Escolar Documentos
Profissional Documentos
Cultura Documentos
1. INTRODUCTION
2. PROJECT
3. PROMOTERS AND THEIR BACKGROUND
4. PHARMA SECTOR SCENARIO
5. PRODUCTS & PROCESS OF MANUFACTURE
6. LOCATION AND ITS ADVANTAGE
7. PROJECT COST
8. PROFITABILITY PROJECTIONS
INTRODUCTION:
The registered office of the company is situated at Plot No. 8, Pragathi Nagar,
Yousafguda, Hyderabad.
PROJECT:
M/s.Amrutha Chemicals Private Limited is proposing to expand its operations
into Bulk Drug and Intermediates (Pharma APIs) manufacture. It has obtained land
allotment from the Andhra Pradesh Industrial and Infrastructure Corporation
Limited (APIIC Ltd.), Hyderabad for acquiring 8984.56 square meters (about 2.22
acres) land in Plot No. 23 J in APSEZ (De-notified Area), Atchutapuram,
Vishakhapatnam District, Andhra Pradesh. It is proposed to manufacture Omi
Nitro (Bulk Drug Intermediate) and Para Nitro Benzo Phenone (Bulk Drug
Intermediate) to begin with and later diversify into other molecules.
The above promoters are well acquainted with manufacturing and marketing of
chemicals which is used in bulk & Pharma industry. All the directors are
financially sound to invest their margins in the proposed project.
Indian pharma companies have a large chunk of their revenues coming from
exports. While some are focusing on the generics market in the US, Europe and
semi-regulated markets, others are turning their attention to custom
manufacturing for innovator companies. Biopharmaceuticals is also increasingly
becoming an area of interest given the complexity in manufacture and limited
competition.
Market Size
India's drugs and pharmaceuticals industry is expected to grow at a compound
annual growth rate (CAGR) of 14 per cent to reach a turnover of Rs 2.91 trillion
(US$ 47.06 billion) by 2018.
The domestic drugs industry, which is valued at Rs 1.6 trillion (US$ 25.87 billion)
at present, according to Care Ratings, is also expected to grow in the local market
with aggressive rural penetration by drug makers, increased government spending
on health, and growing health awareness among people.
Government Initiatives
The Government of India has unveiled 'Pharma Vision 2020' aimed at making India
a global leader in end-to-end drug manufacture. It has reduced approval time for
new facilities to boost investments. Further, the government has also put in place
mechanisms such as the Drug Price Control Order and the National
Pharmaceutical Pricing Authority to address the issue of affordability and
availability of medicines.
Road Ahead
Indian generic drug makers are exploring all options to get a foot in the door to
Japan's lucrative but difficult-to-crack US$ 111 billion drug industry. The
penetration of generic drugs in Japan, the world's largest drug market after the US
and Europe, is a little more than 30 per cent.
The domestic market will also see a significant growth in sales on the back of
increasing affluence, changing lifestyles resulting in higher incidence of lifestyle-
related diseases, increasing government expenditure on healthcare through
schemes like the Central Government Health Scheme (CGHS), National Programme
for Healthcare of the Elderly (NPHCE), Rashtriya Arogya Nidhi (RAN) and Janani
Suraksha Yojana (JSY) in the next three years, according to Care analysis.
The rise of pharmaceutical outsourcing and investments by multinational
companies (MNCs), allied with the country's growing economy, committed health
insurance segment and improved healthcare facilities, is expected to drive the
market's growth.
PRODUCTS:
1. OMI NITRO
(Intermediate for Omeprozole)
Raw materials :
1) 3,5 Lutidine
2) Acetic Acid
3) Hydrogen peroxide
4) Sulphuric Acid
5) Nitric Acid
6) Ammonia Gas.
Process :
Charge Acetic Acid and 3,5 Ludidine in GLR, add Hydrogen paraxide at 45 0C and
maintain for 8 hrs. Distilled off the total Acetic Acid. Unload the n-oxide in drums.
