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Finance
Improved Rice Mill
Capacity : 4800 MT/ annum
No. of working days / annum = 300 days
(Rs. Lakhs) Remarks S.No. Items Cost 1 Land and Land Development Charges 5.00
2 Civil Works 30.95 3 Plant and Machinery and electricals Cost ( Including Erection and
Commissioning Charges) 21.82 4 Furniture and Fixtures and miscellaneous fixed asets 2.00 5
Standby diesel gensets 3.75 6 Pre-operative Expenses 3.00 7 Contingencies @ approx. 5% on
sum total of item no. 1 to 5 3.18 8 Margin Money on Working Capital 6.71 @25% of Total WC
Requirement 9 Total Financial Outlay 76.40 10 Margin Money Contribution @25% towards
TFO 19.10 11 Bank Term Loan Component 57.30 12 Total WC requirement in year 1 of
operation 26.84 at 60% capacity utilization 13 Bank Loan component for WC requirement for
year 1 operation 20.13 being 75% of total WC requirement in year 1
Calculation of working capital requirement
(Rs. in Lakhs)
S.No. Item
Working capital
requirement at
60% capacity
utilization in
year 1
Requirement
period in Days
30
4.32
30
10.08
Sub total
14.40
Commission Charges( on
quantity of raw paddy purchased
from APMC Market Yard/
Private Mandis)
30
0.07
30
0.06
30
0.82
30
0.09
30
0.43
30
0.86
30
0.09
Sub total
2.42
3 Finished Goods
a
2.96
0.09
0.08
0.06
Subtotal
Debtors
Sundry debtors
Sub total
Selling expenses
Sub total
30
0.29
Administrative and
miscellaneous expenses
30
0.03
Sub total
3.20
10
6.40
6.40
30
0.10
0.10
0.32
26.84
6.71
20.13
Note:
Banks may assess the working capital requirement
on a realistic basis.
AnnexureI(A)
(Amt. Rs.)
S.No. Item
Size /
Specifications
Unit Cost
Total Cost
Rs. 300 /
sq. ft
840000
Rs. 300 /
sq. ft
240000
Rs. 300 /
sq. ft
840000
Rs. 300
/sq.ft
315000
40' x25'
Rs. 300
/sq. ft
300000
Finished product or
30' x 35'
Milled rice storage shed
Office unit
10' x 15'
Rs. 300 /
sq. ft
45000
Labor quarters
30 ' x 15'
Rs. 300 /
sq.ft
135000
Rs. 300 /
sq.ft
180000
L.S.
100000
50000
50000
3095000
Total Cost
650,000
98,000
45,000
35,000
600,000
50,000
90,000
250,000
9 Subtotal
Insurance , freight, erection and
10 commissioning charges @20% of the
subtotal
11 Total
1,818,000
363,600
2,181,600
Annexure-I c
(Amt. Rs.)
S.No.
Equipment
1 Paddy cleaner
15
3 Paddy Separators
7.5
45
7 Bucket Elevators
7.5
8 Internals
10
9 Subtotal
100
Parameters
Value
Remarks
65.00%
3.00%
5.00%
25.00%
2.00%
16
Mt/ day
300
days
60.00%
Year 2 of operation
65.00%
10
70.00%
11
5000.00
12
30%
13
70%
14
35.00
15
30.00
16
285.00
17
30.00
18
150.00
19
100.00
20
300.00
21
500.00
22
9500.00
23
6000.00
24
3500.00
25
13.00%
26
1.50%
of the cost of
fixed assets
27
1.50%
of the initial
cost of fixed
assets
28
35
29
10.00
30
10.00%
31
25.00%
32
20.00%
33
Bank Loan
57.30
Lakh
34
years
35
years
36
37
0%
38
27.45%
39
36.60%
40
12%
41
58.52
5.88 13 Sales realization from open market sale of rice husks and other impurities 3.89 4.21 4.54
4.54 4.54 4.54 4.54 4.54 4.54 4.54 4.54 4.54 4.54 4.54 4.54 14 Total sales realization 191.95
207.95 223.94 223.94 223.94 223.94 223.94 223.94 223.94 223.94 223.94 223.94 223.94 223.94
223.94 15 Expenses
16 Amount of raw material purchased from farmers (MT/
annum) 864 936 1008 1008 1008 1008 1008 1008 1008 1008 1008 1008 1008 1008 1008 17
Amount of raw material purchased from APMC Market Yard/ Private Mandis (MT/ annum) 2016
