HLM AND ASSOCIATES

Chartered Accountants

Project Report and CMA Data

Name of Unit
Address of Unit

INDEX

Ref Particualrs PageNo

PART A PROJECT REPORT
Annexure-I Introduction -------------------------------------------------------------------------- 2 to 3
Annexure-II About Promoter --------------------------------------------------------------------- 3
Annexure-III Market Demand --------------------------------------------------------------------- 3
Annexure-IV Future Demand ---------------------------------------------------------------------- 3
Annexure-V Production and its Application ----------------------------------------------------- 3
Annexure-VI Raw Material ------------------------------------------------------------------------ 3
Annexure-VII Manufacturing Process ------------------------------------------------------------- 3
Annexure-VIII Economics Benefit ------------------------------------------------------------------ 3
Annexure-IX Financials ----------------------------------------------------------------------------
Report-I Cost of Projects and Means of Finance -------------------------------------------- 4
Report-II Balance Sheet ------------------------------------------------------------------------ 4
Report-III Statement of Profit & Loss Account ----------------------------------------------- 5
Report-IV Cash Flow Statement --------------------------------------------------------------- 5&6
Report-V Ratio Analysis ------------------------------------------------------------------------ 6
Report-VI Break Even Analysis ----------------------------------------------------------------- 6&7
Working Notes
Working Note-1 Details of Sales ---------------------------------------------------------------------- 7
Working Note-2 Details of Purchases ---------------------------------------------------------------- 8
Working Note-3 Details of Direct Expenses ---------------------------------------------------------- 8
Working Note-4 Details of Selling, General & Adminitrative Expenses ---------------------------- 9
Working Note-5 Details of Cost of Banking ---------------------------------------------------------- 9
Working Note-6 Details of Capital /Share Capital Accounts ---------------------------------------- 9
Working Note-7 Details of Long Term Loan --------------------------------------------------------- 9
Working Note-8 Details of Accounts Payable -------------------------------------------------------- 9
Working Note-9 Details of Provision for Taxation & Others ---------------------------------------- 10
Working Note-10 Details of Fixed Assets and Depreciation ------------------------------------------ 10
Working Note-11 Details of Inventory ----------------------------------------------------------------- 10
Working Note-12 Details of Accounts Receivables ---------------------------------------------------- 10 &11
Working Note-13 Project Conclusion, Recommendation and Assumption ------------------------- 11

PART B CMA DATA

Form-I Particulars of Exisiting /Proposed limit from the Banking System -------------- 12
Form-II Operating Statement --------------------------------------------------------------- 12 to 13
Form-III Analysis of Balance Sheet ---------------------------------------------------------- 13,14&15
Form-IV Comparative Statement of Current Assets & Liabilities ------------------------- 15 to 16
Form-V Fund Flow Statement --------------------------------------------------------------- 16
Form-VI Computation of Maximum Permissible Bank Finance for Working Capital ---- 16 to 17
Form-VII Computation of Analytical and comparative Ratios ------------------------------ 17 to 18

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PROJECT REPORT

Annexure- I :: Introduction

A ELECTRIC BIKE: A motorized scooter

is a powered stand-up scooter using a
small utility gas engine or electric
motor. These scooters are generally
designed with a large deck in the center
on which the rider stands.

A Electric Cycle: An electric bicycle, also known as an e-bike, is a bicycle with an integrated electric motor which can be used for
propulsion. E-bikes can also be defined separately and treated under distinct Electric bicycle laws.

Electric Car:
An electric car is an alternative fuel automobile that uses electric motors and motor controllers for propulsion, in place of more
common propulsion methods such as the internal combustion engine (ICE). Electricity can be used as a transportation fuel to
power battery electric vehicles (EVs).

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CHARGING STATION:
Charging an electric car can be done at a variety of charging stations, these charging stations can be installed in both houses and
public areas. The two all-time best selling electric cars, the Nissan Leaf and the Tesla Model S, have EPA-rated ranges reaching up
to 151 mi (243 km) and 335 mi (539 km) respectively.

Annexure - II :: About Promoter

MR Name of Promoter:
Aged 29 years. After completion of the study he has stated manufacturing unit from the local area of the Rajkot in the name and
style of M/s Equinox Mobility. He gets very rich experience of 5 years in the field of manufacturing of solar panels. He will devote
full time for this proposed unit and look after the technical as well as marketing aspects of the company. Now he has cover the
whole area of the Gujarat that’s shows his inspiration and growth in the same field.

Annexure - III :: Market Demand

Both the products are very basic needs of every peoples as well as need of every mall and industries in the today’s scenario, for
the efficiency of the output from the self as well as workers or for easiness and hence due to increase in consumption the demand
of our products is unlimited.

Annexure - IV :: Future Demand

Currently, the sector is growing tremendously.

Hence, when these factors are taken into account, it will be reasonable to assume that the capacity utilization in the sector will
increase to about 100% in the coming years.

Annexure - V :: Production and its Application

Common uses include electric fittings at every mall, houses, factories for Transportation.

Annexure - VI :: Raw Material

Raw materials required by the sector are metal sheet, metal pipes, glass, acrelic sheet, runner sheet, typre, electric penal, eletric
motor, battery, charger, adapter and other accessories. These raw products can easily available in the local market of India.
Availability of the raw material in the region is thus a good opportunity to establish industries.

Annexure - VII :: Manufacturing Process

The Manufacturing process for this product is briefly described as under:

1) Desing
Preparing design as per the project specification in computer
2) Preparing Body
From the metal sheet and metal pipes complete body of respective is prepared
3) Electricfication of Electrical Mechanism and Panelling:
All electrical joints can be done.
4) Hardware Fillings:
All bending, nuts, boths as per requirement can be attched
5) Testing:
Testing of final product can be done.
6) Colour Work
7) Packing
8) Dispatch

Annexure - VIII :: Economics Benefit

The project can generate employment for 10 to 20 peoples. In addition to supply of the domestic needs, the project will generate
huge amounts of tax revenues.

