PROJECT REPORT

SHREE ADHYASHAKTI METALS PRIVATE LIMITED

 Factory Site :
Shivdhara Industrial Zone, Survey no. 333-334, Kuvadva wankaner
Highway, 4.5 KM from Kuvadva Chowk , AT VILLAGE - JIYANA, TALUKA :-
RAJKOT , DIST:- RAJKOT

Prepared By:
Sonecha & Amlani, Chartered Accountants
“S & A House” Near. Golden City, Khodiyar Colony 80ft Road, B/H Saru Section
Road Police Headquarters, Jamnagar.
Contact No. : 99980 16681
TABLE OF CONTENT

PARTICULARS PAGE NO.

1. Executive Summary
a. Company at a glance 4
b. Project at a glance 4-6
c. Financial Highlight 7
2. Industry Overview 8-11
3 About the Company & Key management personnel 12-14
4. Brief About the project
 Project Details 15-16
 Project Cost 16
 Project Implementation Schedule 16
 Project Present Status & Layout Plans 17 -19
 Manufacturing Process 20-21
 Production Economics 22-23
 Machinery & Other Utilities 24-27
 End Products & Quality Assurance 28-29
 Marketing & Demand Drivers 29-30
5. Financial Projection
a. Cost of Project & Means of Finance - Exhibit A 31
b. Projected Profit & Loss Account - Exhibit B 32
c. Projected Balance Sheet - Exhibit C 33
d. Cash Flow Statement - Exhibit D 34
e. Statement of Net Working Capital - Exhibit E 35
f. Schedules of Profit & Loss Account Schedule B1 to B4 36-37
g. Statement of DSCR - Exhibit F 38
h. Key Financial Ratio 38
I, Fixed Asset Schedule B5 39
j Repayment Schedule B6 40-41

K CMA Data 42-50

6 Notes on Financial Projections 51
7 SWOT Analysis 52
 Executive Summary

Company at a glance :-

Name of the Unit SHREE ADHYASHAKTI METALS PRIVATE LIMITED

Registered Office Office No. A/409, “Om Decora 9 Square” Building, Nana Mava Road,
Rajkot
Factory Address Survey no. 333-334, Kuvadva wankaner Highway, 4.5 KM from
Kuvadva Chowk , jiyana, Rajkot
Constitution PRIVATE LIMITED COMPANY
Date of Incorporation 18th March, 2021
Name of Directors 1. Vishakha Chirag Shah
2. Chiragbhai shah
3. Sanjaybhai Bhesaniya

Company Identification No. U37100GJ2021PTC121294

PAN No ABFCS7187P

GST No. To be Applied

SME/SSI Registration No. To be Applied
Project at a glance :-

Line of Activities At Present, the proprietary firm of the promoter i.e. Arihant
Enterprise is presently engaged in the wholesale trading of Metal
Scrap which mainly includes Aluminum Scrap, Aluminum Ingots,
Copper Scrap and such type of metal scrap which is being used in the
various industries as raw material.

Major Customers of the firm includes :

Palco Recycling Industries, Ahmedabad
Shreeji Extrusion, Ahmedabad
Shreenath Alloys, Ahmedabad
Ambika Metals,

4
 sarthak metals,

Brief about Proposed Activity The company is proposed to engage in the Production of Aluminum
& Product Ingot Product which mainly includes Cubes, Notch Bar and Ingots. For
producing the same, the firm has decided to purchase the Plant &
Machinery having annual production capacity of 6000 MT, As there is
no any such plant in Rajkot at present. For the said manufacturing
plant, the firm has to import the Aluminum Scrap Material on the
advance payment basis.
For the proposed manufacturing activity, the company will be

required to Import the Raw Material on advance payment basis (App

20% Booking Amount) and generally average lead time for import of

Raw Material is 45 Days, apart from the working capital cycle of the

App. 30 Days. In view of the same, the company is proposing the

working capital requirement of Rs. 4 Crore and term Loan of RS. 1.5

Crore.

Project Implementation February - 2023 to April – 2023

period
Proposed Commercial 01 may 2023
Production Date
Proposed Financial 1) Term loan of Rs. 1.50 Crores (Rs 2.08 Crores Machinery Cost Less -
Assistance Margin ) for Purchase of Plant & machinery with. - having App. Total
cost of RS 2.08 Crores
2) Working Capital Facility of Rs. 4 Crores
Disbursement and Disbursement Period 01/03/2023 to 31/03/2023
Repayment period Moratorium Period 01/03/2023 to 30/11/2023(9 Months)
Repayment Period 01/12/2023 to 28/02/2030 (75 Months)
Details of Securities Offered Primary Securities :

5
 1. Hypothecation of Plant & Machinery having App. Value of
Rs.2.08 Crores.
2. Hypothecation of Stock & Book-Debts of the firm having
Estimated App. Value of Rs,5.53 Crores.

Colletral Security Details :

Particular/ Address of App. Market Value ( Rs. In

Name of Owner
Property Lakhs)

Flat-1450
At Tulip kalawad road, 175.00
Sanjaybhai Bhesaniya
Rajkot

Office 9 square,
Vishakha Chirag Shah At nana mava 75.00

Term loan to be covered under

CGTMSE 150.00

Total Collateral Security 400.00

Total Security ( Primary
1153(753+400)
+Collateral)
Proposed Facilities : Term Loan 150.00
Working Capital Limit 400.00
Total 550.00
Security Coverage Ratio Collateral Security 72.72%(400/550)
Coverage Ratio

Total Security Coverage 209.63%(1153/550)

Ratio

6
 Financial Highlight of the project :-

( Rs. In Lakhs)

Particulars Projected Projected Projected Projected Projected Projected Projected

2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Net sales : 4854.60 5728.24 6492.07 7296.58 8143.51 9034.69 9972.01

Gross Profit 266.86 320.77 361.55 404.05 448.32 494.39 542.31

Net p/l 29.80 71.95 103.38 136.03 169.92 206.40 242.84

Gross Profit Ratio 5.33 5.58 5.55 5.52 5.49 5.46 5.42

Net Profit Ratio 0.61 1.26 1.59 1.86 2.09 2.28 2.44

TOL/TNW 4.24 2.73 1.79 1.21 0.85 0.62 0.46

Quasi TOL/TNW 2.51 1.81 1.28 0.91 0.66 0.49 0.37

DSCR 2.69 2.75 3.80 5.04 6.50 8.23 11.23

Current ratio 1.35 1.49 1.70 1.98 2.34 2.92 3.45

7
 Industry Overview

The aluminum ingot industry is a major global industry, with global aluminum ingot production estimated at
over 58 million metric tons annually. The aluminum ingot industry has been in existence since the late 1800s,
when the first aluminum ingot was produced in Germany. Since then, the industry has grown significantly,
with aluminum ingots now being used in a wide variety of applications, from aerospace and automotive to
construction and electrical components. Over the past few decades, the industry has seen steady growth, and
is expected to continue to grow at a steady pace over the next several years. In 2019, the top producers of
aluminum ingots were China, Russia, and the United States, with a combined output of approximately 29
million metric tons. China was the largest producer, with an estimated 15.5 million metric tons produced in
2019, representing about 27% of global production. Russia was the second-largest producer, with an
estimated 8.5 million metric tons produced in 2019, representing about 15% of global production. The United
States was the third-largest producer, with an estimated 5 million metric tons produced in 2019, representing
about 8% of global production. Aluminum ingots are primarily used in the production of aluminum products
such as aluminum sheet, foil, and extrusion products. In 2019, the global aluminum sheet and foil market was
valued at approximately $90 billion. The global aluminum extrusion products market was estimated at $74
billion in 2019. In 2019, the global aluminum ingot industry was valued at approximately $31 billion and is
expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2020 to 2027. The growth of the
aluminum ingot industry is driven by factors such as increasing demand for aluminum products from the
automotive and aerospace industries, increasing demand for lightweight materials, and growing urbanization
and infrastructure development.
The aluminum ingot industry is one of the largest industries in the world. Aluminum ingots are used for a
variety of purposes, including manufacturing aircraft, automobiles, and other industrial products. The
industry produces a variety of sizes and shapes of ingots, and the industry is highly competitive. Aluminum
ingots are produced through a process called smelting, which involves melting pure aluminum ore in a furnace
and then cooling it to form an ingot. This process produces a high-purity, high-strength material that is
suitable for a wide range of applications. The aluminum ingot industry is known for its high production
efficiency and low costs, making it attractive to many businesses.

Additionally, the industry has developed sophisticated techniques for surface finishing and heat treatment of
the ingots, which can improve the product’s strength and durability. The aluminum ingot industry is also
characterized by a large amount of specialization. Many companies specialize in specific types of ingots, and
some specialize in certain sizes or shapes. This specialization allows companies to produce a wide range of
products that meet the needs of their customers. Additionally, the industry is highly regulated, with
governments and industry associations setting standards for quality and safety. Overall, the aluminum ingot
industry is an important and growing industry that provides a wide range of products for many industries. The
industry is highly competitive and has invested heavily in research and development to remain at the forefront
of the industry. As demand for aluminum increases, the industry is likely to continue to grow and develop.

Currently, the global aluminum ingot market is estimated to be worth over $50 billion, with annual production
estimated to be in the range of 15 to 20 million tons.

8
Indian metal industry:
The Indian metal industry is a major contributor to the Indian economy. It includes a wide range of industries
such as steel, aluminum, copper, zinc, nickel, lead and tin. The Indian metal industry is one of the largest and
most dynamic industries in India. It is a major source of employment and contributes significantly to the GDP.
The Indian metal industry has witnessed major growth in recent years. It has grown at an average rate of 8.9%
in the past five years and is expected to continue to grow at a similar pace. The Indian metal industry is focused
on the production of a wide range of metals such as iron, steel, aluminum, copper, zinc, nickel, lead and tin.
It is also involved in the production of a range of value-added products such as alloy steels, stainless steels,
non-ferrous alloys, and forgings. The Indian metal industry is supported by a wide range of government
policies and initiatives. The government has implemented various reforms and initiatives to support the
growth of the industry.

Indian aluminum ingot industry:

The aluminum ingot industry is an important part of the metals industry in India. The industry has grown
rapidly over the past few years, due to the increasing demand for aluminum products in the country.
According to the Aluminum Association of India, the total aluminum ingot production in India was estimated
to be around 3.2 million metric tons in 2018. This was a significant increase from 2017, when the total
production was 2.6 million metric tons. The aluminum ingot industry has a large presence in the Indian
economy, accounting for around 6.3% of the total manufacturing sector in India. The industry is also an
important source of employment, with an estimated 1.5 million people employed directly or indirectly in the
industry. The aluminum ingot industry in India is highly competitive, with several major players in the market.
These include Hindalco Industries, NALCO, Vedanta, and Jindal Aluminum. These companies have invested
heavily in increasing their production capacities and improving the quality of their products. The aluminum
ingot industry in India has also seen a significant growth in exports in recent years. In 2018, exports of
aluminum ingots from India amounted to around 1.3 million metric tons. This was an increase from 2017,
when exports stood at 1.2 million metric tons. The majority of exports were to China, the United States, and
Europe. Overall, the aluminum ingot industry in India is an important part of the metals industry in the
country, and is expected to continue to see strong growth in the coming years.

