M/S SHRI SHIKHARJEE RICE OIL LLP

ANNEXURE-I
PROJECT COST SUMMARY

COST OF PROJECT
Amount Amount
Particulars
(Rs. In Lacs) (Rs. In Lacs)
Land -

Building & Civil Work

Road & Site Development & other civil work 100.00
with related to Plant 315.19 415.19

Infrastructure Development
Power 50.00
Water 59.77 109.77

Plant & Machinery

Solvent, Refinery & Boiler 1,432.43
Water Treatment Plant 54.83 1,487.26

Preliminary Preoperative expences 75.00

Margin Money for Working Capital 179.00

Total Project Cost 2,266.22

MEANS OF FINANCE
Amount Amount
Particulars
(Rs. In Lacs) (Rs. In Lacs)

Partners' Capital 606.22

Term Loan from Bank 625.00

Unsecured Loan 535.00

MOFPI GRANT 500.00

Total Sources Of Finance 2,266.22

Cash Credit Limit 550.00

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PROJECTED BALANCE SHEET

(Amount in Rs. Lacs)

Particulars Year 0 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24

LIABLITIES
- - - - - - -

Partners' Capital Account 606.22 693.67 828.18 1,013.31 1,244.69 1,518.49 1,831.41

Unsecured Loans 535.00 535.00 535.00 535.00 535.00 535.00 535.00

Secured Loans
i) Cash Credit from Bank - 550.00 550.00 550.00 550.00 550.00 550.00
ii) Term Loan From Bank 625.00 564.24 460.07 355.90 251.74 147.57 43.40
ii) MOFPI GRANT 500.00 500.00 500.00 500.00 500.00 500.00 500.00
Sundry Creditors - 149.10 150.04 154.50 159.01 163.51 168.01

Other Current Liabilities - 6.43 6.81 7.05 7.30 7.55 7.80

TOTAL 2,266.22 2,998.44 3,030.10 3,115.77 3,247.73 3,422.12 3,635.62

ASSETS

Gross Block 2,012.22 2,012.22 2,012.22 2,012.22 2,012.22 2,012.22 2,012.22

Less: Depreciation - 275.59 512.46 716.16 891.43 1,042.33 1,172.32
Net Block 2,012.22 1,736.64 1,499.76 1,296.06 1,120.79 969.89 839.90

Capital Work in Progress - 240.00 330.00 510.00 690.00 940.00 1,220.00

Investments -

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 Current Assets
Inventory - 468.63 485.41 499.98 515.11 529.24 544.47
Sundry Debtors - 247.59 400.80 481.58 566.36 582.32 598.30
Cash & Bank Balance 179.00 245.59 269.12 298.15 340.47 400.66 432.95
Other current assets
Deposits - - - - -
Non Current Assets
Preliminary Expences 75.00 60.00 45.00 30.00 15.00 - -

TOTAL 2,266.22 2,998.44 3,030.10 3,115.77 3,247.73 3,422.12 3,635.62

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CURRENT RATIO ANALYSIS

Particulars 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24

Current Assets
Inventory 468.63 485.41 499.98 515.11 529.24 544.47
Sundry Debtors 247.59 400.80 481.58 566.36 582.32 598.30
Cash & Bank Balance 245.59 269.12 298.15 340.47 400.66 432.95
Other Current Assets - - - - - -
Deposits - - - - - -
Total Current Assets 961.81 1,155.33 1,279.71 1,421.94 1,512.23 1,575.72

Current Liabilities
Sundry Creditors 149.10 150.04 154.50 159.01 163.51 168.01
Expenses Payable 6.43 6.81 7.05 7.30 7.55 7.80
Working Capital Loan 550.00 550.00 550.00 550.00 550.00 550.00
Total Current Liabilities 705.54 706.85 711.56 716.30 721.06 725.81
Net Working Capital 256.27 448.48 568.16 705.64 791.17 849.91
Current Ratio 1.36 1.63 1.80 1.99 2.10 2.17

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 ANNEXURE-II
PROJECTED BALANCE SHEET

(Amount in Rs. Lacs)

2024-25

2,221.30

535.00

550.00
0.00
500.00
179.68

7.97

3,993.94

2,012.22
1,284.35
727.87

1,570.00

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 598.48
637.14
460.46

3,993.94

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CURRENT RATIO ANALYSIS

2024-25

598.48
637.14
460.46
-
-
1,696.07

179.68
7.97
550.00
737.64
958.43
2.30

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ANNEXURE-III
PROFITABILITY STATEMENT

(Amount in Rs. Lacs)

Particulars 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25

INCOME
Sales 9,474.14 10,008.93 10,307.92 10,606.36 10,906.35 11,204.25 11,941.00

Total (A) 9,474.14 10,008.93 10,307.92 10,606.36 10,906.35 11,204.25 11,941.00

EXPENDITURE
Opening Stock of Raw Material - 225.47 234.87 242.07 249.26 256.46 263.66
Add: Purchase of Raw Material 9,035.71 9,092.41 9,362.99 9,635.77 9,908.54 10,181.32 10,888.31
Less: Closing Stock of Raw Material 225.47 234.87 242.07 249.26 256.46 263.66 298.90
Raw Material Consumed (B) 8,810.24 9,083.01 9,355.79 9,628.57 9,901.34 10,174.12 10,853.06

Power 244.70 259.59 267.34 275.09 282.84 290.59 290.59

Direct Labour & Wages 63.50 66.68 70.01 73.51 77.19 81.05 85.10
Repairs & Maintenance 20.12 21.13 22.18 23.29 24.46 25.68 26.97
Depreciation as per WDV Method 275.59 236.87 203.70 175.27 150.90 129.98 112.04
Direct Cost (C) 9,414.15 9,667.29 9,919.03 10,175.74 10,436.73 10,701.42 11,367.75

