M/s Shivam Paints Pvt. Ltd.

37.5
Parameter of Project
Stock
Project Cost Existing Addition Total Rate of Dep Financing Pattern Loan Working Capital
Land & Land Development - 20,000,000 20,000,000 0.00% Equity - 0.69
Building & Other Structures - 1,274,150 1,274,150 5.00% Reserve & Surplus
Plant, Machinery & Electrical Inst. - 958,150 958,150 15.00% Loan 1.00 0.31
Furniture, Fixture & Equipment 226,440 226,440 25.00% Total 1.00 1.00 2200000
Office Equipment 6,350 6,350 25.00%
Total Fixed Assets - 22,465,090 22,465,090 Working Capital Coverage (Days)
Pre-operating Expenses - 0 - Inventory-RM 12
Interest During Construction - - Inventory-FG 18
Total - 22,465,090 22,465,090 Accounts Receivable 30 38.8958483676245
Working Capital - 14,300,153 14,300,153 Accounts Payable 25
Total Project Cost - 36,765,243 36,765,243 Operational Cash 30
Advances & Deposits 7
Internal accrual Number of Days 300 0
Sales Revenue and Cost at 100% Capacity
Production Capacity ( Fish) 500,000 Pcs 1 kg
- -

Annual working Days 365 Administrative Exp Amount

Working Hours per day Printing and Stationery 12,825
Total annual production 500,000 kgs Travelling Expenses 32,560
Kgs per Fish 1 Adv. & Promotion 22,550
Total Annual production in Kgs 500,000 kgs Water & Electricity 28,500
Legal & Auditing Fee 25,000
Cost per Qunt (100 Kgs) Communication Expenses 16,750
Raw materials Reqd. Qty in Litre Rate / Kg Total cost per KG Cost Per kg Rent 45,000 3240000
Grains, Grass & Labour for Fish 1 140.00 140.00 140.00 Misc. Expenses 32,420 47
- - - - Total 215,605 68936.170212766
Sub-Total 140.00 140.00 Increment Per annum 5%
Utilities
Electricity 0.14 0.14
Labour cost - - 5.00 5.00
Rice Husk - - Year Capacity
Sub-Total 5.14 5.14 Utilization 0.4
Total direct cost per kg 145.14 145.14 1st Year 75% 3240000 3.5
- 2nd Year 75% 47.00
Revenue at 100 % capacity : 3rd Year 75% 344,680.85 1,077.13
4th Year 80% 5 19,991,489.36
Selling Price 5th Year 80% 1,723,404.26 8.75
Finished goods Proportion Rate / kg Production Qntity Total 6th Year 80%
Fish 100% 195.00 500,000 97,500,000 7th Year 85% 10000000
- - - - 8th Year 85% 5.80
- - 9th Year 90%
- - 10th Year 90%

Sub-Total 100% 500,000 97,500,000 16.6666666666667

Interest Rate 15.50% per annum

Annual Increase in Selling Price 2.50% Selling and Distribution Exp 1.50%
Annual Increase in Cost of Materials 2.50%
Annual Increase in Overheads 5.00%
Insurance (% of Fixed Assets Except Land) 0.50%
Repair and Maintenance (% of Fixed Assets Except Land) 1.50% rice husk per quintal 4 kgs
6 rs pr kg.

Indirect Staffs Number Salary P. M. Total

Managing Director 1 18,000 18,000
Production manager 1 10,500 10,500
Account Manager 1 9,000 9,000
Marketing Staffs 5 7,500 37,500
Store Incharge 2 5,000 10,000
Engineers & Technicians 0 5,000 -
Peons 0 4,500 -
Total 85,000 1,020,000
Increment 5% per annum 1500 kg pr HRS
27000
Name of the company- M/s B&B Interlock Brick And Block Udhyog

Location- Suddhodhan-4, Rupandehi, Nepal

Product- Fish

Type of industry- Fishing Industry

Project Highlights
1 Total project Cost - Nrs'000 33,209
Fixed Assets Investment 4,523
Working Capital Requirement 28,685

2 Project Financing : in Nrs'000 33,209

Equity Financing 21,709
Bank Loan Financing 11,500

3 Bank loan Financing -Nrs'000 11,500

Long term Loan 2,500
Short term Loan 9,000

4 Rated annual Capacity in MT at 100 % capacity utilization

Fish in Kg. 500,000

5 Production Capacity at maxinum cacapity utilization - 90 %

Kg.
Fish 450,000

6 Sales Revenue in Nrs.'000

1st year @ 75% 18,562

10th Year @ 90% 77,297

7 Net profit - in Nrs.'000

1st year 1,512
10th Year 11,067
8 Rate of Interest :
Long term 15.5%
Short term 0%
9 Other financial Indicators :
a Repayment period 15 yrs
b Project IRR 12.09%
c Loan Payback period in yrs. 7.01
d BEP % 47.82%
e BEP sales in Nrs'000 11,835
f Debt Equity ratio 59.86%
g Return on Equity 25.19%
 Annex-I
M/s Aarya Traders
Summary of Project Cost

