ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM II : OPERATING STATEMENT

M/S AMBAY HANDICRAFTS
AMOUNT IN LACS
AS PER PROFIT & LOSS ACCOUNT ACTUALS/
ESTIMATES FOR THE YEAR ENDED / ENDING
LAST YEAR CURR YEAR FOLLOWING FOLLOWING FOLLOWING
BS ESTIMATES YEAR PROJ. YEAR PROJ. YEAR PROJ.
S. (2) S. (3) S. (4) S. (5) S. (6)
31.03.2023 31.03.2024 31.03.2025 31.03.2026 31.03.2027
1.GROSS SALES
(I) DOMESTIC SALES 304.98 356.47 532.58 614.71 715.79
(ii) EXPORT SALES 0.00 0.00 0.00 0.00 0.00
ADD OTHER REVENUE INCOME 0.00 0.00 2.00 5.00 8.00
TOTAL 304.98 356.47 534.58 619.71 723.79
2.LESS EXCISE DUTY
DEDUCT OTHER ITEMS 0.00 0.00 0.00 0.00 0.00
3.NET SALES(ITEM 1-ITEM 2) 304.98 356.47 534.58 619.71 723.79
4.% AGE RISE(+)OR FALL(-) 100.00% 16.88% 49.40% 15.42% 16.44%
IN NET SALES AS COMPARED TO
PREVIOUS YEAR(ANNUALISED)
5.COST OF SALES
(I) RAW MATERIALS INCLUDING
STORES & OTHER ITEMS USED
IN THE PROCESS OF MANUFACTURE
(A) INDIGENOUS/ IMPORTED 242.62 263.73 515.22 533.26 507.23
(II) OTHER SPARES
(A) IMPORTED 0.00 0.00 0.00 0.00 0.00
(B) INDIGENOUS 0.00 0.00 0.00 0.00 0.00
(III) POWER & FUEL 3.48 0.00 0.00 0.00 0.00
(IV) DIRECT LABOUR 19.90 23.49 35.46 37.93 46.20
(FACTORY WAGES & SALARY)
(V) OTHER MANUFACTURING EXPENSES 5.95 0.00 0.00 0.00 0.00
(VI) DEPRECIATION 2.54 5.55 4.75 4.07 3.48
(VII) SUB-TOTAL (I TO VI) 274.49 292.77 555.43 575.26 556.91
(VIII) ADD: OPENING STOCK IN PROCESS 0.00 0.00 0.00 0.00 0.00

SUB-TOTAL 274.49 292.77 555.43 575.26 556.91

(IX) DEDUCT:CLOSING STOCK IN PROCESS 0.00 0.00 0.00 0.00 0.00

(X) COST OF PRODUCTION 274.49 292.77 555.43 575.26 556.91
(XI) ADD: OPENING STOCK OF FINISHED GOODS 171.43 178.52 160.44 257.61 306.62
SUB- TOTAL 445.92 471.29 715.87 832.87 863.53
(XII) DEDUCT CLOSING STOCK OF
FINISHED GOODS 178.52 164.44 257.61 306.62 253.62
(XIII) SUB-TOTAL (TOTAL COST OF SALES) 267.40 306.85 458.26 526.25 609.91

6. SELLING,GENERAL AND ADMINISTRATIVE

EXPENSES 31.75 38.97 47.29 60.29 72.29
7. SUB-TOTAL (5+6) 299.15 345.82 505.55 586.54 682.20
8. OPERATING PROFIT BEFORE INTEREST (3-7) 5.83 10.65 29.03 33.17 41.59
9. INTEREST 2.25 2.25 13.72 13.86 13.99
10. OPERATING PROFIT AFTER INTEREST (8-9) 3.58 8.40 15.31 19.31 27.60
11. (I) ADD OTHER NON OPERATING INCOME
(A) 0.00 0.00 0.00 0.00 0.00
 (B)
SUB- TOTAL (INCOME) 0.00 0.00 0.00 0.00 0.00
(II) DEDUCT OTHER NON-OPERATING
EXPENSES 0.00 0.00 0.00 0.00 0.00
(A)
(B)
SUB- TOTAL (EXPENSES) 0.00 0.00 0.00 0.00 0.00
(III) NET OF OTHER NON-OPERATING INCOME/
EXPENSES
12. PROFIT BEFORE TAX/LOSS [10+11 (III)] 3.58 8.40 15.31 19.31 27.60

