Professional Documents
Culture Documents
Copyright 2001 by the Trustees of the University of Virginia Darden School Foundation.
School Foundation.
BASE CASE
PONDICHERRY
30 DAY INVENTORY
90,900,108
13,635,016
77,265,092
66,993,380
10,271,712
5,454,006
1,073,731
1,835,620
1,908,354
572,506
1,335,848
96,900,108
14,535,016
82,365,092
71,415,380
10,949,712
5,814,006
1,073,731
2,024,489
2,037,485
611,246
1,426,240
90,392
30 DAY INVENTORY
HIBACHI JIT
90,900,108
13,635,016
77,265,092
66,993,380
10,271,712
5,454,006
1,073,731
11,145
2,407,054
722,116
1,684,938
258,698
February
3.18%
190,945
363,626
March
4.89%
293,558
600,199
1,296,566
90,392
6.97%
Below are the basic forecast exhibits of the model, adjusted to reflect the Pondicherry proposal.
Exhibit
Location
Exhibit 8 Forecast of Income Statements
A25
Exh. 8 contd Forecast of Balance Sheets
A44
Exhibit 9 Schedule of Cash Receipts and Disbursements
A65
Exhibit 10 Forecasted T-ACCOUNTS
A96
EXHIBIT 8
KOTA FIBRES, LTD.
Monthly Forecast of Income Statements
(In Rupees)
January
Gross Sales
Excise Taxes
Net Sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Depreciation
Interest Expense (Income) (1)
Profit Before Taxes
Income Taxes
Net Profit
(1) Interest expense = Notes Payable * 145%/12 months.
2,788,801
418,320
2,370,481
2,055,346
315,135
484,501
84,130
12,254
(265,750)
(79,725)
(186,025)
February
March
3,083,770
462,566
2,621,205
2,272,739
348,466
484,501
84,130
28,901
(249,066)
(74,720)
(174,346)
4,740,962
711,144
4,029,817
3,494,089
535,729
484,501
87,047
79,018
(114,837)
(34,451)
(80,386)
March
Assets
Cash (1)
Accounts Receivable (2)
Inventories (3)
Total Current Assets
Net Prop. Plant & Equip. (4)
Total Assets
750,000
750,000
750,000
2,946,030 3,655,168 5,554,207
2,378,033 6,153,817 12,555,950
6,074,063 10,558,985 18,860,157
8,527,238 8,443,107 8,706,060
14,601,300 19,002,093 27,566,217
EXHIBIT 9
KOTA FIBRES, LTD.
Schedule of Cash Receipts and Disbursements
(In Rupees)
January
February
Assume: Sales
Purchases (1)
Debt Outstanding
March
2,788,801
2,607,529
1,344,093
3,083,770
5,161,963
3,439,517
4,740,962
8,141,154
9,639,288
2,515,500
659,990
2,374,632
2,095,424
2,841,923
5,699,771
1,696,074
0
12,254
418,320
484,501
0
576,665
0
3,187,813
2,607,529
0
28,901
462,566
484,501
0
886,560
0
4,470,056
5,161,963
350,000
79,018
711,144
484,501
0
1,755,068
500,000
8,541,693
########
684,102
Receipts - Disbursements
(12,323)
762,323
750,000
762,323
750,000
750,000
750,000
750,000
Exhibit 10
KOTA FIBRES, LTD.
Forecasted T-Accounts Supporting Financial Statements
(In Rupees)
January
February
1. Schedule of Accounts Receivable
Beginning of Period
2,672,729 2,946,030
Plus Sales
2,788,801 3,083,770
Less Collections, Last Month (1)
885,456 1,046,448
Less Collections, Month before Last (2)
1,630,044 1,328,184
Less Collections Pondicherry
End of Period
2,946,030 3,655,168
March
3,655,168
4,740,962
1,157,130
1,569,672
115,121
5,554,207
2. Schedule of Inventories
Beginning of Period
Plus Purchases (1)
Plus Labor
Less Shipments (COGS)
End of Period
########
1,249,185
2,607,529
576,665
2,055,346
2,378,033
2,378,033 6,153,817
5,161,963 8,141,154
886,560 1,755,068
2,272,739 3,494,089
6,153,817 12,555,950
759,535
2,607,529
1,696,074
1,670,990
1,670,990
5,161,963
2,607,529
4,225,425
4,225,425
8,141,154
5,161,963
7,204,615
Less Dividends
End of Period
5. Schedule of Accrued Taxes
Beginning of Period
Plus Monthly Tax Expense (@ 30%)
Less Quarterly Tax Payments
End of Period
0
0
500,000
11,665,942 11,491,596 10,911,210
0
(79,725)
0
(79,725)
(79,725)
(74,720)
0
(154,445)
(154,445)
(34,451)
0
(188,896)
1,344,093
1,344,093
0
3,439,517
3,439,517
0
9,639,288
9,639,288
0
April
9.69%
581,138
1,002,629
May
15.28%
916,538
1,694,359
June
19.35%
1,160,948
2,466,847
July
17.95%
1,076,932
2,851,959
August
9.43%
565,862
2,420,629
September
5.53%
332,079
1,619,485
ondicherry proposal.
