INPUT

Operational Parameters Financial Assumption

Capacity MW 1 Debt
PLF Plant Load Factor (PLF) % 17.50% Equity
Losses % 1.0%
Construction Start Date 1-Apr-13 Rupee Term Loan
COD Commercial Operations Date (COD) Engineerin 1-Oct-13 EXIM Loan

Cost Parameters Interest on RTL Rupee Term L

Project Cost Interest reduction on CoD
Module Costs Rs Million 43 Moratorium Period from COD
Other Costs Rs Million 27 Repayment Tenure
Others Rs Million 0 Repayment profile
Development + Others Rs Million 3
IDC Interest During ConstructionRs Million 0.58 Interest on EXIM Loan
Total Project Cost Rs Million 73.16 Interest reduction on CoD
Rs Cr/MW 7.32 Moratorium Period from COD
Operating Cost Parameters Repayment Tenure
O&M Cost Repayment profile
Base Year Ratio of EPC Cost Engineeri% 1.00%
Base Year O&M Cost Rs Million 0.73 Working Capital Margin
Annual Escalation in O&M Cost % 5.00%
Employee Cost Sales Off-take assumptions - Reg
Base Year Ratio of EPC Cost % 0.25% Base Tariff
Base Year Employee Cost Rs Million 0.18 Escalation rate
Annual Escalation in Employee Cost % 5.00% No. of years
Admin & General CDM Clean Development Mechanism (
Base Year Ratio of EPC Cost % 0.15% CER Certified Emission Reduction
Base Year A&G Cost Rs Million 0.11 Delay in CDM Revenue
Annual Escalation in A&G Cost % 5.00% CDM available till
CDM Zone
Insurance (% of Book Value) % 0.25%
Replacement Cost for Inverter Rs Million 8
Replacement to be done in Years 14 Clean Development Mechani

O&M Cost in Lakhs 10.16 per MW

Generation 1,533,000 per MW

Financial Assumptions Returns Structure
% 70% Equity IRR for IPP 17.449% FY
% 30% 2013
2014
% 100% Minimum DSCR 0.92 2015
% 0% Average DSCR 1.70 2016
2017
RTL Rupee Term L % 12.00% Input costs $/Wp INR 2018
uction on CoD % 0.00% Module 0.72 43.0 2019
Period from COD Years 0 Inverter 0.07 4.0 2020
Years 10 Civil 0.01 0.5 2021
Equal Structures 0.06 3.5 2022
BOS 0.16 9.5 2023
% 0.00% Margin 0.15 9.1 2024
uction on CoD % 0.00% Land - 0.0 2025
Period from COD Years 1 Total 1.16 69.6 2026
Years 6 2027
Equal Exchange Rate Assumptions 2028
$/INR 60.0 2029
pital Margin % 25% Euro/INR 80.0 2030
2031
e assumptions - Regulated market Tax and Depreciation Assumptions 2032
Rs/Unit 7.00 Tax Scenario Current
% 5.0% Depreciation Normal
Yrs. 25 Is 80IA Applicable 0
elopment Mechanism (CDM). 0 80IA Start year 1
Emission ReductionEuro 2.0
Years 2
Year 2020
South
EPC Price / DC (Cr/MWp) 6.96

evelopment Mechanism (CDM)

 Structured Repayment Profile
Days RTL Days EXIM Loan DSCR
0 0.00% 0 0.00%
182 0.00% 0 0.00% 1.158
365 4.00% 182 13.00% 0.915
366 5.00% 366 14.50% 1.017
365 5.00% 365 18.50% 1.130
365 7.00% 365 4.00% 1.259
365 7.50% 365 5.00% 1.364
366 8.00% 366 6.00% 1.418
365 10.00% 183 6.50% 1.563
365 12.00% 0 9.00% 1.738
365 14.00% 0 4.00% 1.954
183 16.00% 0 4.50% 4.213
0 11.50% 0 5.00% 14002.971
0 0.00% 0 10.00% 14491.332
0 0.00% 0 0.00% 12816.43
0 0.00% 0 0.00% 7014.24
0 0.00% 0 0.00% 13887.06
0 0.00% 0 0.00% 14459.08
0 0.00% 0 0.00% 15053.9
0 0.00% 0 0.00% 15672.1
100% 100%
NEWNE Equity DTC
South BG Current
 Normal 1 1 Equal
Accelarated 0 2 Structured
3
4
5
6
 Other Assumptions
Iteration Switch 1

Bid Assumptions
Start Date Date 1-Apr-13
Time to Commission Months 6
COD Date 1-Oct-13

Capacity MW 1

Project Cost
Land cost INR Million 0.00
Module Costs INR Million 43.00
Other Costs INR Million 26.58
Others INR Million 0.00
Development + Others INR Million 3.00
IDC Interest During Construction (IDC) INR Million 0.58
Total Project Cost INR Million 73.16
INR Million/MW 73.16

Financing Cost Parameters

Debt % % 70%
Equity % % 30%
Debt Component INR Million 51.21
Equity Component INR Million 21.95

Upfront Equity - % of total equity % 100%

Loan Ratios
Rupee Term Loan 100.00%
Foreign Currency Loan 0.00%
Total 100.00%

Rupee Term Loan

Moratorium Period (from COD) Years 0
Repayment in years Years 10
Int. Rate reduction after COD % 0.00%
Interest Rate before COD % 12.00%
Interest Rate after COD % 12.00%
Repayment profile Equal

Foreign Currency Loan

Currency USD USD
Exchange Rate Foreign Currency : INR 60.00
Moratorium Period (From COD) Years 1
Repayment Period Years 6
Int. Rate reduction after COD % 0.00%
Interest Rate before COD % 0.00%
Interest Rate after COD % 0.00%
Repayment profile Equal

Depreciation Assumptions
 Book Depreciation % 5.28%
Depreciable Asset % 95%

Tax Depreciation rate % 7.69%

Accelerated Depreciation rate % 80.00%
Depreciable Asset % 100%
Applicable Depreciation % 7.69%

Full Operation
Gross CUF % 17.5%
Losses within the Plant % 1.0%
Net CUF % 17.3%
Derating per Annum % 0.8%
Derating start year Years 2

Useful Life Years 25

Salvage Value (% of EPC) % 10.0%

Salvage Value INR Million 7.26

Operating Cost Parameters

Employee Cost
Base Year Ratio of EPC Cost % 0.25%
Base Year Employee Cost INR Million 0.18
Annual Escalation in Employee Cost % 5.00%

Admin & General

Base Year Ratio of EPC Cost % 0.15%
Base Year A&G Cost INR Million 0.11
Annual Escalation in A&G Cost % 5.00%

O&M Cost
Base Year Ratio of EPC Cost % 1.00%
Base Year O&M Cost INR Million 0.73
Annual Escalation in O&M Cost % 5.00%

Insurance (% of Book Value) % 0.25%

Misc. expenses (% of O&M) % 0.00%
Replacement Cost for Inverter INR Million 8
Replacement to be done in Year 14

Working Capital
OM Expenses Months 1
Maintenance Spares (% of OM Expenses) % 15%
Receivables Months 2

Margin Money Requirement % 25%

Working Capital Interest % 12.0%

Offtake assumption
Base Tariff Rs per Kwh 7.00
Escalation % 5.0%
 CDM
CER Price Euro 2
INR 0
Delay in CDM Revenue Years 2
CDM available till Year 2020
CDM Zone South
CDM Factor 0.90
CDM Sharing
Starting developer share % 100%
Decrease in Developer share per annum % 10%
Minimum developer share % 50%

Debt Service Reserve Account Months 3

DSRA Source BG
Bank Guarantee Fee % 0.70%
Interest on DSRA % 9.00%

Tax
Corporate Tax rate % 32.75%
MAT rate % 0.00%
Is 80IA applicable ? 0
80IA Benefit Start year (Year from COD) Year 1

Currency Exchange Rate

USD 60.00
YEN 0.64
EURO 80.00

1 Equal
0 Structured

Crystalline
Thin film a-Si Equity
Thin film cDTe BG
Thin film CIGS

NEWNE 0.94
South 0.90
Switch
SLM

SLM
WDV

SLM

Author:
You may consider 100%
here
 Start
Construction start date 1-Apr-13
COD 1-Oct-13
Month Start Date 1-Apr-13
Month ending date 30-Apr-13
No of Days 30
Financial Year 2014
Construction Status 1

