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Critical Parameters for estimating Cost of Heat & Power Generation

For M/s Hanuman Agro Industries Limited

Particulars Parameters
Capacity 2.50
Project Cost (PC) 1218.41
Debt 66%
Equity 34%
Debt-Equity Ratio 1.91
Debt amount 800.00
Equity amount 418.41
Debt Repayment 5
Payment term 20
Interest Rate 11.5%
Interest on Working Capital Loan 11%
Plant Load Factor (PLF)
- First Year 80%
- Second Year onwards 90%
Auxiliary Consumption 12%
Boiler Configuration
Capacity 22.00
Pressure 44
Temprature 450+ 5
Steam Enthlapy 794.00
Feed Water Temprature 105.00
Boiler Efficiency 82.0%
Fuel Related Information
Biomass
Gross Calorific Value (GVC) 3250
Specific Fuel Consumption 2.28
Fuel Cost 950
Fuel Cost escalation 5%
Coal
Gross Calorific Value (GVC) 3800
Specific Fuel Consumption 1.95
Fuel Cost 1100
Fuel Cost escalation 5%
Operation & Maintenance Cost
- Salary & wages 34.50
- Repairs & Maintenance
- First Year 0.50%
- Second Year onwards 1%
- Other Administrative Overheads 6.00
Operation & Maintenance Escalation 5%
Depreciation Rate as per Companies Act, 1956
- on Building & Civil Construction 3.34%
- on Plant & Machinery & Other Fixed Assets 5.28%
Depreciation Rate as per Income Tax Act
- on Building & Civil Construction 10.00%
- on Plant & Machinery & Other Fixed Assets 15.00%
Working Capital Schedule
Fuel & Stores 3
O&M expenditure 1
Receivables 1
MAT % 7.84%
Power Generation

Units
MW
Rs. Lacs

Rs. Lacs
Rs. Lacs
Years
months
on monthly rest
on monthly rest

TPH
kg/ata
0
C
Kcal
0
C

Kcal/kg
kg/kWh
Rs/MT

Kcal/kg
kg/kWh
Rs/MT

Lacs per annum

of Gross Block
of Gross Block
Lacs per annum
per annum

WDV
WDV

WDV
WDV

months
month
months
on Net Profit
Power Project/AIDCPL/Sarguja

Financial Annexure-I

COST OF PROJECT & MEANS OF FINANCE

COST (Rs. in lacs)


Existing Proposed Total
1 Land 0.00 0.00
2 Land and Site Development 0.00 0.00
3 Building 162.59 162.59
4 Plant & Machinery & Electricals 995.00 995.00
5 Misc. Fixed Assets 0.00 0.00
6 Prelimnary Expenses 0.00 0.00
7 Pre-operative Expenses 60.82 60.82
8 Contingency 0.00 0.00
Capital Cost 1218.41 1218.41
9 Working Capital 144.66 144.66
Total 1363.07 1363.07

MEANS OF FINANCE (Rs. in lacs)


Existing Proposed Total
1 Equity Capital (plus resrves) 284.95 284.95
2 Unsecured Loan 178.11 178.11
3 Term Loan 800.00 800.00
4 Working Capital Loan 100.00 100.00
Total 1363.07 1363.07

Assuming Interest free Usl as Quasi equity


Promoters Contribution 34% 34%
Debt Component 66% 66%
Debt Equity Ratio (Assuming Interest free Usl as Quasi equity) 1.73 1.73

Cost of Proejct MP PP Total


Capital Cost 316 1000 1316
Prelimnery & Preop Expenses 26.17 82.83 109
Total 342.17 1082.83 1425

Means of Finance MP PP Total


Equity 90.0 285.0 375
Term Loan 250 800 1050
Total 340.05 1084.95 1425

Prepared By : SRCCL 1
Power Project/AIDCPL/Sarguja

Technical Annexure-II

Land and Site Development

(Rs. In Lac)
Particulars Size Rate Amount
Leveling of Land 2 acres Rs 0.50 Lacs per acre 150000 3.3
Land Scaping L.S.
Drain Line Work L.S.
Tube Well L.S.
TOTAL 0.00

Technical Annexure-III

ARORA INFRASTRUCTURE DEVELOPMENT COMPANY PRIVATE LIMITED

Buildings

(Rs. In Lac)
Particulars Size Rate per Unit (Rs.) Amount
Boiler House 560 Sq.Mt. 4200.00 23.52 560
Turbine House 480 Sq.Mt. 4200.00 20.16 480
Deaerator Building 240 Sq.Mt. 4000.00 9.60 240
Foundations LS 80.00
Cooling Tower 240 Sq. Mt. 3600.00 8.64 240
Water Storage Tanks 162 Sq. Mt. 3500.00 5.67 162
Misc. Construction 15.00

TOTAL 162.59

Technical Annexure-IV

Plant & Machinery & Electricals

(Rs. In Lac)
S. No. Particulars Supplier Cost 992.55
1 2.5 MW Power Generating Plant complete 965.00
As per attached List including
Taxes & Duties @

