` T&ME - 1

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM - I
PARTICULARS OF EXISTING / PROPOSED LIMITS FROM THE BANKING SYSTEM
(Limits from all Banks and Financial Institutions as on date of application)
Name: JEEVAN CHEMICALS & PHARMACEUTICALS ( Rs.in lakhs )

Sl. No.
NAME OF BANK / FINANCIALNATURE OF FACILITY EXISTING EXTENT TO WHICH LIMITS BAL.O/S LIMITS NOW
INSTITUTION LIMITS WERE UTILISED DURING AS ON REQUESTED
LAST 12 MONTHS 31.3.2019 2019-2020
MAX. MIN.
A. WORKING CAPITAL LIMITS:

FUND BASED BANK OD /CC 70 70 17 64.52

NON FUND BASED

B. TERM LOANS/DPGS TERM LOAN 312.43 397.12 312.43 79.38

EXCLUDING WORKING
CAPITAL TERM LOANS

TOTAL 382.43 467.12 329.43 143.90 -

CREDIT MONITORING ARRANGEMENT WORKING CAPITAL ASSESSMENT

INFORMATION ON ASSOCIATE COMPANIES

(COMPANIES /FIRMS/CONCERNS IN WHICH DIRECTORS/PARTNERS/PROPRIETOR AND/OR THEIR FAMILY MEMBER OF THE
BORROWER COMPANY IS/ARE ASSOCIATED WITH THE OTHER UNIT AS DIRECTORS/PARTNERS/PROPRIETOR OR
HAS/HAVE FURNISHED GUARANTEES).
Name: JEEVAN CHEMICALS & PHARMACEUTICALS ( Rs.in Lakhs )

Sl. No. Name of the Associate Annual makeup of A/c Limits from all Banks and fincial institutions
Company & Activity (Date of B/S)
Name of Working Capital Term loan Overdues,if
Bank/finan Funds Non-fund & any
cial Instn. Based Based DPG

1 JEEVAN CHEMICALS BOI 70 0 312.43 0

 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM II : OPERATING STATEMENT

Name: JEEVAN CHEMICALS & PHARMACEUTICALS (Amount Rs. In Lakhs)

Page 1
As per Profit & Loss account actuals/
estimates for the year ended/ending
LAST 2 YEARS
ACTUALS AS PER PROVISION PROVISIONALPROJECTIONPROJECTION
AUDITED ACCOUNTS
31.03.2017 31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
(1) (2) (3) (4) (5) (6)

Raw Material Consumption quantity

Sales quantity

Total 0.000 0.000 0.000 0.000 0.000 0.000

1) GROSS INCOME:
I) Sales (net of returns)

a) Domestic Sales 340.64 370.70 467.81 560.00 660.00 770.00

b) Export Sales - - - - - -
c) Sub-total (a+b) 340.64 370.70 467.81 560.00 660.00 770.00
Less: Excise Duty - - - - -
Net Sales 340.64 370.70 467.81 560.00 660.00 770.00
d) Percentage rise (+) or fall (-) in sales turnover as
compared to previous year 0.00% 8.82% 26.20% 19.71% 17.86% 16.67%

II) Other Income -

a) Steel Processing Labour Charges -
b) Miscellaneous Income - - - - -
III) Total (I) + (II) 340.64 370.70 467.81 560.00 660.00 770.00
2. COST OF SALES:
0.00% 0.00% 0.00% 0.00% 0.00% 16.67%
I) Raw Materials( Including Stores and other items used
in the process of Manufacture )
- Imported - - - - - -
- Indegeneous/Finished Goods 255.79 238.74 352.81 381.00 466.00 530.00
II) Power and Fuel - -
III) Direct Labour ( Wages,Salaries, Bonus, Staff Welfare e 11.44 25.37 41.02 46.00 51.00 67.00
IV) Other Manufacturing expenses 18.59 18.38 23.19 26.45 31.50 37.85
V) Depreciation 4.38 4.04 3.65 3.16 2.74 2.38
Sub-total (I to V) 290.20 286.53 420.67 456.61 551.24 637.23

Contd...2
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM II : OPERATING STATEMENT

