TERM LOAN PAYMENT SCHEDULE

LOAN AMOUNT Rs. 10,000,000.00 SCHEDULED PAYMENTS Rs. 2,302,242.60

ANNUAL INTEREST RATE 16.00% SCHEDULED NUMBER OF PAYMENTS 8

LOAN PERIOD IN YEAR 8 DISCOUNT FACTOR 4.34359
NUMBER OF PAYMENTS IN YEAR 1
START DATE 1-Jan-17 TOTAL INTEREST Rs. 18,461,411.99

PAYMENT NO. DATE BEGINING BALANCE INSTALLMENT INTEREST PRINCIPLE ENDING BALANCE CUMMULATIVE INTEREST
1 1-Jan-18 10,000,000.00 2,302,242.60 1,600,000.00 702,242.60 9,297,757.40 1,600,000.00
2 1-Jan-19 9,297,757.40 2,302,242.60 1,487,641.18 814,601.42 8,483,155.98 3,087,641.18
3 1-Jan-20 8,483,155.98 2,302,242.60 1,357,304.96 944,937.64 7,538,218.34 4,444,946.14
4 1-Jan-21 7,538,218.34 2,302,242.60 1,206,114.93 1,096,127.67 6,442,090.67 5,651,061.07
5 1-Jan-22 6,442,090.67 2,302,242.60 1,030,734.51 1,271,508.09 5,170,582.58 6,681,795.58
6 1-Jan-23 5,170,582.58 2,302,242.60 827,293.21 1,474,949.39 3,695,633.19 7,509,088.79
7 1-Jan-24 3,695,633.19 2,302,242.60 591,301.31 1,710,941.29 1,984,691.90 8,100,390.10
8 1-Jan-25 1,984,691.90 2,302,242.60 317,550.70 1,984,691.90 0.00 8,417,940.81

WORKING CAPITAL LOAN PAYMENT SCHEDULE

LOAN AMOUNT Rs. 10,000,000.00 SCHEDULED PAYMENTS Rs. 3,717,386.71

ANNUAL INTEREST RATE 18.00% SCHEDULED NUMBER OF PAYMENTS 4

LOAN PERIOD IN YEAR 4 DISCOUNT FACTOR 2.69006
NUMBER OF PAYMENTS IN YEAR 1
START DATE 1-Jan-19 TOTAL INTEREST Rs. 4,869,546.84

PAYMENT NO. DATE BEGINING BALANCE INSTALLMENT INTEREST PRINCIPLE ENDING BALANCE CUMMULATIVE INTEREST
INTERNAL RATE OF RETURN (SHORTCUT METHOD )
LOAN AMOUNT Rs. 10,000,000.00
LOAN PERIOD IN YEAR 8

YEAR CASH IN FLOW CASH OUT FLOW

0 10,000,000.00 -
1 - 2,302,242.60
2 - 2,302,242.60
3 - 2,302,242.60
4 - 2,302,242.60
5 - 2,302,242.60
6 - 2,302,242.60
7 - 2,302,242.60
8 - 2,302,242.60

B0= 8,417,940.81
B1= 82880733.637548
B2= 193388378.48761
B3= 290082567.73
 T C T.C (T-1).T.C (T-2).(T-1).T.C
1 2,302,242.60 2,302,242.60 0.00 0.00
2 2,302,242.60 4,604,485.20 4,604,485.20 0.00
3 2,302,242.60 6,906,727.80 13,813,455.61 13,813,455.61
4 2,302,242.60 9,208,970.40 27,626,911.21 55,253,822.43
5 2,302,242.60 11,511,213.01 46,044,852.02 138,134,556.06
6 2,302,242.60 13,813,455.61 69,067,278.03 276,269,112.13
7 2,302,242.60 16,115,698.21 96,694,189.24 483,470,946.22
8 2,302,242.60 18,417,940.81 128,925,585.66 773,553,513.95
TOTAL 18,417,940.81 82,880,733.64 386,776,756.98 1,740,495,406.39

X= 44120819188658600000000.00 Y= 15.99%

Y= 275912210745217000000000.00
PROJECT COST

LAND Rs. 4800000

LAND DEVELOPMENT Rs. 200,000
BUILDING Rs. 800,000
PLANT,MACHINERY AND ELECTRICAL Rs. 17,500,000
TRANSPORT Rs. 300,000
MISCELLANEOUS ASSETS Rs. 900,000
PRELIMINARY AND OPERATIVE EXPENSES Rs. 400,000
CONTINGENCY Rs. 1,110,000
WORKING CAPITAL MARGIN Rs. 500,000

TOTAL Rs. 26,510,000

MEANS OF FINANCE

CAPITAL Rs. 7,953,000

TERM LOAN Rs. 18,557,000

TOTAL Rs. 26,510,000

COST OF PRODUCTION AND PROFITABILITY ESTIMATE
YEAR 0 YEAR 1 YEAR 2 YEAR 3 YEAR 4
Capcity Utilization 50% 55% 60% 65%