Erection,Testing & commissioning LS 30.00

TOTAL 995.00

Technical Annexure-V

Misc. Fixed Assets

S. No. Particulars Cost


1 Furniture's Fixtures
2 Office Equipments, Computers
3 Lab Equipments
3 First Aid Box, fire Fighting Machine etc.
4 Vehicles for conveyance
5 Air Conditioning
6 General Lighting etc
TOTAL 0.00

Premilary & Pre-operative Expenses

S. No. Particulars Cost

1 Establishment Expenses 10.00


2 Interest During Construction Period 36.85 36.857143
3 Legal Mortgage Expenses 1.00
4 Up-front Fees 5.00
6 Traveling Expenses 5.00 84.828772
7 Insurance 0.97
8 Start up expenses 1.00
9 Misc. Expenses 1.00
TOTAL 60.82

S. No. Particulars Cost % of Total


1 Equity - Share Capital 284.95 23%
2 Unsecured Loans 178.11 14%
3 Term Loan 800.00 63%
TOTAL 1263.07 100.00%

Prepared By : SRCCL 5
Power Project/AIDCPL/Sarguja

Financial Annexure-V

HANUMAN AGRO INDUSTRIES LTD.

PROJECTED BALANCE SHEET

Description/Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Capital 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95 284.95
Reserves & Surplus(PAT) 21.13 81.70 155.92 242.17 339.31 441.30 539.62 633.09 720.96 801.80 874.59 938.32 992.36 1035.38 1066.37 1088.43 1101.02 1102.89 1087.32 1051.57
Secured Loan(Term Loan) 800.00 640.00 480.00 320.00 160.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Unsecured Loan 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11 178.11
Other Current Liabiliiltes
Working Capital Loan 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 101.00
1263.07 1224.20 1124.77 1038.99 965.24 902.38 1004.37 1102.69 1196.16 1284.02 1364.87 1437.66 1501.39 1555.43 1598.45 1629.44 1651.50 1664.09 1665.96 1650.38 1615.63
ASSETS
Gross Fixed Assets 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41 1218.41
Less Total Depreeciation 174.20 323.13 450.49 559.44 652.67 732.48 800.82 859.37 909.54 952.55 989.45 1021.11 1048.28 1071.63 1091.69 1108.93 1123.77 1136.54 1147.53 1157.01
Net Fixed Assets 1218.41 1044.20 895.27 767.91 658.96 565.73 485.93 417.58 359.04 308.87 265.85 228.96 197.30 170.12 146.78 126.72 109.47 94.64 81.87 70.87 61.40
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Stocks 98.96 113.28 118.94 124.89 130.89 137.43 144.31 151.52 158.86 166.80 175.14 183.90 192.85 202.50 212.62 223.25 234.17 245.88 258.18 271.09
Receivables 41.82 47.52 47.99 48.47 48.96 49.44 49.94 50.44 50.94 51.45 51.97 52.49 53.01 53.54 54.08 55.16 56.26 57.39 58.53 59.71
Other Current Assets 3.88 4.56 4.79 5.03 5.28 5.54 5.82 6.11 6.42 6.74 7.07 7.43 7.80 8.19 8.60 9.03 9.48 9.95 10.45 10.97
Cash & Blank Balance 44.66 35.33 64.14 99.36 127.89 151.52 326.02 485.04 629.05 758.94 874.03 974.52 1060.28 1131.65 1187.44 1227.43 1254.59 1269.54 1270.87 1252.35 1212.47
Misc Fixed Assets
1263.07 1224.20 1124.77 1038.99 965.24 902.38 1004.37 1102.69 1196.16 1284.02 1364.87 1437.66 1501.39 1555.43 1598.45 1629.44 1651.50 1664.09 1665.96 1650.38 1615.63

(Assumption - Cash accumulation will be available with the company for taking up for expansion projects.)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

CASH FLOW STATEMENT


Financial Annexure-III

CASH FLOW STATEMENT

Description/Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

INFLOW 1263.07 295.33 209.50 201.59 195.19 190.37 181.80 166.66 152.01 138.04 123.86 109.69 95.39 81.22 66.36 51.05 39.31 27.43 14.63 (4.58) (25.27)

Increase in Share Capital 284.95


Cash inflow 195.33 209.50 201.59 195.19 190.37 181.80 166.66 152.01 138.04 123.86 109.69 95.39 81.22 66.36 51.05 39.31 27.43 14.63 (4.58) (26.27)
Increase in Term Loan 800.00
Increase in Unsecured Loan 178.11
Increase in C.L.
Increase in W.C. Loan 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.00
Decrease in Fixed Asset
Increase In Investment
Decrease in Receivables

OUTFLOW 1218.41 304.66 180.69 166.37 166.67 166.74 7.30 7.64 8.01 8.15 8.77 9.19 9.63 9.85 10.56 11.07 12.14 12.48 13.31 13.94 14.60