Administration & Selling Expenses

Salaries to Staf 11.52 12.10 12.70 13.34 14.00 14.70 15.44
Administration Overheads 13.60 14.28 14.99 15.74 16.53 17.36 18.23
Selling Expenses 36.33 38.93 40.10 41.26 42.42 43.59 46.43
Preliminary expences w/of 15.00 15.00 15.00 15.00 15.00 - -
INTEREST
Interest on Term Loan 76.23 64.56 51.54 38.52 25.50 12.48 1.36
Interest on Working Capital Loan 66.00 66.00 66.00 66.00 66.00 66.00 66.00
142.23 130.56 117.54 104.52 91.50 78.48 67.36

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Cost of Production (D) 9,617.83 9,863.16 10,104.37 10,350.60 10,601.19 10,855.55 11,515.20
Add: Opening Stock of Finished Goods - 243.16 250.54 257.92 265.84 272.78 280.81
Less: Closing Stock of Finished Goods 243.16 250.54 257.92 265.84 272.78 280.81 299.58
Cost of Sales (E) 9,374.67 9,855.77 10,096.99 10,342.67 10,594.25 10,847.52 11,496.43
Profit before Tax,interest & Remuneration 99.47 153.16 210.93 263.69 312.10 356.73 444.56
Income Tax 12.02 18.65 25.79 32.31 38.30 43.81 54.67
Profit After Tax 87.45 134.50 185.14 231.38 273.80 312.92 389.89

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ANNEXURE-IV
CASH FLOW STATEMENT

(Amount in Rs. Lacs)

Particulars Year 0 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25

Opening Balance - 179.00 245.59 269.12 298.15 340.47 400.66 432.95

SOURCES OF FUNDS
Profit after Tax - 87.45 134.50 185.14 231.38 273.80 312.92 389.89
- - - - - - - -
MOFPI GRANT 500.00
Increase in Partners' Capital 606.22 - - - - - - -
Increase in Unsecured Loan 535.00 - - - - - - -
Increase in Term Loan 625.00 - - - - - - -
Increase in Borrowings for Working Capital - 550.00 - - - - - -
Decrease in Current Assets - - - - - - - -
Decrease in Investments - - - - - - - -
Increase in Current Liabilities - 155.54 1.31 4.71 4.75 4.75 4.76 11.83
Depreciation - 275.59 236.87 203.70 175.27 150.90 129.98 112.04
Preliminary expences 15.00 15.00 15.00 15.00 15.00
TOTAL (A) 2,266.22 1,083.57 387.69 408.55 426.40 444.45 447.66 513.76

APPLICATION OF FUNDS
Increase in Capital Expenditure 2,087.22 - - - - - - -
Decrease in Capital - - - - - - - -
Increase in Current Assets - 716.22 169.99 95.35 99.91 30.09 31.20 92.85
Decrease in Working Capital Loan - - - - - - - -
capital work in progress - 240.00 90.00 180.00 180.00 250.00 280.00 350.00
Decrease in Current Liabilities - - - - - - - -
Term Loan Repayment - 60.76 104.17 104.17 104.17 104.17 104.17 43.40
TOTAL (B) 2,087.22 1,016.99 364.16 379.52 384.08 384.26 415.37 486.25
Closing Balance (A-B) 179.00 245.59 269.12 298.15 340.47 400.66 432.95 460.46
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Annexure - V

Calculation of Grant

Particulars Cost Grant Amount

(in Rs. Lacs) % of Grant (Rs. In Lakhs)

Technical Civil Work 57.86 25% 14.47

Plant & Machinery (Eligible Portion) 1,432.43 25% 358.11

Total.. 372.57

Calculation of Venture Capital Assistance from SFAC

Particulars Amount Grant Amount

(in Rs. Lacs) % of Grant (Rs. In Lakhs)

Partner's Capital 606.22 26% 157.62

Total 157.62
M/S SHRI SHIKHARJEE RICE OIL LLP

ANNEXURE-V
DEBT SERVICE COVERAGE RATIO

(Amount in Rs. Lacs)

PARTICULARS 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25

Profit after Tax 87.45 134.50 185.14 231.38 273.80 312.92 444.56

Add: Depreciation 275.59 236.87 203.70 175.27 150.90 129.98 112.04

Interest on Term Loan 76.23 64.56 51.54 38.52 25.50 12.48 1.36
Net Cash Accruals (A) 439.26 435.94 440.38 445.17 450.20 455.38 557.96

Term loan Installment 60.76 104.17 104.17 104.17 104.17 104.17 43.40
Interest on Term Loan 76.23 64.56 51.54 38.52 25.50 12.48 1.36
Net Cash Paid (B) 136.99 168.73 155.71 142.69 129.67 116.64 44.76

Debt Service Coverage Ratio (A/B) 3.21 2.58 2.83 3.12 3.47 3.90 12.47

Average DSCR 4.51

Weighted Average DSCR 3.60

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ANNEXURE-VI
BREAK EVEN ANALYSIS
(Amount in Rs. Lacs)
% of Total
Particulars 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Expenditure
Net Sales (A) 9,474.14 10,008.93 10,307.92 10,606.36 10,906.35 11,204.25

Variable Costs
Raw Materials 100% 8,810.24 9,083.01 9,355.79 9,628.57 9,901.34 10,174.12
Selling exp. 100% 36.33 38.93 40.10 41.26 42.42 43.59
Labour 75% 47.63 50.01 52.51 55.14 57.89 60.79
Power 75% 183.53 194.69 200.51 206.32 212.13 217.94
Repairs & Maintainance 75% 15.09 15.85 16.64 17.47 18.34 19.26
Salaries 75% 8.64 9.07 9.53 10.00 10.50 11.03
Office & Admn. Overheads 75% 10.20 10.71 11.25 11.81 12.40 13.02
Variation in Closing Stock (243.16) (7.38) (7.37) (7.93) (6.93) (8.03)

Total Variable Cost (B) 8,868.50 9,394.90 9,678.94 9,962.63 10,248.10 10,531.71
Contribution (C) (A-B) 605.64 614.03 628.98 643.73 658.25 672.54
P.V.R. (D) (C/A) 6.39% 6.13% 6.10% 6.07% 6.04% 6.00%

