PROJECT

FOR

NEW UNIT OF CNC MACHINE

UNDER

PMEGP SCHEME

SHINE ENGINEER
 INTRODUCTION AND BRIEF HISTORY OF
THE PROJECT

INTRODUCTION :

The introduction of CNC machines has radically changed the

manufacturing industry. Curves are as easy to cut as straight lines,
complex 3-D structures are relatively easy to produce, and the number
of machining steps that required human action has dramatically
reduced. With the increased automation of manufacturing processes
with CNC machining, considerable improvements in consistency and
quality can be achieved. CNC automation reduced the frequency of
errors and provided CNC operators with time to perform additional
tasks. CNC automation also allows for more flexibility in the way
parts are held in the manufacturing process and the time required to
change the machine to produce different components. In a production
environment, a series of CNC machines may be combined into one
station, commonly called a "cell", to progressively machine a part
requiring several operations.

In Industry it is not efficient or profitable to make everyday products

by hand. On a CNC machine it is possible to make hundreds or even
thousands of the same items in a day. First a design is drawn using
design software, and then it is processed by the computer and
manufactured using the CNC machine. This is a small CNC machine
and can be used to machine woods, plastics and aluminum. In
industry, CNC machines can be extremely large.
 Summery of Project Under PMEGP
Name of the Applicant JIGNA GODHANI
SHINE ENGINEERS
402,RAJYOG PALACE, SHRINATHJI PARK,
Complete Address of the
JIVRAJ PARK, BH GOL HEIGHT APARTMENT,
Applicant
RAJKOT-360004

Contact No. 9998334343

Aadhar Card No. 497042234527
Cast Category GENERAL
Date of Birth 08/02/1986
Education Qualification GRADUATE
Name of the
CNC MACHIEN JOB WORK (MANUFACTRUING)
Product/Activity

AT. KISHAN GATE,

JANANI INDUSTRIAL
Location of Proposed Unit
PLOTING, PLOT 613/6,
METODA
TA. LODHIKA
DIST. RAJKOT
(UNIT IS NEW AND IN RURAL AREA)
Name of the Financing Bank BANK OF INDIA

Bank Branch Address KALAWAD ROAD BRANCH (BKID0003110)

IFS Code BKID0003110

Capital Expenditure: - 31,50,000/-

Details of Project Cost (Rs.) Working Capital : - 8,50,000/-
Total : - 40,00,000/-
Employment to be
11
Generated
 CMA

Write the name of the applicant. Even if you write the name in lowercase, it will be automatically
copied to all other sheets in UPPERCASE only.

Name: SHINE ENGINEERS

Name: SHINE ENGINEERS

CONTENTS

1 Form-I Particulars of Limites & Information about Associate Companies

2 Form-II Operating Statement

3 Form-III Analysis of Balance Sheet - Liabilities

4 Form-III Analysis of Balance Sheet - Assets

5 Form-IV Comparative Statement of Current Assets & Current Liabilities

6 Form-V Maximum Permissible Bank Finance for Working Capital

7 Form-VI Funds Flow Statement

8 Summary of Financial Statements for Ratio Analysis

9 Ratio Analysis

10 Statement of Changes in Working Capital

11 Depreciation Chart

12 Repayment Schedule
 Assessment of Working Capital Requirements Rs. in Lakhs
FORM - I
Particulars of Existing / Proposed Limits from the Banking System
(Limits from all Banks and Financial Institutions as on date of application)
Name: SHINE ENGINEERS
Balance
Extent to which Limits Limits now
Existing outstanding
Sr. No. Name of Bank / Financial Institution Nature of Facility were utilised during last requested
Limits as on
12 months
31-Mar-22 2022-23
Maximum Minimum
A. Working Capital Limits:

1 Fund based
Cash Credit - - - - 8.50

2 Non-fund based Letter of Credit - - - - -

B. Term Loans/DPGS excluding Working Term Loan - - - - 31.50

Capital Loans

Total: - - - - - 40.00

Information about Associate Companies

(Companies / Firms / Concerns in which Directors / Partners / Proprietor and / or their family members or the brorower Company is /
are asssociated with the other Unit as Directors / Partners / Proprietor or has / have furnishted guarantees).
Name: SHINE ENGINEERS
Annual makeup of Limits from all Banks and financial institutions
Name of
Name of the Associate Company & A/c Working Capital Overdues, if
Sr. No. Bank / Term Loan &
Activity Date of Balance Non-fund any
Financial Fund based DPG
Sheet based
Institution

1 - - - -

2 - - - -

3 - - - -

- - - -
Page 5of 22 Assessment of Working Capital Requirements Rs. in Lakhs

FORM II : OPERATING STATEMENT

Name: SHINE ENGINEERS

Current Year
Following years Projected
Estimate
Sr. No. Particulars
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27 31-Mar-28
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
A Quantities:
i Raw Material Consumption - - - - - -
ii Sales - - - - - -
iii Rejects and Scraps - - - - - -

1 Gross Income
a Sales (net of returns)
i Domestic Sales 21.00 27.51 34.39 42.98 53.73 67.16
ii Export Sales - - - - -
T1 Sub-total
[ a(i+ii) ] 21.00 27.51 34.39 42.98 53.73 67.16
iii Less: Excise Duty - - - - - -
T2 Net Sales [ T1-iii ] 21.00 27.51 34.39 42.98 53.73 67.16
% rise or fall in sales turnover [compared to
iv {25.01%} {24.98%} {25.01%} {25.00%}
previous year]
b Other Income
i Other Income - - - - - -
T3 Total Other income [ b(i to iv) ] - - - - - -

