ASSESSMENT OF WORKING CAPITAL REQUIREMENTS FORM II : OPERATING STATEMENT Amount in : lacs M/S.

PRANAV SPICES INDUSTRIES As per profit and loss account actuals/estimated for the year ended / ending :2009-2010 Actual [1] 1. 2010-2011 Actual [2] 211.88 0.00 0.00 2011-2012 2012-2013 Current Year Following Year Projections Projections [1] [2] 252.62 0.00 0.00 265.81 0.00 0.00

Gross Sales
(i) Domestic Sales (ii) Export Sales Add. : other revenue income 234.73 0.00 0.00

2.

Less : excise duty Deduct other items Net Sales (item 1 - item 2) % age rise (+) or fall (-) in net sales as compared to previous year (annualised) Cost of Sales
(i) Raw materials(including stores and other intems used in the process of manufacture)

0.00 234.73 ---

0.00 211.88 -9.73%

0.00 252.62 19.23%

0.00 265.81 5.22%

3. 4.

5.

(a) Imported (b) Indigenous (ii) Other spares (a) Imported (b) Indigenous (iii) Processing charges (iv) Direct labour / Direct Exps. (Factory wages & salary) (v) Other mfg. Exspenses (vi) Depreciation (vii) SUB-TOTAL (i to vi) (viii) Add : Opening stock-inprocess Sub - Total

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

(ix) Deduct : Closing stock-inProcess (x) Cost of Production/Purchases (xi) Add : Opening stock (xii) Add : Direct Exps. Labour & Wages & Other Expenses Sub - Total (xiii)Deduct : closing stock of finished goods (xiv)SUB-TOTAL (Total cost of sales) Selling, general and administrative expenses SUB-TOTAL (5+6)
Operating profit before interest (3-7)

163.00 48.84 14.27 0.00 226.11 26.08

253.73 26.08 14.34 0.00 294.15 100.54

192.24 100.54 19.35 0.00 312.13 81.33

230.48 81.33 20.42 0.00 332.23 89.55

200.03 23.39 223.42 11.31 4.86 6.45

193.61 5.98 199.59 12.29 6.28 6.01

230.80 6.48 237.28 15.34 8.85 6.49

242.68 6.92 249.60 16.21 9.08 7.13

6. 7. 8. 9. 10. 11.

Interest
Operating profit before Tax (8-9) (i) Add other non-operating income

(a) Premium on DEPB (b) Freight Rebate (c) Prem. on Export Sales (d) Rent, Kasar, Int., etc. Sub-Total (Income)
(ii) Deduct other non-operating exp.

0.00 0.00 0.00 1.21

0.00 0.00 0.00 1.78

0.00 0.00 0.00 1.51

0.00 0.00 0.00 1.40

(a) Depreciation (b) (c) (d) Sub-Total (expenses) (iii) Net of other non-operating income / expenses 12. Profit before tax / loss [ 10 + 11(iii) ] 13. Provision/Payment for Taxes 14. Net profit / loss (12-13) 15. (a) Equity dividend paid-amnt.
(Already paid+B.S. provision)

1.21 -1.21 5.24 0.00 5.24

1.78 -1.78 4.23 0.00 4.23

1.51 -1.51 4.98 0.00 4.98

1.40 -1.40 5.73 0.00 5.73

(b) Dividend Rate (c) Withdrawls 16. Retained profit (14-15) 17. Retained profit/Net Profit (% age)

4.54 0.70 13.36%

3.72 0.51 12.06%

3.50 1.48 29.72%

3.50 2.23 38.92%

FORM III ANALYSIS OF BALANCE SHEET Amount in : lacs M/S. PRANAV SPICES INDUSTRIES As per Balance Sheet as at : 2009-2010 Actual [1] 2010-2011 Actual [2] 2011-2012 2012-2013 Current Year Following Year Projections Projections [1] [2]

