ANNEXURE - III

ANALYSIS OF BALANCE SHEETS

ANUP ORAON

PARTICULARS Estimated Projected Projected Projected Projected

31.03.2023 30.11.2024 31.03.2025 31.03.2026 31.03.2027
LIABILITIES
1 Share Capital 7.93 11.86 16.51 21.94 28.24
Share application money
2 Reserves and Surplus
(Excl. Revaluation Reserve)
Shareholders' Fund (A) 7.93 11.86 16.51 21.94 28.24
3 Preference share capital
4 Debentures
5 Term Deposits from public
6 Deferred tax liabilities
7 Term loan from banks/FI 7.27 5.67 3.94 2.05 0.00
8 Loan from Directors/relatives
9 Other Term Liabilities *
Total term liabilities (B) 7.27 5.67 3.94 2.05 0.00
Current Liabilites
10 Short term borrowings from bank (incl.WCDL) 15.00 15.00 15.00 15.00 15.00
11 Borrowing from bank by way of billspurchsed/discounted
12 Working Capital Term Loan
13 Sundry Creditors (Trade) 0.40 0.44 0.48 0.53 0.59
14 Sundry Creditors for expenses 0.25 0.38 0.52 0.66 0.81
15 Advances/Progess payments from customers
16 Unsecured borrowings from others
17 Deposits maturing within 1 year
18 Interest and other charges accrued and due for payment
19 Provision for taxation (Net)
20 Customers Deposits
21 Other statutory Liabilites
22 Other current liabilities/provisions
Total Current Liabilities (C) 15.65 15.82 16.00 16.19 16.40
Total Liabilities (Shareholders Fund:A + Term Liability:B
30.86 33.36 36.44 40.18 44.64
+ Current Liability:C )
S.NO PARTICULARS Estimated Projected Projected Projected Projected
31.03.2023 30.11.2024 31.03.2025 31.03.2026 31.03.2027
Current Assets
1 Cash and bank Balances 5.86 7.85 10.18 12.84 16.11
2 Investments
a) Govt/Other trusty securities
b) Fixed Deposits with banks 1.50 1.80 2.00 2.20 2.20
incl. Margin on BGs /LCs
3 Quoted Investments
4 Receivables
a) Outstanding below 6 months 0.56 0.62 0.68 0.75 0.82
b) Outstanding above 6 months
5 Inventory
a) Raw material - Indigenous
b) Raw material - Imported
c) Stores and spares
d) Stock/Work in Process
e) Finished Goods 14.35 15.79 17.36 19.10 21.01
6 Advances recoverable in cash or kind
7 Advances to suppliers
8 Advance to Income tax (Net)
9 Other Current Assets
Total Current Assets (D) 22.27 26.05 30.22 34.89 40.14
Fixed Assets
10 Gross Block (Less Revaluation) 8.59 7.31 6.22 5.29 4.50
11 Less: Depreciation
12 Add: Capital Work in Progress
Net Fixed Assets (E) 8.59 7.31 6.22 5.29 4.50
Non Current Assets
13 Investments in subsidiaries/affiliates
14 Other Investment
15 Margin on DPGs
16 Adv to suppliers of capital goods
17 Deferred Receivables
18 Others/Miscellaneous Assets
Total Non Current Assets (F) 0.00 0.00 0.00 0.00 0.00
Intangible Assets
19 Miscellaneous Expenditure
20 defferd revenue expenditure
21 Accumulated Losses
Total Intangible Assets (G) 0.00 0.00 0.00 0.00 0.00
Total Assets ( Current Asset:D + Fixed Asset:E +
30.86 33.36 36.44 40.18 44.64
Noncurrent Asset:F +Intangible Asset:G )
0.00 0.00 0.00 0.00 0.00
 Analytical and Comparitive ratios Estimated Projected Projected Projected Projected
31.03.2023 30.11.2024 31.03.2025 31.03.2026 31.03.2027
Tangible Net Worth (Shareholders Fund:A - Intangible
Assets:G) 7.93 11.86 16.51 21.94 28.24
1
2 Sales (Net) 95.75 105.33 115.86 127.44 140.19
of which a) Domestic 95.75 105.33 115.86 127.44 140.19
b) Exports 0.00 0.00 0.00 0.00 0.00
3 Other Income 0.00 0.00 0.00 0.00 0.00
4 Net Profit/Loss prior to taxation but after depreciation 5.04 6.31 7.66 9.09 10.62
5 Net Profit after taxation 4.78 5.93 7.14 8.43 9.81
6 Depreciation provided for 1.51 1.28 1.09 0.93 0.79
7 Cash Generation 6.29 7.22 8.24 9.36 10.60
8 Working Capital Gap 21.61 25.23 29.22 33.70 38.75
9 Required Net Working Capital 5.57 6.51 7.56 8.72 10.04
10 Actual Net Working Capital 6.61 10.23 14.22 18.70 23.75
11 Excess Borrowing 0.00 0.00 0.00 0.00 0.00
12 Net Profit(Loss)/Net Sales % 4.99 5.63 6.17 6.62 7.00
13 Net Sales/Net Fixed Assets 11.14 14.41 18.64 24.10 31.16
14 TOL/TNW 2.89 1.81 1.21 0.83 0.58
15 Debt Equity Ratio 0.92 0.48 0.24 0.09 0.00
Current Ratio(Total Current Asset / Total Current Liability)
1.42 1.65 1.89 2.15 2.45
16