T4 Total Gross Income [ T2+T3 ] 21.00 27.51 34.39 42.98 53.73 67.16

2 Cost of Production & Cost of Sales

a Raw Materials [Including Stores and other
items used in the process of manufacture)
i Imported - - - - - -
ii Indegenous 5.25 1.38 1.65 1.98 2.38 2.85
T5 sub-total
[ a(i+ii) ] 5.25 1.38 1.65 1.98 2.38 2.85
b Other Consumable Spares
i Imported - - - - - -
ii Indegeneous 0.85 0.94 1.03 1.65 1.98 2.38
T6 sub-total
[ b(i+ii) ] 0.85 0.94 1.03 1.65 1.98 2.38
c Direct Expenses
i Wages & Salary 1.30 1.43 1.72 2.06 2.47 2.97
ii Power & Fuel 1.25 1.38 1.65 1.98 2.38 2.85
ii Depreciation 5.13 4.74 3.82 3.13 2.59 2.15
T7 Total Direct Expenses [ c(i to x) ] 7.68 7.55 7.19 7.17 7.44 7.97
T8 sub-total
[ T5+T6+T7 ] 13.78 9.87 9.87 10.80 11.80 13.20
d Add : Opening stock of W.I.P. - - - - - -
T9 Sub-total
[ T8+2(d) ] 13.78 9.87 9.87 10.80 11.80 13.20
e Less : Closing Stock W.I.P. - - - - - -
T10 Total Cost of Production [ T9-2(e) ] 13.78 9.87 9.87 10.80 11.80 13.20
f Add : Opening stock of Finished Goods - 5.60 8.40 10.08 12.10 14.52
T11 sub-total
[ T10+2(f) ] 13.78 15.47 18.27 20.88 23.90 27.72
g Less : Closing Stock of Finished Goods 5.60 8.40 10.08 12.10 14.52 17.42
T12 Total Cost of Sales [ T11-2(g) ] 8.18 7.07 8.19 8.78 9.38 10.30

3 General, Administrative & Selling Expenses

i Selling, General & Administrative 1.50 1.65 1.98 2.38 2.85 3.42
T13 Total General, Administrative &
Selling Expenses [ 3(i to x) ] 1.50 1.65 1.98 2.38 2.85 3.42

4 Operating Profit before Interest ]

[ T4-T12-T13 11.32 18.79 24.22 31.82 41.50 53.44
Page 6of 22 Assessment of Working Capital Requirements Rs. in Lakhs

FORM II : OPERATING STATEMENT

Name: SHINE ENGINEERS

Current Year
Following years Projected
Estimate
Sr. No. Particulars
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27 31-Mar-28
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
5 Finance Charges
i Interest Expenses 3.22 3.26 2.68 2.04 1.35 0.81
T14 Total Finance Charges [ 5(i to v) ] 3.22 3.26 2.68 2.04 1.35 0.81

6 Operating Profit after Interest

[ 4-T14 ] 8.10 15.53 21.54 29.78 40.16 52.62

7 Non-Operating Income
i - - - - - -
T15 Total Non-Operating Income
[ 7(i to iii) ] - - - - - -

8 Non-Operating Expenses
i - - - - - -
9 T16 Total Non-Operating Expenses
[ 8(i to iii) ] - - - - - -
T17 Net Non-Operating Income (+) /
Expenses (-) [ T15-T16 ] - - - - - -

10 Net Profit before Tax / (Loss) PBT

[ 6+/(-)T17 ] 8.10 15.53 21.54 29.78 40.16 52.62
11 Provision for Taxes
12 Net Profit / Loss after Tax PAT
[ 10-11 ] 8.10 15.53 21.54 29.78 40.16 52.62
PAT to Net Sales
[ 12/T2
% ]% {38.58%} {56.46%} {62.62%} {69.28%} {74.74%} {78.35%}

13 Equity Dividend & Dividend Tax - - - - - -

Dividend Rate % {0.00%} {0.00%} {0.00%} {0.00%} {0.00%} {0.00%}
Dividend Distribution Tax % {0.00%} {0.00%} {0.00%} {0.00%} {0.00%} {0.00%}
14 Retained Profit [ 12-13 ] 8.10 15.53 21.54 29.78 40.16 52.62
15 [ 14/12
Retained Profit / PAT % ]% {100.00%} {100.00%} {100.00%} {100.00%} {100.00%} {100.00%}
 Assessment of Working Capital Requirements Rs. in Lakhs
FORM III : ANALYSIS OF BALANCE SHEET
Name: SHINE ENGINEERS
Current
Year Following years Projected
Sr. No. Particulars Estimate
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5
Current Liablities
1 Short term borrowings
a from Banks (including bills purchased, discounted
& excess borrowings placed on repayment basis)
i from Applicant Bank 8.50 8.50 8.50 8.50 8.50
ii from Other Banks - - - - -
T1 sub-total [ a(i + ii) ] 8.50 8.50 8.50 8.50 8.50
of which BP & BD
iii from Applicant Bank {00.00} {00.00} {00.00} {00.00} {00.00}
iv from Other Banks {00.00} {00.00} {00.00} {00.00} {00.00}
T2 sub-total [ b(iii + iv) ] - - - - -
T3 Total short term borrowings from banks T1 8.50 8.50 8.50 8.50 8.50
b from Others
i Sundry Trade Creditors - Indigenous 0.22 0.13 0.16 0.19 0.23
ii Sundry Trade Creditors - Import - - - - -
iii Advance payments from Customers /
Deposits from Dealers / Stockists - - - - -
iv Provision for Taxation - - - - -
v Dividend payable - - - - -
vi Other Statutory Liabilities (due within 1 year) - - - - -
vii Deposits / Debentures / Instalments of Term 5.94 6.52 7.15 7.85 1.57
Loans / DPGs etc. (due within 1 year) - - - - -
T4 Total short term borrowings from others [ b(i to vii) ] 6.15 6.65 7.31 8.04 1.80
2 Other Current Liabilities and Provisions
(due within one year-specify major items )
i Other Current Liabilites - - - - -
T5 sub-total [ 2(i to v) ] - - - - -
T6 Current Liabilities excl. bank borrowings [ T4+T5 ] 6.15 6.65 7.31 8.04 1.80
T7 Total Current Liabilities [ T3+T6 ] 14.65 15.15 15.81 16.54 10.30

