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Setting up of Steel Grain
Silo in Sehore, Madhya

Pradesh
Feasibility Report
May 2013
MPWLC, Government of Madhya Pradesh
Confidential
Silo in Sehore, Madhya
Pradesh
320162 MCB ISA AA 01
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Report_Sehore.doc
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Feasibility Report
May 2013
Confidential
Office Complex, Block 'A', Gautam Nagar, Bhopal - 462023
Mott MacDonald, 501 Sakar II, Ellisbridge, Ahmedabad 380 006, Gujarat, India
T +91 (0)79 2657 5550 F +91 (0)79 2657 5558, www.mottmac.com
Setting up of Steel Grain Silo in Sehore, Madhya Pradesh
Confidential
Issue and revision record
A 06/03/2013 SP RS, MK SM Draft Feasibility Report
B 20/03/2013 SP RS, MK SM Revised Feasibility Report
C 24/04/2013 SP RS, MK SM Revised Feasibility Report
D 27/05/2013 RS MK SM Re-revised Feasibility Report based

on comments of MPWLC and
Planning Commission
This document is issued for the party which commissioned it We accept no responsibility for the consequences of this
and for specific purposes connected with the above-captioned document being relied upon by any other party, or being used
project only. It should not be relied upon by any other party or for any other purpose, or containing any error or omission
used for any other purpose. which is due to an error or omission in data supplied to us by
other parties
This document contains confidential information and proprietary

intellectual property. It should not be shown to other parties
without consent from us and from the party which
commissioned it.
Confidential
Content
Glossary of Acronyms v
Executive Summary vii
1. Introduction 1
1.1 Report content _____________________________________________________________________ 1
2. Project Background 2
2.1 Objectives of the policy_______________________________________________________________ 2
2.2 Incentives to the developers ___________________________________________________________ 2
2.3 Details of the Proposed Silo ___________________________________________________________ 3
2.3.1 Proposed Capacity of Silo ____________________________________________________________ 3
2.4 Roles and Responsibilities ____________________________________________________________ 3
2.4.1 Role of State Government ____________________________________________________________ 3
2.4.2 Role of Developer ___________________________________________________________________ 3
3. Storage Techniques 5
3.1 Conventional covered warehouse ______________________________________________________ 5
3.2 Covered Area Plinth – CAP ___________________________________________________________ 5
3.3 Silos – Concrete and Steel ____________________________________________________________ 6
3.3.1 Typical movement of grain in Silo _______________________________________________________ 7
3.3.2 Movement of grain in the proposed Silo facility at Sehore ____________________________________ 9
3.3.2.1 Bulk Procurement at Silo Facility _______________________________________________________ 9
4. Location Analysis 10
4.1 Location of the site _________________________________________________________________ 10
4.2 Current Status, Documents / Agreements _______________________________________________ 10
4.3 Utility connectivity at proposed site ____________________________________________________ 10
4.4 Connectivity ______________________________________________________________________ 11
5. Wheat Scenario in Madhya Pradesh 13

5.1 Wheat Supply Chain ________________________________________________________________ 13
5.2 Wheat Production __________________________________________________________________ 14
5.2.1 State Level Scenario _______________________________________________________________ 14
5.2.1.1 Factors leading to the growth _________________________________________________________ 16
5.2.2 District Level Scenario ______________________________________________________________ 20
5.3 Mandi Arrivals _____________________________________________________________________ 22
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5.4 Procurement ______________________________________________________________________ 25

5.5 Summary of Wheat Scenario _________________________________________________________ 28
6. Storage Facilities 29
6.1 Present storage facilities ____________________________________________________________ 29
6.2 Storage Gap Assessment in Sehore District _____________________________________________ 32
7. Project Cost & Means of Finance 34

7.1 Project Cost ______________________________________________________________________ 34
7.1.1 Land and Land Development Cost _____________________________________________________ 34
7.1.2 Building and Civil Works _____________________________________________________________ 34
7.1.3 Plant and Machinery ________________________________________________________________ 35
7.1.4 Electricals, Automation and Other Utilities _______________________________________________ 38
7.1.5 Preliminary and Pre operative cost_____________________________________________________ 39
7.1.6 Contingencies _____________________________________________________________________ 39
7.1.7 Margin Money for WC_______________________________________________________________ 39
7.2 Means of Finance __________________________________________________________________ 40
8. Financial Feasibility Study 41

8.1 Assumptions ______________________________________________________________________ 41
8.1.1 Base case Assumptions _____________________________________________________________ 41
8.1.2 Assumptions considered for operations _________________________________________________ 41
8.1.2.1 Storage Capacity and Feed rate _______________________________________________________ 41
8.1.2.2 Operating Days ___________________________________________________________________ 41
8.1.2.3 Escalation Rates __________________________________________________________________ 41
8.1.3 Revenue Assumptions ______________________________________________________________ 42
8.1.4 Cost Assumptions__________________________________________________________________ 43
8.1.4.1 Power Cost _______________________________________________________________________ 44
8.1.4.2 Manpower Cost ___________________________________________________________________ 44
8.1.4.3 Receipt & Dispatch Expenses ________________________________________________________ 45
8.1.4.4 Fumigation Cost ___________________________________________________________________ 45
8.1.4.5 Repair & Maintenance Cost __________________________________________________________ 45
8.1.4.6 Insurance Cost ____________________________________________________________________ 46
8.1.4.7 Administration Expenses ____________________________________________________________ 46
8.1.4.8 Depreciation ______________________________________________________________________ 46
8.1.4.9 Taxation _________________________________________________________________________ 47
8.1.5 Feasibility Indicators and Ratios _______________________________________________________ 47
9. Sensitivity Analysis 48
9.1 Change in Capex __________________________________________________________________ 48
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9.2 Change in Revenues _______________________________________________________________ 48

9.3 Change in Opex ___________________________________________________________________ 49
9.4 Availability of VGF _________________________________________________________________ 50
9.5 Utilization of Facilities & Availability of VGF vs. Equity IRR __________________________________ 51
Conclusions & recommendations ________________________________________________________________ 51
Appendix A. Land Documents __________________________________________________________________ 53
Appendix B. Production _______________________________________________________________________ 54
Appendix C. Mandi Arrivals _____________________________________________________________________ 57
Appendix D. Procurement ______________________________________________________________________ 60
Appendix E. Storage Facility ____________________________________________________________________ 63
Appendix F. Quotations _______________________________________________________________________ 66
F.1. Buhler ___________________________________________________________________________ 66
F.2. Scafco __________________________________________________________________________ 74
F.3. Agrosaw _________________________________________________________________________ 83
Appendix G. Typical Layout Plan for setting up of Silo Facilities _________________________________________ 88
Appendix H. Projected Financial Statements – Base Case ____________________________________________ 90
Tables
Table 3.1: Steel Silos vs. Concrete Silos__________________________________________________________ 6
Table 3.2: General Supply Chain _______________________________________________________________ 8
Table 4.1: Details of Procurement Centres in 20 KM range __________________________________________ 12
Table 5.1: Wheat Production & Yield Details – Madhya Pradesh ______________________________________ 15
Table 5.2: Area under Irrigation in Madhya Pradesh ________________________________________________ 19
Table 5.3: Wheat Production in Sehore (2003-04 to 2011-12) ________________________________________ 20
Table 5.4: Mandi Arrivals in Madhya Pradesh (2003-04 to 2012-13) ___________________________________ 22
Table 5.5: Mandi Arrivals in Sehore (2003-04 to 2012-13) ___________________________________________ 23
Table 5.6: Procurement in Madhya Pradesh (2003-04 to 2012-13)_____________________________________ 25
Table 5.7: Procurement of Wheat in Sehore (2003-04 to 2012-13) _____________________________________ 27
Table 5.8: Summary of Wheat Scenario (MMT) ___________________________________________________ 28
Table 6.1: Storage Facility in Madhya Pradesh (in Lakh Tonnes) ______________________________________ 29
Table 6.2: Storage Facility expansion plans in Madhya Pradesh by 2014-15 (in Lakh Tonnes) _______________ 30
Table 6.3: Agency wise break-up of Storage Facility________________________________________________ 31
Table 6.4: Storage Facilities in Sehore (as on 28-09-2012) __________________________________________ 31
Table 6.5: Storage Gap Assessment____________________________________________________________ 33
Table 7.1: Project Cost Estimates ______________________________________________________________ 34
Table 7.2: Land and Land Develpoement Cost ____________________________________________________ 34
Table 7.3: Break up of Building and Civil Works Cost ______________________________________________ 35
Table 7.4: Plant and machinery Cost Estimates ___________________________________________________ 36
Table 7.5: Optimum Cost of Plant & Machineries - SKAFCO _________________________________________ 36
Table 7.6: Cost of Electricals, Automation and Other Utilities _________________________________________ 38
Table 7.7: Preliminary and Pre operative Maintenance cost __________________________________________ 39
Table 7.8: Working Capital Norms______________________________________________________________ 40
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Table 8.1: Various rates considered ____________________________________________________________ 41

Table 8.2: Revenue Assumptions ______________________________________________________________ 42
Table 8.3: Power Cost Details _________________________________________________________________ 44
Table 8.4: Cost Assumptions for Permanent Manpower _____________________________________________ 44
Table 8.5: Cost Assumption for Contract Labour___________________________________________________ 45
Table 8.6: Repairs & Maintenance Expenses _____________________________________________________ 45
Table 8.7: Insurance Cost ____________________________________________________________________ 46
Table 8.8: Depreciation Rates _________________________________________________________________ 46
Table 8.9: Tax Rates ________________________________________________________________________ 47
Table 8.10: Project Financial Feasibility Indicators __________________________________________________ 47
Table 9.1: Change in Capex __________________________________________________________________ 48
Table 9.2: Change in Revenues _______________________________________________________________ 48
Table 9.3: Applicability of Commission Charge ____________________________________________________ 49
Table 9.4: Change in Opex ___________________________________________________________________ 49
Table 9.5: Availability of VGF vs Financial Indicators _______________________________________________ 50
Table 9.6: Availability of VGF & No commission charge vs Financial Indicators ___________________________ 50
Table 9.7: Utilization of Facilities & Availability of VGF vs. Equity IRR __________________________________ 51
Figures
Figure 3.1: Supply Chain & Indicative Process Flow of Silo Facilities ____________________________________ 8
Figure 3.2: Chain for Bulk Arrival at Silo Location ___________________________________________________ 9
Figure 4.1: Connectivity ______________________________________________________________________ 12
Figure 5.1: Supply Chain of Wheat in MP _________________________________________________________ 13
Figure 5.2: Wheat Production in Madhya Pradesh (2003-04 to 2012-13)_________________________________ 16
Figure 5.3: Wheat Production in Sehore (2003-04 to 2011-12) ________________________________________ 21
Figure 5.4: Mandi Arrivals of Wheat in Madhya Pradesh (2003-04 to 2012-13) ____________________________ 23
Figure 5.5: Mandi Arrivals of Wheat in Sehore (2003-04 to 2012-13)____________________________________ 24
Figure 5.6: Wheat Procurement in Madhya Pradesh (2003-04 to 2012-13) _______________________________ 26
Figure 5.7: Wheat Procurement in Sehore (2003-04 to 2012-13)_______________________________________ 28
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Glossary of Acronyms
AAY Antyodaya Anna Yojana
APL Above Poverty Line
BPL Below Poverty Line
CAP Covered Area Plinth
CST Central Sales Tax
CWC Central Warehousing Corporation
Consultants Mott MacDonald Private Limited
DSCR Debt Service Coverage Ratio
FCI Food Corporation of India
GoI Government of India
INR Indian National Rupees
IRR Internal Rate of Return
LIFO Last In First Out
Markfed Marketing Federation
MPSCSC Madhya Pradesh State Civil Supplies Corporation
MPWLC Madhya Pradesh Warehousing & Logistics Corporation
MMT Million Metric Tonnes
MSP Minimum Support Price
PDS Public Distribution System
PPP Public Private Partnership
PMGSY Pradhan Mantri Gram Sadak Yojna
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ROCE Return on Capital Employed
SLM Straight Line Method
RFP Request for Proposal
TPDS Targeted Public Distribution System
VGF Viability Gap Fund
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Executive Summary
M.P. Warehousing & Logistics Corporation (MPWLC) has decided to undertake the development of steel
silos for storage of wheat at ten (10) locations in Madhya Pradesh through Public-Private Partnership on
Design, Build, Finance, Operate and Transfer (the "DBFOT") basis. In the process, Global Engineering,
Development and Management Consultants, Mott MacDonald, has been appointed by MPWLC for
preparation of feasibility report for setting up of steel silos for storage of wheat at all ten locations.
The conventional covered warehouses, covered godowns and CAPs have some short comings related to
Shelf Life of grains, Land requirement and Operational Cost. Silos are better option for bulk storage of
grains due to their various benefits like assured shelf life of grain for 2-3 years, easier grain management,
1/3rd land requirement compared to traditional warehouses and no risk of pilferage. Therefore, steel silos
are considered to be the best modern alternative storage technique suitable for Indian conditions. The silo
capacity of 50,000 MT has been considered at the proposed site in Sehore. This facility would have 4 bins,
each bin of capacity 12,500 MT.
The site for the proposed silo facility is already in possession of the State Government and is located in the
Murli village having an area of about 7 acres (following map). The site is about 3 kms from the nearest rail
head and is connected by Pradhan Mantri Gram Sadak Yojna (PMGSY) road. The procurement centres
are within the range of 20 kms of the site and have a total procurement capacity of about 60,000 MT of
wheat.
Location Map
Proposed Site, Village: Murli
There is an increasing trend in the production, Mandi arrivals and procurement of wheat over the past 3
years in Madhya Pradesh. The same trend is noted in the Sehore district as well.
The State Government has set up the “Warehousing & Logistics Policy 2012” to promote establishment of
Silos in Madhya Pradesh. The incentives provided under the Policy include:
The projects shall be implemented by Design-Build-Finance-Operate-Transfer (DBFOT) mode.
Land shall be provided by the State Government on license basis for 30 years (extendable by mutual
consent for another 5 years at a time subject to a maximum period of 10 years).
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The State Government will provide upto a maximum of 20% Viability Gap Funding (VGF) support, if
required, in addition to 20% VGF by Government of India under the VGF Policy. However, such projects
will not be eligible for Capital Investment Subsidy and the Interest Subsidy.
Such projects shall be awarded through a transparent bidding process and such projects shall be
eligible for business guarantee for 10 years.
The project cost is estimated to be INR 3,063.52 lakhs for development of 50,000 MT capacity of Steel
Grain Silo consisting 4 (four) bins of 12,500 MT of capacity each. The land of about 7 acres would be
allotted by the State Government to the private developer.
The project cost is summarised in brief as below:
Project Cost Estimates

Description INR Lakhs
Land & Site Development 0.70
Buildings and Civil Works 1445.63
Plant and Machinery 966.95
Electrical Automation and Other Utilities 287.50
Preliminary & Pre-operative expenses 218.77
Contingency 135.04
Total Block Cost 3054.58
Margin Money 8.93
Total Capital Cost (TPC) 3063.52
The proposed capital structure includes 30% Equity & 70% Debt of the total project cost. As stated in State
Warehousing & Logistics Policy 2012 - the project is eligible for viability gap funding but the same has not
been considered in the base case.
The proposed break up of sourcing of funds under base case for development of the silo project is
tabulated as:
Proposed source of funds – Base Case

Description Amount (Rs. Lakhs) Proportion (% of TPC)
Total Project Cost (TPC) 3063.52
Viability Gap Funding 0.00 0.00%
Equity 919.06 30.00%
Debt – IIFCL Funding 612.70 20.00%
Debt – Bank Funding 1531.76 50.00%
Major revenue streams & applicable charges are detailed in the following table:
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Revenue Assumptions
Sr. No. Remarks INR / Qtl. INR / MT / Year
Revenues (2013)
A. Reimbursement at actual 9.12 91.20
Receipt and Dispatch Charges expenses incurred
B. On value of actual 1%
quantity handled under
Commission Charges central pool system
C. Storage Charges INR / Qtl. / Month INR / MT / Year
1. Variable Charge As on April 1, 2012 0.5 67.30
2. Fixed Charge As on April 1, 2012 5.75 723.46
Source: Details provided by MPWLC
As per the Warehousing & Logistics Policy 2012, the guaranteed storage charges shall be paid for 10
years at 100% utilization. Financial analysis has been carried out for a concession period of 30 years. The
base case financials assume that even after 10 years of guaranteed period, the project would achieve the
100% utilization for the proposed project facilities.
Financial feasibility indicators for base case have been assessed by analysis of projected financial
performance and are tabulated below.
Feasibility Indicators
Feasibility indicators / Ratios Value Unit
Project IRR 12.14% -
Equity IRR 14.05% -
Average DSCR 1.00 Times
Pay Back Period 9.96 Years
Source: IMM Analysis
It can be observed that the project IRR of the project for the base case assumptions is greater than WACC
of 9.70% and Equity IRR is also greater than 12% (minimum expected rate of return on equity). Apart from
that the DSCR for the project is 1. Since the project is also eligible for availing VGF, the consultant has
carried out sensitivity analysis to know the financial viability of the project at various levels of VGF
availability and the same has been given in the following table.
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Availability of VGF vs Financial Indicators

Base
Availability of VGF Case - 0% 10% 20% 25% 30% 35% 40%
Total Project Cost less VGF
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Amount of VGF (INR Lakhs) 0.00 306.35 612.70 765.88 919.06 1072.23 1225.41
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis
From the above table, it can be observed that the project IRR is greater than the WACC of 9.97%, Equity
IRR is greater than 12% (minimum expected rate of return on equity) at all levels of utilization on
availability of VGF. However to achieve the desirable level of DSCR i.e. 1.20 times, at least 20% of VGF is
required.
Apart from above, the consultant has carried out sensitivity analysis to know the effect on various financial
indicators at various levels of utilization of facilities after guaranteed revenue period of 10 years. Financial
indicators at various levels of utilization of facilities after guaranteed revenue period of 10 years for base
case has been tabulated as:
Utilization after 10 years 100% 90% 80% 75% 65% 60%
Project IRR 12.14% 11.53% 10.86% 10.49% 9.69% 9.23%
Equity IRR 14.05% 13.22% 12.31% 11.80% 10.68% 10.03%
DSCR 1.00 1.00 1.00 1.00 1.00 1.00
Payback Period 9.96 9.96 9.96 9.96 9.96 9.96
It can be observed from the above table that with reduction in the utilization of facilities after 10 years of
guaranteed period from base case affects financial indicators adversely. No changes in DSCR and
payback period are observed because debt repayment is made during first 10 years of project life and
payback period is also less than 10 years while the cash flows are affected only after 10 years of project
life.
Also, the effect on equity IRR due to changes in utilization of facilities after 10 years of guarantee period
and various levels of availability of VGF cannot be ignored. The same has been tabulated as follows:
Utilization of Facilities & Availability of VGF vs. Equity IRR
Equity IRR Availability of VGF

0% 10% 20% 25% 30% 35% 40%
100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
Utilization of Facilities
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
after 10 years
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
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75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
From the above table, Equity IRR under various cases of availability of VGF and utilization of silo facilities
after 10 years of guaranteed period can be observed. Equity IRR is greater than 12% (Minimum Expected
return on Equity) at all levels of utilization of facilities after 10 years and availability of VGF greater than
20%.
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1. Introduction
Madhya Pradesh Warehousing & Logistics Corporation (MPWLC) has

decided to undertake the development of steel silos for storage of
wheat at ten (10) locations in Madhya Pradesh through Public-Private
Partnership on Design, Build, Finance, Operate and Transfer (the
"DBFOT") basis. These ten locations include Sehore, Dewas, Vidisha,
Bhopal, Indore, Ujjain, Satna, Harda, Hoshangabad and Raisen.
For preparation of feasibility report for setting up of steel silos for

storage of wheat at all ten locations, MPWLC, on behalf of the
Government of Madhya Pradesh, has engaged Mott MacDonald as the
Technical Consultant through competitive bidding.
This is the Feasibility Report of the Silo Project for Sehore for the
purpose of enabling the prospective bidders to assess the MPWLC’s
requirements. The data and information should be validated by the
developer in order to take judicious decision for bidding for the project.
The Feasibility Study Report mainly comprises following sections:
1) Project Background
2) Storage Techniques
3) Location Analysis
4) Wheat availability
5) Present Storage Facilities
6) Project Cost & Means of Finance
7) Financial Feasibility Study
8) Financial Indicators
9) Sensitivity Analysis
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2. Project Background
In order to make Madhya Pradesh as the “Warehousing & Logistics

Hub” of the country and increase the storage capacity of the state by 20
lakh MT through private investments, the Government of Madhya
Pradesh has framed the “Warehousing & Logistics Policy 2012”. The
Cabinet Order for the same was passed by the State Government in the
month of February 2012.
The objectives of Warehousing & Logistics Policy 2012 are as follows:

• To develop the state of Madhya Pradesh as a Warehousing &
Logistics Hub of India
• To provide modern warehousing and logistics facilities
• To encourage private investment in development of
warehousing and logistics infrastructure in the state
• To benefit the existing industries, traders, farmers and
agriculturists at large by providing cost effective warehousing
and logistics facilities
• To generate employment in the State
The incentives under the scheme have been classified into two broad
heads:
Part A - Long Term Incentives
Part B - Early Bird Incentives
The guidelines and incentives as provided under the scheme include:
Projects shall be implemented under Design-Build-Finance-Operate-

Transfer (DBFOT) mode.
The land shall be provided by the State Government on the license

basis for 30 years (extendable by mutual consent for another 5
years at a time subject to a maximum period of 10 years).
The state Government will provide upto a maximum of additional

20% Viability Gap Funding (VGF) support, if required, in addition to
20% VGF by Government of India under the VGF Policy. However,
such projects will not be eligible for Capital Investment Subsidy and
the Interest Subsidy.
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Projects shall be awarded through a transparent bidding process

and such projects shall be eligible for business guarantee for 10
years.
! "
! "
The State Government has proposed that the capacity of the storage
facility at Sehore would be 50,000 MT. It is proposed that the facility will
have 4 bins each having a capacity of 12,500 MT.
As per the MP Warehousing & Logistics Policy 2012 and Information

Memorandum pertaining to Storage of Food Grains through Public
Private Partnership, the silos will be constructed under PPP mode for
which MPWLC will be the nodal agency.
# " $ %
• Selection of Private developers through transparent bidding

process
• Land allotment
• Providing VGF support, as required (20% from GoI and additional

20% from State, if required)
• Business Guarantee ( guaranteed utilization and payment of the

silo facility )– initial 10 years
• Project Financing
• Construction - The developer will be responsible for the

construction of modern and temperature-monitored silos.
• Operation & Maintenance of Silos - The developer will be

responsible for the maintenance of modern and temperature-
monitored Silos.
• Scientific Management & Handling of Stocks – The Developer will

be responsible for cleaning and drying, de-bagging (if required),
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unloading, weighing, testing, storing, re-bagging, loading and

despatching the foodgrains in accordance with the terms of the
Concession Agreement. The designated State Authority will
arrange for delivery of foodgrains to the developer for storage and
for taking delivery of foodgrains from the Silos.
• The developer may use upto 1.5 acres of land for other commercial
activities related to agro-based industry so as to enhance his
revenue streams. However, such activities shall be limited only to
agro-based activities but not limited to food processing, flour mills,
cold storage, sale of agricultural inputs, warehousing of agricultural
produce other than food grains, and may include convenience
shopping and eateries. This will help to cross-subsidise the
expenditure on preservation of food grains. The nature and extent
of such use shall be regulated in accordance with the concession
agreement and local laws.
• For the above purpose, MPWLC may allot another 1 acre of land
over and above 7 acres of land allotted for Silo development.
• The developer will undertake activities in compliance with

government regulations & laws.
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3. Storage Techniques
! & '
The conventional covered warehouses are the traditional godowns

developed with RCC type columns and roof structures. Godowns are
constructed with super structure of brick masonry in cement mortar. It
has generally brick or stone masonry for foundation. Godown units are
generally constructed in modules of capacity 5000 MT. The Food
Corporation of India (FCI) has developed guidelines for construction of
godowns suitable for the storage of food grains. Covered godowns can
store wheat in bagged as well as bulk form. However, FCI stores wheat
mainly in godowns in bagged form only, in the absence of mechanical
handling required for bulk storage.
Shelf Life: The shelf life of grains in godown depends on grain

management and preservation and therefore there is no fixed
period. In genera,l the grain can be kept safely in godowns until 16-
18 months.
Land Requirements: Warehouses are horizontal structures which

require significant land area. It is learnt that a 50,000 MT warehouse
would require an area of approximately 18-20 acres.
Ease of Construction & Maintenance: FCI has standardised the

construction and maintenance guidelines for godowns and it is
understood that a godown can be easily built in a short timeframe of
3-4 months as materials are available locally and the technical
know-how is also available.
Multiple Commodity Storage: As the warehouses have bagged

storage therefore it can accommodate multi commodities. Primarily
FCI and other procurement agencies store wheat and rice in the
existing godowns together.
! (
CAP is a scientific yet temporary storage technique with guided

specifications of concrete plinth, dunnage and tarpaulin. As CAP
storage is an open storage the grains need to be essentially bagged.
Shelf Life: Similar to godowns the shelf life of grains in CAP storage
is dependent on grain management and preservation and therefore
there is no fixed period. In general, the standard time for which the
grain can be kept completely safe in CAP storage is about 6 months.
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Land Requirements: CAP storages are horizontal structures which

require sizeable land area. Since there is no peripheral structure, the
land requirement is lesser than that of a warehouse.
Ease of Construction & Maintenance: The FCI has standardised

the construction and maintenance guidelines for CAP and it is
understood that a CAP is easily built in short timeframe of a few
days as materials are available locally and the technical knowhow is
also available.
Multiple Commodity Storage: As the CAP storages are bagged

storage therefore they can accommodate multi commodities.
!! " ( "
Silos are primarily the large tank type structures either made of steel or
concrete for storage of food grains or other materials in monitored
atmosphere. As silos are tank type high vertical structures, wheat or
other materials are stored in bulk form only.
Silo requires mechanized handling for loading and unloading of

material. At port locations which are more prone to corrosion, concrete
silos are constructed while for inland locations, steel silos are better as
they are quite cost effective as compared to concrete silos.
Techno-commercial comparison of steel and concrete silos are

summarised in Table below:
Table 3.1: Steel Silos vs. Concrete Silos

Parameters Steel Silos Concrete Silos
Capital Cost Lower Capital Cost Higher Capital Cost
Speed of Construction Faster to build in 10-12 months Takes more time – 14 months
Scale of Capacity Bins of upto 20,000 MT Bins of Up to 3000-4000 MT
Requirement of Soil Quality Can be mounted where the soil quality is Requires very good soil quality to
not optimum erect concrete silo
Industrial Life 25-30 Years 50 Years
Risk Against Earthquake Less prone to earthquake More prone to earthquake
Mobility Can be dismantled from one place and Cannot be erected again with same
erected again somewhere else material, once dismantled
Source: MM Research
Only in case of port locations where the steel silos may be more prone
to corrosion, concrete silos are preferred.
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Shelf Life: In silos, there are many aspects of grain management,

the management is mechanical rather than manual. In general, the
grain may be kept safely in silos for a period of 2 years.
Land Requirements: Silo is basically a vertical storage option as

compared to godowns or CAP which are horizontal type storages.
Hence, silos save a lot of land compared to warehouses. For a
50,000 MT silo, 7 acres land is required.
Ease of Construction & Maintenance: The construction of steel

silos can be done within 10 months including the lead time of
importing the steel structures. The erection time is about 2-3
months. Steel silos are quite easy to maintain.
Multiple Commodity Storage: As silos are meant for bulk storage,

two commodities cannot be kept within the same silo bin or even in
different bins as they have the same mechanical handling
equipment.
!! % % "
This section presents the typical concept for the Silo Facility based on
which the capital costs and O&M costs have been worked out. This
design has been based on discussions with major developers and
availability of information from plant & machinery suppliers and is
conceptual in nature.
Capacity of the Silo: The silo facility of capacity 50, 000 MT of wheat
would have 4 bins of 12,500 MT each.
Process: Grains could come in bulk or in bags. It would then be

unloaded from the conveyance it is brought to the facility (and
debagged if in bags at the debagging platform) and would be loaded
into the unloading hoppers. Upon unloading, the wheat grain would be
sampled through a pneumatic system linked to the laboratory. Upon
sampling results, the temporary storage hopper would dispatch the
grains into conveyor for pre-cleaning activities like removal of foreign
particles and weighing. Once in the storage bins, the grain will need to
be regularly ventilated. The ventilation is subject to constant
temperature controls through probes to maintain the grain quality all
along the storage period. To protect the grain from different
contamination sources, the grain will be fumigated by spraying as it
passes on the loading conveyors. During dispatch, the grain will be
taken out of each bin by a chain conveyor located in the gallery under
the bins. A bucket elevator would be connected to the chain conveyor
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to carry the grain to the bagging plant. The wastes accumulated during
the process would be conveyed by a separate elevator to a waste bin to
be discharged locally.
The indicative process has been explained in figure 3.1
Figure 3.1: Supply Chain & Indicative Process Flow of Silo Facilities
Unloading, Debagging,
Bulk Arrival at Mandi Mechanized Handling,
Marking, Filling, Weighing, Truck Transport from Silo Storage and
Bagging and Loading into Mandi to Silo Facility Preservation
Trucks for Dispatch to Storage Mechanized Unloading &
Depot Bagging
Debagging
Pre Cleaning Activities

Local Produce of Inter-State
Wheat - Farmers Arrivals Weighing
Storage
Despatch – Chain
Conveyor, Bucket
Bag Loading into Elevator
Trucks for Further Bagging
Dispatch
The generalised supply chain & process of activities of a typical grain

silo facility is as follows:
Table 3.2: General Supply Chain

At Mandi From Mandi to Storage point
1. Unloading of Wheat brought by farmers at Mandi 7. Loading onto trucks for further dispatch to
storage point
2. Cleaning by Power Cleaner 8. Transportation from Mandi to Storage Point
3. Putting Mandi Marka on Bags 9. Unloading from trucks and stacking inside
godowns for storage
4. Filling of wheat and placing it on beam scale platform 10. Storage in godowns
5. Weighment and unloading of bags from beam scale 11. Fumigation and Quality Control
6. Machine Stitching of bags 12. Destacking from stacks & loading onto trucks
for issue to PDS
Source: MM Analysis
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!! ) % " "
MPWLC has finalised the following activity chain for the proposed Silo
facility.
3.3.2.1 Bulk Procurement at Silo Facility
The bulk arrivals or bulk procurement facilities would be arranged at the

silo site by MPWLC. This would eliminate duplication of activities like
Marking, Filling, Weighing, Bagging, Loading & Unloading at Mandi or
by the procurement societies. The bulk arrivals can directly be moved
for quality check, followed by cleaning (if the grain is found suitable)
and then for preservation and storage. This option would help in
optimising the transportation cost between Mandi to storage point and
also reduce hassles of manual handling at Mandi during peak
procurement season. Bulk wheat as brought by farmer can be straight
away unloaded (after passed through quality check) into the dump-pit or
any other type of mechanized receiving arrangement of the silo facility.
The supply chain considering the bulk arrivals at the Silo facility is as
depicted in the figure below:
Figure 3.2: Chain for Bulk Arrival at Silo Location
Mechanized Receipts
Local Produce of Bulk Arrival at Silo Debagging (If needed)
Wheat - Farmers
Weighing
Storage
Dispatch – Chain
Conveyor, Bucket
Trucks for Further
Dispatch Bagging
Source: Discussion with MPWLC & IMM Analysis
A typical layout plan for setting up of Silo Facilities is attached herewith

as an Annexure G.
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4. Location Analysis
# *
Sehore is one of locations for the proposed Silo facilities in Madhya

Pradesh. The site for setting up the proposed steel grain silo of 50,000
MT capacity is located in the Murli village on an area of about 7 acres.
The detailed address of the site is as follows:
Patwari Halka No. 37, Khasra No. 5, Village Murli, Sehore, Madhya
Pradesh.
The indicative location of the proposed site is depicted in the map

below:
Map 4.1: Location Map
Proposed Site, Village: Murli
Source: IMM Analysis & Secondary Research
# ' " ' + '% , %
The land for the proposed site of 7 acres in Murli village has already
been allotted by the State Government and MPWLC has taken
possession of the same. The documents pertaining to the land
agreement/allotment are attached as Appendix A. This land will be
provided by MPWLC to the developer for setting up the Silo in the
premises.
#! -
The estimated power requirement for the Silo facility is 800 KW, i.e 0.80
MW. The electricity to the proposed site would be made available from
an industrial area HT line passing within the site of the proposed
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project. However, the transformer is required at the project site for

further connectivity to the silo facility.
Moreover the developer will need to have the power back up facilities at
the site for uninterrupted operations of the facility as there is power cut
for about 2 - 3 hours on an average in a day.
The requirement of water for the silo facility would be met by installation
of bore / tube well at the site. The developer would need to install the
bore/tube well by undertaking suitable ground water depth assessment
at the site.
##
The site connectivity is an important factor due to involvement of

storage input from various locations.
The Branch Manager of MPWLC at Sehore, Mr. G.K. Saxena has

provided the details that the proposed site is about 3 kms from the
nearest rail head. The road connectivity of the site to the rail head is
also in place. The rail head is connected by 3 km stretch of Pradhan
Mantri Gram Sadak Yojna (PMGSY) road from the proposed site giving
the site an advantage in rail connectivity.
Also, the state highway, Bhopal – Indore Highway is approximately 10

kms from the location. The PMGSY road connects the site to Bhopal -
Indore highway as well. The approach road to the site is the PMGSY
single lane road. The developer needs to consider any augmentation as
may be required in the approach road within his project costs and
accordingly the developer is advised to visit the site and assess the
local conditions and accessibility and use his technical knowledge in the
matter.
The details regarding the rail/road connectivity & the procurement

centres of the site is detailed in figure below:
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Figure 4.1: Connectivity
Sehore Vijori
Procurement Pachama Bhaukhedi

Centres within 20
Natlakhedi Shyampur
kms radius of Silo
Aariya Jhagariya
Pipliya Meera
Ichavar Jharkheda
Ahmedpur Chandbad
Rail Head B – I Highway
3 kms PMGSY Road 10 kms
Transportation
Steel Silo Site to PDS System
Source: MM Analysis
The procurement centres which are in the range of 20 kms of the site
have the capacity to procure about 60,000 MT of wheat. Some of the
procurement centres which are in the 20 kms range of the proposed
site are tabulated below:
Table 4.1: Details of Procurement Centres in 20 KM range

Names of the Procurement Centres in 20 kms range
Sehore Vrujesh Nagar Jhagariya Jharkheda
Vijori Natlakhedi Pipliya Ahmedpur
Pachama Shyampur Meera Barkheda
Bhaukhedi Aariya Icchavar Chandbad
Source: MPWLC
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5. Wheat Scenario in Madhya Pradesh
. / "'
In Madhya Pradesh, the supply chain of wheat is as shown in figure

below:
Figure 5.1: Supply Chain of Wheat in MP
State Farmers Field

Production
Procurement Societies Mandi Arrivals
State Agencies: Private

FCI
Civil Supply + Procurement
Traders/Dealers
Markfed
Stored by Central, State

and Private Agencies Storage
PDS / Other Schemes Allocation
End Consumers Offtake
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Source: MM Analysis
In MP, as shown in above figure the farmers bring their produce to the
procurement societies The Food Corporation of India and other State
Agencies purchase wheat, paddy and rice in large quantities from these
procurement societies at the minimum support price (MSP) announced
by the Government. If the farmers are able to get a higher price for their
produce, they are free to transact with private players, food grain
dealers and traders. The food grains are then stored at the various
storage facilities of State Agencies, Private Warehouses, Co-operative
Societies, etc. After procurement by the Central Government agencies,
they allocate the wheat to the states under the Targeted Public
Distribution System (TPDS).
For the proposed Silo facility, it is contemplated by MPWLC that bulk

procurements shall be done at the site of the Silo which shall eliminate
few activities and duplication of activities at Mandis and at Silo. The
process of bulk procurement at Silo site shall render benefits in terms of
integrated logistics as well as other factors as stated below:
Handling costs at Mandi would be eliminated as the bulk arrivals will

be directly at the silo location only.
Transportation from Mandi to Storage Point i.e. Silo location would
be eliminated as the bulk arrival of the grains would be at the Silo
location.
Transit Loss from Mandi to Silo would be eliminated
Duplication of the activities like Marking, Filling, Weighing, Bagging,
and Loading & Unloading carried out at the Mandi level & Silo facility
would be eliminated.
Procured grains would be immediately stored in scientific manner
which would preserve the quality and nutritional value.
. / '
. " * "
India is the world’s second largest producer of wheat- accounting for

about 12% of the global wheat production.
Madhya Pradesh is amongst the major wheat producing states of India.

Madhya Pradesh attained a rare achievement beating Haryana &
Punjab in wheat production in the last 10 years. The other major wheat
producing states in India are Uttar Pradesh, Punjab, Haryana,
Rajasthan, Bihar and Gujarat. These states together account for about
95% of total wheat produced in the country.
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Madhya Pradesh’s agricultural growth rate has been increasing over

the years and it was 18 percent during year 2011-12, highest in the
state’s history. The state received the “Krishi Karman” Award from
Central Government and was adjudged as the state with highest
agricultural production in the country. Madhya Pradesh not only
excelled in total agricultural production but beat Haryana and Punjab in
the production of wheat.
The area under the agriculture (and so is the area under wheat
cultivation) in Madhya Pradesh has increased considerably in the past
decade. In 2002-03, the area under wheat cultivation was about 3381
Hectares. This has increased to about 5434 Ha in 2012-13. The
production of wheat in the state has increased from 4.9 MMT in 2002-
03 to about 16.1 MMT in 2012-13. The increase in yield per hectare is
one of the major reasons for the increase in production of wheat. The
details are as tabulated below:
Table 5.1: Wheat Production & Yield Details – Madhya Pradesh

Year Area Production Yield YOY production YOY Yield
(‘000 Hectares) (‘000 Tonnes) (Kg/Hectare) Growth Growth
(%) (%)
2002-03 3381 4923 1456 -
2003-04 4091 7365 1800 49.60% 23.6
2004-05 4200 7327 1745 -0.52% -3.1
2005-06 3785 6200 1638 -15.38% -6.1
2006-07 4275 7848 1836 26.58% 12.1
2007-08 4101 6737 1643 -14.16% -10.5
2008-09 4010 7280 1815 8.06% 10.5
2009-10 4471 8873 1985 21.88% 9.3
2010-11 4645 9227 1986 3.99% 0.1
2011-12 4901 12703 2592 37.67% 30.5
2012-13 5434 16104 2964 26.77% 14.3
Source: Agriculture Department, Government of Madhya Pradesh
The wheat production of Madhya Pradesh for the last decade is

represented graphically in figure below
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Figure 5.2: Wheat Production in Madhya Pradesh (2003-04 to 2012-13)
18
16.1
16
14
Production (in MMT)
12.7
12
10 8.9 9.2
7.4 7.8
7.3
8 6.2 6.7 7.3
6
4
2
0
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MM Analysis based on data of Agriculture Department, Government of Madhya Pradesh
The state has seen moderate increase in wheat production from 2003-
04 till 2008-09. There has been a considerable increase in wheat
produce in the state during the period 2008-09 to 2012-13 as compared
to the previous period. The short term CAGR (last 5 years i.e 2008-09
to 2012-13) is about 21.96% which indicates that considerable
improvement in the growth rate of the wheat produce has been
observed in the state. The Long term CAGR (last 10 years i.e 2003-04
to 2012-13) is about 9.08% which shows that over the longer time
frame, the growth is moderate.
Substantial year on year positive growth in wheat production has been

observed in Madhya Pradesh after year 2008-09.
5.2.1.1 Factors leading to the growth
A moderate growth in the yield (Kg/hectare) of wheat was registered

during 2002-2007. Further from 2008 onwards, the yield registered an
increasing trend. In 2011-12 maximum increase in the yield was
registered- an increase by about 30% over previous year. Thus, the
overall yield nearly got doubled from 1456 Kg/Ha in 2002-03 to about
2964 Kg/Ha in 2012-13. A number of concrete efforts/measures were
taken by the State Government and these were the reasons leading to
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increase in productivity. Significant among this is the financial incentive

the State Government is offering to the farmers to grow wheat
The State Government is providing Rs. 100 per quintal bonus to
farmers on wheat and paddy in addition to the minimum support
price declared by the Union Government.
Further, the discussions with the Director, Agriculture provided the

following key insights leading to the growth in agriculture and that of
production of wheat in Madhya Pradesh:
In Madhya Pradesh, till 2002-03, Agriculture was not the priority

sector. But in the XIth Plan period, the State Government had
increased the budgetary allocation primarily to seek the matching
funds under the Central Government Schemes (RKVY and National
Food Security Mission). Under these schemes, the area and
productivity increase were mainly targeted by the GOI.
The agriculture growth rate in the state had been –ve for many years
between 1996 to 2004. But over the last few years, the agricultural
growth rate in the state has been high, registering double digit
figures in the last two years:
• 2008-09: 9.91% (as against all India figures of 2%)
• 2009-10: 10.62%
• 2010-11: 1.48% (lower due to frost related disaster)
• 2011-12: 18.69%
• 2012-13: 14.28%
Wheat and paddy are not profitable crops for the state, primarily as
majority of the area (70% at present) is rainfed. However, only after
certain interventions were provided for cultivation of wheat and
paddy, the farmers in the state were encouraged to grow these
crops:
• Electricity/Diesel subsidy was provided
• Wells/ponds were dug under MNREGA
• Subsidy was availed under RKVY for increasing the sprinkler

and drip irrigation facilities- additional subsidy provided by the
state government for sprinkler and drip irrigation facilities
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• Sowing of the wheat variety requiring less water ( can grow with
only 3 times water supply)
• Release of water at right time( during the crop growth phase) by

Irrigation Department
• Seed treatment
• Weed control
• Use of Urea only after field is watered ( as against earlier

practice of sprinkling urea and then watering the fields which
would drain the urea out of the soil)
• Usage of Neem coated urea for better retention of the same to

the soil
• Increase of zinc sulphate as micro nutrient for productivity

increase
• Monetary Support by the State Government for growing wheat-

over and above on MSP, the state government provides bonus
of INR 150/quintal.
The above stated measures have enabled the increase in irrigated

area from 10% (of the total cultivated area) in 2002-03 to 30% in
2012-13.
In case of wheat, the average marketable surplus is 70% of the total

production in Madhya Pradesh (20% kept for seed and personal
consumption while another 10% is kept for exchange).
Their expectation for year on year growth rate is around 9% for next
two years subject to the same scenario of rainfall, growth in irrigation
facilities continue in future.
The productivity increase has also been supported by the irrigation

facilities. The priority to irrigation has been given to increase agriculture
production and productivity and constantly the area under irrigation has
also been increasing. During 2001-02 to 2012-13, the state succeeded
in increasing area under irrigation from 9 lakh hectares to 20 lakh
hectares. The State Micro Irrigation Mission has been launched to
ensure better use of irrigation water in the state. Following statistics
explain the development of irrigation facilities within the state of Madhya
Pradesh:
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Table 5.2: Area under Irrigation in Madhya Pradesh

Year Irrigated Area YoY Growth Rate
(In Lakh Ha)
2000-01 7.36 -
2001-02 9.40 27.72%
2002-03 7.69 -18.19%
2003-04 10.07 30.95%
2004-05 10.35 2.78%
2005-06 10.13 -2.13%
2006-07 9.37 -7.50%
2007-08 9.48 1.17%
2008-09 9.71 2.43%
2009-10 8.87 -8.65%
2010-11 9.76 10.03%
2011-12 16.34 67.42%
2012-13 20.21 23.66%
Source: http://www.mpwrd.gov.in/
From the above table it can be seen that the agricultural area under
irrigation has increased almost three times in a decade resulting into
the substantial growth in production of crops including wheat.
At present, majority of the districts in Madhya Pradesh are facilitated

with irrigation facilities. The same has been depicted in the figure
below.
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Photo 5.1: District wise Irrigation Area percentage
Source: www.mp.gov.in/wrd/
On the power supply arena, the feeder separation project has been
launched to provide uninterrupted power to farmers. Also, the subsidy is
being provided to farmers for taking permanent electrical pump
connection.
. * "
The wheat production of Sehore district for the last 10 years is as

tabulated below.
Table 5.3: Wheat Production in Sehore (2003-04 to 2011-12)

Years Production (in MMT)
2003-04 0.3468
2004-05 0.3649
2005-06 0.2334
2006-07 N.A.
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2007-08 0.1890
2008-09 0.2269
2009-10 0.4011
2010-11 0.3272
2011-12 0.6668
Source: Agriculture Department & Land Records, Government of Madhya Pradesh
The wheat production of Sehore in 2003-04 & 2004-05 was about

0.3468 MMT & 0.3469 MMT respectively. The production decreased
considerably in 2005-06 to about 0.2334 MMT. The wheat production in
2007-08 was about 0.189 MMT which had increased gradually for the
next two years and was about 0.401 MMT in 2009-10. But in 2010-11,
the production dropped to 0.327 MMT. Subsequently in 2011-12, the
production doubled to about 0.667 MMT. The following graph depicts
the trend in wheat production in Sehore district over the period 2003-04
to 2011-12.
Figure 5.3: Wheat Production in Sehore (2003-04 to 2011-12)
0.800
0.700
0.67
0.600
Production (in MMT)
0.500
0.36 0.40
0.400
0.35
0.33
0.300
0.23 0.23
0.19
0.200
0.100
0.000
2003-04 2004-05 2005-06 2007-08 2008-09 2009-10 2010-11 2011-12
Year
The short term (2007-08 to 2011-12) CAGR for Sehore district is about
37.05% signifying considerable growth in the recent years & an
increasing trend of wheat production in the district. However the long
term (2003-04 to 2011-12) CAGR is about 8.51% which indicates that in
the long run the growth has been moderate as compared to the growth
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rate in the recent years. However, it can be observed from the year on
year trend of production in Sehore that the production has suddenly
increased from year 2008-09 onwards.
The production details of wheat in Sehore are enclosed as Appendix B.
.! )
In Madhya Pradesh, the farmers bring their produce to the nearby

Mandi where the activities like Marking, Filling, Weighing and Bagging
are done. Then the wheat is procured by the Central/State Procurement
agencies or private sector and the bagged wheat is loaded into trucks
for Dispatch to Storage Depot.
.! " * "
The wheat arrival to the mandis of Madhya Pradesh for the year 2003-
04 was about 2.456 MMT which increased by 55% to about 3.809 MMT
in 2004-05. A reduction was seen in Mandi Arrivals of wheat for the two
consecutive years 2005-06 & 2006-07. The Mandi Arrivals in 2007-08
was about 4.769 MMT registering the highest increase over its
preceding year by about 57% which increased moderately in 2008-09,
but registered a fall in 2009-10 to about 4.355 MMT. In 2010-11 and
2011-12 considerable increase was registered and the mandi arrivals
were about 6.098 MMT and 8.234 MMT respectively. The mandi
arrivals for 2012-13 were about 9.883 MMT indicating an increasing
trend in the past 3 years. The details pertaining to the Mandi Arrivals for
the State is as tabulated below
Table 5.4: Mandi Arrivals in Madhya Pradesh (2003-04 to 2012-13)

Years Mandi Arrivals(In MMT) Y.O.Y Growth Rate(%)
2003-04 2.456 18.10%
2004-05 3.809 55.07%
2005-06 3.136 -17.67%
2006-07 3.037 -3.13%
2007-08 4.769 57.02%
2008-09 4.990 4.62%
2009-10 4.355 -12.72%
2010-11 6.098 40.02%
2011-12 8.234 35.03%
2012-13 9.883 20.03%
Source: www.mpmandiboard.gov
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The short term CAGR (2008-09 to 2012-13) is about 18.63% indicating

considerable increase of Mandi Arrivals in recent years. The long term
CAGR (last 10 years) is about 16.73% which also indicates that the
Mandi Arrivals during the last decade has been growing. The following
graph depicts the year-wise Mandi Arrivals of wheat during the period
2003-04 to 2012-13.
Figure 5.4: Mandi Arrivals of Wheat in Madhya Pradesh (2003-04 to 2012-13)

12.00
9.88
10.00
Mandi Arrivals (in MMT)
8.23
8.00
6.10
6.00
4.77 4.99
4.36
3.81
4.00 2.46 3.14 3.04
2.00
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: Mandi Board website
.! * "
The Mandi Arrivals of Sehore district for the last 10 years is as

tabulated below
Table 5.5: Mandi Arrivals in Sehore (2003-04 to 2012-13)

Years Mandi Arrivals (in MMT) Y.O.Y Growth Rate(%)
2003-04 0.124 12.17%
2004-05 0.223 80.29%
2005-06 0.143 -35.69%
2006-07 0.121 -15.26%
2007-08 0.208 70.92%
2008-09 0.215 3.56%
2009-10 0.136 -36.88%
2010-11 0.297 118.60%
2011-12 0.437 47.29%
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2012-13 0.506 15.80%
The Mandi Arrivals for the district in 2003-04 was about 0.124 MMT
which increased by 80% to about 0.223 MMT in 2004-05. During 2005-
06 & 2006-07, a drop in Mandi Arrival was registered which thereafter
increased by about 71% in 2007-08. The Mandi Arrivals fell in 2009-10
by about 37% over preceding year. The Mandi Arrivals in 2010-11
registered the highest growth of more than doubling the arrivals over its
previous year to about 1.297 MMT. The increasing trend was followed
in 2011-12 and 2012-13 with Mandi Arrivals of about 0.437 MMT &
0.506 MMT respectively
The short term CAGR (2008-09 to 2012-13) for Sehore district is about
23.86% indicating considerable increase in Mandi Arrivals. But the long
term CAGR (2003-04 to 2012-13) for Mandi Arrivals is about 16.95%
which indicates that an increasing trend of Mandi Arrival in the district
has been registered over decade. The following graph depicts the year-
wise Mandi Arrivals for Sehore district for period 2003-04 to 2012-13.
Figure 5.5: Mandi Arrivals of Wheat in Sehore (2003-04 to 2012-13)
0.60
0.51
0.50
0.44
0.40
0.30 0.30
0.22 0.21
0.22
0.20
0.14
0.14
0.10 0.12 0.12
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
It can be observed from the above graph that the mandi arrivals at
Sehore district have increased steeply over the last 4 years.
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The details of mandi arrivals in Sehore are enclosed as Appendix C.
.# ' %
When the farmer brings the wheat to the mandi, it is in the form of
harvested stalks with wheat grains attached to it. It needs to be cleaned
before the grains can be weighed. Before the auction, the grain is
cleaned, dried and sampled. After cleaning, the grains are heaped. The
stock is then auctioned in the presence of the Procurement Agency
Representative, Marketing Board Representative, Food and Civil
Supplies Inspector, procurement society representative and farmer.
In Madhya Pradesh, if the buyer is the state procurement agency, the

price offered is the Minimum Support Price (MSP) plus the bonus
amount. The procurement price is set by the Commission for
Agricultural Costs and Prices (CACP) based on considerations of cost
of production and includes a “fair” return to land and family labour of the
farmers. The Food Corporation of India and other State Agencies
purchase wheat in large quantities from mandis at the minimum support
price (MSP) announced by the Government.
.# " * "
In Madhya Pradesh, the State agencies have started procuring wheat

substantially from 2007 onwards. The wheat procurement by State
Agencies in Madhya Pradesh for the last 10 years is as tabulated below
Table 5.6: Procurement in Madhya Pradesh (2003-04 to 2012-13)

Years Procurement (in Y.O.Y Growth Rate(%)
MMT)
2003-04 0.200 -44.50%
2004-05 0.349 74.34%
2005-06 0.484 38.77%
2006-07 0.000 -
2007-08 0.057 -88.12%
2008-09 2.410 4092.61%
2009-10 1.967 -18.37%
2010-11 3.538 79.83%
2011-12 4.965 40.35%
2012-13 8.508 71.35%
Source: MPSCSCL
Since the concerted efforts on procurement of wheat by the state

agencies started in 2007 in Madhya Pradesh, thus before that the
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wheat Procurement was quite negligible. The growth rate was negative
in the earlier years and in the year 2006-07 there was no procurement.
Based on the efforts of the State agencies, substantial procurement
started in 2008-09 which was 2.410 MMT which showed an increasing
trend in later years and was about 8.508 MMT in 2012-13. Thus, the
procurement by the State Agencies during recent years has been
considerably high owing to the incentives provided by the State
Government to the farmers like providing Rs. 100 per quintal bonus on
wheat and paddy in addition to the minimum support price declared by
the Union Government so that they get fair price for their produce.
The short term CAGR (2008-09 to 2012-13) of wheat Procurement by

the State agencies is about 37.07% which is a considerable increase
during the period.
The following graph gives the year-wise wheat procurement in Madhya

Pradesh over the period 2003-04 to 2012-13
Figure 5.6: Wheat Procurement in Madhya Pradesh (2003-04 to 2012-13)
9
8.508
8
7
Procurement (in MMT)
5 4.965
4
3.538
3
2.41 1.967
2
1 0.2 0.484
0.349 0.057
0
0
2006-07
2003-04
2004-05
2005-06
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
.# * "
As discussed earlier, the State agencies in Madhya Pradesh started

procuring wheat substantially from 2007 onwards. The wheat
procurement by State Agencies in Sehore district for the last 10 years is
as tabulated below.
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Table 5.7: Procurement of Wheat in Sehore (2003-04 to 2012-13)

Years Procurement (In MMT) Y.O.Y Growth Rate(%)
2003-04 0.007 -44.42%
2004-05 0.016 136.61%
2005-06 0.027 68.40%
2006-07 0.000 -
2007-08 0.001 -
2008-09 0.106 8722.48%
2009-10 0.068 -36.15%
2010-11 0.195 187.50%
2011-12 0.234 20.30%
2012-13 0.416 77.66%
Source: MPSCSCL
The same trend of wheat procurement is noticed at the district level as

was registered at the State level. The procurement of wheat by the
State agencies in 2008-09 was about 0.106 MMT which showed an
increasing trend in 2012-13 to 0.416 MMT. The procurement by the
State Agencies during recent years showed considerable high growth
owing to the incentives provided by the State Government to the
farmers leading to higher production.
The short term CAGR (2008-09 to 2012-13) of wheat procurement by

the State agencies in the Sehore district is about 40.74% which shows
considerable increasing trend. The following graph depicts wheat
procurement in Sehore district over the period 2003-04 to 2012-13
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Figure 5.7: Wheat Procurement in Sehore (2003-04 to 2012-13)

0.450
0.416
0.400
0.350
0.300
0.250
0.195 0.234
0.200
0.150
0.106
0.100
0.050 0.016 0.027 0.068

0.007 0.001
0.000
0.000
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
.. "'%% / "
The supply chain of wheat has been summarised in the following table.
Table 5.8: Summary of Wheat Scenario (MMT)

Year Production Mandi Arrivals Procurement
State Sehore State Sehore State Sehore
District District District
2002-03 4.923 - - - - -
2003-04 7.365 0.347 2.456 0.124 0.200 0.007
2004-05 7.327 0.365 3.809 0.223 0.349 0.016
2005-06 6.200 0.233 3.136 0.143 0.484 0.027
2006-07 7.848 N.A. 3.037 0.121 0.000 0.000
2007-08 6.737 0.189 4.769 0.208 0.057 0.001
2008-09 7.280 0.227 4.990 0.215 2.410 0.106
2009-10 8.873 0.401 4.355 0.136 1.967 0.068
2010-11 9.227 0.327 6.098 0.297 3.538 0.195
2011-12 12.703 0.667 8.234 0.437 4.965 0.234
2012-13 16.104 N.A. 9.883 0.506 8.508 0.416
Source: MM Analysis based on data of Madhya Pradesh State Agencies
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6. Storage Facilities
In Madhya Pradesh, there are three agencies in the public sector which
are engaged in building large scale storage or warehousing capacity.
These are:
Food Corporation of India (FCI)
Central Warehousing Corporation (CWC) & State Warehousing
Corporations
State Procurement Agencies – Co-operative Societies, etc
Foodgrains procured by FCI and State/Govt agencies are stored in

godowns as well as cover and plinth (CAP).
The agency wise storage facilities for the past 7 years in the Madhya
Pradesh is as tabulated below
Table 6.1: Storage Facility in Madhya Pradesh (in Lakh Tonnes)

Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
MPWLC 10.47 10.97 11.29 11.47 11.61 11.66 11.86
CWC 4.52 4.52 4.56 4.56 4.56 4.56 4.56
MARKFED 5.06 5.06 5.29 5.29 5.43 5.43 5.43
FCI 3.29 3.29 3.29 3.29 3.29 3.29 3.29
MANDI BOARD 2.57 2.57 2.62 2.62 2.62 2.62 2.62
CO-OPERATIVE SO. 4.63 4.63 4.63 4.63 4.63 4.63 4.63
LVS 2.92 2.92 4.00 4.00 4.00 4.00 4.00
OILFED 2.07 2.07 2.07 2.07 2.07 2.07 2.07
M.P.AGRO 0.31 0.31 0.31 0.31 0.31 0.31 0.31
NAFED 0.15 0.15 0.15 0.15 0.15 0.15 0.15
PRIVATE warehouse (Rular
godon scheme) 18.64 26.23 33.51 39.56 44.90 53.13 69.08
RIDF MPWLC - - - - - - -
PEG godown (Prt.) - - - - - - -
PIG (SILO) - - - - - - -
MPWLC (SILO) - - - - - - -
BUNDHELKHAND VISHESH
PACAKAGE - - - - - - -
IAP - - - - - - -
Warehousing & Logistics
Policy (Early Bird) - - - - - - -
Total 54.63 62.72 71.72 77.95 83.57 91.85 108.00
Y.O.Y Growth Rate in Storage
capacity (%) 14.81% 14.35% 8.69% 7.21% 9.91% 17.58%
Source: MPWLC
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The total storage capacity in 2006-07 was about 54.63 Lakh MT which
increased by about 14% in 2007-08 to 62.72 Lakh MT and by about
14% in 2008-09 to 71.72 Lakh MT. The growth in the storage capacity
was moderate in 2009-10 & 2010-11 which registered a growth of about
8 to 9%. In 2011-12, the storage capacity increased by about 10% over
previous year and was about 91.85 Lakh MT which thereafter increased
by 17.58% and was about 108.00 Lakh MT in 2012-13.
The expansion plans for storage capacity by different agencies in

Madhya Pradesh during 2013-14 & 2014-15 are tabulated below:
Table 6.2: Storage Facility expansion plans in Madhya Pradesh by 2014-15

(in Lakh Tonnes)
Agency Name Proposed Expansion Total Capacity as
of 2014-15
MPWLC 6.23 18.09
CWC 1.3 5.86
MARKFED 5.43
FCI 3.29
MANDI BOARD 2.62
CO-OPERATIVE SOCIETY 4.63
LVS 4.00
OILFED 2.07
M.P.AGRO 0.31
NAFED 0.15
PRIVATE warehouse (Rural
Godown Scheme) 2 71.08
RIDF MPWLC 7 7.00
PEG godown (Private) 12.85 12.85
PEG (SILO) 3.5 3.50
MPWLC (SILO) 5 5.00
PACKAGE 6.5 6.50
IAP 1.8 1.80
Warehousing & Logistics Policy
(Early Bird) 15 15.00
Total 61.18 169.18
Source: MPWLC
The total anticipated expansion in the storage capacity by various

agencies between years 2013 to 2015 is proposed to be about 61.18
Lakh MT thereby enhancing the capacity in 2014-15 to about 169.18
Lakh MT.
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The short term CAGR (last 5 years) i.e. for the period 2010-2015 is
about 15% and the long term CAGR (last 9 years) i.e. for the period
2006-2015 is about 13% which signifies that the growth rate of the
storage capacity is increasing moderately in the range of 13% to 15%.
The details regarding the district wise storage facility as provided by

MPWLC have been enclosed as Appendix E.
The agency wise break-up of the storage facility is as tabulated below:
Table 6.3: Agency wise break-up of Storage Facility

Agency 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Name 2014-15
MPWLC 19% 17% 16% 15% 14% 13% 11% 21% 27%
CWC 8% 7% 6% 6% 5% 5% 4% 4% 3%
MARKFED 9% 8% 7% 7% 6% 6% 5% 4% 3%
FCI 6% 5% 5% 4% 4% 4% 3% 2% 2%
MANDI
BOARD 5% 4% 4% 3% 3% 3% 2% 2% 2%
Co-Op. Soc. 8% 7% 6% 6% 6% 5% 4% 3% 3%
Private 34% 42% 47% 51% 54% 58% 64% 55% 50%
Others 10% 9% 9% 8% 8% 7% 6% 9% 11%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Source: MPWLC
In 2012-13, MPWLC has about 11% of the storage capacity while that
of CWC & MARKFED are around 4% & 5% respectively. FCI, Mandi
Board and Co-operative society respectively have around 3%, 2% & 4%
of the storage capacity. A significant proportion of the storage capacity
in Madhya Pradesh is owned by the private developers, nearly 60%.
The other agencies like Olifed, MP Agro etc together have around 9%
of the total capacity.
Agency wise present storage facilities in the district of Sehore are

tabulated below.
Table 6.4: Storage Facilities in Sehore (as on 28-09-2012)

Sr. No. Name of Agency Capacity
(in MT)
1 WLC 27000
2 FCI 0
3 CWC 0
4 Markfed 9600
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(in MT)
5 Olifed 48490
6 Private 130594
7 Mandi Board 6400
8 Co-op Society 14360
Total 236444
Source: MPWLC
0 " $ % "
Storage infrastructure is required to cover the time lag between

production and consumption.
The storage gap has been assessed based on the historical trend of
production, Mandi Arrivals and Storage facilities within the district of
Sehore.
As discussed in the previous section of this report, out of total

production in Sehore about 67% of the wheat was traded at mandis.
Based on the past production trends of wheat in the district (as

discussed in the previous chapter of this report), the future production
of wheat in the district is expected to increase at 8.94% in the short
term i.e next five years. However, after 5 years the production may
stabilise (with the optimum utilization of land) and could register 5%
growth rate for next 5 years after which the production can be expected
to grow at national growth rate of 3% in the subsequent years.
On the growth of storage infrastructure in the state, it was informed by

MPWLC that the growth rate in storage facilities in near future (for next
two years) is expected to be 5%.
The projections of the wheat production (based on assumptions as

mentioned above), mandi arrivals (at 67.54% of total production) and
storage facilities have been worked out. Based on the same,
anticipated storage gap in the district has been arrived at and is
tabulated as in following table.
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Table 6.5: Storage Gap Assessment
Year Production Mandi Arrivals Storage Facilities Storage Gap

2012-13(actual) 749220 506010 278018 227992
2013-14 816167 551225 356764 194461
2014-15 889097 600481 435510 164971
2015-16 968544 654138 435510 218628
2016-17 1055089 712589 435510 277079
2017-18 1149369 776264 435510 340753
2018-19 1206837 815077 435510 379567
2019-20 1267179 855831 435510 420321
2020-21 1330538 898622 435510 463112
2021-22 1397065 943553 435510 508043
2022-23 1466918 990731 435510 555221
2023-24 1509605 1019561 435510 584051
2024-25 1553535 1049230 435510 613720
2025-26 1598743 1079763 435510 644253
2026-27 1645266 1111184 435510 675674
2027-28 1693143 1143519 435510 708009
2028-29 1742414 1176796 435510 741286
2029-30 1793118 1211041 435510 775531
2030-31 1845298 1246282 435510 810772
2031-32 1898996 1282549 435510 847039
2032-33 1954257 1319871 435510 884361
Source: MM Analysis
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7. Project Cost & Means of Finance
The estimated cost of Grain silo project is INR 3063.52 Lakhs, the
breakup of the same has been tabulated below.
Table 7.1: Project Cost Estimates

Land 0.70
Contingency 135.04
Margin Money 8.93
Total Capital Cost 3063.52
Source: MM Analysis & Assumptions
1 * * %
To construct the silo facility, the estimated land requirement is 7 (seven)

acres (as per Industry norms). For the proposed Silo project in Madhya
Pradesh, the required land would be allotted by the State Government.
Hence the cost of land has been considered as nil for evaluation of the
project on standalone basis. However, the developer would need to
incur expenses on site development activities which are estimated as in
table below.
Table 7.2: Land and Land Develpoement Cost

Quantity
Particulars (Acres) INR /Unit INR Lakh
Land 7.00 0.00 0.00
Land Development 7.00 10000 0.70
Total Land & Land Development
Cost 0.70
1 2' /
The requirement of the Buildings and civil works for the project has
been discussed below along with the respective cost estimations. The
building and civil works cost is estimated to be 1445.63 Lakhs. The
detailed breakup of the same is given as table below:
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Table 7.3: Break up of Building and Civil Works Cost

Particulars Units Quantity INR/ Unit* INR Lakhs
Silos Foundations Trenches and Elevators Pits (Concrete
8400 11000 924.00
Grade - M30) Cu.m
Bag Storage Godown with PEB structure Sqm 1500 9500 142.50
Utility & maintenance workshop PEB structure Sqm 500 9500 47.50
Administrative Building Sqm 400 14000 56.00
Security Rooms Sqm 100 12500 12.50
Laboratory Rooms Sqm 100 12500 12.50
Weighbridge RCC base RCC pit and RCC pedestals Sqm 60 9500 5.70
Internal Roads - 10 m wide (flexible pavement - 2 Lanes (3.75m
either side) with HPSS of 1m (either side) including 0.25m of 1.5 7200000 108.00
plantation (either side) Kms
Open Car parking area with cement concrete paved area Sqm 150 2500 3.75
Truck parking area including Intake Pits area with cement
2266 3000 67.98
concrete paved area Sqm
Truck parking for empty trucks with WBM and Bitumen Top
1000 2500 25.00
coat Sqm
Rain Water Pool with side brick walls and soft soil base to soak
500 2000 10.00
water Sqm
Boundary wall including gates, barbed wire etc. Rmt 740 3000 22.20
Soft landscaped Area Sqm 1000 800 8.00
Total Buildings and Civil Works Cost 1445.63
Source: MM Analysis *Cost are based on Discussions with In house Engineering Personnel and Industry Standards.
1 ! )
Cost of Plant and machinery has been considered with storage capacity
of 50000 MT and material handling rate of 60 TPH for loading of silos.
Silo configuration comprises 4 Nos. of Silo Bins with capacity of 12500
MT each.
The total cost of Plant and Machinery is estimated to be 966.95 Lakhs

(after optimization of costs with plant & machinery suppliers by sourcing
some machinery from local sources). For estimation of the cost of plant
and machineries, the consultant had invited quotations from the various
manufacturers and suppliers of the grain storage bins along with allied
facilities both local and international but had received quotations only
from the following manufacturers:
1) SKAFCO Grain Systems Company
2) Buhler (India) Pvt. Limited
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3) Osaw Agro Industries Private Limited
The broad cost estimates for primary plant & machinery based on the
quotations obtained are tabulated as below:
Table 7.4: Plant and machinery Cost Estimates

Plant and Machineries SKAFCO BUHLER Agrosaw
Plant and Machineries
Total Cost of Equipments
procured locally (Domestic) 263.36 0.00 128.14
imported 580.63 884.72 975.17
844.00 884.72 1103.31
Import Duty 10% 58.06 88.47 97.52
CST 2.0% 5.27 0.00 2.56
Inland Freight 3.0% 17.42 26.54 29.26
Erection and Commissioning 5.0% 42.20 44.24 55.17
Total P & M Cost *966.95 1043.97 1287.81

Source: MM Analysis based on Quotations of and Discussions with P & M Suppliers
The consultant has considered that total cost of Plant & Machinery to
be 966.95 Lakhs of the manufacturer SKAFCO.
All quotations received from plant & machinery suppliers have been
enclosed at Appendix F.
* After due consultation with the suppliers of Silo bins & allied facilities,
the consultant has done optimisation of the cost of plant and
machineries. The reduction in cost of plant and machineries has been
due to procurement of few types of equipment locally (from domestic
market). The savings due to procurement of equipments locally and
optimum cost of plant and machineries is tabulated as follows:
Table 7.5: Optimum Cost of Plant & Machineries - SKAFCO

Savings due
to Local Final Price
Sr. Price Price Procurement after
No. Heads (US$) (INR) (%) Savings Procurement
1 Silo & Accessories 1005837 55321057 0% 55321057 0%
2 Anchor Bolts and Accessories 12021 661177 30% 462824 30%
Aeration Systems –3.4 M3
3 /Hr/Tonne –Wheat (1/19 CFM)
Aeration System 54066 2973630 0% 2973630 0%
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Savings due
Centrifugal Fan 30686 1687752 30% 1181426 30%
Others 4048 222662 0% 222662 0%
4 Roof Exhausters 19879 1093323 0% 1093323 0%
Wireless Centralized Temperature
5 Monitoring System 64011 3520611 0% 3520611 0%
6 High/Low Level Switches 1432 78760 0% 78760 0%
Silo Sweep Augers –75 TPH
7 (Wheat)**
Sweep Auger 33054 1817992 30% 1272594 30%
Others 6867 377663 0% 377663 0%
8 Material Handling Equipments
Bucket Elevator E1 24423 1343287 25% 1007465 25%
Chain Conveyor CC1 12048 662659 25% 496994 25%
Silo Loading Chain Conveyors-CC2-
4 95450 5249764 25% 3937323 25%
Return Chain Conveyors DC1-3 71931 3956189 25% 2967141 25%
Chain Conveyor for Waste CC5 8881 488439 25% 366329 25%
Bucket Elevator for Waste E4 14301 786561 25% 589920 25%
9 Cleaner & Bagging Section
Grain Cleaner CL1 Capacity - 150
TPH Wheat 67100 3690484 30% 2583338 30%
Model 1505HBT Hopper Bottom Silo
Prior to Bagging (S5) 11614 638795 30% 447156 30%
Bagging System B1@ 25 TPH 58159 3198748 30% 2239123 30%
Model 1502HBT-60 Hopper Bottom
Dust Silo DB1 -63.3m3 14896 819253 30% 573477 30%
10 Support Structures & Catwalks
Bucket Elevator Support Tower for
E2 78962 4342883 35% 2822874 35%
Catwalks and Supports for Silo
Loading Chain Conveyors-CC2-4 51429 2828620 35% 1838603 35%
Others 24142 1327818 35% 863082 35%
Total 1675840 92171222 84399633
Total Cost of Equipments procured
locally (Domestic) 26336486
Total Cost of Equipments imported 58063147
Import Duty 10% 5806315
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Savings due
CST 2.0% 526730
Inland Freight 3.0% 1741894
Erection and Commissioning 5.0% 4219982
Total P & M Cost 96694553
Source: MM Analysis & consultation with SKAFCO
As far as Indian Standards (Bureau of Indian Standards- BIS) are

concerned, there is no specific IS Code for steel silo facility. However,
there are prescribed IS codes for steel structures, material handling
equipments, utilities and allied facilities.
The layout plan for typical Silo facility is provided in Appendix G.
1 # 3 + ' % -
Other than the primary plant & machinery, electrical, automation and
utility equipments shall also be required to operate the Silo facilities.
The details of the electrical, automation and other utility equipments are
given as table below:
Table 7.6: Cost of Electricals, Automation and Other Utilities

Electricals, Automation and
Unit Qty INR/Unit INR Lakhs Remarks
Other Utilities
Fire Water Storage Tank, Fire Water
Pumps, Fire Extinguishers located at
strategic points (Combination of DCP
and CO2 Fire extinguisher) Fire
Water Network with hydrant and
Fire Fighting Arrangements Lumpsum 1 4000000 40.00 water monitor points Between
Hydrant points hose boxes are kept
with 2 nos. delivery hoses and nozzle
Automatic fire protection (Fixed)
medium velocity sprinkler system -
heat detection through quartzite bulbs
Weighbridge Nos. 2 800000 16.00 -
2 DG sets of 380 KVA capacity are
DG sets Nos. 2 2000000 40.00
proposed, 1 operating + 1 standby
Transformer Nos. 1 1800000 18.00 33 KV/433V or 415 V
Rs. 750 per KW - Fixed charge +
Electric Connection Cost Nos. 1 1200000 12.00 Rs.5,00,000 to Rs.5,50,000 (approx.)
- connection cost
General panel for low tension Lumpsum 1 1500000 15.00 -
Reversing Switch Lumpsum 1 700000 7.00 from General Panel for Low Tension
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Other Utilities
Radio Frequency Identification
RFID Cost Lumpsum 1 6000000 60.00 Device - For monitoring of entire
process flow
Work Shop Equipment Lumpsum 1 1200000 12.00 As per industry standards
Lab Equipments Lumpsum 1 1200000 12.00 As per industry standards
Fumigation Spraying System Lumpsum 1 1800000 18.00 As per industry standards
Office Furniture Lumpsum 1 1500000 15.00 As per industry standards
Borewell cost + Submersible Pump
Raw Water and Borewell Lumpsum 1 700000 7.00
@ 2Hp/Hr, Capacity of 180 to 5 LPM
Emergency Usage Vehicle Lumpsum 1 1200000 12.00 As per industry standards
25000 WL capacity tanks for general
Water Tanks (General use) Lumpsum 2 175000 3.50 use, However Fire fighting water tank
can also be utilised for general usage
Total Cost of Electricals,
Automation and Other 287.50
Utilities
Source: MM Analysis based on discussions with industry players and in house engineering personnel and Industry Standards.
1 . %
Preliminary and Pre operative expenses are considered as per industry

standards and the detailed breakup of the same is given as table below:
Table 7.7: Preliminary and Pre operative Maintenance cost

Particulars Unit. Value Months INR Lakhs
Management Executive Salaries 4 Nos. 65000 15 39.00
Engineering Consultancy Services (Project Cost * %) % of PC 2% 54.02
Company Formation/Registration Exp. Lumpsum 25.00
Admin and Communication Lumpsum / Month 10000 15 1.50
Interest During Construction % Interest on Debt 10.50% 6 99.25
Total P & P Expenses 218.77
1 0
Contingency cost has been estimated at 5% of the total block cost of

the project, which amounts to 135.04 Lakhs.
1 1 ) ) /
Working capital requirements have been estimated based on following

assumptions:
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Table 7.8: Working Capital Norms

WC norms Months Proportion
Debtors 1 -
Stores & Spares 3 -
Margin Money for WC - 25%
Bank Finance 75%
Interest rate on Bank Finance 12.00%
Source: MM Assumptions
Based on the above mentioned assumptions, margin money for working

capital requirement of the first year of operation is estimated at 8.93
Lakhs.
1 ) 4
It is considered that the capital investment required for development of

the proposed project would be funded by a mix of equity and debt in the
proportion of 30:70. Equity shall be put in by the developers while debt
would be financed by banks or financial institutions.
The proposed break up of sourcing of funds under base case for

development of the silo project is tabulated as:

Description Amount (Rs. Proportion (% of
Lakhs) TPC)
Total Project Cost (TPC) 3063.52 -
Equity 919.06 30.00%
Apart from debt and equity, project is also eligible for viability gap fund.
As stated in State Warehousing & Logistics Policy 2012 - each project

is eligible for viability gap funding of 20% of total project cost under the
VGF policy. However, the State Government may also provide upto a
maximum of additional 20% viability gap funding support, if required.
For the base case feasibility study of the project, the consultant has not
considered availability of VGF. However, sensitivity analysis has been
carried out to assess the impact of VGF on viability of the project.
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8. Financial Feasibility Study
5 '%
This section provides various assumptions considered for operational

parameters, revenue stream, cost parameters and other financial
assumptions considered for evaluation of the project.
5 2 '%
Financial analysis has been carried out for 30 years of span of
concession period
100% utilization of facilities considered even after 10 years of
guaranteed period for base case financial feasibility study.
100% facilities shall be utilized for central pool requirements over
the complete project life.
No VGF availability for base case financial feasibility study.
5 '%
8.1.2.1 Storage Capacity and Feed rate
Storage capacity considered for the proposed project is 50,000 MT (4

bins of 12,500 MT capacity each) and the feed rate to the Silo is
assumed to be 60 Tonnes / Hour.
8.1.2.2 Operating Days
The proposed Silo storage facility is assumed to work for 360 days in a
year.
8.1.2.3 Escalation Rates
The consultant has considered different escalation rates for various

parameters of costs and revenues. Details of the escalation rates
considered for various parameters are given as table below:
Table 8.1: Various rates considered

Rate of Basis
Various Financial parameters
Escalation
Receipt and Dispatch Charges 5.91% CAGR of WPI*
Storage Charges 5.91% CAGR of WPI
Power Cost 3.00% Industry Practice
Manpower Cost 6.00% Industry Practice
Administrative Expenses 5.00% Industry Practice
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Rate of Basis
Escalation
Contract Labour 5.00% Industry Practice
Fumigation Cost 5.00% Industry Practice
Repair and Maintenance 5.00% Industry Practice
Insurance on Grain 5.00% Industry Practice
*Calculation of CAGR of Wholesale Price Index is given as table below:

Financial Year Wholesale Price Index
2011-2012 156.13
2010-2011 143.32
2009-2010 130.81
2008-2009 126.02
2007-2008 116.63
2006-2007 111.35
2005-2006 104.47
CAGR 5.91%
Source: www.eaindustry.nic.in
5 ! ' '%
The major sources of revenue for the proposed project are mainly from
handling and storage of grains (mainly wheat).
Food grains handling involves loading, unloading, testing, weighing,

bagging and debagging of food grains. On the other hand, storage
charges are divided into two parts, viz, Fixed Charge and Variable
Charge.
For the concession period, fixed charge shall be payable irrespective of

the quantum of food grains actually handled while the variable charge
shall be linked directly to the quantum of food grains handled.
Revenue assumptions as explained above are tabulated below.
Table 8.2: Revenue Assumptions

Revenues (2013)
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Revenues (2013)
As per details provided in the Information Memorandum, the fixed

charges have been reduced by 1% p.a. over the concession period and
have been indexed to the Wholesale Price Index. The fixed charges will
not normally be subject to any other increase during the period of
Concession.
The variable charges have been linked to the quantum of food grains
handled and stored and shall be paid on monthly basis for the storage
and preservation of the grains stored in the Silos. The variable charge
shall be linked fully to variation in WPI.
Also, separate charges shall be paid by central government towards

expenses incurred for associated services such as loading, unloading,
testing, weighing, bagging and debagging of food grains at actual which
are estimated at Rs. 9.12 per quintal for base case as per the break up
provided by MPWLC. The breakup of the same has been provided
under assumption of operating expenses, “Receipt & Dispatch Charge”.
Note: Commission charges are being paid by the central government

on the value of actual quantity of grains handled for central pool supply
by the silo operator. So revenues from commission charge would
primarily depend on quantity handled for central pool from the proposed
silo. However for this project the GOI has not given any commitment for
usage of silo facilities. Hence revenues from commission charge may
vary during operations of the project and may affect the financial
feasibility of the project. However, for base case evaluation in due
discussion with MPWLC, 1% of commission charge as revenues has
been considered.
5 # '%
The subsequent section provides the various cost assumptions

considered for financial feasibility of the project like cost of Power,
Manpower, Fumigation in Silo, Repair and Maintenance, Insurance,
Administrative, Depreciation and Taxation.
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8.1.4.1 Power Cost
The total power cost is estimated to be 72 Lakhs p.a. The detailed

assumption for estimating power cost is provided as table below:
Table 8.3: Power Cost Details

Power Cost Quantity Unit
Connected Load 800 KW
Load Factor 21%
Cost per KWH 5.00 Rs./KWH
Working Days in an year 360 Days
Source: MM Assumptions & Industry Standards
8.1.4.2 Manpower Cost
Details of number of manpower required and their costs are given as

table below:
Table 8.4: Cost Assumptions for Permanent Manpower

Cost Total Cost
Permanent Manpower cost Nos. INR /Yr. INR Lakhs
Manpower Category
Business Head 1 900000 9.00
Management Executives 2 360000 7.20
Lab Technician 1 216000 2.16
Assistant Lab Technician 2 180000 3.60
Clerks 1 144000 1.44
Silo Operators – General 2 180000 3.60
Fumigation Expert 1 300000 3.00
Weighbridge Operators 2 180000 3.60
Electricians - ITI 1 180000 1.80
Mechanical - ITI 2 180000 3.60
Peons 2 72000 1.44
Watch Guards 6 72000 4.32
Driver of Emergency Vehicle 1 60000 0.60
Total Manpower Cost 24 45.36
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8.1.4.3 Receipt & Dispatch Expenses
As per discussions and details provided by MPWLC, expenses

estimated for sampling of wheat, laboratory testing, weighing, handling
of wheat procured and bagging after evacuation are tabulated as:
Table 8.5: Cost Assumption for Contract Labour

Contract Labour Unit Nos.
Sampling of Wheat, laboratory testand
Rs./quintal 2.00
weighment
Handling of procured wheat till filling of silo
Rs./quintal 3.00
bags
Bagging and stitching after evacuation Rs./quintal 2.12
Stacking Rs./quintal 2.00
Total Cost Rs./quintal 9.12
Source: MM Analysis
The above expenses are reimbursable at actuals by Government of

India.
8.1.4.4 Fumigation Cost
Fumigation is required twice in a year. For fumigation, about 27 grams

of fumigation material is required which costs around Rs.0.60 per gram.
Cost of fumigation per MT is estimated to be Rs. 16.20 per MT.
8.1.4.5 Repair & Maintenance Cost
During the initial few years of operations, since the assets are newly
built up or installed, repairs and maintenance expenses would be lower.
As the time passes and assets become older, expenses towards
repairs and maintenance increases over period of time. The expense
assumed by the consultant towards repairs and maintenance as
percent of gross block of assets and the same are tabulated as:
Table 8.6: Repairs & Maintenance Expenses

Duration Unit Value
For first 5 years on Block Cost 1.00%
From 6th year to 10th years on Block Cost 2.50%
11th years onwards on Block Cost 4.00%
Source: MM Assumption
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8.1.4.6 Insurance Cost
The Insurance has to be considered for the grain stored in the Silo and
the overall project facilities.
Details of the insurance cost considered for the financial evaluation of

the project are given as table below:
Table 8.7: Insurance Cost

Sr. No. Insurance Cost Units
A. Grains Stored 50000 MT
Estimated Cost of Grains per Tonne 15500 INR/Tonne
Total Value of Grain 7500 INR Lakhs
Insurance Cost as % of Total Value 0.30%
Insurance Cost for Grains 22.50 INR Lakhs
B. Project Facilities
as % of Project Cost 0.30%
Insurance cost for Project Facilities 9.20 INR Lakhs
8.1.4.7 Administration Expenses
An administrative expense, based on the standard industry practice, is

assumed to be 1% of the total revenues of the respective year.
8.1.4.8 Depreciation
The depreciation rates have been applied as prescribed by Companies

Act, 1956 for Straight Line Method and Income Tax Act, 1961 for
Written-down Value Method. Details of the same are given as table
below:
Table 8.8: Depreciation Rates

Depreciation Rates SLM WDV
Land and Site Development 0.00% 0.00%
Buildings and Civil Works 3.34% 10.00%
Plant and Machinery 5.00% 15.00%
Utilities and Other Miscellaneous FA 5.00% 15.00%
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8.1.4.9 Taxation
Taxation rates have been considered as prescribed by Income Tax Act,

1956. Effective rates on Income Tax and MAT considered are 32.45%
and 20.01 % respectively.
Table 8.9: Tax Rates

Tax Rates Rates
Income Tax 32.45%
MAT 20.01%
As per Section 35AD (Source: Income Tax Act, 1956), the business of
setting up and operating a warehousing facility for storage of
agricultural produce is considered as a “specified business” for the
purposes of section 35AD by virtue of provisions contained in sub-
clauses and so, the expenditure of capital nature incurred, wholly and
exclusively, for the purpose of such business is allowable as a
deduction. Financial analysis has been carried out considering the
same.
5 . 4
Financial feasibility has been assessed through feasibility indicators

and ratios like DSCR, Project IRR, Equity IRR, Payback Period and
ROCE.
Financial feasibility indicators and ratios for the base case assumptions
considered for evaluation are tabulated as below:
Table 8.10: Project Financial Feasibility Indicators

Equity IRR 14.05% -
DSCR 1.00 Times
The projected financial statements for the base case are attached
herewith under Annexure H.
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9. Sensitivity Analysis
Sensitivity analysis has been carried out to understand the effect of

changes in major input variables on important financial indicators. The
consultant has carried out sensitivity analysis for various cases with
respect to availability of Viability Gap Funding and utilization of storage
facilities after guarantee period of 10 years.
Both the above cases are explained in details in the subsequent

sections of the chapter.
6 7
Capital expenditure means total project cost required to be invested for

development of the project. Impact on financial indicators due to
changes in capex is tabulated as:
Table 9.1: Change in Capex

Change in
Capex 0% 5% 10% -5% -10%
Total Project Cost 3063.52 3211.58 3359.65 2915.45 2767.39
Project IRR 12.14% 11.61% 11.16% 12.66% 13.25%
Equity IRR 14.05% 13.24% 12.57% 14.88% 15.82%
DSCR 1.00 0.94 0.89 1.06 1.12
Source: MM Analysis
The change in capex is inversely related with the financial indicators of

the project. Financial indicators at various levels of project can be seen
in the above table.
6 '
The main streams of revenues from the project are Commission on

handling of grains from Central Govt., Fixed and variable charges
collected from the users of the facilities and Receipt & Dispatch charges
collected at actual. Sensitivity analysis due to changes in revenues and
major financial indicators are tabulated as:
Table 9.2: Change in Revenues
Change in Revenues 0% 5% 10% -5% -10%

Receipt and Dispatch Charges 9.12 9.58 10.03 8.66 8.21
Commission Charges - Grain handled 1.00% 1.05% 1.10% 0.95% 0.90%
Storage Charges - Variable 0.50 0.53 0.55 0.48 0.45
Storage Charges - Fixed 5.75 6.04 6.33 5.46 5.18
Project IRR 12.14% 13.65% 15.14% 10.58% 9.00%
Equity IRR 14.05% 16.51% 19.15% 11.71% 9.50%
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DSCR 1.00 1.17 1.35 0.82 0.65
Source: MM Analysis
Changes in revenues and financial indicators are positively related to

each other.
Since the revenue from commission charge is one of the critical

components of revenue, the consultant has also carried out sensitivity
analysis with respect to availability of handling of grains for central pool
facilities. The same has been tabulated as:
Table 9.3: Applicability of Commission Charge

Commission Charge 1% 0%
Project IRR 12.14% 9.59%
Equity IRR 14.05% 10.31%
DSCR 1.00 0.72
Source: MM Analysis
As depicted in above table, it can be seen that the revenue from

commission charge from GoI for handling of grains under central pool
system plays an important role in the financial viability of the project.
However, in line with the discussions with MPWLC for base case
financial feasibility analysis, the consultant has considered that the
proposed facilities shall be utilised under central pool system.
6! 7
The expenses required for daily operations of the project facilities are
called operating expenses. Any change in operating expenses affects
financial indicators inversely i.e. any increase in operating expenses
would affect financial indicators negatively and vice versa. The effect of
changes in Opex on financial indicators of the project is tabulated as
follows:
Table 9.4: Change in Opex

Change in Opex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.79% 11.45% 12.44% 12.78%
Equity IRR 14.05% 13.51% 12.99% 14.54% 15.10%
DSCR 1.00 0.96 0.92 1.04 1.08
Source: MM Analysis
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It can be observed from the table that the operating expenses play an
important role for evaluation of the feasibility of the project. Hence it is
very important for the developer to control and monitor daily expenses
incurred during the period of operations.
6# 8$4
The consultant has carried out financial analysis and worked out
financial indicators at various levels of VGF availability and the same
are tabulated as:
Table 9.5: Availability of VGF vs Financial Indicators

Base Case -
Availability of VGF 0% 10% 20% 25% 30% 35% 40%
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis
The improvement in project financial indicators is observed, in case

VGF is introduced to finance the development cost of the project.
In case the proposed facilities are not utilized under central pool
system, the financial condition under various levels of VGF would be as
below:
Table 9.6: Availability of VGF & No commission charge vs Financial Indicators
Base
(INR lakhs) 3061.86 2755.68 2449.49 2296.40 2143.30 1990.21 1837.12
Project IRR 9.59% 10.53% 11.63% 12.27% 12.98% 13.78% 14.70%
Equity IRR 10.31% 11.65% 13.32% 14.34% 15.53% 16.97% 18.73%
DSCR 0.72 0.80 0.90 0.96 1.03 1.10 1.19
Source: MM Analysis
The above table represents financial viability of the project in case the
proposed facilities are not utilised under central pool system and hence
no commission charge is paid to the developer.
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Apart from above, utilization of facilities after 10 years of guarantee

period cannot be ignored and hence the sensitivity analysis for equity
IRR at various levels of utilization of facilities and availability of VGF
has been carried out. The same has been explained below.
6. - 9 4 : 8$4 3;'
To know the impact of utilization of developed facilities which are

considered to be 100% after 10 years of guaranteed period for the base
case, sensitivity analysis at various combinations of utilization of
facilities and availability of VGF on Equity IRR has been carried out.
Various correlations are tabulated hereunder:
Table 9.7: Utilization of Facilities & Availability of VGF vs. Equity IRR
0% 10% 20% 25% 30% 35% 40%

100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
after 10 years
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
Source: MM Analysis
It can be observed from the above table that with decrease in utilization
of silo facilities, Equity IRR substantially falls down from the base case
of 100% utilization. On the other hand, availability of VGF against
reduction in utilization improves the results.
' : %% :
It can be observed from the sensitivity analysis that the project IRR for
the base case assumptions is greater than WACC of the project and
Equity IRR is also above 12% i.e. minimum expected rate of return on
equity. Apart from that, the DSCR for the project is 1.00. Hence, to
achieve the desired DSCR between 1.20 to 1.30 times, at least 20% of
VGF is required, assuming 100% of the silo facilities shall be utilised
under central pool system and commission charges shall be paid by the
GoI.
On the other hand, if the silo facilities are not utilised under central pool
system wherein revenues from commission charges shall not be
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available, then at least 40% of VGF is required to achieve the DSCR of

1.20 times.
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Appendix A. Land Documents
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Appendix B. Production
District wise details of Production (in '000 MT)

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
1 Jabalpur 154.6 156.3 184.0 N.A. 126.6 171.5 158.6 280.5 284.9
2 Katni 86.6 75.4 70.9 N.A. 39.6 74.3 70.8 59.0 96.7
3 Balaghat 17.4 7.9 22.1 N.A. 13.2 12.3 19.5 22.9 29.8
4 Chhindwara 170.2 145.6 144.1 N.A. 223.4 175.2 425.2 388.9 748.4
5 Seoni 93.1 77.7 88.8 N.A. 93.4 90.1 90.5 102.1 127.5
6 Mandla 26.8 26.6 28.5 N.A. 25.3 26.6 23.0 16.7 17.6
7 Dindori 21.9 24.0 18.4 N.A. 14.9 19.4 19.1 16.0 33.7
8 Narsinghpur 181.7 168.9 172.6 N.A. 157.5 189.7 169.4 226.9 253.2
9 Sagar 183.7 173.1 176.4 N.A. 131.8 188.2 244.5 186.5 295.1
10 Damoh 96.6 97.8 102.1 N.A. 99.8 131.8 136.3 171.4 197.0
11 Panna 78.9 76.7 74.9 N.A. 53.2 88.3 97.1 89.1 103.7
12 Tikamgarh 250.3 174.8 79.0 N.A. 28.0 209.2 168.3 99.0 241.5
13 Chhatarpur 249.6 243.7 180.5 N.A. 60.1 195.8 203.9 169.1 199.5
14 Rewa 204.4 181.1 170.8 N.A. 99.3 165.3 158.0 111.3 215.4
15 Sidhi 76.6 67.2 64.1 N.A. 54.7 47.0 45.4 38.1 67.4
16 Singroli 0.0 0.0 0.0 N.A. 0.0 28.9 35.0 35.1 60.9
17 Satna 197.7 173.9 184.3 N.A. 88.5 147.8 173.1 119.1 202.2
18 Shahdol 16.6 16.4 17.2 N.A. 18.0 20.7 16.9 17.1 33.3
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
19 Anuppur 10.2 9.0 10.2 N.A. 8.2 9.1 8.8 7.0 17.4
20 Umaria 23.1 20.8 21.9 N.A. 18.6 22.7 20.5 19.9 28.6
21 Indore 287.2 304.9 88.7 N.A. 244.3 134.4 220.1 271.3 252.7
22 Dhar 350.7 341.4 138.1 N.A. 500.0 298.8 354.9 453.5 379.5
23 Jhabua 53.7 56.6 49.0 N.A. 77.3 33.6 44.6 51.6 63.5
24 Khargone 149.2 126.9 57.9 N.A. 181.8 98.5 224.9 276.6 340.0
25 Barwani 61.2 50.0 18.0 N.A. 51.9 62.1 49.1 83.1 114.9
26 Khandwa 88.1 73.5 88.8 N.A. 107.9 115.6 120.1 154.8 211.1
27 Burhanpur 17.5 16.7 16.5 N.A. 19.9 20.2 19.4 24.8 31.7
28 Alirajpur 0.0 0.0 0.0 N.A. 0.0 25.3 24.8 28.6 32.9
29 Ujjain 223.4 345.6 114.1 N.A. 341.1 184.3 318.6 237.8 375.0
30 Mandsaur 57.5 134.4 51.1 N.A. 131.2 126.6 156.9 122.7 229.3
31 Neemuch 49.0 74.4 63.2 N.A. 59.0 74.9 61.8 92.1 101.5
32 Ratlam 182.4 203.8 138.0 N.A. 228.9 196.4 218.3 276.8 309.4
33 Dewas 218.8 225.4 89.1 N.A. 215.0 211.0 247.9 247.5 375.0
34 Shajapur 148.3 180.2 68.2 N.A. 164.9 134.8 221.4 182.1 297.7
35 Morena 210.4 207.3 220.7 N.A. 159.8 184.8 179.8 221.8 222.7
36 Sheopur Kalan 109.4 78.7 90.9 N.A. 93.4 94.3 144.0 173.5 191.2
37 Bhind 151.0 133.3 142.2 N.A. 102.5 177.9 214.2 185.2 163.3
38 Gwalior 274.3 236.3 244.9 N.A. 111.4 229.1 189.9 254.0 346.8
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
39 Shivpuri 262.4 216.5 225.5 N.A. 110.1 224.0 250.4 298.1 247.8
40 Guna 106.0 103.2 124.9 N.A. 119.4 143.4 127.4 187.9 243.1
41 Ashoknagar 123.8 120.4 138.8 N.A. 119.9 148.0 173.0 193.0 233.2
42 Datia 180.9 139.1 148.5 N.A. 151.8 229.4 290.8 260.2 346.1
43 Bhopal 108.2 135.4 115.2 N.A. 120.1 126.7 147.1 127.5 304.2
44 Sehore 346.8 364.9 233.4 N.A. 189.0 226.9 401.1 327.2 666.8
45 Raisen 277.1 279.3 311.9 N.A. 203.9 266.9 376.5 278.4 622.0
46 Vidisha 332.9 335.2 310.8 N.A. 202.4 259.6 370.4 341.6 402.1
47 Rajgarh 102.7 102.6 45.9 N.A. 103.7 85.8 145.3 140.4 282.2
48 Hoshangabad 439.3 449.7 429.0 N.A. 698.6 607.4 700.1 854.0 1135.4
49 Harda 179.8 238.6 231.1 N.A. 153.4 168.0 181.6 560.7 639.9
50 Betul 125.2 128.8 145.1 N.A. 412.6 369.6 407.0 137.3 281.0
Non Reported 7.4 7.4 7.4 N.A. 7.4 7.4 7.4 7.4 7.4
State 7364.6 7327.4 5957.7 N.A. 6736.7 7279.6 8872.7 9227.2 12703.2
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Appendix C. Mandi Arrivals
District wise details of Mandi Arrivals (in MT)

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Betul 11705 33047 17573 24948 25727 60251 29725 91862 69513 82268
2 Bhopal 23330 52900 48271 88307 86209 51215 53075 140663 178733 261643
3 Harda 132375 204832 114803 216925 260224 353681 255571 312373 453863 464200
4 Hoshangabad 344708 385572 302337 406767 479281 673887 509486 611476 847351 998493
5 Raisen 84321 177899 152421 87284 100889 135917 109270 260513 375758 512195
6 Rajgarh 37711 89686 78828 40666 130838 90279 59194 153371 208688 283189
7 Sehore 123628 222887 143336 121465 207610 215006 135712 296672 436969 506010
8 Vidisha 122584 167179 150908 119927 155679 125710 116095 240269 339373 423289
9 Alirajpur 12442 14057 12297 13577 20107 14294 18725 9694 10760 7135
10 Badwani 9086 11844 17750 20196 38373 29988 14448 17987 31118 41086
11 Burhanpur 1855 6501 2583 2817 7682 21271 9732 6329 12024 11188
12 Dhar 104407 219042 196744 153720 325773 278790 162089 199203 286591 298197
13 Indore 112082 208151 128666 44632 251835 215229 112581 170223 294535 269210
14 Jhabua 41476 48576 50107 48308 39728 56452 43338 42259 40450 43882
15 Khandwa 34820 30607 35613 50319 129600 86217 79436 90299 133707 156492
16 Khargone 35866 46224 47050 36621 83425 155965 70716 120286 174343 196079
17 Dewas 53984 153601 115988 80333 189630 214748 141619 165153 341695 334456
18 Mandsour 6786 8886 44342 17803 109211 85025 55050 123018 86674 159112
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Neemuch 27268 19787 49228 86585 145758 161547 52124 80706 124328 125768
20 Ratlam 15372 42243 54049 32494 130094 151022 44831 86886 107144 164427
21 Shajapur 55421 108925 100211 87388 167407 124488 47914 138299 156052 239204
22 Ujjain 31422 118074 98759 45592 263189 300612 66342 180354 267268 400991
23 Ashoknagar 42132 71283 52754 36039 55296 49887 75525 96073 157955 152912
24 Bhind 34845 29881 10414 27080 43932 54215 73065 60686 99864 118580
25 Datia 68588 60124 25017 35504 87779 87198 126988 150860 223675 180537
26 Guna 30946 33730 47906 51985 92878 73050 97148 116420 192514 183988
27 Gwalior 59913 103706 43118 65472 83866 96615 150230 158083 198436 160763
28 Morena 63170 58806 16922 58213 68537 73410 77496 102659 146344 154475
29 Sheopur 37378 35309 34709 54477 74462 101207 71538 85716 159288 223454
30 Shivpuri 56264 81244 56203 59209 78491 49325 149263 152919 201982 280208
31 Chhatarpur 41664 105645 107418 53470 30836 7070 177835 145627 165158 281249
32 Damoh 29471 55343 58940 67725 69246 47998 60202 97265 99459 126435
33 Panna 12497 9676 7582 5566 3882 3213 11666 16551 20589 62809
34 Sagar 93376 152353 180426 128469 128008 56100 140563 214801 287510 321752
35 Tikamgarh 89289 157514 101735 59118 50941 21156 237595 213731 244239 437649
36 Balaghat 7556 19305 6405 15909 14245 14472 6346 6275 3798 7381
37 Chhindwara 26599 38173 57271 63252 62730 78111 43700 133300 135756 126418
38 Dindori 4274 11310 10108 6972 9019 8036 9425 12283 12497 12867
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Jabalpur 73976 82071 80481 90649 119138 154398 186683 207845 291626 343276
40 Katni 49833 66539 48528 68326 59973 86510 75646 77825 88290 82344
41 Mandla 8045 11052 12832 9963 16548 19530 27957 33109 33792 45530
42 Narsingpur 42732 42512 29574 40532 38570 50178 60860 82020 111196 0
43 Seoni 33773 48691 34368 55429 67705 101939 63788 140766 170468 216564
44 Anuppur 208 383 476 393 393 492 801 783 842 2621
45 Rewa 35042 31824 41844 45459 53464 39244 74142 61620 48792 105800
46 Satna 63187 87050 47976 57982 52795 77105 109618 105022 112828 208733
47 Shahdol 10750 14849 19580 17056 18877 16674 9252 14546 12165 14500
48 Sidhi 8357 16862 33136 28885 27247 11515 32221 56377 15628 34199
49 Singrauli 0 0 0 0 0 0 0 0 2118 0
50 Umaria 9590 12971 7979 7472 12116 9369 18467 17105 20350 19781
State 2456104 3808726 3135566 3037280 4769243 4989611 4355093 6098162 8234096 9883339
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Appendix D. Procurement
District wise details of Procurement (in MT)

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Bhopal 0 10609 12147 0 3570 43514 27309 92288 117085 241604
2 Sehore 6784 16051 27029 0 1201 105958 67656 194513 233992 415721
3 Raisen 39465 63704 86632 0 8061 86630 126478 210127 326778 511572
4 Biora 0 759 2806 0 56
5 Vidisha 238 2136 7319 0 144 23069 18627 78738 135170 325127
6 Betul 22 67 86 0 24 34715 20099 64831 61269 98933
7 H'bad 53874 72520 118770 0 13768 412263 405542 545052 731102 950528
8 Harda 11330 24530 70266 0 8134 238665 241879 314298 467133 539855
9 Indore 0 521 7108 0 184 87351 8015 72003 128350 217551
10 Jhabua 0 0 143 0 0 26815 1777 9367 13474 26130
11 Dhar 0 0 3387 0 1857 75700 22698 90671 168561 230253
12 Khargone 0 0 514 0 0 68794 12026 78161 113088 169401
13 Badwani 0 0 10 0 0 16473 3894 10147 25133 40742
14 Khandwa 12 0 99 0 0 26669 21257 57594 104552 178217
15 Burhanpur 0 0 4 0 0 18202 7397 4000 7644 7627
16 Ujjain 0 688 34349 0 2730 206768 5307 119511 179529 361380
17 Dewas 0 2768 8191 0 500 81172 21821 109036 166466 280488
18 Ratlam 0 0 4975 0 1831 83027 5005 29095 43034 107223
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Mandsour 0 0 934 0 480 28808 4854 33626 32973 90745
20 Neemuch 0 0 551 0 781 26092 5086 5052 18979 42972
21 Shajapur 0 7395 14243 0 71 57561 6886 105037 124028 248057
22 Sagar 3530 8569 4860 0 5 19469 53347 94877 110468 235440
23 Damoh 2029 2513 3063 0 34 21697 39649 60080 65530 133253
24 Panna 1005 1509 1781 0 0 828 7268 12416 19206 58346
25 Chhatarpur 17567 29499 10821 0 0 1778 53541 73003 83528 179432
26 Tikamgarh 12743 32597 12214 0 0 5441 93770 66945 65510 164710
27 Jabalpur 2583 1055 557 0 0 61942 86825 74788 139750 266974
28 Chhindwara 0 50 0 0 82 26828 13963 71721 85161 139291
29 Balaghat 0 0 0 0 0 3158 2503 1989 2740 3766
30 Mandla 337 362 244 0 73 9929 11006 16952 21467 36394
31 Dindori 0 0 0 0 0 42 275 650 1110 3685
32 Seoni 120 1734 2046 0 36 58649 30021 79410 109087 195877
33 Narsingpur 4496 6805 3503 0 168 36001 42912 68803 112711 156303
34 Katni 1952 1950 1174 0 2 18231 16098 28003 44258 95532
35 Rewa 720 831 363 0 68 11366 23585 21877 25596 98206
36 Sidhi 5301 5728 1195 0 2 9207 7680 7181 8223 20629
37 Satna 24595 1186 1025 0 0 17586 45944 44592 43189 126429
38 Shahdole 1485 2461 1444 0 0 4024 7932 8830 11088 18013
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Anoop Pur 0 0 9 0 0 36 199 205 318 1919
40 Umaria 2014 2647 2064 0 315 3132 6940 7353 8601 20157
41 Gwalior 1788 8646 7294 0 9 66380 64817 61344 103458 171078
42 Datia 5089 8140 5645 0 828 42277 36977 68372 79521 160628
43 Shivpuri 534 10297 3496 0 454 18171 55104 78005 86772 194162
44 Guna 0 2219 7835 0 4108 27961 52587 54593 83523 159213
45 Ashoknagar 0 0 1416 0 0 13190 24419 36519 56453 116359
46 Bhind 387 1037 174 0 8 28268 24001 32273 48106 81454
47 Murena 0 464 0 0 0 41981 47493 74553 86117 133784
48 Sheopurkala 19 16668 12119 0 7895 88924 58910 87248 147196 214234
49 Alirajpur 0 808 1079 3383 3428
50 Rajgarh 25130 17707 70392 103021 217432
51 Singroli 0 7251 10349 11528 17442
Grand Total 7817 47471 37979 0 13302 352282 390074 574727 809078 1469214
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Appendix E. Storage Facility
District wise Storage Facility as on September 2012 (in MT)

Co-
Mandi operative
Sr. No. District WLC FCI CWC Markfed Olifed Private Board Society Total
1 Bhopal 5300 25000 45740 27000 0 41537 1700 8310 154587
2 Hoshangabad 130421 80000 0 11000 48000 657747 11500 12260 950928
3 Harda 65570 0 0 3000 0 188620 4200 3900 265290
4 Sehore 27000 0 0 9600 48490 130594 6400 14360 236444
5 Rajgarh 17000 0 0 15000 0 130868 6000 1485 170353
6 Betul 13000 10000 0 7000 0 64072 3000 12790 109862
7 Raisen 43537 0 0 17500 0 179498 5000 9950 255485
8 Vidisha 44150 10000 0 18000 0 278189 4500 16050 370889
9 Bhind 17200 0 26000 11900 0 37880 2200 15450 110630
10 Datia 27600 7500 0 7000 0 31057 500 5355 79012
11 Guna 51440 0 0 14000 0 82247 7600 9300 164587
12 Ashoknagar 26000 11920 0 6000 0 75307 3000 0 122227
13 Gwalior 37300 12500 19750 14050 0 214406 3400 7990 309396
14 Murena 15400 0 64250 11000 30200 207824 6400 8200 343274
15 Sheopur 9200 11280 31000 5300 0 49516 4900 0 111196
16 Shivpuri 32800 0 0 8100 0 118366 3100 6450 168816
17 Balaghat 18600 44290 10000 20950 0 4798 3300 9710 111648
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Co-
Mandi operative
18 Chindwara 28250 0 0 11800 27052 62493 4900 19530 154025
19 Jabalpur 42350 10640 0 6875 0 196597 9100 15500 281062
20 Katni 5400 8640 25100 10000 0 93349 2000 0 144489
21 Narsinghpur 18666 0 19150 10700 0 85548 7100 20200 161364
22 Seoni 19000 8340 0 10000 0 77989 2800 7350 125479
23 Mandla 9180 0 0 17625 0 9936 2200 8090 47031
24 Dindori 4530 0 0 2000 0 0 0 0 6530
25 Dhar 31900 0 5000 12775 0 96858 13700 13070 173303
26 Indore 14310 0 77750 24000 0 283865 8500 10900 419325
27 Khandwa 3125 0 97367 17150 0 111510 7950 26115 263217
28 Barwani 10977 0 0 1000 0 15500 0 27477
29 Jhabua 20600 5000 0 3000 0 17653 5100 15030 66383
30 Alirajpur 6800 0 0 0 0 0 0 0 6800
31 Khargone 22450 0 0 8000 10944 51321 20700 33630 147045
32 Dewas 75050 0 0 13850 0 147083 8200 10620 254803
33 Burhanpur 0 0 27200 5000 0 1855 7350 0 41405
34 Ujjain 48916 15000 0 12000 38400 233371 10500 23845 382032
35 Mandsour 41400 0 0 8650 0 83132 3200 19370 155752
36 Neemuch 21846 0 0 7000 0 143270 2100 0 174216
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Co-
Mandi operative
37 Ratlam 43400 8980 0 19500 0 160431 22400 15300 270011
38 Rajapur 38385 0 8000 12000 0 186987 5500 15420 266292
39 Chhatarpur 28400 10000 0 10400 0 144646 2400 12850 208696
40 Panna 5000 0 0 6000 0 31333 200 4325 46858
41 Tikamgarh 22800 33140 0 15400 0 50927 2400 11200 135867
42 Sagar 47000 3780 0 18900 0 167730 10500 0 247910
43 Damoh 13600 0 0 12000 0 227594 1500 10200 264894
44 Anuppur 4000 0 0 0 0 0 500 4500
45 Satna 36986 6920 0 18280 0 22389 4500 12040 101115
46 Shahdol 12000 5640 0 21375 0 0 2000 0 41015
47 Singroli 2000 0 0 0 0 0 0 0 2000
48 Sidhi 7800 0 0 8575 4000 0 0 14830 35205
49 Rewa 14400 0 0 9575 0 12696 700 7950 45321
50 Umaria 2800 0 0 3000 0 0 0 0 5800
State 1284839 328570 456307 542830 207086 5193089 260200 468925 8741846
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Appendix G. Typical Layout Plan for setting

up of Silo Facilities
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Typical Layout Plan for setting up of Silo
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Confidential
Appendix H. Projected Financial Statements –

Base Case
Following is the list of projected financial statements:
1. Estimation of Project Cost & Means of Finance
2. Projected Profitability Statement
3. Projected Balance Sheet
4. Depreciation Calculations
5. Working Capital Computation
6. Term Loan Calculations
7. Tax Computation
8. Projected Cash Flow Statement
9. Financial Ratios & Indicators – Base Case
320162/MCB/ISA/AA/01 27 May 2013

Estimation of Project Cost & Means of Finance
Project Cost Components Rs. Lakhs Proportion

Land & Land Development 0.70 0.02%
Buildings and Civil Works 1445.63 47.19%
Plant & Machineries 966.95 31.56%
Utilities and Other MFA 287.50 9.38%
P & P Exp. 218.77 7.14%
Contingencies 135.04 4.41%
Total Block Cost 3054.58 99.71%
Margin Money 8.93 0.29%
Total Project Cost 3063.52 100.00%
VGF 0.00
Debt - IIFCL Funding 612.70
Total PC less VGF & IIFCL Funding 2450.81
Means of Finance % % age INR Lakhs

VGF as % of Total Capital Cost 0% 0.00
Debt - IIFCL Funding as % of Total Capital Cost 20% 612.70
Equity as % of TPC less VGF & IIFCL Funding 37.50% 919.06
Debt as % of TPC less VGF & IIFCL Funding 62.50% 1531.76
Total 3063.52
Financial Feasibility Study for setting up Silo in Madhya Pradesh

Standalone Silo Feasibility
Projected Profitability Statement Rs. Lakhs
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Revenues
Receipt & Dispatch Charge 48.29 51.15 54.17 57.37 60.76 64.35 68.15 72.18 76.44 80.95 85.74 90.80 96.17 101.85 107.87 114.24 120.99 128.13 135.70 143.72 152.21 161.20 170.73 180.81 191.50 202.81 214.79 227.48 240.92 255.15
Commission Charges 79.43 84.12 89.09 94.36 99.93 105.83 112.09 118.71 125.72 133.15 141.02 149.35 158.17 167.51 177.41 187.89 198.99 210.75 223.20 236.38 250.35 265.14 280.80 297.39 314.96 333.57 353.27 374.15 396.25 419.66
Storage Charge
Variable Charge 35.64 37.74 39.97 42.33 44.83 47.48 50.29 53.26 56.41 59.74 63.27 67.01 70.96 75.16 79.60 84.30 89.28 94.55 100.14 106.06 112.32 118.96 125.98 133.43 141.31 149.66 158.50 167.86 177.78 188.28
Fixed Storage Charges 405.73 429.70 455.09 481.97 510.45 540.60 572.54 606.36 642.19 680.12 720.30 762.86 807.93 855.66 906.21 959.74 1016.44 1076.49 1140.09 1207.44 1278.78 1354.32 1434.33 1519.07 1608.81 1703.86 1804.52 1911.12 2024.03 2143.60
Total Revenues 569.09 602.71 638.32 676.03 715.97 758.27 803.06 850.51 900.75 953.97 1010.33 1070.01 1133.23 1200.18 1271.08 1346.17 1425.70 1509.93 1599.13 1693.60 1793.66 1899.62 2011.85 2130.70 2256.58 2389.89 2531.08 2680.61 2838.98 3006.70
Expenditure
Power Cost 72.00 74.16 76.38 78.68 81.04 83.47 85.97 88.55 91.21 93.94 96.76 99.66 102.65 105.73 108.91 112.17 115.54 119.01 122.58 126.25 130.04 133.94 137.96 142.10 146.36 150.75 155.27 159.93 164.73 169.67
Utility & Fuel Cost 28.78 29.65 30.54 31.45 32.40 33.37 34.37 35.40 36.46 37.56 38.68 39.84 41.04 42.27 43.54 44.84 46.19 47.57 49.00 50.47 51.99 53.55 55.15 56.81 58.51 60.27 62.07 63.94 65.85 67.83
Permanent Manpower cost 45.36 48.08 50.97 54.02 57.27 60.70 64.34 68.20 72.30 76.63 81.23 86.11 91.27 96.75 102.55 108.71 115.23 122.14 129.47 137.24 145.48 154.20 163.46 173.26 183.66 194.68 206.36 218.74 231.87 245.78
Administrative Exp. 5.69 6.03 6.38 6.76 7.16 7.58 8.03 8.51 9.01 9.54 10.10 10.70 11.33 12.00 12.71 13.46 14.26 15.10 15.99 16.94 17.94 19.00 20.12 21.31 22.57 23.90 25.31 26.81 28.39 30.07
Receipt & Dispatch Expense 48.29 51.15 54.17 57.37 60.76 64.35 68.15 72.18 76.44 80.95 85.74 90.80 96.17 101.85 107.87 114.24 120.99 128.13 135.70 143.72 152.21 161.20 170.73 180.81 191.50 202.81 214.79 227.48 240.92 255.15
Fumigation Cost 16.20 17.01 17.86 18.75 19.69 20.68 21.71 22.80 23.93 25.13 26.39 27.71 29.09 30.55 32.07 33.68 35.36 37.13 38.99 40.94 42.98 45.13 47.39 49.76 52.25 54.86 57.60 60.48 63.51 66.68
Repairs & Maintenance 30.55 30.55 30.55 30.55 30.55 76.36 76.36 76.36 76.36 76.36 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18 122.18
Insurance Cost of Grains 22.50 23.63 24.81 26.05 27.35 28.72 30.15 31.66 33.24 34.90 36.65 38.48 40.41 42.43 44.55 46.78 49.11 51.57 54.15 56.86 59.70 62.68 65.82 69.11 72.56 76.19 80.00 84.00 88.20 92.61
Insurance Cost of Facilities 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16
Total Expenditure 278.54 289.41 300.82 312.79 325.37 384.39 398.25 412.82 428.12 444.19 506.90 524.65 543.31 562.92 583.54 605.23 628.03 652.01 677.23 703.76 731.68 761.06 791.97 824.50 858.75 894.80 932.76 972.73 1014.82 1059.14
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Depreciation 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
EBIT 165.12 187.87 212.07 237.80 265.16 248.44 279.37 312.25 347.19 384.33 377.98 419.92 464.48 511.81 562.09 615.51 672.23 732.48 796.46 864.40 936.54 1013.13 1094.44 1180.76 1272.39 1369.65 1472.88 1582.45 1698.72 1822.12
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Tax 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99

Depreciation Calculations Rs. Lakhs
FA Allocation of P&P and Contingencies Rs. Lakhs

% of Basic Allocable Block with
Particulars Rs. Lakhs Block PP+Cont. Allocations
Land & Site Development 0.70 0% 0.09 0.79
Buildings and Civil Works 1445.63 54% 189.38 1635.01
Plant and Machineries 966.95 36% 126.67 1093.62
Utilities and Other Misc. FA 287.50 11% 37.66 325.16
Total Basic FA Block 2700.78
P & P Exp. 218.77
Contingencies 135.04
Total Block Cost 3054.58 3054.58
SLM Depreciation Block Value 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

Land & Site Development 0.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Buildings and Civil Works 1635.01 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50 54.50
Plant and Machineries 1093.62 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68 54.68
Utilities and Other Misc. FA 325.16 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26 16.26
Total Dep 3054.58 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
WDV of Gross Block Gross Block 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

Total WDV 3054.58 2678.27 2350.22 2064.02 1814.13 1595.77 1404.80 1237.64 1091.21 962.84 850.21 751.30 664.38 587.93 520.64 461.36 409.11 363.01 322.31 286.35 254.56 226.44 201.53 179.47 159.92 142.57 127.17 113.50 101.34 90.54 80.93
WDV Depreciation 376.32 328.05 286.20 249.89 218.36 190.97 167.16 146.43 128.37 112.64 98.91 86.92 76.45 67.29 59.27 52.25 46.10 40.70 35.96 31.79 28.13 24.90 22.06 19.56 17.35 15.40 13.67 12.15 10.80 9.61

Working Capital Computation Rs. Lakhs
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Current Assets
Debtors 47.42 50.23 53.19 56.34 59.66 63.19 66.92 70.88 75.06 79.50 84.19 89.17 94.44 100.01 105.92 112.18 118.81 125.83 133.26 141.13 149.47 158.30 167.65 177.56 188.05 199.16 210.92 223.38 236.58 250.56
Current Liabilities
Stores and Spares 11.69 11.89 12.10 12.32 12.56 24.26 24.52 24.79 25.07 25.37 37.14 37.47 37.82 38.18 38.56 38.97 39.39 39.83 40.29 40.78 41.29 41.83 42.39 42.99 43.61 44.26 44.95 45.67 46.42 47.22
Net Working Capital 35.74 38.34 41.09 44.01 47.10 38.93 42.40 46.09 49.99 54.12 47.05 51.70 56.62 61.83 67.36 73.22 79.42 86.00 92.97 100.35 108.18 116.47 125.26 134.57 144.44 154.90 165.98 177.72 190.16 203.34
Margin Money 8.93 9.58 10.27 11.00 11.78 9.73 10.60 11.52 12.50 13.53 11.76 12.92 14.15 15.46 16.84 18.30 19.86 21.50 23.24 25.09 27.04 29.12 31.32 33.64 36.11 38.72 41.49 44.43 47.54 50.84
Bank Finance 26.80 28.75 30.82 33.01 35.33 29.20 31.80 34.56 37.49 40.59 35.29 38.77 42.46 46.37 50.52 54.91 59.57 64.50 69.73 75.27 81.13 87.35 93.95 100.93 108.33 116.17 124.48 133.29 142.62 152.51
Interest on Bank Finance 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30

