Vegetron Limited

Asset Valuation for Depreciation Purposes (Rs in Millions)
Asset
Basic Cost
Land
Building
Plant and
Machinery
Miscellaneous fixed
assets
Share of
Share of
Preoperative cost Contigency margin Total
10
1.26
0.88
15
1.9
1.32
12.14
18.22
62
7.84
5.45
75.29
0.51
0.35
4.86
Depreciation schedule for company law purposes (Rs in Millions)

Building
Plant and
machinery
3.34%
0.61
7.42%
5.59
Misc fixed assets

Annual
depreciation
7.42%
0.36
6.55
Deprecitaion schedule for income tax purposes (written down value method-Rs in millions)
Year
1
2
3
4
Building
1.822
1.640
1.476
1.328
Plant and
machinery and
misc fixed assets
Total
12.021
13.843
10.218
11.8578
8.685
10.161
7.383
8.711
Sales realization
Year
InstalledCapacity
(TPA)
2880
2880
2880
2880
Capacity utilization
Production (TPA)
Sales realization
50%
1440
172.8
60%
1728
207.36
70%
2016
241.92
70%
2016
241.92
5
1.195
6
1.076
7
0.968
8
0.871
9
0.784
6.275
7.470
5.334
6.410
4.534
5.502
3.854
4.725
3.276
4.060
2880
2880
2880
2880
2880
70%
2016
241.92
70%
2016
241.92
70%
2016
241.92
70%
2016
241.92
70%
2016
241.92
10
0.706
2.784
3.490
10
2880
70%
2016
241.92
Tax Calculation
Year
Profit/loss before tax
Add: depreciation for
company law purposes
Less: Depreciation for
company law purposes
Less:unabsorbed
depreciation of earlier years Gross total income
Total income
Income tax @ 30%
1
9.12
2
14.8
3
20.16
4
20.43
5
20.66
6
20.86
7
21.03
6.55
15.67
6.55
21.35
6.55
26.71
6.55
26.98
6.55
27.21
6.55
27.41
6.55
27.58
13.84
1.83
11.86
9.49
10.16
16.55
8.71
18.27
7.47
19.74
6.41
21.00
5.50
22.08
1.83
1.83
0.55
9.49
9.49
2.85
16.55
16.55
4.96
18.27
18.27
5.48
19.74
19.74
5.92
21.00
21.00
6.30
22.08
22.08
6.62
8
21.16
9
21.24
10
21.29
6.55
27.71
6.55
27.79
6.55
27.84
4.73
22.98
4.06
23.73
3.49
24.35
22.98
22.98
6.90
23.73
23.73
7.12
24.35
24.35
7.31
Profitability Estimates (Estimates of working results) in Rs. Million

1
2
3
A
sales realisation
Cost of Production
172.8
207.36
241.92
241.92
241.92
112.32
134.78
157.25
157.25
157.25
6.91
8.29
9.68
9.68
9.68
10
12
12.6
13.23
0.5
0.53
0.56
0.6
0.63
Selling expenses (10% of A)
17.28
20.736
24.192
24.192
24.192
Gross profit before interest (A-B-C)
25.79
32.024
37.238
36.598
35.938
Tot. financial expenses

7.2
7.2
6.53
5.63
4.73
interest on bank borrowing
2.72
3.26
3.8
3.8
3.8
Depreciation
6.55
6.55
6.55
6.55
6.55
Operating profit(D-E-F)
9.32
15.014
20.358
20.618
20.858
Preliminary expenses written off
0.2
0.2
0.2
0.2
0.2
Profit/loss before tax
9.12
14.814
20.158
20.418
20.658
Provision for tax
0.55
2.85
4.97
5.48
5.92
Profit after tax (I-J)
8.57
11.964
15.188
14.938
14.738
Less: dividend
Retained profit (K-L)
8.57
5.964
9.188
7.938
7.738
Add:Depreciation
6.55
6.55
6.55
6.55
6.55
0.2
0.2
0.2
0.2
0.2
15.32
12.714
15.938
14.688
14.488
Raw Materials
Power
wages & salaries
Factory overheads
C
Administration & selling expenses