Fixed Costs
Labour 25% 15.88 16.67 17.50 18.38 19.30 20.26
Power 25% 61.18 64.90 66.84 68.77 70.71 72.65
Repairs & Maintainance 25% 5.03 5.28 5.55 5.82 6.11 6.42
Salaries 25% 2.88 3.02 3.18 3.33 3.50 3.68
Office & Admn. Overheads 25% 3.40 3.57 3.75 3.94 4.13 4.34
Depreciation 100% 275.59 236.87 203.70 175.27 150.90 129.98
Interest on Term Loan 100% 76.23 64.56 51.54 38.52 25.50 12.48
Total Fixed Cost 440.17 394.88 352.05 314.04 280.15 249.81
Total Cash Fixed Cost 164.59 158.01 148.35 138.76 129.25 119.82

Break Even Sales 6,885.70 6,436.63 5,769.53 5,174.23 4,641.74 4,161.71

Cash Break Even Sales 2,574.68 2,575.54 2,431.19 2,286.34 2,141.58 1,996.22
###
Cash Break Even As a percentage of sales 27.18% 25.73% 23.59% 21.56% 19.64% 17.82%

CASH Average BEP 22.58%

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Annexure VII
INTERNAL RATE OF RETURN

(Amount in Rs. Lacs)

Constn. Operating Years
Period 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
Project Expenditure -2087.22 IRR On the Basis of PAT
PAT+INT 229.68 265.07 302.68 335.90 365.30 391.39 457.25
Add : Depn.+ Prelim Expenses 290.59 251.87 218.70 190.27 165.90 129.98 112.04
520.26 516.94 521.38 526.17 531.20 521.38 569.29

Gross cash inflow 520.26 516.94 521.38 526.17 531.20 521.38 569.29
Add :Terminal Value of Project % 0.00 727.87
-2087.22 520.26 516.94 521.38 526.17 531.20 521.38 1297.15
IRR 20.17%

Constn. Operating Years

Period 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
Capital Employed -1641.22 IRR On the Basis of PAT
PAT 87.45 134.50 185.14 231.38 273.80 312.92 389.89
Add : Depn.+ Prelim Expenses 290.59 251.87 218.70 190.27 165.90 129.98 112.04
378.04 386.38 403.84 421.65 439.70 442.90 501.93

Gross cash inflow 378.04 386.38 403.84 421.65 439.70 442.90 501.93
Add : Inventory
Add :Terminal Value of Project % 0.00 727.87
-1641.22 378.04 386.38 403.84 421.65 439.70 442.90 1229.80

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IRR 20.89%

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M/S SHRI SHIKHARJEE RICE OIL LLP
ANNEXURE-VIII
WORKING CAPITAL REQUIREMENTS
(Amount in Rs. Lacs)
Paticulars % of No.of
2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
Sales Days

CURRENT ASSETS
Raw Material
RICE BRAN 2 56.16 57.89 59.62 61.34 63.07 64.80 69.12
HUSK 5 2.63 2.71 2.79 2.88 2.96 3.04 3.24
HEXAINE 30 7.02 7.24 7.45 7.67 7.88 8.10 26.64
CRUDE OIL 5 145.76 150.25 154.73 159.22 163.70 168.19 179.40
PHOSPHORIC ACID 30 0.67 0.69 0.71 0.73 0.75 0.77 0.82
BLEACHING EARTH 30 5.43 5.60 5.76 5.93 6.10 6.26 6.68
SPARES & STORES 7.80 10.50 11.00 11.50 12.00 12.50 13.00

Total Stock of Raw Materials 225.47 234.87 242.07 249.26 256.46 263.66 298.90

Finished Goods
Edible Oil 3 51.21 52.52 53.83 55.80 57.12 59.09 63.02
Fatty Acid 5 10.12 10.56 11.00 11.44 11.44 11.88 12.76
Gum, Wax 5 0.16 0.16 0.17 0.17 0.18 0.18 0.19
DORB 14 181.68 187.30 192.92 198.43 204.05 209.66 223.60
Total Stock of Finished Goods 243.16 250.54 257.92 265.84 272.78 280.81 299.58

Sundry Debtors
DORB 100% 20 247.59 400.80 481.58 566.36 582.32 598.30 637.14
EDIBLE OIL 100% 10 168.32 175.19 180.43 185.64 190.89 196.10 209.11
Total Sundry Debtors 415.91 576.00 662.00 752.00 773.21 794.40 846.25

Gross Current Assets 884.54 1,061.41 1,161.99 1,267.11 1,302.45 1,338.86 1,444.72

CURRENT LIABILITIES

Sundry Creditors 100% 5 149.10 150.04 154.50 159.01 163.51 168.01 179.68

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 Creditors for Expenses 100% 5 6.43 6.81 7.05 7.30 7.55 7.80 7.97

Total Current Liabilities 155.54 156.85 161.56 166.30 171.06 175.81 187.64

Net Working Capital Required 729.00 904.56 1,000.43 1,100.80 1,131.40 1,163.05 1,257.08
Own Margin 179.00 354.56 450.43 550.80 581.40 613.05 707.08
Finance from Bank 550.00 550.00 550.00 550.00 550.00 550.00 550.00

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ANNEXURE-IX
CALCULATION OF PRODUCTION

Particulars 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25

CRUDE OIL EXTRACTION PLANT

Installed Capacity (TPD) 240 240 240 240 240 240 240

No. of Working Days per annum 303 303 303 303 303 303 303

INPUT Installed Capacity p.a. 72,720.00 72,720.00 72,720.00 72,720.00 72,720.00 72,720.00 72,720.00
RICE BRAN

Capacity Utilization 65% 67% 69% 71% 73% 75% 80%

Input In MTs (RICE BRAN) 47,268.00 48,722.40 50,176.80 51,631.20 53,085.60 54,540.00 58,176.00
`

Output

Crude Oil 20.00% 9453.60 9744.48 10035.36 10326.24 10617.12 10908.00 11635.20
De Oil Rice Bran (DORB) 80.00% 37814.40 38977.92 40141.44 41304.96 42468.48 43632.00 46540.80

EDIBLE OIL MILL PLANT (REFINERY)