FACTORS THAT ENSURES A BRIGHT FUTURE FOR THE METAL INDUSTRY AND ALUMINUM INGOT INDUSTRY
IN INDIA
1. Availability of Raw Materials: India has some of the world’s largest reserves of iron ore, bauxite and
manganese, which is a key factor in ensuring a bright future for the metal and aluminum ingot industry in
India.
2. Government Support: The Indian government is providing incentives and support to promote the growth
of the metal and aluminum ingot industry in India. This includes incentives such as subsidies, tax exemptions
and other incentives, which are helping to attract investments and increase production capacity.
3. Growing Demand: India’s growing population, rising urbanization, and rapid industrialization are creating a
huge demand for metal and aluminum ingots. This demand is expected to continue to grow in the coming
years, providing a major boost to the industry.
4. Technological Advancement: The metal and aluminum ingot industry in India is witnessing significant
technological advancements. This is enabling the industry to become more efficient and cost-effective.

9
5. Foreign Investment: Increasing foreign investments in India is also helping to fuel the growth of the metal
and aluminum ingot industry in India. This is helping the industry to expand, modernize and improve its quality
standards.
Utilization of Technology progressions
Technology progressions are used to improve the production and quality of aluminum ingot. The most
common technology advancements include:
1. Automation of the ingot-making process using robotic automation and programmable logic controllers
(PLCs).
2. Improved casting techniques, such as vacuum casting, which reduces the porosity of the ingot and improves
its strength.
3. Computer numerical control (CNC) machining of the ingot to ensure precise dimensions.
4. Improved testing and inspection techniques to ensure quality and uniformity of the ingot.
5. Digital process control technology to monitor and adjust the process parameters in real-time.
6. Use of advanced materials and alloys for improved strength and corrosion resistance.
7. Improved heat treatment processes to enhance the properties of the ingot.
8. Use of advanced computer simulation software to predict and optimize the performance of the ingot.

10
Quantifying environmental impacts of primary aluminum ingot production and consumption: A
trade-linked multilevel life cycle assessment

11
 About the company & Key management personnel

SHREE ADHYASHAKTI METALS PRIVATE LIMITED, has been incorporated on 18th March, 2021 with the main
object of carrying out the business in the metal sector. The Company has been incorporated by three people
Vishakha Chirag Shah, Chiragbhai shah, Sanjaybhai Bhesaniya, having vast experience of wholesale
trading of Metal Scrap which mainly includes Aluminum Scrap, Aluminum Ingots, Copper Scrap and
such type of metal scrap which is being used in the various industries as raw material . After doing the
market survey & study and considering the vast experience of the promoters in the wholesale trading of
Metal Scrap business, the promoters have decided to establish Production of Aluminum Ingot Product.
The company has planned for set up of Aluminum Ingot Unit having production capacity of 6000 MT p.a.

Management: The affairs of the business will be managed by the effective combination of young, and
experienced promoters. The management will be supported by team of technically qualified expert and
experienced staff. Brief Personal Bio-data of all the Director of the company is as follows :

12
1. Vishakha Chirag Shah :
Full Name VISHAKHAKUMARI CHIRAG SHAH

Residence PRAGTI NIVAS

SHRINATHJI PARK -2
NR. BANDULILA PARK
RAILNAGAR
Rajkot
Rajkot Gujarat - 360001
Birth Date 13/06/1992

PAN AQDPT4039R

Functional Role & Her functional responsibilities in the company will be Admin and marketing. The
Responsibility in administrative role is focused on ensuring the smooth functioning of the unit, while
the Proposed the marketing role is focused on promoting the unit's products and services to the
Unit target market.

2. Chiragbhai shah:
Full Name Chirag mahendrabhai shah

Residence PRAGTI NIVAS

SHRINATHJI PARK -2
RAILNAGAR
NR. BANDULILA PARK
Rajkot
Rajkot Gujarat - 360004
Birth Date 21/04/1993

PAN DOPPS4437M

Functional Role & His functional responsibilities in the company will be Procurement production and
Responsibility in all commercial matter. The procurement role is focused on purchasing goods and
the Proposed services, the production role is focused on overseeing the production process, and
Spinning Unit the commercial role is focused on managing the unit's financial and contractual
obligations.

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3. Sanjaybhai Bhesaniya:
Full Name Sanjay Dhirubhal Bhesaniya

Residence 201 Tulip Appartment,,

Opp Saint Mary School..
Kalawad Road,, Rajkot,
Rajkot, Rajkot,
Gujarat 360005
Birth Date 08/08/1977

PAN AFAPB1268A

Functional Role & His functional responsibilities in the company will be Accounts and finance. The
Responsibility in accounts role is focused on bookkeeping and financial reporting, while the finance
the Proposed role is focused on managing the unit's financial resources and making informed
aUnit financial decisions.

14
 Brief about the Project

Project Details

Factory Site :-

SHREE ADHYASHAKTI METALS PRIVATE LIMITED has taken on lease from SAGAR CHANDRAKANTBHAI
SAGAPARIYA, project property admeasuring 7450.72 Sq Mt Survey no. 333-334, Kuvadva wankaner
Highway, 4.5 KM from Kuvadva Chowk , jiyana, Rajkot

Construction to be completed by owner of land and Total Built up area is 25000 Sq Ft and Owner has already
started civil work of the factory building. Company has also taken quotations and working out for raising
purchase orders for Plants & Machinery to the reputed suppliers for erection of the Plant at the project site.

Availability of Raw Material & Labour :-

 Aluminum scrap is widely available as a raw material for various industries, including the aluminum
Ingot production industry. Aluminum scrap is generated from various sources, such as end-of-life
vehicles, consumer electronics, building and construction materials, and industrial manufacturing
processes. The abundance of aluminum scrap means that it is a readily available and cost-effective
raw material for aluminum Ingot production. To meet the rising demand, a significant amount of
aluminum Scrap are imported into the country from various countries.

 Aluminum scrap is widely available globally, and its availability from outside India will depend on
various factors such as geographical location, production volumes, and trade agreements.
There are many countries that are significant producers of aluminum scrap, including the United
States, Europe, and Asia. In recent years, there has been a growing trend towards aluminum scrap
recycling, which has increased its availability as a raw material.

The availability of labor for an aluminum ingot manufacturing business in Gujarat, India, would
depend on the specific location and the specific skills and experience required for the job.
Gujarat and in particular Rajkot is a major industrial hub in India, with a strong presence in the
manufacturing sector, including the aluminum industry. As a result, there is likely to be a large pool
of available labor in the Rajkot, with a mix of skilled and unskilled workers. However, the availability
of labor with specific skills and experience required for the aluminum ingot manufacturing process
may vary.
In recent years, the government of Gujarat has implemented various initiatives to promote the
growth of the state's industries, including the aluminum sector. These initiatives are expected to
result in an increased availability of skilled labor for the industry.

15
 In summary, the availability of labor for an aluminum ingot manufacturing business in Gujarat,
India, is likely to be good, but the availability of workers with specific skills and experience may
vary depending on the specific requirements of the job.

The specific benefits for duty-free importing of scrap for the ingot business vary depending on the
country and its trade policies. However, in general, countries may offer duty-free importing of scrap
for the purpose of promoting recycling and reducing the environmental impact of waste.

For example, in India, the Ministry of Environment, Forest, and Climate Change has implemented a
policy allowing duty-free import of scrap aluminium for the purpose of recycling.

x`
Project Cost

Project Property will be taken on lease from SAGAR CHANDRAKANTBHAI SAGAPARIYA,

 Estimated plant & Machinery cost will be Rs.2.00 Crore

 Estimated Preliminary & Pre-Operative cost will be Rs. 0.08 Crore.

Project Implementation Schedule

Sr. Likely date of Expected date of

Particular
No. Commencement Completion
1 Land
2 Site Development 01.02.2023 10.02.2023
3 Civil Works for
- Factory Building 05.02.2023 31.03.2023
- Machinery Foundation 31.03.2023
- Administrative Building 30.04.2023
4 Plant & Machinery
- Order Placement 15.02.2023 15.04.2023
- Delivery of Machinery 15.04.2023 15.04.2023
- Erection of equipment & Commissioning 15.04.2023 20.042023
5 Arrangement for Power 01.04.2023
6 Arrangement for Water Already Arranged
7 Acquisition of RM 10.03.2023 25.04.2023
8 Trial Run 26.04.2023 30.04.2023
9 Commercial Operations 01.05.2023

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Project Present Status & Layout Plans

The directors have taken on lease factory land admeasuring 7450.72 Sq Mt at Shivdhara Industrial Zone
Survey no. 333-334, Kuvadva wankaner Highway, 4.5 KM from Kuvadva Chowk , jiyana, Rajkot from
SAGAR CHANDRAKANTBHAI SAGAPARIYA and started the construction of factory building of App. 25000 Sq
Ft. and estimated to complete the same by march ,23. The Owner have almost completed the Land
Development & Compound Wall work of the Factory Premises and started the Plinth and foundation work of
the building. Brief Lay out plant of the building and machinery is given hereunder.

The company has also finalized quotation of the machineries with the reputed suppliers of the industry and
machineries are expected to arrive in April, 23 and company has estimated to commence commercial
production from May, 2023.

17
Building Layout Plan :

18
19
Manufacturing Process

20
1. Melting: Aluminum ingots are produced by melting aluminum scrap or aluminum oxide in a furnace.

2. Casting: The molten aluminum is then poured into a mold to form an ingot.

3. Cooling: The ingot is then cooled and solidified.

4. Finishing: The ingot is then cut into smaller pieces and inspected for quality.

5. Packaging: The ingots are then packaged for shipment.

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Production Capacity ,Yield & Profitability Assumptions:

Particulars Total Unit

(a) Installed Capacity MT 20.00 20.00 MT

per day
(b) Nos of Days of 300 300 Days
operation per year
(c) Total Installed 6,000.00 6,000.00 MT
Production Capacity
MTs. (a x b)

Total @ 100% Capacity

Utilisation
FG Product per year (in 6000.00 6000.00 MT
MT)
Burning Loss per year (in 2000.00 2000.00 MT
MT)
Raw Material Scrap 8000.00 8000.00 MT
Requirement per year (in
MT)

Basic assumptions of the proposed project are given in the table below:

Average Purchase price of Aluminum Aluminum scrape: Rs 125 Per Kg & Incremental Rate
scrape (MT) First year of 3% Per Annum
Average Sales Price of end product Aluminum ingot:
(KG) First year Product A 97 Grade: Approx. Rs 186 Per KG
Product B 98 Grade: Approx. Rs 192 Per KG
Product C 98.5 Grade: Approx. Rs 196 Per KG
& Incremental Rate of 3% Per Annum
Other Manufacturing Overhead for first
year mainly consisting of following
overheads :

 Fuel Rs.4 Per Kg ingot Production in the 1st Year with

incremental rate of 3% Per Annum.

