Assumptions

Products Yarn
No.of spindles
40s Yarn 12144
60s Yarn 11040
Working capacity (Year)
1 80%
2 83%
3 85%
4 87%
5 89%
6 91%
7 94%
8 96%
9 96%
Date of commencement of production July 10, 2018
Sale price per Kg of 40s Rs 200
Sale price per Kg of 60s Rs 230
Raw material price per Kg of output Rs 108.0
Term Loan @13% 800 Lakhs
Repayment 29 quarterly installments
Commencing from June 2019
Debtors Holding Period 25 Days
Creditors Payment period 3 Days
Closing Stock
Raw Material 60 Days
WIP 5 Days
Finished Goods 5 Days
 Capacities
No.of working days 355
No.of working hours 24
Ring Frames
No.of Ring Frames 1104
No.of spindles per ring frame 21
Total No.of spindles 23184
No. of spindles working on 40s 12144
Output per spindle per 8 hours 40s Gms 110
Output per spindle per hour Gms 13.75
No. of spindles working on 60s 11040
Output per spindle per 8 hours 60s Gms 61
Output per spindle per hour Gms 7.63
Output per day per spindles Gms 0
Total output Per hour Kg 251.16
Installed capacity Kg 2139883.20
Mixing
Blow Room
Blow Room 1 Line
Carding machines 6
Output per machine/hour Kg 400
Annual Capacity 20448000
Draw Frames
Breakers 4
Finishers 3
Output per hour Kg 700
Annual capacity 5964000
Simplex
No.of frames 8
Capacity per day Kg 7500
Annual capacity Kg 2662500
Winding
Auto Cones 4
No.of drums in each cone 60
Capacity/hour/drum Kg 7.90
Annual capacity Kg 16153920
Year ending with --> 2019 2020 2021 2022 2023 2024
Average output per spindle per hour(40s) 12144 Gms 13.75 13.75 13.75 13.75 13.75 13.75
Average output per spindle per hour60s 11040 Gms 7.63 7.63 7.63 7.63 7.63 7.63
Total installed capacity /Hour/Day Kg 251.16 251.16 251.16 251.16 251.16 251.16
No.of working days 253.00 355.00 355.00 355.00 355.00 355.00
No.of working months 9.00 12.00 12.00 12.00 12.00 12.00
No.of shifts per day Nos 3.00 3.00 3.00 3.00 3.00 3.00
Effective working hours Hours 24.00 24.00 24.00 24.00 24.00 24.00
Installed Capacity Kg 1,525,043.52 2,139,883.20 2,139,883.20 2,139,883.20 2,139,883.20 2,139,883.20
Working Capacity 80.00% 83.00% 85.00% 87.00% 89.00% 91.00%

Installed capacity of 40s 1,013,902.56 1,422,669.60 1,422,669.60 1,422,669.60 1,422,669.60 1,422,669.60

Installed capacity of 60s 511,140.96 717,213.60 717,213.60 717,213.60 717,213.60 717,213.60

Production of 40s 811,122.05 1,180,815.77 1,209,269.16 1,237,722.55 1,266,175.94 1,294,629.34

Production of 60s 408,912.77 595,287.29 609,631.56 623,975.83 638,320.10 652,664.38
Production 1,220,034.82 1,776,103.06 1,818,900.72 1,861,698.38 1,904,496.05 1,947,293.71
Sales
Production of 40s (in lakhs) 1,622.24 2,361.63 2,418.54 2,475.45 2,532.35 2,589.26
Production of 60s (in lakhs) 940.50 1,369.16 1,402.15 1,435.14 1,468.14 1,501.13
Add: Opening FG 0 37.42 40.94 41.94 42.91 43.89
Less: Closing FG 37.42 40.94 41.94 42.91 43.89 44.87
Total Yarn Sales value 2,525.32 3,727.27 3,819.69 3,909.62 3,999.51 4,089.41
Waste Cotton
Waste Cotton per Kg 28.00 28.00 28.00 28.00 28.00 28.00
Sales value Waste Cotton( in lakhs) 59.68 86.88 88.98 91.07 93.16 95.26
Total Sales value (Yarn+Scrap) 2,585.00 3,814.16 3,908.67 4,000.69 4,092.67 4,184.67

Raw material Consumption

Normal Loss 0.15 0.15 0.15 0.15 0.15 0.15
Raw material consumed (Kg) 1,435,335.08 2,089,533.01 2,139,883.20 2,190,233.39 2,240,583.59 2,290,933.78
Raw material Price per 1 kg of cotton 108.00 108.00 108.00 108.00 108.00 108.00
Raw material consumption (in value) 1,550.16 2,256.70 2,311.07 2,365.45 2,419.83 2,474.21
Add: Closing Stock Of Rm 353.65 381.41 390.60 399.79 408.99 418.18
Less: Opening Stock - 353.65 381.41 390.60 399.79 408.99
RM purchased 1,903.81 2,284.46 2,320.26 2,374.64 2,429.02 2,483.40
Closing Work in progress 38.15 40.98 41.96 42.93 43.90 44.88
Opening Work in Progess 0 38.15 40.98 41.96 42.93 43.90
Closing stock of Finished goods 37.42 40.94 41.94 42.91 43.89 44.87
Opening stock of Finished goods 0 37.42 40.94 41.94 42.91 43.89

Electricity (in lakhs) 299.64 436.21 446.72 457.23 467.74 478.26

Wages 110.06 154.43 155.66 156.28 157.51 158.44
salaries 46.75 62.34 65.45 68.72 72.16 75.77
Total 156.81 216.76 221.11 225.00 229.67 234.21

Debtors 240.05 262.48 268.99 275.33 281.66 287.99

Creditors 21.72 18.78 19.07 19.52 19.96 20.41

Change in stock
RM stock 353.65 27.76 9.19 9.19 9.19 9.19
WIP stock 38.15 2.83 0.98 0.97 0.98 0.98
Finished Stock 37.42 3.52 1.00 0.97 0.98 0.98
TOTAL 429.22 34.12 11.17 11.13 11.15 11.15
 2025 2026 2027
13.75 13.75 13.75
7.63 7.63 7.63
251.16 251.16 251.16
355.00 355.00 355.00
12.00 12.00 12.00
3.00 3.00 3.00
24.00 24.00 24.00
2,139,883.20 2,139,883.20 2,139,883.20
94.00% 96.00% 96.00%