Fixed Assets

S. No. Description Existing Addition Total

1 Land & Land Development - - -

2 Building & Other Structures - 696,250 696,250
3 Plant, Machinery & Electrical Inst. 2,379,319 236,400 2,615,719
4 Vehicles 268,220 268,220
5 Furniture, Fixture & Equipment 709,102 156,860 865,962
6 Office Equipment 57,581 19,500 77,081

Total 3,146,002 1,377,230 4,523,232

Pre-operating expenses - -
- -
Net Working Capital 14,385,173 14,300,153 28,685,326

Total Project Cost 17,531,175 15,677,383 33,208,558

Financing Pattern of the Project Existing Addition Total

Fixed Assets Financing
Equity Financing/Internal Accruals 1,646,002.06 377,230.00 2,023,232.06
Loan Financing 1,500,000.00 1,000,000.00 2,500,000.00
-
Working capital Financing
Equity/Internal Accruals 9,385,172.94 10,300,153.28 19,685,326.21
Loan Financing 5,000,000.00 4,000,000.00 9,000,000.00

Total Financing
Equity Financing 11,031,175.00 10,677,383 21,708,558.28
Loan Financing 6,500,000.00 5,000,000 11,500,000.00
17,531,175.00 15,677,383.28 33,208,558.28
 Annex-II
M/s Aarya Traders

Projected Balance Sheet

NRS '000
0 year
Description (Provisional) 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year
Sources of Funds

Shareholder's Fund
Registered Capital 6000 6000 6000 6000 6000 6000 6000 6000 6000 6000 6000
Capital applied in business 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000
Reserve and Surplus 31 1,543 2,557 4,216 5,524 7,351 9,332 11,893 14,134 17,222 20,168
Advance form Proprietor - - - - - - - - - - -
Sub Total 6,031 7,543 8,557 10,216 11,524 13,351 15,332 17,893 20,134 23,222 26,168
Loans
Term Loan (based on FA) 2,500 2,250 2,000 1,750 1,500 1,250 1,000 750 500 250 -
Business Overdraft Loan 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000

Sub Total 11,500 11,250 11,000 10,750 10,500 10,250 10,000 9,750 9,500 9,250 9,000

Total Sources 17,531 18,793 19,557 20,966 22,024 23,601 25,332 27,643 29,634 32,472 35,168

Application of Funds
Fixed Assets 3,290 4,667 4,667 5,245 5,245 5,926 5,926 6,617 6,617 7,081 7,081
Less: Depreciation 143.81 860 1,447 2,015 2,487 3,049 3,505 3,967 4,345 4,743 5,070

Net fixed Assets 3,146 3,807 3,220 3,230 2,758 2,877 2,421 2,650 2,272 2,339 2,011

Current Assets
Inventory 8,059 9,944 10,771 11,634 12,578 13,629 14,806 16,077 17,534 19,231 21,081
Receivables 1,244 4,486 5,026 5,615 6,276 6,764 7,896 8,866 10,001 11,350 12,883
Advance to Suppliers 4,911 858 901 946 993 1,043 1,095 1,150 1,207 1,268 1,331
Cash and Bank 350 686 749 781 810 835 867 893 914 928 933
Total Current Assets 14,564 15,974 17,447 18,977 20,657 22,270 24,664 26,987 29,657 32,776 36,228
Less: Current Liabilities and Provisions 178 987 1,111 1,240 1,392 1,546 1,754 1,994 2,295 2,642 3,071

Net Current Assets 14,385 14,986 16,336 17,736 19,265 20,724 22,910 24,993 27,362 30,134 33,157

Prelimenary Expenditure - - - - - - - - -
(to the extent of not written off)
Profit & Loss Account - - - - - - - - - - -

Total Application 17,531 18,793 19,557 20,966 22,024 23,601 25,332 27,643 29,634 32,472 35,168
Test of Balance Sheet - - - - - - - - - - -
 Annex-III
M/s Aarya Traders
Projected Profit and Loss Account
NRS '000
Description 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year

Sales Revenue 18,562 21,542 24,955 28,968 33,747 39,482 46,258 54,550 64,857 77,297

Less: Cost of Goods Sold

Cost of Purchase & Other Direct
Expenses 13,921 16,156 18,716 21,726 25,311 29,611 34,694 40,913 48,643 57,973
- - - - - - - - - -
Cost of Sales 13,921 16,156 18,716 21,726 25,311 29,611 34,694 40,913 48,643 57,973

Gross Margin 4,640 5,385 6,239 7,242 8,437 9,870 11,565 13,638 16,214 19,324
Indirect income 566 591 621 648 712 784 862 948 1,043 1,147
Total Income 5,206 5,976 6,859 7,890 9,149 10,654 12,426 14,586 17,257 20,471