Increase in Fixed Asset 1218.41


Decrease in Depreciation
Increase in Investment
Increase in WC 144.66 20.69 6.37 6.67 6.74 7.30 7.64 8.01 8.15 8.77 9.19 9.63 9.85 10.56 11.07 12.14 12.48 13.31 13.94 14.60
Decrease in Share Capital
Decrease Res. & Surplus
Decrease in Term Loan 160.00 160.00 160.00 160.00 160.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Decrease in Unsecured Loan
Decurease in Other C.L.
Decrease in W.C.Loan

Surplus(Deficit) 44.66 (9.33) 28.81 35.22 28.53 23.63 174.50 159.02 144.01 129.89 115.09 100.50 85.76 71.37 55.79 39.98 27.16 14.95 1.32 (18.51) (39.88)
Op.Balance - Cash/Bank 0.00 44.66 35.33 64.14 99.36 127.89 151.52 326.02 485.04 629.05 758.94 874.03 974.52 1060.28 1131.65 1187.44 1227.43 1254.59 1269.54 1270.87 1252.35
Clo.Balance of Cash/Bank 44.66 35.33 64.14 99.36 127.89 151.52 326.02 485.04 629.05 758.94 874.03 974.52 1060.28 1131.65 1187.44 1227.43 1254.59 1269.54 1270.87 1252.35 1212.47

Financial Annexure-II

HANUMAN AGRO INDUSTRIES LTD.

Projections of Performance, Profitability and Repayment

Description/Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Installed Capacity (2.5 MW)
Power Net Generating Capacity (in Lac 139.392 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816
(after axiliary consumption) Units)
(Capacity Utilisation - %) 80% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90%
Revenue from power Generation 501.81 570.18 575.88 581.64 587.46 593.33 599.27 605.26 611.31 617.43 623.60 629.84 636.14 642.50 648.92 661.90 675.14 688.64 702.41 716.46
Other Income -Sale of Ash
Total Revenue 501.81 570.18 575.88 581.64 587.46 593.33 599.27 605.26 611.31 617.43 623.60 629.84 636.14 642.50 648.92 661.90 675.14 688.64 702.41 716.46

Production Cost

Raw Material - Biomass 335.35 384.82 404.06 424.26 445.48 467.75 491.14 515.69 541.48 568.55 596.98 626.83 658.17 691.08 725.63 761.92 800.01 840.01 882.01 926.11
- Coal 56.54 63.61 66.79 70.12 73.63 77.31 81.18 85.24 89.50 93.97 98.67 103.61 108.79 114.23 119.94 125.93 132.23 138.84 145.78 153.07
- Chemcials 3.96 4.68 4.91 5.16 4.46 4.68 4.91 5.16 4.46 4.68 4.91 5.16 4.46 4.68 4.91 5.16 4.46 4.68 4.91 5.16
Salaries & Wages 5% 34.50 36.23 38.04 39.94 41.93 44.03 46.23 48.54 50.97 53.52 56.20 59.01 61.96 65.05 68.31 71.72 75.31 79.07 83.03 87.18
Repairs & Maintenance Charge 5% 6.09 12.18 12.79 13.43 14.10 14.81 15.55 16.33 17.14 18.00 18.90 19.85 20.84 21.88 22.97 24.12 25.33 26.60 27.93 29.32
Depreciation 174.20 148.93 127.36 108.95 93.23 79.81 68.34 58.54 50.17 43.01 36.89 31.66 27.18 23.34 20.06 17.25 14.84 12.77 11.00 9.47

Cost of Production 610.65 650.44 653.95 661.86 672.83 688.39 707.35 729.51 753.72 781.74 812.56 846.10 881.39 920.26 961.82 1006.10 1052.17 1101.97 1154.66 1210.32
Less : cost of steam to Paper Devision 244.26 260.18 261.58 264.75 269.13 275.36 282.94 291.80 301.49 312.70 325.02 338.44 352.55 368.10 384.73 402.44 420.87 440.79 461.86 484.13
Cost of Sales 366.39 390.26 392.37 397.12 403.70 413.03 424.41 437.70 452.23 469.04 487.53 507.66 528.83 552.16 577.09 603.66 631.30 661.18 692.79 726.19

Administrative Expenses 6.00 6.30 6.62 6.95 7.29 7.66 8.04 8.44 8.86 9.31 9.77 10.26 10.78 11.31 11.88 12.47 13.10 13.75 14.44 15.16

Total Cost 372.39 396.56 398.98 404.06 410.99 420.69 432.45 446.15 461.10 478.35 497.31 517.92 539.61 563.47 588.97 616.13 644.40 674.93 707.23 741.35

PBIT 129.42 173.62 176.90 177.58 176.47 172.64 166.82 159.11 150.22 139.07 126.29 111.91 96.53 79.03 59.95 45.77 30.74 13.71 -4.82 -24.89
Interest
Interest on TL 85.13 66.73 48.33 29.93 11.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on W/C 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.86

