Name of Company

Vegetron Limited

Currency-Rs.in (M,Cr,)

Rs. In Million

Reporting Period

Yearly

No. of Year
Projected Year-1
Projected Year-2
Projected Year-3
Projected Year-4
Projected Year-5
Projected Year-6
Projected Year-7
Projected Year-8
Projected Year-9
Projected Year-10

1Y
2Y
3Y
4Y
5Y
6Y
7Y
8Y
9Y
10Y

Note:
In this entire file, all those cells that are
filled with yellow colour, are the basic
inputs. So they have to be filled with
appropriate data. Rest of the cells are
calculated through formulas.

ll those cells that are

, are the basic
ave to be filled with
Rest of the cells are
ough formulas.

Vegetron Limited
Cost of Project and Means of Finance
Rs. In Million
Cost of Project
Land and site development
Building
Plan and Machinery
Miscellaneous Fixed assets
Preliminary Expenses
Pre-Operative expenses
(including interest
during construction)
Contingency margin
Working capital margin

10.00
15.00
62.00
4.00
2.00
11.50

8.00
8.50
Total

121.00

Means of Finance
Share Capital

50.00

Term Loans

60.00

State Governments Spicial

incentive loan( Repayable in
6 installments after 12 years)

11.00

Total

121.00

Vegetron Limited
Interest on Term Loan
Loan Amount ( Rs. In M ) 60.00
Installment No.
16
HY installment
Rate of Interest
12%

HYL

Year

Loan
o/s at
the
beginning

Loan inst.
paid
for first
half year

Loan inst.
paid
for second
half year

Loan o/s
at the end
of the first
half year

1Y
2Y
3Y
4Y
5Y
6Y
7Y
8Y
9Y
10Y

60.00
60.00
56.25
48.75
41.25
33.75
26.25
18.75
11.25
3.75

3.75
3.75
3.75
3.75
3.75
3.75
3.75
3.75

3.75
3.75
3.75
3.75
3.75
3.75
3.75
3.75
-

60.00
60.00
52.50
45.00
37.50
30.00
22.50
15.00
7.50
-

Loan o/s
at the end
of the
second
half year
6
60.00
56.25
48.75
41.25
33.75
26.25
18.75
11.25
3.75
-

Rs. In Million
Int. for the
first half
year

7
3.60
3.60
3.38
2.93
2.48
2.03
1.58
1.13
0.68
0.23

Rs. In Million
Int. for the
second half
year

Total int.
for the
term loan

9=7+8
3.60
3.60
3.15
2.70
2.25
1.80
1.35
0.90
0.45
-

7.20
7.20
6.53
5.63
4.73
3.83
2.93
2.03
1.13
0.23

Vegetron Limited
Working Capital Requirements
Margin of WC
Sr.No.
A
1
2
3
4

Item

Raw Materials(Including Consumables)

Stock-in-Process
Finished Goods
Book Debts *
Total Current Assets

25%
Norms in
Months
1.50
0.03
0.50
1.00

Less : Margin for Working Caiptal from

Long term Sources(25% of Total Current
Assets)

1Y

Rs. In Million
2Y
3Y

14.04
0.32
5.34
14.40
34.10

16.85
0.38
6.38
17.28
40.89

19.66
0.45
7.46
20.16
47.72

8.53

10.22

11.93

Less : Trade Credit for Raw Materials

and Consumable Stores

0.50

4.68

5.62

6.55

Bank Finance for Working Capital

(A-B-C)

20.90

25.05

29.24

Book debts include exicse duty. However, for the sake of simplicity we have ignored excise duty here.

cise duty here.