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Annexure - IX :: Financials

Report-I :: Cost of the Project and Means of Finance

( in Lacs)
SrN Description Amount
A COST OF PROJECT
1 Land and Development 25.00
2 Building and Civil Works 70.00
3 Plant and Machinery 80.00
4 Working Capital Margin Money -
5 Other Assets -
TOTAL COST OF PROJECT (1 to 5) 175.00
B MEANS OF FINANCE
6 Equity 70.00
17.1 : Promoter 70.00
17.2 : Others -
7 Working Capital Loan -
8 Term Loan from Bank 105.00
9 Subsidy -
TOTAL MEANS OF FINANCE (6 to 9) 175.00
C TOTAL DEBT 105.00
D TOTAL EQUITY /CAPITAL 70.00
E DEBT EQUITY RATIO (DER) (C/D) 1.50

Report-II :: BALANCE SHEET

( in Lacs)
SrN Particualrs NN 2019-20 2020-21 2021-22 2022-23 2023-24
I LIABILITIES
1) Owner's Funds
(a) Capital WN-6 126.6 212.9 331.1 524.8 806.5
(b) Reserves & Surplus - - - - -
2) Non-current liabilities
(a) Long-term Borrowings WN-7 94.5 82.7 69.6 54.9 38.6
(b) Long-term Provisions - - - - -
3) Current liabilities
(a) Over Draft Facility /CC Report-1 - - - - -
(b) Trade Payables WN-8 169.8 186.8 205.5 226.0 248.6
(c) Other Current Liabilities - - - - -
(d) Short-Term Provisions WN-9 6.8 10.3 13.9 22.4 32.3
TOTAL (1+2+3) 397.7 492.7 620.0 828.1 1,126.0

II ASSETS
1) Non-Current Assets
(a) Fixed Assets WN-10
(i) Tangible Assets 159.5 146.0 134.1 123.8 114.7
(ii) Intangible Assets - - - - -
(b) Long-Term Loans and Advances - - - - - -
(c) Deposits and Others - - - - - -
2) Current Assets
(a) Inventories WN-11 66.6 109.9 120.9 132.9 146.2
(b) Trade Receivables WN-12 151.5 169.7 190.1 212.9 238.4
(c) Cash & Cash Equivalent Report-IV 20.1 67.1 175.0 358.5 626.7
(d) Other Current Assets - - - - -
TOTAL (1+2) 397.7 492.7 620.0 828.1 1,126.0

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Report-III :: STATEMENT OF PROFIT & LOSS ACCOUNT

( in Lacs)
SrN Particualrs Ref 2019-20 2020-21 2021-22 2022-23 2023-24
1 Sales WN-1 2,567.2 2,875.3 3,220.3 3,606.8 4,039.6
2 Other Income - - - - - -
3 Total Revenue (1+2) 2,567.2 2,875.3 3,220.3 3,606.8 4,039.6
Cost of Goods Sold
Cost of Raw Materials WN-2 2,397.1 2,636.8 2,900.5 3,190.6 3,509.6
Direct Expense WN-3 42.6 46.9 51.6 56.7 62.4
Depreciation WN-10 15.5 13.5 11.8 10.4 9.1
4 Total Cost of Goods Sold 2,455.3 2,697.3 2,963.9 3,257.7 3,581.2
5 Add: Opening Stock WN-11 - 66.6 109.9 120.9 132.9
6 Less: Closing Stock WN-11 66.6 109.9 120.9 132.9 146.2
7 Cost of Sales [4+5-6] 2,388.7 2,654.0 2,952.9 3,245.6 3,567.9
8 Gross Profit [3-7] 178.6 221.3 267.4 361.2 471.7
9 Administrative, Selling & General Exp. WN-4 99.1 109.0 119.9 131.8 145.0
10 Profit before Int. & Tax (8-9) 79.5 112.4 147.5 229.3 326.7
11 Cost of Banking and Interest WN-5 11.0 9.8 8.4 5.2 3.7
12 Profit before Taxation (10-11) - 68.5 102.6 139.1 224.1 323.0
13 Provision for Taxation WN-9 6.8 10.3 13.9 22.4 32.3
14 Profit after Tax (12-13) 61.6 92.3 125.2 201.7 290.7

Report-IV :: CASH FLOW STATEMENT

( in Lacs)
SrN Particulars 2019-20 2020-21 2021-22 2022-23 2023-24
A) SOURCES OF FUNDS
1 Cash Accruals (Before Tax & Interests) 79.51 112.37 147.54 229.34 326.70
2 Increase in
a Capital 70.00 - - - -
b Subsidy - - - - -
3 Depreciation 15.50 13.53 11.83 10.37 9.11
4 Increase in Long Term Loans
a Secured Loans 105.00 - - - -
b Seed Capital Loans - - - - -
5 Increase in Unsecured Loans - - - - -
6 Increase in Working Capital Loans - - - - -
7 Sale of Fixed Assets - - - - -
8 Decrease in Investments - - - - -
9 Increase in Current Liabilities 176.65 20.39 22.33 29.05 32.49
TOTAL SOURCES OF FUNDS (1+9) 446.66 146.28 181.70 268.76 368.31
B) DISPOSITION OF FUNDS
1 Capital Expenditure 175.00 - - - -
2 Increase in Investments - - - - -
3 Increase in Current Assets 218.12 61.47 31.35 34.90 38.84
4 Increase in:
a Preliminary Expenses - - - - -
b Preoperative Expenses - - - - -
5 Decrease in:
a Secured Loans 10.55 11.77 13.13 14.65 16.34
b Un-Secured Loans - - - - -
6 Decrease in Deferred Credits - - - - -
7 Decrease in Unsecured Loans - - - - -
8 Taxation 6.85 10.26 13.91 22.41 32.30
9 Interest 11.03 9.81 8.45 5.23 3.70
10 Withdrawals 5.00 6.00 7.00 8.00 9.00
11 Others - - - - -
TOTAL DISPOSITION OF FUNDS (1+11) 426.55 99.30 73.84 85.19 100.18

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C) Opening Cash & Bank Balance - 20.11 67.10 174.96 358.53

D) Surplus/Deficit 20.11 46.99 107.86 183.57 268.12
E) Closing Cash & Bank Balance 20.11 67.10 174.96 358.53 626.65