Name: JEEVAN CHEMICALS & PHARMACEUTICALS (Amount Rs. In Lakhs)

Page 2
As per Profit & Loss account actuals/
estimates for the year ended/ending
LAST 2 YEARS
ACTUALS AS PER ACTUALS ESTIMATES ESTIMATES ESTIMATES
AUDITED ACCOUNTS
31.03.2017 31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
-1 (2) (3) (4) (5) (6)

IV) Add : Opening stock of W.I.P. - - - - - -

V) Sub-total (III+IV) 290.20 286.53 420.67 456.61 551.24 637.23
VI) Less : Closing Stock W.I.P. -
VII) Sub-total (V-VI)( Total Cost of Production ) 290.20 286.53 420.67 456.61 551.24 637.23
VIII) Add : Opening stock of Finished Goods 40.46 42.12 32.48 68.00 65.00 70.00
IX) Sub-total (VII+VIII) 330.66 328.65 453.15 524.61 616.24 707.23
X) Less : Closing Stock of Finished Goods 42.12 32.48 68.00 65.00 70.00 80.00
XI) Sub-total ( Total cost of Sales ) 288.54 296.17 385.15 459.61 546.24 627.23
84.71% 79.89% 82.33% 82.07% 82.76% 81.46%
3. SELLING, GENERAL & ADMINISTRATIVE EXPENSES 14.81 35.63 33.84 41.72 47.51 65.26

4. OPERATING PROFIT BEFORE INTEREST[1(III) - 2(XI) - 3] 37.29 38.90 48.82 58.67 66.25 77.51
10.95% 10.49% 10.44% 10.48% 10.04% 10.07%
5. INTEREST AND FINANCIAL CHARGES
- Interest on Working Capital 9.78 9.76 7.81 10.50 10.50 10.50
- Interest on Term Loan 5.60 2.12 4.98 4.78 4.60 4.40

7. OPERATING PROFIT AFTER INTEREST [4 - 5 - 6] 21.91 27.02 36.03 43.39 51.15 62.61

8. I) Add: Other non-operating Income

(a) Interest received - - - - - -
(b) Prior period income - - - - - -
(c) Others 0.53 1.54 - - - -
(d) sub-total (INCOME) 0.53 1.54 - - - -
II) Less: Other non-operating expenses -
(a) Others - - - - - -
(b) - - - - - -
(c) Sub-total (EXPENSES) - - - - - -
III) Net of other non-operating Income / Expenses [Net of 8 (I) & 8 0.53 1.54 - - - -

9. PROFIT BEFORE TAX / (LOSS) [7 + 8(III)] 22.44 28.56 36.03 43.39 51.15 62.61

10. PROVISION FOR TAXES - - - - - -

11. NET PROFIT/LOSS (9-10) 22.44 28.56 36.03 43.39 51.15 62.61
PBT to Sales % 6.59% 7.70% 7.70% 7.75% 7.75% 8.13%
Contd...3
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM II : OPERATING STATEMENT

Name: JEEVAN CHEMICALS & PHARMACEUTICALS (Amount Rs. In Lakhs)

Page 3
As per Profit & Loss account actuals/
estimates for the year ended/ending
LAST 2 YEARS
ACTUALS AS PER ACTUALS ESTIMATES ESTIMATES ESTIMATES
AUDITED ACCOUNTS
31.03.2017 31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
(1) (2) (3) (4) (5) (6)

12. (a) Equity Dividend Paid - - - - - -

(b) Dividend Rate

13. RETAINED PROFIT (11-12) 22.44 28.56 36.03 43.39 51.15 62.61

14. RETAINED PROFIT/NET PROFIT (%AGE) [13 / 11] - - - - - -

15. ADDITIONAL DATA:

Break-up of Sales Turnover [ Inclusive of other income]

(a) Domestic Sales:

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
Sub-total - - - - - -
(b) Export Sales: - - - - - -
Sub-total - - - - - -
16. TOTAL (a+b) [To agree with 1 (III)] - - - - - -

Contd...4
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM - III : ANALYSIS OF BALANCE SHEET