Charge Sulphuric Acid in SS Reactor add slowly Nitric Acid to Sulphuric Acid,
Charge n-Oxide at 500C, and maintain for 16 hrs at 80 to 850C, then cool to RT.
Charge water in SS Reactor and transper the reaction mass to water RT, Adjust pH
with Ammonia Gas up to 4.0, maintain for 2.0 hrs, centrifuge the product, dry at
45 to 500C.
Flow chart :
Hydrogen Peroxide
n- Oxide
n-Oxide
Nitric Acid
Sulphuric Acid
Nitro Compound
Omi Nitro
Raw Materials :
1) Benzyl Chloride
2) Mono Chloro Benzen
3) Aluminum Chloride
4) Ice.
Process :
Charge Mono Chloro Benzen and Aluminum Chloride in GLR add Benzyl Chloride
at reflex temperature, maintain for 8 hrs.
Charge water and Ice in SS Reactor, transper the mass to reactor, separation the
aqueous layer and give two water washing to organic layer. Distilled off the total
Mono Chloro Benzene below 850C under vacuum. Cool to 50c and centrifuge the
product, dry the product at 90 to 950C.
Flow Chart :
Benzyl Chloride
Reaction Mass
Water Ice
Organic Layer
Boundaries:
North: 30 M Wide Road
East: 30 M Wide Road
South: Plot No. 23
West: Plot No. 23A
Credit Linked Capital Subsidy Scheme (CLCSS) is available from the Government of
India to facilitate Technology Upgradation of SSI units in the specified products /
sub-sectors by providing 15 % capital subsidy for induction of well established and
improved technologies subject a maximum amount of Rs. 15 Lakhs.
MEANS OF FINANCE:
BUILDINGS:
Cost of buildings in about 10000 sft of plinth area @ INR 800/- per sft is estimated
as INR 80 Lakhs.
The total estimated cost of Plant & Machinery is INR 420 Lakhs.
MISCELLANEOUS FIXED ASSETS:
Total 2500000
CONTINGENCIES
A provision of 3% as contingencies for the entire Plant and Machinery, Misc Fixed
Assets and Civil Works i.e., Rs. 15.00 Lakhs. Any over-run in the cost of Project
will be borne by the Promoters from their own sources.
WORKING CAPITAL:
The unit is proposed to be manufacturing of omi nitro and para nitro benzo
phenone. Working capital is required for Raw Material, Finished Goods, WIP and
Sundry Debtors (calculations enclosed separately). The working capital loan is
required is INR 138.00 lakhs.
RAW MATERIALS:
The main raw materials required are detailed below for unit production of the
products:
1. Omi Nitro:
CONSUMABLES:
The following are the main consumables required:
a. Packing Materials
b. Water
c. Water Treatment chemicals
d. Boiler Water Treatment chemicals
e. Other chemicals
MAN POWER:
Apart from the promoters, the total man power requirement of the unit as follows:
Position Category No.
TRANSPORT:
Transportation vehicle agencies are available for supply of finished products to
customers as well as getting of raw materials.
ENVIRONMENTAL POLLUTION:
The unit will obtain pollution control board clearance.
MARKETING:
The products are used in all formulation and bulk drug industries. The Company
plans to establish itself both in domestic and foreign markets. Since the Company's
existing products are known for their quality and competitiveness, reputed
companies like Dr. Reddy's Laboratories Ltd, Ranbaxy Laboratories Ltd, Cadila
Health Care Ltd, Alembic Ltd, Glenmark Laboratories Ltd etc., will be approached
to become regular and permanent customers of the Company. Domestic customers
apart, the Company has plans to establish itself as a reputed supplier in countries
like Spain, Brazil, Switzerland, South Korea, Isreal, Turkey etc.
