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Solapur
ANNEXURE 1
(Rs.Lakh)
Already incurred To be incurred Total
Particulars Co-gen Sugar Co-gen Sugar
Project Project Project Project
Land
Site development:
Levelling & site grading 0 0 5 5 10
Cane Yard levelling & grading 0 0 0 15 15
Fencing 0 0 10 10 20
Gates 0 0 5 5 10
Roads & Culverts 0 0 10 10 20
Sewerage and Drainage 0 0 5 5 10
Total Cost 0 0 35 50 85
Total Land and Site Development Cost 20 41 48 74 183
ANNEXURE 2
(Rs.Lakh)
Description Already incurred To be incurred Total
Co-gen Sugar Co-gen Sugar
Project Project Project Project
ANNEXURE - 3
2. Steam Turbine and auxiliaries ( 1 x 11 MW capacity double extraction cum 1 700 70 0 770 0 770
condensing type, 66 kg/cm2 pressure, 490 Deg.C.)
3. Elecrical evacuation system and tie line cost 1 250 25 0 275 0 275
5. Sugar Plant Equipments, excl. Boiler & TG Set & including electricals 1 2000 200 0 0 2200 2200
ANNEXURE - 4
ANNEXURE - 5
Total 0 0 10 10 20
Preoperative expenses:
Establishment charges 0 0 5 5 10
Rent, rates and taxes 0 0 5 5 10
Travelling Expenses 0 0 10 10 20
Cane Development Expenses 0 0 0 75 75
Start up expenses including wages & salaries 0 0 15 15 30
Project Management charges incl. Supervision 0 0 15 15 30
Project Insurance during construction 0 0 44 40 84
Interest During Construction 0 0 145 132 277
Mortgage expenses, bankers charges, stamp duty, etc. 0 0 5 5 10
ANNEXURE - 6
SCHEDULE - A
COST OF PROJECT
(Rs.Lakh)
Annx Co-gen Sugar Total
Nos. Project Project
Land 1 33 65 98
Site development 1 35 50 85
Civil Works 2 291 377 668
Indigenous Plant and Machinery 3 3179 2270 5449
Misc.Fixed Assets 4 110 100 210
Preliminary Expenses 5 10 10 20
Pre operative Expenses 5 244 302 546
Contingencies 6 77 62 140
Capital cost of the project 3979 3237 7216
Working capital margin 7 87 322 410
ANNEXURE - 18
CALCULATION OF DEPRECIATION
(Rs.Lakh)
Description Site Dev. & Plant & Misc. Full Total Land Grand
Bldgs. M/C Fixed Depn. Total
Assets Assets
Straight Line Method
ANNEXURE - 18
ANNEXURE - 8
Installed Capacity (Season) TCH 114 114 114 114 114 114 114 114 114 114
Number of Hours/Day 22 22 22 22 22 22 22 22 22 22
Number of working days 130 160 160 160 160 160 160 160 160 160
Annual Installed Crushing Capacity MT 326040 401280 401280 401280 401280 401280 401280 401280 401280 401280
Capacity utilisation % 90 95 100 100 100 100 100 100 100 100
Estimated Annual Crushing 293436 381216 401280 401280 401280 401280 401280 401280 401280 401280
Estimated Sugar Recovery 0.1150 0.1175 0.1200 0.1200 0.1200 0.1200 0.1200 0.1200 0.1200 0.1200
Annual Sugar Production MT 33745 44793 48154 48154 48154 48154 48154 48154 48154 48154
Levi Sugar sale % 10 10 10 10 10 10 10 10 10 10
Levi Sugar sale 13370 451 599 644 644 644 644 644 644 644 644
Free Sugar sale % 90 90 90 90 90 90 90 90 90 90
Free sugar Rate 18000 18000 18000 18000 18000 18000 18000 18000 18000 18000 18000
Free Sugar sale Rs. 0 5467 7256 7801 7801 7801 7801 7801 7801 7801 7801
Annual income from sugar (Rs.Lakh) 5918 7855 8445 8445 8445 8445 8445 8445 8445 8445
Est. Molasses Recovery % 4 4 4 4 4 4 4 4 4 4