1 Stock of raw material in terms of No of 0.00 0.00 0.00 0.00 0.00

month Consumption
2 Stock of consumable stores in terms of #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
no of months consumption
3 Work in Process in terms of No. of 0.00 0.00 0.00 0.00 0.00
months of Cost of Production
4 Stock of finished goods in terms of no. 2.11 2.11 2.12 2.13 2.13
of months of cost of sales
5 Sundry Debtors in terms of no. of 0.07 0.07 0.07 0.07 0.07
Months Sales (Gross)
Gross Sales 95.75 105.33 115.86 127.44 140.19
6 Sundry Creditors in terms of no of months of purchases 0.05 0.06 0.06 0.06 0.06
 FUND FLOW STATEMENT
M/s: ANUP ORAON
Estimated Projected Projected Projected Projected
Long term Sources 31.03.2023 30.11.2024 31.03.2025 31.03.2026 31.03.2027
1 Retained Profit 0.00 0.00 0.00 0.00
Add : Actual depreciation charged (Depreciation written back
0.00 0.00 0.00 0.00
adjusted)
2 Increase in Capital/Share appn Money 3.93 4.64 5.43 6.31
Increase in term liability 0.00 0.00 0.00 0.00
3 Share Premium
4 Decrease in Non Current Assets 0.00 0.00 0.00 0.00
3.93 4.64 5.43 6.31
Short Term Sources
1 Increase in Bank Finance 0.00 0.00 0.00 0.00
2 Increase in creditors 0.04 0.04 0.05 0.05
3 Increase in other current liabilities 0.13 0.13 0.14 0.15
4 Decrease in inventory 0.00 0.00 0.00 0.00
5 Decrease in receivable 0.00 0.00 0.00 0.00
6 Decrease in other current Asset 0.00 0.00 0.00 0.00
Total 0.17 0.18 0.19 0.21
Total Sources 4.10 4.82 5.62 6.51
Long Term Uses
1 Cash Loss
2 Decrease in Capital/Share Appn.Money 0.00 0.00 0.00 0.00
3 Increase in Fixed Assets (1.28) (1.09) (0.93) (0.79)
4 Increase in Non Current Asset 0.00 0.00 0.00 0.00
5 Decrease in term liabilities 1.60 1.74 1.89 2.05
0.32 0.65 0.96 1.26
Short Term Uses
1 Decrease in Bank Finance 0.00 0.00 0.00 0.00
2 Decrease in creditors 0.00 0.00 0.00 0.00
3 Decrease in other current liabilities 0.00 0.00 0.00 0.00
4 Increase in inventory 1.44 1.58 1.74 1.91
5 Increase in receivable 0.06 0.06 0.07 0.07
6 Increase in other current asset 2.29 2.54 2.86 3.27
Total 3.78 4.18 4.66 5.26
Total Uses 4.10 4.82 5.62 6.51
Long Term Surplus(+)/Deficit (-) 3.61 4.00 4.47 5.05
Short Term Surplus (+)/Deficit (-) (3.61) (4.00) (4.47) (5.05)
Check list
Balance sheet Tallied TallY TallY TallY TallY 0.00
 ANNEXURE - IV
OPERATING STATEMENT

0 ANUP ORAON

Particulars Estimated Projected Projected Projected Projected

31.03.2023 30.11.2024 31.03.2025 31.03.2026 31.03.2027
Operating Income
Domestic Sales 95.75 105.33 115.86 127.44 140.19
Export Sales
Less : Excise
Net Sales (A) 95.75 105.33 115.86 127.44 140.19