The Company is taking all measures to explore the vast Pharma market in foreign
countries and is confident of entering the overseas market in the years to come. As
a concrete step in this direction, the Company is planning to obtain recognition
from WHO (World Health Organization) for its current Good Manufacturing
Practices (cGMP) which is a condition precedent to export of products to USA and
European Markets. Further, the Company will initiate steps in the process of
upgrading its manufacturing facilities to obtain USFDA approvals once the plant
construction is initiated. As such the Company does not foresee any impediment to
market its products either in domestic or foreign markets on any account.
PROFITABILITY PROJECTIONS:
ASSUMPTIONS:
S. Particulars Value
No.
1. Capacity Utilization 60% for 1st year; 70% for 2nd year;
and 80% for all other years
2. Number of operating days per year 300
3. Products & Capacity Installed 1. Omi Nitro (360 MTPA)
2. PNBP (192 MTPA)
4. Sale Price, Rs./ kg 1. Omi Nitro: 575 + VAT
2. PNBP: 400 + VAT
INR Lakhs
2016 2017 2018 2019 2020 2021 2022 2023 2024
Description -17 -18 -19 -20 -21 -22 -23 -24 -25
CAPACITY
Capacity Utilization (In %) 60% 70% 80% 80% 80% 80% 80% 80% 80%
Days Operating in Year 300 300 300 300 300 300 300 300 300
5520 5520 5520 5520 5520 5520 5520 5520 5520
Total Capacity (Installed), KGPA 00 00 00 00 00 00 00 00 00
3600 3600 3600 3600 3600 3600 3600 3600 3600
Omi Nitro 00 00 00 00 00 00 00 00 00
1920 1920 1920 1920 1920 1920 1920 1920 1920
PCBP 00 00 00 00 00 00 00 00 00
Product, Rs./ KG
Omi Nitro 604 604 604 604 604 604 604 604 604
PCBP 457 457 457 457 457 457 457 457 457
Product
1304. 1521. 1738. 1738. 1738. 1738. 1738. 1738. 1738.
Omi Nitro 10 45 80 80 80 80 80 80 80
526.1 613.8 701.5 701.5 701.5 701.5 701.5 701.5 701.5
PCBP 8 7 7 7 7 7 7 7 7
Gross Annual Revenue from Sales (INR. 1830 2135 2440 2440 2440 2440 2440 2440 2440
Lakhs) .28 .32 .37 .37 .37 .37 .37 .37 .37
Raw Materials,
KG/KG
Omi Nitro 9.345 9.345 9.345 9.345 9.345 9.345 9.345 9.345 9.345
PCBP 2.500 2.500 2.500 2.500 2.500 2.500 2.500 2.500 2.500
Omi Nitro 490 490 490 490 490 490 490 490 490
PCBP 260 260 260 260 260 260 260 260 260
Omi Nitro 1058.40 1234.80 1411.20 1411.20 1411.20 1411.20 1411.20 1411.20 1411.20
PCBP 299.52 349.44 399.36 399.36 399.36 399.36 399.36 399.36 399.36
TOTAL , INR Lakhs 1357.92 1584.24 1810.56 1810.56 1810.56 1810.56 1810.56 1810.56 1810.56
OTHER MANUFACTURING EXPENSES:
Total , INR Lakhs 9.15 10.68 12.20 12.20 12.20 12.20 12.20 12.20 12.20
Cost 2016- 2017- 2018- 2019- 2020- 2021- 2022- 2023- 2024-
Component 17 18 19 20 21 22 23 24 25
Selling Exp 9.15 10.68 12.20 12.20 12.20 12.20 12.20 12.20 12.20