2184 2352 2352 2352 2352 2352 2352 2352 2352 2352 2352 2352 2352 2352 18 Cost of raw
paddy purchased from farmers directly 43.20 46.80 50.40 50.40 50.40 50.40 50.40 50.40 50.40
50.40 50.40 50.40 50.40 50.40 50.40 19 Cost of raw material purchased from APMC market
yard/ and Private Mandis 100.80 109.20 117.60 117.60 117.60 117.60 117.60 117.60 117.60
117.60 117.60 117.60 117.60 117.60 117.60 20 Commission Charges( on quantity of raw paddy
purchased from APMC Market Yard/ Private Mandis) 0.71 0.76 0.82 0.82 0.82 0.82 0.82 0.82
0.82 0.82 0.82 0.82 0.82 0.82 0.82 21 Cess ( on quantity of raw paddy purchased from APMC
Market Yard/ Private Mandies) 0.60 0.66 0.71 0.71 0.71 0.71 0.71 0.71 0.71 0.71 0.71 0.71 0.71
0.71 0.71 22 Transportation charges (Rs. /MT) 8.21 8.89 9.58 9.58 9.58 9.58 9.58 9.58 9.58 9.58
9.58 9.58 9.58 9.58 9.58 23 Loading and unloading charges (Rs./ MT) 0.86 0.94 1.01 1.01 1.01
1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01 24 Cost of Gunny Bags (Rs./MT) 4.32 4.68
5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 25 Marketing expenses (Rs/
MT) 1.01 1.09 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 26 Fuel and
power consumption charges (Rs. /MT) 8.64 9.36 10.08 10.08 10.08 10.08 10.08 10.08 10.08
10.08 10.08 10.08 10.08 10.08 10.08 27 Interest on Working Capital 2.62 2.83 3.05 3.05 3.05
3.05 3.05 3.05 3.05 3.05 3.05 3.05 3.05 3.05 3.05 28 Repair and maintenance charges (Rs./ MT)
0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 29 Insurance on fixed
assets (Rs./MT) 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 30
Salaries and wages (Rs./ MT) 2.88 3.12 3.36 3.36 3.36 3.36 3.36 3.36 3.36 3.36 3.36 3.36 3.36
3.36 3.36 31 Administrative and Miscellaneous expenses (Rs./MT) 0.29 0.31 0.34 0.34 0.34 0.34
0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 32 Total Expenses 175.89 190.40 204.91 204.91
204.91 204.91 204.91 204.91 204.91 204.91 204.91 204.91 204.91 204.91 204.91 32 Gross
profit 16.06 17.55 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03
19.03
S.No. Item
Year Year Year Year Year Year Year Year Year Year Year Year Year Year
Year 1
1
2
3
4
5
6
7
8
9
10
11
12 13 14
Civil Works
Opening
Value
30.95 27.86 25.07 22.56 20.31 18.28 16.45 14.80 13.32 11.99 10.79 9.71 8.74 7.87 7.08
Depreciation 3.10 2.79 2.51 2.26 2.03 1.83 1.64 1.48 1.33 1.20 1.08 0.97 0.87 0.79 0.71
Book Value
2
27.86 25.07 22.56 20.31 18.28 16.45 14.80 13.32 11.99 10.79 9.71 8.74 7.87 7.08 6.37
Plant and
Machinery
Opening
Value
21.82 16.36 12.27 9.20 6.90 5.18 3.88 2.91 2.18 1.64 1.23 0.92 0.69 0.52 0.39
Depreciation 5.45 4.09 3.07 2.30 1.73 1.29 0.97 0.73 0.55 0.41 0.31 0.23 0.17 0.13 0.10
Book Value
3
16.36 12.27 9.20 6.90 5.18 3.88 2.91 2.18 1.64 1.23 0.92 0.69 0.52 0.39 0.29
Furniture and
Fixtures and
miscellaneous
fixed asets
Opening
Value
5.75 4.60 3.68 2.94 2.36 1.88 1.51 1.21 0.96 0.77 0.62 0.49 0.40 0.32 0.25
Depreciation 1.15 0.92 0.74 0.59 0.47 0.38 0.30 0.24 0.19 0.15 0.12 0.10 0.08 0.06 0.05
Book Value
4.60 3.68 2.94 2.36 1.88 1.51 1.21 0.96 0.77 0.62 0.49 0.40 0.32 0.25 0.20
Total
depreciation
9.70 7.80 6.31 5.15 4.23 3.50 2.92 2.45 2.07 1.76 1.51 1.30 1.13 0.98 0.86
Book value
48.82 41.02 34.71 29.56 25.34 21.84 18.92 16.47 14.40 12.64 11.13 9.83 8.70 7.72 6.87
Repayment
Loan
DSCR
O/s at
the end
of the
Value
Avg.