CURRENT LIABILITIES
1. Short-term borrowings from banks (incld. bills purchased discounted & excess borrowing placed on repayment basis) (i) From applicant bank (ii) From other banks (iii) (of which BP & BD) Sub Total 2. (A )

19.87 0.00

20.57 0.00

50.00 0.00

50.00 0.00

19.87

20.57

50.00

50.00

Short term borrowings from others Sundry creditors (Trade) Advance payments from customers / deposits from dealers Provision for taxation Dividend payable Other statutory liabilities (due within one year) Deposits/Instalments of term loans/DPGs/Debentures, etc. (due within one year) Other current liabilities & provisions (due within 1 year) (Specify major items) Sub Total (B)

34.30 20.54

45.92 64.18

55.15 15.52

50.15 16.92

3. 4.

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

5. 6. 7. 8.

9.

1.26

0.00

0.72

0.77

21.80 41.67

64.18 84.75

16.24 66.24

17.69 67.69

10. TOTAL CURRENT LIABILITIES (total of 1 to 9 excld. 1 (iii)

TERM LIABILITIES 11. Debentures (not maturing within one year) 12. Preference shares (redeemable after one year) 13. Term loans(excld instalments paybale within one year) 14. Deferred Payment Credits (excluding instalments due within one year) 15. Term deposits (repayable after one year) 16. Other term liabilities 17. TOTAL TERM LIABILITIES
TOTAL OUTSIDE LIABILITIES

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

18. (Item 10 plus item 17) NET WORTH 19. Ordinary share capital 20. General reserve 21. Revaluation Reserve 22. Other reserves provisions) (excluding

41.67

84.75

66.24

67.69

14.43

16.83

18.92

23.65

23. Surplus (+) or deficit (-) in Profit & Loss account

23a.

0.70

0.51

1.48

2.23

Others (specify) Addition

1.70 16.83 92.80

1.58 18.92 149.59

3.25 23.65 145.04

3.00 28.88 146.72

24. NET WORTH 25. TOTAL LIABILITIES

FORM III (CONTINUED) ANALYSIS OF BALANCE SHEET Amount in : lacs M/S. PRANAV SPICES INDUSTRIES As per Balance Sheet as at

ASSETS

2009-2010 Actual [1]

2010-2011 Actual [2]

2011-2012 2012-2013 Current Year Following Year Projections Projections [1] [2]

CURRENT ASSETS
26. Cash and bank balances 27. Investments (other than long term investments) (i) Government & other Trustee securities (ii) Fixed deposits with banks 28. (i) Receivables other than deferred &
exports ( incld. bills purchased and discounted by banks)

13.49

5.31

1.59

1.68

0.00 38.81

0.00 18.62

0.00 38.25

0.00 39.52

(ii) Export receivables (incld. bills purchased and discounted by banks)

0.00

0.00

0.00

0.00

29. Instalments of deferred receivables (due

within one year)

30. Inventory : (i) Raw materials (including stores & other items used in the process of manufacture) a) Imported b) Indigenous (ii) Stock-in-process (iii) Finished goods (iv) Other consumable spares a) Impoted b) Indegenpus 31. Advances to suppliers of raw materials & stores/spares 32. Advance payment of taxes 33. Other current assets (specify major items) 34. TOTAL CURRENT ASSETS

26.08

100.54

81.33

89.55

1.86 80.24

6.24 130.71

6.50 127.67

0.00 130.75

(Total of 26 to 33) FIXED ASSETS 35. Gross Block (land & building machinery, work in progress) Addition Dur year 36. Depreciation to date 37. NET BLOCK (35-36)
OTHER NON-CURRENT ASSETS