Installed Capacity (TPD) 40 40 40 40 40 40 40

No. of Working Days per annum 303 303 303 303 303 303 303

Installed Capacity p.a. 12,120.00 12,120.00 12,120.00 12,120.00 12,120.00 12,120.00 12,120.00
CRUDE OIL
Capacity Utilization 78% 80% 83% 85% 88% 90% 96%

Input In MTs 9,453.60 9,744.48 10,035.36 10,326.24 10,617.12 10,908.00 11,635.20

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Output
RICE BRAN EDIBLE OIL
EDIBLE OIL 83.00% 7846.49 8087.92 8329.35 8570.78 8812.21 9053.64 9657.22
FATTY ACID 15.00% 1418.04 1461.67 1505.30 1548.94 1592.57 1636.20 1745.28
GUM, WAX 2.00% 189.07 194.89 200.71 206.52 212.34 218.16 232.70

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TOTAL RAW MATERIAL REQUIRMENT

Particulars 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25

RiceBran (in MT) 47,268.00 48,722.40 50,176.80 51,631.20 53,085.60 54,540.00 58,176.00
Rate (in Rs. Per MT) 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00

Total Rice Bran Cost 8,508.24 8,770.03 9,031.82 9,293.62 9,555.41 9,817.20 10,471.68

HEXAINE(in litre)
Consumed during the process 118,170.00 121,806.00 125,442.00 129,078.00 132,714.00 136,350.00 145,440.00
To be kept in process always 30,000.00 - - - - - -
Total Hexaine required 148,170.00 121,806.00 125,442.00 129,078.00 132,714.00 136,350.00 145,440.00
Rate (in Rs. Per Litre) 60.00 60.00 60.00 60.00 60.00 60.00 60.00

Total Hexaine Cost 70.90 73.08 75.27 77.45 79.63 81.81 87.26

Husk (in MT)

Solvent 3,545.10 3,654.18 3,763.26 3,872.34 3,981.42 4,090.50 4,363.20
Refinery 2,836.08 2,923.34 3,010.61 3,097.87 3,185.14 3,272.40 3,490.56
Total Husk required 6,381.18 6,577.52 6,773.87 6,970.21 7,166.56 7,362.90 7,853.76
Rate (in Rs. Per MT) 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00

Total Husk Cost 159.53 164.44 169.35 174.26 179.16 184.07 196.34

Phosphoric Acid 7.09 7.31 7.53 7.74 7.96 8.18 8.73

Rate (in Rs. Per MT) 95,000.00 95,000.00 95,000.00 95,000.00 95,000.00 95,000.00 95,000.00

Total Acid Cost 6.74 6.94 7.15 7.36 7.56 7.77 8.29

Bleaching Earth 274.15 282.59 291.03 299.46 307.90 316.33 337.42

Rate (in Rs. Per MT) 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00

Total Bleaching Cost 54.83 56.52 58.21 59.89 61.58 63.27 67.48

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 SPARES & STORES 10.00 10.00 10.00 10.00 10.00 10.00 10.00
Mothly requirement 100,000.00 120,000.00 140,000.00 160,000.00 180,000.00 200,000.00 220,000.00

Total Spares & Stores 10.00 12.00 14.00 16.00 18.00 20.00 22.00

Total Raw Material Cost 8,810.24 9,083.01 9,355.79 9,628.57 9,901.34 10,174.12 10,853.06

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ANNEXURE-X
CALCULATION OF SALES QUANTITY

Particulars Days 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25

EDIBLE OIL
Opening Stock - 78.00 80.00 82.00 85.00 87.00 90.00
Add: Production during the year 7,846.49 8,087.92 8,329.35 8,570.78 8,812.21 9,053.64 9,657.22
Less : Closing Stock 3 78.00 80.00 82.00 85.00 87.00 90.00 96.00
Sales Quantity (in MTs) 7,768.49 8,085.92 8,327.35 8,567.78 8,810.21 9,050.64 9,651.22

FATTY ACID
Opening Stock - 23.00 24.00 25.00 26.00 26.00 27.00
Add : Production 1,418.04 1,461.67 1,505.30 1,548.94 1,592.57 1,636.20 1,745.28
Less : Closing Stock 5 23.00 24.00 25.00 26.00 26.00 27.00 29.00
Sales Quantity (in MTs) 1,395.04 1,460.67 1,504.30 1,547.94 1,592.57 1,635.20 1,743.28

GUM, WAX
Opening Stock - 3.12 3.22 3.31 3.41 3.50 3.60
Add : Production 189.07 194.89 200.71 206.52 212.34 218.16 232.70
Less : Closing Stock 5 3.12 3.22 3.31 3.41 3.50 3.60 3.84
Sales Quantity (in MTs) 185.95 194.79 200.61 206.43 212.25 218.06 232.46

De Oil Rice Bran (DORB)

Opening Stock - 1,747.00 1,801.00 1,855.00 1,908.00 1,962.00 2,016.00
Add : Production 37,814.40 38,977.92 40,141.44 41,304.96 42,468.48 43,632.00 46,540.80
Less : Closing Stock 14 1,747.00 1,801.00 1,855.00 1,908.00 1,962.00 2,016.00 2,150.00

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Sales Quantity (in MTs) 36,067.40 38,923.92 40,087.44 41,251.96 42,414.48 43,578.00 46,406.80

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SALES REALIZATION

Particulars 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25

EDIBLE OIL
Net Selling Price Per MT (in Rs.) 65,650.00 65,650.00 65,650.00 65,650.00 65,650.00 65,650.00 65,650.00
Sales Quantity (in MTS) 7,768.49 8,085.92 8,327.35 8,567.78 8,810.21 9,050.64 9,651.22
Sales Realization (in Rs. Lacs) 5,100.01 5,308.41 5,466.90 5,624.75 5,783.90 5,941.75 6,336.02