3 Term Liabilities
a Debentures (maturing after 1 year) - - - - -
b Preference Shares (redeemable after 1 year) - - - - -
c Term loans (repayable after 1 year) 23.09 16.57 9.42 1.57 (0.00)
d Deferred Payment Credits (repayable after 1 year) - - - - -
e Term deposits (repayable after 1 year) - - - - -
f Other term liabilities
i Unsecured Loans
ii - - - - -
T8 Total Term Liabilities [ 3(a to f) ] 23.09 16.57 9.42 1.57 (0.00)
T9 Total Outside Liabilities [ T7+T8 ] 37.74 31.72 25.23 18.11 10.30

4 Net Worth
a Capital 2.00 10.10 17.87 28.64 43.53
b General reserve - - - - -
c Revaluation Reserve - - - - -
d Other reserves (excluding provisions) - - - - -
e Surplus (+) or deficit (-) in P & L A/c 8.10 15.53 21.54 29.78 40.16
f Others
i Addition During the year - - - -
ii Withdrawal - 7.77 10.77 14.89 20.08
iii - - - - -
iv - - - - -
v - - - - -
T10 Net Worth [ 4(a to f) ] 10.10 17.87 28.64 43.53 63.61
T11 Total Liabilities [ T9+T10 ] 47.84 49.59 53.87 61.64 73.91
Page 8 of 22 Assessment of Working Capital Requirements Rs. in Lakhs
FORM III : ANALYSIS OF BALANCE SHEET
Name: SHINE ENGINEERS
Current
Year Following years Projected
Sr. No. Particulars Estimate
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
Current Assets
5 Cash and bank balances 1.45 1.83 4.28 8.19 14.42
6 Investments - - - - -
[other than long term Investments]
i Government & other trustee securities - - - - -
ii Fixed deposits with Banks & Others - - - - -
T12 sub-total [ 6(i+ii) ] - - - - -
7 i Receivables other than deferred & exports 2.59 3.39 4.24 5.30 6.62
[Including bills purchased & discounted
by bankers]
ii Export receivables (Including bills - - - - -
purchased/discounted by bankers)
T13 sub-total [ 7(i+ii) ] 2.59 3.39 4.24 5.30 6.62
8 Instalments under deferred receivables - - - - -
(due within one year)
9 Inventory
a Raw Materials [Including Stores and other
items used in the process of manufacture)
i Imported - - - - -
ii Indigeneous - - - - -
b Work [ Stock ] in Process - - - - -
c Finished Goods 5.60 8.40 10.08 12.10 14.52
d Goods in Transit - - - - -
e Other consumable spares
i Imported - - - - -
ii Indigeneous - - - - -
T14 sub-total [ 9(a to e) ] 5.60 8.40 10.08 12.10 14.52
10 Advances to suppliers of of raw materials /
stores & spares - - - - -
11 Advance payment of taxes - - - - -
12 Other current assets [specify major items]
i Other Curren Assets 5.00 6.25 7.81 9.77 12.21
ii Deposits - - - - -
iii Advance to Labour - - - - -
T15 sub-total [ 12(i to iii) ] 5.00 6.25 7.81 9.77 12.21

T16 Total Current Assets [ 5 to 12 ] 19.64 26.12 34.22 45.12 59.98

13 Fixed Assets
i Gross Block 33.33 28.21 23.47 19.64 16.51
ii Depreciation to date 5.13 4.74 3.82 3.13 2.59
T17 Net Block [ 13(i-ii) ] 28.21 23.47 19.64 16.51 13.93

Other Non-Current Assets

14 Investments / book debts /advances /
deposits which are non-current
a Investments in subsidiary
companies / affiliates - - - - -
b Other investments - - - - -
c Advances to suppliers of
capital goods and contractors - - - - -
d Deferred receivables
[maturity exceeding one year] - - - - -
e Security deposits / Tender Deposits - - - - -
f Others
i Loans and Advances - - - - -
ii - - - - -
iii - - - - -
T18 sub-total [ 14(a to f) ] - - - - -
15 Obsolete Stocks - - - - -
16 Non-consumable consumables & spares - - - - -
17 Other non-current assets - - - - -
(Including dues from directors)
T19 Total Other Non-Current Assets [ 14 to 17 ] - - - - -
Page 9 of 22 Assessment of Working Capital Requirements Rs. in Lakhs
FORM III : ANALYSIS OF BALANCE SHEET
Name: SHINE ENGINEERS
Current
Year Following years Projected
Sr. No. Particulars Estimate
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

18 Intangible assets - - - - -
(Patents, Goodwill, Preliminary Expenses,
Bad / Doubtful Debts not provided for etc)

T20 Total Assets [ T16+T17+T19+18 ] 47.85 49.59 53.87 61.63 73.91

0.00 0.00 0.00 0.00 0.00

T21 Tangible Net Worth [ T10-18 ] 10.10 17.87 28.64 43.53 63.61
T22 Net Working Capital [ T16-T7 ] 4.99 10.97 18.42 28.58 49.68
19 Current Ratio [ T14/T4 ] 1.34 1.72 2.16 2.73 5.82
20 Total Outside Liabilities/
Tangible Net Worth [ T9/T21 ] 3.74 1.78 0.88 0.42 0.16
21 Total Term Liabilities/
Tangible Net Worth [ T8/T21 ] 2.29 0.93 0.33 0.04 (0.00)