Name: JEEVAN CHEMICALS & PHARMACEUTICALS (Amount Rs. In Lakhs)

Page 4
As per Profit & Loss account actuals/
estimates for the year ended/ending
LAST 2 YEARS
ACTUALS AS PER ACTUALS ESTIMATES ESTIMATES ESTIMATES
AUDITED ACCOUNTS
31.03.2017 31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
(1) (2) (3) (4) (5) (6)
CURRENT LIABILITIES

1. Short term borrowings from Banks

(incldg. bills purchased, discounted & excess borrowings
placed on repayment basis)
(a) from applicant Bank - - - - - -
(b) from other banks - - - - -
(c) (of which BP & BD) (-) (-) (-) (-) (-) (-)
Sub-total (A) - - - - - -
2. Short term borrowings from others - - - - - -
3. Sundry Creditors (Trade) 46.69 75.07 47.99 24.00 25.00 26.00
4. Advance payments from customers / deposits from dealers
5. Provision for taxation
6. Dividend payable
7. Other statutory liabilities [due with in one year]
8. Deposits/Debentures/Instalments under term loans / DPGs etc.]
( due with in one year )
9. Other current liabilities and Provisions 7.37 5.90 6.48 7.00 1.00 1.50
(due with in one year)
(Specify major Items)
Sub-total (B) 54.06 80.97 54.47 31.00 26.00 27.50
10. TOTAL CURRENT LIABILITIES [ Total of 1 to 9] 54.06 80.97 60.95 31.00 26.00 27.50

Contd...5
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM - III : ANALYSIS OF BALANCE SHEET

Name: JEEVAN CHEMICALS & PHARMACEUTICALS (Amount Rs. In Lakhs)

Page 5
As per Profit & Loss account actuals/
estimates for the year ended/ending
LAST 2 YEARS
ACTUALS AS PER ACTUALS ESTIMATES ESTIMATES ESTIMATES
AUDITED ACCOUNTS
31.03.2017 31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
(1) (2) (3) (4) (5) (6)
TERM LIABILITIES

11. Debentures ( not maturing with in one year ) - - - - - -

12. Preference Shares
( redeemable after one year ) - - - - - -
13. Term loans (excluding instalments payable within one year)
Term Loan 69.36 61.28 86.03 78.91 73.97 69.56
Term Loan I and III
Term Loan II 8.48 2.42 64.52 70.00 70.00 70.00
Corporate Loan 12.50 6.98 14.86 10.74 6.02 -
14. Deferred Payment Credits
( excluding instalments due with in one year ) - - - -
15. Term deposits ( repayable after one year ) - - - - - -
16. Other term liabilities - Unsecured Loans 249.05 191.19 220.09 220.09 220.09 220.09
17. TOTAL TERM LIABILITIES 339.39 261.87 385.50 379.74 370.08 359.65
(Total of 11 to 16)
18. TOTAL OUTSIDE LIABILITIES ( 10 + 17 ) 393.45 342.84 446.45 410.74 396.08 387.15

NET WORTH
19. Share capital 116.73 170.62 206.13 263.50 345.95 453.93
20. General reserve
21. Revaluation Reserve
22. Other reserves ( excluding provisions )
23. Surplus (+) or deficit (-) in
Profit & Loss account - - - - - -
24. NET WORTH 116.73 170.62 206.13 263.50 345.95 453.93
25. TOTAL LIABILITIES ( 18 + 24 ) 510.18 513.46 652.58 674.24 742.03 841.08

Contd...6
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM - III : ANALYSIS OF BALANCE SHEET

Name: JEEVAN CHEMICALS & PHARMACEUTICALS (Amount Rs. In Lakhs)

Page 6
As per Profit & Loss account actuals/
estimates for the year ended/ending
LAST 2 YEARS
ACTUALS AS PER ACTUALS ESTIMATES ESTIMATES ESTIMATES
AUDITED ACCOUNTS
31.03.2017 31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
(1) (2) (3) (4) (5) (6)
CURRENT ASSETS