Less: Office and Administrative Cost 1,317 1,656 1,970 2,371 2,814 3,355 3,848 4,427 5,118 5,919
Less: Selling and Distribution Cost 14 15 16 18 20 22 24 26 29 32
Less: Repair & Maintenance Expenses 87 91 95 100 105 110 116 122 128 134
Profit before Dep and Interest 3,789 4,215 4,777 5,400 6,211 7,167 8,439 10,011 11,983 14,386

Less: Depreciation 717 586 569 471 563 455 462 378 398 328
Amortisation - - - - - - - - - -
Profit before Interest 3,073 3,628 4,209 4,929 5,648 6,712 7,977 9,632 11,585 14,058

Interest on Loan 1,294 1,266 1,238 1,209 1,181 1,152 1,124 1,095 1,067 1,038

Profit before Tax 1,778 2,362 2,971 3,719 4,467 5,559 6,853 8,537 10,518 13,020

Less: Income Tax 267 354 446 558 670 834 1,028 1,281 1,578 1,953

Net Profit after Tax 1,512 2,008 2,525 3,161 3,797 4,725 5,825 7,256 8,941 11,067

Previous year's Profit 31 1,543 2,557 4,216 5,524 7,351 9,332 11,893 14,134 17,222
Cumulative Profit 1,543 3,551 5,082 7,378 9,321 12,076 15,157 19,150 23,074 28,289
Less: Withdrawls - 994 866 1,854 1,970 2,744 3,264 5,016 5,852 8,121

Cumulative Profit frowarded to B/S 1,543 2,557 4,216 5,524 7,351 9,332 11,893 14,134 17,222 20,168

GPR 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%

NPR 8% 9% 10% 11% 11% 12% 13% 13% 14% 14%

 Annex-IV
M/s Aarya Traders

Projected Cash Flow Statement

NRS '000
Description 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year

1. Cash Flow from Operating Activities

Net profit/(Loss) before Tax 1,778 2,362 2,971 3,719 4,467 5,559 6,853 8,537 10,518 13,020
Add. Depreciation 717 586 569 471 563 455 462 378 398 328
Less: Income Tax Payment (267) (354) (446) (558) (670) (834) (1,028) (1,281) (1,578) (1,953)

Cash Flow before change in W. C. 2,228 2,594 3,094 3,633 4,360 5,181 6,287 7,635 9,338 11,395
Adjustments for
Decrease/(Increase) in Inventories (1,884) (827) (864) (944) (1,051) (1,177) (1,272) (1,457) (1,697) (1,850)
Decrease/(Increase) in Sundry Debtors (3,242) (541) (588) (662) (485) (1,133) (971) (1,135) (1,349) (1,535)
Decrease/(Increase) in Advances & Deposits 4,053 (43) (45) (47) (50) (52) (55) (57) (60) (63)
Increase/(Decrease) in Trade Payables 809 124 129 152 152 207 242 301 348 429

Net Cash flow from Operating activities 1,964 1,307 1,726 2,132 2,926 3,026 4,232 5,287 6,580 8,376

2. Cash Flow from Investing Activities

Decrease/(Increase) in Fixed Assets (1,377) - (578) - (681) - (691) - (464) -

Decrease/(Increase) in Pre-operating exps. - - - - - - - - - -

Net Cash Flow from Investing Activities (1,377) - (578) - (681) - (691) - (464) -

3. Cash Flow from Financing Activities

Increase/(Decrease) in Registered Capital - - - - - - - - - -

Increase/(Decrease) in Long Term loans (250) (250) (250) (250) (250) (250) (250) (250) (250) (250)
Increase/(Decrease) in Short Term Loan - - - - - - - - - -
Increase in Directors' Advances - - - - - - - - - -
Withdrawls - (994) (866) (1,854) (1,970) (2,744) (3,264) (5,016) (5,852) (8,121)
Net Cash Flow from Financing Activities (250) (1,244) (1,116) (2,104) (2,220) (2,994) (3,514) (5,266) (6,102) (8,371)

Net increase in Cash and Cash equivalents 337 63 32 28 25 32 27 21 13 5

Cash and Cash Equivalents : Opening 350 686 749 781 810 835 867 893 914 928
Cash and Cash Equivalents : Closing 686 749 781 810 835 867 893 914 928 933

Cash Balance as per Balance sheet 686 749 781 810 835 867 893 914 928 933
Difference - - - - - - - - - -
 M/s Aarya Traders