Rs 2 Per Kg of ingot Production with incremental rate

 Spares & Maintenance & Other @ 3% Per Annum in subsequent years
Direct Overheads

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  Labour cost Rs. 3 Per Kg of ingot Production with incremental rate
@ 5% Per Annum in subsequent years

 Manufacturing overheads are estimated based on the industrial norms and manufacturers
specifications.

 Projected capacity utilization:

2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

45% 50% 55% 60% 70% 70% 75%

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 Details of Machinery and Other Utilities
ptions:
The process for the installation of a furnace is a complex and involved process, requiring careful planning,
preparation, and attention to detail. The steps involved include foundation preparation, placement and
leveling, piping and electrical connections, testing and commissioning, and training and maintenance. A
successful installation depends on the expertise of the installation team and the quality of the equipment and
materials used.

Krishiv Furnace and Rotary Furnace are two types of industrial furnaces used for various heating and
melting processes.

Krishiv Furnace: It is a type of batch type furnace where the charge is loaded and unloaded manually
in the furnace. This furnace is suitable for smaller production runs and is commonly used for casting,
heat treatment, and metal refining processes. Krishiv Furnaces are known for their high temperature
uniformity and consistent heating rate, making them ideal for sensitive material heating processes.

Rotary Furnace: It is a type of continuous type furnace where the charge is fed continuously into the
furnace and the finished product is removed continuously. This type of furnace is used for large-scale
production runs, and it is commonly used for lead recycling, iron ore reduction, and non-ferrous
metal smelting. Rotary furnaces have a high capacity and can operate continuously, making them
suitable for high-volume production. The main advantage of rotary furnaces is their high efficiency
and cost-effectiveness, as they require less energy and labor compared to batch type furnaces.

Features of machinery:

Furnace machinery is a crucial component in the production of aluminium ingots. Here are some of
the features of furnace machinery that are important in aluminium ingot production:

1. Temperature control: Furnace machinery must have the ability to accurately control temperature,
as aluminium ingot production requires high temperatures to melt the raw material.
2. Capacity: The size of the furnace must be appropriate for the scale of production. Furnace machinery
must be able to handle large quantities of raw material to meet production requirements.
3. Energy efficiency: Furnace machinery must be designed to maximize energy efficiency, reducing
energy costs and minimizing the environmental impact of production.
4. Safety: Furnace machinery must be designed with safety in mind, with features such as fire
protection systems, automatic shut-off systems, and explosion-proof design.
5. Automation: Furnace machinery must be equipped with automated controls, allowing for efficient
and consistent production processes.

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6. Durability: Furnace machinery must be built to last, with durable materials and components that can
withstand the demands of high-temperature production.
7. Maintenance: Furnace machinery must be designed with maintenance in mind, allowing for easy
access to components and systems for regular maintenance and repair.
8. Environmental protection: Furnace machinery must be designed to minimize emissions and waste,
helping to protect the environment and meet regulatory requirements.

In summary, the features of furnace machinery for aluminium ingot production must include
temperature control, capacity, energy efficiency, safety, automation, durability, maintenance, and
environmental protection. The right combination of these features can help to optimize production
processes, reduce costs, and ensure the production of high-quality aluminium ingots.

Detailed list of machinery :

No Description Make Amount GST Total

VAS
1 Optical Emission Spectrometer Spectrometers 26,11,000 469980 3080980
Aluminum Melting Rotary DHANVANTI 2550000 459000 3009000
Furnace ENGINEERING
2 PVT LTD
Aluminum Cube Casting DHANVANTI 2580000 464400 3044400
Conveyor ENGINEERING
3 PVT LTD
Aluminum Ingot Casting DHANVANTI 2350000 423000 2773000
Conveyor ENGINEERING
4 PVT LTD
DHANVANTI 160000 28800 188800
Service Oil Tank & Accessories ENGINEERING
5 PVT LTD
DHANVANTI 160000 28800 188800
Oil Pumping & Heating Unit ENGINEERING
6 PVT LTD
DHANVANTI 56000 10080 66080
Launder ENGINEERING
7 PVT LTD
DHANVANTI 1380000 248400 1628400
Pollution Control System ENGINEERING
8 PVT LTD
Aluminium Melting Crucible DHANVANTI 2100000 378000 2478000
Tilting Furnace ENGINEERING
9 PVT LTD
DHANVANTI 260000 46800 306800
Oil Heating & Pumping Unit ENGINEERING
10 PVT LTD

25
 DHANVANTI 149000 26820 175820
Service Oil Tank & Accessories ENGINEERING
11 PVT LTD
Pouring Distributor with 45000 8100 53100
complete Mount and adjustable
assembly for Aluminum DHANVANTI
Notchbar Casting ENGINEERING
12 PVT LTD
DHANVANTI 660000 118800 778800
Notch Bar Mould ENGINEERING
13 PVT LTD
Hood & Duct of Crucible Tilting DHANVANTI 300000 54000 354000
Furnaces ENGINEERING
14 PVT LTD
DHANVANTI 250000 45000 295000
INSTALLATION CHARGES ENGINEERING
15 PVT LTD
M.S TANK UMIYAJI 880000 158400 1038400
16 FABRICATION
SCREP HYD BUNDEL PRESS UMIYAJI 1120000 201600 1321600
17 FABRICATION
17611000 3169980 20780980
TOTAL MACHINERY PARTS

Installed Capacity:

Installed capacity of Ingot 20 Ton/Day is arrived by considering the Plant to be supplied by above mentioned
reputed supplier & technical opinion of experts/market review.

Particulars

Total @ 100% Capacity Utilization

FG Product per year (in MT) 6000.00

Burning Loss per year (in MT) 2000.00

Raw Material Scrap Requirement per year (in MT) 8000.00

26
Utilities required

 Power Connection : The firm has obtained temporary connection for the time being and
application for Power Connection of App. 100 KVA will be made in June 23.

 Water : The unit will have own Bore Well and it would be sufficient for the requirement of the unit.

 Manpower Requirement :

STAFF
DESIGNATION SHIFT I SHIFT II TOTAL MONTHLY TOTAL
1 Plant supervisor 1 30000 30000
2 Electrician 2 10000 20000
3 Maintenance 2 12000 24000
4 Logistics 1 15000 15000
5 Driver 1 15000 15000
6 Security 4 10000 40000
7 Quality incharge 1 40000 40000

8 Business development managers 1 60000 60000

9 Procurement manager 1 150000 150000
10 Import Handling 1 50000 50000
11 Accountant 1 30000 30000
16 494000

Total Monthly Manpower cost : 4.94 Lakhs

27
End Products & Quality Assurance

1) Aluminum ingot :
We manufacture 80 % aluminum ingot product.
The range of our products :
- 80% Aluminum ingot product– 97 Grade 98 Grade, 98.5 Grade
- 20% Cubes and Notch Bar Product

Quality Assurance:-

Being a quality conscious organization, we make sure to deliver only international standard range of
products. We are totally committed to meet the expectation of our clients by providing them finest quality
products.

Our team of experts will adhere to stringent product quality standards, and test the products in our lab at
various parameters before dispatching them. We strive hard to sustain the quality in our range of products.

Quality assurance is an important aspect of aluminium ingot manufacturing. It involves a set of

processes and procedures that ensure that the aluminium ingots produced meet established quality
standards. The following are some of the key quality assurance measures implemented by aluminium
ingot manufacturers:

1. Raw material inspection: The quality of the aluminium ingots starts with the quality of the raw
material. Aluminium ingot manufacturers typically inspect incoming raw aluminium material to
ensure that it meets established quality standards.
2. Process control: The manufacturing process for aluminium ingots must be closely controlled to
ensure consistent quality. This includes monitoring temperature, pressure, and other process
parameters to ensure that the aluminium ingots are produced with consistent properties.
3. Testing and inspection: Aluminium ingots are typically tested and inspected during and after the
production process to ensure that they meet established quality standards. This may include physical
testing, such as density and tensile strength testing, as well as visual inspection to ensure that the
ingots are free from defects.
4. Quality documentation: Aluminium ingot manufacturers typically maintain records of their quality
assurance processes, including incoming raw material inspection, process control, testing and
inspection, and final product release. This documentation provides a clear record of the quality of
the aluminium ingots produced and can be used to track and improve quality over time.

28
In conclusion, quality assurance is an important aspect of aluminium ingot manufacturing. It involves
a set of processes and procedures that ensure that the aluminium ingots produced meet established
quality standards, including raw material inspection, process control, testing and inspection, and
quality documentation. Implementing a robust quality assurance program helps aluminium ingot
manufacturers to produce high-quality aluminium ingots and meet the needs of their customers.

Marketing & Demand Drivers :

Marketing strategy
Marketing strategy of the Firm is based on the products type and the user segment. The Promoters are
having good experience in line of business as they are in metal business for many years. Director has already
dealing in the business of trading in Metal product. Hence they are having good and long lasting relationship
with many suppliers and customers who are always eager to have business relationship with the partners
due to their credibility, ethical values, quality consciousness.

The Firm also remains in regular interaction with corporate in the industry to know their requirement of
ingot for domestic and international markets.

After entering into ingot industry the promoters have extensive interaction with various ingot users, ingot
merchants/Brokers and exporters

List of Few Major Prospective Customers/Merchant Exporter :

Palco Recycling Industries, Ahmedabad

Shreeji Extrusion, Ahmedabad

Shreenath Alloys, Ahmedabad

Ambika Metals, Rajkot

sarthak metals, Maharashtra

29
 Demand Drivers
There are several demand drivers for aluminium ingot, including:

1. Construction Industry: Aluminium ingots are widely used in construction, especially in the building
and construction of high-rise buildings, bridges, and other infrastructure projects.
2. Transportation Industry: Aluminium ingots are used in the production of aircraft, automobiles, and
other forms of transportation, leading to increased demand for aluminium ingots.
3. Packaging Industry: Aluminium ingots are used in the production of packaging materials, such as
aluminium cans, foils, and containers, leading to increased demand for aluminium ingots.
4. Energy Industry: Aluminium ingots are used in the production of energy-efficient products, such as
solar panels and wind turbines, leading to increased demand for aluminium ingots.
5. Electrical and Electronics Industry: Aluminium ingots are used in the production of electronic
components, such as conductors, capacitors, and transformers, leading to increased demand for
aluminium ingots.
6. Consumer Goods Industry: Aluminium ingots are used in the production of various consumer goods,
such as cookware, utensils, and appliances, leading to increased demand for aluminium ingots.

In summary, the increasing demand for aluminium ingots is driven by the growth of several industries
that use aluminium in the production of a wide range of products.

Forward and Backward Linkages

The Promoters are having good experience in line of business as they are in metal business for many years.
Hence they are having good and long lasting relationship with many suppliers and customers who are always
eager to have business relationship with the partners due to their credibility, ethical values, quality
consciousness.