Operating Expenses
a) Raw Material 88.50 83.00 91.30 100.43 110.47
Imported
Indigenous
b) Stores and Spares
Imported
Indigenous
c) Power and fuel 1.92 2.11 2.32 2.56 2.81
d) Direct Labour 4.20 4.62 5.08 5.59 6.15
e) Repairs & Maintenance
f) Othe Mfg. Expenses
g) Depreciation 1.51 1.28 1.09 0.93 0.79
TOTAL 96.13 91.02 99.80 109.50 120.22
Add: Op.Stock of WIP 0.00 0.00 0.00 0.00
Sub Total 96.13 91.02 99.80 109.50 120.22
Less: Cl.Stock of WIP 0.00 0.00 0.00 0.00 0.00
Cost of Production 96.13 91.02 99.80 109.50 120.22
Add: Op.Stock of FG 0.00 14.35 15.79 17.36 19.10
Sub Total 96.13 105.37 115.58 126.87 139.32
Less: Cl.Stock of FG 14.35 15.79 17.36 19.10 21.01
Cost of Sales 81.78 89.58 98.22 107.77 118.31
h) Selling and General Exp. 6.24 6.86 7.54 8.30 9.13
i) Interest 2.70 2.57 2.44 2.29 2.13
Total Operating Expenses (B) 90.71 99.01 108.20 118.35 129.57
Operating Income ( A - B ) 5.04 6.31 7.66 9.09 10.62
Add: Non Opearting Income
Less:Non operating Exp.
Profit before tax 5.04 6.31 7.66 9.09 10.62
Provision for tax 0.25 0.38 0.52 0.66 0.81
Profit after tax 4.78 5.93 7.14 8.43 9.81
Dividend
Retained Earning 4.78 5.93 7.14 8.43 9.81

Profit Trf to Capital 4.78 5.93 7.14 8.43 9.81

Capital Opening 0.00 0.00 0.00 0.00 0.00
Capital Infused -4.78 -5.93 -7.14 -8.43 -9.81
Cpaital in B/S 0 0 0 0 0
 0.00 0.00
Performance/ Estimated Projected Projected Projected Projected
Financial indicators 31.03.2023 30.11.2024 31.03.2025 31.03.2026 31.03.2027
Net Sales 95.75 105.33 115.86 127.44 140.19
Other Income 0.00 0.00 0.00 0.00 0.00
Profit before tax 5.04 6.31 7.66 9.09 10.62
Profit after tax 4.78 5.93 7.14 8.43 9.81
Depreciation 1.51 1.28 1.09 0.93 0.79
Cash generation 6.29 7.22 8.24 9.36 10.60
Paid up capital 7.93 11.86 16.51 21.94 28.24
Tangible Net Worth 7.93 11.86 16.51 21.94 28.24
Fixed Assets 8.59 7.31 6.22 5.29 4.50
Term Liabilities 7.27 5.67 3.94 2.05 0.00
Investments 0.00 0.00 0.00 0.00 0.00
Current Assets 22.27 26.05 30.22 34.89 40.14
Current Liabilities 15.65 15.82 16.00 16.19 16.40
Net Working Capital 6.61 10.23 14.22 18.70 23.75
Current Ratio 1.42 1.65 1.89 2.15 2.45
TOL/TNW 2.89 1.81 1.21 0.83 0.58
Debt equity ratio 0.92 0.48 0.24 0.09 0.00
Interest Coverage ratio 3.43 3.95 4.59 5.38 6.37
Net profit/Net sales (%) 4.99 5.63 6.17 6.62 7.00
Dividend Paid (%) 11.47 8.41 6.63 5.48 0.00
Dividend/Net profit (%) 0.00 0.00 0.00 0.00 0.00
EPS 0.17 0.20 0.23 0.26 0.29
TOL/TNW (With Quasi Capital) 2.89 1.81 1.21 0.83 0.58
Number of Shares 0.79 1.19 1.65 2.19 2.82
SSI Note
PERFORMANCE
Parameter Estimated Projected Projected Projected Projected
31.03.2023 30.11.2024 31.03.2025 31.03.2026 31.03.2027
Actual Production
Operating capacity-Qty
Target Sales- Qty
Actual Gross Sales - Qty
Actual Gross Sales - Value
Actual Net Sales 95.75 105.33 115.86 127.44 140.19
(of which Export Sales) 0.00 0.00 0.00 0.00 0.00
Raw Materials purchased 83.00 91.30 100.43 110.47
Raw Materials consumed 88.50 83.00 91.30 100.43 110.47
Cost of Production 96.13 91.02 99.80 109.50 120.22
Cost of Sales 81.78 89.58 98.22 107.77 118.31
Depreciation 1.51 1.28 1.09 0.93 0.79
Interest (Total) 2.70 2.57 2.44 2.29 2.13
PBDIT 9.24 10.17 11.19 12.30 13.54
PBDT 6.55 7.60 8.75 10.02 11.41
PBT 5.04 6.31 7.66 9.09 10.62
Tax Paid / Payable 0.25 0.38 0.52 0.66 0.81
P A T (Profit after Tax) 4.78 5.93 7.14 8.43 9.81