Sales/Cost of Sales

Schedule - 10

Particulars 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year
Total Sales revenue 18,561,746.48 21,541,544.62 24,954,922.41 28,967,807.55 33,747,485.30 39,481,873.71 46,258,052.20 54,550,460.24 64,857,175.87 77,296,689.16
Income from Service - - - - - - - - - -
Total Sales 18,561,746.48 21,541,544.62 24,954,922.41 28,967,807.55 33,747,485.30 39,481,873.71 46,258,052.20 54,550,460.24 64,857,175.87 77,296,689.16
Opening Inventory 1,059,327.28 9,943,792.76 10,770,772.31 11,634,389.50 12,578,126.96 13,628,792.14 14,805,702.64 16,077,493.75 17,534,076.51 19,230,906.80
Add: Purchases 21,618,897.72 15,700,903.22 18,134,543.22 21,036,070.14 24,507,021.71 28,673,215.41 33,547,662.02 39,586,241.19 47,107,627.01 56,058,076.15
Direct Wages & Other DE 1,186,877.61 1,282,234.80 1,445,265.78 1,633,522.98 1,854,257.43 2,115,100.38 2,417,668.23 2,783,186.75 3,232,085.18 3,764,449.15
Less: Closing Inventories 9,943,792.76 10,770,772.31 11,634,389.50 12,578,126.96 13,628,792.14 14,805,702.64 16,077,493.75 17,534,076.51 19,230,906.80 21,080,915.22
Cost of Sales 13,921,309.86 16,156,158.47 18,716,191.81 21,725,855.66 25,310,613.97 29,611,405.28 34,693,539.15 40,912,845.18 48,642,881.90 57,972,516.87

Growth of Sales 0% 16% 16% 16% 16% 17% 17% 18% 19% 19%

Administrative Expenses Schedule - 12

Particulars 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year
Salary Expenses 307,500.00 570,125.00 801,162.50 1,111,627.50 1,445,115.75 1,878,650.48 2,254,380.57 2,705,256.68 3,246,308.02 3,895,569.62
Travelling Expenses 44,312.00 48,743.20 53,617.52 58,979.27 64,877.20 71,364.92 78,501.41 86,351.55 94,986.71 104,485.38
Consultancy & Audit Fee 30,000.00 30,000.00 30,000.00 30,000.00 40,000.00 40,000.00 40,000.00 40,000.00 50,000.00 50,000.00
Printing & Stationery 11,330.00 12,463.00 13,709.30 15,080.23 16,588.25 18,247.08 20,071.79 22,078.96 24,286.86 26,715.55
Postage & Telephone/Fax 31,220.00 34,342.00 37,776.20 41,553.82 45,709.20 50,280.12 55,308.13 60,838.95 66,922.84 73,615.13
Electricity Expenses 43,271.50 47,598.65 52,358.52 57,594.37 63,353.80 69,689.18 76,658.10 84,323.91 92,756.30 102,031.93
Guest Hospitality 16,668.00 18,334.80 20,168.28 22,185.11 24,403.62 26,843.98 29,528.38 32,481.22 35,729.34 39,302.27
Water Expenses 14,338.00 15,771.80 17,348.98 19,083.88 20,992.27 23,091.49 25,400.64 27,940.71 30,734.78 33,808.25
Fuel Expenses 49,774.00 54,751.40 60,226.54 66,249.19 72,874.11 80,161.52 88,177.68 96,995.44 106,694.99 117,364.49
Donation 13,250.00 14,575.00 16,032.50 17,635.75 19,399.33 21,339.26 23,473.18 25,820.50 28,402.55 31,242.81
Miscellaneous Expenses 37,878.00 41,665.80 45,832.38 50,415.62 55,457.18 61,002.90 67,103.19 73,813.51 81,194.86 89,314.34
Administrative Expenses 28,334.00 31,167.40 34,284.14 37,712.55 41,483.81 45,632.19 50,195.41 55,214.95 60,736.45 66,810.09
Office Expenses 18,990.00 20,889.00 22,977.90 25,275.69 27,803.26 30,583.58 33,641.94 37,006.14 40,706.75 44,777.43
Transportation Expenses 116,338.00 127,971.80 140,768.98 154,845.88 170,330.47 187,363.51 206,099.86 226,709.85 249,380.83 274,318.92
Service charge / Renewal & Other banking
charges 106,250.00 108,906.25 111,628.91 114,419.63 117,280.12 120,212.12 123,217.43 126,297.86 129,455.31 132,691.69
Transportation Expenses 177,445.00 195,189.50 214,708.45 236,179.30 259,797.22 285,776.95 314,354.64 345,790.11 380,369.12 418,406.03
Rent Expenses 270,000.00 283,500.00 297,675.00 312,558.75 328,186.69 344,596.02 361,825.82 379,917.11 398,912.97 418,858.62
Business Promotion Expenses 13,555.00 14,910.50 16,401.55 18,041.71 19,845.88 21,830.46 24,013.51 26,414.86 29,056.35 31,961.98
Total 1,330,453.50 1,670,905.10 1,986,677.64 2,389,438.24 2,833,498.15 3,376,665.77 3,871,951.69 4,453,252.32 5,146,635.02 5,951,274.53
 M/s Aarya Traders

Long Term & Short Term Debt (Secured)

Schedule -
Particulars 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year

Business Overdraft Loan 9,000,000.00 9,000,000.00 9,000,000.00 9,000,000.00 9,000,000.00 9,000,000.00 9,000,000.00 9,000,000.00 9,000,000.00 9,000,000.00