Sales Realization 365,000,000.00 ### ### ###

Cost of Production
Raw Material 3,500,000.00 3,818,181.82 4,165,289.26 4,543,951.92
Power 2,000,000.00 2,181,818.18 2,380,165.29 2,596,543.95
Fuel 4,800,000.00 5,236,363.64 5,712,396.69 6,231,705.48
Consumables 3,600,000.00 7,418,181.82 8,092,561.98 8,828,249.44
Wages and Salaries 16,400,000.00 17,876,000.00 19,484,840.00 21,238,475.60
Repairs and Maintanance 700,000.00 749,000.00 801,430.00 857,530.10
Factory Supervision 165,000.00 181,500.00 199,650.00 219,615.00
Depriciation 1,750,000.00 2,065,500.00 2,065,500.00 2,065,500.00
26,115,000.00 32,108,363.64 34,809,271.24 37,753,322.05
Administrative and
Selling Overheads
Administrative Expenses 360,000.00 378,000.00 396,900.00 416,745.00
Selling Expenses 420,000.00 462,000.00 508,200.00 559,020.00
780,000.00 840,000.00 905,100.00 975,765.00

Gross Profit before Interest 338,105,000.00 ### ### ###

and Tax

Financial Charges
Interest on Term Loan 1,600,000.00 1,487,641.18 1,357,304.96 1,206,114.93
Interest on Working Capital Loan - 0.00 1,800,000.00 1,454,870.39 1,047,617.46
1,600,000.00 3,287,641.18 2,812,175.35 2,253,732.39

Profit After Interest 336,505,000.00 ### ### ###

Preliminary Expenses 180,000.00 180,000.00 180,000.00 180,000.00
Profit/Loss before Tax 336,325,000.00 ### ### ###
Provision for Tax 67,265,000.00 73,016,799.04 80,588,690.68 88,930,436.11
Profit/Loss after Tax 269,060,000.00 ### ### ###
Dividend 0.00 26,730,000.00 26,730,000.00 30,739,500.00
Retained Profit 269,060,000.00 ### ### ###
Depriciation 1,750,000.00 2,065,500.00 2,065,500.00 2,065,500.00
Preliminary Expenses 180,000.00 180,000.00 180,000.00 180,000.00
Net Cash Accurals 270,990,000.00 ### ### ###
Term Loan Payment - 702,242.60 814,601.42 944,937.64 1,096,127.67
W.C. Loan Payment - - 1,917,386.71 2,262,516.32 2,669,769.25
 YEAR 5 YEAR 6 YEAR 7 YEAR 8
70% 75% 80% 80%

### 587,836,150.00 646,619,765.00 711,281,741.50

4,957,038.45 5,407,678.31 5,899,285.43 6,435,584.11

2,832,593.40 3,090,101.89 3,371,020.25 3,677,476.63
6,798,224.17 7,416,244.54 8,090,448.59 8,825,943.92
9,630,817.57 10,506,346.44 11,461,468.84 12,503,420.55
23,149,938.40 25,233,432.86 27,504,441.82 29,979,841.58
917,557.21 981,786.21 1,050,511.25 1,124,047.03
241,576.50 265,734.15 292,307.57 321,538.32
2,065,500.00 2,065,500.00 2,065,500.00 2,065,500.00
40,962,428.13 44,460,477.97 48,273,514.90 52,429,931.60

437,582.25 459,461.36 482,434.43 506,556.15

614,922.00 676,414.20 744,055.62 818,461.18
1,052,504.25 1,135,875.56 1,226,490.05 1,325,017.33

### 542,239,796.47 597,119,760.05 657,526,792.57

1,030,734.51 827,293.21 591,301.31 317,550.70

567,058.99 0.00 0.00 0.00
1,597,793.50 827,293.21 591,301.31 317,550.70

### 541,412,503.25 596,528,458.74 657,209,241.86

180,000.00 0.00 0.00 0.00
### 541,412,503.25 596,528,458.74 657,209,241.86
98,120,754.82 108,282,500.65 119,305,691.75 131,441,848.37
### 433,130,002.60 477,222,766.99 525,767,393.49
30,739,500.00 35,043,030.00 35,043,030.00 39,248,193.60
### 398,086,972.60 442,179,736.99 486,519,199.89
2,065,500.00 2,065,500.00 2,065,500.00 2,065,500.00
180,000.00 0.00 0.00 0.00
### 400,152,472.60 444,245,236.99 488,584,699.89
1,271,508.09 1,474,949.39 1,710,941.29 1,984,691.90
3,150,327.72 0.00 0.00 0.00
PROJECTED BALANCE SHEET
YEAR 0 YEAR 1 YEAR 2 YEAR 3
LIABILITY:
Share Capital 7,953,000.00 7,953,000.00 7,953,000.00 7,953,000.00
Reserve/Surplus 0.00 ### 534,397,196.14 830,021,958.87
Term Loan 18,557,000.00 17,854,757.40 17,040,155.98 16,095,218.34
W.C. Loan 0.00 10,000,000.00 8,082,613.29 5,820,096.97
Unsecured Loan 0.00 0.00 0.00 0.00
Sundry Creditor 0.00 763,636.36 833,057.85 908,790.38
26,510,000.00 ### 568,306,023.27 860,799,064.57