RATIO ANALYSIS
Current Ratio 1.42 1.65 1.89 2.15 2.45
Long Term Debt Equity Ratio 0.92 0.48 0.24 0.09 0.00
Total Debt-Equity Ratio 2.89 1.81 1.21 0.83 0.58
Net Profit to Sales 4.99 5.63 6.17 6.62 7.00
P B D I T to Sales 9.65 9.65 9.66 9.66 9.66
Debtors to Sales 0.07 0.07 0.07 0.07 0.07
(Months)
Creditors to Purchases 0.05 0.06 0.06 0.06 0.06
(Months)
Stock Turnover Ratio
 Turnover Method Projected Projected Projected

31.03.2023 30.11.2024 31.03.2025

A. Turnover 95.75 105.33 115.86

B. 25% of (A) 23.94 26.33 28.96

C. Margin Required at 5% of (A) 4.79 5.27 5.79

D. Margin (NWC) 6.61 10.23 14.22

E. (B - C) 19.15 21.07 23.17

F. (B-D) 17.32 16.10 14.74

G. MPBF ( E or F whichever is lower) 17.32 16.10 14.74

H. Excess borrowing -2.32 -1.10 0.26
0.00 ANUP ORAON
Second Method of Lending Norms as per last Projected Projected Projected Projected
sanction
30.11.2024 31.03.2025 31.03.2026 31.03.2027
(A)Position of current assets
Raw materials
- Imports 0.00 0.00 0.00 0.00
- Domestic 0.00 0.00 0.00 0.00
(Months consumption) 0.00 0.00 0.00 0.00
Consumable stores 0.00 0.00 0.00 0.00
(months consumption) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Stock in process 0.00 0.00 0.00 0.00
(Months cost of prod) 0.00 0.00 0.00 0.00
Finished goods 14.35 15.79 17.36 19.10
(Months cost of Sales) (2.11) (2.11) (2.12) (2.13)
Receivables –
Export
(months sales)
Domestic 0.56 0.62 0.68 0.75
(months sales) (0.07) (0.07) (0.07) (0.07)
Other Current Assets 7.36 9.65 12.18 15.04
Total (A) 22.27 26.05 30.22 34.89
(B) Position of Current Liabilities other than Bank Borrowings
Creditors for purchase of RM, stores/spares 0.44 0.48 0.53 0.59
(months purchases) (0.06) (0.06) (0.06) (0.06)
Adv. from Customers 0.00 0.00 0.00 0.00
Statutory liabilities 0.00 0.00 0.00 0.00
Other current liabilities 0.38 0.52 0.66 0.81
Total (B) 0.82 1.00 1.19 1.40
(C) Working Capital Gap ( A-B) 21.45 25.05 29.03 33.49
(D) Minimum stipulated. NWC (25% of CA excl. Export receivables) 5.57 6.51 7.56 8.72
(E) Actual/Projected NWC 6.61 14.22 18.70 23.75
(F) Item C Minus Item D 15.88 18.54 21.48 24.77
(G) Item C Minus Item E 14.83 10.82 10.34 9.74
(H) Eligible Credit (Item F or G whichever is lower) 14.83 10.82 10.34 9.74
(I) Excess Borrowings representing shortfall in NWC (D-E) 0.00 0.00 0.00 0.00
 Projected Projected Projected Projected
30.11.2024 31.03.2025 31.03.2026 31.03.2027

Actual NWC at beginning of the year 6.61 10.23 14.22 18.70

ADD: Retained Profit for the year 0.00 0.00 0.00 0.00
(Net Profit after tax and dividend)
Depreciation 0.00 0.00 0.00 0.00
Additional Long Term Funds:
Increase in Capital/Share Appn Money 3.93 4.64 5.43 6.31
Increase in Deposits
Increase in Term Loans 0.00 0.00 0.00 0.00
Others 0.00 0.00 0.00 0.00
SUB TOTAL 10.54 14.87 19.65 25.00
LESS: Long Term Uses:
Reduction in Deposits
Reduction in Term Liabilities 1.60 1.74 1.89 2.05
Increase in Fixed Assets -1.28 -1.09 -0.93 -0.79
Others 0.00 0.00 0.00 0.00
SUB TOTAL 0.32 0.65 0.96 1.26
NWC as at the end of the Year 10.23 14.22 18.70 23.75