Report-V :: RATIO ANALYSIS

SrN Particulars 2019-20 2020-21 2021-22 2022-23 2023-24
1 LIQUIDITY RATIOS
1 Current Ratio 1.35 1.76 2.22 2.84 3.60
2 Acid Test Ratio (Quick Ratio) 0.97 1.20 1.66 2.30 3.08
3 Interval Measure Ratio (Days) 28 35 49 70 96
2 CAPITAL STRUCTURE RATIOS
1 Owners' Share 100% 100% 100% 100% 100%
2 Debt Equity Ratio (DER) 2.14 1.31 0.87 0.58 0.40
3 COVERAGE RATIOS
1 Debt Service Coverage Ratio (DSCR) 4.00 5.68 7.48 12.66 17.91
2 Interest Coverage Ratio 7.21 11.46 17.47 43.82 88.29
3 Capital Gearing Ratio 74.59% 38.83% 21.01% 10.46% 4.78%
4 Proprietary Ratio 79% 146% 247% 424% 703%
4 ACTIVITY RATIOS
1 Capital Turnover Ratio 41.68 19.21 12.08 7.91 5.53
2 Fixed Assets Turnover Ratio 32.19 18.83 22.99 27.97 33.88
3 Working Capital Turnover Ratio 83.37 27.22 15.48 9.98 6.81
4 Inventory Turnover Ratio 77.11 32.59 27.92 28.42 28.94
5 Inventory Turnover (Cost Of Goods Based) 73.75 30.57 25.69 25.67 25.66
6 Raw Materials Turnover Ratio 0.06 0.05 0.05 0.05 0.05
7 Debtors Turnover (Credit Sales Based) 28.80 15.22 15.22 15.22 15.22
8 Debtors Average Collection Period (Days) 12.50 23.66 23.66 23.66 23.66
9 Creditors Turnover Ratio 24.00 12.57 12.57 12.57 12.57
10 Creditors Average Collection Period (Days) 15.00 28.64 28.64 28.64 28.64
5 PROFITABILITY AND INVESTMENT
1 Return On Equity 97.34% 54.36% 46.02% 47.13% 43.67%
2 Return On Investment (Capital Employed) 48.67% 43.35% 37.81% 38.43% 36.04%
3 Return On Total Assets 15.50% 18.74% 20.19% 24.36% 25.82%
4 Return On Fixed Assets 38.64% 63.23% 93.32% 162.95% 253.53%
5 Gross Profit Ratio (GPR) 6.96% 7.70% 8.30% 10.01% 11.68%
6 P/V Ratio 3.70% 4.38% 4.95% 6.65% 8.31%
7 Net Profit Ratio (NPR) 2.40% 3.21% 3.89% 5.59% 7.20%
8 Earning Power 19.99% 22.81% 23.79% 27.69% 29.01%
9 Earning Per Share (Each Share of Value 10) - - - - -
10 Dividend Per Share (Each Share of Unit 10) - - - - -
6 LEVERAGE RATIOS
1 Operating Leverage 1.19 1.12 1.08 1.05 1.03
2 Financial Leverage 1.16 1.10 1.06 1.02 1.01
3 Combined Leverage 1.39 1.23 1.15 1.07 1.04

Report-VI :: BREAK EVEN ANALYSIS

SrN Particulars 2019-20 2020-21 2021-22 2022-23 2023-24

1 NET SALES / GROSS RECEIPTS 2,567.23 2,875.30 3,220.33 3,606.77 4,039.59
2 VARIABLE COSTS
1 Raw Materials Consumed 2,397.13 2,636.84 2,900.53 3,190.58 3,509.64
2 Packing Materials Consumed - - - - -
3 Power and Fuel 23.62 25.99 28.58 31.44 34.59
4 Direct Labour and Wages 19.00 20.90 22.99 25.29 27.82
5 Factory Overheads - - - - -
6 General Administrative Expenses 99.05 108.96 119.85 131.84 145.02
Add Opening Stocks of

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7 Work in Process - - - - -
8 Finished Goods - 66.59 109.87 120.86 132.94
Less Closing Stocks of
9 Work in Process - - - - -
10 Finished Goods 66.59 109.87 120.86 132.94 146.23
TOTAL VARIABLE EXPENSES (1to6+7+8-9-10) 2,472.22 2,749.40 3,060.97 3,367.06 3,703.77
3 SEMI FIXED COSTS
1 Raw Materials Consumed - - - - -
2 Packing Materials Consumed - - - - -
3 Power and Fuel - - - - -
4 Direct Labour and Wages - - - - -
5 Factory Overheads - - - - -
6 General Administrative Expenses - - - - -
TOTAL SEMI FIXED EXPENSES (1+6) - - - - -
4 FIXED COSTS
1 Depreciation 15.50 13.53 11.83 10.37 9.11
2 Interests 11.03 9.81 8.45 5.23 3.70
3 Pre-Operative expenses written-off - - - - -
TOTAL FIXED EXPENSES (1+3) 26.53 23.33 20.28 15.60 12.82
5 CONTRIBUTION 95.01 125.89 159.37 239.71 335.82
6 BREAK EVEN POINT % 27.92% 18.53% 12.72% 6.51% 3.82%
7 BREAK EVEN SALES 716.81 532.91 409.71 234.77 154.15
8 CASH BREAK EVEN POINT % 11.61% 7.79% 5.30% 2.18% 1.10%
9 CASH BREAK EVEN SALES 298.00 224.02 170.69 78.74 44.51

WORKING NOTES
Working Note 1 :: Details of Sales

( in Lacs)
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
1 Sales-Local 2,567.23 2,875.30 3,220.33 3,606.77 4,039.59
2 Sales-Export - - - - -
Total (1+2) 2567.23 2875.30 3220.33 3606.77 4039.59
3 Cash Sales 385.08 431.29 483.05 541.02 605.94
4 Credit Sales 2,182.15 2,444.00 2,737.28 3,065.76 3,433.65

1(a) The figures shown above are on the basis of the owner's experience.
2(b) For this particular project report calculation particular taxes liability have been ignored.
3(c) Detials of sales are as under:
SrN Particulars Qty Rate Amt
1 Electric Bike 1,500 0.17 254.9
Total 254.9

4(d) Detials of sales are as under:

SrN Particulars Qty Rate Amt
1 Electric Cycle 22,000 0.10 2,199.8
Total 2,199.8

4(e) Detials of sales are as under:

SrN Particulars Qty Rate Amt
1 Electric Car 20 5.00 100.0
Total 100.0

4(f) Detials of sales are as under:

SrN Particulars Qty Rate Amt
1 Charging Station 360 0.04 12.6
Total 12.6

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Working Note 2 :: Details of Purchase

( in Lacs)
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
1 Purchase-Local 2,397.13 2,636.84 2,900.53 3,190.58 3,509.64
2 Purchase-Import - - - - -
Total [1+2] 2397.13 2636.84 2900.53 3190.58 3509.64
3 Cash Purchase 359.57 395.53 435.08 478.59 526.45
4 Credit Purchase 2,037.56 2,241.32 2,465.45 2,711.99 2,983.19
2(a) The figures shown above are on the basis of the owner's experience.
2(b) For this particular project report calculation particular taxes liability have been ignored.
2(c) Detials of Purchases are as under;
SrN Electric Bike Qty Rate Amt
1 Steel Sheets and Pipes 1,500 0.04 63.75
2 Batteries 1,500 0.04 57.00
3 Motors 1,500 0.03 44.25
4 Tyres & Others 1,500 0.02 29.25
5 Accessories Items 1,500 0.02 27.75
Total 222.00
2(d) Detials of Purchases are as under;
SrN Electric Cycle Qty Rate Amt
1 Steel Sheets and Pipes 22,000 0.03 671.00
2 Batteries 22,000 0.01 275.00
3 Motors 22,000 0.01 231.00
4 Tyres & Others 22,000 0.01 253.00
5 Accessories Items 22,000 0.03 671.00
Total 2,101.00
2(e) Detials of Purchases are as under;
SrN Electric Car Qty Rate Amt
1 Steel Sheets and Pipes 20 1.00 19.98
2 Batteries 20 0.99 19.80
3 Motors 20 0.62 12.45
4 Tyres & Others 20 0.48 9.50
5 Accessories Items 20 0.62 12.40
Total 74.13

Working Note 3 :: Details of Direct Expense

Particulars ( in Lacs)
SrN
Nature of Expense 2019-20 2020-21 2021-22 2022-23 2023-24
1 Electricity Expense 23.62 25.99 28.58 31.44 34.59
2 Direct Labour 19.00 20.90 22.99 25.29 27.82
Total [1+3] 42.62 46.89 51.57 56.73 62.41
3(a) It is assumed that the above prises shall be increases by 10% p.a in subsequent years.
3(b) The Details of Electricity Expenses:
SrN Particulars Qty Remarks
1 1 HP 745.70 Watt
2 Power Connection Required 200 HP
3 Load (8 Hours a Day of 360 Days in a Year) 1,49,140 Watt
4 Running Unit per Hours per Kilowatts 1 Units
5 Working Hours per Year 2,880 Hours
6 Unit Consumption per Year 4,29,523 Hours
7 Rate per Unit 5.50 Rs
Total Power Consumption in Rs in Lacs 23.62 Rs
3(c) The Details of Direct Labour:
SrN Particulars (Per Year) Nos Rate Amts
1 Un-Skilled Employes 20 1.0 19.0
Total 19.0

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Working Note 4 :: Details of Selling, General & Administration Expense
Particulars ( in Lacs)
SrN
Nature of Expense Mnt 2019-20 2020-21 2021-22 2022-23 2023-24
1 Accountant Salary (1 Nos) 15,000 1.80 1.98 2.18 2.40 2.64
2 Office Salary (35 Nos) 15,000 63.00 69.30 76.23 83.85 92.24
3 Rent of Charging Station 75,000 9.00 9.90 10.89 11.98 13.18
4 Telephone Expense 12,500 1.50 1.65 1.82 2.00 2.20
5 Postage & Courier Expense 19,560 2.35 2.58 2.84 3.12 3.44
6 Freight & Logistic Expense 32,250 3.87 4.26 4.68 5.15 5.67
7 Bank Commi & Charges 5,500 0.66 0.73 0.80 0.88 0.97
8 Insurance 21,500 2.58 2.84 3.12 3.43 3.78
9 Repair & Maintenance 33,250 3.99 4.39 4.83 5.31 5.84
10 Internet Expenses 9,500 1.14 1.25 1.38 1.52 1.67
11 Printing & Stationery 4,550 0.55 0.60 0.66 0.73 0.80
12 Legal Fees 1,250 0.15 0.17 0.18 0.20 0.22
13 Travelling Expense 55,980 6.72 7.39 8.13 8.94 9.84
14 Misc Expense 14,580 1.75 1.92 2.12 2.33 2.56
Total [1+14] 99.05 108.96 119.85 131.84 145.02
4(a) It is assumed that the above prises of the of the papers increases 10% p .a in subsequent years.

Working Note 5 :: Details of Cost of Banking and Interest

( in Lacs)
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
1 On Term Loan 11.03 9.81 8.45 5.23 3.70
2 On Working Capital @10% - - - - -
Total [1+2] 11.03 9.81 8.45 5.23 3.70

Working Note 6 :: Details of Capital / Share Capital

SrN Particulars ( in Lacs)

A Name of Owner 2019-20 2020-21 2021-22 2022-23 2023-24
Opening Capital - 126.64 212.94 331.12 524.82
B Add
Profit from Business 61.64 92.30 125.18 201.70 290.70
Introduction of Capital 70.00 - - - -
Others - - - - -
Total of (B) 131.64 92.30 125.18 201.70 290.70
C Less:
Drawings 5.00 6.00 7.00 8.00 9.00
Others - - - - -
Total of (C) 5.00 6.00 7.00 8.00 9.00
Total (A+B-C) 126.64 212.94 331.12 524.82 806.52
Working Note 7 :: Details of Long Term Loans
( in Lacs)
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
1 Loan from Directors - - - - -
2 Term Loan 94.45 82.69 69.56 54.92 38.57
Total [1+2] 94.45 82.69 69.56 54.92 38.57
Working Note 8 :: Details of Accounts Payables
( in Lacs)
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
1 Sundry Creditors 169.80 186.78 205.45 226.00 248.60
2 Average Credit Purchase 1,018.78 2,139.44 2,353.38 2,588.72 2,847.59
3 Average Creditor 84.90 178.29 196.12 215.73 237.30
4 Cycle in Days (Average) 30 30 30 30 30