FATTY ACID
Net Selling Price Per MT (in Rs.) 44,000.00 44,000.00 44,000.00 44,000.00 44,000.00 44,000.00 44,000.00
Sales Quantity (in MTS) 1,395.04 1,460.67 1,504.30 1,547.94 1,592.57 1,635.20 1,743.28
Sales Realization (in Rs. Lacs) 613.82 642.70 661.89 681.09 700.73 719.49 767.04

GUM, WAX
Net Selling Price Per MT (in Rs.) 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00
Sales Quantity (in MTS) 185.95 194.79 200.61 206.43 212.25 218.06 232.46
Sales Realization (in Rs. Lacs) 9.30 9.74 10.03 10.32 10.61 10.90 11.62

De Oil Rice Bran (DORB)

Net Selling Price Per MT (in Rs.) 10,400.00 10,400.00 10,400.00 10,400.00 10,400.00 10,400.00 10,400.00
Sales Quantity (in MTS) 36,067.40 38,923.92 40,087.44 41,251.96 42,414.48 43,578.00 46,406.80
Sales Realization (in Rs. Lacs) 3,751.01 4,048.09 4,169.09 4,290.20 4,411.11 4,532.11 4,826.31

Total Sales Realization 9,474.14 10,008.93 10,307.92 10,606.36 10,906.35 11,204.25 11,941.00

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ANNEXURE-XI
REPAYMENT OF TERM LOAN

Amount of Loan 625.00

Rate of Interest 12.50%
Repayment Period (Excluding moratorium period) 72 Months
Principal Instalment per month after 2 year 8.68
Moratorium Period 12 Months
No.of Instalments in a year 12.00
(Amount In Rs. Lacs)
Year Principal Interest Amount
Months
Repaid paid Outstanding

Year 2017-18 1 - 1.04 100.00

2 - 2.60 250.00
3 - 3.65 350.00
4 - 4.69 450.00
5 - 6.51 625.00
6 - 6.51 625.00
7 - 6.51 625.00

Year 2018-19 8 - 6.51 625.00

9 - 6.51 625.00
10 - 6.51 625.00
11 - 6.51 625.00
12 - 6.51 625.00
1 8.68 6.51 616.32
2 8.68 6.42 607.64
3 8.68 6.33 598.96
4 8.68 6.24 590.28
5 8.68 6.15 581.60
6 8.68 6.06 572.92
7 8.68 5.97 564.24

Year 2019-20 8 8.68 5.88 555.56

9 8.68 5.79 546.88
10 8.68 5.70 538.19
11 8.68 5.61 529.51
12 8.68 5.52 520.83
13 8.68 5.43 512.15
14 8.68 5.33 503.47
15 8.68 5.24 494.79
16 8.68 5.15 486.11
17 8.68 5.06 477.43
18 8.68 4.97 468.75
19 8.68 4.88 460.07

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M/S SHRI SHIKHARJEE RICE OIL LLP

Year 2020-21 20 8.68 4.79 451.39

21 8.68 4.70 442.71
22 8.68 4.61 434.03
23 8.68 4.52 425.35
24 8.68 4.43 416.67
25 8.68 4.34 407.99
26 8.68 4.25 399.31
27 8.68 4.16 390.63
28 8.68 4.07 381.94
29 8.68 3.98 373.26
30 8.68 3.89 364.58
31 8.68 3.80 355.90

Year 2021-22 32 8.68 3.71 347.22

33 8.68 3.62 338.54
34 8.68 3.53 329.86
35 8.68 3.44 321.18
36 8.68 3.35 312.50
37 8.68 3.26 303.82
38 8.68 3.16 295.14
39 8.68 3.07 286.46
40 8.68 2.98 277.78
41 8.68 2.89 269.10
42 8.68 2.80 260.42
43 8.68 2.71 251.74

Year 2022-23 44 8.68 2.62 243.06

45 8.68 2.53 234.38
46 8.68 2.44 225.69
47 8.68 2.35 217.01
48 8.68 2.26 208.33
49 8.68 2.17 199.65
50 8.68 2.08 190.97
51 8.68 1.99 182.29
52 8.68 1.90 173.61
53 8.68 1.81 164.93
54 8.68 1.72 156.25
55 8.68 1.63 147.57

Year 2023-24 56 8.68 1.54 138.89

57 8.68 1.45 130.21
58 8.68 1.36 121.53
59 8.68 1.27 112.85
60 8.68 1.18 104.17
61 8.68 1.09 95.49
62 8.68 0.99 86.81
63 8.68 0.90 78.13
64 8.68 0.81 69.44
65 8.68 0.72 60.76

26 PREPARED BY ASKCA ASSOCIATES

66 8.68 0.63 52.08
67 8.68 0.54 43.40

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M/S SHRI SHIKHARJEE RICE OIL LLP

Year 2024-25 68 8.68 0.45 34.72

69 8.68 0.36 26.04
70 8.68 0.27 17.36
71 8.68 0.18 8.68
72 8.68 0.09 0.00
Total 625.00 301.69 -

SUMMERY OF INTEREST & PRINCIPAL PAYMENT

(Rs. Lacs)
Particulars Principal Interest Capitalized Total
Year 0 - 31.51 - 31.51
Year 1 60.76 76.23 - 136.99
Year 2 104.17 64.56 - 168.73
Year 3 104.17 51.54 - 155.71
Year 4 104.17 38.52 - 142.69
Year 5 104.17 25.50 - 129.67
Year 6 104.17 12.48 - 116.64
Year 7 43.40 1.36 - 44.76
Total 625.00 301.69 - 926.69

NOTE : Interest during Implementation cum Moratorium Period will be served as &
then by Promoters from their other source income

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ANNEXURE-XII
POWER REQUIRMENT FOR RICE BRAN REFINARY

A) Power Requirement 410.00 KVA

B) No. of shifts Per day 3.00 Shifts
C) No. of Hours. Per Shift 8.00 Hours
D) No.of Working Days 303.00 days
F) Power Factor 0.80
G) Load Factor 0.90
H) Units Consumed per Annum 2,650,240.00
(A x B x C x D x E x F x G)

Rate per Unit (Rs./kWh) 7.00 Rs.