Annual Molasses production 11737 15249 16051 16051 16051 16051 16051 16051 16051 16051
Sale of Molasses @Rs.3000/MT 3000 352 457 482 482 482 482 482 482 482 482
Total Sugar Income 6270 8313 8926 8926 8926 8926 8926 8926 8926 8926
ANNEXURE - 8
Co-generation Project
Exportable Cap.(Season-160 days) KW 7350 7350 7350 7350 7350 7350 7350 7350 7350 7350
Exportable Cap.(off-season-140 days) KW 9650 9650 9650 9650 9650 9650 9650 9650 9650 9650
Number of Hours/Day(season) 22 22 22 22 22 22 22 22 22 22
Number of Hours/Day(off season) 24 24 24 24 24 24 24 24 24 24
Number of Working Days (season) 130 160 160 160 160 160 160 160 160 160
Number of Working Days(off-season) 140 140 140 140 140 140 140 140 140 140
Annual Exportable Capacity ('000 KWh) 53445 58296 58296 58296 58296 58296 58296 58296 58296 58296
Capacity utilisation 80% 90% 95% 95% 95% 95% 95% 95% 95% 95%
Annual Power Sold to MSEB ('000 KWh) 42756 52466 55381 55381 55381 55381 55381 55381 55381 55381
Annual Sale to MSEB ('000 KWh) 42756 52466 55381 55381 55381 55381 55381 55381 55381 55381
A) Season Operation ( 160 Days)
Sale of Power to MSEB ('000 KWh) 25872 16817 23285 24578 24578 24578 24578 24578 24578 24578 24578
Selling Price (Rs./KWH) 4.15 4.15 4.15 4.15 4.15 4.15 4.15 4.15 4.15 4.15
Annual Sales Realisation (Rs.Lakh) 698 966 1020 1020 1020 1020 1020 1020 1020 1020
Total Sales Value (Rs. Lakh) 698 966 1020 1020 1020 1020 1020 1020 1020 1020
ANNEXURE - 8
Total Annual Cogen Income 1774 2177 2298 2298 2298 2298 2298 2298 2298 2298
Total Annual Income (Sugar&Cogen) 11 8044 10490 11225 11225 11225 11225 11225 11225 11225 11225
Add: Opening Stock of WIP & FGs. 1436 1820 1913 1940 1968 2000 2034 2068 2104
8044 11927 13044 13138 13165 13193 13225 13258 13293 13329
Less:Closing Stock of WIP & FGs. 1436 1820 1913 1940 1968 2000 2034 2068 2104 2142
Total Annual Income (Sugar&Cogen) 6608 10107 11131 11197 11196 11193 11191 11190 11189 11187
ANNEXURE - 9
ANNEXURE - 10
Consumables
ANNEXURE - 11
PARTICULARS OF UTILITIES
(Rs.Lakh)
Operating Years
1 2 3 4 5 6 7 8 9 10
Water Requirement 18 19 20 21 22 23 24 25 27 28
(Avg. 1200 KL/day for 300 days @ Rs. 5 / KL)
Total 18 19 20 21 22 23 24 25 27 28
ANNEXURE - 12
ANNEXURE - 12
B. Supervisory Staff
Chief Engineer 1
330000 3 3 3 3 3 3 3 3 3 3
Electrical Engineer 2
270000 5 5 5 5 5 5 5 5 5 5
Mechanical Engineers 2
270000 5 5 5 5 5 5 5 5 5 5
Instrument Engineers 1
270000 3 3 3 3 3 3 3 3 3 3
Electricians/Fitters 6
150000 9 9 9 9 9 9 9 9 9 9
Sugar Factory Staff 350
120000 420 420 420 420 420 420 420 420 420 420
Sub-total wages 446 446 446 446 446 446 446 446 446 446
Add : Increment 10% 45 89 134 178 223 267 312 357 401
Add : Labour Welfare 25% 111 123 134 145 156 167 178 189 201 212
Total Supervisory Salaries 557 613 669 724 780 836 892 947 1003 1059
Total Direct Wages/Salaries 670 737 804 871 938 1005 1072 1139 1206 1273
Number of Employees 453
ANNEXURE - 13
On Buildings 1.0% 8 6 7 7 7 7 7 8 8 9
On Plant & Machinery 2.0% 87 103 109 109 109 114 120 126 132 139
On Other Fixed Assets 1.0% 3 2 2 2 2 2 2 2 3 3
Total 98 111 117 117 117 123 130 136 143 150
ANNEXURE - 14
Total 27 29 30 30 30 31 31 32 32 33