PBT 33.54 96.14 117.82 136.90 154.19 161.89 156.07 148.36 139.47 128.32 115.54 101.16 85.78 68.28 49.20 35.02 19.99 2.96 -15.57 -35.75

Tax 12.41 35.57 43.59 50.65 57.05 59.90 57.74 54.89 51.60 47.48 42.75 37.43 31.74 25.26 18.20 12.96 7.40 1.09 0.00 0.00

PAT 21.13 60.57 74.23 86.25 97.14 101.99 98.32 93.47 87.86 80.84 72.79 63.73 54.04 43.01 30.99 22.06 12.59 1.86 -15.57 -35.75

Add Depreciation 174.20 148.93 127.36 108.95 93.23 79.81 68.34 58.54 50.17 43.01 36.89 31.66 27.18 23.34 20.06 17.25 14.84 12.77 11.00 9.47
Add Prelimnary Exp. Written off 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Cash Profit 195.33 209.50 201.59 195.19 190.37 181.80 166.66 152.01 138.04 123.86 109.69 95.39 81.22 66.36 51.05 39.31 27.43 14.63 -4.58 -26.27
Cumulative Profit 21.13 81.70 155.92 242.17 339.31 441.30 539.62 633.09 720.96 801.80 874.59 938.32 992.36 1035.38 1066.37 1088.43 1101.02 1102.89 1087.32 1051.57
Cumulative Depreciation 174.20 148.93 127.36 108.95 93.23 79.81 68.34 58.54 50.17 43.01 36.89 31.66 27.18 23.34 20.06 17.25 14.84 12.77 11.00 9.47
Profit after Tax 21.13 60.57 74.23 86.25 97.14 101.99 98.32 93.47 87.86 80.84 72.79 63.73 54.04 43.01 30.99 22.06 12.59 1.86 -15.57 -35.75
Depreciation 174.20 148.93 127.36 108.95 93.23 79.81 68.34 58.54 50.17 43.01 36.89 31.66 27.18 23.34 20.06 17.25 14.84 12.77 11.00 9.47
Prelimnary Exp. Written off 0.00 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00
Interest on Term Loan 85.13 66.73 48.33 29.93 11.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total A 280.47 276.23 249.92 225.13 201.90 182.80 168.66 155.01 142.04 128.86 115.69 102.39 89.22 75.36 61.05 50.31 39.43 27.63 9.42 -11.27

Repayment of Term Loan 160.00 160.00 160.00 160.00 160.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on Term Loan 85.13 66.73 48.33 29.93 11.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Total B 245.13 226.73 208.33 189.93 171.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

DSCR (A/B) 1.14 1.22 1.20 1.19 1.18

DSCR Average (Simple) 1.18

Generation Cost 3.36 3.02 2.92 2.84 2.76 2.75 2.83 2.91 3.01 3.12 3.24 3.37 3.51 3.66 3.82 4.00 4.18 4.37 4.58

Techncial Annexure-VII

SALE OF POWER

Installed Capacity 2.5 MW


Less PLF/Auxiliary 0.3 12%
Net Saleable Power 2.2 MW
No. of working days in a year 330 Days
No.of working Hours per 24 Hours
Available Power sale 174.24 Lacs Units

Description/Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Sale Price of the Power 3.60 3.64 3.67 3.71 3.75 3.78 3.82 3.86 3.90 3.94 3.98 4.02 4.06 4.10 4.14 4.22 4.31 4.39 4.48 4.57
Power Sales Realisation Units in Lacs
Power production for sale 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24 174.24
Capacity Utilisation 80% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90%
Power available for sale 139.392 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816 156.816
Net Power Sales realisa 501.81 570.18 575.88 581.64 587.46 593.33 599.27 605.26 611.31 617.43 623.60 629.84 636.14 642.50 648.92 661.90 675.14 688.64 702.41 716.46

Financial Annexure-IV

HANUMAN AGRO INDUSTRIES LTD.

COMPUTATION OF NPV, IRR & PAYBACK PERIOD

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Cash Out Flow 1218.41


Cash inflow including 195.33 209.50 201.59 195.19 190.37 181.80 166.66 152.01 138.04 123.86 109.69 95.39 81.22 66.36 51.05 39.31 27.43 14.63 (4.58) (26.27)
Selvage Value of Plant
Net Cash Flow (1218.41) 195.33 209.50 201.59 195.19 190.37 181.80 166.66 152.01 138.04 123.86 109.69 95.39 81.22 66.36 51.05 39.31 27.43 14.63 (4.58) (26.27)
IRR 10.59%