Total Term Loan Schedule
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 2144.46 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 62.04 62.04 55.14 48.25 41.36 34.46 27.57 20.68 13.79 6.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 62.04 60.31 53.42 46.53 39.63 32.74 25.85 18.96 12.06 5.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 62.04 58.59 51.70 44.80 37.91 31.02 24.13 17.23 10.34 3.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 62.04 56.87 49.97 43.08 36.19 29.29 22.40 15.51 8.62 1.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Term Loan - I Rs. Lakhs
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 1531.76 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 45.95 45.95 40.85 35.74 30.64 25.53 20.42 15.32 10.21 5.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 45.95 44.68 39.57 34.46 29.36 24.25 19.15 14.04 8.94 3.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 45.95 43.40 38.29 33.19 28.08 22.98 17.87 12.76 7.66 2.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 45.95 42.12 37.02 31.91 26.81 21.70 16.59 11.49 6.38 1.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 183.81 176.15 155.73 135.31 114.88 94.46 74.04 53.61 33.19 12.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Term Loan - II (IIFCL) Rs. Lakhs
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 612.70 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 16.08 16.08 14.30 12.51 10.72 8.94 7.15 5.36 3.57 1.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 16.08 15.64 13.85 12.06 10.28 8.49 6.70 4.91 3.13 1.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 16.08 15.19 13.40 11.62 9.83 8.04 6.25 4.47 2.68 0.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 16.08 14.74 12.96 11.17 9.38 7.59 5.81 4.02 2.23 0.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 64.33 61.65 54.51 47.36 40.21 33.06 25.91 18.76 11.62 4.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Tax Computation Rs. Lakhs
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Add: SLM Dep 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
Less: WDV Dep 376.32 328.05 286.20 249.89 218.36 190.97 167.16 146.43 128.37 112.64 98.91 86.92 76.45 67.29 59.27 52.25 46.10 40.70 35.96 31.79 28.13 24.90 22.06 19.56 17.35 15.40 13.67 12.15 10.80 9.61
Income/Loss -337.12 -256.00 -162.62 -73.27 12.91 51.88 133.89 214.74 294.96 375.03 400.28 453.78 508.37 564.39 622.20 682.10 744.43 809.48 877.58 949.02 1024.11 1103.18 1186.54 1274.53 1367.48 1465.75 1569.71 1679.74 1796.24 1919.65
Unabsorbed Loss -3062.82 -3399.94 -3655.94 -3818.56 -3891.83 -3878.93 -3827.04 -3693.15 -3478.41 -3183.45 -2808.42 -2408.14 -1954.36 -1445.98 -881.59 -259.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Taxable Income/Loss -3399.94 -3655.94 -3818.56 -3891.83 -3878.93 -3827.04 -3693.15 -3478.41 -3183.45 -2808.42 -2408.14 -1954.36 -1445.98 -881.59 -259.39 422.71 744.43 809.48 877.58 949.02 1024.11 1103.18 1186.54 1274.53 1367.48 1465.75 1569.71 1679.74 1796.24 1919.65
MAT 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 121.83 133.07 145.00 157.68 171.14 185.43 200.61 216.72 233.82 251.98 271.25 291.70 313.41 336.45 360.90
Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Tax Applicable 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83

Projected Cash Flow Statement Rs. Lakhs
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cash Inflows
Equity Contribution 919.06
Term Loan From Banks 2144.46
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Working Capital Loan 26.80 1.95 2.07 2.19 2.32 -6.13 2.61 2.76 2.93 3.10 -5.30 3.48 3.69 3.91 4.15 4.39 4.65 4.93 5.23 5.54 5.87 6.22 6.59 6.98 7.40 7.84 8.31 8.81 9.33 9.89
Total Cash Inflow 3063.52 317.36 315.26 339.57 365.43 392.92 367.75 407.42 440.45 475.56 512.88 498.12 548.84 593.61 641.16 691.68 745.34 802.33 862.85 927.13 995.38 1067.85 1144.79 1226.47 1313.18 1405.23 1502.93 1606.63 1716.69 1833.49 1957.44
Cash Outflows
Capital Expenditure 3054.58
Repayment of Loan 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
Changes in Net CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Tax Paid 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Total Cash Outflow 3054.58 287.10 482.13 454.96 438.06 421.87 384.61 380.65 365.64 351.08 336.99 71.94 92.38 101.93 112.07 122.84 149.59 254.88 276.95 300.07 324.33 349.84 376.70 405.04 434.95 466.55 499.96 535.31 572.73 612.35 654.31
Net Cashflow 8.93 30.26 -166.87 -115.39 -72.63 -28.95 -16.87 26.77 74.81 124.48 175.89 426.18 456.46 491.68 529.09 568.84 595.74 547.45 585.90 627.06 671.05 718.01 768.08 821.43 878.24 938.68 1002.97 1071.32 1143.96 1221.15 1303.13
Opening Cash 0.00 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74
Closing Cash 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87

Projected Balance Sheet Rs. Lakhs
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Liabilities
Equity 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06
Reserves and Surplus -86.25 -139.63 -141.50 -100.56 -15.91 78.02 218.49 407.05 645.34 935.10 1234.07 1566.25 1933.72 2338.68 2783.46 3255.23 3678.79 4140.89 4644.26 5191.72 5786.25 6430.96 7129.16 7884.28 8699.99 9580.14 10528.79 11550.25 12649.07 13830.06
Long Term Loan 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Working Capital Loan 26.80 28.75 30.82 33.01 35.33 29.20 31.80 34.56 37.49 40.59 35.29 38.77 42.46 46.37 50.52 54.91 59.57 64.50 69.73 75.27 81.13 87.35 93.95 100.93 108.33 116.17 124.48 133.29 142.62 152.51
Total Liabiities 3004.08 2714.36 2476.29 2281.14 2129.85 1979.37 1884.17 1837.22 1840.16 1894.75 2188.41 2524.08 2895.24 3304.11 3753.03 4229.20 4657.41 5124.45 5633.04 6186.04 6786.44 7437.37 8142.16 8904.27 9727.38 10615.37 11572.33 12602.59 13710.74 14901.62
Assets
Gross Block 3054.58 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16
Less Depreciation 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
Net Block 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16 -708.60
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Current Assets 35.74 38.34 41.09 44.01 47.10 38.93 42.40 46.09 49.99 54.12 47.05 51.70 56.62 61.83 67.36 73.22 79.42 86.00 92.97 100.35 108.18 116.47 125.26 134.57 144.44 154.90 165.98 177.72 190.16 203.34
Cash & Bank 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87
Total Assets 3004.08 2714.36 2476.29 2281.14 2129.85 1979.37 1884.17 1837.22 1840.16 1894.75 2188.41 2524.08 2895.24 3304.11 3753.03 4229.20 4657.41 5124.45 5633.04 6186.04 6786.44 7437.37 8142.16 8904.27 9727.38 10615.37 11572.33 12602.59 13710.74 14901.62

Financial Ratios and Indicators Rs. Lakhs
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Total Project Outflow -3063.52
Equity Cash Outflow -919.06
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99
SLM Depreciation 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
Interest on LTL 167.63 160.65 142.02 123.40 104.77 86.15 67.52 48.89 30.27 11.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of LTL 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Change in CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Coverage 171.09 230.10 262.84 286.85 311.78 313.69 329.96 359.21 390.09 422.70 431.48 452.98 487.99 525.18 564.70 591.35 542.79 580.97 621.84 665.51 712.14 761.86 814.84 871.25 931.28 995.13 1063.01 1135.16 1211.82 1293.24
Debt Service 167.63 398.92 380.30 361.67 343.05 324.42 305.79 287.17 268.54 249.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSCR 1.02 0.58 0.69 0.79 0.91 0.97 1.08 1.25 1.45 1.69
Minimum DSCR 0.58
Average DSCR 1.00
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Net Project Cashflow -3063.52 171.09 230.10 262.84 286.85 311.78 313.69 329.96 359.21 390.09 422.70 431.48 452.98 487.99 525.18 564.70 591.35 542.79 580.97 621.84 665.51 712.14 761.86 814.84 871.25 931.28 995.13 1063.01 1135.16 1211.82 1293.24
Cumulative Cashflow -3063.52 -2892.43 -2662.33 -2399.49 -2112.63 -1800.85 -1487.17 -1157.21 -798.00 -407.91 14.80 446.28 899.25 1387.24 1912.42 2477.12 3068.47 3611.26 4192.23 4814.06 5479.58 6191.72 6953.58 7768.43 8639.68 9570.96 10566.09 11629.10 12764.26 13976.08 15269.32
Project IRR 12.14%
Discount Rate (WACC) 9.97%
Project NPV 750.11 Rs. Lakhs
Payback Period 9.96 years
Equity Cash Inflow 3.46 -168.82 -117.46 -74.82 -31.27 -10.73 24.16 72.05 121.55 172.79 431.48 452.98 487.99 525.18 564.70 591.35 542.79 580.97 621.84 665.51 712.14 761.86 814.84 871.25 931.28 995.13 1063.01 1135.16 1211.82 1293.24
Net Equity Cashflow -919.06 3.46 -168.82 -117.46 -74.82 -31.27 -10.73 24.16 72.05 121.55 172.79 431.48 452.98 487.99 525.18 564.70 591.35 542.79 580.97 621.84 665.51 712.14 761.86 814.84 871.25 931.28 995.13 1063.01 1135.16 1211.82 1293.24
Equity IRR 14.05%
EBIT (Net of WC Interest) 161.90 184.42 208.37 233.84 260.92 244.94 275.55 308.10 342.70 379.46 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Capital Employed 2977.27 2685.61 2445.47 2248.13 2094.52 1950.17 1852.37 1802.66 1802.67 1854.16 2153.13 2485.31 2852.77 3257.73 3702.52 4174.28 4597.84 5059.95 5563.31 6110.77 6705.30 7350.02 8048.21 8803.34 9619.05 10499.19 11447.85 12469.31 13568.12 14749.11
% Return on Capital Employed 5.44% 6.87% 8.52% 10.40% 12.46% 12.56% 14.88% 17.09% 19.01% 20.47% 17.36% 16.71% 16.10% 15.54% 15.02% 14.59% 14.47% 14.32% 14.17% 14.00% 13.82% 13.64% 13.46% 13.28% 13.09% 12.91% 12.74% 12.56% 12.39% 12.23%
Average ROCE 13.67%
Reasons to shoot up IRR

Silo in Raisen, Madhya
Pradesh
Feasibility Report
May 2013
Confidential
Silo in Raisen, Madhya
Pradesh
Report_Raisen.doc
22 May 2013
Feasibility Report
May 2013
Confidential
Setting up of Steel Grain Silo in Raisen, Madhya Pradesh
Confidential
A 24/04/2013 SP RS, MK SM Feasibility Report
B 27/05/2013 SP RS,MK SM Re-revised Feasibility Report based

Planning Commission
other parties

commissioned it.
Confidential
Content
1. Introduction 1
1.1 Report content _______________________________________________________________________ 1
2.1 Objectives of the policy_________________________________________________________________ 2
2.2 Incentives to the developers_____________________________________________________________ 2
2.3 Details of the Proposed Silo _____________________________________________________________ 3
2.3.1 Proposed Capacity of Silo ______________________________________________________________ 3
2.4 Roles and Responsibilities ______________________________________________________________ 3
2.4.1 Role of State Government ______________________________________________________________ 3
2.4.2 Role of Developer _____________________________________________________________________ 3
3.1 Conventional covered warehouse ________________________________________________________ 5
3.2 Covered Area Plinth – CAP _____________________________________________________________ 5
3.3 Silos – Concrete and Steel ______________________________________________________________ 6
3.3.1 Typical movement of grain in Silo ________________________________________________________ 7
3.3.2 Movement of grain in the proposed Silo facility at Raisen______________________________________ 9
3.3.2.1 Bulk Procurement at Silo Facility _________________________________________________________ 9
4.1 Location of the site ___________________________________________________________________ 10
4.2 Current Status, Documents / Agreements _________________________________________________ 10
4.3 Utility connectivity at proposed site ______________________________________________________ 10
4.4 Connectivity ________________________________________________________________________ 11

5.1 Wheat Supply Chain__________________________________________________________________ 13
5.2 Wheat Production ____________________________________________________________________ 14
5.2.1 State Level Scenario _________________________________________________________________ 14
5.2.1.1 Factors leading to the growth ___________________________________________________________ 16
5.2.2 District Level Scenario ________________________________________________________________ 20
5.3 Mandi Arrivals _______________________________________________________________________ 22
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5.4 Procurement ________________________________________________________________________ 25

5.5 Summary of Wheat Scenario ___________________________________________________________ 28
6.1 Present storage facilities ______________________________________________________________ 29
6.2 Storage Gap Assessment in Raisen District _______________________________________________ 32

7.1 Project Cost ________________________________________________________________________ 34
Source: MM Analysis & Assumptions _______________________________________________________________ 34
7.1.1 Land and Land Development Cost_______________________________________________________ 34
7.1.2 Building and Civil Works_______________________________________________________________ 34
7.1.3 Plant and Machinery__________________________________________________________________ 35
7.1.4 Electricals, Automation and Other Utilities_________________________________________________ 38
7.1.5 Preliminary and Pre operative cost ______________________________________________________ 39
7.1.6 Contingencies _______________________________________________________________________ 39
7.1.7 Margin Money for WC_________________________________________________________________ 39
7.2 Means of Finance ____________________________________________________________________ 40

8.1 Assumptions ________________________________________________________________________ 41
8.1.1 Base case Assumptions _______________________________________________________________ 41
8.1.2 Assumptions considered for operations ___________________________________________________ 41
8.1.2.1 Storage Capacity and Feed rate ________________________________________________________ 41
8.1.2.2 Operating Days______________________________________________________________________ 41
8.1.2.3 Escalation Rates_____________________________________________________________________ 41
8.1.3 Revenue Assumptions ________________________________________________________________ 42
8.1.4 Cost Assumptions____________________________________________________________________ 43
8.1.4.1 Power Cost _________________________________________________________________________ 44
8.1.4.2 Manpower Cost______________________________________________________________________ 44
8.1.4.3 Receipt & Dispatch Expenses __________________________________________________________ 45
8.1.4.4 Fumigation Cost _____________________________________________________________________ 45
8.1.4.5 Repair & Maintenance Cost ____________________________________________________________ 45
8.1.4.6 Insurance Cost ______________________________________________________________________ 46
8.1.4.7 Administration Expenses ______________________________________________________________ 46
8.1.4.8 Depreciation ________________________________________________________________________ 46
8.1.4.9 Taxation ___________________________________________________________________________ 47
8.1.5 Feasibility Indicators and Ratios ________________________________________________________ 47
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9.1 Change in Capex ____________________________________________________________________ 48
9.2 Change in Revenues _________________________________________________________________ 48
9.3 Change in Opex _____________________________________________________________________ 49
9.4 Availability of VGF ___________________________________________________________________ 50
9.5 Utilization of Facilities & Availability of VGF vs. Equity IRR ___________________________________ 51
Conclusions & recommendations___________________________________________________________________ 51
Appendix A. Land Documents ____________________________________________________________________ 53
Appendix B. Production__________________________________________________________________________ 55
Appendix C. Mandi Arrivals _______________________________________________________________________ 58
Appendix D. Procurement ________________________________________________________________________ 61
Appendix E. Storage Facility______________________________________________________________________ 64
Appendix F. Quotations _________________________________________________________________________ 67
F.1. Buhler _____________________________________________________________________________ 67
F.2. Scafco _____________________________________________________________________________ 75
F.3. Agrosaw ___________________________________________________________________________ 84
Appendix G. Typical Layout Plan for setting up of Silo Facilities __________________________________________ 89
Appendix H. Projected Financial Statements – Base Case ______________________________________________ 91
Tables
Table 3.1: Steel Silos vs. Concrete Silos ___________________________________________________________ 6
Table 3.2: General Supply Chain _________________________________________________________________ 8
Table 4.1: Details of Procurement Centres in 20 KM range ____________________________________________ 12
Table 5.1: Wheat Production & Yield Details – Madhya Pradesh________________________________________ 15
Table 5.2: Area under Irrigation in Madhya Pradesh _________________________________________________ 19
Table 5.3: Wheat Production in Raisen (2003-04 to 2011-12) __________________________________________ 20
Table 5.4: Mandi Arrivals in Madhya Pradesh (2003-04 to 2012-13) _____________________________________ 22
Table 5.5: Mandi Arrivals in Raisen (2002-03 to 2012-13) _____________________________________________ 23
Table 5.6: Procurement in Madhya Pradesh (2003-04 to 2012-13) ______________________________________ 25
Table 5.7: Procurement of Wheat in Raisen (2003-04 to 2012-13) ______________________________________ 27
Table 5.8: Summary of Wheat Scenario (MMT) _____________________________________________________ 28
Table 6.1: Storage Facility in Madhya Pradesh (in Lakh Tonnes) _______________________________________ 29
Table 6.2: Storage Facility expansion plans in Madhya Pradesh by 2014-15 (in Lakh Tonnes) ________________ 30
Table 6.3: Agency wise break-up of Storage Facility _________________________________________________ 31
Table 6.4: Storage Facilities in Raisen (as on 28-09-2012) ____________________________________________ 31
Table 6.5: Storage Gap Assessment _____________________________________________________________ 32
Table 7.1: Project Cost Estimates ________________________________________________________________ 34
Table 7.2: Land and Land Develpoement Cost______________________________________________________ 34
Table 7.3: Break up of Building and Civil Works Cost ________________________________________________ 35
Table 7.4: Plant and machinery Cost Estimates _____________________________________________________ 36
Table 7.5: Optimum Cost of Plant & Machineries - SKAFCO___________________________________________ 36

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Table 7.6: Cost of Electricals, Automation and Other Utilities __________________________________________ 38

Table 7.7: Preliminary and Pre operative Maintenance cost ___________________________________________ 39
Table 7.8: Working Capital Norms________________________________________________________________ 40
Table 8.1: Various rates considered ______________________________________________________________ 41
Table 8.2: Revenue Assumptions ________________________________________________________________ 42
Table 8.3: Power Cost Details ___________________________________________________________________ 44
Table 8.4: Cost Assumptions for Permanent Manpower ______________________________________________ 44
Table 8.5: Cost Assumption for Contract Labour ____________________________________________________ 45
Table 8.6: Repairs & Maintenance Expenses _______________________________________________________ 45
Table 8.7: Insurance Cost ______________________________________________________________________ 46
Table 8.8: Depreciation Rates ___________________________________________________________________ 46
Table 8.9: Tax Rates __________________________________________________________________________ 47
Table 8.10: Project Financial Feasibility Indicators ____________________________________________________ 47
Table 9.1: Change in Capex ____________________________________________________________________ 48
Table 9.2: Change in Revenues _________________________________________________________________ 48
Table 9.3: Applicability of Commission Charge______________________________________________________ 49
Table 9.4: Change in Opex _____________________________________________________________________ 49
Table 9.5: Availability of VGF vs Financial Indicators _________________________________________________ 50
Table 9.6: Availability of VGF & No commission charge vs Financial Indicators ____________________________ 50
Table 9.7: Utilization of Facilities & Availability of VGF vs. Equity IRR ___________________________________ 51
Figures
Figure 0.1: Location Map _______________________________________________________________________ vii
Figure 3.1: Supply Chain & Indicative Process Flow of Silo Facilities ______________________________________ 8
Figure 3.2: Chain for Bulk Arrival at Silo Location _____________________________________________________ 9
Figure 4.1: Location Map _______________________________________________________________________ 10
Figure 4.2: Connectivity ________________________________________________________________________ 12
Figure 5.1: Supply Chain of Wheat in MP __________________________________________________________ 13
Figure 5.2: Wheat Production in Madhya Pradesh (2003-04 to 2012-13) __________________________________ 16
Figure 5.3: Wheat Production in Raisen (2002-03 to 2012-13*) _________________________________________ 21
Figure 5.4: Mandi Arrivals of Wheat in Madhya Pradesh (2003-04 to 2012-13) _____________________________ 23
Figure 5.5: Mandi Arrivals of Wheat in Raisen (2002-03 to 2012-13) _____________________________________ 24
Figure 5.6: Wheat Procurement in Madhya Pradesh (2003-04 to 2012-13) ________________________________ 26
Figure 5.7: Wheat Procurement in Raisen (2003-04 to 2012-13) ________________________________________ 28
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Executive Summary
capacity of 50,000 MT has been considered at the proposed site in Raisen. This facility would have 4 bins,
Padoniya village having an area of about 7 acres (following map). The proposed site is about 7 KM far
from the nearest rail head. The 6 KM stretch of Pradhan Mantri Gram Sadak Yojna (PMGSY) road from the
rail head will connect to the site. Approach road of about 1 KM is required to be built, giving the site an
advantage in rail connectivity. The procurement centres are within the range of 20 kms of the site and have
a total procurement capacity of about 70,000 MT of wheat.
Figure 0.1: Location Map
Proposed Site, Village: Padoniya
years in Madhya Pradesh. The same trend is noted in the Raisen district as well.
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Contingency 145.04
Margin Money 8.80
tabulated as:

Equity 985.42 30.00%
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Revenue Assumptions
Revenues (2013)
years at 100% utilization. The financials assume that after 10 years, the project would achieve the 100%
utilization for the proposed project facilities.
Storage Capacity Utilization

Storage Levels Year 1 to 5 Year 5 to 10 Year 10 to 15 Year 15 to 20
Storage Capacity Utilization 100% 100% 100% 100%
Equity IRR 12.90% -
Pay Back Period 10.60 Year
that the DSCR for the project is less than 1. Since the project is also eligible for availing VGF, the
consultant has carried out sensitivity analysis to know the financial viability of the project at various levels
of VGF availability and the same has been given in the following table:
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Base
(INR lakhs) 3284.73 2956.26 2627.78 2463.55 2299.31 2135.07 1970.84
Project IRR 11.38% 12.43% 13.70% 14.45% 15.28% 16.22% 17.28%
Equity IRR 12.90% 14.56% 16.72% 18.09% 19.72% 21.72% 24.22%
DSCR 0.92 1.02 1.14 1.21 1.29 1.38 1.49
Source: MM Analysis
required.
Project IRR 11.38% 10.77% 10.10% 9.72% 8.90% 8.43%
Equity IRR 12.90% 12.08% 11.17% 10.64% 9.51% 8.86%
DSCR 0.92 0.92 0.92 0.92 0.92 0.92
Payback Period 10.60 10.68 10.80 10.88 11.08 11.24
guaranteed period from base case affects financial indicators adversely. No changes in DSCR are
observed because debt repayment is made during first 10 years of project life and payback period
increases with reduction in utilization level after 10 years of guaranteed period.

0% 10% 20% 25% 30% 35% 40%
Utilization of Facilities 100% 12.90% 14.56% 16.72% 18.09% 19.72% 21.72% 24.22%
after 10 years
90% 12.08% 13.74% 15.91% 17.28% 18.91% 20.92% 23.43%
80% 11.17% 12.81% 14.97% 16.34% 17.99% 20.02% 22.57%
75% 10.64% 12.31% 14.48% 15.83% 17.47% 19.50% 22.07%
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60% 8.86% 10.51% 12.64% 14.01% 15.67% 17.75% 20.41%
20%.
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1. Introduction


This is the Feasibility Report of the Silo Project for Raisen for the
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heads:



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years.
! "
! "
facility at Raisen would be 50,000 MT. It is proposed that the facility will

# " $ %

process
• Land allotment




monitored Silos.

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! & '


period. In general the grain can be kept safely in godowns until 16-
18 months.



! (

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also available.

!! " ( "



Source: MM Research
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equipment.
!! % % "

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Depot Bagging
Debagging

Storage
Despatch – Chain
Conveyor, Bucket
Dispatch


storage point
godowns for storage
for issue to PDS
Source: MM Analysis
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!! ) % "
facility.

Mechanized Receipts
Local Produce of Debagging (If needed)
Bulk Arrival at Silo
Wheat - Farmers
Weighing
Storage
Dispatch – Chain
Conveyor, Bucket
Trucks for Further
Dispatch Bagging
Source: MM Analysis

as an Annexure G.
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# *
Raisen is one of locations for the proposed Silo facilities in Madhya

MT capacity is located in Pandoniya village on an area of about 7
acres. The detailed address of the site is as follows:
Patwari Halka No. 2, Khasra No. 419/420, Village Pandoniya, Raisen,

Madhya Pradesh.

below:
Proposed Site, Village: Padoniya
Tentative Location of the proposed site
# ' " ' + '% , %
The land for the proposed site of 7 acres at Padoniya village,

Gauharganj has already been allotted by the State Government and
MPWLC has taken possession of the same. The documents pertaining
to the land agreement/allotment are attached as Appendix A. This land
will be provided by MPWLC to the developer for setting up the Silo in
the premises.
#! -
MW. The electricity to the proposed site can be made available from a
transformer which is located at about 300 metres away from the site.
However, a step down transformer is required at the project site for
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at the site.
##

The Branch Manager of MPWLC at Raisen, Mr. B.B. Mathur has

also in place. The rail head is connected by 6 km stretch of Pradhan
the site an advantage in rail connectivity. However, 1 km stretch of
approach road is required to connect to the rail head. The developer
needs to consider any augmentation as may be required in the
approach road to the rail head within his project costs and accordingly
the developer is advised to visit the site and assess the local conditions
and accessibility and use his technical knowledge in the matter.
Also, the national highway (NH12), is approximately 10 kms from the

location. The PMGSY road (single lane) connects the site to the
national highway road upto 9 kms. The distance from proposed site
boundary to PMGSY road is 1 km which is kachcha road. The
developer needs to consider any augmentation as may be required in
the approach road within his project costs and accordingly the
developer is advised to visit the site and assess the local conditions and
accessibility and use his technical knowledge in the matter.

centres of the site is detailed in figure below
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Mandideep
Hitotiya
Procurement Dahod
Centres within 20 Chiklod
kms radius of Silo Umraoganj Kala Khurd
Polaha
Chandla
khedi Itayakala
Thana Misrod
Mundga Ratanpur
Rail Head / NH
6 kms PMGSY Road 9 Kms
Ends 1km from Site

1 Km Kachcha Road
Transportation
Source: MM Analysis

Mandideep Mundga Ratanpur
Chiklodkala Khurd Hitotiya Pipliya
Umraoganj Polaha Chandlakhedi
Thana Itayakala Misrod Dahod
Source: MPWLC
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. / "'

below:
State Farmers Field

Production
FCI State Agencies: Private

Civil Supply + Traders/Dealers Procurement
Markfed

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Source: MM Analysis


location.
. / '
. " * "


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(%) (%)
2002-03 3381 4923 1456 -
2003-04 4091 7365 1800 49.60% 23.6
2004-05 4200 7327 1745 -0.52% -3.1
2005-06 3785 6200 1638 -15.38% -6.1
2006-07 4275 7848 1836 26.58% 12.1
2007-08 4101 6737 1643 -14.16% -10.5
2008-09 4010 7280 1815 8.06% 10.5
2009-10 4471 8873 1985 21.88% 9.3
2010-11 4645 9227 1986 3.99% 0.1
2011-12 4901 12703 2592 37.67% 30.5
2012-13 5434 16104 2964 26.77% 14.3

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18
16.1
16
14
Production (in MMT)
12.7
12
10 8.9 9.2
7.4 7.8
7.3
8 6.2 6.7 7.3
6
4
2
0
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year


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• 2009-10: 10.62%
• 2011-12: 18.69%
• 2012-13: 14.28%
crops:

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• Seed treatment
• Weed control


the soil

increase

of INR 150/quintal.

2012-13.


Pradesh:
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(In Lakh Ha)
2000-01 7.36 -
2001-02 9.40 27.72%
2002-03 7.69 -18.19%
2003-04 10.07 30.95%
2004-05 10.35 2.78%
2005-06 10.13 -2.13%
2006-07 9.37 -7.50%
2007-08 9.48 1.17%
2008-09 9.71 2.43%
2009-10 8.87 -8.65%
2010-11 9.76 10.03%
2011-12 16.34 67.42%
2012-13 20.21 23.66%

below.
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connection.
. * "
The wheat production of Raisen district for the last 10 years is as

tabulated below.
Table 5.3: Wheat Production in Raisen (2003-04 to 2011-12)

2002-03 0.271
2003-04 0.277
2004-05 0.279
2005-06 0.312
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2006-07 0.000
2007-08 0.204
2008-09 0.267
2009-10 0.377
2010-11 0.278
2011-12 0.622
2012-13* (proj.) 0.682
*Year 2012-13 production has been projected by consultant at a long term CAGR of
production in the district
Wheat production shows the increasing trend from the year 2007-08
onwards. The wheat production in 2007-08 was about 0.27 MMT which
had increased gradually for the next two years and was about 0.38
MMT in 2009-10. But in 2010-11, the production dropped to 0.28 MMT.
Subsequently in 2011-12, the production doubled to about 0.62 MMT.
The following graph depicts the trend in wheat production in Raisen
district over the period 2002-03 to 2012-13*.
Figure 5.3: Wheat Production in Raisen (2002-03 to 2012-13*)
0.8
0.7
0.68
0.6 0.62
Production (in MMT)
0.5
0.4
0.38
0.31
0.28 0.28
0.3 0.27 0.27 0.28
0.20
0.2
0.1
0
2002-03 2003-04 2004-05 2005-06 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13*
Year

*Year 2012-13 production has been projected by consultant at a long term CAGR of production in the district
The short term (2008-09 to 2012-13) CAGR for Raisen district is about
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year trend of production in Raisen that the production has suddenly
District wise production details of wheat in Madhya Pradesh are

enclosed as Appendix B.
.! )

.! " * "

2003-04 2.456 18.10%
2004-05 3.809 55.07%
2005-06 3.136 -17.67%
2006-07 3.037 -3.13%
2007-08 4.769 57.02%
2008-09 4.990 4.62%
2009-10 4.355 -12.72%
2010-11 6.098 40.02%
2011-12 8.234 35.03%
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2012-13 9.883 20.03%

2003-04 to 2012-13.

12.00
9.88
10.00
8.23
8.00
6.10
6.00
4.77 4.99
4.36
3.81
4.00 2.46 3.14 3.04
2.00
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
.! * "
The Mandi Arrivals of Raisen district for the last 10 years is as tabulated
below
Table 5.5: Mandi Arrivals in Raisen (2002-03 to 2012-13)

2002-03 0.113 -
2003-04 0.084 -25.27%
2004-05 0.178 110.98%
2005-06 0.152 -14.32%
2006-07 0.087 -42.73%
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2007-08 0.101 15.59%
2008-09 0.136 34.72%
2009-10 0.109 -19.61%
2010-11 0.261 138.41%
2011-12 0.376 44.24%
2012-13 0.512 36.31%
The short term CAGR (2008-09 to 2012-13) for Raisen district is about
39.33% indicating considerable increase in Mandi Arrivals in recent
years. But the long term CAGR (2003-04 to 2012-13) for Mandi Arrivals
is about 22.20% which indicates that an increasing trend of Mandi
Arrival in the district has been registered over decade. The following
graph depicts the year-wise Mandi Arrivals for Raisen district for period
2002-03 to 2012-13.
Figure 5.5: Mandi Arrivals of Wheat in Raisen (2002-03 to 2012-13)
0.6
0.5 0.512
0.4 0.376
0.3
0.261
0.2 0.178
0.084 0.152 0.087 0.101

0.136
0.1 0.109
0.113
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Raisen district have increased steeply over the last 4 years.
The details of mandi arrivals in Raisen are enclosed as Appendix C.
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.# ' %

.# " * "


MMT)
2003-04 0.200 -44.50%
2004-05 0.349 74.34%
2005-06 0.484 38.77%
2006-07 0.000 -
2007-08 0.057 -88.12%
2008-09 2.410 4092.61%
2009-10 1.967 -18.37%
2010-11 3.538 79.83%
2011-12 4.965 40.35%
2012-13 8.508 71.35%
Source: MPSCSCL

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started in 2008-09, about 2.410 MMT which showed an increasing trend
in later years and was about 8.508 MMT in 2012-13. Thus, the

the State agencies in the State is about 37.07% which is a considerable
increase during the period.

9
8.508
8
7
5 4.965
4
3.538
3
2.41 1.967
2
1 0.2 0.484
0.349 0.057
0
0
2006-07
2003-04
2004-05
2005-06
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
.# * "

procurement by State Agencies in Raisen district for the last 10 years is
as tabulated below.
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Table 5.7: Procurement of Wheat in Raisen (2003-04 to 2012-13)

Years Procurement (In MMT)
2002-03 0.066
2003-04 0.039
2004-05 0.064
2005-06 0.087
2006-07 0.000
2007-08 0.008
2008-09 0.087
2009-10 0.126
2010-11 0.210
2011-12 0.327
2012-13 0.512
Source: MPSCSCL

was registered at the State level. The procurement by the State
Agencies during recent years showed considerable high growth owing
to the incentives provided by the State Government to the farmers
leading to higher production.

the State agencies in the Raisen district is about 55.89% which shows
procurement in Raisen district over the period 2003-04 to 2012-13
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Figure 5.7: Wheat Procurement in Raisen (2003-04 to 2012-13)

0.6
0.5 0.512
0.4
0.327
0.3
0.2 0.21
0.126
0.1
0.066 0.064
0.039 0.087
0.087
0 0.008
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
.. "'%% / "
The supply chain scenario of wheat has been summarised in the

following table.

State Raisen State Raisen State Raisen
2002-03 4.923 0.271 - 0.113 - 0.066
2003-04 7.365 0.277 2.456 0.084 0.200 0.039
2004-05 7.327 0.279 3.809 0.178 0.349 0.064
2005-06 6.200 0.312 3.136 0.152 0.484 0.087
2006-07 7.848 0.000 3.037 0.087 0.000 0.000
2007-08 6.737 0.204 4.769 0.101 0.057 0.008
2008-09 7.280 0.267 4.990 0.136 2.410 0.087
2009-10 8.873 0.377 4.355 0.109 1.967 0.126
2010-11 9.227 0.278 6.098 0.261 3.538 0.210
2011-12 12.703 0.622 8.234 0.376 4.965 0.327
2012-13 16.104 0.682 9.883 0.512 8.508 0.512
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These are:
Corporations


Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
MPWLC 10.47 10.97 11.29 11.47 11.61 11.66 11.86
CWC 4.52 4.52 4.56 4.56 4.56 4.56 4.56
MARKFED 5.06 5.06 5.29 5.29 5.43 5.43 5.43
FCI 3.29 3.29 3.29 3.29 3.29 3.29 3.29
MANDI BOARD 2.57 2.57 2.62 2.62 2.62 2.62 2.62
CO-OPERATIVE SO. 4.63 4.63 4.63 4.63 4.63 4.63 4.63
LVS 2.92 2.92 4.00 4.00 4.00 4.00 4.00
OILFED 2.07 2.07 2.07 2.07 2.07 2.07 2.07
M.P.AGRO 0.31 0.31 0.31 0.31 0.31 0.31 0.31
NAFED 0.15 0.15 0.15 0.15 0.15 0.15 0.15
godon scheme) 18.64 26.23 33.51 39.56 44.90 53.13 69.08
RIDF MPWLC - - - - - - -
PEG godown (Prt.) - - - - - - -
PIG (SILO) - - - - - - -
MPWLC (SILO) - - - - - - -
PACAKAGE - - - - - - -
IAP - - - - - - -
Total 54.63 62.72 71.72 77.95 83.57 91.85 108.00
capacity (%) 14.81% 14.35% 8.69% 7.21% 9.91% 17.58%
Source: MPWLC
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was moderate in 2009-10 & 2010-11 which registered growth of about 8
to 9%. In 2011-12, the storage capacity increased by about 10% over


(in Lakh Tonnes)
of 2014-15
MPWLC 6.23 18.09
CWC 1.30 5.86
MARKFED - 5.43
FCI - 3.29
MANDI BOARD - 2.62
CO-OPERATIVE SO. - 4.63
LVS - 4.00
OILFED - 2.07
M.P.AGRO - 0.31
NAFED - 0.15
godon scheme) 2.00 71.08
RIDF MPWLC 7.00 7.00
PEG godown (Prt.) 12.85 12.85
PIG (SILO) 3.50 3.50
MPWLC (SILO) 5.00 5.00
PACAKAGE 6.50 6.50
IAP 1.80 1.80
(Early Bird) 15.00 15.00
Total 61.18 169.18
Source: MPWLC
The total estimated expansion in the storage capacity by various

agencies between years 2013 to 2015 is about 61.18 Lakh MT thereby
enhancing the capacity in 2014-15 to about 169.18 Lakh MT.
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The agency wise proportion break-up of the storage facility is as

tabulated below:

Agency 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Name 2014-15
MPWLC 19% 17% 16% 15% 14% 13% 11% 21% 27%
CWC 8% 7% 6% 6% 5% 5% 4% 4% 3%
MARKFED 9% 8% 7% 7% 6% 6% 5% 4% 3%
FCI 6% 5% 5% 4% 4% 4% 3% 2% 2%
MANDI
BOARD 5% 4% 4% 3% 3% 3% 2% 2% 2%
Co-Op. Soc. 8% 7% 6% 6% 6% 5% 4% 3% 3%
Private 34% 42% 47% 51% 54% 58% 64% 55% 50%
Others 10% 9% 9% 8% 8% 7% 6% 9% 11%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Source: MPWLC
Agency wise present storage facilities in the district of Raisen are

tabulated below.
Table 6.4: Storage Facilities in Raisen (as on 28-09-2012)

(in MT)
1 WLC 43537
2 FCI 0
3 CWC 0
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(in MT)
4 Markfed 17500
5 Olifed 0
6 Private 179498
7 Mandi Board 5000
Total 255485
Source: MPWLC
0 " $ %

Raisen.

production in Raisen about 75% of the wheat was traded at mandis.



mentioned above), mandi arrivals (at 75% of total production) and
tabulated as follows.

2011-12 (actual) 622000 375758 255485 120273
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2012-13 682041 512195 300407 211788
2013-14 753831 566108 385494 180613
2014-15 833178 625695 470582 155113
2015-16 920877 691555 470582 220973
2016-17 1017807 764347 470582 293765
2017-18 1124940 844801 470582 374219
2018-19 1181187 887041 470582 416459
2019-20 1240246 931393 470582 460811
2020-21 1302258 977962 470582 507380
2021-22 1367371 1026860 470582 556278
2022-23 1435740 1078203 470582 607621
2023-24 1477520 1109579 470582 638997
2024-25 1520516 1141868 470582 671286
2025-26 1564763 1175096 470582 704514
2026-27 1610297 1209291 470582 738710
2027-28 1657157 1244482 470582 773900
2028-29 1705380 1280696 470582 810114
2029-30 1755007 1317965 470582 847383
2030-31 1806078 1356317 470582 885735
2031-32 1858634 1395786 470582 925204
2032-33 1912721 1436404 470582 965822
Source: MM Analysis
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Land 0.70
Contingency 145.04
Margin Money 8.80
1 * * %

project on stand alone basis. However, the developer would need to
table below.

Quantity
Land 7.00 0.00 0.00
Cost 0.70
1 2' /
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Cu.m 8400 11000 924.00
Grade - M30)
either side) with HPSS of 1m (either side) including 0.25m of Kms 1.5 7200000 108.00
plantation (either side)
External Approach Road (CC Road - 16 mtr wide) Kms 1 20000000 200.00
Sqm 2266 3000 67.98
concrete paved area
Sqm 1000 2500 25.00
coat
Sqm 500 2000 10.00
water
1 ! )
MT each.

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imported 580.63 884.72 975.17
844.00 884.72 1103.31
Import Duty 10% 58.06 88.47 97.52
CST 2.0% 5.27 0.00 2.56
Inland Freight 3.0% 17.42 26.54 29.26
Total P & M Cost *966.95 1043.97 1287.81


Savings due
Aeration System 54066 2973630 0% 2973630 0%
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Savings due
Centrifugal Fan 30686 1687752 30% 1181426 30%
Others 4048 222662 0% 222662 0%
4 Roof Exhausters 19879 1093323 0% 1093323 0%
7 (Wheat)**
Sweep Auger 33054 1817992 30% 1272594 30%
Others 6867 377663 0% 377663 0%
4 95450 5249764 25% 3937323 25%
TPH Wheat 67100 3690484 30% 2583338 30%
Dust Silo DB1 -63.3m3 14896 819253 30% 573477 30%
E2 78962 4342883 35% 2822874 35%
Others 24142 1327818 35% 863082 35%
Total 1675840 92171222 84399633
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Savings due
CST 2.0% 526730

1 # 3 + ' % -

Other Utilities
DG sets Nos. 2 2000000 40.00
- connection cost
Reversing Switch Lumpsum 1 700000 7.00 From General Panel for Low Tension
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Other Utilities
process flow
Utilities
1 . %


Interest During Construction % Interest on Debt 12% 6 106.60
1 0

1 1 ) ) /

assumptions:
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Debtors 1 -
Stores & Spares 3 -
Bank Finance 75%

Lakhs.
1 ) 4



Lakhs) TPC)
Equity 985.42 30.00%

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5 '%

5 2 '%
concession period
5 '%

year.


Rate of Basis
Escalation
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Rate of Basis
Escalation

2011-2012 156.13
2010-2011 143.32
2009-2010 130.81
2008-2009 126.02
2007-2008 116.63
2006-2007 111.35
2005-2006 104.47
CAGR 5.91%
5 ! ' '%

Charge.


Revenues (2013)
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Revenues (2013)

Concession.


been considered.
5 # '%

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8.1.4.1 Power Cost


Load Factor 21%

table below:

Cost Total Cost
Manpower Category
Clerks 1 144000 1.44
Peons 2 72000 1.44
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Sampling of Wheat, laboratory test and
Rs./quintal 2.00
weighment
Rs./quintal 3.00
bags
Source: MM Analysis

India.


Duration Unit Value
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below:

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8.1.4.9 Taxation


Tax Rates Rates
Income Tax 32.45%
MAT 20.01%
same.
5 . 4

ROCE.

Equity IRR 12.90% -
DSCR 0.92 Times
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6 7


Change in Capex 0% 5% 10% -5% -10%
Project IRR 11.38% 10.89% 10.45% 11.91% 12.46%
Equity IRR 12.90% 12.17% 11.53% 13.70% 14.55%
DSCR 0.92 0.86 0.82 0.97 1.03
Source: MM Analysis

in the above table.
6 '


Project IRR 11.38% 12.85% 14.28% 9.88% 8.36%
Equity IRR 12.90% 15.20% 17.61% 10.73% 8.65%
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DSCR 0.92 1.08 1.25 0.75 0.59
Source: MM Analysis

each other.


Equity IRR 12.90% 9.42%
DSCR 0.92 0.65
Source: MM Analysis

6! 7
follows:

Change in Opex 0% 5% 10% -5% -10%
Project IRR 11.38% 11.06% 10.72% 11.69% 12.03%
Equity IRR 12.90% 12.42% 11.92% 13.38% 13.91%
DSCR 0.92 0.88 0.84 0.95 0.99
Source: MM Analysis
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6# 8$4
are tabulated as:

Base
(INR lakhs) 3284.73 2956.26 2627.78 2463.55 2299.31 2135.07 1970.84
Project IRR 11.38% 12.43% 13.70% 14.45% 15.28% 16.22% 17.28%
Equity IRR 12.90% 14.56% 16.72% 18.09% 19.72% 21.72% 24.22%
DSCR 0.92 1.02 1.14 1.21 1.29 1.38 1.49
Source: MM Analysis

below:

Base
(INR lakhs) 3283.07 2954.77 2626.46 2462.31 2298.15 2134.00 1969.84
Project IRR 8.93% 9.83% 10.88% 11.49% 12.17% 12.94% 13.81%
Equity IRR 9.42% 10.66% 12.20% 13.14% 14.22% 15.52% 17.09%
DSCR 0.65 0.73 0.82 0.88 0.94 1.01 1.09
Source: MM Analysis
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6. - 9 4 : 8$4 3;'

0% 10% 20% 25% 30% 35% 40%
100% 12.90% 14.56% 16.72% 18.09% 19.72% 21.72% 24.22%
90% 12.08% 13.74% 15.91% 17.28% 18.91% 20.92% 23.43%
80% 11.17% 12.81% 14.97% 16.34% 17.99% 20.02% 22.57%
after 10 years
70% 10.64% 12.31% 14.48% 15.83% 17.47% 19.50% 22.07%
60% 8.86% 10.51% 12.64% 14.01% 15.67% 17.75% 20.41%
Source: MM Analysis
of 100% utilization. On the other hand availability of VGF against
' : %% :
GoI.
320162/MCB/ISA/AA/01 22 May 2013

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available, then more than 40% of VGF is required to achieve the DSCR
of 1.20 times.
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320162/MCB/ISA/AA/01 22 May 2013

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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
1 Jabalpur 154.6 156.3 184.0 N.A. 126.6 171.5 158.6 280.5 284.9
2 Katni 86.6 75.4 70.9 N.A. 39.6 74.3 70.8 59.0 96.7
3 Balaghat 17.4 7.9 22.1 N.A. 13.2 12.3 19.5 22.9 29.8
4 Chhindwara 170.2 145.6 144.1 N.A. 223.4 175.2 425.2 388.9 748.4
5 Seoni 93.1 77.7 88.8 N.A. 93.4 90.1 90.5 102.1 127.5
6 Mandla 26.8 26.6 28.5 N.A. 25.3 26.6 23.0 16.7 17.6
7 Dindori 21.9 24.0 18.4 N.A. 14.9 19.4 19.1 16.0 33.7
8 Narsinghpur 181.7 168.9 172.6 N.A. 157.5 189.7 169.4 226.9 253.2
9 Sagar 183.7 173.1 176.4 N.A. 131.8 188.2 244.5 186.5 295.1
10 Damoh 96.6 97.8 102.1 N.A. 99.8 131.8 136.3 171.4 197.0
11 Panna 78.9 76.7 74.9 N.A. 53.2 88.3 97.1 89.1 103.7
12 Tikamgarh 250.3 174.8 79.0 N.A. 28.0 209.2 168.3 99.0 241.5
13 Chhatarpur 249.6 243.7 180.5 N.A. 60.1 195.8 203.9 169.1 199.5
14 Rewa 204.4 181.1 170.8 N.A. 99.3 165.3 158.0 111.3 215.4
15 Sidhi 76.6 67.2 64.1 N.A. 54.7 47.0 45.4 38.1 67.4
16 Singroli 0.0 0.0 0.0 N.A. 0.0 28.9 35.0 35.1 60.9
17 Satna 197.7 173.9 184.3 N.A. 88.5 147.8 173.1 119.1 202.2
18 Shahdol 16.6 16.4 17.2 N.A. 18.0 20.7 16.9 17.1 33.3
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
19 Anuppur 10.2 9.0 10.2 N.A. 8.2 9.1 8.8 7.0 17.4
20 Umaria 23.1 20.8 21.9 N.A. 18.6 22.7 20.5 19.9 28.6
21 Indore 287.2 304.9 88.7 N.A. 244.3 134.4 220.1 271.3 252.7
22 Dhar 350.7 341.4 138.1 N.A. 500.0 298.8 354.9 453.5 379.5
23 Jhabua 53.7 56.6 49.0 N.A. 77.3 33.6 44.6 51.6 63.5
24 Khargone 149.2 126.9 57.9 N.A. 181.8 98.5 224.9 276.6 340.0
25 Barwani 61.2 50.0 18.0 N.A. 51.9 62.1 49.1 83.1 114.9
26 Khandwa 88.1 73.5 88.8 N.A. 107.9 115.6 120.1 154.8 211.1
27 Burhanpur 17.5 16.7 16.5 N.A. 19.9 20.2 19.4 24.8 31.7
28 Alirajpur 0.0 0.0 0.0 N.A. 0.0 25.3 24.8 28.6 32.9
29 Ujjain 223.4 345.6 114.1 N.A. 341.1 184.3 318.6 237.8 375.0
30 Mandsaur 57.5 134.4 51.1 N.A. 131.2 126.6 156.9 122.7 229.3
31 Neemuch 49.0 74.4 63.2 N.A. 59.0 74.9 61.8 92.1 101.5
32 Ratlam 182.4 203.8 138.0 N.A. 228.9 196.4 218.3 276.8 309.4
33 Dewas 218.8 225.4 89.1 N.A. 215.0 211.0 247.9 247.5 375.0
34 Shajapur 148.3 180.2 68.2 N.A. 164.9 134.8 221.4 182.1 297.7
35 Morena 210.4 207.3 220.7 N.A. 159.8 184.8 179.8 221.8 222.7
36 Sheopur Kalan 109.4 78.7 90.9 N.A. 93.4 94.3 144.0 173.5 191.2
37 Bhind 151.0 133.3 142.2 N.A. 102.5 177.9 214.2 185.2 163.3
38 Gwalior 274.3 236.3 244.9 N.A. 111.4 229.1 189.9 254.0 346.8
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
39 Shivpuri 262.4 216.5 225.5 N.A. 110.1 224.0 250.4 298.1 247.8
40 Guna 106.0 103.2 124.9 N.A. 119.4 143.4 127.4 187.9 243.1
41 Ashoknagar 123.8 120.4 138.8 N.A. 119.9 148.0 173.0 193.0 233.2
42 Datia 180.9 139.1 148.5 N.A. 151.8 229.4 290.8 260.2 346.1
43 Bhopal 108.2 135.4 115.2 N.A. 120.1 126.7 147.1 127.5 304.2
44 Sehore 346.8 364.9 233.4 N.A. 189.0 226.9 401.1 327.2 666.8
45 Raisen 277.1 279.3 311.9 N.A. 203.9 266.9 376.5 278.4 622.0
46 Vidisha 332.9 335.2 310.8 N.A. 202.4 259.6 370.4 341.6 402.1
47 Rajgarh 102.7 102.6 45.9 N.A. 103.7 85.8 145.3 140.4 282.2
48 Hoshangabad 439.3 449.7 429.0 N.A. 698.6 607.4 700.1 854.0 1135.4
49 Harda 179.8 238.6 231.1 N.A. 153.4 168.0 181.6 560.7 639.9
50 Betul 125.2 128.8 145.1 N.A. 412.6 369.6 407.0 137.3 281.0
Non Reported 7.4 7.4 7.4 N.A. 7.4 7.4 7.4 7.4 7.4
State 7364.6 7327.4 5957.7 N.A. 6736.7 7279.6 8872.7 9227.2 12703.2
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Betul 11705 33047 17573 24948 25727 60251 29725 91862 69513 82268
2 Bhopal 23330 52900 48271 88307 86209 51215 53075 140663 178733 261643
3 Harda 132375 204832 114803 216925 260224 353681 255571 312373 453863 464200
4 Hoshangabad 344708 385572 302337 406767 479281 673887 509486 611476 847351 998493
5 Raisen 84321 177899 152421 87284 100889 135917 109270 260513 375758 512195
6 Rajgarh 37711 89686 78828 40666 130838 90279 59194 153371 208688 283189
7 Sehore 123628 222887 143336 121465 207610 215006 135712 296672 436969 506010
8 Vidisha 122584 167179 150908 119927 155679 125710 116095 240269 339373 423289
9 Alirajpur 12442 14057 12297 13577 20107 14294 18725 9694 10760 7135
10 Badwani 9086 11844 17750 20196 38373 29988 14448 17987 31118 41086
11 Burhanpur 1855 6501 2583 2817 7682 21271 9732 6329 12024 11188
12 Dhar 104407 219042 196744 153720 325773 278790 162089 199203 286591 298197
13 Indore 112082 208151 128666 44632 251835 215229 112581 170223 294535 269210
14 Jhabua 41476 48576 50107 48308 39728 56452 43338 42259 40450 43882
15 Khandwa 34820 30607 35613 50319 129600 86217 79436 90299 133707 156492
16 Khargone 35866 46224 47050 36621 83425 155965 70716 120286 174343 196079
17 Dewas 53984 153601 115988 80333 189630 214748 141619 165153 341695 334456
18 Mandsour 6786 8886 44342 17803 109211 85025 55050 123018 86674 159112
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Neemuch 27268 19787 49228 86585 145758 161547 52124 80706 124328 125768
20 Ratlam 15372 42243 54049 32494 130094 151022 44831 86886 107144 164427
21 Shajapur 55421 108925 100211 87388 167407 124488 47914 138299 156052 239204
22 Ujjain 31422 118074 98759 45592 263189 300612 66342 180354 267268 400991
23 Ashoknagar 42132 71283 52754 36039 55296 49887 75525 96073 157955 152912
24 Bhind 34845 29881 10414 27080 43932 54215 73065 60686 99864 118580
25 Datia 68588 60124 25017 35504 87779 87198 126988 150860 223675 180537
26 Guna 30946 33730 47906 51985 92878 73050 97148 116420 192514 183988
27 Gwalior 59913 103706 43118 65472 83866 96615 150230 158083 198436 160763
28 Morena 63170 58806 16922 58213 68537 73410 77496 102659 146344 154475
29 Sheopur 37378 35309 34709 54477 74462 101207 71538 85716 159288 223454
30 Shivpuri 56264 81244 56203 59209 78491 49325 149263 152919 201982 280208
31 Chhatarpur 41664 105645 107418 53470 30836 7070 177835 145627 165158 281249
32 Damoh 29471 55343 58940 67725 69246 47998 60202 97265 99459 126435
33 Panna 12497 9676 7582 5566 3882 3213 11666 16551 20589 62809
34 Sagar 93376 152353 180426 128469 128008 56100 140563 214801 287510 321752
35 Tikamgarh 89289 157514 101735 59118 50941 21156 237595 213731 244239 437649
36 Balaghat 7556 19305 6405 15909 14245 14472 6346 6275 3798 7381
37 Chhindwara 26599 38173 57271 63252 62730 78111 43700 133300 135756 126418
38 Dindori 4274 11310 10108 6972 9019 8036 9425 12283 12497 12867
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Jabalpur 73976 82071 80481 90649 119138 154398 186683 207845 291626 343276
40 Katni 49833 66539 48528 68326 59973 86510 75646 77825 88290 82344
41 Mandla 8045 11052 12832 9963 16548 19530 27957 33109 33792 45530
42 Narsingpur 42732 42512 29574 40532 38570 50178 60860 82020 111196 0
43 Seoni 33773 48691 34368 55429 67705 101939 63788 140766 170468 216564
44 Anuppur 208 383 476 393 393 492 801 783 842 2621
45 Rewa 35042 31824 41844 45459 53464 39244 74142 61620 48792 105800
46 Satna 63187 87050 47976 57982 52795 77105 109618 105022 112828 208733
47 Shahdol 10750 14849 19580 17056 18877 16674 9252 14546 12165 14500
48 Sidhi 8357 16862 33136 28885 27247 11515 32221 56377 15628 34199
49 Singrauli 0 0 0 0 0 0 0 0 2118 0
50 Umaria 9590 12971 7979 7472 12116 9369 18467 17105 20350 19781
State 2456104 3808726 3135566 3037280 4769243 4989611 4355093 6098162 8234096 9883339
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Bhopal 0 10609 12147 0 3570 43514 27309 92288 117085 241604
2 Sehore 6784 16051 27029 0 1201 105958 67656 194513 233992 415721
3 Raisen 39465 63704 86632 0 8061 86630 126478 210127 326778 511572
4 Biora 0 759 2806 0 56
5 Vidisha 238 2136 7319 0 144 23069 18627 78738 135170 325127
6 Betul 22 67 86 0 24 34715 20099 64831 61269 98933
7 H'bad 53874 72520 118770 0 13768 412263 405542 545052 731102 950528
8 Harda 11330 24530 70266 0 8134 238665 241879 314298 467133 539855
9 Indore 0 521 7108 0 184 87351 8015 72003 128350 217551
10 Jhabua 0 0 143 0 0 26815 1777 9367 13474 26130
11 Dhar 0 0 3387 0 1857 75700 22698 90671 168561 230253
12 Khargone 0 0 514 0 0 68794 12026 78161 113088 169401
13 Badwani 0 0 10 0 0 16473 3894 10147 25133 40742
14 Khandwa 12 0 99 0 0 26669 21257 57594 104552 178217
15 Burhanpur 0 0 4 0 0 18202 7397 4000 7644 7627
16 Ujjain 0 688 34349 0 2730 206768 5307 119511 179529 361380
17 Dewas 0 2768 8191 0 500 81172 21821 109036 166466 280488
18 Ratlam 0 0 4975 0 1831 83027 5005 29095 43034 107223
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Mandsour 0 0 934 0 480 28808 4854 33626 32973 90745
20 Neemuch 0 0 551 0 781 26092 5086 5052 18979 42972
21 Shajapur 0 7395 14243 0 71 57561 6886 105037 124028 248057
22 Sagar 3530 8569 4860 0 5 19469 53347 94877 110468 235440
23 Damoh 2029 2513 3063 0 34 21697 39649 60080 65530 133253
24 Panna 1005 1509 1781 0 0 828 7268 12416 19206 58346
25 Chhatarpur 17567 29499 10821 0 0 1778 53541 73003 83528 179432
26 Tikamgarh 12743 32597 12214 0 0 5441 93770 66945 65510 164710
27 Jabalpur 2583 1055 557 0 0 61942 86825 74788 139750 266974
28 Chhindwara 0 50 0 0 82 26828 13963 71721 85161 139291
29 Balaghat 0 0 0 0 0 3158 2503 1989 2740 3766
30 Mandla 337 362 244 0 73 9929 11006 16952 21467 36394
31 Dindori 0 0 0 0 0 42 275 650 1110 3685
32 Seoni 120 1734 2046 0 36 58649 30021 79410 109087 195877
33 Narsingpur 4496 6805 3503 0 168 36001 42912 68803 112711 156303
34 Katni 1952 1950 1174 0 2 18231 16098 28003 44258 95532
35 Rewa 720 831 363 0 68 11366 23585 21877 25596 98206
36 Sidhi 5301 5728 1195 0 2 9207 7680 7181 8223 20629
37 Satna 24595 1186 1025 0 0 17586 45944 44592 43189 126429
38 Shahdole 1485 2461 1444 0 0 4024 7932 8830 11088 18013
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Anoop Pur 0 0 9 0 0 36 199 205 318 1919
40 Umaria 2014 2647 2064 0 315 3132 6940 7353 8601 20157
41 Gwalior 1788 8646 7294 0 9 66380 64817 61344 103458 171078
42 Datia 5089 8140 5645 0 828 42277 36977 68372 79521 160628
43 Shivpuri 534 10297 3496 0 454 18171 55104 78005 86772 194162
44 Guna 0 2219 7835 0 4108 27961 52587 54593 83523 159213
45 Ashoknagar 0 0 1416 0 0 13190 24419 36519 56453 116359
46 Bhind 387 1037 174 0 8 28268 24001 32273 48106 81454
47 Murena 0 464 0 0 0 41981 47493 74553 86117 133784
48 Sheopurkala 19 16668 12119 0 7895 88924 58910 87248 147196 214234
49 Alirajpur 0 808 1079 3383 3428
50 Rajgarh 25130 17707 70392 103021 217432
51 Singroli 0 7251 10349 11528 17442
Grand Total 7817 47471 37979 0 13302 352282 390074 574727 809078 1469214
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Co-
Mandi operative
1 Bhopal 5300 25000 45740 27000 0 41537 1700 8310 154587
2 Hoshangabad 130421 80000 0 11000 48000 657747 11500 12260 950928
3 Harda 65570 0 0 3000 0 188620 4200 3900 265290
4 Sehore 27000 0 0 9600 48490 130594 6400 14360 236444
5 Rajgarh 17000 0 0 15000 0 130868 6000 1485 170353
6 Betul 13000 10000 0 7000 0 64072 3000 12790 109862
7 Raisen 43537 0 0 17500 0 179498 5000 9950 255485
8 Vidisha 44150 10000 0 18000 0 278189 4500 16050 370889
9 Bhind 17200 0 26000 11900 0 37880 2200 15450 110630
10 Datia 27600 7500 0 7000 0 31057 500 5355 79012
11 Guna 51440 0 0 14000 0 82247 7600 9300 164587
12 Ashoknagar 26000 11920 0 6000 0 75307 3000 0 122227
13 Gwalior 37300 12500 19750 14050 0 214406 3400 7990 309396
14 Murena 15400 0 64250 11000 30200 207824 6400 8200 343274
15 Sheopur 9200 11280 31000 5300 0 49516 4900 0 111196
16 Shivpuri 32800 0 0 8100 0 118366 3100 6450 168816
17 Balaghat 18600 44290 10000 20950 0 4798 3300 9710 111648
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
18 Chindwara 28250 0 0 11800 27052 62493 4900 19530 154025
19 Jabalpur 42350 10640 0 6875 0 196597 9100 15500 281062
20 Katni 5400 8640 25100 10000 0 93349 2000 0 144489
21 Narsinghpur 18666 0 19150 10700 0 85548 7100 20200 161364
22 Seoni 19000 8340 0 10000 0 77989 2800 7350 125479
23 Mandla 9180 0 0 17625 0 9936 2200 8090 47031
24 Dindori 4530 0 0 2000 0 0 0 0 6530
25 Dhar 31900 0 5000 12775 0 96858 13700 13070 173303
26 Indore 14310 0 77750 24000 0 283865 8500 10900 419325
27 Khandwa 3125 0 97367 17150 0 111510 7950 26115 263217
28 Barwani 10977 0 0 1000 0 15500 0 27477
29 Jhabua 20600 5000 0 3000 0 17653 5100 15030 66383
30 Alirajpur 6800 0 0 0 0 0 0 0 6800
31 Khargone 22450 0 0 8000 10944 51321 20700 33630 147045
32 Dewas 75050 0 0 13850 0 147083 8200 10620 254803
33 Burhanpur 0 0 27200 5000 0 1855 7350 0 41405
34 Ujjain 48916 15000 0 12000 38400 233371 10500 23845 382032
35 Mandsour 41400 0 0 8650 0 83132 3200 19370 155752
36 Neemuch 21846 0 0 7000 0 143270 2100 0 174216
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
37 Ratlam 43400 8980 0 19500 0 160431 22400 15300 270011
38 Rajapur 38385 0 8000 12000 0 186987 5500 15420 266292
39 Chhatarpur 28400 10000 0 10400 0 144646 2400 12850 208696
40 Panna 5000 0 0 6000 0 31333 200 4325 46858
41 Tikamgarh 22800 33140 0 15400 0 50927 2400 11200 135867
42 Sagar 47000 3780 0 18900 0 167730 10500 0 247910
43 Damoh 13600 0 0 12000 0 227594 1500 10200 264894
44 Anuppur 4000 0 0 0 0 0 500 4500
45 Satna 36986 6920 0 18280 0 22389 4500 12040 101115
46 Shahdol 12000 5640 0 21375 0 0 2000 0 41015
47 Singroli 2000 0 0 0 0 0 0 0 2000
48 Sidhi 7800 0 0 8575 4000 0 0 14830 35205
49 Rewa 14400 0 0 9575 0 12696 700 7950 45321
50 Umaria 2800 0 0 3000 0 0 0 0 5800
State 1284839 328570 456307 542830 207086 5193089 260200 468925 8741846
320162/MCB/ISA/AA/01 22 May 2013

Confidential

320162/MCB/ISA/AA/01 22 May 2013

Confidential
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Base Case
7. Tax Computation
320162/MCB/ISA/AA/01 22 May 2013


P & P Exp. 230.12 7.01%
VGF 0.00

Total 3284.73

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Revenues
Storage Charge
Variable Charge 35.64 37.74 39.97 42.33 44.83 47.48 50.29 53.26 56.41 59.74 63.27 67.01 70.96 75.16 79.60 84.30 89.28 94.55 100.14 106.06 112.32 118.96 125.98 133.43 141.31 149.66 158.50 167.86 177.78 188.28
Total Revenues 569.09 602.71 638.32 676.03 715.97 758.27 803.06 850.51 900.75 953.97 1010.33 1070.01 1133.23 1200.18 1271.08 1346.17 1425.70 1509.93 1599.13 1693.60 1793.66 1899.62 2011.85 2130.70 2256.58 2389.89 2531.08 2680.61 2838.98 3006.70
Expenditure
Power Cost 72.00 74.16 76.38 78.68 81.04 83.47 85.97 88.55 91.21 93.94 96.76 99.66 102.65 105.73 108.91 112.17 115.54 119.01 122.58 126.25 130.04 133.94 137.96 142.10 146.36 150.75 155.27 159.93 164.73 169.67
Fumigation Cost 16.20 17.01 17.86 18.75 19.69 20.68 21.71 22.80 23.93 25.13 26.39 27.71 29.09 30.55 32.07 33.68 35.36 37.13 38.99 40.94 42.98 45.13 47.39 49.76 52.25 54.86 57.60 60.48 63.51 66.68
EBIDTA 287.68 310.43 334.63 360.36 387.73 367.68 398.61 431.49 466.44 503.58 493.90 535.84 580.40 627.73 678.02 731.43 788.16 848.40 912.38 980.32 1052.46 1129.05 1210.36 1296.68 1388.31 1485.57 1588.80 1698.37 1814.64 1938.04
Depreciation 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78
EBIT 154.89 177.65 201.84 227.58 254.94 234.90 265.83 298.71 333.65 370.79 361.12 403.06 447.61 494.95 545.23 598.64 655.37 715.62 779.60 847.54 919.68 996.27 1077.58 1163.90 1255.53 1352.79 1456.02 1565.58 1681.86 1805.26
Interest on LTL 266.06 254.98 225.41 195.85 166.29 136.73 107.16 77.60 48.04 18.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.17 3.40 3.65 3.91 4.19 3.38 3.69 4.02 4.37 4.75 4.04 4.45 4.90 5.37 5.86 6.39 6.95 7.54 8.17 8.83 9.54 10.28 11.07 11.91 12.80 13.74 14.74 15.80 16.92 18.10
PBT -114.33 -80.73 -27.22 27.82 84.46 94.79 154.97 217.08 281.24 347.57 357.09 398.60 442.72 489.58 539.37 592.25 648.42 708.08 771.43 838.71 910.14 985.98 1066.50 1151.99 1242.73 1339.05 1441.28 1549.79 1664.95 1787.16
Tax 0.00 0.00 0.00 5.57 16.90 18.97 31.01 43.43 56.27 69.54 71.44 79.75 88.58 97.95 107.92 118.50 178.83 258.41 280.62 303.91 328.37 354.11 381.24 409.86 440.08 472.02 505.80 541.55 579.39 619.46
PAT -114.33 -80.73 -27.22 22.25 67.56 75.83 123.97 173.65 224.97 278.03 285.64 318.85 354.14 391.63 431.45 473.76 469.59 449.67 490.81 534.80 581.77 631.87 685.26 742.13 802.65 867.03 935.48 1008.24 1085.56 1167.69


P & P Exp. 230.12

Total Dep 3275.93 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78

Total WDV 3275.93 2877.58 2529.70 2225.63 1959.64 1726.78 1522.75 1343.84 1186.83 1048.92 927.70 821.07 727.19 644.47 571.54 507.18 450.36 400.14 355.74 316.44 281.65 250.81 223.48 199.23 177.70 158.57 141.58 126.46 113.02 101.04 90.38

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Current Assets
Debtors 47.42 50.23 53.19 56.34 59.66 63.19 66.92 70.88 75.06 79.50 84.19 89.17 94.44 100.01 105.92 112.18 118.81 125.83 133.26 141.13 149.47 158.30 167.65 177.56 188.05 199.16 210.92 223.38 236.58 250.56
Current Liabilities
Margin Money 8.80 9.45 10.13 10.86 11.64 9.39 10.25 11.18 12.15 13.18 11.21 12.37 13.60 14.90 16.29 17.75 19.30 20.95 22.69 24.54 26.49 28.56 30.76 33.09 35.56 38.17 40.94 43.88 46.99 50.28
Bank Finance 26.39 28.34 30.40 32.59 34.91 28.16 30.76 33.53 36.45 39.55 33.63 37.11 40.80 44.71 48.86 53.25 57.91 62.84 68.07 73.61 79.47 85.69 92.29 99.27 106.67 114.51 122.82 131.63 140.96 150.85

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 2299.31 2299.31 2043.83 1788.35 1532.87 1277.39 1021.92 766.44 510.96 255.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2299.31 2235.44 1979.96 1724.48 1469.00 1213.53 958.05 702.57 447.09 191.61 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2299.31 2171.57 1916.09 1660.61 1405.13 1149.66 894.18 638.70 383.22 127.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2299.31 2107.70 1852.22 1596.74 1341.26 1085.79 830.31 574.83 319.35 63.87 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 63.87 63.87 63.87 63.87 63.87 63.87 63.87 63.87 63.87 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 63.87 63.87 63.87 63.87 63.87 63.87 63.87 63.87 63.87 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 63.87 63.87 63.87 63.87 63.87 63.87 63.87 63.87 63.87 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 63.87 63.87 63.87 63.87 63.87 63.87 63.87 63.87 63.87 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 255.48 255.48 255.48 255.48 255.48 255.48 255.48 255.48 255.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 2299.31 2235.44 1979.96 1724.48 1469.00 1213.53 958.05 702.57 447.09 191.61 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2299.31 2171.57 1916.09 1660.61 1405.13 1149.66 894.18 638.70 383.22 127.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2299.31 2107.70 1852.22 1596.74 1341.26 1085.79 830.31 574.83 319.35 63.87 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2299.31 2043.83 1788.35 1532.87 1277.39 1021.92 766.44 510.96 255.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 66.52 66.52 59.13 51.73 44.34 36.95 29.56 22.17 14.78 7.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 66.52 64.67 57.28 49.89 42.50 35.11 27.71 20.32 12.93 5.54 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 66.52 62.82 55.43 48.04 40.65 33.26 25.87 18.48 11.09 3.70 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 66.52 60.97 53.58 46.19 38.80 31.41 24.02 16.63 9.24 1.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 266.06 254.98 225.41 195.85 166.29 136.73 107.16 77.60 48.04 18.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 1642.36 1642.36 1459.88 1277.39 1094.91 912.42 729.94 547.45 364.97 182.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1642.36 1596.74 1414.26 1231.77 1049.29 866.80 684.32 501.83 319.35 136.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1642.36 1551.12 1368.64 1186.15 1003.67 821.18 638.70 456.21 273.73 91.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1642.36 1505.50 1323.02 1140.53 958.05 775.56 593.08 410.59 228.11 45.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 45.62 45.62 45.62 45.62 45.62 45.62 45.62 45.62 45.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 45.62 45.62 45.62 45.62 45.62 45.62 45.62 45.62 45.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 45.62 45.62 45.62 45.62 45.62 45.62 45.62 45.62 45.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 45.62 45.62 45.62 45.62 45.62 45.62 45.62 45.62 45.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 182.48 182.48 182.48 182.48 182.48 182.48 182.48 182.48 182.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 1642.36 1596.74 1414.26 1231.77 1049.29 866.80 684.32 501.83 319.35 136.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1642.36 1551.12 1368.64 1186.15 1003.67 821.18 638.70 456.21 273.73 91.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1642.36 1505.50 1323.02 1140.53 958.05 775.56 593.08 410.59 228.11 45.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1642.36 1459.88 1277.39 1094.91 912.42 729.94 547.45 364.97 182.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 49.27 49.27 43.80 38.32 32.85 27.37 21.90 16.42 10.95 5.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 49.27 47.90 42.43 36.95 31.48 26.00 20.53 15.06 9.58 4.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 49.27 46.53 41.06 35.58 30.11 24.64 19.16 13.69 8.21 2.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 49.27 45.17 39.69 34.22 28.74 23.27 17.79 12.32 6.84 1.37 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 197.08 188.87 166.97 145.08 123.18 101.28 79.38 57.48 35.58 13.69 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 656.95 656.95 583.95 510.96 437.96 364.97 291.98 218.98 145.99 72.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 656.95 638.70 565.70 492.71 419.72 346.72 273.73 200.73 127.74 54.75 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 656.95 620.45 547.45 474.46 401.47 328.47 255.48 182.48 109.49 36.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 656.95 602.20 529.21 456.21 383.22 310.22 237.23 164.24 91.24 18.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 18.25 18.25 18.25 18.25 18.25 18.25 18.25 18.25 18.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 18.25 18.25 18.25 18.25 18.25 18.25 18.25 18.25 18.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 18.25 18.25 18.25 18.25 18.25 18.25 18.25 18.25 18.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 18.25 18.25 18.25 18.25 18.25 18.25 18.25 18.25 18.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 72.99 72.99 72.99 72.99 72.99 72.99 72.99 72.99 72.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 656.95 638.70 565.70 492.71 419.72 346.72 273.73 200.73 127.74 54.75 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 656.95 620.45 547.45 474.46 401.47 328.47 255.48 182.48 109.49 36.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 656.95 602.20 529.21 456.21 383.22 310.22 237.23 164.24 91.24 18.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 656.95 583.95 510.96 437.96 364.97 291.98 218.98 145.99 72.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 17.24 17.24 15.33 13.41 11.50 9.58 7.66 5.75 3.83 1.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 17.24 16.77 14.85 12.93 11.02 9.10 7.19 5.27 3.35 1.44 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 17.24 16.29 14.37 12.45 10.54 8.62 6.71 4.79 2.87 0.96 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 17.24 15.81 13.89 11.98 10.06 8.14 6.23 4.31 2.40 0.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 68.98 66.11 58.44 50.78 43.11 35.45 27.78 20.12 12.45 4.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PBT -114.33 -80.73 -27.22 27.82 84.46 94.79 154.97 217.08 281.24 347.57 357.09 398.60 442.72 489.58 539.37 592.25 648.42 708.08 771.43 838.71 910.14 985.98 1066.50 1151.99 1242.73 1339.05 1441.28 1549.79 1664.95 1787.16
Add: SLM Dep 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78 132.78
Less: WDV Dep 398.35 347.89 304.07 265.98 232.86 204.03 178.91 157.01 137.91 121.22 106.64 93.88 82.72 72.93 64.35 56.83 50.22 44.41 39.29 34.80 30.83 27.34 24.25 21.53 19.12 17.00 15.11 13.45 11.97 10.66
Income/Loss -379.90 -295.84 -198.50 -105.39 -15.61 23.55 108.84 192.85 276.12 359.13 383.23 437.51 492.79 549.43 607.80 668.21 730.99 796.46 864.92 936.69 1012.09 1091.43 1175.03 1263.24 1356.39 1454.83 1558.95 1669.12 1785.76 1909.28
Unabsorbed Loss -3284.03 -3663.93 -3959.77 -4158.27 -4263.66 -4279.27 -4255.73 -4146.88 -3954.03 -3677.91 -3318.78 -2935.55 -2498.04 -2005.25 -1455.82 -848.02 -179.81 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Taxable Income/Loss -3663.93 -3959.77 -4158.27 -4263.66 -4279.27 -4255.73 -4146.88 -3954.03 -3677.91 -3318.78 -2935.55 -2498.04 -2005.25 -1455.82 -848.02 -179.81 551.18 796.46 864.92 936.69 1012.09 1091.43 1175.03 1263.24 1356.39 1454.83 1558.95 1669.12 1785.76 1909.28
MAT 0.00 0.00 0.00 5.57 16.90 18.97 31.01 43.43 56.27 69.54 71.44 79.75 88.58 97.95 107.92 118.50 129.74 141.67 154.35 167.81 182.10 197.27 213.38 230.49 248.64 267.91 288.37 310.08 333.12 357.57
Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 178.83 258.41 280.62 303.91 328.37 354.11 381.24 409.86 440.08 472.02 505.80 541.55 579.39 619.46
Tax Applicable 0.00 0.00 0.00 5.57 16.90 18.97 31.01 43.43 56.27 69.54 71.44 79.75 88.58 97.95 107.92 118.50 178.83 258.41 280.62 303.91 328.37 354.11 381.24 409.86 440.08 472.02 505.80 541.55 579.39 619.46

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cash Inflows
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIDTA 287.68 310.43 334.63 360.36 387.73 367.68 398.61 431.49 466.44 503.58 493.90 535.84 580.40 627.73 678.02 731.43 788.16 848.40 912.38 980.32 1052.46 1129.05 1210.36 1296.68 1388.31 1485.57 1588.80 1698.37 1814.64 1938.04
Cash Outflows
Interest on LTL 266.06 254.98 225.41 195.85 166.29 136.73 107.16 77.60 48.04 18.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.17 3.40 3.65 3.91 4.19 3.38 3.69 4.02 4.37 4.75 4.04 4.45 4.90 5.37 5.86 6.39 6.95 7.54 8.17 8.83 9.54 10.28 11.07 11.91 12.80 13.74 14.74 15.80 16.92 18.10
Changes in Net CA 35.18 2.60 2.75 2.92 3.09 -9.01 3.47 3.68 3.90 4.14 -7.90 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Tax Paid 0.00 0.00 0.00 5.57 16.90 18.97 31.01 43.43 56.27 69.54 71.44 79.75 88.58 97.95 107.92 118.50 178.83 258.41 280.62 303.91 328.37 354.11 381.24 409.86 440.08 472.02 505.80 541.55 579.39 619.46
Net Cashflow 8.80 9.65 -204.08 -150.60 -101.18 -55.90 -44.62 0.40 50.03 101.30 154.30 420.40 450.47 485.69 523.11 562.86 605.08 600.83 580.81 621.85 665.73 712.59 762.58 815.85 872.58 932.96 997.20 1065.49 1138.09 1215.23 1297.18
Opening Cash 0.00 8.80 18.45 -185.63 -336.23 -437.41 -493.31 -537.93 -537.53 -487.50 -386.20 -231.90 188.50 638.97 1124.67 1647.77 2210.63 2815.71 3416.53 3997.34 4619.19 5284.92 5997.52 6760.09 7575.94 8448.53 9381.49 10378.69 11444.18 12582.27 13797.50
Closing Cash 8.80 18.45 -185.63 -336.23 -437.41 -493.31 -537.93 -537.53 -487.50 -386.20 -231.90 188.50 638.97 1124.67 1647.77 2210.63 2815.71 3416.53 3997.34 4619.19 5284.92 5997.52 6760.09 7575.94 8448.53 9381.49 10378.69 11444.18 12582.27 13797.50 15094.67

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Liabilities
Equity 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42 985.42
Reserves and Surplus -114.33 -195.07 -222.29 -200.04 -132.47 -56.64 67.32 240.97 465.94 743.97 1029.61 1348.47 1702.60 2094.23 2525.69 2999.45 3469.04 3918.71 4409.52 4944.32 5526.08 6157.95 6843.22 7585.34 8387.99 9255.02 10190.50 11198.74 12284.30 13451.99
Long Term Loan 2299.31 2043.83 1788.35 1532.87 1277.39 1021.92 766.44 510.96 255.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Assets
Gross Block 3275.93 3143.15 3010.37 2877.58 2744.80 2612.02 2479.24 2346.45 2213.67 2080.89 1948.11 1815.32 1682.54 1549.76 1416.97 1284.19 1151.41 1018.63 885.84 753.06 620.28 487.49 354.71 221.93 89.15 -43.64 -176.42 -309.20 -441.99 -574.77
Net Block 3143.15 3010.37 2877.58 2744.80 2612.02 2479.24 2346.45 2213.67 2080.89 1948.11 1815.32 1682.54 1549.76 1416.97 1284.19 1151.41 1018.63 885.84 753.06 620.28 487.49 354.71 221.93 89.15 -43.64 -176.42 -309.20 -441.99 -574.77 -707.55
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash & Bank 18.45 -185.63 -336.23 -437.41 -493.31 -537.93 -537.53 -487.50 -386.20 -231.90 188.50 638.97 1124.67 1647.77 2210.63 2815.71 3416.53 3997.34 4619.19 5284.92 5997.52 6760.09 7575.94 8448.53 9381.49 10378.69 11444.18 12582.27 13797.50 15094.67
Total Assets 3196.78 2862.52 2581.89 2350.85 2165.26 1978.85 1849.94 1770.88 1743.29 1768.94 2048.66 2371.00 2728.83 3124.37 3559.97 4038.12 4512.37 4966.97 5463.00 6003.34 6590.98 7229.06 7920.92 8670.03 9480.08 10354.95 11298.74 12315.79 13410.67 14588.25

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PAT -114.33 -80.73 -27.22 22.25 67.56 75.83 123.97 173.65 224.97 278.03 285.64 318.85 354.14 391.63 431.45 473.76 469.59 449.67 490.81 534.80 581.77 631.87 685.26 742.13 802.65 867.03 935.48 1008.24 1085.56 1167.69
Interest on LTL 179.74 172.25 152.28 132.31 112.34 92.37 72.39 52.42 32.45 12.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of LTL 0.00 255.48 255.48 255.48 255.48 255.48 255.48 255.48 255.48 255.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Change in CA 35.18 2.60 2.75 2.92 3.09 -9.01 3.47 3.68 3.90 4.14 -7.90 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Coverage 163.00 221.70 255.09 284.42 309.59 309.98 325.67 355.17 386.30 419.16 426.33 446.99 482.00 519.20 558.71 600.68 596.17 575.88 616.62 660.19 706.72 756.36 809.26 865.60 925.56 989.35 1057.18 1129.28 1205.90 1287.29
Debt Service 179.74 427.73 407.76 387.79 367.82 347.84 327.87 307.90 287.93 267.96 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSCR 0.91 0.52 0.63 0.73 0.84 0.89 0.99 1.15 1.34 1.56
Minimum DSCR 0.52
Average DSCR 0.92
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cumulative Cashflow -3284.73 -3121.73 -2900.03 -2644.94 -2360.52 -2050.93 -1740.94 -1415.27 -1060.10 -673.80 -254.64 171.69 618.68 1100.68 1619.88 2178.59 2779.27 3375.44 3951.32 4567.94 5228.13 5934.86 6691.22 7500.48 8366.07 9291.64 10280.99 11338.17 12467.46 13673.35 14960.64
Project IRR 11.38%
Equity Cash Inflow -16.74 -206.03 -152.67 -103.37 -58.23 -37.86 -2.20 47.27 98.37 151.20 426.33 446.99 482.00 519.20 558.71 600.68 596.17 575.88 616.62 660.19 706.72 756.36 809.26 865.60 925.56 989.35 1057.18 1129.28 1205.90 1287.29
Net Equity Cashflow -985.42 -16.74 -206.03 -152.67 -103.37 -58.23 -37.86 -2.20 47.27 98.37 151.20 426.33 446.99 482.00 519.20 558.71 600.68 596.17 575.88 616.62 660.19 706.72 756.36 809.26 865.60 925.56 989.35 1057.18 1129.28 1205.90 1287.29
Equity IRR 12.90%
Average ROCE 13.68%

Silo in Bhopal, Madhya
Pradesh
Feasibility Report
May 2013
Confidential
Silo in Bhopal, Madhya
Pradesh
Report_Bhopal.doc
22 May 2013
Feasibility Report
May 2013
Confidential
Setting up of Steel Grain Silo in Bhopal, Madhya Pradesh
Confidential
B 27/05/2013 RS MK SM Re-revised Feasibility Report based

Planning Commission
other parties

commissioned it.
Confidential
Content
1. Introduction 1
1.1 Report content _______________________________________________________________________ 1
3.3.2 Movement of grain in the proposed Silo facility at Bhopal ______________________________________ 9
4.4 Connectivity ________________________________________________________________________ 11

5.3 Mandi Arrivals _______________________________________________________________________ 14
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5.4 Procurement ________________________________________________________________________ 14

6.2 Storage Gap Assessment in Bhopal District _______________________________________________ 14

7.1 Project Cost ________________________________________________________________________ 14
7.1.6 Contingencies _______________________________________________________________________ 14
7.2 Means of Finance ____________________________________________________________________ 14

8.1 Assumptions ________________________________________________________________________ 14
8.1.2.2 Operating Days______________________________________________________________________ 14
8.1.4.1 Power Cost _________________________________________________________________________ 14
8.1.4.2 Manpower Cost______________________________________________________________________ 14
8.1.4.4 Fumigation Cost _____________________________________________________________________ 14
8.1.4.6 Insurance Cost ______________________________________________________________________ 14
8.1.4.8 Depreciation ________________________________________________________________________ 14
8.1.4.9 Taxation ___________________________________________________________________________ 14
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9.1 Change in Capex ____________________________________________________________________ 14
9.3 Change in Opex _____________________________________________________________________ 14
F.1. Buhler _____________________________________________________________________________ 14
F.2. Scafco _____________________________________________________________________________ 14
F.3. Agrosaw ___________________________________________________________________________ 14
Tables
Table 5.3: Wheat Production in Bhopal (2003-04 to 2011-12) __________________________________________ 14
Table 5.5: Mandi Arrivals in Bhopal (2002-03 to 2012-13) _____________________________________________ 14
Table 5.7: Procurement of Wheat in Bhopal (2003-04 to 2012-13) ______________________________________ 14
Table 6.4: Storage Facilities in Bhopal (as on 28-09-2012) ____________________________________________ 14

Confidential

Table 8.9: Tax Rates __________________________________________________________________________ 14
Figures
Figure 5.3: Wheat Production in Bhopal (2002-03 to 2012-13*) _________________________________________ 14
Figure 5.5: Mandi Arrivals of Wheat in Bhopal (2002-03 to 2012-13) _____________________________________ 14
Figure 5.7: Wheat Procurement in Bhopal (2003-04 to 2012-13) ________________________________________ 14
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Executive Summary
capacity of 50,000 MT has been considered at the proposed site in Bhopal. This facility would have 4 bins,
Mugaliya Khurd village having an area of about 7 acres (following map). The proposed site is about 7 KM
far from the nearest rail head. The 5.50 KM stretch of Pradhan Mantri Gram Sadak Yojna (PMGSY) road
from the rail head will connect to the site. Approach road of about 1.50 KM is required to be built, giving the
site an advantage in rail connectivity. The procurement centres are within the range of 20 kms of the site
and have a total procurement capacity of about 70,000 MT of wheat.
Proposed Site, Village: Mugaliya

Khurd
years in Madhya Pradesh. The same trend is noted in the Bhopal district as well.
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Contingency 150.04
Margin Money 8.73
tabulated as:

Equity 1018.60 30.00%
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Revenue Assumptions
Revenues (2013)

Equity IRR 12.39% -
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Base
(INR lakhs) 3395.34 3055.80 2716.27 2546.50 2376.73 2206.97 2037.20
Project IRR 11.04% 12.08% 13.32% 14.03% 14.83% 15.74% 16.79%
Equity IRR 12.39% 14.01% 16.07% 17.35% 18.87% 20.75% 23.12%
DSCR 0.88 0.98 1.09 1.16 1.24 1.33 1.43
Source: MM Analysis
required.
Project IRR 11.04% 10.43% 9.75% 9.39% 8.55% 8.08%
Equity IRR 12.39% 11.58% 10.65% 10.16% 9.00% 8.36%
DSCR 0.88 0.88 0.88 0.88 0.88 0.88
Payback Period 10.92 11.05 11.24 11.36 11.71 11.98

0% 10% 20% 25% 30% 35% 40%
after 10 years
90% 11.58% 13.18% 15.23% 16.51% 18.05% 19.94% 22.33%
80% 10.65% 12.25% 14.30% 15.58% 17.12% 19.02% 21.43%
75% 10.16% 11.72% 13.77% 15.06% 16.61% 18.53% 20.96%
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60% 8.36% 9.90% 11.94% 13.23% 14.80% 16.74% 19.21%
20%.
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1. Introduction


This is the Feasibility Report of the Silo Project for Bhopal for the
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heads:



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years.
! "
! "
facility at Bhopal would be 50,000 MT. It is proposed that the facility will

# " $ %

process
• Land allotment




monitored Silos.

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320162/MCB/ISA/AA/01 22 May 2013

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! & '


18 months.



! (

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also available.

!! " ( "



Source: MM Research
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equipment.
!! % % "

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Depot Bagging
Debagging

Storage
Despatch – Chain
Conveyor, Bucket
Dispatch


storage point
godowns for storage
for issue to PDS
Source: MM Analysis
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!! ) % " *
facility.

Mechanized Receipts
Wheat - Farmers
Weighing
Storage
Dispatch – Chain
Conveyor, Bucket
Trucks for Further
Dispatch Bagging
Source: MM Analysis

as an Annexure G.
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# +
Bhopal is one of locations for the proposed Silo facilities in Madhya

MT capacity is located in the Mugaliya Khurd village on an area of
about 7 acres. The detailed address of the site is as follows:
Patwari Halka No. 15, Khasra No. 70, Village Mugaliya Khurd, Bhopal,
Madhya Pradesh.

below:
Proposed Site, Village: Mugaliya

Khurd
# ' " ' , '% - %
The proposed site land of 7 acres in Mugaliya Khurd village is yet to be

allotted to MPWLC. The documents pertaining to the land
premises.
#! .
MW. As informed by the MPWLC branch manager, Mr. Vasudev
Davande (Branch Manager), the electricity to the proposed site can be
easily made available from nearest transformer at Mugaliya village
within 1 Km from the site. However, the transformer is required at the
project site for further connectivity to the silo facility.
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at the site.
##

The Branch Manager of MPWLC at Bhopal, Mr. Vasudev Davande has

also in place. The rail head is connected by 5.50 km stretch of Pradhan
the site an advantage in rail connectivity. However, 1.50 km stretch of
approach road is required to connect to the PMGSY road connecting
rail head.
Also, the state highway (Bhopal – Vidisha Highway), is approximately 4

kms from the location. The PMGSY road (single lane) connects the site
to the Bhopal – Vidisha Highway road upto 2.50 kms. The distance from
proposed site boundary to PMGSY road is 1.50 km where no
connectivity is available. The developer needs to consider any
development / augmentation as may be required in the approach road
within his project costs and accordingly the developer is advised to visit
the site and assess the local conditions and accessibility and use his
technical knowledge in the matter.

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Chopda
Procurement Eitkhedi
Centres within 20
kms radius of Silo Karond Mandi
Raipur
Godarmau
Parvaliya
Rail Head / NH
5.50 kms PMGSY Road 2.50 Kms
Ends 1km from Site

1.50 Km – No connectivity
Transportation
Source: MM Analysis
procurement centres which are in 20 kms range of the proposed site
are tabulated below:

Chopda Karond Mandi Godarmau
Eitkhedi Raipur Parvaliya
Source: MPWLC
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/ 0 "'

below:
State Farmers Field

Production

Markfed

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Source: MM Analysis


location.
/ 0 '
/ " + "


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(%) (%)
2002-03 3381 4923 1456 -
2003-04 4091 7365 1800 49.60% 23.6
2004-05 4200 7327 1745 -0.52% -3.1
2005-06 3785 6200 1638 -15.38% -6.1
2006-07 4275 7848 1836 26.58% 12.1
2007-08 4101 6737 1643 -14.16% -10.5
2008-09 4010 7280 1815 8.06% 10.5
2009-10 4471 8873 1985 21.88% 9.3
2010-11 4645 9227 1986 3.99% 0.1
2011-12 4901 12703 2592 37.67% 30.5
2012-13 5434 16104 2964 26.77% 14.3

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18
16.1
16
14
Production (in MMT)
12.7
12
10 8.9 9.2
7.4 7.8
7.3
8 6.2 6.7 7.3
6
4
2
0
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year


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• 2009-10: 10.62%
• 2011-12: 18.69%
• 2012-13: 14.28%
crops:

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• Seed treatment
• Weed control


the soil

increase

of INR 150/quintal.

2012-13.


Pradesh:
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(In Lakh Ha)
2000-01 7.36 -
2001-02 9.40 27.72%
2002-03 7.69 -18.19%
2003-04 10.07 30.95%
2004-05 10.35 2.78%
2005-06 10.13 -2.13%
2006-07 9.37 -7.50%
2007-08 9.48 1.17%
2008-09 9.71 2.43%
2009-10 8.87 -8.65%
2010-11 9.76 10.03%
2011-12 16.34 67.42%
2012-13 20.21 23.66%

below.
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connection.
/ + "
The wheat production of Bhopal district for the last 10 years is as

tabulated below.
Table 5.3: Wheat Production in Bhopal (2003-04 to 2011-12)

2002-03 0.088
2003-04 0.108
2004-05 0.135
2005-06 0.115
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2006-07 0.000
2007-08 0.120
2008-09 0.127
2009-10 0.147
2010-11 0.128
2011-12 0.304
2012-13* (proj.) 0.349
The following graph depicts the trend in wheat production in Bhopal
Figure 5.3: Wheat Production in Bhopal (2002-03 to 2012-13*)
0.4
0.35 0.35
0.3 0.30
Production (in MMT)
0.25
0.2
0.15 0.14 0.12 0.13 0.15

0.11 0.12 0.13
0.1 0.09
0.05
0
2002-03 2003-04 2004-05 2005-06 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13*
Year

The short term (2008-09 to 2012-13) CAGR for Bhopal district is about
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term (2003-04 to 2012-13) CAGR is about 13.90% which indicates that
in the long run the growth has been moderate as compared to the
growth rate in the recent years. However, it can be observed from the
year on year trend of production in Bhopal that the production has
suddenly increased from year 2008-09 onwards.

/! )

/! " + "

2003-04 2.456 18.10%
2004-05 3.809 55.07%
2005-06 3.136 -17.67%
2006-07 3.037 -3.13%
2007-08 4.769 57.02%
2008-09 4.990 4.62%
2009-10 4.355 -12.72%
2010-11 6.098 40.02%
2011-12 8.234 35.03%
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2012-13 9.883 20.03%

2003-04 to 2012-13.

12.00
9.88
10.00
8.23
8.00
6.10
6.00
4.77 4.99
4.36
3.81
4.00 2.46 3.14 3.04
2.00
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
/! + "
The Mandi Arrivals of Bhopal district for the last 10 years is as tabulated
below
Table 5.5: Mandi Arrivals in Bhopal (2002-03 to 2012-13)

2002-03 0.020 -
2003-04 0.023 15.88%
2004-05 0.053 126.75%
2005-06 0.048 -8.75%
2006-07 0.088 82.94%
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2007-08 0.086 -2.38%
2008-09 0.051 -40.59%
2009-10 0.053 3.63%
2010-11 0.141 165.03%
2011-12 0.179 27.06%
2012-13 0.262 46.39%
The short term CAGR (2008-09 to 2012-13) for Bhopal district is about
wise Mandi Arrivals for Bhopal district for period 2002-03 to 2012-13.
Figure 5.5: Mandi Arrivals of Wheat in Bhopal (2002-03 to 2012-13)
0.3
0.262
0.25
0.2 0.179
0.15
0.141
0.088
0.1 0.086
0.053
0.05 0.051 0.053
0.023 0.048
0 0.02
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Bhopal district have increased steeply over the last 4 years.
District wise mandi arrivals in Madhya Pradesh are enclosed as

Appendix C.
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/# ' %

/# " + "


MMT)
2003-04 0.200 -44.50%
2004-05 0.349 74.34%
2005-06 0.484 38.77%
2006-07 0.000 -
2007-08 0.057 -88.12%
2008-09 2.410 4092.61%
2009-10 1.967 -18.37%
2010-11 3.538 79.83%
2011-12 4.965 40.35%
2012-13 8.508 71.35%
Source: MPSCSCL

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9
8.508
8
7
5 4.965
4
3.538
3
2.41 1.967
2
1 0.2 0.484
0.349 0.057
0
0
2006-07
2003-04
2004-05
2005-06
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
/# + "

procurement by State Agencies in Bhopal district for the last 10 years is
as tabulated below.
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Table 5.7: Procurement of Wheat in Bhopal (2003-04 to 2012-13)

2002-03 0.002
2003-04 0.000
2004-05 0.011
2005-06 0.012
2006-07 0.000
2007-08 0.004
2008-09 0.044
2009-10 0.027
2010-11 0.092
2011-12 0.117
2012-13 0.242
Source: MPSCSCL


the State agencies in the Bhopal district is about 53.50% which shows
procurement in Bhopal district over the period 2003-04 to 2012-13
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Figure 5.7: Wheat Procurement in Bhopal (2003-04 to 2012-13)

0.300
0.250
0.242
0.200
0.150 0.117
0.092
0.100
0.027
0.050 0.044
0.002 0.011 0.012
0.000 0.000 0.004
0.000
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
// "'%% 0 "

following table.

State Bhopal State Bhopal State Bhopal
2002-03 4.923 0.088 - 0.020 - 0.002
2003-04 7.365 0.108 2.456 0.023 0.200 0.000
2004-05 7.327 0.135 3.809 0.053 0.349 0.011
2005-06 6.200 0.115 3.136 0.048 0.484 0.012
2006-07 7.848 0.000 3.037 0.088 0.000 0.000
2007-08 6.737 0.120 4.769 0.086 0.057 0.004
2008-09 7.280 0.127 4.990 0.051 2.410 0.044
2009-10 8.873 0.147 4.355 0.053 1.967 0.027
2010-11 9.227 0.128 6.098 0.141 3.538 0.092
2011-12 12.703 0.304 8.234 0.179 4.965 0.117
2012-13 16.104 0.349 9.883 0.262 1.469 0.242
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These are:
Corporations


Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
MPWLC 10.47 10.97 11.29 11.47 11.61 11.66 11.86
CWC 4.52 4.52 4.56 4.56 4.56 4.56 4.56
MARKFED 5.06 5.06 5.29 5.29 5.43 5.43 5.43
FCI 3.29 3.29 3.29 3.29 3.29 3.29 3.29
MANDI BOARD 2.57 2.57 2.62 2.62 2.62 2.62 2.62
CO-OPERATIVE SO. 4.63 4.63 4.63 4.63 4.63 4.63 4.63
LVS 2.92 2.92 4.00 4.00 4.00 4.00 4.00
OILFED 2.07 2.07 2.07 2.07 2.07 2.07 2.07
M.P.AGRO 0.31 0.31 0.31 0.31 0.31 0.31 0.31
NAFED 0.15 0.15 0.15 0.15 0.15 0.15 0.15
godon scheme) 18.64 26.23 33.51 39.56 44.90 53.13 69.08
RIDF MPWLC - - - - - - -
PEG godown (Prt.) - - - - - - -
PIG (SILO) - - - - - - -
MPWLC (SILO) - - - - - - -
PACAKAGE - - - - - - -
IAP - - - - - - -
Total 54.63 62.72 71.72 77.95 83.57 91.85 108.00
capacity (%) 14.81% 14.35% 8.69% 7.21% 9.91% 17.58%
Source: MPWLC
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(in Lakh Tonnes)
of 2014-15
MPWLC 6.23 18.09
CWC 1.30 5.86
MARKFED - 5.43
FCI - 3.29
MANDI BOARD - 2.62
LVS - 4.00
OILFED - 2.07
M.P.AGRO - 0.31
NAFED - 0.15
PIG (SILO) 3.50 3.50
PACAKAGE 6.50 6.50
IAP 1.80 1.80
(Early Bird) 15.00 15.00
Total 61.18 169.18
Source: MPWLC

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tabulated below:

Agency 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Name 2014-15
MPWLC 19% 17% 16% 15% 14% 13% 11% 21% 27%
CWC 8% 7% 6% 6% 5% 5% 4% 4% 3%
MARKFED 9% 8% 7% 7% 6% 6% 5% 4% 3%
FCI 6% 5% 5% 4% 4% 4% 3% 2% 2%
MANDI
BOARD 5% 4% 4% 3% 3% 3% 2% 2% 2%
Co-Op. Soc. 8% 7% 6% 6% 6% 5% 4% 3% 3%
Private 34% 42% 47% 51% 54% 58% 64% 55% 50%
Others 10% 9% 9% 8% 8% 7% 6% 9% 11%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Source: MPWLC
Agency wise present storage facilities in the district of Bhopal are

tabulated below.
Table 6.4: Storage Facilities in Bhopal (as on 28-09-2012)

(in MT)
1 WLC 5300
2 FCI 25000
3 CWC 45740
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(in MT)
4 Markfed 27000
5 Olifed 0
6 Private 41537
7 Mandi Board 1700
Total 154587
Source: MPWLC
1 " $ % *

Bhopal.

production in Bhopal about 75% of the wheat was traded at mandis.




2011-12 (actual) 304200 178733 154587 24146
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2012-13 349106 261643 181768 79875
2013-14 397633 298013 233252 64760
2014-15 452906 339438 284736 54702
2015-16 515863 386621 284736 101885
2016-17 587570 440364 284736 155627
2017-18 669245 501576 284736 216840
2018-19 702707 526655 284736 241919
2019-20 737843 552988 284736 268252
2020-21 774735 580637 284736 295901
2021-22 813472 609669 284736 324933
2022-23 854145 640152 284736 355416
2023-24 879001 658781 284736 374045
2024-25 904580 677951 284736 393215
2025-26 930903 697680 284736 412944
2026-27 957992 717982 284736 433246
2027-28 985870 738876 284736 454139
2028-29 1014559 760377 284736 475641
2029-30 1044082 782504 284736 497768
2030-31 1074465 805275 284736 520538
2031-32 1105732 828708 284736 543972
2032-33 1137909 852824 284736 568087
Source: MM Analysis
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Land 0.70
Contingency 150.04
Margin Money 8.73
2 + + %

table below.

Quantity
Land 7.00 0.00 0.00
Cost 0.70
2 *' 0
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Cu.m 8400 11000 924.00
Grade - M30)
External Approach Road (CC Road - 16 mtr wide) Kms 1.50 20000000 300.00
Sqm 2266 3000 67.98
concrete paved area
Sqm 1000 2500 25.00
coat
Sqm 500 2000 10.00
water
2 ! )
MT each.

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imported 580.63 884.72 975.17
844.00 884.72 1103.31
Import Duty 10% 58.06 88.47 97.52
CST 2.0% 5.27 0.00 2.56
Inland Freight 3.0% 17.42 26.54 29.26
Total P & M Cost *966.95 1043.97 1287.81


Savings due
Aeration System 54066 2973630 0% 2973630 0%
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Savings due
Centrifugal Fan 30686 1687752 30% 1181426 30%
Others 4048 222662 0% 222662 0%
4 Roof Exhausters 19879 1093323 0% 1093323 0%
7 (Wheat)**
Sweep Auger 33054 1817992 30% 1272594 30%
Others 6867 377663 0% 377663 0%
4 95450 5249764 25% 3937323 25%
TPH Wheat 67100 3690484 30% 2583338 30%
Dust Silo DB1 -63.3m3 14896 819253 30% 573477 30%
E2 78962 4342883 35% 2822874 35%
Others 24142 1327818 35% 863082 35%
Total 1675840 92171222 84399633
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Savings due
CST 2.0% 526730

2 # 3 , ' % .

Other Utilities
DG sets Nos. 2 2000000 40.00
- connection cost
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Other Utilities
process flow
Utilities
2 / %


2 1

2 2 ) ) 0

assumptions:
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Debtors 1 -
Stores & Spares 3 -
Bank Finance 75%

Lakhs.
2 ) 4



Lakhs) TPC)
Equity 1018.60 30.00%

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5 '%

5 * '%
concession period
5 '%

year.


Rate of Basis
Escalation
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Rate of Basis
Escalation

2011-2012 156.13
2010-2011 143.32
2009-2010 130.81
2008-2009 126.02
2007-2008 116.63
2006-2007 111.35
2005-2006 104.47
CAGR 5.91%
5 ! ' '%

Charge.


Revenues (2013)
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Revenues (2013)

Concession.


been considered.
5 # '%

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8.1.4.1 Power Cost


Load Factor 21%

table below:

Cost Total Cost
Manpower Category
Clerks 1 144000 1.44
Peons 2 72000 1.44
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Rs./quintal 2.00
weighment
Rs./quintal 3.00
bags
Source: MM Analysis

India.


Duration Unit Value
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below:

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8.1.4.9 Taxation


Tax Rates Rates
Income Tax 32.45%
MAT 20.01%
same.
5 / 4

ROCE.

Equity IRR 12.39% -
DSCR 0.88 Times
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6 7


Change in Capex 0% 5% 10% -5% -10%
Project IRR 11.04% 10.56% 10.10% 11.54% 12.12%
Equity IRR 12.39% 11.69% 11.04% 13.14% 14.02%
DSCR 0.88 0.83 0.78 0.93 1.00
Source: MM Analysis

in the above table.
6 '


Project IRR 11.04% 12.46% 13.91% 9.57% 8.04%
Equity IRR 12.39% 14.58% 16.97% 10.29% 8.24%
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DSCR 0.88 1.04 1.21 0.72 0.56
Source: MM Analysis

each other.