TOTAL INR
Lakhs 18.30 21.35 24.40 24.40 24.40 24.40 24.40 24.40 24.40
PROFITABILITY PROJECTIONS:
2016- 2017- 2018- 2019- 2020- 2021- 2022- 2023- 2024-
Particulars 17 18 19 20 21 22 23 24 25
Income
Gross Sales 1830.28 2135.32 2440.37 2440.37 2440.37 2440.37 2440.37 2440.37 2440.37
Less Excise Duty 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Less: VAT 91.51 106.77 122.02 122.02 122.02 122.02 122.02 122.02 122.02
1738.7 2028.5 2318.3 2318.3 2318.3 2318.3 2318.3 2318.3 2318.3
Net Sales 6 6 5 5 5 5 5 5 5
Expenditure
Raw materials 1357.92 1584.24 1810.56 1810.56 1810.56 1810.56 1810.56 1810.56 1810.56
Consumables 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00
Power 30.24 35.28 40.32 40.32 40.32 40.32 40.32 40.32 40.32
Fuel 27.00 31.50 36.00 36.00 36.00 36.00 36.00 36.00 36.00
R & M Expenses 8.40 8.82 9.26 9.72 10.21 10.72 11.26 11.82 12.41
Packing Cost 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00
Direct Wages 30.00 33.00 36.30 39.93 43.92 48.32 53.15 58.46 64.31
Other Manufacturing Expenses 9.15 10.68 12.20 12.20 12.20 12.20 12.20 12.20 12.20
1480.7 1721.5 1962.6 1966.7 1971.2 1976.1 1981.4 1987.3 1993.8
Sub Total 1 2 4 4 2 2 9 6 0
Work in Progress
Add Op WIP 0.00 30.85 35.86 40.89 40.97 41.07 41.17 41.28 41.40
Less Cls WIP 30.85 35.86 40.89 40.97 41.07 41.17 41.28 41.40 41.54
1449.8 1716.5 1957.6 1966.6 1971.1 1976.0 1981.3 1987.2 1993.6
Cost of Production 6 0 2 5 2 2 7 4 7
Finished Goods
Add Op Stock 0.00 61.70 71.73 81.78 81.95 82.13 82.34 82.56 82.81
Less Cl Stock 61.70 71.73 81.78 81.95 82.13 82.34 82.56 82.81 83.08
1388.1 1706.4 1947.5 1966.4 1970.9 1975.8 1981.1 1987.0 1993.4
Total Cost of Sales 7 7 7 8 4 1 5 0 0
Contribution 350.60 322.09 370.78 351.87 347.41 342.54 337.20 331.35 324.95
Contribution (%) 20.16% 15.88% 15.99% 15.18% 14.99% 14.78% 14.54% 14.29% 14.02%
Insurance 1.31 1.31 1.31 1.31 1.31 1.31 1.31 1.31 1.31
Fixed Salaries 18.00 19.80 21.78 23.96 26.35 28.99 31.89 35.08 38.58
Management Remuneration 18.00 19.80 21.78 23.96 26.35 28.99 31.89 35.08 38.58
Pre-Expenses Set off 0.00 0.40 0.40 0.40 0.40 0.40 0.00 0.00 0.00
Total Fixed Costs 55.62 62.67 69.68 74.03 78.82 84.09 89.49 95.87 102.89
PBIDT 294.98 259.42 301.10 277.84 268.59 258.44 247.71 235.48 222.07
PBIDT (% of Net Sales) 16.96% 12.79% 12.99% 11.98% 11.59% 11.15% 10.68% 10.16% 9.58%
Interest on TL 69.49 64.39 56.87 48.15 39.40 30.64 21.89 13.13 4.38
Interest on WC 13.20 15.33 17.46 17.52 17.58 17.65 17.73 17.81 17.90
Profit/Loss Before Depr. 212.30 179.71 226.77 212.16 211.61 210.15 208.09 204.54 199.79
Less: Depreciation (SLM) 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75