1,422,669.60 1,422,669.60 1,422,669.60

717,213.60 717,213.60 717,213.60

1,337,309.42 1,365,762.82 1,365,762.82

674,180.78 688,525.06 688,525.06
2,011,490.21 2,054,287.87 2,054,287.87

2,674.62 2,731.53 2,731.53

1,550.62 1,583.61 1,583.61
44.87 46.30 47.28
46.30 47.28 47.37
4,223.80 4,314.15 4,315.05
 28.00 28.00 28.00 102.52808989
98.40 100.49 100.49 99.726775956
4,322.20 4,414.64 4,415.54

0.15 0.15 0.15

2,366,459.07 2,416,809.26 2,416,809.26
108.00 108.00 108.00
2,555.78 2,610.15 2,610.15
431.96 441.15 441.15
418.18 431.96 441.15
2,569.56 2,619.34 2,610.15
46.32 47.30 47.37
44.88 46.32 47.30
46.30 47.28 47.37
44.87 46.30 47.28

494.02 504.53 504.53

159.37 159.98 160.60
79.56 83.54 87.71
238.92 243.52 248.31

297.45 303.81 303.88

21.12 21.53 21.45
13.79 9.19 -
1.44 0.98 0.07
1.43 0.99 0.08
16.65 11.15 0.15
 CMA DATA
OPERATING STATEMENT

31.03.2019 31.03.2020 31.03.2021 31.03.2022 31.03.2023 31.03.2024 31.03.2025

Current year Following Following Following Following Following Following year
Particulars year year year year year
Estimated Provisional Provisional Provisional Provisional Provisional Provisional
1 2 3 4 5 6 7
1 Gross Receipts
Yarn Sales
Sale of 40s & 60s yarn 2,525.32 3,727.27 3,819.69 3,909.62 3,999.51 4,089.41 4,223.80
Sale of Scrap 59.68 86.88 88.98 91.07 93.16 95.26 98.40
Total sales 2,585.00 3,814.16 3,908.67 4,000.69 4,092.67 4,184.67 4,322.20
2 Cost of production
RM(cotton)- Consumption 1,550.16 2,256.70 2,311.07 2,365.45 2,419.83 2,474.21 2,555.78
Power 299.64 436.21 446.72 457.23 467.74 478.26 494.02
Wages and salaries 156.81 216.76 221.11 225.00 229.67 234.21 238.92
Cost of Production before WIP 2,006.61 2,909.67 2,978.91 3,047.69 3,117.25 3,186.67 3,288.72
Less: Closing WIP 38.15 40.98 41.96 42.93 43.90 44.88 46.32
Add: Opening Wip - 38.15 40.98 41.96 42.93 43.90 44.88
Cost of Production 1,968.46 2,906.83 2,977.93 3,046.72 3,116.27 3,185.69 3,287.28
Add : Opg stock of Finished Goods - 37.42 40.94 41.94 42.91 43.89 44.87
Less : Clg. stock of Finished Goods 37.42 40.94 41.94 42.91 43.89 44.87 46.30
TOTAL(A) 1,931.04 2,903.32 2,976.93 3,045.75 3,115.29 3,184.72 3,285.85
Admin Exp 37.88 55.91 57.30 58.64 59.99 61.34 63.36
Repairs and maintenance 25.25 37.27 38.20 39.10 40.00 40.89 42.24
Stores cost 57.83 81.14 81.14 81.14 81.14 81.14 81.14
packing materials cost 30.50 44.40 45.47 46.54 47.61 48.68 50.29
selling Expenses 37.88 55.91 57.30 58.64 59.99 61.34 63.36
Lease Rent 90.00 126.00 132.30 138.92 145.86 153.15 160.81
One time overhauling Expenses 65.00 - - - - - -
TOTAL(B) 344.34 400.64 411.70 422.99 434.60 446.56 461.19
Operating profit before interest (A-B) 309.62 510.20 520.03 531.95 542.79 553.39 575.15
Interest on Working capital 27.27 44.00 44.00 44.00 44.00 44.00 44.00
Interest on Term Loan 86.67 98.62 84.27 69.91 55.56 41.21 26.86
Operating profit after interest 195.68 367.59 391.76 418.04 443.22 468.18 504.29
Depreciation 123.71 143.85 119.42 99.26 82.61 68.85 57.47
PBT 71.98 223.74 272.34 318.78 360.61 399.33 446.83
Provision for taxes 14.17 68.58 80.09 91.50 102.01 111.95 124.57
Profit/(Loss) After Tax 57.81 155.16 192.25 227.28 258.60 287.38 322.26
Retained profit 57.81 155.16 192.25 227.28 258.60 287.38 322.26
Retained profit/Net profit (% age) 100.00 100.00 100.00 100.00 100.00 100.00 100.00
 ANALYSIS OF BALANCE SHEET

