ICICI Banking Corporation Ltd.

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM II - OPERATING STATEMENT

Name:

Amounts in Rs. Crore

Last 2 Years Actuals Current Yr. Next Year
(As per audited accounts) Estimates Projections
Year 1999 2000 2001 2002
No.of months 12 12 12 12

1. Gross Sales

i. Domestic Sales

ii. Export Sales

Total 0.00 0.00 0.00 0.00

2. Less Excise Duty 0.00 0.00 0.00 0.00

3. Net Sales (1 - 2) 0.00 0.00 0.00 0.00

4. % age rise (+) or fall (-) in net sales

as compared to previous year (annualised) N/A N/A N/A N/A

5. Cost of Sales

i. Raw materials (including stores and

other items used in the process of
manufacture) 0.00 0.00 0.00 0.00

a. Imported

b. Indigenous

ii. Other Spares

a. Imported 0.00 0.00 0.00 0.00

b. Indigenous

iii. Power and Fuel

iv. Direct Labour (Factory wages & salaries)

v. Other manufacturing expenses

vi. Depreciation

vii. Sub-total (i to vi) 0.00 0.00 0.00 0.00

viii. Add: Opening Stock-in-process 0.00 0.00 0.00 0.00

Sub-total (vii + viii) 0.00 0.00 0.00 0.00

ix. Deduct: Closing Stock-in-process 0.00 0.00 0.00 0.00

x. Cost of Production 0.00 0.00 0.00 0.00

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xi. Add: Opening Stock of finished goods 0.00 0.00 0.00 0.00

Sub-total (x + xi) 0.00 0.00 0.00 0.00

xii. Deduct: Closing Stock of finished goods 0.00 0.00 0.00 0.00

xiii. Sub-total (Total Cost of Sales) 0.00 0.00 0.00 0.00

6. Selling, general and administrative expenses

7. Sub-total (5 + 6) 0.00 0.00 0.00 0.00

8. Operating Profit before Interest (3 - 7) 0.00 0.00 0.00 0.00

9. Interest

10. Operating Profit after Interest (8 - 9) 0.00 0.00 0.00 0.00

11. i. Add: Other non-operating Income

a.

b.

c. 0.00 0.00

d.

Sub-total (Income) 0.00 0.00 0.00 0.00

ii. Deduct: Other non-operating expenses

a. 0.00 0.00 0.00

b.

c. 0.00 0.00

d.

Sub-total (Expenses) 0.00 0.00 0.00 0.00

iii. Net of other non-operating income /

expenses [net of 11(i) & 11(ii)] 0.00 0.00 0.00 0.00

12. Profit before tax/loss [10 + 11(iii)] 0.00 0.00 0.00 0.00

13. Provision for taxes

14. Net Profit / Loss (12 -13) 0.00 0.00 0.00 0.00

15. a. Equity dividend paid-amount

(Already paid + B.S. provision)

b. Dividend Rate (% age) 0.00 0.00 0.00 0.00

16. Retained Profit (14 - 15) 0.00 0.00 0.00 0.00

17. Retained Profit / Net Profit (% age)

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FORM III - ANALYSIS OF BALANCE SHEET

LIABILITIES

Name: 0

Amounts in Rs. Crore

Last 2 Years Actuals Current Yr. Next Year
(As per audited BS) Estimates Projections
Year 1999 2000 2001 2002
No.of months 12 12 12 12

CURRENT LIABILITIES

1. Short-term borrowing from banks (including

bills purchased, discounted & excess
borrowing placed on repayment basis)

i. From applicant bank 0.00 0.00 0.00 0.00

ii. From other banks 0.00

iii. (of which BP & BD) 0.00

Sub-total [i + ii] (A) 0.00 0.00 0.00 0.00

2. Short term borrowings from others

3. Sundry Creditors (Trade)

4. Advance payments from customers /

deposits from dealers

5. Provision for taxation

6. Dividend payable

7. Other statutory liabilities (due within 1 year) 0.00

8. Deposits / instalments of term loans /

DPGs / debentures etc. (due within 1 year) 0.00

9. Other current liabilities & provisions

(due within 1 year) - specify major items 0.00 0.00 0.00 0.00

a.

b.

c.

d.

