' 15 March 31' 16 March 31' 17 March 31' 18 March 31' 19 March 31' 20

Net Sales 145.53 145.53 155.23 155.23 164.93 164.93 (Exports) 0.00 0.00 0.00 0.00 0.00 0.00 Operating Profit 41.50 53.01 72.63 82.24 100.16 108.29 PBT 41.50 53.01 72.63 82.24 100.16 108.29 PBT/Net Sales (%) 28.52 36.42 46.79 52.98 60.73 65.66 PAT 33.70 42.90 58.60 66.29 80.63 87.14 Cash Accruals 84.70 87.15 97.03 99.68 109.66 112.41 PBDIT 130.10 129.17 137.29 136.20 144.09 142.79 PUC 69.00 69.00 69.00 69.00 69.00 69.00 TNW 92.59 122.63 163.65 210.05 266.49 327.49 Adjusted TNW 92.59 122.63 163.65 210.05 266.49 327.49 TOL/TNW 3.57 2.31 1.44 0.90 0.53 0.29 TOL/ adjusted TNW 3.57 2.31 1.44 0.90 0.53 0.29 Current Ratio 1.58 2.15 2.83 3.52 4.32 5.15


Goyal & Associates

PERFORMANCE AND FINANCIAL INDICATORS.

March 31' 21 Following

Year-Projec. 164.93 115.81 94.66 57.39 69.00 392.69 0.12 5.99

26.320.3729.780.00

- 439.98 49.12 - -


Goyal & Associates

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS UNDER PBS METHOD

March 31' 21 283.36 47.29 236.07 236.07 -

83.31 16.69 0.00 0.00 0.00 0.00

#DIV/0!39.86 57.39 32.13 164.93 164.93 0.00 0.00 0.00 0.00

141.37 3.55

439.98 116.67 70.22


Goyal & Associates

RATIO ANALYSIS

March 31' 21

164.93 0.00

115.81 115.81 70.22 94.66 116.67 141.37 69.00 392.69 392.69 0.12 0.12 5.99

March 31' 15March 31' 16March 31' 17March 31' 18March 31' 19Cross Checks Following Following Following Following Following

Year-Projec.Year-Projec.Year-Projec.Year-Projec.Year-Projec.Difference in Balance Sheet 0.00 0.00 0.00 0.00 0.00

Diff between SIP in P& L and in Bala 0.00 0.00 0.00 0.00 0.00

Diff between FG in P& L and in Bala 0.00 0.00 0.00 0.00 0.00

Diff between Dep in P& L and in Bala 0.00 0.00 0.00 0.00 0.00

Diff between P& L Balane & Inc in Re 0.00 0.00 0.00 0.00 0.00

IMPORTANT RATIOS / KEY FINANCIAL PARAMETERSM/s: GURUKRIPA COKD STORAGE, WAREHOUSING AND LOGISTICS-JORA Particulars 2015 2016 2017 2018 2018 2019

I YEAR II YEAR III YEAR IV YEAR V YEAR VI YEAR

Gross Sales 145.53 145.53 155.23 155.23 164.93 164.93Net Sales 145.53 145.53 155.23 155.23 164.93 164.93

Profit Before Tax 41.50 53.01 72.63 82.24 100.16 108.29Net profit/loss [PAT] 33.70 42.90 58.60 66.29 80.63 87.14Operating Profit 78.55 84.31 98.15 102.03 114.16 116.56PBDITA 130.10 129.17 137.29 136.20 144.09 142.79

PBT / Net sales [%] 28.52% 36.42% 46.79% 52.98% 60.73% 65.66%PAT / Net sales [%] 23.16% 29.48% 37.75% 42.70% 48.89% 52.83%Operating Profit / Net Sal 53.97% 57.93% 63.23% 65.73% 69.21% 70.67%PBDITA / Net Sales [%] 89.40% 88.76% 88.44% 87.74% 87.36% 86.57%PBT / TTA [%] 9.80% 13.04% 18.15% 20.60% 24.53% 25.66%PBDITA / TTA[%] 30.71% 31.79% 34.32% 34.12% 35.29% 33.83%PAT / TNW [%] 36.40% 34.99% 35.81% 31.56% 30.26% 26.61%Operating Profit / TNW [%] 84.83% 68.76% 59.98% 48.57% 42.84% 35.59%

Cash Accruals 84.70 87.15 97.03 99.68 109.66 112.41Net Working Capital 27.31 54.30 86.46 118.97 157.16 196.14Current Ratio 1.58 2.15 2.83 3.52 4.32 5.15PBDITA/Interest 3.46 4.05 5.23 6.62 9.67 15.49ROCE (%) 30.71% 31.79% 34.32% 34.12% 35.29% 33.83%

Paid up capital 69.00 69.00 69.00 69.00 69.00 69.00Tangible Net Worth 92.59 122.63 163.65 210.05 266.49 327.49Adjusted Tangible Net Wort 92.59 122.63 163.65 210.05 266.49 327.49TOL/TNW 3.57 2.31 1.44 0.90 0.53 0.29TOL / Adjusted TNW 3.57 2.31 1.44 0.90 0.53 0.29TTL/TNW [Debt/Equity] 3.06 1.93 1.16 0.68 0.35 0.14