10%
Construction Cost Phasing: 10%

Land cost % 100% 100%

Module Costs % 100% 20%
Other costs % 100% 20%

Land cost Rs Million 0.00 -

Module Costs Rs Million 43.00 8.60
Other costs Rs Million 29.58 5.92
Interest During Construction Rs Million 0.58 -
Total Rs Million 73.16 14.52

Financing :

Total Debt Rs Million 51.2

Total Equity Rs Million 21.9

Upfront Equity
as a % of total equity % 100%
Upfront Equity Rs Million 21.9
Corresponding debt available Rs Million 51.2

Funding Requirement
Capital Cost Rs Million 73.2 14.52
Upfront equity available Rs Million 21.95
Upfront equity utilized Rs Million 14.52
To be funded after upfront equity Rs Million -
Initial Debt available Rs Million 51.21
Initial Debt utilized Rs Million -
To be funded Rs Million -

Equity Drawdown
Opening Balance Rs Million -
 Addition Rs Million 21.9 14.52
Closing Balance Rs Million 14.52

Debt Drawdown
Opening Balance Rs Million -
Addition Rs Million 51.21 -
Closing Balance Rs Million -

Funding Check OK

Rupee Term Loan

Percentage of Total Debt % 100%
Opening Loan Amount Rs Million -
Addition Rs Million -
Closing Loan Amount Rs Million -
Annual Interest Rate % 12.00%
IDC -

Exim Loan
Percentage of Total Debt % 0%
Opening Loan Amount Rs Million -
Addition Rs Million -
Closing Loan Amount Rs Million
Annual Interest Rate % 0.00%
IDC -

TOTAL IDC 0.58 -

COD 1-Oct-13
Project End Date 30-Sep-38
Year Start Date 1-Apr-12
Year ending date 31-Mar-13
No of Days 0
Financial Year 2013
Operations 0

Debt Calculations:

Rupee Term Loan

Percentage of Total Debt % 100%
Annual Interest Rate % 12.00% 12.00%
Moratorium Period (from Unit COD) Years 0
Repayment Period Years 10
Repayment Profile Equal

Debt Amount Rs Million 51.21

Installment quantum for Repayment Rs Million 5.12
Repayment Start Date Date 1-Oct-13
Repayment End Date Date 30-Sep-23
Repayment Start 0
Repayment Days 0
Loan BF Rs Million -
Drawdown Rs Million -
Repayment Rs Million -
Loan CF Rs Million -

Interest Payable on Rupee Loan Rs Million -

Foreign Currency Loan

Percentage of Total Debt % 0%
Annual Interest Rate % 0.00% 0.00%
Moratorium Period (from Unit COD) Years 1
Repayment Period Years 6
Repayment Profile Equal

Debt Amount Rs Million -

Installment quantum for Repayment Rs Million -
Repayment Start Date Date 1-Oct-14
Repayment End Date Date 30-Sep-20
Repayment Start 0
Repayment Days 0
Loan BF Rs Million -
Drawdown Rs Million -
Repayment Rs Million -
Loan CF Rs Million -

Interest Payable on Foreign Loan Rs Million -

TOTAL Repayments Rs Million -

TOTAL Interest Payment Rs Million -
Debt Service Requirement Rs Million -
TOTAL Debt Rs Million -
 DSRA Requirement
DSRA Requirement Months 3
Opening DSRA Rs Million -
Addition in DSRA Rs Million -
Drawal from DSRA Rs Million -
Closing DSRA Rs Million -
DSRA Source BG
Interest Rate for DSRA % 9%
Interest on DSRA Rs Million -
Bank Guarantee Fee % 0.70%
DSRA Bank Guarantee Costs Rs Million -

Repayment Schedule:

Rupee Term Loan

Percentage of Total Debt % 100.00%
Debt amount Rs Million 51.21

Moratorium Period (from Unit COD) Years 0

Repayment Period Years 10
Repayment Start Date Date 1-Oct-13
Repayment End Date Date 30-Sep-23
Repayment Days Days 0

Equal Repayments % 0.00%

Repayment Rs Million -
Check: Error
Structured repayments % 0.00%
Repayment Rs Million -
Check: -

Foreign Currency Loan

Percentage of Total Debt % 0.00%
Debt amount Rs Million -

Moratorium Period (from Unit COD) Years 1

Repayment Period Years 6
Repayment Start Date Date 1-Oct-14
Repayment End Date Date 30-Sep-20
Repayment Days Days 0

Equal Repayments % 0.00%

Repayment Rs Million -
Check -
Structured repayments % 0.00%
Repayment Rs Million -
Check -
 1-May-13 1-Jun-13 1-Jul-13 1-Aug-13 1-Sep-13 1-Oct-13 1-Nov-13 1-Dec-13
31-May-13 30-Jun-13 31-Jul-13 31-Aug-13 30-Sep-13 31-Oct-13 30-Nov-13 31-Dec-13
31 30 31 31 30 0 0 0
2014 2014 2014 2014 2014 2014 2014 2014
0 1 0 1 0 1 1 1

30% 0% 0% 30% 0% 20% 10% 0%

30% 0% 0% 30% 0% 20% 10% 0%

0% 20% 0% 30% 0% 10% 0% 10%

0% 20% 0% 30% 0% 10% 10% 10%

- - - - - - - -
- 8.60 - 12.90 - 4.30 - 4.30
- 5.92 - 8.87 - 2.96 2.96 2.96
- 0.04 0.07 0.19 0.29 - - -
- 14.55 0.07 21.96 0.29 7.26 2.96 7.26

- 14.55 0.07 21.96 0.29 7.26 2.96 7.26

7.43 7.43 - - - - - -
- 7.43 - - - - - -
- 7.12 0.07 21.96 0.29 7.26 2.96 7.26
51.21 51.21 44.09 44.02 22.06 21.77 14.52 11.56
- 7.12 0.07 21.96 0.29 7.26 2.96 7.26
- - - - - - - -

14.52 14.52 21.95 21.95 21.95 21.95 21.95 21.95

 - 7.43 - - - - - -
14.52 21.95 21.95 21.95 21.95 21.95 21.95 21.95

- - 7.12 7.19 29.15 29.44 36.69 39.65

- 7.12 0.07 21.96 0.29 7.26 2.96 7.26
- 7.12 7.19 29.15 29.44 36.69 39.65 46.91

- - 7.12 7.19 29.15 29.44 36.69 39.65

- 7.12 0.07 21.96 0.29 7.26 2.96 7.26
- 7.12 7.19 29.15 29.44 36.69 39.65 46.91

- 0.04 0.07 0.19 0.29 - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -

- 0.04 0.07 0.19 0.29 - - -

1-Apr-13 1-Apr-14 1-Apr-15 1-Apr-16 1-Apr-17 1-Apr-18 1-Apr-19 1-Apr-20

31-Mar-14 31-Mar-15 31-Mar-16 31-Mar-17 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21
182 365 366 365 365 365 366 365
2014 2015 2016 2017 2018 2019 2020 2021
1 2 3 4 5 6 7 8
12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%

0 1 1 1 1 1 1 1
182 365 366 365 365 365 366 365
- 48.66 43.54 38.41 33.29 28.17 23.05 17.93
51.21 - - - - - - -
2.55 5.12 5.12 5.12 5.12 5.12 5.12 5.12
48.66 43.54 38.41 33.29 28.17 23.05 17.93 12.81

1.46 5.53 4.92 4.30 3.69 3.07 2.46 1.84

1.16 0.92 1.02 1.13 1.26 1.36 1.42 1.56

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0 0 0 0 0 0 0 0
0 182 366 365 365 365 366 183
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -

2.55 5.12 5.12 5.12 5.12 5.12 5.12 5.12

1.46 5.53 4.92 4.30 3.69 3.07 2.46 1.84
4.01 10.65 10.04 9.42 8.81 8.19 7.58 6.97
48.66 43.54 38.41 33.29 28.17 23.05 17.93 12.81
 - 2.66 1.76 2.51 2.36 2.20 2.05 1.89
2.66 - 0.75 (0.15) (0.15) (0.15) (0.15) (0.15)
- 0.90 - - - - - -
2.66 1.76 2.51 2.36 2.20 2.05 1.89 1.74