13.77 0.00 1.21 12.56

12.56 8.10 1.78 18.88

18.88 0.00 1.51 17.37

17.37 0.00 1.40 15.97

38. Investments/ book debts/ advances/ 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) Others/Prel. Exp. not W/o. 39. Non-consumables stores & spares 40. Other non-current assets incldg dues from directors 41. TOTAL OTHER NON-CURR. ASSETS 42. Intangible assets (patents, goodwill, prelim. expenses, bad/ doubtful expenses not provided for, etc.) 43. TOTAL ASSETS (34+37+41+42) 44. TANGIBLE NET WORTH (24-42) 45. NET WORKING CAPITAL (34-10) 46. Current Ratio (34/10) 47. Total outside Liabilities/ Tangible Net Worth (18/44) 48. Total Term Liabilities/ Tangible Net Worth (17/44)
ADDITIONAL INFORMATION

92.80 16.83 38.57 1.93 2.48 0.00

149.59 18.92 45.96 1.54 4.48 0.00

145.04 23.65 61.43 1.93 2.80 0.00

146.72 28.88 63.06 1.93 2.34 0.00

(A) Arrears of depreciation (B) Contingent Liabilities : (i) Arrears of cumulative dividends (ii) Gratuity liability not provided for
(iii) Disputed excise/customs/

------------------- N.A. -------------------------

tax liabilities

(iv) Other liabilities not Provided for CLASSIFICATION OF CURRENT LIABILITIES AND CURRENT ASSETS a) The Tandon study Group has suggested that the level of bank finance permissible may be determined on the basis of the working capital gap arrived at after taking into account the projected levels of current assets and current liabilities (other than bank borrowings). Though the items to be classified as current assets and current liabilities will be on the basis of the Tranlaners Seminar held in the Bankers Training College in August, 1975, expressed a desite that the Reserve Bank of India should specify the name of items to be classified as current assets It was accordingly decided in the first meeting of Committee of Direction that the committee may study the various items to be classified under the heads "Current Assets" and "Current Liabilities" so that the bankers can adopt a uniform approach in this regard. Broadiy specking, current liabilities would include items payable or expected to be turned over within one year from the date of balance sheet and the form is used principally to designate obligations whose liquidation is reasonably expected to require the use of existing resources property classified as current assets or the creation of other current liabilities. The termcurrent assets is used to designate cash and other assets or resources commonly sentified as those which are reasonably expected to be realised in cash or sold or consumed or turned over during the operating cycle of the business usually not exceeding one year. In the background of the common understanding as above the components of current assets and current liabilities for the purpose of determining capitalgap may broadly be taken as shown in the annexure.

b)

c)

d)

e)

FORM IV COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES Amount in : lacs M/S. PRANAV SPICES INDUSTRIES As per Balance Sheet as at

A. CURRENT ASSETS

2009-2010 Actual [1]

2010-2011 Actual [2]

2011-2012 2012-2013 Current Year Following Year Projections Projections [1] [2]

1.

Raw materials (including stores & other items used in the process of mfg.) (a) Imported : Amount Months' consumption (b) Indigenous : Amount Months' consumption Other consumable spares, excldg those included in (1) above (a) Imported : Amount Months' consumption (b) Indigenous : Amount Months' consumption

2.

3.

Stock-in-process : Amount
Months' cost of Production

4.

Finished goods : Amount

Months' cost of sales

26.08

100.54

81.33

89.55

5.

Receivables other than export & deferred receivables (including bills purchased & discounted by banks) Amount

38.81

18.62

38.25

39.52

Months' cost of sales

(excldg def payment sales)

6.

Export receivables (incld bills purchased & disc.) Amount Amount

Months' export sales

0.00

0.00

0.00

0.00

7.

8.

Advances to suppliers of materials & stores/ spares, consumables Other current assets including cash & bank balances & defer receivables due within one year (specify major items) Cash & Bank balances Investment except long-term Instalments of def receivables others

13.49

5.31

1.59

1.68

9.