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Working Note 9 :: Details of Provisions for Taxation and Others

( in Lacs)
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
1 Income Tax 6.85 10.26 13.91 22.41 32.30
2 Others - - - - -
Total 6.85 10.26 13.91 22.41 32.30
9(a) Details of Income Tax Calculations
( in Lacs)
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
1 Profit/Loss as per P&L A/cs 68.48 102.56 139.09 224.11 323.00
2 Provision for Taxation at 15% 6.85 10.26 13.91 22.41 32.30
Working Note 10 :: Details of Fixed Assets & Depreciation
( in Lacs)
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
Plant & Machinery
1 Cost of Assets /Opening WDV - 68.00 57.80 49.13 41.76
2 Addition >180 Days 80.00 - - - -
3 Total (1+2) 80.00 68.00 57.80 49.13 41.76
4 Addition <180 Days - - - - -
5 Total (3+4) 80.00 68.00 57.80 49.13 41.76
6 Rate of Depreciation 15% 15% 15% 15% 15%
7 Depreciation 12.00 10.20 8.67 7.37 6.26
8 Closing WDV [5-7] 68.00 57.80 49.13 41.76 35.50
Building
1 Cost of Assets /Opening WDV - 66.50 63.18 60.02 57.02
2 Addition >180 Days 70.00 - - - -
3 Total (1+2) 70.00 66.50 63.18 60.02 57.02
4 Addition <180 Days - - - - -
5 Total (3+4) 70.00 66.50 63.18 60.02 57.02
6 Rate of Depreciation 5% 5% 5% 5% 5%
7 Depreciation 3.50 3.33 3.16 3.00 2.85
8 Closing WDV [5-7] 66.50 63.18 60.02 57.02 54.16
Plot
1 Cost of Assets 25.00 25.00 25.00 25.00 25.00
Personal Assets
1 Cost of Assets - - - - -
SUMMARY 2019-20 2020-21 2021-22 2022-23 2023-24
1 Cost of Assets /Opening WDV 25.00 159.50 145.98 134.15 123.78
2 Addition >180 Days 150.00 - - - -
3 Total (1+2) 175.00 159.50 145.98 134.15 123.78
4 Addition <180 Days - - - - -
5 Total (3+4) 175.00 159.50 145.98 134.15 123.78
6 Depreciation 15.50 13.53 11.83 10.37 9.11
7 Closing WDV [5-6] 159.50 145.98 134.15 123.78 114.66
Working Note 11 :: Details of Inventory
( in Lacs)
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
1 Manufacturing Unit
Opening Stock - 66.59 109.87 120.86 132.94
Closing Stock 66.59 109.87 120.86 132.94 146.23
Days 10 15 15 15 15
Working Note 12 :: Details of Accounts Receivables
( in Lacs)
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
1 Sundry Debtors 151.54 169.72 190.09 212.90 238.45

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2 Average Debtors 75.77 160.63 179.91 201.49 225.67

3 Average Credit Sales 1,091.07 2,313.07 2,590.64 2,901.52 3,249.70
4 Cycle in Days (Average) 25 25 25 25 25

Working Note 13 :: Project Conclusion, Recommendation and Assumption

1 The Promoters have great market value in the Gujarat and established huge customer network.

2 The promoters are running proprietorship business since last 10 years in the name and style of M/s Gopal Manufacture.

3 The Promoters have relevant experience in the line and have great support of the technical professionals.
This new venture will enable the promoters to cover rest of the state of India which will improve realization and bottom
4
line of the Company.
Although, the company and promoters are hopeful of achieving the targeted sales and profit, it would much depend on
5 the type of the orders for variety of elevators and escalator, which it would be receive from time to time. It’s therefore
desirable that the company should focus on getting more high value orders.

Quality and the cost of raw materials, consumption rate, availability of labour forces and general overheads are the most
6 critical factors which influences the overall profitability of the projects. The promoters will have to put extra efforts to see
that these aspects of the project are properly attended.
All the projected figures are based on assumptions about promoter’s ability, their experience, contracts and demand in
7
the market.
Based on the parameters of cost of project and variable cost factors, barring unforeseen circumstance, the project is
8
technically and financially viable.
9 Project Assumptions
9.1 Sales to be increased by 12% annualy
9.2 15% Cash Sales
9.3 Purchases to be increased by 10% annualy
9.4 15% Cash Purchases
9.5 Electrical cost to be increased by 10% annualy
9.6 Direct Labour cost to be increased by 10% annualy
9.7 Selling, General & Adminitration charges to be increased by 10% annualy
9.8 Interset on Working Capital @10% per year
9.9 Interset on Term Loan @11% per year
9.10 Creditors have been calculated in the basis of 30 Days
9.11 Debtors have been calculated in the basis of 45 Days
9.12 Income Tax have been calculated at the rate 10%

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CMA DATA

FORM - I :: Particulars of Existing / Proposed Limits from the Banking System

(Limits from all Banks and Financial Institutions as on date of application)
Name of Units : Name of Unit
( in Lacs)
Extent to which Limits were
Balance Limits now
Name of Bank/ Nature of Existing utilised during last 12
SrN Outstanding as on Requested
Financial Institution Facility Limits months
Maximum Minimum 31-03-2019 2019-20
A Working Capital Limits:
1 Fund based CC - - - - -
2 Non-fund based LoC - - - - -
Total - - - - -
B Term Loans/DPGS excluding Working Capital Loans:
1 Bank T/L - - - - -
Total - - - - -
Gross Total - - - - -

Information about Associate Companies

(Companies / Firms / Concerns in which Directors / Partners / Proprietor and / or their family members or the brorower
Company is / are asssociated with the other Unit as Directors / Partners / Proprietor or has / have furnishted guarantees).