Pro Forma
April
May
June
July
August
9,385,388
1,407,808
7,977,580
6,917,031
1,060,549
484,501
87,047
172,508
316,493
94,948
221,545
14,802,098
2,220,315
12,581,783
10,909,146
1,672,637
484,501
87,047
291,161
809,928
242,978
566,950
18,749,324
2,812,399
15,936,925
13,818,251
2,118,674
484,501
89,964
393,238
1,150,972
345,292
805,680
17,392,465
2,608,870
14,783,595
12,818,246
1,965,348
484,501
89,964
396,769
994,115
298,234
695,880
9,138,686
1,370,803
7,767,883
6,735,212
1,032,672
484,501
89,964
287,965
170,242
51,073
119,169
September
5,363,079
804,462
4,558,617
3,952,589
606,028
484,501
92,880
165,444
(136,797)
(41,039)
(95,758)
April
May
June
July
August
September
750,000
11,240,081
18,719,039
30,709,120
8,619,013
39,328,133
750,000
19,592,683
20,881,872
41,224,555
8,531,966
49,756,521
750,000
27,019,955
15,342,289
43,112,244
8,792,002
51,904,246
750,000
28,240,995
7,182,670
36,173,665
8,702,039
44,875,704
750,000
19,220,965
4,057,883
24,028,848
8,612,075
32,640,923
750,000
10,260,658
3,062,538
14,073,196
8,869,195
22,942,391
9,375,589
18,913,736
(93,948)
28,195,378
11,132,756
39,328,133
8,629,317
29,278,468
149,031
38,056,816
11,699,705
49,756,521
4,089,739
35,809,122
0
39,898,860
12,005,386
51,904,246
2,013,155
29,863,049
298,234
32,174,438
12,701,266
44,875,704
1,670,990
17,800,191
349,307
19,820,488
12,820,435
32,640,923
1,134,146
9,583,567
0
10,717,713
12,224,678
22,942,391
April
May
June
July
August
September
9,385,388
10,312,128
18,913,736
14,802,098
9,565,856
29,278,468
18,749,324
5,026,277
35,809,122
17,392,465
2,949,693
29,863,049
9,138,686
2,607,529
17,800,191
3,699,514
9,274,449
6,449,496
10,364,732
11,322,052
6,530,653
16,171,424 18,158,716
(5,946,073) (12,062,858)
8,141,154
0
172,508
1,407,808
484,501
0
2,767,992
0
12,973,962
10,312,128
0
291,161
2,220,315
484,501
0
3,506,124
0
16,814,228
9,565,856
350,000
393,238
2,812,399
484,501
494,322
3,252,391
500,000
17,852,705
5,026,277
0
396,769
2,608,870
484,501
0
1,708,934
0
10,225,351
2,949,693
0
287,965
1,370,803
484,501
0
1,002,896
0
6,095,858
5,363,079
2,070,685
9,583,567
14,323,386
(8,216,624)
2,607,529
350,000
165,444
804,462
484,501
308,268
886,560
500,000
6,106,763
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
April
May
June
July
August
September
5,554,207
9,385,388
1,778,962
1,735,695
184,857
11,240,081
11,240,081
14,802,098
3,521,700
2,668,442
259,354
19,592,683
19,592,683
18,749,324
5,554,224
5,282,550
485,278
27,019,955
27,019,955
17,392,465
7,035,350
8,331,336
804,738
28,240,995
28,240,995
9,138,686
6,526,213
10,553,026
1,079,478
19,220,965
19,220,965
5,363,079
3,429,130
9,789,320
1,104,937
10,260,658
12,555,950
10,312,128
2,767,992
6,917,031
18,719,039
18,719,039
9,565,856
3,506,124
10,909,146
20,881,872
20,881,872
5,026,277
3,252,391
13,818,251
15,342,289
15,342,289
2,949,693
1,708,934
12,818,246
7,182,670
7,182,670
2,607,529
1,002,896
6,735,212
4,057,883
4,057,883
2,070,685
886,560
3,952,589
3,062,538
7,204,615
10,312,128
8,141,154
9,375,589
9,375,589
9,565,856
10,312,128
8,629,317
8,629,317
5,026,277
9,565,856
4,089,739
4,089,739
2,949,693
5,026,277
2,013,155
2,013,155
2,607,529
2,949,693
1,670,990
1,670,990
2,070,685
2,607,529
1,134,146
10,911,210
221,545
11,132,756
566,950
11,699,705
805,680
12,005,386
695,880
12,701,266
119,169
12,820,435
(95,758)
0
11,132,756
(188,896)
94,948
0
(93,948)
0
11,699,705
(93,948)
242,978
0
149,031
500,000
12,005,386
0
12,701,266
0
12,820,435
149,031
345,292
494,322
0
0
298,234
0
298,234
298,234
51,073
0
349,307
500,000
12,224,678
349,307
(41,039)
308,268
0
10,445,646
0
10,445,646
87,047
1,826,633
8,619,013
10,445,646
0
10,445,646
87,047
1,913,680
8,531,966
10,445,646
350,000
10,795,646
89,964
2,003,644
8,792,002
10,795,646
0
10,795,646
89,964
2,093,607
8,702,039
10,795,646
0
10,795,646
89,964
2,183,571
8,612,075
10,795,646
350,000
11,145,646
92,880
2,276,451
8,869,195
18,913,736
18,913,736
0
29,278,468
29,278,468
0
35,809,122
35,809,122
0
29,863,049
29,863,049
0
17,800,191
17,800,191
0
9,583,567
9,583,567
0
October
4,740,962
711,144
4,029,817
3,494,089
535,729
484,501
92,880
92,666
(134,318)
(40,296)
(94,023)
########
442,454
########
########
333,315
484,501
95,797
46,674
(293,656)
(88,097)
(205,559)
96,900,108
14,535,016
82,365,092
71,415,380
10,949,712
5,814,006
1,073,731
2,024,489
2,037,485
611,246
1,426,240
October
November December
750,000
7,109,306
1,894,814
9,754,120
8,776,314
#########
750,000
########
########
########
########
########
750,000
########
########
########
########
########
685,793
5,754,282
(40,296)
6,399,780
#########
#########
########
########
(103,248)
########
########
########
########
########
(191,345)
########
########
########
October
November December
January
February
3,573,637 ########
750,000
750,000
750,000
750,000
750,000
750,000
October
November December
#########
4,740,962
2,012,400
5,143,694
736,219
7,109,306
########
########
########
########
410,007
########
########
########
########
########
306,398
########
3,062,538
1,622,331
704,033
3,494,089
1,894,814
########
########
551,593
########
########
########
########
668,270
########
########
0
0 500,000
######### ######## ########
0
(40,296) (103,248)
(40,296) (62,952) (88,097)
0
0
0
(40,296) (103,248) (191,345)
#########
0
#########
92,880
2,369,332
8,776,314
########
0
########
92,880
########
########
########
350,000
########
95,797
########
########
########
########
########
########
########
########
Sales
A/R
Inv
A/P
n/p
January
########
########
########
########
########
February
########
########
########
########
########
March
########
########
########
########
########
April
########
########
########
########
########
Gross Sales
Inventories (3)
Note Payable- Bank (6)
Below are the basic forecast exhibits, adjusted to reflect the inventory policy proposal.