30
 M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED

Shivdhara Industrial Zone, Survey no. 333-334, Kuvadva wankaner Highway, 4.5 KM from
Kuvadva Chowk , AT VILLAGE - JIYANA, TALUKA :-RAJKOT , DIST:- RAJKOT

Exihibit-A

Cost of Project and means of Finance

Cost Of Project Means of Finance
( `. In lacs) ( `. In lacs)

Particulars Amount
To be Total Cost Loan from
Already Own fund
incurred Amount Bank
Incurred

Factory Land & Buidling 0.00 0.00 0.00 0.00 0.00

(To be Taken on Lease)

Plant & Machinery,

Electric Installations, Misc, Assets etc 0.00 200.00 200.00 50.00 150.00

Preliminery & Pre-Operative Exps.

Interest Cost before DCCO i.e.upto March 23 0.00 1.88 1.88 1.88 0.00
Bank Charges & Misc Exps 0.00 6.12 6.12 6.12 0.00

Working Capital Margin 0.00 150.00 150.00 150.00 0.00

Total 0.00 358.00 358.00 208.00 150.00

31
 M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED
Shivdhara Industrial Zone, Survey no. 333-334, Kuvadva wankaner Highway, 4.5 KM from Kuvadva Chowk , AT VILLAGE - JIYANA, TALUKA :-RAJKOT , DIST:- RAJKOT
Exihibit-B
Projected Profit and loss account
Schedule Audited Estimated Projected Projected Projected Projected Projected Projected Projected
Particulars
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Sales B-1 0.00 0.00 4854.60 5728.24 6492.07 7296.58 8143.51 9034.69 9972.01

Increase/Decrease in Stock of 155.26 22.43 23.63 24.89 26.20 27.57 29.00

Semi-Finished & Finished Goods
Total 0.00 0.00 5009.86 5750.67 6515.70 7321.47 8169.71 9062.26 10001.01
EXPENDITURE
Direct Exps. B-2 0.10 0.00 4743.00 5429.90 6154.16 6917.41 7721.39 8567.87 9458.70
Gross Profit -0.10 0.00 266.86 320.77 361.55 404.05 448.32 494.39 542.31
Administrative Exps. B-3 6.12 167.28 172.04 177.05 182.30 187.81 193.60 199.68
0.00 6.12 167.28 172.04 177.05 182.30 187.81 193.60 199.68
Net Profit before Depreciation & -0.10 -6.12 99.58 148.72 184.50 221.75 260.51 300.79 342.62
Interest
Depreciation B-5 12.66 12.66 12.66 12.66 12.66 12.66 12.66
Term Loan Interest Proposed B-6 1.13 13.35 11.61 9.45 7.29 5.13 2.97 0.83
Interest on Working Capital B-6 0.75 36.00 36.00 36.00 36.00 36.00 36.00 36.00
Preliminery Exp Written off 1.60 1.60 1.60 1.60 1.60 0.00 0.00
Net Profit before tax -0.10 -8.00 35.97 86.85 124.79 164.20 205.12 249.16 293.14
Income Tax Provision @ 17.16% Sec.115BAB 0.00 0.00 6.17 14.90 21.41 28.18 35.20 42.76 50.30
Net Profit After tax -0.10 -8.00 29.80 71.95 103.38 136.03 169.92 206.40 242.84
Appropriation of Profit
Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Withdrawal
-0.10 -8.00 29.80 71.95 103.38 136.03 169.92 206.40 242.84
Trf to preliminary & pre operative Exp 0.00 8.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Cash From Operations -0.10 -8.00 44.06 86.21 117.64 150.29 184.18 219.06 255.50
0.01 0.01 0.02 0.02 0.02 0.02 0.02

32
 M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED
Shivdhara Industrial Zone, Survey no. 333-334, Kuvadva wankaner Highway, 4.5 KM from Kuvadva Chowk , AT VILLAGE - JIYANA, TALUKA :-RAJKOT , DIST:- RAJKOT
Exihibit-C
Projected Balance-Sheet
Schedule Audited Estimated Projected Projected Projected Projected Projected Projected Projected
Particulars
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
SOURCES OF FUNDS

Share Capital 15.00 100.00 125.00 125.00 125.00 125.00 125.00 125.00 125.00

Reserve & Surplus -0.10 0.00 29.80 101.75 205.13 341.15 511.07 717.47 960.31

Secured Loan from Bank- Proposed 142.00 118.00 94.00 70.00 46.00 22.00 0.00 0.00
(Excl. AMTL)

Unsecured Loans 10.02 0.00 73.00 73.00 73.00 73.00 73.00 73.00 73.00

Sundry Creditors & Provisions 0.10 0.00 13.50 15.45 17.50 19.67 21.95 24.34 26.87

Installments due within year 8.00 24.00 24.00 24.00 24.00 24.00 22.00 0.00

Working Capital Form Bank 101.25 400.00 400.00 400.00 400.00 400.00 400.00 400.00

TOTAL 25.02 351.25 783.30 833.20 914.63 1028.82 1177.02 1361.82 1585.18
APPLICATION OF FUNDS

Fixed Assets B-5 0.00 200.00 187.34 174.68 162.02 149.36 136.70 124.04 111.38

Inventories 0.00 0.00 305.26 349.36 395.82 444.76 496.28 550.49 607.50

Sundry Debtors 0.00 0.00 113.27 133.66 151.48 170.25 190.02 210.81 232.68

Investment ( Non Current Assets ) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Cash & Bank Balance 5.12 8.25 26.03 5.21 14.97 52.86 119.92 216.94 347.24

Other Current Assets 19.90 135.00 145.00 165.50 187.15 210.00 234.12 259.55 286.38

Preliminery Exps 0.00 8.00 6.40 4.80 3.20 1.60 0.00 0.00 0.00
TOTAL 25.02 351.25 783.30 833.20 914.63 1028.83 1177.02 1361.82 1585.18
Balance Sheet Difference 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

33
 M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED
Shivdhara Industrial Zone, Survey no. 333-334, Kuvadva wankaner Highway, 4.5 KM from Kuvadva Chowk , AT VILLAGE - JIYANA, TALUKA :-RAJKOT , DIST:- RAJKOT
Exihibit-D
Projected Cash-Flow Statement
Audited Estimated Projected Projected Projected Projected Projected Projected Projected
Particulars
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
SOURCES OF FUNDS

Term Loan From Bank (a) 150.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Share Capital 15.00 85.00 25.00 0.00 0.00 0.00 0.00 0.00 0.00

Unsecured Loans (c,) 10.02 0.00 73.00 0.00 0.00 0.00 0.00 0.00 0.00

Cash From Operations (d) -0.10 0.00 44.06 86.21 117.64 150.29 184.18 219.06 255.50

Increase in Current Liabilities & Provisions (e) 0.10 0.00 13.50 1.95 2.05 2.16 2.28 2.40 2.52

Working Capital from Bank (f) 101.25 298.75 0.00 0.00 0.00 0.00 0.00 0.00

TOTAL 25.02 336.25 454.31 88.16 119.69 152.45 186.46 221.46 258.02
DISPOSITION OF FUNDS

Acquisition Of Assets ? Capital Advances (g) 200.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Increase in Inventories & Book-Debts (h) 418.54 64.48 64.29 67.71 71.28 75.00 78.89

Increase in Loans , Advances & Deposits (i) 19.90 115.10 0.00 19.50 20.55 21.64 22.78 23.97 25.21

Repayment Of Loan Proposed (j) 0.00 0.00 8.00 24.00 24.00 24.00 24.00 24.00 22.00

Dividend Payment - - - - - - -

Increase in Non Current Assets from Project Surplus 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Repayment of Unsecured Loans 0.00 10.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Increae in Other Current Assets 0.00 0.00 10.00 1.00 1.10 1.21 1.33 1.46 1.61

Preliminary Expenditure 0.00 8.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

TOTAL 19.90 333.12 436.54 108.98 109.94 114.56 119.39 124.44 127.71
Net Increase/(Decrease in Cash) 5.12 3.13 17.77 -20.82 9.76 37.89 67.06 97.02 130.31

Opening Cash Balance 0.00 5.12 8.25 26.03 5.21 14.97 52.86 119.92 216.94
Closing Cash Balance 5.12 8.25 26.03 5.21 14.97 52.86 119.92 216.94 347.24

34
 M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED
Shivdhara Industrial Zone, Survey no. 333-334, Kuvadva wankaner Highway, 4.5 KM from Kuvadva Chowk , AT VILLAGE - JIYANA, TALUKA :-RAJKOT , DIST:- RAJKOT
Exihibit-E
Projection Of Net Working Capital
Particulars Audited Estimated Projected Projected Projected Projected Projected Projected Projected
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
Inventories
Finished Goods & Semi Finished Goods 0.00 0.00 155.26 177.69 201.32 226.21 252.42 279.99 308.99
Raw Material/ Spare Parts & Packing Material 0.00 150.00 171.67 194.50 218.55 243.86 270.50 298.51

Cash & Bank Balance 5.12 8.25 26.03 5.21 14.97 52.86 119.92 216.94 347.24

Book-Debts 113.27 133.66 151.48 170.25 190.02 210.81 232.68

Advance to Suppliers against Order/ Good in transit 19.90 135.00 135.00 154.50 175.05 196.69 219.47 243.45 268.66
Other Current Assets, Duties & Taxes, etc 10.00 11.00 12.10 13.31 14.64 16.11 17.72
Total Current Assets 25.02 143.26 589.57 653.73 749.42 877.87 1040.33 1237.78 1473.80
Current Liabilities
TL Instalments Due within one year 8.00 24.00 24.00 24.00 24.00 24.00 22.00 0.00
Sundry Creditors & Other Curr. Liabilities 0.10 13.50 15.45 17.50 19.67 21.95 24.34 26.87
Total Current Liabilities 0.10 8.00 37.50 39.45 41.50 43.67 45.95 46.34 26.87
Net Current Assets 24.92 135.26 552.07 614.28 707.91 834.20 994.38 1191.44 1446.94

35
 M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED
Shivdhara Industrial Zone, Survey no. 333-334, Kuvadva wankaner Highway, 4.5 KM from Kuvadva Chowk , AT VILLAGE - JIYANA, TALUKA :-RAJKOT , DIST:- RAJKOT

Particulars

Total Installed Production Capacity (TPA) 6900 Tonnes Ratio

(a) Installed Capacity MT per day 23.00 Tonnes
Aluminium Ingot Tonnes
Tonnes

Particulars Total Unit

(a) Installed Capacity MT per day 20.00 20.00 MT

(b) Nos of Days of operation per year 300 300 Days
(c) Total Installed Production Capacity MTs. (a x b) 6,000.00 6,000.00 MT