Equal
DSCR Annual
Installment
year
Principal Interest
Total
outgo
Year 1
57.30
16.06 0.00
6.88
6.88
57.30
2.34
1.00
Year 2
57.30
17.55 0.00
6.88
6.88
57.30
2.55
1.00
Year 3
57.30
19.03 8.19
6.88
15.06 49.11
1.26
1.00
Year 4
49.11
19.03 8.19
5.89
14.08 40.93
1.35
1.00
Year 5
40.93
19.03 8.19
4.91
13.10 32.74
1.45
1.00
Year 6
32.74
15.85 8.19
3.93
12.12 24.56
1.31
1.00
Year 7
24.56
15.42 8.19
2.95
11.13 16.37
1.38
1.00
Year 8
16.37
15.02 8.19
1.96
10.15 8.19
1.48
1.00
Year 9
8.19
14.65 8.19
0.98
9.17
1.60
1.00
151.63 57.30
41.26
0.00
1.64
8.19
9.00
Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Gross Profit
(PBDIT)
Depreciation
Civil Works
3.10 2.79 2.51 2.26 2.03 1.83 1.64 1.48 1.33 1.20 1.08 0.97 0.87 0.79 0.71
Plant and
Machinery
5.45 4.09 3.07 2.30 1.73 1.29 0.97 0.73 0.55 0.41 0.31 0.23 0.17 0.13 0.10
Miscellaneous
1.15 0.92 0.74 0.59 0.47 0.38 0.30 0.24 0.19 0.15 0.12 0.10 0.08 0.06 0.05
Fixed Asets
16.06 17.55 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03 19.03
Total
depreciation
9.70 7.80 6.31 5.15 4.23 3.50 2.92 2.45 2.07 1.76 1.51 1.30 1.13 0.98 0.86
Profit before
interest and
tax but after
depreciation
(PADBIT)
6.36 9.75 12.72 13.89 14.80 15.53 16.11 16.58 16.96 17.27 17.52 17.73 17.91 18.05 18.18
Interest on
Term Loan
6.88 6.88 6.88 5.89 4.91 3.93 2.95 1.96 0.98 0.00 0.00 0.00 0.00 0.00 0.00
Profit after
depreciation
and interest -0.51 2.87 5.84 7.99 9.89 11.60 13.17 14.62 15.98 17.27 17.52 17.73 17.91 18.05 18.18
but before tax
(PADIBT)
10
Income Tax
Payment
11
Profit after
depreciation,
-0.51 2.87 5.84 7.99 9.89 8.42 9.55 10.60 11.59 12.53 11.11 17.73 17.91 18.05 18.18
interest and
tax (PAT)
12
Add back
13
Depreciation 9.70 7.80 6.31 5.15 4.23 3.50 2.92 2.45 2.07 1.76 1.51 1.30 1.13 0.98 0.86
14
Interest on
Term Loan
6.88 6.88 6.88 5.89 4.91 3.93 2.95 1.96 0.98 0.00 0.00 0.00 0.00 0.00 0.00
15
Post Tax
Operational
Income
(Coverage
Available)
16.06 17.55 19.03 19.03 19.03 15.85 15.42 15.02 14.65 14.29 12.62 19.03 19.03 19.03 19.03
16
Calculation
for DSCR
17
Coverage
Available
18
Total Debts to
be Repaid
19
Installments
of term loan
20
Interest on
term loan
21
Total debts to 6.88 6.88 15.06 14.08 13.10 12.12 11.13 10.15 9.17 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 3.19 3.61 4.01 4.39 4.74 6.41 0.00 0.00 0.00 0.00
16.06 17.55 19.03 19.03 19.03 15.85 15.42 15.02 14.65 14.29 12.62 19.03 19.03 19.03 19.03
be repaid
22
DSCR
2.34 2.55 1.26 1.35 1.45 1.31 1.38 1.48 1.60 0.00 0.00 0.00 0.00 0.00 0.00
23
Value
24
Weighted
DSCR
2.58
25
Average
DSCR
1.64
Year 1