Profit Before Tax (PBT) 181.55 148.96 196.03 181.42 180.86 179.40 177.35 173.80 169.04
Provision for Tax 43.97 36.97 56.45 54.45 56.80 58.48 59.63 60.01 59.75
Profit After Tax (PAT) 137.58 112.00 139.58 126.96 124.06 120.93 117.71 113.79 109.29
Cash Accruals 168.33 143.14 170.73 158.11 155.20 152.07 148.46 144.53 140.04
PBT/Sales 10.44% 7.34% 8.46% 7.83% 7.80% 7.74% 7.65% 7.50% 7.29%
PAT/Sales 7.91% 5.52% 6.02% 5.48% 5.35% 5.22% 5.08% 4.91% 4.71%
% PAT on Cash Accruals 81.74 78.24 81.76 80.30 79.93 79.52 79.29 78.73 78.05
Cumulative Cash
1096.0 1240.5 1380.6
Accrual 168.33 311.47 482.20 640.31 795.51 947.58 4 7 1
Profit Before Tax (PBT) 181.55 148.96 196.03 181.42 180.86 179.40 177.35 173.80 169.04
Add: Dep-normal 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75
Total 212.30 179.71 226.77 212.16 211.61 210.15 208.09 204.54 199.79
Less: IT Dep 82.95 70.95 60.71 51.96 44.49 38.11 32.65 27.99 24.00
Taxable Profits under
IT Act 129.35 108.76 166.07 160.20 167.12 172.04 175.44 176.55 175.78
Prov. for Tax @33.99% 43.97 36.97 56.45 54.45 56.80 58.48 59.63 60.01 59.75
MAT @ 20.96% 38.05 31.22 41.09 38.03 37.91 37.60 37.17 36.43 35.43
Income Tax payable 43.97 36.97 56.45 54.45 56.80 58.48 59.63 60.01 59.75
DEPRECIATION SLM:
Buildings @ 3.34% 2.96 2.96 2.96 2.96 2.96 2.96 2.96 2.96 2.96
Plant & Machinery @
5.54% 25.82 25.82 25.82 25.82 25.82 25.82 25.82 25.82 25.82
MFA @ 7.07% 1.96 1.96 1.96 1.96 1.96 1.96 1.96 1.96 1.96
Total, INR Lakhs 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75
BUILDINGS
TOTAL DEPRECIATION
INTEREST CALCULATIONS:
INR Lakhs
2015-16
550.00 35.06
2016-17
Commercial Operations
20.00 69.49
2017-18
2018-19
2019-20
68.67 48.15
2020-21
68.67 39.40
2021-22
68.67 30.64
2022-23
68.67 21.89
2023-24
68.67 13.13
2024-25
68.67 4.38
Raw Material 1.00 113.16 132.02 150.88 150.88 150.88 150.88 150.88 150.88 150.88
Power & Fuel,
Spares etc. 1.00 9.23 10.44 11.67 12.01 12.39 12.80 13.24 13.73 14.27
Work in Process 0.25 30.85 35.86 40.89 40.97 41.07 41.17 41.28 41.40 41.54
Finished Goods 0.50 61.70 71.73 81.78 81.95 82.13 82.34 82.56 82.81 83.08
Bills Receivables 0.25 36.22 42.26 48.30 48.30 48.30 48.30 48.30 48.30 48.30
Total Current
Assets (CA) 251.16 292.32 333.52 334.11 334.77 335.48 336.27 337.12 338.06
Less: Sundry
Creditors (CL) 1.00 113.16 132.02 150.88 150.88 150.88 150.88 150.88 150.88 150.88
Working Capital
(CA-CL) 138.00 160.30 182.64 183.23 183.89 184.60 185.39 186.24 187.18
Bank Finance 75.00% 103.50 120.22 136.98 137.43 137.92 138.45 139.04 139.68 140.39
Promoter's Margin 25.00% 34.50 40.08 45.66 45.80 45.97 46.15 46.35 46.56 46.79
Const. 2016 2017 2018 2019 2020 2021 2022 2023 2024