Equity IRR 12.39% 8.98%
DSCR 0.88 0.62
Source: MM Analysis

6! 7
follows:

Change in Opex 0% 5% 10% -5% -10%
Project IRR 11.04% 10.71% 10.40% 11.35% 11.66%
Equity IRR 12.39% 11.91% 11.46% 12.87% 13.34%
DSCR 0.88 0.84 0.80 0.92 0.95
Source: MM Analysis
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6# 8$4
are tabulated as:

Base
(INR lakhs) 3395.34 3055.80 2716.27 2546.50 2376.73 2206.97 2037.20
Project IRR 11.04% 12.08% 13.32% 14.03% 14.83% 15.74% 16.79%
Equity IRR 12.39% 14.01% 16.07% 17.35% 18.87% 20.75% 23.12%
DSCR 0.88 0.98 1.09 1.16 1.24 1.33 1.43
Source: MM Analysis

below:

Base
(INR lakhs) 3393.68 3054.31 2714.94 2545.26 2375.58 2205.89 2036.21
Project IRR 8.61% 9.50% 10.55% 11.15% 11.82% 12.56% 13.40%
Equity IRR 8.98% 10.20% 11.71% 12.62% 13.66% 14.89% 16.37%
DSCR 0.62 0.70 0.79 0.84 0.90 0.97 1.04
Source: MM Analysis
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6/ . 9 4 : 8$4 3;'

0% 10% 20% 25% 30% 35% 40%
100% 12.39% 14.01% 16.07% 17.35% 18.87% 20.75% 23.12%
90% 11.58% 13.18% 15.23% 16.51% 18.05% 19.94% 22.33%
80% 10.65% 12.25% 14.30% 15.58% 17.12% 19.02% 21.43%
after 10 years
70% 10.16% 11.72% 13.77% 15.06% 16.61% 18.53% 20.96%
60% 8.36% 9.90% 11.94% 13.23% 14.80% 16.74% 19.21%
Source: MM Analysis
' : %% :
equity. But the DSCR for the project is less than 1.00. Hence, to
GoI.
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available, then more than 40% of VGF is required to achieve the DSCR
of 1.20 times.
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
1 Jabalpur 154.6 156.3 184.0 N.A. 126.6 171.5 158.6 280.5 284.9
2 Katni 86.6 75.4 70.9 N.A. 39.6 74.3 70.8 59.0 96.7
3 Balaghat 17.4 7.9 22.1 N.A. 13.2 12.3 19.5 22.9 29.8
4 Chhindwara 170.2 145.6 144.1 N.A. 223.4 175.2 425.2 388.9 748.4
5 Seoni 93.1 77.7 88.8 N.A. 93.4 90.1 90.5 102.1 127.5
6 Mandla 26.8 26.6 28.5 N.A. 25.3 26.6 23.0 16.7 17.6
7 Dindori 21.9 24.0 18.4 N.A. 14.9 19.4 19.1 16.0 33.7
8 Narsinghpur 181.7 168.9 172.6 N.A. 157.5 189.7 169.4 226.9 253.2
9 Sagar 183.7 173.1 176.4 N.A. 131.8 188.2 244.5 186.5 295.1
10 Damoh 96.6 97.8 102.1 N.A. 99.8 131.8 136.3 171.4 197.0
11 Panna 78.9 76.7 74.9 N.A. 53.2 88.3 97.1 89.1 103.7
12 Tikamgarh 250.3 174.8 79.0 N.A. 28.0 209.2 168.3 99.0 241.5
13 Chhatarpur 249.6 243.7 180.5 N.A. 60.1 195.8 203.9 169.1 199.5
14 Rewa 204.4 181.1 170.8 N.A. 99.3 165.3 158.0 111.3 215.4
15 Sidhi 76.6 67.2 64.1 N.A. 54.7 47.0 45.4 38.1 67.4
16 Singroli 0.0 0.0 0.0 N.A. 0.0 28.9 35.0 35.1 60.9
17 Satna 197.7 173.9 184.3 N.A. 88.5 147.8 173.1 119.1 202.2
18 Shahdol 16.6 16.4 17.2 N.A. 18.0 20.7 16.9 17.1 33.3
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
19 Anuppur 10.2 9.0 10.2 N.A. 8.2 9.1 8.8 7.0 17.4
20 Umaria 23.1 20.8 21.9 N.A. 18.6 22.7 20.5 19.9 28.6
21 Indore 287.2 304.9 88.7 N.A. 244.3 134.4 220.1 271.3 252.7
22 Dhar 350.7 341.4 138.1 N.A. 500.0 298.8 354.9 453.5 379.5
23 Jhabua 53.7 56.6 49.0 N.A. 77.3 33.6 44.6 51.6 63.5
24 Khargone 149.2 126.9 57.9 N.A. 181.8 98.5 224.9 276.6 340.0
25 Barwani 61.2 50.0 18.0 N.A. 51.9 62.1 49.1 83.1 114.9
26 Khandwa 88.1 73.5 88.8 N.A. 107.9 115.6 120.1 154.8 211.1
27 Burhanpur 17.5 16.7 16.5 N.A. 19.9 20.2 19.4 24.8 31.7
28 Alirajpur 0.0 0.0 0.0 N.A. 0.0 25.3 24.8 28.6 32.9
29 Ujjain 223.4 345.6 114.1 N.A. 341.1 184.3 318.6 237.8 375.0
30 Mandsaur 57.5 134.4 51.1 N.A. 131.2 126.6 156.9 122.7 229.3
31 Neemuch 49.0 74.4 63.2 N.A. 59.0 74.9 61.8 92.1 101.5
32 Ratlam 182.4 203.8 138.0 N.A. 228.9 196.4 218.3 276.8 309.4
33 Dewas 218.8 225.4 89.1 N.A. 215.0 211.0 247.9 247.5 375.0
34 Shajapur 148.3 180.2 68.2 N.A. 164.9 134.8 221.4 182.1 297.7
35 Morena 210.4 207.3 220.7 N.A. 159.8 184.8 179.8 221.8 222.7
36 Sheopur Kalan 109.4 78.7 90.9 N.A. 93.4 94.3 144.0 173.5 191.2
37 Bhind 151.0 133.3 142.2 N.A. 102.5 177.9 214.2 185.2 163.3
38 Gwalior 274.3 236.3 244.9 N.A. 111.4 229.1 189.9 254.0 346.8
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
39 Shivpuri 262.4 216.5 225.5 N.A. 110.1 224.0 250.4 298.1 247.8
40 Guna 106.0 103.2 124.9 N.A. 119.4 143.4 127.4 187.9 243.1
41 Ashoknagar 123.8 120.4 138.8 N.A. 119.9 148.0 173.0 193.0 233.2
42 Datia 180.9 139.1 148.5 N.A. 151.8 229.4 290.8 260.2 346.1
43 Bhopal 108.2 135.4 115.2 N.A. 120.1 126.7 147.1 127.5 304.2
44 Sehore 346.8 364.9 233.4 N.A. 189.0 226.9 401.1 327.2 666.8
45 Raisen 277.1 279.3 311.9 N.A. 203.9 266.9 376.5 278.4 622.0
46 Vidisha 332.9 335.2 310.8 N.A. 202.4 259.6 370.4 341.6 402.1
47 Rajgarh 102.7 102.6 45.9 N.A. 103.7 85.8 145.3 140.4 282.2
48 Hoshangabad 439.3 449.7 429.0 N.A. 698.6 607.4 700.1 854.0 1135.4
49 Harda 179.8 238.6 231.1 N.A. 153.4 168.0 181.6 560.7 639.9
50 Betul 125.2 128.8 145.1 N.A. 412.6 369.6 407.0 137.3 281.0
Non Reported 7.4 7.4 7.4 N.A. 7.4 7.4 7.4 7.4 7.4
State 7364.6 7327.4 5957.7 N.A. 6736.7 7279.6 8872.7 9227.2 12703.2
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Betul 11705 33047 17573 24948 25727 60251 29725 91862 69513 82268
2 Bhopal 23330 52900 48271 88307 86209 51215 53075 140663 178733 261643
3 Harda 132375 204832 114803 216925 260224 353681 255571 312373 453863 464200
4 Hoshangabad 344708 385572 302337 406767 479281 673887 509486 611476 847351 998493
5 Raisen 84321 177899 152421 87284 100889 135917 109270 260513 375758 512195
6 Rajgarh 37711 89686 78828 40666 130838 90279 59194 153371 208688 283189
7 Sehore 123628 222887 143336 121465 207610 215006 135712 296672 436969 506010
8 Vidisha 122584 167179 150908 119927 155679 125710 116095 240269 339373 423289
9 Alirajpur 12442 14057 12297 13577 20107 14294 18725 9694 10760 7135
10 Badwani 9086 11844 17750 20196 38373 29988 14448 17987 31118 41086
11 Burhanpur 1855 6501 2583 2817 7682 21271 9732 6329 12024 11188
12 Dhar 104407 219042 196744 153720 325773 278790 162089 199203 286591 298197
13 Indore 112082 208151 128666 44632 251835 215229 112581 170223 294535 269210
14 Jhabua 41476 48576 50107 48308 39728 56452 43338 42259 40450 43882
15 Khandwa 34820 30607 35613 50319 129600 86217 79436 90299 133707 156492
16 Khargone 35866 46224 47050 36621 83425 155965 70716 120286 174343 196079
17 Dewas 53984 153601 115988 80333 189630 214748 141619 165153 341695 334456
18 Mandsour 6786 8886 44342 17803 109211 85025 55050 123018 86674 159112
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Neemuch 27268 19787 49228 86585 145758 161547 52124 80706 124328 125768
20 Ratlam 15372 42243 54049 32494 130094 151022 44831 86886 107144 164427
21 Shajapur 55421 108925 100211 87388 167407 124488 47914 138299 156052 239204
22 Ujjain 31422 118074 98759 45592 263189 300612 66342 180354 267268 400991
23 Ashoknagar 42132 71283 52754 36039 55296 49887 75525 96073 157955 152912
24 Bhind 34845 29881 10414 27080 43932 54215 73065 60686 99864 118580
25 Datia 68588 60124 25017 35504 87779 87198 126988 150860 223675 180537
26 Guna 30946 33730 47906 51985 92878 73050 97148 116420 192514 183988
27 Gwalior 59913 103706 43118 65472 83866 96615 150230 158083 198436 160763
28 Morena 63170 58806 16922 58213 68537 73410 77496 102659 146344 154475
29 Sheopur 37378 35309 34709 54477 74462 101207 71538 85716 159288 223454
30 Shivpuri 56264 81244 56203 59209 78491 49325 149263 152919 201982 280208
31 Chhatarpur 41664 105645 107418 53470 30836 7070 177835 145627 165158 281249
32 Damoh 29471 55343 58940 67725 69246 47998 60202 97265 99459 126435
33 Panna 12497 9676 7582 5566 3882 3213 11666 16551 20589 62809
34 Sagar 93376 152353 180426 128469 128008 56100 140563 214801 287510 321752
35 Tikamgarh 89289 157514 101735 59118 50941 21156 237595 213731 244239 437649
36 Balaghat 7556 19305 6405 15909 14245 14472 6346 6275 3798 7381
37 Chhindwara 26599 38173 57271 63252 62730 78111 43700 133300 135756 126418
38 Dindori 4274 11310 10108 6972 9019 8036 9425 12283 12497 12867
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Jabalpur 73976 82071 80481 90649 119138 154398 186683 207845 291626 343276
40 Katni 49833 66539 48528 68326 59973 86510 75646 77825 88290 82344
41 Mandla 8045 11052 12832 9963 16548 19530 27957 33109 33792 45530
42 Narsingpur 42732 42512 29574 40532 38570 50178 60860 82020 111196 0
43 Seoni 33773 48691 34368 55429 67705 101939 63788 140766 170468 216564
44 Anuppur 208 383 476 393 393 492 801 783 842 2621
45 Rewa 35042 31824 41844 45459 53464 39244 74142 61620 48792 105800
46 Satna 63187 87050 47976 57982 52795 77105 109618 105022 112828 208733
47 Shahdol 10750 14849 19580 17056 18877 16674 9252 14546 12165 14500
48 Sidhi 8357 16862 33136 28885 27247 11515 32221 56377 15628 34199
49 Singrauli 0 0 0 0 0 0 0 0 2118 0
50 Umaria 9590 12971 7979 7472 12116 9369 18467 17105 20350 19781
State 2456104 3808726 3135566 3037280 4769243 4989611 4355093 6098162 8234096 9883339
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Bhopal 0 10609 12147 0 3570 43514 27309 92288 117085 241604
2 Sehore 6784 16051 27029 0 1201 105958 67656 194513 233992 415721
3 Raisen 39465 63704 86632 0 8061 86630 126478 210127 326778 511572
4 Biora 0 759 2806 0 56
5 Vidisha 238 2136 7319 0 144 23069 18627 78738 135170 325127
6 Betul 22 67 86 0 24 34715 20099 64831 61269 98933
7 H'bad 53874 72520 118770 0 13768 412263 405542 545052 731102 950528
8 Harda 11330 24530 70266 0 8134 238665 241879 314298 467133 539855
9 Indore 0 521 7108 0 184 87351 8015 72003 128350 217551
10 Jhabua 0 0 143 0 0 26815 1777 9367 13474 26130
11 Dhar 0 0 3387 0 1857 75700 22698 90671 168561 230253
12 Khargone 0 0 514 0 0 68794 12026 78161 113088 169401
13 Badwani 0 0 10 0 0 16473 3894 10147 25133 40742
14 Khandwa 12 0 99 0 0 26669 21257 57594 104552 178217
15 Burhanpur 0 0 4 0 0 18202 7397 4000 7644 7627
16 Ujjain 0 688 34349 0 2730 206768 5307 119511 179529 361380
17 Dewas 0 2768 8191 0 500 81172 21821 109036 166466 280488
18 Ratlam 0 0 4975 0 1831 83027 5005 29095 43034 107223
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Mandsour 0 0 934 0 480 28808 4854 33626 32973 90745
20 Neemuch 0 0 551 0 781 26092 5086 5052 18979 42972
21 Shajapur 0 7395 14243 0 71 57561 6886 105037 124028 248057
22 Sagar 3530 8569 4860 0 5 19469 53347 94877 110468 235440
23 Damoh 2029 2513 3063 0 34 21697 39649 60080 65530 133253
24 Panna 1005 1509 1781 0 0 828 7268 12416 19206 58346
25 Chhatarpur 17567 29499 10821 0 0 1778 53541 73003 83528 179432
26 Tikamgarh 12743 32597 12214 0 0 5441 93770 66945 65510 164710
27 Jabalpur 2583 1055 557 0 0 61942 86825 74788 139750 266974
28 Chhindwara 0 50 0 0 82 26828 13963 71721 85161 139291
29 Balaghat 0 0 0 0 0 3158 2503 1989 2740 3766
30 Mandla 337 362 244 0 73 9929 11006 16952 21467 36394
31 Dindori 0 0 0 0 0 42 275 650 1110 3685
32 Seoni 120 1734 2046 0 36 58649 30021 79410 109087 195877
33 Narsingpur 4496 6805 3503 0 168 36001 42912 68803 112711 156303
34 Katni 1952 1950 1174 0 2 18231 16098 28003 44258 95532
35 Rewa 720 831 363 0 68 11366 23585 21877 25596 98206
36 Sidhi 5301 5728 1195 0 2 9207 7680 7181 8223 20629
37 Satna 24595 1186 1025 0 0 17586 45944 44592 43189 126429
38 Shahdole 1485 2461 1444 0 0 4024 7932 8830 11088 18013
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Anoop Pur 0 0 9 0 0 36 199 205 318 1919
40 Umaria 2014 2647 2064 0 315 3132 6940 7353 8601 20157
41 Gwalior 1788 8646 7294 0 9 66380 64817 61344 103458 171078
42 Datia 5089 8140 5645 0 828 42277 36977 68372 79521 160628
43 Shivpuri 534 10297 3496 0 454 18171 55104 78005 86772 194162
44 Guna 0 2219 7835 0 4108 27961 52587 54593 83523 159213
45 Ashoknagar 0 0 1416 0 0 13190 24419 36519 56453 116359
46 Bhind 387 1037 174 0 8 28268 24001 32273 48106 81454
47 Murena 0 464 0 0 0 41981 47493 74553 86117 133784
48 Sheopurkala 19 16668 12119 0 7895 88924 58910 87248 147196 214234
49 Alirajpur 0 808 1079 3383 3428
50 Rajgarh 25130 17707 70392 103021 217432
51 Singroli 0 7251 10349 11528 17442
Grand Total 7817 47471 37979 0 13302 352282 390074 574727 809078 1469214
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Co-
Mandi operative
1 Bhopal 5300 25000 45740 27000 0 41537 1700 8310 154587
2 Hoshangabad 130421 80000 0 11000 48000 657747 11500 12260 950928
3 Harda 65570 0 0 3000 0 188620 4200 3900 265290
4 Sehore 27000 0 0 9600 48490 130594 6400 14360 236444
5 Rajgarh 17000 0 0 15000 0 130868 6000 1485 170353
6 Betul 13000 10000 0 7000 0 64072 3000 12790 109862
7 Raisen 43537 0 0 17500 0 179498 5000 9950 255485
8 Vidisha 44150 10000 0 18000 0 278189 4500 16050 370889
9 Bhind 17200 0 26000 11900 0 37880 2200 15450 110630
10 Datia 27600 7500 0 7000 0 31057 500 5355 79012
11 Guna 51440 0 0 14000 0 82247 7600 9300 164587
12 Ashoknagar 26000 11920 0 6000 0 75307 3000 0 122227
13 Gwalior 37300 12500 19750 14050 0 214406 3400 7990 309396
14 Murena 15400 0 64250 11000 30200 207824 6400 8200 343274
15 Sheopur 9200 11280 31000 5300 0 49516 4900 0 111196
16 Shivpuri 32800 0 0 8100 0 118366 3100 6450 168816
17 Balaghat 18600 44290 10000 20950 0 4798 3300 9710 111648
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
18 Chindwara 28250 0 0 11800 27052 62493 4900 19530 154025
19 Jabalpur 42350 10640 0 6875 0 196597 9100 15500 281062
20 Katni 5400 8640 25100 10000 0 93349 2000 0 144489
21 Narsinghpur 18666 0 19150 10700 0 85548 7100 20200 161364
22 Seoni 19000 8340 0 10000 0 77989 2800 7350 125479
23 Mandla 9180 0 0 17625 0 9936 2200 8090 47031
24 Dindori 4530 0 0 2000 0 0 0 0 6530
25 Dhar 31900 0 5000 12775 0 96858 13700 13070 173303
26 Indore 14310 0 77750 24000 0 283865 8500 10900 419325
27 Khandwa 3125 0 97367 17150 0 111510 7950 26115 263217
28 Barwani 10977 0 0 1000 0 15500 0 27477
29 Jhabua 20600 5000 0 3000 0 17653 5100 15030 66383
30 Alirajpur 6800 0 0 0 0 0 0 0 6800
31 Khargone 22450 0 0 8000 10944 51321 20700 33630 147045
32 Dewas 75050 0 0 13850 0 147083 8200 10620 254803
33 Burhanpur 0 0 27200 5000 0 1855 7350 0 41405
34 Ujjain 48916 15000 0 12000 38400 233371 10500 23845 382032
35 Mandsour 41400 0 0 8650 0 83132 3200 19370 155752
36 Neemuch 21846 0 0 7000 0 143270 2100 0 174216
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
37 Ratlam 43400 8980 0 19500 0 160431 22400 15300 270011
38 Rajapur 38385 0 8000 12000 0 186987 5500 15420 266292
39 Chhatarpur 28400 10000 0 10400 0 144646 2400 12850 208696
40 Panna 5000 0 0 6000 0 31333 200 4325 46858
41 Tikamgarh 22800 33140 0 15400 0 50927 2400 11200 135867
42 Sagar 47000 3780 0 18900 0 167730 10500 0 247910
43 Damoh 13600 0 0 12000 0 227594 1500 10200 264894
44 Anuppur 4000 0 0 0 0 0 500 4500
45 Satna 36986 6920 0 18280 0 22389 4500 12040 101115
46 Shahdol 12000 5640 0 21375 0 0 2000 0 41015
47 Singroli 2000 0 0 0 0 0 0 0 2000
48 Sidhi 7800 0 0 8575 4000 0 0 14830 35205
49 Rewa 14400 0 0 9575 0 12696 700 7950 45321
50 Umaria 2800 0 0 3000 0 0 0 0 5800
State 1284839 328570 456307 542830 207086 5193089 260200 468925 8741846
320162/MCB/ISA/AA/01 22 May 2013

Confidential

320162/MCB/ISA/AA/01 22 May 2013

Confidential
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Base Case
7. Tax Computation
320162/MCB/ISA/AA/01 22 May 2013


P & P Exp. 235.79 6.94%
VGF 0.00

Total 3395.34

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Revenues
Storage Charge
Variable Charge 35.64 37.74 39.97 42.33 44.83 47.48 50.29 53.26 56.41 59.74 63.27 67.01 70.96 75.16 79.60 84.30 89.28 94.55 100.14 106.06 112.32 118.96 125.98 133.43 141.31 149.66 158.50 167.86 177.78 188.28
Total Revenues 569.09 602.71 638.32 676.03 715.97 758.27 803.06 850.51 900.75 953.97 1010.33 1070.01 1133.23 1200.18 1271.08 1346.17 1425.70 1509.93 1599.13 1693.60 1793.66 1899.62 2011.85 2130.70 2256.58 2389.89 2531.08 2680.61 2838.98 3006.70
Expenditure
Power Cost 72.00 74.16 76.38 78.68 81.04 83.47 85.97 88.55 91.21 93.94 96.76 99.66 102.65 105.73 108.91 112.17 115.54 119.01 122.58 126.25 130.04 133.94 137.96 142.10 146.36 150.75 155.27 159.93 164.73 169.67
Fumigation Cost 16.20 17.01 17.86 18.75 19.69 20.68 21.71 22.80 23.93 25.13 26.39 27.71 29.09 30.55 32.07 33.68 35.36 37.13 38.99 40.94 42.98 45.13 47.39 49.76 52.25 54.86 57.60 60.48 63.51 66.68
EBIDTA 286.24 308.99 333.19 358.92 386.29 364.58 395.51 428.39 463.34 500.48 489.15 531.08 575.64 622.97 673.26 726.67 783.40 843.64 907.62 975.56 1047.70 1124.29 1205.60 1291.92 1383.55 1480.81 1584.04 1693.61 1809.89 1933.28
Depreciation 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46
EBIT 149.78 172.53 196.73 222.47 249.83 228.13 259.06 291.94 326.88 364.02 352.69 394.63 439.18 486.52 536.80 590.21 646.94 707.19 771.17 839.11 911.24 987.83 1069.15 1155.47 1247.10 1344.36 1447.59 1557.15 1673.43 1796.82
Interest on LTL 275.02 263.56 233.00 202.45 171.89 141.33 110.77 80.21 49.66 19.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.14 3.38 3.62 3.89 4.16 3.32 3.63 3.96 4.31 4.68 3.94 4.35 4.80 5.27 5.76 6.29 6.85 7.44 8.07 8.73 9.44 10.18 10.97 11.81 12.70 13.64 14.64 15.70 16.82 18.00
PBT -128.38 -94.40 -39.90 16.13 73.78 83.48 144.65 207.76 272.91 340.24 348.75 390.27 434.38 481.25 531.04 583.92 640.09 699.75 763.10 830.37 901.81 977.65 1058.17 1143.65 1234.39 1330.71 1432.95 1541.46 1656.61 1778.82
Tax 0.00 0.00 0.00 3.23 14.76 16.70 28.94 41.57 54.60 68.07 69.78 78.08 86.91 96.29 106.25 116.83 128.07 256.30 278.57 301.91 326.42 352.21 379.37 408.03 438.28 470.25 504.06 539.83 577.69 617.78
PAT -128.38 -94.40 -39.90 12.91 59.02 66.78 115.71 166.19 218.31 272.16 278.98 312.19 347.47 384.96 424.79 467.09 512.02 443.45 484.53 528.46 575.38 625.44 678.80 735.63 796.11 860.46 928.89 1001.63 1078.92 1161.04


P & P Exp. 235.79

Total Dep 3386.61 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46

Total WDV 3386.61 2977.24 2619.43 2306.42 2032.38 1792.27 1581.72 1396.93 1234.62 1091.95 966.44 855.94 758.58 672.73 596.98 530.08 470.97 418.70 372.44 331.48 295.18 263.00 234.44 209.10 186.58 166.57 148.77 132.94 118.85 106.29 95.11

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Current Assets
Debtors 47.42 50.23 53.19 56.34 59.66 63.19 66.92 70.88 75.06 79.50 84.19 89.17 94.44 100.01 105.92 112.18 118.81 125.83 133.26 141.13 149.47 158.30 167.65 177.56 188.05 199.16 210.92 223.38 236.58 250.56
Current Liabilities
Margin Money 8.73 9.38 10.07 10.80 11.57 9.21 10.08 11.00 11.98 13.01 10.93 12.09 13.32 14.63 16.01 17.47 19.03 20.67 22.41 24.26 26.21 28.29 30.49 32.81 35.28 37.89 40.66 43.60 46.71 50.01
Bank Finance 26.18 28.13 30.20 32.39 34.71 27.64 30.25 33.01 35.93 39.04 32.80 36.28 39.97 43.88 48.03 52.42 57.08 62.01 67.24 72.78 78.64 84.86 91.46 98.44 105.84 113.68 121.99 130.80 140.13 150.02

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 2376.73 2376.73 2112.65 1848.57 1584.49 1320.41 1056.33 792.24 528.16 264.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2376.73 2310.71 2046.63 1782.55 1518.47 1254.39 990.31 726.22 462.14 198.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2376.73 2244.69 1980.61 1716.53 1452.45 1188.37 924.29 660.20 396.12 132.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2376.73 2178.67 1914.59 1650.51 1386.43 1122.35 858.27 594.18 330.10 66.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 66.02 66.02 66.02 66.02 66.02 66.02 66.02 66.02 66.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 66.02 66.02 66.02 66.02 66.02 66.02 66.02 66.02 66.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 66.02 66.02 66.02 66.02 66.02 66.02 66.02 66.02 66.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 66.02 66.02 66.02 66.02 66.02 66.02 66.02 66.02 66.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 264.08 264.08 264.08 264.08 264.08 264.08 264.08 264.08 264.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 2376.73 2310.71 2046.63 1782.55 1518.47 1254.39 990.31 726.22 462.14 198.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2376.73 2244.69 1980.61 1716.53 1452.45 1188.37 924.29 660.20 396.12 132.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2376.73 2178.67 1914.59 1650.51 1386.43 1122.35 858.27 594.18 330.10 66.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2376.73 2112.65 1848.57 1584.49 1320.41 1056.33 792.24 528.16 264.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 68.76 68.76 61.12 53.48 45.84 38.20 30.56 22.92 15.28 7.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 68.76 66.85 59.21 51.57 43.93 36.29 28.65 21.01 13.37 5.73 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 68.76 64.94 57.30 49.66 42.02 34.38 26.74 19.10 11.46 3.82 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 68.76 63.03 55.39 47.75 40.11 32.47 24.83 17.19 9.55 1.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 275.02 263.56 233.00 202.45 171.89 141.33 110.77 80.21 49.66 19.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 1697.67 1697.67 1509.04 1320.41 1131.78 943.15 754.52 565.89 377.26 188.63 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1697.67 1650.51 1461.88 1273.25 1084.62 895.99 707.36 518.73 330.10 141.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1697.67 1603.35 1414.72 1226.09 1037.46 848.83 660.20 471.57 282.94 94.31 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1697.67 1556.20 1367.57 1178.94 990.31 801.68 613.05 424.42 235.79 47.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 47.16 47.16 47.16 47.16 47.16 47.16 47.16 47.16 47.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 47.16 47.16 47.16 47.16 47.16 47.16 47.16 47.16 47.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 47.16 47.16 47.16 47.16 47.16 47.16 47.16 47.16 47.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 47.16 47.16 47.16 47.16 47.16 47.16 47.16 47.16 47.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 188.63 188.63 188.63 188.63 188.63 188.63 188.63 188.63 188.63 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 1697.67 1650.51 1461.88 1273.25 1084.62 895.99 707.36 518.73 330.10 141.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1697.67 1603.35 1414.72 1226.09 1037.46 848.83 660.20 471.57 282.94 94.31 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1697.67 1556.20 1367.57 1178.94 990.31 801.68 613.05 424.42 235.79 47.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1697.67 1509.04 1320.41 1131.78 943.15 754.52 565.89 377.26 188.63 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 50.93 50.93 45.27 39.61 33.95 28.29 22.64 16.98 11.32 5.66 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 50.93 49.52 43.86 38.20 32.54 26.88 21.22 15.56 9.90 4.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 50.93 48.10 42.44 36.78 31.12 25.47 19.81 14.15 8.49 2.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 50.93 46.69 41.03 35.37 29.71 24.05 18.39 12.73 7.07 1.41 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 203.72 195.23 172.60 149.96 127.33 104.69 82.05 59.42 36.78 14.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 679.07 679.07 603.62 528.16 452.71 377.26 301.81 226.36 150.90 75.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 679.07 660.20 584.75 509.30 433.85 358.40 282.94 207.49 132.04 56.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 679.07 641.34 565.89 490.44 414.99 339.53 264.08 188.63 113.18 37.73 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 679.07 622.48 547.03 471.57 396.12 320.67 245.22 169.77 94.31 18.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 18.86 18.86 18.86 18.86 18.86 18.86 18.86 18.86 18.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 18.86 18.86 18.86 18.86 18.86 18.86 18.86 18.86 18.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 18.86 18.86 18.86 18.86 18.86 18.86 18.86 18.86 18.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 18.86 18.86 18.86 18.86 18.86 18.86 18.86 18.86 18.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 75.45 75.45 75.45 75.45 75.45 75.45 75.45 75.45 75.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 679.07 660.20 584.75 509.30 433.85 358.40 282.94 207.49 132.04 56.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 679.07 641.34 565.89 490.44 414.99 339.53 264.08 188.63 113.18 37.73 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 679.07 622.48 547.03 471.57 396.12 320.67 245.22 169.77 94.31 18.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 679.07 603.62 528.16 452.71 377.26 301.81 226.36 150.90 75.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 17.83 17.83 15.84 13.86 11.88 9.90 7.92 5.94 3.96 1.98 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 17.83 17.33 15.35 13.37 11.39 9.41 7.43 5.45 3.47 1.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 17.83 16.84 14.85 12.87 10.89 8.91 6.93 4.95 2.97 0.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 17.83 16.34 14.36 12.38 10.40 8.42 6.44 4.46 2.48 0.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 71.30 68.33 60.41 52.49 44.56 36.64 28.72 20.80 12.87 4.95 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PBT -128.38 -94.40 -39.90 16.13 73.78 83.48 144.65 207.76 272.91 340.24 348.75 390.27 434.38 481.25 531.04 583.92 640.09 699.75 763.10 830.37 901.81 977.65 1058.17 1143.65 1234.39 1330.71 1432.95 1541.46 1656.61 1778.82
Add: SLM Dep 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46 136.46
Less: WDV Dep 409.37 357.81 313.01 274.03 240.11 210.56 184.79 162.31 142.67 125.51 110.50 97.36 85.85 75.75 66.89 59.11 52.27 46.26 40.96 36.30 32.18 28.55 25.35 22.52 20.01 17.80 15.83 14.09 12.55 11.19
Income/Loss -401.29 -315.76 -216.45 -121.45 -29.88 9.38 96.32 181.91 266.70 351.18 374.71 429.37 484.99 541.95 600.60 661.27 724.27 789.95 858.59 930.53 1006.08 1085.55 1169.28 1257.59 1350.84 1449.38 1553.57 1663.82 1780.52 1904.09
Unabsorbed Loss -3394.64 -3795.93 -4111.69 -4328.14 -4449.58 -4479.46 -4470.08 -4373.76 -4191.85 -3925.16 -3573.97 -3199.26 -2769.90 -2284.90 -1742.95 -1142.35 -481.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Taxable Income/Loss -3795.93 -4111.69 -4328.14 -4449.58 -4479.46 -4470.08 -4373.76 -4191.85 -3925.16 -3573.97 -3199.26 -2769.90 -2284.90 -1742.95 -1142.35 -481.08 243.19 789.95 858.59 930.53 1006.08 1085.55 1169.28 1257.59 1350.84 1449.38 1553.57 1663.82 1780.52 1904.09
MAT 0.00 0.00 0.00 3.23 14.76 16.70 28.94 41.57 54.60 68.07 69.78 78.08 86.91 96.29 106.25 116.83 128.07 140.00 152.68 166.14 180.43 195.61 211.72 228.82 246.97 266.25 286.70 308.41 331.45 355.90
Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 78.90 256.30 278.57 301.91 326.42 352.21 379.37 408.03 438.28 470.25 504.06 539.83 577.69 617.78
Tax Applicable 0.00 0.00 0.00 3.23 14.76 16.70 28.94 41.57 54.60 68.07 69.78 78.08 86.91 96.29 106.25 116.83 128.07 256.30 278.57 301.91 326.42 352.21 379.37 408.03 438.28 470.25 504.06 539.83 577.69 617.78

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cash Inflows
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIDTA 286.24 308.99 333.19 358.92 386.29 364.58 395.51 428.39 463.34 500.48 489.15 531.08 575.64 622.97 673.26 726.67 783.40 843.64 907.62 975.56 1047.70 1124.29 1205.60 1291.92 1383.55 1480.81 1584.04 1693.61 1809.89 1933.28
Cash Outflows
Interest on LTL 275.02 263.56 233.00 202.45 171.89 141.33 110.77 80.21 49.66 19.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.14 3.38 3.62 3.89 4.16 3.32 3.63 3.96 4.31 4.68 3.94 4.35 4.80 5.27 5.76 6.29 6.85 7.44 8.07 8.73 9.44 10.18 10.97 11.81 12.70 13.64 14.64 15.70 16.82 18.00
Changes in Net CA 34.91 2.60 2.75 2.92 3.09 -9.42 3.47 3.68 3.90 4.14 -8.32 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Tax Paid 0.00 0.00 0.00 3.23 14.76 16.70 28.94 41.57 54.60 68.07 69.78 78.08 86.91 96.29 106.25 116.83 128.07 256.30 278.57 301.91 326.42 352.21 379.37 408.03 438.28 470.25 504.06 539.83 577.69 617.78
Net Cashflow 8.73 -0.65 -222.68 -168.21 -115.45 -69.38 -58.49 -12.78 37.65 89.71 143.50 417.51 447.48 482.70 520.12 559.86 602.08 646.93 578.26 619.24 663.07 709.88 759.83 813.06 869.75 930.10 994.31 1062.58 1135.15 1212.27 1294.20
Opening Cash 0.00 8.73 8.07 -214.61 -382.82 -498.27 -567.65 -626.14 -638.92 -601.28 -511.57 -368.07 49.45 496.93 979.63 1499.74 2059.61 2661.69 3308.62 3886.88 4506.12 5169.20 5879.08 6638.91 7451.96 8321.72 9251.82 10246.13 11308.71 12443.86 13656.13
Closing Cash 8.73 8.07 -214.61 -382.82 -498.27 -567.65 -626.14 -638.92 -601.28 -511.57 -368.07 49.45 496.93 979.63 1499.74 2059.61 2661.69 3308.62 3886.88 4506.12 5169.20 5879.08 6638.91 7451.96 8321.72 9251.82 10246.13 11308.71 12443.86 13656.13 14950.33

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Liabilities
Equity 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60 1018.60
Reserves and Surplus -128.38 -222.79 -262.68 -249.78 -190.76 -123.98 -8.27 157.92 376.23 648.39 927.37 1239.55 1587.03 1971.99 2396.78 2863.87 3375.90 3819.35 4303.88 4832.34 5407.72 6033.16 6711.96 7447.59 8243.70 9104.17 10033.06 11034.69 12113.62 13274.66
Long Term Loan 2376.73 2112.65 1848.57 1584.49 1320.41 1056.33 792.24 528.16 264.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Assets
Gross Block 3386.61 3250.15 3113.70 2977.24 2840.78 2704.33 2567.87 2431.41 2294.96 2158.50 2022.05 1885.59 1749.13 1612.68 1476.22 1339.76 1203.31 1066.85 930.40 793.94 657.48 521.03 384.57 248.11 111.66 -24.80 -161.25 -297.71 -434.17 -570.62
Net Block 3250.15 3113.70 2977.24 2840.78 2704.33 2567.87 2431.41 2294.96 2158.50 2022.05 1885.59 1749.13 1612.68 1476.22 1339.76 1203.31 1066.85 930.40 793.94 657.48 521.03 384.57 248.11 111.66 -24.80 -161.25 -297.71 -434.17 -570.62 -707.08
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash & Bank 8.07 -214.61 -382.82 -498.27 -567.65 -626.14 -638.92 -601.28 -511.57 -368.07 49.45 496.93 979.63 1499.74 2059.61 2661.69 3308.62 3886.88 4506.12 5169.20 5879.08 6638.91 7451.96 8321.72 9251.82 10246.13 11308.71 12443.86 13656.13 14950.33
Total Assets 3293.13 2936.60 2634.69 2385.70 2182.95 1978.58 1832.82 1737.69 1694.84 1706.03 1978.77 2294.44 2645.60 3034.48 3463.41 3934.89 4451.57 4899.96 5389.71 5923.71 6504.97 7136.63 7822.02 8564.63 9368.14 10236.45 11173.65 12184.09 13272.35 14443.27

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PAT -128.38 -94.40 -39.90 12.91 59.02 66.78 115.71 166.19 218.31 272.16 278.98 312.19 347.47 384.96 424.79 467.09 512.02 443.45 484.53 528.46 575.38 625.44 678.80 735.63 796.11 860.46 928.89 1001.63 1078.92 1161.04
Interest on LTL 185.79 178.05 157.41 136.76 116.12 95.48 74.83 54.19 33.55 12.90 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of LTL 0.00 264.08 264.08 264.08 264.08 264.08 264.08 264.08 264.08 264.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Change in CA 34.91 2.60 2.75 2.92 3.09 -9.42 3.47 3.68 3.90 4.14 -8.32 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Coverage 158.96 217.50 251.21 283.21 308.50 308.13 323.53 353.15 384.41 417.39 423.75 444.00 479.01 516.20 555.72 597.69 642.27 573.33 614.02 657.53 704.01 753.61 806.47 862.77 922.70 986.46 1054.27 1126.35 1202.94 1284.31
Debt Service 185.79 442.13 421.49 400.84 380.20 359.56 338.91 318.27 297.63 276.98 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSCR 0.86 0.49 0.60 0.71 0.81 0.86 0.95 1.11 1.29 1.51
Minimum DSCR 0.49
Average DSCR 0.88
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cumulative Cashflow -3395.34 -3236.38 -3018.87 -2767.66 -2484.46 -2175.96 -1867.83 -1544.30 -1191.15 -806.74 -389.35 34.40 478.39 957.40 1473.61 2029.33 2627.02 3269.29 3842.62 4456.64 5114.17 5818.18 6571.79 7378.26 8241.03 9163.73 10150.19 11204.46 12330.81 13533.75 14818.06
Project IRR 11.04%
Equity Cash Inflow -26.83 -224.63 -170.28 -117.64 -71.70 -51.43 -15.39 34.88 86.78 140.40 423.75 444.00 479.01 516.20 555.72 597.69 642.27 573.33 614.02 657.53 704.01 753.61 806.47 862.77 922.70 986.46 1054.27 1126.35 1202.94 1284.31
Net Equity Cashflow -1018.60 -26.83 -224.63 -170.28 -117.64 -71.70 -51.43 -15.39 34.88 86.78 140.40 423.75 444.00 479.01 516.20 555.72 597.69 642.27 573.33 614.02 657.53 704.01 753.61 806.47 862.77 922.70 986.46 1054.27 1126.35 1202.94 1284.31
Equity IRR 12.39%
Average ROCE 13.68%

Silo in Harda, Madhya
Pradesh
Feasibility Report
May 2013
Confidential
Silo in Harda, Madhya
Pradesh
Report_Harda.doc
22 May 2013
Feasibility Report
May 2013
Confidential
Setting up of Steel Grain Silo in Harda, Madhya Pradesh
Confidential

Planning Commission
other parties

commissioned it.
Confidential
Content
1. Introduction 1
1.1 Report content _____________________________________________________________________ 1
3.3.2 Movement of grain in the proposed Silo facility at Harda _____________________________________ 9
4.4 Connectivity ______________________________________________________________________ 11

5.3 Mandi Arrivals _____________________________________________________________________ 22
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P:\320162\MP Grain Silo\FM_Report\Submissions\Feasibility Report_Harda.doc
Confidential
5.4 Procurement ______________________________________________________________________ 25

6.2 Storage Gap Assessment in Harda District ______________________________________________ 32

7.1 Project Cost ______________________________________________________________________ 34
7.1.6 Contingencies _____________________________________________________________________ 39
7.2 Means of Finance __________________________________________________________________ 40

8.1 Assumptions ______________________________________________________________________ 41
8.1.2.2 Operating Days ___________________________________________________________________ 41
8.1.4.1 Power Cost _______________________________________________________________________ 44
8.1.4.2 Manpower Cost ___________________________________________________________________ 44
8.1.4.4 Fumigation Cost ___________________________________________________________________ 45
8.1.4.6 Insurance Cost ____________________________________________________________________ 46
8.1.4.8 Depreciation ______________________________________________________________________ 46
8.1.4.9 Taxation _________________________________________________________________________ 47
9.1 Change in Capex __________________________________________________________________ 48
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Confidential

9.3 Change in Opex ___________________________________________________________________ 49
F.1. Buhler ___________________________________________________________________________ 70
F.2. Scafco __________________________________________________________________________ 78
F.3. Agrosaw _________________________________________________________________________ 87
Tables
Table 5.3: Wheat Production in Harda (2003-04 to 2011-12) _________________________________________ 20
Table 5.5: Mandi Arrivals in Harda (2002-03 to 2012-13) ____________________________________________ 23
Table 5.7: Procurement of Wheat in Harda (2003-04 to 2012-13)______________________________________ 27
Table 6.4: Storage Facilities in Harda (as on 28-09-2012) ___________________________________________ 32

Confidential

Table 8.9: Tax Rates ________________________________________________________________________ 47
Figures
Figure 1: Location Map ______________________________________________________________________ vii
Figure 4.1: Location Map _____________________________________________________________________ 10
Figure 5.3: Wheat Production in Harda (2002-03 to 2012-13*) ________________________________________ 21
Figure 5.5: Mandi Arrivals of Wheat in Harda (2002-03 to 2012-13) ____________________________________ 24
Figure 5.7: Wheat Procurement in Harda (2003-04 to 2012-13) _______________________________________ 28
iv320162/MCB/ISA/AA/01 22 May 2013

Confidential
v320162/MCB/ISA/AA/01 22 May 2013

Confidential
vi320162/MCB/ISA/AA/01 22 May 2013

Confidential
Executive Summary
M.P. Warehousing & Logistics Corporation (MPWLC) has decided to undertake the development of steel silos
for storage of wheat at ten (10) locations in Madhya Pradesh through Public-Private Partnership on Design,
Build, Finance, Operate and Transfer (the "DBFOT") basis. In the process, Global Engineering, Development
and Management Consultants, Mott MacDonald, has been appointed by MPWLC for preparation of feasibility
report for setting up of steel silos for storage of wheat at all ten locations.
Shelf Life of grains, Land requirement and Operational Cost. Silos are better option for bulk storage of grains
due to their various benefits like assured shelf life of grain for 2-3 years, easier grain management, 1/3rd land
requirement compared to traditional warehouses and no risk of pilferage. Therefore, steel silos are considered
to be the best modern alternative storage technique suitable for Indian conditions. The silo capacity of 50,000
MT has been considered at the proposed site in Harda. This facility would have 4 bins, each bin of capacity
12,500 MT.
Baghwad (Timarni) village having an area of about 7 acres (following map). The proposed site is about 11 kms
from the nearest rail head. The Pradhan Mantri Gram Sadak Yojna (PMGSY) road from the rail head is
connecting the site giving the site an advantage in rail connectivity. The procurement centres are within the
range of 20 kms of the site and have a total procurement capacity of about 96,000 MT of wheat.
Figure 1: Location Map
Proposed Site, Village: Baghwad
There is an increasing trend in the production, Mandi arrivals and procurement of wheat over the past 3 years
in Madhya Pradesh. The same trend is noted in the Harda district as well.
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Confidential
The project cost is estimated to be INR 3,063.52 lakhs for development of 50,000 MT capacity of Steel Grain
Silo consisting 4 (four) bins of 12,500 MT of capacity each. The land of about 7 acres would be allotted by the
State Government to the private developer.

Contingency 135.04
Margin Money 8.93
been considered in the base case.The proposed break up of sourcing of funds under base case for

Equity 919.06 30.00%
vii 320162/MCB/ISA/AA/01 22 May 2013

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Revenue Assumptions
Revenues (2013)
As per the Warehousing & Logistics Policy 2012, the guaranteed storage charges shall be paid for 10 years at
100% utilization. Financial analysis has been carried out for 30 years of concession period. The base case
financials assume that even after 10 years of guaranteed period, the project would achieve the 100%
Equity IRR 14.05% -
It can be observed that the project IRR for the base case assumptions is greater than WACC of 9.70% and
Equity IRR is also greater than 12% (minimum expected rate of return on equity). Apart from that the DSCR
for the project is 1. Since the project is also eligible for availing VGF, the consultant has carried out sensitivity
analysis to know the financial viability of the project at various levels of VGF availability and the same has
been given as:

Base
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
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Base
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis
From the above table, it can be observed that the project IRR is greater than the WACC of 9.97%; Equity IRR
is greater than 12% (minimum expected rate of return on equity) at all levels of utilization and availability of
VGF. However to achieve the desirable level of DSCR i.e. 1.20 times, at least 20% of VGF is required.
indicators at various levels of utilization of facilities after guaranteed revenue period of 10 years for base case
has been tabulated as:
Project IRR 12.14% 11.53% 10.86% 10.49% 9.69% 9.23%
Equity IRR 14.05% 13.22% 12.31% 11.80% 10.68% 10.03%
DSCR 1.00 1.00 1.00 1.00 1.00 1.00
Payback Period 9.96 9.96 9.96 9.96 9.96 9.96
guaranteed period from base case affects financial indicators adversely. No changes in DSCR and payback
period are observed because debt repayment is made during first 10 years of project life and payback period
is also less than 10 years while the cash flows are affected only after 10 years of project life.
Also, effect on equity IRR due to changes in utilization of facilities after 10 years of guarantee period and
various levels of availability of VGF cannot be ignored. The same has been tabulated as follows:

0% 10% 20% 25% 30% 35% 40%
100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
after 10 years
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
From the above table, Equity IRR under various cases of availability of VGF and utilization of silo facilities after
10 years of guaranteed period can be observed. Equity IRR is greater than 12% (Minimum Expected return on
Equity) at any level of utilization of facilities after 10 years and availability of VGF greater than 20%.
320162/MCB/ISA/AA/01 22 May 2013

x P:\320162\MP Grain Silo\FM_Report\Submissions\Feasibility Report_Harda.doc
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1. Introduction


This is the Feasibility Report of the Silo Project for Harda for the
320162/MCB/ISA/AA/01 22 May 2013

1 P:\320162\MP Grain Silo\FM_Report\Submissions\Feasibility Report_Harda.doc
Confidential


heads:



320162/MCB/ISA/AA/01 22 May 2013

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years.
! "
! "
facility at Harda would be 50,000 MT. It is proposed that the facility will

# " $ %

process
• Land allotment




monitored Silos.

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320162/MCB/ISA/AA/01 22 May 2013

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! & '


18 months.



! (

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also available.

!! " ( "



Source: MM Research
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equipment.
!! % % "

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Depot Bagging
Debagging

Storage
Despatch – Chain
Conveyor, Bucket
Dispatch


storage point
godowns for storage
for issue to PDS
Source: MM Analysis
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!! ) % " *
facility.

Mechanized Receipts
Wheat - Farmers
Weighing
Storage
Dispatch – Chain
Conveyor, Bucket
Trucks for Further
Dispatch Bagging

as an Annexure G.
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# +
Harda is one of locations for the proposed Silo facilities in Madhya

MT of capacity is located in the Baghwad (Timarni) village on an area of
Khasra No. 160/21, Village Baghawad (Timarni), Harda, Madhya

Pradesh.

below:
Proposed Site, Village: Baghwad
# ' " ' , '% - %
The proposed site land of 7 acres in Baghwad (Timarni) village has

been reserved for the proposed project for MPWLC. The allocation and
possession of the same are under process. The documents pertaining
to the land agreement/allotment are attached as Appendix A. This land
will be provided by MPWLC to the developer for setting up the Silo in
the premises.
#! .
MW. As informed by the MPWLC representative, Mr. G.S. Chauhan
(Branch Manager), the electricity to the proposed site can be easily
made available from the nearest transformer adjacent to the boundary
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limits of the site. However, the separate transformer is required at the

at the site.
##

The Branch Manager of MPWLC at Harda, Mr. G.S. Chauhan has

also in place by Pradhan Mantri Gram Sadak Yojna (PMGSY) road,
giving the site an advantage of rail and road connectivity.
Also, the national highway (NH 59A) is approximately 12 kms from the
National Highway. The nearest state highway (Khandwa to
Hoshangabad) is 5 kms from the site which is connected by PMGSY
road.
The developer needs to consider any development / augmentation as

matter.

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Bichapur Nayagaon
Procurement Chidgram Chidgaon
Centres within 20 Gramin Mandi
kms radius of Silo Pokharni Pokharni
Gramin Mandi
Tachpura Tachpura
Gramin Mandi
Temagaon Kartana
Undrakach Charkheda
Rail Head / SH Bhatugaon Bajaliya
Transportation
Source: MM Analysis

Bichapur Temagaon Pokhari Mandi
Chidgram Mel Gramin Undrakachh Tachpura Gramin
Chidgaon Mandi Bhatugaon Tachpura Mandi
Nayagaon Pokhari Gramin Kartana
Charkheda Sodalpur Bajaliya
Source: MPWLC
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/ 0 "'

below:
State Farmers Field

Production

Markfed

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Source: MM Analysis


location.
/ 0 '
/ " + "


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(%) (%)
2002-03 3381 4923 1456 -
2003-04 4091 7365 1800 49.60% 23.6
2004-05 4200 7327 1745 -0.52% -3.1
2005-06 3785 6200 1638 -15.38% -6.1
2006-07 4275 7848 1836 26.58% 12.1
2007-08 4101 6737 1643 -14.16% -10.5
2008-09 4010 7280 1815 8.06% 10.5
2009-10 4471 8873 1985 21.88% 9.3
2010-11 4645 9227 1986 3.99% 0.1
2011-12 4901 12703 2592 37.67% 30.5
2012-13 5434 16104 2964 26.77% 14.3

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18
16.1
16
14
Production (in MMT)
12.7
12
10 8.9 9.2
7.4 7.8
7.3
8 6.2 6.7 7.3
6
4
2
0
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
observed in the state. The long term CAGR (last 10 years i.e 2003-04


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• 2009-10: 10.62%
• 2011-12: 18.69%
• 2012-13: 14.28%
crops:

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• Seed treatment
• Weed control

• Usage of Neem coated urea for better retention of the urea to

the soil

increase

over and above MSP, the state government provides bonus of
INR 150/quintal.

2012-13.


Pradesh:
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(In Lakh Ha)
2000-01 7.36 -
2001-02 9.40 27.72%
2002-03 7.69 -18.19%
2003-04 10.07 30.95%
2004-05 10.35 2.78%
2005-06 10.13 -2.13%
2006-07 9.37 -7.50%
2007-08 9.48 1.17%
2008-09 9.71 2.43%
2009-10 8.87 -8.65%
2010-11 9.76 10.03%
2011-12 16.34 67.42%
2012-13 20.21 23.66%
irrigation has increased almost three times in a decade in the state
resulting into the substantial growth in production of crops including
wheat.

below.
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connection.
/ + "
The wheat production of Harda district for the last 10 years is as

tabulated below.
Table 5.3: Wheat Production in Harda (2003-04 to 2011-12)

2002-03 0.176
2003-04 0.180
2004-05 0.239
2005-06 0.231
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2006-07 NA
2007-08 0.153
2008-09 0.168
2009-10 0.182
2010-11 0.561
2011-12 0.640
2012-13* (proj.) 0.739
MMT in 2009-10. But in 2010-11, the production suddenly increased to
0.56 MMT. Subsequently in 2011-12, the production increased to about
0.64 MMT. The following graph depicts the trend in wheat production in
Harda district over the period 2002-03 to 2012-13*.
Figure 5.3: Wheat Production in Harda (2002-03 to 2012-13*)
0.8
0.74
0.7
0.64
0.6
Production (in MMT)
0.56
0.5
0.4
0.3
0.24 0.23
0.18 0.18
0.2 0.15 0.17 0.18
0.1
0
2002-03 2003-04 2004-05 2005-06 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13*
Year

The short term (2008-09 to 2012-13) CAGR for Harda district is about
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term (2003-04 to 2012-13) CAGR is about 17% which indicates that in
year trend of production in Harda that the production has suddenly

/! )

/! " + "

2003-04 2.456 18.10%
2004-05 3.809 55.07%
2005-06 3.136 -17.67%
2006-07 3.037 -3.13%
2007-08 4.769 57.02%
2008-09 4.990 4.62%
2009-10 4.355 -12.72%
2010-11 6.098 40.02%
2011-12 8.234 35.03%
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2012-13 9.883 20.03%

2003-04 to 2012-13.

12.00
9.88
10.00
8.23
8.00
6.10
6.00
4.77 4.99
4.36
3.81
4.00 2.46 3.14 3.04
2.00
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
/! + "
The Mandi Arrivals of Harda district for the last 10 years is as tabulated
below
Table 5.5: Mandi Arrivals in Harda (2002-03 to 2012-13)

2002-03 0.165 -
2003-04 0.132 -19.54%
2004-05 0.205 54.74%
2005-06 0.115 -43.95%
2006-07 0.217 88.95%
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2007-08 0.260 19.96%
2008-09 0.354 35.91%
2009-10 0.256 -27.74%
2010-11 0.312 22.23%
2011-12 0.454 45.30%
2012-13 0.464 2.28%
The short term CAGR (2008-09 to 2012-13) for Harda district is about
wise Mandi Arrivals for Harda district for period 2002-03 to 2012-13.
Figure 5.5: Mandi Arrivals of Wheat in Harda (2002-03 to 2012-13)
0.5
0.454
0.45 0.464
0.4
0.35 0.354
0.3 0.312
0.217 0.26
0.25 0.256
0.205
0.2
0.15 0.132
0.165
0.1 0.115
0.05
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
It can be observed from the above graph that the mandi arrivals in
Harda district have increased steeply over the last 4 years.

Appendix C.
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/# ' %

/# " + "


MMT)
2003-04 0.200 -44.50%
2004-05 0.349 74.34%
2005-06 0.484 38.77%
2006-07 0.000 -
2007-08 0.057 -88.12%
2008-09 2.410 4092.61%
2009-10 1.967 -18.37%
2010-11 3.538 79.83%
2011-12 4.965 40.35%
2012-13 8.508 71.35%
Source: MPSCSCL

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9
8.508
8
7
5 4.965
4
3.538
3
2.41 1.967
2
1 0.2 0.484
0.349 0.057
0
0
2006-07
2003-04
2004-05
2005-06
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
/# + "

procurement by State Agencies in Harda district for the last 10 years is
as tabulated below.
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Table 5.7: Procurement of Wheat in Harda (2003-04 to 2012-13)

2002-03 0.065
2003-04 0.011
2004-05 0.025
2005-06 0.070
2006-07 0.000
2007-08 0.008
2008-09 0.239
2009-10 0.242
2010-11 0.314
2011-12 0.467
2012-13 0.540
Source: MPSCSCL


the State agencies in the Harda district is about 22.64% which shows
sharp increasing trend within short period of time. The following graph
depicts wheat procurement in Harda district over the period 2003-04 to
2012-13
320162/MCB/ISA/AA/01 22 May 2013

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Figure 5.7: Wheat Procurement in Harda (2003-04 to 2012-13)

0.6
0.467 0.54
0.5
0.4
0.314
0.242
0.3
0.239
0.2
0.065 0.07
0.1
0.011 0.025
0 0.008
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
// "'%% 0 "

following table.

State Harda District State Harda State Harda
District District
2002-03 4.923 0.176 - 0.165 - 0.065
2003-04 7.365 0.180 2.456 0.132 0.200 0.011
2004-05 7.327 0.239 3.809 0.205 0.349 0.025
2005-06 6.200 0.231 3.136 0.115 0.484 0.070
2006-07 7.848 0.000 3.037 0.217 0.000 0.000
2007-08 6.737 0.153 4.769 0.260 0.057 0.008
2008-09 7.280 0.168 4.990 0.354 2.410 0.239
2009-10 8.873 0.182 4.355 0.256 1.967 0.242
2010-11 9.227 0.561 6.098 0.312 3.538 0.314
2011-12 12.703 0.640 8.234 0.454 4.965 0.467
2012-13 16.104 0.739 9.883 0.464 8.508 0.540
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These are:
Corporations


Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
MPWLC 10.47 10.97 11.29 11.47 11.61 11.66 11.86
CWC 4.52 4.52 4.56 4.56 4.56 4.56 4.56
MARKFED 5.06 5.06 5.29 5.29 5.43 5.43 5.43
FCI 3.29 3.29 3.29 3.29 3.29 3.29 3.29
MANDI BOARD 2.57 2.57 2.62 2.62 2.62 2.62 2.62
CO-OPERATIVE
SO. 4.63 4.63 4.63 4.63 4.63 4.63 4.63
LVS 2.92 2.92 4.00 4.00 4.00 4.00 4.00
OILFED 2.07 2.07 2.07 2.07 2.07 2.07 2.07
M.P.AGRO 0.31 0.31 0.31 0.31 0.31 0.31 0.31
NAFED 0.15 0.15 0.15 0.15 0.15 0.15 0.15
PRIVATE
warehouse (Rular
godon scheme) 18.64 26.23 33.51 39.56 44.90 53.13 69.08
RIDF MPWLC - - - - - - -
PEG godown
(Prt.) - - - - - - -
PIG (SILO) - - - - - - -
MPWLC (SILO) - - - - - - -
BUNDHELKHAN
D VISHESH
PACAKAGE - - - - - - -
IAP - - - - - - -
Warehousing &
Logistics Policy
(Early Bird) - - - - - - -
Total 54.63 62.72 71.72 77.95 83.57 91.85 108.00
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Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Y.O.Y Growth
Rate in Storage
capacity (%) 14.81% 14.35% 8.69% 7.21% 9.91% 17.58%
Source: MPWLC


(in Lakh Tonnes)
of 2014-15
MPWLC 6.23 18.09
CWC 1.30 5.86
MARKFED - 5.43
FCI - 3.29
MANDI BOARD - 2.62
LVS - 4.00
OILFED - 2.07
M.P.AGRO - 0.31
NAFED - 0.15
PIG (SILO) 3.50 3.50
PACAKAGE 6.50 6.50
IAP 1.80 1.80
(Early Bird) 15.00 15.00
Total 61.18 169.18
Source: MPWLC
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tabulated below:

Agency 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Name 2014-15
MPWLC 19% 17% 16% 15% 14% 13% 11% 21% 27%
CWC 8% 7% 6% 6% 5% 5% 4% 4% 3%
MARKFED 9% 8% 7% 7% 6% 6% 5% 4% 3%
FCI 6% 5% 5% 4% 4% 4% 3% 2% 2%
MANDI
BOARD 5% 4% 4% 3% 3% 3% 2% 2% 2%
Co-Op. Soc. 8% 7% 6% 6% 6% 5% 4% 3% 3%
Private 34% 42% 47% 51% 54% 58% 64% 55% 50%
Others 10% 9% 9% 8% 8% 7% 6% 9% 11%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Source: MPWLC
Board and Co-operative society have respectively around 3%, 2% & 4%
Agency wise present storage facilities in the district of Harda are

tabulated below.
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Table 6.4: Storage Facilities in Harda (as on 28-09-2012)

(in MT)
1 WLC 65570
2 FCI 0
3 CWC 0
4 Markfed 3000
5 Olifed 0
6 Private 188620
7 Mandi Board 4200
Total 265290
Source: MPWLC
1 " $ % *

Harda.

production in Harda about 75% of the wheat was traded at mandis.

stabilise (with the optimum utilization of land) and could register 5.00%
to grow at national growth rate of 2.91% in the subsequent years.


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2011-12 (actual) 639900 453863 265290 188573
2012-13 738819 464200 311936 152264
2013-14 864435 543125 400289 142836
2014-15 1011409 635468 488642 146826
2015-16 1183371 743512 488642 254870
2016-17 1384571 869926 488642 381284
2017-18 1619980 1017833 488642 529191
2018-19 1700979 1068725 488642 580083
2019-20 1786028 1122161 488642 633519
2020-21 1875329 1178269 488642 689627
2021-22 1969096 1237182 488642 748540
2022-23 2067550 1299042 488642 810400
2023-24 2127716 1336844 488642 848202
2024-25 2189633 1375746 488642 887104
2025-26 2253351 1415780 488642 927138
2026-27 2318924 1456979 488642 968337
2027-28 2386404 1499377 488642 1010735
2028-29 2455849 1543009 488642 1054367
2029-30 2527314 1587911 488642 1099269
2030-31 2600859 1634119 488642 1145477
2031-32 2676544 1681672 488642 1193030
2032-33 2754431 1730608 488642 1241967
Source: MM Analysis
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Land 0.70
Contingency 135.04
Margin Money 8.93
2 + + %

table below.

Quantity
Land 7.00 0.00 0.00
Cost 0.70
2 3' 0
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8400 11000 924.00
Grade - M30) Cu.m
2266 3000 67.98
1000 2500 25.00
coat Sqm
500 2000 10.00
water Sqm
2 ! )
MT each.

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imported 580.63 884.72 975.17
844.00 884.72 1103.31
Import Duty 10% 58.06 88.47 97.52
CST 2.0% 5.27 0.00 2.56
Inland Freight 3.0% 17.42 26.54 29.26
Total P & M Cost *966.95 1043.97 1287.81


Savings due
Aeration System 54066 2973630 0% 2973630 0%
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Savings due
Centrifugal Fan 30686 1687752 30% 1181426 30%
Others 4048 222662 0% 222662 0%
4 Roof Exhausters 19879 1093323 0% 1093323 0%
7 (Wheat)**
Sweep Auger 33054 1817992 30% 1272594 30%
Others 6867 377663 0% 377663 0%
4 95450 5249764 25% 3937323 25%
TPH Wheat 67100 3690484 30% 2583338 30%
Dust Silo DB1 -63.3m3 14896 819253 30% 573477 30%
E2 78962 4342883 35% 2822874 35%
Others 24142 1327818 35% 863082 35%
Total 1675840 92171222 84399633
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Savings due
CST 2.0% 526730

2 # 4 , ' % .

Other Utilities
DG sets Nos. 2 2000000 40.00
- connection cost
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Other Utilities
process flow
Utilities
2 / %


2 1

2 2 ) ) 0

assumptions:
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Debtors 1 -
Stores & Spares 3 -
Bank Finance 75%

Lakhs.
2 ) 5



Lakhs) TPC)
Equity 919.06 30.00%

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6 '%

6 3 '%
concession period
6 '%

year.


Rate of Basis
Escalation
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Rate of Basis
Escalation

2011-2012 156.13
2010-2011 143.32
2009-2010 130.81
2008-2009 126.02
2007-2008 116.63
2006-2007 111.35
2005-2006 104.47
CAGR 5.91%
6 ! ' '%

Charge.


Revenues (2013)
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Revenues (2013)

Concession.


been considered.
6 # '%

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8.1.4.1 Power Cost


Load Factor 21%

table below:

Cost Total Cost
Manpower Category
Clerks 1 144000 1.44
Peons 2 72000 1.44
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Rs./quintal 2.00
weighment
Rs./quintal 3.00
bags
Source: MM Analysis

India.


Duration Unit Value
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below:

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8.1.4.9 Taxation


Tax Rates Rates
Income Tax 32.45%
MAT 20.01%
same.
6 / 5

ROCE.

Equity IRR 14.05% -
DSCR 1.00 Times
320162/MCB/ISA/AA/01 22 May 2013

Confidential


7 8


Change in
Capex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.61% 11.16% 12.66% 13.25%
Equity IRR 14.05% 13.24% 12.57% 14.88% 15.82%
DSCR 1.00 0.94 0.89 1.06 1.12
Source: MM Analysis

in the above table.
7 '


Project IRR 12.14% 13.65% 15.14% 10.58% 9.00%
Equity IRR 14.05% 16.51% 19.15% 11.71% 9.50%
320162/MCB/ISA/AA/01 22 May 2013

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DSCR 1.00 1.17 1.35 0.82 0.65
Source: MM Analysis

each other.


Equity IRR 14.05% 10.31%
DSCR 1.00 0.72
Source: MM Analysis

7! 8
follows:

Change in Opex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.79% 11.45% 12.44% 12.78%
Equity IRR 14.05% 13.51% 12.99% 14.54% 15.10%
DSCR 1.00 0.96 0.92 1.04 1.08
Source: MM Analysis
320162/MCB/ISA/AA/01 22 May 2013

Confidential
7# 9$5
are tabulated as:

Base Case -
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis

below:
Base
(INR lakhs) 3061.86 2755.68 2449.49 2296.40 2143.30 1990.21 1837.12
Project IRR 9.59% 10.53% 11.63% 12.27% 12.98% 13.78% 14.70%
Equity IRR 10.31% 11.65% 13.32% 14.34% 15.53% 16.97% 18.73%
DSCR 0.72 0.80 0.90 0.96 1.03 1.10 1.19
Source: MM Analysis
320162/MCB/ISA/AA/01 22 May 2013

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7/ . : 5 ; 9$5 4<'

0% 10% 20% 25% 30% 35% 40%

100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
after 10 years
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
Source: MM Analysis
' ; %% :
GoI.
320162/MCB/ISA/AA/01 22 May 2013

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1.20 times.
320162/MCB/ISA/AA/01 22 May 2013

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320162/MCB/ISA/AA/01 22 May 2013

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320162/MCB/ISA/AA/01 22 May 2013

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320162/MCB/ISA/AA/01 22 May 2013

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320162/MCB/ISA/AA/01 22 May 2013

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320162/MCB/ISA/AA/01 22 May 2013

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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
1 Jabalpur 154.6 156.3 184.0 N.A. 126.6 171.5 158.6 280.5 284.9
2 Katni 86.6 75.4 70.9 N.A. 39.6 74.3 70.8 59.0 96.7
3 Balaghat 17.4 7.9 22.1 N.A. 13.2 12.3 19.5 22.9 29.8
4 Chhindwara 170.2 145.6 144.1 N.A. 223.4 175.2 425.2 388.9 748.4
5 Seoni 93.1 77.7 88.8 N.A. 93.4 90.1 90.5 102.1 127.5
6 Mandla 26.8 26.6 28.5 N.A. 25.3 26.6 23.0 16.7 17.6
7 Dindori 21.9 24.0 18.4 N.A. 14.9 19.4 19.1 16.0 33.7
8 Narsinghpur 181.7 168.9 172.6 N.A. 157.5 189.7 169.4 226.9 253.2
9 Sagar 183.7 173.1 176.4 N.A. 131.8 188.2 244.5 186.5 295.1
10 Damoh 96.6 97.8 102.1 N.A. 99.8 131.8 136.3 171.4 197.0
11 Panna 78.9 76.7 74.9 N.A. 53.2 88.3 97.1 89.1 103.7
12 Tikamgarh 250.3 174.8 79.0 N.A. 28.0 209.2 168.3 99.0 241.5
13 Chhatarpur 249.6 243.7 180.5 N.A. 60.1 195.8 203.9 169.1 199.5
14 Rewa 204.4 181.1 170.8 N.A. 99.3 165.3 158.0 111.3 215.4
15 Sidhi 76.6 67.2 64.1 N.A. 54.7 47.0 45.4 38.1 67.4
16 Singroli 0.0 0.0 0.0 N.A. 0.0 28.9 35.0 35.1 60.9
17 Satna 197.7 173.9 184.3 N.A. 88.5 147.8 173.1 119.1 202.2
18 Shahdol 16.6 16.4 17.2 N.A. 18.0 20.7 16.9 17.1 33.3
320162/MCB/ISA/AA/01 22 May 2013

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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
19 Anuppur 10.2 9.0 10.2 N.A. 8.2 9.1 8.8 7.0 17.4
20 Umaria 23.1 20.8 21.9 N.A. 18.6 22.7 20.5 19.9 28.6
21 Indore 287.2 304.9 88.7 N.A. 244.3 134.4 220.1 271.3 252.7
22 Dhar 350.7 341.4 138.1 N.A. 500.0 298.8 354.9 453.5 379.5
23 Jhabua 53.7 56.6 49.0 N.A. 77.3 33.6 44.6 51.6 63.5
24 Khargone 149.2 126.9 57.9 N.A. 181.8 98.5 224.9 276.6 340.0
25 Barwani 61.2 50.0 18.0 N.A. 51.9 62.1 49.1 83.1 114.9
26 Khandwa 88.1 73.5 88.8 N.A. 107.9 115.6 120.1 154.8 211.1
27 Burhanpur 17.5 16.7 16.5 N.A. 19.9 20.2 19.4 24.8 31.7
28 Alirajpur 0.0 0.0 0.0 N.A. 0.0 25.3 24.8 28.6 32.9
29 Ujjain 223.4 345.6 114.1 N.A. 341.1 184.3 318.6 237.8 375.0
30 Mandsaur 57.5 134.4 51.1 N.A. 131.2 126.6 156.9 122.7 229.3
31 Neemuch 49.0 74.4 63.2 N.A. 59.0 74.9 61.8 92.1 101.5
32 Ratlam 182.4 203.8 138.0 N.A. 228.9 196.4 218.3 276.8 309.4
33 Dewas 218.8 225.4 89.1 N.A. 215.0 211.0 247.9 247.5 375.0
34 Shajapur 148.3 180.2 68.2 N.A. 164.9 134.8 221.4 182.1 297.7
35 Morena 210.4 207.3 220.7 N.A. 159.8 184.8 179.8 221.8 222.7
36 Sheopur Kalan 109.4 78.7 90.9 N.A. 93.4 94.3 144.0 173.5 191.2
37 Bhind 151.0 133.3 142.2 N.A. 102.5 177.9 214.2 185.2 163.3
38 Gwalior 274.3 236.3 244.9 N.A. 111.4 229.1 189.9 254.0 346.8
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Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
39 Shivpuri 262.4 216.5 225.5 N.A. 110.1 224.0 250.4 298.1 247.8
40 Guna 106.0 103.2 124.9 N.A. 119.4 143.4 127.4 187.9 243.1
41 Ashoknagar 123.8 120.4 138.8 N.A. 119.9 148.0 173.0 193.0 233.2
42 Datia 180.9 139.1 148.5 N.A. 151.8 229.4 290.8 260.2 346.1
43 Bhopal 108.2 135.4 115.2 N.A. 120.1 126.7 147.1 127.5 304.2
44 Sehore 346.8 364.9 233.4 N.A. 189.0 226.9 401.1 327.2 666.8
45 Raisen 277.1 279.3 311.9 N.A. 203.9 266.9 376.5 278.4 622.0
46 Vidisha 332.9 335.2 310.8 N.A. 202.4 259.6 370.4 341.6 402.1
47 Rajgarh 102.7 102.6 45.9 N.A. 103.7 85.8 145.3 140.4 282.2
48 Hoshangabad 439.3 449.7 429.0 N.A. 698.6 607.4 700.1 854.0 1135.4
49 Harda 179.8 238.6 231.1 N.A. 153.4 168.0 181.6 560.7 639.9
50 Betul 125.2 128.8 145.1 N.A. 412.6 369.6 407.0 137.3 281.0
Non Reported 7.4 7.4 7.4 N.A. 7.4 7.4 7.4 7.4 7.4
State 7364.6 7327.4 5957.7 N.A. 6736.7 7279.6 8872.7 9227.2 12703.2
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Confidential

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Betul 11705 33047 17573 24948 25727 60251 29725 91862 69513 82268
2 Bhopal 23330 52900 48271 88307 86209 51215 53075 140663 178733 261643
3 Harda 132375 204832 114803 216925 260224 353681 255571 312373 453863 464200
4 Hoshangabad 344708 385572 302337 406767 479281 673887 509486 611476 847351 998493
5 Raisen 84321 177899 152421 87284 100889 135917 109270 260513 375758 512195
6 Rajgarh 37711 89686 78828 40666 130838 90279 59194 153371 208688 283189
7 Sehore 123628 222887 143336 121465 207610 215006 135712 296672 436969 506010
8 Vidisha 122584 167179 150908 119927 155679 125710 116095 240269 339373 423289
9 Alirajpur 12442 14057 12297 13577 20107 14294 18725 9694 10760 7135
10 Badwani 9086 11844 17750 20196 38373 29988 14448 17987 31118 41086
11 Burhanpur 1855 6501 2583 2817 7682 21271 9732 6329 12024 11188
12 Dhar 104407 219042 196744 153720 325773 278790 162089 199203 286591 298197
13 Indore 112082 208151 128666 44632 251835 215229 112581 170223 294535 269210
14 Jhabua 41476 48576 50107 48308 39728 56452 43338 42259 40450 43882
15 Khandwa 34820 30607 35613 50319 129600 86217 79436 90299 133707 156492
16 Khargone 35866 46224 47050 36621 83425 155965 70716 120286 174343 196079
17 Dewas 53984 153601 115988 80333 189630 214748 141619 165153 341695 334456
18 Mandsour 6786 8886 44342 17803 109211 85025 55050 123018 86674 159112
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Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Neemuch 27268 19787 49228 86585 145758 161547 52124 80706 124328 125768
20 Ratlam 15372 42243 54049 32494 130094 151022 44831 86886 107144 164427
21 Shajapur 55421 108925 100211 87388 167407 124488 47914 138299 156052 239204
22 Ujjain 31422 118074 98759 45592 263189 300612 66342 180354 267268 400991
23 Ashoknagar 42132 71283 52754 36039 55296 49887 75525 96073 157955 152912
24 Bhind 34845 29881 10414 27080 43932 54215 73065 60686 99864 118580
25 Datia 68588 60124 25017 35504 87779 87198 126988 150860 223675 180537
26 Guna 30946 33730 47906 51985 92878 73050 97148 116420 192514 183988
27 Gwalior 59913 103706 43118 65472 83866 96615 150230 158083 198436 160763
28 Morena 63170 58806 16922 58213 68537 73410 77496 102659 146344 154475
29 Sheopur 37378 35309 34709 54477 74462 101207 71538 85716 159288 223454
30 Shivpuri 56264 81244 56203 59209 78491 49325 149263 152919 201982 280208
31 Chhatarpur 41664 105645 107418 53470 30836 7070 177835 145627 165158 281249
32 Damoh 29471 55343 58940 67725 69246 47998 60202 97265 99459 126435
33 Panna 12497 9676 7582 5566 3882 3213 11666 16551 20589 62809
34 Sagar 93376 152353 180426 128469 128008 56100 140563 214801 287510 321752
35 Tikamgarh 89289 157514 101735 59118 50941 21156 237595 213731 244239 437649
36 Balaghat 7556 19305 6405 15909 14245 14472 6346 6275 3798 7381
37 Chhindwara 26599 38173 57271 63252 62730 78111 43700 133300 135756 126418
38 Dindori 4274 11310 10108 6972 9019 8036 9425 12283 12497 12867
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Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Jabalpur 73976 82071 80481 90649 119138 154398 186683 207845 291626 343276
40 Katni 49833 66539 48528 68326 59973 86510 75646 77825 88290 82344
41 Mandla 8045 11052 12832 9963 16548 19530 27957 33109 33792 45530
42 Narsingpur 42732 42512 29574 40532 38570 50178 60860 82020 111196 0
43 Seoni 33773 48691 34368 55429 67705 101939 63788 140766 170468 216564
44 Anuppur 208 383 476 393 393 492 801 783 842 2621
45 Rewa 35042 31824 41844 45459 53464 39244 74142 61620 48792 105800
46 Satna 63187 87050 47976 57982 52795 77105 109618 105022 112828 208733
47 Shahdol 10750 14849 19580 17056 18877 16674 9252 14546 12165 14500
48 Sidhi 8357 16862 33136 28885 27247 11515 32221 56377 15628 34199
49 Singrauli 0 0 0 0 0 0 0 0 2118 0
50 Umaria 9590 12971 7979 7472 12116 9369 18467 17105 20350 19781
State 2456104 3808726 3135566 3037280 4769243 4989611 4355093 6098162 8234096 9883339
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Confidential

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Bhopal 0 10609 12147 0 3570 43514 27309 92288 117085 241604
2 Sehore 6784 16051 27029 0 1201 105958 67656 194513 233992 415721
3 Raisen 39465 63704 86632 0 8061 86630 126478 210127 326778 511572
4 Biora 0 759 2806 0 56
5 Vidisha 238 2136 7319 0 144 23069 18627 78738 135170 325127
6 Betul 22 67 86 0 24 34715 20099 64831 61269 98933
7 H'bad 53874 72520 118770 0 13768 412263 405542 545052 731102 950528
8 Harda 11330 24530 70266 0 8134 238665 241879 314298 467133 539855
9 Indore 0 521 7108 0 184 87351 8015 72003 128350 217551
10 Jhabua 0 0 143 0 0 26815 1777 9367 13474 26130
11 Dhar 0 0 3387 0 1857 75700 22698 90671 168561 230253
12 Khargone 0 0 514 0 0 68794 12026 78161 113088 169401
13 Badwani 0 0 10 0 0 16473 3894 10147 25133 40742
14 Khandwa 12 0 99 0 0 26669 21257 57594 104552 178217
15 Burhanpur 0 0 4 0 0 18202 7397 4000 7644 7627
16 Ujjain 0 688 34349 0 2730 206768 5307 119511 179529 361380
17 Dewas 0 2768 8191 0 500 81172 21821 109036 166466 280488
18 Ratlam 0 0 4975 0 1831 83027 5005 29095 43034 107223
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Mandsour 0 0 934 0 480 28808 4854 33626 32973 90745
20 Neemuch 0 0 551 0 781 26092 5086 5052 18979 42972
21 Shajapur 0 7395 14243 0 71 57561 6886 105037 124028 248057
22 Sagar 3530 8569 4860 0 5 19469 53347 94877 110468 235440
23 Damoh 2029 2513 3063 0 34 21697 39649 60080 65530 133253
24 Panna 1005 1509 1781 0 0 828 7268 12416 19206 58346
25 Chhatarpur 17567 29499 10821 0 0 1778 53541 73003 83528 179432
26 Tikamgarh 12743 32597 12214 0 0 5441 93770 66945 65510 164710
27 Jabalpur 2583 1055 557 0 0 61942 86825 74788 139750 266974
28 Chhindwara 0 50 0 0 82 26828 13963 71721 85161 139291
29 Balaghat 0 0 0 0 0 3158 2503 1989 2740 3766
30 Mandla 337 362 244 0 73 9929 11006 16952 21467 36394
31 Dindori 0 0 0 0 0 42 275 650 1110 3685
32 Seoni 120 1734 2046 0 36 58649 30021 79410 109087 195877
33 Narsingpur 4496 6805 3503 0 168 36001 42912 68803 112711 156303
34 Katni 1952 1950 1174 0 2 18231 16098 28003 44258 95532
35 Rewa 720 831 363 0 68 11366 23585 21877 25596 98206
36 Sidhi 5301 5728 1195 0 2 9207 7680 7181 8223 20629
37 Satna 24595 1186 1025 0 0 17586 45944 44592 43189 126429
38 Shahdole 1485 2461 1444 0 0 4024 7932 8830 11088 18013
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Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Anoop Pur 0 0 9 0 0 36 199 205 318 1919
40 Umaria 2014 2647 2064 0 315 3132 6940 7353 8601 20157
41 Gwalior 1788 8646 7294 0 9 66380 64817 61344 103458 171078
42 Datia 5089 8140 5645 0 828 42277 36977 68372 79521 160628
43 Shivpuri 534 10297 3496 0 454 18171 55104 78005 86772 194162
44 Guna 0 2219 7835 0 4108 27961 52587 54593 83523 159213
45 Ashoknagar 0 0 1416 0 0 13190 24419 36519 56453 116359
46 Bhind 387 1037 174 0 8 28268 24001 32273 48106 81454
47 Murena 0 464 0 0 0 41981 47493 74553 86117 133784
48 Sheopurkala 19 16668 12119 0 7895 88924 58910 87248 147196 214234
49 Alirajpur 0 808 1079 3383 3428
50 Rajgarh 25130 17707 70392 103021 217432
51 Singroli 0 7251 10349 11528 17442
Grand Total 7817 47471 37979 0 13302 352282 390074 574727 809078 1469214
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Co-
Mandi operative
1 Bhopal 5300 25000 45740 27000 0 41537 1700 8310 154587
2 Hoshangabad 130421 80000 0 11000 48000 657747 11500 12260 950928
3 Harda 65570 0 0 3000 0 188620 4200 3900 265290
4 Sehore 27000 0 0 9600 48490 130594 6400 14360 236444
5 Rajgarh 17000 0 0 15000 0 130868 6000 1485 170353
6 Betul 13000 10000 0 7000 0 64072 3000 12790 109862
7 Raisen 43537 0 0 17500 0 179498 5000 9950 255485
8 Vidisha 44150 10000 0 18000 0 278189 4500 16050 370889
9 Bhind 17200 0 26000 11900 0 37880 2200 15450 110630
10 Datia 27600 7500 0 7000 0 31057 500 5355 79012
11 Guna 51440 0 0 14000 0 82247 7600 9300 164587
12 Ashoknagar 26000 11920 0 6000 0 75307 3000 0 122227
13 Gwalior 37300 12500 19750 14050 0 214406 3400 7990 309396
14 Murena 15400 0 64250 11000 30200 207824 6400 8200 343274
15 Sheopur 9200 11280 31000 5300 0 49516 4900 0 111196
16 Shivpuri 32800 0 0 8100 0 118366 3100 6450 168816
17 Balaghat 18600 44290 10000 20950 0 4798 3300 9710 111648
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Confidential
Co-
Mandi operative
18 Chindwara 28250 0 0 11800 27052 62493 4900 19530 154025
19 Jabalpur 42350 10640 0 6875 0 196597 9100 15500 281062
20 Katni 5400 8640 25100 10000 0 93349 2000 0 144489
21 Narsinghpur 18666 0 19150 10700 0 85548 7100 20200 161364
22 Seoni 19000 8340 0 10000 0 77989 2800 7350 125479
23 Mandla 9180 0 0 17625 0 9936 2200 8090 47031
24 Dindori 4530 0 0 2000 0 0 0 0 6530
25 Dhar 31900 0 5000 12775 0 96858 13700 13070 173303
26 Indore 14310 0 77750 24000 0 283865 8500 10900 419325
27 Khandwa 3125 0 97367 17150 0 111510 7950 26115 263217
28 Barwani 10977 0 0 1000 0 15500 0 27477
29 Jhabua 20600 5000 0 3000 0 17653 5100 15030 66383
30 Alirajpur 6800 0 0 0 0 0 0 0 6800
31 Khargone 22450 0 0 8000 10944 51321 20700 33630 147045
32 Dewas 75050 0 0 13850 0 147083 8200 10620 254803
33 Burhanpur 0 0 27200 5000 0 1855 7350 0 41405
34 Ujjain 48916 15000 0 12000 38400 233371 10500 23845 382032
35 Mandsour 41400 0 0 8650 0 83132 3200 19370 155752
36 Neemuch 21846 0 0 7000 0 143270 2100 0 174216
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
37 Ratlam 43400 8980 0 19500 0 160431 22400 15300 270011
38 Rajapur 38385 0 8000 12000 0 186987 5500 15420 266292
39 Chhatarpur 28400 10000 0 10400 0 144646 2400 12850 208696
40 Panna 5000 0 0 6000 0 31333 200 4325 46858
41 Tikamgarh 22800 33140 0 15400 0 50927 2400 11200 135867
42 Sagar 47000 3780 0 18900 0 167730 10500 0 247910
43 Damoh 13600 0 0 12000 0 227594 1500 10200 264894
44 Anuppur 4000 0 0 0 0 0 500 4500
45 Satna 36986 6920 0 18280 0 22389 4500 12040 101115
46 Shahdol 12000 5640 0 21375 0 0 2000 0 41015
47 Singroli 2000 0 0 0 0 0 0 0 2000
48 Sidhi 7800 0 0 8575 4000 0 0 14830 35205
49 Rewa 14400 0 0 9575 0 12696 700 7950 45321
50 Umaria 2800 0 0 3000 0 0 0 0 5800
State 1284839 328570 456307 542830 207086 5193089 260200 468925 8741846
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320162/MCB/ISA/AA/01 22 May 2013

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Base Case
7. Tax Computation
320162/MCB/ISA/AA/01 22 May 2013


P & P Exp. 218.77 7.14%
VGF 0.00

Total 3063.52

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Revenues
Storage Charge
Variable Charge 35.64 37.74 39.97 42.33 44.83 47.48 50.29 53.26 56.41 59.74 63.27 67.01 70.96 75.16 79.60 84.30 89.28 94.55 100.14 106.06 112.32 118.96 125.98 133.43 141.31 149.66 158.50 167.86 177.78 188.28
Total Revenues 569.09 602.71 638.32 676.03 715.97 758.27 803.06 850.51 900.75 953.97 1010.33 1070.01 1133.23 1200.18 1271.08 1346.17 1425.70 1509.93 1599.13 1693.60 1793.66 1899.62 2011.85 2130.70 2256.58 2389.89 2531.08 2680.61 2838.98 3006.70
Expenditure
Power Cost 72.00 74.16 76.38 78.68 81.04 83.47 85.97 88.55 91.21 93.94 96.76 99.66 102.65 105.73 108.91 112.17 115.54 119.01 122.58 126.25 130.04 133.94 137.96 142.10 146.36 150.75 155.27 159.93 164.73 169.67
Fumigation Cost 16.20 17.01 17.86 18.75 19.69 20.68 21.71 22.80 23.93 25.13 26.39 27.71 29.09 30.55 32.07 33.68 35.36 37.13 38.99 40.94 42.98 45.13 47.39 49.76 52.25 54.86 57.60 60.48 63.51 66.68
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Depreciation 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
EBIT 165.12 187.87 212.07 237.80 265.16 248.44 279.37 312.25 347.19 384.33 377.98 419.92 464.48 511.81 562.09 615.51 672.23 732.48 796.46 864.40 936.54 1013.13 1094.44 1180.76 1272.39 1369.65 1472.88 1582.45 1698.72 1822.12
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Tax 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99


P & P Exp. 218.77

Total Dep 3054.58 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44

Total WDV 3054.58 2678.27 2350.22 2064.02 1814.13 1595.77 1404.80 1237.64 1091.21 962.84 850.21 751.30 664.38 587.93 520.64 461.36 409.11 363.01 322.31 286.35 254.56 226.44 201.53 179.47 159.92 142.57 127.17 113.50 101.34 90.54 80.93

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Current Assets
Debtors 47.42 50.23 53.19 56.34 59.66 63.19 66.92 70.88 75.06 79.50 84.19 89.17 94.44 100.01 105.92 112.18 118.81 125.83 133.26 141.13 149.47 158.30 167.65 177.56 188.05 199.16 210.92 223.38 236.58 250.56
Current Liabilities
Margin Money 8.93 9.58 10.27 11.00 11.78 9.73 10.60 11.52 12.50 13.53 11.76 12.92 14.15 15.46 16.84 18.30 19.86 21.50 23.24 25.09 27.04 29.12 31.32 33.64 36.11 38.72 41.49 44.43 47.54 50.84
Bank Finance 26.80 28.75 30.82 33.01 35.33 29.20 31.80 34.56 37.49 40.59 35.29 38.77 42.46 46.37 50.52 54.91 59.57 64.50 69.73 75.27 81.13 87.35 93.95 100.93 108.33 116.17 124.48 133.29 142.62 152.51

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 2144.46 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 62.04 62.04 55.14 48.25 41.36 34.46 27.57 20.68 13.79 6.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 62.04 60.31 53.42 46.53 39.63 32.74 25.85 18.96 12.06 5.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 62.04 58.59 51.70 44.80 37.91 31.02 24.13 17.23 10.34 3.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 62.04 56.87 49.97 43.08 36.19 29.29 22.40 15.51 8.62 1.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 1531.76 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 45.95 45.95 40.85 35.74 30.64 25.53 20.42 15.32 10.21 5.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 45.95 44.68 39.57 34.46 29.36 24.25 19.15 14.04 8.94 3.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 45.95 43.40 38.29 33.19 28.08 22.98 17.87 12.76 7.66 2.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 45.95 42.12 37.02 31.91 26.81 21.70 16.59 11.49 6.38 1.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 183.81 176.15 155.73 135.31 114.88 94.46 74.04 53.61 33.19 12.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 612.70 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 16.08 16.08 14.30 12.51 10.72 8.94 7.15 5.36 3.57 1.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 16.08 15.64 13.85 12.06 10.28 8.49 6.70 4.91 3.13 1.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 16.08 15.19 13.40 11.62 9.83 8.04 6.25 4.47 2.68 0.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 16.08 14.74 12.96 11.17 9.38 7.59 5.81 4.02 2.23 0.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 64.33 61.65 54.51 47.36 40.21 33.06 25.91 18.76 11.62 4.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Add: SLM Dep 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
Less: WDV Dep 376.32 328.05 286.20 249.89 218.36 190.97 167.16 146.43 128.37 112.64 98.91 86.92 76.45 67.29 59.27 52.25 46.10 40.70 35.96 31.79 28.13 24.90 22.06 19.56 17.35 15.40 13.67 12.15 10.80 9.61
Income/Loss -337.12 -256.00 -162.62 -73.27 12.91 51.88 133.89 214.74 294.96 375.03 400.28 453.78 508.37 564.39 622.20 682.10 744.43 809.48 877.58 949.02 1024.11 1103.18 1186.54 1274.53 1367.48 1465.75 1569.71 1679.74 1796.24 1919.65
Unabsorbed Loss -3062.82 -3399.94 -3655.94 -3818.56 -3891.83 -3878.93 -3827.04 -3693.15 -3478.41 -3183.45 -2808.42 -2408.14 -1954.36 -1445.98 -881.59 -259.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MAT 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 121.83 133.07 145.00 157.68 171.14 185.43 200.61 216.72 233.82 251.98 271.25 291.70 313.41 336.45 360.90
Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Tax Applicable 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cash Inflows
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Cash Outflows
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
Changes in Net CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Tax Paid 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Net Cashflow 8.93 30.26 -166.87 -115.39 -72.63 -28.95 -16.87 26.77 74.81 124.48 175.89 426.18 456.46 491.68 529.09 568.84 595.74 547.45 585.90 627.06 671.05 718.01 768.08 821.43 878.24 938.68 1002.97 1071.32 1143.96 1221.15 1303.13
Opening Cash 0.00 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74
Closing Cash 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Liabilities
Equity 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06
Long Term Loan 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Assets
Gross Block 3054.58 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16
Net Block 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16 -708.60
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash & Bank 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87
Total Assets 3004.08 2714.36 2476.29 2281.14 2129.85 1979.37 1884.17 1837.22 1840.16 1894.75 2188.41 2524.08 2895.24 3304.11 3753.03 4229.20 4657.41 5124.45 5633.04 6186.04 6786.44 7437.37 8142.16 8904.27 9727.38 10615.37 11572.33 12602.59 13710.74 14901.62

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99
Interest on LTL 167.63 160.65 142.02 123.40 104.77 86.15 67.52 48.89 30.27 11.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of LTL 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Change in CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Coverage 171.09 230.10 262.84 286.85 311.78 313.69 329.96 359.21 390.09 422.70 431.48 452.98 487.99 525.18 564.70 591.35 542.79 580.97 621.84 665.51 712.14 761.86 814.84 871.25 931.28 995.13 1063.01 1135.16 1211.82 1293.24
Debt Service 167.63 398.92 380.30 361.67 343.05 324.42 305.79 287.17 268.54 249.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSCR 1.02 0.58 0.69 0.79 0.91 0.97 1.08 1.25 1.45 1.69
Minimum DSCR 0.58
Average DSCR 1.00
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Project IRR 12.14%
Equity IRR 14.05%
Average ROCE 13.67%

Silo in Hoshangabad,
Madhya Pradesh
Feasibility Report
May 2013
Confidential
Silo in Hoshangabad,
Madhya Pradesh
Report_Hoshangabad
22 May 2013
Feasibility Report
May 2013
Confidential
Setting up of Steel Grain Silo in Hoshangabad, Madhya Pradesh
Confidential

Planning Commission
other parties

commissioned it.
Confidential
Content
1. Introduction 1
1.1 Report content _______________________________________________________________________ 1
3.3.2 Movement of grain in the proposed Silo facility at Hoshangabad ________________________________ 9
4.4 Connectivity ________________________________________________________________________ 11

5.3 Mandi Arrivals _______________________________________________________________________ 22
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5.4 Procurement ________________________________________________________________________ 25

6.2 Storage Gap Assessment for Hoshangabad District _________________________________________ 32

7.1 Project Cost ________________________________________________________________________ 34
7.1.6 Contingencies _______________________________________________________________________ 39
7.2 Means of Finance ____________________________________________________________________ 40

8.1 Assumptions ________________________________________________________________________ 41
8.1.2.2 Operating Days______________________________________________________________________ 41
8.1.4.1 Power Cost _________________________________________________________________________ 44
8.1.4.2 Manpower Cost______________________________________________________________________ 44
8.1.4.4 Fumigation Cost _____________________________________________________________________ 45
8.1.4.6 Insurance Cost ______________________________________________________________________ 46
8.1.4.8 Depreciation ________________________________________________________________________ 46
8.1.4.9 Taxation ___________________________________________________________________________ 47
9.1 Change in Capex ____________________________________________________________________ 48
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9.3 Change in Opex _____________________________________________________________________ 49
F.1. Buhler _____________________________________________________________________________ 68
F.2. Scafco _____________________________________________________________________________ 76
F.3. Agrosaw ___________________________________________________________________________ 85
Tables
Table 5.3: Wheat Production in Hoshangabad (2003-04 to 2011-12) ____________________________________ 20
Table 5.5: Mandi Arrivals in Hoshangabad (2002-03 to 2012-13) _______________________________________ 23
Table 5.7: Procurement of Wheat in Hoshangabad (2003-04 to 2012-13) ________________________________ 27
Table 6.4: Storage Facilities in Hoshangabad (as on 28-09-2012) ______________________________________ 31
Table 6.5: Storage Gap Assessment for Hoshangabad _______________________________________________ 33

Confidential

Table 8.9: Tax Rates __________________________________________________________________________ 47
Figures
Figure1: Location Map _______________________________________________________________________ vii
Figure 5.3: Wheat Production in Hoshangabad (2002-03 to 2012-13*)____________________________________ 21
Figure 5.5: Mandi Arrivals of Wheat in Hoshangabad (2002-03 to 2012-13) _______________________________ 24
Figure 5.7: Wheat Procurement in Hoshangabad (2003-04 to 2012-13)___________________________________ 28
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Executive Summary
capacity of 50,000 MT has been considered at the proposed site in Hoshangabad. This facility would have
4 bins, each bin of capacity 12,500 MT.
Junheta, Bankhedi village having an area of about 7 acres (following map). The proposed site is about 11
kms from the nearest rail head. The Pradhan Mantri Gram Sadak Yojna (PMGSY) road from the rail head
is connecting the site giving the site an advantage of rail connectivity. The procurement centres are within
the range of 20 kms of the site and have a total procurement capacity of about 96,000 MT of wheat.
Figure1: Location Map
Proposed Site, Village: Junheta,

Bankhedi
years in Madhya Pradesh. The same trend is noted in the Hoshangabad district as well.
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Contingency 135.04
Margin Money 8.93
tabulated as:

Equity 919.06 30.00%
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Revenue Assumptions
Revenues (2013)
years at 100% utilization. Financial analysis has been carried out for 30 years of concession period. The
Equity IRR 14.05% -
availability and the same has been given as:

Base
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
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Base
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis
IRR is greater than 12% (minimum expected rate of return on equity) at all levels of utilization availability of
Project IRR 12.14% 11.53% 10.86% 10.49% 9.69% 9.23%
Equity IRR 14.05% 13.22% 12.31% 11.80% 10.68% 10.03%
DSCR 1.00 1.00 1.00 1.00 1.00 1.00
Payback Period 9.96 9.96 9.96 9.96 9.96 9.96
life.

0% 10% 20% 25% 30% 35% 40%
100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
after 10 years
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
return on Equity) at any level of utilization of facilities after 10 years and availability of VGF greater than
20%.
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1. Introduction


This is the Feasibility Report of the Silo Project for Hoshangabad for the
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heads:



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years.
! "
! "
facility at Hoshangabad would be 50,000 MT. It is proposed that the
facility will have 4 bins each having a capacity of 12,500 MT.

# " $ %

process
• Land allotment




monitored Silos.

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Government regulations & laws.
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! & '


18 months.



! (

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also available.

!! " ( "



Source: MM Research
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equipment.
!! % % "

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Depot Bagging
Debagging

Storage
Despatch – Chain
Conveyor, Bucket
Dispatch


storage point
godowns for storage
for issue to PDS
Source: MM Analysis
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!! ) % "
*
facility.

Mechanized Receipts
Wheat - Farmers
Weighing
Storage
Dispatch – Chain
Conveyor, Bucket
Trucks for Further
Dispatch Bagging
Source: MM Analysis

as an Annexure G.
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# +
Hoshangabad is one of locations for the proposed Silo facility in

Madhya Pradesh. The site for setting up the proposed steel grain silo of
50,000 MT of capacity is located in the Bankhedi village on an area of
Khasra No. 124, Village Junheta, Bankhedi, Hoshangabad, Madhya

Pradesh.

below:
Proposed Site, Village: Junheta,

Bankhedi
# ' " ' , '% - %
The proposed site land of 7 acres in Bankhedi village has been allotted
for the proposed project for MPWLC. The possession of the same has
been given to MPWLC. The documents pertaining to the land
premises.
#! .
MW. As informed by the MPWLC representative, Mr. Hindoriya (Branch
Manager), the electricity to the proposed site can be easily made
available from the nearest LT line passing near the boundary of the site.
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However, the separate transformer is required at the project site for

at the site.
##

The Branch Manager of MPWLC at Hoshangabad, Mr. Hindoriya has

giving the site an advantage in rail connectivity.
Also, the state highway (Jabalpur – Bhopal) is approximately 4 kms

from the location. The PMGSY road (single lane) connects the site to
the State Highway.

matter.

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Paliya Pipariya
Procurement Pipariya Mandi
Centres within 20 Sandiya Bankhedi
kms radius of Silo Malanwada Umardha
Purenakala Krupa
Kapuri Chargaon
Anhai Surela
Aamgaon Jamuniya
Rail Head / SH
Transportation
Source: MM Analysis

Paliya Pipariya Malanwada Kapuri
Sandiya Purenakala Aanhai
Pipariya Mandi Umardha Krupa
Surela Jamuniya Kamti
Aamgaon Bankhedi Chargaon
Source: MPWLC
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/ 0 "'

below:
State Farmers Field

Production

Markfed

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Source: MM Analysis


location.
/ 0 '
/ " + "


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(%) (%)
2002-03 3381 4923 1456 -
2003-04 4091 7365 1800 49.60% 23.6
2004-05 4200 7327 1745 -0.52% -3.1
2005-06 3785 6200 1638 -15.38% -6.1
2006-07 4275 7848 1836 26.58% 12.1
2007-08 4101 6737 1643 -14.16% -10.5
2008-09 4010 7280 1815 8.06% 10.5
2009-10 4471 8873 1985 21.88% 9.3
2010-11 4645 9227 1986 3.99% 0.1
2011-12 4901 12703 2592 37.67% 30.5
2012-13 5434 16104 2964 26.77% 14.3

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18
16.1
16
14
Production (in MMT)
12.7
12
10 8.9 9.2
7.4 7.8
7.3
8 6.2 6.7 7.3
6
4
2
0
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year


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• 2009-10: 10.62%
• 2011-12: 18.69%
• 2012-13: 14.28%
crops:

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• Seed treatment
• Weed control


the soil

increase

of INR 150/quintal.

2012-13.

The expectation for year on year growth rate is around 9% for next

Pradesh:
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(In Lakh Ha)
2000-01 7.36 -
2001-02 9.40 27.72%
2002-03 7.69 -18.19%
2003-04 10.07 30.95%
2004-05 10.35 2.78%
2005-06 10.13 -2.13%
2006-07 9.37 -7.50%
2007-08 9.48 1.17%
2008-09 9.71 2.43%
2009-10 8.87 -8.65%
2010-11 9.76 10.03%
2011-12 16.34 67.42%
2012-13 20.21 23.66%

below.
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connection.
/ + "
The wheat production of Hoshangabad district for the last 10 years is as

tabulated below.
Table 5.3: Wheat Production in Hoshangabad (2003-04 to 2011-12)

2002-03 0.376
2003-04 0.439
2004-05 0.450
2005-06 0.429
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2006-07 NA
2007-08 0.699
2008-09 0.607
2009-10 0.700
2010-11 0.854
2011-12 1.135
2012-13* (proj.) 1.284
MMT in 2009-10. But in 2010-11, the production suddenly increased to
0.85 MMT. Subsequently in 2011-12, the production increased to about
1.135 MMT. The following graph depicts the trend in wheat production
in Hoshangabad district over the period 2002-03 to 2012-13*.
Figure 5.3: Wheat Production in Hoshangabad (2002-03 to 2012-13*)
1.4
1.28
1.2
1.14
Production (in MMT)
0.85
0.8 0.70
0.70
0.61
0.6
0.44 0.45 0.43
0.4 0.38
0.2
0
2002-03 2003-04 2004-05 2005-06 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13*
Year

The short term (2008-09 to 2012-13) CAGR for Hoshangabad district is

about 20.57% signifying considerable growth in the recent years & an
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term (2003-04 to 2012-13) CAGR is about 12.65% which indicates that
in the long run the growth has been moderate as compared to the
growth rate in the recent years. However, it can be observed from the
year on year trend of production in Hoshangabad that the production
has suddenly increased from year 2007-08 onwards.

/! )

/! " + "

2003-04 2.456 18.10%
2004-05 3.809 55.07%
2005-06 3.136 -17.67%
2006-07 3.037 -3.13%
2007-08 4.769 57.02%
2008-09 4.990 4.62%
2009-10 4.355 -12.72%
2010-11 6.098 40.02%
2011-12 8.234 35.03%
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2012-13 9.883 20.03%

2003-04 to 2012-13.

12.00
9.88
10.00
8.23
8.00
6.10
6.00
4.77 4.99
4.36
3.81
4.00 2.46 3.14 3.04
2.00
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
/! + "
The Mandi Arrivals of Hoshangabad district for the last 10 years is as

tabulated below
Table 5.5: Mandi Arrivals in Hoshangabad (2002-03 to 2012-13)

2002-03 0.309 -
2003-04 0.345 11.68%
2004-05 0.386 11.85%
2005-06 0.302 -21.59%
2006-07 0.407 34.54%
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2007-08 0.479 17.83%
2008-09 0.674 40.60%
2009-10 0.509 -24.40%
2010-11 0.611 20.02%
2011-12 0.847 38.57%
2012-13 0.998 17.84%
The short term CAGR (2008-09 to 2012-13) for Hoshangabad district is

about 10.33% indicating considerable increase in Mandi Arrivals. But
the long term CAGR (2003-04 to 2012-13) for Mandi Arrivals is about
12.54% which indicates that an increasing trend of Mandi Arrival in the
district has been registered over decade. The following graph depicts
the year-wise Mandi Arrivals for Hoshangabad district for period 2002-
03 to 2012-13.
Figure 5.5: Mandi Arrivals of Wheat in Hoshangabad (2002-03 to 2012-13)
1.2
1 0.998
0.847
0.8
0.674
0.6 0.611
0.407 0.479 0.509
0.386
0.4 0.345
0.309 0.302
0.2
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
It can be observed from the above graph that the mandi arrivals in
Hoshangabad district have increased steeply over the last 4 years.

Appendix C.
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/# ' %

/# " + "


Years Procurement (in MMT) Y.O.Y Growth Rate(%)
2003-04 0.200 -44.50%
2004-05 0.349 74.34%
2005-06 0.484 38.77%
2006-07 0.000 -
2007-08 0.057 -88.12%
2008-09 2.410 4092.61%
2009-10 1.967 -18.37%
2010-11 3.538 79.83%
2011-12 4.965 40.35%
2012-13 8.508 71.35%
Source: MPSCSCL

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9
8.508
8
7
5 4.965
4
3.538
3
2.41 1.967
2
1 0.2 0.484
0.349 0.057
0
0
2006-07
2003-04
2004-05
2005-06
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
/# + "

procurement by State Agencies in Hoshangabad district for the last 10
years is as tabulated below.
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Table 5.7: Procurement of Wheat in Hoshangabad (2003-04 to 2012-13)

2002-03 0.135
2003-04 0.054
2004-05 0.073
2005-06 0.119
2006-07 0.000
2007-08 0.014
2008-09 0.412
2009-10 0.406
2010-11 0.545
2011-12 0.731
2012-13 0.951
Source: MPSCSCL


the State agencies in the Hoshangabad district is about 23.22% which
shows sharp increasing trend within short period of time. The following
graph depicts wheat procurement in Hoshangabad district over the
period 2003-04 to 2012-13
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Figure 5.7: Wheat Procurement in Hoshangabad (2003-04 to 2012-13)

1
0.951
0.9
0.8 0.731
0.7
0.6 0.545
0.406
0.5
0.412
0.4
0.3
0.2 0.135 0.119
0.054 0.073
0.1 0 0.014
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
// "'%% 0 "

following table.

State Hoshangaba State Hoshangaba State Hoshangaba
d District d District d District
2002-03 4.923 0.376 - 0.309 - 0.135
2003-04 7.365 0.439 2.456 0.345 0.200 0.054
2004-05 7.327 0.450 3.809 0.386 0.349 0.073
2005-06 6.200 0.429 3.136 0.302 0.484 0.119
2006-07 7.848 0.000 3.037 0.407 0.000 0.000
2007-08 6.737 0.699 4.769 0.479 0.057 0.014
2008-09 7.280 0.607 4.990 0.674 2.410 0.412
2009-10 8.873 0.700 4.355 0.509 1.967 0.406
2010-11 9.227 0.854 6.098 0.611 3.538 0.545
2011-12 12.703 1.135 8.234 0.847 4.965 0.731
2012-13 16.104 1.284 9.883 0.998 8.508 0.951
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These are:
Corporations


Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
MPWLC 10.47 10.97 11.29 11.47 11.61 11.66 11.86
CWC 4.52 4.52 4.56 4.56 4.56 4.56 4.56
MARKFED 5.06 5.06 5.29 5.29 5.43 5.43 5.43
FCI 3.29 3.29 3.29 3.29 3.29 3.29 3.29
MANDI BOARD 2.57 2.57 2.62 2.62 2.62 2.62 2.62
CO-OPERATIVE SO. 4.63 4.63 4.63 4.63 4.63 4.63 4.63
LVS 2.92 2.92 4.00 4.00 4.00 4.00 4.00
OILFED 2.07 2.07 2.07 2.07 2.07 2.07 2.07
M.P.AGRO 0.31 0.31 0.31 0.31 0.31 0.31 0.31
NAFED 0.15 0.15 0.15 0.15 0.15 0.15 0.15
godon scheme) 18.64 26.23 33.51 39.56 44.90 53.13 69.08
RIDF MPWLC - - - - - - -
PEG godown (Prt.) - - - - - - -
PIG (SILO) - - - - - - -
MPWLC (SILO) - - - - - - -
PACAKAGE - - - - - - -
IAP - - - - - - -
Total 54.63 62.72 71.72 77.95 83.57 91.85 108.00
capacity (%) 14.81% 14.35% 8.69% 7.21% 9.91% 17.58%
Source: MPWLC
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(in Lakh Tonnes)
of 2014-15
MPWLC 6.23 18.09
CWC 1.30 5.86
MARKFED - 5.43
FCI - 3.29
MANDI BOARD - 2.62
LVS - 4.00
OILFED - 2.07
M.P.AGRO - 0.31
NAFED - 0.15
PIG (SILO) 3.50 3.50
PACAKAGE 6.50 6.50
IAP 1.80 1.80
(Early Bird) 15.00 15.00
Total 61.18 169.18
Source: MPWLC

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tabulated below:

Agency 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Name 2014-15
MPWLC 19% 17% 16% 15% 14% 13% 11% 21% 27%
CWC 8% 7% 6% 6% 5% 5% 4% 4% 3%
MARKFED 9% 8% 7% 7% 6% 6% 5% 4% 3%
FCI 6% 5% 5% 4% 4% 4% 3% 2% 2%
MANDI
BOARD 5% 4% 4% 3% 3% 3% 2% 2% 2%
Co-Op. Soc. 8% 7% 6% 6% 6% 5% 4% 3% 3%
Private 34% 42% 47% 51% 54% 58% 64% 55% 50%
Others 10% 9% 9% 8% 8% 7% 6% 9% 11%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Source: MPWLC
Agency wise present storage facilities in the district of Hoshangabad

are tabulated below.
Table 6.4: Storage Facilities in Hoshangabad (as on 28-09-2012)

(in MT)
1 WLC 130421
2 FCI 80000
3 CWC 0
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(in MT)
4 Markfed 11000
5 Olifed 48000
6 Private 657747
7 Mandi Board 11500
Total 950928
Source: MPWLC
1 " $ % *

Hoshangabad.

production in Hoshangabad about 75% of the wheat was traded at
mandis.



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Table 6.5: Storage Gap Assessment for Hoshangabad

2011-12 (actual) 1135400 847351 950928 -103577
2012-13 1283742 998493 1118130 -119637
2013-14 1446186 1124841 1434830 -309988
2014-15 1629185 1267178 1751530 -484352
2015-16 1835341 1427526 1751530 -324004
2016-17 2067584 1608164 1751530 -143366
2017-18 2329214 1811659 1751530 60130
2018-19 2445675 1902242 1751530 150713
2019-20 2567958 1997354 1751530 245825
2020-21 2696356 2097222 1751530 345692
2021-22 2831174 2202083 1751530 450554
2022-23 2972733 2312187 1751530 560658
2023-24 3059239 2379472 1751530 627942
2024-25 3148263 2448715 1751530 697185
2025-26 3239878 2519972 1751530 768443
2026-27 3334158 2593303 1751530 841774
2027-28 3431182 2668769 1751530 917239
2028-29 3531030 2746430 1751530 994900
2029-30 3633783 2826351 1751530 1074821
2030-31 3739526 2908598 1751530 1157068
2031-32 3848346 2993238 1751530 1241708
2032-33 3960333 3080341 1751530 1328811
Source: MM Analysis
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Land 0.70
Contingency 135.04
Margin Money 8.93
2 + + %

table below.

Quantity
Land 7.00 0.00 0.00
Cost 0.70
2 3' 0
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8400 11000 924.00
Grade - M30) Cu.m
2266 3000 67.98
1000 2500 25.00
coat Sqm
500 2000 10.00
water Sqm
2 ! )
MT each.

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imported 580.63 884.72 975.17
844.00 884.72 1103.31
Import Duty 10% 58.06 88.47 97.52
CST 2.0% 5.27 0.00 2.56
Inland Freight 3.0% 17.42 26.54 29.26
Total P & M Cost *966.95 1043.97 1287.81


Savings due
Aeration System 54066 2973630 0% 2973630 0%
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Savings due
Centrifugal Fan 30686 1687752 30% 1181426 30%
Others 4048 222662 0% 222662 0%
4 Roof Exhausters 19879 1093323 0% 1093323 0%
7 (Wheat)**
Sweep Auger 33054 1817992 30% 1272594 30%
Others 6867 377663 0% 377663 0%
4 95450 5249764 25% 3937323 25%
TPH Wheat 67100 3690484 30% 2583338 30%
Dust Silo DB1 -63.3m3 14896 819253 30% 573477 30%
E2 78962 4342883 35% 2822874 35%
Others 24142 1327818 35% 863082 35%
Total 1675840 92171222 84399633
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Savings due
CST 2.0% 526730

2 # 4 , ' % .

Other Utilities
DG sets Nos. 2 2000000 40.00
- connection cost
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Other Utilities
process flow
Utilities
2 / %


2 1

2 2 ) ) 0

assumptions:
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Debtors 1 -
Stores & Spares 3 -
Bank Finance 75%

Lakhs.
2 ) 5



Lakhs) TPC)
Equity 919.06 30.00%

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6 '%

6 3 '%
concession period
6 '%

year.


Rate of Basis
Escalation
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Rate of Basis
Escalation

2011-2012 156.13
2010-2011 143.32
2009-2010 130.81
2008-2009 126.02
2007-2008 116.63
2006-2007 111.35
2005-2006 104.47
CAGR 5.91%
6 ! ' '%

Charge.


Revenues (2013)
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Revenues (2013)

Concession.


been considered.
6 # '%

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8.1.4.1 Power Cost


Load Factor 21%

table below:

Cost Total Cost
Manpower Category
Clerks 1 144000 1.44
Peons 2 72000 1.44
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Rs./quintal 2.00
weighment
Rs./quintal 3.00
bags
Source: MM Analysis

India.


Duration Unit Value
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below:

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8.1.4.9 Taxation


Tax Rates Rates
Income Tax 32.45%
MAT 20.01%
same.
6 / 5

ROCE.

Equity IRR 14.05% -
DSCR 1.00 Times
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7 8


Change in
Capex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.61% 11.16% 12.66% 13.25%
Equity IRR 14.05% 13.24% 12.57% 14.88% 15.82%
DSCR 1.00 0.94 0.89 1.06 1.12
Source: MM Analysis

in the above table.
7 '


Project IRR 12.14% 13.65% 15.14% 10.58% 9.00%
Equity IRR 14.05% 16.51% 19.15% 11.71% 9.50%
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DSCR 1.00 1.17 1.35 0.82 0.65
Source: MM Analysis

each other.


Equity IRR 14.05% 10.31%
DSCR 1.00 0.72
Source: MM Analysis

7! 8
follows:

Change in Opex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.79% 11.45% 12.44% 12.78%
Equity IRR 14.05% 13.51% 12.99% 14.54% 15.10%
DSCR 1.00 0.96 0.92 1.04 1.08
Source: MM Analysis
320162/MCB/ISA/AA/01 22 May 2013

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7# 9$5
are tabulated as:

Base Case -
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis

below:

Base
(INR lakhs) 3061.86 2755.68 2449.49 2296.40 2143.30 1990.21 1837.12
Project IRR 9.59% 10.53% 11.63% 12.27% 12.98% 13.78% 14.70%
Equity IRR 10.31% 11.65% 13.32% 14.34% 15.53% 16.97% 18.73%
DSCR 0.72 0.80 0.90 0.96 1.03 1.10 1.19
Source: MM Analysis
320162/MCB/ISA/AA/01 22 May 2013

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7/ . : 5 ; 9$5 4<'

0% 10% 20% 25% 30% 35% 40%

100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
after 10 years
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
Source: MM Analysis
' ; %% :
GoI.
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1.20 times.
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320162/MCB/ISA/AA/01 22 May 2013

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320162/MCB/ISA/AA/01 22 May 2013

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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
1 Jabalpur 154.6 156.3 184.0 N.A. 126.6 171.5 158.6 280.5 284.9
2 Katni 86.6 75.4 70.9 N.A. 39.6 74.3 70.8 59.0 96.7
3 Balaghat 17.4 7.9 22.1 N.A. 13.2 12.3 19.5 22.9 29.8
4 Chhindwara 170.2 145.6 144.1 N.A. 223.4 175.2 425.2 388.9 748.4
5 Seoni 93.1 77.7 88.8 N.A. 93.4 90.1 90.5 102.1 127.5
6 Mandla 26.8 26.6 28.5 N.A. 25.3 26.6 23.0 16.7 17.6
7 Dindori 21.9 24.0 18.4 N.A. 14.9 19.4 19.1 16.0 33.7
8 Narsinghpur 181.7 168.9 172.6 N.A. 157.5 189.7 169.4 226.9 253.2
9 Sagar 183.7 173.1 176.4 N.A. 131.8 188.2 244.5 186.5 295.1
10 Damoh 96.6 97.8 102.1 N.A. 99.8 131.8 136.3 171.4 197.0
11 Panna 78.9 76.7 74.9 N.A. 53.2 88.3 97.1 89.1 103.7
12 Tikamgarh 250.3 174.8 79.0 N.A. 28.0 209.2 168.3 99.0 241.5
13 Chhatarpur 249.6 243.7 180.5 N.A. 60.1 195.8 203.9 169.1 199.5
14 Rewa 204.4 181.1 170.8 N.A. 99.3 165.3 158.0 111.3 215.4
15 Sidhi 76.6 67.2 64.1 N.A. 54.7 47.0 45.4 38.1 67.4
16 Singroli 0.0 0.0 0.0 N.A. 0.0 28.9 35.0 35.1 60.9
17 Satna 197.7 173.9 184.3 N.A. 88.5 147.8 173.1 119.1 202.2
18 Shahdol 16.6 16.4 17.2 N.A. 18.0 20.7 16.9 17.1 33.3
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
19 Anuppur 10.2 9.0 10.2 N.A. 8.2 9.1 8.8 7.0 17.4
20 Umaria 23.1 20.8 21.9 N.A. 18.6 22.7 20.5 19.9 28.6
21 Indore 287.2 304.9 88.7 N.A. 244.3 134.4 220.1 271.3 252.7
22 Dhar 350.7 341.4 138.1 N.A. 500.0 298.8 354.9 453.5 379.5
23 Jhabua 53.7 56.6 49.0 N.A. 77.3 33.6 44.6 51.6 63.5
24 Khargone 149.2 126.9 57.9 N.A. 181.8 98.5 224.9 276.6 340.0
25 Barwani 61.2 50.0 18.0 N.A. 51.9 62.1 49.1 83.1 114.9
26 Khandwa 88.1 73.5 88.8 N.A. 107.9 115.6 120.1 154.8 211.1
27 Burhanpur 17.5 16.7 16.5 N.A. 19.9 20.2 19.4 24.8 31.7
28 Alirajpur 0.0 0.0 0.0 N.A. 0.0 25.3 24.8 28.6 32.9
29 Ujjain 223.4 345.6 114.1 N.A. 341.1 184.3 318.6 237.8 375.0
30 Mandsaur 57.5 134.4 51.1 N.A. 131.2 126.6 156.9 122.7 229.3
31 Neemuch 49.0 74.4 63.2 N.A. 59.0 74.9 61.8 92.1 101.5
32 Ratlam 182.4 203.8 138.0 N.A. 228.9 196.4 218.3 276.8 309.4
33 Dewas 218.8 225.4 89.1 N.A. 215.0 211.0 247.9 247.5 375.0
34 Shajapur 148.3 180.2 68.2 N.A. 164.9 134.8 221.4 182.1 297.7
35 Morena 210.4 207.3 220.7 N.A. 159.8 184.8 179.8 221.8 222.7
36 Sheopur Kalan 109.4 78.7 90.9 N.A. 93.4 94.3 144.0 173.5 191.2
37 Bhind 151.0 133.3 142.2 N.A. 102.5 177.9 214.2 185.2 163.3
38 Gwalior 274.3 236.3 244.9 N.A. 111.4 229.1 189.9 254.0 346.8
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
39 Shivpuri 262.4 216.5 225.5 N.A. 110.1 224.0 250.4 298.1 247.8
40 Guna 106.0 103.2 124.9 N.A. 119.4 143.4 127.4 187.9 243.1
41 Ashoknagar 123.8 120.4 138.8 N.A. 119.9 148.0 173.0 193.0 233.2
42 Datia 180.9 139.1 148.5 N.A. 151.8 229.4 290.8 260.2 346.1
43 Bhopal 108.2 135.4 115.2 N.A. 120.1 126.7 147.1 127.5 304.2
44 Sehore 346.8 364.9 233.4 N.A. 189.0 226.9 401.1 327.2 666.8
45 Raisen 277.1 279.3 311.9 N.A. 203.9 266.9 376.5 278.4 622.0
46 Vidisha 332.9 335.2 310.8 N.A. 202.4 259.6 370.4 341.6 402.1
47 Rajgarh 102.7 102.6 45.9 N.A. 103.7 85.8 145.3 140.4 282.2
48 Hoshangabad 439.3 449.7 429.0 N.A. 698.6 607.4 700.1 854.0 1135.4
49 Harda 179.8 238.6 231.1 N.A. 153.4 168.0 181.6 560.7 639.9
50 Betul 125.2 128.8 145.1 N.A. 412.6 369.6 407.0 137.3 281.0
Non Reported 7.4 7.4 7.4 N.A. 7.4 7.4 7.4 7.4 7.4
State 7364.6 7327.4 5957.7 N.A. 6736.7 7279.6 8872.7 9227.2 12703.2
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Confidential

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Betul 11705 33047 17573 24948 25727 60251 29725 91862 69513 82268
2 Bhopal 23330 52900 48271 88307 86209 51215 53075 140663 178733 261643
3 Harda 132375 204832 114803 216925 260224 353681 255571 312373 453863 464200
4 Hoshangabad 344708 385572 302337 406767 479281 673887 509486 611476 847351 998493
5 Raisen 84321 177899 152421 87284 100889 135917 109270 260513 375758 512195
6 Rajgarh 37711 89686 78828 40666 130838 90279 59194 153371 208688 283189
7 Sehore 123628 222887 143336 121465 207610 215006 135712 296672 436969 506010
8 Vidisha 122584 167179 150908 119927 155679 125710 116095 240269 339373 423289
9 Alirajpur 12442 14057 12297 13577 20107 14294 18725 9694 10760 7135
10 Badwani 9086 11844 17750 20196 38373 29988 14448 17987 31118 41086
11 Burhanpur 1855 6501 2583 2817 7682 21271 9732 6329 12024 11188
12 Dhar 104407 219042 196744 153720 325773 278790 162089 199203 286591 298197
13 Indore 112082 208151 128666 44632 251835 215229 112581 170223 294535 269210
14 Jhabua 41476 48576 50107 48308 39728 56452 43338 42259 40450 43882
15 Khandwa 34820 30607 35613 50319 129600 86217 79436 90299 133707 156492
16 Khargone 35866 46224 47050 36621 83425 155965 70716 120286 174343 196079
17 Dewas 53984 153601 115988 80333 189630 214748 141619 165153 341695 334456
18 Mandsour 6786 8886 44342 17803 109211 85025 55050 123018 86674 159112
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Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Neemuch 27268 19787 49228 86585 145758 161547 52124 80706 124328 125768
20 Ratlam 15372 42243 54049 32494 130094 151022 44831 86886 107144 164427
21 Shajapur 55421 108925 100211 87388 167407 124488 47914 138299 156052 239204
22 Ujjain 31422 118074 98759 45592 263189 300612 66342 180354 267268 400991
23 Ashoknagar 42132 71283 52754 36039 55296 49887 75525 96073 157955 152912
24 Bhind 34845 29881 10414 27080 43932 54215 73065 60686 99864 118580
25 Datia 68588 60124 25017 35504 87779 87198 126988 150860 223675 180537
26 Guna 30946 33730 47906 51985 92878 73050 97148 116420 192514 183988
27 Gwalior 59913 103706 43118 65472 83866 96615 150230 158083 198436 160763
28 Morena 63170 58806 16922 58213 68537 73410 77496 102659 146344 154475
29 Sheopur 37378 35309 34709 54477 74462 101207 71538 85716 159288 223454
30 Shivpuri 56264 81244 56203 59209 78491 49325 149263 152919 201982 280208
31 Chhatarpur 41664 105645 107418 53470 30836 7070 177835 145627 165158 281249
32 Damoh 29471 55343 58940 67725 69246 47998 60202 97265 99459 126435
33 Panna 12497 9676 7582 5566 3882 3213 11666 16551 20589 62809
34 Sagar 93376 152353 180426 128469 128008 56100 140563 214801 287510 321752
35 Tikamgarh 89289 157514 101735 59118 50941 21156 237595 213731 244239 437649
36 Balaghat 7556 19305 6405 15909 14245 14472 6346 6275 3798 7381
37 Chhindwara 26599 38173 57271 63252 62730 78111 43700 133300 135756 126418
38 Dindori 4274 11310 10108 6972 9019 8036 9425 12283 12497 12867
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Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Jabalpur 73976 82071 80481 90649 119138 154398 186683 207845 291626 343276
40 Katni 49833 66539 48528 68326 59973 86510 75646 77825 88290 82344
41 Mandla 8045 11052 12832 9963 16548 19530 27957 33109 33792 45530
42 Narsingpur 42732 42512 29574 40532 38570 50178 60860 82020 111196 0
43 Seoni 33773 48691 34368 55429 67705 101939 63788 140766 170468 216564
44 Anuppur 208 383 476 393 393 492 801 783 842 2621
45 Rewa 35042 31824 41844 45459 53464 39244 74142 61620 48792 105800
46 Satna 63187 87050 47976 57982 52795 77105 109618 105022 112828 208733
47 Shahdol 10750 14849 19580 17056 18877 16674 9252 14546 12165 14500
48 Sidhi 8357 16862 33136 28885 27247 11515 32221 56377 15628 34199
49 Singrauli 0 0 0 0 0 0 0 0 2118 0
50 Umaria 9590 12971 7979 7472 12116 9369 18467 17105 20350 19781
State 2456104 3808726 3135566 3037280 4769243 4989611 4355093 6098162 8234096 9883339
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Confidential

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Bhopal 0 10609 12147 0 3570 43514 27309 92288 117085 241604
2 Sehore 6784 16051 27029 0 1201 105958 67656 194513 233992 415721
3 Raisen 39465 63704 86632 0 8061 86630 126478 210127 326778 511572
4 Biora 0 759 2806 0 56
5 Vidisha 238 2136 7319 0 144 23069 18627 78738 135170 325127
6 Betul 22 67 86 0 24 34715 20099 64831 61269 98933
7 H'bad 53874 72520 118770 0 13768 412263 405542 545052 731102 950528
8 Harda 11330 24530 70266 0 8134 238665 241879 314298 467133 539855
9 Indore 0 521 7108 0 184 87351 8015 72003 128350 217551
10 Jhabua 0 0 143 0 0 26815 1777 9367 13474 26130
11 Dhar 0 0 3387 0 1857 75700 22698 90671 168561 230253
12 Khargone 0 0 514 0 0 68794 12026 78161 113088 169401
13 Badwani 0 0 10 0 0 16473 3894 10147 25133 40742
14 Khandwa 12 0 99 0 0 26669 21257 57594 104552 178217
15 Burhanpur 0 0 4 0 0 18202 7397 4000 7644 7627
16 Ujjain 0 688 34349 0 2730 206768 5307 119511 179529 361380
17 Dewas 0 2768 8191 0 500 81172 21821 109036 166466 280488
18 Ratlam 0 0 4975 0 1831 83027 5005 29095 43034 107223
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Mandsour 0 0 934 0 480 28808 4854 33626 32973 90745
20 Neemuch 0 0 551 0 781 26092 5086 5052 18979 42972
21 Shajapur 0 7395 14243 0 71 57561 6886 105037 124028 248057
22 Sagar 3530 8569 4860 0 5 19469 53347 94877 110468 235440
23 Damoh 2029 2513 3063 0 34 21697 39649 60080 65530 133253
24 Panna 1005 1509 1781 0 0 828 7268 12416 19206 58346
25 Chhatarpur 17567 29499 10821 0 0 1778 53541 73003 83528 179432
26 Tikamgarh 12743 32597 12214 0 0 5441 93770 66945 65510 164710
27 Jabalpur 2583 1055 557 0 0 61942 86825 74788 139750 266974
28 Chhindwara 0 50 0 0 82 26828 13963 71721 85161 139291
29 Balaghat 0 0 0 0 0 3158 2503 1989 2740 3766
30 Mandla 337 362 244 0 73 9929 11006 16952 21467 36394
31 Dindori 0 0 0 0 0 42 275 650 1110 3685
32 Seoni 120 1734 2046 0 36 58649 30021 79410 109087 195877
33 Narsingpur 4496 6805 3503 0 168 36001 42912 68803 112711 156303
34 Katni 1952 1950 1174 0 2 18231 16098 28003 44258 95532
35 Rewa 720 831 363 0 68 11366 23585 21877 25596 98206
36 Sidhi 5301 5728 1195 0 2 9207 7680 7181 8223 20629
37 Satna 24595 1186 1025 0 0 17586 45944 44592 43189 126429
38 Shahdole 1485 2461 1444 0 0 4024 7932 8830 11088 18013
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Anoop Pur 0 0 9 0 0 36 199 205 318 1919
40 Umaria 2014 2647 2064 0 315 3132 6940 7353 8601 20157
41 Gwalior 1788 8646 7294 0 9 66380 64817 61344 103458 171078
42 Datia 5089 8140 5645 0 828 42277 36977 68372 79521 160628
43 Shivpuri 534 10297 3496 0 454 18171 55104 78005 86772 194162
44 Guna 0 2219 7835 0 4108 27961 52587 54593 83523 159213
45 Ashoknagar 0 0 1416 0 0 13190 24419 36519 56453 116359
46 Bhind 387 1037 174 0 8 28268 24001 32273 48106 81454
47 Murena 0 464 0 0 0 41981 47493 74553 86117 133784
48 Sheopurkala 19 16668 12119 0 7895 88924 58910 87248 147196 214234
49 Alirajpur 0 808 1079 3383 3428
50 Rajgarh 25130 17707 70392 103021 217432
51 Singroli 0 7251 10349 11528 17442
Grand Total 7817 47471 37979 0 13302 352282 390074 574727 809078 1469214
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Co-
Mandi operative
1 Bhopal 5300 25000 45740 27000 0 41537 1700 8310 154587
2 Hoshangabad 130421 80000 0 11000 48000 657747 11500 12260 950928
3 Harda 65570 0 0 3000 0 188620 4200 3900 265290
4 Sehore 27000 0 0 9600 48490 130594 6400 14360 236444
5 Rajgarh 17000 0 0 15000 0 130868 6000 1485 170353
6 Betul 13000 10000 0 7000 0 64072 3000 12790 109862
7 Raisen 43537 0 0 17500 0 179498 5000 9950 255485
8 Vidisha 44150 10000 0 18000 0 278189 4500 16050 370889
9 Bhind 17200 0 26000 11900 0 37880 2200 15450 110630
10 Datia 27600 7500 0 7000 0 31057 500 5355 79012
11 Guna 51440 0 0 14000 0 82247 7600 9300 164587
12 Ashoknagar 26000 11920 0 6000 0 75307 3000 0 122227
13 Gwalior 37300 12500 19750 14050 0 214406 3400 7990 309396
14 Murena 15400 0 64250 11000 30200 207824 6400 8200 343274
15 Sheopur 9200 11280 31000 5300 0 49516 4900 0 111196
16 Shivpuri 32800 0 0 8100 0 118366 3100 6450 168816
17 Balaghat 18600 44290 10000 20950 0 4798 3300 9710 111648
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Confidential
Co-
Mandi operative
18 Chindwara 28250 0 0 11800 27052 62493 4900 19530 154025
19 Jabalpur 42350 10640 0 6875 0 196597 9100 15500 281062
20 Katni 5400 8640 25100 10000 0 93349 2000 0 144489
21 Narsinghpur 18666 0 19150 10700 0 85548 7100 20200 161364
22 Seoni 19000 8340 0 10000 0 77989 2800 7350 125479
23 Mandla 9180 0 0 17625 0 9936 2200 8090 47031
24 Dindori 4530 0 0 2000 0 0 0 0 6530
25 Dhar 31900 0 5000 12775 0 96858 13700 13070 173303
26 Indore 14310 0 77750 24000 0 283865 8500 10900 419325
27 Khandwa 3125 0 97367 17150 0 111510 7950 26115 263217
28 Barwani 10977 0 0 1000 0 15500 0 27477
29 Jhabua 20600 5000 0 3000 0 17653 5100 15030 66383
30 Alirajpur 6800 0 0 0 0 0 0 0 6800
31 Khargone 22450 0 0 8000 10944 51321 20700 33630 147045
32 Dewas 75050 0 0 13850 0 147083 8200 10620 254803
33 Burhanpur 0 0 27200 5000 0 1855 7350 0 41405
34 Ujjain 48916 15000 0 12000 38400 233371 10500 23845 382032
35 Mandsour 41400 0 0 8650 0 83132 3200 19370 155752
36 Neemuch 21846 0 0 7000 0 143270 2100 0 174216
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
37 Ratlam 43400 8980 0 19500 0 160431 22400 15300 270011
38 Rajapur 38385 0 8000 12000 0 186987 5500 15420 266292
39 Chhatarpur 28400 10000 0 10400 0 144646 2400 12850 208696
40 Panna 5000 0 0 6000 0 31333 200 4325 46858
41 Tikamgarh 22800 33140 0 15400 0 50927 2400 11200 135867
42 Sagar 47000 3780 0 18900 0 167730 10500 0 247910
43 Damoh 13600 0 0 12000 0 227594 1500 10200 264894
44 Anuppur 4000 0 0 0 0 0 500 4500
45 Satna 36986 6920 0 18280 0 22389 4500 12040 101115
46 Shahdol 12000 5640 0 21375 0 0 2000 0 41015
47 Singroli 2000 0 0 0 0 0 0 0 2000
48 Sidhi 7800 0 0 8575 4000 0 0 14830 35205
49 Rewa 14400 0 0 9575 0 12696 700 7950 45321
50 Umaria 2800 0 0 3000 0 0 0 0 5800
State 1284839 328570 456307 542830 207086 5193089 260200 468925 8741846
320162/MCB/ISA/AA/01 22 May 2013

Confidential

320162/MCB/ISA/AA/01 22 May 2013

Confidential
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Base Case
7. Tax Computation
320162/MCB/ISA/AA/01 22 May 2013


P & P Exp. 218.77 7.14%
VGF 0.00

Total 3063.52

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Revenues
Storage Charge
Variable Charge 35.64 37.74 39.97 42.33 44.83 47.48 50.29 53.26 56.41 59.74 63.27 67.01 70.96 75.16 79.60 84.30 89.28 94.55 100.14 106.06 112.32 118.96 125.98 133.43 141.31 149.66 158.50 167.86 177.78 188.28
Total Revenues 569.09 602.71 638.32 676.03 715.97 758.27 803.06 850.51 900.75 953.97 1010.33 1070.01 1133.23 1200.18 1271.08 1346.17 1425.70 1509.93 1599.13 1693.60 1793.66 1899.62 2011.85 2130.70 2256.58 2389.89 2531.08 2680.61 2838.98 3006.70
Expenditure
Power Cost 72.00 74.16 76.38 78.68 81.04 83.47 85.97 88.55 91.21 93.94 96.76 99.66 102.65 105.73 108.91 112.17 115.54 119.01 122.58 126.25 130.04 133.94 137.96 142.10 146.36 150.75 155.27 159.93 164.73 169.67
Fumigation Cost 16.20 17.01 17.86 18.75 19.69 20.68 21.71 22.80 23.93 25.13 26.39 27.71 29.09 30.55 32.07 33.68 35.36 37.13 38.99 40.94 42.98 45.13 47.39 49.76 52.25 54.86 57.60 60.48 63.51 66.68
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Depreciation 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
EBIT 165.12 187.87 212.07 237.80 265.16 248.44 279.37 312.25 347.19 384.33 377.98 419.92 464.48 511.81 562.09 615.51 672.23 732.48 796.46 864.40 936.54 1013.13 1094.44 1180.76 1272.39 1369.65 1472.88 1582.45 1698.72 1822.12
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Tax 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99


P & P Exp. 218.77

Total Dep 3054.58 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44

Total WDV 3054.58 2678.27 2350.22 2064.02 1814.13 1595.77 1404.80 1237.64 1091.21 962.84 850.21 751.30 664.38 587.93 520.64 461.36 409.11 363.01 322.31 286.35 254.56 226.44 201.53 179.47 159.92 142.57 127.17 113.50 101.34 90.54 80.93

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Current Assets
Debtors 47.42 50.23 53.19 56.34 59.66 63.19 66.92 70.88 75.06 79.50 84.19 89.17 94.44 100.01 105.92 112.18 118.81 125.83 133.26 141.13 149.47 158.30 167.65 177.56 188.05 199.16 210.92 223.38 236.58 250.56
Current Liabilities
Margin Money 8.93 9.58 10.27 11.00 11.78 9.73 10.60 11.52 12.50 13.53 11.76 12.92 14.15 15.46 16.84 18.30 19.86 21.50 23.24 25.09 27.04 29.12 31.32 33.64 36.11 38.72 41.49 44.43 47.54 50.84
Bank Finance 26.80 28.75 30.82 33.01 35.33 29.20 31.80 34.56 37.49 40.59 35.29 38.77 42.46 46.37 50.52 54.91 59.57 64.50 69.73 75.27 81.13 87.35 93.95 100.93 108.33 116.17 124.48 133.29 142.62 152.51

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 2144.46 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 62.04 62.04 55.14 48.25 41.36 34.46 27.57 20.68 13.79 6.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 62.04 60.31 53.42 46.53 39.63 32.74 25.85 18.96 12.06 5.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 62.04 58.59 51.70 44.80 37.91 31.02 24.13 17.23 10.34 3.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 62.04 56.87 49.97 43.08 36.19 29.29 22.40 15.51 8.62 1.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 1531.76 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 45.95 45.95 40.85 35.74 30.64 25.53 20.42 15.32 10.21 5.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 45.95 44.68 39.57 34.46 29.36 24.25 19.15 14.04 8.94 3.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 45.95 43.40 38.29 33.19 28.08 22.98 17.87 12.76 7.66 2.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 45.95 42.12 37.02 31.91 26.81 21.70 16.59 11.49 6.38 1.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 183.81 176.15 155.73 135.31 114.88 94.46 74.04 53.61 33.19 12.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 612.70 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 16.08 16.08 14.30 12.51 10.72 8.94 7.15 5.36 3.57 1.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 16.08 15.64 13.85 12.06 10.28 8.49 6.70 4.91 3.13 1.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 16.08 15.19 13.40 11.62 9.83 8.04 6.25 4.47 2.68 0.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 16.08 14.74 12.96 11.17 9.38 7.59 5.81 4.02 2.23 0.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 64.33 61.65 54.51 47.36 40.21 33.06 25.91 18.76 11.62 4.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Add: SLM Dep 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
Less: WDV Dep 376.32 328.05 286.20 249.89 218.36 190.97 167.16 146.43 128.37 112.64 98.91 86.92 76.45 67.29 59.27 52.25 46.10 40.70 35.96 31.79 28.13 24.90 22.06 19.56 17.35 15.40 13.67 12.15 10.80 9.61
Income/Loss -337.12 -256.00 -162.62 -73.27 12.91 51.88 133.89 214.74 294.96 375.03 400.28 453.78 508.37 564.39 622.20 682.10 744.43 809.48 877.58 949.02 1024.11 1103.18 1186.54 1274.53 1367.48 1465.75 1569.71 1679.74 1796.24 1919.65
Unabsorbed Loss -3062.82 -3399.94 -3655.94 -3818.56 -3891.83 -3878.93 -3827.04 -3693.15 -3478.41 -3183.45 -2808.42 -2408.14 -1954.36 -1445.98 -881.59 -259.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MAT 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 121.83 133.07 145.00 157.68 171.14 185.43 200.61 216.72 233.82 251.98 271.25 291.70 313.41 336.45 360.90
Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Tax Applicable 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cash Inflows
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Cash Outflows
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
Changes in Net CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Tax Paid 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Net Cashflow 8.93 30.26 -166.87 -115.39 -72.63 -28.95 -16.87 26.77 74.81 124.48 175.89 426.18 456.46 491.68 529.09 568.84 595.74 547.45 585.90 627.06 671.05 718.01 768.08 821.43 878.24 938.68 1002.97 1071.32 1143.96 1221.15 1303.13
Opening Cash 0.00 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74
Closing Cash 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Liabilities
Equity 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06
Long Term Loan 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Assets
Gross Block 3054.58 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16
Net Block 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16 -708.60
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash & Bank 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87
Total Assets 3004.08 2714.36 2476.29 2281.14 2129.85 1979.37 1884.17 1837.22 1840.16 1894.75 2188.41 2524.08 2895.24 3304.11 3753.03 4229.20 4657.41 5124.45 5633.04 6186.04 6786.44 7437.37 8142.16 8904.27 9727.38 10615.37 11572.33 12602.59 13710.74 14901.62

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99
Interest on LTL 167.63 160.65 142.02 123.40 104.77 86.15 67.52 48.89 30.27 11.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of LTL 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Change in CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Coverage 171.09 230.10 262.84 286.85 311.78 313.69 329.96 359.21 390.09 422.70 431.48 452.98 487.99 525.18 564.70 591.35 542.79 580.97 621.84 665.51 712.14 761.86 814.84 871.25 931.28 995.13 1063.01 1135.16 1211.82 1293.24
Debt Service 167.63 398.92 380.30 361.67 343.05 324.42 305.79 287.17 268.54 249.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSCR 1.02 0.58 0.69 0.79 0.91 0.97 1.08 1.25 1.45 1.69
Minimum DSCR 0.58
Average DSCR 1.00
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Project IRR 12.14%
Equity IRR 14.05%
Average ROCE 13.67%

Silo in Indore, Madhya
Pradesh
Feasibility Report
May 2013
Confidential
Silo in Indore, Madhya
Pradesh
Report_Indore.doc
22 May 2013
Feasibility Report
May 2013
Confidential
Setting up of Steel Grain Silo in Indore, Madhya Pradesh
Confidential

Planning Commission
other parties

commissioned it.
Confidential
Content
1. Introduction 1
1.1 Report content _______________________________________________________________________ 1
3.3.2 Movement of grain in the proposed Silo facility at Indore ______________________________________ 9
4.4 Connectivity ________________________________________________________________________ 11

5.3 Mandi Arrivals _______________________________________________________________________ 22
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5.4 Procurement ________________________________________________________________________ 24

5.5 Summary of Wheat Supply Chain in Indore________________________________________________ 28
6.2 Storage Gap Assessment in Indore District ________________________________________________ 32

7.1 Project Cost ________________________________________________________________________ 34
7.1.6 Contingencies _______________________________________________________________________ 39
7.2 Means of Finance ____________________________________________________________________ 40

8.1 Assumptions ________________________________________________________________________ 41
8.1.2.2 Operating Days______________________________________________________________________ 41
8.1.4.1 Power Cost _________________________________________________________________________ 44
8.1.4.2 Manpower Cost______________________________________________________________________ 44
8.1.4.4 Fumigation Cost _____________________________________________________________________ 45
8.1.4.6 Insurance Cost ______________________________________________________________________ 46
8.1.4.8 Depreciation ________________________________________________________________________ 46
8.1.4.9 Taxation ___________________________________________________________________________ 47
9.1 Change in Capex ____________________________________________________________________ 48
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9.3 Change in Opex _____________________________________________________________________ 49
F.1. Buhler _____________________________________________________________________________ 66
F.2. Scafco _____________________________________________________________________________ 74
F.3. Agrosaw ___________________________________________________________________________ 83
Tables
Table 5.3: Wheat Production in Indore (2003-04 to 2011-12) __________________________________________ 20
Table 5.5: Mandi Arrivals in Indore (2002-03 to 2012-13) _____________________________________________ 23
Table 5.7: Procurement of Wheat in Indore (2003-04 to 2012-13) _______________________________________ 26
Table 5.8: Summary of Wheat Scenario in Indore (MMT) _____________________________________________ 28
Table 6.4: Storage Facilities in Indore (as on 28-09-2012)_____________________________________________ 31

Indore
Confidential

Table 8.9: Tax Rates __________________________________________________________________________ 47
Figures
Figure 5.3: Wheat Production in Indore (2002-03 to 2012-13*) __________________________________________ 21
Figure 5.5: Mandi Arrivals of Wheat in Indore (2002-03 to 2012-13)______________________________________ 24
Figure 5.7: Wheat Procurement in Indore (2003-04 to 2012-13) _________________________________________ 27
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Indore
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Executive Summary
capacity of 50,000 MT has been considered at the proposed site in Indore. This facility would have 4 bins,
Jakhya village having an area of about 7 acres (following map). The proposed site is about 12 kms from
the nearest rail head. The Pradhan Mantri Gram Sadak Yojna (PMGSY) road from the rail head is
connecting the site giving the site an advantage in rail connectivity. The procurement centres are within the
Proposed Site, Village: Jakhya
years in Madhya Pradesh. The same trend is noted in the Indore district as well.
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Contingency 135.04
Margin Money 8.93
tabulated as:

Equity 919.06 30.00%
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i
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Revenue Assumptions
Revenues (2013)
Equity IRR 14.05% -

Base
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
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Base
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis
Project IRR 12.14% 11.53% 10.86% 10.49% 9.69% 9.23%
Equity IRR 14.05% 13.22% 12.31% 11.80% 10.68% 10.03%
DSCR 1.00 1.00 1.00 1.00 1.00 1.00
Payback Period 9.96 9.96 9.96 9.96 9.96 9.96
life.

