CMA Sagar Industries

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: M/s Sagar Industries, Naroda, Ahmedabad
( Rs.in lakhs )
Sl. NAME OF BANK / FINANCIALNATURE OF FACILITY
No.
INSTITUTION
EXISTING EXTENT TO WHICH LIMITS

BAL.O/S
LIMITS NOW
LIMITS
WERE UTILISED DURING
AS ON
REQUESTED
LAST 12 MONTHS
31st March, 2015
MAX.
MIN.
A. WORKING CAPITAL LIMITS:

FUND BASED
Cash Credit
0.00
0.00
50.00
50.00
WORKING CAPITAL ASSESSMENT
NON FUND BASED
B. TERM LOANS/DPGS
EXCLUDING WORKING
CAPITAL TERM LOANS
TOTAL
CREDIT MONITORING ARRANGEMENT

FORM II : OPERATING STATEMENT
Page 1
(Amount Rs. )
As per Profit & Loss account actuals/
estimates for the year ended/ending
ACTUALS
31.03.2013
(1)
1) GROSS INCOME:
I) Sales (net of returns)
a) Domestic Sales
b) Labour Income
c) Sub-total (a+b)
Net Sales
d) Percentage rise (+) or fall (-) in sales turnover as
compared to previous year
II) Other Direct Income
III) Total (I) + (II)
2. COST OF SALES:
I) Cost of Sales
II) Depreciation
Sub-total (I to III)
ACTUALS ACTUALS
31.03.2014
(2)
ESTIMATES
31.03.2015
(3)
31.03.2016
(4)
ESTIMATES
31.03.2017
(5)
101.70
0.00
101.70
85.07
0.00
85.07
176
0
176
220
0
220
275
0
275
101.70
85.07
176
220
275
-0.16
106.90%
24.99%
24.99%
101.70
85.07
176
220
275
85.25
66.80
155
190
240
6.28
91.53
8.06
74.86
6.31
161
7
197
7
247
Contd...2

FORM II : OPERATING STATEMENT
(Amount Rs. )
Page 2
IV) Add : Opening stock of W.I.P.

V) Sub-total (III+IV)
VI) Less : Closing Stock W.I.P.
VII) Sub-total (V-VI)( Total Cost of Production )
VIII) Add : Opening stock of Finished Goods
IX) Sub-total (VII+VIII)
X) Less : Closing Stock of Finished Goods
IV) Sub-total ( Total cost of Sales )
ACTUALS
ACTUALS
ACTUALS
31.03.2013
(1)
31.03.2014
(2)
31.03.2015
(3)
ESTIMATES
ESTIMATES
31.03.2016
(4)
31.03.2017
(4)
0.00
91.53
0.00
74.86
0
161
0
197
0
247
91.53
74.86
161
197
247
91.53
74.86
161
197
247
91.53
0.90
0.11
74.86
0.88
161
1
1.74
197
1
2
247
1
2
10.06
0.10
10.21
0.12
13
0
21
0
26
0
5. INTEREST AND FINANCIAL CHARGES

- Interest on Working Capital Loan
- Interest on Loan
4.30
3.99
3.45
6.00
3.11
6.00
2.79
6. OPERATING PROFIT AFTER INTEREST [4 - 5 ]
5.76
6.22
10
12
17
0.78
0.17
3. SELLING, GENERAL & ADMINISTRATIVE EXPENSES

4. OPERATING PROFIT BEFORE INTEREST[1(III) - 2(IV) - 3]
7. I) Add: Other non-operating Income

8. PROFIT BEFORE TAX / (LOSS)
5.76
7.00
10
12
17
9. NET PROFIT/LOSS (6-7)
5.76
0.06
7.00
0.08
9.64
0
12
0
17
PBT to Sales %
Contd...3

FORM - III : ANALYSIS OF BALANCE SHEET
(Amount Rs. )
Page 3
ACTUALS
ACTUALS
31.03.2013
(1)
31.03.2014
(2)
ACTUALS
31.03.2015
(3)
ESTIMATES
ESTIMATES
31.03.2016
(4)
31.03.2017
(5)
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 -1
(c) from other banks -2
Sub-total (A)
2. Short term borrowings from others
3. Sundry Creditors (Trade)
4. Advance payments from customers / deposits from dealers
5. Provisions
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
(due with in one year)
(Specify major Items)
Sub-total (B)
10. TOTAL CURRENT LIABILITIES [ Total of 1 to 9]
50.00
50.00
13.37
21.20
1.54
15.12
4.38
4.48
52.36
250.32
6.71
50.00
57.60
1.71
4.28
50.00
105.00
1.88
4.71
36.11
36.11
23.98
23.98
309.40
309.40
63.58
113.58
111.59
161.59
Contd4