26. Cash and bank balances 6.01 0.84 0.64 1.89 5.28 13.51
27. Investments (other than long term Investments)
(I) Government & other trustee securities
(II) Fixed deposits with Banks
28. (I) Receivables other than deferred & exports 117.76 107.20 72.01 100.00 145.00 200.00
(Including bills purchased & discounted by bankers)
(II) Export receivables (Including bills - - - - - -
purchased/discounted by bankers
29. Instalments under deferred receivables - - - - - -
(due within one year)
30. Raw Materials( including stores & other items)
- Imported - - - - - -
- Indigeneous
Stocks in Process - - - - - -
Finished goods 42.12 32.48 68.00 65.00 70.00 80.00
Goods in Transit - - - - - -
Other consumable spares - - - - - -
31. Advances to suppliers of merchandise - - - -
32. Advance payment of taxes 1.00 2.00 0.75 2.50 5.00 10.00
33. Other current assets 0.25 2.55 - 6.00 12.00 18.00
(specify major Items)
34. TOTAL CURRENT ASSETS
(Total of 26 to 33) 167.14 145.07 141.40 175.39 237.28 321.51

Contd...7
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM - III : ANALYSIS OF BALANCE SHEET

Name: JEEVAN CHEMICALS & PHARMACEUTICALS (Amount Rs. In Lakhs)

Page 7
As per Profit & Loss account actuals/
estimates for the year ended/ending
LAST 2 YEARS
ACTUALS AS PER ACTUALS ESTIMATES ESTIMATES ESTIMATES
AUDITED ACCOUNTS
31.03.2017 31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
(1) (2) (3) (4) (5) (6)
FIXED ASSETS

35. Gross Block (land, building, machinery, furniture, fittings & vehicl 73.40 72.29 170.30 166.65 163.49 160.75
36. Depreciation to date 4.38 4.04 3.65 3.16 2.74 2.38
37. NET BLOCK (35-36) 69.02 68.25 166.65 163.49 160.75 158.37

OTHER NON-CURRENT ASSETS

38. Investments/book debt/advances / -
deposits which are not Current Assets
(I)(a) Investments in subsidiary companies / affiliates - - - - - -
(b) Others
(II) Advances to suppliers of capital goods and contractors - - - - - -
(III) Deferred receivables
(maturity exceeding one year) - - - - - -
(IV) Security deposits/tender deposits - - - - - -
(V) Others - - - - - -
39. Obsolete Stocks - - - - - -
40. Other non-current assets - - - - - -
(Incldg. dues from directors)
41. TOTAL OTHER NON-CURRENT ASSETS - - - - - -
(Total of 38 to 40)
42. Intangible assets (patents,goodwill,preliminary
expenses,bad/doubtful debts not provided for etc) - -
43. TOTAL ASSETS ( Total of 34,37,41 & 42 ) 236.16 213.32 308.05 338.88 398.03 479.88
44. TANGIBLE NET WORTH (24-42) 116.73 170.62 206.13 263.50 345.95 453.93
45. NET WORKING CAPITAL [(17+24)-(37+41+42)] 387.10 364.24 424.98 479.75 555.28 655.21
To tally with (34-10) 113.08 64.10 80.45 144.39 211.28 294.01
46. CURRENT RATIO (34/10) 3.09 1.79 2.32 5.66 9.13 11.69
47. TOTAL OUTSIDE LIABILITIES/TANGIBLE NET WORTH (18/44) 3.37 2.01 2.17 1.56 1.14 0.85
274.02 300.14 344.53 335.36 344.00 361.20
ADDITIONAL INFORMATION 274.02 300.14 344.53 335.36 344.00 361.20

48.(A) Arrears of depreciation - - - - - -

(B) Contingent Liabilities : - - - - - -
(a) Arrears of cumulative dividends - - - - - -
(b) Gratuity liability not provided for - - - - - -
(c) Disputed excise/customs tax liabilities - - - - - -
(d) Bills accepted/guarnatees extended to accommodate - - - - - -
associate / sister concerns or other third parties

Contd...8
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM - IV : COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

Name: JEEVAN CHEMICALS & PHARMACEUTICALS (Amount Rs. In Lakhs)