Vegetron Limited
Total Assets
Preoperative Expenses
Contingency Margin

Rate_Companies Act (SLM)

Rate_ I T Act (WDV)

Building

P&M

Misc.Assets

3.34%
10.00%

7.42%
15.00%

7.42%
15.00%

NEW RATES
Rate_Companies Act (SLM)
Rate_ I T Act (WDV)
Additional Dep. In the 1st Yr_IT Act

A. Asset Valuation For Depreciation Purposes

Asset

Basic
Cost

Land
Building
Plant & Machinery
Miscellaneous Fixed Assets
Total

Share of
Preoperative
Expenses

Rs. In Million
Share of
Total
Contingency
Cost
Margin

10.00
15.00
62.00
4.00

1.26
1.90
7.84
0.51

0.88
1.32
5.45
0.35

12.14
18.21
75.29
4.86

91.00

11.50

8.00

110.50

Depreciation Schedules
B. Depreciation Schedule for Company Law Purpose (Straight Line Method)
Assets
1Y
2Y
3Y
4Y
Building
Plant & Machinery
Miscellaneous Fixed Assets
Total Depreciation

0.608
w
0.360
0.969

0.608
5.586
0.360
6.555

0.608
5.586
0.360
6.555

0.608
5.586
0.360
6.555

C. Depreciation Schedule for Income Tax Purpose (Written Down Value Method)
Assets
1Y
2Y
3Y
4Y
Building
Plant & Machinery
Miscellaneous Fixed Assets
Total Depreciation

1.821
11.293
0.729
13.843

1.639
9.599
0.619
11.858

1.475
8.159
0.526
10.161

1.328
6.935
0.447
8.710

5Y
0.608
5.586
0.360
6.555

5Y
1.195
5.895
0.380
7.470

NEW RATES

Building

Rate_Companies Act (SLM)

Rate_ I T Act (WDV)
Additional Dep. In the 1st Yr_IT Act

P & M Misc.Assets

0.0334
0.1000

0.0809
0.1500
0.2000

8Y

9Y

0.0475
0.1500

SLN
DB

6Y
0.608
5.586
0.360
6.555

6Y
1.076
5.011
0.323
6.410

7Y
0.608
5.586
0.360
6.555

7Y
0.968
4.259
0.275
5.502

0.608
5.586
0.360
6.555

8Y
0.871
3.620
0.234
4.725

0.608
5.586
0.360
6.555

9Y
0.784
3.077
0.199
4.060

10Y
0.608
5.586
0.360
6.555

10Y
0.706
2.616
0.169
3.490

Vegetron Limited
Preliminary Expenditure Written Off

Preliminary Expenditure
Base For Written Off
Particulars
Preliminary Exp.

(Rs.In M)
No.Year
1Y

2Y
0.4
0.4

2.00
5
3Y

0.4
0.4

4Y
0.4
0.4

5Y
0.4
0.4

6Y
0.4
0.4

7Y
0.4
0

0.4
0

Rs. In Million
9Y
10Y

8Y
0.4
0

0.4
0

0.4
0

Vegetron Limited
Tax Calculation
Rate of Income Tax

30%

Particulars

1Y

2Y

3Y

4Y

5Y

6Y

7Y

Profit/Loss Before Tax

14.50

14.60

19.96

20.23

20.46

20.66

20.83

0.97

6.55

6.55

6.55

6.55

6.55

6.55

15.47

21.16

26.52

26.78

27.02

27.22

27.38

13.84

11.86

10.16

8.71

7.47

6.41

5.50

1.63

9.30

16.35

18.07

19.55

20.81

21.88

Add: Depreciation As per

Company Law Purposes
Sub-Total
Less: Depreciation As per
Income Tax Law
Sub-Total

Gross total Income

1.63

9.30

16.35

18.07

19.55

20.81

21.88

Income Tax

0.49

2.79

4.91

5.42

5.86

6.24

6.56

For calculating the income tax only the basic rate is considered. The surcharge has been ignored because it tends to very from
-10.00
9.30
16.35
18.07
19.55
20.81
21.88
0.0
0.0
15.7
33.7
53.3
74.1
96.0

8Y

Rs. In Million
9Y
10Y

20.96

21.04

21.09

6.55

6.55

6.55

27.51

27.60

27.65

4.72

4.06

3.49

22.79

23.54

24.16

22.79

23.54

24.16

6.84

7.06

7.25

nored because it tends to very from year to year.