7 Prepared By : SRCCL
Power Project/AIDCPL/Sarguja

RAW-MATERIAL

Project Baseline
Daily Steam Requirement 9 TPD
Operating Hours per day 24 Hours
Steam pressure required for process 10.5 Kg/cm2 Steam Enthalpy
Steam Temperature 180 0
C 2784.02 KJ/kg
Enthalpy 2784 kJ/Kg 664.92 Kcal/kg
Daily thermal energy consumption 601344000 kJ/day
Operating days 330 days
Annual thermal energy consumption 198 TJ

Capacity of Proposed Plant


Boiler Capacity 22 TPD
Operating Hours per day 24 Hours
Daily Steam requirement 528 TPD
Steam pressure required for process 44 Kg/cm2 Steam enthalpy
Steam Temprature 450 0
C
Enthalpy 794 Kcal/kg 3324.58 KJ/kg
Hourly thermal energy consumption 419232000 Kcal/day 794.0244 Kcal/kg
Capacity of Plant 20.3 Mwth

Calculation of Biomass and coal requirement for 22 TPH Boiler


Rice Husk
Steam Requirement for the process 22 TPH
Gross Calorific Value (GCV) Kcal/kg. 3250 Kcal
Feed Water Temperature 105 0C
Boiler Efficiency 82.0%
Rice husk required for 1 TPH Steam Generation
Theoretical Heat Requirement for steam generation at 44 kg/cm
794000 , 4800C
Kcal/tonne
2

Theoretical Heat Requirement at 82% Boiler Ef 968293 Kcal/tonne


Rice Husk requirement per TPH steam Generat 298 kg
Rice Husk requirement per 22 TPH steam Gene 6.55 TPH
No of working days in a year 330 days
No of working Hours per day 24 hours
Annual Rice Husk Requirement 51912 MT
(if 100% rice husk is used as raw-material)
Rice Husk Price Per MT Rs. 950
Porposed % 85%
Annual Rice Husk Requirement (85% uses) 44126 MT

Coal
Steam Requirement for the process 22 TPH
Gross Calorific Value (GCV) Kcal/kg. 3800 Kcal
Feed Water Temperature 105 0C
Boiler Efficiency 85.0%
Coal required for 1 TPH Steam Generation
Theoretical Heat Requirement for steam generation at
794000
44 kg/cm
Kcal/tonne
2
, 4800C
Theoretical Heat Requirement at 84% Boiler Ef 934118 Kcal/tonne
Coal requirement per TPH steam Generation 246 kg
Coal requirement per 22 TPH steam Generatio 5.41 TPH
No of working days in a year 330 days
No of working Hours per day 24 hours
Annual Coal Requirement 42832 MT
(if 100% Coal is used as raw-material)
Coal Price Per MT Rs. 1100
Proposed % 15%
Annual Coal Requirement (15% uses) 6425 MT

Misc. Chemicals
Chemicals Required (per hour) for 2.5 MW 62.5 Rs
No.of working days in a year 330
No. of working Hours per day 24
Annual Chemical Requirement 4.95 RS.

Estimated of Raw Materials

Raw Material Cost 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20


Rice Husk Requirement (MT) 85% 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126 44126
Capacity Utilisation 80% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90%
Actual Requirement 35300 39713 39713 39713 39713 39713 39713 39713 39713 39713 39713 39713 39713 39713 39713 39713 39713 39713 39713 39713
Cost of Rice Husk (Rs. in Lac) 335.35 384.82 404.06 424.26 445.48 467.75 491.14 515.69 541.48 568.55 596.98 626.83 658.17 691.08 725.63 761.92 800.01 840.01 882.01 926.11

Raw Material Cost 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20


2. Coal (15% raw-material) 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425 6425
Coal Requirement (MT) 80% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90%
Capacity Utilisation 5140 5782 5782 5782 5782 5782 5782 5782 5782 5782 5782 5782 5782 5782 5782 5782 5782 5782 5782 5782
Cost of Coal (Rs. in Lac) 56.54 63.61 66.79 70.12 73.63 77.31 81.18 85.24 89.50 93.97 98.67 103.61 108.79 114.23 119.94 125.93 132.23 138.84 145.78 153.07

Raw Material Cost 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20


3. Misc Chemicals
Chemicals Requirement (Rs. in lac) 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95 4.95
Capacity Utilisation 80% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90%
Cost of Chemical (Rs. in Lac) 3.96 4.68 4.91 5.16 4.46 4.68 4.91 5.16 4.46 4.68 4.91 5.16 4.46 4.68 4.91 5.16 4.46 4.68 4.91 5.16

Prepared By : SRCCL 6
Power Project/AIDCPL/Sarguja

Technical Annexure-VIII

ARORA INFRASTRUCTURE DEVELOPMENT COMPANY PRIVATE LIMITED

Salaries and Wages

Categroy No. Sal/Wages Annual


per month
(Rs.) (Rs. in lac)

Works Manager 1 25000 3.00


Production Supervisors 3 12000 4.32
Operators 6 6000 4.32
Electrical Mechanical Staff 3 7500 2.70
Skilled Workers 6 3000 2.16
Unskilled Workers 12 2500 3.60
Securities 1 2500 0.30