0% 10% 20% 25% 30% 35% 40%
100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
after 10 years
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
20%.
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1. Introduction


This is the Feasibility Report of the Silo Project for Indore for the
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• To encourage private investment in development of warehousing
and logistics infrastructure in the state
• To benefit the existing industries, traders, farmers and agriculturists
at large by providing cost effective warehousing and logistics
facilities
heads:



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years.
! "
! "
facility at Indore would be 50,000 MT. It is proposed that the facility will

# " $ %

process
• Land allotment




monitored Silos.

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! & '


18 months.



! (

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also available.

!! " ( "



Source: MM Research
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equipment.
!! % % "

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Depot Bagging
Debagging

Storage
Despatch – Chain
Conveyor, Bucket
Dispatch


storage point
godowns for storage
for issue to PDS
Source: MM Analysis
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!! ) % "
facility.

Mechanized Receipts
Wheat - Farmers
Weighing
Storage
Dispatch – Chain
Conveyor, Bucket
Trucks for Further
Dispatch Bagging

as an Annexure G.
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# *
Indore is one of locations for the proposed Silo facilities in Madhya

MT of capacity is located in the Jakhya village on an area of about 7
Patwari Halka No. 38, Khasra No. 270, Village Jakhya, Sanwer, Indore,
Madhya Pradesh.

below:
Proposed Site, Village: Jakhya
# ' " ' + '% , %
The proposed site land of 7 acres in Jakhya village has been reserved
for the proposed project for MPWLC. The allotment and possession of
the same are under process. The documents pertaining to the land
premises.
#! -
MW. As informed by the MPWLC representative, Mr. Hemant Jain
(Branch Manager), the electricity to the proposed site can be easily
made available from the nearest LT line passing near to the boundary
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limits of the site. However, the separate transformer is required at the

at the site.
##

The Branch Manager of MPWLC at Indore, Mr. Hemant Jain has

giving the site an advantage in rail connectivity.
Also, the national highway (NH 23, Agra – Mumbai) is approximately 5

kms and state highway (Ujjain – Indore) is approximately 2 kms from
the location. The PMGSY road (single lane – pakka road) connects the
site to the State Highway.

matter.

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Solsinda Darji
Procurement (Dharampuri Karadiya
Centres within 20 Sanwer H.V. Sanwer Seva
kms radius of Silo Commity Commity
Laxminagar Kankripapal
Mandi
Hatod Kudana
Buranakhedi Bamandra
Guran
Rail Head / SH
Transportation
Source: MM Analysis

Solsinda (Dharampuri) Laxminagar Mandi Kankripapal
Sanwer Sewa Commity Hatod Kundana
Sanwer H.V. Commity Buranakhedi Bamandra
Darji Karadiya Guran -
Source: MPWLC
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. / "'

below:
State Farmers Field

Production

Markfed

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Source: MM Analysis


location.
. / '
. " * "


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(%) (%)
2002-03 3381 4923 1456 -
2003-04 4091 7365 1800 49.60% 23.6
2004-05 4200 7327 1745 -0.52% -3.1
2005-06 3785 6200 1638 -15.38% -6.1
2006-07 4275 7848 1836 26.58% 12.1
2007-08 4101 6737 1643 -14.16% -10.5
2008-09 4010 7280 1815 8.06% 10.5
2009-10 4471 8873 1985 21.88% 9.3
2010-11 4645 9227 1986 3.99% 0.1
2011-12 4901 12703 2592 37.67% 30.5
2012-13 5434 16104 2964 26.77% 14.3

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18
16.1
16
14
Production (in MMT)
12.7
12
10 8.9 9.2
7.4 7.8
7.3
8 6.2 6.7 7.3
6
4
2
0
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year


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• 2009-10: 10.62%
• 2011-12: 18.69%
• 2012-13: 14.28%
crops:

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• Seed treatment
• Weed control


the soil

increase

of INR 150/quintal.

2012-13.


Pradesh:
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(In Lakh Ha)
2000-01 7.36 -
2001-02 9.40 27.72%
2002-03 7.69 -18.19%
2003-04 10.07 30.95%
2004-05 10.35 2.78%
2005-06 10.13 -2.13%
2006-07 9.37 -7.50%
2007-08 9.48 1.17%
2008-09 9.71 2.43%
2009-10 8.87 -8.65%
2010-11 9.76 10.03%
2011-12 16.34 67.42%
2012-13 20.21 23.66%

below.
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connection.
. * "
The wheat production of Indore district for the last 10 years is as

tabulated below.
Table 5.3: Wheat Production in Indore (2003-04 to 2011-12)

2002-03 0.105
2003-04 0.287
2004-05 0.305
2005-06 0.089
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2006-07 NA
2007-08 0.244
2008-09 0.134
2009-10 0.220
2010-11 0.271
2011-12 0.253
2012-13* (proj.) 0.279
MMT in 2010-11. But in 2011-12, the production was 0.85 MMT. The
following graph depicts the trend in wheat production in Indore district
over the period 2002-03 to 2012-13*.
Figure 5.3: Wheat Production in Indore (2002-03 to 2012-13*)
0.35
0.31
0.3 0.29
0.27 0.28
0.24
0.25
Production (in MMT)
0.25
0.22
0.2
0.15 0.13
0.11
0.1 0.09
0.05
0
2002-03 2003-04 2004-05 2005-06 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13*
Year

The short term (2008-09 to 2012-13) CAGR for Indore district is about
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term (2003-04 to 2012-13) CAGR is about -0.33% which indicates that

in the long run the production of wheat has not improved significantly.
However, it can be observed from the year on year trend of production
in Indore that the production has increased from year 2007-08 onwards.

.! )

.! " * "

2003-04 2.456 18.10%
2004-05 3.809 55.07%
2005-06 3.136 -17.67%
2006-07 3.037 -3.13%
2007-08 4.769 57.02%
2008-09 4.990 4.62%
2009-10 4.355 -12.72%
2010-11 6.098 40.02%
2011-12 8.234 35.03%
2012-13 9.883 20.03%
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2003-04 to 2012-13.

12.00
9.88
10.00
8.23
8.00
6.10
6.00
4.77 4.99
4.36
3.81
4.00 2.46 3.14 3.04
2.00
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
.! * "
The Mandi Arrivals of Indore district for the last 10 years is as tabulated
below
Table 5.5: Mandi Arrivals in Indore (2002-03 to 2012-13)

2002-03 0.081 -
2003-04 0.112 39.21%
2004-05 0.208 85.71%
2005-06 0.129 -38.19%
2006-07 0.045 -65.31%
2007-08 0.252 464.25%
2008-09 0.215 -14.54%
2009-10 0.113 -47.69%
2010-11 0.170 51.20%
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2011-12 0.295 73.03%
2012-13 0.269 -8.60%
The short term CAGR (2008-09 to 2012-13) for Indore district is about
wise Mandi Arrivals for Indore district for period 2002-03 to 2012-13.
Figure 5.5: Mandi Arrivals of Wheat in Indore (2002-03 to 2012-13)
0.35
0.295
0.3
0.252 0.269
0.25
0.208
0.215
0.2
0.15 0.17
0.112
0.129 0.113
0.1
0.045
0.05 0.081
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Indore district have increased steeply over the last 3 years.

Appendix C.
.# ' %
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.# " * "


2003-04 0.200 -44.50%
2004-05 0.349 74.34%
2005-06 0.484 38.77%
2006-07 0.000 -
2007-08 0.057 -88.12%
2008-09 2.410 4092.61%
2009-10 1.967 -18.37%
2010-11 3.538 79.83%
2011-12 4.965 40.35%
2012-13 8.508 71.35%
Source: MPSCSCL

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9
8.508
8
7
5 4.965
4
3.538
3
2.41 1.967
2
1 0.2 0.484
0.349 0.057
0
0
2006-07
2003-04
2004-05
2005-06
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
.# * "

procurement by State Agencies in Indore district for the last 10 years is
as tabulated below.
Table 5.7: Procurement of Wheat in Indore (2003-04 to 2012-13)

2002-03 0.000
2003-04 0.000
2004-05 0.001
2005-06 0.007
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2006-07 0.000
2007-08 0.000
2008-09 0.087
2009-10 0.008
2010-11 0.072
2011-12 0.128
2012-13 0.218
Source: MPSCSCL


the State agencies in the Indore district is about 25.62% which shows
depicts wheat procurement in Indore district over the period 2003-04 to
2012-13
Figure 5.7: Wheat Procurement in Indore (2003-04 to 2012-13)

0.25
0.218
0.2
0.15 0.128
0.1
0.087 0.072
0.05 0.008
0 0 0.007
0.001 0 0
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
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.. "'%% / "'

following table.
Table 5.8: Summary of Wheat Scenario in Indore (MMT)

State Indore State Indore State Indore
2002-03 4.923 0.105 - 0.081 - 0.000
2003-04 7.365 0.287 2.456 0.112 0.200 0.000
2004-05 7.327 0.305 3.809 0.208 0.349 0.001
2005-06 6.200 0.089 3.136 0.129 0.484 0.007
2006-07 7.848 0.000 3.037 0.045 0.000 0.000
2007-08 6.737 0.244 4.769 0.252 0.057 0.000
2008-09 7.280 0.134 4.990 0.215 2.410 0.087
2009-10 8.873 0.220 4.355 0.113 1.967 0.008
2010-11 9.227 0.271 6.098 0.170 3.538 0.072
2011-12 12.703 0.253 8.234 0.295 4.965 0.128
2012-13 16.104 0.279 9.883 0.269 8.508 0.218
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These are:
Corporations


Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
MPWLC 10.47 10.97 11.29 11.47 11.61 11.66 11.86
CWC 4.52 4.52 4.56 4.56 4.56 4.56 4.56
MARKFED 5.06 5.06 5.29 5.29 5.43 5.43 5.43
FCI 3.29 3.29 3.29 3.29 3.29 3.29 3.29
MANDI BOARD 2.57 2.57 2.62 2.62 2.62 2.62 2.62
CO-OPERATIVE SO. 4.63 4.63 4.63 4.63 4.63 4.63 4.63
LVS 2.92 2.92 4.00 4.00 4.00 4.00 4.00
OILFED 2.07 2.07 2.07 2.07 2.07 2.07 2.07
M.P.AGRO 0.31 0.31 0.31 0.31 0.31 0.31 0.31
NAFED 0.15 0.15 0.15 0.15 0.15 0.15 0.15
godon scheme) 18.64 26.23 33.51 39.56 44.90 53.13 69.08
RIDF MPWLC - - - - - - -
PEG godown (Prt.) - - - - - - -
PIG (SILO) - - - - - - -
MPWLC (SILO) - - - - - - -
PACAKAGE - - - - - - -
IAP - - - - - - -
Total 54.63 62.72 71.72 77.95 83.57 91.85 108.00
capacity (%) 14.81% 14.35% 8.69% 7.21% 9.91% 17.58%
Source: MPWLC
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(in Lakh Tonnes)
of 2014-15
MPWLC 6.23 18.09
CWC 1.30 5.86
MARKFED - 5.43
FCI - 3.29
MANDI BOARD - 2.62
LVS - 4.00
OILFED - 2.07
M.P.AGRO - 0.31
NAFED - 0.15
PIG (SILO) 3.50 3.50
PACAKAGE 6.50 6.50
IAP 1.80 1.80
(Early Bird) 15.00 15.00
Total 61.18 169.18
Source: MPWLC

agencies between 2013 to 2015 is about 61.18 Lakh MT thereby
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tabulated below:

Agency 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Name 2014-15
MPWLC 19% 17% 16% 15% 14% 13% 11% 21% 27%
CWC 8% 7% 6% 6% 5% 5% 4% 4% 3%
MARKFED 9% 8% 7% 7% 6% 6% 5% 4% 3%
FCI 6% 5% 5% 4% 4% 4% 3% 2% 2%
MANDI
BOARD 5% 4% 4% 3% 3% 3% 2% 2% 2%
Co-Op. Soc. 8% 7% 6% 6% 6% 5% 4% 3% 3%
Private 34% 42% 47% 51% 54% 58% 64% 55% 50%
Others 10% 9% 9% 8% 8% 7% 6% 9% 11%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Source: MPWLC
Agency wise present storage facilities in the district of Indore are

tabulated below.
Table 6.4: Storage Facilities in Indore (as on 28-09-2012)

(in MT)
1 WLC 14310
2 FCI 0
3 CWC 77750
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(in MT)
4 Markfed 24000
5 Olifed 0
6 Private 283865
7 Mandi Board 8500
Total 419325
Source: MPWLC
0 " $ %

Indore.

production in Indore about 96% of the wheat was traded at mandis.

of wheat in the district is expected to increase at -0.33% in the short



2011-12 (actual) 252700 294535 419325 -124790
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2012-13 278721 269210 493055 -223845
2013-14 277794 268315 632708 -364393
2014-15 276870 267423 772361 -504938
2015-16 275950 266534 772361 -505827
2016-17 275033 265648 772361 -506714
2017-18 274118 264765 772361 -507597
2018-19 282342 272708 772361 -499654
2019-20 290812 280889 772361 -491472
2020-21 299537 289316 772361 -483046
2021-22 308523 297995 772361 -474366
2022-23 317778 306935 772361 -465426
2023-24 327026 315867 772361 -456495
2024-25 336542 325059 772361 -447303
2025-26 346336 334518 772361 -437844
2026-27 356414 344252 772361 -428109
2027-28 366786 354270 772361 -418091
2028-29 377459 364579 772361 -407782
2029-30 388443 375189 772361 -397173
2030-31 399747 386107 772361 -386255
2031-32 411379 397342 772361 -375019
2032-33 423350 408905 772361 -363457
Source: MM Analysis
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Land 0.70
Contingency 135.04
Margin Money 8.93
1 * * %

table below.

Quantity
Land 7.00 0.00 0.00
Cost 0.70
1 2' /
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8400 11000 924.00
Grade - M30) Cu.m
2266 3000 67.98
1000 2500 25.00
coat Sqm
500 2000 10.00
water Sqm
1 ! )
MT each.

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imported 580.63 884.72 975.17
844.00 884.72 1103.31
Import Duty 10% 58.06 88.47 97.52
CST 2.0% 5.27 0.00 2.56
Inland Freight 3.0% 17.42 26.54 29.26
Total P & M Cost *966.95 1043.97 1287.81


Savings due
Aeration System 54066 2973630 0% 2973630 0%
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Savings due
Centrifugal Fan 30686 1687752 30% 1181426 30%
Others 4048 222662 0% 222662 0%
4 Roof Exhausters 19879 1093323 0% 1093323 0%
7 (Wheat)**
Sweep Auger 33054 1817992 30% 1272594 30%
Others 6867 377663 0% 377663 0%
4 95450 5249764 25% 3937323 25%
TPH Wheat 67100 3690484 30% 2583338 30%
Dust Silo DB1 -63.3m3 14896 819253 30% 573477 30%
E2 78962 4342883 35% 2822874 35%
Others 24142 1327818 35% 863082 35%
Total 1675840 92171222 84399633
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Savings due
CST 2.0% 526730

1 # 3 + ' % -

Other Utilities
DG sets Nos. 2 2000000 40.00
- connection cost
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Other Utilities
process flow
Utilities
1 . %


1 0

1 1 ) ) /

assumptions:
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Debtors 1 -
Stores & Spares 3 -
Bank Finance 75%

Lakhs.
1 ) 4



Lakhs) TPC)
Equity 919.06 30.00%

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5 '%

5 2 '%
concession period
5 '%

year.


Rate of Basis
Escalation
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Rate of Basis
Escalation

2011-2012 156.13
2010-2011 143.32
2009-2010 130.81
2008-2009 126.02
2007-2008 116.63
2006-2007 111.35
2005-2006 104.47
CAGR 5.91%
5 ! ' '%

Charge.


Revenues (2013)
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Revenues (2013)

Concession.


been considered.
5 # '%

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8.1.4.1 Power Cost


Load Factor 21%

table below:

Cost Total Cost
Manpower Category
Clerks 1 144000 1.44
Peons 2 72000 1.44
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Rs./quintal 2.00
weighment
Rs./quintal 3.00
bags
Source: MM Analysis

India.


Duration Unit Value
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below:

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8.1.4.9 Taxation


Tax Rates Rates
Income Tax 32.45%
MAT 20.01%
same.
5 . 4

ROCE.

Equity IRR 14.05% -
DSCR 1.00 Times
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6 7


Change in
Capex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.61% 11.16% 12.66% 13.25%
Equity IRR 14.05% 13.24% 12.57% 14.88% 15.82%
DSCR 1.00 0.94 0.89 1.06 1.12
Source: MM Analysis

in the above table.
6 '


Project IRR 12.14% 13.65% 15.14% 10.58% 9.00%
Equity IRR 14.05% 16.51% 19.15% 11.71% 9.50%
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DSCR 1.00 1.17 1.35 0.82 0.65
Source: MM Analysis

each other.


Equity IRR 14.05% 10.31%
DSCR 1.00 0.72
Source: MM Analysis

6! 7
follows:

Change in Opex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.79% 11.45% 12.44% 12.78%
Equity IRR 14.05% 13.51% 12.99% 14.54% 15.10%
DSCR 1.00 0.96 0.92 1.04 1.08
Source: MM Analysis
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6# 8$4
are tabulated as:

Base Case -
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis

below:

Base
(INR lakhs) 3061.86 2755.68 2449.49 2296.40 2143.30 1990.21 1837.12
Project IRR 9.59% 10.53% 11.63% 12.27% 12.98% 13.78% 14.70%
Equity IRR 10.31% 11.65% 13.32% 14.34% 15.53% 16.97% 18.73%
DSCR 0.72 0.80 0.90 0.96 1.03 1.10 1.19
Source: MM Analysis
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6. - 9 4 : 8$4 3;'

0% 10% 20% 25% 30% 35% 40%

100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
after 10 years
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
Source: MM Analysis
' : %% :
GoI.
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1.20 times.
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
1 Jabalpur 154.6 156.3 184.0 N.A. 126.6 171.5 158.6 280.5 284.9
2 Katni 86.6 75.4 70.9 N.A. 39.6 74.3 70.8 59.0 96.7
3 Balaghat 17.4 7.9 22.1 N.A. 13.2 12.3 19.5 22.9 29.8
4 Chhindwara 170.2 145.6 144.1 N.A. 223.4 175.2 425.2 388.9 748.4
5 Seoni 93.1 77.7 88.8 N.A. 93.4 90.1 90.5 102.1 127.5
6 Mandla 26.8 26.6 28.5 N.A. 25.3 26.6 23.0 16.7 17.6
7 Dindori 21.9 24.0 18.4 N.A. 14.9 19.4 19.1 16.0 33.7
8 Narsinghpur 181.7 168.9 172.6 N.A. 157.5 189.7 169.4 226.9 253.2
9 Sagar 183.7 173.1 176.4 N.A. 131.8 188.2 244.5 186.5 295.1
10 Damoh 96.6 97.8 102.1 N.A. 99.8 131.8 136.3 171.4 197.0
11 Panna 78.9 76.7 74.9 N.A. 53.2 88.3 97.1 89.1 103.7
12 Tikamgarh 250.3 174.8 79.0 N.A. 28.0 209.2 168.3 99.0 241.5
13 Chhatarpur 249.6 243.7 180.5 N.A. 60.1 195.8 203.9 169.1 199.5
14 Rewa 204.4 181.1 170.8 N.A. 99.3 165.3 158.0 111.3 215.4
15 Sidhi 76.6 67.2 64.1 N.A. 54.7 47.0 45.4 38.1 67.4
16 Singroli 0.0 0.0 0.0 N.A. 0.0 28.9 35.0 35.1 60.9
17 Satna 197.7 173.9 184.3 N.A. 88.5 147.8 173.1 119.1 202.2
18 Shahdol 16.6 16.4 17.2 N.A. 18.0 20.7 16.9 17.1 33.3
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
19 Anuppur 10.2 9.0 10.2 N.A. 8.2 9.1 8.8 7.0 17.4
20 Umaria 23.1 20.8 21.9 N.A. 18.6 22.7 20.5 19.9 28.6
21 Indore 287.2 304.9 88.7 N.A. 244.3 134.4 220.1 271.3 252.7
22 Dhar 350.7 341.4 138.1 N.A. 500.0 298.8 354.9 453.5 379.5
23 Jhabua 53.7 56.6 49.0 N.A. 77.3 33.6 44.6 51.6 63.5
24 Khargone 149.2 126.9 57.9 N.A. 181.8 98.5 224.9 276.6 340.0
25 Barwani 61.2 50.0 18.0 N.A. 51.9 62.1 49.1 83.1 114.9
26 Khandwa 88.1 73.5 88.8 N.A. 107.9 115.6 120.1 154.8 211.1
27 Burhanpur 17.5 16.7 16.5 N.A. 19.9 20.2 19.4 24.8 31.7
28 Alirajpur 0.0 0.0 0.0 N.A. 0.0 25.3 24.8 28.6 32.9
29 Ujjain 223.4 345.6 114.1 N.A. 341.1 184.3 318.6 237.8 375.0
30 Mandsaur 57.5 134.4 51.1 N.A. 131.2 126.6 156.9 122.7 229.3
31 Neemuch 49.0 74.4 63.2 N.A. 59.0 74.9 61.8 92.1 101.5
32 Ratlam 182.4 203.8 138.0 N.A. 228.9 196.4 218.3 276.8 309.4
33 Dewas 218.8 225.4 89.1 N.A. 215.0 211.0 247.9 247.5 375.0
34 Shajapur 148.3 180.2 68.2 N.A. 164.9 134.8 221.4 182.1 297.7
35 Morena 210.4 207.3 220.7 N.A. 159.8 184.8 179.8 221.8 222.7
36 Sheopur Kalan 109.4 78.7 90.9 N.A. 93.4 94.3 144.0 173.5 191.2
37 Bhind 151.0 133.3 142.2 N.A. 102.5 177.9 214.2 185.2 163.3
38 Gwalior 274.3 236.3 244.9 N.A. 111.4 229.1 189.9 254.0 346.8
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
39 Shivpuri 262.4 216.5 225.5 N.A. 110.1 224.0 250.4 298.1 247.8
40 Guna 106.0 103.2 124.9 N.A. 119.4 143.4 127.4 187.9 243.1
41 Ashoknagar 123.8 120.4 138.8 N.A. 119.9 148.0 173.0 193.0 233.2
42 Datia 180.9 139.1 148.5 N.A. 151.8 229.4 290.8 260.2 346.1
43 Bhopal 108.2 135.4 115.2 N.A. 120.1 126.7 147.1 127.5 304.2
44 Sehore 346.8 364.9 233.4 N.A. 189.0 226.9 401.1 327.2 666.8
45 Raisen 277.1 279.3 311.9 N.A. 203.9 266.9 376.5 278.4 622.0
46 Vidisha 332.9 335.2 310.8 N.A. 202.4 259.6 370.4 341.6 402.1
47 Rajgarh 102.7 102.6 45.9 N.A. 103.7 85.8 145.3 140.4 282.2
48 Hoshangabad 439.3 449.7 429.0 N.A. 698.6 607.4 700.1 854.0 1135.4
49 Harda 179.8 238.6 231.1 N.A. 153.4 168.0 181.6 560.7 639.9
50 Betul 125.2 128.8 145.1 N.A. 412.6 369.6 407.0 137.3 281.0
Non Reported 7.4 7.4 7.4 N.A. 7.4 7.4 7.4 7.4 7.4
State 7364.6 7327.4 5957.7 N.A. 6736.7 7279.6 8872.7 9227.2 12703.2
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Betul 11705 33047 17573 24948 25727 60251 29725 91862 69513 82268
2 Bhopal 23330 52900 48271 88307 86209 51215 53075 140663 178733 261643
3 Harda 132375 204832 114803 216925 260224 353681 255571 312373 453863 464200
4 Hoshangabad 344708 385572 302337 406767 479281 673887 509486 611476 847351 998493
5 Raisen 84321 177899 152421 87284 100889 135917 109270 260513 375758 512195
6 Rajgarh 37711 89686 78828 40666 130838 90279 59194 153371 208688 283189
7 Sehore 123628 222887 143336 121465 207610 215006 135712 296672 436969 506010
8 Vidisha 122584 167179 150908 119927 155679 125710 116095 240269 339373 423289
9 Alirajpur 12442 14057 12297 13577 20107 14294 18725 9694 10760 7135
10 Badwani 9086 11844 17750 20196 38373 29988 14448 17987 31118 41086
11 Burhanpur 1855 6501 2583 2817 7682 21271 9732 6329 12024 11188
12 Dhar 104407 219042 196744 153720 325773 278790 162089 199203 286591 298197
13 Indore 112082 208151 128666 44632 251835 215229 112581 170223 294535 269210
14 Jhabua 41476 48576 50107 48308 39728 56452 43338 42259 40450 43882
15 Khandwa 34820 30607 35613 50319 129600 86217 79436 90299 133707 156492
16 Khargone 35866 46224 47050 36621 83425 155965 70716 120286 174343 196079
17 Dewas 53984 153601 115988 80333 189630 214748 141619 165153 341695 334456
18 Mandsour 6786 8886 44342 17803 109211 85025 55050 123018 86674 159112
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Neemuch 27268 19787 49228 86585 145758 161547 52124 80706 124328 125768
20 Ratlam 15372 42243 54049 32494 130094 151022 44831 86886 107144 164427
21 Shajapur 55421 108925 100211 87388 167407 124488 47914 138299 156052 239204
22 Ujjain 31422 118074 98759 45592 263189 300612 66342 180354 267268 400991
23 Ashoknagar 42132 71283 52754 36039 55296 49887 75525 96073 157955 152912
24 Bhind 34845 29881 10414 27080 43932 54215 73065 60686 99864 118580
25 Datia 68588 60124 25017 35504 87779 87198 126988 150860 223675 180537
26 Guna 30946 33730 47906 51985 92878 73050 97148 116420 192514 183988
27 Gwalior 59913 103706 43118 65472 83866 96615 150230 158083 198436 160763
28 Morena 63170 58806 16922 58213 68537 73410 77496 102659 146344 154475
29 Sheopur 37378 35309 34709 54477 74462 101207 71538 85716 159288 223454
30 Shivpuri 56264 81244 56203 59209 78491 49325 149263 152919 201982 280208
31 Chhatarpur 41664 105645 107418 53470 30836 7070 177835 145627 165158 281249
32 Damoh 29471 55343 58940 67725 69246 47998 60202 97265 99459 126435
33 Panna 12497 9676 7582 5566 3882 3213 11666 16551 20589 62809
34 Sagar 93376 152353 180426 128469 128008 56100 140563 214801 287510 321752
35 Tikamgarh 89289 157514 101735 59118 50941 21156 237595 213731 244239 437649
36 Balaghat 7556 19305 6405 15909 14245 14472 6346 6275 3798 7381
37 Chhindwara 26599 38173 57271 63252 62730 78111 43700 133300 135756 126418
38 Dindori 4274 11310 10108 6972 9019 8036 9425 12283 12497 12867
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Jabalpur 73976 82071 80481 90649 119138 154398 186683 207845 291626 343276
40 Katni 49833 66539 48528 68326 59973 86510 75646 77825 88290 82344
41 Mandla 8045 11052 12832 9963 16548 19530 27957 33109 33792 45530
42 Narsingpur 42732 42512 29574 40532 38570 50178 60860 82020 111196 0
43 Seoni 33773 48691 34368 55429 67705 101939 63788 140766 170468 216564
44 Anuppur 208 383 476 393 393 492 801 783 842 2621
45 Rewa 35042 31824 41844 45459 53464 39244 74142 61620 48792 105800
46 Satna 63187 87050 47976 57982 52795 77105 109618 105022 112828 208733
47 Shahdol 10750 14849 19580 17056 18877 16674 9252 14546 12165 14500
48 Sidhi 8357 16862 33136 28885 27247 11515 32221 56377 15628 34199
49 Singrauli 0 0 0 0 0 0 0 0 2118 0
50 Umaria 9590 12971 7979 7472 12116 9369 18467 17105 20350 19781
State 2456104 3808726 3135566 3037280 4769243 4989611 4355093 6098162 8234096 9883339
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Bhopal 0 10609 12147 0 3570 43514 27309 92288 117085 241604
2 Sehore 6784 16051 27029 0 1201 105958 67656 194513 233992 415721
3 Raisen 39465 63704 86632 0 8061 86630 126478 210127 326778 511572
4 Biora 0 759 2806 0 56
5 Vidisha 238 2136 7319 0 144 23069 18627 78738 135170 325127
6 Betul 22 67 86 0 24 34715 20099 64831 61269 98933
7 H'bad 53874 72520 118770 0 13768 412263 405542 545052 731102 950528
8 Harda 11330 24530 70266 0 8134 238665 241879 314298 467133 539855
9 Indore 0 521 7108 0 184 87351 8015 72003 128350 217551
10 Jhabua 0 0 143 0 0 26815 1777 9367 13474 26130
11 Dhar 0 0 3387 0 1857 75700 22698 90671 168561 230253
12 Khargone 0 0 514 0 0 68794 12026 78161 113088 169401
13 Badwani 0 0 10 0 0 16473 3894 10147 25133 40742
14 Khandwa 12 0 99 0 0 26669 21257 57594 104552 178217
15 Burhanpur 0 0 4 0 0 18202 7397 4000 7644 7627
16 Ujjain 0 688 34349 0 2730 206768 5307 119511 179529 361380
17 Dewas 0 2768 8191 0 500 81172 21821 109036 166466 280488
18 Ratlam 0 0 4975 0 1831 83027 5005 29095 43034 107223
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Mandsour 0 0 934 0 480 28808 4854 33626 32973 90745
20 Neemuch 0 0 551 0 781 26092 5086 5052 18979 42972
21 Shajapur 0 7395 14243 0 71 57561 6886 105037 124028 248057
22 Sagar 3530 8569 4860 0 5 19469 53347 94877 110468 235440
23 Damoh 2029 2513 3063 0 34 21697 39649 60080 65530 133253
24 Panna 1005 1509 1781 0 0 828 7268 12416 19206 58346
25 Chhatarpur 17567 29499 10821 0 0 1778 53541 73003 83528 179432
26 Tikamgarh 12743 32597 12214 0 0 5441 93770 66945 65510 164710
27 Jabalpur 2583 1055 557 0 0 61942 86825 74788 139750 266974
28 Chhindwara 0 50 0 0 82 26828 13963 71721 85161 139291
29 Balaghat 0 0 0 0 0 3158 2503 1989 2740 3766
30 Mandla 337 362 244 0 73 9929 11006 16952 21467 36394
31 Dindori 0 0 0 0 0 42 275 650 1110 3685
32 Seoni 120 1734 2046 0 36 58649 30021 79410 109087 195877
33 Narsingpur 4496 6805 3503 0 168 36001 42912 68803 112711 156303
34 Katni 1952 1950 1174 0 2 18231 16098 28003 44258 95532
35 Rewa 720 831 363 0 68 11366 23585 21877 25596 98206
36 Sidhi 5301 5728 1195 0 2 9207 7680 7181 8223 20629
37 Satna 24595 1186 1025 0 0 17586 45944 44592 43189 126429
38 Shahdole 1485 2461 1444 0 0 4024 7932 8830 11088 18013
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Anoop Pur 0 0 9 0 0 36 199 205 318 1919
40 Umaria 2014 2647 2064 0 315 3132 6940 7353 8601 20157
41 Gwalior 1788 8646 7294 0 9 66380 64817 61344 103458 171078
42 Datia 5089 8140 5645 0 828 42277 36977 68372 79521 160628
43 Shivpuri 534 10297 3496 0 454 18171 55104 78005 86772 194162
44 Guna 0 2219 7835 0 4108 27961 52587 54593 83523 159213
45 Ashoknagar 0 0 1416 0 0 13190 24419 36519 56453 116359
46 Bhind 387 1037 174 0 8 28268 24001 32273 48106 81454
47 Murena 0 464 0 0 0 41981 47493 74553 86117 133784
48 Sheopurkala 19 16668 12119 0 7895 88924 58910 87248 147196 214234
49 Alirajpur 0 808 1079 3383 3428
50 Rajgarh 25130 17707 70392 103021 217432
51 Singroli 0 7251 10349 11528 17442
Grand Total 7817 47471 37979 0 13302 352282 390074 574727 809078 1469214
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Co-
Mandi operative
1 Bhopal 5300 25000 45740 27000 0 41537 1700 8310 154587
2 Hoshangabad 130421 80000 0 11000 48000 657747 11500 12260 950928
3 Harda 65570 0 0 3000 0 188620 4200 3900 265290
4 Sehore 27000 0 0 9600 48490 130594 6400 14360 236444
5 Rajgarh 17000 0 0 15000 0 130868 6000 1485 170353
6 Betul 13000 10000 0 7000 0 64072 3000 12790 109862
7 Raisen 43537 0 0 17500 0 179498 5000 9950 255485
8 Vidisha 44150 10000 0 18000 0 278189 4500 16050 370889
9 Bhind 17200 0 26000 11900 0 37880 2200 15450 110630
10 Datia 27600 7500 0 7000 0 31057 500 5355 79012
11 Guna 51440 0 0 14000 0 82247 7600 9300 164587
12 Ashoknagar 26000 11920 0 6000 0 75307 3000 0 122227
13 Gwalior 37300 12500 19750 14050 0 214406 3400 7990 309396
14 Murena 15400 0 64250 11000 30200 207824 6400 8200 343274
15 Sheopur 9200 11280 31000 5300 0 49516 4900 0 111196
16 Shivpuri 32800 0 0 8100 0 118366 3100 6450 168816
17 Balaghat 18600 44290 10000 20950 0 4798 3300 9710 111648
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
18 Chindwara 28250 0 0 11800 27052 62493 4900 19530 154025
19 Jabalpur 42350 10640 0 6875 0 196597 9100 15500 281062
20 Katni 5400 8640 25100 10000 0 93349 2000 0 144489
21 Narsinghpur 18666 0 19150 10700 0 85548 7100 20200 161364
22 Seoni 19000 8340 0 10000 0 77989 2800 7350 125479
23 Mandla 9180 0 0 17625 0 9936 2200 8090 47031
24 Dindori 4530 0 0 2000 0 0 0 0 6530
25 Dhar 31900 0 5000 12775 0 96858 13700 13070 173303
26 Indore 14310 0 77750 24000 0 283865 8500 10900 419325
27 Khandwa 3125 0 97367 17150 0 111510 7950 26115 263217
28 Barwani 10977 0 0 1000 0 15500 0 27477
29 Jhabua 20600 5000 0 3000 0 17653 5100 15030 66383
30 Alirajpur 6800 0 0 0 0 0 0 0 6800
31 Khargone 22450 0 0 8000 10944 51321 20700 33630 147045
32 Dewas 75050 0 0 13850 0 147083 8200 10620 254803
33 Burhanpur 0 0 27200 5000 0 1855 7350 0 41405
34 Ujjain 48916 15000 0 12000 38400 233371 10500 23845 382032
35 Mandsour 41400 0 0 8650 0 83132 3200 19370 155752
36 Neemuch 21846 0 0 7000 0 143270 2100 0 174216
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
37 Ratlam 43400 8980 0 19500 0 160431 22400 15300 270011
38 Rajapur 38385 0 8000 12000 0 186987 5500 15420 266292
39 Chhatarpur 28400 10000 0 10400 0 144646 2400 12850 208696
40 Panna 5000 0 0 6000 0 31333 200 4325 46858
41 Tikamgarh 22800 33140 0 15400 0 50927 2400 11200 135867
42 Sagar 47000 3780 0 18900 0 167730 10500 0 247910
43 Damoh 13600 0 0 12000 0 227594 1500 10200 264894
44 Anuppur 4000 0 0 0 0 0 500 4500
45 Satna 36986 6920 0 18280 0 22389 4500 12040 101115
46 Shahdol 12000 5640 0 21375 0 0 2000 0 41015
47 Singroli 2000 0 0 0 0 0 0 0 2000
48 Sidhi 7800 0 0 8575 4000 0 0 14830 35205
49 Rewa 14400 0 0 9575 0 12696 700 7950 45321
50 Umaria 2800 0 0 3000 0 0 0 0 5800
State 1284839 328570 456307 542830 207086 5193089 260200 468925 8741846
320162/MCB/ISA/AA/01 22 May 2013

Confidential

320162/MCB/ISA/AA/01 22 May 2013

Confidential
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Base Case
7. Tax Computation
320162/MCB/ISA/AA/01 22 May 2013


P & P Exp. 218.77 7.14%
VGF 0.00

Total 3063.52

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Revenues
Storage Charge
Variable Charge 35.64 37.74 39.97 42.33 44.83 47.48 50.29 53.26 56.41 59.74 63.27 67.01 70.96 75.16 79.60 84.30 89.28 94.55 100.14 106.06 112.32 118.96 125.98 133.43 141.31 149.66 158.50 167.86 177.78 188.28
Total Revenues 569.09 602.71 638.32 676.03 715.97 758.27 803.06 850.51 900.75 953.97 1010.33 1070.01 1133.23 1200.18 1271.08 1346.17 1425.70 1509.93 1599.13 1693.60 1793.66 1899.62 2011.85 2130.70 2256.58 2389.89 2531.08 2680.61 2838.98 3006.70
Expenditure
Power Cost 72.00 74.16 76.38 78.68 81.04 83.47 85.97 88.55 91.21 93.94 96.76 99.66 102.65 105.73 108.91 112.17 115.54 119.01 122.58 126.25 130.04 133.94 137.96 142.10 146.36 150.75 155.27 159.93 164.73 169.67
Fumigation Cost 16.20 17.01 17.86 18.75 19.69 20.68 21.71 22.80 23.93 25.13 26.39 27.71 29.09 30.55 32.07 33.68 35.36 37.13 38.99 40.94 42.98 45.13 47.39 49.76 52.25 54.86 57.60 60.48 63.51 66.68
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Depreciation 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
EBIT 165.12 187.87 212.07 237.80 265.16 248.44 279.37 312.25 347.19 384.33 377.98 419.92 464.48 511.81 562.09 615.51 672.23 732.48 796.46 864.40 936.54 1013.13 1094.44 1180.76 1272.39 1369.65 1472.88 1582.45 1698.72 1822.12
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Tax 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99


P & P Exp. 218.77

Total Dep 3054.58 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44

Total WDV 3054.58 2678.27 2350.22 2064.02 1814.13 1595.77 1404.80 1237.64 1091.21 962.84 850.21 751.30 664.38 587.93 520.64 461.36 409.11 363.01 322.31 286.35 254.56 226.44 201.53 179.47 159.92 142.57 127.17 113.50 101.34 90.54 80.93

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Current Assets
Debtors 47.42 50.23 53.19 56.34 59.66 63.19 66.92 70.88 75.06 79.50 84.19 89.17 94.44 100.01 105.92 112.18 118.81 125.83 133.26 141.13 149.47 158.30 167.65 177.56 188.05 199.16 210.92 223.38 236.58 250.56
Current Liabilities
Margin Money 8.93 9.58 10.27 11.00 11.78 9.73 10.60 11.52 12.50 13.53 11.76 12.92 14.15 15.46 16.84 18.30 19.86 21.50 23.24 25.09 27.04 29.12 31.32 33.64 36.11 38.72 41.49 44.43 47.54 50.84
Bank Finance 26.80 28.75 30.82 33.01 35.33 29.20 31.80 34.56 37.49 40.59 35.29 38.77 42.46 46.37 50.52 54.91 59.57 64.50 69.73 75.27 81.13 87.35 93.95 100.93 108.33 116.17 124.48 133.29 142.62 152.51

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 2144.46 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 62.04 62.04 55.14 48.25 41.36 34.46 27.57 20.68 13.79 6.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 62.04 60.31 53.42 46.53 39.63 32.74 25.85 18.96 12.06 5.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 62.04 58.59 51.70 44.80 37.91 31.02 24.13 17.23 10.34 3.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 62.04 56.87 49.97 43.08 36.19 29.29 22.40 15.51 8.62 1.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 1531.76 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 45.95 45.95 40.85 35.74 30.64 25.53 20.42 15.32 10.21 5.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 45.95 44.68 39.57 34.46 29.36 24.25 19.15 14.04 8.94 3.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 45.95 43.40 38.29 33.19 28.08 22.98 17.87 12.76 7.66 2.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 45.95 42.12 37.02 31.91 26.81 21.70 16.59 11.49 6.38 1.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 183.81 176.15 155.73 135.31 114.88 94.46 74.04 53.61 33.19 12.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 612.70 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 16.08 16.08 14.30 12.51 10.72 8.94 7.15 5.36 3.57 1.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 16.08 15.64 13.85 12.06 10.28 8.49 6.70 4.91 3.13 1.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 16.08 15.19 13.40 11.62 9.83 8.04 6.25 4.47 2.68 0.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 16.08 14.74 12.96 11.17 9.38 7.59 5.81 4.02 2.23 0.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 64.33 61.65 54.51 47.36 40.21 33.06 25.91 18.76 11.62 4.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Add: SLM Dep 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
Less: WDV Dep 376.32 328.05 286.20 249.89 218.36 190.97 167.16 146.43 128.37 112.64 98.91 86.92 76.45 67.29 59.27 52.25 46.10 40.70 35.96 31.79 28.13 24.90 22.06 19.56 17.35 15.40 13.67 12.15 10.80 9.61
Income/Loss -337.12 -256.00 -162.62 -73.27 12.91 51.88 133.89 214.74 294.96 375.03 400.28 453.78 508.37 564.39 622.20 682.10 744.43 809.48 877.58 949.02 1024.11 1103.18 1186.54 1274.53 1367.48 1465.75 1569.71 1679.74 1796.24 1919.65
Unabsorbed Loss -3062.82 -3399.94 -3655.94 -3818.56 -3891.83 -3878.93 -3827.04 -3693.15 -3478.41 -3183.45 -2808.42 -2408.14 -1954.36 -1445.98 -881.59 -259.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MAT 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 121.83 133.07 145.00 157.68 171.14 185.43 200.61 216.72 233.82 251.98 271.25 291.70 313.41 336.45 360.90
Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Tax Applicable 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cash Inflows
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Cash Outflows
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
Changes in Net CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Tax Paid 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Net Cashflow 8.93 30.26 -166.87 -115.39 -72.63 -28.95 -16.87 26.77 74.81 124.48 175.89 426.18 456.46 491.68 529.09 568.84 595.74 547.45 585.90 627.06 671.05 718.01 768.08 821.43 878.24 938.68 1002.97 1071.32 1143.96 1221.15 1303.13
Opening Cash 0.00 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74
Closing Cash 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Liabilities
Equity 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06
Long Term Loan 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Assets
Gross Block 3054.58 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16
Net Block 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16 -708.60
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash & Bank 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87
Total Assets 3004.08 2714.36 2476.29 2281.14 2129.85 1979.37 1884.17 1837.22 1840.16 1894.75 2188.41 2524.08 2895.24 3304.11 3753.03 4229.20 4657.41 5124.45 5633.04 6186.04 6786.44 7437.37 8142.16 8904.27 9727.38 10615.37 11572.33 12602.59 13710.74 14901.62

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99
Interest on LTL 167.63 160.65 142.02 123.40 104.77 86.15 67.52 48.89 30.27 11.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of LTL 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Change in CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Coverage 171.09 230.10 262.84 286.85 311.78 313.69 329.96 359.21 390.09 422.70 431.48 452.98 487.99 525.18 564.70 591.35 542.79 580.97 621.84 665.51 712.14 761.86 814.84 871.25 931.28 995.13 1063.01 1135.16 1211.82 1293.24
Debt Service 167.63 398.92 380.30 361.67 343.05 324.42 305.79 287.17 268.54 249.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSCR 1.02 0.58 0.69 0.79 0.91 0.97 1.08 1.25 1.45 1.69
Minimum DSCR 0.58
Average DSCR 1.00
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Project IRR 12.14%
Equity IRR 14.05%
Average ROCE 13.67%

Silo in Dewas, Madhya
Pradesh
Feasibility Report
May 2013
Confidential
Silo in Dewas, Madhya
Pradesh
Report_Dewas.doc
22 May 2013
Feasibility Report
May 2013
Confidential
Setting up of Steel Grain Silo in Dewas, Madhya Pradesh
Confidential

Planning Commission
other parties

commissioned it.
Confidential
Content
1. Introduction 1
1.1 Report content _______________________________________________________________________ 1
3.3.2 Movement of grain in the proposed Silo facility at Dewas ______________________________________ 9
4.4 Connectivity ________________________________________________________________________ 11

5.3 Mandi Arrivals _______________________________________________________________________ 22
Dewas
Confidential
5.4 Procurement ________________________________________________________________________ 24

5.5 Summary of Wheat Scenario in Dewas district _____________________________________________ 28
6.2 Storage Gap Assessment in Dewas District _______________________________________________ 32

7.1 Project Cost ________________________________________________________________________ 34
7.1.6 Contingencies _______________________________________________________________________ 39
7.2 Means of Finance ____________________________________________________________________ 40

8.1 Assumptions ________________________________________________________________________ 41
8.1.2.2 Operating Days______________________________________________________________________ 41
8.1.4.1 Power Cost _________________________________________________________________________ 44
8.1.4.2 Manpower Cost______________________________________________________________________ 44
8.1.4.4 Fumigation Cost _____________________________________________________________________ 45
8.1.4.6 Insurance Cost ______________________________________________________________________ 46
8.1.4.8 Depreciation ________________________________________________________________________ 46
8.1.4.9 Taxation ___________________________________________________________________________ 47
9.1 Change in Capex ____________________________________________________________________ 48
Dewas
Confidential

9.3 Change in Opex _____________________________________________________________________ 49
F.1. Buhler _____________________________________________________________________________ 68
F.2. Scafco _____________________________________________________________________________ 76
F.3. Agrosaw ___________________________________________________________________________ 85
Tables
Table 5.3: Wheat Production in Dewas (2003-04 to 2011-12) __________________________________________ 20
Table 5.5: Mandi Arrivals in Dewas (2002-03 to 2012-13) _____________________________________________ 23
Table 5.7: Procurement of Wheat in Dewas (2003-04 to 2012-13) ______________________________________ 26
Table 5.8: Summary of Wheat Scenario in Dewas district (MMT) _______________________________________ 28
Table 6.4: Storage Facilities in Dewas (as on 28-09-2012) ____________________________________________ 31
Dewas
Confidential

Table 8.9: Tax Rates __________________________________________________________________________ 47
Figures
Figure 5.3: Wheat Production in Dewas (2002-03 to 2012-13*) _________________________________________ 21
Figure 5.5: Mandi Arrivals of Wheat in Dewas (2002-03 to 2012-13) _____________________________________ 24
Figure 5.7: Wheat Procurement in Dewas (2003-04 to 2012-13) ________________________________________ 27
Dewas
Confidential
Dewas
Confidential
Dewas
Confidential
Executive Summary
capacity of 50,000 MT has been considered at the proposed site in Dewas. This facility would have 4 bins,
Durgapura village having an area of about 7 acres (following map). The proposed site is about 12 kms
from the nearest rail head. The Pradhan Mantri Gram Sadak Yojna (PMGSY) road from the rail head
connects the site giving the site an advantage in rail connectivity. The procurement centres are within the
Proposed Site, Village: Durgapura
years in Madhya Pradesh. The same trend is noted in the Dewas district as well.
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Contingency 135.04
Margin Money 8.93
tabulated as:

Equity 919.06 30.00%
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i
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Revenue Assumptions
Revenues (2013)
Equity IRR 14.05% -

Base
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
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Base
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis
Project IRR 12.14% 11.53% 10.86% 10.49% 9.69% 9.23%
Equity IRR 14.05% 13.22% 12.31% 11.80% 10.68% 10.03%
DSCR 1.00 1.00 1.00 1.00 1.00 1.00
Payback Period 9.96 9.96 9.96 9.96 9.96 9.96
life.

0% 10% 20% 25% 30% 35% 40%
100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
after 10 years
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
20%.
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1. Introduction


This is the Feasibility Report of the Silo Project for Dewas for the
320162/MCB/ISA/AA/01 22 May 2013

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• To encourage private investment in development of warehousing
and logistics infrastructure in the state
• To benefit the existing industries, traders, farmers and agriculturists
at large by providing cost effective warehousing and logistics
facilities
heads:



320162/MCB/ISA/AA/01 22 May 2013

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years.
! "
! "
facility at Dewas would be 50,000 MT. It is proposed that the facility will

# " $ %

process
• Land allotment




monitored Silos.

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320162/MCB/ISA/AA/01 22 May 2013

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! & '


18 months.



! (

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also available.

!! " ( "



Source: MM Research
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equipment.
!! % % "

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Depot Bagging
Debagging

Storage
Despatch – Chain
Conveyor, Bucket
Dispatch


storage point
godowns for storage
for issue to PDS
Source: MM Analysis
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!! ) % " &
facility.

Mechanized Receipts
Wheat - Farmers
Weighing
Storage
Dispatch – Chain
Conveyor, Bucket
Trucks for Further
Dispatch Bagging
Source: MM Analysis

as an Annexure G.
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# *
Dewas is one of locations for the proposed Silo facilities in Madhya

MT of capacity is located in the Durgapura village on an area of about 7
Note: As per the land document, it can be seen that only 4 acres of
land has been allotted for setting up 25,000 MT capacity Steel
Grain Silo at village Durgapura in the district of Dewas. However,
as per discussion held with MPWLC and summary sheet provided
by them, the land area of 7 acres has been considered as required
for the financial feasibility of the project.
Patwari Halka No. 49, Khasra No. 145/1/1, Village Durgapura, Dewas,
Madhya Pradesh.

below:
Proposed Site, Village: Durgapura
# ' " ' + '% , %
As per summary sheet provided by MPWLC to the consultants, the

proposed site land of 7 acres in Durgapura village has been allotted for
the proposed project for MPWLC. The possession of the same has
been given to MPWLC. But the documents pertaining to the land
agreement/allotment as attached at Appendix A indicate only 4 acres of
land being allocated. In any case, the land will be provided by MPWLC
to the developer for setting up the Silo in the premises.
320162/MCB/ISA/AA/01 22 May 2013

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#! -
MW. As informed by the MPWLC representative, Mr. Vipin Lad (Branch
available from the nearest electric substation within 500 meters from
the site. However, the separate transformer is required at the project
site for further connectivity to the silo facility.
at the site.
##

The Branch Manager of MPWLC at Dewas, Mr. Vipin Lad has provided
the details that the proposed site is about 12 kms from the nearest rail
head. The road connectivity of the site to the rail head is also in place
by Pradhan Mantri Gram Sadak Yojna (PMGSY) road, giving the site an
advantage in rail connectivity.
Also, the state highway (Dewas - Bhopal) and National Highway (NH7)
are approximately at 6 kms and 2 kms from the location respectively.
The PMGSY road (single lane – pakka road) connects the site to the
State Highway and the National Highway.

matter.

centres of the site are detailed in figure below:
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Tokkhurd Sipra
Procurement
Dewas Bhaurasa
Centres within 20
kms radius of Silo Aalri Ratankhedi
Rail Head / SH
Transportation
Source: MM Analysis

Tokkhurd Aalri Bhaurasa
Dewas Sipra Ratankhedi
Source: MPWLC
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. / "'

below:
State Farmers Field

Production

Markfed

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Source: MM Analysis


location.
. / '
. " * "


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(%) (%)
2002-03 3381 4923 1456 -
2003-04 4091 7365 1800 49.60% 23.6
2004-05 4200 7327 1745 -0.52% -3.1
2005-06 3785 6200 1638 -15.38% -6.1
2006-07 4275 7848 1836 26.58% 12.1
2007-08 4101 6737 1643 -14.16% -10.5
2008-09 4010 7280 1815 8.06% 10.5
2009-10 4471 8873 1985 21.88% 9.3
2010-11 4645 9227 1986 3.99% 0.1
2011-12 4901 12703 2592 37.67% 30.5
2012-13 5434 16104 2964 26.77% 14.3

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18
16.1
16
14
Production (in MMT)
12.7
12
10 8.9 9.2
7.4 7.8
7.3
8 6.2 6.7 7.3
6
4
2
0
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year


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• 2009-10: 10.62%
• 2011-12: 18.69%
• 2012-13: 14.28%
crops:

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• Seed treatment
• Weed control


the soil

increase

of INR 150/quintal.

2012-13.


Pradesh:
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(In Lakh Ha)
2000-01 7.36 -
2001-02 9.40 27.72%
2002-03 7.69 -18.19%
2003-04 10.07 30.95%
2004-05 10.35 2.78%
2005-06 10.13 -2.13%
2006-07 9.37 -7.50%
2007-08 9.48 1.17%
2008-09 9.71 2.43%
2009-10 8.87 -8.65%
2010-11 9.76 10.03%
2011-12 16.34 67.42%
2012-13 20.21 23.66%

below.
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connection.
. * "
The wheat production of Dewas district for the last 10 years is as

tabulated below.
Table 5.3: Wheat Production in Dewas (2003-04 to 2011-12)

2002-03 0.122
2003-04 0.219
2004-05 0.225
2005-06 0.089
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2006-07 0.000
2007-08 0.215
2008-09 0.211
2009-10 0.248
2010-11 0.248
2011-12 0.375
2012-13* (proj.) 0.425
MMT in 2009-10. Subsequently in 2011-12, the production increased to
about 0.38 MMT. The following graph depicts the trend in wheat
production in Dewas district over the period 2002-03 to 2012-13*.
Figure 5.3: Wheat Production in Dewas (2002-03 to 2012-13*)
0.45
0.43
0.4
0.38
0.35
Production (in MMT)
0.3
0.25 0.22 0.23 0.22 0.25 0.25

0.21
0.2
0.15 0.12
0.1
0.09
0.05
0
2002-03 2003-04 2004-05 2005-06 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13*
Year

The short term (2008-09 to 2012-13) CAGR for Dewas district is about
320162/MCB/ISA/AA/01 22 May 2013

Confidential

year trend of production in Dewas that the production has suddenly

.! )

.! " * "

2003-04 2.456 18.10%
2004-05 3.809 55.07%
2005-06 3.136 -17.67%
2006-07 3.037 -3.13%
2007-08 4.769 57.02%
2008-09 4.990 4.62%
2009-10 4.355 -12.72%
2010-11 6.098 40.02%
2011-12 8.234 35.03%
2012-13 9.883 20.03%
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2003-04 to 2012-13.

12.00
9.88
10.00
8.23
8.00
6.10
6.00
4.77 4.99
4.36
3.81
4.00 2.46 3.14 3.04
2.00
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
.! * "
The Mandi Arrivals of Dewas district for the last 10 years is as tabulated
below
Table 5.5: Mandi Arrivals in Dewas (2002-03 to 2012-13)

2002-03 0.049 -
2003-04 0.054 10.79%
2004-05 0.154 184.53%
2005-06 0.116 -24.49%
2006-07 0.080 -30.74%
2007-08 0.190 136.05%
2008-09 0.215 13.25%
2009-10 0.142 -34.05%
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2010-11 0.165 16.62%
2011-12 0.342 106.90%
2012-13 0.334 -2.12%
The short term CAGR (2008-09 to 2012-13) for Dewas district is about
wise Mandi Arrivals for Dewas district for period 2002-03 to 2012-13.
Figure 5.5: Mandi Arrivals of Wheat in Dewas (2002-03 to 2012-13)
0.4
0.342
0.35
0.334
0.3
0.25
0.215
0.2 0.19
0.154
0.15 0.165
0.142
0.1 0.116 0.08
0.054
0.05
0.049
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Dewas district have increased steeply over the last 3 years.

Appendix C.
.# ' %
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.# " * "


2003-04 0.200 -44.50%
2004-05 0.349 74.34%
2005-06 0.484 38.77%
2006-07 0.000 -
2007-08 0.057 -88.12%
2008-09 2.410 4092.61%
2009-10 1.967 -18.37%
2010-11 3.538 79.83%
2011-12 4.965 40.35%
2012-13 8.508 71.35%
Source: MPSCSCL

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9
8.508
8
7
5 4.965
4
3.538
3
2.41 1.967
2
1 0.2 0.484
0.349 0.057
0
0
2006-07
2003-04
2004-05
2005-06
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
.# * "

procurement by State Agencies in Dewas district for the last 10 years is
as tabulated below.
Table 5.7: Procurement of Wheat in Dewas (2003-04 to 2012-13)

2002-03 0.001
2003-04 0.000
2004-05 0.003
2005-06 0.008
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2006-07 0.000
2007-08 0.001
2008-09 0.081
2009-10 0.022
2010-11 0.109
2011-12 0.166
2012-13 0.280
Source: MPSCSCL


the State agencies in the Dewas district is about 36.34% which shows
depicts wheat procurement in Dewas district over the period 2003-04 to
2012-13
Figure 5.7: Wheat Procurement in Dewas (2003-04 to 2012-13)

0.3
0.28
0.25
0.2 0.166
0.15
0.109
0.1
0.081
0.022
0.05
0.001 0 0.003 0.008 0 0.001
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
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.. "'%% / " &
The supply chain scenario of wheat in Dewas has been summarised in

the following table.
Table 5.8: Summary of Wheat Scenario in Dewas district (MMT)

State Dewas State Dewas State Dewas
2002-03 4.923 0.122 - 0.049 - 0.001
2003-04 7.365 0.219 2.456 0.054 0.200 0.000
2004-05 7.327 0.225 3.809 0.154 0.349 0.003
2005-06 6.200 0.089 3.136 0.116 0.484 0.008
2006-07 7.848 0.000 3.037 0.080 0.000 0.000
2007-08 6.737 0.215 4.769 0.190 0.057 0.001
2008-09 7.280 0.211 4.990 0.215 2.410 0.081
2009-10 8.873 0.248 4.355 0.142 1.967 0.022
2010-11 9.227 0.248 6.098 0.165 3.538 0.109
2011-12 12.703 0.375 8.234 0.342 4.965 0.166
2012-13 16.104 0.425 9.883 0.334 8.508 0.280
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These are:
Corporations


Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
MPWLC 10.47 10.97 11.29 11.47 11.61 11.66 11.86
CWC 4.52 4.52 4.56 4.56 4.56 4.56 4.56
MARKFED 5.06 5.06 5.29 5.29 5.43 5.43 5.43
FCI 3.29 3.29 3.29 3.29 3.29 3.29 3.29
MANDI BOARD 2.57 2.57 2.62 2.62 2.62 2.62 2.62
CO-OPERATIVE SO. 4.63 4.63 4.63 4.63 4.63 4.63 4.63
LVS 2.92 2.92 4.00 4.00 4.00 4.00 4.00
OILFED 2.07 2.07 2.07 2.07 2.07 2.07 2.07
M.P.AGRO 0.31 0.31 0.31 0.31 0.31 0.31 0.31
NAFED 0.15 0.15 0.15 0.15 0.15 0.15 0.15
godon scheme) 18.64 26.23 33.51 39.56 44.90 53.13 69.08
RIDF MPWLC - - - - - - -
PEG godown (Prt.) - - - - - - -
PIG (SILO) - - - - - - -
MPWLC (SILO) - - - - - - -
PACAKAGE - - - - - - -
IAP - - - - - - -
Total 54.63 62.72 71.72 77.95 83.57 91.85 108.00
capacity (%) 14.81% 14.35% 8.69% 7.21% 9.91% 17.58%
Source: MPWLC
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(in Lakh Tonnes)
of 2014-15
MPWLC 6.23 18.09
CWC 1.30 5.86
MARKFED - 5.43
FCI - 3.29
MANDI BOARD - 2.62
LVS - 4.00
OILFED - 2.07
M.P.AGRO - 0.31
NAFED - 0.15
PIG (SILO) 3.50 3.50
PACAKAGE 6.50 6.50
IAP 1.80 1.80
(Early Bird) 15.00 15.00
Total 61.18 169.18
Source: MPWLC

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tabulated below:

Agency 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Name 2014-15
MPWLC 19% 17% 16% 15% 14% 13% 11% 21% 27%
CWC 8% 7% 6% 6% 5% 5% 4% 4% 3%
MARKFED 9% 8% 7% 7% 6% 6% 5% 4% 3%
FCI 6% 5% 5% 4% 4% 4% 3% 2% 2%
MANDI
BOARD 5% 4% 4% 3% 3% 3% 2% 2% 2%
Co-Op. Soc. 8% 7% 6% 6% 6% 5% 4% 3% 3%
Private 34% 42% 47% 51% 54% 58% 64% 55% 50%
Others 10% 9% 9% 8% 8% 7% 6% 9% 11%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Source: MPWLC
Agency wise present storage facilities in the district of Dewas are

tabulated below.
Table 6.4: Storage Facilities in Dewas (as on 28-09-2012)

(in MT)
1 WLC 75050
2 FCI 0
3 CWC 0
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(in MT)
4 Markfed 13850
5 Olifed 0
6 Private 147083
7 Mandi Board 8200
Total 254803
Source: MPWLC
0 " $ % &

Dewas.

production in Dewas about 78.73% of the wheat was traded at mandis.




2011-12 (actual) 375000 341695 254803 86892
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2012-13 424793 334456 299605 34851
2013-14 457290 360042 384465 -24423
2014-15 492273 387586 469326 -81740
2015-16 529933 417237 469326 -52089
2016-17 570473 449156 469326 -20170
2017-18 614115 483516 469326 14191
2018-19 644821 507692 469326 38367
2019-20 677062 533077 469326 63751
2020-21 710915 559731 469326 90405
2021-22 746461 587717 469326 118392
2022-23 783784 617103 469326 147777
2023-24 806592 635061 469326 165735
2024-25 830064 653541 469326 184215
2025-26 854218 672559 469326 203233
2026-27 879076 692131 469326 222805
2027-28 904657 712272 469326 242946
2028-29 930983 732999 469326 263673
2029-30 958075 754329 469326 285003
2030-31 985954 776280 469326 306954
2031-32 1014646 798870 469326 329544
2032-33 1044172 822117 469326 352791
Source: MM Analysis
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Land 0.70
Contingency 135.04
Margin Money 8.93
1 * * %

table below.

Quantity
Land 7.00 0.00 0.00
Cost 0.70
1 2' /
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8400 11000 924.00
Grade - M30) Cu.m
2266 3000 67.98
1000 2500 25.00
coat Sqm
500 2000 10.00
water Sqm
1 ! )
MT each.

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imported 580.63 884.72 975.17
844.00 884.72 1103.31
Import Duty 10% 58.06 88.47 97.52
CST 2.0% 5.27 0.00 2.56
Inland Freight 3.0% 17.42 26.54 29.26
Total P & M Cost *966.95 1043.97 1287.81


Savings due
Aeration System 54066 2973630 0% 2973630 0%
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Savings due
Centrifugal Fan 30686 1687752 30% 1181426 30%
Others 4048 222662 0% 222662 0%
4 Roof Exhausters 19879 1093323 0% 1093323 0%
7 (Wheat)**
Sweep Auger 33054 1817992 30% 1272594 30%
Others 6867 377663 0% 377663 0%
4 95450 5249764 25% 3937323 25%
TPH Wheat 67100 3690484 30% 2583338 30%
Dust Silo DB1 -63.3m3 14896 819253 30% 573477 30%
E2 78962 4342883 35% 2822874 35%
Others 24142 1327818 35% 863082 35%
Total 1675840 92171222 84399633
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Savings due
CST 2.0% 526730

1 # 3 + ' % -

Other Utilities
DG sets Nos. 2 2000000 40.00
- connection cost
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Other Utilities
process flow
Utilities
1 . %


1 0

1 1 ) ) /

assumptions:
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Debtors 1 -
Stores & Spares 3 -
Bank Finance 75%

Lakhs.
1 ) 4



Lakhs) TPC)
Equity 919.06 30.00%

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5 '%

5 2 '%
concession period
5 '%

year.


Rate of Basis
Escalation
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Rate of Basis
Escalation

2011-2012 156.13
2010-2011 143.32
2009-2010 130.81
2008-2009 126.02
2007-2008 116.63
2006-2007 111.35
2005-2006 104.47
CAGR 5.91%
5 ! ' '%

Charge.


Revenues (2013)
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Revenues (2013)

Concession.


been considered.
5 # '%

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8.1.4.1 Power Cost


Load Factor 21%

table below:

Cost Total Cost
Manpower Category
Clerks 1 144000 1.44
Peons 2 72000 1.44
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Rs./quintal 2.00
weighment
Rs./quintal 3.00
bags
Source: MM Analysis

India.


Duration Unit Value
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below:

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8.1.4.9 Taxation


Tax Rates Rates
Income Tax 32.45%
MAT 20.01%
same.
5 . 4

ROCE.

Equity IRR 14.05% -
DSCR 1.00 Times
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6 7


Change in
Capex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.61% 11.16% 12.66% 13.25%
Equity IRR 14.05% 13.24% 12.57% 14.88% 15.82%
DSCR 1.00 0.94 0.89 1.06 1.12
Source: MM Analysis

in the above table.
6 '


Project IRR 12.14% 13.65% 15.14% 10.58% 9.00%
Equity IRR 14.05% 16.51% 19.15% 11.71% 9.50%
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DSCR 1.00 1.17 1.35 0.82 0.65
Source: MM Analysis

each other.


Equity IRR 14.05% 10.31%
DSCR 1.00 0.72
Source: MM Analysis

6! 7
follows:

Change in Opex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.79% 11.45% 12.44% 12.78%
Equity IRR 14.05% 13.51% 12.99% 14.54% 15.10%
DSCR 1.00 0.96 0.92 1.04 1.08
Source: MM Analysis
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6# 8$4
are tabulated as:

Base Case -
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis

below:

Base
(INR lakhs) 3061.86 2755.68 2449.49 2296.40 2143.30 1990.21 1837.12
Project IRR 9.59% 10.53% 11.63% 12.27% 12.98% 13.78% 14.70%
Equity IRR 10.31% 11.65% 13.32% 14.34% 15.53% 16.97% 18.73%
DSCR 0.72 0.80 0.90 0.96 1.03 1.10 1.19
Source: MM Analysis
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6. - 9 4 : 8$4 3;'

0% 10% 20% 25% 30% 35% 40%

100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
after 10 years
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
Source: MM Analysis
' : %% :
GoI.
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1.20 times.
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
1 Jabalpur 154.6 156.3 184.0 N.A. 126.6 171.5 158.6 280.5 284.9
2 Katni 86.6 75.4 70.9 N.A. 39.6 74.3 70.8 59.0 96.7
3 Balaghat 17.4 7.9 22.1 N.A. 13.2 12.3 19.5 22.9 29.8
4 Chhindwara 170.2 145.6 144.1 N.A. 223.4 175.2 425.2 388.9 748.4
5 Seoni 93.1 77.7 88.8 N.A. 93.4 90.1 90.5 102.1 127.5
6 Mandla 26.8 26.6 28.5 N.A. 25.3 26.6 23.0 16.7 17.6
7 Dindori 21.9 24.0 18.4 N.A. 14.9 19.4 19.1 16.0 33.7
8 Narsinghpur 181.7 168.9 172.6 N.A. 157.5 189.7 169.4 226.9 253.2
9 Sagar 183.7 173.1 176.4 N.A. 131.8 188.2 244.5 186.5 295.1
10 Damoh 96.6 97.8 102.1 N.A. 99.8 131.8 136.3 171.4 197.0
11 Panna 78.9 76.7 74.9 N.A. 53.2 88.3 97.1 89.1 103.7
12 Tikamgarh 250.3 174.8 79.0 N.A. 28.0 209.2 168.3 99.0 241.5
13 Chhatarpur 249.6 243.7 180.5 N.A. 60.1 195.8 203.9 169.1 199.5
14 Rewa 204.4 181.1 170.8 N.A. 99.3 165.3 158.0 111.3 215.4
15 Sidhi 76.6 67.2 64.1 N.A. 54.7 47.0 45.4 38.1 67.4
16 Singroli 0.0 0.0 0.0 N.A. 0.0 28.9 35.0 35.1 60.9
17 Satna 197.7 173.9 184.3 N.A. 88.5 147.8 173.1 119.1 202.2
18 Shahdol 16.6 16.4 17.2 N.A. 18.0 20.7 16.9 17.1 33.3
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
19 Anuppur 10.2 9.0 10.2 N.A. 8.2 9.1 8.8 7.0 17.4
20 Umaria 23.1 20.8 21.9 N.A. 18.6 22.7 20.5 19.9 28.6
21 Indore 287.2 304.9 88.7 N.A. 244.3 134.4 220.1 271.3 252.7
22 Dhar 350.7 341.4 138.1 N.A. 500.0 298.8 354.9 453.5 379.5
23 Jhabua 53.7 56.6 49.0 N.A. 77.3 33.6 44.6 51.6 63.5
24 Khargone 149.2 126.9 57.9 N.A. 181.8 98.5 224.9 276.6 340.0
25 Barwani 61.2 50.0 18.0 N.A. 51.9 62.1 49.1 83.1 114.9
26 Khandwa 88.1 73.5 88.8 N.A. 107.9 115.6 120.1 154.8 211.1
27 Burhanpur 17.5 16.7 16.5 N.A. 19.9 20.2 19.4 24.8 31.7
28 Alirajpur 0.0 0.0 0.0 N.A. 0.0 25.3 24.8 28.6 32.9
29 Ujjain 223.4 345.6 114.1 N.A. 341.1 184.3 318.6 237.8 375.0
30 Mandsaur 57.5 134.4 51.1 N.A. 131.2 126.6 156.9 122.7 229.3
31 Neemuch 49.0 74.4 63.2 N.A. 59.0 74.9 61.8 92.1 101.5
32 Ratlam 182.4 203.8 138.0 N.A. 228.9 196.4 218.3 276.8 309.4
33 Dewas 218.8 225.4 89.1 N.A. 215.0 211.0 247.9 247.5 375.0
34 Shajapur 148.3 180.2 68.2 N.A. 164.9 134.8 221.4 182.1 297.7
35 Morena 210.4 207.3 220.7 N.A. 159.8 184.8 179.8 221.8 222.7
36 Sheopur Kalan 109.4 78.7 90.9 N.A. 93.4 94.3 144.0 173.5 191.2
37 Bhind 151.0 133.3 142.2 N.A. 102.5 177.9 214.2 185.2 163.3
38 Gwalior 274.3 236.3 244.9 N.A. 111.4 229.1 189.9 254.0 346.8
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
39 Shivpuri 262.4 216.5 225.5 N.A. 110.1 224.0 250.4 298.1 247.8
40 Guna 106.0 103.2 124.9 N.A. 119.4 143.4 127.4 187.9 243.1
41 Ashoknagar 123.8 120.4 138.8 N.A. 119.9 148.0 173.0 193.0 233.2
42 Datia 180.9 139.1 148.5 N.A. 151.8 229.4 290.8 260.2 346.1
43 Bhopal 108.2 135.4 115.2 N.A. 120.1 126.7 147.1 127.5 304.2
44 Sehore 346.8 364.9 233.4 N.A. 189.0 226.9 401.1 327.2 666.8
45 Raisen 277.1 279.3 311.9 N.A. 203.9 266.9 376.5 278.4 622.0
46 Vidisha 332.9 335.2 310.8 N.A. 202.4 259.6 370.4 341.6 402.1
47 Rajgarh 102.7 102.6 45.9 N.A. 103.7 85.8 145.3 140.4 282.2
48 Hoshangabad 439.3 449.7 429.0 N.A. 698.6 607.4 700.1 854.0 1135.4
49 Harda 179.8 238.6 231.1 N.A. 153.4 168.0 181.6 560.7 639.9
50 Betul 125.2 128.8 145.1 N.A. 412.6 369.6 407.0 137.3 281.0
Non Reported 7.4 7.4 7.4 N.A. 7.4 7.4 7.4 7.4 7.4
State 7364.6 7327.4 5957.7 N.A. 6736.7 7279.6 8872.7 9227.2 12703.2
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Betul 11705 33047 17573 24948 25727 60251 29725 91862 69513 82268
2 Bhopal 23330 52900 48271 88307 86209 51215 53075 140663 178733 261643
3 Harda 132375 204832 114803 216925 260224 353681 255571 312373 453863 464200
4 Hoshangabad 344708 385572 302337 406767 479281 673887 509486 611476 847351 998493
5 Raisen 84321 177899 152421 87284 100889 135917 109270 260513 375758 512195
6 Rajgarh 37711 89686 78828 40666 130838 90279 59194 153371 208688 283189
7 Sehore 123628 222887 143336 121465 207610 215006 135712 296672 436969 506010
8 Vidisha 122584 167179 150908 119927 155679 125710 116095 240269 339373 423289
9 Alirajpur 12442 14057 12297 13577 20107 14294 18725 9694 10760 7135
10 Badwani 9086 11844 17750 20196 38373 29988 14448 17987 31118 41086
11 Burhanpur 1855 6501 2583 2817 7682 21271 9732 6329 12024 11188
12 Dhar 104407 219042 196744 153720 325773 278790 162089 199203 286591 298197
13 Indore 112082 208151 128666 44632 251835 215229 112581 170223 294535 269210
14 Jhabua 41476 48576 50107 48308 39728 56452 43338 42259 40450 43882
15 Khandwa 34820 30607 35613 50319 129600 86217 79436 90299 133707 156492
16 Khargone 35866 46224 47050 36621 83425 155965 70716 120286 174343 196079
17 Dewas 53984 153601 115988 80333 189630 214748 141619 165153 341695 334456
18 Mandsour 6786 8886 44342 17803 109211 85025 55050 123018 86674 159112
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Neemuch 27268 19787 49228 86585 145758 161547 52124 80706 124328 125768
20 Ratlam 15372 42243 54049 32494 130094 151022 44831 86886 107144 164427
21 Shajapur 55421 108925 100211 87388 167407 124488 47914 138299 156052 239204
22 Ujjain 31422 118074 98759 45592 263189 300612 66342 180354 267268 400991
23 Ashoknagar 42132 71283 52754 36039 55296 49887 75525 96073 157955 152912
24 Bhind 34845 29881 10414 27080 43932 54215 73065 60686 99864 118580
25 Datia 68588 60124 25017 35504 87779 87198 126988 150860 223675 180537
26 Guna 30946 33730 47906 51985 92878 73050 97148 116420 192514 183988
27 Gwalior 59913 103706 43118 65472 83866 96615 150230 158083 198436 160763
28 Morena 63170 58806 16922 58213 68537 73410 77496 102659 146344 154475
29 Sheopur 37378 35309 34709 54477 74462 101207 71538 85716 159288 223454
30 Shivpuri 56264 81244 56203 59209 78491 49325 149263 152919 201982 280208
31 Chhatarpur 41664 105645 107418 53470 30836 7070 177835 145627 165158 281249
32 Damoh 29471 55343 58940 67725 69246 47998 60202 97265 99459 126435
33 Panna 12497 9676 7582 5566 3882 3213 11666 16551 20589 62809
34 Sagar 93376 152353 180426 128469 128008 56100 140563 214801 287510 321752
35 Tikamgarh 89289 157514 101735 59118 50941 21156 237595 213731 244239 437649
36 Balaghat 7556 19305 6405 15909 14245 14472 6346 6275 3798 7381
37 Chhindwara 26599 38173 57271 63252 62730 78111 43700 133300 135756 126418
38 Dindori 4274 11310 10108 6972 9019 8036 9425 12283 12497 12867
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Jabalpur 73976 82071 80481 90649 119138 154398 186683 207845 291626 343276
40 Katni 49833 66539 48528 68326 59973 86510 75646 77825 88290 82344
41 Mandla 8045 11052 12832 9963 16548 19530 27957 33109 33792 45530
42 Narsingpur 42732 42512 29574 40532 38570 50178 60860 82020 111196 0
43 Seoni 33773 48691 34368 55429 67705 101939 63788 140766 170468 216564
44 Anuppur 208 383 476 393 393 492 801 783 842 2621
45 Rewa 35042 31824 41844 45459 53464 39244 74142 61620 48792 105800
46 Satna 63187 87050 47976 57982 52795 77105 109618 105022 112828 208733
47 Shahdol 10750 14849 19580 17056 18877 16674 9252 14546 12165 14500
48 Sidhi 8357 16862 33136 28885 27247 11515 32221 56377 15628 34199
49 Singrauli 0 0 0 0 0 0 0 0 2118 0
50 Umaria 9590 12971 7979 7472 12116 9369 18467 17105 20350 19781
State 2456104 3808726 3135566 3037280 4769243 4989611 4355093 6098162 8234096 9883339
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Bhopal 0 10609 12147 0 3570 43514 27309 92288 117085 241604
2 Sehore 6784 16051 27029 0 1201 105958 67656 194513 233992 415721
3 Raisen 39465 63704 86632 0 8061 86630 126478 210127 326778 511572
4 Biora 0 759 2806 0 56
5 Vidisha 238 2136 7319 0 144 23069 18627 78738 135170 325127
6 Betul 22 67 86 0 24 34715 20099 64831 61269 98933
7 H'bad 53874 72520 118770 0 13768 412263 405542 545052 731102 950528
8 Harda 11330 24530 70266 0 8134 238665 241879 314298 467133 539855
9 Indore 0 521 7108 0 184 87351 8015 72003 128350 217551
10 Jhabua 0 0 143 0 0 26815 1777 9367 13474 26130
11 Dhar 0 0 3387 0 1857 75700 22698 90671 168561 230253
12 Khargone 0 0 514 0 0 68794 12026 78161 113088 169401
13 Badwani 0 0 10 0 0 16473 3894 10147 25133 40742
14 Khandwa 12 0 99 0 0 26669 21257 57594 104552 178217
15 Burhanpur 0 0 4 0 0 18202 7397 4000 7644 7627
16 Ujjain 0 688 34349 0 2730 206768 5307 119511 179529 361380
17 Dewas 0 2768 8191 0 500 81172 21821 109036 166466 280488
18 Ratlam 0 0 4975 0 1831 83027 5005 29095 43034 107223
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Mandsour 0 0 934 0 480 28808 4854 33626 32973 90745
20 Neemuch 0 0 551 0 781 26092 5086 5052 18979 42972
21 Shajapur 0 7395 14243 0 71 57561 6886 105037 124028 248057
22 Sagar 3530 8569 4860 0 5 19469 53347 94877 110468 235440
23 Damoh 2029 2513 3063 0 34 21697 39649 60080 65530 133253
24 Panna 1005 1509 1781 0 0 828 7268 12416 19206 58346
25 Chhatarpur 17567 29499 10821 0 0 1778 53541 73003 83528 179432
26 Tikamgarh 12743 32597 12214 0 0 5441 93770 66945 65510 164710
27 Jabalpur 2583 1055 557 0 0 61942 86825 74788 139750 266974
28 Chhindwara 0 50 0 0 82 26828 13963 71721 85161 139291
29 Balaghat 0 0 0 0 0 3158 2503 1989 2740 3766
30 Mandla 337 362 244 0 73 9929 11006 16952 21467 36394
31 Dindori 0 0 0 0 0 42 275 650 1110 3685
32 Seoni 120 1734 2046 0 36 58649 30021 79410 109087 195877
33 Narsingpur 4496 6805 3503 0 168 36001 42912 68803 112711 156303
34 Katni 1952 1950 1174 0 2 18231 16098 28003 44258 95532
35 Rewa 720 831 363 0 68 11366 23585 21877 25596 98206
36 Sidhi 5301 5728 1195 0 2 9207 7680 7181 8223 20629
37 Satna 24595 1186 1025 0 0 17586 45944 44592 43189 126429
38 Shahdole 1485 2461 1444 0 0 4024 7932 8830 11088 18013
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Anoop Pur 0 0 9 0 0 36 199 205 318 1919
40 Umaria 2014 2647 2064 0 315 3132 6940 7353 8601 20157
41 Gwalior 1788 8646 7294 0 9 66380 64817 61344 103458 171078
42 Datia 5089 8140 5645 0 828 42277 36977 68372 79521 160628
43 Shivpuri 534 10297 3496 0 454 18171 55104 78005 86772 194162
44 Guna 0 2219 7835 0 4108 27961 52587 54593 83523 159213
45 Ashoknagar 0 0 1416 0 0 13190 24419 36519 56453 116359
46 Bhind 387 1037 174 0 8 28268 24001 32273 48106 81454
47 Murena 0 464 0 0 0 41981 47493 74553 86117 133784
48 Sheopurkala 19 16668 12119 0 7895 88924 58910 87248 147196 214234
49 Alirajpur 0 808 1079 3383 3428
50 Rajgarh 25130 17707 70392 103021 217432
51 Singroli 0 7251 10349 11528 17442
Grand Total 7817 47471 37979 0 13302 352282 390074 574727 809078 1469214
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Co-
Mandi operative
1 Bhopal 5300 25000 45740 27000 0 41537 1700 8310 154587
2 Hoshangabad 130421 80000 0 11000 48000 657747 11500 12260 950928
3 Harda 65570 0 0 3000 0 188620 4200 3900 265290
4 Sehore 27000 0 0 9600 48490 130594 6400 14360 236444
5 Rajgarh 17000 0 0 15000 0 130868 6000 1485 170353
6 Betul 13000 10000 0 7000 0 64072 3000 12790 109862
7 Raisen 43537 0 0 17500 0 179498 5000 9950 255485
8 Vidisha 44150 10000 0 18000 0 278189 4500 16050 370889
9 Bhind 17200 0 26000 11900 0 37880 2200 15450 110630
10 Datia 27600 7500 0 7000 0 31057 500 5355 79012
11 Guna 51440 0 0 14000 0 82247 7600 9300 164587
12 Ashoknagar 26000 11920 0 6000 0 75307 3000 0 122227
13 Gwalior 37300 12500 19750 14050 0 214406 3400 7990 309396
14 Murena 15400 0 64250 11000 30200 207824 6400 8200 343274
15 Sheopur 9200 11280 31000 5300 0 49516 4900 0 111196
16 Shivpuri 32800 0 0 8100 0 118366 3100 6450 168816
17 Balaghat 18600 44290 10000 20950 0 4798 3300 9710 111648
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
18 Chindwara 28250 0 0 11800 27052 62493 4900 19530 154025
19 Jabalpur 42350 10640 0 6875 0 196597 9100 15500 281062
20 Katni 5400 8640 25100 10000 0 93349 2000 0 144489
21 Narsinghpur 18666 0 19150 10700 0 85548 7100 20200 161364
22 Seoni 19000 8340 0 10000 0 77989 2800 7350 125479
23 Mandla 9180 0 0 17625 0 9936 2200 8090 47031
24 Dindori 4530 0 0 2000 0 0 0 0 6530
25 Dhar 31900 0 5000 12775 0 96858 13700 13070 173303
26 Indore 14310 0 77750 24000 0 283865 8500 10900 419325
27 Khandwa 3125 0 97367 17150 0 111510 7950 26115 263217
28 Barwani 10977 0 0 1000 0 15500 0 27477
29 Jhabua 20600 5000 0 3000 0 17653 5100 15030 66383
30 Alirajpur 6800 0 0 0 0 0 0 0 6800
31 Khargone 22450 0 0 8000 10944 51321 20700 33630 147045
32 Dewas 75050 0 0 13850 0 147083 8200 10620 254803
33 Burhanpur 0 0 27200 5000 0 1855 7350 0 41405
34 Ujjain 48916 15000 0 12000 38400 233371 10500 23845 382032
35 Mandsour 41400 0 0 8650 0 83132 3200 19370 155752
36 Neemuch 21846 0 0 7000 0 143270 2100 0 174216
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
37 Ratlam 43400 8980 0 19500 0 160431 22400 15300 270011
38 Rajapur 38385 0 8000 12000 0 186987 5500 15420 266292
39 Chhatarpur 28400 10000 0 10400 0 144646 2400 12850 208696
40 Panna 5000 0 0 6000 0 31333 200 4325 46858
41 Tikamgarh 22800 33140 0 15400 0 50927 2400 11200 135867
42 Sagar 47000 3780 0 18900 0 167730 10500 0 247910
43 Damoh 13600 0 0 12000 0 227594 1500 10200 264894
44 Anuppur 4000 0 0 0 0 0 500 4500
45 Satna 36986 6920 0 18280 0 22389 4500 12040 101115
46 Shahdol 12000 5640 0 21375 0 0 2000 0 41015
47 Singroli 2000 0 0 0 0 0 0 0 2000
48 Sidhi 7800 0 0 8575 4000 0 0 14830 35205
49 Rewa 14400 0 0 9575 0 12696 700 7950 45321
50 Umaria 2800 0 0 3000 0 0 0 0 5800
State 1284839 328570 456307 542830 207086 5193089 260200 468925 8741846
320162/MCB/ISA/AA/01 22 May 2013

Confidential

320162/MCB/ISA/AA/01 22 May 2013

Confidential
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Base Case
7. Tax Computation
320162/MCB/ISA/AA/01 22 May 2013


P & P Exp. 218.77 7.14%
VGF 0.00

Total 3063.52

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Revenues
Storage Charge
Variable Charge 35.64 37.74 39.97 42.33 44.83 47.48 50.29 53.26 56.41 59.74 63.27 67.01 70.96 75.16 79.60 84.30 89.28 94.55 100.14 106.06 112.32 118.96 125.98 133.43 141.31 149.66 158.50 167.86 177.78 188.28
Total Revenues 569.09 602.71 638.32 676.03 715.97 758.27 803.06 850.51 900.75 953.97 1010.33 1070.01 1133.23 1200.18 1271.08 1346.17 1425.70 1509.93 1599.13 1693.60 1793.66 1899.62 2011.85 2130.70 2256.58 2389.89 2531.08 2680.61 2838.98 3006.70
Expenditure
Power Cost 72.00 74.16 76.38 78.68 81.04 83.47 85.97 88.55 91.21 93.94 96.76 99.66 102.65 105.73 108.91 112.17 115.54 119.01 122.58 126.25 130.04 133.94 137.96 142.10 146.36 150.75 155.27 159.93 164.73 169.67
Fumigation Cost 16.20 17.01 17.86 18.75 19.69 20.68 21.71 22.80 23.93 25.13 26.39 27.71 29.09 30.55 32.07 33.68 35.36 37.13 38.99 40.94 42.98 45.13 47.39 49.76 52.25 54.86 57.60 60.48 63.51 66.68
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Depreciation 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
EBIT 165.12 187.87 212.07 237.80 265.16 248.44 279.37 312.25 347.19 384.33 377.98 419.92 464.48 511.81 562.09 615.51 672.23 732.48 796.46 864.40 936.54 1013.13 1094.44 1180.76 1272.39 1369.65 1472.88 1582.45 1698.72 1822.12
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Tax 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99


P & P Exp. 218.77

Total Dep 3054.58 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44

Total WDV 3054.58 2678.27 2350.22 2064.02 1814.13 1595.77 1404.80 1237.64 1091.21 962.84 850.21 751.30 664.38 587.93 520.64 461.36 409.11 363.01 322.31 286.35 254.56 226.44 201.53 179.47 159.92 142.57 127.17 113.50 101.34 90.54 80.93

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Current Assets
Debtors 47.42 50.23 53.19 56.34 59.66 63.19 66.92 70.88 75.06 79.50 84.19 89.17 94.44 100.01 105.92 112.18 118.81 125.83 133.26 141.13 149.47 158.30 167.65 177.56 188.05 199.16 210.92 223.38 236.58 250.56
Current Liabilities
Margin Money 8.93 9.58 10.27 11.00 11.78 9.73 10.60 11.52 12.50 13.53 11.76 12.92 14.15 15.46 16.84 18.30 19.86 21.50 23.24 25.09 27.04 29.12 31.32 33.64 36.11 38.72 41.49 44.43 47.54 50.84
Bank Finance 26.80 28.75 30.82 33.01 35.33 29.20 31.80 34.56 37.49 40.59 35.29 38.77 42.46 46.37 50.52 54.91 59.57 64.50 69.73 75.27 81.13 87.35 93.95 100.93 108.33 116.17 124.48 133.29 142.62 152.51

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 2144.46 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 62.04 62.04 55.14 48.25 41.36 34.46 27.57 20.68 13.79 6.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 62.04 60.31 53.42 46.53 39.63 32.74 25.85 18.96 12.06 5.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 62.04 58.59 51.70 44.80 37.91 31.02 24.13 17.23 10.34 3.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 62.04 56.87 49.97 43.08 36.19 29.29 22.40 15.51 8.62 1.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 1531.76 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 45.95 45.95 40.85 35.74 30.64 25.53 20.42 15.32 10.21 5.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 45.95 44.68 39.57 34.46 29.36 24.25 19.15 14.04 8.94 3.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 45.95 43.40 38.29 33.19 28.08 22.98 17.87 12.76 7.66 2.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 45.95 42.12 37.02 31.91 26.81 21.70 16.59 11.49 6.38 1.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 183.81 176.15 155.73 135.31 114.88 94.46 74.04 53.61 33.19 12.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 612.70 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 16.08 16.08 14.30 12.51 10.72 8.94 7.15 5.36 3.57 1.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 16.08 15.64 13.85 12.06 10.28 8.49 6.70 4.91 3.13 1.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 16.08 15.19 13.40 11.62 9.83 8.04 6.25 4.47 2.68 0.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 16.08 14.74 12.96 11.17 9.38 7.59 5.81 4.02 2.23 0.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 64.33 61.65 54.51 47.36 40.21 33.06 25.91 18.76 11.62 4.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Add: SLM Dep 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
Less: WDV Dep 376.32 328.05 286.20 249.89 218.36 190.97 167.16 146.43 128.37 112.64 98.91 86.92 76.45 67.29 59.27 52.25 46.10 40.70 35.96 31.79 28.13 24.90 22.06 19.56 17.35 15.40 13.67 12.15 10.80 9.61
Income/Loss -337.12 -256.00 -162.62 -73.27 12.91 51.88 133.89 214.74 294.96 375.03 400.28 453.78 508.37 564.39 622.20 682.10 744.43 809.48 877.58 949.02 1024.11 1103.18 1186.54 1274.53 1367.48 1465.75 1569.71 1679.74 1796.24 1919.65
Unabsorbed Loss -3062.82 -3399.94 -3655.94 -3818.56 -3891.83 -3878.93 -3827.04 -3693.15 -3478.41 -3183.45 -2808.42 -2408.14 -1954.36 -1445.98 -881.59 -259.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MAT 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 121.83 133.07 145.00 157.68 171.14 185.43 200.61 216.72 233.82 251.98 271.25 291.70 313.41 336.45 360.90
Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Tax Applicable 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cash Inflows
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Cash Outflows
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
Changes in Net CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Tax Paid 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Net Cashflow 8.93 30.26 -166.87 -115.39 -72.63 -28.95 -16.87 26.77 74.81 124.48 175.89 426.18 456.46 491.68 529.09 568.84 595.74 547.45 585.90 627.06 671.05 718.01 768.08 821.43 878.24 938.68 1002.97 1071.32 1143.96 1221.15 1303.13
Opening Cash 0.00 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74
Closing Cash 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Liabilities
Equity 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06
Long Term Loan 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Assets
Gross Block 3054.58 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16
Net Block 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16 -708.60
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash & Bank 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87
Total Assets 3004.08 2714.36 2476.29 2281.14 2129.85 1979.37 1884.17 1837.22 1840.16 1894.75 2188.41 2524.08 2895.24 3304.11 3753.03 4229.20 4657.41 5124.45 5633.04 6186.04 6786.44 7437.37 8142.16 8904.27 9727.38 10615.37 11572.33 12602.59 13710.74 14901.62

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99
Interest on LTL 167.63 160.65 142.02 123.40 104.77 86.15 67.52 48.89 30.27 11.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of LTL 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Change in CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Coverage 171.09 230.10 262.84 286.85 311.78 313.69 329.96 359.21 390.09 422.70 431.48 452.98 487.99 525.18 564.70 591.35 542.79 580.97 621.84 665.51 712.14 761.86 814.84 871.25 931.28 995.13 1063.01 1135.16 1211.82 1293.24
Debt Service 167.63 398.92 380.30 361.67 343.05 324.42 305.79 287.17 268.54 249.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSCR 1.02 0.58 0.69 0.79 0.91 0.97 1.08 1.25 1.45 1.69
Minimum DSCR 0.58
Average DSCR 1.00
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Project IRR 12.14%
Equity IRR 14.05%
Average ROCE 13.67%

Silo in Ujjain, Madhya
Pradesh
Feasibility Report
May 2013
Confidential
Silo in Ujjain, Madhya
Pradesh
P:\320162\MP Grain Silo\FM_Report\Submissions\Feasibility Draft
Report_Ujjain.doc
22 May 2013
Feasibility Report
May 2013
Confidential
Setting up of Steel Grain Silo in Ujjain, Madhya Pradesh
Confidential

Planning Commission
other parties

commissioned it.
Confidential
Content
1. Introduction 1
1.1 Report content _______________________________________________________________________ 1
3.3.2 Movement of grain in the proposed Silo facility at Ujjain _______________________________________ 9
4.4 Connectivity ________________________________________________________________________ 11

5.3 Mandi Arrivals _______________________________________________________________________ 22
Ujjain
Confidential
5.4 Procurement ________________________________________________________________________ 24

6.2 Storage Gap Assessment in Ujjain District ________________________________________________ 32

7.1 Project Cost ________________________________________________________________________ 34
7.1.6 Contingencies _______________________________________________________________________ 39
7.2 Means of Finance ____________________________________________________________________ 40

8.1 Assumptions ________________________________________________________________________ 41
8.1.2.2 Operating Days______________________________________________________________________ 41
8.1.4.1 Power Cost _________________________________________________________________________ 44
8.1.4.2 Manpower Cost______________________________________________________________________ 44
8.1.4.4 Fumigation Cost _____________________________________________________________________ 45
8.1.4.6 Insurance Cost ______________________________________________________________________ 46
8.1.4.8 Depreciation ________________________________________________________________________ 46
8.1.4.9 Taxation ___________________________________________________________________________ 47
9.1 Change in Capex ____________________________________________________________________ 48
Ujjain
Confidential

9.3 Change in Opex _____________________________________________________________________ 49
F.1. Buhler _____________________________________________________________________________ 53
F.2. Scafco _____________________________________________________________________________ 53
F.3. Agrosaw ___________________________________________________________________________ 53
Tables
Table 5.3: Wheat Production in Ujjain (2003-04 to 2011-12) ___________________________________________ 20
Table 5.5: Mandi Arrivals in Ujjain (2002-03 to 2012-13) ______________________________________________ 23
Table 5.7: Procurement of Wheat in Ujjain (2003-04 to 2012-13) _______________________________________ 26
Table 6.4: Storage Facilities in Ujjain (as on 28-09-2012) _____________________________________________ 31
Ujjain
Confidential

Table 8.9: Tax Rates __________________________________________________________________________ 47
Figures
Figure 5.3: Wheat Production in Ujjain (2002-03 to 2012-13*) __________________________________________ 21
Figure 5.5: Mandi Arrivals of Wheat in Ujjain (2002-03 to 2012-13) ______________________________________ 24
Figure 5.7: Wheat Procurement in Ujjain (2003-04 to 2012-13) _________________________________________ 27
Ujjain
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Ujjain
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Ujjain
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Executive Summary
capacity of 50,000 MT has been considered at the proposed site in Ujjain. This facility would have 4 bins,
Manpura village having an area of about 7 acres (following map). The proposed site is about 6 kms from
the nearest rail head. The Bitumen and WBM roads (cumulatively 3-4 Kms) are connecting rail head to the
site giving the site an advantage in rail connectivity. 2 Kms of kachcha road connects to the WBM road
which is under construction. The procurement centres are within the range of 20 kms of the site and have a
total procurement capacity of about 1,39,000 MT of wheat.
Proposed Site, Village: Manpura
years in Madhya Pradesh. The same trend is noted in the Ujjain district as well.
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Contingency 135.04
Margin Money 8.93
tabulated as:

Equity 919.06 30.00%
vii 320162/MCB/ISA/AA/01 22 May 2013

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Revenue Assumptions
Revenues (2013)
Equity IRR 14.05% -

Base
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
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Base
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis
Project IRR 12.14% 11.53% 10.86% 10.49% 9.69% 9.23%
Equity IRR 14.05% 13.22% 12.31% 11.80% 10.68% 10.03%
DSCR 1.00 1.00 1.00 1.00 1.00 1.00
Payback Period 9.96 9.96 9.96 9.96 9.96 9.96
life.

0% 10% 20% 25% 30% 35% 40%
100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
after 10 years
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
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20%.
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1. Introduction


This is the Feasibility Report of the Silo Project for Ujjain for the
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heads:



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years.
! "
! "
facility at Ujjain would be 50,000 MT. It is proposed that the facility will

# " $ %

process
• Land allotment




monitored Silos.

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! & '


18 months.



! (

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also available.

!! " ( "



Source: MM Research
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equipment.
!! % % "

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Depot Bagging
Debagging

Storage
Despatch – Chain
Conveyor, Bucket
Dispatch


storage point
godowns for storage
for issue to PDS
Source: MM Analysis
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!! ) % " *
facility.

Mechanized Receipts
Wheat - Farmers
Weighing
Storage
Dispatch – Chain
Conveyor, Bucket
Trucks for Further
Dispatch Bagging
Source: MM Analysis

as an Annexure G.
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# +
Ujjain is one of locations for the proposed Silo facilities in Madhya

MT of capacity is located in the Manpura village on an area of about 7
Patwari Halka No. 36, Survey No. 198, Village Manpura, Ujjain, Madhya
Pradesh.

below:
Proposed Site, Village: Manpura
# ' " ' , '% - %
The proposed site land of 7 acres in Manpura village has been allotted
to MPWLC. The possession of the same are has been given to
MPWLC. The documents pertaining to the land agreement/allotment
are attached as Appendix A. This land will be provided by MPWLC to
the developer for setting up the Silo in the premises.
#! *
MW. As informed by the MPWLC representative, Mr. P. K. Jain (Zonal
Engineer), the electricity to the proposed site can be easily made
available from the nearest electric line (LT line of 11 KVA) passing
adjacent to the site boundary. However, the separate transformer is
required at the project site for further connectivity to the silo facility.
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at the site.
##

The Zonal Engineer of MPWLC at Ujjain, Mr. P.K. Jain has provided the
details that the proposed site is about 6 kms from the nearest rail head.
The road connectivity of the site to the rail head is also in place by
pakka road of 4 kms, giving the site an advantage in rail connectivity.
The 2 kms of kachcha road is under construction.
Also, the state highway (Indore - Bhopal) is approximately at 8 kms

from the location. The pakka road (single lane) of 6 kms connects the
site to the State Highway. However to reach the pakka road, there is 2
kms of kachcha road which is under construction.

matter.

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Chimanganj Tilhan
Mandi Sandh Ujjain
Procurement Dhatitya Narwar
Centres within 20
kms radius of Silo Jaithal Tajpur
Talod Nagawa
Lekoda Panth Piplai
Borkheda Bhainsoda
Ambodiya Naikhedi
Rail Head / SH
Transportation
Source: MM Analysis

Chimanganj Mandi Ujjain Narwar Talod
Tihan Sandh Ujjain Jaithal Nagawa
Dhatitya Tajpur Lekoda
Ambodiya Naikhedi Nipaniya Goyal
Panth Piplai Borkheda Bhalla Bhainsoda
Source: MPWLC
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. / "'

below:
State Farmers Field

Production

Markfed

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Source: MM Analysis


location.
. / '
. " + "


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(%) (%)
2002-03 3381 4923 1456 -
2003-04 4091 7365 1800 49.60% 23.6
2004-05 4200 7327 1745 -0.52% -3.1
2005-06 3785 6200 1638 -15.38% -6.1
2006-07 4275 7848 1836 26.58% 12.1
2007-08 4101 6737 1643 -14.16% -10.5
2008-09 4010 7280 1815 8.06% 10.5
2009-10 4471 8873 1985 21.88% 9.3
2010-11 4645 9227 1986 3.99% 0.1
2011-12 4901 12703 2592 37.67% 30.5
2012-13 5434 16104 2964 26.77% 14.3

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18
16.1
16
14
Production (in MMT)
12.7
12
10 8.9 9.2
7.4 7.8
7.3
8 6.2 6.7 7.3
6
4
2
0
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year


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• 2009-10: 10.62%
• 2011-12: 18.69%
• 2012-13: 14.28%
crops:

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• Seed treatment
• Weed control


the soil

increase

of INR 150/quintal.

2012-13.


Pradesh:
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(In Lakh Ha)
2000-01 7.36 -
2001-02 9.40 27.72%
2002-03 7.69 -18.19%
2003-04 10.07 30.95%
2004-05 10.35 2.78%
2005-06 10.13 -2.13%
2006-07 9.37 -7.50%
2007-08 9.48 1.17%
2008-09 9.71 2.43%
2009-10 8.87 -8.65%
2010-11 9.76 10.03%
2011-12 16.34 67.42%
2012-13 20.21 23.66%

below.
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connection.
. + "
The wheat production of Ujjain district for the last 10 years is as

tabulated below.
Table 5.3: Wheat Production in Ujjain (2003-04 to 2011-12)

2002-03 0.062
2003-04 0.223
2004-05 0.346
2005-06 0.114
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2006-07 0.000
2007-08 0.341
2008-09 0.184
2009-10 0.319
2010-11 0.238
2011-12 0.375
2012-13* (proj.) 0.458
Wheat production in Ujjain shows an unpredictable trend during last

decade. However for last two years i.e. from 2010-11 onwards, it shows
the increasing trend. The following graph depicts the trend in wheat
production in Ujjain district over the period 2002-03 to 2012-13*.
Figure 5.3: Wheat Production in Ujjain (2002-03 to 2012-13*)
0.5
0.45 0.46
0.4
0.35 0.34 0.38
Production (in MMT)
0.35
0.32
0.3
0.25 0.22
0.24
0.2 0.18
0.15 0.11
0.1
0.06
0.05
0
2002-03 2003-04 2004-05 2005-06 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13*
Year

The short term (2008-09 to 2012-13) CAGR for Ujjain district is about
320162/MCB/ISA/AA/01 22 May 2013

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rate in the recent years.

.! )

.! " + "

2003-04 2.456 18.10%
2004-05 3.809 55.07%
2005-06 3.136 -17.67%
2006-07 3.037 -3.13%
2007-08 4.769 57.02%
2008-09 4.990 4.62%
2009-10 4.355 -12.72%
2010-11 6.098 40.02%
2011-12 8.234 35.03%
2012-13 9.883 20.03%
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2003-04 to 2012-13.

12.00
9.88
10.00
8.23
8.00
6.10
6.00
4.77 4.99
4.36
3.81
4.00 2.46 3.14 3.04
2.00
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
.! + "
The Mandi Arrivals of Ujjain district for the last 10 years is as tabulated
below
Table 5.5: Mandi Arrivals in Ujjain (2002-03 to 2012-13)

2002-03 0.025 -
2003-04 0.031 23.30%
2004-05 0.118 275.77%
2005-06 0.099 -16.36%
2006-07 0.046 -53.84%
2007-08 0.263 477.27%
2008-09 0.301 14.22%
2009-10 0.066 -77.93%
2010-11 0.180 171.85%
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2011-12 0.267 48.19%
2012-13 0.401 50.03%
The short term CAGR (2008-09 to 2012-13) for Ujjain district is about
wise Mandi Arrivals for Ujjain district for period 2002-03 to 2012-13.
Figure 5.5: Mandi Arrivals of Wheat in Ujjain (2002-03 to 2012-13)
0.45
0.4 0.401
0.35
0.3 0.301 0.267
0.263
0.25
0.2
0.18
0.15 0.118
0.1
0.0990.046
0.066
0.05 0.031
0 0.025
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Ujjain district have increased steeply over the last 3 years.

Appendix C.
.# ' %
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.# " + "


2003-04 0.200 -44.50%
2004-05 0.349 74.34%
2005-06 0.484 38.77%
2006-07 0.000 -
2007-08 0.057 -88.12%
2008-09 2.410 4092.61%
2009-10 1.967 -18.37%
2010-11 3.538 79.83%
2011-12 4.965 40.35%
2012-13 8.508 71.35%
Source: MPSCSCL

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9
8.508
8
7
5 4.965
4
3.538
3
2.41 1.967
2
1 0.2 0.484
0.349 0.057
0
0
2006-07
2003-04
2004-05
2005-06
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
.# + "

procurement by State Agencies in Ujjain district for the last 10 years is
as tabulated below.
Table 5.7: Procurement of Wheat in Ujjain (2003-04 to 2012-13)

2002-03 0.000
2003-04 0.000
2004-05 0.001
2005-06 0.034
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2006-07 0.000
2007-08 0.003
2008-09 0.207
2009-10 0.005
2010-11 0.120
2011-12 0.180
2012-13 0.361
Source: MPSCSCL


the State agencies in the Ujjain district is about 14.98% which shows
depicts wheat procurement in Ujjain district over the period 2003-04 to
2012-13
Figure 5.7: Wheat Procurement in Ujjain (2003-04 to 2012-13)

0.4
0.35 0.361
0.3
0.25
0.207 0.18
0.2
0.15 0.12
0.1
0.034 0.005
0.05
0 0 0.001 0 0.003
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
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.. "'%% / "

following table.

State Ujjain District State Ujjain District State Ujjain District
2002-03 4.923 0.062 - 0.025 - 0.000
2003-04 7.365 0.223 2.456 0.031 0.200 0.000
2004-05 7.327 0.346 3.809 0.118 0.349 0.001
2005-06 6.200 0.114 3.136 0.099 0.484 0.034
2006-07 7.848 0.000 3.037 0.046 0.000 0.000
2007-08 6.737 0.341 4.769 0.263 0.057 0.003
2008-09 7.280 0.184 4.990 0.301 2.410 0.207
2009-10 8.873 0.319 4.355 0.066 1.967 0.005
2010-11 9.227 0.238 6.098 0.180 3.538 0.120
2011-12 12.703 0.375 8.234 0.267 4.965 0.180
2012-13 16.104 0.458 9.883 0.401 8.508 0.361
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These are:
Corporations


Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
MPWLC 10.47 10.97 11.29 11.47 11.61 11.66 11.86
CWC 4.52 4.52 4.56 4.56 4.56 4.56 4.56
MARKFED 5.06 5.06 5.29 5.29 5.43 5.43 5.43
FCI 3.29 3.29 3.29 3.29 3.29 3.29 3.29
MANDI BOARD 2.57 2.57 2.62 2.62 2.62 2.62 2.62
CO-OPERATIVE SO. 4.63 4.63 4.63 4.63 4.63 4.63 4.63
LVS 2.92 2.92 4.00 4.00 4.00 4.00 4.00
OILFED 2.07 2.07 2.07 2.07 2.07 2.07 2.07
M.P.AGRO 0.31 0.31 0.31 0.31 0.31 0.31 0.31
NAFED 0.15 0.15 0.15 0.15 0.15 0.15 0.15
godon scheme) 18.64 26.23 33.51 39.56 44.90 53.13 69.08
RIDF MPWLC - - - - - - -
PEG godown (Prt.) - - - - - - -
PIG (SILO) - - - - - - -
MPWLC (SILO) - - - - - - -
PACAKAGE - - - - - - -
IAP - - - - - - -
Total 54.63 62.72 71.72 77.95 83.57 91.85 108.00
capacity (%) 14.81% 14.35% 8.69% 7.21% 9.91% 17.58%
Source: MPWLC
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(in Lakh Tonnes)
of 2014-15
MPWLC 6.23 18.09
CWC 1.30 5.86
MARKFED - 5.43
FCI - 3.29
MANDI BOARD - 2.62
LVS - 4.00
OILFED - 2.07
M.P.AGRO - 0.31
NAFED - 0.15
PIG (SILO) 3.50 3.50
PACAKAGE 6.50 6.50
IAP 1.80 1.80
(Early Bird) 15.00 15.00
Total 61.18 169.18
Source: MPWLC

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tabulated below:

Agency 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Name 2014-15
MPWLC 19% 17% 16% 15% 14% 13% 11% 21% 27%
CWC 8% 7% 6% 6% 5% 5% 4% 4% 3%
MARKFED 9% 8% 7% 7% 6% 6% 5% 4% 3%
FCI 6% 5% 5% 4% 4% 4% 3% 2% 2%
MANDI
BOARD 5% 4% 4% 3% 3% 3% 2% 2% 2%
Co-Op. Soc. 8% 7% 6% 6% 6% 5% 4% 3% 3%
Private 34% 42% 47% 51% 54% 58% 64% 55% 50%
Others 10% 9% 9% 8% 8% 7% 6% 9% 11%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Source: MPWLC
Agency wise present storage facilities in the district of Ujjain are

tabulated below.
Table 6.4: Storage Facilities in Ujjain (as on 28-09-2012)

(in MT)
1 WLC 48916
2 FCI 15000
3 CWC 0
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(in MT)
4 Markfed 12000
5 Olifed 38400
6 Private 233371
7 Mandi Board 10500
Total 382032
Source: MPWLC
0 " $ % *

Ujjain.

production in Ujjain about 87.58% of the wheat was traded at mandis.




2011-12 (actual) 375000 267268 382032 -114764
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2012-13 457852 400991 449205 -48214
2013-14 495851 434272 576438 -142166
2014-15 537005 470314 703671 -233356
2015-16 581574 509349 703671 -194322
2016-17 629843 551622 703671 -152048
2017-18 682117 597405 703671 -106266
2018-19 716223 627275 703671 -76396
2019-20 752034 658639 703671 -45032
2020-21 789636 691571 703671 -12100
2021-22 829117 726149 703671 22479
2022-23 870573 762457 703671 58786
2023-24 895907 784644 703671 80973
2024-25 921978 807478 703671 103807
2025-26 948808 830975 703671 127304
2026-27 976418 855157 703671 151486
2027-28 1004832 880042 703671 176371
2028-29 1034072 905651 703671 201980
2029-30 1064164 932005 703671 228334
2030-31 1095131 959127 703671 255456
2031-32 1126999 987037 703671 283366
2032-33 1159795 1015760 703671 312089
Source: MM Analysis
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Land 0.70
Contingency 135.04
Margin Money 8.93
1 + + %

table below.

Quantity
Land 7.00 0.00 0.00
Cost 0.70
1 2' /
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8400 11000 924.00
Grade - M30) Cu.m
2266 3000 67.98
1000 2500 25.00
coat Sqm
500 2000 10.00
water Sqm
1 ! )
MT each.

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imported 580.63 884.72 975.17
844.00 884.72 1103.31
Import Duty 10% 58.06 88.47 97.52
CST 2.0% 5.27 0.00 2.56
Inland Freight 3.0% 17.42 26.54 29.26
Total P & M Cost *966.95 1043.97 1287.81


Savings due
Aeration System 54066 2973630 0% 2973630 0%
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Savings due
Centrifugal Fan 30686 1687752 30% 1181426 30%
Others 4048 222662 0% 222662 0%
4 Roof Exhausters 19879 1093323 0% 1093323 0%
7 (Wheat)**
Sweep Auger 33054 1817992 30% 1272594 30%
Others 6867 377663 0% 377663 0%
4 95450 5249764 25% 3937323 25%
TPH Wheat 67100 3690484 30% 2583338 30%
Dust Silo DB1 -63.3m3 14896 819253 30% 573477 30%
E2 78962 4342883 35% 2822874 35%
Others 24142 1327818 35% 863082 35%
Total 1675840 92171222 84399633
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Savings due
CST 2.0% 526730

1 # 3 , ' % *

Other Utilities
DG sets Nos. 2 2000000 40.00
- connection cost
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Other Utilities
process flow
Utilities
1 . %


1 0

1 1 ) ) /

assumptions:
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Debtors 1 -
Stores & Spares 3 -
Bank Finance 75%

Lakhs.
1 ) 4



Lakhs) TPC)
Equity 919.06 30.00%

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5 '%

5 2 '%
concession period
5 '%

year.