22.79
23.54
24.16
118.7
142.3
166.4

Vegetron Limited

Profitability Estimates ( Estimates of Working Results)

1Y
Installed Capacity(TPA)
Utilised Capacity( TPA)
Sales Price Per KG Rs.
Cost of Raw Materials (on Sales)
Cost of Power (on Sales)
Wages ( After 3rd Y raise rate)
Factory Overhead(After 1y raise)
Administation Expenditure
Selling Expenditure(on Sales)
Interest on short-term bank borrowing
Rate of Dividiend
Particulars
Installed Capacity(TPA)
Production( Tonnes)

2880
50%
120
65%
4%
5%
6%
1
10%
13%
0%
1Y

2Y
2880
60.0%
120
65%
4%

3Y
2880
70.0%
120
65%
4%

4Y
2880
70%
120
65%
4%

1
10%
13%
12%

1
10%
13%
12%

1
10%
13%
14%

2Y

3Y

4Y

2,880.00
1,440.00

2,880.00
1,728.00

2,880.00
2,016.00

2,880.00
2,016.00

Sales Realisation (Net of excise)

172.80

207.36

241.92

241.92

Cost of Production
Raw materials
Power
Wages & Slaries
Factory overheads

112.32
6.91
9.00
0.50

134.78
8.29
10.00
0.53

157.25
9.68
12.00
0.56

157.25
9.68
12.60
0.60

Administration and Selling

expenditures
Administration expedniture
Selling Expenses

1.00
17.28

1.00
20.74

1.00
24.19

1.00
24.19

Gross Profit Before Interest

25.79

32.02

37.24

36.61

Total Financial Expenses

Interest on term Loans
Interest on Bank Borrowing

7.20
2.72

7.20
3.26

6.53
3.80

5.63
3.80

Depreciation ( As per Com.Law)

0.97

6.55

6.55

6.55

Operating Profit

14.90

15.00

20.36

20.63

Preliminary Expenses
Written Off

0.40

0.40

0.40

0.40

Profit/Loss Before Tax

14.50

14.60

19.96

20.23

Provision for Tax

0.49

2.79

4.91

5.42

Profit after Tax

14.01

11.81

15.05

14.81

Less : Dividend

0.00

6.00

6.00

7.00

Retained Profit

14.01

5.81

9.05

7.81

Add.: Depreciation & Pre.Exp.W.Off

i. Depreciation
ii. Preliminary Exp.written off

0.97
0.40

6.55
0.40

6.55
0.40

6.55
0.40

15.38
15.38

12.77
18.77

16.01
22.01

14.76
21.76

0.10
0.11
0.12
0.13
0.14
0.15
0.16
0.17
0.18
0.19
0.20

50.40
50.40
50.40
50.40
50.40
50.40
50.40
50.40
50.40
50.40
50.40
50.40

Net Cash Accruals (M+Ni+Nii)

Operating Cash Inflow (K+Ni+Nii)