- - - - - - - -

0.02 0.02 0.02 0.02 0.02 0.02 0.01 0.01

182 365 366 365 365 365 366 365

4.99% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%

2.55 5.12 5.12 5.12 5.12 5.12 5.12 5.12

0.00% 4.00% 5.00% 5.00% 7.00% 7.50% 8.00% 10.00%

- 2.05 2.56 2.56 3.58 3.84 4.10 5.12

0 182 366 365 365 365 366 183

0.00% 8.31% 16.67% 16.67% 16.67% 16.67% 16.67% 8.36%

- - - - - - - -
0.00% 13.00% 14.50% 18.50% 4.00% 5.00% 6.00% 6.50%
- - - - - - - -
 1-Jan-14 1-Feb-14 1-Mar-14 1-Apr-14 1-May-14 1-Jun-14 1-Jul-14 1-Aug-14
31-Jan-14 28-Feb-14 31-Mar-14 30-Apr-14 31-May-14 30-Jun-14 31-Jul-14 31-Aug-14
0 0 0 0 0 0 0 0
2014 2014 2014 2015 2015 2015 2015 2015
1 0 0 0 0 0 0 0

10% 10% 10%

10% 10% 0%

10%

- - - - - - - -
4.30 - - - - - - -
- - - - - - - -
- - - - - - - -
4.30 - - - - - - -

4.30 - - - - - - -
- - - - - - - -
- - - - - - - -
4.30 - - - - - - -
4.30 - - - - - - -
4.30 - - - - - - -
- - - - - - - -

21.95 21.95 21.95 21.95 21.95 21.95 21.95 21.95

 0.00 - - - - - - -
21.95 21.95 21.95 21.95 21.95 21.95 21.95 21.95

46.91 51.21 51.21 51.21 51.21 51.21 51.21 51.21

4.30 - - - - - - -
51.21 51.21 51.21 51.21 51.21 51.21 51.21 51.21

46.91 51.21 51.21 51.21 51.21 51.21 51.21 51.21

4.30 - - - - - - -
51.21 51.21 51.21 51.21 51.21 51.21 51.21 51.21

- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -

- - - - - - - -

1-Apr-21 1-Apr-22 1-Apr-23 1-Apr-24 1-Apr-25 1-Apr-26 1-Apr-27 1-Apr-28

31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27 31-Mar-28 31-Mar-29
365 365 366 365 365 365 366 365
2022 2023 2024 2025 2026 2027 2028 2029
9 10 11 12 13 14 15 16
12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%

1 1 1 1 1 1 1 1
365 365 183 0 0 0 0 0
12.81 7.69 2.57 0.01 0.01 0.01 0.01 0.01
- - - - - - - -
5.12 5.12 2.56 - - - - -
7.69 2.57 0.01 0.01 0.01 0.01 0.01 0.01

1.23 0.62 0.15 0.00 0.00 0.00 0.00 0.00

1.74 1.95 4.21 14,002.97 14,491.33 12,816.43

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -

5.12 5.12 2.56 - - - - -

1.23 0.62 0.15 0.00 0.00 0.00 0.00 0.00
6.35 5.74 2.71 0.00 0.00 0.00 0.00 0.00
7.69 2.57 0.01 0.01 0.01 0.01 0.01 0.01
 1.74 1.59 1.43 0.68 0.00 0.00 0.00 0.00
(0.15) (0.15) (0.76) (0.68) 0.00 - - -
- - - - - - - -
1.59 1.43 0.68 0.00 0.00 0.00 0.00 0.00

- - - - - - - -

0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00

365 365 183 0 0 0 0 0

10.00% 10.00% 5.00% 0.00% 0.00% 0.00% 0.00% 0.00%

5.12 5.12 2.56 - - - - -

12.00% 14.00% 16.00% 11.50% 0.00% 0.00% 0.00% 0.00%

6.15 7.17 8.19 5.89 - - - -

0 0 0 0 0 0 0 0

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - - - -
9.00% 4.00% 4.50% 5.00% 10.00% 0.00% 0.00% 0.00%
- - - - - - - -
 1-Apr-29 1-Apr-30 1-Apr-31 1-Apr-32 1-Apr-33 1-Apr-34 1-Apr-35 1-Apr-36
31-Mar-30 31-Mar-31 31-Mar-32 31-Mar-33 31-Mar-34 31-Mar-35 31-Mar-36 31-Mar-37
365 365 366 365 365 365 366 365
2030 2031 2032 2033 2034 2035 2036 2037
17 18 19 20 21 22 23 24
12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%

1 1 1 1 1 1 1 1
0 0 0 0 0 0 0 0
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
- - - - - - - -
- - - - - - - -
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -

- - - - - - - -
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- - - - - - - -
- - - - - - - -
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

- - - - - - - -

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0 0 0 0 0 0 0 0

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - - - -

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - - - -

0 0 0 0 0 0 0 0

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - -
 1-Apr-37 1-Apr-38 1-Apr-39 1-Apr-40 1-Apr-41 1-Apr-42 1-Apr-43 1-Apr-44
31-Mar-38 31-Mar-39 31-Mar-40 31-Mar-41 31-Mar-42 31-Mar-43 31-Mar-44 31-Mar-45
365 183 0 0 0 0 0 0
2038 2039 2040 2041 2042 2043 2044 2045
25 26 0 0 0 0 0 0
12.00%

1
0
0.01
-
-
0.01

0.00

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0
0
-
-
-
-

-
0.00
0.00
0.01
0.00
-
-
0.00

0.00

0.00%
-

0.00%
-

0.00%
-
0.00%
-
 1-Apr-45 1-Apr-46 1-Apr-47 1-Apr-48 1-Apr-49 1-Apr-50 1-Apr-51
31-Mar-46 31-Mar-47 31-Mar-48 31-Mar-49 31-Mar-50 31-Mar-51 31-Mar-52
0 0 0 0 0 0 0
2046 2047 2048 2049 2050 2051 2052
0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
 COD 1-Oct-13
Project End Date 30-Sep-38
Year Start Date 1-Apr-12
Year ending date 31-Mar-13
No of Days 0
Financial Year 2013
Operations 0

Capital Structure:

Equity Rs Million 21.95 -

Rupee Term Loan Rs Million -

Exim Loan Rs Million -
Total Term Loan Rs Million 51.21 -

Book Depreciation
Depreciation Rate % 5.28%
Maximum Permissible Depreciation % 95%
Gross Assets Rs Million 73 -
Depreciable Asset Rs Million 69 -
Depreciation Rs Million -
Accumulated Depreciation Rs Million -
Net Assets Rs Million -

Tax Depreciation
Applicable Depreciation Rate % 7.69% SLM
Maximum Permissible Depreciation % 100%
Gross Assets Rs Million 73 -
Depreciable Asset Rs Million 73 -
Depreciation Rs Million -
Accumulated Depreciation Rs Million -
Net Assets Rs Million -

Days of Operation - 1 0
Days of Operation - 2 0

Revenue:

Capacity MW 1
Gross CUF % 17.5%
Derating % 0.8%
Derating start Year Year 2

Units generated at Gross CUF MU -

Units generated after derating MU -
Auxiliary Consumption % 1.0%
Auxiliary Consumption MU -

Units Available for Sale MU -

Tariff INR/Unit 7 -
Escalation % 5.0% -
Applicable tariff with escalation INR/Unit -

Revenue from Sale of Power Rs Million -

CDM available till Year 2020

CERs Generated Nos -
Starting developer share % 100%
Decrease in Developer share per annum % 10%
Minimum developer share % 50%
Share to Developer % 0.0%

Price per CER INR 0

CER Revenue Rs Million -
Delay in CER Revenue Years 2
Revnue from CDM Rs Million -

TOTAL Revenue Rs Million -

Expenses:

Base Year O&M Cost Rs Million 0.73

Escalation % 5.0%
O&M Costs Rs Million -

Base Year Employee costs Rs Million 0.18

Escalation % 5.0%
Employee Costs Rs Million -

Base year A&G costs Rs Million 0.11

Escalation % 5.0%
A&G costs Rs Million -
 Insurance costs (% of Book Value) % 0.25%
Insurance costs Rs Million -

Misc. expenses (% of O&M) % 0.00%

Misc. expenses Rs Million -

Replacement Cost Rs Million 8 -

Replacement to be done in Year 14

TOTAL Expenses Rs Million -

Salvage Value Rs Million 7.26 -

Working Capital:

OM Expenses Month 1
OM Expenses Rs Million -

Maintenance Spares % 15%

Maintenance Spares Rs Million -

Receivables Months 2
Receivables Rs Million -

TOTAL Working Capital Rs Million -

Opening Working Capital Rs Million -

Additions Rs Million -
Closing Working Capital Rs Million -

Margin Money Requirement % 25%

Opening Margin Money Rs Million -
Addition Rs Million -
Closing Margin Money Rs Million -