( in Lacs)
Annual Limits from all Banks and Financial Institutions
Makeup of
Name of the Associate Working Capital Overdues,
A/c Name of Bank
SrN Term Loan &
Company & Activity Date of / Financial if any
Fund Non-Fund DPG
Balance Institution Based Based
Sheet
1 NA - - - - - -
2 NA - - - - - -
Total - - - - -

Form - II :: Operating Statement

Name of Units : Name of Unit

( in Lacs)
2019-20 2020-21 2021-22 2022-23 2023-24
SrN Particulars
Projected Projected Projected Projected Projected
1 Gross Sales
a) Domestic Sales 2,567.2 2,875.3 3,220.3 3,606.8 4,039.6
b) Export Sales - - - - -
Total (a+b) 2,567.2 2,875.3 3,220.3 3,606.8 4,039.6
2 Less: Excise Duty - - - - -
3 Net Sales (1+2) 2,567.2 2,875.3 3,220.3 3,606.8 4,039.6
4 Changes in Sales - 11% 11% 11% 11%
5 Other Operating Income - - - - -
6 Cost of Sales
A Raw Materials
a. Imported - - - - -
b. Indigenous 2,397.1 2,636.8 2,900.5 3,190.6 3,509.6
B Other Spares
a. Imported - - - - -
b. Indigenous - - - - -
C Freight Charges - - - - -
D Direct Expense 42.6 46.9 51.6 56.7 62.4
E Repair & Maintenance - - - - -
F Depreciation 15.5 13.5 11.8 10.4 9.1

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G Sub-Total (A to F) 2,455.3 2,697.3 2,963.9 3,257.7 3,581.2

H Add: Opening Material - 66.6 109.9 120.9 132.9
I Sub-Total (G+H) 2,455.3 2,763.8 3,073.8 3,378.5 3,714.1
J Less: Closing Material 66.6 109.9 120.9 132.9 146.2
K Cost of Production (I-J) 2,388.7 2,654.0 2,952.9 3,245.6 3,567.9
L Add : Op. stock of FG - - - - -
N Sub-Total (K+L) 2,388.7 2,654.0 2,952.9 3,245.6 3,567.9
O Less : Cl. Stock of FG - - - - -
P Total Cost of Sales (N-O) 2,388.7 2,654.0 2,952.9 3,245.6 3,567.9
7 Admin, Selling & Gen. Expenses 99.1 109.0 119.9 131.8 145.0
8 Sub-Total (P+7) 2,487.7 2,762.9 3,072.8 3,377.4 3,712.9
9 Operating Profit (before Interest) (3+5-8) 79.5 112.4 147.5 229.3 326.7
10 Finance Cost 11.0 9.8 8.4 5.2 3.7
11 Oper.Profit (Afr. Int.) (9-10) 68.5 102.6 139.1 224.1 323.0
12 Interest on Capital - - - - -
13 Remuneration to Partners - - - - -
14 Profit before Tax (11+12) 68.5 102.6 139.1 224.1 323.0
15 Provision for Taxes 6.8 10.3 13.9 22.4 32.3
16 Profit After Tax (14+15) 61.6 92.3 125.2 201.7 290.7
17 Cash Accruals 77.1 105.8 137.0 212.1 299.8
18 Months in Financial Year 12.0 12.0 12.0 12.0 12.0

Form - III :: Analysis of Balance Sheet

Name of Units : Name of Unit
( in Lacs)
2019-20 2020-21 2021-22 2022-23 2023-24
SrN LIABILITIES
Projected Projected Projected Projected Projected
CURRENT LIABILITIES
Short-Term Borrowings from Banks (Incl B/P B/D &
1
excess borrowings on Repayment basis)
a. From Applicant Bank - - - - -
b. From Other Banks - - - - -
Sub Total (A) (a+b) - - - - -
2 Short term borrowings from others - - - - -
3 Sundry Creditors (Trade) 169.80 186.78 205.45 226.00 248.60
4 Advances payments from Customers - - - - -
5 Provision for all Taxation 6.85 10.26 13.91 22.41 32.30
6 Dividend Distributation Tax - - - - -
7 Other statutory liabilities (Due within one year) - - - - -
Deposits/Deben./Installments under term loans/ DPGs,
8 - - - - -
etc. (due within1 year)
Other current liabilities and provisions (due within 1
9 - - - - -
year) (specify major items)
Sub Total (B) (2 to 9) 176.65 197.03 219.36 248.41 280.90
10 Total Current Liabilities (A+B) 176.65 197.03 219.36 248.41 280.90
TERM LIABILITIES
11 Debentures (Not maturing within 1y) - - - - -
12 Preference Shares (Redeemable after 1y) - - - - -
13 Term Loans 94.45 82.69 69.56 54.92 38.57
Deferred Payment Credits (excluding installments due
14 - - - - -
within 1y)
15 Term deposits(repayable after 1y) - - - - -
16 Other Term Liabilities - - - - -
17 Total Term Liabilities (11 to 16) 94.45 82.69 69.56 54.92 38.57
18 Total Outside Liabilities (10 + 17) 271.10 279.72 288.92 303.33 319.47
NET WORTH
19 Capital 126.64 212.94 331.12 524.82 806.52

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20 General Reserve - - - - -
21 Revaluation Reserve - - - - -
22 Other reserve/Drawings/Adjustments - - - - -
23 Surplus (+) or deficit (-) in P & L A/c - - - - -
24 Net Worth (Total of 19 to 23) 126.64 212.94 331.12 524.82 806.52
25 Total Liabilities (18 + 24) 397.74 492.66 620.05 828.14 1,125.99
CURRENT ASSETS :
26 Cash and Bank Balances 20.11 67.10 174.96 358.53 626.65
27 Investments (other than long-term)
i) Government and other trustee Securities - - - - -
ii) Fixed Deposits with banks - - - - -
i) Receivables other than deferred & exports. Incl.B/P
28 151.54 169.72 190.09 212.90 238.45
& B/D by bankers) (6 months old)
ii) Export Receivables (incl. b/p /dis by bankers) - - - - -
29 Instlmnts under deferred receive. (due within 1yr) - - - - -
30 Inventory
i) Raw materials (incl.stors & other items used in the
process of manufacture)
a. Imported - - - - -
b. Indigenous 66.59 109.87 120.86 132.94 146.23
ii) Stock-in-Process - - - - -
iii) Finished goods - - - - -
iv) Other consumable spares
a. Imported - - - - -
b. Indigenous - - - - -
31 Advances to Suppliers - - - - -
32 Advance Payment of Taxes - - - - -
33 Other current assets - - - - -
34 Total Current Assets (26 to 33) 238.24 346.69 485.90 704.37 1,011.33
FIXED ASSETS :
35 Gross Block 175.00 159.50 145.98 134.15 123.78
36 Depreciation 15.50 13.53 11.83 10.37 9.11
37 Net Block (35 - 36) 159.50 145.98 134.15 123.78 114.66