13. PROVISION FOR TAXES 0.00 0.00 0.00 0.00 0.00

14. NET PROFIT/LOSS (12-13) 3.58 8.40 15.31 19.31 27.60

15. (A) EQUITY DIVIDEND PAID AMOUNT 0.00 0.00 0.00 0.00 0.00
(ALREADY PAID+B.S. PROVISION)
(B) DIVIDEND RATE PERCENTAGE 0% 0% 0% 0% 0%

16. RETAINED PROFIT (14-15) 3.58 8.40 15.31 19.31 27.60

17. RETAINED PROFIT/NET PROFIT (PERCENTAGE) 100% 100% 100% 100% 100%
18. GROSS PROFIT 63.50 78.66 114.53 130.46 155.56
19. GROSS PROFIT % 21% 22% 22% 21% 22%
20. NET PROFIT RATIO 1% 2% 3% 3% 4%
 ANALYSIS OF BALANCE SHEET

AS PER BALANCE SHEET AS AT

LIABILITIES LAST YEAR CURR YEAR FOLLOWING FOLLOWING FOLLOWING
BS ESTIMATES YEAR PROJ. YEAR PROJ. YEAR PROJ.
S. (2) S. (3) S. (4) S. (5) S. (6)
CURRENT LIABILITIES 31.03.2023 31.03.2024 31.03.2025 31.03.2026 31.03.2027

1. SHORT TERM BORROWINGS FROM BANKS

(INCLUDING BILLS PURCHASED,DISCOUNTED
& EXCESS BORROWING PLACED ON
REPAYMENT BASIS)
(I) FROM APPLICANT 0.00 0.00 50.00 50.00 50.00
(II) OTHER BANK 136.09 135.00 135.00 135.00 135.00
(III) (OF WHICH BP & BD) 0.00 0.00 0.00 0.00 0.00
SUB-TOTAL (A) 136.09 135.00 185.00 185.00 185.00
2. SHORT TERM BORROWING FROM OTHERS
3. SUNDRY CREDITORS (TRADE) 68.69 37.36 70.82 117.76 109.90
4. ADVANCE PAYMENTS FROM CUSTOMERS/
DEPOSITES FROM DEALERS 0.00 0.00 0.00 0.00 0.00
5. PROVISION FOR TAXATION 0.00 0.00 0.00 0.00 0.00
6. DIVIDEND PAYABLE 0.00 0.00 0.00 0.00 0.00
7. OTHER STATUTORY LIABILITIES 0.00 0.00 0.00 0.00 0.00
( DUE WITH IN ONE YEAR)
8. DEPOSITES/INSTALMENTS OF TERM LOAN/ 0.00 0.00 0.00 0.00 0.00
DPGs/ DEBENTURES, ETC. (EXISTING)
(DUE WITH IN ONE YEAR)
8A. DEPOSITES/INSTALMENTS OF TERM LOAN/ 0.00 0.00 0.00 0.00 0.00
DPGs/ DEBENTURES, ETC. (NEW)
(DUE WITH IN ONE YEAR)
9. OTHER CURRENT LIABILITIES & PROVISIONS 0.27 0.27 0.28 0.28 0.28
(DUE WITH IN ONE YEAR)
(SPECIFY MAJOR ITEMS)