Sales / Current Assets 1.95 1.43 1.16 0.93 0.81 0.68Sales / Fixed Assets 0.42 0.48 0.58 0.67 0.81 0.92Sales / TTA 0.34 0.36 0.39 0.39 0.40 0.39Sales / TNW 0.34 1.19 0.95 0.74 0.62 0.50

NWC / Current Assets [%] 36.61% 53.45% 64.65% 71.56% 76.87% 80.57%S.Creditors / Current Asse - - - - - -Bank Finance / Current Ass - - - - - -Inventories to net sales ( 0 0 0 0 0 0Recv. To Gross Sales (days 0 0 0 0 0 0Inv+Recv/sales (days) 0 0 0 0 0 0S. Crs. To Purchases (days 0 0 0 0 0 0

RM+Stores Cons./ Productio - - - - - -Power & Fuel / Production 5.45% 5.61% 5.78% 5.96% 6.14% 6.32%Direct Labour / Production 4.12% 4.54% 4.68% 5.14% 5.33% 5.86%Other Mfg.Exp. / Productio 0.82% 0.86% 0.86% 0.90% 0.91% 0.96%Selling,Gen&Adm.Exp./Prod. 0.21% 0.23% 0.23% 0.26% 0.27% 0.29%

Operating cost to Producti 0.00 0.00 0.00 0.00

[Rs. in

2020VII YEAR

164.93164.93

115.8193.15

118.35141.37

70.22%56.48%71.76%85.71%26.32%32.13%23.72%30.14%

115.16236.07

5.9939.8632.13%

69.00392.69392.69

0.120.120.00

0.581.050.370.42

83.31%--0000

-6.51%6.44%1.01%0.32%

FINANCIAL POSITION(Rs. in Lakh)

S.No. Particulars 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year2014-15 2015-16 2016-17 2017-18 2018-19 2019-20

a) 69.00 69.00 69.00 69.00 69.00 69.00 - Equiy- Reserve and Surplus 23.59 53.63 94.65 141.05 197.49 258.49

b) 92.59 122.63 163.65 210.05 266.49 327.49

c)d) Adjusted TNW 92.59 122.63 163.65 210.05 266.49 327.49 e) 376.31 359.05 352.79 351.91 361.06 374.77 f) Net Block 349.00 304.75 266.33 232.94 203.90 178.63 g) Net Sales :

145.53 145.53 155.23 155.23 164.93 164.93 - Exports

Total 145.53 145.53 155.23 155.23 164.93 164.93 h) Other Income 0.00 0.00 0.00 0.00 0.00 0.00 i) Depreciation 51.00 44.25 38.42 33.39 29.04 25.27 j) Gross Profit 130.10 129.17 137.29 136.20 144.09 142.79 k) Net Profit 33.70 42.90 58.60 66.29 80.63 87.14 l) Cash Accurals (i+k) 84.70 87.15 97.03 99.68 109.66 112.41 m) Net Profit/Capital Employed (%) 8.96% 11.95% 16.61% 18.84% 22.33% 23.25%n) Current Assets 74.59 101.59 133.75 166.26 204.45 243.43 o) Current Liabilities 47.29 47.29 47.29 47.29 47.29 47.29

RATIOS :p) Current Ratio 1.58 2.15 2.83 3.52 4.32 5.15 q) Debt/Equity :***

Total Term Liab./TNW 3.06 1.93 1.16 0.68 0.35 0.14 Total Outside Liab./TNW 3.57 2.31 1.44 0.90 0.53 0.29

r) Profitability % : PAT/Net Sales 23.16% 29.48% 37.75% 42.70% 48.89% 52.83%s) DSCR:

a) Company as a wholeb) For Specific TL 3.25 1.50 1.68 1.77 2.00 2.15 Average DSCR 2.10

t) Interest Coverage 0.00 0.00 0.00 0.00 0.00 0.00 u) Inventory + Receivables/Sales 0.00 0.00 0.00 0.00 0.00 0.00 v) Asset Coverage Ratio

Workedout (d) if item © is above 10% of Net Worth* Adjusted TNW plus M.T./Current Liabilities*** If we add subsidy available from National Horticulture MissionDE Ratio will further improve to 2:1 Details of quarterly publishes results, if any, in case of listed companies to be given as a separate column.

Paid-up Capital : (Promotor Contribution)

Tengible Net Worth ( Excl. rev. reserve & Net of Intengible Assets)Investment in cos. Of which associated companies/subsidiariesCapital Employed* (total funds employed)

- Domestic (Income from WH, Grading, WB)

7th Year2020-2169.00

323.69 392.69

392.69 392.69 156.62

164.93

164.93 0.00 22.01 141.37 93.15 115.16 23.72%283.36 47.29

0.00

0.00 0.12 56.48%

2.34

0.00 0.00

DE Ratio will further improve to 2:1 Details of quarterly publishes results, if any, in case of listed companies to be given as a separate column.