Administrative & Accounts Staff 10 6000 7.2

Total 42 27.60

Add other benefits 25% 6.9

34.50

It is assumed that this expenditure shall increase 5% every year

REPAIRS & MAINTENANCE EXPENSES

First Year of operation 0.50% of Gross Block Assets


Second ear onwards 1% of Gross Block Assets
(with 5% increase every year)

OTHER ADMINISTRATIVE OVERHEDS

Annual Expenditure assumed as Rs. 6.00 lacs


(with 5% increase every year)

Prepared By : SRCCL 8
Power Project/AIDCPL/Sarguja

Depreciation

Cost Preoperative Exp. Continge Total Cost

Land 0 0.00
Site Development & Building 162.59 8.54 0.00 171.13
P & Machinery (incl. Electrical) 995 52.27 0.00 1047.27
Miscellaneous Fixed Asset 0 0.00 0.00 0.00

Total 1157.59 60.815 0 1218.41

DEPRECIATION (Written Down Value - as per Companies Act)


Rate Cost Depreciation on SL Method
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
Land 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Site Development & Building 3.34% 171.13 Dep 5.72 5.52 5.34 5.16 4.99 4.82 4.66
WDV 165.42 159.89 154.55 149.39 144.40 139.58 134.91

P & Machinery (incl.Electrical) 5.28% 1047.27 Dep 55.30 52.38 49.61 46.99 44.51 42.16 39.93
WDV 991.98 939.60 889.99 843.00 798.49 756.33 716.39

Misc. Fixed Asset 5.28% 0.00 Dep 0.00 0.00 0.00 0.00 0.00 0.00 0.00
WDV 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Dep 61.01 57.90 54.95 52.15 49.50 46.98 44.60


1218.41 WDV ### ### 1044.54 992.39 942.89 895.90 851.31

DEPRECIATION (Written Down Value - as per Income Tax Act)


Rate Cost Depreciation on WDV Method
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2012-14 2012-15 2012-16 2012-17 2012-18 2012-19 2012-20 2012-21 2012-22 2012-23 2012-24 2012-25 2012-26
Land 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Site Development & Building 10% 171.13 Dep 17.11 15.40 13.86 12.48 11.23 10.11 9.09 8.19 7.37 6.63 5.97 5.37 4.83 4.35 3.91 3.52 3.17 2.85 2.57 2.31
WDV 154.02 138.62 124.76 112.28 101.05 90.95 81.85 73.67 66.30 59.67 53.70 48.33 43.50 39.15 35.23 31.71 28.54 25.69 23.12 20.81

P & Machinery (incl.Electrical) 15% 1047.27 Dep 157.09 133.53 113.50 96.47 82.00 69.70 59.25 50.36 42.81 36.38 30.93 26.29 22.34 18.99 16.14 13.72 11.66 9.91 8.43 7.16
WDV 890.18 756.65 643.16 546.68 464.68 394.98 335.73 285.37 242.57 206.18 175.25 148.97 126.62 107.63 91.48 77.76 66.10 56.18 47.76 40.59

Misc. Fixed Asset 15% 0.00 Dep 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
WDV 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Dep 174.20 148.93 127.36 108.95 93.23 79.81 68.34 58.54 50.17 43.01 36.89 31.66 27.18 23.34 20.06 17.25 14.84 12.77 11.00 9.47
WDV ### 895.27 767.91 658.96 565.73 485.93 417.58 359.04 308.87 265.85 228.96 197.30 170.12 146.78 126.72 109.47 94.64 81.87 70.87 61.40

Computation of Tax

2006-07 2007-08 2008-09 2009-10 2010-11


PBT 33.54 96.14 117.82 136.90 154.19
Add Depreciation as per Companies Act 61.01 57.90 54.95 52.15 49.50
Less Depreciation as per Income Tax 174.20 148.93 127.36 108.95 93.23
Adjusted Profit (79.65) 5.11 45.41 80.10 110.46

Loss BF
Added Loss

Loss Set Off / Amount available for set off (79.65) 0.00 0.00 0.00
Loss CF

Taxable Profit (79.65) 84.76 45.41 80.10 110.46

Regular Tax (36.5925% on C) 0.00 31.02 16.62 29.31 40.42


Minimum Alternate Tax (7.8415% on A) 2.63 7.54 9.24 10.73 12.09

Tax Payable (Regular Tax or MAT whichever is Lower) 0.00 7.54 9.24 10.73 12.09
(As this company is exempt from tax under sec 80 -1A - So, MAT is applicable)

Prepared By : SRCCL 10
Power Project/AIDCPL/Sarguja

Financial Annexure-VII

Schedule of Interest on Term Loan

TERM LOAN Int. Rate 11.50%


REPAYMENT SCHEDULE First Instalment 31/1/2008
Instalment Amount: Rs. 40.00 Rs lacs
Instalment Period : 20 Quarterly
(Rs. in Lakhs)
Int. Period 5 years
Term Loan Rs. 800.00 Lacs