Total @ 100% Capacity Utilisation

FG Product per year (in MT) 6,000.00 6,000.00 MT
Burning Loss per year (in MT) 2,000.00 2,000.00 MT
Raw Material Scrap Requirement per year (in MT) 8,000.00 8,000.00 MT
180.22
Particulars Audited Estimated Projected Projected Projected Projected Projected Projected Projected
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
Capacity Utilisation 0% 0% 45% 50% 55% 60% 70% 70% 75%

Schedule B-1 Sales

Particulars Audited Estimated Projected Projected Projected Projected Projected Projected Projected
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
Product A

( Com. Prod. From 1st April. 2023)

Installed capacity per day - MT 0.000 0.000 20.000 20.000 20.000 20.000 20.000 20.000 20.000

No. of Working Days 0 0 300 300 300 300 300 300 300

Capacity Utilisation 0% 0% 45% 50% 55% 60% 65% 70% 75%

Production during the year 0.00 0.00 2700.00 3000.00 3300.00 3600.00 3900.00 4200.00 4500.00

Add: Opening Stock of Semi Finished 0 0 0 63.00 70.00 77.00 84.00 91.00 98.00
Less: Closing Stock of Semi Finished 0 0 63.00 70.00 77.00 84.00 91.00 98.00 105.00

Add: Opening Stock of Finished Goods 0 0 0 27.00 30.00 33.00 36.00 39.00 42.00
Less: Closing Stock of Finished Goods 0 0 27.00 30.00 33.00 36.00 39.00 42.00 45.00

Estimated yearly Sales - MT 0 0 2610 2990 3290 3590 3890 4190 4490

Average Sales Price per MT 0.00 0.00 186000.00 191580.00 197327.40 203247.22 209344.64 215624.98 222093.73

Sales ( Rs. In Lakhs ) 4854.60 5728.24 6492.07 7296.58 8143.51 9034.69 9972.01

Total Sales 0.00 0.00 4854.60 5728.24 6492.07 7296.58 8143.51 9034.69 9972.01

36
Schedule B-2 Increase ( Decrease) in Stock of Semi Finished & Finished Goods
Audited Estimated Projected Projected Projected Projected Projected Projected Projected
Particulars
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
CLOSING STOCk
Clsoing Stock of Finished Ingot(Qty) - - 27.00 30.00 33.00 36.00 39.00 42.00 45.00
Vallue of ingot Closing Stock 47.46 54.31 61.54 69.14 77.15 85.58 94.45
Clsoing Stock of Waste (Qty)
Vallue of Waste Closing Stock

Semi Finished Ingot Qty 63.00 70.00 77.00 84.00 91.00 98.00 105.00
Semi Finished Ingot Value 107.81 123.38 139.79 157.07 175.26 194.41 214.54
Semi Finished Waste Qty
Semi Finished Waste Value

Total Value of Closing Stock of Semi Finished &

Finished Goods - - 155.26 177.69 201.32 226.21 252.42 279.99 308.99
Opening Stock Value - - - 155.26 177.69 201.32 226.21 252.42 279.99
Increase ( Decrease ) in Stock of Semi Finished &
Finished Goods 0 0 155.26 22.43 23.63 24.89 26.20 27.57 29.00

Schedule B-2 Direct Expenses

Audited Estimated Projected Projected Projected Projected Projected Projected Projected
Particulars
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
Raw Material Consumed
Consumption for Aluminium Scrap

RM Qty Required per 1 MT Production of

Raw Materail Quanitity Consumed (MT) - - 3,600.00 4,000.00 4,400.00 4,800.00 5,200.00 5,600.00 6,000.00
Rae Material Landed Cost Per MT 1,25,000.00 1,28,750.00 1,32,612.50 1,36,590.88 1,40,688.60 1,44,909.26 1,49,256.54
Raw Material Cost ( In Lakhs) 4,500.00 5,150.00 5,834.95 6,556.36 7,315.81 8,114.92 8,955.39

-
Manufacturing Overhads:
Power & Fuel Cost Per MT Of Production 4,000.00 4,120.00 4,243.60 4,370.91 4,502.04 4,637.10 4,776.21
Units X Rs. )
Annual Cost of Power & Fuel 108,00,000 123,60,000 140,03,880 157,35,269 175,57,937 194,75,804 214,92,941
Labour & Wages Per MT of Production - - 3,000.00 3,150.00 3,307.50 3,472.88 3,646.52 3,828.84 4,020.29
Annual Salary & Wages 81,00,000 94,50,000 109,14,750 125,02,350 142,21,423 160,81,148 180,91,291
Packiing Materail Cost Per Kg of Production
Annual Cost of Packing Material
Repair, Maintenance , Spares & Other Manu. Overheads 2,000.00 2,060.00 2,121.80 2,185.45 2,251.02 2,318.55 2,388.10
Annaul Cost of Other Manu. Overheads 54,00,000 61,80,000 70,01,940 78,67,634 87,78,969 97,37,902 107,46,471
Total Manu. Overheads ( In Lakhs ) - - 243.00 279.90 319.21 361.05 405.58 452.95 503.31

Total Direct Exps. ( `. In Lakhs) 0.00 0.00 4743.00 5429.90 6154.16 6917.41 7721.39 8567.87 9458.70
4500.00 5150.00 5834.95 6556.36 7315.81 8114.92 8955.39
0.90 0.90 0.90 0.90 0.90 0.90 0.90

Schedule B-3 Admin. & Other Overheads

Audited Estimated Projected Projected Projected Projected Projected Projected Projected
Particulars
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Salary & Wages: 4.94 Lakhs Per Month - - 59,28,000.00 62,24,400.00 65,35,620.00 68,62,401.00 72,05,521.05 75,65,797.10 79,44,086.96
Other Administrative Expenses; 3 Lakh Per Month 36,00,000.00 37,80,000.00 39,69,000.00 41,67,450.00 43,75,822.50 45,94,613.63 48,24,344.31
Factory Rent ; 6 Lakhs Per Month 72,00,000.00 72,00,000.00 72,00,000.00 72,00,000.00 72,00,000.00 72,00,000.00 72,00,000.00

Total Exps. ( `. In Lakhs) 0.00 0.00 167.28 172.04 177.05 182.30 187.81 193.60 199.68

Schedule B-4 Repayment of Proposed Term Loan

Audited Estimated Projected Projected Projected Projected Projected Projected Projected
Particulars
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
Opening balance 0.00 150.00 150.00 142.00 118.00 94.00 70.00 46.00 22.00
Less :
Principal Repayment during the year 0.00 8.00 24.00 24.00 24.00 24.00 24.00 22.00

Closing balance 0.00 150.00 142.00 118.00 94.00 70.00 46.00 22.00 0.00
Interest Cost @ 9 % 0.00 1.13 13.35 11.61 9.45 7.29 5.13 2.97 0.83
Total Repayment 0.00 1.13 21.35 35.61 33.45 31.29 29.13 26.97 22.83

37
Exhibit-F
Statement Of Debt Service Coverage Ratio
Particulars Audited Estimated Projected Projected Projected Projected Projected Projected Projected
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
A. Total Internal Cash Accruals
Net Profit After Tax -0.10 0.00 29.80 71.95 103.38 136.03 169.92 206.40 242.84
Depreciation 0.00 0.00 12.66 12.66 12.66 12.66 12.66 12.66 12.66
Preliminery Exp Written Off 0.00 0.00 1.60 1.60 1.60 1.60 1.60 0.00 0.00
Interest On Term Loan-Proposed 0.00 0.00 13.35 11.61 9.45 7.29 5.13 2.97 0.83
Total -0.10 0.00 57.41 97.82 127.09 157.58 189.31 222.03 256.32

B. Debt Service Requirement

Repayment Of Loan- Proposed 0.00 0.00 8.00 24.00 24.00 24.00 24.00 24.00 22.00
Interest On Term Loan- Proposed 0.00 0.00 13.35 11.61 9.45 7.29 5.13 2.97 0.83
Total 0.00 0.00 21.35 35.61 33.45 31.29 29.13 26.97 22.83
Net Surplus -0.10 0.00 36.06 62.21 93.64 126.29 160.18 195.06 233.50
Gross DSCR (A/B) 2.69 2.75 3.80 5.04 6.50 8.23 11.23
Net DSCR 5.51 3.59 4.90 6.26 7.67 9.13 11.61
Cumulative Surplus 1107.56
Cumulative Repayment 200.63
Avg. Gross DSCR 5.52
Avg. Net DSCR 7.05
M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED

Exhibit-G
Key Financial Rarios
Audited Estimated Projected Projected Projected Projected Projected Projected Projected
Particulars
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30

Debt Service coverage Ratio 0.00 0.00 0.00 2.75 3.80 5.04 6.50 8.23 11.23

Debt/Equity Ratio 0.67 1.42 1.53 1.34 1.14 0.95 0.76 0.58 0.58

Debt/Equity Ratio QuasI 0.00 1.42 0.60 0.47 0.35 0.23 0.11 0.00 0.00

TOL/TNW Quashi 0.00 2.73 2.51 1.81 1.28 0.91 0.66 0.49 0.37

TOL/TNW 0.68 2.73 4.24 2.73 1.79 1.21 0.85 0.62 0.46

Current Ratio 1.35 1.49 1.70 1.98 2.34 2.92 3.45

Gross Profit Ratio 5.33 5.58 5.55 5.52 5.49 5.46 5.42

Net Profit Ratio 0.61 1.26 1.59 1.86 2.09 2.28 2.44

PBDIT/ Gross Sales 2.05 2.60 2.84 3.04 3.20 3.33 3.44

Total Inventory / Net Sales (Days) 22.95 22.26 22.25 22.25 22.24 22.24 22.24

Receivables / Gross Sales (Days) 8.52 8.52 8.52 8.52 8.52 8.52 8.52

Creditors/Turnover Ratio (Days) 1.10 1.10 1.10 1.10 1.10 1.10 1.10

38
 M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED

hara Industrial Zone, Survey no. 333-334, Kuvadva wankaner Highway, 4.5 KM from Kuvadva Chowk , AT VILLAGE - JIYANA, TALUKA :-RAJKOT , DIST:- RAJ

Schedule B-5
FIXED ASSETS- Balance as on 01.04.2023
Sr. No Name of Assets Amount Rate Block
1 Land 0.00 0.00 A
2 Building 0.00
Pre-operative Exps Capitalized 0.00 0.00 B
3 Plant & Machinery
Plant & Machinery 200.00
Pre-operative Exps Capitalized 0.00
15 C

Total
Total 200.00

2023-24
Reductio
Sr.No Particulars Opening Addition Total Dep. Closing
n
1 Block A 0.00 0.00 0.00 0.00 0.00 0.00
2 Block B 0.00 0.00 0.00 0.00 0.00 0.00
3 Block C 200.00 0.00 0.00 200.00 12.66 187.34
Total 200.00 0.00 0.00 200.00 12.66 187.34

2024-25
Reductio
Sr.No Particulars Opening Addition Total Dep. Closing
n
1 Block A 0.00 0.00 0.00 0.00 0.00 0.00
2 Block B 0.00 0.00 0.00 0.00 0.00 0.00
Block C 187.34 0.00 0.00 187.34 12.66 174.68
Total 187.34 0.00 0.00 187.34 12.66 174.68