31.03.2019 31.03.2020 31.03.2021 31.03.2022 31.03.2023 31.03.2024 31.03.2025

LIABILITIES Current year Following Following Following Following Following Following year
Estimated year
Provisional year
Provisional year
Provisional year
Provisional year
Provisional Provisional
1 2 3 4 5 6 7
CURRENT LIABILITIES:
1 Short term borrowings from Banks
(including bills purchased, discounted)
I) From applicant bank 350.00 350.00 350.00 350.00 350.00 350.00 350.00
From Application Bank Term Loan
Sub Total (A) 350.00 350.00 350.00 350.00 350.00 350.00 350.00
2 Short term borrowings from Others 50.00 - - - - - -
3 Sundry Creditors (Trade) 21.72 18.78 19.07 19.52 19.96 20.41 21.12
4 Advance payments from Customers - - - - - -
or Deposits from Dealers - - - - - -
5 Provision for taxation 14.17 68.58 80.09 91.50 102.01 111.95 124.57
6 Dividend payable - - - - - - -
7 Other statutory liabilities (due - - - - - - -
within one year) - - - - - - -
8 Other Current Liabilities & Provisions 8.00 10.00 10.00 10.00 10.00 10.00 10.00
Sub Total (B) 93.88 97.35 109.16 121.01 131.97 142.36 155.69
9 Total Current Liabilities (Total of 1 to 9) 443.88 447.35 459.16 471.01 481.97 492.36 505.69
10 Deferred Payment Credits (excluding - - - - -
installments due within one year) - - - - - - -
11 Term Deposits (repayable after - - - - - - -
one year) - - - - - - -
12 Other Term Liabilities (From Applicant bank term l 800.00 689.60 579.20 468.80 358.40 248.00 137.60
13 Total Term Liabilities 800.00 689.60 579.20 468.80 358.40 248.00 137.60
(Total of 10 to 13)
14 Total Outstanding liabilites 1,243.88 1,136.95 1,038.36 939.81 840.37 740.36 643.29
 Net Worth:
15 Corpus fund 688.00 688.00 688.00 688.00 688.00 688.00 688.00
16 General Reserve 57.81 212.97 405.22 632.51 891.11 1,178.49
17 Revaluation Reserve - - - - - - -
18 Other Reserves (excluding provision) - - - - - - -
19 Surplus (+) or deficit (-) in Profit & 57.81 155.16 192.25 227.28 258.60 287.38 322.26
Loss account
20 Net Worth 745.81 900.97 1,093.22 1,320.51 1,579.11 1,866.49 2,188.74
21 Total Liabilities 1,989.70 2,037.93 2,131.59 2,260.32 2,419.48 2,606.85 2,832.03
 ANALYSIS OF BALANCE SHEET

0
0

31.03.2019 31.03.2020 31.03.2021 31.03.2022 31.03.2023 31.03.2024 31.03.2025

A S S E T S: Current year Following Following Following Following Following Following year
Estimated year
Provisional year
Provisional year
Provisional year
Provisional year
Provisional Provisional
1 2 3 4 5 6 7
CURRENT ASSETS:
22 Cash and Bank balances 8.13 143.66 289.07 399.60 423.89 462.64 519.17
23 Investments (other than long term
investments)
i) Government & Other Trustee Securities
ii) Fixed deposits with banks - - - - - - -
24 i) Receivables other than deferred & 240.05 262.48 268.99 275.33 281.66 287.99 297.45
exports (including bills purchased
& discounted by banks)
ii) Export receivables (including bills - - - - - - -
purchased/discounted by banks) - - - - - - -
25 Inventory:
I) Raw Materials (including stores &
other items used in the process of
manufacture)
a) Imported
b) Indigenous 353.65 381.41 390.60 399.79 408.99 418.18 431.96
ii) Stock in Process 38.15 40.98 41.96 42.93 43.90 44.88 46.32
iii) Finished Goods 37.42 40.94 41.94 42.91 43.89 44.87 46.30
iv) Other Consumable Spares
a) Imported
b) Indigenous
26 Advances to Suppliers of Raw
Materials & Stores/Spares
27 Other Current Assets
28 Total Current Assets 677.40 869.48 1,032.56 1,160.56 1,202.33 1,258.55 1,341.20
(Total of 22 to 27)
29 Gross Block (Land & Building, 1,436.00 1,436.00 1,436.00 1,436.00 1,436.00 1,436.00 1,436.00
Vehicles)
30 Depreciation to date 123.71 267.55 386.97 486.24 568.85 637.70 695.17
31 Net Block (29-30) 1,312.30 1,168.45 1,049.03 949.76 867.15 798.30 740.83
1,989.70 2,037.93 2,081.59 2,110.32 2,069.48 2,056.85 2,082.03
 31.03.2019 31.03.2020 31.03.2021 31.03.2022 31.03.2023 31.03.2024 31.03.2025
Current year Following Following Following Following Following Following year
Estimated year
Provisional year
Provisional year
Provisional year
Provisional year
Provisional Provisional
1 2 3 4 5 6 7
OTHER NON CURRENT ASSETS:
32 Investments/book debts/advances/ - - 50 150 350 550 750
deposits which are not Current
Assets
I) a) Investments in subsidiary
companies/affiliates
b) Others
ii) Advances to suppliers of
Capital Goods & Contractors
iii) Deferred receivables
(maturity exceeding one year)
iv) B.G Margin - - - - - - -
33 Total Other Non Current Assets - - 50.00 150.00 350.00 550.00 750.00

34 Intangible assets (patents, goodwill - - -

preliminary expenses, bad/doubtful
debts not provided for, etc.
35 Total Assets 1,989.70 2,037.93 2,131.59 2,260.32 2,419.48 2,606.85 2,832.03
(Total of 28 to 34)
36 Tangible Net Worth 745.81 900.97 1,093.22 1,320.51 1,579.11 1,866.49 2,188.74
37 Net Working Capital 233.52 422.13 573.40 689.54 720.36 766.18 835.51

38 Current Ratio (items 28/9) 1.53 1.94 2.25 2.46 2.49 2.56 2.65
39 Total Outside Liabilities Net Worth 1.67 1.26 0.95 0.71 0.53 0.40 0.29
- - - - - - -
 COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES
0
0

31.03.2019 31.03.2020 31.03.2021 31.03.2022 31.03.2023 31.03.2024 31.03.2025

Current year Following Following Following Following Following Following year
A. CURRENT ASSETS: Estimated year
Provisional year
Provisional year
Provisional year
Provisional year
Provisional Provisional
1 2 3 4 5 6 7

1 I) Raw Materials (including stores &

other items used in the process of
manufacture)
a) Imported
Months Consumption
b) Indigenous 354 381 391 400 409 418 432
Months Consumption
2 Other Consumable spares, excluding
a) Imported
Months Consumption
b) Indigenous - - - - - - -
Months Consumption
3 Stock in Process 38.15 40.98 41.96 42.93 43.90 44.88 46.32
Months cost of production
4 Finished Goods 37.42 40.94 41.94 42.91 43.89 44.87 46.30
5 Receivables other than export & 240.05 262.48 268.99 275.33 281.66 287.99 297.45
deferred receivables (including bills
purchased and discounted by
bankers)
6 Export receivables (including bills - - -
purchased & disc) Months - - -
export sales - - -
7 Other current assets including cash 8.13 143.66 289.07 399.60 423.89 462.64 519.17
& bank balances & deferred
receivables due within one year,templates
8 Total Current Assets 677.40 869.48 1,032.56 1,160.56 1,202.33 1,258.55 1,341.20
B. CURRENT LIABILITIES
(Other than bank borrowings for
Working Capital)
9 Creditors for purchase of raw 21.72 18.78 19.07 19.52 19.96 20.41 21.12
materails, stores & consumables
10 Advances from customers - - - - - - -
11 Statutory Liabilities 14.17 68.58 80.09 91.50 102.01 111.95 124.57
12 Other current liabilities (specify - - - - - - -
major items) Short term borrowings, 58.00 10.00 10.00 10.00 10.00 10.00 10.00
unsecured loans, dividend payable,
installments of TL, DPG, public
13 Total 93.88 97.35 109.16 121.01 131.97 142.36 155.69