Sub total [2 to 9] (B) 0.00 0.00 0.00 0.00

10. Total current liabilities [A + B] 0.00 0.00 0.00 0.00

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TERM LIABILITIES

11. Debentures (not maturing within 1 year) 0.00 0.00

12. Preference Shares (redeemable after 1 year)

13. Term loans (excluding instalments

payable within 1 year) 0.00 0.00

14. Deferred Payment Credits (excluding

instalments due within 1 year)

15. Term deposits (repayable after 1 year) 0.00 0.00 0.00

16. Other term liabilities

17. Total Term Liabilities [11 to 16] 0.00 0.00 0.00 0.00

18. Total Outside Liabilities [10 + 17] 0.00 0.00 0.00 0.00

NET WORTH

19. Ordinary Share Capital

20. General Reserve

21. Revaluation Reserve 0.00 0.00 0.00 0.00

22. Other Reserves (excluding Provisions)

23. Surplus (+) or deficit (-) in Profit & Loss a/c

23. a. Others

Share Premium

Capital Redemption Reserve

24. Net Worth 0.00 0.00 0.00 0.00

25. TOTAL LIABILITIES [18 + 24] 0.00 0.00 0.00 0.00

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FORM III - ANALYSIS OF BALANCE SHEET (Continued)

ASSETS

Name: 0

Amounts in Rs. Crore

Last 2 Years Actuals Current Yr. Next Year
(As per audited BS) Estimates Projections
Year 1999 2000 2001 2002
No.of months 12 12 12 12
CURRENT ASSETS
26. Cash and Bank Balances
27. Investments (other than long term)
i. Govt. and other trustee securities 0.00 0.00 0.00 0.00
ii. Fixed Deposits with banks
28. i. Receivables other than deferred &
exports (incldg. bills purchased and
discounted by banks)
ii. Export receivables (incldg. bills
purchased/discounted by banks) 0.00 0.00
29. Instalments of deferred receivables
(due within 1 year)
30. Inventory: 0.00 0.00 0.00 0.00
i. Raw materials (including stores and
other items used in the process of
manufacture) 0.00 0.00 0.00 0.00
a. Imported 0.00 0.00 0.00 0.00
b. Indigenous
ii. Stocks-in-process 0.00 0.00 0.00 0.00
iii. Finished goods 0.00 0.00 0.00 0.00
iv. Other consumable spares 0.00 0.00 0.00 0.00
a. Imported
b. Indigenous 0.00 0.00 0.00 0.00
31. Advances to suppliers of raw materials
and stores/spares 0.00 0.00 0.00 0.00
32. Advance payment of taxes
33. Other current assets (specify major items) 0.00 0.00 0.00 0.00
a. Interest Receivable
b. Prepaid Expenses
c. Loans and Advances
d. 0.00 0.00 0.00 0.00
34. Total Current Assets (26 to 33) 0.00 0.00 0.00 0.00

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FIXED ASSETS
35. Gross Block (land, building, machinery,
work-in-progress)
36. Depreciation to date
37. Net Block (35 - 36) 0.00 0.00 0.00 0.00

OTHER NON-CURRENT ASSETS

38. Investments/book debts/advances/deposits
which are not current assets 0.00 0.00 0.00 0.00
i. a. Investments in subsidiary
companies / affiliates
b. Others
ii. Advances to suppliers of capital goods
and contractors 0.00
iii. Deferred receivables (maturity
exceeding 1 year) 0.00 0.00 0.00 0.00
iv. Others 0.00 0.00 0.00 0.00
a. Security Deposits
b. Loans to Subsidiaries
c. Receivables over 6 months
d.
39. Non-consumable stores and spares
40. Other non-current assets including
dues from directors
41. Total Other Non-current Assets (38 to 40) 0.00 0.00 0.00 0.00

42. Intangible Assets (patents, good will,

prelim.expenses, bad / doubtful debts not
provided for, etc.
43. Total Assets (34+37+41+42) 0.00 0.00 0.00 0.00
44. Tangible Net Worth (24 - 42) 0.00 0.00 0.00 0.00
45. Net Working Capital (34 - 10) 0.00 0.00 0.00 0.00