Exhibit
Location
Exhibit 8 Forecast of Income Statements
A20
Exh. 8 contd Forecast of Balance Sheets
A40
Exhibit 9 Schedule of Cash Receipts and Disbursements
A61
Exhibit 10 Forecasted T-ACCOUNTS
A92
EXHIBIT 8
KOTA FIBRES, LTD.
Monthly Forecast of Income Statements
(In Rupees)
January
Gross Sales
Excise Taxes
Net Sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Depreciation
Interest Expense (Income) (1)
Profit Before Taxes
Income Taxes
Net Profit
2,616,120
392,418
2,223,702
1,928,080
295,622
454,501
84,130
11,384
(254,394)
(76,318)
(178,076)
February
2,892,825
433,924
2,458,901
2,132,012
326,889
454,501
84,130
20,283
(232,025)
(69,607)
(162,417)
January
February
Assets
Cash (1)
Accounts Receivable (2)
Inventories (3)
Total Current Assets
Net Prop. Plant & Equip.(4)
Total Assets
750,000
2,773,349
1,453,117
4,976,466
8,733,016
13,709,481
750,000
3,291,542
2,598,841
6,640,383
8,648,885
15,289,269
911,723
1,766,741
1,200,185
2,156,979
(76,318)
(145,925)
2,035,590
3,777,794
11,673,891 11,511,474
13,709,481 15,289,269
EXHIBIT 9
KOTA FIBRES, LTD.
Schedule of Cash Receipts and Disbursements
(In Rupees)
January
Assume:
Sales
Purchases (1)
Debt Outstanding
1,438,866
684,102
February
2,616,120
1,591,054
1,200,185
2,892,825
2,446,072
2,156,979
Receipts:
2,515,500
310,304
2,374,632
956,793
Disburs.:
1,438,866
0
11,384
392,418
454,501
0
540,958
0
2,838,127
1,591,054
0
20,283
433,924
454,501
0
831,665
0
3,331,425
Receipts - Disbursements
(12,323)
762,323
762,323
750,000
750,000
750,000
Exhibit 10
KOTA FIBRES, LTD.
Forecasted T-Accounts Supporting Financial Statements
(In Rupees)
January
February
1. Schedule of Accounts Receivable
Beginning of Period
2,672,729
2,773,349
Plus Sales
2,616,120
2,892,825
Less Collections, Last Month (1)
885,456
1,046,448
Less Collections, Month before Last (2)
1,630,044
1,328,184
End of Period
2,773,349
3,291,542
(1) 40% of sales in period (T-1).
(2) 60% of sales in period (T-2).
2. Schedule of Inventories
Beginning of Period
Plus Purchases (1)
Plus Labor
Less Shipments (COGS)
End of Period
1,438,866
1,249,185
1,591,054
540,958
1,928,080
1,453,117
1,453,117
2,446,072
831,665
2,132,012
2,598,841
759,535
1,591,054
1,438,866
911,723
911,723
2,446,072
1,591,054
1,766,741
11,851,967 11,673,891
(178,076)
(162,417)
0
0
11,673,891 11,511,474
(76,318)
(76,318)
0
(76,318)
(69,607)
0
(145,925)
10,095,646
0
10,095,646
84,130
1,362,630
8,733,016
10,095,646
0
10,095,646
84,130
1,446,761
8,648,885
1,200,185
1,200,185
0
2,156,979
2,156,979
0
February
2,892,825
(162,417)
March
4,447,404
(59,849)
Exhibit TN3
Gross sales
Net profit
January
2,616,120
(178,076)
Assets
Cash (1)
Accounts Receivable (2)
Inventories (3)
Total Current Assets
Net Prop. Plant & Equip.(4)
Total Assets
750,000
2,773,349
1,453,117
4,976,466
8,733,016
13,709,481
911,723
1,766,741
4,163,007
1,200,185
2,156,979
5,540,762
(76,318)
(145,925)
(171,575)
2,035,590
3,777,794
9,532,193
11,673,891 11,511,474 10,951,626
13,709,481 15,289,269 20,483,819
Schedule of Inventories
750,000
3,291,542
2,598,841
6,640,383
8,648,885
15,289,269
750,000
5,012,144
5,809,837
11,571,981
8,911,838
20,483,819
Beginning of Period
Plus Purchases (1)
Plus Labor
Less Shipments (COGS)
End of Period
1,249,185
1,591,054
540,958
1,928,080
1,453,117
1,453,117
2,446,072
831,665
2,132,012
2,598,841
2,598,841
4,842,338
1,646,395
3,277,737
5,809,837
March
4,447,404
5,809,837
5,540,762
April
8,804,250
9,554,762
11,342,182
May
13,885,560
12,283,738
18,797,552
June
17,588,376
11,345,652
25,435,575
July
16,315,533
5,639,276
23,845,118
August
8,572,824
3,028,952
14,393,177
policy proposal.