Demand Loan - - - - - - - - - -

HP Loan - - - - - - - - - -

Term Loan (Based on Fixed Assets) 2,250,000.00 2,000,000.00 1,750,000.00 1,500,000.00 1,250,000.00 1,000,000.00 750,000.00 500,000.00 250,000.00 -

Total 11,250,000.00 11,000,000.00 10,750,000.00 10,500,000.00 10,250,000.00 10,000,000.00 9,750,000.00 9,500,000.00 9,250,000.00 9,000,000.00
CPLTD - 250,000.00 250,000.00 250,000.00 250,000.00 250,000.00 250,000.00 250,000.00 250,000.00 250,000.00
Interest Expenses

Particulars 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year

Business OD Loan 1213333.33 3640000.00 3640000.00 3640000.00 3640000.00 3640000.00 3640000.00 3640000.00 3640000.00 3640000.00

Demand Loan - - - - - - - - - -

HP Loan - - - - - - - - - -

Business Term Loan - - - - - - - - - -

Total of Interest Expenses 1,213,333.33 3,640,000.00 3,640,000.00 3,640,000.00 3,640,000.00 3,640,000.00 3,640,000.00 3,640,000.00 3,640,000.00 3,640,000.00
 Annex-V
M/s Aarya Traders

Loan Repayment Schedule

Particuars 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year

Loans

Opening Balance - 11,250,000 11,000,000 10,750,000 10,500,000 10,250,000 10,000,000 9,750,000 9,500,000 9,250,000
Term Loan - 2,250,000 2,000,000 1,750,000 1,500,000 1,250,000 1,000,000 750,000 500,000 250,000
Revolving Loan - 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000

Total - 11,250,000 11,000,000 10,750,000 10,500,000 10,250,000 10,000,000 9,750,000 9,500,000 9,250,000

Addition of loan 11,500,000 - - - - - - - - -

Term Loan 2,500,000 - - - - - - - - -
Revolving Loan 9,000,000 - - - - - - - - -

Repayment of Loan (250,000) (250,000) (250,000) (250,000) (250,000) (250,000) (250,000) (250,000) (250,000) (250,000)
Term Loan (250,000) (250,000) (250,000) (250,000) (250,000) (250,000) (250,000) (250,000) (250,000) (250,000)
Revolving Loan - - - - - - - -

Closing Balance 11,250,000 11,000,000 10,750,000 10,500,000 10,250,000 10,000,000 9,750,000 9,500,000 9,250,000 9,000,000
Term Loan 2,250,000 2,000,000 1,750,000 1,500,000 1,250,000 1,000,000 750,000 500,000 250,000 -
Revolving Loan 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000

Total 11,250,000 11,000,000 10,750,000 10,500,000 10,250,000 10,000,000 9,750,000 9,500,000 9,250,000 9,000,000
Average Balance 11,375,000 11,125,000 10,875,000 10,625,000 10,375,000 10,125,000 9,875,000 9,625,000 9,375,000 9,125,000

Interest Rate 11.38% 11.38% 11.38% 11.38% 11.38% 11.38% 11.38% 11.38% 11.38% 11.38%

Interest 1,294,475 1,266,025 1,237,575 1,209,125 1,180,675 1,152,225 1,123,775 1,095,325 1,066,875 1,038,425
 Annex-VII
M/s Aarya Traders

Calculation of Net present Value & IRR

S Year Equity & Net Profit Depreciation Annual Discount NPV at given
No Loan & Interest Cash flow Factor (DF) DF
Year 0 (33,209) (33,209)
1 1st Year 1,512 2,011 3,523 11% 1,741
2 2nd Year 2,008 1,852 3,860 15% (3,866)
3 3rd Year 2,525 1,806 4,332 18% (6,931)
4 4th Year 3,161 1,681 4,842 12.09% 0
5 5th Year 3,797 1,743 5,540 20% (8,566)
6 6th Year 4,725 1,608 6,333 25% (11,594)
7 7th Year 5,825 1,586 7,411
8 8th Year 7,256 1,474 8,730
9 9th Year 8,941 1,464 10,405
10 10th Year 11,067 1,366 12,433
Internal Rate Return (IRR) 12.09%

M/s Aarya Traders

Calculation of Payback Period

S Year Equity & Net Profit Depreciation Annual Cummulative Payback

No Loan & Interest Cash flow Cash inflow period
Year 0 (33,209) (33,209) (33,209)
1 1st Year 1,512 2,011 3,523 (29,686)
2 2nd Year 2,008 1,852 3,860 (25,826)
3 3rd Year 2,525 1,806 4,332 (21,494) 7.01
4 4th Year 3,161 1,681 4,842 (16,652)
5 5th Year 3,797 1,743 5,540 (11,111)
6 6th Year 4,725 1,608 6,333 (4,778)
7 7th Year 5,825 1,586 7,411 2,632
8 8th Year 7,256 1,474 8,730 11,362
9 9th Year 8,941 1,464 10,405 21,768
10 10th Year 11,067 1,366 12,433 34,200
Payback Period 7.01
 Annex-VIII
M/s Aarya Traders

