Feasibility Study Checklist

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1. Understand Clients requirement

What is the capital the company is willing to employ? Required IRR, ROIC & CoC How long are they willing to wait Breakeven? Risk Appetite

2. Industry & Business Model

How does the company generate revenues? How is business sourced? Bidding or Retailing? Wholesale or Direct? Production cycle? Intermediaries involved in the business? Overall demand/supply of the industry? What is the TAM & SAM in the industry? Last 10 year demand/supply/gap trend Demand/Supply/Gap by geography Demand/Supply drivers What is the degree of elasticity of demand? Get estimates by governing body of the particular industry Get estimates from Industry association Get analyst estimates Build 5-10 year demand-supply model Capital Outlay Human/Financial Capital requirement? Technological investments? Land requirement? Lease/Buy? Machinery requirement? Working capital cycle and sources of such funds? Supplier Credit & Debtor Policies in the sector? Types of Working capital loans available & industry norms ECB restrictions Are there any natural entry barriers? Technological or Intellectual barriers? Capital intensive? Labor issues Strikes, Lockouts etc Very long breakeven period? Poor ROIC/margins? High cyclicity? What is the degree of elasticity of demand? Are there any supply constraints e.g. resource depletion? Or government restriction? Which areas are the raw materials sourced from? How far are the raw material sources - from processing plant and from final delivery point? What are the Logistics involved? What is the cost of each type? Competitive environment & Peer analysis List of players involved by region

Market share & Margins of each Degree of fragmentation & concentration? Clean competition, Monopolistic competition or Oligopoly? Consolidation trends (M&A trends) Import/Export scenario International demand/supply scenario and domestic impact Are raw materials imported? If yes what is the % contribution of imports to total domestic production? Are exports of final product allowed? Regulatory environment Entry barriers and norms? FDI/FII policy? Tax laws and holidays (if any)? Government entities in the business and their market share? Priority sector allocation (if any)?

3. Identify Exhaustive list of influencing factors under each head

Business & Industry Financial Key Risks/Threats

4. Business model incorporating the above

Sheet Sheet Sheet Sheet Sheet Sheet Sheet Sheet Sheet 1 Sector Snapshot and Recommendation 2 Industry Demand Supply model 2 Revenue Build-up | Capacity based supply (i.e. How much capacity can they buy) 2 Revenue Build-up | Implied Market share (Regional and National) 3 Cost Build up 4 Scenario Build up| Base / Best / Worst Case 5-10 Financials | IS, BS, CF & Schedules 11 Performance Analysis 12 Return & Sensitivity Analysis

5. Presentation (5-10 pager)