Rate of Basis
Escalation
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Rate of Basis
Escalation

2011-2012 156.13
2010-2011 143.32
2009-2010 130.81
2008-2009 126.02
2007-2008 116.63
2006-2007 111.35
2005-2006 104.47
CAGR 5.91%
5 ! ' '%

Charge.


Revenues (2013)
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Revenues (2013)

Concession.


been considered.
5 # '%

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8.1.4.1 Power Cost


Load Factor 21%

table below:

Cost Total Cost
Manpower Category
Clerks 1 144000 1.44
Peons 2 72000 1.44
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Rs./quintal 2.00
weighment
Rs./quintal 3.00
bags
Source: MM Analysis

India.


Duration Unit Value
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below:

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8.1.4.9 Taxation


Tax Rates Rates
Income Tax 32.45%
MAT 20.01%
same.
5 . 4

ROCE.

Equity IRR 14.05% -
DSCR 1.00 Times
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6 7


Change in
Capex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.61% 11.16% 12.66% 13.25%
Equity IRR 14.05% 13.24% 12.57% 14.88% 15.82%
DSCR 1.00 0.94 0.89 1.06 1.12
Source: MM Analysis

in the above table.
6 '


Project IRR 12.14% 13.65% 15.14% 10.58% 9.00%
Equity IRR 14.05% 16.51% 19.15% 11.71% 9.50%
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DSCR 1.00 1.17 1.35 0.82 0.65
Source: MM Analysis

each other.


Equity IRR 14.05% 10.31%
DSCR 1.00 0.72
Source: MM Analysis

6! 7
follows:

Change in Opex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.79% 11.45% 12.44% 12.78%
Equity IRR 14.05% 13.51% 12.99% 14.54% 15.10%
DSCR 1.00 0.96 0.92 1.04 1.08
Source: MM Analysis
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6# 8$4
are tabulated as:

Base Case -
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis

below:

Base
(INR lakhs) 3061.86 2755.68 2449.49 2296.40 2143.30 1990.21 1837.12
Project IRR 9.59% 10.53% 11.63% 12.27% 12.98% 13.78% 14.70%
Equity IRR 10.31% 11.65% 13.32% 14.34% 15.53% 16.97% 18.73%
DSCR 0.72 0.80 0.90 0.96 1.03 1.10 1.19
Source: MM Analysis
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6. * 9 4 : 8$4 3;'

0% 10% 20% 25% 30% 35% 40%

100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
after 10 years
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
Source: MM Analysis
' : %% :
GoI.
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1.20 times.
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
1 Jabalpur 154.6 156.3 184.0 N.A. 126.6 171.5 158.6 280.5 284.9
2 Katni 86.6 75.4 70.9 N.A. 39.6 74.3 70.8 59.0 96.7
3 Balaghat 17.4 7.9 22.1 N.A. 13.2 12.3 19.5 22.9 29.8
4 Chhindwara 170.2 145.6 144.1 N.A. 223.4 175.2 425.2 388.9 748.4
5 Seoni 93.1 77.7 88.8 N.A. 93.4 90.1 90.5 102.1 127.5
6 Mandla 26.8 26.6 28.5 N.A. 25.3 26.6 23.0 16.7 17.6
7 Dindori 21.9 24.0 18.4 N.A. 14.9 19.4 19.1 16.0 33.7
8 Narsinghpur 181.7 168.9 172.6 N.A. 157.5 189.7 169.4 226.9 253.2
9 Sagar 183.7 173.1 176.4 N.A. 131.8 188.2 244.5 186.5 295.1
10 Damoh 96.6 97.8 102.1 N.A. 99.8 131.8 136.3 171.4 197.0
11 Panna 78.9 76.7 74.9 N.A. 53.2 88.3 97.1 89.1 103.7
12 Tikamgarh 250.3 174.8 79.0 N.A. 28.0 209.2 168.3 99.0 241.5
13 Chhatarpur 249.6 243.7 180.5 N.A. 60.1 195.8 203.9 169.1 199.5
14 Rewa 204.4 181.1 170.8 N.A. 99.3 165.3 158.0 111.3 215.4
15 Sidhi 76.6 67.2 64.1 N.A. 54.7 47.0 45.4 38.1 67.4
16 Singroli 0.0 0.0 0.0 N.A. 0.0 28.9 35.0 35.1 60.9
17 Satna 197.7 173.9 184.3 N.A. 88.5 147.8 173.1 119.1 202.2
18 Shahdol 16.6 16.4 17.2 N.A. 18.0 20.7 16.9 17.1 33.3
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
19 Anuppur 10.2 9.0 10.2 N.A. 8.2 9.1 8.8 7.0 17.4
20 Umaria 23.1 20.8 21.9 N.A. 18.6 22.7 20.5 19.9 28.6
21 Indore 287.2 304.9 88.7 N.A. 244.3 134.4 220.1 271.3 252.7
22 Dhar 350.7 341.4 138.1 N.A. 500.0 298.8 354.9 453.5 379.5
23 Jhabua 53.7 56.6 49.0 N.A. 77.3 33.6 44.6 51.6 63.5
24 Khargone 149.2 126.9 57.9 N.A. 181.8 98.5 224.9 276.6 340.0
25 Barwani 61.2 50.0 18.0 N.A. 51.9 62.1 49.1 83.1 114.9
26 Khandwa 88.1 73.5 88.8 N.A. 107.9 115.6 120.1 154.8 211.1
27 Burhanpur 17.5 16.7 16.5 N.A. 19.9 20.2 19.4 24.8 31.7
28 Alirajpur 0.0 0.0 0.0 N.A. 0.0 25.3 24.8 28.6 32.9
29 Ujjain 223.4 345.6 114.1 N.A. 341.1 184.3 318.6 237.8 375.0
30 Mandsaur 57.5 134.4 51.1 N.A. 131.2 126.6 156.9 122.7 229.3
31 Neemuch 49.0 74.4 63.2 N.A. 59.0 74.9 61.8 92.1 101.5
32 Ratlam 182.4 203.8 138.0 N.A. 228.9 196.4 218.3 276.8 309.4
33 Dewas 218.8 225.4 89.1 N.A. 215.0 211.0 247.9 247.5 375.0
34 Shajapur 148.3 180.2 68.2 N.A. 164.9 134.8 221.4 182.1 297.7
35 Morena 210.4 207.3 220.7 N.A. 159.8 184.8 179.8 221.8 222.7
36 Sheopur Kalan 109.4 78.7 90.9 N.A. 93.4 94.3 144.0 173.5 191.2
37 Bhind 151.0 133.3 142.2 N.A. 102.5 177.9 214.2 185.2 163.3
38 Gwalior 274.3 236.3 244.9 N.A. 111.4 229.1 189.9 254.0 346.8
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
39 Shivpuri 262.4 216.5 225.5 N.A. 110.1 224.0 250.4 298.1 247.8
40 Guna 106.0 103.2 124.9 N.A. 119.4 143.4 127.4 187.9 243.1
41 Ashoknagar 123.8 120.4 138.8 N.A. 119.9 148.0 173.0 193.0 233.2
42 Datia 180.9 139.1 148.5 N.A. 151.8 229.4 290.8 260.2 346.1
43 Bhopal 108.2 135.4 115.2 N.A. 120.1 126.7 147.1 127.5 304.2
44 Sehore 346.8 364.9 233.4 N.A. 189.0 226.9 401.1 327.2 666.8
45 Raisen 277.1 279.3 311.9 N.A. 203.9 266.9 376.5 278.4 622.0
46 Vidisha 332.9 335.2 310.8 N.A. 202.4 259.6 370.4 341.6 402.1
47 Rajgarh 102.7 102.6 45.9 N.A. 103.7 85.8 145.3 140.4 282.2
48 Hoshangabad 439.3 449.7 429.0 N.A. 698.6 607.4 700.1 854.0 1135.4
49 Harda 179.8 238.6 231.1 N.A. 153.4 168.0 181.6 560.7 639.9
50 Betul 125.2 128.8 145.1 N.A. 412.6 369.6 407.0 137.3 281.0
Non Reported 7.4 7.4 7.4 N.A. 7.4 7.4 7.4 7.4 7.4
State 7364.6 7327.4 5957.7 N.A. 6736.7 7279.6 8872.7 9227.2 12703.2
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Betul 11705 33047 17573 24948 25727 60251 29725 91862 69513 82268
2 Bhopal 23330 52900 48271 88307 86209 51215 53075 140663 178733 261643
3 Harda 132375 204832 114803 216925 260224 353681 255571 312373 453863 464200
4 Hoshangabad 344708 385572 302337 406767 479281 673887 509486 611476 847351 998493
5 Raisen 84321 177899 152421 87284 100889 135917 109270 260513 375758 512195
6 Rajgarh 37711 89686 78828 40666 130838 90279 59194 153371 208688 283189
7 Sehore 123628 222887 143336 121465 207610 215006 135712 296672 436969 506010
8 Vidisha 122584 167179 150908 119927 155679 125710 116095 240269 339373 423289
9 Alirajpur 12442 14057 12297 13577 20107 14294 18725 9694 10760 7135
10 Badwani 9086 11844 17750 20196 38373 29988 14448 17987 31118 41086
11 Burhanpur 1855 6501 2583 2817 7682 21271 9732 6329 12024 11188
12 Dhar 104407 219042 196744 153720 325773 278790 162089 199203 286591 298197
13 Indore 112082 208151 128666 44632 251835 215229 112581 170223 294535 269210
14 Jhabua 41476 48576 50107 48308 39728 56452 43338 42259 40450 43882
15 Khandwa 34820 30607 35613 50319 129600 86217 79436 90299 133707 156492
16 Khargone 35866 46224 47050 36621 83425 155965 70716 120286 174343 196079
17 Dewas 53984 153601 115988 80333 189630 214748 141619 165153 341695 334456
18 Mandsour 6786 8886 44342 17803 109211 85025 55050 123018 86674 159112
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Neemuch 27268 19787 49228 86585 145758 161547 52124 80706 124328 125768
20 Ratlam 15372 42243 54049 32494 130094 151022 44831 86886 107144 164427
21 Shajapur 55421 108925 100211 87388 167407 124488 47914 138299 156052 239204
22 Ujjain 31422 118074 98759 45592 263189 300612 66342 180354 267268 400991
23 Ashoknagar 42132 71283 52754 36039 55296 49887 75525 96073 157955 152912
24 Bhind 34845 29881 10414 27080 43932 54215 73065 60686 99864 118580
25 Datia 68588 60124 25017 35504 87779 87198 126988 150860 223675 180537
26 Guna 30946 33730 47906 51985 92878 73050 97148 116420 192514 183988
27 Gwalior 59913 103706 43118 65472 83866 96615 150230 158083 198436 160763
28 Morena 63170 58806 16922 58213 68537 73410 77496 102659 146344 154475
29 Sheopur 37378 35309 34709 54477 74462 101207 71538 85716 159288 223454
30 Shivpuri 56264 81244 56203 59209 78491 49325 149263 152919 201982 280208
31 Chhatarpur 41664 105645 107418 53470 30836 7070 177835 145627 165158 281249
32 Damoh 29471 55343 58940 67725 69246 47998 60202 97265 99459 126435
33 Panna 12497 9676 7582 5566 3882 3213 11666 16551 20589 62809
34 Sagar 93376 152353 180426 128469 128008 56100 140563 214801 287510 321752
35 Tikamgarh 89289 157514 101735 59118 50941 21156 237595 213731 244239 437649
36 Balaghat 7556 19305 6405 15909 14245 14472 6346 6275 3798 7381
37 Chhindwara 26599 38173 57271 63252 62730 78111 43700 133300 135756 126418
38 Dindori 4274 11310 10108 6972 9019 8036 9425 12283 12497 12867
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Jabalpur 73976 82071 80481 90649 119138 154398 186683 207845 291626 343276
40 Katni 49833 66539 48528 68326 59973 86510 75646 77825 88290 82344
41 Mandla 8045 11052 12832 9963 16548 19530 27957 33109 33792 45530
42 Narsingpur 42732 42512 29574 40532 38570 50178 60860 82020 111196 0
43 Seoni 33773 48691 34368 55429 67705 101939 63788 140766 170468 216564
44 Anuppur 208 383 476 393 393 492 801 783 842 2621
45 Rewa 35042 31824 41844 45459 53464 39244 74142 61620 48792 105800
46 Satna 63187 87050 47976 57982 52795 77105 109618 105022 112828 208733
47 Shahdol 10750 14849 19580 17056 18877 16674 9252 14546 12165 14500
48 Sidhi 8357 16862 33136 28885 27247 11515 32221 56377 15628 34199
49 Singrauli 0 0 0 0 0 0 0 0 2118 0
50 Umaria 9590 12971 7979 7472 12116 9369 18467 17105 20350 19781
State 2456104 3808726 3135566 3037280 4769243 4989611 4355093 6098162 8234096 9883339
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Bhopal 0 10609 12147 0 3570 43514 27309 92288 117085 241604
2 Sehore 6784 16051 27029 0 1201 105958 67656 194513 233992 415721
3 Raisen 39465 63704 86632 0 8061 86630 126478 210127 326778 511572
4 Biora 0 759 2806 0 56
5 Vidisha 238 2136 7319 0 144 23069 18627 78738 135170 325127
6 Betul 22 67 86 0 24 34715 20099 64831 61269 98933
7 H'bad 53874 72520 118770 0 13768 412263 405542 545052 731102 950528
8 Harda 11330 24530 70266 0 8134 238665 241879 314298 467133 539855
9 Indore 0 521 7108 0 184 87351 8015 72003 128350 217551
10 Jhabua 0 0 143 0 0 26815 1777 9367 13474 26130
11 Dhar 0 0 3387 0 1857 75700 22698 90671 168561 230253
12 Khargone 0 0 514 0 0 68794 12026 78161 113088 169401
13 Badwani 0 0 10 0 0 16473 3894 10147 25133 40742
14 Khandwa 12 0 99 0 0 26669 21257 57594 104552 178217
15 Burhanpur 0 0 4 0 0 18202 7397 4000 7644 7627
16 Ujjain 0 688 34349 0 2730 206768 5307 119511 179529 361380
17 Dewas 0 2768 8191 0 500 81172 21821 109036 166466 280488
18 Ratlam 0 0 4975 0 1831 83027 5005 29095 43034 107223
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Mandsour 0 0 934 0 480 28808 4854 33626 32973 90745
20 Neemuch 0 0 551 0 781 26092 5086 5052 18979 42972
21 Shajapur 0 7395 14243 0 71 57561 6886 105037 124028 248057
22 Sagar 3530 8569 4860 0 5 19469 53347 94877 110468 235440
23 Damoh 2029 2513 3063 0 34 21697 39649 60080 65530 133253
24 Panna 1005 1509 1781 0 0 828 7268 12416 19206 58346
25 Chhatarpur 17567 29499 10821 0 0 1778 53541 73003 83528 179432
26 Tikamgarh 12743 32597 12214 0 0 5441 93770 66945 65510 164710
27 Jabalpur 2583 1055 557 0 0 61942 86825 74788 139750 266974
28 Chhindwara 0 50 0 0 82 26828 13963 71721 85161 139291
29 Balaghat 0 0 0 0 0 3158 2503 1989 2740 3766
30 Mandla 337 362 244 0 73 9929 11006 16952 21467 36394
31 Dindori 0 0 0 0 0 42 275 650 1110 3685
32 Seoni 120 1734 2046 0 36 58649 30021 79410 109087 195877
33 Narsingpur 4496 6805 3503 0 168 36001 42912 68803 112711 156303
34 Katni 1952 1950 1174 0 2 18231 16098 28003 44258 95532
35 Rewa 720 831 363 0 68 11366 23585 21877 25596 98206
36 Sidhi 5301 5728 1195 0 2 9207 7680 7181 8223 20629
37 Satna 24595 1186 1025 0 0 17586 45944 44592 43189 126429
38 Shahdole 1485 2461 1444 0 0 4024 7932 8830 11088 18013
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Anoop Pur 0 0 9 0 0 36 199 205 318 1919
40 Umaria 2014 2647 2064 0 315 3132 6940 7353 8601 20157
41 Gwalior 1788 8646 7294 0 9 66380 64817 61344 103458 171078
42 Datia 5089 8140 5645 0 828 42277 36977 68372 79521 160628
43 Shivpuri 534 10297 3496 0 454 18171 55104 78005 86772 194162
44 Guna 0 2219 7835 0 4108 27961 52587 54593 83523 159213
45 Ashoknagar 0 0 1416 0 0 13190 24419 36519 56453 116359
46 Bhind 387 1037 174 0 8 28268 24001 32273 48106 81454
47 Murena 0 464 0 0 0 41981 47493 74553 86117 133784
48 Sheopurkala 19 16668 12119 0 7895 88924 58910 87248 147196 214234
49 Alirajpur 0 808 1079 3383 3428
50 Rajgarh 25130 17707 70392 103021 217432
51 Singroli 0 7251 10349 11528 17442
Grand Total 7817 47471 37979 0 13302 352282 390074 574727 809078 1469214
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Co-
Mandi operative
1 Bhopal 5300 25000 45740 27000 0 41537 1700 8310 154587
2 Hoshangabad 130421 80000 0 11000 48000 657747 11500 12260 950928
3 Harda 65570 0 0 3000 0 188620 4200 3900 265290
4 Sehore 27000 0 0 9600 48490 130594 6400 14360 236444
5 Rajgarh 17000 0 0 15000 0 130868 6000 1485 170353
6 Betul 13000 10000 0 7000 0 64072 3000 12790 109862
7 Raisen 43537 0 0 17500 0 179498 5000 9950 255485
8 Vidisha 44150 10000 0 18000 0 278189 4500 16050 370889
9 Bhind 17200 0 26000 11900 0 37880 2200 15450 110630
10 Datia 27600 7500 0 7000 0 31057 500 5355 79012
11 Guna 51440 0 0 14000 0 82247 7600 9300 164587
12 Ashoknagar 26000 11920 0 6000 0 75307 3000 0 122227
13 Gwalior 37300 12500 19750 14050 0 214406 3400 7990 309396
14 Murena 15400 0 64250 11000 30200 207824 6400 8200 343274
15 Sheopur 9200 11280 31000 5300 0 49516 4900 0 111196
16 Shivpuri 32800 0 0 8100 0 118366 3100 6450 168816
17 Balaghat 18600 44290 10000 20950 0 4798 3300 9710 111648
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
18 Chindwara 28250 0 0 11800 27052 62493 4900 19530 154025
19 Jabalpur 42350 10640 0 6875 0 196597 9100 15500 281062
20 Katni 5400 8640 25100 10000 0 93349 2000 0 144489
21 Narsinghpur 18666 0 19150 10700 0 85548 7100 20200 161364
22 Seoni 19000 8340 0 10000 0 77989 2800 7350 125479
23 Mandla 9180 0 0 17625 0 9936 2200 8090 47031
24 Dindori 4530 0 0 2000 0 0 0 0 6530
25 Dhar 31900 0 5000 12775 0 96858 13700 13070 173303
26 Indore 14310 0 77750 24000 0 283865 8500 10900 419325
27 Khandwa 3125 0 97367 17150 0 111510 7950 26115 263217
28 Barwani 10977 0 0 1000 0 15500 0 27477
29 Jhabua 20600 5000 0 3000 0 17653 5100 15030 66383
30 Alirajpur 6800 0 0 0 0 0 0 0 6800
31 Khargone 22450 0 0 8000 10944 51321 20700 33630 147045
32 Dewas 75050 0 0 13850 0 147083 8200 10620 254803
33 Burhanpur 0 0 27200 5000 0 1855 7350 0 41405
34 Ujjain 48916 15000 0 12000 38400 233371 10500 23845 382032
35 Mandsour 41400 0 0 8650 0 83132 3200 19370 155752
36 Neemuch 21846 0 0 7000 0 143270 2100 0 174216
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
37 Ratlam 43400 8980 0 19500 0 160431 22400 15300 270011
38 Rajapur 38385 0 8000 12000 0 186987 5500 15420 266292
39 Chhatarpur 28400 10000 0 10400 0 144646 2400 12850 208696
40 Panna 5000 0 0 6000 0 31333 200 4325 46858
41 Tikamgarh 22800 33140 0 15400 0 50927 2400 11200 135867
42 Sagar 47000 3780 0 18900 0 167730 10500 0 247910
43 Damoh 13600 0 0 12000 0 227594 1500 10200 264894
44 Anuppur 4000 0 0 0 0 0 500 4500
45 Satna 36986 6920 0 18280 0 22389 4500 12040 101115
46 Shahdol 12000 5640 0 21375 0 0 2000 0 41015
47 Singroli 2000 0 0 0 0 0 0 0 2000
48 Sidhi 7800 0 0 8575 4000 0 0 14830 35205
49 Rewa 14400 0 0 9575 0 12696 700 7950 45321
50 Umaria 2800 0 0 3000 0 0 0 0 5800
State 1284839 328570 456307 542830 207086 5193089 260200 468925 8741846
320162/MCB/ISA/AA/01 22 May 2013

Confidential

320162/MCB/ISA/AA/01 22 May 2013

Confidential
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Base Case
7. Tax Computation
320162/MCB/ISA/AA/01 22 May 2013


P & P Exp. 218.77 7.14%
VGF 0.00

Total 3063.52

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Revenues
Storage Charge
Variable Charge 35.64 37.74 39.97 42.33 44.83 47.48 50.29 53.26 56.41 59.74 63.27 67.01 70.96 75.16 79.60 84.30 89.28 94.55 100.14 106.06 112.32 118.96 125.98 133.43 141.31 149.66 158.50 167.86 177.78 188.28
Total Revenues 569.09 602.71 638.32 676.03 715.97 758.27 803.06 850.51 900.75 953.97 1010.33 1070.01 1133.23 1200.18 1271.08 1346.17 1425.70 1509.93 1599.13 1693.60 1793.66 1899.62 2011.85 2130.70 2256.58 2389.89 2531.08 2680.61 2838.98 3006.70
Expenditure
Power Cost 72.00 74.16 76.38 78.68 81.04 83.47 85.97 88.55 91.21 93.94 96.76 99.66 102.65 105.73 108.91 112.17 115.54 119.01 122.58 126.25 130.04 133.94 137.96 142.10 146.36 150.75 155.27 159.93 164.73 169.67
Fumigation Cost 16.20 17.01 17.86 18.75 19.69 20.68 21.71 22.80 23.93 25.13 26.39 27.71 29.09 30.55 32.07 33.68 35.36 37.13 38.99 40.94 42.98 45.13 47.39 49.76 52.25 54.86 57.60 60.48 63.51 66.68
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Depreciation 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
EBIT 165.12 187.87 212.07 237.80 265.16 248.44 279.37 312.25 347.19 384.33 377.98 419.92 464.48 511.81 562.09 615.51 672.23 732.48 796.46 864.40 936.54 1013.13 1094.44 1180.76 1272.39 1369.65 1472.88 1582.45 1698.72 1822.12
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Tax 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99


P & P Exp. 218.77

Total Dep 3054.58 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44

Total WDV 3054.58 2678.27 2350.22 2064.02 1814.13 1595.77 1404.80 1237.64 1091.21 962.84 850.21 751.30 664.38 587.93 520.64 461.36 409.11 363.01 322.31 286.35 254.56 226.44 201.53 179.47 159.92 142.57 127.17 113.50 101.34 90.54 80.93

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Current Assets
Debtors 47.42 50.23 53.19 56.34 59.66 63.19 66.92 70.88 75.06 79.50 84.19 89.17 94.44 100.01 105.92 112.18 118.81 125.83 133.26 141.13 149.47 158.30 167.65 177.56 188.05 199.16 210.92 223.38 236.58 250.56
Current Liabilities
Margin Money 8.93 9.58 10.27 11.00 11.78 9.73 10.60 11.52 12.50 13.53 11.76 12.92 14.15 15.46 16.84 18.30 19.86 21.50 23.24 25.09 27.04 29.12 31.32 33.64 36.11 38.72 41.49 44.43 47.54 50.84
Bank Finance 26.80 28.75 30.82 33.01 35.33 29.20 31.80 34.56 37.49 40.59 35.29 38.77 42.46 46.37 50.52 54.91 59.57 64.50 69.73 75.27 81.13 87.35 93.95 100.93 108.33 116.17 124.48 133.29 142.62 152.51

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 2144.46 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 62.04 62.04 55.14 48.25 41.36 34.46 27.57 20.68 13.79 6.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 62.04 60.31 53.42 46.53 39.63 32.74 25.85 18.96 12.06 5.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 62.04 58.59 51.70 44.80 37.91 31.02 24.13 17.23 10.34 3.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 62.04 56.87 49.97 43.08 36.19 29.29 22.40 15.51 8.62 1.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 1531.76 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 45.95 45.95 40.85 35.74 30.64 25.53 20.42 15.32 10.21 5.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 45.95 44.68 39.57 34.46 29.36 24.25 19.15 14.04 8.94 3.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 45.95 43.40 38.29 33.19 28.08 22.98 17.87 12.76 7.66 2.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 45.95 42.12 37.02 31.91 26.81 21.70 16.59 11.49 6.38 1.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 183.81 176.15 155.73 135.31 114.88 94.46 74.04 53.61 33.19 12.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 612.70 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 16.08 16.08 14.30 12.51 10.72 8.94 7.15 5.36 3.57 1.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 16.08 15.64 13.85 12.06 10.28 8.49 6.70 4.91 3.13 1.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 16.08 15.19 13.40 11.62 9.83 8.04 6.25 4.47 2.68 0.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 16.08 14.74 12.96 11.17 9.38 7.59 5.81 4.02 2.23 0.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 64.33 61.65 54.51 47.36 40.21 33.06 25.91 18.76 11.62 4.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Add: SLM Dep 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
Less: WDV Dep 376.32 328.05 286.20 249.89 218.36 190.97 167.16 146.43 128.37 112.64 98.91 86.92 76.45 67.29 59.27 52.25 46.10 40.70 35.96 31.79 28.13 24.90 22.06 19.56 17.35 15.40 13.67 12.15 10.80 9.61
Income/Loss -337.12 -256.00 -162.62 -73.27 12.91 51.88 133.89 214.74 294.96 375.03 400.28 453.78 508.37 564.39 622.20 682.10 744.43 809.48 877.58 949.02 1024.11 1103.18 1186.54 1274.53 1367.48 1465.75 1569.71 1679.74 1796.24 1919.65
Unabsorbed Loss -3062.82 -3399.94 -3655.94 -3818.56 -3891.83 -3878.93 -3827.04 -3693.15 -3478.41 -3183.45 -2808.42 -2408.14 -1954.36 -1445.98 -881.59 -259.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MAT 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 121.83 133.07 145.00 157.68 171.14 185.43 200.61 216.72 233.82 251.98 271.25 291.70 313.41 336.45 360.90
Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Tax Applicable 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99
Interest on LTL 167.63 160.65 142.02 123.40 104.77 86.15 67.52 48.89 30.27 11.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of LTL 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Change in CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Coverage 171.09 230.10 262.84 286.85 311.78 313.69 329.96 359.21 390.09 422.70 431.48 452.98 487.99 525.18 564.70 591.35 542.79 580.97 621.84 665.51 712.14 761.86 814.84 871.25 931.28 995.13 1063.01 1135.16 1211.82 1293.24
Debt Service 167.63 398.92 380.30 361.67 343.05 324.42 305.79 287.17 268.54 249.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSCR 1.02 0.58 0.69 0.79 0.91 0.97 1.08 1.25 1.45 1.69
Minimum DSCR 0.58
Average DSCR 1.00
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Project IRR 12.14%
Equity IRR 14.05%
Average ROCE 13.67%

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cash Inflows
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Cash Outflows
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
Changes in Net CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Tax Paid 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Net Cashflow 8.93 30.26 -166.87 -115.39 -72.63 -28.95 -16.87 26.77 74.81 124.48 175.89 426.18 456.46 491.68 529.09 568.84 595.74 547.45 585.90 627.06 671.05 718.01 768.08 821.43 878.24 938.68 1002.97 1071.32 1143.96 1221.15 1303.13
Opening Cash 0.00 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74
Closing Cash 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Liabilities
Equity 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06
Long Term Loan 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Assets
Gross Block 3054.58 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16
Net Block 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16 -708.60
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash & Bank 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87
Total Assets 3004.08 2714.36 2476.29 2281.14 2129.85 1979.37 1884.17 1837.22 1840.16 1894.75 2188.41 2524.08 2895.24 3304.11 3753.03 4229.20 4657.41 5124.45 5633.04 6186.04 6786.44 7437.37 8142.16 8904.27 9727.38 10615.37 11572.33 12602.59 13710.74 14901.62

Silo in Satna, Madhya
Pradesh
Feasibility Report
May 2013
Confidential
Silo in Satna, Madhya
Pradesh
Report_Satna.doc
22 May 2013
Feasibility Report
May 2013
Confidential
Setting up of Steel Grain Silo in Satna, Madhya Pradesh
Confidential

Planning Commission
other parties

commissioned it.
Confidential
Content
1. Introduction 1
1.1 Report content _______________________________________________________________________ 1
3.3.2 Movement of grain in the proposed Silo facility at Satna_______________________________________ 9
4.4 Connectivity ________________________________________________________________________ 11

5.3 Mandi Arrivals _______________________________________________________________________ 22
Satna
Confidential
5.4 Procurement ________________________________________________________________________ 24

6.2 Storage Gap Assessment in Satna District ________________________________________________ 32

7.1 Project Cost ________________________________________________________________________ 34
7.1.6 Contingencies _______________________________________________________________________ 39
7.2 Means of Finance ____________________________________________________________________ 40

8.1 Assumptions ________________________________________________________________________ 41
8.1.2.2 Operating Days______________________________________________________________________ 41
8.1.4.1 Power Cost _________________________________________________________________________ 44
8.1.4.2 Manpower Cost______________________________________________________________________ 44
8.1.4.4 Fumigation Cost _____________________________________________________________________ 45
8.1.4.6 Insurance Cost ______________________________________________________________________ 46
8.1.4.8 Depreciation ________________________________________________________________________ 46
8.1.4.9 Taxation ___________________________________________________________________________ 47
9.1 Change in Capex ____________________________________________________________________ 48
Satna
Confidential

9.3 Change in Opex _____________________________________________________________________ 49
F.1. Buhler _____________________________________________________________________________ 66
F.2. Scafco _____________________________________________________________________________ 74
F.3. Agrosaw ___________________________________________________________________________ 83
Tables
Table 5.3: Wheat Production in Satna (2003-04 to 2011-12) ___________________________________________ 20
Table 5.5: Mandi Arrivals in Satna (2002-03 to 2012-13) ______________________________________________ 23
Table 5.7: Procurement of Wheat in Satna (2003-04 to 2012-13) _______________________________________ 26
Table 6.4: Storage Facilities in Satna (as on 28-09-2012) _____________________________________________ 31
Satna
Confidential

Table 8.9: Tax Rates __________________________________________________________________________ 47
Figures
Figure 5.3: Wheat Production in Satna (2002-03 to 2012-13*) __________________________________________ 21
Figure 5.5: Mandi Arrivals of Wheat in Satna (2002-03 to 2012-13) ______________________________________ 24
Figure 5.7: Wheat Procurement in Satna (2003-04 to 2012-13) _________________________________________ 27
Satna
Confidential
Satna
Confidential
Satna
Confidential
Executive Summary
capacity of 50,000 MT has been considered at the proposed site in Satna. This facility would have 4 bins,
Mohari village having an area of about 7 acres (following map). The proposed site is about 15 KM from the
nearest rail head. The Pradhan Mantri Gram Sadak Yojna (PMGSY) is connecting rail head to the site
(which is 2 kms from the site – single lane pakka road is available) giving the site an advantage in rail
connectivity. The procurement centres are within the range of 20 kms of the site and have a total
procurement capacity of about 23,800 MT of wheat.
Proposed Site, Village: Mohari
years in Madhya Pradesh. The same trend is noted in the Satna district as well.
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Contingency 135.04
Margin Money 8.93
tabulated as:

Equity 919.06 30.00%
vii 320162/MCB/ISA/AA/01 22 May 2013

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i
Confidential
Revenue Assumptions
Revenues (2013)
Equity IRR 14.05% -

Base
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
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Base
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis
Project IRR 12.14% 11.53% 10.86% 10.49% 9.69% 9.23%
Equity IRR 14.05% 13.22% 12.31% 11.80% 10.68% 10.03%
DSCR 1.00 1.00 1.00 1.00 1.00 1.00
Payback Period 9.96 9.96 9.96 9.96 9.96 9.96
life.

0% 10% 20% 25% 30% 35% 40%
100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
after 10 years
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
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20%.
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Confidential
1. Introduction


This is the Feasibility Report of the Silo Project for Satna for the
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Confidential


heads:



320162/MCB/ISA/AA/01 22 May 2013

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years.
! "
! "
facility at Satna would be 50,000 MT. It is proposed that the facility will

# " $ %

process
• Land allotment




monitored Silos.

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320162/MCB/ISA/AA/01 22 May 2013

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! & '


18 months.



! (

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also available.

!! " ( "



Source: MM Research
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equipment.
!! % % "

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Depot Bagging
Debagging

Storage
Despatch – Chain
Conveyor, Bucket
Dispatch


storage point
godowns for storage
for issue to PDS
Source: MM Analysis
320162/MCB/ISA/AA/01 22 May 2013

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!! ) % " "
facility.

Mechanized Receipts
Wheat - Farmers
Weighing
Storage
Dispatch – Chain
Conveyor, Bucket
Trucks for Further
Dispatch Bagging
Source: MM Analysis

as an Annexure G.
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Confidential
# *
Satna is one of locations for the proposed Silo facilities in Madhya

MT of capacity is located in the Mohari village on an area of about 7
Patwari Halka No. 38, Khasra No. 1555/1, Village Mohari, Satna,
Madhya Pradesh.

below:
Proposed Site, Village: Mohari
# ' " ' + '% , %
The proposed site land of 7 acres in Mohari village has been allotted to
MPWLC. The possession of the same has been given to MPWLC. The
documents pertaining to the land agreement/allotment are attached as
Appendix A. This land will be provided by MPWLC to the developer for
setting up the Silo in the premises.
#! -
MW. As informed by the MPWLC representative, Mr. S.R. Mishra
(Nodal Office), the electricity to the proposed site can be easily made
available from the nearest electric line passing adjacent to the site
boundary. However, the separate transformer is required at the project
site for further connectivity to the silo facility.
320162/MCB/ISA/AA/01 22 May 2013

Confidential
at the site.
##

The Nodal Officer of MPWLC at Satna, Mr. S.R. Mishra has provided
the details that the proposed site is about 15 kms from the nearest rail
head. The road connectivity of the site to the rail head is also in place
by state highway (Satna – Khajuraho) which is 1.5 kms from the site.
The 1.5 kms stretch of road from site to the state highway is pakka
road.
Also, the state highway (Satna - Khajuraho) is approximately at 1.50

kms from the location. The pakka road (single lane) connects the site to
the State Highway.

matter.

320162/MCB/ISA/AA/01 22 May 2013

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Kothi Damha
Procurement Vasudha Kulgadhi

Centres within 20 Nagod Mandi Meher Satna
kms radius of Silo Mandi
Satna Mandi Nagod
Bhawar Kardhara
Sinhpur Usrar Road
Sivrajpur Uchera
Mandi
Rail Head / SH
15 kms Pakka Road 1.50 Kms
Transportation
Source: MM Analysis

Kothi Satna Mandi Sivrajpur
Vasudha Bhawar Damha
Nagod Mandi Sinhpur Meher Satna Mandi
Dareha Uchera Mandi Nagod
Kardhara Usrar Road -
Source: MPWLC
320162/MCB/ISA/AA/01 22 May 2013

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. / "'

below:
State Farmers Field

Production

Markfed

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Source: MM Analysis


location.
. / '
. " * "


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(%) (%)
2002-03 3381 4923 1456 -
2003-04 4091 7365 1800 49.60% 23.6
2004-05 4200 7327 1745 -0.52% -3.1
2005-06 3785 6200 1638 -15.38% -6.1
2006-07 4275 7848 1836 26.58% 12.1
2007-08 4101 6737 1643 -14.16% -10.5
2008-09 4010 7280 1815 8.06% 10.5
2009-10 4471 8873 1985 21.88% 9.3
2010-11 4645 9227 1986 3.99% 0.1
2011-12 4901 12703 2592 37.67% 30.5
2012-13 5434 16104 2964 26.77% 14.3

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Confidential
18
16.1
16
14
Production (in MMT)
12.7
12
10 8.9 9.2
7.4 7.8
7.3
8 6.2 6.7 7.3
6
4
2
0
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year


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• 2009-10: 10.62%
• 2011-12: 18.69%
• 2012-13: 14.28%
crops:

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• Seed treatment
• Weed control


the soil

increase

of INR 150/quintal.

2012-13.


Pradesh:
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(In Lakh Ha)
2000-01 7.36 -
2001-02 9.40 27.72%
2002-03 7.69 -18.19%
2003-04 10.07 30.95%
2004-05 10.35 2.78%
2005-06 10.13 -2.13%
2006-07 9.37 -7.50%
2007-08 9.48 1.17%
2008-09 9.71 2.43%
2009-10 8.87 -8.65%
2010-11 9.76 10.03%
2011-12 16.34 67.42%
2012-13 20.21 23.66%

below.
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connection.
. * "
The wheat production of Satna district for the last 10 years is as

tabulated below.
Table 5.3: Wheat Production in Satna (2003-04 to 2011-12)

2002-03 0.198
2003-04 0.198
2004-05 0.174
2005-06 0.184
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2006-07 0.000
2007-08 0.089
2008-09 0.148
2009-10 0.173
2010-11 0.119
2011-12 0.202
2012-13* (proj.) 0.203
The production in the district has increase after year 2007-08 except fall
in the year of 2010-11. The following graph depicts the trend in wheat
production in Satna district over the period 2002-03 to 2012-13*.
Figure 5.3: Wheat Production in Satna (2002-03 to 2012-13*)
0.25
0.20 0.20
0.2 0.18 0.20 0.20
0.17
Production (in MMT)
0.17
0.15 0.15
0.12
0.1 0.09
0.05
0
2002-03 2003-04 2004-05 2005-06 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13*
Year

The short term (2008-09 to 2012-13) CAGR for Satna district is about
rate in the recent years.
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.! )

.! " * "

2003-04 2.456 18.10%
2004-05 3.809 55.07%
2005-06 3.136 -17.67%
2006-07 3.037 -3.13%
2007-08 4.769 57.02%
2008-09 4.990 4.62%
2009-10 4.355 -12.72%
2010-11 6.098 40.02%
2011-12 8.234 35.03%
2012-13 9.883 20.03%

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2003-04 to 2012-13.

12.00
9.88
10.00
8.23
8.00
6.10
6.00
4.77 4.99
4.36
3.81
4.00 2.46 3.14 3.04
2.00
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
.! * "
The Mandi Arrivals of Satna district for the last 10 years is as tabulated
below
Table 5.5: Mandi Arrivals in Satna (2002-03 to 2012-13)

2002-03 0.046 -
2003-04 0.063 36.99%
2004-05 0.087 37.77%
2005-06 0.048 -44.89%
2006-07 0.058 20.86%
2007-08 0.053 -8.95%
2008-09 0.077 46.05%
2009-10 0.110 42.17%
2010-11 0.105 -4.19%
2011-12 0.113 7.43%
2012-13 0.209 85.00%
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The short term CAGR (2008-09 to 2012-13) for Satna district is about
wise Mandi Arrivals for Satna district for period 2002-03 to 2012-13.
Figure 5.5: Mandi Arrivals of Wheat in Satna (2002-03 to 2012-13)
0.25
0.209
0.2
0.15
0.113
0.087 0.11
0.1 0.105
0.063 0.058 0.077
0.053
0.05
0.048
0.046
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Satna district have increased steeply over the last 3 years.

Appendix C.
.# ' %
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.# " * "


MMT)
2003-04 0.200 -44.50%
2004-05 0.349 74.34%
2005-06 0.484 38.77%
2006-07 0.000 -
2007-08 0.057 -88.12%
2008-09 2.410 4092.61%
2009-10 1.967 -18.37%
2010-11 3.538 79.83%
2011-12 4.965 40.35%
2012-13 8.508 71.35%
Source: MPSCSCL

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9
8.508
8
7
5 4.965
4
3.538
3
2.41 1.967
2
1 0.2 0.484
0.349 0.057
0
0
2006-07
2003-04
2004-05
2005-06
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
.# * "

procurement by State Agencies in Satna district for the last 10 years is
as tabulated below.
Table 5.7: Procurement of Wheat in Satna (2003-04 to 2012-13)

2002-03 0.006
2003-04 0.025
2004-05 0.001
2005-06 0.001
2006-07 0.000
2007-08 0.000
2008-09 0.018
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2009-10 0.046
2010-11 0.045
2011-12 0.043
2012-13 0.126
Source: MPSCSCL


the State agencies in the Satna district is about 63.75% which shows
depicts wheat procurement in Satna district over the period 2003-04 to
2012-13
Figure 5.7: Wheat Procurement in Satna (2003-04 to 2012-13)

0.14
0.126
0.12
0.1
0.08
0.046
0.06
0.045 0.043
0.04 0.025
0.02 0.006 0.018
0.001 0.001 0 0
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
.. "'%% / "

following table.
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State Satna District State Satna District State Satna District
2002-03 4.923 0.198 - 0.046 - 0.006
2003-04 7.365 0.198 2.456 0.063 0.200 0.025
2004-05 7.327 0.174 3.809 0.087 0.349 0.001
2005-06 6.200 0.184 3.136 0.048 0.484 0.001
2006-07 7.848 0.000 3.037 0.058 0.000 0.000
2007-08 6.737 0.089 4.769 0.053 0.057 0.000
2008-09 7.280 0.148 4.990 0.077 2.410 0.018
2009-10 8.873 0.173 4.355 0.110 1.967 0.046
2010-11 9.227 0.119 6.098 0.105 3.538 0.045
2011-12 12.703 0.202 8.234 0.113 4.965 0.043
2012-13 16.104 0.203 9.883 0.209 8.508 0.126
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These are:
Corporations


Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
MPWLC 10.47 10.97 11.29 11.47 11.61 11.66 11.86
CWC 4.52 4.52 4.56 4.56 4.56 4.56 4.56
MARKFED 5.06 5.06 5.29 5.29 5.43 5.43 5.43
FCI 3.29 3.29 3.29 3.29 3.29 3.29 3.29
MANDI BOARD 2.57 2.57 2.62 2.62 2.62 2.62 2.62
CO-OPERATIVE SO. 4.63 4.63 4.63 4.63 4.63 4.63 4.63
LVS 2.92 2.92 4.00 4.00 4.00 4.00 4.00
OILFED 2.07 2.07 2.07 2.07 2.07 2.07 2.07
M.P.AGRO 0.31 0.31 0.31 0.31 0.31 0.31 0.31
NAFED 0.15 0.15 0.15 0.15 0.15 0.15 0.15
godon scheme) 18.64 26.23 33.51 39.56 44.90 53.13 69.08
RIDF MPWLC - - - - - - -
PEG godown (Prt.) - - - - - - -
PIG (SILO) - - - - - - -
MPWLC (SILO) - - - - - - -
PACAKAGE - - - - - - -
IAP - - - - - - -
Total 54.63 62.72 71.72 77.95 83.57 91.85 108.00
capacity (%) 14.81% 14.35% 8.69% 7.21% 9.91% 17.58%
Source: MPWLC
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(in Lakh Tonnes)
of 2014-15
MPWLC 6.23 18.09
CWC 1.30 5.86
MARKFED - 5.43
FCI - 3.29
MANDI BOARD - 2.62
LVS - 4.00
OILFED - 2.07
M.P.AGRO - 0.31
NAFED - 0.15
PIG (SILO) 3.50 3.50
PACAKAGE 6.50 6.50
IAP 1.80 1.80
(Early Bird) 15.00 15.00
Total 61.18 169.18
Source: MPWLC

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tabulated below:

Agency 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Name 2014-15
MPWLC 19% 17% 16% 15% 14% 13% 11% 21% 27%
CWC 8% 7% 6% 6% 5% 5% 4% 4% 3%
MARKFED 9% 8% 7% 7% 6% 6% 5% 4% 3%
FCI 6% 5% 5% 4% 4% 4% 3% 2% 2%
MANDI
BOARD 5% 4% 4% 3% 3% 3% 2% 2% 2%
Co-Op. Soc. 8% 7% 6% 6% 6% 5% 4% 3% 3%
Private 34% 42% 47% 51% 54% 58% 64% 55% 50%
Others 10% 9% 9% 8% 8% 7% 6% 9% 11%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Source: MPWLC
Agency wise present storage facilities in the district of Satna are

tabulated below.
Table 6.4: Storage Facilities in Satna (as on 28-09-2012)

(in MT)
1 WLC 36986
2 FCI 6920
3 CWC 0
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(in MT)
4 Markfed 18280
5 Olifed 0
6 Private 22389
7 Mandi Board 4500
Total 101115
Source: MPWLC
0 " $ % "

Satna.

production in Satna is more than 100% of the wheat was traded at
mandis.



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2011-12 (actual) 202200 112828 101115 11713
2012-13 202729 202729 118894 83835
2013-14 203296 203296 152570 50726
2014-15 203864 203864 186245 17619
2015-16 204434 204434 186245 18188
2016-17 205005 205005 186245 18760
2017-18 205578 205578 186245 19333
2018-19 211745 211745 186245 25500
2019-20 218098 218098 186245 31852
2020-21 224641 224641 186245 38395
2021-22 231380 231380 186245 45135
2022-23 238321 238321 186245 52076
2023-24 245256 245256 186245 59011
2024-25 252393 252393 186245 66148
2025-26 259738 259738 186245 73493
2026-27 267296 267296 186245 81051
2027-28 275075 275075 186245 88829
2028-29 283079 283079 186245 96834
2029-30 291317 291317 186245 105072
2030-31 299794 299794 186245 113549
2031-32 308518 308518 186245 122273
2032-33 317496 317496 186245 131251
Source: MM Analysis
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Land 0.70
Contingency 135.04
Margin Money 8.93
1 * * %

table below.

Quantity
Land 7.00 0.00 0.00
Cost 0.70
1 2' /
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8400 11000 924.00
Grade - M30) Cu.m
2266 3000 67.98
1000 2500 25.00
coat Sqm
500 2000 10.00
water Sqm
1 ! )
MT each.

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imported 580.63 884.72 975.17
844.00 884.72 1103.31
Import Duty 10% 58.06 88.47 97.52
CST 2.0% 5.27 0.00 2.56
Inland Freight 3.0% 17.42 26.54 29.26
Total P & M Cost *966.95 1043.97 1287.81


Savings due
Aeration System 54066 2973630 0% 2973630 0%
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Savings due
Centrifugal Fan 30686 1687752 30% 1181426 30%
Others 4048 222662 0% 222662 0%
4 Roof Exhausters 19879 1093323 0% 1093323 0%
7 (Wheat)**
Sweep Auger 33054 1817992 30% 1272594 30%
Others 6867 377663 0% 377663 0%
4 95450 5249764 25% 3937323 25%
TPH Wheat 67100 3690484 30% 2583338 30%
Dust Silo DB1 -63.3m3 14896 819253 30% 573477 30%
E2 78962 4342883 35% 2822874 35%
Others 24142 1327818 35% 863082 35%
Total 1675840 92171222 84399633
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Savings due
CST 2.0% 526730

1 # 3 + ' % -

Other Utilities
DG sets Nos. 2 2000000 40.00
- connection cost
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Other Utilities
process flow
Utilities
1 . %


1 0

1 1 ) ) /

assumptions:
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Debtors 1 -
Stores & Spares 3 -
Bank Finance 75%

Lakhs.
1 ) 4



Lakhs) TPC)
Equity 919.06 30.00%

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5 '%

5 2 '%
concession period
5 '%

year.


Rate of Basis
Escalation
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Rate of Basis
Escalation

2011-2012 156.13
2010-2011 143.32
2009-2010 130.81
2008-2009 126.02
2007-2008 116.63
2006-2007 111.35
2005-2006 104.47
CAGR 5.91%
5 ! ' '%

Charge.


Revenues (2013)
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Revenues (2013)

Concession.


been considered.
5 # '%

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8.1.4.1 Power Cost


Load Factor 21%

table below:

Cost Total Cost
Manpower Category
Clerks 1 144000 1.44
Peons 2 72000 1.44
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Rs./quintal 2.00
weighment
Rs./quintal 3.00
bags
Source: MM Analysis

India.


Duration Unit Value
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below:

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8.1.4.9 Taxation


Tax Rates Rates
Income Tax 32.45%
MAT 20.01%
same.
5 . 4

ROCE.

Equity IRR 14.05% -
DSCR 1.00 Times
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6 7


Change in
Capex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.61% 11.16% 12.66% 13.25%
Equity IRR 14.05% 13.24% 12.57% 14.88% 15.82%
DSCR 1.00 0.94 0.89 1.06 1.12
Source: MM Analysis

in the above table.
6 '


Project IRR 12.14% 13.65% 15.14% 10.58% 9.00%
Equity IRR 14.05% 16.51% 19.15% 11.71% 9.50%
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DSCR 1.00 1.17 1.35 0.82 0.65
Source: MM Analysis

each other.


Equity IRR 14.05% 10.31%
DSCR 1.00 0.72
Source: MM Analysis

6! 7
follows:

Change in Opex 0% 5% 10% -5% -10%
Project IRR 12.14% 11.79% 11.45% 12.44% 12.78%
Equity IRR 14.05% 13.51% 12.99% 14.54% 15.10%
DSCR 1.00 0.96 0.92 1.04 1.08
Source: MM Analysis
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6# 8$4
are tabulated as:

Base Case -
(INR lakhs) 3063.52 2757.17 2450.81 2297.64 2144.46 1991.29 1838.11
Project IRR 12.14% 13.23% 14.55% 15.34% 16.21% 17.19% 18.32%
Equity IRR 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
DSCR 1.00 1.11 1.24 1.31 1.40 1.50 1.61
Source: MM Analysis

below:

Base
(INR lakhs) 3061.86 2755.68 2449.49 2296.40 2143.30 1990.21 1837.12
Project IRR 9.59% 10.53% 11.63% 12.27% 12.98% 13.78% 14.70%
Equity IRR 10.31% 11.65% 13.32% 14.34% 15.53% 16.97% 18.73%
DSCR 0.72 0.80 0.90 0.96 1.03 1.10 1.19
Source: MM Analysis
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6. - 9 4 : 8$4 3;'

0% 10% 20% 25% 30% 35% 40%

100% 14.05% 15.85% 18.23% 19.75% 21.57% 23.83% 26.68%
90% 13.22% 15.02% 17.43% 18.97% 20.80% 23.07% 25.95%
80% 12.31% 14.11% 16.52% 18.07% 19.92% 22.22% 25.14%
after 10 years
75% 11.80% 13.62% 16.03% 17.56% 19.41% 21.73% 24.70%
60% 10.03% 11.82% 14.24% 15.81% 17.71% 20.11% 23.18%
Source: MM Analysis
' : %% :
GoI.
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1.20 times.
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
1 Jabalpur 154.6 156.3 184.0 N.A. 126.6 171.5 158.6 280.5 284.9
2 Katni 86.6 75.4 70.9 N.A. 39.6 74.3 70.8 59.0 96.7
3 Balaghat 17.4 7.9 22.1 N.A. 13.2 12.3 19.5 22.9 29.8
4 Chhindwara 170.2 145.6 144.1 N.A. 223.4 175.2 425.2 388.9 748.4
5 Seoni 93.1 77.7 88.8 N.A. 93.4 90.1 90.5 102.1 127.5
6 Mandla 26.8 26.6 28.5 N.A. 25.3 26.6 23.0 16.7 17.6
7 Dindori 21.9 24.0 18.4 N.A. 14.9 19.4 19.1 16.0 33.7
8 Narsinghpur 181.7 168.9 172.6 N.A. 157.5 189.7 169.4 226.9 253.2
9 Sagar 183.7 173.1 176.4 N.A. 131.8 188.2 244.5 186.5 295.1
10 Damoh 96.6 97.8 102.1 N.A. 99.8 131.8 136.3 171.4 197.0
11 Panna 78.9 76.7 74.9 N.A. 53.2 88.3 97.1 89.1 103.7
12 Tikamgarh 250.3 174.8 79.0 N.A. 28.0 209.2 168.3 99.0 241.5
13 Chhatarpur 249.6 243.7 180.5 N.A. 60.1 195.8 203.9 169.1 199.5
14 Rewa 204.4 181.1 170.8 N.A. 99.3 165.3 158.0 111.3 215.4
15 Sidhi 76.6 67.2 64.1 N.A. 54.7 47.0 45.4 38.1 67.4
16 Singroli 0.0 0.0 0.0 N.A. 0.0 28.9 35.0 35.1 60.9
17 Satna 197.7 173.9 184.3 N.A. 88.5 147.8 173.1 119.1 202.2
18 Shahdol 16.6 16.4 17.2 N.A. 18.0 20.7 16.9 17.1 33.3
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
19 Anuppur 10.2 9.0 10.2 N.A. 8.2 9.1 8.8 7.0 17.4
20 Umaria 23.1 20.8 21.9 N.A. 18.6 22.7 20.5 19.9 28.6
21 Indore 287.2 304.9 88.7 N.A. 244.3 134.4 220.1 271.3 252.7
22 Dhar 350.7 341.4 138.1 N.A. 500.0 298.8 354.9 453.5 379.5
23 Jhabua 53.7 56.6 49.0 N.A. 77.3 33.6 44.6 51.6 63.5
24 Khargone 149.2 126.9 57.9 N.A. 181.8 98.5 224.9 276.6 340.0
25 Barwani 61.2 50.0 18.0 N.A. 51.9 62.1 49.1 83.1 114.9
26 Khandwa 88.1 73.5 88.8 N.A. 107.9 115.6 120.1 154.8 211.1
27 Burhanpur 17.5 16.7 16.5 N.A. 19.9 20.2 19.4 24.8 31.7
28 Alirajpur 0.0 0.0 0.0 N.A. 0.0 25.3 24.8 28.6 32.9
29 Ujjain 223.4 345.6 114.1 N.A. 341.1 184.3 318.6 237.8 375.0
30 Mandsaur 57.5 134.4 51.1 N.A. 131.2 126.6 156.9 122.7 229.3
31 Neemuch 49.0 74.4 63.2 N.A. 59.0 74.9 61.8 92.1 101.5
32 Ratlam 182.4 203.8 138.0 N.A. 228.9 196.4 218.3 276.8 309.4
33 Dewas 218.8 225.4 89.1 N.A. 215.0 211.0 247.9 247.5 375.0
34 Shajapur 148.3 180.2 68.2 N.A. 164.9 134.8 221.4 182.1 297.7
35 Morena 210.4 207.3 220.7 N.A. 159.8 184.8 179.8 221.8 222.7
36 Sheopur Kalan 109.4 78.7 90.9 N.A. 93.4 94.3 144.0 173.5 191.2
37 Bhind 151.0 133.3 142.2 N.A. 102.5 177.9 214.2 185.2 163.3
38 Gwalior 274.3 236.3 244.9 N.A. 111.4 229.1 189.9 254.0 346.8
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
39 Shivpuri 262.4 216.5 225.5 N.A. 110.1 224.0 250.4 298.1 247.8
40 Guna 106.0 103.2 124.9 N.A. 119.4 143.4 127.4 187.9 243.1
41 Ashoknagar 123.8 120.4 138.8 N.A. 119.9 148.0 173.0 193.0 233.2
42 Datia 180.9 139.1 148.5 N.A. 151.8 229.4 290.8 260.2 346.1
43 Bhopal 108.2 135.4 115.2 N.A. 120.1 126.7 147.1 127.5 304.2
44 Sehore 346.8 364.9 233.4 N.A. 189.0 226.9 401.1 327.2 666.8
45 Raisen 277.1 279.3 311.9 N.A. 203.9 266.9 376.5 278.4 622.0
46 Vidisha 332.9 335.2 310.8 N.A. 202.4 259.6 370.4 341.6 402.1
47 Rajgarh 102.7 102.6 45.9 N.A. 103.7 85.8 145.3 140.4 282.2
48 Hoshangabad 439.3 449.7 429.0 N.A. 698.6 607.4 700.1 854.0 1135.4
49 Harda 179.8 238.6 231.1 N.A. 153.4 168.0 181.6 560.7 639.9
50 Betul 125.2 128.8 145.1 N.A. 412.6 369.6 407.0 137.3 281.0
Non Reported 7.4 7.4 7.4 N.A. 7.4 7.4 7.4 7.4 7.4
State 7364.6 7327.4 5957.7 N.A. 6736.7 7279.6 8872.7 9227.2 12703.2
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Betul 11705 33047 17573 24948 25727 60251 29725 91862 69513 82268
2 Bhopal 23330 52900 48271 88307 86209 51215 53075 140663 178733 261643
3 Harda 132375 204832 114803 216925 260224 353681 255571 312373 453863 464200
4 Hoshangabad 344708 385572 302337 406767 479281 673887 509486 611476 847351 998493
5 Raisen 84321 177899 152421 87284 100889 135917 109270 260513 375758 512195
6 Rajgarh 37711 89686 78828 40666 130838 90279 59194 153371 208688 283189
7 Sehore 123628 222887 143336 121465 207610 215006 135712 296672 436969 506010
8 Vidisha 122584 167179 150908 119927 155679 125710 116095 240269 339373 423289
9 Alirajpur 12442 14057 12297 13577 20107 14294 18725 9694 10760 7135
10 Badwani 9086 11844 17750 20196 38373 29988 14448 17987 31118 41086
11 Burhanpur 1855 6501 2583 2817 7682 21271 9732 6329 12024 11188
12 Dhar 104407 219042 196744 153720 325773 278790 162089 199203 286591 298197
13 Indore 112082 208151 128666 44632 251835 215229 112581 170223 294535 269210
14 Jhabua 41476 48576 50107 48308 39728 56452 43338 42259 40450 43882
15 Khandwa 34820 30607 35613 50319 129600 86217 79436 90299 133707 156492
16 Khargone 35866 46224 47050 36621 83425 155965 70716 120286 174343 196079
17 Dewas 53984 153601 115988 80333 189630 214748 141619 165153 341695 334456
18 Mandsour 6786 8886 44342 17803 109211 85025 55050 123018 86674 159112
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Neemuch 27268 19787 49228 86585 145758 161547 52124 80706 124328 125768
20 Ratlam 15372 42243 54049 32494 130094 151022 44831 86886 107144 164427
21 Shajapur 55421 108925 100211 87388 167407 124488 47914 138299 156052 239204
22 Ujjain 31422 118074 98759 45592 263189 300612 66342 180354 267268 400991
23 Ashoknagar 42132 71283 52754 36039 55296 49887 75525 96073 157955 152912
24 Bhind 34845 29881 10414 27080 43932 54215 73065 60686 99864 118580
25 Datia 68588 60124 25017 35504 87779 87198 126988 150860 223675 180537
26 Guna 30946 33730 47906 51985 92878 73050 97148 116420 192514 183988
27 Gwalior 59913 103706 43118 65472 83866 96615 150230 158083 198436 160763
28 Morena 63170 58806 16922 58213 68537 73410 77496 102659 146344 154475
29 Sheopur 37378 35309 34709 54477 74462 101207 71538 85716 159288 223454
30 Shivpuri 56264 81244 56203 59209 78491 49325 149263 152919 201982 280208
31 Chhatarpur 41664 105645 107418 53470 30836 7070 177835 145627 165158 281249
32 Damoh 29471 55343 58940 67725 69246 47998 60202 97265 99459 126435
33 Panna 12497 9676 7582 5566 3882 3213 11666 16551 20589 62809
34 Sagar 93376 152353 180426 128469 128008 56100 140563 214801 287510 321752
35 Tikamgarh 89289 157514 101735 59118 50941 21156 237595 213731 244239 437649
36 Balaghat 7556 19305 6405 15909 14245 14472 6346 6275 3798 7381
37 Chhindwara 26599 38173 57271 63252 62730 78111 43700 133300 135756 126418
38 Dindori 4274 11310 10108 6972 9019 8036 9425 12283 12497 12867
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Jabalpur 73976 82071 80481 90649 119138 154398 186683 207845 291626 343276
40 Katni 49833 66539 48528 68326 59973 86510 75646 77825 88290 82344
41 Mandla 8045 11052 12832 9963 16548 19530 27957 33109 33792 45530
42 Narsingpur 42732 42512 29574 40532 38570 50178 60860 82020 111196 0
43 Seoni 33773 48691 34368 55429 67705 101939 63788 140766 170468 216564
44 Anuppur 208 383 476 393 393 492 801 783 842 2621
45 Rewa 35042 31824 41844 45459 53464 39244 74142 61620 48792 105800
46 Satna 63187 87050 47976 57982 52795 77105 109618 105022 112828 208733
47 Shahdol 10750 14849 19580 17056 18877 16674 9252 14546 12165 14500
48 Sidhi 8357 16862 33136 28885 27247 11515 32221 56377 15628 34199
49 Singrauli 0 0 0 0 0 0 0 0 2118 0
50 Umaria 9590 12971 7979 7472 12116 9369 18467 17105 20350 19781
State 2456104 3808726 3135566 3037280 4769243 4989611 4355093 6098162 8234096 9883339
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Bhopal 0 10609 12147 0 3570 43514 27309 92288 117085 241604
2 Sehore 6784 16051 27029 0 1201 105958 67656 194513 233992 415721
3 Raisen 39465 63704 86632 0 8061 86630 126478 210127 326778 511572
4 Biora 0 759 2806 0 56
5 Vidisha 238 2136 7319 0 144 23069 18627 78738 135170 325127
6 Betul 22 67 86 0 24 34715 20099 64831 61269 98933
7 H'bad 53874 72520 118770 0 13768 412263 405542 545052 731102 950528
8 Harda 11330 24530 70266 0 8134 238665 241879 314298 467133 539855
9 Indore 0 521 7108 0 184 87351 8015 72003 128350 217551
10 Jhabua 0 0 143 0 0 26815 1777 9367 13474 26130
11 Dhar 0 0 3387 0 1857 75700 22698 90671 168561 230253
12 Khargone 0 0 514 0 0 68794 12026 78161 113088 169401
13 Badwani 0 0 10 0 0 16473 3894 10147 25133 40742
14 Khandwa 12 0 99 0 0 26669 21257 57594 104552 178217
15 Burhanpur 0 0 4 0 0 18202 7397 4000 7644 7627
16 Ujjain 0 688 34349 0 2730 206768 5307 119511 179529 361380
17 Dewas 0 2768 8191 0 500 81172 21821 109036 166466 280488
18 Ratlam 0 0 4975 0 1831 83027 5005 29095 43034 107223
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Mandsour 0 0 934 0 480 28808 4854 33626 32973 90745
20 Neemuch 0 0 551 0 781 26092 5086 5052 18979 42972
21 Shajapur 0 7395 14243 0 71 57561 6886 105037 124028 248057
22 Sagar 3530 8569 4860 0 5 19469 53347 94877 110468 235440
23 Damoh 2029 2513 3063 0 34 21697 39649 60080 65530 133253
24 Panna 1005 1509 1781 0 0 828 7268 12416 19206 58346
25 Chhatarpur 17567 29499 10821 0 0 1778 53541 73003 83528 179432
26 Tikamgarh 12743 32597 12214 0 0 5441 93770 66945 65510 164710
27 Jabalpur 2583 1055 557 0 0 61942 86825 74788 139750 266974
28 Chhindwara 0 50 0 0 82 26828 13963 71721 85161 139291
29 Balaghat 0 0 0 0 0 3158 2503 1989 2740 3766
30 Mandla 337 362 244 0 73 9929 11006 16952 21467 36394
31 Dindori 0 0 0 0 0 42 275 650 1110 3685
32 Seoni 120 1734 2046 0 36 58649 30021 79410 109087 195877
33 Narsingpur 4496 6805 3503 0 168 36001 42912 68803 112711 156303
34 Katni 1952 1950 1174 0 2 18231 16098 28003 44258 95532
35 Rewa 720 831 363 0 68 11366 23585 21877 25596 98206
36 Sidhi 5301 5728 1195 0 2 9207 7680 7181 8223 20629
37 Satna 24595 1186 1025 0 0 17586 45944 44592 43189 126429
38 Shahdole 1485 2461 1444 0 0 4024 7932 8830 11088 18013
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Anoop Pur 0 0 9 0 0 36 199 205 318 1919
40 Umaria 2014 2647 2064 0 315 3132 6940 7353 8601 20157
41 Gwalior 1788 8646 7294 0 9 66380 64817 61344 103458 171078
42 Datia 5089 8140 5645 0 828 42277 36977 68372 79521 160628
43 Shivpuri 534 10297 3496 0 454 18171 55104 78005 86772 194162
44 Guna 0 2219 7835 0 4108 27961 52587 54593 83523 159213
45 Ashoknagar 0 0 1416 0 0 13190 24419 36519 56453 116359
46 Bhind 387 1037 174 0 8 28268 24001 32273 48106 81454
47 Murena 0 464 0 0 0 41981 47493 74553 86117 133784
48 Sheopurkala 19 16668 12119 0 7895 88924 58910 87248 147196 214234
49 Alirajpur 0 808 1079 3383 3428
50 Rajgarh 25130 17707 70392 103021 217432
51 Singroli 0 7251 10349 11528 17442
Grand Total 7817 47471 37979 0 13302 352282 390074 574727 809078 1469214
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Co-
Mandi operative
1 Bhopal 5300 25000 45740 27000 0 41537 1700 8310 154587
2 Hoshangabad 130421 80000 0 11000 48000 657747 11500 12260 950928
3 Harda 65570 0 0 3000 0 188620 4200 3900 265290
4 Sehore 27000 0 0 9600 48490 130594 6400 14360 236444
5 Rajgarh 17000 0 0 15000 0 130868 6000 1485 170353
6 Betul 13000 10000 0 7000 0 64072 3000 12790 109862
7 Raisen 43537 0 0 17500 0 179498 5000 9950 255485
8 Vidisha 44150 10000 0 18000 0 278189 4500 16050 370889
9 Bhind 17200 0 26000 11900 0 37880 2200 15450 110630
10 Datia 27600 7500 0 7000 0 31057 500 5355 79012
11 Guna 51440 0 0 14000 0 82247 7600 9300 164587
12 Ashoknagar 26000 11920 0 6000 0 75307 3000 0 122227
13 Gwalior 37300 12500 19750 14050 0 214406 3400 7990 309396
14 Murena 15400 0 64250 11000 30200 207824 6400 8200 343274
15 Sheopur 9200 11280 31000 5300 0 49516 4900 0 111196
16 Shivpuri 32800 0 0 8100 0 118366 3100 6450 168816
17 Balaghat 18600 44290 10000 20950 0 4798 3300 9710 111648
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
18 Chindwara 28250 0 0 11800 27052 62493 4900 19530 154025
19 Jabalpur 42350 10640 0 6875 0 196597 9100 15500 281062
20 Katni 5400 8640 25100 10000 0 93349 2000 0 144489
21 Narsinghpur 18666 0 19150 10700 0 85548 7100 20200 161364
22 Seoni 19000 8340 0 10000 0 77989 2800 7350 125479
23 Mandla 9180 0 0 17625 0 9936 2200 8090 47031
24 Dindori 4530 0 0 2000 0 0 0 0 6530
25 Dhar 31900 0 5000 12775 0 96858 13700 13070 173303
26 Indore 14310 0 77750 24000 0 283865 8500 10900 419325
27 Khandwa 3125 0 97367 17150 0 111510 7950 26115 263217
28 Barwani 10977 0 0 1000 0 15500 0 27477
29 Jhabua 20600 5000 0 3000 0 17653 5100 15030 66383
30 Alirajpur 6800 0 0 0 0 0 0 0 6800
31 Khargone 22450 0 0 8000 10944 51321 20700 33630 147045
32 Dewas 75050 0 0 13850 0 147083 8200 10620 254803
33 Burhanpur 0 0 27200 5000 0 1855 7350 0 41405
34 Ujjain 48916 15000 0 12000 38400 233371 10500 23845 382032
35 Mandsour 41400 0 0 8650 0 83132 3200 19370 155752
36 Neemuch 21846 0 0 7000 0 143270 2100 0 174216
320162/MCB/ISA/AA/01 22 May 2013

Confidential
Co-
Mandi operative
37 Ratlam 43400 8980 0 19500 0 160431 22400 15300 270011
38 Rajapur 38385 0 8000 12000 0 186987 5500 15420 266292
39 Chhatarpur 28400 10000 0 10400 0 144646 2400 12850 208696
40 Panna 5000 0 0 6000 0 31333 200 4325 46858
41 Tikamgarh 22800 33140 0 15400 0 50927 2400 11200 135867
42 Sagar 47000 3780 0 18900 0 167730 10500 0 247910
43 Damoh 13600 0 0 12000 0 227594 1500 10200 264894
44 Anuppur 4000 0 0 0 0 0 500 4500
45 Satna 36986 6920 0 18280 0 22389 4500 12040 101115
46 Shahdol 12000 5640 0 21375 0 0 2000 0 41015
47 Singroli 2000 0 0 0 0 0 0 0 2000
48 Sidhi 7800 0 0 8575 4000 0 0 14830 35205
49 Rewa 14400 0 0 9575 0 12696 700 7950 45321
50 Umaria 2800 0 0 3000 0 0 0 0 5800
State 1284839 328570 456307 542830 207086 5193089 260200 468925 8741846
320162/MCB/ISA/AA/01 22 May 2013

Confidential

320162/MCB/ISA/AA/01 22 May 2013

Confidential
320162/MCB/ISA/AA/01 22 May 2013

Confidential

Base Case
7. Tax Computation
320162/MCB/ISA/AA/01 22 May 2013


P & P Exp. 218.77 7.14%
VGF 0.00

Total 3063.52

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Revenues
Storage Charge
Variable Charge 35.64 37.74 39.97 42.33 44.83 47.48 50.29 53.26 56.41 59.74 63.27 67.01 70.96 75.16 79.60 84.30 89.28 94.55 100.14 106.06 112.32 118.96 125.98 133.43 141.31 149.66 158.50 167.86 177.78 188.28
Total Revenues 569.09 602.71 638.32 676.03 715.97 758.27 803.06 850.51 900.75 953.97 1010.33 1070.01 1133.23 1200.18 1271.08 1346.17 1425.70 1509.93 1599.13 1693.60 1793.66 1899.62 2011.85 2130.70 2256.58 2389.89 2531.08 2680.61 2838.98 3006.70
Expenditure
Power Cost 72.00 74.16 76.38 78.68 81.04 83.47 85.97 88.55 91.21 93.94 96.76 99.66 102.65 105.73 108.91 112.17 115.54 119.01 122.58 126.25 130.04 133.94 137.96 142.10 146.36 150.75 155.27 159.93 164.73 169.67
Fumigation Cost 16.20 17.01 17.86 18.75 19.69 20.68 21.71 22.80 23.93 25.13 26.39 27.71 29.09 30.55 32.07 33.68 35.36 37.13 38.99 40.94 42.98 45.13 47.39 49.76 52.25 54.86 57.60 60.48 63.51 66.68
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Depreciation 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
EBIT 165.12 187.87 212.07 237.80 265.16 248.44 279.37 312.25 347.19 384.33 377.98 419.92 464.48 511.81 562.09 615.51 672.23 732.48 796.46 864.40 936.54 1013.13 1094.44 1180.76 1272.39 1369.65 1472.88 1582.45 1698.72 1822.12
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Tax 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99


P & P Exp. 218.77

Total Dep 3054.58 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44

Total WDV 3054.58 2678.27 2350.22 2064.02 1814.13 1595.77 1404.80 1237.64 1091.21 962.84 850.21 751.30 664.38 587.93 520.64 461.36 409.11 363.01 322.31 286.35 254.56 226.44 201.53 179.47 159.92 142.57 127.17 113.50 101.34 90.54 80.93

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Current Assets
Debtors 47.42 50.23 53.19 56.34 59.66 63.19 66.92 70.88 75.06 79.50 84.19 89.17 94.44 100.01 105.92 112.18 118.81 125.83 133.26 141.13 149.47 158.30 167.65 177.56 188.05 199.16 210.92 223.38 236.58 250.56
Current Liabilities
Margin Money 8.93 9.58 10.27 11.00 11.78 9.73 10.60 11.52 12.50 13.53 11.76 12.92 14.15 15.46 16.84 18.30 19.86 21.50 23.24 25.09 27.04 29.12 31.32 33.64 36.11 38.72 41.49 44.43 47.54 50.84
Bank Finance 26.80 28.75 30.82 33.01 35.33 29.20 31.80 34.56 37.49 40.59 35.29 38.77 42.46 46.37 50.52 54.91 59.57 64.50 69.73 75.27 81.13 87.35 93.95 100.93 108.33 116.17 124.48 133.29 142.62 152.51

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 2144.46 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 2144.46 2084.89 1846.62 1608.35 1370.07 1131.80 893.53 655.25 416.98 178.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 2144.46 2025.33 1787.05 1548.78 1310.50 1072.23 833.96 595.68 357.41 119.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 2144.46 1965.76 1727.48 1489.21 1250.94 1012.66 774.39 536.12 297.84 59.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 62.04 62.04 55.14 48.25 41.36 34.46 27.57 20.68 13.79 6.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 62.04 60.31 53.42 46.53 39.63 32.74 25.85 18.96 12.06 5.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 62.04 58.59 51.70 44.80 37.91 31.02 24.13 17.23 10.34 3.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 62.04 56.87 49.97 43.08 36.19 29.29 22.40 15.51 8.62 1.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 1531.76 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 1531.76 1489.21 1319.01 1148.82 978.62 808.43 638.23 468.04 297.84 127.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 1531.76 1446.66 1276.47 1106.27 936.07 765.88 595.68 425.49 255.29 85.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 1531.76 1404.11 1233.92 1063.72 893.53 723.33 553.14 382.94 212.74 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 1531.76 1361.56 1191.37 1021.17 850.98 680.78 510.59 340.39 170.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 45.95 45.95 40.85 35.74 30.64 25.53 20.42 15.32 10.21 5.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 45.95 44.68 39.57 34.46 29.36 24.25 19.15 14.04 8.94 3.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 45.95 43.40 38.29 33.19 28.08 22.98 17.87 12.76 7.66 2.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 45.95 42.12 37.02 31.91 26.81 21.70 16.59 11.49 6.38 1.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 183.81 176.15 155.73 135.31 114.88 94.46 74.04 53.61 33.19 12.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Opening Balance
Apr - June 612.70 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment 0.00% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Apr - June 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 0.00 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Closing Balance
Apr - June 612.70 595.68 527.61 459.53 391.45 323.37 255.29 187.21 119.14 51.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 612.70 578.66 510.59 442.51 374.43 306.35 238.27 170.20 102.12 34.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 612.70 561.64 493.57 425.49 357.41 289.33 221.25 153.18 85.10 17.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 612.70 544.63 476.55 408.47 340.39 272.31 204.23 136.16 68.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest
Apr - June 16.08 16.08 14.30 12.51 10.72 8.94 7.15 5.36 3.57 1.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul - Sept 16.08 15.64 13.85 12.06 10.28 8.49 6.70 4.91 3.13 1.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct - Dec 16.08 15.19 13.40 11.62 9.83 8.04 6.25 4.47 2.68 0.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan - Mar 16.08 14.74 12.96 11.17 9.38 7.59 5.81 4.02 2.23 0.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 64.33 61.65 54.51 47.36 40.21 33.06 25.91 18.76 11.62 4.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PBT -86.25 -53.39 -1.87 51.18 105.83 117.42 175.61 235.73 297.89 362.23 373.75 415.27 459.38 506.25 556.03 608.92 665.09 724.74 788.10 855.37 926.80 1002.65 1083.17 1168.65 1259.39 1355.71 1457.94 1566.45 1681.61 1803.82
Add: SLM Dep 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44 125.44
Less: WDV Dep 376.32 328.05 286.20 249.89 218.36 190.97 167.16 146.43 128.37 112.64 98.91 86.92 76.45 67.29 59.27 52.25 46.10 40.70 35.96 31.79 28.13 24.90 22.06 19.56 17.35 15.40 13.67 12.15 10.80 9.61
Income/Loss -337.12 -256.00 -162.62 -73.27 12.91 51.88 133.89 214.74 294.96 375.03 400.28 453.78 508.37 564.39 622.20 682.10 744.43 809.48 877.58 949.02 1024.11 1103.18 1186.54 1274.53 1367.48 1465.75 1569.71 1679.74 1796.24 1919.65
Unabsorbed Loss -3062.82 -3399.94 -3655.94 -3818.56 -3891.83 -3878.93 -3827.04 -3693.15 -3478.41 -3183.45 -2808.42 -2408.14 -1954.36 -1445.98 -881.59 -259.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MAT 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 121.83 133.07 145.00 157.68 171.14 185.43 200.61 216.72 233.82 251.98 271.25 291.70 313.41 336.45 360.90
Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Tax Applicable 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Cash Inflows
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIDTA 290.56 313.31 337.50 363.24 390.60 373.88 404.81 437.69 472.63 509.77 503.42 545.36 589.91 637.25 687.53 740.95 797.67 857.92 921.90 989.84 1061.98 1138.57 1219.88 1306.20 1397.83 1495.09 1598.32 1707.89 1824.16 1947.56
Cash Outflows
Interest on LTL 248.14 237.81 210.23 182.66 155.09 127.52 99.95 72.38 44.80 17.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on WC 3.22 3.45 3.70 3.96 4.24 3.50 3.82 4.15 4.50 4.87 4.23 4.65 5.10 5.56 6.06 6.59 7.15 7.74 8.37 9.03 9.74 10.48 11.27 12.11 13.00 13.94 14.94 15.99 17.11 18.30
Changes in Net CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Tax Paid 0.00 0.00 0.00 10.24 21.17 23.49 35.13 47.16 59.60 72.47 74.78 83.09 91.91 101.29 111.25 137.15 241.53 262.64 284.73 307.91 332.27 357.93 384.97 413.52 443.68 475.56 509.29 544.99 582.79 622.83
Net Cashflow 8.93 30.26 -166.87 -115.39 -72.63 -28.95 -16.87 26.77 74.81 124.48 175.89 426.18 456.46 491.68 529.09 568.84 595.74 547.45 585.90 627.06 671.05 718.01 768.08 821.43 878.24 938.68 1002.97 1071.32 1143.96 1221.15 1303.13
Opening Cash 0.00 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74
Closing Cash 8.93 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87

Particulars 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Liabilities
Equity 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06 919.06
Long Term Loan 2144.46 1906.19 1667.92 1429.64 1191.37 953.09 714.82 476.55 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
VGF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Assets
Gross Block 3054.58 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16
Net Block 2929.14 2803.70 2678.27 2552.83 2427.39 2301.95 2176.51 2051.07 1925.63 1800.19 1674.75 1549.31 1423.87 1298.43 1172.99 1047.55 922.11 796.67 671.23 545.80 420.36 294.92 169.48 44.04 -81.40 -206.84 -332.28 -457.72 -583.16 -708.60
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash & Bank 39.19 -127.68 -243.07 -315.70 -344.64 -361.51 -334.74 -259.93 -135.45 40.44 466.61 923.07 1414.75 1943.84 2512.68 3108.43 3655.87 4241.77 4868.84 5539.89 6257.90 7025.98 7847.42 8725.66 9664.34 10667.31 11738.63 12882.60 14103.74 15406.87
Total Assets 3004.08 2714.36 2476.29 2281.14 2129.85 1979.37 1884.17 1837.22 1840.16 1894.75 2188.41 2524.08 2895.24 3304.11 3753.03 4229.20 4657.41 5124.45 5633.04 6186.04 6786.44 7437.37 8142.16 8904.27 9727.38 10615.37 11572.33 12602.59 13710.74 14901.62

Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PAT -86.25 -53.39 -1.87 40.94 84.66 93.92 140.47 188.56 238.29 289.76 298.97 332.18 367.47 404.96 444.78 471.77 423.56 462.11 503.37 547.46 594.53 644.72 698.19 755.13 815.71 880.15 948.65 1021.46 1098.82 1180.99
Interest on LTL 167.63 160.65 142.02 123.40 104.77 86.15 67.52 48.89 30.27 11.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of LTL 0.00 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 238.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Change in CA 35.74 2.60 2.75 2.92 3.09 -8.18 3.47 3.68 3.90 4.14 -7.07 4.64 4.92 5.22 5.53 5.86 6.21 6.58 6.97 7.39 7.83 8.29 8.79 9.31 9.87 10.46 11.08 11.74 12.44 13.18
Coverage 171.09 230.10 262.84 286.85 311.78 313.69 329.96 359.21 390.09 422.70 431.48 452.98 487.99 525.18 564.70 591.35 542.79 580.97 621.84 665.51 712.14 761.86 814.84 871.25 931.28 995.13 1063.01 1135.16 1211.82 1293.24
Debt Service 167.63 398.92 380.30 361.67 343.05 324.42 305.79 287.17 268.54 249.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSCR 1.02 0.58 0.69 0.79 0.91 0.97 1.08 1.25 1.45 1.69
Minimum DSCR 0.58
Average DSCR 1.00
Particulars 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Project IRR 12.14%
Equity IRR 14.05%
Average ROCE 13.67%

MADHYA PRADESH WAREHOUSING &
LOGISTICS CORPORATION
ADDENDUM NO. 3 TO THE

REQUEST FOR QUALIFICATION (RFQ)
FOR
SILO PROJECT THROUGH PPP
Government of Madhya Pradesh
22.05.2013 RFQ for Silo Project through PPP in Madhya Pradesh

Addendum No. 3 to the
Request for Qualification

FOR SILO PROJECT THROUGH PPP IN MADHYA
PRADESH
RFQ NOTICE NO. MPWLC-8807 OF 15 MARCH, 2013
1. The following are the modifications to the Request for Qualification for Silo
Project through PPP in Madhya Pradesh dated 15 March, 2013 as modified by
Addendum No 1 and 2 dated 29 April, 2013 and 8 May, 2013 respectively. The
deletions from the earlier text of the Request for Qualification are indicated as
strikethroughs and the additions are bold and underlined.
Sl. No. Clause No. Provision of the Request for Qualification

CLAUSE 5 OF The date of submission and opening of offers is as below:-
(i)
NIT S. Location Last date Date & time
No. and time of of opening of
submission offer
of offer
1. Bhopal, Dewas, 01st June 01st June
Harda, 2013 till 1500 2013 on 1600
Hoshangabad, hrs. hrs.
Indore, Raisen,
Satna, Sehore,
Ujjain and
Vidisha
2. Bhopal & Indore 01st July 01st July
2013 till 1500 2013 on 1600
hrs. hrs.
CLAUSE 1.3 Schedule of Bidding Process
(ii)
OF RFQ The Authority shall endeavour to adhere to the following
schedule:
Qualification Stage
S. Event description Date
No
1. Last date for receiving April 03, 2013
queries
2. Pre-application April 08, 2013
Conference
3. Authority response to May 07, 2013
queries latest by
4. Application Due Date
Bhopal, Dewas,
Harda, Hoshangabad,
Indore June 01, 2013
Raisen, Satna, Sehore,
Ujjain & Vidisha
Bhopal & Indore July 01, 2013
22.05.2013 RFQ for Silo Project through PPP in Madhya Pradesh 1

5. Announcement of pre- Within 15 days of

qualified Applicants Application Due Date
Bid Stage Estimated Estimated
Date for Date for
Dewas, Harda, Bhopal &
Hoshangabad, Indore
Raisen, Satna,
Sehore, Ujjain
& Vidisha
1. Sale of Bid June 24, 2013 July 24,
Documents 2013
2. Last date of receiving July 08, 2013 August 08,
queries 2013
3. Pre-Bid meeting-1 July 15, 2013 August 18,
2013
4. Authority response to July 22, 2013 August 25,
queries latest by 2013
5. Bid Due Date August 14, September
2013 15, 2013
6. Opening of Bids On Bid Due On Bid
Date Due Date
7. Letter of Award Within 30 days Within 30
(LOA) of Bid Due days of
Date Bid Due
Date
8. Validity of Bids 120 days of Bid 120 days
Due Date of Bid Due
Date
9. Signing of Concession Within 30 days Within 30
Agreement of award of days of
LOA award of
LOA


FOR


PRADESH
Project through PPP in Madhya Pradesh dated 15 March, 2013. The deletions
from the earlier text of the Request for Qualification are indicated as
strikethroughs and the additions are underlined.

GLOSSARY Government Government of Madhya Pradesh
(i)
MPWLC Madhya Pradesh Warehousing &
Logistics Corporation
Government of Government of Madhya Pradesh
(ii)
Madhya Pradesh Madhya Pradesh Warehousing & Logistics Corporation
1.
INTRODUCTION 1. INTRODUCTION
The Government of Madhya Pradesh Madhya Pradesh

(iii)
1.1.1 Warehousing & Logistics Corporation (the “Authority”)
is engaged ……….. Brief particulars of the Project are as
follows:
The Authority has adopted a two-stage process

(iv) 1.2.1
(collectively referred to as the "Bidding Process") for
selection of the bidder for award of the Project.
…………………….. Prior to making an Application, the
Applicant shall pay to the Authority a sum of Rs 10, 000
20,000 (Rupees ten twenty thousand) as the cost of the
RFQ process$. …….……. comprising Request for
Proposals (the “Request for Proposals” or “RFP”).
(v) 2.2.1 (e) (ii) For pre-qualification and award of Projects, the
following shall apply:
(a) For the first Rs. 30 cr. (Rupees thirty crore) of Net
Worth, the Applicant shall be eligible for award of
two Projects and for every additional Rs. 15 cr.
(Rupees fifteen crore) of Net Worth it shall be
eligible for award of one additional Project; and
$
To be submitted separately for each location for which the Bidder intends to submit an Application.

(b) an Applicant shall be pre-qualified for bidding

only for Projects equal to twice the maximum
number of Projects for which he is eligible for
award. ; and
(c) in the event an Applicant submits Applications for

a higher number of Projects than he is eligible to
apply for in accordance with sub-clause (a), the
Authority shall pre-qualify him only for the
number of Projects determined in accordance with
sub-clause (b). In rejecting his Application for the
Project(s) in excess of such number, the Authority
shall choose those Project(s) where the number of
pre-qualified Applicants is relatively higher and in
the event of a tie, such Project(s) shall be decided
by draw of lots. For the avoidance of doubt and by
way of illustration, if an Applicant applies for 5
(five) Projects and he is found to be eligible for
pre-qualification in 4 (four) projects, he shall be
excluded from the Project which has the highest
number of pre-qualified Applicants.
2.19.1 Prior to evaluation of Applications, ……. An Application

(vi)
shall be considered responsive only if:
(a) it is received as per format at Appendix-I.
(b)
(c)
(g)
(h) it contains an attested copy of the receipt
for payment of Rs. 10,000 20,000 (Rupees
ten twenty thousand only) to Authority
towards the cost of the RFQ document;
5.1 A Pre-Application conference of the interested parties

(vii)
shall be convened at the designated date, time and place.
………………………………………Authority’s website
(http://www.mpwarehousing.com) should submit a
Demand Draft of Rs. 10,000 20,000 (Rupees ten twenty
thousand only) towards the cost of document$, ……… to
participate on production of authority letter from the
Applicant.
$
Cost of document to be submitted for each location for which the Bidder intends to submit an Application.

CLAUSE 5 OF NIT The date of submission and opening of offers is as

(viii)
below:-
S. Location Last date and Date &
No. time of time of
submission of opening of
offer offer
1 Sehore & 7th May, 2013 7th May
Dewas till 1100 hrs 2013 at
1130 hrs
2 Vidisha, Harda 09th May 2013 09th May
& till 1100 hrs 2013 at
Hoshangabad 1130 hrs
3 Bhopal & 14th May 2013 14th May
Indore till 1100 hrs 2013 at
1130 hrs
4. Raisen, Ujjain 16th May 2013 16th May
& Satna till 1100 hrs 2013 at
1130 hrs.
1. Bhopal, 01st June 2013 01st June
Dewas, Harda, till 1500 hrs. 2013 on
Hoshangabad, 1600 hrs.
Indore, Raisen,
Satna, Sehore,
Ujjain and
Vidisha
CLAUSE 1.3 OF Schedule of Bidding Process
(ix)
RFQ The Authority shall endeavour to adhere to the following
schedule:
Qualification Stage
S.No Event description Date
1. Last date for receiving April 03, 2013
queries
2. Pre-application Conference April 08, 2013
3. Authority response to April May 16
queries latest by 07, 2013
Sehore & Dewas May 07, 2013
Vidishah, Harda & May 09, 2013
Hoshangabad May 14, 2013
Bhopal & Indore May 16, 2013
Raisen, Satna & Ujjain
Bhopal, Dewas, Harda,

Hoshangabad, Indore June 01, 2013
Ujjain & Vidisha
5. Announcement of short-list Within 15 days
of pre-qualified Applicants of Application
Due Date

Bid Stage Estimated Date

1. Sale of Bid Documents June 07, 2013
June 24, 2013
2. Last date of receiving June 21, 2013
queries July 08, 2013
3. Pre-Bid meeting-1 June 28, 2013
July 15, 2013
4. Authority response to July 04, 2013
queries latest by July 22, 2013
5. Bid Due Date July 25, 2013
August 14, 2013
6. Opening of Bids On Bid Due
Date
7. Letter of Award (LOA) Within 30 days
of Bid Due Date
8. Validity of Bids 120 days of Bid
Due Date
9. Signing of Concession Within 30 days
Agreement of award of
LOA

Minutes of the PRE-BID CONFERENCE held on April 8, 2013
(Steel Silo Project at ten locations in Madhya Pradesh)
A PRE-BID CONFERENCE for the work of Steel Silo Project at ten locations in Madhya
Pradesh was held on 08th April, 2013 at 11:00 hours in the NIC Studio, Vindhyachal Bhavan,
Bhopal. The meeting was chaired by Managing Director, M P Warehousing & Logistic
Corporation.
2/ List of the participants at is annexed at A.
3/ At the outset, the Managing Director of MPWLC extended a warm welcome to the
representatives of the prospective bidders for setting up Steel Silo project through PPP mode at
10 locations in Madhya Pradesh.
4/ The Managing Director briefed the representatives in detail about the project. He
clarified on the issue of VGF that the total VGF is 40% of the Total Project cost. The concession
period has now been revised from 20 (Twenty) years to 30 (Thirty) years. He informed the
representative about the additional support (in addition to 5% of the land for other commercial
activities) to be added to make the project viable will be the form of extra 1(one) acre
government land to be provided if the developer plans to set up an agro unit say flour mill/pasta
unit etc.
5/ The Chief Engineer, M.P. Warehousing & Logistics Corporation addressed all the pre-
bid queries received by the corporation in advance. He told that the reply to the same has also
been posted on the website of MPWLC.
6/ In addition to the queries which were already replied and posted on the website, some of
the fresh queries during pre-bid conference were raised by the interested bidders. The response
to the fresh queries is as under :-
S. Query Response
No.
1. Limit on the number of projects that can Modified. See Addendum to RFQ dt.
be awarded to a single entity 01.05.2013.
2. In case a developer gets all the project See addendum to RFQ dated 01.05.2013.
there may be a scenario that a developer
with a net worth of 30 Cr gets project
worth 300 cr. This should not happen
3. Restricting the short-listing to the top six Modified. See Addendum to RFQ dt.
would be a setback for the other serious 01.05.2013.
bidders
What will be the terminal value of the The terminal value of the entire unit shall be
project? Also in addition what will be the 0 (zero)
terminal value of the unit developed on
the additional 5 % of the land for other
commercial activities
4. Any concession provided to the Modified. See Addendum to RFQ dt.
Developer 01.05.2013.
5. What will be the FAR on 5% of the land Detail will be provided at the RFP stage.
provided for commercial activities. Land
is under which planning area?
6. Details of the government land to be Location details already provided on the
provided by the corporation website
7. Fixed/Variable rate given are for April 1, Detail will be provided at the RFP stage.
2012. What would be the rate currently
applicable
8. Kindly provide an example with detail Detail will be provided at the RFP stage.
working on the total storage charge. The
same shall be helpful in calculating the
revenue.
9. Can the government land provided be Detail will be provided at the RFP stage.
mortgaged
10. Clause 2.2.2:- provide at least one fourth Modified. See Addendum to RFQ dt.
of the threshold capacity shall be from 01.05.2013.
the eligible projects………….
The clause bars power company from
qualifying in the said project, even if all
the other qualifying criteria is met. Kindly
relax the said provision
11. Will liquid storage facility qualify for the No.
eligibility?
12. The companies into both export and Detail will be provided at the RFP stage.
import get a concessional rate on custom
duty. This give them an additional benefit
over others
13. Clarification on cost and revenue Relevant extract of the feasibility report
projection. Feasibility of the project shall be provided shortly.
14. Not all the locations are suitable for No change.
storing wheat. Paddy cannot be stored in
Silo what other commodities be stored in
a Silo
15. The concession period is for 30 years No change.
whereas the duration of support is only
for 10 (ten) year. There is a revenue risk.
16. Implication of the Special commodity Act No comment.
on the storage of food grain after 10 (ten)
year when there is no support from the
government
17. Kindly provide an example for the Please refer the relevant clauses of the
calculation of the score. The sample shall RFQ.
be beneficial for the bidder for calculation
purpose
18. Please clarify on the clause 2.2.2(A) Modified. See Addendum to RFQ dt.
wherein atleast one fourth of the 01.05.2013.
threshold Technical Capacity shall be
from the eligible project in category 1 and
/ or Category 3 specified in clause 3.2.1.
The meeting ended with a vote of thanks to the Chair.
*********
Annexure-A
List of Participants
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M.P. Warehousing & Logistics Corporation
RFQ Notice No. 8807 15th March, 2013
Request for Qualification (RFQ)

(INTERNATIONAL COMPETITIVE BIDDING)
SILO PROJECT THROUGH PPP AT TEN LOCATIONS IN MADHYA PRADESH
1. Sealed Bids are invited from eligible parties by the Managing Director,
Madhya Pradesh Warehousing & Logistics Corporation (MPWLC) for
development, operation and maintenance of Silos and storage of wheat
through Public-Private Partnership (PPP) on Design, Build, Finance, Operate
and Transfer (DBFOT) basis at ten location of Madhya Pradesh for a capacity
of 50,000 MT at each location. The locations are Sehore, Dewas, Vidisha,
Harda, Hoshangabad, Bhopal, Indore, Raisen, Ujjain and Satna.
2. The approximate cost of 50,000 MT capacity Steel Silos is Rs. 30 crore.
3. MPWLC intends to pre-qualify and shortlist bidders who will be eligible for
participation in the Bid Stage for awarding the project through open
competitive bidding process.
4. The RFQ document can be obtained upon payment of Rs. 10,000 (non-
refundable) for each location in the form of demand draft drawn in favour of
M.P. Warehousing & Logistic Corporation payable at Bhopal on all working
days between 11.00 to 16.00 Hrs. from 19th March, 2013 onwards till the time
of submission of Application specified below for each location. The document
can also be downloaded from the official website of MPWLC,
www.mpwarehousing.com. In case of downloaded documents, the applicant
shall deposit the document fee of Rs. 10,000/- in the form of demand draft at
the time of the pre-Bid conference or at the time of submission of Application.
5. The date of submission and opening of offers is as below :-
S. Location Last date and time Date and time of
No. of submission of opening of offer
offer
1. Sehore & Dewas 07th May, 2013 till 07th May, 2013 at
1100 hours 1130 hours
2. Vidisha, Harda & 09th May, 2013 till 09th May, 2013 at
Hoshangabad 1100 hours 1130 hours
th th
3. Bhopal & Indore 14 May, 2013 till 14 May, 2013 at
4. Raisen, Ujjain & Satna 16th May, 2013 till 16th May, 2013 at
6. Applicants shall submit separate Applications alongwith the cost of tender
document for each location.
7. The Bids shall be valid for 120 days from the date of opening.
8. MPWLC reserves the right to cancel/withdraw the “Request for Qualification”
without assigning any reason and shall bear no liability whatsoever
consequent upon such a decision.
9. For any further details contact on email id: dubey.jk@rediffmail.com
Managing Director

1. INTRODUCTION
1.1 Managing Director, Madhya Pradesh Warehousing & Logistics Corporation
(MPWLC) has decided to undertake development, operation and maintenance
of Silos and storage of wheat through Public-Private Partnership (PPP) on
Design, Build, Finance, Operate and Transfer (DBFOT) basis at ten locations
of Madhya Pradesh. Brief particulars of the Project are as follows:
Location Capacity in MT Indicative Project Cost (Rs. cr.)

Sehore 50,000 30
Dewas 50,000 30
Vidisha 50,000 30
Harda 50,000 30
Hoshangabad 50,000 30
Bhopal 50,000 30
Indore 50,000 30
Raisen 50,000 30
Ujjain 50,000 30
Satna 50,000 30
1.2 It is proposed to carry out the bidding process for selection of the bidder to
whom the Project for development of the silo for storage of wheat may be
awarded. The Concessionaire for development, operation and maintenance of
silos and storage of wheat shall be selected by a competitive bidding process
and will have freedom and flexibility to design and construct the silos. The
scope of work will broadly include designing and construction of integrated
Storage facility for storage of Foodgrains in Silos and the operation and
maintenance thereof.
1.3 A two-stage bidding process has been adopted for selection of the bidders for
award of the Project. The first stage, the Qualification Stage of the process
involves qualification of interested parties/ consortia who make an application
in accordance with the provisions of the RFQ. In the Qualification Stage,
Applicants would be required to furnish the information specified in the RFQ.
The Authority is likely to provide a comparatively short time span for
submission of the financial bids for the Project. The Applicants are, therefore,
advised to visit the site and familiarise themselves with the Project.
1.4 After the evaluation of Applications, the MPWLC would announce a list of
short-listed pre-qualified applicants who will be eligible for participation in the
second stage of the Bidding Process comprising Request for Proposals. At
the same time, the Authority would notify the other Applicants that they have
not been short-listed.
1.5 In the Bid Stage, the Bidders will be called upon to submit their financial offers
in respect of the Project, in accordance with the RFP and other documents to
be provided by the Authority, pursuant to the RFP collectively called the
Bidding Documents.
1.6 As part of the Bidding Documents, the Authority will provide for the Project a
draft Concession Agreement and feasibility report prepared by the Authority’s
consultants and other information pertaining/ relevant to the Project available
with it.
1.7 Bids will be invited for the Project on the basis of the lowest financial grant
required by a Bidder for implementing the Project. The concession period shall
be pre-determined, and will be indicated in the draft Concession Agreement
forming part of the Bidding Documents. The Grant amount shall constitute the
sole criteria for evaluation of Bids. The Project shall be awarded to the Bidder
seeking the lowest Grant.
1.8 To be eligible for pre-qualification and short-listing, an Applicant shall fulfill the
technical and financial conditions of eligibility as laid down in the RFQ.
1.9 Now, Managing Director, MPWLC for and on behalf of the Government of
Madhya Pradesh, invites applications from competent and reputed firms or
consortia of firms for development, operation and maintenance of Silos and
storage of wheat through Public Private Partnership.
2. QUALIFICATION
Detailed requirements are laid down in the RFQ document. However, a brief
outline is provided below.
(A) Technical Capacity: For demonstrating technical capacity and experience
the applicant shall, over the past five financial years preceding the Application
Due Date, have:
(i) paid for, or received payments for construction of Eligible Project(s);
and/ or
(ii) paid for development of Eligible Project(s) in Category 1 and/or
Category 2; and/ or
(iii) collected and appropriated revenues from Eligible Project(s) in
Category 1 and/or Category 2,
such that the sum total of the above is more than Rs. 45 crore. This
would constitute the Technical Capacity. At least one fourth of the
Threshold Technical Capacity shall be from the Eligible Projects in
Category 1 and/ or Category 3.
For the purpose of this RFQ:

(i) warehousing/storage sector would be deemed to include
warehousing/storage, whether modern or otherwise, including cold
storage, storage for food processing, grain/ paddy/ millets etc.; and
(ii) core sector would be deemed to include roads, highways and bridges,
power, telecom, ports, airports, railways, metro rail, industrial parks/
estates, logistic parks, pipelines, irrigation, water supply, sewerage and
real estate development.
For a project to qualify as an Eligible Project under Categories 1 and 2:

(a) It should have been undertaken as a PPP project on BOT, BOLT,
BOO, BOOT or other similar basis for providing its output or services to
a public sector entity or for providing non-discriminatory access to
users in pursuance of its charter, concession or contract, as the case
may be. For the avoidance of doubt, a project which constitutes a
natural monopoly such as an airport or port should normally be
included in this category even if it is not based on a long-term
agreement with a public entity;
(b) the entity claiming experience should have held, in the company owing
the Eligible Project, a minimum of 26% (twenty six per cent) equity
during the entire year for which Eligible Experience is being claimed;
(c) the capital cost of the project should be more than Rupees 6 (six)
crore; and
(d) the entity claiming experience shall, during the last 5 (five) financial
years preceding the Application Due Date, have (i) paid for
development of the project (excluding the cost of land), and/ or (ii)
collected and appropriated the revenues from users availing of non-
discriminatory access to or use of fixed project assets, such as
revenues from highways, airports, ports and railway infrastructure, but
shall not include revenues from sale or provision of goods or services
such as electricity, gas, petroleum products, telecommunications or
fare/freight revenues and other incomes of the company owning the
Project.
For a project to qualify as an Eligible Project under Categories 3 and 4,
the Applicant should have paid for execution of its construction works or
received payments from its client(s) for construction works executed, fully or
partially, during the 5 (five) financial years immediately preceding the
Application Due Date, and only the payments (gross) actually made or
received, as the case may be, during such 5 (five) financial years shall qualify
for purposes of computing the Experience Score. However, payments/receipts
of less than Rupees 6 crore (Rupees six crore) shall not be reckoned as
payments/receipts for Eligible Projects. For the avoidance of doubt,
construction works shall not include supply of goods or equipment except
when such goods or equipment form part of a turn-key construction contract/
EPC contract for the project. Further, the cost of land shall not be included
hereunder.
(B) Financial Capacity: The Applicant shall have a minimum Net Worth of
Rupees 30 crore at the close of the preceding financial year.
3. HOW TO OBTAIN BID DOCUMENTS

The RFQ document can be obtained upon payment of Rs. 10,000 (non-
The date of submission and opening of offers is as below:-
offer
3. Bhopal & Indore 14th May, 2013 till 14th May, 2013 at
Applicants shall submit separate Applications alongwith the cost of tender
4. SUBMISSION OF DOCUMENTS
Proposals should reach the MD, MPWLC in sealed packets marked “Application
for Qualification: Location ................... – Steel Silos Project” in the manner and
form as detailed in the RFQ at the address for communication not later than the
time and date specified above. The Applications shall be opened on the date
specified for each location at 1130 hours in the presence of bidders who choose
to be present.
MPWLC will not be responsible for any delay in receiving the proposals
and reserves the right to accept/reject any or all proposals without
assigning any reason thereon.
5. ADDRESS FOR COMMUNICATION

The Chief Engineer
Office Complex, Block ‘A’,
Gautam Nagar
Bhopal, Madhya Pradesh
Phone: 0755-2600524, 2600384
Email: dubey.jk@rediffmail.com
Website: http://www.mpwarehousing.com
Information Memorandum
Storage of Food Grains through Public Private Partnership
The information contained herein is tentative and indicative. The precise terms of
the scheme will be spelt out in Concession Agreement which will form part of the
bid documents at the RFP stage.
1. Preamble
1.1 This scheme for setting up modern storage facilities through Public Private
Partnership (PPP) has been formulated in pursuance of the government’s
concerns regarding creation of adequate storage facilities with the objective of
providing food security, creating buffer stocks across the state, maintaining
the quality of stored food grains and reducing wastage. Frequent upward
revisions of the minimum support price for procurement of food grains have
led to a rise in the level of procurement over the last few years. As a result,
the state is faced with the problem of managing large stocks of food grains. It
is estimated that post-harvest losses are around 10% due to lack of modern
storage facilities. This constitutes a huge national waste in terms of food as
well as public money. It is, therefore, necessary to create additional storage
capacities on a large scale and as urgently as possible.
2. Procurement of food grains

2.1 Procurement of foodgrains, paddy, rice and coarse grain is undertaken by the
Government of Madhya Pradesh and its agencies (the “GoMP”) at the
Minimum Support Price (MSP) declared by the Central Government. Actual
procurement of food grains is dependent on a number of factors like MSP,
market sentiment, production, global production and prices, stocks in Central
Pool and other factors which affect prices and participation of private trade.
GoMP stores the procured grains mainly in conventional godowns and CAP
storage.
In 2010-11 and 2011-12, production of foodgrains was 9.05 MMT and 12.70
MMT and procurement by the government was 4.97 MMT and 8.5 MMT
respectively. Due to high procurement of foodgrains and other crops during
the last few years and insufficient covered storage space to store the
procured stock, a substantial quantity of foodgrains has to be stored on open
platforms in covered area plinth (CAP) storage. The state has a total storage
requirement of 150.5 lakh MT for the agricultural produce procured by it
against which the available capacity is only 87.4 lakh MT.
3. Public Distribution System (PDS)

3.1 PDS has evolved as a major instrument of government’s policy for ensuring
supply of food grains to the public at affordable prices as well as for
enhancing food security. It is an important constituent of the strategy for
poverty eradication and is intended to serve as a safety net for the poor.
3.2 PDS is operated under the joint responsibility of the Central and State
Governments. The Central Government has taken the responsibility for
procurement, storage, transportation and bulk allocation of food grains. The
responsibility for distributing the same to the consumers rests with the State
Governments.
4. Objective of the Scheme on PPP in Modern Storage
4.1 Storage and warehouses in MP are under the control of Warehousing and
Logistics Corporation, FCI, CWC, Markfed, Oilfed, Mandi Board and Co-
operative societies. Private sector is also constructing and managing a large
number of storage facilities. Tackling the problem of storing large volumes of
foodgrains would require augmentation of modern storage facilities for
ensuring quality of the produce over a period of time. Significant investment
would be required for creation of modern storage facilities and much of it can
be mobilized through PPP.
4.2 Since storage is included / covered under Infrastructure, it is possible for Silo
projects to avail Viability Gap Funding (VGF), if so required, under GOI - VGF
Scheme as well as other incentives applicable to Infrastructure Projects. In
this regard, GoMP has decided to create 5 lakh MT of silo capacity in the
state. Standalone Silos with a capacity 25,000/ 50,000 tonnes will be
constructed, preferably with railway sidings. The Silos will be constructed
under PPP mode for which Madhya Pradesh Warehousing and Logistics
Corporation (MPWLC) will be the nodal agency.
5. Storage of food grains through Public Private Partnership

5.1 The present scheme has been formulated on the premise that the problem of
shortage of storage capacity can be significantly resolved by creating
additional storage in Madhya Pradesh which is a decentralized procurement
(DCP) state and, therefore, procures foodgrains for its own PDS consumption
rather than obtaining it from FCI. FCI is offered the excess grain after the
state has retained sufficient stocks for its own consumption.
5.2 The private entity selected through competitive bidding would be responsible
for financing, construction, operation and maintenance of Silos, scientific
management and handling of stocks and compliance with government
regulation and applicable laws. The Silos would be established with each bin
having a capacity of about 12,500 MT.
5.3 In case required, either for improving the Viability of the proposed project and
/ or for meeting the capital expenditure on silo project, a private entity would
be eligible for viability gap funding under the extant Central Government VGF
Scheme that allows grants of upto 20% of capital cost on the basis of
competitive bidding which would be paid during the construction period.
GoMP may provide an additional VGF of upto 20% of capital costs which
would be disbursed over 5 years from COD. The total VGF grant would
constitute the bidding parameter. For storage of foodgrains at the Silos, the
Concessionaire will be entitled to receive a recurring service charge which
shall be payable on adherence to performance and maintenance standards.
6. PPP - the concept

6.1 PPP is essentially an arrangement where the private sector partner
participates in the provision of services traditionally provided by the
government. It is usually characterized by an agreement between the
government and the private sector, with the latter undertaking to deliver an
agreed service on the payment of a unitary charge by the government, a user
charge by the beneficiaries of the service rendered and/or an upfront capital
grant. The arrangement normally involves a whole-life approach where the
private partner is responsible for both construction and operation. There is
also some degree of risk-sharing based on allocation of risks to the party best
suited to manage it.
6.2 The need for PPP in storage primarily arises out of the government’s concern
about lack of storage capacity in the country leading to wastage of food
grains. Moreover, the storage available in the country is, in many cases, of
poor quality leading to spoiling of food grains after they have been procured
by the procurement agencies.
7. Benefits of the PPP Approach

Some good reasons for adopting the PPP approach for scaling up capacity in
storage are as follows:
(i) The investments required may be too large compared to available
public resources, and private capital could, therefore, enable an
accelerated roll out of modern storage capacity;
(ii) functional efficiency of private entities would enable early delivery of
quality services;
(iii) risk of project completion and delivery of agreed outputs would be
transferred to the private entity;
(iv) public funds would be expended only upon delivery of agreed
outcomes; and
(v) private sector efficiency in the context of a long-term agreement is
expected to optimise on life-cycle costs and improve on quality of grain
storage.
8. Proposed framework for PPP in storage

8.1 Standards and Specifications
All modern storage would have to be set up in accordance with the specified
standards and parameters. Failure to do so shall attract significant penalties.
8.2 Location of Storage
The location of Silos will be in of Sehore, Dewas, Vidisha, Bhopal, Indore,
Ujjain, Satna, Harda, Hoshangabad and Raisen.
8.3 Infrastructure and management by private entities
The private entity shall be responsible for the development and maintenance
of modern and temperature-controlled Silos. It will be responsible for cleaning
and drying, de-bagging (if required), unloading, weighing, testing, storing, re-
bagging, loading and despatching the foodgrains in accordance with the terms
of the Concession Agreement. The Authority will arrange for delivery of
foodgrains to the private entity for storage and for taking delivery of foodgrains
from the Silos.
8.4 Viability gap funding for meeting project costs
The estimated capital cost of setting up a foodgrains silo would be about Rs.
5,000 per MT. This could vary depending upon region, location, size of
project, interest rates and other relevant considerations. To meet such higher
costs, where applicable, it is envisaged that the Central Government would
provide up to 20 per cent of the capital costs in the form of viability gap
funding, to be determined by competitive bidding, in accordance with the
extant VGF scheme. Further, GoMP would provide an additional VGF of upto
20% of capital costs, if required.
The projects will be structured on DBFOT basis. The Concession period shall
be 20 years (extendable by mutual consent for another 5 years at a time
subject to a maximum period of 10 years). For the extended concession
period, the State Government would pay storage charges on the basis of
wheat handled by the Concessionaire.
8.5 Land to be arranged by the Government
For a storage capacity of 50,000 MT, the requirement of land would be about
7 acres which would be made available by GoMP. Land would be provided on
licence basis for the concession period.
8.6 Storage charge
Each silo bin will normally have the capacity to store not more than about
12,500 MT of foodgrains. The cost of handling shall be paid by MPWLC in the
form of a recurring storage charge which shall be stated upfront at the time of
invitation of bids. The storage charge shall be divided into two parts, viz., a
Fixed Charge which shall be payable irrespective of the quantum of
foodgrains actually handled and a Variable Charge linked directly to the
quantum of foodgrains handled.
The Fixed Charge is proposed to be fixed at Rs. 5.75 per qtl. per month as on
April 1, 2012. The Fixed Charge shall stand reduced by 1% p.a. over the
concession period. The Fixed Charge will not normally be subject to any other
increase during the term of the Concession.
The Variable Charge shall be linked to the quantum of foodgrains handled
and stored. A rate of Re. 0.50 per qtl. per month, as on April 1, 2012, is
proposed be paid on a monthly basis for storage and preservation of the grain
stored in the Silos. Both the Fixed and Variable Charges shall be linked to
variation in Wholesale Price Index (WPI).
Based on the actual handling of foodgrains in the Silos, separate charges
shall be payable towards associated services such as unloading, testing,
weighing, debagging, bagging and loading of food grains. In case, the
foodgrains supplied by the Authority do not meet the storage specifications,
the Concessionaire shall be entitled to reject such foodgrains and the
Authority would transport such foodgrains from the Concessionaire’s premises
at its own cost. However, the Authority shall have the option of getting the
foodgrains cleaned/ dried at the site to ensure that the foodgrains meet the
storage specifications. Payment for each of these services shall be made at
par with the charges payable by the Ministry of Food & Public Distribution, GoI
to procuring agencies for providing similar services within the State. If no such
rate is available, the same shall be determined mutually with the assistance of
the Independent Expert, substantially in line with current market prices. No
payment shall be made if any of these services is not undertaken by the
Concessionaire.
Further, in case the Silo is declared a procurement centre / mandi, the
relevant charges/commission payable to such procurement agencies in
accordance with extant instructions of GoI shall also be payable to the
Concessionaire.
Bags will be the property of GoMP and will be stored/ returned by the private
entity as per the policy of GoMP.
8.7 Payment of storage charge during operations period
The storage charges during the operations period under this scheme shall be
payable only if the Silos conform to the relevant standards and specifications
and the foodgrains are maintained at the specified quality level.
8.8 Disbursements linked to output parameters
The disbursements under this scheme shall be linked to the provision of
specified infrastructure and delivery of Key Performance Indicators. A pre-
determined system of incentives and penalties will be specified based on the
key performance indicators. The output parameters would be developed in
accordance with the best practices and specified clearly in the Concession
Agreement.
8.9 Duration of support
The storage charges during the operations period would be payable for a
period of 10 years in accordance with the above scheme. Upon completion of
10 years, the Authority may utilise one or more bins at its discretion. For this
purpose, the Authority shall, with prior notice of at least 6 months, reserve one
or more bins for a period not less than one year and upon such reservation,
the Authority shall be liable to payment of storage charges for such bin(s) in
accordance with the provisions of this Agreement. Accordingly, the Authority
shall be liable for payment of Storage Charges for the aforesaid period of 10
years and for the bins specifically reserved thereafter. The Concessionaire
shall be free to use the unreserved bins in such manner as he deems fit.
8.10 Concession agreement between government and private entity
A concession agreement specifying the rights and obligations of both parties
shall be signed between the government and the selected private entity. This
will enable the private entity to raise funds from the financial institutions for
meeting its capital expenditure. The Concession Agreements will specify the
over-arching principles while sufficient flexibility would be provided to private
entities to manage their respective Silos in conformity with the geographical
requirements of different regions. Regular monitoring would be undertaken by
the government for enforcing the provisions of the Concession Agreement.
The key features of the concession agreement would be:
• Scheme of financial support
• Key Performance Indicators
• Incentives and penalties
• Monitoring & inspection mechanism
• Suspension/ Termination for breach of Agreement
• Maintenance standards
8.11 Use of assets by the private entity
The private entity may use upto 5% of the land for other commercial activities
related to any agro-based industry so as to enhance its revenue streams. This
will help cross-subsidise the expenditure on preservation of food grains. The
nature and extent of such use shall be regulated in accordance with the
concession agreement and local laws.
8.12 Selection criteria for applicants
8.12.1 Success of this scheme would depend on the private entities selected for this
purpose. Private sponsors for these Silos would, therefore, be selected on
the basis of a transparent and fair selection process that would ensure
selection of experienced and motivated entities. The selection would be a
two-stage selection process. In the first stage, private entities will be short-
listed based on proven track record or capacity to establish and manage the
facility and net worth. A private entity would be eligible for short-listing for a
50,000 MT silo if he has experience of having worked in the infrastructure
sector and a Net-worth of Rs. 30 crore. Some weightage would be accorded
for experience in the agricultural industry. This criterion may be lowered for
smaller Silos.
8.12.2 From amongst the short-listed bidders, the selection of the private entity will
be based on financial bids based on the lowest offer for viability gap funding
(VGF). There may be cases where the successful bidder does not require
any VGF and instead offers a service charge lower than the standard charge.
In such a situation, the bidder seeking the lowest service charge will be
selected.
8.12.3 A fair and transparent system of evaluation and scoring would be evolved and
announced before inviting applications under this scheme. The evaluation
and scoring would be carried out by the Authority. The selection criteria and
its application would be fair and transparent so that in addition to ensuring
that the best available applicants are selected, the selection process also
enhances the confidence of the civil society in this initiative.
8.13 Concession structure
A Design, Build, Finance and Operate and Transfer (DBFOT) model would be
followed for this scheme. At the end of the concession period, the Silos would
be transferred to the Authority. The concessionaire would be responsible for
financing, constructing and maintaining the physical infrastructure of the
storage and for managing it in accordance with laid down parameters and key
performance indicators.
9. Enforcement and inspections

9.1 The Concession Agreement would be enforced by regular inspections, audit
and monitoring for quality assurance. There would be stiff penalties for
violation of the agreement or for shortfalls in key performance indicators
coupled with incentives for better performance. The key performance
indicators would include relevant benchmarks for preservation of foodgrains.
9.2 Detailed arrangements would be spelt out in the concession agreement for
regular reporting of outcomes which will be closely monitored by the
government besides appropriate tests, inspections and surveys. Since
payment to the private entity will be based on output parameters, a close
monitoring thereof would be ensured. Detailed arrangements for regular
monitoring including online availability of data would be spelt out and enforced
as part of the concession framework.
Request For Qualification
for
Silos Projects through PPP