Name M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGISTICS-JORA (JAISINGH NAGAR)

Rupe LACSPARTICULARS ProjectionProjectionProjectionProjectionProjectionProjection

Years 2014-15 2015-16 2016-17 2017-18 2017-18 2018-19Operating months 12 12 12 12 12 12

Operating Statement 1 i. Domestic Sale 145.53 145.53 155.23 155.23 164.93 164.93 ii.Export Sale

1 Total Gross Sales 145.53 145.53 155.23 155.23 164.93 164.932 Less : Excise Duty3 Net Sales (1-2) 145.53 145.53 155.23 155.23 164.93 164.934 Growth in sales 0% 7% 0% 6% 0%Cost of Sales

5 a. Raw Material (Imported )b. Raw material (Indigenous)c. Stores & Spares (Imported)Amonia Cost & Freeze Oil 0.30 0.32 0.35 0.37 0.41 0.43

6 Power Cost 7.93 8.17 8.98 9.25 10.12 10.427 Salary & wages 6.00 6.60 7.26 7.99 8.78 9.668 Repairs and maintainance 0.40 0.44 0.48 0.53 0.59 0.649 Insurance 0.50 0.50 0.50 0.50 0.50 0.50

10 Depreciation 51.00 44.25 38.42 33.39 29.04 25.2711 Others expenses 0.00 0.00 0.00 0.00 0.00 0.00a Consumblesbcd POP 0.00 0.00 0.00 0.00 0.00 0.00Sub Total 66.13 60.28 56.00 52.02 49.44 46.94

12 Add: Opening Stock in Process 0.00 0.00 0.00 0.00 0.00Sub Total 66.13 60.28 56.00 52.02 49.44 46.94

13 Deduct : Closing Stock in ProcessCost of Production 66.13 60.28 56.00 52.02 49.44 46.94

14 Add: Opening Stock of Finished Goods 0.00 0.00 0.00 0.00 0.00 0.00Sub Total 66.13 60.28 56.00 52.02 49.44 46.94

15 Deduct : Closing Stock OF Finished GoodsSub Total ( Total Cost of Sales) 66.13 60.28 56.00 52.02 49.44 46.94

16 Gross profit 79.40 85.25 99.24 103.21 115.49 118.00Gross Profit/ Sales 54.56% 58.58% 63.93% 66.49% 70.02% 71.54%

17 Selling Expenses18 Administrative Expenses 0.30 0.33 0.36 0.40 0.44 0.48

Sub Total 66.43 60.61 56.36 52.42 49.88 47.4219 Operating Profit before interest 79.10 84.92 98.87 102.81 115.06 117.52

a. Interest on CC/TL. 0.00 0.00 0.00 0.00 0.00 1.00b.Interest on TL 37.59 31.92 26.24 20.57 14.90 9.22c.Other interests 0.00 0.00 0.00 0.00 0.00 1.00

20 Total Interest 37.59 31.92 26.24 20.57 14.90 11.2221 Operating Profit after Interest 41.50 53.01 72.63 82.24 100.16 106.2922 Add: Other non operating Incomea Interest/Dividend/Royalties etc..b Other IncomecdSub Total 0.00 0.00 0.00 0.00 0.00 0.00

23 Deduct other non operating expensesa Interest/Dividend/Royalties etc..b Other Expensesc Intangibles written off -1d Directors remunaratione POP 0.00 0.00 0.00 0.00 0.00 0.00Sub Total 0.00 0.00 0.00 0.00 0.00 0.00

24 0.00 0.00 0.00 0.00 0.00 0.0025 Profit before Tax /Loss (PBT) 41.50 53.01 72.63 82.24 100.16 106.2926 Provision for Taxes 7.80 10.10 14.03 15.95 19.53 21.16

Net of other non operating Income/Expenses

27 Net Profit/Loss (PAT) 33.70 42.90 58.60 66.29 80.63 85.1428 Cash Accruals 84.75 87.20 97.08 99.73 109.71 110.4629 Dividend paid + IT on Dividend 10.11 12.87 17.58 19.89 24.19 26.1430 Retained Profit 23.59 30.03 41.02 46.40 56.44 59.0031 Retained Cash Profits 74.59 74.28 79.44 79.79 85.48 84.2732 RM Content in sales 0% 0% 0% 0% 0% 0%33 PBDIT 130.10 129.17 137.29 136.20 144.09 142.7934 PBDIT/Sales 89.40% 88.76% 88.44% 87.74% 87.36% 86.57%35 Operating Profits/Sales 28.52% 36.42% 46.79% 52.98% 60.73% 64.45%36 PBT/Sales 28.52% 36.42% 46.79% 52.98% 60.73% 64.45%37 PAT/Sales 23.16% 29.48% 37.75% 42.70% 48.89% 51.62%38 Cash Accruals/ Sales 58.24% 59.92% 62.54% 64.25% 66.52% 66.97%

Interest on CC. 0.00Interest on TL Other interests 0.00

Transfer to Reserves (if any)

Depriciation adjustments

ANALYSIS OF BALANCE SHEET - LIABILITIES

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGI Rupe LACS

ProjectionProjectionProjectionProjectionProjectionProjection2014-15 2015-16 2016-17 2017-18 2017-18 2018-19