Year Year Year Year Year Year Year Year Year Year Year Year Year Year
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Recurring
Cost
Cost of raw
paddy
purchased
43.20 46.80 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40
from
farmers
directly
Cost of raw 100.8 109.2 117.6 117.6 117.6 117.6 117.6 117.6 117.6 117.6 117.6 117.6 117.6 117.6 117.6
material
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
purchased
from APMC
market yard/
and Private
Mandis
Commission
Charges( on
quantity of
raw paddy
purchased
0.71
from APMC
Market
Yard/
Private
Mandis)
0.76 0.82 0.82 0.82 0.82 0.82 0.82 0.82 0.82 0.82 0.82 0.82 0.82 0.82
Cess ( on
quantity of
raw paddy
purchased
from APMC 0.60
Market
Yard/
Private
Mandies)
0.66 0.71 0.71 0.71 0.71 0.71 0.71 0.71 0.71 0.71 0.71 0.71 0.71 0.71
Transportati
on charges 8.21
(Rs. /MT)
8.89 9.58 9.58 9.58 9.58 9.58 9.58 9.58 9.58 9.58 9.58 9.58 9.58 9.58
Loading and
unloading
0.86
charges
(Rs./ MT)
0.94 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01
Cost of
Gunny Bags 4.32
(Rs./MT)
4.68 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04 5.04
10
Marketing
expenses
(Rs/ MT)
1.09 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18 1.18
11
Fuel and
power
consumptio 8.64
n charges
(Rs. /MT)
1.01
9.36 10.08 10.08 10.08 10.08 10.08 10.08 10.08 10.08 10.08 10.08 10.08 10.08 10.08
12
Interest on
Working
Capital
2.62
2.83 3.05 3.05 3.05 3.05 3.05 3.05 3.05 3.05 3.05 3.05 3.05 3.05 3.05
13
Repair and
maintenance
0.88
charges
(Rs./ MT)
0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88
14
Insurance on
fixed assets 0.88
(Rs./MT)
0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88 0.88
15
Salaries and
wages (Rs./ 2.88
MT)
3.12 3.36 3.36 3.36 3.36 3.36 3.36 3.36 3.36 3.36 3.36 3.36 3.36 3.36
Administrati
ve and
Miscellaneo 0.29
us expenses
(Rs./MT)
0.31 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34
16
Total
recurring
cost
175.8 190.4 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9
9
0
1
1
1
1
1
1
1
1
1
1
1
1
1
17
Total Cost
252.2 190.4 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9 204.9
9
0
1
1
1
1
1
1
1
1
1
1
1
1
1
18
Benefits
19
Benefits
( net tax)
20
Book Value
21
Total
benefits
22
Net benefit -60.34 17.55 19.03 19.03 19.03 15.85 15.42 15.02 14.65 14.29 12.62 19.03 19.03 19.03 25.90
23
Discounting 15.00
Factor
%
191.9 207.9 223.9 223.9 223.9 220.7 220.3 219.9 219.5 219.2 217.5 223.9 223.9 223.9 223.9
5
5
4
4
4
6
3
3
6
0
3
4
4
4
4
6.87
191.9 207.9 223.9 223.9 223.9 220.7 220.3 219.9 219.5 219.2 217.5 223.9 223.9 223.9 230.8
5
5
4
4
4
6
3
3
6
0
3
4
4
4
1