Production Plan, Sales & Inventory Status

Description 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year

Opening Stock- Fish 46,053 25,263 24,016 23,941 25,436 25,526 25,532 27,032 27,122 28,627
- - - - - - - - - -

Production (in Kgs)- Fish 375,000 375,000 375,000 400,000 400,000 400,000 425,000 425,000 450,000 450,000
- - - - - - - - - -

Sales - Fish 395,790 376,247 375,075 398,504 399,910 399,995 423,500 424,910 448,495 449,910
- - - - - - - - - -
Closing Inventory- Fish 25,263 24,016 23,941 25,436 25,526 25,532 27,032 27,122 28,627 28,718
- - - - - - - - - -
 Annex-IX
M/s Shivam Paints Pvt. Ltd.

Estimation of Sales Revenue

Description 1st year 2nd year 3rd year 4th year 5th year 6th year 7th year 8th year 9th year 10th year

Capacity Utilisation 75% 75% 75% 80% 80% 80% 85% 85% 90% 90%

A.Revenue

- - - - - - - - - -

- - - - - - - - - -

Sales -Fish 4,573,189 5,540,068 6,770,454 8,056,840 9,587,640 11,409,291 13,577,057 16,156,697 19,226,470 22,879,499

Sales -Milk - - - - - - - - - -

Total Sales 4,573,189 5,540,068 6,770,454 8,056,840 9,587,640 11,409,291 13,577,057 16,156,697 19,226,470 22,879,499

Total Sales (NRS '000) 4,573 5,540 6,770 8,057 9,588 11,409 13,577 16,157 19,226 22,879

5,559,219.68 6,615,471.42 7,872,410.99 9,368,169.08 10,986,554.23 13,073,999.54 15,558,059.45

5559.21968195138 6615.47142152214 7872.41099161134 9368.1690800175 10986.5542312321 13073.9995351662 15558.0594468478
 Annex-XI
M/s Aarya Traders

Operating Cost
NRs '000
Description 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year
Capacity Utilisation 75% 75% 75% 80% 80% 80% 85% 85% 90% 90%

Raw Materials
Cost for Fish 3,201 3,878 4,739 5,640 6,711 7,987 9,504 11,310 13,459 16,016
Cost for Milk - - - - - - - - - -
Total Raw Materials Consumptions 3,201 3,878 4,739 5,640 6,711 7,987 9,504 11,310 13,459 16,016

Cost of Labour - - - - - - - - - -
Utilities
Electricity - - - - - - - - - -
- - - - - - - - - -
Total Utilities - - - - - - - - - -

Repair and Maintenance - - - - - - - - - -

Total Repairs and Maintenances - - - - - - - - - -

Insurance - - - - - - - - - -

Total Insurance - - - - - - - - - -

Total Variable Cost 3,201 3,878 4,739 5,640 6,711 7,987 9,504 11,310 13,459 16,016

M/s Shivam Paints Pvt. Ltd.

Estimation of Office and Administration Expenses

NRS '000
Description 1st Year 2nd Year 3rd Year 4th Year 5th Year 5th Year 5th Year 5th Year 5th Year 5th Year
Salaries, Allowances and Benefits 648 713 784 862 949 1,044 1,148 1,263 1,389 1,528
Printing and Stationery 5 5 6 6 7 8 9 9 10 11
Travelling Expenses 8 10 11 12 13 14 16 17 19 21
Adv. & Promotion 7 9 10 10 11 13 14 15 17 18
Water & Electricity 23 27 31 32 35 39 43 47 52 57
Legal & Auditing Fee 20 25 25 26 29 32 35 38 42 47
Communication Expenses 5 6 6 6 7 8 9 9 10 11
Repair & Maintenance 8 9 11 11 12 14 15 17 18 20
Misc. Expenses 214 236 261 274 301 331 364 401 441 485
Total 939 1,039 1,144 1,241 1,365 1,501 1,651 1,816 1,998 2,198
 Annex-XII
M/s Aarya Traders

Working Capital Requirement Analysis

NRS '000
Description 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year
Current Assets:

Inventory 9,944 10,771 11,634 12,578 13,629 14,806 16,077 17,534 19,231 21,081
- - - - - - - - - -
Finished Goods 9,944 10,771 11,634 12,578 13,629 14,806 16,077 17,534 19,231 21,081

Account Receivables 4,486 5,026 5,615 6,276 6,764 7,896 8,866 10,001 11,350 12,883

Operational Cash 858 901 946 993 1,043 1,095 1,150 1,207 1,268 1,331
Advances to Party 858 901 946 993 1,043 1,095 1,150 1,207 1,268 1,331
Utilities - - - - - - - - - -
Insurance - - - - - - - - - -

Total Current Assets 15,288 16,698 18,195 19,848 21,435 23,797 26,093 28,742 31,849 35,295