LIABILITIESCurrent Liabilities

1

Sub Total (A) 0.00 0.00 0.00 0.00 0.00 0.00

2 Short Term Borrowings from Others3 Sundry Creditors (Trade)4 Advance Payment from Customers5 Net Provision for Taxation (if positive)6 Dividend Payable7 Other Statutory Liab. (Due within one Year)8 Overdue Term Liabilities

9

10 47.29 47.29 47.29 47.29 47.29 47.29a 47.29 47.29 47.29 47.29 47.29 47.29bcd

11 Sub Total (B) 47.29 47.29 47.29 47.29 47.29 47.2912 TOTAL CURRENT LIABILITIES 47.29 47.29 47.29 47.29 47.29 47.29

TERM LIABILITIES13 Debentures (not maturing within one Year)14 Preference Shares (redeemable after 1 year)14 Term Loan from Bank(Less next Year Insta 283.71 236.43 189.14 141.86 94.57 47.29

14

15 0.00 0.00 0.00 0.00 0.00 0.0016 Term deposits (Ecl. Instal.due next Yr.)17 Cash Creditab Unsecured Loansc

Applicant Bank including BP &BDShort Term loans From Other banks including BP &BD

Installments of term Loan/ DPGs/ Deposits/ debentures due within next yearProvisions (due with in one year)year)

Banks/Inst.(Ecl. Instal.due next Yr.)Deferred Payments Credits (Ecl. Instal.due next Yr.)

18 TOTAL TERM LIABILITIES 283.71 236.43 189.14 141.86 94.57 47.2919 TOTAL OF OUTSIDE LIABILITIES 331.00 283.72 236.43 189.15 141.86 94.58

NET WORTH20 Share Capital 69.00 69.00 69.00 69.00 69.00 69.0021 General Reserve 23.59 53.63 94.65 141.05 197.49 258.4922 Revaluation Reserve23 Adjustments for previous Year costs24 Other reserves (excluding Provisions)25 Others 0.00 0.00 0.00 0.00 0.00 0.00abc

26 Surplus (+) or deficit (-) in Profit & Loss a/c27 NET WORTH 92.59 122.63 163.65 210.05 266.49 327.4928 TOTAL LIABILITIES (18+24) 423.60 406.34 400.08 399.20 408.35 422.06

ANALYSIS OF BALANCE SHEET Continued - ASSETSM/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGISTICS-JORA (JAISINGH NAGAR)

Rupe LACSProjectionProjectionProjectionProjectionProjectionProjection2014-15 2015-16 2016-17 2017-18 2017-18 2018-19

ASSETSCurrent Assets

1 Cash & Bank Balances 74.59 101.59 133.75 166.26 204.45 243.432 Govt. & other Trustee securities3 Fixed Deposits with Banks4 Domestic Receivables including BP/BD5 Export Receivables including BP/BD)6 Deferred receivables(due within one year7 Imported Raw Material8 Indigenous Rawmaterial9 Stock in Process

10 Finished Goods11 imported Consumables12 Indigenous consumablesa. Packing Material13 Loans&Advances14 Net Advance Payment of Taxes (if positiv15 Other Current Assets (specify major itema Loans&Advances to staffbcd

16 TOTAL CURRENT ASSETS 74.59 101.59 133.75 166.26 204.45 243.43

FIXED ASSETS17 Gross Block (Land & Building Machinery 400.00 400.00 400.00 400.00 400.00 400.0018 Add Capital expenditure in wirk-in-proce19 Depreciation to Date 51.00 95.25 133.67 167.06 196.10 221.3720 Net Block 349.00 304.75 266.33 232.94 203.90 178.6321 OTHER NON CURRENT ASSETSa Investments in Sub. cos./ affiliatesb Investment in Otherscd Deferred Receivables(Maturng after a year)e Other Non-current investmentsf Non Consumable Stores & SparesghiTOTAL OTHER NON CURRENT ASSETS 0.00 0.00 0.00 0.00 0.00 0.00

22 Intangible Assets a Preliminary Expenses 0.00 0.00 0.00 0.00 0.00 0.00b Deffered Revenue expendituresc Other Intangibles (patents, goodwill, etd Voluntary Retirement Expse

23 Total Intangible Assets 0.00 0.00 0.00 0.00 0.00 0.00

Contractors

Assets /dues from Directors

24 TOTAL ASSETS 423.59 406.34 400.08 399.19 408.35 422.06

49 TANGIBLE NET WORTH (TNW) 92.59 122.63 163.65 210.05 266.49 327.4950 NET WORKING CAPITAL (NWC) 27.30 54.30 86.46 118.97 157.16 196.14

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGISTICS-JORA (JAISINGH NAGAR Movement of TNWOpening TNW 92.59 122.63 163.65 266.49Plough back of profit 30.03 41.02 46.40 59.00Increase in capital/reserves 0.00 0.00 0.00 2.00Intangibles written off 0.00 0.00 0.00 0.00Closing TNW 92.59 122.63 163.65 210.05 266.49 327.49Current Ratio 1.58 2.15 2.83 3.52 4.32 5.15Debt/Equity 3.06 1.93 1.16 0.68 0.35 0.14TOL/Equity 3.57 2.31 1.44 0.90 0.53 0.29Current Assets/Tangible Assets 17.61% 25.00% 33.43% 41.65% 50.07% 57.68%ROCE(PBDIT incl.Other income/TTA) 0.31 0.32 0.34 0.34 0.35 0.34