ASSETS:
Fixed Assets 24,300,000.00 24,300,000.00 24,300,000.00 24,300,000.00
Accumulated Depriciation 0.00 2,065,500.00 4,131,000.00 6,196,500.00
Net Fixed Assets 24,300,000.00 22,234,500.00 20,169,000.00 18,103,500.00
Current Assets
(Inventory+Book Debts) 0.00 2,481,818.18 2,707,438.02 2,953,568.75
Preliminary Expenses 900,000.00 720,000.00 540,000.00 360,000.00
Cash/Bank Balance 1,310,000.00 ### 544,889,585.25 839,381,995.82
26,510,000.00 ### 568,306,023.27 860,799,064.57
 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8

7,953,000.00 7,953,000.00 7,953,000.00 7,953,000.00 7,953,000.00

### ### ### ### ###
14,999,090.67 13,727,582.58 12,252,633.19 10,541,691.90 8,557,000.00
3,150,327.72 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
991,407.69 1,081,535.66 1,179,857.09 1,287,116.82 1,287,116.82
### ### ### ### ###

24,300,000.00 24,300,000.00 24,300,000.00 24,300,000.00 24,300,000.00

8,262,000.00 10,327,500.00 12,393,000.00 14,458,500.00 16,524,000.00
16,038,000.00 13,972,500.00 11,907,000.00 9,841,500.00 7,776,000.00

3,222,074.99 3,514,990.90 3,834,535.53 4,183,129.67 4,183,129.67

180,000.00 0.00 0.00 0.00 0.00
### ### ### ### ###
### ### ### ### ###
CASH FLOW ESTIMATE
YEAR 0 YEAR 1 YEAR 2 YEAR 3
Source of Funds:
Share Capital 7,953,000.00 - - -
Profit - ### ### 405,755,628.76
Depriciation - 1,750,000.00 2,065,500.00 2,065,500.00
Preliminary Expenses - 180,000.00 180,000.00 180,000.00
Term Loan 18,557,000.00 - - -
W.C. Loan - 10,000,000.00 - -
Govt. Subsidy - - - 3,500,000.00
26,510,000.00 ### ### 411,501,128.76

Disposition of Funds:
Capital Expenditure 24,300,000.00 - - -
Working Capital - 10,500,000.00 - -
Preliminary Expenses 900,000.00 - - -
Repayment of Term Loan - 702,242.60 814,601.42 944,937.64
Repayment of W.C. Loan - - 1,917,386.71 2,262,516.32
Interest on Term Loan - 1,600,000.00 1,487,641.18 1,357,304.96
Interest on W.C. Loan - 0.00 1,800,000.00 1,454,870.39
Tax - 67,265,000.00 73,016,799.04 80,588,690.68
Dividend - 0.00 26,730,000.00 26,730,000.00
25,200,000.00 80,067,242.60 ### 113,338,319.99

Opening Balance of Cash - 1,310,000.00 ### 544,889,585.25

Net Surplus/Deficit 1,310,000.00 ### ### 298,162,808.77
Cloasing Balance/Cash in Hand 1,310,000.00 ### ### 843,052,394.02
 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8

- - - - -
446,905,912.95 492,201,567.62 542,239,796.47 597,119,760.05 657,526,792.57
2,065,500.00 2,065,500.00 2,065,500.00 2,065,500.00 2,065,500.00
180,000.00 180,000.00 0.00 0.00 0.00
- - - - -
- - - - -
3,675,000.00 3,858,750.00 4,051,687.50 4,254,271.88 4,466,985.47
452,826,412.95 498,305,817.62 548,356,983.97 603,439,531.92 664,059,278.04

- - - - -
- - - - -
- - - - -
1,096,127.67 1,271,508.09 1,474,949.39 1,710,941.29 1,984,691.90
2,669,769.25 3,150,327.72 0.00 0.00 0.00
1,206,114.93 1,030,734.51 827,293.21 591,301.31 317,550.70
1,047,617.46 567,058.99 0.00 0.00 0.00
88,930,436.11 98,120,754.82 108,282,500.65 119,305,691.75 131,441,848.37
30,739,500.00 30,739,500.00 35,043,030.00 35,043,030.00 39,248,193.60
125,689,565.42 134,879,884.13 145,627,773.25 156,650,964.35 172,992,284.57

839,381,995.82 ### ### ### ###

327,136,847.53 363,425,933.48 402,729,210.71 446,788,567.57 491,066,993.46
### ### ### ### ###