22 Additional Information
a Arrears of depreciation - - - - -
b Contingent Liabilities :
i Arrears of cumulative dividends - - - - -
ii Gratuity liability not provided for - - - - -
iii Disputed excise/customs tax liabilities - - - - -
iv Bills accepted / guarnatees extended to
accommodate associate / sister concerns /
other third parties - - - - -
 Assessment of Working Capital Requirements Rs. in Lakhs
FORM - IV : COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
Name: SHINE ENGINEERS
Following
years Following years Projected
Sr. No. Particulars Projected
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5
CURRENT ASSETS
1 Raw Materials [Including Stores and other
items used in the process of manufacture)
i Imported - - -
[Months' Consumption] {00.00} {00.00} {00.00} {00.00} {00.00}

ii Indigeneous - - - - -
[Months' consumption] {00.00} {00.00} {00.00} {00.00} {00.00}

2 Stocks in Process - - - - -
[Months' Cost of Production] {00.00} {00.00} {00.00} {00.00} {00.00}

3 Finished Goods 5.60 8.40 10.08 12.10 14.52

[Months' Cost of Sales] {08.22} {14.26} {14.76} {16.54} {18.58}

4 Other consumable spares

i Imported - - - - -
[Months' Consumption] {00.00} {00.00} {00.00} {00.00} {00.00}

ii Indigeneous - - - - -
[Months' consumption] {00.00} {00.00} {00.00} {00.00} {00.00}

5 Receivables other than export & deferred

receivables (including bills purchased &
discounted by bankers) 2.59 3.39 4.24 5.30 6.62
[Months' domestic sales including deferred payment sales] {01.48} {01.48} {01.48} {01.48} {01.48}

6 Export receivables [including bills purchased &

discounted] - - - - -
[Months' export sales] {00.00} {00.00} {00.00} {00.00} {00.00}

7 Advances to suppliers of of raw materials /

stores & spares - - - - -
8 Other current assets incl.cash & bank balances
& deferred receivables due within 1 year [major items only]
i Cash & bank balances 1.45 1.83 4.28 8.19 14.42
ii Investments [ other than long term ] - - - - -
iii Instalments under deferred receivables [ due within 1 year ] - - - - -
iv Advance payment of taxes - - - - -
v Other current assets as per T15 of Form-III 5.00 6.25 7.81 9.77 12.21
T1 Total Current Assets 14.64 19.87 26.41 35.35 47.77

CURRENT LIABILITIES
[Other than bank borrowings for working capital]

9 Sundry Trade Creditors [for raw materials, stores, 0.22 0.13 0.16 0.19 0.23
spares & consumables]
[Months' purchases] 0.42 0.68 0.71 0.63 0.63

10 Advances from customers / deposits from dealers - - - - -

11 Statutory liabilities [Including Provision for Taxation] - - - - -
12 Other current liabilities [specify major items]
[Short Term borrowings, unsecured loans,
dividend payable, instalments of TL,
DPG, public deposits, debentures etc.]
i Deposits / Debentures / Instalments of Term
Loans / DPGs etc. (due within 1 year) 5.94 6.52 7.15 7.85 1.57
ii Other Current Liabilites - - - - -
sub-total [ 12(i to ii) ] 5.94 6.52 7.15 7.85 1.57
T2 Total Current Liabilities 6.15 6.65 7.31 8.04 1.80
 Assessment of Working Capital Requirements Rs. in Lakhs
FORM-V: COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE (MPBF) FOR WORKING CAPITAL
Name: SHINE ENGINEERS
Following
years Following years Projected
Sr. No. Particulars Projected
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

FIRST Method of Lending

1 Total Current Assets 14.64 26.41 26.41 35.35 47.77
[ T1 in Form-IV ]

2 Current Liabilities [Other than bank borrowing] 6.15 7.31 7.31 8.04 1.80
[ T2 in Form-IV ]

3 Working Capital Gap [WCG] 8.49 19.10 19.10 27.31 45.97

[1-2]

4 Minimum Stipulated Net Working Capital 2.12 4.78 4.78 6.83 11.49
[ 25% of WCG excluding export receivables]
[ (item 3 above - item no. 6 in Form - IV)*0.25 ]

5 Actual / Projected Net Working Capital [ NWC ] 4.99 10.97 18.42 28.58 49.68
[ T22 in Form-III ]

6 Item no. 3 minus Item no. 4 6.37 14.33 14.33 20.49 34.48

7 Item no. 3 minus Item no. 5 3.50 8.13 0.69 (1.27) (3.71)

8 Maximum permissible bank finance [MPBF] 3.50 8.13 0.69 (1.27) (3.71)
[ least of item 6 or 7 above ]

9 Excess borrowings representing shortfall in NWC - - - - -

[ item 4 - item 5 ]

SECOND Method of Lending

1 Total Current Assets 14.64 26.41 26.41 35.35 47.77
[ T1 in Form-IV ]

2 Current Liabilities [other than bank borrowings] 6.15 7.31 7.31 8.04 1.80
[ T2 in Form-IV ]

3 Working Capital Gap (WCG) (1-2) 8.49 19.10 19.10 27.31 45.97
[1-2]
4 Minimum Stipulated Net Working Capital 3.66 6.60 6.60 8.84 11.94
[25% of total Current Assets excluding export receivables]
[ (1 above - item 6 in Form-IV)*0.25 ]