0 0 0 0 0 0

ADDITIONAL INFORMATIONa. Arrears of Depreciationb. Contingent Liabilitiesc. Arrears of Cumulative Dividendsd. Gratuity Liability not Provided fore.Dispute Custom/Excise/ Tax Liabilitiesf. Other Liabilities not provided for

Check PointsCheck Points 2014-15 2015-16 2016-17 2017-18 2017-18 2018-19

1 Difference in Assets & Liabilities 0.00 0.00 0.00 0.00 0.00 0.002 0.00 0.00 0.00 0.003 0.00 0.00 0.00 0.004 0.00 0.00 0.00 0.00

Repayment ScheduleTerm Loan Repayment 0.00 0.00 0.00 0.00 0.00

Our Term LoanSecurity AvailableCollateral security available for TL

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES WORKING CAPITAL / BANK BORROWING ASSESSMENTSM/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGISTICS-JORA (JAISINGH NAGAR)

Rupe LACSProjectionProjectionProjectionProjectionProjectionProjection2014-15 2015-16 2016-17 2017-18 2017-18 2018-19

A. WORKING CAPITAL ASSESSMENT

Stock of Imported RM -Days Consumption 0 0 0 0 0 0 Stock of Indiginous RM - Days Consumptio 0 0 0 0 0 0 Imported Consumables - (Days Consumption 0 0 0 0 0 0 Indiginous Consumables - (Days Consumpti 0 0 0 0 0 0 Stock in process- (Days of Cost of Prod 0 0 0 0 0 0 Finished Goods - (Days Cost of Sales) 0 0 0 0 0 0

Total Inventory 0.00 0.00 0.00 0.00 0.00 0.00 Total Inventory/Sales (days) 0 0 0 0 0 0

Domestic receivables (Days Gross dom.Sal 0 0 0 0 0 0 Export Receivables - (Days Exports) 0 0 0 0 0 0

Total Receivables 0.00 0.00 0.00 0.00 0.00 0.00 Total Receivables/Gross Sales (days) 0 0 0 0 0 0

10Creditors - (days Consumption) 0 0 0 0 0 0

Total Current Assets 74.59 101.59 133.75 166.26 204.45 243.43

Sales

retained profitaccountinstalments plus overdues

figures below.

Financed bySundry Cr. % of Current Assets 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%Other Curr. Liab.% of Current Assets 63.40% 46.55% 35.36% 28.44% 23.13% 19.43%Bank Finance % of Current Assets 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%NWC % to Current Assets 36.60% 53.45% 64.64% 71.56% 76.87% 80.57%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

By PBS Method 2014-15 2015-16 2016-17 2017-18 2017-18 2018-19Total Current assets 0.00 0.00 0.00 0.00 0.00 0.00Other Current Liabilities 0.00 0.00 0.00 0.00 0.00 0.00Working Capital gap 0.00 0.00 0.00 0.00 0.00 0.00Net Working capital 0.00 0.00 0.00 0.00 0.00 0.00Bank Finance 0.00 0.00 0.00 0.00 0.00 0.00

Fund Flow AnalysisM/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGISTICS-JORA (JAISINGH NAGAR)

Rupe LACSParticulars ProjectionProjectionProjectionProjectionProjectionProjection

2014-15 2015-16 2016-17 2017-18 2017-18 2018-19FUND FLOW ANALYSIS

1 LONG TERM SOURCESProfit after Tax 42.90 58.60 66.29 80.63 85.14Depreciation 44.25 38.42 33.39 29.04 25.27Intangibles written off 0.00 0.00 0.00 0.00 0.00Increase in capital and reserves 0.00 0.00 0.00 0.00 2.00Increase in Term Liability 0.00 0.00 0.00 0.00 0.00i. Decrease in Fixed Assets 0.00 0.00 0.00 0.00 0.00ii. Decrease in Other non current assets 0.00 0.00 0.00 0.00 0.00

87.15 97.03 99.68 109.66 112.412 LONG TERM USESNet Loss 0.00 0.00 0.00 0.00 0.00Increase in Intangibles 0.00 0.00 0.00 0.00 0.00Decrease in Capi.and Reserves/ Share Buy 0.00 0.00 0.00 0.00 0.00Decrease in Term Liabilities 47.29 47.29 47.29 47.29 47.29i. Increase in Fixed Assets 0.00 0.00 0.00 0.00 0.00Increase in non-Current Assets 0.00 0.00 0.00 0.00 0.00iii. Increase in IntangiblesDividend paid 12.87 17.58 19.89 24.19 26.14