Page 8
As per Profit & Loss account actuals/
estimates for the year ended/ending
LAST 2 YEARS
ACTUALS AS PER ACTUALS ESTIMATES ESTIMATES ESTIMATES
AUDITED ACCOUNTS
31.03.2017 31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
A. CURRENT ASSETS
1. Raw Materials ( Including Stores and Spares)
Imported - - - - - -
( Months' consumption )
Indigeneous [Including Goods in Transit] - - - - - -
( Months' consumption) - - - - - -
2. Stocks in Process - - - - - -
( Months' cost of Production ) - - - - - -
3. Finished Goods 42.12 32.48 68.00 65.00 70.00 80.00
( Months' cost of sales ) (1.75) (1.32) (2.12) (1.70) (1.54) (1.53)
4. Other consumable spares - - - - - -
( Months' consumption) - - - - - -
5. Receivables other than export & deferred receivables 117.76 107.20 72.01 100.00 145.00 200.00
(incldg.bills purchased & discounted by bankers) - - - - - -
(Months' domestic sales) - - - - - -
6. Export receivables (incl.bills purch.& disc.) - - - - - -
7. Advances to suppliers of merchandise - - - - - -
8. Other current assets incl.cash & bank balances & deferred -
receivables due within one year (specify major items) 7.26 5.39 1.39 10.39 22.28 41.51
9. TOTAL CURRENT ASSETS (To agree with item 34 in Form - III) 167.14 145.07 141.40 175.39 237.28 321.51
- - - - - -
B. CURRENT LIABILITIES
(Other than bank borrowings for working capital)

10. Sundry Creditors ( Trade ) 46.69 75.07 47.99 24.00 25.00 26.00
(Months' purchases) (2.19) (3.77) (1.63) (0.76) (0.64) (0.59)
11. Advances from customers/deposits from dealers - - - - - -
12. Statutory liabilities [Including Provision for Taxation] - - - - - -
13. Other current liabilities (specify major items) -
Short Term borrowings, unsecured loans, dividend payable,
instalments of TL, DPG,public deposits, debentures etc.) 7.37 5.90 6.48 7.00 1.00 1.50
14. TOTAL ( To agree with sub total B Form - III ) 54.06 80.97 54.47 31.00 26.00 27.50

Contd...9
- - - - - -
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM - V : COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL [MPBF]

Name: JEEVAN CHEMICALS & PHARMACEUTICALS (Amount Rs. In Lakhs)

Page 9
As per Balance Sheet as at
31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
LAST CURRENT FOLLOWINGFOLLOWING FOLLOWING
YEAR YEAR YEAR YEAR YEAR
ACTUALS ACTUALS PROVISIONAL PROJECTIONPROJECTION
(1) (2) (3) (4) (5)
METHOD OF LENDING: I

1. TOTAL CURRENT ASSETS (9 in Form -IV) 167.14 141.40 175.39 237.28 321.51

2. Other Current Liabilities (Other than bank borrowing) 54.06 54.47 31.00 26.00 27.50

(14 of Form - IV)

3. Working capital gap (WCG) (1-2) 113.08 86.93 144.39 211.28 294.01

4. Minimum Stipulated Net Working Capital 28.27 21.73 36.10 52.82 73.50

i.e.25% of WCG

5. Actual/projected net working capital 364.24 424.98 479.75 555.28 655.21

(45 in Form III)

6. Item 3 minus Item 4 84.81 65.20 108.29 158.46 220.51

7. Item 3 minus Item 5 (251.16) (338.05) (335.36) (344.00) (361.20)

8. Maximum permissible bank finance [MPBF] (251.16) (338.05) (335.36) (344.00) (361.20)

(Item 6 or 7 whichever is lower)

9. Excess borrowings representing shortfall in

NWC (4-5) - - - - -

Contd…10
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM VI : FUNDS FLOW STATEMENT

Name: JEEVAN CHEMICALS & PHARMACEUTICALS (Amount Rs. In Lakhs)