OTHER NON-CURRENT ASSETS

38 Investment, any
A. Investments in Subsidiary/Affiliates-Others - - - - -
B. Others - - - - -
ii) Advances for Capital Goods & Contractors - - - - -
iii) Deferred receivables (Maturity Exceeding 1Yr) - - - - -
39 Non-consumable stores and spares - - - - -
40 Other non-current assets including
A) Dues from Directors - - - - -
B) Deposits & Others - - - - -
41 Total other Non-Current Assets (38 to 40) - - - - -
42 Intangible Assets - - - - -
43 Total Assets [34+37+41+42] 397.74 492.66 620.05 828.14 1,125.99
44 TANGIBLE NET WORTH (24-42) 126.64 212.94 331.12 524.82 806.52
45 N WCap[(17+24)-(37+41+42)] Tally with (34 -10) 61.59 149.65 266.54 455.96 730.43
46 Current Ratio (34/10) 1.35 1.76 2.22 2.84 3.60
47 Total Outside Liabi./Tangible Net worth (18/44) 2.14 1.31 0.87 0.58 0.40
ADDITIONAL INFORMAION
A Arrears of Depreciation - - - - -
B Contingent Liabilities - - - - -
i) Arrears of cumulative dividends - - - - -
ii) Gratuity liability not provided for - - - - -
iii) Disputed tax liabilities - - - - -
iv) Other liabilities not provided for - - - - -

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C ICDS placed with others - - - - -

D ICDS taken - - - - -
Installments of T Loans/Deb falling due for payment
E - - - - -
within next 12 m

Form - IV :: Comparative Statement of Current Assets & Current Liabilities

Name of Units : Name of Unit
( in Lacs)
As per Balance Sheet as on March 31
Peak
Particulars Projected Projected Projected Projected Projected
Norms Reqrmnts.
( in Lacs)
2019-20 2020-21 2021-22 2022-23 2023-24 as on
A. CURRENT ASSETS [1] [2] [3] [4] [5] [6] [7]
Raw Material (Incldg.stores
1) and other items used in the
process of mfg,)
(a) Imported - - - - - - -
Months' consumption: - - - - - - -
(b) Indigenous - 66.59 109.87 120.86 132.94 146.23 -
Months' consumption: - 0.33 0.50 0.50 0.50 0.50 -
Other consumable spares,
2) excluding those included in 1
above
(a) Imported - - - - - - -
Months' consumption: - - - - - - -
(b) Indigenous - - - - - - -
Months' consumption: - - - - - - -
3) Stock -in-process - - - - - - -
Months' cost of production - - - - - - -
4) Finished goods - - - - - - -
Months' Cost of Sales: - - - - - - -
Receivables other than export
& deferred receivables
5) (including bills - 151.54 169.72 190.09 212.90 238.45 -
purchased & discounted by
bankers
Months' domestic sales: - 0.71 0.71 0.71 0.71 0.71 -
Export receivables (incl. bills
6) - - - - - - -
purchased & discounted)
Months' export sales: - - - - - - -
7) Advances to suppliers - - - - - - -
Months' purchases: - - - - - - -
Other current assets incl.cash
8) & bank balances & deferred - 20.11 67.10 174.96 358.53 626.65 -
receivable due within 1y.
9) TOTAL CURRENT ASSETS 238.24 346.69 485.90 704.37 1,011.33 -
B CURRENT LIABILITIES
(Other than bank borrowing
for working capital)
Creditors for purchases of Raw
10) Materials and Manufacturing - 169.80 186.78 205.45 226.00 248.60 -
expense
Months' purchases: - 0.85 0.85 0.85 0.85 0.85 -
11) Overdraft Facilities - - - - - - -
12) Statutory liabilities - 6.85 10.26 13.91 22.41 32.30 -
13) Other current liabilities, Short - - - - -

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TOTAL CURRENT LIABILITIES

14) (To Agree with Sub-Total (B) 176.65 197.03 219.36 248.41 280.90 -
in CAF III)

Form - V :: Fund Flow Statement

Name of Units : Name of Unit
( in Lakhs)
Projected Projected Projected Projected Projected
SrN Particulars
2019-20 2020-21 2021-22 2022-23 2023-24
1 LONG TERM SOURCES
a) Profit after Tax 61.64 92.30 125.18 201.70 290.70
b) Depreciation 15.50 13.53 11.83 10.37 9.11
c) Increase in Capital 70.00 - - - -
d) Increase in Term Liabilities
i) Term Loan 105.00 - - - -
ii) Unsecured Loans - - - - -
Sub-Total (1) 252.14 105.83 137.01 212.07 299.82
2 SHORT TERM SOURCES
a) Increase in Bank Finance - - - - -
b) Increase in Creditors 169.80 16.98 18.68 20.55 22.60
c) Increase in Other Current Liabilities 6.85 3.41 3.65 8.50 9.89
d) Decreases in Debtors - - - - -
e) Decreases in Inventories - - - - -
f) Decreases in Other Current Assets - - - - -
Sub-Total (2) 176.65 20.39 22.33 29.05 32.49
TOTAL SOURCES [1+2] 428.78 126.22 159.34 241.11 332.31
1 LONG TERM USES
a) Cash Loss - - - - -
b) Decreases in Capital 5.00 6.00 7.00 8.00 9.00
c) Increases in Fixed Assets 175.00 - - - -
d) Increases in Non-Current Assets - - - - -
e) Decreases in Term Liabilities 10.55 11.77 13.13 14.65 16.34
Sub-Total (1) 190.55 17.77 20.13 22.65 25.34
2 SHORT TERM USES
a) Decrease in Bank Finance - - - - -
b) Decrease in Creditors - - - - -
c) Decreases in Other Current Liabilities - - - - -
d) Increase in Debtors 151.54 18.18 20.37 22.81 25.55
e) Increase in Inventories 66.59 43.28 10.99 12.09 13.29
f) Increase in Other Current Assets 20.11 46.99 107.86 183.57 268.12
Sub-Total (2) 238.24 108.45 139.21 218.47 306.96
TOTAL USES [1+2] 428.78 126.22 159.34 241.11 332.31
LONG TERM SURPLUS/(DEFICIT) 61.59 88.06 116.88 189.42 274.48
SHORT TERM SURPLUS/(DEFICIT) (61.59) (88.06) (116.88) (189.42) (274.48)