60.16 64.87 67.17 71.47 73.43Surplus/ Deficit 27.00 32.16 32.51 38.19 38.98Short Term SourcesIncrease in Bank Borrowings 0.00 0.00 0.00 0.00 0.00Increase in other Current Liab. 0.00 0.00 0.00 0.00 0.00Decrease in Inventory 0.00 0.00 0.00 0.00 0.00Decrease in Receivables 0.00 0.00 0.00 0.00 0.00Decrease in Cash/Deposits/Govt Sec. 0.00 0.00 0.00 0.00 0.00Decrease in Other Current Assets 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00Short Term UsesIncrease in Inventory 0.00 0.00 0.00 0.00 0.00Increase in Receivables 0.00 0.00 0.00 0.00 0.00Increase in Cash/Deposits/Govt Sec. 27.00 32.16 32.51 38.19 38.98Increase in Other Current Assets 0.00 0.00 0.00 0.00 0.00Decrease in Other Current Liab. 0.00 0.00 0.00 0.00 0.00Decrease in Bank Borrowings 0.00 0.00 0.00 0.00 0.00

27.00 32.16 32.51 38.19 38.98Summary of fund Flow AnalysisLong Term Sources 87.15 97.03 99.68 109.66 112.41Long Term Uses 60.16 64.87 67.17 71.47 73.43Surplus /Deficit (i-ii) 27.00 32.16 32.51 38.19 38.98 Short term sources 0.00 0.00 0.00 0.00 0.00Short term uses 27.00 32.16 32.51 38.19 38.98Surplus /Deficit (iii-iv) (27.00) (32.16) (32.51) (38.19) (38.98)

CALCULATION OF BREAK EVEN LEVELS

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGISTICS-JORA (JAISINGH NAGAR) Rupe LACS

VeriableProjectionProjectionProjectionProjectionProjectionProjectionParticulars % 2014-15 2015-16 2016-17 2017-18 2017-18 2018-19BREAK EVEN POINTSales 145.53 145.53 155.23 155.23 164.93 164.93Variable CostI.Raw Material 100.00% 0.00 0.00 0.00 0.00 0.00 0.00ii.Consumables 100.00% 0.30 0.32 0.35 0.37 0.41 0.43iii.Direct Labour 60.00% 3.60 3.96 4.36 4.79 5.27 5.80iv.Power & Fuel 60.00% 4.76 4.90 5.39 5.55 6.07 6.25v.Selling Expenses 20.00% 0.00 0.00 0.00 0.00 0.00 0.00vi.Other Variable CostsTotal Variable Costs 8.66 9.18 10.10 10.71 11.76 12.49Percent of Sales 6% 6% 7% 7% 7% 8%

Fixed Costs 95.37 83.35 72.51 62.28 53.02 46.15

Break Even Level of Sales 101.40 88.96 77.55 66.90 57.09 49.93Percentage to Sales 70% 61% 50% 43% 35% 30%

Cash Break Even of Sales 47.17 41.73 36.46 31.04 25.82 22.5932% 29% 23% 20% 16% 14%

Sensitivity to BEPWhen sales go downSales (when down by) 1% 144.07 144.07 153.68 153.68 163.28 163.28Veriable costs also go down by 1% 8.57 9.09 9.99 10.60 11.64 12.36Contribution 135.50 134.99 143.69 143.08 151.65 150.92Fixed Costs 95.37 83.35 72.51 62.28 53.02 46.15BEP 101.40 88.96 77.55 66.90 57.09 49.93% to Sales 70% 62% 50% 44% 35% 31%Cash Break Even of Sales 47.17 41.73 36.46 31.04 25.82 22.59% Sales 33% 29% 24% 20% 16% 14%

When RM cost goes up by 1%% can be passed on to customerSales will go up to 145.53 145.53 155.23 155.23 164.93 164.93Veriable costs up by 1% 8.66 9.18 10.10 10.71 11.76 12.49Contribution 136.87 136.35 145.14 144.52 153.18 152.45Fixed costs 95.37 83.35 72.51 62.28 53.02 46.15BEP if RM cost goes up by 1% 101.40 88.96 77.55 66.90 57.09 49.93% to Sales 70% 61% 50% 43% 35% 30%Cash Break Even of Sales 47.17 41.73 36.46 31.04 25.82 22.59% Sales 32% 29% 23% 20% 16% 14%

When Other Veriable costs up by1%% can be passed on to customer 0%Sales will go up to 145.53 145.53 155.23 155.23 164.93 164.93Other Veriable Cost up by 1% 8.75 9.27 10.20 10.82 11.87 12.61Contribution 136.78 136.26 145.04 144.41 153.06 152.32Fixed Costs 95.37 83.35 72.51 62.28 53.02 46.15BEP If Variable Expn. Go up by 1% 101.46 89.02 77.61 66.95 57.13 49.97% Sales 70% 61% 50% 43% 35% 30%Cash Break Even of Sales 47.20 41.76 36.48 31.06 25.84 22.61% Sales 32% 29% 24% 20% 16% 14%