2025-26
Reductio
Sr.No Particulars Opening Addition Total Dep. Closing
n
1 Block A 0.00 0.00 0.00 0.00 0.00 0.00
2 Block B 0.00 0.00 0.00 0.00 0.00 0.00
3 Block C 174.68 0.00 0.00 174.68 12.66 162.02
Total 174.68 0.00 0.00 174.68 12.66 162.02

2026-27
Reductio
Particulars Opening Addition Total Dep. Closing
n
1 Block A 0.00 0.00 0.00 0.00 0.00 0.00
2 Block B 0.00 0.00 0.00 0.00 0.00 0.00
3 Block C 162.02 0.00 0.00 162.02 12.66 149.36
Total 162.02 0.00 0.00 162.02 12.66 149.36

2027-28
Reductio
Particulars Opening Addition Total Dep. Closing
n
1 Block A 0.00 0.00 0.00 0.00 0.00 0.00
2 Block B 0.00 0.00 0.00 0.00 0.00 0.00
3 Block C 149.36 0.00 0.00 149.36 12.66 136.70
Total 149.36 0.00 0.00 149.36 12.66 136.70

2028-29
Reductio
Particulars Opening Addition Total Dep. Closing
n
1 Block A 0.00 0.00 0.00 0.00 0.00 0.00
2 Block B 0.00 0.00 0.00 0.00 0.00 0.00
3 Block C 136.70 0.00 0.00 136.70 12.66 124.04
Total 136.70 0.00 0.00 136.70 12.66 124.04

2029-30
Reductio
Particulars Opening Addition Total Dep. Closing
n
1 Block A 0.00 0.00 0.00 0.00 0.00 0.00
2 Block B 0.00 0.00 0.00 0.00 0.00 0.00
3 Block C 124.04 0.00 0.00 124.04 12.66 111.38
Total 124.04 0.00 0.00 124.04 12.66 111.38

39
Schedule B-6
Repayment of Term Loan Proposed
Term Loan Amount 150.00 Lacs
Disbursement/Moratarium Period 9 Months
Repayment Period 7 Years
Repayment Installment 75 Months
Repayment Commencement Dec-24
Rate of Interest 9.00 %

Interest for
Sr. no. Month Disbursment the period

Months
Mar-23 150.00

150.00
Total 0.00
Total
Sr.No Months Opening Instl Amount Pri. Amt Int. Amt Closing Prin. Pmt Intr. Pmt Repaymen
t
- - - -
1 Mar-23 150.00 1.13 0.00 1.13 150.00 0.00 1.13 1.13
2 Apr-23 150.00 1.13 0.00 1.13 150.00
3 May-23 150.00 1.13 0.00 1.13 150.00
4 Jun-23 150.00 1.13 0.00 1.13 150.00
5 Jul-23 150.00 1.13 0.00 1.13 150.00
6 Aug-23 150.00 1.13 0.00 1.13 150.00
7 Sep-23 150.00 1.13 0.00 1.13 150.00
Oct-23 150.00 1.13 0.00 1.13 150.00
9 Nov-23 150.00 1.13 0.00 1.13 150.00
10 Dec-23 150.00 3.11 2.00 1.11 148.00
11 Jan-24 148.00 3.10 2.00 1.10 146.00
12 Feb-24 146.00 3.08 2.00 1.08 144.00
13 Mar-24 144.00 3.07 2.00 1.07 142.00 8.00 13.35 21.35
14 Apr-24 142.00 3.05 2.00 1.05 140.00
15 May-24 140.00 3.04 2.00 1.04 138.00
16 Jun-24 138.00 3.02 2.00 1.02 136.00
17 Jul-24 136.00 3.01 2.00 1.01 134.00
18 Aug-24 134.00 2.99 2.00 0.99 132.00
19 Sep-24 132.00 2.98 2.00 0.98 130.00
20 Oct-24 130.00 2.96 2.00 0.96 128.00
21 Nov-24 128.00 2.95 2.00 0.95 126.00
22 Dec-24 126.00 2.93 2.00 0.93 124.00
23 Jan-25 124.00 2.92 2.00 0.92 122.00
24 Feb-25 122.00 2.90 2.00 0.90 120.00
25 Mar-25 120.00 2.89 2.00 0.89 118.00 24.00 11.61 35.61
26 Apr-25 118.00 2.87 2.00 0.87 116.00
27 May-25 116.00 2.86 2.00 0.86 114.00
28 Jun-25 114.00 2.84 2.00 0.84 112.00
29 Jul-25 112.00 2.83 2.00 0.83 110.00
30 Aug-25 110.00 2.81 2.00 0.81 108.00
31 Sep-25 108.00 2.80 2.00 0.80 106.00
32 Oct-25 106.00 2.78 2.00 0.78 104.00
33 Nov-25 104.00 2.77 2.00 0.77 102.00
34 Dec-25 102.00 2.75 2.00 0.75 100.00
35 Jan-26 100.00 2.74 2.00 0.74 98.00
36 Feb-26 98.00 2.72 2.00 0.72 96.00
37 Mar-26 96.00 2.71 2.00 0.71 94.00 24.00 9.45 33.45

40
38 Apr-26 94.00 2.69 2.00 0.69 92.00
39 May-26 92.00 2.68 2.00 0.68 90.00
40 Jun-26 90.00 2.66 2.00 0.66 88.00
41 Jul-26 88.00 2.65 2.00 0.65 86.00
42 Aug-26 86.00 2.63 2.00 0.63 84.00
43 Sep-26 84.00 2.62 2.00 0.62 82.00
44 Oct-26 82.00 2.60 2.00 0.60 80.00
45 Nov-26 80.00 2.59 2.00 0.59 78.00
46 Dec-26 78.00 2.57 2.00 0.57 76.00
47 Jan-27 76.00 2.56 2.00 0.56 74.00
48 Feb-27 74.00 2.54 2.00 0.54 72.00
49 Mar-27 72.00 2.53 2.00 0.53 70.00 24.00 7.29 31.29
50 Apr-27 70.00 2.51 2.00 0.51 68.00
51 May-27 68.00 2.50 2.00 0.50 66.00
52 Jun-27 66.00 2.48 2.00 0.48 64.00
53 Jul-27 64.00 2.47 2.00 0.47 62.00
54 Aug-27 62.00 2.45 2.00 0.45 60.00
55 Sep-27 60.00 2.44 2.00 0.44 58.00
56 Oct-27 58.00 2.42 2.00 0.42 56.00
57 Nov-27 56.00 2.41 2.00 0.41 54.00
58 Dec-27 54.00 2.39 2.00 0.39 52.00
59 Jan-28 52.00 2.38 2.00 0.38 50.00
60 Feb-28 50.00 2.36 2.00 0.36 48.00
61 Mar-28 48.00 2.35 2.00 0.35 46.00 24.00 5.13 29.13
62 Apr-28 46.00 2.33 2.00 0.33 44.00
63 May-28 44.00 2.32 2.00 0.32 42.00
64 Jun-28 42.00 2.30 2.00 0.30 40.00
65 Jul-28 40.00 2.29 2.00 0.29 38.00
66 Aug-28 38.00 2.27 2.00 0.27 36.00
67 Sep-28 36.00 2.26 2.00 0.26 34.00
68 Oct-28 34.00 2.24 2.00 0.24 32.00
69 Nov-28 32.00 2.23 2.00 0.23 30.00
70 Dec-28 30.00 2.21 2.00 0.21 28.00
71 Jan-29 28.00 2.20 2.00 0.20 26.00
72 Feb-29 26.00 2.18 2.00 0.18 24.00
73 Mar-29 24.00 2.17 2.00 0.17 22.00 24.00 2.97 26.97
74 Apr-29 22.00 2.15 2.00 0.15 20.00
75 May-29 20.00 2.14 2.00 0.14 18.00
76 Jun-29 18.00 2.12 2.00 0.12 16.00
77 Jul-29 16.00 2.11 2.00 0.11 14.00
78 Aug-29 14.00 2.09 2.00 0.09 12.00
79 Sep-29 12.00 2.08 2.00 0.08 10.00
80 Oct-29 10.00 2.06 2.00 0.06 8.00
81 Nov-29 8.00 2.05 2.00 0.05 6.00
82 Dec-29 6.00 2.03 2.00 0.03 4.00
83 Jan-30 4.00 2.02 2.00 0.02 2.00
84 Feb-30 2.00 2.00 2.00 - - 22.00 0.83 22.83

41
 M/s. SHREE
ADHYASHAKTI
METALS PRIVATE

CMA DATA

Prepared by :

Sonecha & Amlani

Chartered Accountants
Office : 101 – Siddhnath Complex, K. V. Road, Jamnagar – 361 001.
Tel: (91-288) 2541751 / 2541752 / 2541753 /2541755
E-mail: [email protected] Website: www.sonechaandamlani.com

42
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM - I
PARTICULARS OF EXISTING / PROPOSED LIMITS FROM THE BANKING SYSTEM
(Limits from all Banks and Financial Institutions as on date of application)

Name: M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED ( Rs.in lakhs )

Sl. No. NAME OF BANK / FINANCIAL NATURE OF FACILITY EXISTING
EXTENT TO WHICH LIMITS
BAL.O/S LIMITS NOW
INSTITUTION LIMITSWERE UTILISED DURINGAS ON REQUESTED
LAST 12 MONTHS
MAX. MIN.
A. Cash Credit 0.00 0.00 0.00 150.00

0.00 0.00 0.00 0.00 150.00

B. Term Loan 0.00 - 400.00

TOTAL 0.00 0.00 0.00 0.00 550.00

43
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
FORM II : OPERATING STATEMENT
Name: M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED (Amount Rs. In Lakhs)
Particulars Audited Estimated Projected Projected Projected Projected Projected Projected Projected
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
1) GROSS INCOME:
I) Sales (net of returns,discount)
a) Domestic Sales - 4,854.60 5,728.24 6,492.07 7,296.58 8,143.51 9,034.69 9,972.01
b) Export Sales - - - - - - - -
c) Sub-total (a+b) - - 4,854.60 5,728.24 6,492.07 7,296.58 8,143.51 9,034.69 9,972.01
Less: Excise Duty - -
Net Sales - - 4,854.60 5,728.24 6,492.07 7,296.58 8,143.51 9,034.69 9,972.01
d) Percentage rise (+) or fall (-) in sales turnover as
compared to previous year 0.00% 18.00% 13.33% 12.39% 11.61% 10.94% 10.37%

II) Other Direct Income

a) Jobwork Income
b) Miscellaneous Income - - - -
III) Total (I) + (II) - - 4,854.60 5,728.24 6,492.07 7,296.58 8,143.51 9,034.69 9,972.01
2. COST OF SALES:

I) Raw Materials( Including Stores and other items used

in the process of Manufacture )
- Imported
- Indegeneous - - 4,500.00 5,150.00 5,834.95 6,556.36 7,315.81 8,114.92 8,955.39
II) Power and Fuel - - 108.00 123.60 140.04 157.35 175.58 194.76 214.93
III) Direct Lab.( Wages,Salaries, Bonus, S. Welfare etc ) - - 81.00 94.50 109.15 125.02 142.21 160.81 180.91
IV) Other Manufacturing expenses - - 54.00 61.80 70.02 78.68 87.79 97.38 107.46
V) Depreciation - - 12.66 12.66 12.66 12.66 12.66 12.66 12.66
Sub-total (I to V) - - 4,755.66 5,442.56 6,166.82 6,930.07 7,734.05 8,580.53 9,471.36
IV) Add : Opening stock of W.I.P. - - 107.81 123.38 139.79 157.07 175.26 194.41
V) Sub-total (III+IV) - - 4,755.66 5,550.37 6,290.19 7,069.86 7,891.12 8,755.79 9,665.77
VI) Less : Closing Stock W.I.P. - - 107.81 123.38 139.79 157.07 175.26 194.41 214.54
VII) Sub-total (V-VI)( Total Cost of Production ) 0.00 0.00 4647.85 5426.99 6150.41 6912.79 7715.86 8561.38 9451.22
VIII) Add : Opening stock of Finished Goods - 47.46 54.31 61.54 69.14 77.15 85.58
IX) Sub-total (VII+VIII) - - 4,647.85 5,474.45 6,204.72 6,974.33 7,785.00 8,638.54 9,536.81
X) Less : Closing Stock of Finished Goods - - 47.46 54.31 61.54 69.14 77.15 85.58 94.45
XI) Sub-total ( Total cost of Sales ) - - 4,600.40 5,420.13 6,143.18 6,905.18 7,707.85 8,552.96 9,442.36
Gross Profit - - 254.20 308.11 348.89 391.39 435.66 481.73 529.65
- - 5.24 5.38 5.37 5.36 5.35 5.33 5.31

44
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
FORM II : OPERATING STATEMENT
Name: M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED (Amount Rs. In Lakhs)
Particulars Audited Estimated Projected Projected Projected Projected Projected Projected Projected
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
3. SELLING, GENERAL & ADMINISTRATIVE EXPENSES - 6.12 167.28 172.04 177.05 182.30 187.81 193.60 199.68

4. OPERATING PROFIT BEFORE INTEREST[1(III) - 2(XI) - 3] - (6.12) 86.92 136.06 171.84 209.09 247.85 288.13 329.96
5. INTEREST AND FINANCIAL CHARGES
- Interest on Working Capital - 0.75 36.00 36.00 36.00 36.00 36.00 36.00 36.00
- Interest on Term Loan - 1.13 13.35 11.61 9.45 7.29 5.13 2.97 0.83

7. OPERATING PROFIT AFTER INTEREST [4 - 5 - 6] - (8.00) 37.57 88.45 126.39 165.80 206.72 249.16 293.14
8. I) Add: Other non-operating Income
(a) Interest received
(b) Prior period income
(c) Others - - - - - -
(d) sub-total (INCOME) - - - - - - - - -
II) Less: Other non-operating expenses - - - -
(a) Preliminery Exp Written off (8.00) 1.60 1.60 1.60 1.60 1.60 - -
(b)
(c) Sub-total (EXPENSES) - (8.00) 1.60 1.60 1.60 1.60 1.60 - -
III) Net of other non-op. Income / Exp.[Net of 8(I) & 8(II) - 8.00 (1.60) (1.60) (1.60) (1.60) (1.60) - -

9. PROFIT BEFORE TAX / (LOSS) [7 + 8(III)] - 0.00 35.97 86.85 124.79 164.20 205.12 249.16 293.14

10. PROVISION FOR TAXES 6.17 14.90 21.41 28.18 35.20 42.76 50.30

11. NET PROFIT/LOSS (9-10) - 0.00 29.80 71.95 103.38 136.03 169.92 206.40 242.84
12. (a) Equity Dividend Paid
(b) Remuneration to Partners
(c) Interest to Partners
13. RETAINED PROFIT (11-12) - 0.00 29.80 71.95 103.38 136.03 169.92 206.40 242.84
Net Profit after Interest and Remineration - 0.00 29.80 71.95 103.38 136.03 169.92 206.40 242.84
14. RETAINED PROFIT/NET PROFIT (%AGE) [13 / 11] 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

45
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
FORM - III : ANALYSIS OF BALANCE SHEET
Name: M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED (Amount Rs. In Lakhs)
Particulars Audited ESTIMATED Projected Projected Projected Projected Projected Projected Projected
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
CURRENT LIABILITIES
1. Short term borrowings from Banks
(incldg. bills purchased, discounted & excess borrowings
(a) from applicant Bank - 101.25 400.00 400.00 400.00 400.00 400.00 400.00 400.00
(b) from other banks
(c) (of which BP & BD)
Sub-total (A) - 101.25 400.00 400.00 400.00 400.00 400.00 400.00 400.00
2. Short term borrowings from others
3. Sundry Creditors (Trade) 0.10 - 13.50 15.45 17.50 19.67 21.95 24.34 26.87
4. Adv. payments from customers / deposits from dealers - - - - - - -
5. Provision for taxation
6. Dividend payable
7. Other statutory liabilities [due with in one year]
8. Deposits/Deb./Instal. under term loans / DPGs etc.] - 8.00 24.00 24.00 24.00 24.00 24.00 22.00 -
( due with in one year )
9. Other current liabilities and Prov (due with in one year)
Sub-total (B) 0.10 8.00 37.50 39.45 41.50 43.67 45.95 46.34 26.87
10. TOTAL CURRENT LIABILITIES [ Total of 1 to 9] 0.10 109.25 437.50 439.45 441.50 443.67 445.95 446.34 426.87
TERM LIABILITIES
11. Debentures ( not maturing with in one year )
12. Preference Shares ( redeemable after one year )
13. Term loans (excluding instal payable within one year) - 142.00 118.00 94.00 70.00 46.00 22.00 - -
14. Deferred Payment Credits ( excl inst due with in one year) - -
15. Term deposits ( repayable after one year ) -
16. Other term liabilities - Unsecured Loans 10.02 - 73.00 73.00 73.00 73.00 73.00 73.00 73.00
17. TOTAL TERM LIABILITIES (Total of 11 to 16) 10.02 142.00 191.00 167.00 143.00 119.00 95.00 73.00 73.00
18. TOTAL OUTSIDE LIABILITIES ( 10 + 17 ) 10.12 251.25 628.50 606.45 584.50 562.67 540.95 519.34 499.87
NET WORTH
19. Share / Proprietor/ Partner's Capital 15.00 100.00 125.00 125.00 125.00 125.00 125.00 125.00 125.00
20. General reserve/ Relative Loan
21. Revaluation Reserve
22. Other reserves ( excluding provisions )
23. Surplus (+) or deficit (-) in Profit & Loss account (0.10) 29.80 71.95 103.38 136.03 169.92 206.40 242.84
24. NET WORTH 14.90 100.00 154.80 226.75 330.13 466.15 636.07 842.47 1,085.31
25. TOTAL LIABILITIES ( 18 + 24 ) 25.02 351.25 783.30 833.20 914.63 1,028.82 1,177.02 1,361.82 1,585.18

46
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
FORM - III : ANALYSIS OF BALANCE SHEET
Name: M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED (Amount Rs. In Lakhs)
Particulars Audited Estimated Projected Projected Projected Projected Projected Projected Projected
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
CURRENT ASSETS
26. Cash and bank balances 5.12 8.25 26.03 5.21 14.97 52.86 119.92 216.94 347.24
27. Investments (other than long term Investments)
(I) Government & other trustee securities
(II) Fixed deposits with Banks
28. (I) Receivables other than deferred & exports - - 113.27 133.66 151.48 170.25 190.02 210.81 232.68
(II) Export receivables (Including bills purchased/discounted -
29. Inst under deferred receivables (due within one year)
30. Raw Materials( including stores & other items)
- Imported
- Indigeneous - - 150.00 171.67 194.50 218.55 243.86 270.50 298.51
Stocks in Process - - 107.81 123.38 139.79 157.07 175.26 194.41 214.54
Finished goods - - 47.46 54.31 61.54 69.14 77.15 85.58 94.45
Other consumable spares
31. Advances to suppliers of merchandise 135.00 135.00 154.50 175.05 196.69 219.47 243.45 268.66
32. Advance payment of taxes
33. Other current assets - Prepaid Exp/Loans & Adv 19.90 - 10.00 11.00 12.10 13.31 14.64 16.11 17.72
34. TOTAL CURRENT ASSETS (Total of 26 to 33) 25.02 143.26 589.57 653.73 749.42 877.87 1,040.33 1,237.78 1,473.80
FIXED ASSETS
35. Gross Block (land, building, machinery, furniture, fittings & vehicles) 200.00 187.34 174.68 162.02 149.36 136.70 124.04
36. Depreciation - - 12.66 12.66 12.66 12.66 12.66 12.66 12.66
37. NET BLOCK (35-36) 200.00 187.34 174.68 162.02 149.36 136.70 124.04 111.38
OTHER NON-CURRENT ASSETS
38. Investments/ debt/advances / deposits not Current Assets
(I)(a) Investments in subsidiary companies / affiliates
(b) Others - - - - -
(II) Advances to suppl. of capital goods and contractors
(III) Deferred receivables (maturity exceeding one year)
(IV) Security deposits/tender deposits
39. Obsolete Stocks
40. Other non-current assets (Incldg. dues from directors) - - - - - - - - -
41. TOTAL OTHER NON-CURRENT ASSETS (Total of 38 to 40) - - - - - - - - -
42. Intangible assets (patents,goodwill,preliminary exp etc 8.00 6.40 4.80 3.20 1.60 (0.00) (0.00) (0.00)
43. TOTAL ASSETS ( Total of 34,37,41 & 42 ) 25.02 351.25 783.30 833.20 914.63 1,028.83 1,177.02 1,361.82 1,585.18
44. TANGIBLE NET WORTH (24-42) 14.90 92.01 148.40 221.96 326.93 464.56 636.08 842.48 1,085.31
45. NET WORKING CAPITAL [(17+24)-(37+41+42)] 24.92 34.01 152.06 214.28 307.91 434.20 594.38 791.44 1,046.93
46. CURRENT RATIO (34/10) 250.20 1.31 1.35 1.49 1.70 1.98 2.33 2.77 3.45
47. TOL/TNW (18/44) 0.68 2.73 4.24 2.73 1.79 1.21 0.85 0.62 0.46
Balance Sheet Difference - - 0.00 0.00 0.00 0.01 0.00 0.00 (0.00)