ESTIMATED AND PROJECTED BALANCE SHEET

0
0

31.03.2019 31.03.2020 31.03.2021 31.03.2022 31.03.2023 31.03.2024 31.03.2025

Current year Following Following Following Following Following Following year
Estimated year
Provisional year
Provisional year
Provisional year
Provisional year
Provisional Provisional
Particulars 1 2 3 4 5 6 7

A LIABILITIES:

1. Corpus fund 688.00 688.00 688.00 688.00 688.00 688.00 688.00

2. Surplus (+) or deficit (-) in Profit & 57.81 212.97 405.22 632.51 891.11 1,178.49 1,500.74
Loss account
3. Term Loan 800.00 689.60 579.20 468.80 358.40 248.00 137.60
4. Unsecured Loans 50.00 - - - - - -
5. Bank Borrowings for Working capital 350.00 350.00 350.00 350.00 350.00 350.00 350.00
6. Other Liabilities 43.88 97.35 109.16 121.01 131.97 142.36 155.69

Total Liabilities 1,989.70 2,037.93 2,131.59 2,260.32 2,419.48 2,606.85 2,832.03

-
B ASSETS:
1. Gross Block 1,436.00 1,436.00 1,436.00 1,436.00 1,436.00 1,436.00 1,436.00
2. Depreciation 123.71 267.55 386.97 486.24 568.85 637.70 695.17
3. Net Block 1,312.30 1,168.45 1,049.03 949.76 867.15 798.30 740.83
4. Non current investments - - 50.00 150.00 350.00 550.00 750.00
5. Current Assets 669.27 725.82 743.50 760.96 778.44 795.91 822.03
6. Cash and Bank balances 8.13 143.66 289.07 399.60 423.89 462.64 519.17

Total Assets 1,989.70 2,037.93 2,131.59 2,260.32 2,419.48 2,606.85 2,832.03

 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

0
0

31.03.2019 31.03.2020 31.03.2021 31.03.2022 31.03.2023 31.03.2024 31.03.2025

Current year Following Following Following Following Following Following year
year year year year year
Estimated Provisional Provisional Provisional Provisional Provisional Provisional
1 2 3 4 5 6 7
I Current Assets:
1. Raw Material including stores
a) Imported
Months Consumption
b) Indigenous 353.65 381.41 390.60 399.79 408.99 418.18 431.96
Months Consumption
2. Other Consumable Spares 0 0 0 0 0 0 0
3. Stock in Process 38.15 40.98 41.96 42.93 43.90 44.88 46.32
(Months Cost of Production)
4. Finished Goods 37.42 40.94 41.94 42.91 43.89 44.87 46.30
(Months Cost of Sales)
5. Receivables other than Export and Deferred 240.05 262.48 268.99 275.33 281.66 287.99 297.45
Receivables (including bills
purchased/discounted by banks)
(Months Domestic Sales excluding
deferred payment sales)
6. Export Receivables
(including bills purchased/discounted
by banks)
7. Advances to Suppliers of Raw
Materials and Stores/Spares/
Consumables
8. Other Current Assets including 8.13 143.66 289.07 399.60 423.89 462.64 519.17
 Cash and Bank balances and
deferred receivables due within one
year (furnish individual details of
major items)
Total Current Assets (I) 677.40 869.48 1,032.56 1,160.56 1,202.33 1,258.55 1,341.20

II Current Liabilities
1. Creditors for purchases of Raw 21.72 18.78 19.07 19.52 19.96 20.41 21.12
material and Stores/Spares/
Consumables (months purchases)
2. Advances from Customers
3. Accured Expenses
4. Statutory Liabilities
5. Other Current Liabilities 72.17 78.58 90.09 101.50 112.01 121.95 134.57
furnish individual details of major items
Total Current Liabilities (II) 93.88 97.35 109.16 121.01 131.97 142.36 155.69
III Working Capital Gap (I-II) 583.52 772.13 923.40 1,039.54 1,070.36 1,116.18 1,185.51
IV Margin for Working Capital 233.52 422.13 573.40 689.54 720.36 766.18 835.51
V Bank Borrowings 350.00 350.00 350.00 350.00 350.00 350.00 350.00
 COMPUTATION OF MAXIMUM PERMISSABLE BANK FINANCE
0
0

31.03.2019 31.03.2020 31.03.2021 31.03.2022 31.03.2023 31.03.2024 31.03.2025

Current year Following Following Following Following Following Following year
year year year year year
Estimated Provisional Provisional Provisional Provisional Provisional Provisional
1 2 3 4 5 6 7
1 Total Current Assets 677.40 869.48 1,032.56 1,160.56 1,202.33 1,258.55 1,341.20

2 Other Current Liabilities 93.88 97.35 109.16 121.01 131.97 142.36 155.69
(Other than bank borrowing)
3 Working Capital Gap (WCG) 583.52 772.13 923.40 1,039.54 1,070.36 1,116.18 1,185.51
(1-2)
4 Min.stipulated net working capital 145.88 193.03 230.85 259.89 267.59 279.05 296.38
i.e 25% of total current assets as the case maybe
depending upon the method of lending being applied
(Export receivables to be excluded under both methods)
5 Actual/Projected net W.C 233.52 422.13 573.40 689.54 720.36 766.18 835.51