Sensitivity to DSCRWhen Sales go down Sales (when down by) 10% 130.98 130.98 139.71 139.71 148.44 148.44Veriable costs also go down by 0% 8.66 9.18 10.10 10.71 11.76 12.49Fixed cost 95.37 83.35 72.51 62.28 53.02 46.15Total cost 104.03 92.52 82.60 72.99 64.77 58.64Operating Profits 26.95 38.45 57.11 66.72 83.67 89.80Depriciation & non cash charges 51.00 44.25 38.42 33.39 29.04 25.27Cash Accruals 77.95 82.70 95.53 100.10 112.70 115.07Interest on TL 37.59 31.92 26.24 20.57 14.90 9.22

RepaymentsGross DSCR 3.07 3.59 4.64 5.87 8.57 13.48Average Gross DSCR 0.30

When RM cost goes up by 10%% can be passed on to customer 0%Sales 145.53 145.53 155.23 155.23 164.93 164.93Veriable costs sales go up to 8.66 9.18 10.10 10.71 11.76 12.49Fixed cost 95.37 83.35 72.51 62.28 53.02 46.15Total cost 104.03 92.52 82.60 72.99 64.77 58.64Operating Profits 41.50 53.01 72.63 82.24 100.16 106.29Depriciation & non cash charges 51.00 44.25 38.42 33.39 29.04 25.27Cash Accruals 92.50 97.26 111.05 115.63 129.20 131.57Interest on TL 37.59 31.92 26.24 20.57 14.90 9.22Repayments 0.00 0.00 0.00 0.00 0.00 0.00Gross DSCR 3.46 4.05 5.23 6.62 9.67 15.27Average Gross DSCR 0.30

When Variable costs go up by 10%% can be passed on to customer 0%Sales 145.53 145.53 155.23 155.23 164.93 164.93Veriable costs sales go up to 9.53 10.10 11.10 11.78 12.93 13.73Fixed cost 95.37 83.35 72.51 62.28 53.02 46.15Total cost 104.89 93.44 83.61 74.06 65.95 59.89Operating Profits 40.64 52.09 71.62 81.17 98.99 105.05Depriciation & non cash charges 51.00 44.25 38.42 33.39 29.04 25.27Cash Accruals 91.64 96.34 110.04 114.56 128.02 130.32Interest on TL 37.59 31.92 26.24 20.57 14.90 9.22Repayments 0.00 0.00 0.00 0.00 0.00 0.00Gross DSCR 3.44 4.02 5.19 6.57 9.59 15.13Average Gross DSCR 0.42

RATIO ANALYSIS Rupe LACS

ProjectionProjectionProjectionProjectionProjectionProjectionParticulars 2014-15 2015-16 2016-17 2017-18 2017-18 2018-19

... RATIOS1 Growth in Sales 0% 0% 7% 0% 6% 0%2 Gross profit Ratio 54.56% 58.58% 63.93% 66.49% 70.02% 71.54%3 PBDIT 130.10 129.17 137.29 136.20 144.09 142.794 PBDIT/sales 89.40% 88.76% 88.44% 87.74% 87.36% 86.57%5 Operating Profits/Sales 28.52% 36.42% 46.79% 52.98% 60.73% 64.45%6 PBT/Sales 28.52% 36.42% 46.79% 52.98% 60.73% 64.45%7 PAT/Sales 23.16% 29.48% 37.75% 42.70% 48.89% 51.62%8 Cash Accruals/ Sales 58.24% 59.92% 62.54% 64.25% 66.52% 66.97%9 Sales/Equity 1.57 1.19 0.95 0.74 0.62 0.50

10 Sales / TTA 0.34 0.36 0.39 0.39 0.40 0.3911 Interest Coverage (Interest/PBDIT) 5147.53% 37.58% 26.54% 20.01% 12.95% 9.55%12 PBDIT / Interest (Times) 3.46 4.05 5.23 6.62 9.67 12.7313 Deferred Debt/ Equity 3.06 1.93 1.16 0.68 0.35 0.1414 TOL/Equity 3.57 2.31 1.44 0.90 0.53 0.2915 Current Ratio (CA / CL) 1.58 2.15 2.83 3.52 4.32 5.1516 Current Ratio excluding TL Instalments 1.58 2.15 2.83 3.52 4.32 5.1517 CA / TTA (%) 17.61% 25.00% 33.43% 41.65% 50.07% 57.68%18 Inentory+Receivables as days of Net Sale 0 0 0 0 0 019 Bank Borrowings/Current Assets 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%20 RM content in sales 0% 0% 0% 0% 0% 0%21 ROCE(PBDIT incl.Other income/TTA) 30.71% 31.79% 34.32% 34.12% 35.29% 33.83%

DSCRDebt Service Coverage Ratio CalculationsCash accruals 84.75 87.20 97.08 99.73 109.71 110.46

Interest on TL / Deffered Loans 37.59 31.92 26.24 20.57 14.90 10.22

Any cash inflow(eg.sales tax deferal, subsidy )

Repayment Obligations of TL 0.00 0.00 0.00 0.00 0.00Repayment of other deffered LoansTotal Repayment 37.59 31.92 26.24 20.57 14.90 10.22

Net Debt Service Coverage Ratio (DSCR) 0.00 0.00 0.00 0.00 0.00 0.00Gross Debt Service Coverage Ratio (DSCR) 3.25 3.73 4.70 5.85 8.37 11.81Average Net DSCR 0.21Average Gross DSCR #REF!