Opening Working Capital Loan Rs Million -

Addition -
Closing Working Capital Loan Rs Million -

Interest on Working Capital % 12.00%

WC Interest Rs Million -

Operating Revenue Rs Million -

CDM Revnues Rs Million -
Operating Expenses Rs Million -
 DSRA Bank Guarantee Costs Rs Million -
Salvage Value Rs Million -
Depreciation Rs Million -
Interest on Term Loan Rs Million -
WC Interest Rs Million -
PBT Rs Million -

Income Tax:

Profit Before Tax (PBT) Rs Million -

Depreciation for Book Purpose Rs Million -
PBT + Book Depreciation Rs Million -
Depreciation for Tax Purpose Rs Million -

Taxable Income Rs Million -

Business Losses
Opening BL Rs Million -
Addition Rs Million -
Set Off Rs Million -
Closing BL Rs Million -

Taxable Income after BL Rs Million -

Unabsorbed Depreciation
Opening UD Rs Million -
Addition Rs Million -
Set Off Rs Million -
Closing UD Rs Million -

Taxable Income after BL & UD Rs Million -

Corporate Tax Rate % 32.75%
Corporate Tax Rs Million -

MAT Calculations
Book Profits Rs Million -
MAT Rate % 0.00%
MAT Rs Million -

Is 80IA applicable 0
80IA Start Year 1 0
Tax Applicable 0
 MAT Credit
Opening Balance Rs Million -
Additions Rs Million -
Setoff Rs Million -
Lapse Rs Million -
Closing Balance Rs Million -

Tax Payable
MAT payable Rs Million -
Corporate Tax Payable Rs Million -
MAT Credit offset Rs Million -
Effective Tax Payable Rs Million -
Effective Tax rate #DIV/0!

Applicable Tax Scenario Current

Tax Payable Rs Million -
PAT Rs Million -

DSCR:
Cash Available for Debt Service Rs Million -
Debt Service Requirement Rs Million -
DSCR

Drawal from DSRA Rs Million -

Minimum DSCR 0.92

Average DSCR 1.70

IRR Calculation:

Unabsorbed Tax Dep Benefit Rs Million -

EBITDA Rs Million -
Less: Interest Rs Million -
Less: Tax Rs Million -
Less: Loan Repayment Rs Million -
Less: Change in DSRA Rs Million -
Less: Increase in WC Margin Rs Million -
Less: Equity Investment Rs Million -

FCFE Rs Million -
Equity IRR % 17.45%
NPV 15%
EBITDA Rs Million -
Less: WC Interest Rs Million -
Less: Tax Rs Million -
Less: Change in DSRA Rs Million -
Less: CAPEX Rs Million -

Free cash flow Rs Million -

Project IRR % 15.48%
 1-Apr-13 1-Apr-14 1-Apr-15 1-Apr-16 1-Apr-17 1-Apr-18 1-Apr-19 1-Apr-20
31-Mar-14 31-Mar-15 31-Mar-16 31-Mar-17 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21
182 365 366 365 365 365 366 365
2014 2015 2016 2017 2018 2019 2020 2021
1 2 3 4 5 6 7 8

21.95 21.95 21.95 21.95 21.95 21.95 21.95 21.95

48.66 43.54 38.41 33.29 28.17 23.05 17.93 12.81

- - - - - - - -
48.66 43.54 38.41 33.29 28.17 23.05 17.93 12.81

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16

69.50 69.50 69.50 69.50 69.50 69.50 69.50 69.50
1.83 3.67 3.67 3.67 3.67 3.67 3.67 3.67
1.83 5.50 9.17 12.84 16.51 20.18 23.85 27.52
67.67 64.00 60.33 56.66 52.99 49.32 45.65 41.98

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16
5.63 5.63 5.63 5.63 5.63 5.63 5.63 5.63
5.63 11.25 16.88 22.50 28.13 33.75 39.38 45.01
67.53 61.91 56.28 50.65 45.03 39.40 33.78 28.15

0 183 183 183 183 183 183 183

182 182 183 182 182 182 183 182
 0.76 1.53 1.53 1.53 1.53 1.53 1.53 1.53
0.76 1.53 1.53 1.51 1.50 1.49 1.48 1.47

0.01 0.02 0.02 0.02 0.02 0.01 0.01 0.01

0.76 1.52 1.51 1.50 1.49 1.48 1.46 1.45

7.00 7.35 7.72 8.10 8.51 8.93 9.38 9.85

- - - - - - - -
7.00 7.35 7.72 8.10 8.51 8.93 9.38 9.85

5.30 11.15 11.67 12.15 12.66 13.18 13.73 14.30

679 1,361 1,355 1,345 1,334 1,323 1,313 -

100.0% 95.0% 85.0% 75.0% 65.0% 55.0% 50.0% 50.0%

- - - - - - - -

- - - - - - - -

5.30 11.15 11.67 12.15 12.66 13.18 13.73 14.30

0.36 0.74 0.78 0.82 0.86 0.90 0.95 1.00

0.09 0.19 0.20 0.21 0.22 0.23 0.24 0.25

0.05 0.11 0.12 0.12 0.13 0.14 0.14 0.15

0.08 0.16 0.15 0.14 0.13 0.12 0.11 0.10

- - - - - - - -

- - - - - - - -

0.59 1.20 1.24 1.29 1.34 1.39 1.44 1.50

- - - - - - - -

0.03 0.06 0.07 0.07 0.07 0.08 0.08 0.08

0.05 0.11 0.12 0.12 0.13 0.14 0.14 0.15

0.88 1.86 1.94 2.03 2.11 2.20 2.29 2.38

0.97 2.03 2.13 2.22 2.31 2.41 2.51 2.62

- 0.97 2.03 2.13 2.22 2.31 2.41 2.51

0.97 1.07 0.09 0.09 0.09 0.10 0.10 0.11
0.97 2.03 2.13 2.22 2.31 2.41 2.51 2.62

- 0.24 0.51 0.53 0.55 0.58 0.60 0.63

0.24 0.27 0.02 0.02 0.02 0.02 0.03 0.03
0.24 0.51 0.53 0.55 0.58 0.60 0.63 0.65

- 0.73 1.52 1.59 1.66 1.73 1.81 1.88

0.73 0.80 0.07 0.07 0.07 0.07 0.08 0.08
0.73 1.52 1.59 1.66 1.73 1.81 1.88 1.96

0.04 0.18 0.19 0.20 0.21 0.22 0.23 0.24

5.30 11.15 11.67 12.15 12.66 13.18 13.73 14.30

- - - - - - - -
(0.59) (1.20) (1.24) (1.29) (1.34) (1.39) (1.44) (1.50)
(0.02) (0.02) (0.02) (0.02) (0.02) (0.02) (0.01) (0.01)
- - - - - - - -
(1.83) (3.67) (3.67) (3.67) (3.67) (3.67) (3.67) (3.67)
(1.46) (5.53) (4.92) (4.30) (3.69) (3.07) (2.46) (1.84)
(0.04) (0.18) (0.19) (0.20) (0.21) (0.22) (0.23) (0.24)
1.36 0.55 1.63 2.67 3.74 4.82 5.92 7.04

1.36 0.55 1.63 2.67 3.74 4.82 5.92 7.04

1.83 3.67 3.67 3.67 3.67 3.67 3.67 3.67
3.19 4.22 5.30 6.34 7.41 8.49 9.59 10.71
5.63 5.63 5.63 5.63 5.63 5.63 5.63 5.63

(2.44) (1.41) (0.33) 0.72 1.78 2.86 3.96 5.08

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

(2.44) (1.41) (0.33) 0.72 1.78 2.86 3.96 5.08

- 2.44 3.84 4.17 3.46 1.68 - -

2.44 1.41 0.33 - - - - -
- - - 0.72 1.78 1.68 - -
2.44 3.84 4.17 3.46 1.68 - - -

(2.44) (1.41) (0.33) - - 1.19 3.96 5.08

- - - - - 0.39 1.30 1.66

1.36 0.55 1.63 2.67 3.74 4.82 5.92 7.04

- - - - - - - -

0 0 0 0 0 0 0 0
1 1 1 1 1 1 1 1
 - - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - 0.39 1.30 1.66
- - - - - - - -
- - - - - 0.39 1.30 1.66
0% 0% 0% 0% 0% 8% 22% 24%