6 Item 3 minus item 4 437.64 579.09 692.55 779.66 802.77 837.14 889.13
7 Item 3 minus item 5 350.00 350.00 350.00 350.00 350.00 350.00 350.00
8 Maximum permissible bank fin. 437.64 150.00 350.00 350.00 350.00 350.00 350.00
(Item 6 or 7 whichever is lower)
9 Excess borrowings representing (87.64) (229.09) (342.55) (429.66) (452.77) (487.14) (539.13)
short fall in NWC (4-5)

Provision for income Tax

2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
Profit Before Tax 71.98 223.74 272.34 318.78 360.61 399.33 446.83
Add:- Depreciation as per Companies Act 123.71 143.85 119.42 99.26 82.61 68.85 57.47
195.68 367.59 391.76 418.04 443.22 468.18 504.29
Less:- Depreciation as per Income tax Act 141.20 121.08 103.87 89.15 76.55 65.76 56.52
Taxable Income as per Income Tax Act 54.48 246.51 287.89 328.89 366.67 402.42 447.77
Tax there on @ 25% 13.62 61.63 71.97 82.22 91.67 100.60 111.94
MAT @ 18.5% on PBT 13.32 41.39 50.38 58.97 66.71 73.88 82.66

Higher of A & B 13.62 61.63 71.97 82.22 91.67 100.60 111.94

Add;- Surcharge @ 7/12% 0.00 4.31 5.04 5.76 6.42 7.04 7.84
Add;- H & E cess @ 4% 0.54 2.64 3.08 3.52 3.92 4.31 4.79
Total Tax 14.17 68.58 80.09 91.50 102.01 111.95 124.57

Deferred Tax
As per Companies Act 123.71 143.85 119.42 99.26 82.61 68.85 57.47
As per Income Tax Act 141.20 121.08 103.87 89.15 76.55 65.76 56.52
Difference 17.50 -22.77 -15.55 -10.11 -6.06 -3.09 -0.94
Deferred Tax Liability 5.25 -6.83 -4.66 -3.03 -1.82 -0.93 -0.28
 (Figures in Lakhs)
31.03.2026 31.03.2027
Following Following year
year
Provisional Provisional
8 9

4,314.15 4,315.05
100.49 100.49
4,414.64 4,415.54

2,610.15 2,610.15
504.53 504.53
243.52 248.31
3,358.21 3,363.00
47.30 47.37
46.32 47.30
3,357.23 3,362.93
46.30 47.28
47.28 47.37
3,356.24 3,362.85
64.71 64.73
43.14 43.15
81.14 81.14
51.36 51.36
64.71 64.73
168.85 177.29
- -
473.92 482.40
584.48 570.29
44.00 44.00
 12.51 0.88
527.97 525.41
48.04 40.23
479.93 485.18
133.36 134.53
346.57 350.64
346.57 350.64
100.00 100.00
 (Figures in Lakhs)
31.03.2026 31.03.2027
Following Following year
year
Provisional Provisional
8 9

350.00 350.00

350.00 350.00
- -
21.53 21.45
- -
- -
133.36 134.53
- -
- -
- -
10.00 10.00
164.89 165.99
514.89 515.99
- -
- -
- -
- -
27.20 -
27.20 -

542.09 515.99
 688.00 688.00
1,500.74 1,847.31
- -
- -
346.57 350.64

2,535.31 2,885.96
3,077.40 3,401.94
 (Figures in Lakhs)
31.03.2026 31.03.2027
Following Following year
year
Provisional Provisional
8 9

595.06 759.62

- -
303.81 303.88

- -
- -

441.15 441.15
47.30 47.37
47.28 47.37
1,434.61 1,599.38

1,436.00 1,436.00

743.21 783.44
692.79 652.56
2,127.40 2,251.94
 (Figures in Lakhs)
31.03.2026 31.03.2027
Following Following year
year
Provisional Provisional
8 9

950 1,150

- -
950.00 1,150.00

3,077.40 3,401.94

2,535.31 2,885.96
919.72 1,083.40

2.79 3.10
0.21 0.18
- -
 (Figures in Lakhs)
31.03.2026 31.03.2027
Following Following year
year
Provisional Provisional
8 9

441 441

- -

47.30 47.37

47.28 47.37
303.81 303.88

595.06 759.62
1,434.61 1,599.38
 21.53 21.45

- -
133.36 134.53
- -
10.00 10.00

164.89 165.99

(Figures in Lakhs)
31.03.2026 31.03.2027
Following Following year
year
Provisional Provisional
8 9

688.00 688.00
1,847.31 2,197.96

27.20 -
- -
350.00 350.00
164.89 165.99

3,077.40 3,401.94
1,436.00 1,436.00
743.21 783.44
692.79 652.56
950.00 1,150.00
839.55 839.76
595.06 759.62

3,077.40 3,401.94
 (Figures in Lakhs)
31.03.2026 31.03.2027
Following Following year
year
Provisional Provisional
8 9

441.15 441.15

0 0
47.30 47.37

47.28 47.37

303.81 303.88

595.06 759.62
1,434.61 1,599.38

21.53 21.45

143.36 144.53

164.89 165.99
1,269.72 1,433.40
919.72 1,083.40
350.00 350.00
(As per Balance Sheet as at)
31.03.2026 31.03.2027
Following Following year
year
Provisional Provisional
8 9
1,434.61 1,599.38

164.89 165.99

1,269.72 1,433.40

317.43 358.35

919.72 1,083.40

952.29 1,075.05
350.00 350.00
350.00 350.00

(602.29) (725.05)

2025-26 2026-27
479.93 485.18
48.04 40.23
527.97 525.41
48.61 41.82
479.36 483.58
119.84 120.90
88.79 89.76