(Amount Rs. )
Page 4
TERM LIABILITIES
11. Term loans (excluding instalments payable within one year)
Term Loan
12. Deferred Payment Credits
( excluding instalments due with in one year )
13. Term deposits ( repayable after one year )
14. Other term liabilities - Unsecured Loans
15. TOTAL TERM LIABILITIES
(Total of 11 to 15)
16. TOTAL OUTSIDE LIABILITIES ( 10 + 15 )
ACTUALS
ACTUALS
31.03.2013
(1)
31.03.2014
(2)
28.33
28.85
28.33
29.93
58.78
64.44
ACTUALS
31.03.2015
(3)
23.21
ESTIMATES
ESTIMATES
31.03.2016
(4)
31.03.2017
(4)
18.57
14.85
6.47
29.68
17.00
35.57
20.00
34.85
82.76
339.08
149.15
196.44
8.27
10.00
44.24
41.24
37.24
5.76
14.03
78.47
7.00
17.00
99.76
9.64
53.88
392.96
12.15
53.39
202.54
17.19
54.43
250.87
NET WORTH
17. Capital
18. General reserve
19. Revaluation Reserve
20. Other reserves ( excluding provisions )
21. Surplus (+) or deficit (-) in
Profit & Loss account
22. NET WORTH
23. TOTAL LIABILITIES ( 16 + 21 )
Contd5

Page 5
(Amount Rs. )
ACTUALS
ACTUALS
31.03.2013
(1)
31.03.2014
(2)
ACTUALS
31.03.2015
(3)
ESTIMATES
ESTIMATES
31.03.2016
(4)
31.03.2017
(4)
CURRENT ASSETS
24. Cash and bank balances
25. Investments (other than long term Investments)
(I) Government & other trustee securities
(II) Fixed deposits with Banks
26. (I) Receivables other than deferred & exports
(Including bills purchased & discounted by bankers)
(II) Export receivables (Including bills
purchased/discounted by bankers
27. Instalments under deferred receivables
(due within one year)
28. Inventory
- Imported
- Indigeneous
Trading goods
Other consumable spares
29. Advances to suppliers of merchandise
30. Advance payment of taxes
31. Other current assets
(specify major Items)
32. TOTAL CURRENT ASSETS
(Total of 26 to 31)
15.35
3.86
82.41
10.00
10.00
11.75
-
5.33
-
49.49
65.94
-
85.43
-
12.48
-
23.61
-
26.36
167.43
36.00
17.00
38.60
43.00
3.71
3.91
43.29
36.71
128.94
177.02
325.69
Contd6

(Amount Rs. )
Page 6
ACTUALS
ACTUALS
31.03.2013
(1)
31.03.2014
(2)
ACTUALS
31.03.2015
(3)
ESTIMATES
ESTIMATES
31.03.2016
(4)
31.03.2017
(4)
FIXED ASSETS
33. Gross Block (land, building, machinery, furniture, fittings & vehicles)
34. Depreciation
35. NET BLOCK (33-34)
OTHER NON-CURRENT ASSETS
36. Investments/book debt/advances /
deposits which are not Current Assets
37. TOTAL OTHER NON-CURRENT ASSETS
38. Intangible assets (patents,goodwill,preliminary
expenses,bad/doubtful debts not provided for etc)
39. TOTAL ASSETS
40. TANGIBLE NET WORTH (24-42)
41. NET WORKING CAPITAL [(17+24)-(37+41+42)]
42. CURRENT RATIO
43. TOTAL OUTSIDE LIABILITIES/TANGIBLE NET WORTH (18/44)
41.24
6.28
34.96
70.70
8.06
62.64
73.16
6.31
66.85
0.22
0.41
0.41
0.22
0.41
78.47
14.03
7.18
7.18
1.20
4.59
-
99.76
17.00
12.73
12.73
1.53
4.87
Contd7
80.22
6.82
73.40
80.74
6.86
73.88
0.41
392.96
53.88
16.30
16.65
1.12
3.18
(0.35)
202.34
53.39
15.56
15.35
1.14
2.79
0.21
250.90
54.43
15.41
15.43
1.10
3.61
(0.02)