- - - - - 0.39 1.30 1.66

1.36 0.55 1.63 2.67 3.74 4.43 4.62 5.37

4.64 9.75 10.21 10.64 11.09 11.17 10.75 10.89

4.01 10.65 10.04 9.42 8.81 8.19 7.58 6.97
1.16 0.92 1.02 1.13 1.26 1.36 1.42 1.56

- 0.90 - - - - - -

4.69 9.93 10.40 10.84 11.30 11.78 12.27 12.79

1.50 5.71 5.11 4.50 3.90 3.29 2.68 2.08
- - - - - 0.39 1.30 1.66
2.55 5.12 5.12 5.12 5.12 5.12 5.12 5.12
- - - - - - - -
0.24 0.27 0.02 0.02 0.02 0.02 0.03 0.03
21.95 - - - - - - -

(21.55) (1.17) 0.15 1.20 2.26 2.95 3.14 3.90

4.69 9.93 10.40 10.84 11.30 11.78 12.27 12.79

 0.04 0.18 0.19 0.20 0.21 0.22 0.23 0.24
- - - - - 0.39 1.30 1.66
- - - - - - - -
73.16 - - - - - - -

(68.51) 9.75 10.21 10.64 11.09 11.17 10.75 10.89

 1-Apr-21 1-Apr-22 1-Apr-23 1-Apr-24 1-Apr-25 1-Apr-26 1-Apr-27 1-Apr-28
31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27 31-Mar-28 31-Mar-29
365 365 366 365 365 365 366 365
2022 2023 2024 2025 2026 2027 2028 2029
9 10 11 12 13 14 15 16

21.95 21.95 21.95 21.95 21.95 21.95 21.95 21.95

7.69 2.57 0.01 0.01 0.01 0.01 0.01 0.01

- - - - - - - -
7.69 2.57 0.01 0.01 0.01 0.01 0.01 0.01

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16

69.50 69.50 69.50 69.50 69.50 69.50 69.50 69.50
3.67 3.67 3.67 3.67 3.67 3.67 3.67 3.67
31.19 34.86 38.53 42.19 45.86 49.53 53.20 56.87
38.31 34.64 30.97 27.30 23.63 19.97 16.30 12.63

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16
5.63 5.63 5.63 5.63 5.63 0.02 - -
50.63 56.26 61.88 67.51 73.14 73.16 73.16 73.16
22.53 16.90 11.27 5.65 0.02 - - -

183 183 183 183 183 183 183 183

182 182 183 182 182 182 183 182
 1.53 1.53 1.53 1.53 1.53 1.53 1.53 1.53
1.46 1.44 1.43 1.42 1.41 1.40 1.39 1.38

0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01

1.44 1.43 1.42 1.41 1.39 1.38 1.37 1.36

10.34 10.86 11.40 11.97 12.57 13.20 13.86 14.55

-
10.34 10.86 11.40 11.97 12.57 13.20 13.86 14.55

14.90 15.52 16.16 16.84 17.54 18.27 19.03 19.82

- - - - - - - -

50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%

- - - - - - - -

- - - - - - - -

14.90 15.52 16.16 16.84 17.54 18.27 19.03 19.82

1.05 1.10 1.15 1.21 1.27 1.34 1.40 1.47

0.26 0.27 0.29 0.30 0.32 0.33 0.35 0.37

0.16 0.16 0.17 0.18 0.19 0.20 0.21 0.22

 0.10 0.09 0.08 0.07 0.06 0.05 0.04 0.03

- - - - - - - -

- - - - - - 7.92 -

1.56 1.63 1.69 1.76 1.84 1.92 9.92 2.09

- - - - - - - -

0.09 0.09 0.10 0.10 0.11 0.11 0.12 0.12

0.16 0.16 0.17 0.18 0.19 0.20 0.21 0.22

2.48 2.59 2.69 2.81 2.92 3.04 3.17 3.30

2.73 2.84 2.96 3.09 3.22 3.36 3.50 3.65

2.62 2.73 2.84 2.96 3.09 3.22 3.36 3.50

0.11 0.12 0.12 0.13 0.13 0.14 0.14 0.15
2.73 2.84 2.96 3.09 3.22 3.36 3.50 3.65

0.65 0.68 0.71 0.74 0.77 0.80 0.84 0.87

0.03 0.03 0.03 0.03 0.03 0.03 0.04 0.04
0.68 0.71 0.74 0.77 0.80 0.84 0.87 0.91

1.96 2.05 2.13 2.22 2.32 2.41 2.52 2.62

0.08 0.09 0.09 0.09 0.10 0.10 0.11 0.11
2.05 2.13 2.22 2.32 2.41 2.52 2.62 2.73

0.25 0.26 0.27 0.28 0.29 0.30 0.31 0.33

14.90 15.52 16.16 16.84 17.54 18.27 19.03 19.82

- - - - - - - -
(1.56) (1.63) (1.69) (1.76) (1.84) (1.92) (9.92) (2.09)
(0.01) (0.01) (0.01) (0.00) (0.00) (0.00) (0.00) (0.00)
- - - - - - - -
(3.67) (3.67) (3.67) (3.67) (3.67) (3.67) (3.67) (3.67)
(1.23) (0.62) (0.15) (0.00) (0.00) (0.00) (0.00) (0.00)
(0.25) (0.26) (0.27) (0.28) (0.29) (0.30) (0.31) (0.33)
8.18 9.34 10.37 11.12 11.74 12.37 5.12 13.72

8.18 9.34 10.37 11.12 11.74 12.37 5.12 13.72

3.67 3.67 3.67 3.67 3.67 3.67 3.67 3.67
11.85 13.01 14.04 14.79 15.41 16.04 8.79 17.39
5.63 5.63 5.63 5.63 5.63 0.02 - -

6.22 7.38 8.41 9.16 9.78 16.02 8.79 17.39

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

6.22 7.38 8.41 9.16 9.78 16.02 8.79 17.39

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

6.22 7.38 8.41 9.16 9.78 16.02 8.79 17.39

2.04 2.42 2.76 3.00 3.20 5.25 2.88 5.70

8.18 9.34 10.37 11.12 11.74 12.37 5.12 13.72

- - - - - - - -

0 0 0 0 0 0 0 0
1 1 1 1 1 1 1 1
 - - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
2.04 2.42 2.76 3.00 3.20 5.25 2.88 5.70
- - - - - - - -
2.04 2.42 2.76 3.00 3.20 5.25 2.88 5.70
25% 26% 27% 27% 27% 42% 56% 42%

2.04 2.42 2.76 3.00 3.20 5.25 2.88 5.70

6.14 6.92 7.61 8.12 8.53 7.13 2.24 8.03

11.04 11.21 11.44 11.79 12.20 10.80 5.91 11.70

6.35 5.74 2.71 0.00 0.00 0.00 0.00 0.00
1.74 1.95 4.21 14,002.97 14,491.33 12,816.43 7,014.24 13,887.06

- - - - - - - -

13.32 13.88 14.46 15.07 15.70 16.35 9.10 17.72

1.48 0.87 0.42 0.28 0.29 0.30 0.32 0.33
2.04 2.42 2.76 3.00 3.20 5.25 2.88 5.70
5.12 5.12 2.56 - - - - -
- - - - - - - -
0.03 0.03 0.03 0.03 0.03 0.03 0.04 0.04
- - - - - - - -

4.66 5.44 8.69 11.76 12.17 10.76 5.87 11.66

13.32 13.88 14.46 15.07 15.70 16.35 9.10 17.72

 0.25 0.26 0.27 0.28 0.29 0.30 0.31 0.33
2.04 2.42 2.76 3.00 3.20 5.25 2.88 5.70
- - - - - - - -
- - - - - - - -

11.04 11.21 11.44 11.79 12.20 10.80 5.91 11.70

 1-Apr-29 1-Apr-30 1-Apr-31 1-Apr-32 1-Apr-33 1-Apr-34 1-Apr-35 1-Apr-36
31-Mar-30 31-Mar-31 31-Mar-32 31-Mar-33 31-Mar-34 31-Mar-35 31-Mar-36 31-Mar-37
365 365 366 365 365 365 366 365
2030 2031 2032 2033 2034 2035 2036 2037
17 18 19 20 21 22 23 24