SUB-TOTAL (B) 68.96 37.63 71.10 118.04 110.18

10. TOTAL CURRENT LIABILITIES
(TOTAL OF 1 TO 9 EXCLUDING 1(III) 205.05 172.63 256.10 303.04 295.18

TERM LIABILITIES

11. DEBENTURES (NOT MATURING WITH IN 0.00 0.00 0.00 0.00 0.00
ONE YEAR
12. PREFERENCE SHARES ( REDEEMABLE 0.00 0.00 0.00 0.00 0.00
AFTER ONE YEAR)
13. TERM LOANS(EXCLD INSTALMENTS PAYABLE 0.00 0.00 0.00 0.00 0.00
WITH IN ONE YEAR) (EXISTING)
13A. TERM LOANS(EXCLD INSTALMENTS PAYABLE 0.00 0.00 0.00 0.00 0.00
WITH IN ONE YEAR) (NEW)
14. DEFERRED PAYMENTS CREDITS (EXCLUDING 0.00 0.00 0.00 0.00 0.00
INSTALMENTS DUE WITH IN ONE YEAR)
15. TERM DEPOSITS (REPAYABLE AFTER ONE 0.00 2.87 2.94 3.12 3.87
YEAR)
16. OTHER TERM LIABILITIES 80.47 46.60 43.66 40.54 36.67
17. TOTAL TERM LIABILITIES 80.47 49.47 46.60 43.66 40.54
18. TOTAL OUTSIDE LIABILITIES
(ITEM 10 PLUS ITEM 17) 285.52 222.10 302.70 346.70 335.72

NET WORTH

19. ORDINARY SHARE CAPITAL 70.59 65.93 72.96 91.83 132.45

20. ADDITION 25.99 0.00 5.00 24.00 0.00
21. REVALUATION RESERVE
22. OTHER RESERVES (EXCLUDING PROVISIONS) 0.00 0.00 0.00 0.00 0.00
23. SURPLUS (+) OR DEFICIT (-) IN PROFIT & LOSS
ACCOUNT 3.58 8.40 15.31 19.31 27.60
23 A. OTHERS (SPECIFY) WITHDRAWALS 34.23 1.37 1.44 2.69 14.90
24. NET WORTH 65.93 72.96 91.83 132.45 145.15
25. TOTAL LIABILITIES 351.45 295.06 394.53 479.15 480.87
 FORM III
ANALYSIS OF BALANCE SHEET
AMOUNTS IN LACS
ASSETS LAST YEAR CURR YEAR FOLLOWING FOLLOWING FOLLOWING
BS ESTIMATES YEAR PROJ. YEAR PROJ. YEAR PROJ.
S. (2) S. (3) S. (4) S. (5) S. (6)
CURRENT ASSETS 31.03.2023 31.03.2024 31.03.2025 31.03.2026 31.03.2027
26. CASH & BANK BALANCES 2.33 3.40 5.74 6.31 6.95
27. INVESTMENTS(OTHER THAN LONG TERM
INVESTMENTS)
(I) GOVERNMENT & OTHER TRUSTEE 0.00 0.00 0.00 0.00 0.00
SECURITIES
(ii) FIXED DEPOSITS WITH BANKS 0.00 0.00 0.00 0.00 0.00
(ii) OTHERS 0.00 0.00 0.00 0.00 0.00
28. (i) RECEIVABLES OTHER THAN DEFRRED &
EXPORTS (INCLD BILLS PURCHASED AND 107.93 92.39 82.86 116.12 159.68
DISCOUNTED BY BANKS)
(ii) EXPORT RECEIVABLES (INCLD BILLS 0.00 0.00 0.00 0.00 0.00
PURCHASED AND DISCOUNTED BY BANKS
29. INSTALMENTS OF DEFERRED RECEIVABLE 0.00 0.00 0.00 0.00 0.00
(DUE WITH IN ONE YEAR)
30. INVENTORY:
(I) RAW MATERIALS (INCLUDING STORES AND 0.00 0.00 0.00 0.00 0.00
OTHER ITEMS USED IN THE PROCESS OF
MANUFACTURE)
a.) IMPORTED 0.00 0.00 0.00 0.00 0.00
b.) INDIGENOUS 0.00 0.00 0.00 0.00 0.00
(ii) STOCKS IN PROCESS 0.00 0.00 0.00 0.00 0.00
(iii) FINISHED GOODS 178.52 164.44 257.61 306.62 253.62
(iv) OTHER CONSUMABLE SPARES
a.) IMPORTED 0.00 0.00 0.00 0.00 0.00
b.) INDIGENOUS 0.00 0.00 0.00 0.00 0.00
31. ADVANCES TO SUPPLIERS OF RAW
MATERIALS & STORES/SPARES 0.00 0.00 0.00 0.00 0.00
32. ADVANCE PAYMENTS OF TAXES 0.00 0.00 0.00 0.00 0.00
33. OTHER CURRENT ASSETS(SPECIFY MAJOR 1.23 1.25 19.50 25.35 39.35
ITEMS)
34. TOTAL CURRENTS ASSETS 290.01 261.48 365.71 454.40 459.60
( TOTAL 0F 26 TO 33)