TOTAL CURRENT ASSETS

(To agree with item 34 in Form III)

78.38

124.47

121.17

130.75

B. CURRENT LIABILITIES
Other than bank borrowings for working capital) 10. Creditors for purchase of raw materials, stores and consumable spares (Months' Purchase) 11. Advances from customers 12. Statutory liabilities 13. Other current liabilities- specify major items a) S.T. Borrowings-others b) Dividend payable c) Instalments of TL, DPG and public deposits d) Other current liabilities and Provisions 20.54 64.18 15.52 16.92

0.00 0.00 1.26

0.00 0.00 0.00

0.00 0.00 0.72

0.00 0.00 0.77

0.00

0.00

0.00

0.00

14. TOTAL (to agree with sub. Total B of form no. III)

21.80

64.18

16.24

17.69

ASSESSEMENT OF WORKING CAPITAL REQUIREMENTS (For Traders & Morchant Exporters) FORM IV COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES (Amounts Rs. in lacs) M/S. PRANAV SPICES INDUSTRIES

A. CURRENT ASSETS

2009-2010 Actual [1]

2010-2011 Actual [2]

2011-2012 2012-2013 Current Year Following Year Projections Projections [1] [2]

1. 2.

3.

4. 5.

6.

Stocks-in-trade (months' cost of sales) (item 30) Receivables other than export and defered receivables (Including BP/BD) (months' export sales :) [Item 28 (I)] Export receivables (including BP/BD) (months' export sales :) [Item 28 (II)] Advances : to suppliers of Merchandise Other current assets (including BP/BD & defered receivables due withing one year) TOTAL CURRENT ASSETS (To agree with item 34 in Form (II)

26.08 38.81

100.54 18.62

81.33 38.25

89.55 39.52

0.00

0.00

0.00

0.00

13.49

5.31

1.59

1.68

78.38

124.47

121.17

130.75

B.

LIABILITIES (Other than bank borrowings forworking capital) CURRENT

7.

Sundry Creditors (Trade) (Months' purchases) 8. Adv. payment from customers / deposits from dealers 9. Statutory liabilities 10. Other Current Liabilities

20.54

64.18

15.52

16.92

0.00

0.00

0.00

0.00

11. TOTAL (To agree with sub-total B - Form III)

20.54

64.18

15.52

16.92

FORM V COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL Amount in : lacs M/S. PRANAV SPICES INDUSTRIES As per Balance Sheet as at
FIRST METHOD OF LANDING

2009-2010 Actual [1]

2010-2011 Actual [2]

2011-2012 2012-2013 Current Year Following Year Projections Projections [1] [2] 127.67 16.24 111.43 44.57 61.43 66.86 50.00 50.00 0.00 130.75 17.69 113.06 45.22 63.06 67.84 50.00 50.00 0.00

1. 2. 3. 4.

Total current assets Other current liabilities (other than bank borrowings) Working capital gap Min. stipulated Net working capital (40 % of WCG excluding export receivables) Actual/Projected net working capital 45 in Form III Item 3 minus item 4 Item 3 minus item 5 Maximum permissible bank finance (lower of 6 or 7)
Excess borrowings representing shortfall in NWC SECOND METHOD OF LENDING

80.24 21.80 58.44 14.61 38.57 43.83 19.87 19.87 0.00

130.71 64.18 66.53 16.63 45.96 49.90 20.57 20.57 0.00

5. 6. 7. 8. 9.

1. 2. 3. 4.

Total current assets Other current liabilities (other than bank borrowings) Working capital gap Minimum stipulated NWC (40 % of total current assets excluding export receivables) Actual/projected net working capital Item 3 minus Item 4 Item 3 minus Item 5 Maximum permissible bank finance (lower of 6 or 7)

80.24 21.80 58.44 20.06

130.71 64.18 66.63 32.68

127.67 16.24 111.43 51.07

130.75 17.69 113.06 52.30

5. 6. 7. 8.