Current Liabilities: 987 1,111 1,240 1,392 1,546 1,754 1,994 2,295 2,642 3,071
Provision for income tax 267 354 446 558 670 834 1,028 1,281 1,578 1,953
Account Payable/Creditors 721 757 794 834 876 920 966 1,014 1,065 1,118

Net Working Capital 14,300 15,587 16,955 18,456 19,889 22,044 24,100 26,448 29,206 32,224

Net WC (Rs.) 14,300,153 15,587,026 16,955,036 18,455,600 19,889,396 22,043,506 24,099,761 26,447,732 29,206,121 32,223,817

70% of Net WCR 10,010,107 10,910,918 11,868,526 12,918,920 13,922,577 15,430,454 16,869,833 18,513,413 20,444,285 22,556,672
 Annex-X
M/s Aarya Traders

Calculation of Break-even Point

Nrs.000
1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year

A. Fixed Cost
Depreciation 717 586 569 471 563 455 462 378 398 328
Interest 1,294 1,266 1,238 1,209 1,181 1,152 1,124 1,095 1,067 1,038
Insurance - - - - - - - - - -
Repair and Maintenance - - - - - - - - - -
Office and Admin Overhead 939 1,039 1,144 1,241 1,365 1,501 1,651 1,816 1,998 2,198

Total Fixed Cost 2,950 2,891 2,950 2,921 3,108 3,109 3,237 3,290 3,462 3,564

B. Variable Cost
Material Consumption 13,921 16,156 18,716 21,726 25,311 29,611 34,694 40,913 48,643 57,973
Cost of Labour - - - - - - - - - -
Utilities - - - - - - - - - -
Selling and Distribution Exp 14 15 16 18 20 22 24 26 29 32

Total Variable Cost 13,935 16,171 18,733 21,744 25,330 29,633 34,718 40,939 48,672 58,004

C. Sales Revenue
Sales 18,562 21,542 24,955 28,968 33,747 39,482 46,258 54,550 64,857 77,297

Total Sales 18,562 21,542 24,955 28,968 33,747 39,482 46,258 54,550 64,857 77,297

Contribution Margin NRS' 000 4,627 5,370 6,222 7,224 8,417 9,849 11,540 13,611 16,185 19,292

BEP in NRS ' 000 11,835 11,597 11,833 11,714 12,461 12,463 12,974 13,186 13,875 14,279

BEP in % of Capacity 47.82% 40.38% 35.56% 32.35% 29.54% 25.25% 23.84% 20.55% 19.25% 16.63%
 Annex-VI
M/s Aarya Traders

Profitability Analysis
NRS 000
1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year
Net Profit Before interest & depreciation 3,789 4,215 4,777 5,400 6,211 7,167 8,439 10,011 11,983 14,386

Interest 1,294 1,266 1,238 1,209 1,181 1,152 1,124 1,095 1,067 1,038

Profit before Depreciation & Tax 2,495 2,949 3,540 4,191 5,030 6,015 7,315 8,915 10,916 13,348

Less: Depreciation & Amortisation 717 586 569 471 563 455 462 378 398 328

Profit before Tax 1,778 2,362 2,971 3,719 4,467 5,559 6,853 8,537 10,518 13,020

Less: - Income Tax 267 354 446 558 670 834 1,028 1,281 1,578 1,953

Net Profit (Transferred to B/S) 1,512 2,008 2,525 3,161 3,797 4,725 5,825 7,256 8,941 11,067

M/s Aarya Traders

Financial Ratios
NRS 000
Particulars 1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year 10th Year
Net profit after tax before Interest 2,806 3,274 3,763 4,371 4,978 5,878 6,949 8,352 10,007 12,105

Total Capital employed 18,793 19,557 20,966 22,024 23,601 25,332 27,643 29,634 32,472 35,168
Equity capital 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000
Net worth 7,543 8,557 10,216 11,524 13,351 15,332 17,893 20,134 23,222 26,168
Total Debt 11,250 11,000 10,750 10,500 10,250 10,000 9,750 9,500 9,250 9,000
Current Assets 15,974 17,447 18,977 20,657 22,270 24,664 26,987 29,657 32,776 36,228
Current Liabilities 987 1,111 1,240 1,392 1,546 1,754 1,994 2,295 2,642 3,071
Return on Capital employed 14.93% 16.74% 17.95% 19.85% 21.09% 23.20% 25.14% 28.18% 30.82% 34.42%
Return on Equity 25.19% 33.47% 42.09% 52.69% 63.29% 78.76% 97.08% 120.94% 149.01% 184.45%
Return on Networth 20.04% 23.47% 24.72% 27.43% 28.44% 30.82% 32.55% 36.04% 38.50% 42.29%
Debt to Total Capital 59.86% 56.25% 51.27% 47.68% 43.43% 39.48% 35.27% 32.06% 28.49% 25.59%

Current Ratio (CA/CL) 16.18 15.70 15.30 14.84 14.40 14.06 13.54 12.92 12.40 11.80

Debt/ Net worth ratio 1 49/100 1 29/100 1 5/100 91/100 77/100 65/100 54/100 47/100 40/100 34/100