5 Actual / Projected net working capital 4.99 10.97 18.42 28.58 49.68
[ T22 in Form-III ]

6 Item no. 3 minus Item no. 4 4.83 12.50 12.50 18.48 34.03

7 Item no. 3 minus Item no. 5 3.50 8.13 0.69 (1.27) (3.71)

8 Maximum permissible bank finance [MPBF] 3.50 8.13 0.69 (1.27) (3.71)
[ least of item 6 or 7 above ]

9 Excess borrowings representing shortfall in NWC - - - - -

[ item 4 - item 5 ]
 Assessment of Working Capital Requirements Rs. in Lakhs
FORM-V: FUNDS FLOW STATEMENT
Name: SHINE ENGINEERS
Following
years Following years Projected
Sr. No. Particulars Projected
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
A SOURCES OF FUNDS
1 Net profit for the year after tax 8.10 15.53 21.54 29.78 40.16
2 Depreciation 1.30 (0.39) (0.91) (0.70) (1.24)
3 Increase in capital - 8.10 7.77 10.77 25.66
4 Increase in long-term funds / term liabilities - - - - -
5 Decrease in fixed assets 1.78 5.13 4.74 3.82 6.95
6 Decrease in other non-current assets - - - - -
7 Others - - - - -
8 - - - - -
9 - - - - -
10 - - - - -
T1 Total 11.18 28.37 33.13 43.68 71.53

B APPLICATION OF FUNDS
1 Net loss for the year - - - - -
2 Decrease in capital 27.46 - - - -
3 Decrease in long-term funds / term liabilities 0.99 6.52 7.15 7.85 9.42
4 Increase in fixed assets - - - - -
5 Increase in other non-current assets - - - - -
6 Dividend payments - - - - -
7 Others 5.78 15.87 18.53 25.66 30.85
8 - - - - -
9 - - - - -
10 - - - - -
T2 Total 34.23 22.38 25.69 33.51 40.27
a Long term surplus (+) / deficit (-) [ T1-T2 ] (23.05) 5.99 7.44 10.17 31.26
b Increase / (decrease) in current assets * (19.71) 5.23 6.54 8.94 21.36
* as per details given below at "h"
c Increase / (decrease) in current liabilities other
than bank borrowings (9.95) 0.50 0.66 0.73 (5.51)
d Increase / (decrease) in working capital gap (9.76) 10.62 - 8.21 26.87
e Net surplus / (deficit) (13.29) (4.63) 7.44 1.96 4.39
f Increase / (decrease) bank borrowings 3.50 - - - -
g Increase / (decrease) net sales (24.94) 6.51 6.88 8.59 19.34

h Break-up of "b" above:

Increase / (decrease) in inventory of:
i Raw materials - - - - -
ii Work [ Stock ] in Process - - - - -
iii Finished Goods (15.55) 2.80 1.68 2.02 4.44
iv Goods in Transit - - - - -
v Other consumable spares - - - - -
Increase / (decrease) in receivables
vi Domestic (7.25) 0.80 0.85 1.06 2.38
vii Export - - - - -
viii Increase / (decrease) in other current assets 3.09 1.63 4.01 5.86 14.53
Net total of [ h(i to viii) ] (19.71) 5.23 6.54 8.94 21.36
Page 13 of 22 Assessment of Working Capital Requirements Rs. in Lakhs
SUMMARY OF FINANCIAL STATEMENTS FOR RATIO ANALYSIS
SHINE ENGINEERS
Name:
Following
years Following years Projected
Sr. Projected
Particulars
No.
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5
OPERATING STATEMENT
INCOME
Domestic sales 21.00 27.51 34.39 42.98 53.73
Export sales - - - - -
Gross Sales 21.00 27.51 34.39 42.98 53.73
Excise duty - - - - -
Net Sales 21.00 27.51 34.39 42.98 53.73
Other Income - - - - -
Gross Income 22.30 27.51 34.39 42.98 53.73
EXPENSES
Raw material [Imported] - - - - -
Raw material [Indigenous] 5.25 1.38 1.65 1.98 2.38
Consumables [Imported] - - - - -
Consumables [Indigenous] 0.85 0.94 1.03 1.65 1.98
Total Material Cost 5.25 1.38 1.65 1.98 2.38
Total Consumables Cost 0.85 0.94 1.03 1.65 1.98
Total purchases 6.10 2.32 2.68 3.63 4.36
Direct Labour 1.30 1.43 1.72 2.06 2.47
Depreciation 5.13 4.74 3.82 3.13 2.59
Other direct overheads 1.25 1.38 1.65 1.98 2.38
Total direct expenses 7.68 7.55 7.19 7.17 7.44
Inventory [opening] of WIP - - - - -
Inventory [closing] of WIP - - - - -
Total cost of production 13.78 9.87 9.87 10.80 11.80
Inventory [opening] of finished goods - 5.60 8.40 10.08 12.10
Inventory [closing] of finished goods 5.60 8.40 10.08 12.10 14.52
Average inventory of finished goods 2.80 7.00 9.24 11.09 13.31
Total cost of sales 8.18 7.07 8.19 8.78 9.38
Gross Profit 14.12 20.44 26.20 34.20 44.35
Total indirect expenses 1.50 1.65 1.98 2.38 2.85
Opearting profit before finance charges 11.32 18.79 24.22 31.82 41.50
Total finance charges [only interest element] 3.22 3.26 2.68 2.04 1.35
Opearting profit after finance charges 8.10 15.53 21.54 29.78 40.16
Non-operating income - - - - -
Non-operating expenses - - - - -
Profit before Tax / (Loss) PBT 8.10 15.53 21.54 29.78 40.16
Provision for Taxes - - - - -
Net Profit / Loss after Tax PAT 8.10 15.53 21.54 29.78 40.16
Equity divident payout - - - - -
Retained Profit 8.10 15.53 21.54 29.78 40.16
Net profit before depreciation, interest & tax [PBDIT] 16.45 23.53 28.04 34.95 44.09
Net profit before interest & tax [PBIT] 11.32 18.79 24.22 31.82 41.50
Page 14 of 22 Assessment of Working Capital Requirements Rs. in Lakhs
SUMMARY OF FINANCIAL STATEMENTS FOR RATIO ANALYSIS
SHINE ENGINEERS
Name:
Following
years Following years Projected
Sr. Projected
Particulars
No.
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5