GLOSSARY
Applicant(s) As defined in Clause 1.2.1

Application As defined in the Disclaimer
Application Due Date As defined in Clause 1.1.5
Associate As defined in Clause 2.2.9
Authority As defined in Clause 1.1.1
Bids As defined in Clause 1.2.3
Bid Due Date As defined in Clause 1.2.3
Bid Security As defined in Clause 1.2.4
Bidders As defined in Clause 1.1.1
Bidding Documents As defined in Clause 1.2.3
Bidding Process As defined in Clause 1.2.1
Bid Stage As defined in Clause 1.2.1
BOT Build, Operate and Transfer
Concessionaire As defined in Clause 1.1.2
Concession Agreement As defined in Clause 1.1.2
Conflict of Interest As defined in Clause 2.2.1(c)
Consortium As defined in Clause 2.2.1(a)
DBFOT As defined in Clause 1.1.1
Eligible Experience As defined in Clause 3.2.1
Eligible Projects As defined in Clause 3.2.1
Estimated Project Cost As defined in Clause 1.1.4
Experience Score As defined in Clause 3.2.6
Financial Capacity As defined in Clause 2.2.2 (B)
Government Government of Madhya Pradesh
Grant As defined in Clause 1.2.8
Highest Bidder As defined in Clause 1.2.8
Jt. Bidding Agreement As defined in Clause 2.2.6 (g)
Lead Member As defined in Clause 2.2.6 (c)
LOA Letter of Award
Member Member of a Consortium
Net Worth As defined in Clause 2.2.4 (ii)
Premium As defined in Clause 1.2.8
Project As defined in Clause 1.1.1
Qualification As defined in Clause 1.2.1
Qualification Stage As defined in Clause 1.2.1
Re. or Rs. or INR Indian Rupee
RFP or Request for Proposals As defined in Clause 1.2.1
RFQ As defined in the Disclaimer
SPV As defined in Clause 2.2.6
Technical Capacity As defined in Clause 2.2.2 (A)
Threshold Technical Capacity As defined in Clause 2.2.2 (A)
The words and expressions beginning with capital letters and defined in this
document shall, unless repugnant to the context, have the meaning ascribed thereto
herein.
1
TABLE OF CONTENTS
Sl. No. Contents Page No.
Glossary
Disclaimer 4
1 Introduction
1.1 Background 6
1.2 Brief description of Bidding Process 7
1.3 Schedule of Bidding Process 9
2 Instructions to Applicants
2A General
2.1 Scope of Application 10
2.2 Eligibility of Applicants 10
2.3 Change in composition of the Consortium 16
2.4 Number of Applications and costs thereof 16
2.5 Site visit and verification of information 17
2.6 Acknowledgement by Applicant 17
2.7 Right to accept or reject any or all Applications/ Bids 17
2B Documents
2.8 Contents of the RFQ 18
2.9 Clarifications 19
2.10 Amendment of RFQ 19
2C Preparation and Submission of Application
2.11 Language 20
2.12 Format and signing of Application 20
2.13 Sealing and marking of Applications 20
2.14 Application Due Date 21
2.15 Late Applications 22
2.16 Modifications/ substitution/ withdrawal of Applications 22
2D Evaluation Process
2.17 Opening and Evaluation of Applications 22
2.18 Confidentiality 23
2.19 Tests of responsiveness 23
2
2E Qualification and Bidding
2.21 Short-listing and notification 25
2.22 Submission of Bids 25
2.23 Proprietary data 25
2.24 Correspondence with the Applicant 25
3 Criteria for Evaluation
3.1 Evaluation parameters 26
3.2 Technical Capacity for purposes of evaluation 26
3.3 Details of Experience 28
3.4 Financial information for purposes of evaluation 28
3.5 Short-listing of Applicants 29
4 Fraud and Corrupt Practices 30
5 Pre-Application Conference 32
6 Miscellaneous 33
Appendices
I Format for Application 34
Annex – I Details of Applicant 37
Annex – II Technical Capacity of Applicant 39
Annex – III Financial Capacity of Applicant 41
Annex – IV Details of Eligible Projects 43
Annex – V Statement of Legal Capacity 48
II Format for Power of Attorney for signing of Application 49
III Format for Power of Attorney for Lead Member of Consortium 51
IV Format for Joint Bidding Agreement for Consortium 54
V Guidelines of the Department of Disinvestment 61
VI Information Memorandum 63
VII List of Bid-Specific Clauses 69
3
DISCLAIMER
The information contained in this Request for Qualification document (the

“RFQ”) or subsequently provided to Applicant(s), whether verbally or in documentary
or any other form, by or on behalf of the Authority or any of its employees or
advisors, is provided to Applicant(s) on the terms and conditions set out in this RFQ
and such other terms and conditions subject to which such information is provided.
This RFQ is not an agreement and is neither an offer nor invitation by the
Authority to the prospective Applicants or any other person. The purpose of this RFQ
is to provide interested parties with information that may be useful to them in the
formulation of their application for qualification pursuant to this RFQ (the
“Application”). This RFQ includes statements, which reflect various assumptions
and assessments arrived at by the Authority in relation to the Project. Such
assumptions, assessments and statements do not purport to contain all the
information that each Applicant may require. This RFQ may not be appropriate for all
persons, and it is not possible for the Authority, its employees or advisors to consider
the investment objectives, financial situation and particular needs of each party who
reads or uses this RFQ. The assumptions, assessments, statements and information
contained in this RFQ may not be complete, accurate, adequate or correct. Each
Applicant should therefore, conduct its own investigations and analysis and should
check the accuracy, adequacy, correctness, reliability and completeness of the
assumptions, assessments, statements and information contained in this RFQ and
obtain independent advice from appropriate sources.
Information provided in this RFQ to the Applicant(s) is on a wide range of
matters, some of which may depend upon interpretation of law. The information
given is not intended to be an exhaustive account of statutory requirements and
should not be regarded as a complete or authoritative statement of law. The
Authority accepts no responsibility for the accuracy or otherwise for any
interpretation or opinion on law expressed herein.
The Authority, its employees and advisors make no representation or
warranty and shall have no liability to any person, including any Applicant or Bidder,
under any law, statute, rules or regulations or tort, principles of restitution or unjust
enrichment or otherwise for any loss, damages, cost or expense which may arise
from or be incurred or suffered on account of anything contained in this RFQ or
otherwise, including the accuracy, adequacy, correctness, completeness or reliability
of the RFQ and any assessment, assumption, statement or information contained
therein or deemed to form part of this RFQ or arising in any way with pre-
qualification of Applicants for participation in the Bidding Process.
The Authority also accepts no liability of any nature whether resulting from
negligence or otherwise howsoever caused arising from reliance of any Applicant
upon the statements contained in this RFQ.
The Authority may, in its absolute discretion but without being under any
obligation to do so, update, amend or supplement the information, assessment or
assumptions contained in this RFQ.
The issue of this RFQ does not imply that the Authority is bound to select and
short-list pre-qualified Applications for Bid Stage or to appoint the selected Bidder or
Concessionaire, as the case may be, for the Project and the Authority reserves the
right to reject all or any of the Applications or Bids without assigning any reasons
whatsoever.
4
The Applicant shall bear all its costs associated with or relating to the
preparation and submission of its Application including but not limited to preparation,
copying, postage, delivery fees, expenses associated with any demonstrations or
presentations which may be required by the Authority or any other costs incurred in
connection with or relating to its Application. All such costs and expenses will remain
with the Applicant and the Authority shall not be liable in any manner whatsoever for
the same or for any other costs or other expenses incurred by an Applicant in
preparation or submission of the Application, regardless of the conduct or outcome
of the Bidding Process.
5
1. INTRODUCTION
1.1 Background
1.1.1 The Government of Madhya Pradesh (the “Authority”) is engaged in the

creation of storage capacity for Foodgrains and as part of this endeavour, the
Authority has decided to undertake development, operation and maintenance
of Silos and storage of wheat therein (the “Project”) through Public-Private
Partnership (the “PPP”) on Design, Build, Finance, Operate and Transfer (the
"DBFOT") basis, and has decided to carry out the bidding process for
selection of a private entity as the bidder to whom the Project may be
awarded. A brief description of the project may be seen in the Information
Memorandum of the Project attached as Appendix VI. Brief particulars of the
Project are as follows:
Location$ Capacity in Indicative Project Cost

MT (In Rs. cr.)
Sehore 50,000 30
Dewas 50,000 30
Vidisha 50,000 30
Harda 50,000 30
Bhopal 50,000 30
Indore 50,000 30
Raisen 50,000 30
Ujjain 50,000 30
Satna 50,000 30
The Authority intends to pre-qualify and short-list suitable Applicants (the

“Bidders”) who will be eligible for participation in the Bid Stage, for awarding
the Project through an open competitive bidding process in accordance with
the procedure set out herein.
1.1.2 The selected Bidder, who is either a company incorporated under the
Companies Act, 1956 or undertakes to incorporate as such prior to execution
of the concession agreement (the “Concessionaire”) shall be responsible for
designing, engineering, financing, procurement, construction, operation and
maintenance of the Project under and in accordance with the provisions of a
long - term concession agreement (the “Concession Agreement”) to be
entered into between the Concessionaire and the Authority in the form
provided by the Authority as part of the Bidding Documents pursuant hereto.
$
RFQ Application shall be submitted for each location separately.
6
1.1.3 The scope of work will broadly include designing and construction of
integrated Storage facility for storage of Foodgrains in Silos and the operation
and maintenance thereof.
1.1.4 Indicative capital cost of the Project (the “Estimated Project Cost”) will be
revised and specified in the Bidding Documents of the Project. The
assessment of actual costs, however, will have to be made by the Bidders.
1.1.5 The Authority shall receive Applications pursuant to this RFQ in accordance
with the terms set forth herein as modified, altered, amended and clarified
from time to time by the Authority, and all Applications shall be prepared and
submitted in accordance with such terms on or before the date specified in
Clause 1.3 for submission of Applications (the “Application Due Date”).
1.2 Brief description of Bidding Process

1.2.1 The Authority has adopted a two-stage process (collectively referred to as the
"Bidding Process") for selection of the bidder for award of the Project. The
first stage (the "Qualification Stage") of the process involves qualification
(the “Qualification”) of interested parties/ consortia who make an Application
in accordance with the provisions of this RFQ (the "Applicant", which
expression shall, unless repugnant to the context, include the Members of the
Consortium). Prior to making an Application, the Applicant shall pay to the
Authority a sum of Rs 10, 000 (Rupees ten thousand) as the cost of the RFQ
process$. At the end of this stage, the Authority expects to announce a short-
list of up to 6 (six) suitable pre-qualified Applicants who shall be eligible for
participation in the second stage of the Bidding Process (the "Bid Stage")
comprising Request for Proposals (the “Request for Proposals” or “RFP”).
Government of India has issued guidelines (see Appendix-V) for
qualification of bidders seeking to acquire stakes in any public sector
enterprise through the process of disinvestment. These guidelines shall apply
mutatis mutandis to this Bidding Process. The Authority shall be entitled to
disqualify an Applicant in accordance with the aforesaid guidelines at any
stage of the Bidding Process. Applicants must satisfy themselves that they
are qualified to bid, and should give an undertaking to this effect in the form at
Appendix-I.
1.2.2 In the Qualification Stage, Applicants would be required to furnish all the
information specified in this RFQ. Only those Applicants that are pre-qualified
and short-listed by the Authority shall be invited to submit their Bids for the
Project. The Authority is likely to provide a comparatively short time span for
submission of the Bids for the Project. The Applicants are, therefore, advised
to visit the site and familiarise themselves with the Project.
1.2.3 In the Bid Stage, the Bidders will be called upon to submit their financial offers
(the "Bids") in accordance with the RFP and other documents to be provided
by the Authority (collectively the "Bidding Documents"). The Bidding
Documents for the Project will be provided to every Bidder on payment of Rs.
30,000 (Rs. thirty thousand only)$.The Bid shall be valid for a period of not
less than 120 days from the date specified in Clause 1.3 for submission of
bids (the “Bid Due Date”).
$
$
The actual amount will be indicated in the RFP.
7
1.2.4 In terms of the RFP, a Bidder will be required to deposit, along with its Bid, a
bid security of Rs. 50 (fifty) lakh (the "Bid Security"), refundable no later than
60 (sixty) days from the Bid Due Date, except in the case of the selected
Bidder whose Bid Security shall be retained till it has provided a Performance
Security under the Concession Agreement. The Bidders will have an option to
provide Bid Security in the form of a demand draft or a bank guarantee
acceptable to the Authority and in such event, the validity period of the
demand draft or bank guarantee, as the case may be, shall not be less than
180 (one hundred and eighty) days from the Bid Due Date, inclusive of a
claim period of 60 (sixty) days, and may be extended as may be mutually
agreed between the Authority and the Bidder from time to time. The Bid shall
be summarily rejected if it is not accompanied by the Bid Security.
1.2.5 Generally, the Highest Bidder shall be the selected Bidder. The remaining
Bidders shall be kept in reserve and may, in accordance with the process
specified in the RFP, be invited to match the Bid submitted by the Highest
Bidder in case such Highest Bidder withdraws or is not selected for any
reason. In the event that none of the other Bidders match the Bid of the
Highest Bidder, the Authority may, in its discretion, invite fresh Bids from the
remaining Bidders or annul the Bidding Process, as the case may be.
1.2.6 During the Bid Stage, Bidders are invited to examine the Project in greater
detail, and to carry out, at their cost, such studies as may be required for
submitting their respective Bids for award of the concession including
implementation of the Project.
1.2.7 As part of the Bidding Documents, the Authority will provide a draft
Concession Agreement and feasibility report prepared by the Authority’s
with it.
1.2.8 Bids will be invited for the Project on the basis of the lowest financial grant
(the "Grant") required by a Bidder for implementing the Project. A Bidder may,
instead of seeking a Grant, offer to pay a premium in the form of revenue
share and/ or upfront payment, as the case may be, (the "Premium") to the
Authority for award of the concession. The concession period shall be pre-
determined, and will be indicated in the draft Concession Agreement forming
part of the Bidding Documents. The Grant/ Premium amount shall constitute
the sole criteria for evaluation of Bids. The Project shall be awarded to the
Bidder quoting the highest Premium, and in the event that no Bidder offers a
Premium, then to the Bidder seeking the lowest Grant.
In this RFQ, the term “Highest Bidder” shall mean the Bidder who is
offering the highest Premium, and where no Bidder is offering a Premium, the
Bidder seeking the lowest Grant shall be the Highest Bidder.
1.2.9 The Concessionaire shall be entitled to receive pre-determined charges from
the Authority for service rendered to it by way of handling and storage of
Foodgrains.
1.2.10 Other details of the process to be followed at the Bid Stage and the terms
thereof will be spelt out in the Bidding Documents.
1.2.11 Any queries or request for additional information concerning this RFQ shall be
submitted in writing or by fax and e-mail to the officer designated in Clause
8
2.13.3 below. The envelopes/ communications shall clearly bear the following
identification/ title:
"Queries/ Request for Additional Information: RFQ for ............ Silos Project”.
1.3 Schedule of Bidding Process
The Authority shall endeavour to adhere to the following schedule:
Event Description Date

Qualification Stage
1. Last date for receiving queries April 03, 2013
2. Pre-Application Conference April 08, 2013
3. Authority response to queries latest April 16, 2013
by
Vidishah, Harda & Hoshangabad May 09, 2013
Raisen, Satna & Ujjain May 16, 2013
5. Announcement of short-list Within 15 days of
Application Due Date

2. Last date for receiving queries June 21, 2013
3. Pre-Bid meeting - 1 June 28, 2013
4. Authority response to queries latest July 04, 2013
by
6. Opening of Bids On Bid Due Date
7. Letter of Award (LOA) Within 30 days of Bid Due
Date
8. Validity of Bids 120 days of Bid Due Date
9. Signing of Concession Agreement Within 30 days of award
of LOA
9
2. INSTRUCTIONS TO APPLICANTS
A. GENERAL
2.1 Scope of Application
2.1.1 The Authority wishes to receive Applications for Qualification in order to short-
list experienced and capable Applicants for the Bid Stage.
2.1.2 Short-listed Applicants may be subsequently invited to submit the Bids for the
Project.
2.2 Eligibility of Applicants
2.2.1 For determining the eligibility of Applicants for their pre-qualification
hereunder, the following shall apply:
(a) The Applicant for pre-qualification may be a single entity or a group of
entities (the “Consortium”), coming together to implement the Project.
However, no applicant applying individually or as a member of a Consortium,
as the case may be, can be member of another Applicant. The term Applicant
used herein would apply to both a single entity and a Consortium.
(b) An Applicant may be a natural person, private entity, or any combination of
them with a formal intent to enter into an agreement or under an existing
agreement to form a Consortium. A Consortium shall be eligible for
consideration subject to the conditions set out in Clause 2.2.6 below.
(c) An Applicant shall not have a conflict of interest (the “Conflict of Interest”)
that affects the Bidding Process. Any Applicant found to have a Conflict of
Interest shall be disqualified. An Applicant shall be deemed to have a Conflict
of Interest affecting the Bidding Process, if:
(i) the Applicant, its Member or Associate (or any constituent thereof) and
any other Applicant, its Member or any Associate thereof (or any
constituent thereof) have common controlling shareholders or other
ownership interest; provided that this disqualification shall not apply in
cases where the direct or indirect shareholding of an Applicant, its
Member or an Associate thereof (or any shareholder thereof having a
shareholding of more than 5 per cent of the paid up and subscribed
share capital of such Applicant, Member or Associate, as the case may
be) in the other Applicant, its Member or Associate is less than 5 per
cent of the subscribed and paid up equity share capital thereof;
provided further that this disqualification shall not apply to any
ownership by a bank, insurance company, pension fund or a public
financial institution referred to in section 4A of the Companies Act,
1956. For the purposes of this Clause 2.2.1(c), indirect shareholding
held through one or more intermediate persons shall be computed as
follows: (aa) where any intermediary is controlled by a person through
management control or otherwise, the entire shareholding held by such
controlled intermediary in any other person (the “Subject Person”)
shall be taken into account for computing the shareholding of such
controlling person in the Subject Person; and (bb) subject always to
sub-clause (aa) above, where a person does not exercise control over
an intermediary, which has shareholding in the Subject Person, the
10
computation of indirect shareholding of such person in the Subject
Person shall be undertaken on a proportionate basis; provided,
however, that no such shareholding shall be reckoned under this sub-
clause (bb) if the shareholding of such person in the intermediary is
less than 26% of the subscribed and paid up equity shareholding of
such intermediary; or
(ii) a constituent of such Applicant is also a constituent of another
Applicant; or
(iii) such Applicant, or any Associate thereof receives or has received any
direct or indirect subsidy, grant, concessional loan or subordinated debt
from any other Applicant, or any Associate thereof or has provided any
such subsidy, grant, concessional loan or subordinated debt to any
other Applicant, its Member or any Associate thereof; or
(iv) such Applicant has the same legal representative for purposes of this
Application as any other Applicant; or
(v) such Applicant, or any Associate thereof has a relationship with
another Applicant, or any Associate thereof, directly or through
common third party/ parties, that puts either or both of them in a
position to have access to each other’s information about, or to
influence the Application of either or each other; or
(vi) such Applicant, or any Associate thereof has participated as a
consultant to the Authority in the preparation of any documents, design
or technical specifications of the Project.
(d) An Applicant shall be liable for disqualification if any legal, financial or
technical adviser of the Authority in relation to the Project is engaged by the
Applicant, its Member or any Associate thereof, as the case may be, in any
manner for matters related to or incidental to the Project. For the avoidance of
doubt, this disqualification shall not apply where such adviser was engaged by
the Applicant, its Member or Associate in the past but its assignment expired
or was terminated 6 (six) months prior to the date of issue of this RFQ. Nor
will this disqualification apply where such adviser is engaged after a period of
3 (three) years from the date of commercial operation of the Project.
Explanation: In case an Applicant is a Consortium, then the term Applicant as
used in this Clause 2.2.1, shall include each Member of such Consortium.
2.2.2 To be eligible for pre-qualification and short-listing, an Applicant shall fulfil the
following conditions of eligibility:
(B) Technical Capacity: For demonstrating technical capacity and experience

(the “Technical Capacity”), the Applicant shall, over the past 5 (five)
financial years preceding the Application Due Date, have:
(i) paid for, or received payments for, construction of Eligible Project(s);
and/ or

Category 2 specified in Clause 3.2.1; and/ or

Category 1 and/or Category 2 specified in Clause 3.2.1,
11
such that the sum total of the above is more than Rs. 45 crore (Rupees
forty five crore) (the “Threshold Technical Capacity”).
Provided that at least one fourth of the Threshold Technical Capacity

shall be from the Eligible Projects in Category 1 and/ or Category 3
specified in Clause 3.2.1.
(B) Financial Capacity: The Applicant shall have a minimum Net Worth (the
“Financial Capacity”) of Rupees 30 crore (Rupees thirty crore) at the close
of the preceding financial year.
In case of a Consortium, the combined technical capacity and net worth of

those Members, who have and shall continue to have an equity share of at
least 26% (twenty six per cent) each in the SPV, should satisfy the above
conditions of eligibility; provided that each such Member shall, for a period of
2 (two) years from the date of commercial operation of the Project, hold equity
share capital not less than: (i) 26% (twenty six per cent) of the subscribed and
paid up equity of the SPV; and (ii) 5% (five per cent) of the Total Project Cost
specified in the Concession Agreement£.
2.2.3 O&M: The Applicant shall undertake O&M through qualified and
experienced staff of its own or it shall for a period of at least 3 (three) years
from the date of commercial operation of the Project, enter into an agreement
for entrusting its operation & maintenance (O&M) obligations to an entity
having the aforesaid experience, failing which the Concession Agreement
shall be liable to termination.
2.2.4 The Applicants shall enclose with its application, to be submitted as per the
format at Appendix-I, complete with its Annexes, the following:
(i) Certificate(s) from its statutory auditors$ or the concerned client(s)

stating the payments made/ received or works commissioned, as the
case may be, during the past 5 years in respect of the projects
specified in paragraph 2.2.2 (A) above. In case a particular job/ contract
has been jointly executed by the Applicant (as part of a consortium), it
should further support its claim for the share in work done for that
particular job/ contract by producing a certificate from its statutory
auditor or the client; and
(ii) certificate(s) from its statutory auditors specifying the net worth of the
Applicant, as at the close of the preceding financial year, and also
specifying that the methodology adopted for calculating such net worth
£
The Authority may, in its discretion, impose further obligations in the Concession Agreement, but such
obligations should provide sufficient mobility for partial divestment of equity without compromising the
interests of the Project.
$
In case duly certified audited annual financial statements containing explicitly the requisite details are
provided, a separate certification by statutory auditors would not be necessary in respect of Clause 2.2.4 (i). In
jurisdictions that do not have statutory auditors, the firm of auditors which audits the annual accounts of the
Applicant may provide the certificates required under this RFQ.
12
conforms to the provisions of this Clause 2.2.4 (ii). For the purposes of
this RFQ, net worth (the “Net Worth”) shall mean the sum of
subscribed and paid up equity and reserves from which shall be
deducted the sum of revaluation reserves, miscellaneous expenditure
not written off and reserves not available for distribution to equity share
holders.
2.2.5 The Applicant should submit a Power of Attorney as per the format at
Appendix-II, authorising the signatory of the Application to commit the
Applicant. In the case of a Consortium, the Members should submit a Power
of Attorney in favour of the Lead Member as per format at Appendix-III.
2.2.6 Where the Applicant is a single entity, it may be required to form an

appropriate Special Purpose Vehicle, incorporated under the Indian
Companies Act, 1956 (the “SPV”), to execute the Concession Agreement and
implement the Project. In case the Applicant is a Consortium, it shall, in
addition to forming an SPV, comply with the following additional requirements:
(a) Number of members in a consortium shall not exceed 6 (six), but
information sought in the Application may be restricted to 4 (four)
members in the order of their equity contribution;
(b) subject to the provisions of sub-clause (a) above, the Application
should contain the information required for each member of the
Consortium;
(c) members of the Consortium shall nominate one member as the lead
member (the “Lead Member”), who shall have an equity share holding
of at least 26% (twenty six per cent) of the paid up and subscribed
equity of the SPV. The nomination(s) shall be supported by a Power of
Attorney, as per the format at Appendix-III, signed by all the other
members of the Consortium;
(d) the Application should include a brief description of the roles and
responsibilities of individual members, particularly with reference to
financial, technical and O&M obligations;
(e) an individual Applicant cannot at the same time be member of a
Consortium applying for pre-qualification. Further, a member of a
particular Applicant Consortium cannot be member of any other
Applicant Consortium applying for pre-qualification;
(f) the members of a Consortium shall form an appropriate SPV to
execute the Project, if awarded to the Consortium;
(g) members of the Consortium shall enter into a binding Joint Bidding
Agreement, substantially in the form specified at Appendix-IV (the “Jt.
Bidding Agreement”), for the purpose of making the Application and
submitting a Bid in the event of being short-listed. The Jt. Bidding
Agreement, to be submitted along with the Application, shall, inter alia:
(i) convey the intent to form an SPV with shareholding/ ownership
equity commitment(s) in accordance with this RFQ, which would
enter into the Concession Agreement and subsequently perform
all the obligations of the Concessionaire in terms of the
Concession Agreement, in case the concession to undertake the
Project is awarded to the Consortium;
13
(ii) clearly outline the proposed roles and responsibilities, if any, of
each member;
(iii) commit the minimum equity stake to be held by each member;
(iv) commit that each of the members, whose experience will be
evaluated for the purposes of this RFQ, shall subscribe to 26%
(twenty six per cent) or more of the paid up and subscribed
equity of the SPV and shall further commit that each such
member shall, for a period of 2 (two) years from the date of
commercial operation of the Project, hold equity share capital
not less than: (i) 26% (twenty six per cent) of the subscribed and
paid up equity share capital of the SPV; and (ii) 5% (five per
cent) of the Total Project Cost specified in the Concession
Agreement;
(v) members of the Consortium undertake that they shall
collectively hold at least 51% (fifty one per cent) of the
subscribed and paid up equity of the SPV at all times until the
second anniversary of the commercial operation date of the
Project; and
(vi) include a statement to the effect that all members of the
Consortium shall be liable jointly and severally for all obligations
of the Concessionaire in relation to the Project until the Financial
Close of the Project is achieved in accordance with the
Concession Agreement; and
(h) except as provided under this RFQ and the Bidding Documents, there
shall not be any amendment to the Jt. Bidding Agreement without the
prior written consent of the Authority.
2.2.7 Any entity which has been barred by the Central/ State Government, or any
entity controlled by it, from participating in any project (BOT or otherwise), and
the bar subsists as on the date of Application, would not be eligible to submit
an Application, either individually or as member of a Consortium.
2.2.8 An Applicant including any Consortium Member or Associate should, in the
last 3 (three) years, have neither failed to perform on any contract, as
evidenced by imposition of a penalty by an arbitral or judicial authority or a
judicial pronouncement or arbitration award against the Applicant, Consortium
Member or Associate, as the case may be, nor has been expelled from any
project or contract by any public entity nor have had any contract terminated
any public entity for breach by such Applicant, Consortium Member or
Associate .
2.2.9 In computing the Technical Capacity and Net Worth of the Applicant/
Consortium Members under Clauses 2.2.2, 2.2.4 and 3.2, the Technical
Capacity and Net Worth of their respective Associates would also be eligible
hereunder.
For purposes of this RFQ, Associate means, in relation to the Applicant/
Consortium Member, a person who controls, is controlled by, or is under the
common control with such Applicant/ Consortium Member (the “Associate”).
As used in this definition, the expression “control” means, with respect to a
person which is a company or corporation, the ownership, directly or
indirectly, of more than 50% (fifty per cent) of the voting shares of such
person, and with respect to a person which is not a company or corporation,
14
the power to direct the management and policies of such person by operation
of law.
2.2.10 The following conditions shall be adhered to while submitting an Application:
(a) Applicants should attach clearly marked and referenced continuation
sheets in the event that the space provided in the prescribed forms in
the Annexes is insufficient. Alternatively, Applicants may format the
prescribed forms making due provision for incorporation of the
requested information;
(b) information supplied by an Applicant (or other constituent Member if
the Applicant is a Consortium) must apply to the Applicant, Member or
Associate named in the Application and not, unless specifically
requested, to other associated companies or firms. Invitation to submit
Bids will be issued only to Applicants whose identity and/ or
constitution is identical to that at pre-qualification;
(c) in responding to the pre-qualification submissions, Applicants should
demonstrate their capabilities in accordance with Clause 3.1 below;
and
(d) in case the Applicant is a Consortium, each Member should
substantially satisfy the pre-qualification requirements to the extent
specified herein.
2.2.11 While Qualification is open to persons from any country, the following
provisions shall apply:
(a) Where, on the date of the Application, not less than 15% (fifteen per
cent) of the aggregate issued, subscribed and paid up equity share
capital in an Applicant or its Member is held by persons resident
outside India or where an Applicant or its Member is controlled by
persons resident outside India; or
(b) if at any subsequent stage after the date of the Application, there is an
acquisition of not less than 15% (fifteen per cent) of the aggregate
issued, subscribed and paid up equity share capital or control, by
persons resident outside India, in or of the Applicant or its Member;
then the Qualification of such Applicant or in the event described in sub
clause (b) above, the continued Qualification of the Applicant shall be subject
to approval of the Authority from national security and public interest
perspective. The decision of the Authority in this behalf shall be final and
conclusive and binding on the Applicant.
The holding or acquisition of equity or control, as above, shall include direct or

indirect holding/ acquisition, including by transfer, of the direct or indirect legal
or beneficial ownership or control, by persons acting for themselves or in
concert and in determining such holding or acquisition, the Authority shall be
guided by the principles, precedents and definitions contained in the
Securities and Exchange Board of India (Substantial Acquisition of Shares
and Takeovers) Regulations, 1997, or any substitute thereof, as in force on
the date of such acquisition.
The Applicant shall promptly inform the Authority of any change in the
shareholding, as above, and failure to do so shall render the Applicant liable
for disqualification from the Bidding Process.
15
2.2.12 Notwithstanding anything to the contrary contained herein, in the event that
the Application Due Date falls within three months of the closing of the latest
financial year of an Applicant, it shall ignore such financial year for the
purposes of its Application and furnish all its information and certification with
reference to the 5 (five) years or 1 (one) year, as the case may be, preceding
its latest financial year. For the avoidance of doubt, financial year shall, for the
purposes of an Application hereunder, mean the accounting year followed by
the Applicant in the course of its normal business.
2.3 Change in composition of the Consortium
2.3.1 Change in the composition of a Consortium will not be permitted by the

Authority during the Qualification Stage.
2.3.2 Where the Bidder is a Consortium, change in the composition of a Consortium

may be permitted by the Authority during the Bid Stage, only where:
(a) the application for such change is made no later than 15 (fifteen) days
prior to the Bid Due Date;
(b) the Lead Member continues to be the Lead Member of the Consortium;
(c) the substitute is at least equal, in terms of Technical Capacity, to the

Consortium Member who is sought to be substituted and the modified
Consortium shall continue to meet the pre-qualification and short-listing
criteria for Applicants; and
(d) the new Member(s) expressly adopt(s) the Application already made
on behalf of the Consortium as if it were a party to it originally, and is
not an Applicant/Member/Associate of any other Consortium bidding
for this Project.
2.3.3 Approval for change in the composition of a Consortium shall be at the sole
discretion of the Authority and must be approved by the Authority in writing.
2.3.4 The modified/ reconstituted Consortium shall submit a revised Jt. Bidding
Agreement before the Bid Due Date.
2.3.5 Notwithstanding anything to the contrary contained in sub-clause (c) (i) of

Clause 2.2.1, an Applicant may, within 10 (ten) days after the Application Due
Date, remove from its Consortium any Member who suffers from a Conflict of
Interest, and such removal shall be deemed to cure the Conflict of Interest
arising in respect thereof.
2.4 Number of Applications and costs thereof
2.4.1 No Applicant shall submit more than one Application for each location. An
applicant applying individually or as a member of a Consortium shall not be
entitled to submit another application either individually or as a member of any
Consortium, as the case may be.
16
2.4.2 The Applicants shall be responsible for all of the costs associated with the
preparation of their Applications and their participation in the Bid Process. The
Authority will not be responsible or in any way liable for such costs, regardless
of the conduct or outcome of the Bidding Process.
2.5 Site visit and verification of information
Applicants are encouraged to submit their respective Applications after visiting

the Project site and ascertaining for themselves the site conditions, traffic,
location, surroundings, climate, availability of power, water and other utilities
for construction, access to site, handling and storage of materials, weather
data, applicable laws and regulations, and any other matter considered
relevant by them.
2.6 Acknowledgement by Applicant
2.6.1 It shall be deemed that by submitting the Application, the Applicant has:
(a) made a complete and careful examination of the RFQ;
(b) received all relevant information requested from the Authority;
(c) accepted the risk of inadequacy, error or mistake in the information

provided in the RFQ or furnished by or on behalf of the Authority
relating to any of the matters referred to in Clause 2.5 above; and
(d) agreed to be bound by the undertakings provided by it under and in

terms hereof.
2.6.2 The Authority shall not be liable for any omission, mistake or error in respect
of any of the above or on account of any matter or thing arising out of or
concerning or relating to the RFQ or the Bidding Process, including any error
or mistake therein or in any information or data given by the Authority.
2.7 Right to accept or reject any or all Applications/ Bids
2.7.1 Notwithstanding anything contained in this RFQ, the Authority reserves the
right to accept or reject any Application and to annul the Bidding Process and
reject all Applications/ Bids, at any time without any liability or any obligation
for such acceptance, rejection or annulment, and without assigning any
reasons therefor. In the event that the Authority rejects or annuls all the Bids,
it may, in its discretion, invite all eligible Bidders to submit fresh Bids
hereunder.
2.7.2 The Authority reserves the right to reject any Application and/ or Bid if:
(a) at any time, a material misrepresentation is made or uncovered, or
(b) the Applicant does not provide, within the time specified by the
Authority, the supplemental information sought by the Authority for
evaluation of the Application.
17
If the Applicant/Bidder is a Consortium, then the entire Consortium may be
disqualified/ rejected. If such disqualification/ rejection occurs after the Bids
have been opened and the Highest Bidder gets disqualified/ rejected, then the
Authority reserves the right to:
(i) invite the remaining Bidders to match the Highest Bidder/ submit their
Bids in accordance with the RFP; or
(ii) take any such measure as may be deemed fit in the sole discretion of
the Authority, including annulment of the Bidding Process.
2.7.3 In case it is found during the evaluation or at any time before signing of the
Concession Agreement or after its execution and during the period of
subsistence thereof, including the concession thereby granted by the
Authority, that one or more of the pre-qualification conditions have not been
met by the Applicant, or the Applicant has made material misrepresentation or
has given any materially incorrect or false information, the Applicant shall be
disqualified forthwith if not yet appointed as the Concessionaire either by
issue of the LOA or entering into of the Concession Agreement, and if the
Applicant/SPV has already been issued the LOA or has entered into the
Concession Agreement, as the case may be, the same shall, notwithstanding
anything to the contrary contained therein or in this RFQ, be liable to be
terminated, by a communication in writing by the Authority to the Applicant,
without the Authority being liable in any manner whatsoever to the Applicant
and without prejudice to any other right or remedy which the Authority may
have under this RFQ, the Bidding Documents, the Concession Agreement or
under applicable law.
2.7.4 The Authority reserves the right to verify all statements, information and
documents submitted by the Applicant in response to the RFQ. Any such
verification or lack of such verification by the Authority shall not relieve the
Applicant of its obligations or liabilities hereunder nor will it affect any rights of
the Authority thereunder.
B. DOCUMENTS
2.8 Contents of the RFQ

This RFQ comprises the disclaimer set forth hereinabove, the contents as
listed below, and will additionally include any Addenda issued in accordance
with Clause 2.10.
Invitation for Qualification
Section 1. Introduction
Section 2. Instructions to Applicants
Section 3. Criteria for Evaluation
Section 4. Fraud & Corrupt Practices
Section 5. Pre Application Conference
Section 6. Miscellaneous
18
Appendices
I. Letter comprising the Application

II. Power of Attorney for signing of Application
III. Power of Attorney for Lead Member of Consortium
IV. Joint Bidding Agreement for Consortium
V. Guidelines of the Department of Disinvestment
VI. Information Memorandum
VII. List of Bid-specific clauses
2.9 Clarifications
2.9.1 Applicants requiring any clarification on the RFQ may notify the Authority in
writing or by fax and e-mail in accordance with Clause 1.2.11. They should
send in their queries before the date specified in the schedule of Bidding
Process contained in Clause 1.3. The Authority shall endeavour to respond to
the queries within the period specified therein, but no later than 10 (ten) days
prior to the Application Due Date. The responses will be sent by fax and/or e-
mail. The Authority will forward all the queries and its responses thereto, to all
purchasers of the RFQ without identifying the source of queries.
2.9.2 The Authority shall endeavour to respond to the questions raised or

clarifications sought by the Applicants. However, the Authority reserves the
right not to respond to any question or provide any clarification, in its sole
discretion, and nothing in this Clause shall be taken or read as compelling or
requiring the Authority to respond to any question or to provide any
clarification.
2.9.3 The Authority may also on its own motion, if deemed necessary, issue
interpretations and clarifications to all Applicants. All clarifications and
interpretations issued by the Authority shall be deemed to be part of the RFQ.
Verbal clarifications and information given by Authority or its employees or
representatives shall not in any way or manner be binding on the Authority.
2.10 Amendment of RFQ
2.10.1 At any time prior to the deadline for submission of Application, the Authority
may, for any reason, whether at its own initiative or in response to
clarifications requested by an Applicant, modify the RFQ by the issuance of
Addenda.
2.10.2 Any Addendum thus issued will be sent in writing to all those who have
purchased the RFQ.
2.10.3 In order to afford the Applicants a reasonable time for taking an Addendum
into account, or for any other reason, the Authority may, in its sole discretion,
extend the Application Due Date.$
$
While extending the Application Due Date on account of an addendum, the Authority shall have due regard for
the time required by bidders to address the amendments specified therein. In the case of significant amendments,
19
C. PREPARATION AND SUBMISSION OF APPLICATION
2.11 Language
The Application and all related correspondence and documents in relation to

the Bidding Process shall be in English language. Supporting documents and
printed literature furnished by the Applicant with the Application may be in any
other language provided that they are accompanied by translations of all the
pertinent passages in the English language, duly authenticated and certified
by the Applicant. Supporting materials, which are not translated into English,
may not be considered. For the purpose of interpretation and evaluation of the
Application, the English language translation shall prevail.
2.12 Format and signing of Application
2.12.1 The Applicant shall provide all the information sought under this RFQ. The
Authority will evaluate only those Applications that are received in the required
formats and complete in all respects. Incomplete and /or conditional
Applications shall be liable to rejection.
2.12.2 The Applicant shall prepare 1 (one) original set of the Application (together
with originals/ copies of documents required to be submitted along therewith
pursuant to this RFQ) and clearly marked “ORIGINAL”. In addition, the
Applicant shall submit 1 (one) copy of the Application, alongwith documents
required to be submitted along therewith pursuant to this RFQ, marked
“COPY”. The Applicant shall also provide 2 (two) soft copies on Compact Disc
(CD). In the event of any discrepancy between the original and the copy, the
original shall prevail.
2.12.3 The Application and its copy shall be typed or written in indelible ink and
signed by the authorised signatory of the Applicant who shall also initial each
page in blue ink. In case of printed and published documents, only the cover
shall be initialled. All the alterations, omissions, additions or any other
amendments made to the Application shall be initialled by the person(s)
signing the Application. The Application shall contain page numbers and shall
be bound together in hard cover.
2.13 Sealing and Marking of Applications
2.13.1 The Applicant shall submit the Application in the format specified at Appendix-
I, together with the documents specified in Clause 2.13.2, and seal it in an
envelope and mark the envelope as “APPLICATION”. The Applicant shall seal
the original and the copy of the Application, together with their respective
enclosures, in separate envelopes duly marking the envelopes as
“ORIGINAL” and “COPY”. The envelopes shall then be sealed in an outer
envelope which shall also be marked in accordance with Clauses 2.13.2 and
2.13.3.
at least 15 (fifteen) days shall be provided between the date of amendment and the Application Due Date, and in
the case of minor amendments, at least 7 (seven) days shall be provided.
20
2.13.2 Each envelope shall contain:
(i) Application in the prescribed format (Appendix-I) along with Annexes

and supporting documents;
(ii) Power of Attorney for signing the Application as per the format at
Appendix-II;
(iii) if applicable, the Power of Attorney for Lead Member of Consortium as
per the format at Appendix-III;
(iv) copy of the Jt. Bidding Agreement, in case of a Consortium,
substantially in the format at Appendix-IV;
(v) copy of Memorandum and Articles of Association, if the Applicant is a

body corporate, and if a partnership then a copy of its partnership
deed; and
(vi) copies of Applicant’s duly audited balance sheet and profit and loss
account for the preceding five years.
Each of the envelopes shall clearly bear the following identification:
“Application for Qualification: ................... Silo Project”
and shall clearly indicate the name and address of the Applicant. In addition,
the Application Due Date should be indicated on the right hand corner of each
of the envelopes.
2.13.3 Each of the envelopes shall be addressed to:
ATTN. OF: Mr J.K. Dubey

DESIGNATION: Chief Engineer
ADDRESS: M.P. Warehousing & Logistics Corporation
Office Complex, Block ‘A’,Gautam Nagar
FAX NO: 0755-2600524, 2600384
E-MAIL ADDRESS: dubey.jk@rediffmail.com
2.13.4 If the envelopes are not sealed and marked as instructed above, the Authority
assumes no responsibility for the misplacement or premature opening of the
contents of the Application and consequent losses, if any, suffered by the
Applicant.
2.13.5 Applications submitted by fax, telex, telegram or e-mail shall not be

entertained and shall be rejected.
2.14 Application Due Date
2.14.1 Applications should be submitted before 1100 hours IST on the Application
Due Date, at the address provided in Clause 2.13.3 in the manner and form
21
as detailed in this RFQ. A receipt thereof should be obtained from the person
2.14.2 The Authority may, in its sole discretion, extend the Application Due Date by
issuing an Addendum in accordance with Clause 2.10 uniformly for all
Applicants.
2.15 Late Applications
Applications received by the Authority after the specified time on the

Application Due Date shall not be eligible for consideration and shall be
summarily rejected.
2.16 Modifications/ substitution/ withdrawal of Applications
2.16.1 The Applicant may modify, substitute or withdraw its Application after
submission, provided that written notice of the modification, substitution or
withdrawal is received by the Authority prior to the Application Due Date. No
Application shall be modified, substituted or withdrawn by the Applicant on or
after the Application Due Date.
2.16.2 The modification, substitution or withdrawal notice shall be prepared, sealed,

marked, and delivered in accordance with Clause 2.13, with the envelopes
being additionally marked “MODIFICATION”, “SUBSTITUTION” or
“WITHDRAWAL”, as appropriate.
2.16.3 Any alteration/ modification in the Application or additional information

supplied subsequent to the Application Due Date, unless the same has been
expressly sought for by the Authority, shall be disregarded.
D. EVALUATION PROCESS
2.17 Opening and Evaluation of Applications
2.17.1 The Authority shall open the Applications at 1130 hours IST on the Application
Due Date, at the place specified in Clause 2.13.3 and in the presence of the
Applicants who choose to attend.
2.17.2 Applications for which a notice of withdrawal has been submitted in

accordance with Clause 2.16 shall not be opened.
2.17.3 The Authority will subsequently examine and evaluate Applications in

accordance with the provisions set out in Section 3.
2.17.4 Applicants are advised that pre-qualification of Applicants will be entirely at

the discretion of the Authority. Applicants will be deemed to have understood
and agreed that no explanation or justification on any aspect of the Bidding
Process or selection will be given.
22
2.17.5 Any information contained in the Application shall not in any way be construed
as binding on the Authority, its agents, successors or assigns, but shall be
binding against the Applicant if the Project is subsequently awarded to it on
the basis of such information.
2.17.6 The Authority reserves the right not to proceed with the Bidding Process at
any time without notice or liability and to reject any or all Application(s) without
assigning any reasons.
2.17.7 If any information furnished by the Applicant is found to be incomplete, or

contained in formats other than those specified herein, the Authority may, in
its sole discretion, exclude the relevant project from computation of the
Eligible Score of the Applicant.
2.17.8 In the event that an Applicant claims credit for an Eligible Project, and such
claim is determined by the Authority as incorrect or erroneous, the Authority
shall reject such claim and exclude the same from computation of the Eligible
Score, and may also, while computing the aggregate Experience Score of the
Applicant, make a further deduction equivalent to the claim rejected
hereunder. Where any information is found to be patently false or amounting
to a material misrepresentation, the Authority reserves the right to reject the
Application and/ or Bid in accordance with the provisions of Clauses 2.7.2 and
2.7.3.
2.18 Confidentiality
Information relating to the examination, clarification, evaluation, and

recommendation for the short-listed pre-qualified Applicants shall not be
disclosed to any person who is not officially concerned with the process or is
not a retained professional advisor advising the Authority in relation to, or
matters arising out of, or concerning the Bidding Process. The Authority will
treat all information, submitted as part of Application, in confidence and will
require all those who have access to such material to treat the same in
confidence. The Authority may not divulge any such information unless it is
directed to do so by any statutory entity that has the power under law to
require its disclosure or is to enforce or assert any right or privilege of the
statutory entity and/ or the Authority or as may be required by law or in
connection with any legal process.
2.19 Tests of responsiveness
2.19.1 Prior to evaluation of Applications, the Authority shall determine whether each
Application is responsive to the requirements of the RFQ. An Application shall
be considered responsive only if:
(b) it is received by the Application Due Date including any extension

thereof pursuant to Clause 2.14.2;
23
(c) it is signed, sealed, bound together in hard cover, and marked as
stipulated in Clauses 2.12 and 2.13;
(d) it is accompanied by the Power of Attorney as specified in Clause

2.2.5, and in the case of a Consortium, the Power of Attorney as
specified in Clause 2.2.6 (c);
(e) it contains all the information and documents (complete in all respects)
as requested in this RFQ;
(f) it contains information in formats same as those specified in this RFQ;
(g) it contains certificates from its statutory auditors$ in the formats

specified at Appendix-I of the RFQ for each Eligible Project;
(h) it contains an attested copy of the receipt for payment of Rs. 10,000
(Rupees ten thousand only) to Authority towards the cost of the RFQ
document;
(i) it is accompanied by the Jt. Bidding Agreement (for Consortium),

specific to the Project, as stipulated in Clause 2.2.6(g);
(j) it does not contain any condition or qualification; and
(k) it is not non-responsive in terms hereof.
2.19.2 The Authority reserves the right to reject any Application which is non-
responsive and no request for alteration, modification, substitution or
withdrawal shall be entertained by the Authority in respect of such Application.
2.20 Clarifications
2.20.1 To facilitate evaluation of Applications, the Authority may, at its sole

discretion, seek clarifications from any Applicant regarding its Application.
Such clarification(s) shall be provided within the time specified by the
Authority for this purpose. Any request for clarification(s) and all clarification(s)
in response thereto shall be in writing.
2.20.2 If an Applicant does not provide clarifications sought under Clause 2.20.1
above within the prescribed time, its Application shall be liable to be rejected.
In case the Application is not rejected, the Authority may proceed to evaluate
the Application by construing the particulars requiring clarification to the best
of its understanding, and the Applicant shall be barred from subsequently
questioning such interpretation of the Authority.
$
In case duly certified audited annual financial statements containing the requisite details are provided, a
separate certification by statutory auditors would not be necessary in respect of Clause 2.19.1 (g). In
24
E. QUALIFICATION AND BIDDING
2.21 Short-listing and notification
After the evaluation of Applications, the Authority would announce a list of
short-listed pre-qualified Applicants (Bidders) who will be eligible for
participation in the Bid Stage. At the same time, the Authority would notify the
other Applicants that they have not been short-listed. The Authority will not
entertain any query or clarification from Applicants who fail to qualify.
2.22 Submission of Bids

The Bidders will be requested to submit a Bid in the form and manner to be
set out in the Bidding Documents.
Only pre-qualified Applicants shall be invited by the Authority to submit their
Bids for the Project. The Authority is likely to provide a comparatively short
time span for submission of the Bids for the Project. The Applicants are
therefore advised to visit the site and familiarise themselves with the Project
by the time of submission of the Application. No extension of time is likely to
be considered for submission of Bids pursuant to invitation that may be issued
by the Authority.
2.23 Proprietary data

All documents and other information supplied by the Authority or submitted by
an Applicant to the Authority shall remain or become the property of the
Authority. Applicants are to treat all information as strictly confidential and
shall not use it for any purpose other than for preparation and submission of
their Application. The Authority will not return any Application or any
information provided along therewith.
2.24 Correspondence with the Applicant

Save and except as provided in this RFQ, the Authority shall not entertain any
correspondence with any Applicant in relation to the acceptance or rejection
of any Application.
25
3. CRITERIA FOR EVALUATION
3.1 Evaluation parameters
3.1.1 Only those Applicants who meet the eligibility criteria specified in Clauses
2.2.2 and 2.2.3 above shall qualify for evaluation under this Section 3.
Applications of firms/ consortia who do not meet these criteria shall be
rejected.
3.1.2 The Applicant’s competence and capability is proposed to be established by

the following parameters:
(a) Technical Capacity; and
(b) Financial Capacity
3.2 Technical Capacity for purposes of evaluation
3.2.1 Subject to the provisions of Clause 2.2, the following categories of experience
would qualify as Technical Capacity and eligible experience (the "Eligible
Experience") in relation to eligible projects as stipulated in Clauses 3.2.3 and
3.2.4 (the "Eligible Projects"):
Category 1: Project experience on Eligible Projects in warehousing/storage

sector that qualify under Clause 3.2.3
Category 2: Project experience on Eligible Projects in core sector that qualify
under Clause 3.2.3
Category 3: Construction experience on Eligible Projects in
warehousing/storage sector that qualify under Clause 3.2.4
Category 4: Construction experience on Eligible Projects in core sector that
qualify under Clause 3.2.4
(iii) warehousing/storage sector would be deemed to include

(iv) core sector would be deemed to include roads, highways and bridges,
real estate development.$
3.2.2 Eligible Experience in respect of each category shall be measured only for
Eligible Projects.
$
Real estate development shall not include residential flats unless they form part of a real estate complex or
township which has been built by the Applicant.
26
3.2.3 For a project to qualify as an Eligible Project under Categories 1 and 2:
(e) It should have been undertaken as a PPP project on BOT, BOLT,

(f) the entity claiming experience should have held, in the company owing
(g) the capital cost of the project should be more than Rupees 6 (six)
crore; and
(h) the entity claiming experience shall, during the last 5 (five) financial
Project.
3.2.4 For a project to qualify as an Eligible Project under Categories 3 and 4, the
Applicant should have paid for execution of its construction works or received
payments from its client(s) for construction works executed, fully or partially,
during the 5 (five) financial years immediately preceding the Application Due
Date, and only the payments (gross) actually made or received, as the case
may be, during such 5 (five) financial years shall qualify for purposes of
computing the Experience Score. However, payments/receipts of less than
Rupees 6 crore (Rupees six crore) shall not be reckoned as
hereunder.
3.2.5 The Applicant shall quote experience in respect of a particular Eligible Project
under any one category only, even though the Applicant (either individually or
along with a member of the Consortium) may have played multiple roles in the
cited project. Double counting for a particular Eligible Project shall not be
permitted in any form.
3.2.6 Subject to the provisions of Clause 3.2.7, an Applicant’s experience shall be

measured and stated in terms of a score (the "Experience Score"). The
Experience Score for an Eligible Project in a given category would be the
eligible payments and/or receipts specified in Clause 2.2.2 (A), divided by one
27
crore and then multiplied by the applicable factor in Table 3.2.6 below. In case
the Applicant has experience across different categories, the score for each
category would be computed as above and then aggregated to arrive at its
Experience Score.
Table 3.2.6: Factors for Experience across categories
Categories Factor
Category 1 1.5
Category 2 0.8
Category 3 0.9
Category 4 0.4
3.2.7 The Experience Score determined in accordance with Clause 3.2.6 in respect
of an Eligible Project situated in a developed country which is a member of
OECD shall be further multiplied by a factor of 0.5 (zero point five) and the
product thereof shall be the Experience Score for such Eligible Project.
3.2.8 Experience for any activity relating to an Eligible Project shall not be claimed
by two or more Members of the Consortium. In other words, no double
counting by a Consortium in respect of the same experience shall be
permitted in any manner whatsoever.
3.3 Details of Experience
3.3.1 The Applicant should furnish the details of Eligible Experience for the last 5
(five) financial years immediately preceding the Application Due Date.
3.3.2 The Applicants must provide the necessary information relating to Technical
Capacity as per format at Annex-II of Appendix-I.
3.3.3 The Applicant should furnish the required Project-specific information and
evidence in support of its claim of Technical Capacity, as per format at Annex-
IV of Appendix-I.
3.4 Financial information for purposes of evaluation
3.4.1 The Application must be accompanied by the Audited Annual Reports of the
Applicant (of each Member in case of a Consortium) for the last 5 (five)
financial years, preceding the year in which the Application is made.
3.4.2 In case the annual accounts for the latest financial year are not audited and
therefore the Applicant cannot make it available, the Applicant shall give an
undertaking to this effect and the statutory auditor shall certify the same. In
such a case, the Applicant shall provide the Audited Annual Reports for 5
(five) years preceding the year for which the Audited Annual Report is not
being provided.
3.4.3 The Applicant must establish the minimum Net Worth specified in Clause
2.2.2 (B), and provide details as per format at Annex-III of Appendix-I.
28
3.5 Short-listing of Applicants
3.5.1 The credentials of eligible Applicants shall be measured in terms of their

Experience Score. The sum total of the Experience Scores for all Eligible
Projects shall be the ‘Aggregate Experience Score’ of a particular Applicant.
In case of a Consortium, the Aggregate Experience Score of each of its
Members, who have an equity share of at least 26% in such Consortium, shall
be summed up for arriving at the combined Aggregate Experience Score of
the Consortium.
3.5.2 The Applicants shall then be ranked on the basis of their respective
Aggregate Experience Scores and short-listed for submission of Bids. The
Authority expects to short-list upto 6 (six) pre-qualified Applicants for
participation in the Bid Stage. The Authority, however, reserves the right to
increase the number of short-listed pre-qualified Applicants by adding
additional Applicant.
3.5.3 The Authority may, in its discretion, maintain a reserve list of pre-qualified
Applicants who may be invited to substitute the short-listed Applicants in the
event of their withdrawal from the Bid Process or upon their failure to conform
to the conditions specified herein; provided that a substituted Applicant shall
be given at least 30 (thirty) days to submit its Bid.
29
4. FRAUD AND CORRUPT PRACTICES
4.1 The Applicants and their respective officers, employees, agents and advisers
shall observe the highest standard of ethics during the Bidding Process.
Notwithstanding anything to the contrary contained herein, the Authority may
reject an Application without being liable in any manner whatsoever to the
Applicant if it determines that the Applicant has, directly or indirectly or
through an agent, engaged in corrupt practice, fraudulent practice, coercive
practice, undesirable practice or restrictive practice in the Bidding Process.
4.2 Without prejudice to the rights of the Authority under Clause 4.1 hereinabove,
if an Applicant is found by the Authority to have directly or indirectly or
through an agent, engaged or indulged in any corrupt practice, fraudulent
practice, coercive practice, undesirable practice or restrictive practice during
the Bidding Process, such Applicant shall not be eligible to participate in any
tender or RFQ issued by the Authority during a period of 2 (two) years from
the date such Applicant is found by the Authority to have directly or indirectly
or through an agent, engaged or indulged in any corrupt practice, fraudulent
practice, coercive practice, undesirable practice or restrictive practice, as the
case may be.
4.3 For the purposes of this Clause 4, the following terms shall have the meaning
hereinafter respectively assigned to them:
(a) “corrupt practice” means (i) the offering, giving, receiving, or

soliciting, directly or indirectly, of anything of value to influence the
actions of any person connected with the Bidding Process (for
avoidance of doubt, offering of employment to, or employing, or
engaging in any manner whatsoever, directly or indirectly, any official
of the Authority who is or has been associated in any manner, directly
or indirectly, with the Bidding Process or the LOA or has dealt with
matters concerning the Concession Agreement or arising therefrom,
before or after the execution thereof, at any time prior to the expiry of
one year from the date such official resigns or retires from or otherwise
ceases to be in the service of the Authority, shall be deemed to
constitute influencing the actions of a person connected with the
Bidding Process); or (ii) save and except as permitted under sub
clause (d) of Clause 2.2.1, engaging in any manner whatsoever,
whether during the Bidding Process or after the issue of the LOA or
after the execution of the Concession Agreement, as the case may be,
any person in respect of any matter relating to the Project or the LOA
or the Concession Agreement, who at any time has been or is a legal,
financial or technical adviser of the Authority in relation to any matter
concerning the Project;
(b) “fraudulent practice” means a misrepresentation or omission of facts

or suppression of facts or disclosure of incomplete facts, in order to
influence the Bidding Process;
30
(c) “coercive practice” means impairing or harming or threatening to
impair or harm, directly or indirectly, any person or property to influence
any person’s participation or action in the Bidding Process;
(d) “undesirable practice” means (i) establishing contact with any person
connected with or employed or engaged by the Authority with the
objective of canvassing, lobbying or in any manner influencing or
attempting to influence the Bidding Process; or (ii) having a Conflict of
Interest; and
(e) “restrictive practice” means forming a cartel or arriving at any

understanding or arrangement among Applicants with the objective of
restricting or manipulating a full and fair competition in the Bidding
Process.
31
5. PRE-APPLICATION CONFERENCE
5.1 A Pre-Application conference of the interested parties shall be convened at

the designated date, time and place. Only those persons who have purchased
the RFQ document shall be allowed to participate in the Pre-Application
conference. Applicants who have downloaded the RFQ document from the
Authority’s website (http://www.mpwarehousing.com) should submit a
Demand Draft of Rs. 10,000 (Rupees ten thousand only) towards the cost of
document$, through their representative attending the conference. A
maximum of three representatives of each Applicant shall be allowed to
participate on production of authority letter from the Applicant.
5.2 During the course of Pre-Application conference, the Applicants will be free to
seek clarifications and make suggestions for consideration of the Authority.
The Authority shall endeavour to provide clarifications and such further
information as it may, in its sole discretion, consider appropriate for facilitating
a fair, transparent and competitive Bidding Process.
$
32
6. MISCELLANEOUS
6.1 The Bidding Process shall be governed by, and construed in accordance with,
the laws of India and the Courts at Bhopal shall have exclusive jurisdiction
over all disputes arising under, pursuant to and/ or in connection with the
Bidding Process.
6.2 The Authority, in its sole discretion and without incurring any obligation or
liability, reserves the right, at any time, to;
(a) suspend and/ or cancel the Bidding Process and/ or amend and/ or
supplement the Bidding Process or modify the dates or other terms and
conditions relating thereto;
(b) consult with any Applicant in order to receive clarification or further

information;
(c) pre-qualify or not to pre-qualify any Applicant and/ or to consult with any
Applicant in order to receive clarification or further information;
(d) retain any information and/ or evidence submitted to the Authority by, on
behalf of, and/ or in relation to any Applicant; and/ or
(e) independently verify, disqualify, reject and/ or accept any and all
submissions or other information and/ or evidence submitted by or on
behalf of any Applicant.
6.3 It shall be deemed that by submitting the Application, the Applicant agrees
and releases the Authority, its employees, agents and advisers, irrevocably,
unconditionally, fully and finally from any and all liability for claims, losses,
damages, costs, expenses or liabilities in any way related to or arising from
the exercise of any rights and/ or performance of any obligations hereunder
and the Bidding Documents, pursuant hereto, and/ or in connection with the
Bidding Process, to the fullest extent permitted by applicable law, and waives
any and all rights and/ or claims it may have in this respect, whether actual or
contingent, whether present or in future.
33
APPENDIX I
Letter Comprising the Application for Pre-Qualification
(Refer Clause 2.13.2)
Dated:
To,
The Chief Engineer
Office Complex, Block ‘A’, Gautam Nagar
Sub: Application for pre-qualification for ............... location in Madhya

Pradesh - Silos Project
Dear Sir,
With reference to your RFQ document dated ………..$, I/we, having examined
the RFQ document and understood its contents, hereby submit my/our Application
for Qualification for the aforesaid project. The Application is unconditional and
unqualified.
2. I/ We acknowledge that the Authority will be relying on the information
provided in the Application and the documents accompanying such Application for
pre-qualification of the Applicants for the aforesaid project, and we certify that all
information provided in the Application and in Annexes I to IV is true and correct;
nothing has been omitted which renders such information misleading; and all
documents accompanying such Application are true copies of their respective
originals.
3. This statement is made for the express purpose of qualifying as a Bidder for
the development, construction, operation and maintenance of the aforesaid Project
and storage of wheat therein.
4. I/ We shall make available to the Authority any additional information it may

find necessary or require to supplement or authenticate the Qualification statement.
5. I/ We acknowledge the right of the Authority to reject our Application without

assigning any reason or otherwise and hereby waive, to the fullest extent permitted
by applicable law, our right to challenge the same on any account whatsoever.
6. I/ We certify that in the last three years, we/ any of the Consortium Members
or our/ their Associates have neither failed to perform on any contract, as evidenced
by imposition of a penalty by an arbitral or judicial authority or a judicial
pronouncement or arbitration award, nor been expelled from any project or contract
by any public authority nor have had any contract terminated by any public authority
for breach on our part.
7. I/ We declare that:
(a) I/ We have examined and have no reservations to the RFQ document,
including any Addendum issued by the Authority;
$
All blank spaces shall be suitably filled up by the Applicant to reflect the particulars relating to such Applicant.
34
Appendix I
Page 2
(b) I/ We do not have any conflict of interest in accordance with Clauses 2.2.1(c)
and 2.2.1(d) of the RFQ document;
(c) I/We have not directly or indirectly or through an agent engaged or indulged
in any corrupt practice, fraudulent practice, coercive practice, undesirable
practice or restrictive practice, as defined in Clause 4.3 of the RFQ
document, in respect of any tender or request for proposal issued by or any
agreement entered into with the Authority or any other public sector
enterprise or any government, Central or State; and
(d) I/ We hereby certify that we have taken steps to ensure that in conformity
with the provisions of Section 4 of the RFQ document, no person acting for
us or on our behalf has engaged or will engage in any corrupt practice,
fraudulent practice, coercive practice, undesirable practice or restrictive
practice.
8. I/ We understand that you may cancel the Bidding Process at any time and
that you are neither bound to accept any Application that you may receive nor to
invite the Applicants to Bid for the Project, without incurring any liability to the
Applicants, in accordance with Clause 2.17.6 of the RFQ document.
9. I/ We believe that we/ our Consortium/ proposed Consortium satisfy(s) the Net
Worth criteria and meet(s) all the requirements as specified in the RFQ document
and are/ is qualified to submit a Bid.
10. I/ We declare that we/ any Member of the Consortium, or our/ its Associates
are not a Member of a/ any other Consortium applying for pre-qualification.
11. I/ We certify that in regard to matters other than security and integrity of the
country, we/ any Member of the Consortium or any of our/ their Associates have not
been convicted by a Court of Law or indicted or adverse orders passed by a
regulatory authority which could cast a doubt on our ability to undertake the Project
or which relates to a grave offence that outrages the moral sense of the community.
12. I/ We further certify that in regard to matters relating to security and integrity of
the country, we/ any Member of the Consortium or any of our/ their Associates have
not been charge-sheeted by any agency of the Government or convicted by a Court
of Law.
13. I/ We further certify that no investigation by a regulatory authority is pending

either against us/ any Member of the Consortium or against our/ their Associates or
against our CEO or any of our directors/ managers/ employees.ϒ
14. I/ We further certify that we are qualified to submit a Bid in accordance with
the guidelines for qualification of bidders seeking to acquire stakes in Public Sector
ϒ
In case the Applicant is unable to provide certifi cation regarding any pending investigation as speci fied in para 13, it may
precede the paragraph by the words viz. “Except as specified in Schedule **** hereto”. The exceptions to the certification
or any disclosures relating thereto may be clearly stated in a Schedule to be attached to the Applicati on. The Authority will
consider the contents of such Schedule and determin e whether or not the exceptions/disclosures are material to the
suitability of the Applicant for pre-qualification hereunder.
35
Appendix I
Page 3
Enterprises through the process of disinvestment issued by the GOI vide Department
of Disinvestment OM No. 6/4/2001-DD-II dated 13th July, 2001 which guidelines
apply mutatis mutandis to the Bidding Process. A copy of the aforesaid guidelines
form part of the RFQ at Appendix-V thereof.
15. I/ We undertake that in case due to any change in facts or circumstances

during the Bidding Process, we are attracted by the provisions of disqualification in
terms of the provisions of this RFQ, we shall intimate the Authority of the same
immediately.
16. The Statement of Legal Capacity as per format provided at Annex-V in
Appendix-I of the RFQ document, and duly signed, is enclosed. The power of
attorney for signing of application and the power of attorney for Lead Member of
consortium, as per format provided at Appendix II and III respectively of the RFQ,
are also enclosed.
17. I/ We understand that the selected Bidder shall either be an existing Company
incorporated under the Indian Companies Act, 1956, or shall incorporate as such
prior to execution of the Concession Agreement.
18. I/ We hereby confirm that we are in compliance of/ shall comply with the O&M
requirements specified in Clause 2.2.3.
19. I/ We hereby irrevocably waive any right or remedy which we may have at
any stage at law or howsoever otherwise arising to challenge or question any
decision taken by the Authority in connection with the selection of Applicants,
selection of the Bidder, or in connection with the selection/ Bidding Process itself, in
respect of the above mentioned Project and the terms and implementation thereof.
20. I/ We agree and undertake to abide by all the terms and conditions of the
RFQ document.
21. I/ We certify that in terms of the RFQ, my/our Networth is Rs. ………………..
(Rs. in words) and the Aggregate Experience Score is ……………… (number in
words).
{22. We agree and undertake to be jointly and severally liable for all the
obligations of the Concessionaire under the Concession Agreement till occurrence of
Financial Close in accordance with the Concession Agreement.}$
In witness thereof, I/ we submit this application under and in accordance with the
terms of the RFQ document.
Yours faithfully,
Date: (Signature, name and designation of the Authorised

Signatory)
Place: Name and seal of the Applicant/ Lead
Member
Note: Paragraphs in square parenthesis may be omitted, if not applicable, or

modified as necessary.
$
Omit if the Applicant is not a Consortium.
36
Appendix I
Annex-I
ANNEX-I
Details of Applicant
1. (a) Name:
(b) Country of incorporation:
(c) Address of the corporate headquarters and its branch office(s), if any, in
India:
(d) Date of incorporation and/ or commencement of business:
2. Brief description of the Company including details of its main lines of business
and proposed role and responsibilities in this Project:
3. Details of individual(s) who will serve as the point of contact/ communication for
the Authority:
(a) Name:
(b) Designation:
(c) Company:
(d) Address:
(e) Telephone Number:
(f) E-Mail Address:
(g) Fax Number:
4. Particulars of the Authorised Signatory of the Applicant:

(a) Name:
(b) Designation:
(c) Address:
(d) Phone Number:
(e) Fax Number:
5. In case of a Consortium:
(a) The information above (1-4) should be provided for all the Members of the
Consortium.
(b) A copy of the Jt. Bidding Agreement, as envisaged in Clause 2.2.6(g)
should be attached to the Application.
(c) Information regarding the role of each Member should be provided as per
table below:
37
Appendix I
Annex-I
Sl. Name of Member Role* Percentage of equity in

No. {Refer the Consortium{Refer
Clause Clauses 2.2.6(a), (c) & (g)}
2.2.6(d)}$
1.
2.
3.
4.
* The role of each Member, as may be determined by the Applicant, should
be indicated in accordance with instruction 4 at Annex-IV.
(d) The following information shall also be provided for each Member of the
Consortium:
Name of Applicant/ member of Consortium:
No. Criteria Yes No
1. Has the Applicant/ constituent of the Consortium
been barred by the Central/ State Government,
or any entity controlled by it, from participating in
any project (BOT or otherwise)?
2. If the answer to 1 is yes, does the bar subsist as
on the date of Application?
paid liquidated damages of more than 5% of the
contract value in a contract due to delay or has
been penalised due to any other reason in
relation to execution of a contract, in the last
three years?
6. A statement by the Applicant and each of the Members of its Consortium (where
applicable) or any of their Associates disclosing material non-performance or
contractual non-compliance in past projects, contractual disputes and litigation/
arbitration in the recent past is given below (Attach extra sheets, if necessary):
$
All provisions contained in curly parenthesis shall be suitably modified by the Applicant to reflect the particulars
relating to such Applicant.
38
Appendix I
Annex-II
ANNEX-II
Technical Capacity of the Applicant @
(Refer to Clauses 2.2.2(A), 3.2 and 3.3 of the RFQ)
Applicant Member Projec Cate- Experience¥ Experienc

#
type Code* t gory (Equivalent Rs. crore) $$
e Score£
$
Code* Payments Payment Revenues
* made/ s made appropriate
received for d from
for develop Eligible
constructio ment of Projects in
n of Eligible Categories
Eligible Projects 1 and 2
Projects in in
Categories Categori
3 and 4 es 1 and
(1) (2) 2 (8)
(4) (7)
(3) (5)
(6)
Single a
entity b
Applicant c
d
Consortiu 1a
m Member 1b
1 1c
1d
Consortiu 2a
m Member 2b
2 2c
2d
Consortiu 3a
m Member 3b
3 3c
3d
Consortiu 4a
m 4b
Member 4 4c
4d
Aggregate Experience Score =
39
Appendix I
Annex-II
@
Provide details of only those projects that have been undertaken by the Applicant
under its own name and/ or by an Associate specified in Clause 2.2.9 and/ or by a
project company eligible under Clause 3.2.3(b). In case of Categories 1 and 2, include
only those projects which have an estimated capital cost exceeding the amount
specified in Clause 3.2.3(c) and for Categories 3 and 4, include only those projects
where the payments made/received exceed the amount specified in Clause 3.2.4. In
case the Application Due Date falls within 3 (three) months of the close of the latest
financial year, refer to Clause 2.2.12.
#
An Applicant consisting of a single entity should fill in details as per the row titled
Single entity Applicant and ignore the rows titled Consortium Member. In case of a
Consortium, the row titled Single entity Applicant may be ignored. In case credit is
claimed for an Associate, necessary evidence to establish the relationship of the
Applicant with such Associate, in terms of Clause 2.2.9, shall be provided.
* Member Code shall indicate NA for Not Applicable in case of a single entity Applicant.
For other Members, the following abbreviations are suggested viz. LM means Lead
Member, TM means Technical Member, FM means Financial Member, OMM means
Operation & Maintenance Member, OM means Other Member.
**Refer Annex-IV of this Appendix-I. Add more rows if necessary.
$
Refer Clause 3.2.1.
¥ In the case of Eligible Projects in Categories 1 and 2, the figures in columns 6 and 7
may be added for computing the Experience Score of the respective projects. In the
case of Categories 3 and 4, construction shall not include supply of goods or equipment
except when such goods or equipment form part of a turn-key construction contract/
EPC contract for the project. In no case shall the cost of land be included while
computing the Experience Score of an Eligible Project.
$$
For conversion of US Dollars to Rupees, the rate of conversion shall be Rupees 55
(fifty five) to a US Dollar. In case of any other currency, the same shall first be converted
to US Dollars as on the date 60 (sixty) days prior to the Application Due Date, and the
amount so derived in US Dollars shall be converted into Rupees at the aforesaid rate.
The conversion rate of such currencies shall be the daily representative exchange rates
published by the International Monetary Fund for the relevant date.
£
Divide the amount in the Experience column by one crore and then multiply the result
thereof by the applicable factor set out in Table 3.2.6 to arrive at the Experience Score
for each Eligible Project. In the case of an Eligible Project situated in an OECD country,
the Experience Score so arrived at shall be further multiplied by 0.5, in accordance with
the provisions of Clause 3.2.7, and the product thereof shall be the Experience Score
for such Eligible Projects.
40
Appendix I
Annex-III
ANNEX-III
Financial Capacity of the Applicant
(Refer to Clauses 2.2.2(B), 2.2.4 (ii) and 3.4 of the RFQ)
(In Rs. crore$$)

Applicant Member Net Cash Accruals Net
type $ Code£ Worth€
Year Year Year Year Year Year
1 2 3 4 5 1
(1) (2) (3) (4) (5) (6) (7) (8)
Single
entity
Applicant
Consortium
Member 1
Consortium
Member 2
Consortium
Member 3
Consortium
Member 4
TOTAL
Name & address of Applicant’s Bankers:

$
Single entity Applicant and ignore the rows titled Consortium Members. In case of a
Consortium, row titled Single entity Applicant may be ignored.
£
For Member Code, see instruction 4 at Annex-IV of this Appendix-I.
€
The Applicant should provide details of its own Financial Capacity or of an Associate
$$
For conversion of other currencies into rupees, see note below Annex-II of Appendix-
I.
41
Appendix I
Annex-III
Instructions:
1. The Applicant/ its constituent Consortium Members shall attach copies of the
balance sheets, financial statements and Annual Reports for 5 (five) years
preceding the Application Due Date. The financial statements shall:
(a) reflect the financial situation of the Applicant or Consortium Members and
its/ their Associates where the Applicant is relying on its Associate’s
financials;
(b) be audited by a statutory auditor;
(c) be complete, including all notes to the financial statements; and
(d) correspond to accounting periods already completed and audited (no
statements for partial periods shall be requested or accepted).
2. Net Cash Accruals shall mean Profit After Tax + Depreciation.
3. Net Worth shall mean (Subscribed and Paid-up Equity + Reserves) less
(Revaluation reserves + miscellaneous expenditure not written off + reserves not
available for distribution to equity shareholders).
4. Year 1 will be the latest completed financial year, preceding the bidding. Year 2
shall be the year immediately preceding Year 1 and so on. In case the
Application Due Date falls within 3 (three) months of the close of the latest
5. In the case of a Consortium, a copy of the Jt. Bidding Agreement shall be
submitted in accordance with Clause 2.2.6 (g) of the RFQ document.
6. The applicant shall also provide the name and address of the Bankers to the
Applicant.
7. The Applicant shall provide an Auditor’s Certificate specifying the net worth of the
Applicant and also specifying the methodology adopted for calculating such net
worth in accordance with Clause 2.2.4 (ii) of the RFQ document.
42
Appendix I
Annex-IV
ANNEX-IV
Details of Eligible Projects
Project Code: Member Code:

Item Refer Particulars of the Project
Instruction
(1) (2) (3)
Title & nature of the project
Category 5
Year-wise (a) payments 6
received/ made for
construction, (b) payments
made for development of PPP
projects and/ or (c) revenues
appropriated
Entity for which the project 7
was constructed/ developed
Location
Project cost 8
Date of commencement of
project/ contract
Date of completion/ 9
commissioning
Equity shareholding 10
(with period during which
equity was held)
Whether credit is being taken 15
for the Eligible Experience of
an Associate (Yes/ No)
Instructions:
1. Applicants are expected to provide information in respect of each Eligible Project
in this Annex. The projects cited must comply with the eligibility criteria specified
in Clause 3.2.3 and 3.2.4 of the RFQ, as the case may be. Information provided
in this section is intended to serve as a backup for information provided in the
Application. Applicants should also refer to the Instructions below.
43
Appendix I
Annex-IV
2. For a single entity Applicant, the Project Codes would be a, b, c, d etc. In case
the Applicant is a Consortium then for Member 1, the Project Codes would be 1a,
1b, 1c, 1d etc., for Member 2 the Project Codes shall be 2a, 2b, 2c, 2d etc., and
so on.
3. A separate sheet should be filled for each Eligible Project.
4. Member Code shall indicate NA for Not Applicable in case of a single entity
Applicant. For other Members, the following abbreviations are suggested viz. LM
means Lead Member, TM means Technical Member, FM means Financial
Member, OMM means Operation & Maintenance Member; and OM means Other
Member. In case the Eligible Project relates to an Associate of the Applicant or
its Member, write “Associate” along with Member Code.
5. Refer to Clause 3.2.1 of the RFQ for category number.
6. The total payments received/ made and/or revenues appropriated for each
Eligible Project are to be stated in Annex-II of this Appendix-I. The figures to be
provided here should indicate the break-up for the past 5 (five) financial years.
Year 1 refers to the financial year immediately preceding the Application Due
Date; Year 2 refers to the year before Year 1, Year 3 refers to the year before
Year 2, and so on (Refer Clause 2.2.12). For Categories 1 and 2, expenditure on
development of the project and/or revenues appropriated, as the case may be,
should be provided, but only in respect of projects having an estimated capital
cost exceeding the amount specified in Clause 3.2.3(c). In case of Categories 3
and 4, payments made/ received only in respect of construction should be
provided, but only if the amount paid/received exceeds the minimum specified in
Clause 3.2.4. Payment for construction works should only include capital
expenditure, and should not include expenditure on repairs and maintenance.
7. In case of projects in Categories 1 and 2, particulars such as name, address and
contact details of owner/ Authority/ Agency (i.e. concession grantor, counter party
to PPA, etc.) may be provided. In case of projects in Categories 3 and 4, similar
particulars of the client need to be provided.
8. Provide the estimated capital cost of Eligible Project. Refer to Clauses 3.2.3 and
3.2.4
9. For Categories 1 and 2, the date of commissioning of the project, upon
completion, should be indicated. In case of Categories 3 and 4, date of
completion of construction should be indicated. In the case of projects under
construction, the likely date of completion or commissioning, as the case may be,
shall be indicated.
10. For Categories 1 and 2, the equity shareholding of the Applicant, in the company
owning the Eligible Project, held continuously during the period for which Eligible
Experience is claimed, needs to be given (Refer Clause 3.2.3).
11. Experience for any activity relating to an Eligible Project shall not be claimed by
two or more Members of the Consortium. In other words, no double
44
Appendix I
Annex-IV
counting by a consortium in respect of the same experience shall be permitted in
any manner whatsoever.
12. Certificate from the Applicant’s statutory auditor$ or its respective clients must be
furnished as per formats below for each Eligible Project. In jurisdictions that do
not have statutory auditors, the auditors who audit the annual accounts of the
Applicant/ Member/Associate may provide the requisite certification.
13. If the Applicant is claiming experience under Categories 1 & 2£, it should provide
a certificate from its statutory auditor in the format below:
Certificate from the Statutory Auditor regarding PPP projectsΦ
Based on its books of accounts and other published information authenticated by it, this
is to certify that …………………….. (name of the Applicant/Member/Associate) is/ was
an equity shareholder in ……………….. (title of the project company) and holds/ held
Rs. ……… cr. (Rupees ………………………….. crore) of equity (which constitutes
……..%€ of the total paid up and subscribed equity capital) of the project company from
…………... (date) to …………….. (date)¥. The project was/is likely to be commissioned
on ……………. (date of commissioning of the project).
We further certify that the total estimated capital cost of the project is Rs. ……… cr.
(Rupees …………………crore), of which Rs. ……… cr. (Rupees …………… crore) of
capital expenditure was incurred during the past five financial years as per year-wise
details noted below:
………………………
………………………
We also certify that the eligible annual revenues collected and appropriated by the
aforesaid project company in terms of Clauses 3.2.1 and 3.2.3 (d) of the RFQ during the
past five financial years were Rs. ……… cr. as per year-wise details noted below:
………………………
………………………
Name of the audit firm:

Seal of the audit firm: (Signature, name and designation
Date: of the authorised signatory)
$
In case duly certified audited annual financial statements containing the requisite details are provided, a separate
certification by statutory auditors would not be necessary.
£
Refer Clause 3.2.1 of the RFQ.
Φ Provide Certificate as per this format only. Attach Explanatory Notes to the Certificate, if necessary. Statutory
auditor means the entity that audits and certifies the annual accounts of the company.
€
Refer instruction no. 10 in this Annex-IV.
¥
In case the project is owned by the Applicant company, this language may be suitably modified to read: “It is
certified that …………….. (name of Applicant) constructed and/ or owned the ………….. (name of project) from
……………….. (date) to ………………… (date).”
45
Appendix I
Annex-IV
14. If the Applicant is claiming experience under Category 3 & 4♣, it should provide a
certificate from its statutory auditors or the client in the format below:
Certificate from the Statutory Auditor/ Client regarding construction worksΦ
Based on its books of accounts and other published information authenticated by it, {this
is to certify that …………………….. (name of the Applicant/Member/Associate) was
engaged by ……………….. (title of the project company) to execute ………………
(name of project) for …………………. (nature of project)}ψ. The construction of the
project commenced on ………….. (date) and the project was/ is likely to be
commissioned on …………… (date, if any). It is certified that ……………. (name of the
Applicant/ Member/ Associate) received/paid Rs. ……….. cr. (Rupees
…………………………… crore) by way of payment for the aforesaid construction works.
We further certify that the total estimated capital cost of the project is Rs. …… cr.
(Rupees …………………crore), of which the Applicant/Member/Associate received/paid
Rs. ……… cr. (Rupees ……………………… crore), in terms of Clauses 3.2.1 and 3.2.4
of the RFQ, during the past five financial years as per year-wise details noted below:
………………………
………………………
{It is further certified that the payments/ receipts indicated above are restricted to the
share of the Applicant who undertook these works as a partner or a member of joint
venture/ consortium.}♠

Seal of the audit firm: (Signature, name and designation of the
Date: authorised signatory).
♣
Refer Clauses 3.2.1 and 3.2.4 of the RFQ.
Φ
Provide Certificate as per this format only. Attach Explanatory Notes to the Certificate, if necessary. Statutory
ψ
In case the Applicant owned the Eligible Project and engaged a contractor for undertaking the construction works,
this language may be modified to read: “ this is to certify that …………… (name of Applicant/ Member/ Associate)
held 26% or more of the paid up and subscribed share capital in the……………. (name of Project company) when it
undertook construction of the ………………. (name of Project) through ………………… (name of the contractor).
♠
This certification should only be provided in case of jobs/ contracts, which are executed as part of a partnership/
joint venture/ consortium. The payments indicated in the certificate should be restricted to the share of Applicant in
such partnership/ joint venture/ consortium. This portion may be omitted if the contract did not involve a
partnership/ joint venture/ consortium. In case where work is not executed by partnership/ joint venture/ consortium,
this paragraph may be deleted.
46
Appendix I
Annex-IV
15. In the event that credit is being taken for the Eligible Experience of an Associate,
as defined in Clause 2.2.9, the Applicant should also provide a certificate in the
format below:
Certificate from Statutory Auditor/ Company Secretary regarding Associate$
Based on the authenticated record of the Company, this is to certify that more than 50%
(fifty per cent) of the subscribed and paid up voti ng equity of ……………… ( name of the
Applicant/ Consortium Member/ Associate) is held, directly or indirectly £, by ………………..
(name of Associate/ Applicant/ Consortium Member). By virtue of the aforesaid share-
holding, the latter exercises control over the former, who is an Associate in terms of
Clause 2.2.9 of the RFQ.
A brief description of the said equity held, direct ly or indirectly, is given below:
{Describe the share-holding of the Applicant/ Consor tium Member and the Associate. In
the event the Associate is under common control with the Applicant/ Consortium
Member, the relationship may be suitably described and similarly certified herein}
Seal of the audit firm: (Signature, name and des ignation of Date:
the authorised signatory).
$
In the event that the Applicant/ Consortium Member exercises control over an
Associate by operation of law, this certificate may be suitably modified and copies of the
relevant law may be enclosed and referred to.
£
In the case of indirect share-holding, the intervening companies in the chain of
ownership should also be Associates i.e., the share-holding in each such company
should be more than 50% in order to establish that the chain of “control” is not broken.
16. It may be noted that in the absence of any detail in the above certificates, the
information would be considered inadequate and could lead to exclusion of the
relevant project in computation of Experience ScoreΘ.
Θ
47
ANNEX-V
Statement of Legal Capacity
(To be forwarded on the letterhead of the Applicant/ Lead Member of Consortium)
Ref. Date:
To,
***********
***********
Dear Sir,
We hereby confirm that we/ our members in the Consortium (constitution of which has
been described in the application) satisfy the terms and conditions laid out in the RFQ
document.
We have agreed that …………………… (insert member’s name) will act as the Lead
Member of our consortium.*
We have agreed that ………………….. (insert individual’s name) will act as our
representative/ will act as the representative of the consortium on its behalf* and has
been duly authorized to submit the RFQ. Further, the authorised signatory is vested with
requisite powers to furnish such letter and authenticate the same.
Thanking you,
Yours faithfully,
(Signature, name and designation of the authorised signatory)
For and on behalf of……………………………..
*Please strike out whichever is not applicable.
48
APPENDIX II
Power of Attorney for signing of Application
Know all men by these presents, We…………………………………………….. (name of

the firm and address of the registered office) do hereby irrevocably constitute, nominate,
appoint and authorise Mr/ Ms (name), …………………… son/daughter/wife of
……………………………… and presently residing at …………………., who is presently
employed with us/ the Lead Member of our Consortium and holding the position of
……………………………. , as our true and lawful attorney (hereinafter referred to as the
“Attorney”) to do in our name and on our behalf, all such acts, deeds and things as are
necessary or required in connection with or incidental to submission of our application
for pre-qualification and submission of our bid for the ***** Project proposed or being
developed by the ***** (the “Authority”) including but not limited to signing and
submission of all applications, bids and other documents and writings, participate in
Pre-Applications and other conferences and providing information/ responses to the
Authority, representing us in all matters before the Authority, signing and execution of all
contracts including the Concession Agreement and undertakings consequent to
acceptance of our bid, and generally dealing with the Authority in all matters in
connection with or relating to or arising out of our bid for the said Project and/ or upon
award thereof to us and/or till the entering into of the Concession Agreement with the
Authority.
AND we hereby agree to ratify and confirm and do hereby ratify and confirm all acts,
deeds and things done or caused to be done by our said Attorney pursuant to and in
exercise of the powers conferred by this Power of Attorney and that all acts, deeds and
things done by our said Attorney in exercise of the powers hereby conferred shall and
shall always be deemed to have been done by us.
IN WITNESS WHEREOF WE, …………………………., THE ABOVE NAMED

PRINCIPAL HAVE EXECUTED THIS POWER OF ATTORNEY ON THIS ……… DAY
OF …………. 2…..
For …………………………..
(Signature, name, designation and address)
Witnesses:
1.
(Notarised)
2.
49
Appendix II
Page 2
Accepted
……………………………
(Signature)
(Name, Title and Address of the Attorney)
Notes:
The mode of execution of the Power of Attorney should be in accordance with the
procedure, if any, laid down by the applicable law and the charter documents of the
executant(s) and when it is so required, the same should be under common seal
affixed in accordance with the required procedure.
Wherever required, the Applicant should submit for verification the extract of the
charter documents and documents such as a board or shareholders’ resolution/
power of attorney in favour of the person executing this Power of Attorney for the
delegation of power hereunder on behalf of the Applicant.
For a Power of Attorney executed and issued overseas, the document will also have
to be legalised by the Indian Embassy and notarised in the jurisdiction where the
Power of Attorney is being issued. However, the Power of Attorney provided by
Applicants from countries that have signed the Hague Legislation Convention 1961
are not required to be legalised by the Indian Embassy if it carries a conforming
Appostille certificate.
50
APPENDIX III
Power of Attorney for Lead Member of Consortium
Whereas the ***** (“the Authority”) has invited applications from interested parties for
the ***** Project (the “Project”).
Whereas, …………………….., …………………….., …………………….. and

…………………….. (collectively the “Consortium”) being Members of the Consortium
are interested in bidding for the Project in accordance with the terms and conditions of
the Request for Qualification document (RFQ), Request for Proposal (RFP) and other
connected documents in respect of the Project, and
Whereas, it is necessary for the Members of the Consortium to designate one of them
as the Lead Member with all necessary power and authority to do for and on behalf of
the Consortium, all acts, deeds and things as may be necessary in connection with the
Consortium’s bid for the Project and its execution.
NOW THEREFORE KNOW ALL MEN BY THESE PRESENTS
We, …………………….. having our registered office at …………………….., M/s.

…………………….. having our registered office at …………………….., M/s.
…………………….. having our registered office at …………………….., and
…………………….. having our registered office at …………………….., (hereinafter
collectively referred to as the “Principals”) do hereby irrevocably designate, nominate,
constitute, appoint and authorise M/S …………………….. having its registered office at
…………………….., being one of the Members of the Consortium, as the Lead Member
and true and lawful attorney of the Consortium (hereinafter referred to as the
“Attorney”). We hereby irrevocably authorise the Attorney (with power to sub-delegate)
to conduct all business for and on behalf of the Consortium and any one of us during
the bidding process and, in the event the Consortium is awarded the
concession/contract, during the execution of the Project and in this regard, to do on our
behalf and on behalf of the Consortium, all or any of such acts, deeds or things as are
necessary or required or incidental to the pre-qualification of the Consortium and
submission of its bid for the Project, including but not limited to signing and submission
of all applications, bids and other documents and writings, participate in bidders and
other conferences, respond to queries, submit information/ documents, sign and
execute contracts and undertakings consequent to acceptance of the bid of the
Consortium and generally to represent the Consortium in all its dealings with the
Authority, and/ or any other Government Agency or any person, in all matters in
connection with or relating to or arising out of the Consortium’s bid for the Project and/
or upon award thereof till the Concession Agreement is entered into with the Authority.
AND hereby agree to ratify and confirm and do hereby ratify and confirm all acts, deeds
and things done or caused to be done by our said Attorney pursuant to and in exercise
of the powers conferred by this Power of Attorney and that all acts,
51
Appendix III
Page 2
deeds and things done by our said Attorney in exercise of the powers hereby conferred
shall and shall always be deemed to have been done by us/ Consortium.
IN WITNESS WHEREOF WE THE PRINCIPALS ABOVE NAMED HAVE EXECUTED

THIS POWER OF ATTORNEY ON THIS …………………. DAY OF ………. 2..…
For ……………………..
(Signature)
……………………..
(Name & Title)
For ……………………..
(Signature)
……………………..
(Name & Title)
For ……………………..
(Signature)
……………………..
(Name & Title)
52
Appendix III
Page 3
Witnesses:
1.
2.
………………………………………
(Executants)
(To be executed by all the Members of the Consortium)
Notes:
Also, wherever required, the Applicant should submit for verification the extract of
the charter documents and documents such as a board or shareholders’ resolution/
53
APPENDIX IV
Joint Bidding Agreement
(To be executed on Stamp paper of appropriate value)
THIS JOINT BIDDING AGREEMENT is entered into on this the ………… day of
………… 20…
AMONGST
1. {………… Limited, a company incorporated under the Companies Act, 1956ϒ}
and having its registered office at ………… (hereinafter referred to as the “First
Part” which expression shall, unless repugnant to the context include its
successors and permitted assigns)
AND
2. {………… Limited, a company incorporated under the Companies Act, 1956} and
having its registered office at ………… (hereinafter referred to as the “Second
AND
3. {………… Limited, a company incorporated under the Companies Act, 1956 and
having its registered office at ………… (hereinafter referred to as the “Third Part”
which expression shall, unless repugnant to the context include its successors
and permitted assigns)}
AND
having its registered office at ………… (hereinafter referred to as the “Fourth
successors and permitted assigns)}$
The above mentioned parties of the FIRST, SECOND, {THIRD and FOURTH}
PART are collectively referred to as the “Parties” and each is individually
referred to as a “Party”
WHEREAS,
(A) THE Government of Madhya Pradesh, represented by its Principal Secretary
(Food and Civil Supplies) and having its principal offices at Mantralaya, Vallabh
Bhavan, Bhopal (hereinafter referred to as the “Authority” which expression
ϒ
A Bidder who is registered abroad may mention “a company duly organized and validly existing under the laws of
the jurisdiction of its incorporation” in place of “a company registered under the Companies Act, 1956”.
$
The number of Parties will be shown here, as applicable, subject however to a maximum of 6 (six).
54
Appendix IV
Page 2
shall, unless repugnant to the context or meaning thereof, include its
administrators, successors and assigns) has invited applications (the
Applications”) by its Request for Qualification No. ………… dated …………(the
“RFQ”) for pre-qualification and short-listing of bidders for development and
operation/ maintenance of ***** Project (the “Project”) through public private
partnership.
(B) The Parties are interested in jointly bidding for the Project as members of a
Consortium and in accordance with the terms and conditions of the RFQ
document and other bid documents in respect of the Project, and
(C) It is a necessary condition under the RFQ document that the members of the
Consortium shall enter into a Joint Bidding Agreement and furnish a copy thereof
with the Application.
NOW IT IS HEREBY AGREED as follows:

1. Definitions and Interpretations
In this Agreement, the capitalised terms shall, unless the context otherwise
requires, have the meaning ascribed thereto under the RFQ.
2. Consortium
2.1 The Parties do hereby irrevocably constitute a consortium (the “Consortium”) for
the purposes of jointly participating in the Bidding Process for the Project.
2.2 The Parties hereby undertake to participate in the Bidding Process only through
this Consortium and not individually and/ or through any other consortium
constituted for this Project, either directly or indirectly or through any of their
Associates.
3. Covenants
The Parties hereby undertake that in the event the Consortium is declared the
selected Bidder and awarded the Project, it shall incorporate a special purpose
vehicle (the “SPV”) under the Indian Companies Act, 1956 for entering into a
Concession Agreement with the Authority and for performing all its obligations as
the Concessionaire in terms of the Concession Agreement for the Project.
4. Role of the Parties
The Parties hereby undertake to perform the roles and responsibilities as
described below:
(a) Party of the First Part shall be the Lead member of the Consortium and
shall have the power of attorney from all Parties for conducting all
business for and on behalf of the Consortium during the Bidding
55
Appendix IV
Page 3
Process and until the Appointed Date under the Concession Agreement
when all the obligations of the SPV shall become effective;
(b) Party of the Second Part shall be {the Technical Member of the
Consortium;}
{(c) Party of the Third Part shall be the Financial Member of the Consortium;
and}
{(d) Party of the Fourth Part shall be the Operation and Maintenance Member/
Other Member of the Consortium.}
5. Joint and Several Liability
The Parties do hereby undertake to be jointly and severally responsible for all
obligations and liabilities relating to the Project and in accordance with the terms
of the RFQ, RFP and the Concession Agreement, till such time as the Financial
Close for the Project is achieved under and in accordance with the Concession
Agreement.
6. Shareholding in the SPV
6.1 The Parties agree that the proportion of shareholding among the Parties in the
SPV shall be as follows:
First Party:
Second Party:
{Third Party :}
{Fourth Party :}
6.2 The Parties undertake that a minimum of 26% (twenty six per cent) of the
subscribed and paid up equity share capital of the SPV shall, at all times till the
second anniversary of the date of commercial operation of the Project, be held by
the Parties of the First, {Second and Third} Part whose experience and networth
have been reckoned for the purposes of qualification and short-listing of
Applicants for the Project in terms of the RFQ.
6.3 The Parties undertake that each of the Parties specified in Clause 6.2 above
shall, at all times between the commercial operation date of the Project and the
second anniversary thereof, hold subscribed and paid up equity share capital of
SPV equivalent to at least 5% (five per cent) of the Total Project Cost.
6.4 The Parties undertake that they shall collectively hold at least 51% (fifty one per
cent) of the subscribed and paid up equity share capital of the SPV at all times
until the second anniversary of the commercial operation date of the Project.
56
Appendix IV
Page 4
6.5 The Parties undertake that they shall comply with all equity lock-in requirements
set forth in the Concession Agreement.
6.6 The Parties undertake that the O&M Member shall subscribe and hold at least
10% (ten per cent) of the subscribed and paid up equity shares in the SPV in
terms of the Concession Agreement.
7. Representation of the Parties
Each Party represents to the other Parties as of the date of this Agreement that:
(a) Such Party is duly organised, validly existing and in good standing under
the laws of its incorporation and has all requisite power and authority to
enter into this Agreement;
(b) The execution, delivery and performance by such Party of this Agreement
has been authorised by all necessary and appropriate corporate or
governmental action and a copy of the extract of the charter documents
and board resolution/ power of attorney in favour of the person executing
this Agreement for the delegation of power and authority to execute this
Agreement on behalf of the Consortium Member is annexed to this
Agreement, and will not, to the best of its knowledge:
(i) require any consent or approval not already obtained;
(ii) violate any Applicable Law presently in effect and having
applicability to it;
(iii) violate the memorandum and articles of association, by-laws or
other applicable organisational documents thereof;
(iv) violate any clearance, permit, concession, grant, license or other
governmental authorisation, approval, judgement, order or decree
or any mortgage agreement, indenture or any other instrument to
which such Party is a party or by which such Party or any of its
properties or assets are bound or that is otherwise applicable to
such Party; or
(v) create or impose any liens, mortgages, pledges, claims, security
interests, charges or Encumbrances or obligations to create a lien,
charge, pledge, security interest, encumbrances or mortgage in or
on the property of such Party, except for encumbrances that would
not, individually or in the aggregate, have a material adverse effect
on the financial condition or prospects or business of such Party so
as to prevent such Party from fulfilling its obligations under this
Agreement;
57
Appendix IV
Page 5
(c) this Agreement is the legal and binding obligation of such Party,
enforceable in accordance with its terms against it; and
(d) there is no litigation pending or, to the best of such Party's knowledge,
threatened to which it or any of its Affiliates is a party that presently affects
or which would have a material adverse effect on the financial condition or
prospects or business of such Party in the fulfillment of its obligations
under this Agreement.
8. Termination
This Agreement shall be effective from the date hereof and shall continue in full
force and effect until the Financial Close of the Project is achieved under and in
accordance with the Concession Agreement, in case the Project is awarded to
the Consortium. However, in case the Consortium is either not pre-qualified for
the Project or does not get selected for award of the Project, the Agreement will
stand terminated in case the Applicant is not pre-qualified or upon return of the
Bid Security by the Authority to the Bidder, as the case may be.
9. Miscellaneous
9.1 This Joint Bidding Agreement shall be governed by laws of {India}.
9.2 The Parties acknowledge and accept that this Agreement shall not be amended
by the Parties without the prior written consent of the Authority.
58
Appendix IV
Page 6
IN WITNESS WHEREOF THE PARTIES ABOVE NAMED HAVE EXECUTED AND
DELIVERED THIS AGREEMENT AS OF THE DATE FIRST ABOVE WRITTEN.
SIGNED, SEALED AND DELIVERED SIGNED, SEALED AND DELIVERED

For and on behalf of
LEAD MEMBER by: SECOND PART
(Signature) (Signature)
(Name) (Name)
(Designation) (Designation)
(Address) (Address)
For and on behalf of For and on behalf

THIRD PART FOURTH PART
(Name) (Name)
(Address) (Address)
In the presence of:

1. 2.
59
Appendix IV
Page 7
Notes:
1. The mode of the execution of the Joint Bidding Agreement should be in
accordance with the procedure, if any, laid down by the Applicable Law and
the charter documents of the executant(s) and when it is so required, the
same should be under common seal affixed in accordance with the required
procedure.
2. Each Joint Bidding Agreement should attach a copy of the extract of the
charter documents and documents such as resolution / power of attorney in
favour of the person executing this Agreement for the delegation of power
and authority to execute this Agreement on behalf of the Consortium
Member.
3. For a Joint Bidding Agreement executed and issued overseas, the
document shall be legalised by the Indian Embassy and notarized in the
jurisdiction where the Power of Attorney has been executed.
60
APPENDIX V
Guidelines of the Department of Disinvestment
(Refer Clause1.2.1)
No. 6/4/2001-DD-II
Government of India
Department of Disinvestment
Block 14, CGO Complex
New Delhi.
Dated 13th July, 2001.
OFFICE MEMORANDUM
Sub: Guidelines for qualification of Bidders seeking to acquire stakes in Public Sector
Enterprises through the process of disinvestment
Government has examined the issue of framing comprehensive and transparent

guidelines defining the criteria for bidders interested in PSE-disinvestment so that the
parties selected through competitive bidding could inspire public confidence. Earlier,
criteria like net worth, experience etc. used to be prescribed. Based on experience and
in consultation with concerned departments, Government has decided to prescribe the
following additional criteria for the qualification/ disqualification of the parties seeking to
acquire stakes in public sector enterprises through disinvestment:
(a) In regard to matters other than the security and integrity of the country, any
conviction by a Court of Law or indictment/ adverse order by a regulatory
authority that casts a doubt on the ability of the bidder to manage the public
sector unit when it is disinvested, or which relates to a grave offence would
constitute disqualification. Grave offence is defined to be of such a nature that
it outrages the moral sense of the community. The decision in regard to the
nature of the offence would be taken on case to case basis after considering
the facts of the case and relevant legal principles, by the Government of
India.
(b) In regard to matters relating to the security and integrity of the country, any
charge-sheet by an agency of the Government/ conviction by a Court of Law
for an offence committed by the bidding party or by any sister concern of the
bidding party would result in disqualification. The decision in regard to the
relationship between the sister concerns would be taken, based on the
relevant facts and after examining whether the two concerns are substantially
controlled by the same person/ persons.
(c) In both (a) and (b), disqualification shall continue for a period that
Government deems appropriate.
61
Appendix V
Page-2
(d) Any entity, which is disqualified from participating in the disinvestment

process, would not be allowed to remain associated with it or get associated
merely because it has preferred an appeal against the order based on which
it has been disqualified. The mere pendency of appeal will have no effect on
the disqualification.
(e) The disqualification criteria would come into effect immediately and would
apply to all bidders for various disinvestment transactions, which have not
been completed as yet.
(f) Before disqualifying a concern, a Show Cause Notice why it should not be
disqualified would be issued to it and it would be given an opportunity to
explain its position.
(g) Henceforth, these criteria will be prescribed in the advertisements seeking
Expression of Interest (EOI) from the interested parties. The interested parties
would be required to provide the information on the above criteria, along with
their Expressions of Interest (EOI). The bidders shall be required to provide
with their EOI an undertaking to the effect that no investigation by a regulatory
authority is pending against them. In case any investigation is pending
against the concern or its sister concern or against its CEO or any of its
Directors/ Managers/ employees, full details of such investigation including
the name of the investigating agency, the charge/ offence for which the
investigation has been launched, name and designation of persons against
whom the investigation has been launched and other relevant information
should be disclosed, to the satisfaction of the Government. For other criteria
also, a similar undertaking shall be obtained along with EOI.
sd/-
(A.K. Tewari)
Under Secretary to the Government of India
62
APPENDIX- VI
10. Preamble
providing food security, creating buffer stocks across the state, maintaining the
quality of stored food grains and reducing wastage. Frequent upward revisions of
the minimum support price for procurement of food grains have led to a rise in
the level of procurement over the last few years. As a result, the state is faced
with the problem of managing large stocks of food grains. It is estimated that
post-harvest losses are around 10% due to lack of modern storage facilities. This
constitutes a huge national waste in terms of food as well as public money. It is,
therefore, necessary to create additional storage capacities on a large scale and
as urgently as possible.
Government of Madhya Pradesh and its agencies (the “GoMP”) at the Minimum
Support Price (MSP) declared by the Central Government. Actual procurement of
food grains is dependent on a number of factors like MSP, market sentiment,
production, global production and prices, stocks in Central Pool and other factors
which affect prices and participation of private trade. GoMP stores the procured
grains mainly in conventional godowns and CAP storage.
respectively. Due to high procurement of foodgrains and other crops during the
last few years and insufficient covered storage space to store the procured stock,
a substantial quantity of foodgrains has to be stored on open platforms in
covered area plinth (CAP) storage. The state has a total storage requirement of
150.5 lakh MT for the agricultural produce procured by it against which the
available capacity is only 87.4 lakh MT.
supply of food grains to the public at affordable prices as well as for enhancing
food security. It is an important constituent of the strategy for poverty eradication
and is intended to serve as a safety net for the poor.
63
Governments.
foodgrains would require augmentation of modern storage facilities for ensuring
quality of the produce over a period of time. Significant investment would be
required for creation of modern storage facilities and much of it can be mobilized
through PPP.
13.2 Since storage is included in the definition of infrastructure under the VGF
scheme, it should be possible to attract private investment through PPP mode by
providing viability gap funding and extending other incentives applicable to
infrastructure projects. In this regard, GoMP has decided to create 5 lakh MT of
silo capacity in the state. Standalone Silos with a capacity 25,000/ 50,000 tonnes
will be constructed, preferably with railway sidings. The Silos will be constructed
shortage of storage capacity can be significantly resolved by creating additional
storage in Madhya Pradesh which is a decentralized procurement (DCP) state
and, therefore, procures foodgrains for its own PDS consumption rather than
obtaining it from FCI. FCI is offered the excess grain after the state has retained
sufficient stocks for its own consumption.
14.2 The private entity selected through competitive bidding would be responsible for
financing, construction, operation and maintenance of Silos, scientific
management and handling of stocks and compliance with government regulation
and applicable laws. The Silos would be established with each bin having a
capacity of about 12,500 MT.
14.3 For meeting the capital expenditure on Silos, a private entity would be eligible for
viability gap funding under the extant Central Government VGF Scheme that
allows grants of upto 20% of capital cost on the basis of competitive bidding
which would be paid during the construction period. GoMP may provide an
additional VGF of upto 20% of capital costs which would be disbursed over 5
years from COD. The total VGF grant would constitute the bidding parameter.
For storage of foodgrains at the Silos, the Concessionaire will be entitled to
receive a recurring service charge which shall be payable on adherence to
performance and maintenance standards.
15.1 PPP is essentially an arrangement where the private sector partner participates
in the provision of services traditionally provided by the government. It is usually
characterized by an agreement between the government and the private sector,
with the latter undertaking to deliver an agreed service on the payment of a
unitary charge by the government, a user charge by the beneficiaries of the
service rendered and/or an upfront capital grant. The arrangement normally
64
involves a whole-life approach where the private partner is responsible for both
construction and operation. There is also some degree of risk-sharing based on
allocation of risks to the party best suited to manage it.
about lack of storage capacity in the country leading to wastage of food grains.
Moreover, the storage available in the country is, in many cases, of poor quality
leading to spoiling of food grains after they have been procured by the
procurement agencies.
(vi) The investments required may be too large compared to available public
resources, and private capital could, therefore, enable an accelerated roll
out of modern storage capacity;
(vii) functional efficiency of private entities would enable early delivery of
quality services;
(viii) risk of project completion and delivery of agreed outputs would be
(ix) public funds would be expended only upon delivery of agreed outcomes;
and
(x) private sector efficiency in the context of a long-term agreement is
storage.
The location of Silos will be in of Sehore, Dewas, Vidisha, Bhopal, Indore, Ujjain,
Satna, Harda, Hoshangabad and Raisen.
The private entity shall be responsible for the development and maintenance of
modern and temperature-controlled Silos. It will be responsible for cleaning and
drying, de-bagging (if required), unloading, weighing, testing, storing, re-bagging,
loading and despatching the foodgrains in accordance with the terms of the
Concession Agreement. The Authority will arrange for delivery of foodgrains to
the private entity for storage and for taking delivery of foodgrains from the Silos.
5,000 per MT. This could vary depending upon region, location, size of project,
interest rates and other relevant considerations. To meet such higher costs,
where applicable, it is envisaged that the Central Government would provide up
to 20 per cent of the capital costs in the form of viability gap funding, to be
determined by competitive bidding, in accordance with the extant VGF scheme.
Further, GoMP would provide an additional VGF of upto 20% of capital costs, if
required.
65
The projects will be structured on DBFOT basis. The Concession period shall be
20 years (extendable by mutual consent for another 5 years at a time subject to a
maximum period of 10 years). For the extended concession period, the State
Government would pay storage charges on the basis of wheat handled by the
Concessionaire.
For a storage capacity of 50,000 MT, the requirement of land would be about 7
acres which would be made available by GoMP. Land would be provided on
17.6 Storage charge
Each silo bin will normally have the capacity to store not more than about 12,500
MT of foodgrains. The cost of handling shall be paid by MPWLC in the form of a
recurring storage charge which shall be stated upfront at the time of invitation of
bids. The storage charge shall be divided into two parts, viz., a Fixed Charge
which shall be payable irrespective of the quantum of foodgrains actually handled
and a Variable Charge linked directly to the quantum of foodgrains handled.
The Variable Charge shall be linked to the quantum of foodgrains handled and
stored. A rate of Re. 0.50 per qtl. per month, as on April 1, 2012, is proposed be
paid on a monthly basis for storage and preservation of the grain stored in the
Silos. Both the Fixed and Variable Charges shall be linked to variation in
Wholesale Price Index (WPI).
Based on the actual handling of foodgrains in the Silos, separate charges shall
be payable towards associated services such as unloading, testing, weighing,
debagging, bagging and loading of food grains. In case, the foodgrains supplied
by the Authority do not meet the storage specifications, the Concessionaire shall
be entitled to reject such foodgrains and the Authority would transport such
foodgrains from the Concessionaire’s premises at its own cost. However, the
Authority shall have the option of getting the foodgrains cleaned/ dried at the site
to ensure that the foodgrains meet the storage specifications. Payment for each
of these services shall be made at par with the charges payable by the Ministry
of Food & Public Distribution, GoI to procuring agencies for providing similar
services within the State. If no such rate is available, the same shall be
determined mutually with the assistance of the Independent Expert, substantially
in line with current market prices. No payment shall be made if any of these
services is not undertaken by the Concessionaire.
Further, in case the Silo is declared a procurement centre / mandi, the relevant
charges/commission payable to such procurement agencies in accordance with
extant instructions of GoI shall also be payable to the Concessionaire.
66
payable only if the Silos conform to the relevant standards and specifications and
the foodgrains are maintained at the specified quality level.
The disbursements under this scheme shall be linked to the provision of specified
infrastructure and delivery of Key Performance Indicators. A pre-determined
system of incentives and penalties will be specified based on the key
performance indicators. The output parameters would be developed in
Agreement.
The storage charges during the operations period would be payable for a period
of 10 years in accordance with the above scheme. Upon completion of 10 years,
the Authority may utilise one or more bins at its discretion. For this purpose, the
Authority shall, with prior notice of at least 6 months, reserve one or more bins for
a period not less than one year and upon such reservation, the Authority shall be
liable to payment of storage charges for such bin(s) in accordance with the
provisions of this Agreement. Accordingly, the Authority shall be liable for
payment of Storage Charges for the aforesaid period of 10 years and for the bins
specifically reserved thereafter. The Concessionaire shall be free to use the
unreserved bins in such manner as he deems fit.
shall be signed between the government and the selected private entity. This will
enable the private entity to raise funds from the financial institutions for meeting
its capital expenditure. The Concession Agreements will specify the over-arching
principles while sufficient flexibility would be provided to private entities to
manage their respective Silos in conformity with the geographical requirements
of different regions. Regular monitoring would be undertaken by the government
for enforcing the provisions of the Concession Agreement. The key features of
the concession agreement would be:
67
purpose. Private sponsors for these Silos would, therefore, be selected on the
basis of a transparent and fair selection process that would ensure selection of
experienced and motivated entities. The selection would be a two-stage
selection process. In the first stage, private entities will be short-listed based on
proven track record or capacity to establish and manage the facility and net
worth. A private entity would be eligible for short-listing for a 50,000 MT silo if he
has experience of having worked in the infrastructure sector and a Net-worth of
Rs. 30 crore. Some weightage would be accorded for experience in the
agricultural industry. This criterion may be lowered for smaller Silos.
17.12.2 From amongst the short-listed bidders, the selection of the private entity will be
based on financial bids based on the lowest offer for viability gap funding (VGF).
There may be cases where the successful bidder does not require any VGF and
instead offers a service charge lower than the standard charge. In such a
situation, the bidder seeking the lowest service charge will be selected.
announced before inviting applications under this scheme. The evaluation and
scoring would be carried out by the Authority. The selection criteria and its
application would be fair and transparent so that in addition to ensuring that the
best available applicants are selected, the selection process also enhances the
confidence of the civil society in this initiative.
followed for this scheme. At the end of the concession period, the Silos would be
transferred to the Authority. The concessionaire would be responsible for
financing, constructing and maintaining the physical infrastructure of the storage
and for managing it in accordance with laid down parameters and key
18.1 The Concession Agreement would be enforced by regular inspections, audit and
monitoring for quality assurance. There would be stiff penalties for violation of the
agreement or for shortfalls in key performance indicators coupled with incentives
for better performance. The key performance indicators would include relevant
benchmarks for preservation of foodgrains.
regular reporting of outcomes which will be closely monitored by the government
besides appropriate tests, inspections and surveys. Since payment to the private
entity will be based on output parameters, a close monitoring thereof would be
ensured. Detailed arrangements for regular monitoring including online
availability of data would be spelt out and enforced as part of the concession
framework.
68
APPENDIX- VII
LIST OF BID-SPECIFIC CLAUSES$
A. Clauses and appendices with non-numerical footnotes
1. Clause 1.2.3: Brief description of Bidding Process

2. Clause 2.2.2 (B): Eligibility of Applicants: Financial Capacity
3. Clause 2.2.4 (i): Eligibility of Applicants
4. Clause 2.10.3 : Amendment of RFQ
5. Clause 2.19.1 (g): Tests of responsiveness
6. Clause 3.2.1 (ii): Technical Capacity for purposes of evaluation
7. Appendix I: Letter Comprising the Application for Pre-Qualification: Para 1 and 22
8. Appendix I, Annex-I: Details of Applicant (Table to Para 5(c))
9. Appendix I, Annex-II: Technical Capacity of the Applicant
10. Appendix I, Annex-III: Financial Capacity of the Applicant
11. Appendix I, Annex-IV: Details of Eligible Projects
12. Appendix I, Annex-IV: Details of Eligible Projects:
(i) Certificate from the Statutory Auditor regarding PPP projects
(ii) Certificate from the Statutory Auditor/ Client regarding construction works,
and
(iii) Certificate from Statutory Auditor/ Company Secretary regarding Associate
13. Appendix IV: Joint Bidding Agreement: Recital, Para 4
14. Appendix VI: List of Bid-specific clauses
B. Clauses and appendices with curly brackets

2. Appendix I: Letter Comprising the Application for Pre-Qualification: Para 22
3. Appendix I, Annex I: Details of Applicant (Table to Para 5(c), Column 3)
4. Annex-IV, Appendix I: Form of Certificate from the Statutory Auditor/ Client
regarding construction works
5. Appendix IV: Joint Bidding Agreement
C. Clauses and appendices with blank spaces

2. Appendix I, Annex-IV: Details of Eligible Projects: Certificate from the Statutory
Auditor regarding PPP project.
Auditor/ Client regarding construction works
$
This Appendix-VI contains a list of clauses and ap pendices that would need to be suitably modified fo r
reflecting applicant-specific provisions. This Appe ndix-VI may, therefore, be included in the RFQ
document to be issued to prospective Applicants. Th e blank spaces in Appendices may be filled up by
the Applicant and the footnotes may be deleted when it submits its Application
69
4. Appendix I, Annex-IV: Details of Eligible Projects: Certificate from Statutory
Auditor/ Company Secretary regarding Associate
5. Appendix I, Annex-V: Statement of Legal Capacity
6. Appendix II :Power of Attorney for signing of Application
7. Appendix III: Power of Attorney for Lead Member of Consortium
8. Appendix IV: Joint Bidding Agreement: Recitals
70

FOR


PRADESH
Project through PPP in Madhya Pradesh dated 15 March, 2013. The deletions
from the earlier text of the Request for Qualification are indicated as
strikethroughs and the additions are underlined.

Disclaimer The issue of this RFQ does not imply that the Authority is
(i)
bound to select and short-list pre-qualified pre-qualify
Applications for Bid Stage or to appoint the selected Bidder or
Concessionaire, as the case may be, for the Project and the
Authority reserves the right to reject all or any of the
Applications or Bids without assigning any reasons whatsoever.
Clause 1.1.1 The Authority intends to pre-qualify and short-list suitable

(ii)
of RFQ Applicants (the “Bidders”) who will be eligible for participation
in the Bid Stage, for awarding the Project through an open
competitive bidding process in accordance with the procedure
set out herein.
(iii) The Authority has adopted a two-stage process (collectively

Clause 1.2.1 referred to as the "Bidding Process") for selection of the bidder
of RFQ for award of the Project. The first stage (the "Qualification
Stage") of the process involves qualification (the
“Qualification”) of interested parties/ consortia who make an
Application in accordance with the provisions of this RFQ (the
"Applicant", which expression shall, unless repugnant to the
context, include the Members of the Consortium). Prior to
making an Application, the Applicant, shall pay to the Authority
a sum of Rs 10,000 (Rupees ten thousand) as the cost of the
RFQ process$. At the end of this stage, the Authority expects to
announce a short-list of up to 6 (six) list of suitable pre-qualified
Applicants who shall be eligible for participation in the second
stage of the Bidding Process (the "Bid Stage") comprising
Request for Proposals (the “Request for Proposals” or
“RFP”).
$

(iv) In the Qualification Stage, Applicants would be required to

Clause 1.2.2 furnish all the information specified in this RFQ. Only those
of RFQ Applicants that are pre-qualified and short-listed by the
Authority shall be invited to submit their Bids for the Project.
The Authority is likely to provide a comparatively short time
span for submission of the Bids for the Project. The Applicants
are, therefore, advised to visit the site and familiarise themselves
with the Project.
(v) Clause 1.3 Schedule of Bidding Process
of RFQ The Authority shall endeavour to adhere to the following
schedule:
Qualification Stage
3. Authority response to queries April May 16 07,
latest by 2013
Bhopal, Dewas, Harda,

Hoshangabad, Indore June 01, 2013
Ujjain & Vidisha
5. Announcement of short-list of Within 15 days of
pre-qualified Applicants Application Due
Date
(vi) The Authority wishes to receive Applications for Qualification
Clause 2.1.1 in order to short-list pre-qualify experienced and capable
of RFQ Applicants for the Bid Stage.
(vii) Clause 2.1.2 Short-listed Pre-qualified Applicants may be subsequently

of RFQ invited to submit the Bids for the Project.
(viii) Clause 2.2.1 (e) Other eligibility conditions shall include:

(e) of RFQ
(i) Notwithstanding anything to the contrary contained in
this RFQ, an Applicant, being a single entity, may
execute the Concession Agreement and implement the
Project on its own behalf and name without setting up
an SPV. In such an event, the existing promoters of the
Applicant, together with their Associates, shall hold not

less than 33% (thirty three per cent) of the issued and
paid up Equity of the Applicant as on date of signing of
Concession Agreement and until the completion of
construction; and shall hold at least 26% (twenty six per
cent) of such equity for a period of 2 (two) years from
the date of commercial operation of the Project.
Provided, however, that this restriction on ownership of
equity and on Change in Ownership shall apply only if
any person, together with its Associates, holds 33%
(thirty three per cent) or more of the paid up share
capital as on the date of submitting the Application in
response to this Request for Qualification.
(ii) For pre-qualification and award of Projects, the

following shall apply:
(a) For the first Rs. 30 cr. (Rupees thirty crore) of Net
Worth, the Applicant shall be eligible for award of
two Projects and for every additional Rs. 15 cr.
(Rupees fifteen crore) of Net Worth it shall be eligible
for award of one additional Project; and
(b) an Applicant shall be pre-qualified for bidding only

for Projects equal to twice the number of Projects for
which he is eligible for award.
(ix) Clause 2.2.2 To be eligible for pre-qualification and short-listing, an

(A) of RFQ Applicant shall fulfil the following conditions of eligibility:
Technical Capacity: For demonstrating technical capacity and

experience (the “Technical Capacity”), the Applicant shall,
over the past 5 (five) financial years preceding the Application
Due Date, have:
(i) paid for, or received payments for, construction of Eligible

Project(s); and/ or
(ii) paid for development of Eligible Project(s) in Category 1

and/or Category 2 specified in Clause 3.2.1; and/ or
(iii) collected and appropriated revenues from Eligible

Project(s) in Category 1 and/or Category 2 specified in
Clause 3.2.1,
such that the sum total of the above is more than Rs. 45 crore
(Rupees forty five crore) (the “Threshold Technical
Capacity”).
Provided, however, that to be eligible for pre-qualification,

the Applicant must have an Aggregate Experience Score of

at least 45 as stipulated in Clause 3.5.2. at least one fourth of

the Threshold Technical Capacity shall be from the Eligible
Projects in Category 1 and/ or Category 3 specified in Clause
3.2.1.
(x) Clause 2.2.6 Where the Applicant is a single entity, it may, subject to the
of RFQ provisions of Clause 2.2.1 (e), be required to form an
appropriate Special Purpose Vehicle, incorporated under the
Indian Companies Act, 1956 (the “SPV”), to execute the
Concession Agreement and implement the Project. In case the
Applicant is a Consortium, it shall, in addition to forming an
SPV, comply with the following additional requirements:
(a) Number of members in a ...……. their equity contribution;
(b) subject to the …………. the Consortium;
(c) members of the ……. the other members of the Consortium;
(d) the……… technical and O&M obligations;
(e) an individual ……… applying for pre-qualification;
(f) the members…….. if awarded to the Consortium;
(g) members of the Consortium shall enter into a binding Joint

Bidding Agreement, substantially in the form specified at
Appendix-IV (the “Jt. Joint Bidding Agreement”), for the
purpose of making the Application and submitting a Bid in
the event of being short-listed pre-qualified. The Jt. Joint
Bidding Agreement, to be submitted along with the
Application, shall, inter alia:
Where the Bidder is a Consortium, change in the composition

(xi) Clause 2.3.2 of a Consortium may be permitted by the Authority during the
of RFQ Bid Stage, only where:
(a) the application ……… days prior to the Bid Due Date;
(b) the Lead Member ……. Lead Member of the Consortium;
(c) the substitute is at least equal, in terms of Technical

Capacity, to the Consortium Member who is sought to be
substituted and the modified Consortium shall continue to
meet the pre-qualification and short-listing criteria for
Applicants; and

Confidentiality
(xii) Clause 2.18 Information relating to the examination, clarification,
of RFQ evaluation, and recommendation for the short-listed pre-
qualified Applicants shall not be disclosed to any person who is
not officially concerned with the process or is not a retained
professional advisor advising the Authority in relation to, or
matters arising out of, or concerning the Bidding Process. The
Authority will treat all information, submitted as part of
Application, in confidence and will require all those who have
access to such material to treat the same in confidence. The
Authority may not divulge any such information unless it is
directed to do so by any statutory entity that has the power under
law to require its disclosure or is to enforce or assert any right or
privilege of the statutory entity and/ or the Authority or as may
be required by law or in connection with any legal process.
(xiii) Clause 2.21 Short-listing Pre-qualification and notification

of RFQ
After the evaluation of Applications, the Authority would
announce a list of short-listed pre-qualified Applicants (Bidders)
who will be eligible for participation in the Bid Stage. At the
same time, the Authority would notify the other Applicants that
they have not been short-listed pre-qualified. The Authority
will not entertain any query or clarification from Applicants who
fail to qualify.
Short-listing Pre-qualification of Applicants

(xiv) Clause 3.5
of RFQ 3.5.1 The credentials of eligible Applicants shall be measured
in terms of their Aggregate Experience Score. The sum
total of the Experience Scores for all Eligible Projects
shall be the ‘Aggregate Experience Score’ of a particular
Applicant. In case of a Consortium, the Aggregate
Experience Score of each of its Members, who have an
equity share of at least 26% in such Consortium, shall be
summed up for arriving at the combined Aggregate
Experience Score of the Consortium. The Applicants
shall then be pre-qualified on the basis of their
respective eligibility.
3.5.2 The Applicants shall then be ranked pre-qualified on the

basis of their respective Aggregate Experience Scores
and short-listed for submission of Bids. The Authority
expects to short-list upto 6 (six) pre-qualified Applicants
for participation in the Bid Stage. The Authority,
however, reserves the right to increase the number of
short-listed pre-qualified Applicants by adding additional
Applicant To be eligible for pre-qualification, an

Applicant must have a minimum Aggregate

Experience Score of 45 (forty five).
3.5.3 The Authority may, in its discretion, maintain a reserve

list of pre-qualified Applicants who may be invited to
substitute the short-listed Applicants in the event of their
withdrawal from the Bid Process or upon their failure to
conform to the conditions specified herein; provided that
a substituted Applicant shall be given at least 30 (thirty)
days to submit its Bid.
(xv) Appendix WHEREAS,

IV (A) THE Government of Madhya Pradesh The Madhya
Pradesh Warehousing & Logistics Corporation
(MPWLC), represented by its Principal Secretary (Food
and Civil Supplies) Managing Director and having its
principal offices at MantralayaVallabh Bhawan, Bhopal
Office Complex, Block ‘A’, Gautam Nagar, Bhopal,
Madhya Pradesh (hereinafter referred to as the
“Authority” which expression shall, unless repugnant to the
context or meaning thereof, include its administrators,
successors and assigns) has invited applications (the
Applications”) by its Request for Qualification No.
………… dated …………(the “RFQ”) for pre-qualification
and short-listing of bidders for development and operation/
maintenance of ***** Project (the “Project”) through
public private partnership.
(xvi) Appendix 6.2 The Parties undertake that a minimum of 26% (twenty
IV six per cent) of the subscribed and paid up equity share
capital of the SPV shall, at all times till the second
anniversary of the date of commercial operation of the
Project, be held by the Parties of the First, {Second and
Third} Part whose experience and Net Worth have been
reckoned for the purposes of qualification and short-
listing of Applicants for the Project in terms of the RFQ.
(xvii) Clause 8.4 Viability gap funding for meeting project costs
of The estimated …….. if required.
Appendix- The projects will be structured on DBFOT basis. The
VI Concession period shall be 2030 years (extendable by mutual
consent for another 5 years at a time subject to a maximum
extension period of 10 years). For the extended concession
period, the State Government would pay storage charges on the
basis of wheat actually handled by the Concessionaire.