ANNEXURE - 15
sub-total 17 17 17 17 17 17 17 17 17 17
Add : Increment 10% 2 3 5 7 8 10 12 13 15
Add : Staff Welfare 25% 4 5 5 5 6 6 7 7 8 8
Total Staff Salaries 21 23 25 27 29 31 33 36 38 40
No.of Admin. Staff 7
ANNEXURE - 15
ANNEXURE - 16
ANNEXURE - 7
No.of season Days in Year 160 160 160 160 160 160 160 160 160 160
No. of off season days 140 140 140 140 140 140 140 140 140 140
Consumables and packing material 25 38 52 55 59 62 67 73 79 86 93
Bagasse / Biomass 37.5 86 101 112 118 124 130 136 143 150 158
Finished Goods (Sugar) 37.5 1330 1685 1787 1813 1841 1872 1904 1937 1972 2008
Work-In-Progress (WIP) 3 106 135 126 127 128 129 130 131 132 133
Book Debts for Cogen 25 277 340 359 359 359 359 359 359 359 359
Total Current Assets 1837 2313 2440 2476 2514 2557 2602 2649 2699 2751
Net Working Capital 1837 2313 2440 2476 2514 2557 2602 2649 2699 2751
Stipulated Margin money (% 25% 459 578 610 619 628 639 650 662 675 688
of Net Working Capital)
Maximum permissible Bank Borrowings 1378 1735 1830 1857 1885 1918 1951 1987 2024 2064
Annual interest charges 13.0% 179 226 238 241 245 249 254 258 263 268
ANNEXURE - 17
ANNEXURE - 17
No. of Instalments 10
Rate of Interest 0.135
ANNEXURE - 17
SCHEDULE - B
SCHEDULE - B
A. Estimated cost of manufacture 4238 6805 7529 7709 7825 7954 8090 8232 8379 8532
G. EBIDT 2292 3219 3515 3393 3268 3126 2978 2824 2663 2496
Financial Expenses:
1. Interest on Cogen Loan(s) 17 338 324 267 211 155 99 42 0 0 0
2. Interest on Sugar Loan 17 296 283 234 185 136 86 37 0 0 0
3. Interest on SDF Loan 17 116 116 116 110 87 64 41 17 0 0
4. Int. on borrowing for W/C 7 179 226 238 241 245 249 254 258 263 268
H. Total Financial Expenses 929 949 856 748 623 498 374 276 263 268
I. Income before depn. 1363 2270 2659 2645 2645 2628 2604 2548 2400 2227
J. Depreciation 18 362 362 362 362 362 362 362 362 362 362
K. Preliminary expenses w/o 2 2 2 2 2 2 2 2 2 2
L. Operating profit 998 1906 2294 2281 2281 2263 2240 2184 2036 1863
M. Provision for taxation 19 120 229 275 273 273 769 761 742 692 633
N. Profit After Tax (PAT) 879 1677 2019 2008 2007 1494 1479 1442 1344 1230
O. Dividend 19 0 0 0 0 0 0 0 0 0 0
P. Retained Earnings 879 1677 2019 2008 2007 1494 1479 1442 1344 1230
M. Cumulative Retained Earnings 879 2556 4575 6583 8590 10084 11563 13005 14349 15578
ANNEXURE - 19
SCHEDULE - C
Profit after tax 879 1677 2019 2008 2007 1494 1479 1442 1344 1230
Depn.+Preliminary Exps. 364 364 364 364 364 364 364 364 364 364
Project fixed asset cost w/o 0 0 0 0 0 0 0 0 0 0
Interest On Term Loan 633 607 501 396 290 185 79 0 0 0
Total Inflow 1876 2649 2885 2768 2662 2043 1922 1806 1708 1594
Total Outflow 633 1389 1284 1350 1245 1139 1034 172 0 0
SCHEDULE - D
Sources of Funds:
EBIT 1927 2855 3150 3029 2904 2761 2614 2460 2299 2131
Depreciation 362 362 362 362 362 362 362 362 362 362
Preliminary expenses, Know how 2 2 2 2 2 2 2 2 2 2
Investment allowance
Increase in
a)Capital 2072
b)SDF Quasi Equity 861
c)Secured Term Loans 4692
c)GoM Capital Subsidy 0
d)Cash Credit Facility 1378 357 95 27 28 32 34 36 37 39
Sale of fixed assets
Sale of investments
Internal Cash Accruals
Decrease in Exps.