38.57 38.38 19.87 19.87

45.96 33.95 20.67 20.67

61.43 60.36 50.00 50.00

63.06 60.76 50.00 50.00

Maximum permissible finance (lower of 6 or 7) 9.

bank

Excess borrowings representing shortfall in NWC

FORM VI : FUND FLOW STATEMENT Amount in : lacs M/S. PRANAV SPICES INDUSTRIES As per Balance Sheet as at 2009-2010 Actual [1] 1. SOURCES a) Net profit (after tax) b) Depreciation c) Increase in capital d) Increase in term liabilities, incldg public deposits e) Decrease in i) Fixed assets ii) other non-current assets f) Others P & P W/off g) TOTAL 2. a) Net loss b) Decrease in term liabilities, incldg public deposits c) Increase in i) Fixed assets ii) Other non-current assets
d) dividend payment/withdrawls

2010-2011 Actual [2]

2011-2012 2012-2013 Current Year Following Year Projections Projections [1] [2]

5.24 1.21 1.70 0.00

4.23 1.78 1.58 0.00

4.98 1.51 3.25 0.00

5.73 1.40 3.00 0.00

0.00 0.00 0.00 8.15

0.00 0.00 0.00 7.59

0.00 0.00 0.00 9.74

0.00 0.00 0.00 10.13

USES 0.00 0.00 0.00 0.00

0.00

0.00

0.00

0.00

0.00 0.00 4.54 0.00

8.10 0.00 3.72 0.00

0.00 0.00 3.50 0.00

0.00 0.00 3.50 0.00

e) others

f) TOTAL

4.54

3.72

3.50

3.50

3. 4.

Long Term Surplus/Deficit Increase/ decrease in current assets * (as per details given below) Increase/ decrease in current liabilities other than Bank borrowings Increase / decrease in working capital gap Net surplus (+) / deficit (-) (Diff. of 3 & 6) Increase / decrease in Bank borrowings

3.61

3.87

6.24

6.63

0.00

58.65

0.68

2.99

5.

0.00

42.38

-47.94

1.45

6.

0.00

16.27

48.62

1.54

7. 8.

3.61 0.00

-12.40 0.70

-42.38 29.43

5.09 0.00

INCREASE/DECREASE IN NET SALES

0.00

-22.85

40.74

13.19

* Break-up of (4) i) Increase/ decrease in Raw Materials ii) Increase/ decrease in stock in trade iii) Increase/ decrease in Finished Goods iii) Increase/ decrease in Receivables (a) Domestic (b) Export v) Increase/ decrease in stores and spares vi) Increase/ decrease in other current assets 0.00 0.00 0.00 0.00

0.00

0.00

0.00

0.00

0.00

74.46

-19.21

8.22

0.00 0.00

-20.19 0.00

19.63 0.00

1.27 0.00

0.00

0.00

0.00

0.00

0.00

4.38

0.26

-6.50

TOTAL

0.00

58.65

0.68

2.99

2013-2014 Following Year Projections [3] 272.51 0.00 0.00

0.00 272.51 2.52%

0.00

0.00

228.41 89.55 22.96 0.00 340.92 92.36

248.56 7.12 255.68 16.83 9.12 7.71

0.00 0.00 0.00 1.26

1.26 -1.26 6.45 0.00 6.45

3.50 2.95 45.74%

2013-2014 Following Year Projections [3]

50.00 0.00

50.00

50.15 17.50

0.00 0.00 0.00 0.00 0.00

0.82

18.32 68.32

0.00

0.00

0.00 0.00

68.32

28.88

2.95

3.00 34.83 153.30

2013-2014 Following Year Projections [3]

5.58

0.00 40.65

0.00

92.36

0.00 138.59

15.97 0.00 1.26 14.71

153.30 34.83 70.27 2.03 1.96 0.00

2013-2014 Following Year Projections [3]

92.36

40.65

0.00

5.58

138.59

17.50

0.00 0.00 0.82

0.00

18.32

2013-2014 Following Year Projections [3]

92.36 40.65

0.00

5.58

138.59

17.50

0.00

17.50

2013-2014 Following Year Projections [3] 138.59 18.32 120.27 48.11 70.27 72.16 50.00 50.00 0.00