21.95 21.95 21.95 21.95 21.95 21.95 21.95 21.95

0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01

- - - - - - - -
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16

69.50 69.50 69.50 69.50 69.50 69.50 69.50 69.50
3.67 3.67 3.67 1.62 - - - -
60.54 64.21 67.88 69.50 69.50 69.50 69.50 69.50
8.96 5.29 1.62 - - - - -

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16
- - - - - - - -
73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16
- - - - - - - -

183 183 183 183 183 183 183 183

182 182 183 182 182 182 183 182
 1.53 1.53 1.53 1.53 1.53 1.53 1.53 1.53
1.36 1.35 1.34 1.33 1.32 1.31 1.30 1.29

0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01

1.35 1.34 1.33 1.32 1.31 1.30 1.29 1.28

15.28 16.04 16.85 17.69 18.57 19.50 20.48 21.50

15.28 16.04 16.85 17.69 18.57 19.50 20.48 21.50

20.64 21.50 22.39 23.33 24.30 25.31 26.36 27.46

- - - - - - - -

50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%

- - - - - - - -

- - - - - - - -

20.64 21.50 22.39 23.33 24.30 25.31 26.36 27.46

1.55 1.62 1.71 1.79 1.88 1.97 2.07 2.18

0.39 0.41 0.43 0.45 0.47 0.49 0.52 0.54

0.23 0.24 0.26 0.27 0.28 0.30 0.31 0.33

 0.02 0.01 0.00 - - - - -

- - - - - - - -

- - - - - - - -

2.19 2.29 2.39 2.51 2.63 2.76 2.90 3.05

- - - - - - - -

0.13 0.14 0.14 0.15 0.16 0.16 0.17 0.18

0.23 0.24 0.26 0.27 0.28 0.30 0.31 0.33

3.44 3.58 3.73 3.89 4.05 4.22 4.39 4.58

3.80 3.96 4.13 4.31 4.49 4.68 4.88 5.08

3.65 3.80 3.96 4.13 4.31 4.49 4.68 4.88

0.15 0.16 0.17 0.18 0.18 0.19 0.20 0.21
3.80 3.96 4.13 4.31 4.49 4.68 4.88 5.08

0.91 0.95 0.99 1.03 1.08 1.12 1.17 1.22

0.04 0.04 0.04 0.04 0.05 0.05 0.05 0.05
0.95 0.99 1.03 1.08 1.12 1.17 1.22 1.27

2.73 2.85 2.97 3.10 3.23 3.37 3.51 3.66

0.12 0.12 0.13 0.13 0.14 0.14 0.15 0.16
2.85 2.97 3.10 3.23 3.37 3.51 3.66 3.81

0.34 0.36 0.37 0.39 0.40 0.42 0.44 0.46

20.64 21.50 22.39 23.33 24.30 25.31 26.36 27.46

- - - - - - - -
(2.19) (2.29) (2.39) (2.51) (2.63) (2.76) (2.90) (3.05)
(0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00)
- - - - - - - -
(3.67) (3.67) (3.67) (1.62) - - - -
(0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00)
(0.34) (0.36) (0.37) (0.39) (0.40) (0.42) (0.44) (0.46)
14.44 15.19 15.96 18.81 21.26 22.12 23.02 23.95

14.44 15.19 15.96 18.81 21.26 22.12 23.02 23.95

3.67 3.67 3.67 1.62 - - - -
18.11 18.86 19.63 20.43 21.26 22.12 23.02 23.95
- - - - - - - -

18.11 18.86 19.63 20.43 21.26 22.12 23.02 23.95

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

18.11 18.86 19.63 20.43 21.26 22.12 23.02 23.95

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

18.11 18.86 19.63 20.43 21.26 22.12 23.02 23.95

5.93 6.18 6.43 6.69 6.96 7.24 7.54 7.84

14.44 15.19 15.96 18.81 21.26 22.12 23.02 23.95

- - - - - - - -

0 0 0 0 0 0 0 0
1 1 1 1 1 1 1 1
 - - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
5.93 6.18 6.43 6.69 6.96 7.24 7.54 7.84
- - - - - - - -
5.93 6.18 6.43 6.69 6.96 7.24 7.54 7.84
41% 41% 40% 36% 33% 33% 33% 33%

5.93 6.18 6.43 6.69 6.96 7.24 7.54 7.84

8.51 9.01 9.53 12.12 14.30 14.88 15.48 16.11

12.18 12.68 13.20 13.74 14.30 14.88 15.48 16.11

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
14,459.08 15,053.90 15,672.09 16,311.49 16,972.98 17,661.13 18,376.63 19,121.73

- - - - - - - -

18.45 19.21 20.00 20.82 21.66 22.54 23.46 24.41

0.34 0.36 0.37 0.39 0.40 0.42 0.44 0.46
5.93 6.18 6.43 6.69 6.96 7.24 7.54 7.84
- - - - - - - -
- - - - - - - -
0.04 0.04 0.04 0.04 0.05 0.05 0.05 0.05
- - - - - - - -

12.14 12.64 13.16 13.70 14.25 14.83 15.43 16.06

18.45 19.21 20.00 20.82 21.66 22.54 23.46 24.41

 0.34 0.36 0.37 0.39 0.40 0.42 0.44 0.46
5.93 6.18 6.43 6.69 6.96 7.24 7.54 7.84
- - - - - - - -
- - - - - - - -

12.18 12.68 13.20 13.74 14.30 14.88 15.48 16.11

 1-Apr-37 1-Apr-38 1-Apr-39 1-Apr-40 1-Apr-41 1-Apr-42 1-Apr-43 1-Apr-44
31-Mar-38 31-Mar-39 31-Mar-40 31-Mar-41 31-Mar-42 31-Mar-43 31-Mar-44 31-Mar-45
365 183 0 0 0 0 0 0
2038 2039 2040 2041 2042 2043 2044 2045
25 26 0 0 0 0 0 0

21.95 21.95 - - - - - -

0.01 - - - - - - -
- - - - - - - -
0.01 - - - - - - -

73.16 73.16 - - - - - -
69.50 69.50 - - - - - -
- - - - - - - -
69.50 69.50 - - - - - -
- - - - - - - -

73.16 73.16 - - - - -
73.16 73.16 - - - - -
- - - - - - -
73.16 73.16 - - - - -
- - - - - - -

183 183 0 0 0 0 0
182 0 0 0 0 0 0
 1.53 0.77 - - - - -
1.28 0.64 - - - - -

0.01 0.01 - - - - -

1.27 0.63 - - - - -

22.58 22.58 23.70 24.89 26.13 27.44 28.81

22.58 22.58 23.70 24.89 26.13 27.44 28.81

28.60 14.28 - - - - -

- - - - - - -

50.0% 50.0% 0.0% 0.0% 0.0% 0.0% 0.0%

- - - - - - -

- - - - - - -

28.60 14.28 - - - - -

2.28 1.17 - - - - -

0.57 0.29 - - - - -

0.34 0.18 - - - - -
 - - - - - - -

- - - - - - -

- - - - - - - -

3.20 1.64 - - - - -

- 7.26 - - - - -

0.19 0.10 - - - - -

0.34 0.18 - - - - -

4.77 2.38 - - - - -

5.30 2.65 - - - - -

5.08 5.30 - - - - -
0.22 (5.30) - - - - -
5.30 - - - - - -

1.27 1.32 - - - - -
0.05 (1.32) - - - - -
1.32 - - - - - -

3.81 3.97 - - - - -
0.16 (3.97) - - - - -
3.97 - - - - - -

0.48 0.24 - - - - -

28.60 14.28 - - - - -
- - - - - - -
(3.20) (1.64) - - - - -
(0.00) - - - - - -
- 7.26 - - - - -
- - - - - - -
(0.00) - - - - - -
(0.48) (0.24) - - - - -
24.92 19.66 - - - - -

24.92 19.66 - - - - -
- - - - - - -
24.92 19.66 - - - - -
- - - - - - -

24.92 19.66 - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

24.92 19.66 - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

24.92 19.66 - - - - -

8.16 6.44 - - - - -

24.92 19.66 - - - - -

- - - - - - -

0 0 0 0 0 0 0
1 1 0 0 0 0 0
 - - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -
8.16 6.44 - - - - -
- - - - - - -
8.16 6.44 - - - - -
33%

8.16 6.44 - - - - -
16.76 13.22 - - - - -

16.76 5.96 - - - - -
0.00 - - - - - -
19,896.45

- - - - - - -

25.40 19.90 - - - - -
0.48 0.24 - - - - -
8.16 6.44 - - - - -
- - - - - - -
- - - - - - -
0.05 (1.32) - - - - -
- - - - - - -