BALANCE SHEET
Liabilities
Short-term borrowings from banks 8.50 8.50 8.50 8.50 8.50
Sundry creditors 0.22 0.13 0.16 0.19 0.23
Opening creditors for FIRST year  NA NA NA NA NA
Average creditors 4.79 0.17 0.19 0.16 0.19
Short-term borrowings from others 6.15 6.65 7.31 8.04 1.80
Other current liabilities - - - - -
Total current liabilities 14.65 15.15 15.81 16.54 10.30
Total term liabilities 23.09 16.57 9.42 1.57 (0.00)
Total outside liabilities 37.74 31.72 25.23 18.11 10.30
Total liabilities 47.84 49.59 53.87 61.64 73.91

Assets
Cash, bank & investments 1.45 1.83 4.28 8.19 14.42
Receivables-other than export 2.59 3.39 4.24 5.30 6.62
Receivables-export - - - - -
Total Receivables 2.59 3.39 4.24 5.30 6.62
Opening debtors for FIRST year  NA NA NA NA NA
Average receivables 6.21 2.99 3.41 4.35 5.43
Inventory 5.60 8.40 10.08 12.10 14.52
Other current assets 5.00 7.81 7.81 9.77 12.21
Total current assets 19.64 26.12 34.22 45.12 59.98

Fixed assets
Gross block 33.33 23.47 23.47 19.64 16.51
Depreciation upto date 5.13 3.82 3.82 3.13 2.59
Net block 28.21 19.64 19.64 16.51 13.93

Total other non-current assets - - - - -

Intangible Assets - - - - -
Total assets 47.85 53.87 53.87 61.63 73.91

Total Tangible Assets 47.85 53.87 53.87 61.63 73.91

Net worth 10.10 17.87 28.64 43.53 63.61
Tangible net worth 10.10 28.64 28.64 43.53 63.61
Net working capital 4.99 18.42 18.42 28.58 49.68
Page 15 of 22 Assessment of Working Capital Requirements
RATIO ANALYSIS
Name: SHINE ENGINEERS
Following
years Following years Projected
Sr. No. Particulars Projected
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5
A Long-term Solvency Ratios
1 Debt Equity Ratio 2.29 0.58 0.33 0.04 (0.00)

2 Net Worth to Total Assets Ratio 0.21 0.53 0.53 0.71 0.86

3 Debt to Net Worth Ratio 2.29 0.58 0.33 0.04 (0.00)

4 Capital Gearing Ratio 2.29 0.58 0.33 0.04 (0.00)

5 Fixed Assets to Long Term Funds 1.22 1.19 2.08 10.50 -

6 Propriety Ratio 0.21 0.53 0.53 0.71 0.86

7 Interest Coverage 5.11 7.22 10.47 17.11 32.78

8 Debt Service Coverage 3.19 2.71 3.24 4.07 5.15

B Short-term Solvency Ratios

1 Current Ratio 1.34 1.72 2.16 2.73 5.82

2 Quick Ratio or Liquid Ratio or Acid Test Ratio 0.96 1.17 1.53 2.00 4.41

3 Absolute Liquid Ratio 0.10 0.12 0.27 0.50 1.40

C Profitability Ratios
1 Return on Capital Employed or Return on
Investment 16.93% 28.84% 39.98% 48.31% 54.34%

2 Gross Profit Margin 67.25% 74.31% 76.17% 79.57% 82.55%

3 Net Profit Margin 38.58% 56.46% 62.62% 69.28% 74.74%

4 Cash Profit Ratio 63.00% 73.69% 73.74% 76.56% 79.56%

5 Return on Net Worth 80.20% 54.24% 75.20% 68.41% 63.14%

6 Operating Profit (before interest) Margin 53.92% 68.31% 70.41% 74.04% 77.24%

7 Operating Profit (after interest) Margin 38.58% 56.46% 62.62% 69.28% 74.74%
Page 16 of 22 Assessment of Working Capital Requirements
RATIO ANALYSIS
Name: SHINE ENGINEERS
Following
years Following years Projected
Sr. No. Particulars Projected
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5
D Activity Ratios
1 Inventory Turnover Ratio 3.75 3.28 3.41 3.55 3.70
[Based on closing inventory]

2 Inventory Turnover Ratio 7.50 3.93 3.72 3.88 4.04

[Based on average inventory]

3 Inventory Turnover Ratio 2.92 1.01 0.89 0.79 0.70

[Based on cost of sales / average inventory]

4 Inventory Turnover Period

i Based on net sales & closing inventory 97.33 111.45 106.98 102.76 98.64
ii Based on net sales & average inventory 48.67 92.88 98.07 94.18 90.42
iii Based on net cost of sales & average inventory 124.99 361.49 411.57 461.08 518.11

5 Debtors Turnover Ratio 8.11 8.11 8.11 8.11 8.11

[Based on closing debtors]

6 Debtors Turnover Ratio 3.38 9.20 10.07 9.89 9.89

[Based on average debtors]

7 Debtors Turnover Period

i Based on net sales & closing debtors 45.00 45.00 45.00 45.00 45.00
ii Based on net sales & average debtors 108.01 39.68 36.24 36.90 36.90

8 Creditors Turnover Ratio 28.27 17.53 16.94 19.12 19.10

[Based on closing creditors]

9 Creditors Turnover Ratio 1.27 13.33 14.33 22.53 22.57

[Based on average creditors]

10 Creditors Turnover Period

i Based on purchases & closing creditors 12.91 20.82 21.55 19.09 19.11
ii Based on purchases & average creditors 286.79 27.38 25.47 16.20 16.18