PARTICULARS Period -17 -18 -19 -20 -21 -22 -23 -24 -25
SOURCE OF FUNDS
Own Funds
Capital 144.56 179.06 179.06 179.06 179.06 179.06 179.06 179.06 179.06 179.06
1101.9
Profit & Loss Account 0.00 137.58 249.58 389.16 516.12 640.18 761.11 878.82 992.61 0
1057.8 1171.6 1280.9
Sub-Total 144.56 316.65 428.64 568.22 695.19 819.25 940.17 9 7 7
Sub-Total 530.00 480.00 412.00 343.33 274.67 206.00 137.33 68.67 0.00 0.00
Current Liabilities
Bank Finance - WC 0.00 103.50 120.22 136.98 137.43 137.92 138.45 139.04 139.68 140.39
Repayment due
within one year 20.00 50.00 68.00 68.67 68.67 68.67 68.67 68.67 68.67 0.00
Other Current
Liabilities
Current Liabilities 0.00 113.16 132.02 150.88 150.88 150.88 150.88 150.88 150.88 150.88
Total Current
Liabilities 20.00 266.66 320.24 356.53 356.98 357.47 358.00 358.59 359.23 291.27
TOTAL SOURCE OF 1063.3 1160.8 1268.0 1326.8 1382.7 1435.5 1485.1 1572.2
FUNDS 694.56 1 8 8 3 1 0 4 1530.9 4
APPLICATION OF
FUNDS
Fixed Assets
Gross Block 692.56 692.56 692.56 692.56 692.56 692.56 692.56 692.56 692.56 692.56
Less: Depreciation 0.00 30.75 61.49 92.24 122.98 153.73 184.47 215.22 245.96 276.71
Net Block 692.56 661.82 631.07 600.33 569.58 538.84 508.09 477.34 446.60 415.85
Other Expenditure 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Sub-Total 692.56 661.82 631.07 600.33 569.58 538.84 508.09 477.34 446.60 415.85
Current Assets
Current Assets 0.00 251.16 292.32 333.52 334.11 334.77 335.48 336.27 337.12 338.06
Other current assets 0.00 25.00 35.00 45.00 60.00 78.00 90.00 95.00 97.00
Cash & Bank
Balance 0.00 103.33 137.90 170.04 204.34 235.71 270.93 308.53 344.18 378.32
Sub-Total 0.00 354.49 455.21 538.56 583.45 630.48 684.41 734.80 776.30 813.38
Non Current Asset 0.00 45.00 73.00 128.00 173.00 213.00 243.00 273.00 308.00 343.00
Preliminary Expenses 2.00 2.00 1.60 1.20 0.80 0.40 0.00 0.00 0.00 0.00
TOTAL APPLN. OF 1063.3 1160.8 1268.0 1326.8 1382.7 1435.5 1485.1 1530.9 1572.2
FUNDS 694.56 1 8 8 3 1 0 4 0 4
Depreciation 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75
Current Liabilities 113.16 18.86 18.86 0.00 0.00 0.00 0.00 0.00 0.00
Total A 694.56 419.49 178.72 206.35 158.56 155.69 152.60 149.05 145.17 140.75
B. DISPOSITION
OF FUNDS
Other Expenditure
Repayment of Term
Loan 20.00 50.00 68.00 68.67 68.67 68.67 68.67 68.67 68.67
Increase in Current
assets 251.16 41.15 41.20 0.60 0.65 0.71 0.78 0.86 0.94
Increase in other Current Assets 58.00 15.00 0.00 0.00 0.00 25.00 20.00 15.00
Increase in other Non current
assets 0.00 5.00 55.00 50.00 70.00 65.00 70.00 70.00
Preliminary Expns. 2.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total B 694.56 316.16 144.15 174.20 124.26 124.32 117.38 111.45 109.52 106.61