119.84 120.90
8.39 8.46
5.13 5.17
133.36 134.53

48.04 40.23
48.61 41.82
0.57 1.59
0.17 0.48
 0

Working Capital Requirement

2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
Sl.No Particulars
Proj. Proj. Proj. Proj. Proj. Proj. Proj.
1 Total Current Assets 677.40 869.48 1,032.56 1,160.56 1,202.33 1,258.55 1,341.20
2 Other Current Liabilities (Other than Bank Borrowings) 93.88 97.35 109.16 121.01 131.97 142.36 155.69
3 Working Capital Gap (A-B) 583.52 772.13 923.40 1,039.54 1,070.36 1,116.18 1,185.51
4 Min. Stipulated Net Working Capital (25% of WCG) 145.88 193.03 230.85 259.89 267.59 279.05 296.38
5 Actual / Projected Net Working Capital 233.52 422.13 573.40 689.54 720.36 766.18 835.51
6 Item (3-4) 437.64 579.09 692.55 779.66 802.77 837.14 889.13
7 Item (3-5) 350.00 350.00 350.00 350.00 350.00 350.00 350.00
8 Max Permissable Bank Finance (6 or 7 Whichever is low) 350.00 350.00 350.00 350.00 350.00 350.00 350.00
9 Excess Borrowings representing Shortfall in Networking Capital (4-5) (87.64) (229.09) (342.55) (429.66) (452.77) (487.14) (539.13)
 0

g Capital Requirement
2025-26 2026-27
Proj. Proj.
1,434.61 1,599.38
164.89 165.99
1,269.72 1,433.40
317.43 358.35
919.72 1,083.40
952.29 1,075.05
350.00 350.00
350.00 350.00
(602.29) (725.05)
 DEPRECIATION STATEMENT

As Per Companies Act' 2013.

Sl. Rate of WDV As On Additions Total Depn.for WDV As On Depn.for WDV As On Depn.for WDV As On Depn.for WDV As On
Name of the Asset
No. Depn. 31.12.2017 during the year 2018-19 31.03.2019 2019-20 31.03.2020 2020-21 31.03.2021 2021-22 31.03.2022

1 10acr Land pedur, siricilla 0.00% 424.00 - 424.00 - 424.00 - 424.00 - 424.00 - 424.00
2 Buildings 9.50% 212.00 0.00 212.00 15.11 196.90 18.71 178.19 16.93 161.26 15.32 145.94
3 Plant and Machinery 18.10% 800.00 0.00 800.00 108.60 691.40 125.14 566.26 102.49 463.76 83.94 379.82

1436.00 0.00 1436.00 123.71 1312.30 143.85 1168.45 119.42 1049.03 99.26 949.76

As Per Income Tax Act' 1961.

Sl. Rate of WDV As On Additions Total Depn.for WDV As On Depn.for WDV As On Depn.for WDV As On Depn.for WDV As On
Name of the Asset
No. Depn. 31.12.2017 during the year 2018-19 31.03.2019 2019-20 31.03.2020 2020-21 31.03.2021 2021-22 31.03.2022

1 10acr Land pedur, siricilla 0.00% 424.00 - 424.00 - 424.00 - 424.00 - 424.00 - 424.00
2 Buildings 10.00% 212.00 212.00 21.20 190.80 19.08 171.72 17.17 154.55 15.45 139.09
3 Plant and Machinery 15.00% 800.00 800.00 120.00 680.00 102.00 578.00 86.70 491.30 73.70 417.61
0.00 0.00 0.00
1436.00 0.00 1436.00 141.20 1294.80 121.08 1173.72 103.87 1069.85 89.15 980.70
ON STATEMENT

(Rs. In lakhs)
Depn.for WDV As On Depn.for WDV As On Depn.for WDV As On Depn.for WDV As On Depn.for WDV As On
2022-23 31.03.2023 2023-24 31.03.2024 2024-25 31.03.2025 2025-26 31.03.2026 2026-27 31.03.2027

- 424.00 - 424.00 - 424.00 - 424.00 - 424.00

13.86 132.08 12.55 119.53 11.36 108.17 10.28 97.90 9.30 88.60
68.75 311.07 56.30 254.77 46.11 208.66 37.77 170.89 30.93 139.96

82.61 867.15 68.85 798.30 57.47 740.83 48.04 692.79 40.23 652.56

(Rs. In lakhs)
Depn.for WDV As On Depn.for WDV As On Depn.for WDV As On Depn.for WDV As On Depn.for WDV As On
2022-23 31.03.2023 2023-24 31.03.2024 2024-25 31.03.2025 2025-26 31.03.2026 2026-27 31.03.2027

- 424.00 - 424.00 - 424.00 - 424.00 - 424.00

13.91 125.18 12.52 112.67 11.27 101.40 10.14 91.26 9.13 82.13
62.64 354.96 53.24 301.72 45.26 256.46 38.47 217.99 32.70 185.29
0.00 0.00 0.00 0.00 0.00
76.55 904.15 65.76 838.39 56.52 781.86 48.61 733.25 41.82 691.43
 Cash Flow Statement
(Rs in Lakhs)
31.03.2019 31.03.2020 31.03.2021 31.03.2022 31.03.2023 31.03.2024
Current year Following year Following year Following year Following year Following year
Particulars
Estimated Provisional Provisional Provisional Provisional Provisional
1 2 3 4 5 6
Cash Flows from Operating activities

Net profit before taxation 71.98 223.74 272.34 318.78 360.61 399.33
Adjustment for :
Depreciation 123.71 143.85 119.42 99.26 82.61 68.85
Dividend Received - - - - - -
Interest expenses 113.94 142.62 128.27 113.91 99.56 85.21
Interest Received - - - - - -
Profit / Loss on sale of fixed assets / investments - - - - - -
Extraordinary income / expenses - - - - - -
Operating profit before working capital changes 309.62 510.20 520.03 531.95 542.79 553.39
Changes in current assets ( exclud cash and bank
balances) (669.27) (56.55) (17.68) (17.46) (17.48) (17.48)
Change in Debtors (240.05) (22.43) (6.51) (6.33) (6.33) (6.33)
Change in Stock (429.22) (34.12) (11.17) (11.13) (11.15) (11.15)
Change in other current assets - - - - - -

Changes in current liabilities ( exclud div and debts) 393.88 53.47 11.81 11.85 10.96 10.39
Change in creditors 21.72 (2.94) 0.29 0.45 0.45 0.45
Change in bank finance 350.00 - - - - -
Change in other current liabilities 22.17 56.41 11.51 11.41 10.51 9.94
Cash generated from operations 34.23 507.13 514.16 526.35 536.26 546.31
Income tax for the current year ( including deferred
tax) 14.17 68.58 80.09 91.50 102.01 111.95
Cash from opeartions before extraordinary items 20.07 438.55 434.07 434.85 434.25 434.35
Extraordinary items - - - - - -
Net cash from operating activities ( 1 ) 20.07 438.55 434.07 434.85 434.25 434.35
Cash Flows from Investing activities
Dividend Received - - - - - -
Interest Received - - - - - -
Purchase / Sale of Fixed Assets (1,436.00) - - - - -
Purchase / Sale of Intangible Assets - - - - - -
Long term Investments/ Repayments - - (50.00) (100.00) (200.00) (200.00)