Pro Forma
March
4,447,404
667,111
3,780,293
3,277,737
502,557
454,501
87,047
46,507
(85,498)
(25,649)
(59,849)
April
May
June
July
August
8,804,250
1,320,638
7,483,613
6,488,732
994,880
454,501
87,047
102,001
351,332
105,399
245,932
13,885,560
2,082,834
11,802,726
10,233,658
1,569,068
454,501
87,047
182,094
845,426
253,628
591,799
17,588,376
2,638,256
14,950,120
12,962,633
1,987,486
454,501
89,964
267,242
1,175,780
352,734
823,046
16,315,533
2,447,330
13,868,203
12,024,548
1,843,655
454,501
89,964
297,738
1,001,453
300,436
701,017
8,572,824
1,285,924
7,286,900
6,318,171
968,729
454,501
89,964
231,023
193,242
57,973
135,269
March
April
May
June
July
August
750,000
5,012,144
5,809,837
11,571,981
8,911,838
20,483,819
750,000
10,301,737
9,554,762
20,606,500
8,824,791
29,431,291
750,000
17,997,155
12,283,738
31,030,893
8,737,744
39,768,637
750,000
24,748,757
11,345,652
36,844,409
8,997,780
45,842,190
750,000
25,697,604
5,639,276
32,086,879
8,907,817
40,994,696
750,000
17,191,189
3,028,952
20,970,140
8,817,853
29,787,993
4,163,007
5,540,762
(171,575)
9,532,193
10,951,626
20,483,819
6,957,727
11,342,182
(66,175)
18,233,733
11,197,558
29,431,291
8,994,276
18,797,552
187,453
27,979,281
11,789,356
39,768,637
8,294,212
25,435,575
0
33,729,787
12,112,403
45,842,190
4,035,722
23,845,118
300,436
28,181,276
12,813,420
40,994,696
2,087,719
14,393,177
358,409
16,839,304
12,948,689
29,787,993
March
April
May
June
July
August
4,447,404
4,842,338
5,540,762
8,804,250
7,637,058
11,342,182
13,885,560
9,673,607
18,797,552
17,588,376
8,973,543
25,435,575
16,315,533
4,715,053
23,845,118
8,572,824
2,767,050
14,393,177
2,726,802
3,383,783
3,514,657
5,801,420
6,190,142
7,455,371
10,836,774
6,638,023
15,366,686 17,079,239
(1,590,457) (9,451,941)
2,446,072
350,000
46,507
667,111
454,501
0
1,646,395
500,000
6,110,585
4,842,338
0
102,001
1,320,638
454,501
0
2,596,600
0
9,316,076
7,637,058
0
182,094
2,082,834
454,501
0
3,289,026
0
13,645,513
9,673,607
350,000
267,242
2,638,256
454,501
540,187
3,051,005
500,000
17,474,797
8,973,543
0
297,738
2,447,330
454,501
0
1,603,118
0
13,776,229
4,715,053
0
231,023
1,285,924
454,501
0
940,797
0
7,627,297
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
March
April
May
June
July
August
3,291,542
4,447,404
1,157,130
1,569,672
5,012,144
5,012,144
8,804,250
1,778,962
1,735,695
10,301,737
10,301,737
13,885,560
3,521,700
2,668,442
17,997,155
17,997,155
17,588,376
5,554,224
5,282,550
24,748,757
24,748,757
16,315,533
7,035,350
8,331,336
25,697,604
25,697,604
8,572,824
6,526,213
10,553,026
17,191,189
2,598,841
4,842,338
1,646,395
3,277,737
5,809,837
5,809,837
7,637,058
2,596,600
6,488,732
9,554,762
9,554,762
9,673,607
3,289,026
10,233,658
12,283,738
12,283,738
8,973,543
3,051,005
12,962,633
11,345,652
11,345,652
4,715,053
1,603,118
12,024,548
5,639,276
5,639,276
2,767,050
940,797
6,318,171
3,028,952
1,766,741
4,842,338
2,446,072
4,163,007
4,163,007
7,637,058
4,842,338
6,957,727
6,957,727
9,673,607
7,637,058
8,994,276
8,994,276
8,973,543
9,673,607
8,294,212
8,294,212
4,715,053
8,973,543
4,035,722
4,035,722
2,767,050
4,715,053
2,087,719
11,511,474 10,951,626
(59,849)
245,932
500,000
0
10,951,626 11,197,558
11,197,558
591,799
0
11,789,356
11,789,356
823,046
500,000
12,112,403
12,112,403
701,017
0
12,813,420
12,813,420
135,269
0
12,948,689
187,453
300,436
(145,925)
(171,575)
(66,175)
750,000
750,000
(25,649)
0
(171,575)
105,399
0
(66,175)
253,628
0
187,453
352,734
540,187
0
300,436
0
300,436
57,973
0
358,409
10,095,646
350,000
10,445,646
87,047
1,533,808
8,911,838
10,445,646
0
10,445,646
87,047
1,620,855
8,824,791
10,445,646
0
10,445,646
87,047
1,707,902
8,737,744
10,445,646
350,000
10,795,646
89,964
1,797,866
8,997,780
10,795,646
0
10,795,646
89,964
1,887,829
8,907,817
10,795,646
0
10,795,646
89,964
1,977,793
8,817,853
5,540,762
5,540,762
0
11,342,182
11,342,182
0
18,797,552
18,797,552
0
25,435,575
25,435,575
0
23,845,118
23,845,118
0
14,393,177
14,393,177
0
April
8,804,250
245,932
May
13,885,560
591,799
June
17,588,376
823,046
July
16,315,533
701,017
August
8,572,824
135,269
September
5,031,000
(76,912)
750,000
10,301,737
9,554,762
20,606,500
8,824,791
29,431,291
750,000
17,997,155
12,283,738
31,030,893
8,737,744
39,768,637
750,000
24,748,757
11,345,652
36,844,409
8,997,780
45,842,190
750,000
25,697,604
5,639,276
32,086,879
8,907,817
40,994,696
750,000
17,191,189
3,028,952
20,970,140
8,817,853
29,787,993
750,000
9,003,739
2,598,841
12,352,581
9,074,973
21,427,553
6,957,727
11,342,182
(66,175)
18,233,733
11,197,558
29,431,291
8,994,276
18,797,552
187,453
27,979,281
11,789,356
39,768,637
8,294,212
25,435,575
0
33,729,787
12,112,403
45,842,190
4,035,722
23,845,118
300,436
28,181,276
12,813,420
40,994,696
2,087,719
14,393,177
358,409
16,839,304
12,948,689
29,787,993
1,766,741