FIXED ASSETS

35. GROSS BLOCKS (LAND & BUILDING 19.29 39.13 33.57 28.82 24.75
MACHINERY,WORK IN PROGRESS)
36. DEPRECIATION TO DATE 2.54 5.55 4.75 4.07 3.48
37. NET BLOCK (35-36) 16.75 33.58 28.82 24.75 21.27
OTHER NON- CURRENT ASSETS
38. INVESTMENTS/BOOK DEBTS/ADVANCE/
DEPOSIT WHICH ARE NOT CURRENT ASSETS
(I) (a) INVESTMENT IN SUBSIDIARY
 COMPAINIES/AFFILIATES 0.00 0.00 0.00 0.00 0.00
(b) OTHERS 0.00 0.00 0.00 0.00 0.00
(ii) ADVANCE TO SUPPLIERS OF CAPITAL
GOODS & CONTRACTORS 0.00 0.00 0.00 0.00 0.00
(iii) DEFFERED RECEIVABLE(MATURITY 0.00 0.00 0.00 0.00 0.00
EXCEEDING ONE YEAR)
(iv) OTHERS (SECURITY & SUBSIDY) 0.00 0.00 0.00 0.00
39. NON-CONSUMABLE STORES & SPARES 0.00 0.00 0.00 0.00 0.00
40. OTHER NON-CURRENT ASSETS (INCLUDING 44.69 0.00 0.00 0.00 0.00
DUES FROM DIRECTORS)
41. TOTAL OTHER NON-CURRENT ASSETS 44.69 0.00 0.00 0.00 0.00
(TOTAL OF/38 TO 40)
42. INTANGIBLE ASSETS (PATENTS,GOODWILL
PRELIM. EXPENSES,BAD/DOUBTFUL DEBTS 0.00 0.00 0.00 0.00 0.00
NOT PROVIDED FOR ETC.
43. TOTAL ASSETS ( TOTAL OF 34,37,41,& 42) 351.45 295.06 394.53 479.15 480.87
44. TANGIBLE NET WORTH (24-42) 65.93 72.96 91.83 132.45 145.15
45. NET WORKING CAPITAL [(17+24)-(37+41+42)]
TO TALLY WITH (34-10) 84.96 88.85 109.61 151.36 164.42
46. CURRENT RATIO (34/10) 1.41 1.51 1.43 1.50 1.56
47. TOTAL OUTSIDE LIABILITIES /TANGIBLE NET
WORTH (18/44) 4.33 3.04 3.30 2.62 2.31
48. TERM LIAB./NET WORTH 1.22 0.68 0.51 0.33 0.28
ADDITIONAL INFORMATION
(A) ARREARS OF DEPRECIATION 0.00 0.00 0.00 0.00 0.00
(B) CONTINGENT LIABILITIES: 0.00 0.00 0.00 0.00 0.00
(I) ARREARS OF CUMULATIVE DIVIDENDS 0.00 0.00 0.00 0.00 0.00
(ii) GRAUITY LIABILITIES NOT PROVIDED FOR 0.00 0.00 0.00 0.00 0.00
(iii) DISPUTED EXCISE/CUSTOMS/TAX LIABILITIES 0.00 0.00 0.00 0.00 0.00
(iv) OTHER LIABILITIES NOT PROVIDED FOR 0.00 0.00 0.00 0.00 0.00
 COMPRATIVE STATEMENT OF CURRENT ASSETS &
CURRENT LIABILITIES
AMOUNT RS. IN LACS
AS PER BALANCE SHEET AS AT
LAST YEAR CURR YEAR FOLLOWING FOLLOWING FOLLOWING
BS ESTIMATES YEAR PROJ. YEAR PROJ. YEAR PROJ.
S. (2) S. (3) S. (4) S. (5) S. (6)
A. CURRENT ASSETS 31.03.2023 31.03.2024 31.03.2025 31.03.2026 31.03.2027