Surplus A-B 0.00 103.33 34.57 32.14 34.30 31.37 35.22 37.60 35.65 34.14
Opening Balance 0.00 0.00 103.33 137.90 170.04 204.34 235.71 270.93 308.53 344.18
Closing balance 0.00 103.33 137.90 170.04 204.34 235.71 270.93 308.53 344.18 378.32
SALES 1738.76 2028.56 2318.35 2318.35 2318.35 2318.35 2318.35 2318.35 2318.35
VARIABLE
EXPENSES
Cost of Sales 1388.17 1706.47 1947.57 1966.48 1970.94 1975.81 1981.15 1987.00 1993.40
Interest on WC 13.20 15.33 17.46 17.52 17.58 17.65 17.73 17.81 17.90
TOTAL 1401.36 1721.79 1965.04 1984.00 1988.52 1993.46 1998.88 2004.80 2011.30
CONTRIBUTION 337.40 306.76 353.31 334.35 329.83 324.89 319.47 313.54 307.05
Fixed/Semi-variable
Expenses
- Depreciation 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75
- Fixed Costs 55.62 62.67 69.68 74.03 78.82 84.09 89.49 95.87 102.89
- Interest 69.49 64.39 56.87 48.15 39.40 30.64 21.89 13.13 4.38
Sub Total 155.85 157.80 157.29 152.93 148.97 145.48 142.13 139.75 138.01
BEP (Op Cap) 46.19% 51.44% 44.52% 45.74% 45.16% 44.78% 44.49% 44.57% 44.95%
BEP (In Cap) 27.71% 36.01% 35.61% 36.59% 36.13% 35.82% 35.59% 35.66% 35.96%
BE Sales (Operating
Cap) 803.15 1043.49 1032.08 1060.41 1047.08 1038.15 1031.38 1033.30 1042.01
A. COVERAGE
Profit After Tax (PAT) 137.58 112.00 139.58 126.96 124.06 120.93 117.71 113.79 109.29
Depreciation 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75
Interest on term loan 69.49 64.39 56.87 48.15 39.40 30.64 21.89 13.13 4.38
Prel. Expns W/off 0.00 0.40 0.40 0.40 0.40 0.40 0.00 0.00 0.00
TOTAL COVERAGE 237.82 207.53 227.59 206.26 194.60 182.71 170.35 157.66 144.42
B. SERVICE
Term loan Instalment 20.00 50.00 68.00 68.67 68.67 68.67 68.67 68.67 68.67
Interest on term loan 69.49 64.39 56.87 48.15 39.40 30.64 21.89 13.13 4.38
TOTAL SERVICE 89.49 114.39 124.87 116.82 108.06 99.31 90.55 81.80 73.04
DSCR 2.66 1.81 1.82 1.77 1.80 1.84 1.88 1.93 1.98
AVERAGE DSCR
(GROSS) 1.92
A. COVERAGE
Profit After Tax (PAT) 137.58 112.00 139.58 126.96 124.06 120.93 117.71 113.79 109.29
Depreciation 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75
Prel. & Pre.op Expns
W/off 0.00 0.40 0.40 0.40 0.40 0.40 0.00 0.00 0.00
TOTAL
COVERAGE 168.33 143.14 170.73 158.11 155.20 152.07 148.46 144.53 140.04
B. SERVICE
Repayment of Term
Loan 20.00 50.00 68.00 68.67 68.67 68.67 68.67 68.67 68.67
TOTAL SERVICE 20.00 50.00 68.00 68.67 68.67 68.67 68.67 68.67 68.67
DSCR 8.42 2.86 2.51 2.30 2.26 2.21 2.16 2.10 2.04
AVERAGE DSCR
(NET) 2.51
Const. 2016 2017 2018 2019 2020 2021 2022 2023 2024
PARTICULARS Period -17 -18 -19 -20 -21 -22 -23 -24 -25
A. CASH OUTFLOWS
Outflows -729.06
B. CASH INFLOWS