7,289,035
0
9,055,776
12,371,777
21,427,553
5,809,837
7,637,058
2,596,600
6,488,732
9,554,762
9,554,762
9,673,607
3,289,026
10,233,658
12,283,738
12,283,738
8,973,543
3,051,005
12,962,633
11,345,652
11,345,652
4,715,053
1,603,118
12,024,548
5,639,276
5,639,276
2,767,050
940,797
6,318,171
3,028,952
3,028,952
2,446,072
831,665
3,707,847
2,598,841
September
5,031,000
2,598,841
7,289,035
October
4,447,404
1,924,013
4,431,877
November
3,531,762
1,360,420
3,124,139
September
October
November
5,031,000
754,650
4,276,350
3,707,847
568,503
454,501
92,880
130,997
(109,875)
(32,962)
(76,912)
4,447,404
667,111
3,780,293
3,277,737
502,557
454,501
92,880
70,814
(115,638)
(34,691)
(80,947)
3,531,762
529,764
3,001,998
2,602,909
399,089
454,501
92,880
45,651
(193,943)
(58,183)
(135,760)
2,767,050
415,058
2,351,993
2,039,316
312,677
454,501
95,797
36,741
(274,362)
(82,309)
(192,053)
90,900,108
13,635,016
77,265,092
66,993,380
10,271,712
5,454,006
1,073,731
1,442,475
2,301,500
690,450
1,611,050
========== ==========
September
October
November
December
750,000
9,003,739
2,598,841
12,352,581
9,074,973
21,427,553
750,000
6,295,049
1,924,013
8,969,062
8,982,092
17,951,154
750,000
5,029,249
1,360,420
7,139,670
8,889,212
16,028,882
750,000
3,715,152
1,827,609
6,292,761
9,143,415
15,436,176
1,766,741
7,289,035
0
9,055,776
12,371,777
21,427,553
1,263,138
842,547
1,191,195
4,431,877
3,124,139
2,957,147
(34,691)
(92,874)
(175,183)
5,660,324
3,873,811
3,973,159
12,290,830 12,155,070 11,463,017
17,951,154 16,028,882 15,436,176
September
October
November
December
January
February
5,031,000
2,446,072
7,289,035
4,447,404
1,942,469
4,431,877
3,531,762
1,521,878
3,124,139
2,767,050
1,870,526
2,957,147
3,400,956
3,616,031
13,218,449
7,156,094
4,797,562
(7,104,141) (2,857,158) (1,307,738)
4,081,147
(166,992)
2,767,050
350,000
130,997
754,650
454,501
325,446
831,665
500,000
6,114,308
2,446,072
0
70,814
667,111
454,501
0
660,439
0
4,298,937
1,942,469
0
45,651
529,764
454,501
0
517,438
0
3,489,823
1,521,878
350,000
36,741
415,058
454,501
0
635,979
500,000
3,914,155
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
September
October
November
December
17,191,189
5,031,000
3,429,130
9,789,320
9,003,739
9,003,739
4,447,404
2,012,400
5,143,694
6,295,049
6,295,049
3,531,762
1,778,962
3,018,600
5,029,249
5,029,249
2,767,050
1,412,705
2,668,442
3,715,152
3,028,952
2,446,072
831,665
3,707,847
2,598,841
2,598,841
1,942,469
660,439
3,277,737
1,924,013
1,924,013
1,521,878
517,438
2,602,909
1,360,420
1,360,420
1,870,526
635,979
2,039,316
1,827,609
2,087,719
2,446,072
2,767,050
1,766,741
1,766,741
1,942,469
2,446,072
1,263,138
1,263,138
1,521,878
1,942,469
842,547
842,547
1,870,526
1,521,878
1,191,195
358,409
(34,691)
(92,874)
(32,962)
325,446
0
(34,691)
0
(34,691)
(58,183)
0
(92,874)
(82,309)
0
(175,183)
10,795,646
350,000
11,145,646
92,880
2,070,673
9,074,973
11,145,646
0
11,145,646
92,880
2,163,554
8,982,092
11,145,646
0
11,145,646
92,880
2,256,434
8,889,212
11,145,646
350,000
11,495,646
95,797
2,352,231
9,143,415
7,289,035
7,289,035
0
4,431,877
4,431,877
0
3,124,139
3,124,139
0
2,957,147
2,957,147
0
October
November December
4,447,404
3,531,762
2,767,050
(80,947)
(135,760)
(192,053)
750,000
6,295,049
1,924,013
8,969,062
8,982,092
17,951,154
750,000
5,029,249
1,360,420
7,139,670
8,889,212
16,028,882
750,000
3,715,152
1,827,609
6,292,761
9,143,415
15,436,176
1,263,138
842,547
1,191,195
4,431,877
3,124,139
2,957,147
(34,691)
(92,874)
(175,183)
5,660,324
3,873,811
3,973,159
12,290,830 12,155,070 11,463,017
17,951,154 16,028,882 15,436,176
##########
1,400,000
##########
1,073,731
23,456,837
##########
2,598,841
1,942,469
660,439
3,277,737
1,924,013
1,924,013
1,521,878
517,438
2,602,909
1,360,420
1,360,420
1,870,526
635,979
2,039,316
1,827,609
Gross Sales
Inventories (3)
Note Payable- Bank (6)
Below are the base case forecast exhibits adjusted to reflect the Hibachi proposal.
Exhibit
Location
Exhibit 8 Forecast of Income Statements
A549..Q567
Exh. 8 contd Forecast of Balance Sheets
A569..Q588
Exhibit 9 Schedule of Cash Receipts and Disbursements
A590..Q619
Exhibit 10 Forecasted T-ACCOUNTS
A621..Q669
Graph
V562..AD580
EXHIBIT 8
KOTA FIBRES, LTD.
Monthly Forecast of Income Statements
(In Rupees)
January
Gross Sales
Excise Taxes
Net Sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Depreciation
Interest Expense (Income) (1)
Profit Before Taxes
Income Taxes
Net Profit
2,616,120
392,418
2,223,702
1,928,080
295,622
454,501
84,130
12,309
(255,319)
(76,596)
(178,723)
January
Assets
Cash (1)
Accounts Receivable (2)
Inventories (3)
Total Current Assets
Net Prop. Plant & Equip. (4)
Total Assets
750,000
2,773,349
1,452,010
4,975,359
8,733,016
13,708,374
758,428
1,353,298
(76,596)
2,035,130
11,673,244
13,708,374
EXHIBIT 9
KOTA FIBRES, LTD.