47
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
FORM - IV : COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
Name: M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED (Amount Rs. In Lakhs)
Particulars Audited estimated Projected Projected Projected Projected Projected Projected Projected
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
A. CURRENT ASSETS
1. Raw Materials ( Including Stores and Spares)
Imported - - - - - - - - -
( Months' consumption ) - - - - - - - - -
Indigeneous [Including Goods in Transit] - - 150.00 171.67 194.50 218.55 243.86 270.50 298.51
( Months' consumption) - - (0.40) (0.40) (0.40) (0.40) (0.40) (0.40) (0.40)
2. Stocks in Process - - 107.81 123.38 139.79 157.07 175.26 194.41 214.54
( Months' cost of Production ) - - (0.28) (0.27) (0.27) (0.27) (0.27) (0.27) (0.27)
3. Finished Goods - - 47.46 54.31 61.54 69.14 77.15 85.58 94.45
( Months' cost of sales ) - - (0.12) (0.12) (0.12) (0.12) (0.12) (0.12) (0.12)
4. Other consumable spares - - - - - - - - -
( Months' consumption) - - - - - - - - -
5. Receivables other than export & deferred receivables
(incldg.bills purchased & discounted by bankers) - - 113.27 133.66 151.48 170.25 190.02 210.81 232.68
(Months' domestic sales) - - (0.28) (0.28) (0.28) (0.28) (0.28) (0.28) (0.28)
6. Export receivables (incl.bills purch.& disc.) - - - - - - - - -
7. Advances to suppliers of merchandise - 135.00 135.00 154.50 175.05 196.69 219.47 243.45 268.66
8. Other current assets incl.cash & bank balances & deferred
receivables due within one year (specify major items) 25.02 8.25 36.03 16.21 27.07 66.17 134.56 233.04 364.96
9. TOTAL CURRENT ASSETS (To agree with item 34 in Form - III) 25.02 143.26 589.57 653.73 749.42 877.87 1,040.33 1,237.78 1,473.80
- - - - - - - - -
B. CURRENT LIABILITIES
(Other than bank borrowings for working capital)

10. Sundry Creditors ( Trade ) 0.10 - 13.50 15.45 17.50 19.67 21.95 24.34 26.87
(Months' purchases) - - (0.04) (0.04) (0.04) (0.04) (0.04) (0.04) (0.04)
11. Advances from customers/deposits from dealers - - - - - - - - -
12. Statutory liabilities [Including Provision for Taxation] - - - - - - - - -
13. Other current liabilities (specify major items)
Short Term borro., unsecured loans, dividend payable, -
instalments of TL, DPG,public deposits, debentures etc.) - 8.00 24.00 24.00 24.00 24.00 24.00 22.00 -
14. TOTAL ( To agree with sub total B Form - III ) 0.10 8.00 37.50 39.45 41.50 43.67 45.95 46.34 26.87

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 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
FORM - V : COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL [MPBF]
Name: M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED (Amount Rs. In Lakhs)
Particulars 2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
Audited Estimated Projected Projected Projected Projected Projected Projected Projected
METHOD OF LENDING: I

1. TOTAL CURRENT ASSETS (9 in Form -IV) 25.02 143.26 589.57 653.73 749.42 877.87 1,040.33 1,237.78 1,473.80

2. Other Current Liabilities (Other than bank borrowing) 0.10 8.00 37.50 39.45 41.50 43.67 45.95 46.34 26.87

(14 of Form - IV)

3. Working capital gap (WCG) (1-2) 24.92 135.26 552.07 614.28 707.91 834.20 994.38 1,191.44 1,446.94

4. Minimum Stipulated Net Working Capital 6.23 33.82 138.02 153.57 176.98 208.55 248.60 297.86 361.74

i.e.25% of WCG

5. Actual/projected net working capital 24.92 34.01 152.06 214.28 307.91 434.20 594.38 791.44 1,046.93

(45 in Form III)

6. Item 3 minus Item 4 18.69 101.44 414.05 460.71 530.93 625.65 745.78 893.58 1,085.20

7. Item 3 minus Item 5 - 101.26 400.01 400.00 400.00 400.00 400.01 400.01 400.02

8. Maximum permissible bank finance [MPBF] - 101.26 400.01 400.00 400.00 400.00 400.01 400.01 400.02

(Item 6 or 7 whichever is lower)

9. Excess borrowings representing shortfall in

NWC (4-5) - - - - - - - - -

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 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
FORM VI : FUNDS FLOW STATEMENT
Name: M/s. SHREE ADHYASHAKTI METALS PRIVATE LIMITED (Amount Rs. In Lakhs)
Particulars 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30
Estimated Projected Projected Projected Projected Projected Projected Projected
1. SOURCES
a) Net Profit (after tax int & Remuneration) 0.00 31.40 73.55 104.98 137.63 171.52 206.40 242.84
b) Depreciation - 12.66 12.66 12.66 12.66 12.66 12.66 12.66
c) Miscellaneous Expenditure Written off - - - - - - - -
d) Increase in capital/Unsecured loans 85.00 25.00
e) Increase in Term Liabilities (Including public deposits) 131.98 49.00 - - - - - -
f) Decrease In: - - - -
I) Fixed Assets -
II) Other non-current assets - - - - - - - -
g) Others - - - -
g) TOTAL 216.99 118.06 86.21 117.64 150.29 184.18 219.06 255.50
2. USES -
a) Net loss - - - - - - - -
b) Decrease in Term Liabilities (Including public deposits) - - 24.00 24.00 24.00 24.00 22.00 -
c) Increase In :
I) Fixed Assets 200.00 - - - - - - -
II) Other non-current assets - - - - - - - -
d) Dividend payments - - - - - - - -
e) Others 8.00 - - - - - - -
f) TOTAL 208.00 - 24.00 24.00 24.00 24.00 22.00 -
3. Long Term Surplus (+) / Deficit (-) [1 - 2] 8.98 118.06 62.21 93.64 126.29 160.18 197.06 255.50
4. Increase/decrease in current assets (as per details given below) 118.24 446.31 64.16 95.69 128.45 162.46 197.46 236.02
5. Increase/decrease in current liabilities other than bank borrowings 7.90 29.50 1.95 2.05 2.16 2.28 0.40 (19.48)
6. Increase/decrease in Working Capital Gap 110.34 416.80 62.22 93.65 126.30 160.19 197.07 255.51
7. Net surplus (+)/deficit (-) [Difference of 3 and 6] 101.35 298.74 0.01 0.01 0.01 0.01 0.01 0.01
8. Increase/decrease in Bank borrowings 101.25 298.75 0.00 0.00 0.00 0.00 0.00 0.00
INCREASE/DECREASE IN NET SALES 0.00 4854.60 873.64 763.83 804.50 846.93 891.18 937.32
Break-up of (4)
i) Increase/Decrease in stock-in-trade 0.00 305.26 44.09 46.46 48.94 51.52 54.21 57.01
ii) Increase/Decrease in Receivables
a) Domestic 0.00 113.27 20.38 17.82 18.77 19.76 20.79 21.87
b) Export - - - - - - - -
iii) Increase/Decrease in other current assets 118.24 27.77 (0.32) 31.41 60.74 91.18 122.46 157.13
NOTE : Increase/decrease under items 4 to 8 as also under
break-up of (4) should be indicated by (+) / (-) 0.00 0.00 0.00 -0.00 0.00 0.00 0.00 -0.00

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 Notes on Financial Projections:

1. Cost of the project and means of Finance: -

The total cost of the Project is financed by way of Share Capital and proposed term loan from bank. Total Cost
of project is Rs. 3.58 Crores as per summary given in the Exhibit - A. Company will infuse own fund of Rs 2.08
Crores by way of Share Capital & Promoters’ Unsecured Loans. Balance Rs. 1.5 Crore will be funded by way of
proposed term loan from bank. Further, working capital requirement of Rs. 4 Crore will also be funded
by working capital limit from bank.

2. Performance and profitability: -

The projected performance of the unit shows excellent picture of profitability, even
with the conservative approach. The earning capacity of the unit is quiet good and
satisfactory. The gross profit ratio of the unit ranges from 5.33 % to 5.58 % and net
profit ratio ranges from 0.61 % to 2.44 %. This can be inferred from projected profit
and loss account as shown in Exhibit `B’. The said ratios are competitive and
favourable considering the present situation.

4. Assumptions other than relating to production: -

I. Income tax provision is made as per Provisions of Section 115bab of the income Tax Act,1961. II.
Preliminary Expenses 8.00 Lacs are Written Off over the period of 5 years and.
III. Depreciation is provided at rates as per rates prescribed in the Companies Act as per SLM Method.
IV. Inventory holding period is presumed as follows Raw Material: 10 Days b) Finished goods 3 Days
V. Credit period
a) Book-Debts - 7 Days
b) Sundry Creditors for Overhead- 7 Days

5. Statement of affairs: - The unit expects to have extremely sound financial position with large balance of
internal accrual during the year of operations. Due to the internal accrual during the succeeding years, the
liquidity position of the firm will be favorable. Above position can be easily observed from the projected
Balance sheet given in the Exhibit ‘C ’.

6. Cash Flow: - The unit is expecting to generate considerable amount of cash during the period of its
operation. The liquidity position of the firm will be quite satisfactory. This can be inferred from DSCR which is
in the range of 2.69 to 11.23 and average Gross DSCR of 5.52 & Net DSCR of 7.05

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 SWOT Analysis:

Strengths:

 Wide range of applications: Aluminium ingots have a variety of uses, including in construction,
transportation, electrical, and packaging industries, which creates a large potential market for the
business.
 Lightweight and durable: Aluminium is a lightweight yet strong material, making it a popular choice
for a variety of applications.
 Recyclable: Aluminium is 100% recyclable, which makes it a more environmentally friendly option
compared to other materials.
 High demand: With the increasing demand for aluminium in various industries, the demand for
aluminium ingots is expected to remain high in the future.

Weaknesses:

 Price fluctuations: The price of aluminium can be affected by a number of factors, including global
demand, production costs, and supply disruptions, which can create volatility in the market.
 Competition: The aluminium ingot market is highly competitive, with a large number of established
players in the industry.
 Limited control over supply chain: The production of aluminium ingots often involves multiple stages
and involves raw materials from various sources, which can make it difficult to control the quality
and consistency of the end product.

Opportunities:

 Growing demand: As the global economy continues to grow, the demand for aluminium ingots is
expected to increase, providing an opportunity for the business to expand its market share.
 Technological advancements: Advances in technology are allowing for the development of new and
more efficient processes for producing aluminium ingots, providing an opportunity for the business
to improve its production and competitiveness.
 Expansion into new markets: The business may have opportunities to expand into new markets, both
domestically and internationally, as the demand for aluminium ingots continues to grow.

Threats:

 Economic downturns: Economic downturns can reduce demand for aluminium ingots, which can
have a negative impact on the business.
 Environmental regulations: Increasing environmental regulations and restrictions on the use of
aluminium in certain industries can create challenges for the business.
 Raw material price fluctuations: The cost of raw materials used in the production of aluminium ingots
can fluctuate, affecting the overall cost of production and competitiveness of the business.

52