FORM - IV : COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
(Amount Rs. )
Page 7
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 / Trading Goods
( Months' cost of sales )
4. Other consumable spares
( Months' consumption)
5. Receivables other than export & deferred receivables
(incldg.bills purchased & discounted by bankers)
(Months' 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)
9. TOTAL CURRENT ASSETS (To agree with item 32 in Form - III)
ACTUALS
ACTUALS
ACTUALS
ESTIMATES
31.03.2013
31.03.2014
31.03.2015
31.03.2016
12.48
(1.64)
-
23.61
(3.78)
-
26.36
(1.96)
-
36.00
(2.19)
-
38.60
(1.88)
-
11.75
(1.39)
-
5.33
(0.75)
-
49.49
(3.38)
167.43
65.94
(3.60)
17.00
85.43
(3.73)
43.00
19.06
43.29
-
7.77
36.71
-
82.40
325.69
-
13.37
(1.88)
21.20
1.54
15.12
(2.72)
4.38
4.48
36.11
23.98
10.00
128.94
-
ESTIMATES
31.03.2017
10.00
177.02
-
B. CURRENT LIABILITIES
(Other than bank borrowings for working capital)
10. Sundry Creditors ( Trade )
(Months' purchases)
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.)
14. TOTAL ( To agree with sub total B Form - III )
52.36
(4.06)
250.32
6.71
309.40
Contd8
57.60
(3.64)
1.71
4.28
105.00
(5.25)
1.88
4.71
63.58
111.59

FORM - V : COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL [MPBF]
(Amount Rs. )
Page 8
31.03.2013
As per Balance Sheet as at

31.03.2014
31.03.2015
31.03.2016
ACTUALS
(1)
ACTUALS
(2)
ACTUALS
(3)
31.03.2017
ESTIMATES
(4)
ESTIMATES
(4)
METHOD OF LENDING: I
1. TOTAL CURRENT ASSETS (9 in Form -IV)
43
37
326
129
177
2. Other Current Liabilities (Other than bank borrowing)
36
24
309
64
112
3. Working capital gap (WCG) (1-2)
13
17
65
65
4. Minimum Stipulated Net Working Capital
16
16
13
16
16
15
6. Item 3 minus Item 4
10
12
49
49
7. Item 3 minus Item 5
(0)
50
50
8. Maximum permissible bank finance [MPBF]
(0)
50
50
(0)
(0)
(14 of Form - IV)
i.e.25% of WCG
5. Actual/projected net working capital
(45 in Form III)
(Item 6 or 7 whichever is lower)

9. Excess borrowings representing shortfall in
NWC (4-5)
Contd9

FORM VI : FUNDS FLOW STATEMENT
(Amount Rs. )
Page 9
1. SOURCES
a) Net Profit (after tax)
b) Depreciation
c) Miscellaneous Expenditure Written off
d) Increase in capital
e) Increase in Term Liabilities (Including public deposits)
f) Decrease In:
I) Fixed Assets
II) Other non-current assets
g) Others
g) TOTAL
2. USES
a) Net loss
b) Decrease in Term Liabilities (Including public deposits)
c) Increase In :
I) Fixed Assets
II) Other non-current assets
d) Dividend payments
e) Others
f) TOTAL
3. Long Term Surplus (+) / Deficit (-) [1 - 2]
4. Increase/decrease in current assets (as per details given below)
5. Increase/decrease in current liabilities other than bank borrowings
6. Increase/decrease in Working Capital Gap
7. Net surplus (+)/deficit (-) [Difference of 3 and 6]
8. Increase/decrease in Bank borrowings
INCREASE/DECREASE IN NET SALES
Break-up of (4)
i) Increase/Decrease in stock-in-trade
ii) Increase/Decrease in Receivables
a) Domestic
b) Export
iii) Increase/Decrease in other current assets
NOTE : Increase/decrease under items 4 to 8 as also under
break-up of (4) should be indicated by (+) / (-)
31.03.2013
As per Balance Sheet as at

31.03.2014
31.03.2015
31.03.2016
ACTUALS
(1)
ACTUALS
(2)
ACTUALS
(3)
ESTIMATES
(4)
31.03.2017
ESTIMATES
(4)
5.76
6.28
8.27
28.33
7.00
8.06
1.73
30.45
9.64
6.31
34.24
-
12.15
6.82
(3.00)
5.89
17.19
6.86
(4.00)
-
48.64
47.24
50.19
0.41
22.27
20.06
29.10
0.71
41.24
0.22
41.46
7.18
43.29
36.11
(7.18)
101.70
29.46
0.19
5.76
35.41
11.83
(6.58)
(12.13)
(5.55)
6.28
(16.63)
2.46
7.00
38.56
11.63
121.65
117.73
(3.92)
7.71
90.94
7.06
9.64
16.70
5.57
(29.42)
(78.13)
(48.70)
(43.14)
50.00
43.98
0.52
1.24
18.82
48.08
48.00
(0.08)
18.74
54.97
12.48
11.13
2.75
9.64
2.60
11.75
19.06
(6.42)
(11.29)
44.16
74.74
16.45
(55.51)
19.49
26.00