Power Rate Capacity Power Cost

Particulars Units Consumed (Rs./unit) Utilization (Rs. In Lacs)
Power Consumed at 100% 2,650,240.00 7.00 100% 185.52
Year 1 2,650,240.00 7.00 78% 144.70
Year 2 2,650,240.00 7.00 80% 149.16
Year 3 2,650,240.00 7.00 83% 153.61
Year 4 2,650,240.00 7.00 85% 158.06
Year 5 2,650,240.00 7.00 88% 162.51
Year 6 2,650,240.00 7.00 90% 166.97
Year 7 2,650,240.00 7.00 96% 178.10

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POWER REQUIRMENT FOR RICE BRAN SOLVENT PLANT

A) Power Requirement 340.00 KVA

B) No. of shifts Per day 3.00 Shifts
C) No. of Hours. Per Shift 8.00 Hours
D) No.of Working Days 303.00 days
F) Power Factor 0.80
G) Load Factor 0.90
H) Units Consumed per Annum 2,197,760.00
(A x B x C x D x E x F x G)

Rate per Unit (Rs./kWh) 7.00 Rs.

Power Rate Capacity Power Cost

Particulars Units Consumed (Rs./unit) Utilization (Rs. In Lacs)
Power Consumed at 100% 2,197,760.00 7.00 100% 153.84
Year 1 2,197,760.00 7.00 65% 100.00
Year 2 2,197,760.00 7.50 67% 110.44
Year 3 2,197,760.00 7.50 69% 113.73
Year 4 2,197,760.00 7.50 71% 117.03
Year 5 2,197,760.00 7.50 73% 120.33
Year 6 2,197,760.00 7.50 75% 123.62
Year 7 2,197,760.00 7.50 80% 131.87

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TOTAL POWER REQUIRMENT FOR PLANT

Power Rate Power Cost

Particulars Units Consumed (Rs./unit) (Rs. In Lacs)
Power Consumed at 100% 4,848,000.00 7.00 339.36
Year 1 4,848,000.00 7.00 244.70
Year 2 4,848,000.00 7.50 259.59
Year 3 4,848,000.00 7.50 267.34
Year 4 4,848,000.00 7.50 275.09
Year 5 4,848,000.00 7.50 282.84
Year 6 4,848,000.00 7.50 290.59
Year 7 4,848,000.00 7.50 309.96

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ANNEXURE-XII

PARTNERS CAPITAL ACCOUNT

FIXED CAPITAL (Amount in Rs. Lacs)

Particulars Year 0 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
Nishant Agrawal
Urmila Agrawal
Satish Agrawal
Total Fixed Capital - - - - - - - -

CURRENT ACCOUNT
Particulars Year 0 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25

kirti chouradia
Opening Balance - 303.11 346.84 414.09 506.66 622.34 759.25 915.70
Add: Additions during the year 303.11 - - - - - - -
Add: Profit during the year - 43.73 67.25 92.57 115.69 136.90 156.46 194.95
Total (A) 303.11 346.84 414.09 506.66 622.34 759.25 915.70 1,110.65

gyan chand chouradia

Opening Balance - 303.11 346.84 414.09 506.66 622.34 759.25 915.70
Add: Additions during the year 303.11 - - - - - - -
Add: Profit during the year - 43.73 67.25 92.57 115.69 136.90 156.46 194.95
Total (B) 303.11 346.84 414.09 506.66 622.34 759.25 915.70 1,110.65
Total Capital (A+B+C) 606.22 693.67 828.18 1,013.31 1,244.69 1,518.49 1,831.41 2,221.30
M/S SHRI SHIKHARJEE RICE OIL LLP

ANNEXURE-XIII
DIRECT LABOUR & WAGES

Particulars Permanent Per month Total

Nos. (in Rs.) (in Rs. Lacs)

Plant Incharge 1 40,000.00 4.80

SOLVENT
Solvent Incharge 1 20,000.00 2.40
Operator 2 15,000.00 3.60
Semiskilled Helper 3 10,000.00 3.60

REFINERY
Refinary Incharge 1 20,000.00 2.40
Operator 3 15,000.00 5.40
Semiskilled Helper 3 10,000.00 3.60

BOILER
Boiler Incharge 1 30,000.00 3.60
Operator 2 15,000.00
Semiskilled Helper 2 16,000.00 3.84

Electrician 1 30,000.00 3.60

Chemist 1 30,000.00 3.60

Semiskilled Helper 1 10,000.00
Workers

Unskilled Workers 10 8,000.00 9.60

Watchman 3 8,000.00 2.88

Total 35 277000 52.92

Add: Statutory Benefits @ 20% 10.58
Total Wages 35 277,000.00 63.50

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ANNEXURE-XIV
REPAIRS AND MAINTENANCE

(Amount In Rs. Lacs)

Value of Amount
Particulars Rate Assets

Infrastructure Development 1.00% 109.77 1.10

Plant & Machinery 1.00% 1,487.26 14.87
Builing, Godown 1.00% 415.19 4.15
Total 20.12

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ANNEXURE-XV
DEPRICIATION WORKING AS PER WDV METHOD

(Amount In Rs. Lacs)

Infrastructure
Particulars Land Building Plant & development Total
Machinery
Rate of Dep. 0% 10% 15% 10%

Opening WDV - - - - -
Additions in Year 0 - 415.19 1,487.26 109.77 2,012.22
Dep. In Year 0 - - - - -
WDV at the end of Year 0 - 415.19 1,487.26 109.77 2,012.22

Additions in Year 1 - - - - -
Add : Interest Capitalized - - - - -
Dep. In Year 2018-19 - 41.52 223.09 10.98 275.59
WDV at the end of Year 1 - 373.67 1,264.17 98.79 1,736.64

Additions in Year 2 - - - - -
Dep. In 2019-20 - 37.37 189.63 9.88 236.87
WDV at the end of Year 2 - 336.30 1,074.55 88.91 1,499.76

Additions in Year 3 - - - - -
Dep. In 2020-21 - 33.63 161.18 8.89 203.70
WDV at the end of Year 3 - 302.67 913.36 80.02 1,296.06