16.71 14.54 - - - - -

25.40 12.64 - - - - -
 0.48 0.24 - - - - -
8.16 6.44 - - - - -
- - - - - - -
- - - - - - -

16.76 5.96 - - - - -
 1-Apr-45 1-Apr-46 1-Apr-47 1-Apr-48 1-Apr-49 1-Apr-50 1-Apr-51
31-Mar-46 31-Mar-47 31-Mar-48 31-Mar-49 31-Mar-50 31-Mar-51 31-Mar-52
0 0 0 0 0 0 0
2046 2047 2048 2049 2050 2051 2052
0 0 0 0 0 0 0

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
 COD 1-Oct-13
Project End Date 30-Sep-38
Year Start Date 1-Apr-12
Year ending date 31-Mar-13
No of Days 0
Financial Year 2013
Operations 0

CASH FLOW STATEMENT

Cash From Operations

Revenue Rs Million -
Operating Costs Rs Million -
Increase in Working Capital Rs Million -
Interest on Term Loans Rs Million -
Interest on Working Capital Loan Rs Million -
DSRA Bank Guarantee Costs Rs Million -
Tax Rs Million -
Net Cash from Operations Rs Million -

Cash from Investment Activities

Capex Rs Million -
Sale of Assets Rs Million -
Net Cash from Investment Activities Rs Million -

Cash from Financing Activities

Equity Investments Rs Million -
Loans Taken Rs Million -
Loan Repayment Rs Million -
Increase in Working Capital Loan Rs Million -
Increase in DSRA Rs Million -
Net Cash from Financing Activities Rs Million -

Net Cash Balance

Cash Brought Forward -
Addition -
Cash Carried Forward -
Check Error

PROFIT AND LOSS ACCOUNT

 Revenues
Revenue from sale of Power Rs Million -
CDM Revenue Rs Million -
Total Income Rs Million -
Operating Expenses Rs Million -
DSRA Bank Guarantee Costs Rs Million -
Salvage Income Rs Million -
PBDIT Rs Million -
Depreciation Rs Million -
PBIT Rs Million -
Interest Rs Million -
PBT Rs Million -
Tax Rs Million -
PAT Rs Million -

Check -
BALANCE SHEET

Fixed Assets
Gross Fixed Assets Rs Million -
Less: Accumulated depreciation Rs Million -
Net Fixed Assets Rs Million -

Current Assets
Net Working Capital Rs Million -
Cash and Bank Balances Rs Million -
Total Current Assets Rs Million -

Total Assets Rs Million -

Shareholders' Funds
Share Capital Rs Million -
Retained Earnings Rs Million -
Reserves Rs Million -
Total Shareholders' Funds Rs Million -

Domestic Loans Rs Million -

Foreign Loans Rs Million -
WC Loan Rs Million -
Loans Rs Million -

Total Liabilities Rs Million -

Check Error -
 1-Apr-13 1-Apr-14 1-Apr-15 1-Apr-16 1-Apr-17 1-Apr-18 1-Apr-19 1-Apr-20
31-Mar-14 31-Mar-15 31-Mar-16 31-Mar-17 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21
182 365 366 365 365 365 366 365
2014 2015 2016 2017 2018 2019 2020 2021
1 2 3 4 5 6 7 8

5.30 11.15 11.67 12.15 12.66 13.18 13.73 14.30

(0.59) (1.20) (1.24) (1.29) (1.34) (1.39) (1.44) (1.50)
(0.97) (1.07) (0.09) (0.09) (0.09) (0.10) (0.10) (0.11)
(1.46) (5.53) (4.92) (4.30) (3.69) (3.07) (2.46) (1.84)
(0.04) (0.18) (0.19) (0.20) (0.21) (0.22) (0.23) (0.24)
(0.02) (0.02) (0.02) (0.02) (0.02) (0.02) (0.01) (0.01)
- - - - - (0.39) (1.30) (1.66)
2.22 3.15 5.20 6.25 7.31 8.00 8.19 8.94

(73.16) - - - - - - -
- - - - - - - -
(73.16) - - - - - - -

21.95 - - - - - - -
51.21 - - - - - - -
(2.55) (5.12) (5.12) (5.12) (5.12) (5.12) (5.12) (5.12)
0.73 0.80 0.07 0.07 0.07 0.07 0.08 0.08
- - - - - - - -
71.33 (4.32) (5.05) (5.05) (5.05) (5.05) (5.04) (5.04)

- 0.39 (0.77) (0.62) 0.58 2.84 5.79 8.94

0.39 (1.17) 0.15 1.20 2.26 2.95 3.14 3.90
0.39 (0.77) (0.62) 0.58 2.84 5.79 8.94 12.83
 5.30 11.15 11.67 12.15 12.66 13.18 13.73 14.30
- - - - - - - -
5.30 11.15 11.67 12.15 12.66 13.18 13.73 14.30
(0.59) (1.20) (1.24) (1.29) (1.34) (1.39) (1.44) (1.50)
(0.02) (0.02) (0.02) (0.02) (0.02) (0.02) (0.01) (0.01)
- - - - - - - -
4.69 9.93 10.40 10.84 11.30 11.78 12.27 12.79
(1.83) (3.67) (3.67) (3.67) (3.67) (3.67) (3.67) (3.67)
2.86 6.27 6.73 7.17 7.63 8.11 8.60 9.12
(1.50) (5.71) (5.11) (4.50) (3.90) (3.29) (2.68) (2.08)
1.36 0.55 1.63 2.67 3.74 4.82 5.92 7.04
- - - - - 0.39 1.30 1.66
1.36 0.55 1.63 2.67 3.74 4.43 4.62 5.37

- - - - - - - -

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16

1.83 5.50 9.17 12.84 16.51 20.18 23.85 27.52
71.33 67.66 63.99 60.32 56.65 52.98 49.31 45.64

0.97 2.03 2.13 2.22 2.31 2.41 2.51 2.62

0.39 (0.77) (0.62) 0.58 2.84 5.79 8.94 12.83
1.36 1.26 1.50 2.79 5.15 8.20 11.45 15.45

72.69 68.92 65.49 63.11 61.80 61.18 60.76 61.09

21.95 21.95 21.95 21.95 21.95 21.95 21.95 21.95

1.36 1.91 3.54 6.21 9.94 14.37 19.00 24.37
- - - - - - - -
23.31 23.86 25.48 28.15 31.89 36.32 40.94 46.32

48.66 43.54 38.41 33.29 28.17 23.05 17.93 12.81

- - - - - - - -
0.73 1.52 1.59 1.66 1.73 1.81 1.88 1.96
49.38 45.06 40.01 34.96 29.91 24.86 19.81 14.77

72.69 68.92 65.49 63.11 61.80 61.18 60.76 61.09

- - - - - - - -
 1-Apr-21 1-Apr-22 1-Apr-23 1-Apr-24 1-Apr-25 1-Apr-26 1-Apr-27 1-Apr-28
31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27 31-Mar-28 31-Mar-29
365 365 366 365 365 365 366 365
2022 2023 2024 2025 2026 2027 2028 2029
9 10 11 12 13 14 15 16

14.90 15.52 16.16 16.84 17.54 18.27 19.03 19.82

(1.56) (1.63) (1.69) (1.76) (1.84) (1.92) (9.92) (2.09)
(0.11) (0.12) (0.12) (0.13) (0.13) (0.14) (0.14) (0.15)
(1.23) (0.62) (0.15) (0.00) (0.00) (0.00) (0.00) (0.00)
(0.25) (0.26) (0.27) (0.28) (0.29) (0.30) (0.31) (0.33)
(0.01) (0.01) (0.01) (0.00) (0.00) (0.00) (0.00) (0.00)
(2.04) (2.42) (2.76) (3.00) (3.20) (5.25) (2.88) (5.70)
9.70 10.48 11.16 11.66 12.07 10.66 5.77 11.55

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
(5.12) (5.12) (2.56) - - - - -
0.08 0.09 0.09 0.09 0.10 0.10 0.11 0.11
- - - - - - - -
(5.04) (5.03) (2.47) 0.09 0.10 0.10 0.11 0.11