(xviii) Clause 8.11 Use of assets by the private entity

of The private entity may use up to 5% 1.5 acres of the land
Appendix- allotted at all locations, except Indore, for other commercial
VI activities related to any agro-based industry so as to enhance its
revenue streams. At Indore, only up to 0.5 acres of land shall
be available for such commercial activities. Such agro-based
industry shall include food processing, flour mills, cold
storage, warehousing of any agricultural produce and sale
of agricultural equipment and inputs. The commercial
activities may also include convenience shopping and
eateries. This will help cross-subsidise the expenditure on
preservation of food grains. The nature and extent of such use
shall be regulated in accordance with the concession agreement
and local laws, including town and country planning
regulations.
(xix) Clause Success of this scheme would depend on the private entities
8.12.1 of selected for this purpose. Private sponsors investors/
Appendix- entrepreneurs for these Silos would, therefore, be selected on
VI the basis of a transparent and fair selection process that would
ensure selection of experienced and motivated entities. The
selection would be a two-stage selection process. In the first
stage, private entities will be short-listed pre-qualified based on
proven track record or capacity to establish and manage the
facility and Net Worth. A private entity would be eligible for
short-listing pre-qualification for a 50,000 MT silo if he has
experience of having worked in the infrastructure sector and a
Net Worth of Rs. 30 crore. Some weightage would be accorded
for experience in the agricultural industry. This criterion may be
lowered for smaller Silos.
(xx) Clause From amongst the short-listed bidders, t The selection of the
8.12.2 of private entity will be based on financial bids based on the
Appendix- lowest request offer for viability gap funding (VGF). There
VI may be cases where the successful bidder does not require any
VGF and instead offers a service charge lower than the standard
charge premium. In such a situation, the bidder seeking the
lowest service charge offering the highest premium will be
selected.

M.P. WAREHOUSING & LOGISTICS CORPORATION
OFFICE COMPLEX, BLOCK "A", GAUTAM NAGAR
BHOPAL
NIT No./MPWLC/Constn./e-Tender/2013/448 Bhopal, Dated 12th April, 2013
NOTICE INVITING TENDERS (IVth Call)
M.P. Warehousing & Logistics Corporation invites offers from reputed firms
who are competent for supplying and maintaining silo bags for storage of wheat
at different locations in the state in the prescribed proforma till 22nd April, 2013,
11:00 hours. The tender documents can be obtained online as per the Key Dates
in the Notice published and detailed information can also be seen on www.
mpwarehousing.com.
The firm will have to make arrangements for providing services for
scientific and safe storage of wheat in silo bags, made of polyethylene or any
other scientifically proven material of multi layered film for superior strength, built
in protection against the potentially harmful effect of radiation, superior tensile
strength to hold shape in hot weather and superior puncture properties allowing
for sufficiently tight packing with limited stretching. The silo bags should be
designed in such a way so as to keep the stored wheat in a controlled
atmosphere thereby eliminating the need for fumigation and avoiding any chance
of deterioration.
The interested firms may submit their proposal with company profile and
required documents alongwith demand draft of Rs. 1,00,000/- in favour of
"MPWLC payable at Bhopal" latest by 22.04.2013, 11:00 hrs. The offers will be
opened on 22nd April, 2013 at 12:00 hrs.
If there is any change, it will be placed on the website only.
Please visit www.mpwarehousing.com for detailed information before

submission of the offer. The MPWLC reserves the right to reject any or all
proposals submitted at any stage without assigning any reason whatsoever.
Managing Director
1
M.P. WAREHOUSING & LOGISTICS CORPORATION, BHOPAL
Detailed Notice Inviting Tender

For
Providing Services for Scientific and Safe Storage of
Procured Wheat in Silo Bags
1. M.P. Warehousing and Logistics Corporation is well established in the field

of scientific storage of food grains and notified commodities in the state.
The procurement of food grains in rabi season 2012 was around 85 Lac
MT. MPWLC has made sufficient arrangement for scientific storage of
procured wheat which also includes the storage in Silo bags at two
locations in the state.
2. MPWLC invites applications from reputed firms who are competent for
storing wheat in silo bags and maintaining these at different locations in
the state for storage of procured wheat in Rabi 2013-14.
3. The firm will have to make arrangements for providing services for
scientific and safe storage of procured wheat in silo bags made of
polyethylene or any other scientifically proven material of multi layered film
for superior strength, built in protection against the potentially harmful
effect of radiation, superior tensile strength to hold shape in hot weather
and superior puncture properties allowing for sufficiently tight packing with
limited stretching. The silo bags should be designed in such a way so as to
keep the stored wheat in a controlled atmosphere thereby eliminating the
need for fumigation and avoiding any chance of deterioration.
4. The size of the silo bags should be such that each of it can store minimum
150 MT of wheat.
5. The silo bags are to be laid on open fields which are to be made available
by MPWLC. The firm will make all arrangements to meet the requirement
for laying of silo bags on open field.
6. The firm will make arrangements for loader, unloader, sweeper, grain cart,
tractor and/or other equipments required for storage of loose wheat in silo
bags.
7. If required, the successful bidder will have to make arrangements for
making available dryer and/or any other mechanism to match the moisture
content required for safe storage of loose wheat in silo bags for a period of
atleast 2 years.
8. The wheat in loose, will be stored in the silo bags at the identified locations
for the quantities as indicated in the tender document. These quantities are
indicative in nature based on procurement in 2012-13 and may vary
because of uncertain production and other market forces.
9. The successful bidder will be given storage charges and other following
fixed charges as per extant provisional economic cost sheet of Govt. of
India :-
A.
i) Sampling of wheat, laboratory Rs. 2 per Maximum Rs.
test and weighment, quintal 9.12 per
2
ii) Handling of procured wheat till Rs. 3 per quintal
filling of silo bags quintal
iii) Bagging and stitching after Rs. 2.12
evacuation per quintal
iv) Stacking Rs. 2 per
quintal
B.
i) One percent commission charges (against the Rs. 13.50
sanctioned two percent commission charges for per
society) quintal
C.
Weighment Charges at the time of delivery will be separately reimbursed
to second party by MPSCSC, the rates there of will be fixed on the basis of
the concerned RM, MPSCSC, approved by the HP, MPSCSC, Bhopal.
10. The charges as mentioned in clause 9(A)(i) and (ii) of Rs. 5 per quintal will
be paid to successful bidder at the time of sealing of silo bags and
remaining Rs. 4.12 per quintal as per clause 9(A)(iii) and (iv) will be paid
after the evacuation of the stock.
The 1% commission equvilent to Rs. 13.50 per quintal as per clause
9(B) will be paid to successful bidder at the time of sealing of silo bags.
11. The MPWLC will provide business guarantee for 8 months from the date of
sealing of each unit of silo bag for the quantity stored in the respective silo
bags.
12. The tender notice is for inviting bids under three envelop system, one for
earnest money, second for technical bid and third for financial bid. In the
technical bid the tenderer should submit following documents :-
i) Annual turnover or Net worth :- The firm should have turnover or Net
worth of atleast one crore per annum in any one year of the last
three years which also includes the current year till date of
submission of the tender and should submit auditory balance sheet
of that year as a matter of proof.
ii) Company profile indicating the details of storage of foodgrains and
operation of silo bags done in previous three years.
13. The financial bid in the 3rd envelop is to be submitted as per Annexure-A.
14. The details of the location for Providing Services for Scientific and Safe
Storage of Procured Wheat in Silo Bags is Annexed at B.
15. The firm will be responsible for the comprehensive insurance of the stored
stock, security, weighment and approach road.
16. MPWLC will provide land for silo bags for the period of storage. The
successful bidder will have to develop land as per requirement of storage
in silo bag.
17. The interested firms may submit their proposal with company profile and
required documents as mentioned above alongwith demand draft of Rs.
1,00,000/- in favour of "MPWLC payable at Bhopal" latest by 22.04.2013 till
11:00 hours.
3
18. If there is any deterioration found in the stored wheat in silo bags, then the
same will be evacuated immediately. In such circumstances the business
guarantee will be given upto that period only i.e. till the date of evacuation
from the silo bags. The successful bidder cannot make any claim for such
early evacuation from the silo bags in which deterioration takes place.
19. If required, modifications may be done in the tender document before five
days of date of downloading the tender document and same will be placed
on website. If there is any change, it will be placed on the website only.
20. Please visit www.mpwarehousing.com for detailed information before
submission of the offer.
21. The MPWLC reserves the right to reject any or all proposals submitted at
any stage without assigning any reason whatsoever.
22. The rates are to be quoted location wise independently.
23. The successful bidder for each location will be selected on the basis of the
lowest quoted rate for that location.
24. The successful bidder will have to start the work within 10 days from the
date of issue of acceptance letter failing which the earnest money will be
forfeited.
Managing Director
4
DRAFT AGREEMENT TO BE EXECUTED BETWEEN MPWLC, MPSCSC AND
SUCCESSFUL BIDDER FOR THE WORK OF STORAGE OF WHEAT IN SILO
BAGS
For the work of storage and maintenance of loose wheat in silo bags the
parties among which the agreement will be executed are as under :-
(i) First Party - M.P. Warehousing & Logistics Corporation
(ii) Second Party - The service provider and owner of the silo bags
(the successful bidder)
(iii) Third Party - M.P. State Civil Supplies Corporation Ltd.
1. Regional Managers of MPWLC and MPSCSC will execute the agreement.
2. MPWLC will make available land free of cost to the owner of the silo bags.
3. For storage of Wheat the representative of MPSCSC will counter sign on
acceptance letter, deposit and delivery form. The owner of the silo bag will
issue Warehouse Receipt (WHR) on which the concerned Branch
Manager of MPWLC will counter sign.
4. The successful bidder will deposit the amount equivalent to one months
storage charges to MPSCSC, the IIIrd party as guarantee. After the expiry
of the agreement the said amount of guarantee will be refunded without
interest to IInd party.
5. The business guarantee of eight months for storage in silo bags will be on
the basis of storage charges on the sanctioned lowest rate per month.
6. Ist party will deploy employees for proper technical supervision of the
stored wheat in silo bags.
7. The IInd party will produce the bill of monthly storages charges to I st party.
The Ist party will check the bills and forward it to IIIrd party for payment. The
payment will be made within a month after recieving payment from
MPSCSC.
8. The IInd party will make all security arrangements for any fire incidents and
will ensure security of the stored goods during the period of storage. The
IInd party will make available the facility of weigh bridge, beam scale and
proper movement of vehicles in the premises. If there is any damage, the
IInd party will ensure repair of roads and other requirements in time.
9. Ist party will take Fidelity Insurance policy of total cost of the stored goods
and the premium of said policy will be adjusted against the storage
charges payable to the IInd party.
10. The IInd party will also ensure comprehensive insurance as per cost of the
stored goods fixed by Govt. of India per quintal in favor of IIIrd party. The
IIIrd party may make claim on the basis of aforesaid comprehensive
insurance policy, if need arises.
11. The IInd party will clean and vacate the said premises after liquidation of
stocks stored in the silo bags and will not make any claim on this land.
12. The IInd party will make available the stored wheat in gunny bags properly
stacked on the demand of IIIrd party. The IIIrd party will provide gunny bags
for this purpose.
13. The IInd party will be liable to pay all taxes enforced from time to time.
5
14. The IInd party will take samples from silo bags on rotation basis every
month in such a manner that every silo bag is covered in 3 months and will
submit quality report to the Ist party.
15. The responsible officers of the Ist party and IIIrd party will inspect the stored
wheat time to time.
16. The storage charges will be paid to IInd party on monthly basis on receipt
from the IIIrd party. The IInd party will not make any other claim except the
storage charges on the approved rates.
17. The agreement can be terminated by the joint signature of Regional
Managers of Ist and IIIrd party after giving one months notice. only after
getting approval of MD of MPWLC and MPSCSC
18. The pucca caps may also be constructed in the same premises by Ist party
or any other storage agency wherein the silo bags are to be kept and
storage will be done in the pucca caps and silo bags in the same premises.
Duties and Responsibilities of First Party (MPWLC)

1. The Ist party will make available land (reserved by Govt. of Madhya
Pradesh for the purpose of storage of wheat in silo bags) free of cost to IInd
party on temporary basis for the period of storage of food grains under the
agreement.
2. The Ist party will counter sign on the warehouse receipt issued by II nd party
for storage of wheat in silo bags.
3. After getting storage charges from IIIrd party on the sanctioned rates the Ist
party will pay storage charges to IInd party.
4. The Ist party will ensure deployment of personnel for technical supervision
of the stored goods.
5. The Ist party will take Fidelity Insurance policy of the full cost of the stored
goods, of which the premium will be adjusted from the storage bill of IInd
party.
Duties and Responsibilities of Second Party (the owner of the silo bags -
the successful bidder)
1. The IInd party will ensure arrangement of all equipments, technical
personnel and facilities required for storage of wheat in silo bags within 30
days from the date of signing of the agreement, for atleast 50% of the
estimated quantity.
2. IInd party will ensure availability of separate set of equipments on the sites
where the expected arrival is more than 25,000 mt. and personnel for each
site. If the delay is on the part of the IInd party then the business guarantee
will be reduced by that period, if such delay occurs.
3. During the procurement season the IInd party will make all necessary
arrangements to get the procured wheat filled in silo bags before the
commencement of rainy season i.e. 1st June. If the IInd party fails in filling
the procured wheat in silo bags and if any problem occurs at site then in
such circumstances Ist party will be free to take action against IInd party
including the cancellation of business guarantee.
6
4. The IInd party will issue warehouse receipts in the name of IIIrd party for
storage of FAQ wheat as per norms fixed by Govt. of India.
5. The IIIrd party will provide gunny bags to IInd party and will demand for
issue of stored goods. The IInd party on the demand of the IIIrd party will
make all arrangements for filling the wheat of the required quantity in
gunny bags as per norms, within 10 days and stack them properly.
6. The IInd party will ensure comprehensive insurance and fidelity insurance
of the stored goods and will be liable for the safety and security of the
stocks. The IInd party will repair / replace and maintain the silo bags in
original condition, in case of any damage.
7. The IInd party will clear and vacate the said premises after disposal of the
silo bags and will not make any claim on the land. The IInd party will not
make any use of this land for any other purpose or storage of any other
commodity except wheat of IIIrd party. The IInd party will not create any
infrastructure or pucca building in the said premises. The IInd party will
make free this land and handover to I st party in the same condition as it
was handed over to IInd party for storage of wheat in silo bags.
8. The IInd party will take a license from competent authority as per MP
Agriculture Act, 1952.
9. The IInd party will be responsible for comprehensive insurance of the whole
stock of amount as per fixed cost per quintal by Govt. of India which
includes fire, flood, earthquake, strike, loot, riots, deliberate damage,
dacoity, house breaking, burglary etc. The warehouse receipt will be
issued immediate after the storage of wheat in silo bags. The insurance
policy will be taken in the name of IIIrd party by IInd party, which enables IIIrd
party to claim for any damage to the stocks.
10. The IInd party will make all safety and security arrangements as per law
and liaise with local administration.
11. The IInd party will make arrangement of weigh bridge, beam scale and
other required arrangements for warehousing of loose wheat in silo bags.
12. The IInd party will inform the PAN number to Ist and IIIrd party.
13. The IInd party will be responsible for payment of all taxes which include
municipality tax, mandi tax, entry tax and other all taxes as per extant
rules.
14. The IInd party will ensure scientific storage and required fumigation (if
required) of the stored commodity. For any damage to the stored
commodity in silo bags, the IInd party will be solely responsible and will
reimburse to IIIrd party on the basis of rates per quintal as per cost sheet
provided by IIIrd party. Any loss will be deducted from the storage bill of the
IInd party and if required will be recovered from security deposit or will be
recoverable as the arrears of land revenue.
15. The IInd party is the principle employer and will ensure labour laws. The IInd
party will be treated as principle controller of the premises and will be
responsible for any incident taking place in that premises.
16. The IInd party will make all safety arrangements of the labours, who are
deployed by them in that premises.
7
17. (a) The IInd party will deposit the amount equivalent to one month
storage charges to IIIrd party as guarantee. After the expiry of the
agreement the said amount of guarantee will be refunded (without
interest) to IInd party.
(b) The authorised officer of the Ist and IIIrd party will inspect the
premises and the stored goods as per requirement.
(c) The action against IInd party as per M.P. Agricultural Warehousing
Act, 1947 will be enforced, if the IInd party is found violating any
provisions of the Act.
nd
18. The II party will make proper arrangements for the approach road and
proper maneuvering of the vehicles in the premises. The IInd party will also
take care of proper electric facilities in the premises.
19. The IInd party will be responsible for required permissions from various
authorities in accordance with the Govt. rules.
20. The IInd party will be responsible for payment of any tax in time and will
provide the proof of such payment to the Ist party, if required.
21. The IInd party will appoint a representative at local level to liaise with I st and
IIIrd party disclosing his name, address and telephone numbers.
22. The IInd party will make all arrangements of basic amenities i.e. drinking
water, temporary toilets, properly covered waiting area for farmers,
electrification etc. and will be responsible for the expenditure on these
facilities.
23. IInd party will maintain a laboratory on site to test the quality of food grains
so as to procure only FAQ wheat.
24. IInd party will be responsible for delivery of the same FAQ wheat as
procured and in quantities as per the prevailing norms as decided by Govt.
of India.
Duties and Responsibilities of Third Party (MPSCSC)

1. The IIIrd party will make available procured wheat in bulk to IInd party. The
IIIrd party will provide business guarantee of eight months for each silo bag
computed from the date of sealing of each respective unit of silo bags.
After the period of business guarantee is over, the storage charges on the
basis of actual stored commodity per day will be paid to IInd party.
2. The IIIrd party will make payment to the Ist party on the basis of approved
rates.
3. IIIrd party will provide gunny bags to the II nd party.
4. The IIIrd party will take delivery of the stored goods within maximum of two
years of storage.
5. The IIIrd party will optimize off-take of wheat from silo bags in such a
manner so as to minimize the financial burden on the state.
6. The IIIrd party will propose to Food Commissioner for shifting of adequate
number of procurement centres to every "silo bags premise" keeping in
view the storage capacity of that premise and the policy of the state
government.
7. Labour rate for weighment at the time of delivery will be separately
reimbursed to IInd party by MPSCSC. The rate thereof will be fixed on the
8
basis of proposal of the concerned Regional Manager, MPSCSC approved
by the Head Office, MPSCSC.
Other Conditions
1. This agreement will remain inforce till the last delivery of the stored goods
in the silo bags. The period of the agreement can be reduced, extended or
terminated with mutual consent. For this purpose the Regional Managers
of the Ist party and IIIrd party are authorised.
2. For any legal dispute, the jurisdiction will be District Court, Bhopal.
3. This agreement is in accordance with the rules of M.P. Warehousing
Corporation Act, 1962 and for any violation of the rules or any adverse
activity, it will be deemed as null and void.
4. In case of any dispute, the IInd party will not create any obstruction in
delivery and deposit of the commodity. The dispute will be settled by
Arbitrator, who will be the Principal Secretary, Govt. of M.P., Deptt. of
Food, Civil Supplies and Consumer Protection or any officer of the rank not
below then the Secretary of the Govt., as authorised by him. He will be the
sole Arbitrator for this purpose and decision of the Arbitrator will be binding
on all the parties.
Regional Manager, Regional Manager,

Madhya Pradesh Warehousing and Madhya Pradesh State Civil
Logistics Corporation, Bhopal Supplies Corporation, Bhopal
9
ANNEXURE-A
FINANCIAL PROPOSAL
(Form-1)
Covering Letter
(On Applicant's letter head)
(Date and Reference)
To,
*****
*****
*****
Dear Sir,
Subject : Financial Offer for the work of Providing Services for Scientific
and Safe Storage of Procured Wheat in Silo Bags
I, __________________ (Applicant's name) on behalf of __________________

(Firm's/Company's Name) herewith enclose the Financial Proposal for above.
I agree that this offer shall remain valid for a period of 90 (ninety) days from the
due date or such further period as may be mutually agreed upon.
Yours faithfully,
(Signature, name and designation of the Applicant)
10
ANNEXURE-A
(Form-2)
Financial Proposal
For the work of Providing Services for Scientific and Safe Storage of
Procured Wheat in Silo Bags my financial offer locationwise is as under :–
S. Rate in Rs. per quintal per month

District Location
No. In Figures In words
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Yours faithfully,

Name of Firm / Company
11
Annexure - C
Details of Locations for providing services for Scientific and Safe
Storage of Procured Wheat in Silo Bags
Proposed Capacity
S.No. District Location (in MT) for Silo
Bags
Nagod / Mohari 7000
Nagod / Mohari 35000
1. Satna Uchera Mauja Athar 17000
Uchera Mauja Uchera 36000
Sub Total 95000
Hanumana / Salaiya 27000
Sirmour / Umri 48000
2. Rewa
Theothar / Ghuma 63000
Sub Total 138000
Majohli / Indrana 33000
Jamunia / Bargi 51000
3. Jabalpur
Panagar/ Umria Piparia Kundam 77000
Sub Total 161000
12
Reply to the queries made by the different Interested Bidders in response to
NIT No. 121, dated 27.12.2012
for Setting up of "Steel Silo Infrastructure" in Madhya Pradesh
S. Query Response of Authority

No.
1. Whether the net worth qualification is for each single Net Worth is for each individual
project or for all projects together i.e. Rs. 30 cr. each project. Refer NIT, Clauses 1.1.1
or for all locations total. and 2.2.2 (B) of RFQ.
2. Whether VGF 20% of capital cost with additional The Total Project Cost (TPC) will
VGF 20% by GoMP will be based on actual project be indicated in the RFP. The
cost or estimated project cost (Rs. 5000/per ton)? How maximum VGF admissible will
will MPWLC verify the project cost incurred. be 40% of TPC. For further
details refer to Scheme for
Financial Support to PPPs in
Infrastructure (VGF Guidelines)
issued by Ministry of Finance.
3. Duration of agreement is for 20 years (additional 5 The concession period will be 30
years max upto 10 years) while Revenue Guaranteed years.
is for only 10 years, and no support is available
afterwards. This will make investment proposal very
unattractive.
4. Separate SPV for different projects need to create to A suitable addendum is presently
execute, whether one company may form separate under consideration.
SPVs or different companies are required for separate
SPVs.
5. Whether AALL as an SPV can bid for the project.
6. Specified Infrastructure (including drier if any) and Details will be provided at the
delivery of key performance indicators needs to be RFP stage.
clarified in detail, as disbursement of is linked to these
output parameters.
7. 5% of the land may be used for other commercial No change is contemplated.
activities related to agro based industry to enhance its
revenue. 5% land of total available land of 7 acre is
less than 1500 yd of land which will not serve its
purpose.
8. Handling charges like unloading, debagging, bagging Details will be provided at the
& stacking: payable separate on actual quantity RFP stage.
handled but not mentioned rate.
9. Cleaning & Drying, if required would be paid by Details will be provided at the
MPWLC. At what rate? RFP stage.
1
No.
10. In case of declaring unit as Mandi Yard, Mandi Details will be provided at the
Expenses & Commission would be payable to the RFP stage.
concessionaire.......what rate/amount.
11. Both fixed and variable charge would be indexed to Refer Clause 17.6 of Information
WPC (not mentioned how much %) Memorandum at Appendix-VI of
the RFQ.
12. Will revenue after 10 years be linked to WPI. Refer to Information
Memorandum at Appendix-VI of
the RFQ.
13. Silo storage is covered under infrastructure - does it This has been included in the
means that financing is also available at lower rate of definition of Infrastructure in the
interest as for infrastructure sector, along with other Scheme for Financial Support to
benefit, it any. PPPs in Infrastructure issued by
the Ministry of Finance.
14. Preferable with Railway siding means? The present project does not
involve construction of railway
siding. However details will be
provided at the RFP stage.
15. 6 suitable pre qualified applications for each Yes Refer Clause 1.1.1 of RFQ.
location??
16. Attested copy of receipt of payment to be attached By the Applicant.
with application....... Attested by whom.
17. Where is pre qualification meeting to be held & what Pre-bid conference to be held on
time? 8 April, 2013 at 11.00 am at:
NIC Studio,
Vindhyachal Bhavan,
New Vallabh Bhavan,
Bhopal – 462 023
18. Any guarantee or backing for Debt Equity Ratio as No comments.
available to AALL.
19. What is the period be allotted for completion of Details will be provided at the
project. RFP stage.
20. Fixed & Variable rates to be paid are mentioned as Details will be provided at the
fixed on 01-04-2012. Whether rates will be revised for RFP stage.
01-04-2013. While the project may get completed say
in 2014. Rates will remain same or will be increase
with WPI till concession period starts?
2
No.
21. Terminal value will be Zero or to be determined on Details will be provided at the
what basis. What will be the terminal year from the RFP stage.
start of concession period (10th or 20 or?)
22. What is the procedure to avail VGF? Refer to the Scheme for Financial
Support to PPPs in Infrastructure
issued by the Ministry of Finance.
23. In case of railway siding, who is to bear the cost Details will be provided at the
(Concessionaire or MPWLC)? RFP stage.
24. While calculating 20% grant, what components are to A Total Project Cost will be
be incorporated into Capital Cost? indicated in the RFP. For further
details refer to the Scheme for
Financial support to PPPs in
Infrastructure issued by the
Ministry of Finance.
25. How L1 shall be decided if total of central govt. and Bidder has to quote total grant.
MP govt. VGF is same but individually different, for For further details refer Clause
example bidder no 1 quoted 15% Central govt. VGF 17.4 of Appendix – VI of RFQ
and 10% MP Govt. VGF, however Bidder no 2 quoted and Scheme for Financial support
10% Central govt. VGF and 15% MP Govt. VGF, to PPPs in Infrastructure issued
who will be L1. by the Ministry of Finance.
26. What are the specified standards and parameters of Details will be provided at the
modern storage Silo as referred in clause no 8.1? RFP stage.
Technical Specification with Amenities required of
Silos (as given in case of warehouses)?
27. Draft copy of concession agreement? To be provided at the RFP stage.
28. For extended concession period as per clause no 8.4, Details will be provided at the
whether concessionaire will receive fixed charges in RFP stage.
addition to variable charges.
29. For better clarity, request you to explain gross revenue
to be generated to concessionaire by fixed and variable
Refer Clause 17.6 and 17.9 of
charges at 60% handling capacity and 5% increase in
Appendix – VI of RFQ. Details
WPI for 3 years. Hence revenue model must be given
will be provided at the RFP stage.
with an example so as to easily understand the exact
picture of revenue. So please provide the same?
30. What is the allowed maximum Construction period for Details will be provided at the
Silo? RFP stage.
31. Location wise what is the expected average daily Details will be provided at the
handling (Input & Output both) capacity? RFP stage.
3
No.
32. Whether at one location multiple grains will be stored Details will be provided at the
in a season or only one type of grain will be stored in RFP stage.
all the four silos?
33. Who will take the legal permission related to Details will be provided at the
construction of silo and other structure and railway RFP stage.
sidings?
34. Location wise name of Commodity to be stored? Details will be provided at the
RFP stage.
35. Nature of Soil, Shape and location of land- Location Location details are attached.
wise?
36. Whether material will be input and output in form of Details will be provided at the
bags or bulk? RFP stage.
37. Present rates of Unloading, Testing, Weighing Details will be provided at the
Charges, Debagging, Bagging, Loading services. RFP stage.
38. What type of tests shall be performed in the Details will be provided at the
Laboratory for Food Grains? RFP stage.
39. Clause no. 8.4 & 8.9 seems to be contradictory, kindly
clarify as to what is the assured/guaranteed period for No change is contemplated.
the installed capacities?
40. As we understand that bagging facility needs to be Details will be provided at the
provided. In same regards, whether ancillary storage RFP stage.
space/warehouse facility is to be provided? If yes,
what would be the rent mechanism for same?
41. As per clause no. 17.6, fix charges to reduce by 1% Refer clause 17.6 of Appendix-VI
per annum over concession period. Under the same of RFQ.
point it is also mentioned that at the same time both
fix and variable charges to be linked with WPI?
42. As per clause no. 17.6, ancillary services such No change is contemplated.
cleaning & drying etc. may be rendered by the
developer but with out any guaranteed or assured
revenue stream for the same, capital
expenditure/investment is deemed to be unviable in
such case. Also please indicate current service rates
for ancillary services involved?
43. Who will be accountable for pre-cleaning operation Details will be provided at the
losses, losses due to poor texture of gunnies and losses RFP stage.
due to dust going in to the air through cyclones etc. ?
4
No.
44. Minimum payment/receipt of Rs 6 Crore for eligible
project is on totality basis for last 5 years/ annual basis Refer Clause 3.2.4 of RFQ.
or single payment floor limit?
45. As per the tender, 5 % of the land may be utilized by Details will be provided at the
the developer for Agri related activities. Clarity is RFP stage.
sought on the gambit of activities that may be carried
out and can that land may be further leased out to 3rd
party.
46. Can we go for Zincalum (Alloy of Zinc, Aluminium Specifications & Standards will
and Silicon) silos than galvanized steel, which would be provided at RFP stage.
provide better thermal insulation to storage of food
grain, hence less usage requirement for aeration
system and longer life (up to 50 years).
47. We request you to be very specific on the location of Location details are attached.
the land parcel and out of these sites, which are
probable to come up with railway siding.
48. If there were any license fee/stamp duty applicable Details will be provided at the
during allocation of tender, what would be modus RFP stage.
operandi?
49. We request you to be very specific on technical Details of technical specifications
specifications of the silos and ancillary infrastructures on silos to be provided at the RFP
involved? stage.
50. Clause 1.1.1: Please indicate us the exact addresses of Location details are attached. Site
the 10 locations identified by you for the said projects visits would be arranged by the
and prospective dates for the site visits along with Authority. Details will be
details of personnel to be contacted for arranging the provided at the RFP stage.
site visit.
51. Clause 1.1.3: Please advice whether the scope of work Detailed Specification &
is applicable to steel silos only or otherwise. Can the Standards will be provided at the
prospective bidder design and quote for the Silos with RFP stage.
an alternative MOC. Also please advice the type of
grains which you will typically store.
52. Clause 1.1.4: It is stated in the EOI an indicative project Details will be provided at the
cost of Rs 30 CR for a capacity of 50,000 MT storage RFP stage.
facility. Is it possible to provide working data sheet on how
the said figure has been arrived at? Also it would be
beneficial to have the feasibility report provided to the
prospective bidders during technical evaluation stage itself
so as to ascertain the viability of the Project.
5
No.
54. Clause 1.1.5.
The application has to be submitted to you under Refer 2.13 of RFQ.
RAPD or through personal delivery
55. Clause 1.2.3: Application fee of Rs. 30,000.00 for Details will be provided at the
submitting bidding documents, please advice whether RFP stage.
it will be refundable or Non- refundable.
56. Clause 1.2.4: Please provide us the format of the BG. Details will be provided at the
RFP stage.
57. Clause 1.2.5: It is mentioned that the highest bidder
shall be the successful selected bidder. Whereas you
have mentioned under the Point 1.7, 5.3:-“The total
VGF grant would constitute the bidding parameters” Refer Clause 1.2.8 of RFQ.
i.e. minimum demand of VGF would get preference or
highest premium payable. Please clarify on these
differences.
58. Clause 1.2.8: You are asking for lowest financial grant
for implementation and or to pay a premium in form
of revenue sharing and or upfront payment as the case
may be. Please clarify as it contradicts your early
Refer Clause 1.2.8 of RFQ.
notes.
The word “Highest Bidder” who is offering highest

bid. Please clarify on this.
59. Clause 1.2.9:
Refer Clause 17.6 of Appendix –
Please advice on the Predetermined charges for
VI of RFQ.
handling and storage of food grains.
60. Clause 4.2: Details to be provided at the RFP
With regards to VGF grant please advise on the stage. Also, refer to Scheme for
following: Financial Support to PPPs in
• Are there any specific criteria’s to be fulfilled for Infrastructure (VGF Guidelines)
availing the VGF. issued by Ministry of Finance.
• Will the successful bidder have to provide any BG
or surety towards the Grant.
• The time period for disbursement of the Grant
• If disbursed over number of years proportion of
amount disbursement per year
• Will the VGF be 20% or are there any deductions
application in the 20% value as mentioned
6
No.
• In the event the sanctioned Grant is not disbursed ,
the effect of the entire Project and any
compensation to the Successful bidder
You have also mentioned preferably with railway
sides please advice specifics in this regards.
61. Clause 5.2: Please advice on the government Details to be provided at the RFP
regulations and applicable laws for handling of stock stage.
and compliances. The project would have to
comply with Standards &
Please clarify that whether each bin of less than 12500 Specificaions provided in the
MT would be allowed or not. Specifically from 5000 - RFP
10000 MT each bin capacity.
62. Clause 5.3: With regards to VGF grant from GoMP it Refer clause 17.4 of Appendix-VI
is mentioned “May provide”. Please clarify if the said of RFQ. Refer to Scheme for
20% VGF will be guaranteed or not and if yes then the Financial Support to PPPs in
proportionate disbursement of the VGF during the said Infrastructure (VGF Guidelines)
five years from COD. issued by Ministry of Finance.
Also if the VGF is provided will it be complete 20%

or it could be partial and or with certain deductions in
the 20% value.
63. Clause 8.1: It is mentioned all modern storage would Details will be provided at the
have to be set up in accordance with the specified RFP stage.
standards and parameters. Please advice on the
specific standards/ codes applicable with standard and
parameters for the same.
64. Clause 8.3: It is mentioned that the successful bidder
would be responsible for the development and
maintenance of modern and temperature-controlled
Silos.
Please clarify as the temperature can be only Details will be provided at the
“monitored” and not controlled. RFP stage.
Is there a requirement for the silos to have an inbuilt

temperature control mechanism to regulate the storage
temperature?
7
No.
You have also mentioned that the successful bidder

will be responsible for cleaning and drying, de-
bagging (if required), unloading, weighing, testing,
storing, rebagging, loading and despatching the
foodgrains.
Please clarify that you will provide us dry and cleaned

grains for storing or whether you require us to install a
separate dryer and cleaning machine in the silos
Please clarify whether the debagging has to be done

manually or by machine.
Please clarify unloading of the grains are to be done

manually or by machine.
Please clarify that the weighing of grains has to be

done bag wise or
truck wise.
Do we have to arrange for weighing system machine

for both the truck and bag?
Incase of trucks what would be the maximum tonnage

required for the weigh bridge.
65. Please clarify in which mode of bagging you will Details will be provided at the
supply the grains(whether its jute bag) RFP stage.
Please clarify in case of rebagging whether you will
reuse the bags after stitching as usually the machine
stitched bags cannot be reused.
What about the wastage during loading, unloading,

bagging, debagging etc. Kindly clarify the % allowed.
What is the standard % of wastage allowed by Gomp

for storage.
8
No.
Please advice the per hour loading and unloading
speed required by you in the silos and the rebagging
speed and also the minimum no of bags required to be
loaded on to the trucks per hour.
66. Clause 8.4: It is mentioned that the Concession period The concession period will be 30
shall be 20 years (extendable by mutual consent for years.
another 5 years at a time subject to a maximum period
of 10 years). This works out to total 30 years. Please
clarify.
67. Clause 8.5: For a storage capacity of 50,000 MT, the No Comments.
requirement of land would be about 7 acres which
would be made available by GoMP. Land would be
provided on lease licence basis for the concession
period.
Please clarify whether any lease amount for the land

has to be paid by the allottee.
Details will be provided at the
Please clarify if the land (Site) preparation is already RFP stage.
done i.e levelling of the land and boundary marking
etc.
Please advise in case of any vegetation or tree

plantation, etc if permissions from the forest
department is in place of clearing of said bushes/ trees
etc. In case no permission has been taken then kindly
advise who would be responsible for obtaining these
permissions. Is the Land with cleared title.
Please clarify electricity will be provided up to the

land for setting up silos and 24*7 uninterrupted power
will be made available. The Concessionaire would have
to arrange Electricity connection
Kindly also indicate the electricity charges per unit for from local Utility.
our working in the 10 locations.
Please reconfirm whether the lease period for the land

is 20 years.
9
No.
68. Clause 8.6: Please clarify on the fixed charges of Rs.
5.75 per Qtl/ PM shall stand reduced 1% P.A over the
concessional period?
Please clarify the working basis of the reduction factor
to analyse impact on our cost.
You have mentioned that the Fixed Charge will not RFP stage.
normally be subject to any other increase during the
term of the Concession. Please clarify in case of WPI
increase, the same will be passed on to us.
Please clarify whether the fixed and variable cost

payable by you are deductible under service tax and
TDS
No comment.
Are there any other central or GoMP taxes applicable.
If yes what are the breakup for the same.
You have mentioned on the actual handling of No comment.

foodgrains in the Silos, separate charges shall be
payable towards associated services such as
unloading, testing, weighing, debagging, bagging and
loading of food grains. Please indicate the cost
payable by you towards the associated services so that
we may take these for our costing
Please advice whether you require an in house lab for

testing of grains and at what stage and no of samples
that will be drawn for sampling and testing and
number of times the samples will be drawn.
Whether you will allow us to send the samples for Details will be provided at the
testing to a Government authorised testing agency. RFP stage.
Please clarify the authority who will accept the

rejection and what will be the specification criteria
You have mentioned that foodgrains are to be cleaned/
10
No.
dried at the site to ensure that the foodgrains meet the
storage specifications.
Please clarify that you will supply us cleaned and

dried grains or you will want us to installed dryer and
cleaner machines in the silos. Please advice the
charges payable by you for our costing.
You have mentioned in case the Silo is declared a Details will be provided at the
procurement centre / mandi, the relevant RFP stage.
charges/commission payable to such procurement
agencies in accordance with extant instructions of GoI
shall also be payable to the Concessionaire.
Please clarify that the charges payable for our costing. RFP stage.
Please clarify who will pay the taxes that may be
levied on procurement centres/mandis and the % of
taxes thereon. Details to be provided at the RFP
stage.
Please clarify that for the storage and staging of the
empty bags, the charges will be paid by you.
69. Clause 8.7: You have mentioned that the storage
charges during the operations period under this
scheme shall be payable only if the Silos conform to
the relevant standards and specifications and the
foodgrains are maintained at the specified quality
level. Details will be provided at the
RFP stage.
Please specify the relevant standard and specification
of the steel silos and also the quality level of the
maintenance of food grains. Please advice the mode of
payments of these storage charges and also when these
charges will be paid after the Invoices are raised.
70. Clause 8.8: Please advise us the KPI provisions for Details will be provided at the
both the incentives and penalty for our costing RFP stage.
71. Clause 8.9: The storage charges during the operations
period would be payable for a period of 10 years in
RFP stage.
accordance with the above scheme. Please clarify after
11
No.
10 years, can we revise the fixed and variable charges
also can we store various other grains to private
parties.
72. Clause 8.11: Any restrictions on the usage of the 5% land

allocated and also the concession period would be valid for
20 years. After the concession period of 20 years, please
clarify that we are allowed to vacant on as is where is Details will be provided at the
basis. RFP Stage.
If over and above 5 % land is available, will GoMP allow
to use the additional land for storage and or agro based
industry
73. Clause 8.12.1: Please advice on the % weight that
Refer Clause 3.2 of RFQ-
would be accorded for experience in the agricultural
Technical capacity for purposes
industry and also on the criterion may be lowered for
of evaluation.
smaller Silos. Please clarify.
74. Clause 2: Technical Capacity of the Applicant an
Refer Clause 3.2 of RFQ-
Experience Score Column has been prepared. Please
Technical capacity for purposes
clarify on the threshold value of the Experience Score
of evaluation.
to become a successful bidder.
75. Clause 3: Financial Capacity of the Applicant please
clarify if each of the consortium member has to qualify for
the net worth condition of 30 Crore or the Group (SPV
with all Consortium members together with their weighted
percentage contribution) have to qualify for net worth of
30 Crore.
76. Clause 4: In case of Eligible Projects please specify
the type of certificates required from Foreign
Companies if they are part of the Consortium. In case
Refer Appendix I to IV of RFQ.
a foreign firm is a part of the Consortium kindly
advise on the level of attestation required for the
documents submitted by the Foreign Firm.
77. Other government agencies are accepting new
entrance with no pre-qualification of either PPP or
BOT and the only criteria being the net worth of the No change is contemplated.
company be increased. Please clarify whether your
will accept new entrants.
78. Please advice the safety measures required for a single Details will be provided at the
12
No.
12500 MT silo bin. RFP stage.
79. Please advice the life span of a Silo required by Details will be provided at the
GoMP. RFP stage.
80. Please advice the time allotted by you for setting up a Details will be provided at the
50000 MT silo from the data of acceptance of the RFP stage.
tender bid.
81. Details of land (s) proposed to be made available to
private parties. Are plots already identified? Are these
plots free of encumbrances? Are all clearances,
leasing documents, CLU etc. done:
Recommendation: All plots should be in a situation Location details are attached..

so that these can be leased out to party awarded the
work and that he may commence construction activity
immediately after award
82. Clause 8.4: “The concession period shall be 20 years No change is contemplated.
(extendable by mutual consent for another 5 years at a
time subject to maximum of 10 years”. Even though
concession period is 20 years, what is the period for
which guaranteed storage charges will be paid?
Recommendation: The guaranteed storage period

should be equal to concession period as 20 years and
extendable by another 10 years
83. Clause 8.9 “the storage charges during the operations No change is contemplated.
period would be payable for a period of 10 years,
thereafter Authority may use one or more bins at its
discretion.
Recommendation: It is recommended that guaranteed

storage charges be paid by Authority for entire period
of concession, ie 20 years
84. Clause 8.6: “The fixed charge will not normally be Details shall be provided at the
subject to any other increase during the term of the RFP stage.
concession.” However, it is mentioned in RFQ that
fixed & variable charges will be enhanced annually
in accordance with WPI? May be clarified.
85. “Fixed charge shall stand by 1% p.a. over the No change is contemplated.
13
No.
concession period.” Reasoning behind reduction by
1 % of fixed charges every year is not clear.
Recommendation: Fixed charges may not be reduced

during concession period. Any enhancement is only to
neutralize inflation.
86. Clause 8.6: “The fixed charge is proposed at Rs. 5.75

per qtl per month as on o1 April 2012.” Anticipating
that silo complexes may commence operation in FY
14, what will be the fixed charge payable on 01 Apr Details will be provided at the
2014? RFP Stage.
Recommendation: Clarity on this aspect will assist in

formulation of business case.
87. Clause 8.6:“A rate of 0.50 per qtl per month, as on No change is contemplated.
April 1, 2012, is proposed be paid on a monthly basis
for storage and preservation of the grain stored in the
silos” 1. What will be rate on 01 April 2014? 2. If
there are any bins/silos that are partially
utilized(less than 12,500 MT) then what would be
the storage & preservation charges for that
particular silo?
Recommendation: Preservation charges should

always be dependent on capacity of silo rather than
quantum of material handled or stored as expenses on
account of fumigation etc. will be for the whole bin
irrespective of the quantity of grain stored
88. Clause 8.6: “Based on actual handling……No
payment shall be made if any of these services are not
undertaken by the concessionaire.” What will the
prevailing handling charges of the associated Details will be provided at the
services on 01 April 2014? RFP Stage.
Recommendation: Clarity on this aspect will help in

formulation of business case
89. Clause 8.11 “The private entity may use 5% for other Details will be provided at the
14
No.
agro related commercial purposes. Does use of assets RFP Stage.
allow us to use the utilities (power, water,
compressed air, roads) of main Silos too to run our
own operation?
Recommendation: 0.35 Acre (5%) is not sufficient
for a viable commercial activities. It may be increased
to “upto 15%” so long as does not interfere with silo
operations.
90. Clause 8.12.2 “From amongst the short-bidders….
Lowest service charge will be selected”. Not clear Refer to Scheme for Financial
how VGF is to be determined. If as percentage then Support to PPPs in Infrastructure
%of what number? On amount indicated in RFQ (VGF Guidelines) issued by
(30 cr.) or on capex estimated by each bidder? How Ministry of Finance.
will this be normalized among all bidders?
91. There is no provision made in the RFQ document in
relation to compensating operational losses as cleaning Details will be provided at the
& handling during intake process. We recommend RFP stage.
provision of compensation against cleaning &
handling losses during intake operations.
92. Clause 8.5: “Further, in case the silos….GOI shall also Details will be provided at the
be payable the concessionaire” Have sites which are RFP stage.
proposed to be declares as mandis already
decided? Will they be announced before the bids
are made?
Recommendation: Locations which will be mandis

should be made known in RFP so that appropriate
inferences can be drawn in business case.
93. Investors would like to be assured of the financial Details will be provided at the
capability of public contracting entity (MPWLC) and RFP stage.
its ability to service the concession agreement for 20
years. Back up assurance from GoMP to provide
budgetary support will reassure investors.
94. 2.2.2 (A): For demonstrating technical capacity and Refer proviso of Clause 2.2.2 (A)
experience, the Applicant shall paid for or received of RFQ.
payments for construction of Eligible Projects.
Whether this condition is applicable for all the
categories? and whether the total of more than Rs. 45
15
No.
Crore can be considered if it comes from only one
category?
95. 3.2.4: Whether an experience of a Non PPP project but
BOO basis, qualifies the criteria mentioned under
Refer Clause 3.2 of RFQ.
Category 3 and 4 if it satisfies other conditions
mentioned under Category 3 and 4?
96. 3.2.4: Whether the criteria for payment/ receipts of Rs.
6 crore or more constitutes the total capital cost of the
project paid / received in totality in the preceding 5
years or this is the sum paid / received towards the
project each year in the preceding 5 years i.e. in total it
constitutes Rs. 30 crore or more?
97. 3.2.5: It is mentioned that the Applicant shall quote
experience under any one category only. But to
Refer Clause 2.2.2 (A) of RFQ.
comply the criteria mentioned in 3.2.4, whether it can
consider category 3 and category 4 jointly?
98. 3.2.5 and 3.2.6: It is mentioned that the applicant shall
quote experience in respect of a particular eligible
project under any one category only. Clause 3.2.6. –
says in case the applicant has experience across
No change is contemplated.
different categories, the score for each category would
be computed as above and then aggregated to arrive its
experience score. Both the clauses are not
contradictory to each other??
16
Locationwise details of Land for Steel Silo Project
S.No. District Location Details of the Land Area

Village Murli, P.H. No. 37,
1 Sehore Sehore 7 acres
Khasra No. 5
Village Padonia, P.H. No.
2 Raisen Goharganj 7 acres
2, Khasra No. 419/420
Village Pathari Haweli,
3 Vidisha Vidisha P.H. No. 65, Khasra No. 7 acres
224/2
Village Mungaliakhurd,
4 Bhopal Bhopal P.H. No. 15, Khasra No. 7 acres
70
Timarni Village Bagwad, Khasra
5 Harda 7 acres
(Bagwad) No. 160/21
Village Junheta, Khasra
6 Hoshangabad Bankhedi 7 acres
No. 124
Village Jakhya (Sanwer),
7 Indore Indore P.H. No. 38, Khasra No. 7 acres
270
Village Durgapura, P.H.
8 Dewas Dewas No. 49, Khasra No. 7 acres
145/1/1
Village Manpura, P.H.
9 Ujjain Ujjain 7 acres
No. 36, Khasra No. 198
Village Mohari, P.H. No.
10 Satna Satna 7 acres
38, Khasra No. 155/1
17
OFFICE COMLEX, BLOCK "A", GAUTAM NAGAR, BHOPAL
PRE-BID CONFERENCE
This is in continuation to NIT No. 8807, dated 15-03-2013 wherein RFQ

has been floated for the work of Steel Silo Project at ten location in Madhya
Pradesh. the Pre-Bid Conference will be held on 08-04-2013 at 11:00 hours at
the following address :-
NIC - Studio
Vidhyachal Bhavan
Near Vallabh Bhavan
Bhopal (M.P.)
Chief Engineer
BHOPAL
NIT No./MPWLC/Constn./e-Tender/2013/8805 Bhopal, Dated 15-03-2013
NOTICE INVITING TENDERS (IIIrd Call)
at different locations in the state in the prescribed proforma till 22 March, 2013,
17:00 hours The tender documents can be obtained online as per the Key Dates
mpwarehousing.com.
of deterioration.
"MPWLC payable at Bhopal" latest by 22.03.2013, 17:00 hrs. The offers will be
opened on 23rd March, 2013 at 11:00 hrs.

Managing Director
1

For

150 MT of wheat.
bags.
atleast 2 years.
India :-
A.
2
quintal
B.
society) quintal
C.
bags.
in silo bag.
1,00,000/- in favour of "MPWLC payable at Bhopal" latest by 22.03.2013.
3
Managing Director
4
BAGS
7. The IInd party will produce the bill of monthly storages charges to Ist party.
MPSCSC.
for this purpose.
5
wheat time to time.

agreement.
2. The Ist party will counter sign on the warehouse receipt issued by IInd party
party.
estimated quantity.
6
make free this land and handover to Ist party in the same condition as it
rules.
7
17. (a) The IInd party will deposit the amount equivalent to three months
storage charges to Ist IIIrd party as guarantee. After the expiry of the
nd
21. The IInd party will appoint a representative at local level to liaise with Ist and
facilities.
of India.

rates.
3. IIIrd party will provide gunny bags to the IInd party.
years of storage.
government.
8
Other Conditions
on all the parties.

9
ANNEXURE-A
FINANCIAL PROPOSAL
(Form-1)
Covering Letter
To,
*****
*****
*****
Dear Sir,

Yours faithfully,
10
ANNEXURE-A
(Form-2)
Financial Proposal

District Location
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Yours faithfully,

11
Annexure - C
Details of Locations for providing services for Scientific and Safe
Storage of Procured Wheat in Silo Bags
Proposed Capacity
S.No. District Location
for Silo Bags
Huzur / Jhangariya Misrod 53000
Huzur / Mungalia Kot 32000
1 Bhopal Berasia / Bari Chirkheda 47000
Berasia / Semri (Harrakheda) 34000
Sub Total 166000
Sehore / Sangrampur 34000
Sehore / Janpur Babadiya 15000
Shyampur / Imalia Hasan 54000
Shyampur / Shyampur 41000
2 Sehore Ashta / Kothri 30000
Ichawar / Kasba Ichawar 54000
Budni / Mardanpur 57000
Budni / Jawaharkheda 52000
Sub Total 337000
Rajgarh / Sunderpura 12000
3 Rajgarh Pachore / Saredi, Mitthanpur 25000
Sub Total 37000
Goharganj / Rojakdhachak 18000
4 Raisen Sehatganj 54000
Sub Total 72000
Vidisha / Pathari Haveli 14000
Vidisha / Dhanora Haveli 60000
5 Vidisha
Ganjbasoda / Pathari Basoda 35000
Sub Total 109000
Bankhedi / Umardha 47000
Banapura / Shivpur 50000
6 Hoshangabad
Sohagpur / Sausar Kheda 39000
Sub Total 136000
Harda / Sultanpur 36000
7 Harda
Sub Total 36000
Badoda 77000
Premser 66000
8 Sheopur Dantrda 31000
Nagda 61000
Sub Total 235000
12
Proposed Capacity
for Silo Bags
Badwara / Majgaon 28000
9 Katni Bahoriband / Bahoriband 30000
Sub Total 58000
Seoni / Katiya 32000
10 Seoni Kewlari / Sathai 36000
Sub Total 68000
Bohani 36000
11 Narsinghpur
Sub Total 36000
Chhindwara 29000
12 Chhindwara
Sub Total 29000
Sardarpur 28000
Dharampuri / Dhamnod 27000
13 Dhar
Kuchi / Talanpur 23000
Sub Total 78000
Nagod / Mohari 7000
14 Satna Uchera Mauja Athar 17000
Sub Total 95000
15 Rewa
Sub Total 138000
Dewas / Jaitpura 21000
Dewas / Bilabali 24000
Satwas / Lahorda (Kotkheda) 28000
16 Dewas Khategaon / Sannaud
47000
(Harangaon)
Khategaon / Nemawar 8500
Sub Total 128500
Shajapur / Baksukhedi 67000
Agar / Agar (Puragram Urf) 34000
17 Shajapur Kala Pipal / Kala Pipal (Mahua
Khedi)
24000
Sub Total 125000
Datia / Noner 32000
18 Datia
Sub Total 32000
13
Proposed Capacity
for Silo Bags
Gwalior / Gadi 25000
Dabra / Picchore (Navodaya
Vidyalaya)
17000
19 Gwalior Dabra / Dabra Mandi 41000
Chinnore 26000
Karhiya 18000
Sub Total 127000
Jamunia / Bargi 51000
20 Jabalpur
Sub Total 161000
14

1. Sealed Bids are invited from eligible parties by the Managing Director,
Madhya Pradesh Warehousing & Logistics Corporation (MPWLC) for
development, operation and maintenance of Silos and storage of wheat
through Public-Private Partnership (PPP) on Design, Build, Finance, Operate
and Transfer (DBFOT) basis at ten location of Madhya Pradesh for a capacity
of 50,000 MT at each location. The locations are Sehore, Dewas, Vidisha,
Harda, Hoshangabad, Bhopal, Indore, Raisen, Ujjain and Satna.
2. The approximate cost of 50,000 MT capacity Steel Silos is Rs. 30 crore.
3. MPWLC intends to pre-qualify and shortlist bidders who will be eligible for
participation in the Bid Stage for awarding the project through open
competitive bidding process.
4. The RFQ document can be obtained upon payment of Rs. 10,000 (non-
5. The date of submission and opening of offers is as below :-
offer
th th
3. Bhopal & Indore 14 May, 2013 till 14 May, 2013 at
6. Applicants shall submit separate Applications alongwith the cost of tender
7. The Bids shall be valid for 120 days from the date of opening.
8. MPWLC reserves the right to cancel/withdraw the “Request for Qualification”
without assigning any reason and shall bear no liability whatsoever
consequent upon such a decision.
9. For any further details contact on email id: dubey.jk@rediffmail.com
Managing Director

1. INTRODUCTION
1.1 Managing Director, Madhya Pradesh Warehousing & Logistics Corporation
(MPWLC) has decided to undertake development, operation and maintenance
of Silos and storage of wheat through Public-Private Partnership (PPP) on
Design, Build, Finance, Operate and Transfer (DBFOT) basis at ten locations
of Madhya Pradesh. Brief particulars of the Project are as follows:
Location Capacity in MT Indicative Project Cost (Rs. cr.)

Sehore 50,000 30
Dewas 50,000 30
Vidisha 50,000 30
Harda 50,000 30
Bhopal 50,000 30
Indore 50,000 30
Raisen 50,000 30
Ujjain 50,000 30
Satna 50,000 30
1.2 It is proposed to carry out the bidding process for selection of the bidder to
whom the Project for development of the silo for storage of wheat may be
awarded. The Concessionaire for development, operation and maintenance of
silos and storage of wheat shall be selected by a competitive bidding process
and will have freedom and flexibility to design and construct the silos. The
scope of work will broadly include designing and construction of integrated
Storage facility for storage of Foodgrains in Silos and the operation and
maintenance thereof.
1.3 A two-stage bidding process has been adopted for selection of the bidders for
award of the Project. The first stage, the Qualification Stage of the process
involves qualification of interested parties/ consortia who make an application
in accordance with the provisions of the RFQ. In the Qualification Stage,
Applicants would be required to furnish the information specified in the RFQ.
The Authority is likely to provide a comparatively short time span for
submission of the financial bids for the Project. The Applicants are, therefore,
advised to visit the site and familiarise themselves with the Project.
1.4 After the evaluation of Applications, the MPWLC would announce a list of
short-listed pre-qualified applicants who will be eligible for participation in the
second stage of the Bidding Process comprising Request for Proposals. At
the same time, the Authority would notify the other Applicants that they have
not been short-listed.
1.5 In the Bid Stage, the Bidders will be called upon to submit their financial offers
in respect of the Project, in accordance with the RFP and other documents to
be provided by the Authority, pursuant to the RFP collectively called the
Bidding Documents.
1.6 As part of the Bidding Documents, the Authority will provide for the Project a
draft Concession Agreement and feasibility report prepared by the Authority’s
with it.
1.7 Bids will be invited for the Project on the basis of the lowest financial grant
required by a Bidder for implementing the Project. The concession period shall
be pre-determined, and will be indicated in the draft Concession Agreement
forming part of the Bidding Documents. The Grant amount shall constitute the
sole criteria for evaluation of Bids. The Project shall be awarded to the Bidder
seeking the lowest Grant.
1.8 To be eligible for pre-qualification and short-listing, an Applicant shall fulfill the
technical and financial conditions of eligibility as laid down in the RFQ.
1.9 Now, Managing Director, MPWLC for and on behalf of the Government of
Madhya Pradesh, invites applications from competent and reputed firms or
consortia of firms for development, operation and maintenance of Silos and
storage of wheat through Public Private Partnership.
2. QUALIFICATION
Detailed requirements are laid down in the RFQ document. However, a brief
outline is provided below.
(A) Technical Capacity: For demonstrating technical capacity and experience
the applicant shall, over the past five financial years preceding the Application
Due Date, have:
(i) paid for, or received payments for construction of Eligible Project(s);
and/ or
Category 2; and/ or
Category 1 and/or Category 2,
such that the sum total of the above is more than Rs. 45 crore. This
would constitute the Technical Capacity. At least one fourth of the
Threshold Technical Capacity shall be from the Eligible Projects in
Category 1 and/ or Category 3.

(i) warehousing/storage sector would be deemed to include
(ii) core sector would be deemed to include roads, highways and bridges,
real estate development.
For a project to qualify as an Eligible Project under Categories 1 and 2:

(a) It should have been undertaken as a PPP project on BOT, BOLT,
(b) the entity claiming experience should have held, in the company owing
(c) the capital cost of the project should be more than Rupees 6 (six)
crore; and
(d) the entity claiming experience shall, during the last 5 (five) financial
Project.
For a project to qualify as an Eligible Project under Categories 3 and 4,
the Applicant should have paid for execution of its construction works or
received payments from its client(s) for construction works executed, fully or
partially, during the 5 (five) financial years immediately preceding the
Application Due Date, and only the payments (gross) actually made or
received, as the case may be, during such 5 (five) financial years shall qualify
for purposes of computing the Experience Score. However, payments/receipts
of less than Rupees 6 crore (Rupees six crore) shall not be reckoned as
hereunder.
(B) Financial Capacity: The Applicant shall have a minimum Net Worth of
Rupees 30 crore at the close of the preceding financial year.
3. HOW TO OBTAIN BID DOCUMENTS

The RFQ document can be obtained upon payment of Rs. 10,000 (non-
The date of submission and opening of offers is as below:-
offer
3. Bhopal & Indore 14th May, 2013 till 14th May, 2013 at
Applicants shall submit separate Applications alongwith the cost of tender
4. SUBMISSION OF DOCUMENTS
Proposals should reach the MD, MPWLC in sealed packets marked “Application
for Qualification: Location ................... – Steel Silos Project” in the manner and
form as detailed in the RFQ at the address for communication not later than the
time and date specified above. The Applications shall be opened on the date
specified for each location at 1130 hours in the presence of bidders who choose
to be present.
MPWLC will not be responsible for any delay in receiving the proposals
and reserves the right to accept/reject any or all proposals without
assigning any reason thereon.
5. ADDRESS FOR COMMUNICATION

The Chief Engineer
Office Complex, Block ‘A’,
Gautam Nagar
Phone: 0755-2600524, 2600384
Email: dubey.jk@rediffmail.com
Website: http://www.mpwarehousing.com
1. Preamble
providing food security, creating buffer stocks across the state, maintaining
the quality of stored food grains and reducing wastage. Frequent upward
revisions of the minimum support price for procurement of food grains have
led to a rise in the level of procurement over the last few years. As a result,
the state is faced with the problem of managing large stocks of food grains. It
is estimated that post-harvest losses are around 10% due to lack of modern
storage facilities. This constitutes a huge national waste in terms of food as
well as public money. It is, therefore, necessary to create additional storage
capacities on a large scale and as urgently as possible.

Government of Madhya Pradesh and its agencies (the “GoMP”) at the
Minimum Support Price (MSP) declared by the Central Government. Actual
procurement of food grains is dependent on a number of factors like MSP,
market sentiment, production, global production and prices, stocks in Central
Pool and other factors which affect prices and participation of private trade.
GoMP stores the procured grains mainly in conventional godowns and CAP
storage.
respectively. Due to high procurement of foodgrains and other crops during
the last few years and insufficient covered storage space to store the
procured stock, a substantial quantity of foodgrains has to be stored on open
platforms in covered area plinth (CAP) storage. The state has a total storage
requirement of 150.5 lakh MT for the agricultural produce procured by it
against which the available capacity is only 87.4 lakh MT.

supply of food grains to the public at affordable prices as well as for
enhancing food security. It is an important constituent of the strategy for
poverty eradication and is intended to serve as a safety net for the poor.
Governments.
foodgrains would require augmentation of modern storage facilities for
ensuring quality of the produce over a period of time. Significant investment
would be required for creation of modern storage facilities and much of it can
be mobilized through PPP.
4.2 Since storage is included / covered under Infrastructure, it is possible for Silo
projects to avail Viability Gap Funding (VGF), if so required, under GOI - VGF
Scheme as well as other incentives applicable to Infrastructure Projects. In
this regard, GoMP has decided to create 5 lakh MT of silo capacity in the
state. Standalone Silos with a capacity 25,000/ 50,000 tonnes will be
constructed, preferably with railway sidings. The Silos will be constructed

shortage of storage capacity can be significantly resolved by creating
additional storage in Madhya Pradesh which is a decentralized procurement
(DCP) state and, therefore, procures foodgrains for its own PDS consumption
rather than obtaining it from FCI. FCI is offered the excess grain after the
state has retained sufficient stocks for its own consumption.
5.2 The private entity selected through competitive bidding would be responsible
for financing, construction, operation and maintenance of Silos, scientific
management and handling of stocks and compliance with government
regulation and applicable laws. The Silos would be established with each bin
having a capacity of about 12,500 MT.
5.3 In case required, either for improving the Viability of the proposed project and
/ or for meeting the capital expenditure on silo project, a private entity would
be eligible for viability gap funding under the extant Central Government VGF
Scheme that allows grants of upto 20% of capital cost on the basis of
competitive bidding which would be paid during the construction period.
GoMP may provide an additional VGF of upto 20% of capital costs which
would be disbursed over 5 years from COD. The total VGF grant would
constitute the bidding parameter. For storage of foodgrains at the Silos, the
Concessionaire will be entitled to receive a recurring service charge which
shall be payable on adherence to performance and maintenance standards.

6.1 PPP is essentially an arrangement where the private sector partner
participates in the provision of services traditionally provided by the
government. It is usually characterized by an agreement between the
government and the private sector, with the latter undertaking to deliver an
agreed service on the payment of a unitary charge by the government, a user
charge by the beneficiaries of the service rendered and/or an upfront capital
grant. The arrangement normally involves a whole-life approach where the
private partner is responsible for both construction and operation. There is
also some degree of risk-sharing based on allocation of risks to the party best
suited to manage it.
about lack of storage capacity in the country leading to wastage of food
grains. Moreover, the storage available in the country is, in many cases, of
poor quality leading to spoiling of food grains after they have been procured
by the procurement agencies.

(i) The investments required may be too large compared to available
public resources, and private capital could, therefore, enable an
accelerated roll out of modern storage capacity;
(ii) functional efficiency of private entities would enable early delivery of
quality services;
(iii) risk of project completion and delivery of agreed outputs would be
(iv) public funds would be expended only upon delivery of agreed
outcomes; and
(v) private sector efficiency in the context of a long-term agreement is
storage.

The location of Silos will be in of Sehore, Dewas, Vidisha, Bhopal, Indore,
Ujjain, Satna, Harda, Hoshangabad and Raisen.
The private entity shall be responsible for the development and maintenance
of modern and temperature-controlled Silos. It will be responsible for cleaning
and drying, de-bagging (if required), unloading, weighing, testing, storing, re-
bagging, loading and despatching the foodgrains in accordance with the terms
of the Concession Agreement. The Authority will arrange for delivery of
foodgrains to the private entity for storage and for taking delivery of foodgrains
from the Silos.
5,000 per MT. This could vary depending upon region, location, size of
project, interest rates and other relevant considerations. To meet such higher
costs, where applicable, it is envisaged that the Central Government would
provide up to 20 per cent of the capital costs in the form of viability gap
funding, to be determined by competitive bidding, in accordance with the
extant VGF scheme. Further, GoMP would provide an additional VGF of upto
20% of capital costs, if required.
The projects will be structured on DBFOT basis. The Concession period shall
be 20 years (extendable by mutual consent for another 5 years at a time
subject to a maximum period of 10 years). For the extended concession
period, the State Government would pay storage charges on the basis of
wheat handled by the Concessionaire.
For a storage capacity of 50,000 MT, the requirement of land would be about
7 acres which would be made available by GoMP. Land would be provided on
8.6 Storage charge
Each silo bin will normally have the capacity to store not more than about
12,500 MT of foodgrains. The cost of handling shall be paid by MPWLC in the
form of a recurring storage charge which shall be stated upfront at the time of
invitation of bids. The storage charge shall be divided into two parts, viz., a
Fixed Charge which shall be payable irrespective of the quantum of
foodgrains actually handled and a Variable Charge linked directly to the
quantum of foodgrains handled.
The Variable Charge shall be linked to the quantum of foodgrains handled
and stored. A rate of Re. 0.50 per qtl. per month, as on April 1, 2012, is
proposed be paid on a monthly basis for storage and preservation of the grain
stored in the Silos. Both the Fixed and Variable Charges shall be linked to
variation in Wholesale Price Index (WPI).
Based on the actual handling of foodgrains in the Silos, separate charges
shall be payable towards associated services such as unloading, testing,
weighing, debagging, bagging and loading of food grains. In case, the
foodgrains supplied by the Authority do not meet the storage specifications,
the Concessionaire shall be entitled to reject such foodgrains and the
Authority would transport such foodgrains from the Concessionaire’s premises
at its own cost. However, the Authority shall have the option of getting the
foodgrains cleaned/ dried at the site to ensure that the foodgrains meet the
storage specifications. Payment for each of these services shall be made at
par with the charges payable by the Ministry of Food & Public Distribution, GoI
to procuring agencies for providing similar services within the State. If no such
rate is available, the same shall be determined mutually with the assistance of
the Independent Expert, substantially in line with current market prices. No
payment shall be made if any of these services is not undertaken by the
Concessionaire.
Further, in case the Silo is declared a procurement centre / mandi, the
relevant charges/commission payable to such procurement agencies in
accordance with extant instructions of GoI shall also be payable to the
Concessionaire.
payable only if the Silos conform to the relevant standards and specifications
and the foodgrains are maintained at the specified quality level.
The disbursements under this scheme shall be linked to the provision of
specified infrastructure and delivery of Key Performance Indicators. A pre-
determined system of incentives and penalties will be specified based on the
key performance indicators. The output parameters would be developed in
Agreement.
The storage charges during the operations period would be payable for a
period of 10 years in accordance with the above scheme. Upon completion of
10 years, the Authority may utilise one or more bins at its discretion. For this
purpose, the Authority shall, with prior notice of at least 6 months, reserve one
or more bins for a period not less than one year and upon such reservation,
the Authority shall be liable to payment of storage charges for such bin(s) in
accordance with the provisions of this Agreement. Accordingly, the Authority
shall be liable for payment of Storage Charges for the aforesaid period of 10
years and for the bins specifically reserved thereafter. The Concessionaire
shall be free to use the unreserved bins in such manner as he deems fit.
shall be signed between the government and the selected private entity. This
will enable the private entity to raise funds from the financial institutions for
meeting its capital expenditure. The Concession Agreements will specify the
over-arching principles while sufficient flexibility would be provided to private
entities to manage their respective Silos in conformity with the geographical
requirements of different regions. Regular monitoring would be undertaken by
the government for enforcing the provisions of the Concession Agreement.
The key features of the concession agreement would be:
purpose. Private sponsors for these Silos would, therefore, be selected on
the basis of a transparent and fair selection process that would ensure
selection of experienced and motivated entities. The selection would be a
two-stage selection process. In the first stage, private entities will be short-
listed based on proven track record or capacity to establish and manage the
facility and net worth. A private entity would be eligible for short-listing for a
50,000 MT silo if he has experience of having worked in the infrastructure
sector and a Net-worth of Rs. 30 crore. Some weightage would be accorded
for experience in the agricultural industry. This criterion may be lowered for
smaller Silos.
8.12.2 From amongst the short-listed bidders, the selection of the private entity will
be based on financial bids based on the lowest offer for viability gap funding
(VGF). There may be cases where the successful bidder does not require
any VGF and instead offers a service charge lower than the standard charge.
In such a situation, the bidder seeking the lowest service charge will be
selected.
announced before inviting applications under this scheme. The evaluation
and scoring would be carried out by the Authority. The selection criteria and
its application would be fair and transparent so that in addition to ensuring
that the best available applicants are selected, the selection process also
enhances the confidence of the civil society in this initiative.
followed for this scheme. At the end of the concession period, the Silos would
be transferred to the Authority. The concessionaire would be responsible for
financing, constructing and maintaining the physical infrastructure of the
storage and for managing it in accordance with laid down parameters and key

9.1 The Concession Agreement would be enforced by regular inspections, audit
and monitoring for quality assurance. There would be stiff penalties for
violation of the agreement or for shortfalls in key performance indicators
coupled with incentives for better performance. The key performance
indicators would include relevant benchmarks for preservation of foodgrains.
regular reporting of outcomes which will be closely monitored by the
government besides appropriate tests, inspections and surveys. Since
payment to the private entity will be based on output parameters, a close
monitoring thereof would be ensured. Detailed arrangements for regular
monitoring including online availability of data would be spelt out and enforced
as part of the concession framework.
Request For Qualification
for
Silos Projects through PPP

GLOSSARY
Applicant(s) As defined in Clause 1.2.1

Application As defined in the Disclaimer
Application Due Date As defined in Clause 1.1.5
Associate As defined in Clause 2.2.9
Authority As defined in Clause 1.1.1
Bids As defined in Clause 1.2.3
Bid Due Date As defined in Clause 1.2.3
Bid Security As defined in Clause 1.2.4
Bidders As defined in Clause 1.1.1
Bidding Documents As defined in Clause 1.2.3
Bidding Process As defined in Clause 1.2.1
Bid Stage As defined in Clause 1.2.1
BOT Build, Operate and Transfer
Concessionaire As defined in Clause 1.1.2
Concession Agreement As defined in Clause 1.1.2
Conflict of Interest As defined in Clause 2.2.1(c)
Consortium As defined in Clause 2.2.1(a)
DBFOT As defined in Clause 1.1.1
Eligible Experience As defined in Clause 3.2.1
Eligible Projects As defined in Clause 3.2.1
Estimated Project Cost As defined in Clause 1.1.4
Experience Score As defined in Clause 3.2.6
Financial Capacity As defined in Clause 2.2.2 (B)
Government Government of Madhya Pradesh
Grant As defined in Clause 1.2.8
Highest Bidder As defined in Clause 1.2.8
Jt. Bidding Agreement As defined in Clause 2.2.6 (g)
Lead Member As defined in Clause 2.2.6 (c)
LOA Letter of Award
Member Member of a Consortium
Net Worth As defined in Clause 2.2.4 (ii)
Premium As defined in Clause 1.2.8
Project As defined in Clause 1.1.1
Qualification As defined in Clause 1.2.1
Qualification Stage As defined in Clause 1.2.1
Re. or Rs. or INR Indian Rupee
RFP or Request for Proposals As defined in Clause 1.2.1
RFQ As defined in the Disclaimer
SPV As defined in Clause 2.2.6
Technical Capacity As defined in Clause 2.2.2 (A)
Threshold Technical Capacity As defined in Clause 2.2.2 (A)
The words and expressions beginning with capital letters and defined in this
document shall, unless repugnant to the context, have the meaning ascribed thereto
herein.
1
TABLE OF CONTENTS
Sl. No. Contents Page No.
Glossary
Disclaimer 4
1 Introduction
1.1 Background 6
1.2 Brief description of Bidding Process 7
1.3 Schedule of Bidding Process 9
2 Instructions to Applicants
2A General
2.1 Scope of Application 10
2.2 Eligibility of Applicants 10
2.3 Change in composition of the Consortium 16
2.4 Number of Applications and costs thereof 16
2.5 Site visit and verification of information 17
2.6 Acknowledgement by Applicant 17
2.7 Right to accept or reject any or all Applications/ Bids 17
2B Documents
2.8 Contents of the RFQ 18
2.10 Amendment of RFQ 19
2C Preparation and Submission of Application
2.11 Language 20
2.12 Format and signing of Application 20
2.13 Sealing and marking of Applications 20
2.14 Application Due Date 21
2.15 Late Applications 22
2.16 Modifications/ substitution/ withdrawal of Applications 22
2D Evaluation Process
2.17 Opening and Evaluation of Applications 22
2.18 Confidentiality 23
2.19 Tests of responsiveness 23
2
2E Qualification and Bidding
2.21 Short-listing and notification 25
2.22 Submission of Bids 25
2.23 Proprietary data 25
2.24 Correspondence with the Applicant 25
3 Criteria for Evaluation
3.1 Evaluation parameters 26
3.2 Technical Capacity for purposes of evaluation 26
3.3 Details of Experience 28
3.4 Financial information for purposes of evaluation 28
3.5 Short-listing of Applicants 29
4 Fraud and Corrupt Practices 30
5 Pre-Application Conference 32
6 Miscellaneous 33
Appendices
I Format for Application 34
Annex – I Details of Applicant 37
Annex – II Technical Capacity of Applicant 39
Annex – III Financial Capacity of Applicant 41
Annex – IV Details of Eligible Projects 43
Annex – V Statement of Legal Capacity 48
II Format for Power of Attorney for signing of Application 49
III Format for Power of Attorney for Lead Member of Consortium 51
IV Format for Joint Bidding Agreement for Consortium 54
V Guidelines of the Department of Disinvestment 61
VI Information Memorandum 63
VII List of Bid-Specific Clauses 69
3
DISCLAIMER
The information contained in this Request for Qualification document (the

“RFQ”) or subsequently provided to Applicant(s), whether verbally or in documentary
or any other form, by or on behalf of the Authority or any of its employees or
advisors, is provided to Applicant(s) on the terms and conditions set out in this RFQ
and such other terms and conditions subject to which such information is provided.
This RFQ is not an agreement and is neither an offer nor invitation by the
Authority to the prospective Applicants or any other person. The purpose of this RFQ
is to provide interested parties with information that may be useful to them in the
formulation of their application for qualification pursuant to this RFQ (the
“Application”). This RFQ includes statements, which reflect various assumptions
and assessments arrived at by the Authority in relation to the Project. Such
assumptions, assessments and statements do not purport to contain all the
information that each Applicant may require. This RFQ may not be appropriate for all
persons, and it is not possible for the Authority, its employees or advisors to consider
the investment objectives, financial situation and particular needs of each party who
reads or uses this RFQ. The assumptions, assessments, statements and information
contained in this RFQ may not be complete, accurate, adequate or correct. Each
Applicant should therefore, conduct its own investigations and analysis and should
check the accuracy, adequacy, correctness, reliability and completeness of the
assumptions, assessments, statements and information contained in this RFQ and
obtain independent advice from appropriate sources.
Information provided in this RFQ to the Applicant(s) is on a wide range of
matters, some of which may depend upon interpretation of law. The information
given is not intended to be an exhaustive account of statutory requirements and
should not be regarded as a complete or authoritative statement of law. The
Authority accepts no responsibility for the accuracy or otherwise for any
interpretation or opinion on law expressed herein.
The Authority, its employees and advisors make no representation or
warranty and shall have no liability to any person, including any Applicant or Bidder,
under any law, statute, rules or regulations or tort, principles of restitution or unjust
enrichment or otherwise for any loss, damages, cost or expense which may arise
from or be incurred or suffered on account of anything contained in this RFQ or
otherwise, including the accuracy, adequacy, correctness, completeness or reliability
of the RFQ and any assessment, assumption, statement or information contained
therein or deemed to form part of this RFQ or arising in any way with pre-
qualification of Applicants for participation in the Bidding Process.
The Authority also accepts no liability of any nature whether resulting from
negligence or otherwise howsoever caused arising from reliance of any Applicant
upon the statements contained in this RFQ.
The Authority may, in its absolute discretion but without being under any
obligation to do so, update, amend or supplement the information, assessment or
assumptions contained in this RFQ.
The issue of this RFQ does not imply that the Authority is bound to select and
short-list pre-qualified Applications for Bid Stage or to appoint the selected Bidder or
Concessionaire, as the case may be, for the Project and the Authority reserves the
right to reject all or any of the Applications or Bids without assigning any reasons
whatsoever.
4
The Applicant shall bear all its costs associated with or relating to the
preparation and submission of its Application including but not limited to preparation,
copying, postage, delivery fees, expenses associated with any demonstrations or
presentations which may be required by the Authority or any other costs incurred in
connection with or relating to its Application. All such costs and expenses will remain
with the Applicant and the Authority shall not be liable in any manner whatsoever for
the same or for any other costs or other expenses incurred by an Applicant in
preparation or submission of the Application, regardless of the conduct or outcome
of the Bidding Process.
5
1. INTRODUCTION
1.1 Background
1.1.1 The Government of Madhya Pradesh (the “Authority”) is engaged in the

creation of storage capacity for Foodgrains and as part of this endeavour, the
Authority has decided to undertake development, operation and maintenance
of Silos and storage of wheat therein (the “Project”) through Public-Private
Partnership (the “PPP”) on Design, Build, Finance, Operate and Transfer (the
"DBFOT") basis, and has decided to carry out the bidding process for
selection of a private entity as the bidder to whom the Project may be
awarded. A brief description of the project may be seen in the Information
Memorandum of the Project attached as Appendix VI. Brief particulars of the
Project are as follows:
Location$ Capacity in Indicative Project Cost

MT (In Rs. cr.)
Sehore 50,000 30
Dewas 50,000 30
Vidisha 50,000 30
Harda 50,000 30
Bhopal 50,000 30
Indore 50,000 30
Raisen 50,000 30
Ujjain 50,000 30
Satna 50,000 30
The Authority intends to pre-qualify and short-list suitable Applicants (the

“Bidders”) who will be eligible for participation in the Bid Stage, for awarding
the Project through an open competitive bidding process in accordance with
the procedure set out herein.
1.1.2 The selected Bidder, who is either a company incorporated under the
Companies Act, 1956 or undertakes to incorporate as such prior to execution
of the concession agreement (the “Concessionaire”) shall be responsible for
designing, engineering, financing, procurement, construction, operation and
maintenance of the Project under and in accordance with the provisions of a
long - term concession agreement (the “Concession Agreement”) to be
entered into between the Concessionaire and the Authority in the form
provided by the Authority as part of the Bidding Documents pursuant hereto.
$
RFQ Application shall be submitted for each location separately.
6
1.1.3 The scope of work will broadly include designing and construction of
integrated Storage facility for storage of Foodgrains in Silos and the operation
and maintenance thereof.
1.1.4 Indicative capital cost of the Project (the “Estimated Project Cost”) will be
revised and specified in the Bidding Documents of the Project. The
assessment of actual costs, however, will have to be made by the Bidders.
1.1.5 The Authority shall receive Applications pursuant to this RFQ in accordance
with the terms set forth herein as modified, altered, amended and clarified
from time to time by the Authority, and all Applications shall be prepared and
submitted in accordance with such terms on or before the date specified in
Clause 1.3 for submission of Applications (the “Application Due Date”).
1.2 Brief description of Bidding Process

1.2.1 The Authority has adopted a two-stage process (collectively referred to as the
"Bidding Process") for selection of the bidder for award of the Project. The
first stage (the "Qualification Stage") of the process involves qualification
(the “Qualification”) of interested parties/ consortia who make an Application
in accordance with the provisions of this RFQ (the "Applicant", which
expression shall, unless repugnant to the context, include the Members of the
Consortium). Prior to making an Application, the Applicant shall pay to the
Authority a sum of Rs 10, 000 (Rupees ten thousand) as the cost of the RFQ
process$. At the end of this stage, the Authority expects to announce a short-
list of up to 6 (six) suitable pre-qualified Applicants who shall be eligible for
participation in the second stage of the Bidding Process (the "Bid Stage")
comprising Request for Proposals (the “Request for Proposals” or “RFP”).
Government of India has issued guidelines (see Appendix-V) for
qualification of bidders seeking to acquire stakes in any public sector
enterprise through the process of disinvestment. These guidelines shall apply
mutatis mutandis to this Bidding Process. The Authority shall be entitled to
disqualify an Applicant in accordance with the aforesaid guidelines at any
stage of the Bidding Process. Applicants must satisfy themselves that they
are qualified to bid, and should give an undertaking to this effect in the form at
Appendix-I.
1.2.2 In the Qualification Stage, Applicants would be required to furnish all the
information specified in this RFQ. Only those Applicants that are pre-qualified
and short-listed by the Authority shall be invited to submit their Bids for the
Project. The Authority is likely to provide a comparatively short time span for
submission of the Bids for the Project. The Applicants are, therefore, advised
to visit the site and familiarise themselves with the Project.
1.2.3 In the Bid Stage, the Bidders will be called upon to submit their financial offers
(the "Bids") in accordance with the RFP and other documents to be provided
by the Authority (collectively the "Bidding Documents"). The Bidding
Documents for the Project will be provided to every Bidder on payment of Rs.
30,000 (Rs. thirty thousand only)$.The Bid shall be valid for a period of not
less than 120 days from the date specified in Clause 1.3 for submission of
bids (the “Bid Due Date”).
$
$
The actual amount will be indicated in the RFP.
7
1.2.4 In terms of the RFP, a Bidder will be required to deposit, along with its Bid, a
bid security of Rs. 50 (fifty) lakh (the "Bid Security"), refundable no later than
60 (sixty) days from the Bid Due Date, except in the case of the selected
Bidder whose Bid Security shall be retained till it has provided a Performance
Security under the Concession Agreement. The Bidders will have an option to
provide Bid Security in the form of a demand draft or a bank guarantee
acceptable to the Authority and in such event, the validity period of the
demand draft or bank guarantee, as the case may be, shall not be less than
180 (one hundred and eighty) days from the Bid Due Date, inclusive of a
claim period of 60 (sixty) days, and may be extended as may be mutually
agreed between the Authority and the Bidder from time to time. The Bid shall
be summarily rejected if it is not accompanied by the Bid Security.
1.2.5 Generally, the Highest Bidder shall be the selected Bidder. The remaining
Bidders shall be kept in reserve and may, in accordance with the process
specified in the RFP, be invited to match the Bid submitted by the Highest
Bidder in case such Highest Bidder withdraws or is not selected for any
reason. In the event that none of the other Bidders match the Bid of the
Highest Bidder, the Authority may, in its discretion, invite fresh Bids from the
remaining Bidders or annul the Bidding Process, as the case may be.
1.2.6 During the Bid Stage, Bidders are invited to examine the Project in greater
detail, and to carry out, at their cost, such studies as may be required for
submitting their respective Bids for award of the concession including
implementation of the Project.
1.2.7 As part of the Bidding Documents, the Authority will provide a draft
Concession Agreement and feasibility report prepared by the Authority’s
with it.
1.2.8 Bids will be invited for the Project on the basis of the lowest financial grant
(the "Grant") required by a Bidder for implementing the Project. A Bidder may,
instead of seeking a Grant, offer to pay a premium in the form of revenue
share and/ or upfront payment, as the case may be, (the "Premium") to the
Authority for award of the concession. The concession period shall be pre-
determined, and will be indicated in the draft Concession Agreement forming
part of the Bidding Documents. The Grant/ Premium amount shall constitute
the sole criteria for evaluation of Bids. The Project shall be awarded to the
Bidder quoting the highest Premium, and in the event that no Bidder offers a
Premium, then to the Bidder seeking the lowest Grant.
In this RFQ, the term “Highest Bidder” shall mean the Bidder who is
offering the highest Premium, and where no Bidder is offering a Premium, the
Bidder seeking the lowest Grant shall be the Highest Bidder.
1.2.9 The Concessionaire shall be entitled to receive pre-determined charges from
the Authority for service rendered to it by way of handling and storage of
Foodgrains.
1.2.10 Other details of the process to be followed at the Bid Stage and the terms
thereof will be spelt out in the Bidding Documents.
1.2.11 Any queries or request for additional information concerning this RFQ shall be
submitted in writing or by fax and e-mail to the officer designated in Clause
8
2.13.3 below. The envelopes/ communications shall clearly bear the following
identification/ title:
"Queries/ Request for Additional Information: RFQ for ............ Silos Project”.
1.3 Schedule of Bidding Process
The Authority shall endeavour to adhere to the following schedule:

Qualification Stage
3. Authority response to queries latest April 16, 2013
by
5. Announcement of short-list Within 15 days of
Application Due Date

2. Last date for receiving queries June 21, 2013
3. Pre-Bid meeting - 1 June 28, 2013
4. Authority response to queries latest July 04, 2013
by
6. Opening of Bids On Bid Due Date
7. Letter of Award (LOA) Within 30 days of Bid Due
Date
8. Validity of Bids 120 days of Bid Due Date
9. Signing of Concession Agreement Within 30 days of award
of LOA
9
2. INSTRUCTIONS TO APPLICANTS
A. GENERAL
2.1 Scope of Application
2.1.1 The Authority wishes to receive Applications for Qualification in order to short-
list experienced and capable Applicants for the Bid Stage.
2.1.2 Short-listed Applicants may be subsequently invited to submit the Bids for the
Project.
2.2 Eligibility of Applicants
2.2.1 For determining the eligibility of Applicants for their pre-qualification
hereunder, the following shall apply:
(a) The Applicant for pre-qualification may be a single entity or a group of
entities (the “Consortium”), coming together to implement the Project.
However, no applicant applying individually or as a member of a Consortium,
as the case may be, can be member of another Applicant. The term Applicant
used herein would apply to both a single entity and a Consortium.
(b) An Applicant may be a natural person, private entity, or any combination of
them with a formal intent to enter into an agreement or under an existing
agreement to form a Consortium. A Consortium shall be eligible for
consideration subject to the conditions set out in Clause 2.2.6 below.
(c) An Applicant shall not have a conflict of interest (the “Conflict of Interest”)
that affects the Bidding Process. Any Applicant found to have a Conflict of
Interest shall be disqualified. An Applicant shall be deemed to have a Conflict
of Interest affecting the Bidding Process, if:
(i) the Applicant, its Member or Associate (or any constituent thereof) and
any other Applicant, its Member or any Associate thereof (or any
constituent thereof) have common controlling shareholders or other
ownership interest; provided that this disqualification shall not apply in
cases where the direct or indirect shareholding of an Applicant, its
Member or an Associate thereof (or any shareholder thereof having a
shareholding of more than 5 per cent of the paid up and subscribed
share capital of such Applicant, Member or Associate, as the case may
be) in the other Applicant, its Member or Associate is less than 5 per
cent of the subscribed and paid up equity share capital thereof;
provided further that this disqualification shall not apply to any
ownership by a bank, insurance company, pension fund or a public
financial institution referred to in section 4A of the Companies Act,
1956. For the purposes of this Clause 2.2.1(c), indirect shareholding
held through one or more intermediate persons shall be computed as
follows: (aa) where any intermediary is controlled by a person through
management control or otherwise, the entire shareholding held by such
controlled intermediary in any other person (the “Subject Person”)
shall be taken into account for computing the shareholding of such
controlling person in the Subject Person; and (bb) subject always to
sub-clause (aa) above, where a person does not exercise control over
an intermediary, which has shareholding in the Subject Person, the
10
computation of indirect shareholding of such person in the Subject
Person shall be undertaken on a proportionate basis; provided,
however, that no such shareholding shall be reckoned under this sub-
clause (bb) if the shareholding of such person in the intermediary is
less than 26% of the subscribed and paid up equity shareholding of
such intermediary; or
(ii) a constituent of such Applicant is also a constituent of another
Applicant; or
(iii) such Applicant, or any Associate thereof receives or has received any
direct or indirect subsidy, grant, concessional loan or subordinated debt
from any other Applicant, or any Associate thereof or has provided any
such subsidy, grant, concessional loan or subordinated debt to any
other Applicant, its Member or any Associate thereof; or
(iv) such Applicant has the same legal representative for purposes of this
Application as any other Applicant; or
(v) such Applicant, or any Associate thereof has a relationship with
another Applicant, or any Associate thereof, directly or through
common third party/ parties, that puts either or both of them in a
position to have access to each other’s information about, or to
influence the Application of either or each other; or
(vi) such Applicant, or any Associate thereof has participated as a
consultant to the Authority in the preparation of any documents, design
or technical specifications of the Project.
(d) An Applicant shall be liable for disqualification if any legal, financial or
technical adviser of the Authority in relation to the Project is engaged by the
Applicant, its Member or any Associate thereof, as the case may be, in any
manner for matters related to or incidental to the Project. For the avoidance of
doubt, this disqualification shall not apply where such adviser was engaged by
the Applicant, its Member or Associate in the past but its assignment expired
or was terminated 6 (six) months prior to the date of issue of this RFQ. Nor
will this disqualification apply where such adviser is engaged after a period of
3 (three) years from the date of commercial operation of the Project.
Explanation: In case an Applicant is a Consortium, then the term Applicant as
used in this Clause 2.2.1, shall include each Member of such Consortium.
2.2.2 To be eligible for pre-qualification and short-listing, an Applicant shall fulfil the
following conditions of eligibility:
(B) Technical Capacity: For demonstrating technical capacity and experience

(the “Technical Capacity”), the Applicant shall, over the past 5 (five)
financial years preceding the Application Due Date, have:
(i) paid for, or received payments for, construction of Eligible Project(s);
and/ or

Category 2 specified in Clause 3.2.1; and/ or

Category 1 and/or Category 2 specified in Clause 3.2.1,
11
such that the sum total of the above is more than Rs. 45 crore (Rupees
forty five crore) (the “Threshold Technical Capacity”).
Provided that at least one fourth of the Threshold Technical Capacity

shall be from the Eligible Projects in Category 1 and/ or Category 3
(B) Financial Capacity: The Applicant shall have a minimum Net Worth (the
“Financial Capacity”) of Rupees 30 crore (Rupees thirty crore) at the close
of the preceding financial year.
In case of a Consortium, the combined technical capacity and net worth of

those Members, who have and shall continue to have an equity share of at
least 26% (twenty six per cent) each in the SPV, should satisfy the above
conditions of eligibility; provided that each such Member shall, for a period of
2 (two) years from the date of commercial operation of the Project, hold equity
share capital not less than: (i) 26% (twenty six per cent) of the subscribed and
paid up equity of the SPV; and (ii) 5% (five per cent) of the Total Project Cost
specified in the Concession Agreement£.
2.2.3 O&M: The Applicant shall undertake O&M through qualified and
experienced staff of its own or it shall for a period of at least 3 (three) years
from the date of commercial operation of the Project, enter into an agreement
for entrusting its operation & maintenance (O&M) obligations to an entity
having the aforesaid experience, failing which the Concession Agreement
shall be liable to termination.
2.2.4 The Applicants shall enclose with its application, to be submitted as per the
format at Appendix-I, complete with its Annexes, the following:
(i) Certificate(s) from its statutory auditors$ or the concerned client(s)

stating the payments made/ received or works commissioned, as the
case may be, during the past 5 years in respect of the projects
specified in paragraph 2.2.2 (A) above. In case a particular job/ contract
has been jointly executed by the Applicant (as part of a consortium), it
should further support its claim for the share in work done for that
particular job/ contract by producing a certificate from its statutory
auditor or the client; and
(ii) certificate(s) from its statutory auditors specifying the net worth of the
Applicant, as at the close of the preceding financial year, and also
specifying that the methodology adopted for calculating such net worth
£
The Authority may, in its discretion, impose further obligations in the Concession Agreement, but such
obligations should provide sufficient mobility for partial divestment of equity without compromising the
interests of the Project.
$
In case duly certified audited annual financial statements containing explicitly the requisite details are
provided, a separate certification by statutory auditors would not be necessary in respect of Clause 2.2.4 (i). In
12
conforms to the provisions of this Clause 2.2.4 (ii). For the purposes of
this RFQ, net worth (the “Net Worth”) shall mean the sum of
subscribed and paid up equity and reserves from which shall be
deducted the sum of revaluation reserves, miscellaneous expenditure
not written off and reserves not available for distribution to equity share
holders.
2.2.5 The Applicant should submit a Power of Attorney as per the format at
Appendix-II, authorising the signatory of the Application to commit the
Applicant. In the case of a Consortium, the Members should submit a Power
of Attorney in favour of the Lead Member as per format at Appendix-III.
2.2.6 Where the Applicant is a single entity, it may be required to form an

appropriate Special Purpose Vehicle, incorporated under the Indian
Companies Act, 1956 (the “SPV”), to execute the Concession Agreement and
implement the Project. In case the Applicant is a Consortium, it shall, in
addition to forming an SPV, comply with the following additional requirements:
(a) Number of members in a consortium shall not exceed 6 (six), but
information sought in the Application may be restricted to 4 (four)
members in the order of their equity contribution;
(b) subject to the provisions of sub-clause (a) above, the Application
should contain the information required for each member of the
Consortium;
(c) members of the Consortium shall nominate one member as the lead
member (the “Lead Member”), who shall have an equity share holding
of at least 26% (twenty six per cent) of the paid up and subscribed
equity of the SPV. The nomination(s) shall be supported by a Power of
Attorney, as per the format at Appendix-III, signed by all the other
members of the Consortium;
(d) the Application should include a brief description of the roles and
responsibilities of individual members, particularly with reference to
financial, technical and O&M obligations;
(e) an individual Applicant cannot at the same time be member of a
Consortium applying for pre-qualification. Further, a member of a
particular Applicant Consortium cannot be member of any other
Applicant Consortium applying for pre-qualification;
(f) the members of a Consortium shall form an appropriate SPV to
execute the Project, if awarded to the Consortium;
(g) members of the Consortium shall enter into a binding Joint Bidding
Agreement, substantially in the form specified at Appendix-IV (the “Jt.
Bidding Agreement”), for the purpose of making the Application and
submitting a Bid in the event of being short-listed. The Jt. Bidding
Agreement, to be submitted along with the Application, shall, inter alia:
(i) convey the intent to form an SPV with shareholding/ ownership
equity commitment(s) in accordance with this RFQ, which would
enter into the Concession Agreement and subsequently perform
all the obligations of the Concessionaire in terms of the
Concession Agreement, in case the concession to undertake the
Project is awarded to the Consortium;
13
(ii) clearly outline the proposed roles and responsibilities, if any, of
each member;
(iii) commit the minimum equity stake to be held by each member;
(iv) commit that each of the members, whose experience will be
evaluated for the purposes of this RFQ, shall subscribe to 26%
(twenty six per cent) or more of the paid up and subscribed
equity of the SPV and shall further commit that each such
member shall, for a period of 2 (two) years from the date of
commercial operation of the Project, hold equity share capital
not less than: (i) 26% (twenty six per cent) of the subscribed and
paid up equity share capital of the SPV; and (ii) 5% (five per
cent) of the Total Project Cost specified in the Concession
Agreement;
(v) members of the Consortium undertake that they shall
collectively hold at least 51% (fifty one per cent) of the
subscribed and paid up equity of the SPV at all times until the
second anniversary of the commercial operation date of the
Project; and
(vi) include a statement to the effect that all members of the
Consortium shall be liable jointly and severally for all obligations
of the Concessionaire in relation to the Project until the Financial
Close of the Project is achieved in accordance with the
Concession Agreement; and
(h) except as provided under this RFQ and the Bidding Documents, there
shall not be any amendment to the Jt. Bidding Agreement without the
prior written consent of the Authority.
2.2.7 Any entity which has been barred by the Central/ State Government, or any
entity controlled by it, from participating in any project (BOT or otherwise), and
the bar subsists as on the date of Application, would not be eligible to submit
an Application, either individually or as member of a Consortium.
2.2.8 An Applicant including any Consortium Member or Associate should, in the
last 3 (three) years, have neither failed to perform on any contract, as
evidenced by imposition of a penalty by an arbitral or judicial authority or a
judicial pronouncement or arbitration award against the Applicant, Consortium
Member or Associate, as the case may be, nor has been expelled from any
project or contract by any public entity nor have had any contract terminated
any public entity for breach by such Applicant, Consortium Member or
Associate .
2.2.9 In computing the Technical Capacity and Net Worth of the Applicant/
Consortium Members under Clauses 2.2.2, 2.2.4 and 3.2, the Technical
Capacity and Net Worth of their respective Associates would also be eligible
hereunder.
For purposes of this RFQ, Associate means, in relation to the Applicant/
Consortium Member, a person who controls, is controlled by, or is under the
common control with such Applicant/ Consortium Member (the “Associate”).
As used in this definition, the expression “control” means, with respect to a
person which is a company or corporation, the ownership, directly or
indirectly, of more than 50% (fifty per cent) of the voting shares of such
person, and with respect to a person which is not a company or corporation,
14
the power to direct the management and policies of such person by operation
of law.
2.2.10 The following conditions shall be adhered to while submitting an Application:
(a) Applicants should attach clearly marked and referenced continuation
sheets in the event that the space provided in the prescribed forms in
the Annexes is insufficient. Alternatively, Applicants may format the
prescribed forms making due provision for incorporation of the
requested information;
(b) information supplied by an Applicant (or other constituent Member if
the Applicant is a Consortium) must apply to the Applicant, Member or
Associate named in the Application and not, unless specifically
requested, to other associated companies or firms. Invitation to submit
Bids will be issued only to Applicants whose identity and/ or
constitution is identical to that at pre-qualification;
(c) in responding to the pre-qualification submissions, Applicants should
demonstrate their capabilities in accordance with Clause 3.1 below;
and
(d) in case the Applicant is a Consortium, each Member should
substantially satisfy the pre-qualification requirements to the extent
specified herein.
2.2.11 While Qualification is open to persons from any country, the following
provisions shall apply:
(a) Where, on the date of the Application, not less than 15% (fifteen per
cent) of the aggregate issued, subscribed and paid up equity share
capital in an Applicant or its Member is held by persons resident
outside India or where an Applicant or its Member is controlled by
persons resident outside India; or
(b) if at any subsequent stage after the date of the Application, there is an
acquisition of not less than 15% (fifteen per cent) of the aggregate
issued, subscribed and paid up equity share capital or control, by
persons resident outside India, in or of the Applicant or its Member;
then the Qualification of such Applicant or in the event described in sub
clause (b) above, the continued Qualification of the Applicant shall be subject
to approval of the Authority from national security and public interest
perspective. The decision of the Authority in this behalf shall be final and
conclusive and binding on the Applicant.
The holding or acquisition of equity or control, as above, shall include direct or

indirect holding/ acquisition, including by transfer, of the direct or indirect legal
or beneficial ownership or control, by persons acting for themselves or in
concert and in determining such holding or acquisition, the Authority shall be
guided by the principles, precedents and definitions contained in the
Securities and Exchange Board of India (Substantial Acquisition of Shares
and Takeovers) Regulations, 1997, or any substitute thereof, as in force on
the date of such acquisition.
The Applicant shall promptly inform the Authority of any change in the
shareholding, as above, and failure to do so shall render the Applicant liable
for disqualification from the Bidding Process.
15
2.2.12 Notwithstanding anything to the contrary contained herein, in the event that
the Application Due Date falls within three months of the closing of the latest
financial year of an Applicant, it shall ignore such financial year for the
purposes of its Application and furnish all its information and certification with
reference to the 5 (five) years or 1 (one) year, as the case may be, preceding
its latest financial year. For the avoidance of doubt, financial year shall, for the
purposes of an Application hereunder, mean the accounting year followed by
the Applicant in the course of its normal business.
2.3 Change in composition of the Consortium
2.3.1 Change in the composition of a Consortium will not be permitted by the

Authority during the Qualification Stage.
2.3.2 Where the Bidder is a Consortium, change in the composition of a Consortium

may be permitted by the Authority during the Bid Stage, only where:
(a) the application for such change is made no later than 15 (fifteen) days
prior to the Bid Due Date;
(b) the Lead Member continues to be the Lead Member of the Consortium;
(c) the substitute is at least equal, in terms of Technical Capacity, to the

Consortium Member who is sought to be substituted and the modified
Consortium shall continue to meet the pre-qualification and short-listing
criteria for Applicants; and
(d) the new Member(s) expressly adopt(s) the Application already made
on behalf of the Consortium as if it were a party to it originally, and is
not an Applicant/Member/Associate of any other Consortium bidding
for this Project.
2.3.3 Approval for change in the composition of a Consortium shall be at the sole
discretion of the Authority and must be approved by the Authority in writing.
2.3.4 The modified/ reconstituted Consortium shall submit a revised Jt. Bidding
Agreement before the Bid Due Date.
2.3.5 Notwithstanding anything to the contrary contained in sub-clause (c) (i) of

Clause 2.2.1, an Applicant may, within 10 (ten) days after the Application Due
Date, remove from its Consortium any Member who suffers from a Conflict of
Interest, and such removal shall be deemed to cure the Conflict of Interest
arising in respect thereof.
2.4 Number of Applications and costs thereof
2.4.1 No Applicant shall submit more than one Application for each location. An
applicant applying individually or as a member of a Consortium shall not be
entitled to submit another application either individually or as a member of any
Consortium, as the case may be.
16
2.4.2 The Applicants shall be responsible for all of the costs associated with the
preparation of their Applications and their participation in the Bid Process. The
Authority will not be responsible or in any way liable for such costs, regardless
of the conduct or outcome of the Bidding Process.
2.5 Site visit and verification of information
Applicants are encouraged to submit their respective Applications after visiting

the Project site and ascertaining for themselves the site conditions, traffic,
location, surroundings, climate, availability of power, water and other utilities
for construction, access to site, handling and storage of materials, weather
data, applicable laws and regulations, and any other matter considered
relevant by them.
2.6 Acknowledgement by Applicant
2.6.1 It shall be deemed that by submitting the Application, the Applicant has:
(a) made a complete and careful examination of the RFQ;
(b) received all relevant information requested from the Authority;
(c) accepted the risk of inadequacy, error or mistake in the information

provided in the RFQ or furnished by or on behalf of the Authority
relating to any of the matters referred to in Clause 2.5 above; and
(d) agreed to be bound by the undertakings provided by it under and in

terms hereof.
2.6.2 The Authority shall not be liable for any omission, mistake or error in respect
of any of the above or on account of any matter or thing arising out of or
concerning or relating to the RFQ or the Bidding Process, including any error
or mistake therein or in any information or data given by the Authority.
2.7 Right to accept or reject any or all Applications/ Bids
2.7.1 Notwithstanding anything contained in this RFQ, the Authority reserves the
right to accept or reject any Application and to annul the Bidding Process and
reject all Applications/ Bids, at any time without any liability or any obligation
for such acceptance, rejection or annulment, and without assigning any
reasons therefor. In the event that the Authority rejects or annuls all the Bids,
it may, in its discretion, invite all eligible Bidders to submit fresh Bids
hereunder.
2.7.2 The Authority reserves the right to reject any Application and/ or Bid if:
(a) at any time, a material misrepresentation is made or uncovered, or
(b) the Applicant does not provide, within the time specified by the
Authority, the supplemental information sought by the Authority for
evaluation of the Application.
17
If the Applicant/Bidder is a Consortium, then the entire Consortium may be
disqualified/ rejected. If such disqualification/ rejection occurs after the Bids
have been opened and the Highest Bidder gets disqualified/ rejected, then the
Authority reserves the right to:
(i) invite the remaining Bidders to match the Highest Bidder/ submit their
Bids in accordance with the RFP; or
(ii) take any such measure as may be deemed fit in the sole discretion of
the Authority, including annulment of the Bidding Process.
2.7.3 In case it is found during the evaluation or at any time before signing of the
Concession Agreement or after its execution and during the period of
subsistence thereof, including the concession thereby granted by the
Authority, that one or more of the pre-qualification conditions have not been
met by the Applicant, or the Applicant has made material misrepresentation or
has given any materially incorrect or false information, the Applicant shall be
disqualified forthwith if not yet appointed as the Concessionaire either by
issue of the LOA or entering into of the Concession Agreement, and if the
Applicant/SPV has already been issued the LOA or has entered into the
Concession Agreement, as the case may be, the same shall, notwithstanding
anything to the contrary contained therein or in this RFQ, be liable to be
terminated, by a communication in writing by the Authority to the Applicant,
without the Authority being liable in any manner whatsoever to the Applicant
and without prejudice to any other right or remedy which the Authority may
have under this RFQ, the Bidding Documents, the Concession Agreement or
under applicable law.
2.7.4 The Authority reserves the right to verify all statements, information and
documents submitted by the Applicant in response to the RFQ. Any such
verification or lack of such verification by the Authority shall not relieve the
Applicant of its obligations or liabilities hereunder nor will it affect any rights of
the Authority thereunder.
B. DOCUMENTS
2.8 Contents of the RFQ

This RFQ comprises the disclaimer set forth hereinabove, the contents as
listed below, and will additionally include any Addenda issued in accordance
with Clause 2.10.
Invitation for Qualification
Section 1. Introduction
Section 2. Instructions to Applicants
Section 3. Criteria for Evaluation
Section 4. Fraud & Corrupt Practices
Section 5. Pre Application Conference
Section 6. Miscellaneous
18
Appendices
I. Letter comprising the Application

II. Power of Attorney for signing of Application
III. Power of Attorney for Lead Member of Consortium
IV. Joint Bidding Agreement for Consortium
V. Guidelines of the Department of Disinvestment
VI. Information Memorandum
VII. List of Bid-specific clauses
2.9 Clarifications
2.9.1 Applicants requiring any clarification on the RFQ may notify the Authority in
writing or by fax and e-mail in accordance with Clause 1.2.11. They should
send in their queries before the date specified in the schedule of Bidding
Process contained in Clause 1.3. The Authority shall endeavour to respond to
the queries within the period specified therein, but no later than 10 (ten) days
prior to the Application Due Date. The responses will be sent by fax and/or e-
mail. The Authority will forward all the queries and its responses thereto, to all
purchasers of the RFQ without identifying the source of queries.
2.9.2 The Authority shall endeavour to respond to the questions raised or

clarifications sought by the Applicants. However, the Authority reserves the
right not to respond to any question or provide any clarification, in its sole
discretion, and nothing in this Clause shall be taken or read as compelling or
requiring the Authority to respond to any question or to provide any
clarification.
2.9.3 The Authority may also on its own motion, if deemed necessary, issue
interpretations and clarifications to all Applicants. All clarifications and
interpretations issued by the Authority shall be deemed to be part of the RFQ.
Verbal clarifications and information given by Authority or its employees or
representatives shall not in any way or manner be binding on the Authority.
2.10 Amendment of RFQ
2.10.1 At any time prior to the deadline for submission of Application, the Authority
may, for any reason, whether at its own initiative or in response to
clarifications requested by an Applicant, modify the RFQ by the issuance of
Addenda.
2.10.2 Any Addendum thus issued will be sent in writing to all those who have
purchased the RFQ.
2.10.3 In order to afford the Applicants a reasonable time for taking an Addendum
into account, or for any other reason, the Authority may, in its sole discretion,
extend the Application Due Date.$
$
While extending the Application Due Date on account of an addendum, the Authority shall have due regard for
the time required by bidders to address the amendments specified therein. In the case of significant amendments,
19
C. PREPARATION AND SUBMISSION OF APPLICATION
2.11 Language
The Application and all related correspondence and documents in relation to

the Bidding Process shall be in English language. Supporting documents and
printed literature furnished by the Applicant with the Application may be in any
other language provided that they are accompanied by translations of all the
pertinent passages in the English language, duly authenticated and certified
by the Applicant. Supporting materials, which are not translated into English,
may not be considered. For the purpose of interpretation and evaluation of the
Application, the English language translation shall prevail.
2.12 Format and signing of Application
2.12.1 The Applicant shall provide all the information sought under this RFQ. The
Authority will evaluate only those Applications that are received in the required
formats and complete in all respects. Incomplete and /or conditional
Applications shall be liable to rejection.
2.12.2 The Applicant shall prepare 1 (one) original set of the Application (together
with originals/ copies of documents required to be submitted along therewith
pursuant to this RFQ) and clearly marked “ORIGINAL”. In addition, the
Applicant shall submit 1 (one) copy of the Application, alongwith documents
required to be submitted along therewith pursuant to this RFQ, marked
“COPY”. The Applicant shall also provide 2 (two) soft copies on Compact Disc
(CD). In the event of any discrepancy between the original and the copy, the
original shall prevail.
2.12.3 The Application and its copy shall be typed or written in indelible ink and
signed by the authorised signatory of the Applicant who shall also initial each
page in blue ink. In case of printed and published documents, only the cover
shall be initialled. All the alterations, omissions, additions or any other
amendments made to the Application shall be initialled by the person(s)
signing the Application. The Application shall contain page numbers and shall
be bound together in hard cover.
2.13 Sealing and Marking of Applications
2.13.1 The Applicant shall submit the Application in the format specified at Appendix-
I, together with the documents specified in Clause 2.13.2, and seal it in an
envelope and mark the envelope as “APPLICATION”. The Applicant shall seal
the original and the copy of the Application, together with their respective
enclosures, in separate envelopes duly marking the envelopes as
“ORIGINAL” and “COPY”. The envelopes shall then be sealed in an outer
envelope which shall also be marked in accordance with Clauses 2.13.2 and
2.13.3.
at least 15 (fifteen) days shall be provided between the date of amendment and the Application Due Date, and in
the case of minor amendments, at least 7 (seven) days shall be provided.
20
2.13.2 Each envelope shall contain:
(i) Application in the prescribed format (Appendix-I) along with Annexes

and supporting documents;
(ii) Power of Attorney for signing the Application as per the format at
Appendix-II;
(iii) if applicable, the Power of Attorney for Lead Member of Consortium as
per the format at Appendix-III;
(iv) copy of the Jt. Bidding Agreement, in case of a Consortium,
substantially in the format at Appendix-IV;
(v) copy of Memorandum and Articles of Association, if the Applicant is a

body corporate, and if a partnership then a copy of its partnership
deed; and
(vi) copies of Applicant’s duly audited balance sheet and profit and loss
account for the preceding five years.
Each of the envelopes shall clearly bear the following identification:
“Application for Qualification: ................... Silo Project”
and shall clearly indicate the name and address of the Applicant. In addition,
the Application Due Date should be indicated on the right hand corner of each
of the envelopes.
2.13.3 Each of the envelopes shall be addressed to:
ATTN. OF: Mr J.K. Dubey

DESIGNATION: Chief Engineer
ADDRESS: M.P. Warehousing & Logistics Corporation
Office Complex, Block ‘A’,Gautam Nagar
FAX NO: 0755-2600524, 2600384
E-MAIL ADDRESS: dubey.jk@rediffmail.com
2.13.4 If the envelopes are not sealed and marked as instructed above, the Authority
assumes no responsibility for the misplacement or premature opening of the
contents of the Application and consequent losses, if any, suffered by the
Applicant.
2.13.5 Applications submitted by fax, telex, telegram or e-mail shall not be

entertained and shall be rejected.
2.14 Application Due Date
2.14.1 Applications should be submitted before 1100 hours IST on the Application
Due Date, at the address provided in Clause 2.13.3 in the manner and form
21
as detailed in this RFQ. A receipt thereof should be obtained from the person
2.14.2 The Authority may, in its sole discretion, extend the Application Due Date by
issuing an Addendum in accordance with Clause 2.10 uniformly for all
Applicants.
2.15 Late Applications
Applications received by the Authority after the specified time on the

Application Due Date shall not be eligible for consideration and shall be
summarily rejected.
2.16 Modifications/ substitution/ withdrawal of Applications
2.16.1 The Applicant may modify, substitute or withdraw its Application after
submission, provided that written notice of the modification, substitution or
withdrawal is received by the Authority prior to the Application Due Date. No
Application shall be modified, substituted or withdrawn by the Applicant on or
after the Application Due Date.
2.16.2 The modification, substitution or withdrawal notice shall be prepared, sealed,

marked, and delivered in accordance with Clause 2.13, with the envelopes
being additionally marked “MODIFICATION”, “SUBSTITUTION” or
“WITHDRAWAL”, as appropriate.
2.16.3 Any alteration/ modification in the Application or additional information

supplied subsequent to the Application Due Date, unless the same has been
expressly sought for by the Authority, shall be disregarded.
D. EVALUATION PROCESS
2.17 Opening and Evaluation of Applications
2.17.1 The Authority shall open the Applications at 1130 hours IST on the Application
Due Date, at the place specified in Clause 2.13.3 and in the presence of the
Applicants who choose to attend.
2.17.2 Applications for which a notice of withdrawal has been submitted in

accordance with Clause 2.16 shall not be opened.
2.17.3 The Authority will subsequently examine and evaluate Applications in

accordance with the provisions set out in Section 3.
2.17.4 Applicants are advised that pre-qualification of Applicants will be entirely at

the discretion of the Authority. Applicants will be deemed to have understood
and agreed that no explanation or justification on any aspect of the Bidding
Process or selection will be given.
22
2.17.5 Any information contained in the Application shall not in any way be construed
as binding on the Authority, its agents, successors or assigns, but shall be
binding against the Applicant if the Project is subsequently awarded to it on
the basis of such information.
2.17.6 The Authority reserves the right not to proceed with the Bidding Process at
any time without notice or liability and to reject any or all Application(s) without
assigning any reasons.
2.17.7 If any information furnished by the Applicant is found to be incomplete, or

contained in formats other than those specified herein, the Authority may, in
its sole discretion, exclude the relevant project from computation of the
Eligible Score of the Applicant.
2.17.8 In the event that an Applicant claims credit for an Eligible Project, and such
claim is determined by the Authority as incorrect or erroneous, the Authority
shall reject such claim and exclude the same from computation of the Eligible
Score, and may also, while computing the aggregate Experience Score of the
Applicant, make a further deduction equivalent to the claim rejected
hereunder. Where any information is found to be patently false or amounting
to a material misrepresentation, the Authority reserves the right to reject the
Application and/ or Bid in accordance with the provisions of Clauses 2.7.2 and
2.7.3.
2.18 Confidentiality
Information relating to the examination, clarification, evaluation, and

recommendation for the short-listed pre-qualified Applicants shall not be
disclosed to any person who is not officially concerned with the process or is
not a retained professional advisor advising the Authority in relation to, or
matters arising out of, or concerning the Bidding Process. The Authority will
treat all information, submitted as part of Application, in confidence and will
require all those who have access to such material to treat the same in
confidence. The Authority may not divulge any such information unless it is
directed to do so by any statutory entity that has the power under law to
require its disclosure or is to enforce or assert any right or privilege of the
statutory entity and/ or the Authority or as may be required by law or in
connection with any legal process.
2.19 Tests of responsiveness
2.19.1 Prior to evaluation of Applications, the Authority shall determine whether each
Application is responsive to the requirements of the RFQ. An Application shall
be considered responsive only if:
(b) it is received by the Application Due Date including any extension

thereof pursuant to Clause 2.14.2;
23
(c) it is signed, sealed, bound together in hard cover, and marked as
stipulated in Clauses 2.12 and 2.13;
(d) it is accompanied by the Power of Attorney as specified in Clause