11 Fixed Assets Turnover Ratio 0.74 1.40 1.75 2.60 3.86

12 Assets Turnover Ratio 0.44 0.51 0.64 0.70 0.73

13 Working Capital Turnover Ratio 4.21 1.49 1.87 1.50 1.08

14 Sales to Capital Employed 2.08 0.96 1.20 0.99 0.84

E Operating Ratios
1 Domestic Sales Proportion 100.00% 100.00% 100.00% 100.00% 100.00%

2 Export Sales Proportion 0.00% 0.00% 0.00% 0.00% 0.00%

3 Material Cost Ratio 25.00% 5.02% 4.80% 4.61% 4.43%

4 Consumables Cost Ratio 4.05% 3.42% 3.00% 3.84% 3.69%

5 Direct Labour Cost Ratio 6.19% 5.20% 5.00% 4.79% 4.60%

6 Other Direct Cash Overheads Cost Ratio 5.95% 5.02% 4.80% 4.61% 4.43%

7 Total Direct Cost Ratio [excl material & consumables] 36.56% 27.44% 20.92% 16.68% 13.84%

8 Total Direct Cost Ratio [incl material & consumables] 65.60% 35.87% 28.71% 25.13% 21.96%

9 Indirect Cost Ratio 7.14% 6.00% 5.76% 5.54% 5.30%

10 Interest Cost Ratio 15.34% 11.85% 7.79% 4.75% 2.50%

11 Operating Cost Ratio 61.42% 43.54% 37.38% 30.72% 25.26%

 Assessment of Working Capital Requirements Rs. in Lakhs
STATEMENT OF CHANGES IN WORKING CAPITAL
Name: SHINE ENGINEERS
Following
years Following years Projected
Sr. No. Particulars Projected
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

Current Assets
Cash and bank balances 1.45 1.83 4.28 8.19 14.42
Investments
Investments [other than long term] - - - - -
Government & other trustee securities - - - - -
Fixed deposits with Banks & Others - - - - -
Receivables
Receivables other than deferred & exports 2.59 3.39 4.24 5.30 6.62
Export receivables - - - - -
Instalments under deferred receivables - - - - -
Inventory
Raw Materials
Imported - - - - -
Indigeneous - - - - -
Work [ Stock ] in Process - - - - -
Finished Goods 5.60 8.40 10.08 12.10 14.52
Goods in Transit - - - - -
Other consumable spares
Imported - - - - -
Indigeneous - - - - -
Advances to suppliers - - - - -
Advance payment of taxes - - - - -
Other Curren Assets 5.00 6.25 7.81 9.77 12.21
Deposits - - - - -
Advance to Labour - - - - -
Total Current Assets 14.64 19.87 26.41 35.35 47.77
Change in the current assets (19.71) 5.23 11.77 15.48 21.36

Current Liabilities
Short term borrowings from Banks
from Applicant Bank 8.50 8.50 8.50 8.50 8.50
from Other Banks - - - - -
of which BP & BD
from Applicant Bank - - - - -
from Other Banks - - - - -
Short term borrowings from Others
Sundry Trade Creditors - Indigenous 0.22 0.13 0.16 0.19 0.23
Sundry Trade Creditors - Import - - - - -
Advance from Customers / deposits from dealers - - - - -
Provision for Taxation - - - - -
Dividend payable - - - - -
Other Statutory Liabilities - - - - -
Deposits / Debentures / Instalments of Term
Loans / DPGs etc. 5.94 6.52 7.15 7.85 1.57
Other Current Liabilities and Provisions
Other Current Liabilites - - - - -
- - - - -
- - - - -
- - - - -
Total Current Liabilities 14.65 15.15 15.81 16.54 10.30
Change in the current liabilities (6.45) 0.50 1.16 1.39 (5.51)
Net Working Capital as calculated above (0.01) 4.72 10.60 18.81 37.47
Increase / (Decrease) in Net Working Capital (13.26) 4.74 10.62 14.09 26.87
 DHR IMPEX INDIA PRIVATE LIMITED

DEPRECIATION CHART

Sr. No. Particulars Rate Opening Depreciation as Depreciation as Depreciation as Depreciation as Depreciation as
WDV/COST OF on 31.03.2023 on 31.03.2024 on 31.03.2025 on 31.03.2026 on 31.03.2027
ASSET

1 COMPUTER 40% 253500.00 50,700 81,120 48,672 29,203 17,522

2 MACHINERY 15% 3079800.00 4,61,970 3,92,675 3,33,773 2,83,707 2,41,151

TOTAL DEPRECIATION 3333300.00 512670 473795 382445.33 312910.53 258673.15

 ANNEXURE

TERM LOAN INTEREST CALCULATION

Rate on Bank Term Loan is calculated at 9.35% per annum.

[A] TERM LOAN :

TERM LOAN : ` 31.50 lacs

INTEREST RATE : 9.35%
MONTHLY INSTALLMENT : ` -
MORATORIUM : 3.00 Months

( Rs. In '000 )
Year Month Loan Amt O/s Principal Amount Interest @ 9.35% Installment Closing
Opening Balance

1 Apr-22 0.00 0.00 0.00 0.00 0.00

2 May-22 0.00 0.00 0.00 0.00 3,150.00
3 Jun-22 3,150.00 0.00 24.54 0.00 3,174.54
4 Jul-22 3,174.54 0.00 24.73 0.00 3,199.28
5 Aug-22 3,199.28 0.00 24.93 0.00 3,224.21
6 Sep-22 3,224.21 44.88 25.12 70.00 3,179.33
7 Oct-22 3,179.33 45.23 24.77 70.00 3,134.10
8 Nov-22 3,134.10 45.58 24.42 70.00 3,088.52
9 Dec-22 3,088.52 45.94 24.06 70.00 3,042.59
10 Jan-23 3,042.59 46.29 23.71 70.00 2,996.29
11 Feb-23 2,996.29 46.65 23.35 70.00 2,949.64
12 Mar-23 2,949.64 47.02 22.98 70.00 2,902.62
Total 321.59 242.62 490.00