Additions in Year 4 - - - - -
Dep. In 2021-22 - 30.27 137.00 8.00 175.27
WDV at the end of Year 4 - 272.41 776.36 72.02 1,120.79

Additions in Year 5 - - - - -
Dep. In 2022-23 - 27.24 116.45 7.20 150.90
WDV at the end of Year 5 - 245.17 659.91 64.82 969.89

Additions in Year 6 - - - - -
Dep. In 2023-24 - 24.52 98.99 6.48 129.98
WDV at the end of Year 6 - 220.65 560.92 58.34 839.90

Additions in Year 7 - - - - -
Dep. In 2024-25 - 22.06 84.14 5.83 112.04
WDV at the end of Year 7 - 198.58 476.78 52.50 727.87

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ANNEXURE-XVI
SALARIES

(Amount In Rs. Lacs)

Particulars Permanent Rate per month
Total
Nos. (in Rs.)
Chartered Accountant 1 40,000.00 4.80
Administration Staf 2 15,000.00 3.60
Office Assistants 1 10,000.00 1.20
Total 4 9.60
Add: Statutory Benefits @ 20% 1.92
Total 11.52

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ANNEXURE-XVII
ADMINISTRATIVE EXPENSES

(Amount In Rs. Lacs)

Particulars Per Month
Total
(Rs)
Electricity Expenses 5,000.00 0.60
Postage, Telegram, Telephone 2,000.00 0.24
Rent, Rates & Taxes 5,000.00 0.60
Travelling & Conveyance 30,000.00 3.60
Printing & Stationary 5,000.00 0.60
Audit & Consultation 15,000.00 1.80
Newspaper & Periodicals 1,000.00 0.12
Office Expenses 17,000.00 2.02
Advertisement Expenses 2,000.00 0.24
License Renewal 1.80
Insurance Expenses 1.98
Total 13.60

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ANNEXURE-XVIII
SELLING EXPENSES

(Amt in Rs. Lacs)

Particulars 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25

Calculation Of Packing Material Cost

Packing Material (in Rs./MT) 80.00 80.00 80.00 80.00 80.00 80.00 80.00
Total Sales Quantity 45,417.00 48,665.00 50,120.00 51,574.00 53,030.00 54,482.00 58,034.00

Total Packing Material Cost (in Rs.lacs) 36.33 38.93 40.10 41.26 42.42 43.59 46.43

Total Selling Expenses 36.33 38.93 40.10 41.26 42.42 43.59 46.43

38 PREPARED BY ASKCA ASSOCIATES

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List of Plant & Machinery

Annexure-XXI

Cost Cost
Sr. No. Description with Specification Qty Name of Suppliers
( Rs. In Lacs) ( Rs. In Lacs)

1 Oil Expellers (Basic Cost) 2 Krishna Engineering 17.00

(Model Double Chamber Oil Expeller Fitted
with Steam Cooker / Kettle

Add: CST 0.34

Add: Erection Cost 0.03
Add: Other Miscellenous Expenses 0.02 17.385

2 Elevator & Conveyor Jalaram Industries

a) Bucket Elevator - 0.65

b) 12" Screw conveyor - 0.56

(with UCHB Hanging Bearing 2 No.s)

c) Platform for Elevator 1 0.08

d) Driving Attachment for elevator and

conveyor 2 Set 0.13

Add: CST 0.03 1.44

3 L&T Valves with miscellaneous items - Gupta Machinery Stores 0.32

Cyclone Dust Collector & other

4 miscellaneous Items Kedar Industries

a) Mechanical Cyclone Dust Collector 1 1.25

b) Frabrication & Erection of

- M.S. Chimney (Suitable for 1.5 TPH Boiler) 1 2.55

- M.S. Tank 1 0.63
- MS Ducting Boiler to Chimney 1 0.43
- Erection of M.S. Chimney 1 0.50
- Boiler Model (1.5 TPH) Erection. 1 0.75
- Steam pipeline 0.51
- Pressure reducing station as per IBR
regulations 1.45
- Steam Header 1 0.27

c) C.I. Valve Flange End 0.33

d) Scrutiny fees & other charges 0.10 8.77

5 Exhaust Blower 1 Techno Air Engineer 0.44

6 Spiral Vavle Spirax Marshall P. Ltd.

a) Pilot operated self acting pressure reducing

Valve 1 0.43

b) Safety Valve 5 0.19

c) P&F Charges 0.02

d) Excise Duty on a & b 0.08

d) CST 0.02 0.72

7 11 KV H.T. Metering Cubicle 1 Koyna Engineers PVT. LTD. 1.33

HT Line with Transformers ,Electrification Sood Powertech Services

8 & Sheet

Basic Cost 11.55

Erection & Transportation 2.23 13.78

9 MS Oil Under Ground & Storage Tank Kulwal Iron & Steel PVT. LTD.

As per Specifications and Size

a) 1.5*1.5*1.5 3 2.49
b) 2.5*2.5*1.35 1 1.24
c) 1.5*1.95*.09 1 0.70
d) 5000 * 1600mm Dia vertical 3 5.40
e) 4900*2500mm Dia Horizontal 1 2.65 12.48

Total(a+b) 56.67

Cost
Sr. No. Description with Specification
( Rs. In Lacs)

1 Oil Mil

a) Eligible Items
Oil Expellers 17.34
Elevator & Conveyor 1.44
L&T Valves with miscellaneous items 0.32
Cyclone Dust Collector & other miscellaneous
Items 8.67
Exhaust Blower (with accessories) 0.44
Spirax Valve 0.72
11 KV H.T. Metering Cubicle 1.33
HT Line with Transformers & Electrification 11.55
MS Oil Under Ground & Storage Tank 12.48
Subtotal (a) 54.30

b) Ineligible Items

Oil Expeller 0.05

Cyclone Dust Collector & other miscellaneous
Items 0.10
HT Line with Transformers ,Electrification &
Sheet 2.23