2.2.5, and in the case of a Consortium, the Power of Attorney as
specified in Clause 2.2.6 (c);
(e) it contains all the information and documents (complete in all respects)
as requested in this RFQ;
(f) it contains information in formats same as those specified in this RFQ;
(g) it contains certificates from its statutory auditors$ in the formats

specified at Appendix-I of the RFQ for each Eligible Project;
(h) it contains an attested copy of the receipt for payment of Rs. 10,000
(Rupees ten thousand only) to Authority towards the cost of the RFQ
document;
(i) it is accompanied by the Jt. Bidding Agreement (for Consortium),

specific to the Project, as stipulated in Clause 2.2.6(g);
(j) it does not contain any condition or qualification; and
(k) it is not non-responsive in terms hereof.
2.19.2 The Authority reserves the right to reject any Application which is non-
responsive and no request for alteration, modification, substitution or
withdrawal shall be entertained by the Authority in respect of such Application.
2.20 Clarifications
2.20.1 To facilitate evaluation of Applications, the Authority may, at its sole

discretion, seek clarifications from any Applicant regarding its Application.
Such clarification(s) shall be provided within the time specified by the
Authority for this purpose. Any request for clarification(s) and all clarification(s)
in response thereto shall be in writing.
2.20.2 If an Applicant does not provide clarifications sought under Clause 2.20.1
above within the prescribed time, its Application shall be liable to be rejected.
In case the Application is not rejected, the Authority may proceed to evaluate
the Application by construing the particulars requiring clarification to the best
of its understanding, and the Applicant shall be barred from subsequently
questioning such interpretation of the Authority.
$
In case duly certified audited annual financial statements containing the requisite details are provided, a
separate certification by statutory auditors would not be necessary in respect of Clause 2.19.1 (g). In
24
E. QUALIFICATION AND BIDDING
2.21 Short-listing and notification
After the evaluation of Applications, the Authority would announce a list of
short-listed pre-qualified Applicants (Bidders) who will be eligible for
participation in the Bid Stage. At the same time, the Authority would notify the
other Applicants that they have not been short-listed. The Authority will not
entertain any query or clarification from Applicants who fail to qualify.
2.22 Submission of Bids

The Bidders will be requested to submit a Bid in the form and manner to be
set out in the Bidding Documents.
Only pre-qualified Applicants shall be invited by the Authority to submit their
Bids for the Project. The Authority is likely to provide a comparatively short
time span for submission of the Bids for the Project. The Applicants are
therefore advised to visit the site and familiarise themselves with the Project
by the time of submission of the Application. No extension of time is likely to
be considered for submission of Bids pursuant to invitation that may be issued
by the Authority.
2.23 Proprietary data

All documents and other information supplied by the Authority or submitted by
an Applicant to the Authority shall remain or become the property of the
Authority. Applicants are to treat all information as strictly confidential and
shall not use it for any purpose other than for preparation and submission of
their Application. The Authority will not return any Application or any
information provided along therewith.
2.24 Correspondence with the Applicant

Save and except as provided in this RFQ, the Authority shall not entertain any
correspondence with any Applicant in relation to the acceptance or rejection
of any Application.
25
3. CRITERIA FOR EVALUATION
3.1 Evaluation parameters
3.1.1 Only those Applicants who meet the eligibility criteria specified in Clauses
2.2.2 and 2.2.3 above shall qualify for evaluation under this Section 3.
Applications of firms/ consortia who do not meet these criteria shall be
rejected.
3.1.2 The Applicant’s competence and capability is proposed to be established by

the following parameters:
(a) Technical Capacity; and
(b) Financial Capacity
3.2 Technical Capacity for purposes of evaluation
3.2.1 Subject to the provisions of Clause 2.2, the following categories of experience
would qualify as Technical Capacity and eligible experience (the "Eligible
Experience") in relation to eligible projects as stipulated in Clauses 3.2.3 and
3.2.4 (the "Eligible Projects"):
Category 1: Project experience on Eligible Projects in warehousing/storage

sector that qualify under Clause 3.2.3
Category 2: Project experience on Eligible Projects in core sector that qualify
under Clause 3.2.3
Category 3: Construction experience on Eligible Projects in
warehousing/storage sector that qualify under Clause 3.2.4
Category 4: Construction experience on Eligible Projects in core sector that
qualify under Clause 3.2.4
(iii) warehousing/storage sector would be deemed to include

(iv) core sector would be deemed to include roads, highways and bridges,
real estate development.$
3.2.2 Eligible Experience in respect of each category shall be measured only for
Eligible Projects.
$
Real estate development shall not include residential flats unless they form part of a real estate complex or
township which has been built by the Applicant.
26
3.2.3 For a project to qualify as an Eligible Project under Categories 1 and 2:
(e) It should have been undertaken as a PPP project on BOT, BOLT,

(f) the entity claiming experience should have held, in the company owing
(g) the capital cost of the project should be more than Rupees 6 (six)
crore; and
(h) the entity claiming experience shall, during the last 5 (five) financial
Project.
3.2.4 For a project to qualify as an Eligible Project under Categories 3 and 4, the
Applicant should have paid for execution of its construction works or received
payments from its client(s) for construction works executed, fully or partially,
during the 5 (five) financial years immediately preceding the Application Due
Date, and only the payments (gross) actually made or received, as the case
may be, during such 5 (five) financial years shall qualify for purposes of
computing the Experience Score. However, payments/receipts of less than
Rupees 6 crore (Rupees six crore) shall not be reckoned as
hereunder.
3.2.5 The Applicant shall quote experience in respect of a particular Eligible Project
under any one category only, even though the Applicant (either individually or
along with a member of the Consortium) may have played multiple roles in the
cited project. Double counting for a particular Eligible Project shall not be
permitted in any form.
3.2.6 Subject to the provisions of Clause 3.2.7, an Applicant’s experience shall be

measured and stated in terms of a score (the "Experience Score"). The
Experience Score for an Eligible Project in a given category would be the
eligible payments and/or receipts specified in Clause 2.2.2 (A), divided by one
27
crore and then multiplied by the applicable factor in Table 3.2.6 below. In case
the Applicant has experience across different categories, the score for each
category would be computed as above and then aggregated to arrive at its
Experience Score.
Table 3.2.6: Factors for Experience across categories
Categories Factor
Category 1 1.5
Category 2 0.8
Category 3 0.9
Category 4 0.4
3.2.7 The Experience Score determined in accordance with Clause 3.2.6 in respect
of an Eligible Project situated in a developed country which is a member of
OECD shall be further multiplied by a factor of 0.5 (zero point five) and the
product thereof shall be the Experience Score for such Eligible Project.
3.2.8 Experience for any activity relating to an Eligible Project shall not be claimed
by two or more Members of the Consortium. In other words, no double
counting by a Consortium in respect of the same experience shall be
permitted in any manner whatsoever.
3.3 Details of Experience
3.3.1 The Applicant should furnish the details of Eligible Experience for the last 5
(five) financial years immediately preceding the Application Due Date.
3.3.2 The Applicants must provide the necessary information relating to Technical
Capacity as per format at Annex-II of Appendix-I.
3.3.3 The Applicant should furnish the required Project-specific information and
evidence in support of its claim of Technical Capacity, as per format at Annex-
IV of Appendix-I.
3.4 Financial information for purposes of evaluation
3.4.1 The Application must be accompanied by the Audited Annual Reports of the
Applicant (of each Member in case of a Consortium) for the last 5 (five)
financial years, preceding the year in which the Application is made.
3.4.2 In case the annual accounts for the latest financial year are not audited and
therefore the Applicant cannot make it available, the Applicant shall give an
undertaking to this effect and the statutory auditor shall certify the same. In
such a case, the Applicant shall provide the Audited Annual Reports for 5
(five) years preceding the year for which the Audited Annual Report is not
being provided.
3.4.3 The Applicant must establish the minimum Net Worth specified in Clause
2.2.2 (B), and provide details as per format at Annex-III of Appendix-I.
28
3.5 Short-listing of Applicants
3.5.1 The credentials of eligible Applicants shall be measured in terms of their

Experience Score. The sum total of the Experience Scores for all Eligible
Projects shall be the ‘Aggregate Experience Score’ of a particular Applicant.
In case of a Consortium, the Aggregate Experience Score of each of its
Members, who have an equity share of at least 26% in such Consortium, shall
be summed up for arriving at the combined Aggregate Experience Score of
the Consortium.
3.5.2 The Applicants shall then be ranked on the basis of their respective
Aggregate Experience Scores and short-listed for submission of Bids. The
Authority expects to short-list upto 6 (six) pre-qualified Applicants for
participation in the Bid Stage. The Authority, however, reserves the right to
increase the number of short-listed pre-qualified Applicants by adding
additional Applicant.
3.5.3 The Authority may, in its discretion, maintain a reserve list of pre-qualified
Applicants who may be invited to substitute the short-listed Applicants in the
event of their withdrawal from the Bid Process or upon their failure to conform
to the conditions specified herein; provided that a substituted Applicant shall
be given at least 30 (thirty) days to submit its Bid.
29
4. FRAUD AND CORRUPT PRACTICES
4.1 The Applicants and their respective officers, employees, agents and advisers
shall observe the highest standard of ethics during the Bidding Process.
Notwithstanding anything to the contrary contained herein, the Authority may
reject an Application without being liable in any manner whatsoever to the
Applicant if it determines that the Applicant has, directly or indirectly or
through an agent, engaged in corrupt practice, fraudulent practice, coercive
practice, undesirable practice or restrictive practice in the Bidding Process.
4.2 Without prejudice to the rights of the Authority under Clause 4.1 hereinabove,
if an Applicant is found by the Authority to have directly or indirectly or
through an agent, engaged or indulged in any corrupt practice, fraudulent
practice, coercive practice, undesirable practice or restrictive practice during
the Bidding Process, such Applicant shall not be eligible to participate in any
tender or RFQ issued by the Authority during a period of 2 (two) years from
the date such Applicant is found by the Authority to have directly or indirectly
or through an agent, engaged or indulged in any corrupt practice, fraudulent
practice, coercive practice, undesirable practice or restrictive practice, as the
case may be.
4.3 For the purposes of this Clause 4, the following terms shall have the meaning
hereinafter respectively assigned to them:
(a) “corrupt practice” means (i) the offering, giving, receiving, or

soliciting, directly or indirectly, of anything of value to influence the
actions of any person connected with the Bidding Process (for
avoidance of doubt, offering of employment to, or employing, or
engaging in any manner whatsoever, directly or indirectly, any official
of the Authority who is or has been associated in any manner, directly
or indirectly, with the Bidding Process or the LOA or has dealt with
matters concerning the Concession Agreement or arising therefrom,
before or after the execution thereof, at any time prior to the expiry of
one year from the date such official resigns or retires from or otherwise
ceases to be in the service of the Authority, shall be deemed to
constitute influencing the actions of a person connected with the
Bidding Process); or (ii) save and except as permitted under sub
clause (d) of Clause 2.2.1, engaging in any manner whatsoever,
whether during the Bidding Process or after the issue of the LOA or
after the execution of the Concession Agreement, as the case may be,
any person in respect of any matter relating to the Project or the LOA
or the Concession Agreement, who at any time has been or is a legal,
financial or technical adviser of the Authority in relation to any matter
concerning the Project;
(b) “fraudulent practice” means a misrepresentation or omission of facts

or suppression of facts or disclosure of incomplete facts, in order to
influence the Bidding Process;
30
(c) “coercive practice” means impairing or harming or threatening to
impair or harm, directly or indirectly, any person or property to influence
any person’s participation or action in the Bidding Process;
(d) “undesirable practice” means (i) establishing contact with any person
connected with or employed or engaged by the Authority with the
objective of canvassing, lobbying or in any manner influencing or
attempting to influence the Bidding Process; or (ii) having a Conflict of
Interest; and
(e) “restrictive practice” means forming a cartel or arriving at any

understanding or arrangement among Applicants with the objective of
restricting or manipulating a full and fair competition in the Bidding
Process.
31
5. PRE-APPLICATION CONFERENCE
5.1 A Pre-Application conference of the interested parties shall be convened at

the designated date, time and place. Only those persons who have purchased
the RFQ document shall be allowed to participate in the Pre-Application
conference. Applicants who have downloaded the RFQ document from the
Authority’s website (http://www.mpwarehousing.com) should submit a
Demand Draft of Rs. 10,000 (Rupees ten thousand only) towards the cost of
document$, through their representative attending the conference. A
maximum of three representatives of each Applicant shall be allowed to
participate on production of authority letter from the Applicant.
5.2 During the course of Pre-Application conference, the Applicants will be free to
seek clarifications and make suggestions for consideration of the Authority.
The Authority shall endeavour to provide clarifications and such further
information as it may, in its sole discretion, consider appropriate for facilitating
a fair, transparent and competitive Bidding Process.
$
32
6. MISCELLANEOUS
6.1 The Bidding Process shall be governed by, and construed in accordance with,
the laws of India and the Courts at Bhopal shall have exclusive jurisdiction
over all disputes arising under, pursuant to and/ or in connection with the
Bidding Process.
6.2 The Authority, in its sole discretion and without incurring any obligation or
liability, reserves the right, at any time, to;
(a) suspend and/ or cancel the Bidding Process and/ or amend and/ or
supplement the Bidding Process or modify the dates or other terms and
conditions relating thereto;
(b) consult with any Applicant in order to receive clarification or further

information;
(c) pre-qualify or not to pre-qualify any Applicant and/ or to consult with any
Applicant in order to receive clarification or further information;
(d) retain any information and/ or evidence submitted to the Authority by, on
behalf of, and/ or in relation to any Applicant; and/ or
(e) independently verify, disqualify, reject and/ or accept any and all
submissions or other information and/ or evidence submitted by or on
behalf of any Applicant.
6.3 It shall be deemed that by submitting the Application, the Applicant agrees
and releases the Authority, its employees, agents and advisers, irrevocably,
unconditionally, fully and finally from any and all liability for claims, losses,
damages, costs, expenses or liabilities in any way related to or arising from
the exercise of any rights and/ or performance of any obligations hereunder
and the Bidding Documents, pursuant hereto, and/ or in connection with the
Bidding Process, to the fullest extent permitted by applicable law, and waives
any and all rights and/ or claims it may have in this respect, whether actual or
contingent, whether present or in future.
33
APPENDIX I
Letter Comprising the Application for Pre-Qualification
Dated:
To,
The Chief Engineer
Office Complex, Block ‘A’, Gautam Nagar
Sub: Application for pre-qualification for ............... location in Madhya

Pradesh - Silos Project
Dear Sir,
With reference to your RFQ document dated ………..$, I/we, having examined
the RFQ document and understood its contents, hereby submit my/our Application
for Qualification for the aforesaid project. The Application is unconditional and
unqualified.
2. I/ We acknowledge that the Authority will be relying on the information
provided in the Application and the documents accompanying such Application for
pre-qualification of the Applicants for the aforesaid project, and we certify that all
information provided in the Application and in Annexes I to IV is true and correct;
nothing has been omitted which renders such information misleading; and all
documents accompanying such Application are true copies of their respective
originals.
3. This statement is made for the express purpose of qualifying as a Bidder for
the development, construction, operation and maintenance of the aforesaid Project
and storage of wheat therein.
4. I/ We shall make available to the Authority any additional information it may

find necessary or require to supplement or authenticate the Qualification statement.
5. I/ We acknowledge the right of the Authority to reject our Application without

assigning any reason or otherwise and hereby waive, to the fullest extent permitted
by applicable law, our right to challenge the same on any account whatsoever.
6. I/ We certify that in the last three years, we/ any of the Consortium Members
or our/ their Associates have neither failed to perform on any contract, as evidenced
by imposition of a penalty by an arbitral or judicial authority or a judicial
pronouncement or arbitration award, nor been expelled from any project or contract
by any public authority nor have had any contract terminated by any public authority
for breach on our part.
7. I/ We declare that:
(a) I/ We have examined and have no reservations to the RFQ document,
including any Addendum issued by the Authority;
$
All blank spaces shall be suitably filled up by the Applicant to reflect the particulars relating to such Applicant.
34
Appendix I
Page 2
(b) I/ We do not have any conflict of interest in accordance with Clauses 2.2.1(c)
and 2.2.1(d) of the RFQ document;
(c) I/We have not directly or indirectly or through an agent engaged or indulged
in any corrupt practice, fraudulent practice, coercive practice, undesirable
practice or restrictive practice, as defined in Clause 4.3 of the RFQ
document, in respect of any tender or request for proposal issued by or any
agreement entered into with the Authority or any other public sector
enterprise or any government, Central or State; and
(d) I/ We hereby certify that we have taken steps to ensure that in conformity
with the provisions of Section 4 of the RFQ document, no person acting for
us or on our behalf has engaged or will engage in any corrupt practice,
fraudulent practice, coercive practice, undesirable practice or restrictive
practice.
8. I/ We understand that you may cancel the Bidding Process at any time and
that you are neither bound to accept any Application that you may receive nor to
invite the Applicants to Bid for the Project, without incurring any liability to the
Applicants, in accordance with Clause 2.17.6 of the RFQ document.
9. I/ We believe that we/ our Consortium/ proposed Consortium satisfy(s) the Net
Worth criteria and meet(s) all the requirements as specified in the RFQ document
and are/ is qualified to submit a Bid.
10. I/ We declare that we/ any Member of the Consortium, or our/ its Associates
are not a Member of a/ any other Consortium applying for pre-qualification.
11. I/ We certify that in regard to matters other than security and integrity of the
country, we/ any Member of the Consortium or any of our/ their Associates have not
been convicted by a Court of Law or indicted or adverse orders passed by a
regulatory authority which could cast a doubt on our ability to undertake the Project
or which relates to a grave offence that outrages the moral sense of the community.
12. I/ We further certify that in regard to matters relating to security and integrity of
the country, we/ any Member of the Consortium or any of our/ their Associates have
not been charge-sheeted by any agency of the Government or convicted by a Court
of Law.
13. I/ We further certify that no investigation by a regulatory authority is pending

either against us/ any Member of the Consortium or against our/ their Associates or
against our CEO or any of our directors/ managers/ employees.ϒ
14. I/ We further certify that we are qualified to submit a Bid in accordance with
the guidelines for qualification of bidders seeking to acquire stakes in Public Sector
ϒ
In case the Applicant is unable to provide certifi cation regarding any pending investigation as speci fied in para 13, it may
precede the paragraph by the words viz. “Except as specified in Schedule **** hereto”. The exceptions to the certification
or any disclosures relating thereto may be clearly stated in a Schedule to be attached to the Applicati on. The Authority will
consider the contents of such Schedule and determin e whether or not the exceptions/disclosures are material to the
suitability of the Applicant for pre-qualification hereunder.
35
Appendix I
Page 3
Enterprises through the process of disinvestment issued by the GOI vide Department
of Disinvestment OM No. 6/4/2001-DD-II dated 13th July, 2001 which guidelines
apply mutatis mutandis to the Bidding Process. A copy of the aforesaid guidelines
form part of the RFQ at Appendix-V thereof.
15. I/ We undertake that in case due to any change in facts or circumstances

during the Bidding Process, we are attracted by the provisions of disqualification in
terms of the provisions of this RFQ, we shall intimate the Authority of the same
immediately.
16. The Statement of Legal Capacity as per format provided at Annex-V in
Appendix-I of the RFQ document, and duly signed, is enclosed. The power of
attorney for signing of application and the power of attorney for Lead Member of
consortium, as per format provided at Appendix II and III respectively of the RFQ,
are also enclosed.
17. I/ We understand that the selected Bidder shall either be an existing Company
incorporated under the Indian Companies Act, 1956, or shall incorporate as such
prior to execution of the Concession Agreement.
18. I/ We hereby confirm that we are in compliance of/ shall comply with the O&M
requirements specified in Clause 2.2.3.
19. I/ We hereby irrevocably waive any right or remedy which we may have at
any stage at law or howsoever otherwise arising to challenge or question any
decision taken by the Authority in connection with the selection of Applicants,
selection of the Bidder, or in connection with the selection/ Bidding Process itself, in
respect of the above mentioned Project and the terms and implementation thereof.
20. I/ We agree and undertake to abide by all the terms and conditions of the
RFQ document.
21. I/ We certify that in terms of the RFQ, my/our Networth is Rs. ………………..
(Rs. in words) and the Aggregate Experience Score is ……………… (number in
words).
{22. We agree and undertake to be jointly and severally liable for all the
obligations of the Concessionaire under the Concession Agreement till occurrence of
Financial Close in accordance with the Concession Agreement.}$
In witness thereof, I/ we submit this application under and in accordance with the
terms of the RFQ document.
Yours faithfully,
Date: (Signature, name and designation of the Authorised

Signatory)
Place: Name and seal of the Applicant/ Lead
Member
Note: Paragraphs in square parenthesis may be omitted, if not applicable, or

modified as necessary.
$
Omit if the Applicant is not a Consortium.
36
Appendix I
Annex-I
ANNEX-I
Details of Applicant
1. (a) Name:
(b) Country of incorporation:
(c) Address of the corporate headquarters and its branch office(s), if any, in
India:
(d) Date of incorporation and/ or commencement of business:
2. Brief description of the Company including details of its main lines of business
and proposed role and responsibilities in this Project:
3. Details of individual(s) who will serve as the point of contact/ communication for
the Authority:
(a) Name:
(b) Designation:
(c) Company:
(d) Address:
(e) Telephone Number:
(f) E-Mail Address:
(g) Fax Number:
4. Particulars of the Authorised Signatory of the Applicant:

(a) Name:
(b) Designation:
(c) Address:
(d) Phone Number:
(e) Fax Number:
5. In case of a Consortium:
(a) The information above (1-4) should be provided for all the Members of the
Consortium.
(b) A copy of the Jt. Bidding Agreement, as envisaged in Clause 2.2.6(g)
should be attached to the Application.
(c) Information regarding the role of each Member should be provided as per
table below:
37
Appendix I
Annex-I
Sl. Name of Member Role* Percentage of equity in

No. {Refer the Consortium{Refer
Clause Clauses 2.2.6(a), (c) & (g)}
2.2.6(d)}$
1.
2.
3.
4.
* The role of each Member, as may be determined by the Applicant, should
be indicated in accordance with instruction 4 at Annex-IV.
(d) The following information shall also be provided for each Member of the
Consortium:
Name of Applicant/ member of Consortium:
No. Criteria Yes No
been barred by the Central/ State Government,
or any entity controlled by it, from participating in
any project (BOT or otherwise)?
2. If the answer to 1 is yes, does the bar subsist as
on the date of Application?
paid liquidated damages of more than 5% of the
contract value in a contract due to delay or has
been penalised due to any other reason in
relation to execution of a contract, in the last
three years?
6. A statement by the Applicant and each of the Members of its Consortium (where
applicable) or any of their Associates disclosing material non-performance or
contractual non-compliance in past projects, contractual disputes and litigation/
arbitration in the recent past is given below (Attach extra sheets, if necessary):
$
All provisions contained in curly parenthesis shall be suitably modified by the Applicant to reflect the particulars
relating to such Applicant.
38
Appendix I
Annex-II
ANNEX-II
Technical Capacity of the Applicant @
Applicant Member Projec Cate- Experience¥ Experienc

#
type Code* t gory (Equivalent Rs. crore) $$
e Score£
$
Code* Payments Payment Revenues
* made/ s made appropriate
received for d from
for develop Eligible
constructio ment of Projects in
n of Eligible Categories
Eligible Projects 1 and 2
Projects in in
Categories Categori
3 and 4 es 1 and
(1) (2) 2 (8)
(4) (7)
(3) (5)
(6)
Single a
entity b
Applicant c
d
Consortiu 1a
m Member 1b
1 1c
1d
Consortiu 2a
m Member 2b
2 2c
2d
Consortiu 3a
m Member 3b
3 3c
3d
Consortiu 4a
m 4b
Member 4 4c
4d
Aggregate Experience Score =
39
Appendix I
Annex-II
@
Provide details of only those projects that have been undertaken by the Applicant
under its own name and/ or by an Associate specified in Clause 2.2.9 and/ or by a
project company eligible under Clause 3.2.3(b). In case of Categories 1 and 2, include
only those projects which have an estimated capital cost exceeding the amount
specified in Clause 3.2.3(c) and for Categories 3 and 4, include only those projects
where the payments made/received exceed the amount specified in Clause 3.2.4. In
case the Application Due Date falls within 3 (three) months of the close of the latest
#
Single entity Applicant and ignore the rows titled Consortium Member. In case of a
Consortium, the row titled Single entity Applicant may be ignored. In case credit is
claimed for an Associate, necessary evidence to establish the relationship of the
Applicant with such Associate, in terms of Clause 2.2.9, shall be provided.
* Member Code shall indicate NA for Not Applicable in case of a single entity Applicant.
For other Members, the following abbreviations are suggested viz. LM means Lead
Member, TM means Technical Member, FM means Financial Member, OMM means
Operation & Maintenance Member, OM means Other Member.
**Refer Annex-IV of this Appendix-I. Add more rows if necessary.
$
Refer Clause 3.2.1.
¥ In the case of Eligible Projects in Categories 1 and 2, the figures in columns 6 and 7
may be added for computing the Experience Score of the respective projects. In the
case of Categories 3 and 4, construction shall not include supply of goods or equipment
except when such goods or equipment form part of a turn-key construction contract/
EPC contract for the project. In no case shall the cost of land be included while
computing the Experience Score of an Eligible Project.
$$
For conversion of US Dollars to Rupees, the rate of conversion shall be Rupees 55
(fifty five) to a US Dollar. In case of any other currency, the same shall first be converted
to US Dollars as on the date 60 (sixty) days prior to the Application Due Date, and the
amount so derived in US Dollars shall be converted into Rupees at the aforesaid rate.
The conversion rate of such currencies shall be the daily representative exchange rates
published by the International Monetary Fund for the relevant date.
£
Divide the amount in the Experience column by one crore and then multiply the result
thereof by the applicable factor set out in Table 3.2.6 to arrive at the Experience Score
for each Eligible Project. In the case of an Eligible Project situated in an OECD country,
the Experience Score so arrived at shall be further multiplied by 0.5, in accordance with
the provisions of Clause 3.2.7, and the product thereof shall be the Experience Score
for such Eligible Projects.
40
Appendix I
Annex-III
ANNEX-III
Financial Capacity of the Applicant
(Refer to Clauses 2.2.2(B), 2.2.4 (ii) and 3.4 of the RFQ)
(In Rs. crore$$)

Applicant Member Net Cash Accruals Net
type $ Code£ Worth€
Year Year Year Year Year Year
1 2 3 4 5 1
(1) (2) (3) (4) (5) (6) (7) (8)
Single
entity
Applicant
Consortium
Member 1
Consortium
Member 2
Consortium
Member 3
Consortium
Member 4
TOTAL
Name & address of Applicant’s Bankers:

$
Single entity Applicant and ignore the rows titled Consortium Members. In case of a
Consortium, row titled Single entity Applicant may be ignored.
£
For Member Code, see instruction 4 at Annex-IV of this Appendix-I.
€
The Applicant should provide details of its own Financial Capacity or of an Associate
$$
For conversion of other currencies into rupees, see note below Annex-II of Appendix-
I.
41
Appendix I
Annex-III
Instructions:
1. The Applicant/ its constituent Consortium Members shall attach copies of the
balance sheets, financial statements and Annual Reports for 5 (five) years
preceding the Application Due Date. The financial statements shall:
(a) reflect the financial situation of the Applicant or Consortium Members and
its/ their Associates where the Applicant is relying on its Associate’s
financials;
(b) be audited by a statutory auditor;
(c) be complete, including all notes to the financial statements; and
(d) correspond to accounting periods already completed and audited (no
statements for partial periods shall be requested or accepted).
2. Net Cash Accruals shall mean Profit After Tax + Depreciation.
3. Net Worth shall mean (Subscribed and Paid-up Equity + Reserves) less
(Revaluation reserves + miscellaneous expenditure not written off + reserves not
available for distribution to equity shareholders).
4. Year 1 will be the latest completed financial year, preceding the bidding. Year 2
shall be the year immediately preceding Year 1 and so on. In case the
Application Due Date falls within 3 (three) months of the close of the latest
5. In the case of a Consortium, a copy of the Jt. Bidding Agreement shall be
submitted in accordance with Clause 2.2.6 (g) of the RFQ document.
6. The applicant shall also provide the name and address of the Bankers to the
Applicant.
7. The Applicant shall provide an Auditor’s Certificate specifying the net worth of the
Applicant and also specifying the methodology adopted for calculating such net
worth in accordance with Clause 2.2.4 (ii) of the RFQ document.
42
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ANNEX-IV
Details of Eligible Projects
Project Code: Member Code:

Item Refer Particulars of the Project
Instruction
(1) (2) (3)
Title & nature of the project
Category 5
Year-wise (a) payments 6
received/ made for
construction, (b) payments
made for development of PPP
projects and/ or (c) revenues
appropriated
Entity for which the project 7
was constructed/ developed
Location
Project cost 8
Date of commencement of
project/ contract
Date of completion/ 9
commissioning
Equity shareholding 10
(with period during which
equity was held)
Whether credit is being taken 15
for the Eligible Experience of
an Associate (Yes/ No)
Instructions:
1. Applicants are expected to provide information in respect of each Eligible Project
in this Annex. The projects cited must comply with the eligibility criteria specified
in Clause 3.2.3 and 3.2.4 of the RFQ, as the case may be. Information provided
in this section is intended to serve as a backup for information provided in the
Application. Applicants should also refer to the Instructions below.
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2. For a single entity Applicant, the Project Codes would be a, b, c, d etc. In case
the Applicant is a Consortium then for Member 1, the Project Codes would be 1a,
1b, 1c, 1d etc., for Member 2 the Project Codes shall be 2a, 2b, 2c, 2d etc., and
so on.
3. A separate sheet should be filled for each Eligible Project.
4. Member Code shall indicate NA for Not Applicable in case of a single entity
Applicant. For other Members, the following abbreviations are suggested viz. LM
means Lead Member, TM means Technical Member, FM means Financial
Member, OMM means Operation & Maintenance Member; and OM means Other
Member. In case the Eligible Project relates to an Associate of the Applicant or
its Member, write “Associate” along with Member Code.
5. Refer to Clause 3.2.1 of the RFQ for category number.
6. The total payments received/ made and/or revenues appropriated for each
Eligible Project are to be stated in Annex-II of this Appendix-I. The figures to be
provided here should indicate the break-up for the past 5 (five) financial years.
Year 1 refers to the financial year immediately preceding the Application Due
Date; Year 2 refers to the year before Year 1, Year 3 refers to the year before
Year 2, and so on (Refer Clause 2.2.12). For Categories 1 and 2, expenditure on
development of the project and/or revenues appropriated, as the case may be,
should be provided, but only in respect of projects having an estimated capital
cost exceeding the amount specified in Clause 3.2.3(c). In case of Categories 3
and 4, payments made/ received only in respect of construction should be
provided, but only if the amount paid/received exceeds the minimum specified in
Clause 3.2.4. Payment for construction works should only include capital
expenditure, and should not include expenditure on repairs and maintenance.
7. In case of projects in Categories 1 and 2, particulars such as name, address and
contact details of owner/ Authority/ Agency (i.e. concession grantor, counter party
to PPA, etc.) may be provided. In case of projects in Categories 3 and 4, similar
particulars of the client need to be provided.
8. Provide the estimated capital cost of Eligible Project. Refer to Clauses 3.2.3 and
3.2.4
9. For Categories 1 and 2, the date of commissioning of the project, upon
completion, should be indicated. In case of Categories 3 and 4, date of
completion of construction should be indicated. In the case of projects under
construction, the likely date of completion or commissioning, as the case may be,
shall be indicated.
10. For Categories 1 and 2, the equity shareholding of the Applicant, in the company
owning the Eligible Project, held continuously during the period for which Eligible
Experience is claimed, needs to be given (Refer Clause 3.2.3).
11. Experience for any activity relating to an Eligible Project shall not be claimed by
two or more Members of the Consortium. In other words, no double
44
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Annex-IV
counting by a consortium in respect of the same experience shall be permitted in
any manner whatsoever.
12. Certificate from the Applicant’s statutory auditor$ or its respective clients must be
furnished as per formats below for each Eligible Project. In jurisdictions that do
not have statutory auditors, the auditors who audit the annual accounts of the
Applicant/ Member/Associate may provide the requisite certification.
13. If the Applicant is claiming experience under Categories 1 & 2£, it should provide
a certificate from its statutory auditor in the format below:
Certificate from the Statutory Auditor regarding PPP projectsΦ
Based on its books of accounts and other published information authenticated by it, this
is to certify that …………………….. (name of the Applicant/Member/Associate) is/ was
an equity shareholder in ……………….. (title of the project company) and holds/ held
Rs. ……… cr. (Rupees ………………………….. crore) of equity (which constitutes
……..%€ of the total paid up and subscribed equity capital) of the project company from
…………... (date) to …………….. (date)¥. The project was/is likely to be commissioned
on ……………. (date of commissioning of the project).
We further certify that the total estimated capital cost of the project is Rs. ……… cr.
(Rupees …………………crore), of which Rs. ……… cr. (Rupees …………… crore) of
capital expenditure was incurred during the past five financial years as per year-wise
details noted below:
………………………
………………………
We also certify that the eligible annual revenues collected and appropriated by the
aforesaid project company in terms of Clauses 3.2.1 and 3.2.3 (d) of the RFQ during the
past five financial years were Rs. ……… cr. as per year-wise details noted below:
………………………
………………………

Seal of the audit firm: (Signature, name and designation
Date: of the authorised signatory)
$
In case duly certified audited annual financial statements containing the requisite details are provided, a separate
certification by statutory auditors would not be necessary.
£
Φ Provide Certificate as per this format only. Attach Explanatory Notes to the Certificate, if necessary. Statutory
€
Refer instruction no. 10 in this Annex-IV.
¥
In case the project is owned by the Applicant company, this language may be suitably modified to read: “It is
certified that …………….. (name of Applicant) constructed and/ or owned the ………….. (name of project) from
……………….. (date) to ………………… (date).”
45
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14. If the Applicant is claiming experience under Category 3 & 4♣, it should provide a
certificate from its statutory auditors or the client in the format below:
Certificate from the Statutory Auditor/ Client regarding construction worksΦ
Based on its books of accounts and other published information authenticated by it, {this
is to certify that …………………….. (name of the Applicant/Member/Associate) was
engaged by ……………….. (title of the project company) to execute ………………
(name of project) for …………………. (nature of project)}ψ. The construction of the
project commenced on ………….. (date) and the project was/ is likely to be
commissioned on …………… (date, if any). It is certified that ……………. (name of the
Applicant/ Member/ Associate) received/paid Rs. ……….. cr. (Rupees
…………………………… crore) by way of payment for the aforesaid construction works.
We further certify that the total estimated capital cost of the project is Rs. …… cr.
(Rupees …………………crore), of which the Applicant/Member/Associate received/paid
Rs. ……… cr. (Rupees ……………………… crore), in terms of Clauses 3.2.1 and 3.2.4
of the RFQ, during the past five financial years as per year-wise details noted below:
………………………
………………………
{It is further certified that the payments/ receipts indicated above are restricted to the
share of the Applicant who undertook these works as a partner or a member of joint
venture/ consortium.}♠

Seal of the audit firm: (Signature, name and designation of the
Date: authorised signatory).
♣
Refer Clauses 3.2.1 and 3.2.4 of the RFQ.
Φ
Provide Certificate as per this format only. Attach Explanatory Notes to the Certificate, if necessary. Statutory
ψ
In case the Applicant owned the Eligible Project and engaged a contractor for undertaking the construction works,
this language may be modified to read: “ this is to certify that …………… (name of Applicant/ Member/ Associate)
held 26% or more of the paid up and subscribed share capital in the……………. (name of Project company) when it
undertook construction of the ………………. (name of Project) through ………………… (name of the contractor).
♠
This certification should only be provided in case of jobs/ contracts, which are executed as part of a partnership/
joint venture/ consortium. The payments indicated in the certificate should be restricted to the share of Applicant in
such partnership/ joint venture/ consortium. This portion may be omitted if the contract did not involve a
partnership/ joint venture/ consortium. In case where work is not executed by partnership/ joint venture/ consortium,
this paragraph may be deleted.
46
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15. In the event that credit is being taken for the Eligible Experience of an Associate,
as defined in Clause 2.2.9, the Applicant should also provide a certificate in the
format below:
Certificate from Statutory Auditor/ Company Secretary regarding Associate$
Based on the authenticated record of the Company, this is to certify that more than 50%
(fifty per cent) of the subscribed and paid up voti ng equity of ……………… ( name of the
Applicant/ Consortium Member/ Associate) is held, directly or indirectly £, by ………………..
(name of Associate/ Applicant/ Consortium Member). By virtue of the aforesaid share-
holding, the latter exercises control over the former, who is an Associate in terms of
Clause 2.2.9 of the RFQ.
A brief description of the said equity held, direct ly or indirectly, is given below:
{Describe the share-holding of the Applicant/ Consor tium Member and the Associate. In
the event the Associate is under common control with the Applicant/ Consortium
Member, the relationship may be suitably described and similarly certified herein}
Seal of the audit firm: (Signature, name and des ignation of Date:
the authorised signatory).
$
In the event that the Applicant/ Consortium Member exercises control over an
Associate by operation of law, this certificate may be suitably modified and copies of the
relevant law may be enclosed and referred to.
£
In the case of indirect share-holding, the intervening companies in the chain of
ownership should also be Associates i.e., the share-holding in each such company
should be more than 50% in order to establish that the chain of “control” is not broken.
16. It may be noted that in the absence of any detail in the above certificates, the
information would be considered inadequate and could lead to exclusion of the
relevant project in computation of Experience ScoreΘ.
Θ
47
ANNEX-V
Statement of Legal Capacity
(To be forwarded on the letterhead of the Applicant/ Lead Member of Consortium)
Ref. Date:
To,
***********
***********
Dear Sir,
We hereby confirm that we/ our members in the Consortium (constitution of which has
been described in the application) satisfy the terms and conditions laid out in the RFQ
document.
We have agreed that …………………… (insert member’s name) will act as the Lead
Member of our consortium.*
We have agreed that ………………….. (insert individual’s name) will act as our
representative/ will act as the representative of the consortium on its behalf* and has
been duly authorized to submit the RFQ. Further, the authorised signatory is vested with
requisite powers to furnish such letter and authenticate the same.
Thanking you,
Yours faithfully,
(Signature, name and designation of the authorised signatory)
For and on behalf of……………………………..
*Please strike out whichever is not applicable.
48
APPENDIX II
Power of Attorney for signing of Application
Know all men by these presents, We…………………………………………….. (name of

the firm and address of the registered office) do hereby irrevocably constitute, nominate,
appoint and authorise Mr/ Ms (name), …………………… son/daughter/wife of
……………………………… and presently residing at …………………., who is presently
employed with us/ the Lead Member of our Consortium and holding the position of
……………………………. , as our true and lawful attorney (hereinafter referred to as the
“Attorney”) to do in our name and on our behalf, all such acts, deeds and things as are
necessary or required in connection with or incidental to submission of our application
for pre-qualification and submission of our bid for the ***** Project proposed or being
developed by the ***** (the “Authority”) including but not limited to signing and
submission of all applications, bids and other documents and writings, participate in
Pre-Applications and other conferences and providing information/ responses to the
Authority, representing us in all matters before the Authority, signing and execution of all
contracts including the Concession Agreement and undertakings consequent to
acceptance of our bid, and generally dealing with the Authority in all matters in
connection with or relating to or arising out of our bid for the said Project and/ or upon
award thereof to us and/or till the entering into of the Concession Agreement with the
Authority.
AND we hereby agree to ratify and confirm and do hereby ratify and confirm all acts,
deeds and things done or caused to be done by our said Attorney pursuant to and in
exercise of the powers conferred by this Power of Attorney and that all acts, deeds and
things done by our said Attorney in exercise of the powers hereby conferred shall and
shall always be deemed to have been done by us.
IN WITNESS WHEREOF WE, …………………………., THE ABOVE NAMED

PRINCIPAL HAVE EXECUTED THIS POWER OF ATTORNEY ON THIS ……… DAY
OF …………. 2…..
For …………………………..
(Signature, name, designation and address)
Witnesses:
1.
(Notarised)
2.
49
Appendix II
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Accepted
……………………………
(Signature)
(Name, Title and Address of the Attorney)
Notes:
Wherever required, the Applicant should submit for verification the extract of the
charter documents and documents such as a board or shareholders’ resolution/
50
APPENDIX III
Power of Attorney for Lead Member of Consortium
Whereas the ***** (“the Authority”) has invited applications from interested parties for
the ***** Project (the “Project”).
Whereas, …………………….., …………………….., …………………….. and

…………………….. (collectively the “Consortium”) being Members of the Consortium
are interested in bidding for the Project in accordance with the terms and conditions of
the Request for Qualification document (RFQ), Request for Proposal (RFP) and other
connected documents in respect of the Project, and
Whereas, it is necessary for the Members of the Consortium to designate one of them
as the Lead Member with all necessary power and authority to do for and on behalf of
the Consortium, all acts, deeds and things as may be necessary in connection with the
Consortium’s bid for the Project and its execution.
NOW THEREFORE KNOW ALL MEN BY THESE PRESENTS
We, …………………….. having our registered office at …………………….., M/s.

…………………….. having our registered office at …………………….., M/s.
…………………….. having our registered office at …………………….., and
…………………….. having our registered office at …………………….., (hereinafter
collectively referred to as the “Principals”) do hereby irrevocably designate, nominate,
constitute, appoint and authorise M/S …………………….. having its registered office at
…………………….., being one of the Members of the Consortium, as the Lead Member
and true and lawful attorney of the Consortium (hereinafter referred to as the
“Attorney”). We hereby irrevocably authorise the Attorney (with power to sub-delegate)
to conduct all business for and on behalf of the Consortium and any one of us during
the bidding process and, in the event the Consortium is awarded the
concession/contract, during the execution of the Project and in this regard, to do on our
behalf and on behalf of the Consortium, all or any of such acts, deeds or things as are
necessary or required or incidental to the pre-qualification of the Consortium and
submission of its bid for the Project, including but not limited to signing and submission
of all applications, bids and other documents and writings, participate in bidders and
other conferences, respond to queries, submit information/ documents, sign and
execute contracts and undertakings consequent to acceptance of the bid of the
Consortium and generally to represent the Consortium in all its dealings with the
Authority, and/ or any other Government Agency or any person, in all matters in
connection with or relating to or arising out of the Consortium’s bid for the Project and/
or upon award thereof till the Concession Agreement is entered into with the Authority.
AND hereby agree to ratify and confirm and do hereby ratify and confirm all acts, deeds
and things done or caused to be done by our said Attorney pursuant to and in exercise
of the powers conferred by this Power of Attorney and that all acts,
51
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Page 2
deeds and things done by our said Attorney in exercise of the powers hereby conferred
shall and shall always be deemed to have been done by us/ Consortium.
IN WITNESS WHEREOF WE THE PRINCIPALS ABOVE NAMED HAVE EXECUTED

THIS POWER OF ATTORNEY ON THIS …………………. DAY OF ………. 2..…
For ……………………..
(Signature)
……………………..
(Name & Title)
For ……………………..
(Signature)
……………………..
(Name & Title)
For ……………………..
(Signature)
……………………..
(Name & Title)
52
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Page 3
Witnesses:
1.
2.
………………………………………
(Executants)
(To be executed by all the Members of the Consortium)
Notes:
Also, wherever required, the Applicant should submit for verification the extract of
the charter documents and documents such as a board or shareholders’ resolution/
53
APPENDIX IV
Joint Bidding Agreement
(To be executed on Stamp paper of appropriate value)
THIS JOINT BIDDING AGREEMENT is entered into on this the ………… day of
………… 20…
AMONGST
1. {………… Limited, a company incorporated under the Companies Act, 1956ϒ}
and having its registered office at ………… (hereinafter referred to as the “First
AND
2. {………… Limited, a company incorporated under the Companies Act, 1956} and
having its registered office at ………… (hereinafter referred to as the “Second
AND
having its registered office at ………… (hereinafter referred to as the “Third Part”
which expression shall, unless repugnant to the context include its successors
and permitted assigns)}
AND
having its registered office at ………… (hereinafter referred to as the “Fourth
successors and permitted assigns)}$
The above mentioned parties of the FIRST, SECOND, {THIRD and FOURTH}
PART are collectively referred to as the “Parties” and each is individually
referred to as a “Party”
WHEREAS,
(A) THE Government of Madhya Pradesh, represented by its Principal Secretary
(Food and Civil Supplies) and having its principal offices at Mantralaya, Vallabh
Bhavan, Bhopal (hereinafter referred to as the “Authority” which expression
ϒ
A Bidder who is registered abroad may mention “a company duly organized and validly existing under the laws of
the jurisdiction of its incorporation” in place of “a company registered under the Companies Act, 1956”.
$
The number of Parties will be shown here, as applicable, subject however to a maximum of 6 (six).
54
Appendix IV
Page 2
shall, unless repugnant to the context or meaning thereof, include its
administrators, successors and assigns) has invited applications (the
Applications”) by its Request for Qualification No. ………… dated …………(the
“RFQ”) for pre-qualification and short-listing of bidders for development and
operation/ maintenance of ***** Project (the “Project”) through public private
partnership.
(B) The Parties are interested in jointly bidding for the Project as members of a
Consortium and in accordance with the terms and conditions of the RFQ
document and other bid documents in respect of the Project, and
(C) It is a necessary condition under the RFQ document that the members of the
Consortium shall enter into a Joint Bidding Agreement and furnish a copy thereof
with the Application.
NOW IT IS HEREBY AGREED as follows:

1. Definitions and Interpretations
In this Agreement, the capitalised terms shall, unless the context otherwise
requires, have the meaning ascribed thereto under the RFQ.
2. Consortium
2.1 The Parties do hereby irrevocably constitute a consortium (the “Consortium”) for
the purposes of jointly participating in the Bidding Process for the Project.
2.2 The Parties hereby undertake to participate in the Bidding Process only through
this Consortium and not individually and/ or through any other consortium
constituted for this Project, either directly or indirectly or through any of their
Associates.
3. Covenants
The Parties hereby undertake that in the event the Consortium is declared the
selected Bidder and awarded the Project, it shall incorporate a special purpose
vehicle (the “SPV”) under the Indian Companies Act, 1956 for entering into a
Concession Agreement with the Authority and for performing all its obligations as
the Concessionaire in terms of the Concession Agreement for the Project.
4. Role of the Parties
The Parties hereby undertake to perform the roles and responsibilities as
described below:
(a) Party of the First Part shall be the Lead member of the Consortium and
shall have the power of attorney from all Parties for conducting all
business for and on behalf of the Consortium during the Bidding
55
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Process and until the Appointed Date under the Concession Agreement
when all the obligations of the SPV shall become effective;
(b) Party of the Second Part shall be {the Technical Member of the
Consortium;}
{(c) Party of the Third Part shall be the Financial Member of the Consortium;
and}
{(d) Party of the Fourth Part shall be the Operation and Maintenance Member/
Other Member of the Consortium.}
5. Joint and Several Liability
The Parties do hereby undertake to be jointly and severally responsible for all
obligations and liabilities relating to the Project and in accordance with the terms
of the RFQ, RFP and the Concession Agreement, till such time as the Financial
Close for the Project is achieved under and in accordance with the Concession
Agreement.
6. Shareholding in the SPV
6.1 The Parties agree that the proportion of shareholding among the Parties in the
SPV shall be as follows:
First Party:
Second Party:
{Third Party :}
{Fourth Party :}
6.2 The Parties undertake that a minimum of 26% (twenty six per cent) of the
subscribed and paid up equity share capital of the SPV shall, at all times till the
second anniversary of the date of commercial operation of the Project, be held by
the Parties of the First, {Second and Third} Part whose experience and networth
have been reckoned for the purposes of qualification and short-listing of
Applicants for the Project in terms of the RFQ.
6.3 The Parties undertake that each of the Parties specified in Clause 6.2 above
shall, at all times between the commercial operation date of the Project and the
second anniversary thereof, hold subscribed and paid up equity share capital of
SPV equivalent to at least 5% (five per cent) of the Total Project Cost.
6.4 The Parties undertake that they shall collectively hold at least 51% (fifty one per
cent) of the subscribed and paid up equity share capital of the SPV at all times
until the second anniversary of the commercial operation date of the Project.
56
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Page 4
6.5 The Parties undertake that they shall comply with all equity lock-in requirements
set forth in the Concession Agreement.
6.6 The Parties undertake that the O&M Member shall subscribe and hold at least
10% (ten per cent) of the subscribed and paid up equity shares in the SPV in
terms of the Concession Agreement.
7. Representation of the Parties
Each Party represents to the other Parties as of the date of this Agreement that:
(a) Such Party is duly organised, validly existing and in good standing under
the laws of its incorporation and has all requisite power and authority to
enter into this Agreement;
(b) The execution, delivery and performance by such Party of this Agreement
has been authorised by all necessary and appropriate corporate or
governmental action and a copy of the extract of the charter documents
and board resolution/ power of attorney in favour of the person executing
this Agreement for the delegation of power and authority to execute this
Agreement on behalf of the Consortium Member is annexed to this
Agreement, and will not, to the best of its knowledge:
(i) require any consent or approval not already obtained;
(ii) violate any Applicable Law presently in effect and having
applicability to it;
(iii) violate the memorandum and articles of association, by-laws or
other applicable organisational documents thereof;
(iv) violate any clearance, permit, concession, grant, license or other
governmental authorisation, approval, judgement, order or decree
or any mortgage agreement, indenture or any other instrument to
which such Party is a party or by which such Party or any of its
properties or assets are bound or that is otherwise applicable to
such Party; or
(v) create or impose any liens, mortgages, pledges, claims, security
interests, charges or Encumbrances or obligations to create a lien,
charge, pledge, security interest, encumbrances or mortgage in or
on the property of such Party, except for encumbrances that would
not, individually or in the aggregate, have a material adverse effect
on the financial condition or prospects or business of such Party so
as to prevent such Party from fulfilling its obligations under this
Agreement;
57
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(c) this Agreement is the legal and binding obligation of such Party,
enforceable in accordance with its terms against it; and
(d) there is no litigation pending or, to the best of such Party's knowledge,
threatened to which it or any of its Affiliates is a party that presently affects
or which would have a material adverse effect on the financial condition or
prospects or business of such Party in the fulfillment of its obligations
under this Agreement.
8. Termination
This Agreement shall be effective from the date hereof and shall continue in full
force and effect until the Financial Close of the Project is achieved under and in
accordance with the Concession Agreement, in case the Project is awarded to
the Consortium. However, in case the Consortium is either not pre-qualified for
the Project or does not get selected for award of the Project, the Agreement will
stand terminated in case the Applicant is not pre-qualified or upon return of the
Bid Security by the Authority to the Bidder, as the case may be.
9. Miscellaneous
9.1 This Joint Bidding Agreement shall be governed by laws of {India}.
9.2 The Parties acknowledge and accept that this Agreement shall not be amended
by the Parties without the prior written consent of the Authority.
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Page 6
IN WITNESS WHEREOF THE PARTIES ABOVE NAMED HAVE EXECUTED AND
DELIVERED THIS AGREEMENT AS OF THE DATE FIRST ABOVE WRITTEN.

For and on behalf of
LEAD MEMBER by: SECOND PART
(Name) (Name)
(Address) (Address)
For and on behalf of For and on behalf

THIRD PART FOURTH PART
(Name) (Name)
(Address) (Address)
In the presence of:

1. 2.
59
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Notes:
1. The mode of the execution of the Joint Bidding Agreement should be in
accordance with the procedure, if any, laid down by the Applicable Law and
the charter documents of the executant(s) and when it is so required, the
same should be under common seal affixed in accordance with the required
procedure.
2. Each Joint Bidding Agreement should attach a copy of the extract of the
charter documents and documents such as resolution / power of attorney in
favour of the person executing this Agreement for the delegation of power
and authority to execute this Agreement on behalf of the Consortium
Member.
3. For a Joint Bidding Agreement executed and issued overseas, the
document shall be legalised by the Indian Embassy and notarized in the
jurisdiction where the Power of Attorney has been executed.
60
APPENDIX V
Guidelines of the Department of Disinvestment
(Refer Clause1.2.1)
No. 6/4/2001-DD-II
Government of India
Department of Disinvestment
Block 14, CGO Complex
New Delhi.
Dated 13th July, 2001.
OFFICE MEMORANDUM
Sub: Guidelines for qualification of Bidders seeking to acquire stakes in Public Sector
Enterprises through the process of disinvestment
Government has examined the issue of framing comprehensive and transparent

guidelines defining the criteria for bidders interested in PSE-disinvestment so that the
parties selected through competitive bidding could inspire public confidence. Earlier,
criteria like net worth, experience etc. used to be prescribed. Based on experience and
in consultation with concerned departments, Government has decided to prescribe the
following additional criteria for the qualification/ disqualification of the parties seeking to
acquire stakes in public sector enterprises through disinvestment:
(a) In regard to matters other than the security and integrity of the country, any
conviction by a Court of Law or indictment/ adverse order by a regulatory
authority that casts a doubt on the ability of the bidder to manage the public
sector unit when it is disinvested, or which relates to a grave offence would
constitute disqualification. Grave offence is defined to be of such a nature that
it outrages the moral sense of the community. The decision in regard to the
nature of the offence would be taken on case to case basis after considering
the facts of the case and relevant legal principles, by the Government of
India.
(b) In regard to matters relating to the security and integrity of the country, any
charge-sheet by an agency of the Government/ conviction by a Court of Law
for an offence committed by the bidding party or by any sister concern of the
bidding party would result in disqualification. The decision in regard to the
relationship between the sister concerns would be taken, based on the
relevant facts and after examining whether the two concerns are substantially
controlled by the same person/ persons.
(c) In both (a) and (b), disqualification shall continue for a period that
Government deems appropriate.
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Page-2
(d) Any entity, which is disqualified from participating in the disinvestment

process, would not be allowed to remain associated with it or get associated
merely because it has preferred an appeal against the order based on which
it has been disqualified. The mere pendency of appeal will have no effect on
the disqualification.
(e) The disqualification criteria would come into effect immediately and would
apply to all bidders for various disinvestment transactions, which have not
been completed as yet.
(f) Before disqualifying a concern, a Show Cause Notice why it should not be
disqualified would be issued to it and it would be given an opportunity to
explain its position.
(g) Henceforth, these criteria will be prescribed in the advertisements seeking
Expression of Interest (EOI) from the interested parties. The interested parties
would be required to provide the information on the above criteria, along with
their Expressions of Interest (EOI). The bidders shall be required to provide
with their EOI an undertaking to the effect that no investigation by a regulatory
authority is pending against them. In case any investigation is pending
against the concern or its sister concern or against its CEO or any of its
Directors/ Managers/ employees, full details of such investigation including
the name of the investigating agency, the charge/ offence for which the
investigation has been launched, name and designation of persons against
whom the investigation has been launched and other relevant information
should be disclosed, to the satisfaction of the Government. For other criteria
also, a similar undertaking shall be obtained along with EOI.
sd/-
(A.K. Tewari)
Under Secretary to the Government of India
62
APPENDIX- VI
10. Preamble
providing food security, creating buffer stocks across the state, maintaining the
quality of stored food grains and reducing wastage. Frequent upward revisions of
the minimum support price for procurement of food grains have led to a rise in
the level of procurement over the last few years. As a result, the state is faced
with the problem of managing large stocks of food grains. It is estimated that
post-harvest losses are around 10% due to lack of modern storage facilities. This
constitutes a huge national waste in terms of food as well as public money. It is,
therefore, necessary to create additional storage capacities on a large scale and
as urgently as possible.
Government of Madhya Pradesh and its agencies (the “GoMP”) at the Minimum
Support Price (MSP) declared by the Central Government. Actual procurement of
food grains is dependent on a number of factors like MSP, market sentiment,
production, global production and prices, stocks in Central Pool and other factors
which affect prices and participation of private trade. GoMP stores the procured
grains mainly in conventional godowns and CAP storage.
respectively. Due to high procurement of foodgrains and other crops during the
last few years and insufficient covered storage space to store the procured stock,
a substantial quantity of foodgrains has to be stored on open platforms in
covered area plinth (CAP) storage. The state has a total storage requirement of
150.5 lakh MT for the agricultural produce procured by it against which the
available capacity is only 87.4 lakh MT.
supply of food grains to the public at affordable prices as well as for enhancing
food security. It is an important constituent of the strategy for poverty eradication
and is intended to serve as a safety net for the poor.
63
Governments.
foodgrains would require augmentation of modern storage facilities for ensuring
quality of the produce over a period of time. Significant investment would be
required for creation of modern storage facilities and much of it can be mobilized
through PPP.
13.2 Since storage is included in the definition of infrastructure under the VGF
scheme, it should be possible to attract private investment through PPP mode by
providing viability gap funding and extending other incentives applicable to
infrastructure projects. In this regard, GoMP has decided to create 5 lakh MT of
silo capacity in the state. Standalone Silos with a capacity 25,000/ 50,000 tonnes
will be constructed, preferably with railway sidings. The Silos will be constructed
shortage of storage capacity can be significantly resolved by creating additional
storage in Madhya Pradesh which is a decentralized procurement (DCP) state
and, therefore, procures foodgrains for its own PDS consumption rather than
obtaining it from FCI. FCI is offered the excess grain after the state has retained
sufficient stocks for its own consumption.
14.2 The private entity selected through competitive bidding would be responsible for
financing, construction, operation and maintenance of Silos, scientific
management and handling of stocks and compliance with government regulation
and applicable laws. The Silos would be established with each bin having a
capacity of about 12,500 MT.
14.3 For meeting the capital expenditure on Silos, a private entity would be eligible for
viability gap funding under the extant Central Government VGF Scheme that
allows grants of upto 20% of capital cost on the basis of competitive bidding
which would be paid during the construction period. GoMP may provide an
additional VGF of upto 20% of capital costs which would be disbursed over 5
years from COD. The total VGF grant would constitute the bidding parameter.
For storage of foodgrains at the Silos, the Concessionaire will be entitled to
receive a recurring service charge which shall be payable on adherence to
performance and maintenance standards.
15.1 PPP is essentially an arrangement where the private sector partner participates
in the provision of services traditionally provided by the government. It is usually
characterized by an agreement between the government and the private sector,
with the latter undertaking to deliver an agreed service on the payment of a
unitary charge by the government, a user charge by the beneficiaries of the
service rendered and/or an upfront capital grant. The arrangement normally
64
involves a whole-life approach where the private partner is responsible for both
construction and operation. There is also some degree of risk-sharing based on
allocation of risks to the party best suited to manage it.
about lack of storage capacity in the country leading to wastage of food grains.
Moreover, the storage available in the country is, in many cases, of poor quality
leading to spoiling of food grains after they have been procured by the
procurement agencies.
(vi) The investments required may be too large compared to available public
resources, and private capital could, therefore, enable an accelerated roll
out of modern storage capacity;
(vii) functional efficiency of private entities would enable early delivery of
quality services;
(viii) risk of project completion and delivery of agreed outputs would be
(ix) public funds would be expended only upon delivery of agreed outcomes;
and
(x) private sector efficiency in the context of a long-term agreement is
storage.
The location of Silos will be in of Sehore, Dewas, Vidisha, Bhopal, Indore, Ujjain,
Satna, Harda, Hoshangabad and Raisen.
The private entity shall be responsible for the development and maintenance of
modern and temperature-controlled Silos. It will be responsible for cleaning and
drying, de-bagging (if required), unloading, weighing, testing, storing, re-bagging,
loading and despatching the foodgrains in accordance with the terms of the
Concession Agreement. The Authority will arrange for delivery of foodgrains to
the private entity for storage and for taking delivery of foodgrains from the Silos.
5,000 per MT. This could vary depending upon region, location, size of project,
interest rates and other relevant considerations. To meet such higher costs,
where applicable, it is envisaged that the Central Government would provide up
to 20 per cent of the capital costs in the form of viability gap funding, to be
determined by competitive bidding, in accordance with the extant VGF scheme.
Further, GoMP would provide an additional VGF of upto 20% of capital costs, if
required.
65
The projects will be structured on DBFOT basis. The Concession period shall be
20 years (extendable by mutual consent for another 5 years at a time subject to a
maximum period of 10 years). For the extended concession period, the State
Government would pay storage charges on the basis of wheat handled by the
Concessionaire.
For a storage capacity of 50,000 MT, the requirement of land would be about 7
acres which would be made available by GoMP. Land would be provided on
17.6 Storage charge
Each silo bin will normally have the capacity to store not more than about 12,500
MT of foodgrains. The cost of handling shall be paid by MPWLC in the form of a
recurring storage charge which shall be stated upfront at the time of invitation of
bids. The storage charge shall be divided into two parts, viz., a Fixed Charge
which shall be payable irrespective of the quantum of foodgrains actually handled
and a Variable Charge linked directly to the quantum of foodgrains handled.
The Variable Charge shall be linked to the quantum of foodgrains handled and
stored. A rate of Re. 0.50 per qtl. per month, as on April 1, 2012, is proposed be
paid on a monthly basis for storage and preservation of the grain stored in the
Silos. Both the Fixed and Variable Charges shall be linked to variation in
Wholesale Price Index (WPI).
Based on the actual handling of foodgrains in the Silos, separate charges shall
be payable towards associated services such as unloading, testing, weighing,
debagging, bagging and loading of food grains. In case, the foodgrains supplied
by the Authority do not meet the storage specifications, the Concessionaire shall
be entitled to reject such foodgrains and the Authority would transport such
foodgrains from the Concessionaire’s premises at its own cost. However, the
Authority shall have the option of getting the foodgrains cleaned/ dried at the site
to ensure that the foodgrains meet the storage specifications. Payment for each
of these services shall be made at par with the charges payable by the Ministry
of Food & Public Distribution, GoI to procuring agencies for providing similar
services within the State. If no such rate is available, the same shall be
determined mutually with the assistance of the Independent Expert, substantially
in line with current market prices. No payment shall be made if any of these
services is not undertaken by the Concessionaire.
Further, in case the Silo is declared a procurement centre / mandi, the relevant
charges/commission payable to such procurement agencies in accordance with
extant instructions of GoI shall also be payable to the Concessionaire.
66
payable only if the Silos conform to the relevant standards and specifications and
the foodgrains are maintained at the specified quality level.
The disbursements under this scheme shall be linked to the provision of specified
infrastructure and delivery of Key Performance Indicators. A pre-determined
system of incentives and penalties will be specified based on the key
performance indicators. The output parameters would be developed in
Agreement.
The storage charges during the operations period would be payable for a period
of 10 years in accordance with the above scheme. Upon completion of 10 years,
the Authority may utilise one or more bins at its discretion. For this purpose, the
Authority shall, with prior notice of at least 6 months, reserve one or more bins for
a period not less than one year and upon such reservation, the Authority shall be
liable to payment of storage charges for such bin(s) in accordance with the
provisions of this Agreement. Accordingly, the Authority shall be liable for
payment of Storage Charges for the aforesaid period of 10 years and for the bins
specifically reserved thereafter. The Concessionaire shall be free to use the
unreserved bins in such manner as he deems fit.
shall be signed between the government and the selected private entity. This will
enable the private entity to raise funds from the financial institutions for meeting
its capital expenditure. The Concession Agreements will specify the over-arching
principles while sufficient flexibility would be provided to private entities to
manage their respective Silos in conformity with the geographical requirements
of different regions. Regular monitoring would be undertaken by the government
for enforcing the provisions of the Concession Agreement. The key features of
the concession agreement would be:
67
purpose. Private sponsors for these Silos would, therefore, be selected on the
basis of a transparent and fair selection process that would ensure selection of
experienced and motivated entities. The selection would be a two-stage
selection process. In the first stage, private entities will be short-listed based on
proven track record or capacity to establish and manage the facility and net
worth. A private entity would be eligible for short-listing for a 50,000 MT silo if he
has experience of having worked in the infrastructure sector and a Net-worth of
Rs. 30 crore. Some weightage would be accorded for experience in the
agricultural industry. This criterion may be lowered for smaller Silos.
17.12.2 From amongst the short-listed bidders, the selection of the private entity will be
based on financial bids based on the lowest offer for viability gap funding (VGF).
There may be cases where the successful bidder does not require any VGF and
instead offers a service charge lower than the standard charge. In such a
situation, the bidder seeking the lowest service charge will be selected.
announced before inviting applications under this scheme. The evaluation and
scoring would be carried out by the Authority. The selection criteria and its
application would be fair and transparent so that in addition to ensuring that the
best available applicants are selected, the selection process also enhances the
confidence of the civil society in this initiative.
followed for this scheme. At the end of the concession period, the Silos would be
transferred to the Authority. The concessionaire would be responsible for
financing, constructing and maintaining the physical infrastructure of the storage
and for managing it in accordance with laid down parameters and key
18.1 The Concession Agreement would be enforced by regular inspections, audit and
monitoring for quality assurance. There would be stiff penalties for violation of the
agreement or for shortfalls in key performance indicators coupled with incentives
for better performance. The key performance indicators would include relevant
benchmarks for preservation of foodgrains.
regular reporting of outcomes which will be closely monitored by the government
besides appropriate tests, inspections and surveys. Since payment to the private
entity will be based on output parameters, a close monitoring thereof would be
ensured. Detailed arrangements for regular monitoring including online
availability of data would be spelt out and enforced as part of the concession
framework.
68
APPENDIX- VII
LIST OF BID-SPECIFIC CLAUSES$
A. Clauses and appendices with non-numerical footnotes

2. Clause 2.2.2 (B): Eligibility of Applicants: Financial Capacity
3. Clause 2.2.4 (i): Eligibility of Applicants
4. Clause 2.10.3 : Amendment of RFQ
5. Clause 2.19.1 (g): Tests of responsiveness
6. Clause 3.2.1 (ii): Technical Capacity for purposes of evaluation
8. Appendix I, Annex-I: Details of Applicant (Table to Para 5(c))
9. Appendix I, Annex-II: Technical Capacity of the Applicant
10. Appendix I, Annex-III: Financial Capacity of the Applicant
11. Appendix I, Annex-IV: Details of Eligible Projects
12. Appendix I, Annex-IV: Details of Eligible Projects:
(i) Certificate from the Statutory Auditor regarding PPP projects
(ii) Certificate from the Statutory Auditor/ Client regarding construction works,
and
(iii) Certificate from Statutory Auditor/ Company Secretary regarding Associate
13. Appendix IV: Joint Bidding Agreement: Recital, Para 4
14. Appendix VI: List of Bid-specific clauses
B. Clauses and appendices with curly brackets

2. Appendix I: Letter Comprising the Application for Pre-Qualification: Para 22
3. Appendix I, Annex I: Details of Applicant (Table to Para 5(c), Column 3)
4. Annex-IV, Appendix I: Form of Certificate from the Statutory Auditor/ Client
regarding construction works
5. Appendix IV: Joint Bidding Agreement
C. Clauses and appendices with blank spaces

Auditor regarding PPP project.
Auditor/ Client regarding construction works
$
This Appendix-VI contains a list of clauses and ap pendices that would need to be suitably modified fo r
reflecting applicant-specific provisions. This Appe ndix-VI may, therefore, be included in the RFQ
document to be issued to prospective Applicants. Th e blank spaces in Appendices may be filled up by
the Applicant and the footnotes may be deleted when it submits its Application
69
4. Appendix I, Annex-IV: Details of Eligible Projects: Certificate from Statutory
Auditor/ Company Secretary regarding Associate
5. Appendix I, Annex-V: Statement of Legal Capacity
6. Appendix II :Power of Attorney for signing of Application
7. Appendix III: Power of Attorney for Lead Member of Consortium
8. Appendix IV: Joint Bidding Agreement: Recitals
70
BHOPAL
NIT No./MPWLC/Constn./e-Tender/2013/8507 Bhopal, Dated 07-03-2013
NOTICE INVITING TENDERS (IInd Call)
at different locations in the state in the prescribed proforma till 14 March, 2013,
17:00 hours The tender documents can be obtained online as per the Key Dates
mpwarehousing.com.
of deterioration.
"MPWLC payable at Bhopal" latest by 14.03.2013., 17:00 hrs. The offers will be
opened on 15th march,2013 at 11:00 hrs.

Managing Director
1

For

150 MT of wheat.
bags.
atleast 2 years.
India :-
A.
2
quintal
B.
society) quintal
C.
bags.
in silo bag.
1,00,000/- in favour of "MPWLC payable at Bhopal" latest by 28.02.2013.
3
Managing Director
4
BAGS
7. The IInd party will produce the bill of monthly storages charges to Ist party.
MPSCSC.
for this purpose.
5
wheat time to time.

agreement.
2. The Ist party will counter sign on the warehouse receipt issued by IInd party
party.
estimated quantity.
6
make free this land and handover to Ist party in the same condition as it
rules.
7
17. (a) The IInd party will deposit the amount equivalent to three months
storage charges to Ist IIIrd party as guarantee. After the expiry of the
nd
21. The IInd party will appoint a representative at local level to liaise with Ist and
facilities.
of India.

rates.
3. IIIrd party will provide gunny bags to the IInd party.
years of storage.
government.
8
Other Conditions
on all the parties.

9
ANNEXURE-A
FINANCIAL PROPOSAL
(Form-1)
Covering Letter
To,
*****
*****
*****
Dear Sir,

Yours faithfully,
10
ANNEXURE-A
(Form-2)
Financial Proposal

District Location
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Yours faithfully,

11
Annexure - C
Details of Locations for providing services for Scientific and Safe Storage of
Proposed Capacity
for Silo Bags
Huzur / Jhangariya Misrod 53000
Huzur / Mungalia Kot 32000
1 Bhopal Berasia / Bari Chirkheda 47000
Berasia / Semri (Harrakheda) 34000
Sub Total 166000
Sehore / Sangrampur 34000
Sehore / Janpur Babadiya 15000
Shyampur / Imalia Hasan 54000
Shyampur / Shyampur 41000
Ashta / Kothri 30000
2 Sehore
Ichawar / Kasba Ichawar 54000
Budni / Mardanpur 57000

Budni / Jawaharkheda 52000
Sub Total 337000
Rajgarh / Sunderpura 12000
3 Rajgarh Pachore / Saredi, Mitthanpur 25000
Sub Total 37000
Goharganj / Rojakdhachak 18000

4 Raisen
Goondrai 34000
Sehatganj 54000
Sub Total 106000
Vidisha / Pathari Haveli 14000
Vidisha / Dhanora Haveli 60000
5 Vidisha
Ganjbasoda / Pathari Basoda 35000
Sub Total 109000
Babai / Sukkarbada 51000
Babai / Aari 123000
Bankhedi / Umardha 47000
6 Hoshangabad
Banapura / Shivpur 50000
Sohagpur / Sausar Kheda 39000
Sub Total 310000
12
S.No. District Location Proposed Capacity for Silo Bags
Khirkiya / Khimlay 50000

Harda / Sultanpur 36000
7 Harda
Harda / Aabgao Khurd 40000
Sub Total 126000
Badoda 77000
Premser 66000
8 Sheopur Dantrda 31000
Nagda 61000
Sub Total 235000
9 Shivpuri
Kolaras / Behta 71000
Sub Total 71000
Badwara / Majgaon 28000
10 Katni Bahoriband / Bahoriband 30000
Sub Total 58000
Seoni / Katiya 32000
11 Seoni Kewlari / Sathai 36000
Sub Total 68000
Bohani 36000
12 Narsinghpur
Sub Total 36000
Chhindwara 29000
13 Chhindwara
Sub Total 29000
Sardarpur 28000
Dharampuri / Dhamnod 27000
Kuchi / Talanpur 23000
14 Dhar
Sub Total 78000
Nagod / Mohari 7000

15 Satna
Uchera Mauja Athar 17000
Sub Total 95000
16 Rewa
Sub Total 138000
13
Proposed Capacity
for Silo Bags
Dewas / Jaitpura 21000
Dewas / Bilabali 24000
Satwas / Lahorda (Kotkheda) 28000
17 Dewas Khategaon / Sannaud
47000
(Harangaon)
Khategaon / Nemawar 8500
Sub Total 128500
18 Ujjain Ghattiya / Dablagauri 34000

Mahidpur / Mahidpur (Delchibujurg) 28000
Sub Total 62000
Shajapur / Baksukhedi 67000
Agar / Agar (Puragram Urf) 34000
19 Shajapur Kala Pipal / Kala Pipal (Mahua
Khedi)
24000
Sub Total 125000
Datia / Noner 32000
20 Datia
Sub Total 32000
Gwalior / Gadi 25000
Dabra / Picchore (Navodaya
17000
Vidyalaya)
Dabra / Dabra Mandi 41000
21 Gwalior
Chinnore 26000
Karhiya 18000
Sub Total 127000

22 Jabalpur Jamunia / Bargi 51000
Sub Total 161000
Indore Sugar Factory, Barlai 64000
23 Indore
Sub Total 64000
Guna / Bajrangarh 71000
24 Guna
Sub Total 71000
14
Silo in Vidisha, Madhya
Pradesh
Feasibility Report
May 2013
Confidential
Silo in Vidisha, Madhya
Pradesh
Report_Vidisha.doc
22 May 2013
Feasibility Report
May 2013
Confidential
Setting up of Steel Grain Silo in Vidisha, Madhya Pradesh
Confidential

Planning Commission
other parties

commissioned it.
Confidential
Content
1. Introduction 1
1.1 Report content _____________________________________________________________________ 1
3.3.2 Movement of grain in the proposed Silo facility at Vidisha ____________________________________ 9
4.4 Connectivity ______________________________________________________________________ 11

5.3 Mandi Arrivals _____________________________________________________________________ 22
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5.4 Procurement ______________________________________________________________________ 25

6.2 Storage Gap Assessment in Vidisha District _____________________________________________ 32

7.1 Project Cost ______________________________________________________________________ 34
Source: MM Analysis & Assumptions _____________________________________________________________ 34
Source: MM Analysis & Assumptions _____________________________________________________________ 34
7.1.6 Contingencies _____________________________________________________________________ 39
7.2 Means of Finance __________________________________________________________________ 40

8.1 Assumptions ______________________________________________________________________ 41
8.1.2.2 Operating Days ___________________________________________________________________ 41
8.1.4.1 Power Cost _______________________________________________________________________ 44
8.1.4.2 Manpower Cost ___________________________________________________________________ 44
8.1.4.4 Fumigation Cost ___________________________________________________________________ 45
8.1.4.6 Insurance Cost ____________________________________________________________________ 46
8.1.4.8 Depreciation ______________________________________________________________________ 46
8.1.4.9 Taxation _________________________________________________________________________ 47
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Confidential
9.1 Change in Capex __________________________________________________________________ 48
9.3 Change in Opex ___________________________________________________________________ 49
F.1. Buhler ___________________________________________________________________________ 67
F.2. Scafco __________________________________________________________________________ 75
F.3. Agrosaw _________________________________________________________________________ 84
Tables
Table 5.3: Wheat Production in Vidisha (2003-04 to 2011-12) ________________________________________ 20
Table 5.5: Mandi Arrivals in Vidisha (2002-03 to 2012-13) ___________________________________________ 23
Table 5.7: Procurement of Wheat in Vidisha (2003-04 to 2012-13)_____________________________________ 27
Table 6.4: Storage Facilities in Vidisha (as on 28-09-2012) __________________________________________ 31

Confidential

Table 8.9: Tax Rates ________________________________________________________________________ 47
Figures
Figure 0.1: Location Map ______________________________________________________________________ vii
Figure 4.1: Location Map _____________________________________________________________________ 10
Figure 5.3: Wheat Production in Vidisha (2002-03 to 2012-13*) _______________________________________ 21
Figure 5.5: Mandi Arrivals of Wheat in Vidisha (2002-03 to 2012-13) ___________________________________ 24
Figure 5.7: Wheat Procurement in Vidisha (2003-04 to 2012-13) ______________________________________ 28
iv320162/MCB/ISA/AA/01 22 May 2013

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v320162/MCB/ISA/AA/01 22 May 2013

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vi320162/MCB/ISA/AA/01 22 May 2013

Confidential
Executive Summary
capacity of 50,000 MT has been considered at the proposed site in Vidisha. This facility would have 4 bins,
Pathri Haveli village having an area of about 7 acres (following map). The proposed site is about 9.50 KM
from the nearest rail head. The 8 KM stretch of Pradhan Mantri Gram Sadak Yojna (PMGSY) road from the
rail head will connect to the site. Approach road of about 1.50 KM is required to be built, giving the site an
advantage in rail/road connectivity. The procurement centres are within the range of 20 kms of the site and
have a total procurement capacity of about 50,000 MT of wheat.
Proposed Site, Village: Pathari Haveli
years in Madhya Pradesh. The same trend is noted in the Vidisha district as well.
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Contingency 150.04
Margin Money 8.73
tabulated as:

Equity 1018.60 30.00%
vii 320162/MCB/ISA/AA/01 22 May 2013

i
Confidential
Revenue Assumptions
Revenues (2013)
Commission Charges quantity handled

Equity IRR 12.39% -
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Base
(INR lakhs) 3395.34 3055.80 2716.27 2546.50 2376.73 2206.97 2037.20
Project IRR 11.04% 12.08% 13.32% 14.03% 14.83% 15.74% 16.79%
Equity IRR 12.39% 14.01% 16.07% 17.35% 18.87% 20.75% 23.12%
DSCR 0.88 0.98 1.09 1.16 1.24 1.33 1.43
Source: MM Analysis
required.
Project IRR 11.04% 10.43% 9.75% 9.39% 8.55% 8.08%
Equity IRR 12.39% 11.58% 10.65% 10.16% 9.00% 8.36%
DSCR 0.88 0.88 0.88 0.88 0.88 0.88
Payback Period 10.92 11.05 11.24 11.36 11.71 11.98

0% 10% 20% 25% 30% 35% 40%
100% 12.39% 14.01% 16.07% 17.35% 18.87% 20.75% 23.12%
after 10 years 80% 10.29% 11.86% 13.92% 15.22% 16.77% 18.68% 21.09%
75% 9.65% 11.21% 13.27% 14.57% 16.13% 18.04% 20.47%
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60% 7.28% 8.81% 10.83% 12.13% 13.70% 15.65% 18.17%
20%.
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1. Introduction


This is the Feasibility Report of the Silo Project for Vidisha for the
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heads:



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years.
! "
! "
facility at Vidisha would be 50,000 MT. It is proposed that the facility will

# " $ %

process
• Land allotment




monitored Silos.

320162/MCB/ISA/AA/01 22 May 2013

Confidential


320162/MCB/ISA/AA/01 22 May 2013

Confidential
! & '


period. In genera,l the grain can be kept safely in godowns until 16-
18 months.



! (

320162/MCB/ISA/AA/01 22 May 2013

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also available.

!! " ( "



Source: MM Research
320162/MCB/ISA/AA/01 22 May 2013

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equipment.
!! % % "

320162/MCB/ISA/AA/01 22 May 2013

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Depot Bagging
Debagging

Storage
Despatch – Chain
Conveyor, Bucket
Dispatch


storage point
godowns for storage
for issue to PDS
Source: MM Analysis
320162/MCB/ISA/AA/01 22 May 2013

Confidential
!! ) % " *
facility.

Mechanized Receipts
Wheat - Farmers
Weighing
Storage
Dispatch – Chain
Conveyor, Bucket
Trucks for Further
Dispatch Bagging
Source: MM Analysis

as an Annexure G.
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Confidential
# +
Vidisha is one of locations for the proposed Silo facilities in Madhya

MT capacity is located in the Pathari Haveli village on an area of about
7 acres. The detailed address of the site is as follows:
Patwari Halka No. 65, Khasra No. 224/2, Village Pathari Haveli,
Vidisha, Madhya Pradesh.

below:
Proposed Site, Village: Pathari Haveli
# ' " ' , '% - %
The proposed site land of 7 acres in Pathari Haveli village has been
allotted to MPWLC and the possession of the same has been taken by
MPWLC. The documents pertaining to the land agreement/allotment
are attached as Appendix A. This land will be provided by MPWLC to
the developer for setting up the Silo in the premises.
#! .
MW. As informed by the MPWLC representative, Mr. D.K. Jain (Branch
available from the nearest transformer within 1 Km from the site.
However, the transformer is required at the project site for further
connectivity to the silo facility.
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at the site.
##

The Branch Manager of MPWLC at Vidisha, Mr. Vasudev Davande has

provided the details that the proposed site is about 9.50 kms from the
also in place. The rail head is connected by 8.00 km stretch of Pradhan
the site an advantage in rail connectivity. However, 1.50 km stretch of
approach road is required to be connected to the rail head.
Also, the national highway (NH 86) is approximately 7 kms from the
National Highway upto 5.50 kms. The distance from proposed site
boundary to PMGSY road is 1.50 km where no connectivity is available.
The developer needs to consider the development / augmentation as
matter.

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Vidisha Jaitpur
Procurement Khavu Khedi Devkhajuri

Centres within 20 Pipalkheda Imaliya
kms radius of Silo
Ahmadpur Dawar
Sauthar Karela
Dhanva Khamtala
Karaikheda Peirwara
Rail Head / NH
8.00 kms PMGSY Road 5.50 Kms
Ends 1.5km from Site

1.50 Km – No connectivity
Transportation
Source: MM Analysis
procurement centres which are in 20 kms range of the proposed site
are tabulated below:

Vidisha Sauthar Devkhajuri
Khavukhedi Dhanva Imaliya
Pipal Kheda Karaikheda Dawar
Ahmadpur Jaitpur Karela
Khamtala Pairwara -
Source: MPWLC
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/ 0 "'

below:
State Farmers Field

Production

Markfed

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Source: MM Analysis


location.
/ 0 '
/ " + "


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(%) (%)
2002-03 3381 4923 1456 -
2003-04 4091 7365 1800 49.60% 23.6
2004-05 4200 7327 1745 -0.52% -3.1
2005-06 3785 6200 1638 -15.38% -6.1
2006-07 4275 7848 1836 26.58% 12.1
2007-08 4101 6737 1643 -14.16% -10.5
2008-09 4010 7280 1815 8.06% 10.5
2009-10 4471 8873 1985 21.88% 9.3
2010-11 4645 9227 1986 3.99% 0.1
2011-12 4901 12703 2592 37.67% 30.5
2012-13 5434 16104 2964 26.77% 14.3

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18
16.1
16
14
Production (in MMT)
12.7
12
10 8.9 9.2
7.4 7.8
7.3
8 6.2 6.7 7.3
6
4
2
0
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year


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• 2009-10: 10.62%
• 2011-12: 18.69%
• 2012-13: 14.28%
crops:

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• Seed treatment
• Weed control


the soil

increase

of INR 150/quintal.

2012-13.


Pradesh:
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(In Lakh Ha)
2000-01 7.36 -
2001-02 9.40 27.72%
2002-03 7.69 -18.19%
2003-04 10.07 30.95%
2004-05 10.35 2.78%
2005-06 10.13 -2.13%
2006-07 9.37 -7.50%
2007-08 9.48 1.17%
2008-09 9.71 2.43%
2009-10 8.87 -8.65%
2010-11 9.76 10.03%
2011-12 16.34 67.42%
2012-13 20.21 23.66%

below.
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connection.
/ + "
The wheat production of Vidisha district for the last 10 years is as

tabulated below.
Table 5.3: Wheat Production in Vidisha (2003-04 to 2011-12)

2002-03 0.309
2003-04 0.333
2004-05 0.335
2005-06 0.311
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2006-07 0.000
2007-08 0.202
2008-09 0.260
2009-10 0.370
2010-11 0.342
2011-12 0.402
2012-13* (proj.) 0.414
The following graph depicts the trend in wheat production in Vidisha
Figure 5.3: Wheat Production in Vidisha (2002-03 to 2012-13*)
0.45
0.40 0.41
0.4
0.33 0.37
0.35 0.34 0.34
0.31 0.31
Production (in MMT)
0.3
0.26
0.25
0.20
0.2
0.15
0.1
0.05
0
2002-03 2003-04 2004-05 2005-06 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13*
Year

The short term (2008-09 to 2012-13) CAGR for Vidisha district is about
320162/MCB/ISA/AA/01 22 May 2013

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year trend of production in Vidisha that the production has suddenly

/! )

/! " + "

2003-04 2.456 18.10%
2004-05 3.809 55.07%
2005-06 3.136 -17.67%
2006-07 3.037 -3.13%
2007-08 4.769 57.02%
2008-09 4.990 4.62%
2009-10 4.355 -12.72%
2010-11 6.098 40.02%
2011-12 8.234 35.03%
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2012-13 9.883 20.03%

2003-04 to 2012-13.

12.00
9.88
10.00
8.23
8.00
6.10
6.00
4.77 4.99
4.36
3.81
4.00 2.46 3.14 3.04
2.00
0.00
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
/! + "
The Mandi Arrivals of Vidisha district for the last 10 years is as

tabulated below
Table 5.5: Mandi Arrivals in Vidisha (2002-03 to 2012-13)

2002-03 0.093 -
2003-04 0.123 32.21%
2004-05 0.167 36.38%
2005-06 0.151 -9.73%
2006-07 0.120 -20.53%
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2007-08 0.156 29.81%
2008-09 0.126 -19.25%
2009-10 0.116 -7.65%
2010-11 0.240 106.96%
2011-12 0.339 41.25%
2012-13 0.423 24.73%
The short term CAGR (2008-09 to 2012-13) for Vidisha district is about
wise Mandi Arrivals for Vidisha district for period 2002-03 to 2012-13.
Figure 5.5: Mandi Arrivals of Wheat in Vidisha (2002-03 to 2012-13)
0.45
0.423
0.4
0.339
0.35
0.3
0.25
0.24
0.2 0.167
0.12 0.156
0.15 0.123 0.151 0.126 0.116
0.1
0.05 0.093
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Vidisha district have increased steeply over the last 4 years.

Appendix C.
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/# ' %

/# " + "


MMT)
2003-04 0.200 -44.50%
2004-05 0.349 74.34%
2005-06 0.484 38.77%
2006-07 0.000 -
2007-08 0.057 -88.12%
2008-09 2.410 4092.61%
2009-10 1.967 -18.37%
2010-11 3.538 79.83%
2011-12 4.965 40.35%
2012-13 8.508 71.35%
Source: MPSCSCL

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9
8.508
8
7
5 4.965
4
3.538
3
2.41 1.967
2
1 0.2 0.484
0.349 0.057
0
0
2006-07
2003-04
2004-05
2005-06
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
/# + "

procurement by State Agencies in Vidisha district for the last 10 years is
as tabulated below.
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Table 5.7: Procurement of Wheat in Vidisha (2003-04 to 2012-13)

2002-03 0.001
2003-04 0.000
2004-05 0.002
2005-06 0.007
2006-07 0.000
2007-08 0.000
2008-09 0.023
2009-10 0.019
2010-11 0.079
2011-12 0.135
2012-13 0.325
Source: MPSCSCL


the State agencies in the Vidisha district is about 93.76% which shows
depicts wheat procurement in Vidisha district over the period 2003-04 to
2012-13
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Figure 5.7: Wheat Procurement in Vidisha (2003-04 to 2012-13)

0.35
0.325
0.3
0.25
0.2
0.135
0.15
0.1 0.079
0.019
0.05
0.001 0 0.002 0.007 0 0
0.023
0
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
Year
Source: MPSCSCL
// "'%% 0 "

following table.

State Vidisha State Vidisha State Vidisha
2002-03 4.923 0.309 - 0.093 - 0.001
2003-04 7.365 0.333 2.456 0.123 0.200 0.000
2004-05 7.327 0.335 3.809 0.167 0.349 0.002
2005-06 6.200 0.311 3.136 0.151 0.484 0.007
2006-07 7.848 0.000 3.037 0.120 0.000 0.000
2007-08 6.737 0.202 4.769 0.156 0.057 0.000
2008-09 7.280 0.260 4.990 0.126 2.410 0.023
2009-10 8.873 0.370 4.355 0.116 1.967 0.019
2010-11 9.227 0.342 6.098 0.240 3.538 0.079
2011-12 12.703 0.402 8.234 0.339 4.965 0.135
2012-13 16.104 0.414 9.883 0.423 8.508 0.325
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These are:
Corporations


Agency Name 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
MPWLC 10.47 10.97 11.29 11.47 11.61 11.66 11.86
CWC 4.52 4.52 4.56 4.56 4.56 4.56 4.56
MARKFED 5.06 5.06 5.29 5.29 5.43 5.43 5.43
FCI 3.29 3.29 3.29 3.29 3.29 3.29 3.29
MANDI BOARD 2.57 2.57 2.62 2.62 2.62 2.62 2.62
CO-OPERATIVE SO. 4.63 4.63 4.63 4.63 4.63 4.63 4.63
LVS 2.92 2.92 4.00 4.00 4.00 4.00 4.00
OILFED 2.07 2.07 2.07 2.07 2.07 2.07 2.07
M.P.AGRO 0.31 0.31 0.31 0.31 0.31 0.31 0.31
NAFED 0.15 0.15 0.15 0.15 0.15 0.15 0.15
godon scheme) 18.64 26.23 33.51 39.56 44.90 53.13 69.08
RIDF MPWLC - - - - - - -
PEG godown (Prt.) - - - - - - -
PIG (SILO) - - - - - - -
MPWLC (SILO) - - - - - - -
PACAKAGE - - - - - - -
IAP - - - - - - -
Total 54.63 62.72 71.72 77.95 83.57 91.85 108.00
capacity (%) 14.81% 14.35% 8.69% 7.21% 9.91% 17.58%
Source: MPWLC
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(in Lakh Tonnes)
of 2014-15
MPWLC 6.23 18.09
CWC 1.30 5.86
MARKFED - 5.43
FCI - 3.29
MANDI BOARD - 2.62
LVS - 4.00
OILFED - 2.07
M.P.AGRO - 0.31
NAFED - 0.15
PIG (SILO) 3.50 3.50
PACAKAGE 6.50 6.50
IAP 1.80 1.80
(Early Bird) 15.00 15.00
Total 61.18 169.18
Source: MPWLC

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tabulated below:

Agency 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Name 2014-15
MPWLC 19% 17% 16% 15% 14% 13% 11% 21% 27%
CWC 8% 7% 6% 6% 5% 5% 4% 4% 3%
MARKFED 9% 8% 7% 7% 6% 6% 5% 4% 3%
FCI 6% 5% 5% 4% 4% 4% 3% 2% 2%
MANDI
BOARD 5% 4% 4% 3% 3% 3% 2% 2% 2%
Co-Op. Soc. 8% 7% 6% 6% 6% 5% 4% 3% 3%
Private 34% 42% 47% 51% 54% 58% 64% 55% 50%
Others 10% 9% 9% 8% 8% 7% 6% 9% 11%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Source: MPWLC
Agency wise present storage facilities in the district of Vidisha are

tabulated below.
Table 6.4: Storage Facilities in Vidisha (as on 28-09-2012)

(in MT)
1 WLC 44150
2 FCI 10000
3 CWC 0
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(in MT)
4 Markfed 18000
5 Olifed 0
6 Private 278189
7 Mandi Board 4500
Total 370889
Source: MPWLC
1 " $ % *

Vidisha.

production in Vidisha about 75% of the wheat was traded at mandis.




2011-12 (actual) 402100 339373 370889 -31516
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2012-13 414085 414085 436102 -22018
2013-14 424248 424248 559624 -135376
2014-15 434661 434661 683146 -248486
2015-16 445329 445329 683146 -237817
2016-17 456259 456259 683146 -226887
2017-18 467458 467458 683146 -215689
2018-19 481482 481482 683146 -201665
2019-20 495926 495926 683146 -187220
2020-21 510804 510804 683146 -172343
2021-22 526128 526128 683146 -157019
2022-23 541912 541912 683146 -141235
2023-24 557681 557681 683146 -125465
2024-25 573910 573910 683146 -109237
2025-26 590611 590611 683146 -92536
2026-27 607797 607797 683146 -75349
2027-28 625484 625484 683146 -57662
2028-29 643686 643686 683146 -39461
2029-30 662417 662417 683146 -20729
2030-31 681694 681694 683146 -1453
2031-32 701531 701531 683146 18384
2032-33 721945 721945 683146 38799
Source: MM Analysis
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Land 0.70
Contingency 150.04
Margin Money 8.73
2 + + %

table below.

Quantity
Land 7.00 0.00 0.00
Cost 0.70
2 3' 0
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Cu.m 8400 11000 924.00
Grade - M30)
External Approach Road (CC Road - 16 mtr wide) Kms 1.50 20000000 300.00
Sqm 2266 3000 67.98
concrete paved area
Sqm 1000 2500 25.00
coat
Sqm 500 2000 10.00
water
2 ! )
MT each.

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imported 580.63 884.72 975.17
844.00 884.72 1103.31
Import Duty 10% 58.06 88.47 97.52
CST 2.0% 5.27 0.00 2.56
Inland Freight 3.0% 17.42 26.54 29.26
Total P & M Cost *966.95 1043.97 1287.81


Savings due
Aeration System 54066 2973630 0% 2973630 0%
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Savings due
Centrifugal Fan 30686 1687752 30% 1181426 30%
Others 4048 222662 0% 222662 0%
4 Roof Exhausters 19879 1093323 0% 1093323 0%
7 (Wheat)**
Sweep Auger 33054 1817992 30% 1272594 30%
Others 6867 377663 0% 377663 0%
4 95450 5249764 25% 3937323 25%
TPH Wheat 67100 3690484 30% 2583338 30%
Dust Silo DB1 -63.3m3 14896 819253 30% 573477 30%
E2 78962 4342883 35% 2822874 35%
Others 24142 1327818 35% 863082 35%
Total 1675840 92171222 84399633
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Savings due
CST 2.0% 526730

2 # 4 , ' % .

Other Utilities
DG sets Nos. 2 2000000 40.00
- connection cost
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Other Utilities
process flow
Utilities
2 / %


2 1

2 2 ) ) 0

assumptions:
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Debtors 1 -
Stores & Spares 3 -
Bank Finance 75%

Lakhs.
2 ) 5



Lakhs) TPC)
Equity 1018.60 30.00%

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6 '%

6 3 '%
concession period
Commission shall be paid on 100% utilization of facilities over the
complete project life..
6 '%

year.


Rate of Basis
Escalation
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Rate of Basis
Escalation

2011-2012 156.13
2010-2011 143.32
2009-2010 130.81
2008-2009 126.02
2007-2008 116.63
2006-2007 111.35
2005-2006 104.47
CAGR 5.91%
6 ! ' '%

Charge.


Revenues (2013)
Commission Charges quantity handled
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Revenues (2013)

Concession.
Also, separate charges shall be paid by government towards expenses

incurred for associated services such as loading, unloading, testing,
weighing, bagging and debagging of food grains at actual which are
estimated at Rs. 9.12 per quintal for base case as per the break up
Note: Commission charges are being paid by the government on the

value of actual quantity of grains handled for government by the silo
operator. So revenues from commission charge would primarily depend
on quantity handled for the government from the proposed silo.
However for this project the government has not given any commitment
for usage of silo facilities after 10 years of guaranteed period. Hence
revenues from commission charge may vary during operations of the
project and may affect the financial feasibility of the project. However,
for base case evaluation in due discussion with MPWLC, 1% of
commission charge as revenues has been considered.
6 # '%

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8.1.4.1 Power Cost


Load Factor 21%

table below:

Cost Total Cost
Manpower Category
Clerks 1 144000 1.44
Peons 2 72000 1.44
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Rs./quintal 2.00
weighment
Rs./quintal 3.00
bags
Source: MM Analysis

India.


Duration Unit Value
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below:

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8.1.4.9 Taxation


Tax Rates Rates
Income Tax 32.45%
MAT 20.01%
same.
6 / 5

ROCE.

Equity IRR 12.39% -
DSCR 0.88 Times
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7 8


Change in Capex 0% 5% 10% -5% -10%
Project IRR 11.04% 10.56% 10.10% 11.54% 12.12%
Equity IRR 12.39% 11.69% 11.04% 13.14% 14.02%
DSCR 0.88 0.83 0.78 0.93 1.00
Source: MM Analysis

in the above table.
7 '

handling of grains, Fixed and variable charges collected from the users
of the facilities and Receipt & Dispatch charges collected at actual.
Sensitivity analysis due to changes in revenues and major financial
indicators are tabulated as:

Project IRR 11.04% 12.46% 13.91% 9.57% 8.04%
Equity IRR 12.39% 14.58% 16.97% 10.29% 8.24%
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DSCR 0.88 1.04 1.21 0.72 0.56
Source: MM Analysis

each other.

analysis with respect to availability of handling of grains for government.
The same has been tabulated as:

Equity IRR 12.39% 8.98%
DSCR 0.88 0.62
Source: MM Analysis

commission charge from government for handling of grains plays an
important role in the financial viability of the project.
7! 8
follows:

Change in Opex 0% 5% 10% -5% -10%
Project IRR 11.04% 10.71% 10.40% 11.35% 11.66%
Equity IRR 12.39% 11.91% 11.46% 12.87% 13.34%
DSCR 0.88 0.84 0.80 0.92 0.95
Source: MM Analysis
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7# *$5
are tabulated as:
Base
(INR lakhs) 3395.34 3055.80 2716.27 2546.50 2376.73 2206.97 2037.20
Project IRR 11.04% 12.08% 13.32% 14.03% 14.83% 15.74% 16.79%
Equity IRR 12.39% 14.01% 16.07% 17.35% 18.87% 20.75% 23.12%
DSCR 0.88 0.98 1.09 1.16 1.24 1.33 1.43
Source: MM Analysis

In case the proposed facilities are not fully utilized under by the
government, the financial condition under various levels of VGF would
be as below:

Base
(INR lakhs) 3393.68 3054.31 2714.94 2545.26 2375.58 2205.89 2036.21
Project IRR 8.61% 9.50% 10.55% 11.15% 11.82% 12.56% 13.40%
Equity IRR 8.98% 10.20% 11.71% 12.62% 13.66% 14.89% 16.37%
DSCR 0.62 0.70 0.79 0.84 0.90 0.97 1.04
Source: MM Analysis
proposed facilities are not utilised by government and hence no
commission charge is paid to the developer.

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7/ . 9 5 : *$5 4;'


0% 10% 20% 25% 30% 35% 40%
100% 12.39% 14.01% 16.07% 17.35% 18.87% 20.75% 23.12%
90% 11.41% 13.02% 15.08% 16.36% 17.89% 19.78% 22.17%
80% 10.29% 11.86% 13.92% 15.22% 16.77% 18.68% 21.09%
after 10 years
70% 9.65% 11.21% 13.27% 14.57% 16.13% 18.04% 20.47%
60% 7.28% 8.81% 10.83% 12.13% 13.70% 15.65% 18.17%
Source: MM Analysis
' : %% :
equity. But the DSCR for the project is less than 1.00. Hence, to
VGF is required, assuming 100% of the silo facilities shall be utilised by
government and commission charges shall be paid to the developer.
On the other hand, if the silo facilities are not utilised by the government
wherein revenues from commission charges shall not be available, then
more than 40% of VGF is required to achieve the DSCR of 1.20 times.
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
1 Jabalpur 154.6 156.3 184.0 N.A. 126.6 171.5 158.6 280.5 284.9
2 Katni 86.6 75.4 70.9 N.A. 39.6 74.3 70.8 59.0 96.7
3 Balaghat 17.4 7.9 22.1 N.A. 13.2 12.3 19.5 22.9 29.8
4 Chhindwara 170.2 145.6 144.1 N.A. 223.4 175.2 425.2 388.9 748.4
5 Seoni 93.1 77.7 88.8 N.A. 93.4 90.1 90.5 102.1 127.5
6 Mandla 26.8 26.6 28.5 N.A. 25.3 26.6 23.0 16.7 17.6
7 Dindori 21.9 24.0 18.4 N.A. 14.9 19.4 19.1 16.0 33.7
8 Narsinghpur 181.7 168.9 172.6 N.A. 157.5 189.7 169.4 226.9 253.2
9 Sagar 183.7 173.1 176.4 N.A. 131.8 188.2 244.5 186.5 295.1
10 Damoh 96.6 97.8 102.1 N.A. 99.8 131.8 136.3 171.4 197.0
11 Panna 78.9 76.7 74.9 N.A. 53.2 88.3 97.1 89.1 103.7
12 Tikamgarh 250.3 174.8 79.0 N.A. 28.0 209.2 168.3 99.0 241.5
13 Chhatarpur 249.6 243.7 180.5 N.A. 60.1 195.8 203.9 169.1 199.5
14 Rewa 204.4 181.1 170.8 N.A. 99.3 165.3 158.0 111.3 215.4
15 Sidhi 76.6 67.2 64.1 N.A. 54.7 47.0 45.4 38.1 67.4
16 Singroli 0.0 0.0 0.0 N.A. 0.0 28.9 35.0 35.1 60.9
17 Satna 197.7 173.9 184.3 N.A. 88.5 147.8 173.1 119.1 202.2
18 Shahdol 16.6 16.4 17.2 N.A. 18.0 20.7 16.9 17.1 33.3
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Confidential
Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
19 Anuppur 10.2 9.0 10.2 N.A. 8.2 9.1 8.8 7.0 17.4
20 Umaria 23.1 20.8 21.9 N.A. 18.6 22.7 20.5 19.9 28.6
21 Indore 287.2 304.9 88.7 N.A. 244.3 134.4 220.1 271.3 252.7
22 Dhar 350.7 341.4 138.1 N.A. 500.0 298.8 354.9 453.5 379.5
23 Jhabua 53.7 56.6 49.0 N.A. 77.3 33.6 44.6 51.6 63.5
24 Khargone 149.2 126.9 57.9 N.A. 181.8 98.5 224.9 276.6 340.0
25 Barwani 61.2 50.0 18.0 N.A. 51.9 62.1 49.1 83.1 114.9
26 Khandwa 88.1 73.5 88.8 N.A. 107.9 115.6 120.1 154.8 211.1
27 Burhanpur 17.5 16.7 16.5 N.A. 19.9 20.2 19.4 24.8 31.7
28 Alirajpur 0.0 0.0 0.0 N.A. 0.0 25.3 24.8 28.6 32.9
29 Ujjain 223.4 345.6 114.1 N.A. 341.1 184.3 318.6 237.8 375.0
30 Mandsaur 57.5 134.4 51.1 N.A. 131.2 126.6 156.9 122.7 229.3
31 Neemuch 49.0 74.4 63.2 N.A. 59.0 74.9 61.8 92.1 101.5
32 Ratlam 182.4 203.8 138.0 N.A. 228.9 196.4 218.3 276.8 309.4
33 Dewas 218.8 225.4 89.1 N.A. 215.0 211.0 247.9 247.5 375.0
34 Shajapur 148.3 180.2 68.2 N.A. 164.9 134.8 221.4 182.1 297.7
35 Morena 210.4 207.3 220.7 N.A. 159.8 184.8 179.8 221.8 222.7
36 Sheopur Kalan 109.4 78.7 90.9 N.A. 93.4 94.3 144.0 173.5 191.2
37 Bhind 151.0 133.3 142.2 N.A. 102.5 177.9 214.2 185.2 163.3
38 Gwalior 274.3 236.3 244.9 N.A. 111.4 229.1 189.9 254.0 346.8
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
39 Shivpuri 262.4 216.5 225.5 N.A. 110.1 224.0 250.4 298.1 247.8
40 Guna 106.0 103.2 124.9 N.A. 119.4 143.4 127.4 187.9 243.1
41 Ashoknagar 123.8 120.4 138.8 N.A. 119.9 148.0 173.0 193.0 233.2
42 Datia 180.9 139.1 148.5 N.A. 151.8 229.4 290.8 260.2 346.1
43 Bhopal 108.2 135.4 115.2 N.A. 120.1 126.7 147.1 127.5 304.2
44 Sehore 346.8 364.9 233.4 N.A. 189.0 226.9 401.1 327.2 666.8
45 Raisen 277.1 279.3 311.9 N.A. 203.9 266.9 376.5 278.4 622.0
46 Vidisha 332.9 335.2 310.8 N.A. 202.4 259.6 370.4 341.6 402.1
47 Rajgarh 102.7 102.6 45.9 N.A. 103.7 85.8 145.3 140.4 282.2
48 Hoshangabad 439.3 449.7 429.0 N.A. 698.6 607.4 700.1 854.0 1135.4
49 Harda 179.8 238.6 231.1 N.A. 153.4 168.0 181.6 560.7 639.9
50 Betul 125.2 128.8 145.1 N.A. 412.6 369.6 407.0 137.3 281.0
Non Reported 7.4 7.4 7.4 N.A. 7.4 7.4 7.4 7.4 7.4
State 7364.6 7327.4 5957.7 N.A. 6736.7 7279.6 8872.7 9227.2 12703.2
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Betul 11705 33047 17573 24948 25727 60251 29725 91862 69513 82268
2 Bhopal 23330 52900 48271 88307 86209 51215 53075 140663 178733 261643
3 Harda 132375 204832 114803 216925 260224 353681 255571 312373 453863 464200
4 Hoshangabad 344708 385572 302337 406767 479281 673887 509486 611476 847351 998493
5 Raisen 84321 177899 152421 87284 100889 135917 109270 260513 375758 512195
6 Rajgarh 37711 89686 78828 40666 130838 90279 59194 153371 208688 283189
7 Sehore 123628 222887 143336 121465 207610 215006 135712 296672 436969 506010
8 Vidisha 122584 167179 150908 119927 155679 125710 116095 240269 339373 423289
9 Alirajpur 12442 14057 12297 13577 20107 14294 18725 9694 10760 7135
10 Badwani 9086 11844 17750 20196 38373 29988 14448 17987 31118 41086
11 Burhanpur 1855 6501 2583 2817 7682 21271 9732 6329 12024 11188
12 Dhar 104407 219042 196744 153720 325773 278790 162089 199203 286591 298197
13 Indore 112082 208151 128666 44632 251835 215229 112581 170223 294535 269210
14 Jhabua 41476 48576 50107 48308 39728 56452 43338 42259 40450 43882
15 Khandwa 34820 30607 35613 50319 129600 86217 79436 90299 133707 156492
16 Khargone 35866 46224 47050 36621 83425 155965 70716 120286 174343 196079
17 Dewas 53984 153601 115988 80333 189630 214748 141619 165153 341695 334456
18 Mandsour 6786 8886 44342 17803 109211 85025 55050 123018 86674 159112
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Neemuch 27268 19787 49228 86585 145758 161547 52124 80706 124328 125768
20 Ratlam 15372 42243 54049 32494 130094 151022 44831 86886 107144 164427
21 Shajapur 55421 108925 100211 87388 167407 124488 47914 138299 156052 239204
22 Ujjain 31422 118074 98759 45592 263189 300612 66342 180354 267268 400991
23 Ashoknagar 42132 71283 52754 36039 55296 49887 75525 96073 157955 152912
24 Bhind 34845 29881 10414 27080 43932 54215 73065 60686 99864 118580
25 Datia 68588 60124 25017 35504 87779 87198 126988 150860 223675 180537
26 Guna 30946 33730 47906 51985 92878 73050 97148 116420 192514 183988
27 Gwalior 59913 103706 43118 65472 83866 96615 150230 158083 198436 160763
28 Morena 63170 58806 16922 58213 68537 73410 77496 102659 146344 154475
29 Sheopur 37378 35309 34709 54477 74462 101207 71538 85716 159288 223454
30 Shivpuri 56264 81244 56203 59209 78491 49325 149263 152919 201982 280208
31 Chhatarpur 41664 105645 107418 53470 30836 7070 177835 145627 165158 281249
32 Damoh 29471 55343 58940 67725 69246 47998 60202 97265 99459 126435
33 Panna 12497 9676 7582 5566 3882 3213 11666 16551 20589 62809
34 Sagar 93376 152353 180426 128469 128008 56100 140563 214801 287510 321752
35 Tikamgarh 89289 157514 101735 59118 50941 21156 237595 213731 244239 437649
36 Balaghat 7556 19305 6405 15909 14245 14472 6346 6275 3798 7381
37 Chhindwara 26599 38173 57271 63252 62730 78111 43700 133300 135756 126418
38 Dindori 4274 11310 10108 6972 9019 8036 9425 12283 12497 12867
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Jabalpur 73976 82071 80481 90649 119138 154398 186683 207845 291626 343276
40 Katni 49833 66539 48528 68326 59973 86510 75646 77825 88290 82344
41 Mandla 8045 11052 12832 9963 16548 19530 27957 33109 33792 45530
42 Narsingpur 42732 42512 29574 40532 38570 50178 60860 82020 111196 0
43 Seoni 33773 48691 34368 55429 67705 101939 63788 140766 170468 216564
44 Anuppur 208 383 476 393 393 492 801 783 842 2621
45 Rewa 35042 31824 41844 45459 53464 39244 74142 61620 48792 105800
46 Satna 63187 87050 47976 57982 52795 77105 109618 105022 112828 208733
47 Shahdol 10750 14849 19580 17056 18877 16674 9252 14546 12165 14500
48 Sidhi 8357 16862 33136 28885 27247 11515 32221 56377 15628 34199
49 Singrauli 0 0 0 0 0 0 0 0 2118 0
50 Umaria 9590 12971 7979 7472 12116 9369 18467 17105 20350 19781
State 2456104 3808726 3135566 3037280 4769243 4989611 4355093 6098162 8234096 9883339
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
1 Bhopal 0 10609 12147 0 3570 43514 27309 92288 117085 241604
2 Sehore 6784 16051 27029 0 1201 105958 67656 194513 233992 415721
3 Raisen 39465 63704 86632 0 8061 86630 126478 210127 326778 511572
4 Biora 0 759 2806 0 56
5 Vidisha 238 2136 7319 0 144 23069 18627 78738 135170 325127
6 Betul 22 67 86 0 24 34715 20099 64831 61269 98933
7 H'bad 53874 72520 118770 0 13768 412263 405542 545052 731102 950528
8 Harda 11330 24530 70266 0 8134 238665 241879 314298 467133 539855
9 Indore 0 521 7108 0 184 87351 8015 72003 128350 217551
10 Jhabua 0 0 143 0 0 26815 1777 9367 13474 26130
11 Dhar 0 0 3387 0 1857 75700 22698 90671 168561 230253
12 Khargone 0 0 514 0 0 68794 12026 78161 113088 169401
13 Badwani 0 0 10 0 0 16473 3894 10147 25133 40742
14 Khandwa 12 0 99 0 0 26669 21257 57594 104552 178217
15 Burhanpur 0 0 4 0 0 18202 7397 4000 7644 7627
16 Ujjain 0 688 34349 0 2730 206768 5307 119511 179529 361380
17 Dewas 0 2768 8191 0 500 81172 21821 109036 166466 280488
18 Ratlam 0 0 4975 0 1831 83027 5005 29095 43034 107223
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
19 Mandsour 0 0 934 0 480 28808 4854 33626 32973 90745
20 Neemuch 0 0 551 0 781 26092 5086 5052 18979 42972
21 Shajapur 0 7395 14243 0 71 57561 6886 105037 124028 248057
22 Sagar 3530 8569 4860 0 5 19469 53347 94877 110468 235440
23 Damoh 2029 2513 3063 0 34 21697 39649 60080 65530 133253
24 Panna 1005 1509 1781 0 0 828 7268 12416 19206 58346
25 Chhatarpur 17567 29499 10821 0 0 1778 53541 73003 83528 179432
26 Tikamgarh 12743 32597 12214 0 0 5441 93770 66945 65510 164710
27 Jabalpur 2583 1055 557 0 0 61942 86825 74788 139750 266974
28 Chhindwara 0 50 0 0 82 26828 13963 71721 85161 139291
29 Balaghat 0 0 0 0 0 3158 2503 1989 2740 3766
30 Mandla 337 362 244 0 73 9929 11006 16952 21467 36394
31 Dindori 0 0 0 0 0 42 275 650 1110 3685
32 Seoni 120 1734 2046 0 36 58649 30021 79410 109087 195877
33 Narsingpur 4496 6805 3503 0 168 36001 42912 68803 112711 156303
34 Katni 1952 1950 1174 0 2 18231 16098 28003 44258 95532
35 Rewa 720 831 363 0 68 11366 23585 21877 25596 98206
36 Sidhi 5301 5728 1195 0 2 9207 7680 7181 8223 20629
37 Satna 24595 1186 1025 0 0 17586 45944 44592 43189 126429
38 Shahdole 1485 2461 1444 0 0 4024 7932 8830 11088 18013
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Sr.
No. District 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
39 Anoop Pur 0 0 9 0 0 36 199 205 318 1919
40 Umaria 2014 2647 2064 0 315 3132 6940 7353 8601 20157
41 Gwalior 1788 8646 7294 0 9 66380 64817 61344 103458 171078
42 Datia 5089 8140 5645 0 828 42277 36977 68372 79521 160628
43 Shivpuri 534 10297 3496 0 454 18171 55104 78005 86772 194162
44 Guna 0 2219 7835 0 4108 27961 52587 54593 83523 159213
45 Ashoknagar 0 0 1416 0 0 13190 24419 36519 56453 116359
46 Bhind 387 1037 174 0 8 28268 24001 32273 48106 81454
47 Murena 0 464 0 0 0 41981 47493 74553 86117 133784
48 Sheopurkala 19 16668 12119 0 7895 88924 58910 87248 147196 214234
49 Alirajpur 0 808 1079 3383 3428
50 Rajgarh 25130 17707 70392 103021 217432
51 Singroli 0 7251 10349 11528 17442
Grand Total 7817 47471 37979 0 13302 352282 390074 574727 809078 1469214
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Co-
Mandi operative
1 Bhopal 5300 25000 45740 27000 0 41537 1700 8310 154587
2 Hoshangabad 130421 80000 0 11000 48000 657747 11500 12260 950928
3 Harda 65570 0 0 3000 0 188620 4200 3900 265290
4 Sehore 27000 0 0 9600 48490 130594 6400 14360 236444
5 Rajgarh 17000 0 0 15000 0 130868 6000 1485 170353
6 Betul 13000 10000 0 7000 0 64072 3000 12790 109862
7 Raisen 43537 0 0 17500 0 179498 5000 9950 255485
8 Vidisha 44150 10000 0 18000 0 278189 4500 16050 370889
9 Bhind 17200 0 26000 11900 0 37880 2200 15450 110630
10 Datia 27600 7500 0 7000 0 31057 500 5355 79012
11 Guna 51440 0 0 14000 0 82247 7600 9300 164587
12 Ashoknagar 26000 11920 0 6000 0 75307 3000 0 122227
13 Gwalior 37300 12500 19750 14050 0 214406 3400 7990 309396
14 Murena 15400 0 64250 11000 30200 207824 6400 8200 343274
15 Sheopur 9200 11280 31000 5300 0 49516 4900 0 111196
16 Shivpuri 32800 0 0 8100 0 118366 3100 6450 168816
17 Balaghat 18600 44290 10000 20950 0 4798 3300 9710 111648
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Mandi operative
18 Chindwara 28250 0 0 11800 27052 62493 4900 19530 154025
19 Jabalpur 42350 10640 0 6875 0 196597 9100 15500 281062
20 Katni 5400 8640 25100 10000 0 93349 2000 0 144489
21 Narsinghpur 18666 0 19150 10700 0 85548 7100 20200 161364
22 Seoni 19000 8340 0 10000 0 77989 2800 7350 125479
23 Mandla 9180 0 0 17625 0 9936 2200 8090 47031
24 Dindori 4530 0 0 2000 0 0 0 0 6530
25 Dhar 31900 0 5000 12775 0 96858 13700 13070 173303
26 Indore 14310 0 77750 24000 0 283865 8500 10900 419325
27 Khandwa 3125 0 97367 17150 0 111510 7950 26115 263217
28 Barwani 10977 0 0 1000 0 15500 0 27477
29 Jhabua 20600 5000 0 3000 0 17653 5100 15030 66383
30 Alirajpur 6800 0 0 0 0 0 0 0 6800
31 Khargone 22450 0 0 8000 10944 51321 20700 33630 147045
32 Dewas 75050 0 0 13850 0 147083 8200 10620 254803
33 Burhanpur 0 0 27200 5000 0 1855 7350 0 41405
34 Ujjain 48916 15000 0 12000 38400 233371 10500 23845 382032
35 Mandsour 41400 0 0 8650 0 83132 3200 19370 155752
36 Neemuch 21846 0 0 7000 0 143270 2100 0 174216
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Mandi operative
37 Ratlam 43400 8980 0 19500 0 160431 22400 15300 270011
38 Rajapur 38385 0 8000 12000 0 186987 5500 15420 266292
39 Chhatarpur 28400 10000 0 10400 0 144646 2400 12850 208696
40 Panna 5000 0 0 6000 0 31333 200 4325 46858
41 Tikamgarh 22800 33140 0 15400 0 50927 2400 11200 135867
42 Sagar 47000 3780 0 18900 0 167730 10500 0 247910
43 Damoh 13600 0 0 12000 0 227594 1500 10200 264894
44 Anuppur 4000 0 0 0 0 0 500 4500
45 Satna 36986 6920 0 18280 0 22389 4500 12040 101115
46 Shahdol 12000 5640 0 21375 0 0 2000 0 41015
47 Singroli 2000 0 0 0 0 0 0 0 2000
48 Sidhi 7800 0 0 8575 4000 0 0 14830 35205
49 Rewa 14400 0 0 9575 0 12696 700 7950 45321
50 Umaria 2800 0 0 3000 0 0 0 0 5800
State 1284839 328570 456307 542830 207086 5193089 260200 468925 8741846
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Appendix F. Quotations
5 3'
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5! &
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Base Case
7. Tax Computation
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Setting up of Steel Grain

Silo in Sehore, Madhya

MPWLC, Government of Madhya Pradesh

Office Complex, Block 'A', Gautam Nagar, Bhopal - 462023

Issue and revision record

A 06/03/2013 SP RS, MK SM Draft Feasibility Report

B 20/03/2013 SP RS, MK SM Revised Feasibility Report

C 24/04/2013 SP RS, MK SM Revised Feasibility Report

D 27/05/2013 RS MK SM Re-revised Feasibility Report based

This document contains confidential information and proprietary

Executive Summary vii

5. Wheat Scenario in Madhya Pradesh 13

i320162/MCB/ISA/AA/01 27 May 2013

5.4 Procurement ______________________________________________________________________ 25

7. Project Cost & Means of Finance 34

8. Financial Feasibility Study 41

ii320162/MCB/ISA/AA/01 27 May 2013

9.2 Change in Revenues _______________________________________________________________ 48

iii320162/MCB/ISA/AA/01 27 May 2013

Table 8.1: Various rates considered ____________________________________________________________ 41

iv320162/MCB/ISA/AA/01 27 May 2013

AAY Antyodaya Anna Yojana

APL Above Poverty Line

BPL Below Poverty Line

CAP Covered Area Plinth

CST Central Sales Tax

CWC Central Warehousing Corporation

Consultants Mott MacDonald Private Limited

DSCR Debt Service Coverage Ratio

FCI Food Corporation of India

GoI Government of India

INR Indian National Rupees

IRR Internal Rate of Return

LIFO Last In First Out

Markfed Marketing Federation

MPSCSC Madhya Pradesh State Civil Supplies Corporation

MPWLC Madhya Pradesh Warehousing & Logistics Corporation

MMT Million Metric Tonnes

MSP Minimum Support Price

PDS Public Distribution System

PPP Public Private Partnership

PMGSY Pradhan Mantri Gram Sadak Yojna

v320162/MCB/ISA/AA/01 27 May 2013

ROCE Return on Capital Employed

SLM Straight Line Method

RFP Request for Proposal

TPDS Targeted Public Distribution System

VGF Viability Gap Fund

vi320162/MCB/ISA/AA/01 27 May 2013

Proposed Site, Village: Murli

320162/MCB/ISA/AA/01 27 May 2013

The project cost is summarised in brief as below:

Project Cost Estimates

Proposed source of funds – Base Case

vii 320162/MCB/ISA/AA/01 27 May 2013

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Availability of VGF vs Financial Indicators

Utilization of Facilities & Availability of VGF vs. Equity IRR

Equity IRR Availability of VGF

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Equity IRR Availability of VGF

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Madhya Pradesh Warehousing & Logistics Corporation (MPWLC) has