Page 10
As per Balance Sheet as at
31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
LAST CURRENT FOLLOWING FOLLOWING FOLLOWING
YEAR YEAR YEAR YEAR YEAR
ACTUALS ACTUALS PROVISIONALPROJECTION PROJECTION
(1) (2) (3) (4) (5)
1. SOURCES
a) Net Profit (after tax) 28.56 36.03 43.39 51.15 62.61
b) Depreciation 4.04 3.65 3.16 2.74 2.38
c) Miscellaneous Expenditure Written off - - - - -
d) Increase in capital 53.89 35.51 57.37 82.45 107.98
e) Increase in Term Liabilities (Including public deposits) - 123.63 - - -
f) Decrease In:
I) Fixed Assets 1.11 - 3.65 3.16 2.74
II) Other non-current assets - - - - -
g) Others - - - - -
g) TOTAL 87.60 198.82 107.57 139.50 175.71
2. USES
a) Net loss - - - - -
b) Decrease in Term Liabilities (Including public deposits) 77.52 - 5.76 9.66 10.43
c) Increase In :
I) Fixed Assets - 98.01 - - -
II) Other non-current assets - - - - -
d) Dividend payments - - - - -
e) Others 28.56 36.03 43.39 51.15 62.61
f) TOTAL 106.08 134.04 49.15 60.81 73.04
3. Long Term Surplus (+) / Deficit (-) [1 - 2] (18.48) 64.78 58.42 78.69 102.67
4. Increase/decrease in current assets (as per details given below) (22.07) (3.67) 33.99 61.89 84.23
5. Increase/decrease in current liabilities other than bank borrowings 26.91 (26.50) (23.47) (5.00) 1.50
6. Increase/decrease in Working Capital Gap 48.98 (22.83) (57.46) (66.89) (82.73)
7. Net surplus (+)/deficit (-) [Difference of 3 and 6] 30.50 41.95 0.96 11.80 19.94
8. Increase/decrease in Bank borrowings - - - - -
INCREASE/DECREASE IN NET SALES 30.06 97.11 92.19 100.00 110.00
Break-up of (4)
i) Increase/Decrease in stock-in-trade (9.64) 35.52 (3.00) 5.00 10.00
ii) Increase/Decrease in Receivables
a) Domestic - - - - -
b) Export - - - - -
iii) Increase/Decrease in other current assets (1.87) (4.00) 9.00 11.89 19.23
NOTE : Increase/decrease under items 4 to 8 as also under
break-up of (4) should be indicated by (+) / (-) 11 35 (27.99) (45.00) (55.00)
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

RATIO ANALYSIS

Name: JEEVAN CHEMICALS & PHARMACEUTICALS

Page 11
As per Profit & Loss account actuals/
estimates for the year ended/ending
LAST 2 YEARS
ACTUALS AS PER ACTUALS PROVISIONAL PROJECTIONPROJECTION
AUDITED ACCOUNTS
Usual 31.03.2017 31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
Norm (1) (2) (3) (4) (5) (6)

EFFICIENCY RATIOS:
Net Sales / Total Tangible Assets (Times) >1.50 1.44 1.74 1.52 1.65 1.66 1.60
PBT / TTA (%) >5.00% 9.50% 13.39% 11.70% 12.80% 12.85% 13.05%
Operating Cost / Net Sales (%) <75.00% 93.57% 92.71% 92.30% 92.25% 92.25% 91.87%
Bank Finance / Current Assets (%) <50.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Inventory+Receivables / Net Sales (Days) <60 Days 45 32 53 42 39 38

LIQUIDITY RATIOS:
Current Ratio >1.33 3.09 1.79 2.32 5.66 9.13 11.69
Acid Test Ratio >1.00 2.31 1.39 1.20 3.56 6.43 8.78
Bank Finance to WCG Ratio <0.75 - - - - - -

LEVERAGE RATIOS:
Debt Equity Ratio <2.00 2.91 1.53 1.87 1.44 1.07 0.79
TOL / TNW <3.00 3.37 2.01 2.17 1.56 1.14 0.85
Debt-Assets Ratio <0.60 1.44 1.23 1.25 1.12 0.93 0.75
Fixed Assets Coverage <0.60 4.92 3.84 2.31 2.32 2.30 2.27
Interest Coverage Ratio >2.00 4.31 4.56 6.72 5.89 6.57 7.61