Form -VI :: Computation of MAXIMUM PERMISSIBLE BANK FINANCE

Name of Units : Name of Unit
( in Lakhs)
Peak
Projected Projected Projected Projected Projected
SrN Particulars Requ
2019-20 2020-21 2021-22 2022-23 2023-24 as on..
A FIRST Method of Lending:
1 Total Current Assets 238.24 346.69 485.90 704.37 1,011.33 -
Other Current Liabilities (Other than Bank
2 176.65 197.03 219.36 248.41 280.90 -
Borrowing)

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3 Working Capital Gap (WCG) (1-2) 61.59 149.65 266.54 455.96 730.43 -
Minimum of stipulated net working
capital i.e. 25% of WCG / 25% of total
4 current assets as the case may be 15.40 37.41 66.63 113.99 182.61 -
depending upon the method of lending
being applied.
5 Actual/Projected Net Working Capital 61.59 149.65 266.54 455.96 730.43 -
6 Item 3 minus item 4 46.19 112.24 199.91 341.97 547.82 -
7 Item 3 minus item 5 0.00 - - 0.00 0.00 -
8 Maximum Permissible Bank Finance 0.00 - - 0.00 0.00 -
(Item 6 or 7 which-ever is lower )
Excess Borrowings Representing Short fall
9 - - - - - -
in NWC (4-5)

B SECOND Method of Lending

1 Total Current Assets 238.24 346.69 485.90 704.37 1,011.33 -
Other Current Liabilities (Other than Bank
2 176.65 197.03 219.36 248.41 280.90 -
Borrowing)
3 Working Capital Gap (WCG) (1-2) 61.59 149.65 266.54 455.96 730.43 -
Minimum of stipulated net working
capital i.e. 25% of WCG /25% of total
4 current assets as the case may be 59.56 86.67 121.48 176.09 252.83 -
depending upon the method of lending
being applied.
5 Actual/Projected Net Working Capital 61.59 149.65 266.54 455.96 730.43 -
6 Item 3 minus item 4 2.03 62.98 145.06 279.87 477.60 -
7 Item 3 minus item 5 0.00 - - 0.00 0.00 -
8 Maximum Permissible Bank Finance 0.00 - - 0.00 0.00 -
(Item 6 or 7 which-ever is lower )
Excess Borrowings Representing Short fall
9 - - - - - -
in NWC (4-5)

Form -VII :: Computation of ANALYTICAL AND COMPARATIVE RATIOS

Name of Units : Name of Unit
( in Lakhs)
Peak
Projected Projected Projected Projected Projected
SrN Particulars Req.
2019-20 2020-21 2021-22 2022-23 2023-24 as on…
1 Net Sales (Item 3, Form II) 2,567.23 2,875.30 3,220.33 3,606.77 4,039.59 -
% rise/fall in net sales during the year as
2 - 11% 11% 11% 11% -
compared to the previous year
3 Profit Before Tax (Item 14 in Form II) 68.48 102.56 139.09 224.11 323.00 -
4 Net Profit After Tax (Item 16 Form II) 61.64 92.30 125.18 201.70 290.70 -
5 a) Equity Dividend Declared - - - - - -
b) Equity Dividend paid - - - - - -
c) Rate of (a) 0.00% 0.00% 0.00% 0.00% 0.00% -
d) Rate of (b) 0.00% 0.00% 0.00% 0.00% 0.00% -
6 Retained Profit 61.64 92.30 125.18 201.70 290.70 -
7 Retained profit as % of Net Profit 100.0% 100.0% 100.0% 100.0% 100.0% -
8 Raw Materials
a) Imported (Item 30 Ia of Form III) - - - - - -
How many months consumptions do
- - - - - -
these represents
b) Indigenous (Item 30 Ib of Form III) 66.59 109.87 120.86 132.94 146.23 -
How many months Consumptions do
0.33 0.50 0.50 0.50 0.50 -
these represents

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9 Stock in Process(Item 30 II of Form III) - - - - - -

How many months consumptions do
- - - - - -
these represents
10 Finished Goods(Item 30 III of Form III) - - - - - -
How many months consumptions do
- - - - - -
these represents
Other Consumable spares (Item 30 IV of
11 Form III). What is the % of total inventory - - - - - -
& do these represent ?
a) Receivables other than deferred
12 receivables and export rec., (Item 28 (I) in 151.54 169.72 190.09 212.90 238.45 -
Form III)
How many months domestic sales do
0.71 0.71 0.71 0.71 0.71 -
these represent
b) Export receivables (Item 28 II in Form
- - - - - -
III)
How many months domestic sales do
- - - - - -
these represent
c) Deferred receivables - - - - - -
13 Sundry Creditors (Trade)(3 in Form III) 169.80 186.78 205.45 226.00 248.60 -
How many months domestic purchases
0.85 0.85 0.85 0.85 0.85 -
do these represent

14 Net Working Capital (Item 45 in Form III) 61.59 149.65 266.54 455.96 730.43 -

Current Ratio (Item 34/ Item 10 in Form

15 1.35 1.76 2.22 2.84 3.60 -
III)

16 Tangible Net Worth (Item 44 in Form III) 126.64 212.94 331.12 524.82 806.52 -

a) Total Outside Liabilities/Tangible Net

17 2.14 1.31 0.87 0.58 0.40 -
Worth (18/44 in Form III)
b) Total Term Liabilities /Total Outside
0.35 0.30 0.24 0.18 0.12 -
Liabilities (17/18 in Form III)
a) Bank Borrowing/ Total Outside
18 - - - - - -
Liabilities (1/18 in Form III)
b) Net Sales/Total Tangible Assets
- - - - - -
(Item 3/42 in Form III)

________________________________________
***** End of Reports *****

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