Schedule of Cash Receipts and Disbursements
(In Rupees)
January
Assume:
Sales
Purchases
Debt Outstanding
1,591,054
684,102
2,616,120
1,589,947
1,353,298
Receipts:
2,515,500
463,417
Disburs.:
Accounts Paid
Capital Expenditures
Interest Payments
Excise Tax Paid
Operating Expenses
Accrued Income Tax Paid
Wages
Dividends
Subtotal: Disbursements
1,591,054
0
12,309
392,418
454,501
0
540,958
0
2,991,240
Receipts - Disbursements
(12,323)
762,323
762,323
750,000
Exhibit 10
KOTA FIBRES, LTD.
Forecasted T-Accounts Supporting Financial Statements
(In Rupees)
January
1. Schedule of Accounts Receivable
Beginning of Period
2,672,729
Plus Sales
2,616,120
Less Collections, Last Month (1)
885,456
Less Collections, Month before Last (2)
1,630,044
End of Period
2,773,349
(1) 40% of sales in period (T-1).
(2) 60% of sales in period (T-2).
2. Schedule of Inventories
Beginning of Period
Plus Purchases (1)
Plus Labor
Less Shipments (COGS)
End of Period
P
P
Purchasesm = (Salesm+2 x ( ) x .65) + (Salesm+2 x ( ) x .3
S
S
1,591,054
1,249,185
1,589,947
540,958
1,928,080
1,452,010
759,535
1,589,947
1,591,054
758,428
11,851,967
(178,723)
0
11,673,244
(76,596)
0
(76,596)
10,095,646
1,278,500
8,817,146
10,095,646
0
10,095,646
84,130
1,362,630
8,733,016
1,353,298
1,353,298
0
Exhibit TN2
Gross sales
Net profit
January
2,616,120
(178,723)
February
2,892,825
(162,477)
March
4,447,404
(60,165)
Assets
Cash (1)
Accounts Receivable (2)
Inventories (3)
Total Current Assets
Net Prop. Plant & Equip. (4)
Total Assets
750,000
2,773,349
1,452,010
4,975,359
8,733,016
13,708,374
750,000
3,291,542
3,177,581
7,219,123
8,648,885
15,868,008
750,000
5,012,144
6,938,680
12,700,824
8,911,838
21,612,662
758,428
1,353,298
(76,596)
2,035,130
11,673,244
13,708,374
2,485,482
2,017,987
(146,229)
4,357,241
11,510,767
15,868,008
5,079,536
5,754,537
(172,014)
10,662,060
10,950,602
21,612,662
Schedule of Inventories
Beginning of Period
Plus Purchases (1)
Plus Labor
Less Shipments (COGS)
End of Period
1,249,185
1,589,947
540,958
1,928,080
1,452,010
1,452,010
3,317,001
540,582
2,132,012
3,177,581
3,177,581
5,911,055
1,127,780
3,277,737
6,938,680
ebt Results
February
2,892,825
3,177,581
2,017,987
March
4,447,404
6,938,680
5,754,537
April
8,804,250
10,526,916
12,043,361
May
13,885,560
11,565,271
19,390,528
June
17,588,376
7,866,326
24,728,089
chi proposal.
90
Pro Forma
February
2,892,825
433,924
2,458,901
2,132,012
326,889
454,501
84,130
20,368
(232,110)
(69,633)
(162,477)
March
4,447,404
667,111
3,780,293
3,277,737
502,557
454,501
87,047
46,959
(85,950)
(25,785)
(60,165)
April
8,804,250
1,320,638
7,483,613
6,488,732
994,880
454,501
87,047
107,529
345,804
103,741
242,063
May
13,885,560
2,082,834
11,802,726
10,233,658
1,569,068
454,501
87,047
189,913
837,608
251,282
586,325
June
17,588,376
2,638,256
14,950,120
12,962,633
1,987,486
454,501
89,964
266,550
1,176,472
352,942
823,531
February
March
April
May
June
750,000
3,291,542
3,177,581
7,219,123
8,648,885
15,868,008
750,000
5,012,144
6,938,680
12,700,824
8,911,838
21,612,662
750,000
10,301,737
10,526,916
21,578,653
8,824,791
30,403,445
750,000
17,997,155
11,565,271
30,312,426
8,737,744
39,050,171
750,000
24,748,757
7,866,326
33,365,083
8,997,780
42,362,863
2,485,482
2,017,987
(146,229)
4,357,241
11,510,767
15,868,008
5,079,536
5,754,537
(172,014)
10,662,060
10,950,602
21,612,662
7,235,691
12,043,361
(68,272)
19,210,780
11,192,665
30,403,445
7,697,643
19,390,528
183,010
27,271,181
11,778,990
39,050,171
5,532,254
24,728,089
0
30,260,342
12,102,521
42,362,863
nts
February
March
April
May
June
2,892,825
3,317,001
2,017,987
4,447,404
5,911,055
5,754,537
8,804,250
8,067,210
12,043,361
13,885,560
8,529,162
19,390,528
17,588,376
6,363,772
24,728,089
2,374,632
664,689
2,726,802
3,736,550
3,514,657
6,288,824
6,190,142
7,347,166
10,836,774
5,337,561
1,589,947
0
20,368
433,924
454,501
0
540,582
0
3,039,321
3,317,001
350,000
46,959
667,111
454,501
0
1,127,780
500,000
6,463,352
5,911,055
0
107,529
1,320,638
454,501
0
2,009,759
0
9,803,481
8,067,210
0
189,913
2,082,834
454,501
0
2,742,851
0
13,537,309
8,529,162
350,000
266,550
2,638,256
454,501
535,952
2,899,915
500,000
16,174,335
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
750,000
tements
February
2,773,349
2,892,825
1,046,448
1,328,184
3,291,542
March
3,291,542
4,447,404
1,157,130
1,569,672
5,012,144
April
5,012,144
8,804,250
1,778,962
1,735,695
10,301,737
May
10,301,737
13,885,560
3,521,700
2,668,442
17,997,155
June
17,997,155
17,588,376
5,554,224
5,282,550
24,748,757
P
P
P