46. Current Ratio (34 / 10)

47. Total OUTSIDE Liabilities / Tangible
Net Worth (18 / 44)
48. Total TERM Liabilities / Tangible
Net Worth (17 / 44)

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. Other liabilities not provided for

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FORM IV
COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

Name: 0

Amounts in Rs. Crore

Last Year Current Yr. Next Year Peak
Norms Actuals Estimates Projections Requirement
Year 2000 2001 2002

A. CURRENT ASSETS
1. Raw materials (incl. stores & other items
used in the process of manufacture)
a. Imported 0.00 0.00 0.00
Month's Consumption
b. Indigenous 0.00 0.00 0.00
Month's Consumption
2. Other Consumable spares, excluding
those included in 1 above
a. Imported 0.00 0.00 0.00
Month's Consumption
b. Indigenous 0.00 0.00 0.00
Month's Consumption
3. Stock-in-process 0.00 0.00 0.00
Month's cost of production
4. Finished goods 0.00 0.00 0.00
Month's cost of sales
5. Receivables other than export & deferred
receivables (incl. bills purchased &
discounted by bankers) 0.00 0.00 0.00
Month's domestic sales: excluding
deferred payment sales
6. Export receivables (incl. bills purchased
and discounted) 0.00 0.00 0.00
Month's export sales
7. Advances to suppliers of raw materials &
stores / spares, consumables 0.00 0.00 0.00
8. Other current assets incl. cash & bank
balances & deferred receivables due
within one year 0.00 0.00 0.00
Cash and Bank Balances 0.00 0.00 0.00
Investments (other than long term):
i. Govt. and other trustee securities 0.00 0.00 0.00
ii. Fixed Deposits with banks 0.00 0.00 0.00
Instalments of deferred receivables
(due within 1 year) 0.00 0.00 0.00
Advance payment of taxes 0.00 0.00 0.00
Other current assets 0.00 0.00 0.00

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9. Total Current Assets 0.00 0.00 0.00

(To agree with item 34 in Form III)

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FORM IV
COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

Name: 0

Amounts in Rs. Crore

Last Year Current Yr. Next Year Peak
Norms Actuals Estimates Projections Requirement
Year 2000 2001 2002
B. CURRENT LIABILITIES
(Other than bank borrowings for working capital)

10. Creditors for purchase of raw materials,

stores & consumable spares 0.00 0.00 0.00
Month's purchases 0
11. Advances from customers 0.00 0.00 0.00
12. Statutory liabilities 0.00 0.00 0.00
13. Other current liabilities: 0.00 0.00 0.00
Short term borrowings from others 0.00 0.00 0.00
Provision for taxation 0.00 0.00 0.00
Dividend payable 0.00 0.00 0.00
Deposits / instalments of term loans / DPGs
/ debentures etc. (due within 1 year) 0.00 0.00 0.00
Other current liabilities & provisions
(due within 1 year) 0.00 0.00 0.00
14. Total (To agree with total B of Form-III) 0.00 0.00 0.00

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FORM V
COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

Name: 0

Amounts in Rs. Crore

Last Year Current Yr. Next Year Peak
First Method of Lending Actuals Estimates Projections Requirement
Year 2000 2001 2002

1. Total Current Assets (Form-IV-9) 0.00 0.00 0.00

2. Other Current Liabilities (other than
bank borrowings (Form-IV-14) 0.00 0.00 0.00
3. Working Capital Gap (WCG) (1-2) 0.00 0.00 0.00
4. Min. stipulated net working capital:
(25% of WCG excluding export receivables) 0.00 0.00 0.00
5. Actual / Projected net working capital
(Form-III-45) 0.00 0.00 0.00
6. Item-3 minus Item-4 0.00 0.00 0.00
7. Item-3 minus Item-5 0.00 0.00 0.00
8. Max. permissible bank finance
(item-6 or 7, whichever is lower) 0.00 0.00 0.00
9. Excess borrowings representing
shortfall in NWC (4 - 5)