Administration expenses
interest on term loans
Preliminary expenses written off

O
Net cash accruals
10
241.92
241.92
241.92
241.92
241.92
157.25
157.25
157.25
157.25
157.25
9.68
9.68
9.68
9.68
9.68
13.89
14.59
15.32
16.08
16.89
0.67
0.71
0.75
0.8
0.84
24.192
24.192
24.192
24.192
24.192
35.238
34.498
33.728
32.918
32.068
3.83
2.93
2.03
1.13
0.23
3.8
3.8
3.8
3.8
3.8
6.55
6.55
6.55
6.55
6.55
21.058
21.218
21.348
21.438
21.488
0.2
0.2
0.2
0.2
0.2
20.858
21.018
21.148
21.238
21.288
6.3
6.62
6.9
7.12
7.31
14.558
14.398
14.248
14.118
13.978
10
6.558
6.398
5.248
5.118
3.978
6.55
6.55
6.55
6.55
6.55
0.2
0.2
0.2
0.2
0.2
13.308
13.148
11.998
11.868
10.728
Projected Balance sheets

At the end of the contsruction period
Liabilities
Share capital
Reserves and surplus
Secured Loans
Term Loans
Working capital advance
Unsecured Loans
State Gov loan
Current liabilities and provisions
trade credit
Total
Assets
Fixed assets
Less:Accumulated depreciation
Net fixed assets
Investments
Current assets,loans and advances
Raw materials
Stock-in process
Finished goods
Book debts
Cash and bank balances
Misc expenditure and losses
Preliminary expenses
Total
Years
(Rs in Millions)
50
50
8.57
50
14.53
50
23.72
50
31.66
50
39.40
60
60
20.9
56.25
25.05
48.75
29.24
41.25
29.24
33.75
29.24
11
11
11
11
11
11
121
4.68
155.15
5.62
162.45
6.55
169.26
6.55
169.70
6.55
169.94
110.5
110.5
6.55
103.95
110.5
13.11
97.39
110.5
19.66
90.84
110.5
26.22
84.28
110.5
32.77
77.73
8.5
14.04
0.32
5.34
14.4
15.3
16.85
0.38
6.38
17.28
22.56
19.66
0.45
7.46
20.16
29.3
19.66
0.45
7.46
20.16
36.5
19.66
0.45
7.46
20.16
43.49
2
121
1.8
155.15
1.6
162.44
1.4
169.27
1.2
169.71
1
169.95
110.5
10
50
45.96
50
52.35
50
57.60
50
62.72
50
66.70
26.25
29.24
18.75
29.24
11.25
29.24
3.75
29.24
0
29.24
11
11
11
11
11
6.55
169.00
6.55
167.89
6.55
165.64
6.55
163.26
6.55
163.49
110.5
39.33
71.17
110.5
45.88
64.62
110.5
52.44
58.06
110.5
58.99
51.51
110.5
65.55
44.95
19.66
0.45
7.46
20.16
49.31
19.66
0.45
7.46
20.16
54.97
19.66
0.45
7.46
20.16
59.48
19.66
0.45
7.46
20.16
63.86
19.66
0.45
7.46
20.16
70.85
0.8
169.01
0.6
167.92
0.4
165.67
0.2
163.3
0
163.53

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Asset Valuation for Depreciation Purposes (Rs in Millions)

Depreciation schedule for company law purposes (Rs in Millions)

Misc fixed assets

Profitability Estimates (Estimates of working results) in Rs. Million

Selling expenses (10% of A)

Gross profit before interest (A-B-C)

Tot. financial expenses

interest on bank borrowing

Preliminary expenses written off

Profit/loss before tax

Provision for tax

Profit after tax (I-J)

Retained profit (K-L)

Administration & selling expenses

interest on term loans

Preliminary expenses written off

Net cash accruals

Projected Balance sheets

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