Profit After Tax (PAT) 137.58 112.00 139.58 126.96 124.06 120.93 117.71 113.79 109.29
Depreciation 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75 30.75
Interest on term loan 69.49 64.39 56.87 48.15 39.40 30.64 21.89 13.13 4.38
Prel. & Pre.op Expns 0.00 0.40 0.40 0.40 0.40 0.40 0.00 0.00 0.00
TOTAL ----B 0.00 237.82 207.53 227.59 206.26 194.60 182.71 170.35 157.66 757.94
CASH FLOWS -729.06 237.82 207.53 227.59 206.26 194.60 182.71 170.35 157.66 757.94
INTERNAL RATE OF 28.06
RETURN (IRR) %
Total Variable costs 1037.57 1384.38 1576.80 1614.61 1623.52 1633.27 1643.95 1655.64 1668.45
Contribution 350.60 322.09 370.78 351.87 347.41 342.54 337.20 331.35 324.95
Fixed and Semi Variable
Expenses 55.62 62.67 69.68 74.03 78.82 84.09 89.49 95.87 102.89
Total Expenditure 1443.78 1769.13 2017.25 2040.51 2049.76 2059.91 2070.64 2082.87 2096.28
PBDIT 294.98 259.42 301.10 277.84 268.59 258.44 247.71 235.48 222.07
PBT 181.55 148.96 196.03 181.42 180.86 179.40 177.35 173.80 169.04
PAT 137.58 112.00 139.58 126.96 124.06 120.93 117.71 113.79 109.29
Cumulative Cash Accruals 168.33 311.47 482.20 640.31 795.51 947.58 1096.04 1240.57 1380.61
Cash Surplus 237.82 207.53 227.59 206.26 194.60 182.71 170.35 157.66 757.94
Tangible Net Worth 314.65 427.04 567.02 694.39 818.85 940.17 1057.89 1171.67 1280.97
Term Liabilities 50.00 68.00 68.67 68.67 68.67 68.67 68.67 68.67 0.00
Current Liabilities 266.66 320.24 356.53 356.98 357.47 358.00 358.59 359.23 291.27
Total Outside Liabilities 316.66 388.24 425.19 425.64 426.13 426.66 427.25 427.89 291.27
Net Fixed Assets 661.82 631.07 600.33 569.58 538.84 508.09 477.34 446.60 415.85
Current Assets 354.49 455.21 538.56 583.45 630.48 684.41 734.80 776.30 813.38
Contribution (%) 20.16% 15.88% 15.99% 15.18% 14.99% 14.78% 14.54% 14.29% 14.02%
PBDIT (%) 16.96% 12.79% 12.99% 11.98% 11.59% 11.15% 10.68% 10.16% 9.58%
Interest % Sales 4.76% 3.93% 3.21% 2.83% 2.46% 2.08% 1.71% 1.33% 0.96%
PBT (%) Sales 10.44% 7.34% 8.46% 7.83% 7.80% 7.74% 7.65% 7.50% 7.29%
PAT (%) Sales 7.91% 5.52% 6.02% 5.48% 5.35% 5.22% 5.08% 4.91% 4.71%
Sales/ Total Assets
(Times) 1.64 1.75 1.83 1.75 1.68 1.62 1.56 1.51 1.47
Current Ratio 1.33 1.34 1.41 1.51 1.60 1.69 1.80 1.90 2.46
TOL/TNW 1.01 0.91 0.75 0.61 0.52 0.45 0.40 0.37 0.23
Debt Equity Ratio 1.52 0.96 0.60 0.40 0.25 0.15 0.06 0.00 0.00
B.E.P @ Installed
Capacity 27.71% 36.01% 35.61% 36.59% 36.13% 35.82% 35.59% 35.66% 35.96%
B.E.P @ Operating
Capacity 46.19% 51.44% 44.52% 45.74% 45.16% 44.78% 44.49% 44.57% 44.95%
Return on Capital
Employed 37.03% 30.86% 33.03% 28.65% 26.20% 23.99% 21.99% 20.10% 17.34%
Gross DSCR 2.66 1.81 1.82 1.77 1.80 1.84 1.88 1.93 1.98
Net DSCR 8.42 2.86 2.51 2.30 2.26 2.21 2.16 2.10 2.04