(1) RAW MATERIALS STORES & OTHER ITEMS
USED IN THE PROCESS OF MANUFACTURER
(a) IMPORTED:
MONTH'S CONSUMPTION 0.00 0.00 0.00 0.00 0.00
(b) INDIGENOUS:
MONTH'S CONSUMPTION 0.00 0.00 0.00 0.00 0.00
(2) OTHER CONSUMABLE SPARES,EXCLUDING
THOSE INCLUDED IN 1 ABOVE
(a) IMPORTED: 0.00 0.00 0.00 0.00 0.00
MONTH'S CONSUMPTION
(b) INDIGENOUS:
MONTH'S CONSUMPTION 0.00 0.00 0.00 0.00 0.00
(3) STOCKS IN PROCESS:
MONTHS COST OF PRODUCTION 0.00 0.00 0.00 0.00 0.00
(4) FINISHED GOODS:
MONTHS'COST OF SALES: 178.52 164.44 257.61 306.62 253.62
(5) RECEIVABLE OTHER THAN EXPORT &
DEFERRED RECEIVABLE(INCLDG.BILLS
PURCHASED & DISCOUNTED BY BANKERS
MONTH' DOMESTICS SALES : EXCLUDING 107.93 92.39 82.86 116.12 159.68
DEFERRED PAYMENT SALES :
(6) EXPORT RECEIVABLE (INCLDG.BILLS
PURCHASED & DISCOUNTED ) 0.00 0.00 0.00 0.00 0.00
MONTHS' EXPORT SALES :
(7) ADVANCES TO SUPPLIERS OF RAW
MATERIALS & STORES /SPARES, 0.00 0.00 0.00 0.00 0.00
CONSUMABLES.
(8) OTHER CURRENT ASSETS INCL. CASH & 3.56 4.65 25.24 31.66 46.30
BANK BALANCE & DEFERRED RECEIVABLE
DUE WITH IN ONE YEAR(SPECIFY MAJOR
ITEMS) 0.00 0.00 0.00 0.00 0.00
(9) TOTAL CURRENT ASSETS ( TO AGREE WITH
ITEMS 34 IN FORM III) 290.01 261.48 365.71 454.40 459.60
B. CURRENT LIABILITIES
(OTHER THAN BANK BORROWINGS FOR
WORKING CAPITAL)
(10) CREDITORS FOR PURCHASE OR RAW
MATERIALS,STORES & CONSUMABLE
SPARES MONTHS' PURCHASE. 68.69 37.36 70.82 117.76 109.90
(11) ADVANCE FORM CUSTOMERS 0.00 0.00 0.00 0.00 0.00
(12) STATUTORY LIABILITIES 0.00 0.00 0.00 0.00 0.00
(13) OTHER CURRENT LIABILITIES (SPECIFY
MAJOR ITEMS) SHORT TERM BORROWINGS
UNSECURED LOANS,DIVIDEND(PAYABLE, 0.27 0.27 0.28 0.28 0.28
INSTALMENTS OF TL DPG,PUBLIC
DEPOSITS, DEBENTURES,ETC.
(14) TOTAL ( TO AGREE WITH SUB TOTAL 68.96 37.63 71.10 118.04 110.18
B-FORM III)
 FORM V
COMPUTATION OF MAXIMUM PERMISSIBLE
BANK FINANCE FOR WORKING CAPITAL
AMOUNT RS. IN LACS.
AS PER BALANCE SHEET AS AT
LAST YEAR CURR YEAR FOLLOWING FOLLOWING FOLLOWING
BS ESTIMATES YEAR PROJ. YEAR PROJ. YEAR PROJ.
S. (2) S. (3) S. (4) S. (5) S. (6)
31.03.2023 31.03.2024 31.03.2025 31.03.2026 31.03.2027
1. TOTAL CURRENT ASSETS
( 9 IN FORM IV ) 290.01 261.48 365.71 454.40 459.60