( Rs. In '000 )
Year Month Loan Amt O/s Principal Amount Interest @ 9.35% Installment Closing
Opening Balance

1 Apr-23 2,902.62 47.38 22.62 70.00 2,855.24

2 May-23 2,855.24 47.75 22.25 70.00 2,807.48
3 Jun-23 2,807.48 48.13 21.87 70.00 2,759.36
4 Jul-23 2,759.36 48.50 21.50 70.00 2,710.86
5 Aug-23 2,710.86 48.88 21.12 70.00 2,661.98
6 Sep-23 2,661.98 49.26 20.74 70.00 2,612.72
7 Oct-23 2,612.72 49.64 20.36 70.00 2,563.08
8 Nov-23 2,563.08 50.03 19.97 70.00 2,513.05
9 Dec-23 2,513.05 50.42 19.58 70.00 2,462.63
10 Jan-24 2,462.63 50.81 19.19 70.00 2,411.82
11 Feb-24 2,411.82 51.21 18.79 70.00 2,360.61
12 Mar-24 2,360.61 51.61 18.39 70.00 2,309.00
Total 593.62 246.38 840.00

( Rs. In '000 )
Year Month Loan Amt O/s Principal Amount Interest @ 9.35% Installment Closing
Opening Balance

1 Apr-24 2,309.00 52.01 17.99 70.00 2,257.00

2 May-24 2,257.00 52.41 17.59 70.00 2,204.58
3 Jun-24 2,204.58 52.82 17.18 70.00 2,151.76
4 Jul-24 2,151.76 53.23 16.77 70.00 2,098.52
5 Aug-24 2,098.52 53.65 16.35 70.00 2,044.88
6 Sep-24 2,044.88 54.07 15.93 70.00 1,990.81
7 Oct-24 1,990.81 54.49 15.51 70.00 1,936.32
8 Nov-24 1,936.32 54.91 15.09 70.00 1,881.41
9 Dec-24 1,881.41 55.34 14.66 70.00 1,826.07
10 Jan-25 1,826.07 55.77 14.23 70.00 1,770.29
11 Feb-25 1,770.29 56.21 13.79 70.00 1,714.09
12 Mar-25 1,714.09 56.64 13.36 70.00 1,657.44
Total 651.56 188.44 840.00
 ( Rs. In '000 )
Year Month Loan Amt O/s Principal Amount Interest @ 9.35% Installment Closing
Opening Balance

1 Apr-25 1,657.44 57.09 12.91 70.00 1,600.36

2 May-25 1,600.36 57.53 12.47 70.00 1,542.83
3 Jun-25 1,542.83 57.98 12.02 70.00 1,484.85
4 Jul-25 1,484.85 58.43 11.57 70.00 1,426.42
5 Aug-25 1,426.42 58.89 11.11 70.00 1,367.53
6 Sep-25 1,367.53 59.34 10.66 70.00 1,308.19
7 Oct-25 1,308.19 59.81 10.19 70.00 1,248.38
8 Nov-25 1,248.38 60.27 9.73 70.00 1,188.11
9 Dec-25 1,188.11 60.74 9.26 70.00 1,127.37
10 Jan-26 1,127.37 61.22 8.78 70.00 1,066.15
11 Feb-26 1,066.15 61.69 8.31 70.00 1,004.46
12 Mar-26 1,004.46 62.17 7.83 70.00 942.28
Total 715.16 124.84 840.00

( Rs. In '000 )
Year Month Loan Amt O/s Principal Amount Interest @ 9.35% Installment Closing
Opening Balance

1 Apr-26 942.28 62.66 7.34 70.00 879.62

2 May-26 879.62 63.15 6.85 70.00 816.48
3 Jun-26 816.48 63.64 6.36 70.00 752.84
4 Jul-26 752.84 64.13 5.87 70.00 688.71
5 Aug-26 688.71 64.63 5.37 70.00 624.07
6 Sep-26 624.07 65.14 4.86 70.00 558.93
7 Oct-26 558.93 65.64 4.36 70.00 493.29
8 Nov-26 493.29 66.16 3.84 70.00 427.13
9 Dec-26 427.13 66.67 3.33 70.00 360.46
10 Jan-27 360.46 67.19 2.81 70.00 293.27
11 Feb-27 293.27 67.71 2.29 70.00 225.55
12 Mar-27 225.55 68.24 1.76 70.00 157.31
Total 784.97 55.03 840.00

( Rs. In '000 )
Year Month Loan Amt O/s Principal Amount Interest @ 9.35% Installment Closing
Opening Balance

1 Apr-27 157.31 68.77 1.23 70.00 88.54

2 May-27 88.54 88.54 0.69 89.23 0.00
3 Jun-27 0.00 0.00 0.00 0.00 0.00
4 Jul-27 0.00 0.00 0.00 0.00 0.00
5 Aug-27 0.00 0.00 0.00 0.00 0.00
6 Sep-27 0.00 0.00 0.00 0.00 0.00
7 Oct-27 0.00 0.00 0.00 0.00 0.00
8 Nov-27 0.00 0.00 0.00 0.00 0.00
9 Dec-27 0.00 0.00 0.00 0.00 0.00
10 Jan-28 0.00 0.00 0.00 0.00 0.00
11 Feb-28 0.00 0.00 0.00 0.00 0.00
12 Mar-28 0.00 0.00 0.00 0.00 0.00
Total 157.31 1.92 159.23