lesm+2 x ( ) x .65) + (Salesm+2 x ( ) x .35 x .05) + (Salesm x ( ) x .35 x .95)
S
S
S
1,452,010
3,317,001
540,582
2,132,012
3,177,581
3,177,581
5,911,055
1,127,780
3,277,737
6,938,680
6,938,680
8,067,210
2,009,759
6,488,732
10,526,916
10,526,916
8,529,162
2,742,851
10,233,658
11,565,271
11,565,271
6,363,772
2,899,915
12,962,633
7,866,326
758,428
3,317,001
1,589,947
2,485,482
2,485,482
5,911,055
3,317,001
5,079,536
5,079,536
8,067,210
5,911,055
7,235,691
7,235,691
8,529,162
8,067,210
7,697,643
7,697,643
6,363,772
8,529,162
5,532,254
11,673,244
(162,477)
0
11,510,767
11,510,767
(60,165)
500,000
10,950,602
10,950,602
242,063
0
11,192,665
11,192,665
586,325
0
11,778,990
11,778,990
823,531
500,000
12,102,521
(76,596)
(146,229)
(172,014)
(68,272)
183,010
(69,633)
0
(146,229)
(25,785)
0
(172,014)
103,741
0
(68,272)
251,282
0
183,010
352,942
535,952
0
10,095,646
0
10,095,646
84,130
1,446,761
8,648,885
10,095,646
350,000
10,445,646
87,047
1,533,808
8,911,838
10,445,646
0
10,445,646
87,047
1,620,855
8,824,791
10,445,646
0
10,445,646
87,047
1,707,902
8,737,744
10,445,646
350,000
10,795,646
89,964
1,797,866
8,997,780
2,017,987
2,017,987
0
5,754,537
5,754,537
0
12,043,361
12,043,361
0
19,390,528
19,390,528
0
24,728,089
24,728,089
0
April
8,804,250
242,063
May
13,885,560
586,325
June
17,588,376
823,531
July
16,315,533
715,757
August
8,572,824
155,430
750,000
10,301,737
10,526,916
21,578,653
8,824,791
30,403,445
750,000
17,997,155
11,565,271
30,312,426
8,737,744
39,050,171
750,000
24,748,757
7,866,326
33,365,083
8,997,780
42,362,863
750,000
25,697,604
2,836,169
29,283,773
8,907,817
38,191,590
750,000
17,191,189
1,360,948
19,302,136
8,817,853
28,119,989
7,235,691
12,043,361
(68,272)
19,210,780
11,192,665
30,403,445
7,697,643
19,390,528
183,010
27,271,181
11,778,990
39,050,171
5,532,254
24,728,089
0
30,260,342
12,102,521
42,362,863
3,999,190
21,067,369
306,753
25,373,312
12,818,278
38,191,590
2,368,990
12,403,927
373,366
15,146,282
12,973,707
28,119,989
6,938,680
8,067,210
2,009,759
6,488,732
10,526,916
10,526,916
8,529,162
2,742,851
10,233,658
11,565,271
11,565,271
6,363,772
2,899,915
12,962,633
7,866,326
7,866,326
4,830,709
2,163,683
12,024,548
2,836,169
2,836,169
3,200,508
1,642,441
6,318,171
1,360,948
July
16,315,533
2,836,169
21,067,369
July
16,315,533
2,447,330
13,868,203
12,024,548
1,843,655
454,501
89,964
276,681
1,022,510
306,753
715,757
August
8,572,824
1,360,948
12,403,927
August
8,572,824
1,285,924
7,286,900
6,318,171
968,729
454,501
89,964
202,222
222,042
66,613
155,430
September
5,031,000
957,916
5,990,806
October
4,447,404
263,009
2,980,827
November
3,531,762
176,466
1,646,578
September
October
November
5,031,000
754,650
4,276,350
3,707,847
568,503
454,501
92,880
111,135
(90,013)
(27,004)
(63,009)
4,447,404
667,111
3,780,293
3,277,737
502,557
454,501
92,880
54,204
(99,028)
(29,708)
(69,320)
3,531,762
529,764
3,001,998
2,602,909
399,089
454,501
92,880
27,957
(176,249)
(52,875)
(123,374)
July
August
September
October
November
750,000
25,697,604
2,836,169
29,283,773
8,907,817
38,191,590
750,000
17,191,189
1,360,948
19,302,136
8,817,853
28,119,989
750,000
9,003,739
957,916
10,711,655
9,074,973
19,786,628
750,000
6,295,049
263,009
7,308,058
8,982,092
16,290,151
750,000
5,029,249
176,466
5,955,716
8,889,212
14,844,928
3,999,190
21,067,369
306,753
25,373,312
12,818,278
38,191,590
2,368,990
12,403,927
373,366
15,146,282
12,973,707
28,119,989
1,385,123
5,990,806
0
7,375,929
12,410,698
19,786,628
997,653
2,980,827
(29,708)
3,948,772
12,341,379
16,290,151
1,062,928
1,646,578
(82,583)
2,626,923
12,218,005
14,844,928
July
August
September
October
November
16,315,533
4,830,709
21,067,369
8,572,824
3,200,508
12,403,927
5,031,000
2,216,642
5,990,806
4,447,404
1,829,172
2,980,827
3,531,762
1,894,447
1,646,578
15,366,686
(3,660,720)
17,079,239
(8,663,442)
13,218,449
(6,413,121)
7,156,094
(3,009,979)
4,797,562
(1,334,249)
6,363,772
0
276,681
2,447,330
454,501
0
2,163,683
0
11,705,966
4,830,709
0
202,222
1,285,924
454,501
0
1,642,441
0
8,415,797
3,200,508
350,000
111,135
754,650
454,501
346,362
1,088,173
500,000
6,805,329
2,216,642
0
54,204
667,111
454,501
0
753,658
0
4,146,115
1,829,172
0
27,957
529,764
454,501
0
621,919
0
3,463,313
750,000
750,000
July
750,000
750,000
August
750,000
750,000
September
750,000
750,000
October
750,000
750,000
November
24,748,757
16,315,533
7,035,350
8,331,336
25,697,604
25,697,604
8,572,824
6,526,213
10,553,026
17,191,189
17,191,189
5,031,000
3,429,130
9,789,320
9,003,739
9,003,739
4,447,404