Security Coverage RatioSecurity Coverage RatioNet Block 349.00 304.75 266.33 232.94 203.90 178.63Term Loan outstanding (including instalm 283.71 236.43 189.14 141.86 94.57 47.29Security Cover avilable (NB-TL/NB) 19% 22% 29% 39% 54% 74%

Security cover including Collateral SecuritySecurity Cover avilable ((NB+Collaeral-T 19% 22% 29% 39% 54% 74%

M/s: GURUKRIPA COLD STORAGE, WAREHOUSING AND LOGISTI Key IndicatorsKey Indicators Rupees in LACS

ProjectionProjectionProjectionProjectionProjectionProjection2014-15 2015-16 2016-17 2017-18 2017-18 2018-19

Net Sales 145.53 145.53 155.23 155.23 164.93 164.93Operating Profit 41.50 53.01 72.63 82.24 100.16 106.29 (Net) Other income 0.00 0.00 0.00 0.00 0.00 0.00PBDIT/Sales 89.40% 88.76% 88.44% 87.74% 87.36% 86.57%PBT/Sales 28.52% 36.42% 46.79% 52.98% 60.73% 64.45%PAT 33.70 42.90 58.60 66.29 80.63 85.14PAT/Net Sales 23.16% 29.48% 37.75% 42.70% 48.89% 51.62%Cash Accruals 84.75 87.20 97.08 99.73 109.71 110.46Cash Accruals/Sales 58.24% 59.92% 62.54% 64.25% 66.52% 66.97%Paid up Capital (PUC) 69.00 69.00 69.00 69.00 69.00 69.00TNW 92.59 122.63 163.65 210.05 266.49 327.49Adjusted TNW (TNW-Investment in asso 92.59 122.63 163.65 210.05 266.49 327.49TOL/TNW 3.57 2.31 1.44 0.90 0.53 0.29TOL/Adjusted TNW 3.57 2.31 1.44 0.90 0.53 0.29C/R 1.58 2.15 2.83 3.52 4.32 5.15C/R excluding T/L instalments due in 1.58 2.15 2.83 3.52 4.32 5.15Net Sales/TTA (Times) 0.34 0.36 0.39 0.39 0.40 0.39PBT/TTA (%) 9.80% 13.04% 18.15% 20.60% 24.53% 25.18%Operating costs/sales(%) 71.48% 63.58% 53.21% 47.02% 39.27% 35.55%Bank Finance / Current Assets (%) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%Inv + Rec. /N.S. (DAYS) 0 0 0 0 0 0 NWC / CA (%) 36.60% 53.45% 64.64% 71.56% 76.87% 80.57%

Projection2019-20

12

164.93

164.93

164.93

0.4610.7410.630.710.50

22.010.00

0.0045.04

45.04

45.041.00

46.04

46.04118.8972.09%

0.5346.57

118.360.673.550.674.88

113.48

0.00

0.000.00

0.00113.4822.66

90.82112.8827.9562.8784.88

0%140.3785.11%68.80%68.80%55.06%68.44%

Projection2019-20

0.00

47.2947.29

47.2947.29

0.00

0.00

0.0047.29

69.00323.69

0.00

392.69439.98

0.00Projection2019-20

283.36

283.36

400.00

243.38156.62

0.00

0.00

0.00

439.98

392.69236.07

327.4962.872.330.00

392.695.990.000.12

64.40%0.32

0

2019-200.000.000.000.00

0.00

Projection2019-20

0 0 0 0 0 0

0.00 0

0 0

0.00 0

0

283.36

0.00%16.69%0.00%

83.31%0.00%

2019-200.000.000.000.000.00

Projection2019-20

90.8222.010.002.330.000.000.00

115.16

0.000.000.00

47.290.000.00

27.9575.2339.93

0.000.000.000.000.000.000.00

0.000.00

39.930.000.000.00

39.93

115.1675.23

39.93 0.00

39.93(39.93)

Projection2019-20

164.93

0.000.466.386.440.00

13.278%

38.18

41.5225%

17.5811%

163.2813.14

150.1438.1841.52

25%17.58

11%

164.9313.27

151.6638.1841.52

25%17.58

11%

164.9313.41

151.5338.1841.56

25%17.60

11%

148.4413.2738.1851.4596.9922.01

119.003.55

34.55

164.9313.2738.1851.45

113.4822.01

135.493.550.00

39.21

164.9314.6038.1852.78

112.1522.01

134.173.550.00

38.83

Projection2019-20

0%72.09%140.3785.11%68.80%68.80%55.06%68.44%

0.420.37

4.12%28.770.000.125.995.99

64.40%0

0.00%0%

31.90%

112.88

4.21

0.00

4.21

0.0027.79

156.620.00

0%

100%

Rupees in LACSProjection2019-20164.93

113.48 0.00

85.11%68.80%90.82

55.06%112.8868.44%69.00

392.69392.69

0.120.125.995.990.37

25.79%31.20%0.00%

0 83.31%

Cold storage Project

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