Debt Serving Capacity Ratio

Profit Before Interest and dep after Tax 3,523 3,860 4,332 4,842 5,540 6,333 7,411 8,730 10,405 12,433
Payment of Interest and Principal 1,544 1,516 1,488 1,459 1,431 1,402 1,374 1,345 1,317 1,288

Debt Serving Ratio 2.28 2.55 2.91 3.32 3.87 4.52 5.39 6.49 7.90 9.65

Principal 250.00 250.00 250.00 250.00 250.00 250.00 250.00 250.00 250.00 250.00
Interest 1,294.48 1,266.03 1,237.58 1,209.13 1,180.68 1,152.23 1,123.78 1,095.33 1,066.88 1,038.43
Total payment of Principal & Interest 1,544.48 1,516.03 1,487.58 1,459.13 1,430.68 1,402.23 1,373.78 1,345.33 1,316.88 1,288.43
 Annex-XIII

M/s Aarya Traders

Fixed Assets & Depreciation

1st Year 2nd Year

Description Op. Balance Addition Depreciation Cl Balance Op. Balance Depreciation Cl Balance
Land 0.00% - - - - - - -
Building & Other Structures 5.00% - 696,250 34,813 661,438 661,438 33,072 628,366
Plant, Machinery & Tools 15.00% 2,379,319 236,400 392,358 2,223,361 2,223,361 333,504 1,889,857
Vehicles 20.00% - 268,220 53,644 214,576 214,576 42,915 171,661
Furniture & Fixtures 25.00% 709,102 156,860 216,490 649,471 649,471 162,368 487,103
Office Equipment 25.00% 57,581 19,500 19,270 57,811 57,811 14,453 43,358
Total 3,146,002 1,377,230 716,575 3,806,657 3,806,657 586,312 3,220,345

3rd Year 4th Year

Description Op. Balance Addition Depreciation Cl Balance Op. Balance Depreciation Cl Balance
Land 0.00% - - - - - - -
Building & Other Structures 5.00% 628,366 - 31,418 596,947 596,947 29,847 567,100
Plant, Machinery & Tools 15.00% 1,889,857 578,150 370,201 2,097,806 2,097,806 314,671 1,783,135
Vehicles 20.00% 171,661 - 34,332 137,329 137,329 27,466 109,863
Furniture & Fixtures 25.00% 487,103 - 121,776 365,328 365,328 91,332 273,996
Office Equipment 25.00% 43,358 - 10,840 32,519 32,519 8,130 24,389
Total 3,220,345 578,150 568,567 3,229,928 3,229,928 471,446 2,758,483
 5th Year 6th Year
Description Op. Balance Addition Depreciation Cl Balance Op. Balance Depreciation Cl Balance
Land 0.00% - - - - - - -
Building & Other Structures 5.00% 567,100 - 28,355 538,745 538,745 26,937 511,808
Plant, Machinery & Tools 15.00% 1,783,135 - 267,470 1,515,665 1,515,665 227,350 1,288,315
Vehicles 20.00% 109,863 - 21,973 87,890 87,890 17,578 70,312
Furniture & Fixtures 25.00% 273,996 680,775 238,693 716,078 716,078 179,019 537,058
Office Equipment 25.00% 24,389 - 6,097 18,292 18,292 4,573 13,719
Total 2,758,483 680,775 562,588 2,876,670 2,876,670 455,457 2,421,212

7th Year 8th Year

Description Op. Balance Addition Depreciation Cl Balance Op. Balance Depreciation Cl Balance
Land 0.00% - - - - - - -
Building & Other Structures 5.00% 511,808 312,950 41,238 783,520 783,520 39,176 744,344
Plant, Machinery & Tools 15.00% 1,288,315 - 193,247 1,095,068 1,095,068 164,260 930,808
Vehicles 20.00% 70,312 377,850 89,632 358,530 358,530 71,706 286,824
Furniture & Fixtures 25.00% 537,058 - 134,265 402,794 402,794 100,698 302,095
Office Equipment 25.00% 13,719 - 3,430 10,289 10,289 2,572 7,717
Total 2,421,212 690,800 461,812 2,650,201 2,650,201 378,413 2,271,788

9th year 10th year

Description Op. Balance Addition Depreciation Cl Balance Op. Balance Depreciation Cl Balance
Land 0.00% - - - - - - -
Building & Other Structures 5.00% 744,344 - 37,217 707,127 707,127 35,356 671,770
Plant, Machinery & Tools 15.00% 930,808 177,380 166,228 941,960 941,960 141,294 800,666
Vehicles 20.00% 286,824 248,500 107,065 428,259 428,259 85,652 342,607
Furniture & Fixtures 25.00% 302,095 - 75,524 226,572 226,572 56,643 169,929
Office Equipment 25.00% 7,717 38,500 11,554 34,663 34,663 8,666 25,997
Total 2,271,788 464,380 397,588 2,338,579 2,338,579 327,611 2,010,969