Vous êtes sur la page 1sur 10

Base Data & Assumptions

1
Solution : Vamshi Rubber Ltd 0.00% 2

Cost of Project (Rs. Lacs)


Land 21.00
Site Development 8.68
Buildings 104.32
Plant & Machnery 418.36
Erection of Plant & Machinery 3.64
Miscelleneous fixed Assets 167.00
Contingencies 56.20
Total Cost of Construction 779.20
Preoperative Expenses 64.00
Total Capital Costs 843.20
Preliminery Expenses 21.00
Margin Money for Working Capital 72.79
Total Cost of Project 936.99

Means of Finance
Equity Capital ( Promoters) 346.75
Term Loans 70% 590.24
Total Means of Finance 936.99
Supporting Calculations 0.00% 3
Contingency
Cost % Total
Buildings & civil Works (Incl Site Dev.) 113.0 5% 5.65
Plant & Mach ( 418.36+3.64) 422.0 10% 42.20
Misc Fixed Assets 167.00 5% 8.35
702.0 56.20

Approtioment of Preop & Contingencies


Cost Pre op Contingencies Total
Buildings & civil Works (Incl. site development) 113.00 10.30 5.65 128.95
Plant & Mach. 422.00 38.47 42.20 502.67
Misc Fixed Assets 167.00 15.23 8.35 190.58
702.00 64.00 56.20 822.20 21 843.20 843.20 0.00

Working Results (Rs Lacs)


0 1 2 3 4 5 5
100% 60% 70.0% 80% 80% 80% 80%
Sales MTs @ 100% Rs / MT Rs Lacs
Tr 4000 39000 1560 936.0 1092.0 1248.0 1248.0 1248.0 1248.0
Total Sales 4000 39000 1560 936.0 1092.0 1248.0 1248 1248 1248
Raw Material Consumption MTs @ 100% Rs / MT
Tr 3200 32000 1024 614 717 819 819 819
Total RM Consumption 3200 1024 614 717 819 819 819

Consumables : Packing Material 1000 40 24 28 32 32 32

Cost of Manufacture (Rs Lacs)


Manufacturing Exp
Power ( Fixed Charge) 40.00 30.00 35.00 40.00 40.00 40.00

Fuel 20 15.00 17.50 20.00 20.00 20.00


Total utiliies 45.00 52.50 60.00 60.00 60.00
Wages : 24 18.00 21.00 24.00 24.00 24.00
Repairs & Maint. 1% 0.25% 5.03 6.28 7.54 8.80 10.05
Contingencies 5% of Utilities, wges,& Rep/M 5% 3.40 3.99 4.58 4.64 4.70
Total Manf Overheads 71.43 83.77 96.12 97.44 98.76
Salaries 35 26.25 30.63 35.00 35.00 35.00
Admn OH as … % of Sales 2% 18.72 21.84 24.96 24.96 24.96
Total Manf + Admn overheads 116.40 136.24 156.08 157.40 158.72
Selling exp as … % of sales 1% 9.36 10.92 12.48 12.48 12
Total overheads 125.76 147.16 168.56 169.88 171

30.00 35.00 40.00 40.00 40.00


Interest on Term Loan 0.00% 4
Constructi Operating Period
Particulars
0 1 2 3 4 5
1st Qtr Opening Balance 590.2 590.2 443 295 148
Less Repayment ( at end of quarter) 36.9 37 37 37
Closing Balance 590.2 553.4 405.8 258.2 110.7
2nd Qtr Opening Balance 590.2 553.4 405.8 258.2 110.7
Less Repayment ( at end of quarter) 36.9 37 37 37
Closing Balalnce 590.2 516.5 368.9 221.3 73.8
3rd Qtr Opening Balance 590.2 516.5 368.9 221.3 73.8
Less Repayment ( at end of quarter) 36.9 37 37 37
Closing Balalnce 590.2 479.6 332.0 184.5 36.9
4th Qtr Opening Balance 590.2 479.6 332.0 184.5 36.9
Less Repayment ( at end of quarter) 36.9 37 37 37
Closing Balalnce 590.2 442.7 295.1 147.6 0.0
Total Interest for yr 14.00% 82.6 74.9 54.2 33.6 12.9
Total Repayment in yr 0 147.6 147.6 147.6 147.6
590.2
Profitability statement 0.00% 5

Construct Operating Period


Particulars
0 1 2 3 4 5 6 7 8 9 10
Sales 936.0 1092.0 1248.0 1248.0 1248.0 1248.0