138.59 18.32 120.27 55.44

70.27 64.83 50.00 50.00

2013-2014 Following Year Projections [3]

6.45 1.26 3.00 0.00

0.00 0.00 0.00 10.71

0.00

0.00

0.00 0.00 3.50 0.00

3.50

7.21

3.94

0.63

3.31

3.90 0.00

6.70

0.00

0.00

2.81

1.13 0.00

0.00

0.00

3.94

M/S. PRANAV SPICES INDUSTRIES ANNEXURE TO C.M.A. DATA FORM FOR THE YEAR 2012-13. Amount in : lacs (1) CALCULATION OF RAW MATERIAL CONSUMPTION : 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 [1] [2] [1] [2] [3] 48.84 26.08 100.54 81.33 89.55 163.00 14.27 226.11 26.08 200.03 0.00 200.03 253.73 14.34 294.15 100.54 193.61 0.00 193.61 192.24 19.35 312.13 81.33 230.80 0.00 230.80 230.48 20.42 332.23 89.55 242.68 0.00 242.68 228.41 22.96 340.92 92.36 248.56 0.00 248.56

Opening Stock :
Purchases : Direct Expenses : Less :- Closing Stock :

Add :- Sales Tax Set Off : Raw Material Consumed :

(2)

PROFIT : Interest to Partners Remuneration to Partners Profit 0.00 0.00 5.24 5.24 0.00 0.00 4.23 4.23 0.00 0.00 4.98 4.98 0.00 0.00 5.73 5.73 0.00 0.00 6.45 6.45

NOTE : (3) DEBT - EQUITY RATIO : Unsecured Deposits Cash Credit Creditors Total Liabilities : Equity : Partners' Capital : Ratio :

Retained Profit is shown which is inclusive interest & Remuneration.

34.30 19.87 20.54 74.71 16.83 4.44

45.92 20.57 64.18 130.67 18.92 6.91

55.15 50.00 15.52 120.67 23.65 5.10

50.15 50.00 16.92 117.07 28.88 4.05

50.15 50.00 17.50 117.65 34.83 3.38

(4) Cash Credit Creditors Total Liabilities : Equity : Proprietor's Capital : Unsecured Deposit :

19.87 20.54 40.41 16.83 34.30 51.13 0.79 270

20.57 64.18 84.75 18.92 45.92 64.84 1.31 270

50.00 15.52 65.52 23.65 55.15 78.80 0.83 270

50.00 16.92 66.92 28.88 50.15 79.03 0.85 270

50.00 17.50 67.50 34.83 50.15 84.98 0.79 270

Ratio : (5) Working Days in a year :

neration.

M/S. PRANAV SPICES INDUSTRIES PROJECTED BALANCE SHEET LIABILITIES : 2009-2010 [1] Proprietor's Capital 16.83 Unsecured Deposits 34.30 Tern Loan From Bank 0.00 Bank Cash Credit 19.87 Sundry Creditors 20.54 Statutory/Current Liabilities : 1.26 TOTAL : 92.80 Amount in : lacs 2010-2011 2011-2012 2012-2013 2013-2014 [2] [1] [2] [3] 18.92 23.65 28.88 34.83 45.92 55.15 50.15 50.15 0.00 0.00 0.00 0.00 20.57 50.00 50.00 50.00 64.18 15.52 16.92 17.50 0.00 0.72 0.77 0.82 149.59 145.04 146.72 153.30

ASSETS : Amount in : lacs 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 [1] [2] [1] [2] [3] Fixed Assets 12.56 18.88 17.37 15.97 14.71 Deposits / Investments 0.00 0.00 0.00 0.00 0.00 Stock in Trade 26.08 100.54 81.33 89.55 92.36 Receivables 38.81 18.62 38.25 39.52 40.65 Cash & Bank Balances 13.49 5.31 1.59 1.68 5.58 Preliminary exps./Other C.A. 1.86 6.24 6.50 0.00 0.00 TOTAL : 92.80 149.59 145.04 146.72 153.30