Subtotal (b) 2.38

Total(a+b) 56.67
A) TAKING REDUCTION OF 5% IN REVENUE
(Rs. In lacs)
PARTICULARS 1 2 3 4 5
Revenue 9474.14 10008.93 10307.92 10606.36 10906.35
Revenue after deduction of 5% 9284.65 9808.75 10101.76 10394.24 10688.22
Expenditure 9203.33 9674.26 9910.02 10150.26 10396.36
Excess of Surplus over Exp. 81.33 134.49 191.74 243.98 291.86

CALCULATION OF DEBT SERVICE RATIO

TAKING 5% REDUCTION IN REVENUE

PARTICULARS 1 2 3 4 5
Profit After Tax 81.33 134.49 191.74 243.98 291.86
Depreciation 275.59 236.87 203.70 175.27 150.90
Interest on Term Loan 76.23 64.56 51.54 38.52 25.50
TOTAL 433.14 435.92 446.98 457.77 468.26
Interest on Term Loan 76.23 64.56 51.54 38.52 25.50
Instalment of term loan 60.76 104.17 104.17 104.17 104.17
TOTAL 136.99 168.73 155.71 142.69 129.67
DSCR 3.16 2.58 2.87 3.21 3.61
Average D S C R 3.20

B) TAKING INCREASE OF 5% IN EXPENDITURE

PARTICULARS 1 2 3 4 5
Revenue 9474.14 10008.93 10307.92 10606.36 10906.35
Expenditure 9203.33 9674.26 9910.02 10150.26 10396.36
Expenses After 5% increase 9,401.27 9,882.94 ### ### ###
Excess of Surplus over Exp. 72.87 125.99 183.69 236.35 284.65

CALCULATION OF DEBT SERVICE RATIO

TAKING 5% INCREASE IN EXPENDITURE

PARTICULARS 1 2 3 4 5
Profit after Tax 72.87 125.99 183.69 236.35 284.65
Depreciation 275.59 236.87 203.70 175.27 150.90
Interest on Term Loan 76.23 64.56 51.54 38.52 25.50
TOTAL 424.68 427.43 438.93 450.15 461.05
Interest on Term Loan 76.23 64.56 51.54 38.52 25.50
Instalment of term loan 60.76 104.17 104.17 104.17 104.17
TOTAL 136.99 168.73 155.71 142.69 129.67
DSCR 3.10 2.53 2.82 3.15 3.56
Average D S C R 3.14
(Rs. In lacs)
6
11204.25
10980.16
10644.20
335.97

6
335.97
129.98
12.48
478.43
12.48
104.17
116.64
4.10

6
11204.25
10644.20
###
329.16

6
329.16
129.98
12.48
471.62
12.48
104.17
116.64
4.04
M/S SHRI SHIKHARJEE RICE OIL LLP

Annexure XXIII

IRR

Cost of Capital
Cost of Equity Err:509
Cost of Term Loan 12.50%
Cost of Unsecured Loan 12.00%

Capital Structure
Partners/Total Capital 26.75%
Term Loan/Total Capital 27.58%
Unsecured Loan / Total Capital 23.61% 0

Weighted Average Cost of Capital Err:509

Net Cash Flows

Particulars Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

Profit After Tax 87.45 134.50 185.14 231.38 273.80 312.92

Add:
Tax 12.02 18.65 25.79 32.31 38.30 43.81
Interest on Term Loan 76.23 64.56 51.54 38.52 25.50 12.48
Interest on Working Capital Loan 66.00 66.00 66.00 66.00 66.00 66.00
Depreciation 275.59 236.87 203.70 175.27 150.90 129.98

Less:
Capital Expenditure 2,012.22 - - - - - -
Net Cash Flows Before Tax (2,012.22) 517.28 520.59 532.17 543.49 554.49 565.19
Net Cash Flows After Tax (2,012.22) 505.26 501.94 506.38 511.17 516.20 521.38
Discounting Factor Err:509 Err:509 Err:509 Err:509 Err:509 Err:509 Err:509
Discounted Cash Flow Err:509 Err:509 Err:509 Err:509 Err:509 Err:509 Err:509

Net Present Value (Rs. In Lacs) Err:509

IRR after Tax Err:509
 M/S SHRI SHIKHARJEE RICE OIL LLP

PROFITABILITY TRENDS

450.00

400.00

350.00

300.00

250.00

Row 43
200.00

150.00

100.00

50.00

-
1 2 3 4 5 6 7
M/S SHRI SHIKHARJEE RICE OIL LLP

ANNEXURE-XIX

ASSUMPTIONS
EXTRACTION PLANT
Proposed Installed Capacity (Tonnes Per Day) 240
RICE BRAN
Proposed Capacity Utilization

Year 1 65%
Year 2 67%
Year 3 69%
Year 4 71%
Year 5 73%
Year 6 75%
Year 7 80%

Other Raw Material Requirement in Solvent Plant

Hexaine required per M.T. 2.5 LITRE

Husk required per day 18

REFINERY

Proposed Installed Capacity (Tonnes Per Day) 40

Proposed Capacity Utilization Oil Mill Plant

Year 1 78%
Year 2 80%
Year 3 83%
Year 4 85%
Year 5 88%
Year 6 90%
Year 7 96%
Other Raw Material Requirement in Refinery

Phosporic Acid per day ( In KG) 30.00

Bleaching Earth per day ( In KG) 1160.00
Husk required per day ( In MT) 12.00

CONSUMABLES REQUIREMENT
1. DIES / PLATES ( per month) 50000.00
2. BEARINGS ( per month) 30000.00
3. OTHERS ( per month) 20000.00
100000.00

Interest on Construction period and other preliminary expences is

assumed to be 75 lacs
Total No. of Working Days 303
Interest Rates:
Term Loan 12.50%
Working Capital Loan 12.00%
Unsecured Loan 12.00%
Inflation Rates:
Administration Expenses 5.00%
Salaries & Wages 5.00%
Repairs 5.00%
Selling Expenses 5.00%

Depreciation Rates WDV Method

Land 0.00%
Building 10.00%
Plant & Machinery 15.00%
Infrastructure Development 10.00%

Rates of Income Tax

Income Tax 30.90%