Rs. in Lacs
Date Disbursement Interest Installment Repayment Balance Days
2006 - 07
31-Mar-06 800.00 92
30-Jun-06 23.19 40.00 63.19 760.00 91
30-Sep-06 21.79 40.00 61.79 720.00 92
31-Dec-06 20.87 40.00 60.87 680.00 90
31-Mar-07 19.28 40.00 59.28 640.00 0
0.00 85.13 160.00 245.13

Date Disbursement Interest Installment Repayment Balance Days


2007- 08
31-Mar-07 640.00 92
30-Jun-07 18.55 40.00 58.55 600.00 91
30-Sep-07 17.20 40.00 57.20 560.00 92
31-Dec-07 16.23 40.00 56.23 520.00 90
31-Mar-08 14.75 40.00 54.75 480.00 0
0.00 66.73 160.00 226.73

Date Disbursement Interest Installment Repayment Balance Days


2008- 09
31-Mar-08 480.00 92
30-Jun-09 13.91 40.00 53.91 440.00 91
30-Sep-09 12.62 40.00 52.62 400.00 92
31-Dec-09 11.59 40.00 51.59 360.00 90
31-Mar-10 10.21 40.00 50.21 320.00 0
0.00 48.33 160.00 208.33

Date Disbursement Interest Installment Repayment Balance Days


2009 - 10
31-Mar-10 320.00 92
30-Jun-10 9.28 40.00 49.28 280.00 91
30-Sep-10 8.03 40.00 48.03 240.00 92
31-Dec-10 6.96 40.00 46.96 200.00 90
31-Mar-11 5.67 40.00 45.67 160.00 0
0.00 29.93 160.00 189.93

Date Disbursement Interest Installment Repayment Balance Days


2010 - 11
31-Mar-11 160.00 92
30-Jun-11 4.64 40.00 44.64 120.00 91
30-Sep-11 3.44 40.00 43.44 80.00 92
31-Dec-11 2.32 40.00 42.32 40.00 90
31-Mar-12 1.13 40.00 41.13 (0.00) 0
0.00 11.53 160.00 171.53

Year 2006-07 2007-08 2008-09 2009-10 2010-11

Interest 85.13 66.73 48.33 29.93 11.53


Installments 160.00 160.00 160.00 160.00 160.00

Total 245.13 226.73 208.33 189.93 171.53

Outstanding Balance
640.00 480.00 320.00 160.00 0.00

Prepared By : SRCCL 8(B)


Power Project/AIDCPL/Sarguja

Financial Annexure-VI
CALCULATION OF WORKING CAPITAL REQUIRED

Margin 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

A Raw Material 98.96 113.28 118.94 124.89 130.89 137.43 144.31 151.52 158.86 166.80 175.14 183.90 192.85 202.50 212.62 223.25 234.17 245.88 258.18 271.09
Biomass 3 months 25% 97.97 112.11 117.71 123.60 129.78 136.27 143.08 150.23 157.74 165.63 173.91 182.61 191.74 201.33 211.39 221.96 233.06 244.71 256.95 269.80
Chemical 3 months 25% 0.99 1.17 1.23 1.29 1.11 1.17 1.23 1.29 1.11 1.17 1.23 1.29 1.11 1.17 1.23 1.29 1.11 1.17 1.23 1.29

B Debtors 1 month 30% 41.82 47.52 47.99 48.47 48.96 49.44 49.94 50.44 50.94 51.45 51.97 52.49 53.01 53.54 54.08 55.16 56.26 57.39 58.53 59.71

C Chargeble Current Asset 140.78 160.79 166.93 173.36 179.85 186.88 194.25 201.96 209.80 218.25 227.11 236.38 245.86 256.04 266.70 278.41 290.44 303.27 316.71 330.79

D Non-Chargeable CA 3.88 4.56 4.79 5.03 5.28 5.54 5.82 6.11 6.42 6.74 7.07 7.43 7.80 8.19 8.60 9.03 9.48 9.95 10.45 10.97
Salary / Wages 1 month 100% 2.88 3.02 3.17 3.33 3.49 3.67 3.85 4.05 4.25 4.46 4.68 4.92 5.16 5.42 5.69 5.98 6.28 6.59 6.92 7.26
Admin. Exp. 1 month 100% 0.50 0.53 0.55 0.58 0.61 0.64 0.67 0.70 0.74 0.78 0.81 0.86 0.90 0.94 0.99 1.04 1.09 1.15 1.20 1.26
Rep. & Maintenance 1 month 100% 0.51 1.02 1.07 1.12 1.18 1.23 1.30 1.36 1.43 1.50 1.58 1.65 1.74 1.82 1.91 2.01 2.11 2.22 2.33 2.44