Net cash from investing activities ( 2 ) (1,436.00) - (50.00) (100.00) (200.00) (200.00)

Cash Flows from Financing activities

Interest expenses (113.94) (142.62) (128.27) (113.91) (99.56) (85.21)
Dividend paid - - - - - -
Increase / Decrease in Share Capital 688.00 - - - - -
Change in Share Premium - - - - - -
Change in Debentures / Preference Shares - - - - - -
Change in Term Debt 800.00 - - - - -
Unsecured Loan 50.00 (50.00) - - - -
Repayment of Term loan 0 (110.40) (110.40) (110.40) (110.40) (110.40)
- - - - -
Net cash from financing activities ( 3 ) 1,424.06 (303.02) (238.67) (224.31) (209.96) (195.61)
Total Cash Inflow/(outflow) 8.13 135.53 145.41 110.53 24.29 38.74

Cash / Bank Balance at the beginning of period ( 5 ) - 8.13 143.66 289.07 399.60 423.89

Cash / Bank Balance at the end of period ( 4 ) + ( 5 ) 8.13 143.66 289.07 399.60 423.89 462.64
 31.03.2025 31.03.2026 31.03.2027
Following year Following year Following year

Provisional Provisional Provisional

7 8 9

446.83 479.93 485.18

57.47 48.04 40.23

- - -
70.86 56.51 44.88
- - -
- - -
- - -
575.15 584.48 570.29

(26.12) (17.52) (0.21)

(9.46) (6.36) (0.06)
(16.65) (11.15) (0.15)
- - -

13.32 9.20 1.10

0.71 0.41 (0.08)
- - -
12.62 8.79 1.17
562.36 576.16 571.18

124.57 133.36 134.53

437.79 442.80 436.65
- - -
437.79 442.80 436.65

- - -
- - -
- - -
- - -
(200.00) (200.00) (200.00)

(200.00) (200.00) (200.00)

(70.86) (56.51) (44.88)

- - -
- - -
- - -
- - -
- - -
- - -
(110.40) (110.40) (27.20)
- - -
(181.26) (166.91) (72.08)
56.53 75.89 164.56

462.64 519.17 595.06

519.17 595.06 759.62

 PERFORMANCE AND FINANCIAL INDICATORS

As on 31st March Rs. In Lakhs

2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26
Particulars
Est. Proj. Proj. Proj. Proj. Proj. Proj. Proj. Proj.

Yarn sales 2525.32 3727.27 3819.69 3909.62 3999.51 4089.41 4223.80 4314.15 4315.05
Scrap sales 59.68 86.88 88.98 91.07 93.16 95.26 98.40 100.49 100.49
Net Sales 2585.00 3814.16 3908.67 4000.69 4092.67 4184.67 4322.20 4414.64 4415.54

% rise/fall (-) in net sales 0.00 -63.11 2.48 2.35 2.30 2.25 3.29 2.14 0.02

Profit Before tax 71.98 223.74 272.34 318.78 360.61 399.33 446.83 479.93 485.18

PBT/ Sales (%) 2.78 5.87 6.97 7.97 8.81 9.54 10.34 10.87 10.99

Profit After Tax 57.81 155.16 192.25 227.28 258.60 287.38 322.26 346.57 350.64
PAT/Sales (%) 2.24 4.07 4.92 5.68 6.32 6.87 7.46 7.85 7.94

Cash Accrual 181.52 299.01 311.67 326.54 341.21 356.23 379.73 394.61 390.88
Paid Up Capital 688.00 688.00 688.00 688.00 688.00 688.00 688.00 688.00 688.00

TNW 745.81 900.97 1093.22 1320.51 1579.11 1866.49 2188.74 2535.31 2885.96

TOL/TNW (times) 1.67 1.26 0.95 0.71 0.53 0.40 0.29 0.21 0.18
NWC 583.52 772.13 923.40 1039.54 1070.36 1116.18 1185.51 1269.72 1433.40
Current Ratio 1.53 1.94 2.25 2.46 2.49 2.56 2.65 2.79 3.10
 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26
Particulars
Est. Proj. Proj. Proj. Proj. Proj. Proj. Proj. Proj.
Particulars 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26
Est. Proj. Proj. Proj. Proj. Proj. Proj. Proj. Proj.
Other Ratios
Operating Cost/ sales % 92.43 90.36 89.98 89.55 89.17 88.81 88.33 88.04 88.10
Net Sales /TTA (times) 1.30 1.87 1.88 1.90 1.98 2.03 2.08 2.08 1.96
PBDIT 309.62 510.20 520.03 531.95 542.79 553.39 575.15 584.48 570.29
EFFICIENCY RATIOS
PBT/ Total Tangible Assets (%) 0.04 0.11 0.13 0.15 0.17 0.19 0.21 0.23 0.22

Bank Finance/ Ct. Assets (%) 0.52 0.40 0.34 0.30 0.29 0.28 0.26 0.24 0.22

Inventory+ Receivables to net 33.13 24.55 24.55 24.55 24.55 24.55 24.55 24.55 24.55
Sales (days)
PBDIT 282.35 466.20 476.03 487.95 498.79 509.39 531.15 540.48 526.29
PBDIT (Excluding Interest Int on Unsecured Loans) 282.35 466.20 476.03 487.95 498.79 509.39 531.15 540.48 526.29
RISK RATING RELATED RATIOS
Current Ratio 1.53 1.94 2.25 2.46 2.49 2.56 2.65 2.79 3.10
TOL/TNW (times) 1.67 1.26 0.95 0.71 0.53 0.40 0.29 0.21 0.18
PBDIT(Incliuding Int on Unsecured Loans)/Interest (times) 98.02 110.21 96.08 82.00 67.90 53.79 39.93 25.79 13.85
PBDIT (Excluding Interest Int on Unsecured Loans)/Interest (times) 98.02 110.21 96.08 82.00 67.90 53.79 39.93 25.79 13.85
PAT/Net Sales (%) 2.24 4.07 4.92 5.68 6.32 6.87 7.46 7.85 7.94
ROCE (%) (PBDIT/TA) 14.19 22.88 22.33 21.59 20.62 19.54 18.76 17.56 15.47
DSCR 1.83 1.56 1.64 1.73 1.81 1.90 2.02 2.11 2.82
Average DSCR 1.94
Repayment Schedule

