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Asset Valuation for Depreciation Purposes (Rs in Millions)

Asset
Basic Cost
Land
Building
Plant and
Machinery
Miscellaneous fixed
assets

Share of
Share of
Preoperative cost Contigency margin Total
10
1.26
0.88
15
1.9
1.32

12.14
18.22

62

7.84

5.45

75.29

0.51

0.35

4.86

Depreciation schedule for company law purposes (Rs in Millions)


Building
Plant and
machinery

3.34%

0.61

7.42%

5.59

Misc fixed assets


Annual
depreciation

7.42%

0.36
6.55

Deprecitaion schedule for income tax purposes (written down value method-Rs in millions)
Year
1
2
3
4
Building
1.822
1.640
1.476
1.328
Plant and
machinery and
misc fixed assets
Total

12.021
13.843

10.218
11.8578

8.685
10.161

7.383
8.711

Sales realization
Year
InstalledCapacity
(TPA)

2880

2880

2880

2880

Capacity utilization
Production (TPA)
Sales realization

50%
1440
172.8

60%
1728
207.36

70%
2016
241.92

70%
2016
241.92

5
1.195

6
1.076

7
0.968

8
0.871

9
0.784

6.275
7.470

5.334
6.410

4.534
5.502

3.854
4.725

3.276
4.060

2880

2880

2880

2880

2880

70%
2016
241.92

70%
2016
241.92

70%
2016
241.92

70%
2016
241.92

70%
2016
241.92

10
0.706

2.784
3.490

10
2880
70%
2016
241.92

Tax Calculation
Year
Profit/loss before tax
Add: depreciation for
company law purposes
Less: Depreciation for
company law purposes

Less:unabsorbed
depreciation of earlier years Gross total income
Total income
Income tax @ 30%

1
9.12

2
14.8

3
20.16

4
20.43

5
20.66

6
20.86

7
21.03

6.55
15.67

6.55
21.35

6.55
26.71

6.55
26.98

6.55
27.21

6.55
27.41

6.55
27.58

13.84
1.83

11.86
9.49

10.16
16.55

8.71
18.27

7.47
19.74

6.41
21.00

5.50
22.08

1.83
1.83
0.55

9.49
9.49
2.85

16.55
16.55
4.96

18.27
18.27
5.48

19.74
19.74
5.92

21.00
21.00
6.30

22.08
22.08
6.62

8
21.16

9
21.24

10
21.29

6.55
27.71

6.55
27.79

6.55
27.84

4.73
22.98

4.06
23.73

3.49
24.35

22.98
22.98
6.90

23.73
23.73
7.12

24.35
24.35
7.31

Profitability Estimates (Estimates of working results) in Rs. Million


1
2
3
A

sales realisation

Cost of Production

172.8

207.36

241.92

241.92

241.92

112.32

134.78

157.25

157.25

157.25

6.91

8.29

9.68

9.68

9.68

10

12

12.6

13.23

0.5

0.53

0.56

0.6

0.63

Selling expenses (10% of A)

17.28

20.736

24.192

24.192

24.192

Gross profit before interest (A-B-C)

25.79

32.024

37.238

36.598

35.938

Tot. financial expenses


7.2

7.2

6.53

5.63

4.73

interest on bank borrowing

2.72

3.26

3.8

3.8

3.8

Depreciation

6.55

6.55

6.55

6.55

6.55

Operating profit(D-E-F)

9.32

15.014

20.358

20.618

20.858

Preliminary expenses written off

0.2

0.2

0.2

0.2

0.2

Profit/loss before tax

9.12

14.814

20.158

20.418

20.658

Provision for tax

0.55

2.85

4.97

5.48

5.92

Profit after tax (I-J)

8.57

11.964

15.188

14.938

14.738

Less: dividend

Retained profit (K-L)

8.57

5.964

9.188

7.938

7.738

Add:Depreciation

6.55

6.55

6.55

6.55

6.55

0.2

0.2

0.2

0.2

0.2

15.32

12.714

15.938

14.688

14.488

Raw Materials
Power
wages & salaries
Factory overheads
C

Administration & selling expenses


Administration expenses

interest on term loans

Preliminary expenses written off


O

Net cash accruals

10

241.92

241.92

241.92

241.92

241.92

157.25

157.25

157.25

157.25

157.25

9.68

9.68

9.68

9.68

9.68

13.89

14.59

15.32

16.08

16.89

0.67

0.71

0.75

0.8

0.84

24.192

24.192

24.192

24.192

24.192

35.238

34.498

33.728

32.918

32.068

3.83

2.93

2.03

1.13

0.23

3.8

3.8

3.8

3.8

3.8

6.55

6.55

6.55

6.55

6.55

21.058

21.218

21.348

21.438

21.488

0.2

0.2

0.2

0.2

0.2

20.858

21.018

21.148

21.238

21.288

6.3

6.62

6.9

7.12

7.31

14.558

14.398

14.248

14.118

13.978

10

6.558

6.398

5.248

5.118

3.978

6.55

6.55

6.55

6.55

6.55

0.2

0.2

0.2

0.2

0.2

13.308

13.148

11.998

11.868

10.728

Projected Balance sheets


At the end of the contsruction period

Liabilities
Share capital
Reserves and surplus
Secured Loans
Term Loans
Working capital advance
Unsecured Loans
State Gov loan
Current liabilities and provisions
trade credit
Total
Assets
Fixed assets
Less:Accumulated depreciation
Net fixed assets
Investments
Current assets,loans and advances
Raw materials
Stock-in process
Finished goods
Book debts
Cash and bank balances
Misc expenditure and losses
Preliminary expenses
Total

Years

(Rs in Millions)

50

50
8.57

50
14.53

50
23.72

50
31.66

50
39.40

60

60
20.9

56.25
25.05

48.75
29.24

41.25
29.24

33.75
29.24

11

11

11

11

11

11

121

4.68
155.15

5.62
162.45

6.55
169.26

6.55
169.70

6.55
169.94

110.5

110.5
6.55
103.95

110.5
13.11
97.39

110.5
19.66
90.84

110.5
26.22
84.28

110.5
32.77
77.73

8.5

14.04
0.32
5.34
14.4
15.3

16.85
0.38
6.38
17.28
22.56

19.66
0.45
7.46
20.16
29.3

19.66
0.45
7.46
20.16
36.5

19.66
0.45
7.46
20.16
43.49

2
121

1.8
155.15

1.6
162.44

1.4
169.27

1.2
169.71

1
169.95

110.5

10

50
45.96

50
52.35

50
57.60

50
62.72

50
66.70

26.25
29.24

18.75
29.24

11.25
29.24

3.75
29.24

0
29.24

11

11

11

11

11

6.55
169.00

6.55
167.89

6.55
165.64

6.55
163.26

6.55
163.49

110.5
39.33
71.17

110.5
45.88
64.62

110.5
52.44
58.06

110.5
58.99
51.51

110.5
65.55
44.95

19.66
0.45
7.46
20.16
49.31

19.66
0.45
7.46
20.16
54.97

19.66
0.45
7.46
20.16
59.48

19.66
0.45
7.46
20.16
63.86

19.66
0.45
7.46
20.16
70.85

0.8
169.01

0.6
167.92

0.4
165.67

0.2
163.3

0
163.53