Decrease in current assets
TOTAL SOURCES OF FUNDS 7626 3669 3576 3610 3420 3296 3158 3012 2860 2701 2535
SCHEDULE - D
TOTAL DISPOSN. OF FUNDS 7216 2886 2435 2040 1840 1716 2093 1962 1065 1005 954
Opening cash balance 0 410 1194 2334 3904 5485 7066 8131 9181 10975 12671
Accrual/deficit 410 784 1141 1570 1581 1580 1066 1050 1794 1696 1581
Closing cash balance 410 1194 2334 3904 5485 7066 8131 9181 10975 12671 14252
SCHEDULE - E
Sub total 2934 3812 5490 7509 9517 11524 13018 14497 15938 17282 18512
Loan funds
Secured Term Loans 4692 4692 3910 3128 2346 1564 782 0 0 0 0
Cash credit facility 0 1378 1735 1830 1857 1885 1918 1951 1987 2024 2064
FC Loan
SDF Loan
Sub total 4692 6070 5645 4958 4203 3449 2700 1951 1987 2024 2064
Total 7626 9883 11135 12467 13720 14973 15718 16448 17925 19307 20576
SCHEDULE - E
Net current assets 410 3031 4647 6344 7961 9579 10688 11783 13624 15370 17003
Misc.exps.to the extent not w/o 20 18 16 14 12 10 8 6 4 2 0
Total 7626 9883 11135 12467 13720 14973 15718 16448 17925 19307 20576
Balance sheet check 0 0 0 0 0 0 0 0 0 0 0
SCHEDULE - F
SCHEDULE - G
PAYBACK PERIOD
(Rs.Lakh)
Years PAT DEP Prelim. Total Cash Net Years
Expns. Cash outgo Cash
Inflow Inflow
7626 7626
1 879 362 0 2 1243 -6383
2 1677 362 0 2 2042 -4341
3 2019 362 0 2 2384 -1958
4 2008 362 0 2 2372 414
5 2007 362 0 2 2372 2786
6 1494 362 0 2 1858 4645
7 1479 362 0 2 1843 6488
8 1442 362 0 2 1806 8293
9 1344 362 0 2 1708 10002
10 1230 362 0 2 1594 11596
SCHEDULE - H
Gross cash inflow -317 1629 2276 2336 2334 1815 1798 1759 1659 1542
Add : Inventory 2392
Add :Terminal Value of Project % 381
-2934 -317 1629 2276 2336 2334 1815 1798 1759 1659 4315
IRR 43.17%
Means of Finance :
1. Cogen Proj.-JSL's Equity 703 0 703
2. Sugar Proj.- JSL's Equity 0 1369 1369
3. SDF Quasi Equity 861 0 861
4. F.I.Loan(s) 2502 2190 4692
Total 4067 3559 7626