E TOTAL W.C. Required 144.66 165.35 171.72 178.38 185.12 192.42 200.06 208.07 216.22 224.99 234.18 243.81 253.66 264.22 275.29 287.44 299.91 313.22 327.16 341.76

F Margin 44.66 65.35 71.72 78.38 85.12 92.42 100.06 108.07 116.22 124.99 134.18 143.81 153.66 164.22 175.29 187.44 199.91 213.22 227.16 240.76

G Bank Borrowing 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 101.00

Interest on WC loan is assumped at 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.75 10.86

(Working capital margin has been assumed on the basis of second year at Rs. 90 lac. (approximately)

1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th
Fixed Cost nthyear 1.55 1.51 1.47 1.44 1.4 1.37 1.34 1.31 1.27 1.24
Variable Cost 1.24 1.3 1.37 1.43 1.51 1.58 1.66 1.74 1.81 1.87
Sale Price of the Power 2.79 2.81 2.84 2.87 2.91 2.95 3.00 3.05 3.08 3.11
I increase 0.7% 1.1% 1.0% 1.4% 1.4% 1.7% 1.6% 1.0% 1.0%

Prepared By : SRCCL 9
IRR Calculation Using Post Tax Earnings

Project IRR
0 1 2 3 4 5
Cash Out Flow 1218.41
Net Cash flow (1218.41) 195.33 209.50 201.59 195.19 190.37
IRR 10.59%

Project IRR Considering the Revenue from CDM


0 1 2 3 4 5
Estimated CERs in tCO2e 33447 33447 33447 33447 33447
Estimated Revenues @ 10 EURO/
CER 183.96 183.96 183.96 183.96 183.96
Less: Cost of Obtaining CERs @30% 55.19 55.19 55.19 55.19 55.19
Net Revenue
Cashflow for Sale of CERs
considering 128.77 128.77 128.77 128.77 128.77
CDM Revenue -1218.41 324.11 338.27 330.36 323.97 319.14
Project IRR 24.70%
*Conversion Factor 1 EURO = 55 INR

IRR Calculation Using Pre Tax Earnings

Project IRR
0 1 2 3 4 5
Cash Out Flow 1218.41
Net Cash flow (1218.41) 207.74 245.07 245.18 245.85 247.42
IRR 15.58%

Project IRR Considering the Revenue from CDM


0 1 2 3 4 5
Estimated CERs in tCO2e 33447 33447 33447 33447 33447
Estimated Revenues @ 10 EURO/
CER 183.96 183.96 183.96 183.96 183.96
Less: Cost of Obtaining CERs @30% 55.19 55.19 55.19 55.19 55.19
Net Revenue
Cashflow for Sale of CERs
considering 128.77 128.77 128.77 128.77 128.77
CDM Revenue -1218.41 336.52 373.84 373.95 374.62 376.19
Project IRR 28.33%
*Conversion Factor 1 EURO = 55 INR
6 7 8 9 10 11 12 13 14

181.80 166.66 152.01 138.04 123.86 109.69 95.39 81.22 66.36

6 7 8 9 10 11 12 13 14
33447 33447 33448 33448 33448 29732 29732 29732 29732
183.96 183.96 183.96 183.96 183.96 163.52 163.52 163.52 163.52
55.19 55.19 55.19 55.19 55.19 49.06 49.06 49.06 49.06
128.77 128.77 128.77 128.77 128.77 114.47 114.47 114.47 114.47
310.57 295.43 280.79 266.81 252.63 224.15 209.86 195.68 180.82

6 7 8 9 10 11 12 13 14

241.70 224.41 206.91 189.64 171.34 152.44 132.82 112.96 91.62

6 7 8 9 10 11 12 13 14
33447 33447 33448 33448 33448 29732 29732 29732 29732
183.96 183.96 183.96 183.96 183.96 163.52 163.52 163.52 163.52
55.19 55.19 55.19 55.19 55.19 49.06 49.06 49.06 49.06
128.77 128.77 128.77 128.77 128.77 114.47 114.47 114.47 114.47
370.47 353.18 335.68 318.41 300.11 266.90 247.29 227.42 206.09
15 16 17 18 19 20

51.05 39.31 27.43 14.63 (4.58) (26.27)

15 16 17 18 19 20
29732 29732 29732 29732 29732 29732
163.52 163.52 163.52 163.52 163.52 163.52
49.06 49.06 49.06 49.06 49.06 49.06
114.47 114.47 114.47 114.47 114.47 114.47
165.52 153.77 141.89 129.10 109.89 88.19

15 16 17 18 19 20

69.26 52.26 34.82 15.72 (4.58) (26.27)

15 16 17 18 19 20
29732 29732 29732 29732 29732 29732
163.52 163.52 163.52 163.52 163.52 163.52
49.06 49.06 49.06 49.06 49.06 49.06
114.47 114.47 114.47 114.47 114.47 114.47
183.72 166.73 149.29 130.19 109.89 88.19