RATIO ANALYSIS
Page 11
Usual
Norm
EFFICIENCY RATIOS:
Net Sales / Total Tangible Assets (Times)
PBT / TTA (%)
Operating Cost / Net Sales (%)
Bank Finance / Current Assets (%)
Inventory+Receivables / Net Sales (Days)
>1.50
>5.00%
<75.00%
<50.00%
<60 Days
ACTUALS
ACTUALS PROVISIONALESTIMATES
31.03.2013
(3)
31.03.2014
(4)
31.03.2015
(5)
31.03.2016
(6)
1.3
7.34%
94.34%
0.00%
87
0.85
7.02%
92.69%
0.00%
124
0.78
4.27%
94.52%
0.00%
157
1.09
6.00%
94.48%
38.78%
169
LIQUIDITY RATIOS:
Current Ratio
Acid Test Ratio
Bank Finance to WCG Ratio
>1.33
>1.00
<0.75
1.20
0.85
-
1.53
0.55
-
1.12
0.93
-
1.14
0.82
0.77
LEVERAGE RATIOS:
Debt Equity Ratio
TOL / TNW
Debt-Assets Ratio
Fixed Assets Coverage
Interest Coverage Ratio
<2.00
<3.00
<0.60
<0.60
>2.00
2.02
4.59
0.36
0.81
3.46
4.87
0.59
0.94
0.55
3.18
0.13
0.44
0.67
2.79
0.18
0.48
4.68
TURNOVER RATIOS:
Inventory Turnover Period (Days)
Average Collection Period (Days)
Total Assets Turnover (Times)
Average Credit Period (Days) - Creditors
Bank Finance Turnover (Times)
Current Assets Turnover (Times)
<30 Days
<30 Days
>1.00
<30 Days
>5.00
>3.00
45
42
1.30
57
0.00
2.35
101
23
0.85
83
0.00
2.32
55
103
0.78
123
0.00
1.11
60
109
1.09
111
4.40
1.71
PROFITABILITY RATIOS:
Net Profit Margin after tax (%)
Net Income to Assets Ratio (%)
Return on Investment (%) [PBDIT/TTA]
Return on Equity (%)
Operating Profitability (%)
Pre-Tax Profitability (%)
PBT / TTA (%)
>5.00%
>10.00%
>20.00%
>18.00%
>20.00%
>15.00%
>10.00%
5.66%
7.34%
20.82%
41.05%
5.66%
5.66%
7.34%
8.23%
7.02%
19.10%
41.18%
7.31%
8.23%
7.02%
5.48%
4.27%
8.60%
17.89%
5.48%
5.48%
4.27%
5.52%
6.00%
13.87%
22.76%
5.52%
5.52%
6.00%
STRUCTURAL RATIOS:
Retained Profit (%)
Raw Material Content (%)
Operating Cost / Sales (%)
>20.00%
<50.00%
<75.00%
100.00%
93.14%
94.34%
100.00%
89.23%
92.69%
100.00%
96.09%
94.52%
100.00%
96.54%
94.48%
Signs:
< = Less Than
> = More Than

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T&ME - 1

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

EXISTING EXTENT TO WHICH LIMITS

A. WORKING CAPITAL LIMITS:

NON FUND BASED

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

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

5. INTEREST AND FINANCIAL CHARGES

6. OPERATING PROFIT AFTER INTEREST [4 - 5 ]

3. SELLING, GENERAL & ADMINISTRATIVE EXPENSES

7. I) Add: Other non-operating Income

9. NET PROFIT/LOSS (6-7)

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

As per Balance Sheet as at

2. Other Current Liabilities (Other than bank borrowing)

3. Working capital gap (WCG) (1-2)

4. Minimum Stipulated Net Working Capital

6. Item 3 minus Item 4

7. Item 3 minus Item 5

8. Maximum permissible bank finance [MPBF]

(14 of Form - IV)

(Item 6 or 7 whichever is lower)

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

As per Balance Sheet as at

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

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