Amount Sanction Moratorium Installments

Term Loan 80000000 Dec-17 1 yr 29

interst rate 13%

Principal installments Quarterly

SI No: Amount Amount Interest Yearly Interest Balance
2018-19 -
Jun-18 80,000,000.00 - 866,666.67 80,000,000.00
Sep-18 80,000,000.00 - 2,600,000.00 80,000,000.00
Dec-18 80,000,000.00 - 2,600,000.00 80,000,000.00
Mar-19 80,000,000.00 - 2,600,000.00 8,666,666.67 80,000,000.00
-
2019-20
Jun-19 80,000,000.00 2,760,000.00 2,600,000.00
Sep-19 77,240,000.00 2,760,000.00 2,510,300.00
Dec-19 74,480,000.00 2,760,000.00 2,420,600.00
Mar-20 71,720,000.00 2,760,000.00 2,330,900.00 9,861,800.00 68,960,000.00
11,040,000.00
2020-21
Jun-20 68,960,000.00 2,760,000.00 2,241,200.00
Sep-20 66,200,000.00 2,760,000.00 2,151,500.00
Dec-20 63,440,000.00 2,760,000.00 2,061,800.00
Mar-21 60,680,000.00 2,760,000.00 1,972,100.00 8,426,600.00 57,920,000.00
11,040,000.00
2021-22
Jun-21 57,920,000.00 2,760,000.00 1,882,400.00
Sep-21 55,160,000.00 2,760,000.00 1,792,700.00
Dec-21 52,400,000.00 2,760,000.00 1,703,000.00
Mar-22 49,640,000.00 2,760,000.00 1,613,300.00 6,991,400.00 46,880,000.00
11,040,000.00
2022-23
Jun-22 46,880,000.00 2,760,000.00 1,523,600.00
Sep-22 44,120,000.00 2,760,000.00 1,433,900.00
Dec-22 41,360,000.00 2,760,000.00 1,344,200.00
Mar-23 38,600,000.00 2,760,000.00 1,254,500.00 5,556,200.00 35,840,000.00
11,040,000.00
2023-24
Jun-23 35,840,000.00 2,760,000.00 1,164,800.00
Sep-23 33,080,000.00 2,760,000.00 1,075,100.00
Dec-23 30,320,000.00 2,760,000.00 985,400.00
Mar-24 27,560,000.00 2,760,000.00 895,700.00 4,121,000.00 24,800,000.00
11,040,000.00
2024-25
Jun-24 24,800,000.00 2,760,000.00 806,000.00
Sep-24 22,040,000.00 2,760,000.00 716,300.00
Dec-24 19,280,000.00 2,760,000.00 626,600.00
Mar-25 16,520,000.00 2,760,000.00 536,900.00 2,685,800.00 13,760,000.00
11,040,000.00
2025-26
 Jun-25 13,760,000.00 2,760,000.00 447,200.00
Sep-25 11,000,000.00 2,760,000.00 357,500.00
Dec-25 8,240,000.00 2,760,000.00 267,800.00
Mar-26 5,480,000.00 2,760,000.00 178,100.00 1,250,600.00 2,720,000.00
2026-27 11,040,000.00
Jun-26 2,720,000.00 2,720,000.00 88,400.00 88,400.00 -
2,720,000.00

47,648,466.67

Interest on Working capital loan

in lakhs
Loan Amount @ 11% 350
2017-18 2018-19 2019-20 2020-21
Interest 9.625 38.5 38.5 38.5
32
 0
Sensitivity Analysis
Case1
If Raw material price increases by 5%
Particulars 2019 2020 2021 2022 2023 2024 2025 2026 2027
PBDIT 309.62 510.20 520.03 531.95 542.79 553.39 575.15 584.48 570.29
Less;Increase in Raw material 95.19 114.22 116.01 118.73 121.45 124.17 128.48 130.97 130.51
Add;Tax Saving 31.47 39.53 40.15 41.09 42.03 42.97 44.46 45.33 45.17
Adjusted PBDIT 245.90 435.51 444.17 454.31 463.37 472.20 491.14 498.84 484.95
Installment and Interest 86.67 209.02 194.67 180.31 165.96 151.61 137.26 122.91 28.08
Revised DSCR 2.84 2.08 2.28 2.52 2.79 3.11 3.58 4.06 17.27
Average DSCR 4.50

Case2
If Sales decreases by 5%
PBDIT 309.62 510.20 520.03 531.95 542.79 553.39 575.15 584.48 570.29
Less;Decrease in Sales 129.25 190.71 195.43 200.03 204.63 209.23 216.11 220.73 220.78
Add;Tax Saving 42.73 66.00 67.64 69.23 70.82 72.41 74.79 76.39 76.41
Adjusted PBDIT 223.11 385.50 392.23 401.15 408.97 416.57 433.83 440.14 425.92
Installment and Interest 86.67 209.02 194.67 180.31 165.96 151.61 137.26 122.91 28.08
Revised DSCR 2.57 1.84 2.01 2.22 2.46 2.75 3.16 3.58 15.17
Average DSCR 3.98

Case3
If interest rate increases by 1%
PBDIT 309.62 510.20 520.03 531.95 542.79 553.39 575.15 584.48 570.29
Increased interest 6.67 7.59 6.48 5.38 4.27 3.17 2.07 0.96 0.07
Add;Tax Saving 2.20 2.63 2.24 1.86 1.48 1.10 0.72 0.33 0.02
Adjusted PBDIT 305.16 505.24 515.79 528.44 539.99 551.32 573.80 583.85 570.25
Installment and Interest 86.67 209.02 194.67 180.31 165.96 151.61 137.26 122.91 28.08
Revised DSCR 3.52 2.42 2.65 2.93 3.25 3.64 4.18 4.75 20.31
Average DSCR 5.29