Project Appraisal
Cost of Equity
NPV
IRR
DSCR
Avg. DSCR

15%
50.40

Cash Flows

5Y
2880
70%
120
65%
4%

6Y
2880
70%
120
65%
4%

7Y
2880
70%
120
65%
4%

8Y
2880
70%
120
65%
4%

1
10%
13%
14%

1
10%
13%
16%

1
10%
13%
16%

1
10%
13%
18%

5Y

6Y

7Y

8Y

9Y
2880
70%
120
65%
4%

10Y
2880
70%
120
65%
4%

1
1
10%
10%
13%
13%
18%
20%
Rs. In Million
9Y
10Y

2,880.00
2,016.00

2,880.00
2,016.00

2,880.00
2,016.00

2,880.00
2,016.00

2,880.00
2,016.00

2,880.00
2,016.00

241.92

241.92

241.92

241.92

241.92

241.92

157.25
9.68
13.23
0.63

157.25
9.68
13.89
0.67

157.25
9.68
14.59
0.71

157.25
9.68
15.32
0.75

157.25
9.68
16.08
0.80

157.25
9.68
16.89
0.84

1.00
24.19

1.00
24.19

1.00
24.19

1.00
24.19

1.00
24.19

1.00
24.19

35.94

35.24

34.51

33.74

32.93

32.07

4.73
3.80

3.83
3.80

2.93
3.80

2.03
3.80

1.13
3.80

0.23
3.80

6.55

6.55

6.55

6.55

6.55

6.55

20.86

21.06

21.23

21.36

21.44

21.49

0.40

0.40

0.40

0.40

0.40

0.40

20.46

20.66

20.83

20.96

21.04

21.09

5.86

6.24

6.56

6.84

7.06

7.25

14.60

14.42

14.26

14.12

13.98

13.85

7.00

8.00

8.00

9.00

9.00

10.00

7.60

6.42

6.26

5.12

4.98

3.85

6.55
0.40

6.55
0.40

6.55
0.40

6.55
0.40

6.55
0.40

6.55
0.40

14.55
21.55

13.37
21.37

13.22
21.22

12.07
21.07

11.94
20.94

10.80
20.80

50.40
0.10
0.11
0.12
0.13
0.14
0.15
0.16
0.17
0.18
0.19
0.20

0.60
90.31
90.31
90.31
90.31
90.31
90.31
90.31
90.31
90.31
90.31
90.31

0.61
82.33
82.33
82.33
82.33
82.33
82.33
82.33
82.33
82.33
82.33
82.33

0.62
74.34
74.34
74.34
74.34
74.34
74.34
74.34
74.34
74.34
74.34
74.34

0.63
66.36
66.36
66.36
66.36
66.36
66.36
66.36
66.36
66.36
66.36
66.36

0.64
58.38
58.38
58.38
58.3792325
58.3792325
58.3792325
58.38
58.38
58.38
58.38
58.38

0.65
50.40
50.40
50.40
50.40
50.40
50.40
50.40
50.40
50.40
50.40
50.40

0.66
42.4136644
42.4136644
42.4136644
42.4136644
42.4136644
42.4136644
42.41
42.4136644
42.4136644
42.4136644
42.4136644

0.67
34.43088
34.43088
34.43088
34.43088
34.43088
34.43088
34.43
34.43088
34.43088
34.43088
34.43088

0.68
26.4481
26.4481
26.4481
26.4481
26.4481
26.4481
26.4481
26.4481
26.4481
26.4481
26.4481

0.69
18.46531
18.46531
18.46531
18.46531
18.46531
18.46531
18.46531
18.46531
18.46531
18.46531
18.46531

0.70
10.48253
10.48253
10.48253
10.48253
10.48253
10.48253
10.48253
10.48253
10.48253
10.48253
10.48253

Vegetron Limited
Projected Cash Flow Statements

Particulars

Construction
Period

1Y

2Y

3Y

4Y

5Y

6Y

7Y

24.42

25.06

30.29

29.65

28.99

28.29

27.55

Depreciation

0.97

6.55

6.55

6.55

6.55

6.55

6.55

Preliminary Expenses
Written off

0.40

0.40

0.40

0.40

0.40

0.40

0.40

20.90

4.15

4.19

46.69

36.17

41.43

36.61

35.94

35.24

34.51

0.00

3.75

7.50

7.50

7.50

7.50

7.50

29.42

5.85

5.89

7.20
2.72

7.20
3.26

6.53
3.80

5.63
3.80

4.73
3.80

3.83
3.80

2.93
3.80

Source of Funds
Share Issue
Profit Before taxation
with Interest added
back

Increase in Secured
medium and long term
borrowings

50.00

60.00

Increase in bank
Borrowing for Working
Capital
Increase in the state
Govt's Special Incentive
Loan
Total ( A )

11.00
121.00

Disposition of Funds
Capital Expenditure
for the Project

110.50

Decrease in Secured
medium and long term
borrowings
Increase in Working
Capital
Preliminary Expen.