2. OTHER CURRENT LIABILITIES (OTHER THAN

BANK BORROWING) ( 14 OF FORM IV ) 68.96 37.63 71.10 118.04 110.18

3. WORKING CAPITAL GAP (WCG) (1-2) 221.05 223.85 294.61 336.36 349.42

4. MIN. STIPULATED NET WORKING CAPITAL

i.e 25% OF WCG/25% OF TOLD CURRENT
ASSETS AS THE CASE MAY BE DEPENDING 55.26 55.96 73.65 84.09 87.35
UPON THE METHOD OF LENDING BEING
APPLIED. (EXPORT RECEIVABLES TO BE
EXCLUEDED UNDER BOTH METHODS)

5. ACTUAL/PROJECTED NET WORKING CAPITAL 84.96 88.85 109.61 151.36 164.42

( 45 IN FORM III )

6. ITEM 3 MINUS ITEM 4 165.79 167.89 220.96 252.27 262.07

7. ITEM 3 MINUS ITEM 5 136.09 135.00 185.00 185.00 185.00

8. MAXIMUM PREMISSIBLE BANK FINANCE 136.09 135.00 185.00 185.00 185.00

( ITEM 6 OR 7 WHICHEVER IS LOWER )

9. EXCESS BORROWINGS REPESENTING 0.00 0.00 0.00 0.00 0.00

SHORT FALL IN NWC ( 4-5 )
 M/S AMBAY HANDICRAFTS
CALCULATION OF IMPORTANT RATIOS

PARTICULARS / YEAR ENDING LAST YEAR CURR YEAR FOLLOWING FOLLOWING FOLLOWING
BS ESTIMATES YEAR PROJ. YEAR PROJ. YEAR PROJ.

CURRENT RATIO 1.41 1.51 1.43 1.50 1.56

TOL / TNW 4.33 3.04 3.30 2.62 2.31
DEBT EQUITY RATIO 1.22 0.68 0.51 0.33 0.28
NET PROFIT RATIO (IN %) 1.17 2.36 2.87 3.14 3.86
RETURN ON CAPITAL EMPLOYED (IN %) 3.98 8.70 20.97 18.83 22.40
STOCK TURNOVER RATIO (IN TIMES) 1.50 1.87 1.78 1.72 2.40
DEBTORS TURNOVER RATIO (IN TIMES) 2.83 3.86 6.45 5.34 4.53
GROSS PROFIT RATIO (IN %) 21 22 22 21 22

Average DSCR (Calculation Attached) 2.07

M/S AMBAY HANDICRAFTS

CALCULATION OF DSCR
(Amount Rs. in Lacs)
Sources/Year 31-03-2023 31-03-2024 31-03-2025 31-03-2026 31-03-2027

Profit After Tax 3.58 8.40 15.31 19.31 27.60

Add: Depreciation 2.54 5.55 4.75 4.07 3.48
Add: Intt on T/L 2.25 2.25 13.72 13.86 13.99

Total "A" 8.37 16.20 33.78 37.24 45.07

Uses

Repayment of T/L 0.00 0.00 0.00 0.00 0.00

Intt on T/L 2.25 2.25 13.72 13.86 13.99

Total "B" 2.25 2.25 13.72 13.86 13.99

DSCR 3.72 7.2 2.46 2.69 3.22

Average DSCR= "A"/"B"= 2.07