Operating Costs
- RM 614.4 716.8 819.2 819.2 819.2 0.0 0.0
- Packing Material 24.0 28.0 32.0 32.0 32.0
- Manufacturing, Admn & Other Exp. 125.8 147.2 168.6 169.9 171.2
PBDIT 171.8 200.0 228.2 226.9 226
- Dep (WDV) 157.6 123.0 96.6 76.3 61
- Preliminery Exp Written off 4.2 4.2 4.2 4.2 4.2
PBIT 10.0 72.8 127.5 146.4 161
- Int on TL 82.6 74.9 54.2 33.6 13
- Int on WC 16% 29.9 34.9 39.9 39.9 40
PBT -102.5 -37.0 33.3 72.9 108

- Income Tax 32.45% 0.0 0.0 0.0 0.0 35.0 0.0 0.0 0.0 0.0 0.0
PAT -102.5 -37.0 33.3 72.9 73
(MAT is Ignored)
Working Capital Requirements
Raw Material 1 51.20 59.7 68.3 68.3 68
Consumables 1 2.0 2.3 2.7 2.7 3
WIP 1 57.15 66.7 76.3 76.4 76
Finished Goods 1 60.9 71.1 81.3 81.4 81
Receivables 1 78.0 91.0 104.0 104.0 104
Cash 1 10.5 12.3 14.0 14.2 14
Total Working Capital Required 259.7 303.1 346.5 346.9 347
Bank Loan (Working capital i.e. cash credit) 75% 186.9 218.2 249.4 249.5 250
Owners margin 72.8 85.0 97.2 97.3 97
Depreciation WDV
Civil Structures 10% 12.895 11.6 10.4 9.4 8
Plant & Machinery 25% 125.7 94.3 70.7 53.0 40
Misc Fixed Assets 10% 19.1 17.2 15.4 13.9 13
SubTotal 157.6 123.0 96.6 76.3 60.7

Tax -102.5 -37.0 33.3 72.9 107.8 0.0 0.0 0.0 0.0 0.0
-102.5 -139.5 -106.1 -33.2 74.6 74.6 74.6 74.6 74.6 74.6
0 0 0 0 34.98605 0 0 0 0 0
Profitability & Returns 0.00%

0 1 2 3 4 5 6 7 8
Financial Results
Profitability
Gross Profit % 18.4% 18.3% 18.3% 18.2% 18.1%
Net Profits % -11.0% -3% 3% 6% 6%
ROE -42.0% -17.8% 13.9% 23.3% 18.8%
Liquidity
Current Ratio 1.707 1.34 1.25 1.27 1.23
Leverage
Debt Equity 2.42 2.14 1.23 0.47 0.00
0.00 0.00 0.00 0.00 0.00 0 0
Debt Service Coverage Ratio
PAT as per P& L a/c -102.5 -37.0 33.3 72.9 72.8
Add : Depreciation 157.6 123.0 96.6 76.3 60.7
Add : Prelim. Exp written off 4.2 4.2 4.2 4.2 4.2
Add : Term Loan Interest 82.6 74.9 54.2 33.6 12.9
Cash available for servicing loan (a) 141.9 165.1 188.3 187.0 150.7
Interest on Term Loan 82.6 74.9 54.2 33.6 12.9
Term loan repayments 0.0 147.6 147.6 147.6 147.6
Cash required for servining loan (b) 82.6 222.4 201.8 181.1 160.5
Annual DSCR [ (a) / (b) ] 1.7 0.7 0.9 1.0 0.9
Average DSCR 1.07
Minimum DSCR 0.74
8

9 10 Average
Appraisal of Risk 0.00%

Cost of Project d. Sensitivity Analysis


Civil, Plant & Misc Asset Cost 779.2
Normal Adverse
Preoperative Expenses 64.0
Prelim 21.0 Civil Cost 0% 10.0%
WC Margin + Bk Gtee Margin 72.8
Total 937.0 Plant 0% 5.0%
Means
Equity 346.8 Sales 0.0% -5.0%
Loans 590.2 Equity IRR 0.0%
937.0 Cost of Manf 0 5%
Equity IRR 0.0%
b. Appraisal Criteria
e. Scenario Analysis
Scenarios >> Most adverse Adverse

DSCR 1.07 Civil Cost 15% 10%


Plant 10% 7%
c. Other Sensitive Factors Sales -7.0% -5%
Bank Term Loan Proportion 70% Cost of Manf 5% 4%
IRR

Probability 2.5% 7.5%


Very
Adverse

20% 0%

10% 0%

-10.00% 0%

10% 0%

Moderate
Normal Low Favorable
adverse

5% 0% -2%
5% 0% 0%
-2% 0% 2%
2% 0% -2%

15% 70.0% 5%
100.0%

Vous aimerez peut-être aussi