Interest on LT Borrow
Interest on WC

2.00

Taxation

0.49

2.79

4.91

5.42

5.86

6.24

6.56

Dividiend Paid

0.00

6.00

6.00

7.00

7.00

8.00

8.00

112.50

39.83

28.85

34.63

29.35

28.89

29.37

28.79

8.50

8.50
6.86

15.36
7.32

22.68
6.80

29.48
7.26

36.74
7.05

43.79
5.87

49.67
5.72

8.50

15.36

22.68

29.48

36.74

43.79

49.67

55.39

Total ( B )
Opening Balance of
Cash in Hand and at
Bank
Net Surplus/Deficit(A-B)
Closing Balance of
Cash in hand and at
bank

Rs. In Million
8Y

9Y

10Y

26.78

25.97

25.12

6.55

6.55

6.55

0.40

0.40

0.40

33.74

32.93

32.07

7.50

7.50

3.75

2.03
3.80

1.13
3.80

0.23
3.80

6.84

7.06

7.25

9.00

9.00

10.00

29.16

28.49

25.02

55.39
4.57

59.96
4.44

64.40
7.05

59.96

64.40

71.45

Vegetron Limited
Projected Balance Sheets

At the end of
construction
period

1Y

2Y

3Y

Liabilities
Share Capital

50.00

50.00

50.00

50.00

14.01

19.83

28.88

60.00

60.00
20.90

56.25
25.05

48.75
29.24

11.00

11.00

11.00

11.00

4.68

5.62

6.55

121.00

160.59

167.74

174.42

110.50
110.50

110.50
0.97
109.53

110.50
7.52
102.98

110.50
14.08
96.42

Carrent Assets, Loans & Advances

Raw materials
Stock in process
Finished Goods
Bcok debts
Cash and Bank Balance

8.50

14.04
0.32
5.34
14.40
15.36

16.85
0.38
6.38
17.28
22.68

19.66
0.45
7.46
20.16
29.48

Miscellaneous Expenditure and

Losses
Preliminary expenses

2.00

1.60

1.20

0.80

121.00

160.59

167.74

174.42

Reserve & Surplus

Secured Loan
Term Loan
Working capital adv.
Unsecured Loans
State Govt. Loan
Current Liabilities and Provisions
Trade credit
Total

Assets
Fixed Assets
Gross block
Less : Accumulatad Depreciation
Net Fixed assets
Investments

Total

4Y

5Y

6Y

7Y

Rs. In Million
9Y

8Y

10Y

50.00

50.00

50.00

50.00

50.00

50.00

50.00

36.69

44.28

50.70

56.97

62.09

67.07

70.91

41.25
29.24

33.75
29.24

26.25
29.24

18.75
29.24

11.25
29.24

3.75
29.24

0.00
29.24

11.00

11.00

11.00

11.00

11.00

11.00

11.00

6.55

6.55

6.55

6.55

6.55

6.55

6.55

174.73

174.82

173.74

172.51

170.13

167.61

167.70

110.50
20.63
89.87

110.50
27.19
83.31

110.50
33.74
76.76

110.50
40.30
70.20

110.50
46.85
63.65

110.50
53.41
57.09

110.50
59.96
50.54

19.66
0.45
7.46
20.16
36.74

19.66
0.45
7.46
20.16
43.79

19.66
0.45
7.46
20.16
49.67

19.66
0.45
7.46
20.16
55.39

19.66
0.45
7.46
20.16
59.96

19.66
0.45
7.46
20.16
64.40

19.66
0.45
7.46
20.16
71.45

0.40

0.00

(0.40)

(0.80)

(1.20)

(1.60)

(2.00)

174.73

174.82

173.74

172.51

170.13

167.61

167.70