Second Method of Lending

1. Total Current Assets (Form-IV-9) 0.00 0.00 0.00

2. Other Current Liabilities (other than
bank borrowings (Form-IV-14) 0.00 0.00 0.00
3. Working Capital Gap (WCG) (1-2) 0.00 0.00 0.00
4. Min. stipulated net working capital:
(25% of total Current Assets excluding
export receivables) 0.00 0.00 0.00
5. Actual / Projected net working capital
(Form-III-45) 0.00 0.00 0.00
6. Item-3 minus Item-4 0.00 0.00 0.00
7. Item-3 minus Item-5 0.00 0.00 0.00
8. Max. permissible bank finance
(item-6 or 7, whichever is lower) 0.00 0.00 0.00
9. Excess borrowings representing
shortfall in NWC (4 - 5)

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ICICI Banking Corporation Ltd.

FORM VI
FUNDS FLOW STATEMENT

Name: 0

Amounts in Rs. Crore

Last Year Current Yr. Next Year
Actuals Estimates Projections
Year 2000 2001 2002

1. SOURCES

a. Net Profit 0.00 0.00 0.00

b. Depreciation 0.00 0.00 0.00

c. Increase in Capital 0.00 0.00 0.00

d. Increase in Term Liabilities

(including Public Deposits) 0.00 0.00 0.00

e. Decrease in

i. Fixed Assets

ii. Other non-current Assets

f. Others 0.00 0.00 0.00

g. TOTAL 0.00 0.00 0.00

2. USES

a. Net loss

b. Decrease in Term Liabilities

(including Public Deposits)

c. Increase in

i. Fixed Assets 0.00 0.00 0.00

ii. Other non-current Assets 0.00 0.00 0.00

d. Dividend Payments 0.00 0.00 0.00

e. Others

f. TOTAL 0.00 0.00 0.00

3. Long Term Surplus (+) / Deficit (-) [1-2] 0.00 0.00 0.00

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4. Increase/decrease in current assets

* (as per details given below) 0.00 0.00 0.00

5. Increase/decrease in current liabilities

other than bank borrowings 0.00 0.00 0.00

6. Increase/decrease in working capital gap 0.00 0.00 0.00

7. Net Surplus / Deficit (-) [3-6] 0.00 0.00 0.00

8. Increase/decrease in bank borrowings 0.00 0.00 0.00

9. Increase/decrease in NET SALES N/A 0.00 0.00

* Break up of item-4

i. Increase/decrease in Raw Materials 0.00 0.00 0.00

ii. Increase/decrease in Stocks-in-Process 0.00 0.00 0.00

iii. Increase/decrease in Finished Goods 0.00 0.00 0.00

iv. Increase/decrease in Receivables

a) Domestic 0.00 0.00 0.00

b) Export 0.00 0.00 0.00

v. Increase/decrease in Stores & Spares 0.00 0.00 0.00

vi. Increase/decrease in other current assets 0.00 0.00 0.00

TOTAL 0.00 0.00 0.00

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I C I C I Banking Corporation Ltd.

Key Indicators
S. No For year ended / ending 1999 2000 2001 2002
September 30, Actual Actual Estimate Projection
1 Net Sales 0.00 0.00 0.00 0.00
2 PBILDT 0.00 0.00 0.00 0.00
3 PBT 0.00 0.00 0.00 0.00
4 PAT 0.00 0.00 0.00 0.00
5 Net Cash Accruals 0.00 0.00 0.00 0.00
6 P B I L D T/ Net Sales (%) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
7 PAT/ Net Sales (%) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
8 Dividend/PAT (%) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
9 Gross Block 0.00 0.00 0.00 0.00
10 Net Block 0.00 0.00 0.00 0.00
11 Paid up Capital 0.00 0.00 0.00 0.00
12 Tangible Networth (TNW) 0.00 0.00 0.00 0.00
13 Group Invetsments 0.00 0.00 0.00 0.00
14 Adjusted T N W 0.00 0.00 0.00 0.00
15 L T D / T N W #DIV/0! #DIV/0! #DIV/0! #DIV/0!
16 D F S / T N W #DIV/0! #DIV/0! #DIV/0! #DIV/0!
17 T O L / T N W #DIV/0! #DIV/0! #DIV/0! #DIV/0!
18 Current Assets 0.00 0.00 0.00 0.00
19 Current Liabilities 0.00 0.00 0.00 0.00
20 Net Working Capital 0.00 0.00 0.00 0.00
21 Current Ratio
Other Indicators
22 R O C E (%) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
23 Interest Coverage Ratio #DIV/0! #DIV/0! #DIV/0! #DIV/0!
24 DSCR #DIV/0! #DIV/0! #DIV/0!
Fund Flow Analysis
Year Ended / Ending September 30, 2000 2001 2002
Long Term Sources 0.00 0.00 0.00
Long Term uses 0.00 0.00 0.00
Surplus/Deficit 0.00 0.00 0.00