TURNOVER RATIOS:
Inventory Turnover Period (Days) <30 Days 45 32 53 42 39 38
Average Collection Period (Days) <30 Days - - - - - -
Total Assets Turnover (Times) >1.00 1.44 1.74 1.52 1.65 1.66 1.60
Average Credit Period (Days) - Creditors <30 Days 67 115 50 23 20 18
Bank Finance Turnover (Times) >5.00 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Current Assets Turnover (Times) >3.00 2.04 2.56 3.31 3.19 2.78 2.39

PROFITABILITY RATIOS:
Net Profit Margin after tax (%) >5.00% 6.59% 7.70% 7.70% 7.75% 7.75% 8.13%
Net Income to Assets Ratio (%) >10.00% 9.50% 13.39% 11.70% 12.80% 12.85% 13.05%
Return on Investment (%) [PBDIT/TTA] >20.00% 17.87% 20.85% 17.03% 18.25% 17.33% 16.65%
Return on Equity (%) >18.00% 19.22% 16.74% 17.48% 16.47% 14.79% 13.79%
Operating Profitability (%) >20.00% 6.43% 7.29% 7.70% 7.75% 7.75% 8.13%
Pre-Tax Profitability (%) >15.00% 6.59% 7.70% 7.70% 7.75% 7.75% 8.13%
PBT / TTA (%) >10.00% 9.50% 13.39% 11.70% 12.80% 12.85% 13.05%

STRUCTURAL RATIOS:
Retained Profit (%) >20.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Raw Material Content (%) <50.00% 88.14% 83.32% 83.87% 83.44% 84.54% 83.17%
Operating Cost / Sales (%) <75.00% 93.57% 92.71% 92.30% 92.25% 92.25% 91.87%

Signs:
< = Less Than
> = More Than
CALCULATION OF TERM LOAN INTEREST AND REPAYMENT SCHEDULE
Rate of Interest on Loan : 18.5

YEAR QUARTER OPENING INTEREST TOTAL LOAN REPAYMENT CLOSING ANNUAL

ENDED BALANCE INTEREST PRINCIPAL BALANCE INTEREST
Rs. Rs. Rs. Rs. Rs. Rs. Rs.
0 1999 December 20 0 20 0 0 20 0
1 2000 March 20 92.5 112.5 92.5 0 20
June 20 92.5 112.5 92.5 0 20
September 20 92.5 112.5 92.5 0 20
December 20 92.5 112.5 92.5 1.000 59.000 370
2 2001 March 59 272.875 331.875 272.875 3.000 56
June 56 259 315 259 3.000 53
September 53 245.125 298.125 245.125 3.000 50
December 50 231.25 281.25 231.25 3.000 47 1008.25
3 2002 March 47 217.375 264.375 217.375 3.000 44
June 44 203.5 247.5 203.5 3.000 41
September 41 189.625 230.625 189.625 3.000 38
December 38 175.75 213.75 175.75 3.000 35 786.25
4 2003 March 35 161.875 196.875 161.875 3.000 32
June 32 148 180 148 3.000 29
September 29 134.125 163.125 134.125 3.000 26
December 26 120.25 146.25 120.25 3.000 23 564.25
5 2004 March 23 106.375 129.375 106.375 3.000 20
June 20 92.5 112.5 92.5 3.000 17
September 17 78.625 95.625 78.625 3.000 14
December 14 64.75 78.75 64.75 3.000 11 342.25
6 2005 March 11 50.875 61.875 50.875 3.000 8
June 8 37 45 37 3.000 5
September 5 23.125 28.125 23.125 3.000 2
December 2 9.25 11.25 9.25 0.000 2 120.25

TOTAL 3191.25 58 3191.25

CALCULATION OF WORKING CAPITAL LOAN INTEREST

Rate of Interest on Loan : 0.125

YEAR MONTH OPENING INTEREST

BALANCE
1999 December 38.924 1.86 100
2000 December 135 16.875 100
2001 December 135 16.875 100
2002 December 78 9.75 100
2003 December 78 9.75 100
2004 December 78 9.75 100
2005 December 78 9.75 100

::