12.83 17.50 22.94 31.63 43.39 55.56 66.32 72.19

4.66 5.44 8.69 11.76 12.17 10.76 5.87 11.66
17.50 22.94 31.63 43.39 55.56 66.32 72.19 83.85
14.90 15.52 16.16 16.84 17.54 18.27 19.03 19.82
- - - - - - - -
14.90 15.52 16.16 16.84 17.54 18.27 19.03 19.82
(1.56) (1.63) (1.69) (1.76) (1.84) (1.92) (9.92) (2.09)
(0.01) (0.01) (0.01) (0.00) (0.00) (0.00) (0.00) (0.00)
- - - - - - - -
13.32 13.88 14.46 15.07 15.70 16.35 9.10 17.72
(3.67) (3.67) (3.67) (3.67) (3.67) (3.67) (3.67) (3.67)
9.65 10.21 10.79 11.40 12.03 12.68 5.43 14.05
(1.48) (0.87) (0.42) (0.28) (0.29) (0.30) (0.32) (0.33)
8.18 9.34 10.37 11.12 11.74 12.37 5.12 13.72
2.04 2.42 2.76 3.00 3.20 5.25 2.88 5.70
6.14 6.92 7.61 8.12 8.53 7.13 2.24 8.03

- - - - - - - -

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16

31.19 34.86 38.53 42.19 45.86 49.53 53.20 56.87
41.97 38.30 34.63 30.96 27.29 23.62 19.95 16.28

2.73 2.84 2.96 3.09 3.22 3.36 3.50 3.65

17.50 22.94 31.63 43.39 55.56 66.32 72.19 83.85
20.22 25.78 34.59 46.47 58.78 69.67 75.69 87.50

62.19 64.08 69.23 77.44 86.07 93.30 95.64 103.78

21.95 21.95 21.95 21.95 21.95 21.95 21.95 21.95

30.51 37.43 45.05 53.17 61.70 68.83 71.06 79.09
- - - - - - - -
52.46 59.38 67.00 75.11 83.65 90.77 93.01 101.04

7.69 2.57 0.01 0.01 0.01 0.01 0.01 0.01

- - - - - - - -
2.05 2.13 2.22 2.32 2.41 2.52 2.62 2.73
9.73 4.70 2.23 2.32 2.42 2.52 2.63 2.74

62.19 64.08 69.23 77.44 86.07 93.30 95.64 103.78

- - - - (0) (0) (0) (0)

 1-Apr-29 1-Apr-30 1-Apr-31 1-Apr-32 1-Apr-33 1-Apr-34 1-Apr-35 1-Apr-36
31-Mar-30 31-Mar-31 31-Mar-32 31-Mar-33 31-Mar-34 31-Mar-35 31-Mar-36 31-Mar-37
365 365 366 365 365 365 366 365
2030 2031 2032 2033 2034 2035 2036 2037
17 18 19 20 21 22 23 24

20.64 21.50 22.39 23.33 24.30 25.31 26.36 27.46

(2.19) (2.29) (2.39) (2.51) (2.63) (2.76) (2.90) (3.05)
(0.15) (0.16) (0.17) (0.18) (0.18) (0.19) (0.20) (0.21)
(0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00)
(0.34) (0.36) (0.37) (0.39) (0.40) (0.42) (0.44) (0.46)
(0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00)
(5.93) (6.18) (6.43) (6.69) (6.96) (7.24) (7.54) (7.84)
12.02 12.52 13.03 13.56 14.11 14.69 15.28 15.90

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
0.12 0.12 0.13 0.13 0.14 0.14 0.15 0.16
- - - - - - - -
0.12 0.12 0.13 0.13 0.14 0.14 0.15 0.16

83.85 95.99 108.63 121.79 135.49 149.74 164.57 180.00

12.14 12.64 13.16 13.70 14.25 14.83 15.43 16.06
95.99 108.63 121.79 135.49 149.74 164.57 180.00 196.05
 20.64 21.50 22.39 23.33 24.30 25.31 26.36 27.46
- - - - - - - -
20.64 21.50 22.39 23.33 24.30 25.31 26.36 27.46
(2.19) (2.29) (2.39) (2.51) (2.63) (2.76) (2.90) (3.05)
(0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00)
- - - - - - - -
18.45 19.21 20.00 20.82 21.66 22.54 23.46 24.41
(3.67) (3.67) (3.67) (1.62) - - - -
14.78 15.54 16.33 19.20 21.66 22.54 23.46 24.41
(0.34) (0.36) (0.37) (0.39) (0.40) (0.42) (0.44) (0.46)
14.44 15.19 15.96 18.81 21.26 22.12 23.02 23.95
5.93 6.18 6.43 6.69 6.96 7.24 7.54 7.84
8.51 9.01 9.53 12.12 14.30 14.88 15.48 16.11

- - - - - - - -

73.16 73.16 73.16 73.16 73.16 73.16 73.16 73.16

60.54 64.21 67.88 69.50 69.50 69.50 69.50 69.50
12.61 8.94 5.28 3.66 3.66 3.66 3.66 3.66

3.80 3.96 4.13 4.31 4.49 4.68 4.88 5.08

95.99 108.63 121.79 135.49 149.74 164.57 180.00 196.05
99.79 112.59 125.92 139.79 154.23 169.25 184.87 201.14

112.41 121.54 131.20 143.45 157.88 172.90 188.53 204.79

21.95 21.95 21.95 21.95 21.95 21.95 21.95 21.95

87.60 96.61 106.14 118.27 132.56 147.44 162.92 179.03
- - - - - - - -
109.55 118.56 128.09 140.21 154.51 169.39 184.87 200.98

0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01

- - - - - - - -
2.85 2.97 3.10 3.23 3.37 3.51 3.66 3.81
2.86 2.98 3.10 3.24 3.37 3.52 3.66 3.82

112.41 121.54 131.20 143.45 157.88 172.90 188.53 204.79

(0) (0) (0) (0) (0) (0) (0) (0)

 1-Apr-37 1-Apr-38 1-Apr-39 1-Apr-40 1-Apr-41 1-Apr-42 1-Apr-43 1-Apr-44
31-Mar-38 31-Mar-39 31-Mar-40 31-Mar-41 31-Mar-42 31-Mar-43 31-Mar-44 31-Mar-45
365 183 0 0 0 0 0 0
2038 2039 2040 2041 2042 2043 2044 2045
25 26 0 0 0 0 0 0

28.60 14.28 - - - - - -
(3.20) (1.64) - - - - - -
(0.22) 5.30 - - - - - -
(0.00) - - - - - - -
(0.48) (0.24) - - - - - -
(0.00) - - - - - - -
(8.16) (6.44) - - - - - -
16.54 11.26 - - - - - -

- - - - - - - -
- 7.26 - - - - - -
- 7.26 - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
0.16 (3.97) - - - - - -
- - - - - - - -
0.16 (3.97) - - - - - -

196.05 212.76 - - - - - -
16.71 14.54 - - - - - -
212.76 227.30 - - - - - -
 28.60 14.28 - - - - - -
- - - - - - - -
28.60 14.28 - - - - - -
(3.20) (1.64) - - - - - -
(0.00) - - - - - - -
- 7.26 - - - - - -
25.40 19.90 - - - - - -
- - - - - - - -
25.40 19.90 - - - - - -
(0.48) (0.24) - - - - - -
24.92 19.66 - - - - - -
8.16 6.44 - - - - - -
16.76 13.22 - - - - - -

- - - - - - - -

73.16 73.16 - - - - - -
69.50 69.50 - - - - - -
3.66 3.66 - - - - - -

5.30 - - - - - - -
212.76 227.30 - - - - - -
218.06 227.30 - - - - - -

221.72 230.96 - - - - - -

21.95 21.95 - - - - - -
195.79 209.01 - - - - - -
- - - - - - - -
217.74 230.95 - - - - - -

0.01 - - - - - - -
- - - - - - - -
3.97 - - - - - - -
3.98 - - - - - - -

221.72 230.95 - - - - - -

(0) 0 - - - - - -
 1-Apr-45 1-Apr-46 1-Apr-47 1-Apr-48 1-Apr-49 1-Apr-50 1-Apr-51
31-Mar-46 31-Mar-47 31-Mar-48 31-Mar-49 31-Mar-50 31-Mar-51 31-Mar-52
0 0 0 0 0 0 0
2046 2047 2048 2049 2050 2051 2052
0 0 0 0 0 0 0

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -

- - - - - - -
- - - - - - -
- - - -
- - - - - - -

- - - - - - -
- - - - - - -
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