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Surplus / Incremental build up of current

#DIV/0! #DIV/0! #DIV/0!
assets (%)

Pattern of TCA Funding

Year ended / Ending 30 1999 2000 2001 2002

September
Sundry Creditors #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Other Current Liabilities #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Bank Borrowings #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Long Term funds #DIV/0! #DIV/0! #DIV/0! #DIV/0!

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Sensitivity Ananlysis
Trend Analysis of Components of Cost of Sales
(Rs in crore)

2001 5% inc 5% dec 2002 5% inc 5% dec 1999 2000 2001 2002

Net Sales - - - - - - Actuals Actuals Estimates Projections

Variable Cost* - #DIV/0! #DIV/0! - #DIV/0! #DIV/0! RM / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!
* RM, Packing material, Consumable stores & spares, stock adj and other mfg
expenses
Spares / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Contribution - #DIV/0! #DIV/0! - #DIV/0! #DIV/0! P & F / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Fixed Costs** - - - - - - Labour / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!

**Power & fuel, Direct labour, Depreciation, SGA and Interest SGA / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Operating Profit - #DIV/0! #DIV/0! - #DIV/0! #DIV/0! OME / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Operating Change in SIP / Net
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Profit/Sales Sales
Change in FG/ Net
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
Sales
Depreciation / Net
Break Even Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Sales
Total (Excl Dep) #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Cash Breakeven #DIV/0! #DIV/0! Operating Margin #DIV/0! #DIV/0! #DIV/0! #DIV/0!

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SCENARIOS FOR OPERATIONS FOR FY ENDING 30/9/2001

Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6

Change In Net Sales 5% - 0% - 5% - 10% - 0% - 10% -
Change In Variable costs 0% - 5% - 5% - 0% - 10% - 10% -
Contribution - - - - - -
PBILDT - - - - - -
PBT - - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Scenario 7 Scenario 8 Scenario 9 Scenario 10 Scenario 11 Scenario 12

Change In Net Sales 20% - 0% - 20% - -5% - 0% - -5% -
Change In Variable costs 0% - 20% - 20% - 0% - -5% - -5% -
Contribution - - - - - -
PBILDT - - - - - -
PBT - - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Scenario 13 Scenario 14 Scenario 15 Scenario 16 Scenario 17 Scenario 18

Change In Net Sales -10% - 0% - -10% - -20% - 0% - -20% -
Change In Variable costs 0% - -10% - -10% - 0% - -20% - -20% -
Contribution - - - - - -
PBILDT - - - - - -
PBT - - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

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SCENARIOS FOR OPERATIONS FOR FY ENDING 30/9/2002

Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6

Change In Net Sales 5% - 0% - 5% - 10% - 0% - 10% -
Change In Variable costs 0% - 5% - 5% - 0% - 10% - 10% -
Contribution - - - - - -
PBILDT - - - - - -
PBT - - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Scenario 7 Scenario 8 Scenario 9 Scenario 10 Scenario 11 Scenario 12

Change In Net Sales 20% - 0% - 20% - -5% - 0% - -5% -
Change In Variable costs 0% - 20% - 20% - 0% - -5% - -5% -
Contribution - - - - - -
PBILDT - - - - - -
PBT - - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Scenario 13 Scenario 14 Scenario 15 Scenario 16 Scenario 17 Scenario 18

Change In Net Sales -10% - 0% - -10% - -20% - 0% - -20% -
Change In Variable costs 0% - -10% - -10% - 0% - -20% - -20% -
Contribution - - - - - -
PBILDT - - - - - -
PBT - - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

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