2,012,400
5,143,694
6,295,049
6,295,049
3,531,762
1,778,962
3,018,600
5,029,249
7,866,326
4,830,709
2,163,683
12,024,548
2,836,169
2,836,169
3,200,508
1,642,441
6,318,171
1,360,948
1,360,948
2,216,642
1,088,173
3,707,847
957,916
957,916
1,829,172
753,658
3,277,737
263,009
263,009
1,894,447
621,919
2,602,909
176,466
5,532,254
4,830,709
6,363,772
3,999,190
3,999,190
3,200,508
4,830,709
2,368,990
2,368,990
2,216,642
3,200,508
1,385,123
1,385,123
1,829,172
2,216,642
997,653
997,653
1,894,447
1,829,172
1,062,928
12,102,521
715,757
0
12,818,278
12,818,278
155,430
0
12,973,707
12,973,707
(63,009)
500,000
12,410,698
12,410,698
(69,320)
0
12,341,379
12,341,379
(123,374)
0
12,218,005
306,753
373,366
(29,708)
306,753
0
306,753
66,613
0
373,366
(27,004)
346,362
0
(29,708)
0
(29,708)
(52,875)
0
(82,583)
10,795,646
0
10,795,646
89,964
1,887,829
8,907,817
10,795,646
0
10,795,646
89,964
1,977,793
8,817,853
10,795,646
350,000
11,145,646
92,880
2,070,673
9,074,973
11,145,646
0
11,145,646
92,880
2,163,554
8,982,092
11,145,646
0
11,145,646
92,880
2,256,434
8,889,212
21,067,369
21,067,369
0
12,403,927
12,403,927
0
5,990,806
5,990,806
0
2,980,827
2,980,827
0
1,646,578
1,646,578
0
September
5,031,000
(63,009)
October
4,447,404
(69,320)
November
3,531,762
(123,374)
December
2,767,050
(181,100)
750,000
9,003,739
957,916
10,711,655
9,074,973
19,786,628
750,000
6,295,049
263,009
7,308,058
8,982,092
16,290,151
750,000
5,029,249
176,466
5,955,716
8,889,212
14,844,928
750,000
3,715,152
614,822
5,079,974
9,143,415
14,223,389
1,385,123
5,990,806
0
7,375,929
12,410,698
19,786,628
997,653
2,980,827
(29,708)
3,948,772
12,341,379
16,290,151
1,062,928
1,646,578
(82,583)
2,626,923
12,218,005
14,844,928
1,002,041
1,844,640
(160,197)
2,686,484
11,536,905
14,223,389
1,360,948
2,216,642
1,088,173
3,707,847
957,916
957,916
1,829,172
753,658
3,277,737
263,009
263,009
1,894,447
621,919
2,602,909
176,466
176,466
1,833,560
644,112
2,039,316
614,822
December
2,767,050
415,058
2,351,993
2,039,316
312,677
454,501
95,797
21,093
(258,714)
(77,614)
(181,100)
The Year
90,900,108
13,635,016
77,265,092
66,993,380
10,271,712
5,454,006
1,073,731
11,145
2,407,054
722,116
1,684,938
=========== ===========
December
750,000
3,715,152
614,822
5,079,974
9,143,415
14,223,389
1,002,041
1,844,640
(160,197)
2,686,484
11,536,905
14,223,389
December
January
2,767,050
1,833,560
1,844,640
4,081,147
198,063
1,894,447
350,000
21,093
415,058
454,501
0
644,112
500,000
4,279,210
0
3,400,956
February
3,616,031
750,000
750,000
December
5,029,249
2,767,050
1,412,705
2,668,442
3,715,152
176,466
1,833,560
644,112
2,039,316
614,822
1,062,928
1,833,560
1,894,447
1,002,041
12,218,005
(181,100)
500,000
11,536,905
(82,583)
(77,614)
0
(160,197)
11,145,646
350,000
11,495,646
95,797
2,352,231
9,143,415
1,844,640
1,844,640
0
127,447,752
1,400,000
128,847,752
1,073,731
23,456,837
106,669,415
2.88%
8.33%
73.21%
58.33%
February
3.18%
8.33%
March
4.89%
8.33%
April
9.69%
8.33%
May
June
July
15.28%
8.33%
19.35%
8.33%
17.95%
8.33%
August
9.43%
8.33%
4.89%
8.33%
3.89%
8.33%
3.04%
8.33%
A
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
Gross Sales
Excise Tax
Net Sales
Cost of Goods
Gross Profits
Operating Expenses
Depreciation
Interest Expense
Profit Before Tax
Income Tax
Net Profit
Exhibit 2
SENGUPTA FIBRES, LTD.
Historical Annual Income Statements
(In Rupees)
1999
(Actual)
64,487,358
9,673,104
54,814,254
44,496,277
10,317,977
3,497,305
769,103
910,048
5,141,521
1,542,456
3,599,065
2000
(Actual)
75,867,480
11,380,122
64,487,358
53,865,911
10,621,447
4,828,721
908,608
1,240,066
3,644,052
1,093,216
2,550,836
2001
(Forecast)
90,900,108
13,635,016
77,265,092
66,993,380
10,271,712
5,454,006
1,073,731
1,835,620
1,908,354
572,506
1,335,848
Exhibit TN 5
Sensitivity Analysis of Peak and Ending Debt to Variations in Sales and COGS
100
95
90
85
80
75
Operating expenses as
a % of sales
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
Wages as a percentage
of purchases
34.0%
33.0%
32.0%
31.0%
30.0%
29.0%
28.0%
27.0%
26.0%
Peak Debt
32,950,665
31,216,310
29,481,954
27,747,599
26,013,244
24,278,889
Peak Debt
32,950,665
32,621,294
32,291,923
31,963,281
31,635,709
31,308,137
Peak Debt
32,950,665
32,675,829
32,400,993
32,126,157
31,851,322
31,576,486
31,301,650
31,026,814
30,751,978
End Debt
3,463,701
3,280,920
3,098,139
2,915,358
2,732,577
2,549,796
End Debt
3,463,701
2,714,270
1,964,839
1,260,586
588,325
(83,937)
End Debt
3,463,701
3,063,969
2,664,236
2,264,503
1,864,771
1,465,038
1,065,305
665,573
265,840