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Proposal Report on Working Capital

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					Proposal by




SSE
Address1
Address2
Phone.



      Proposal for Working Capital Loans
Submitted To




International Branch
Chennai – 600 001.

Prepared by




SMB Enablers,
13/25, Baba Foundation,
Krishnamoorthy Street,
West Mambalam,
Chennai – 600 033.
27th March, 2009.
Contact: Srikanth Gopalan,
Phone +91-44-42126588,
Mobile +91-9841204445
Email srikanth@smbenablers.com
                                 Note
•   Figure estimates are pretty simple and straight forward.
      o   Seasonality is ignored
      o   Sale revenue is consider to be equal from Month 1
      o   Market feasibility numbers are hypothetical.
      o   Real life situation is much more complex than this and require
          much more effort to produce a more realistic documents
•   User of this format is advised to add certain additional reports
    and data before finalization
      o Past data analysis and graphs based on historical numbers, in
        case of existing companies
      o You might want to add an analysis on Raw Materials and
        production and process flow chart in the report, for existing
        manufacturing companies. We include them.
      o Normally the appraiser from bank is required to conduct
        sensitivity analysis as part of the due diligence process. We
        normally construct a What-If-Analysis-Table. You might want to
        consider doing it.
• Disclaimer: This format is intended as information to clients and
  bankers so that they know what to expect of us. This may also
  provide a starting point for fellow professional. There are no
  express or implied guarantees relating to the effectiveness of this
  format.
• This material is copyrighted to SMB Enablers. You are free to
  distribute this format without changing the contents. This is not
  for sale.
                                                               Table of Contents



1.0 Executive Summary ..................................................................................................................... 1
    Chart: Highlights ........................................................................................................................... 2
  1.1 Objectives .................................................................................................................................... 2
  1.2 Mission .......................................................................................................................................... 2
  1.3 Keys to Success ........................................................................................................................ 2
2.0 Company Summary ..................................................................................................................... 2
  2.1 Company Ownership ............................................................................................................... 3
  2.2 Start-up Summary ................................................................................................................... 3
    Table: Start-up .............................................................................................................................. 3
    Chart: Start-up .............................................................................................................................. 4
  2.3 Company Locations and Facilities ...................................................................................... 4
3.0 Products............................................................................................................................................ 4
  3.1 Product Description .................................................................................................................. 5
  3.2 Competitive Comparison........................................................................................................ 5
  3.3 Sales Literature ......................................................................................................................... 6
  3.4 Sourcing ....................................................................................................................................... 6
  3.5 Technology .................................................................................................................................. 6
  3.6 Future Products ......................................................................................................................... 6
4.0 Market Analysis Summary ........................................................................................................ 6
  4.1 Market Segmentation .............................................................................................................. 7
    Table: Market Analysis ............................................................................................................... 7
    Chart: Market Analysis (Pie) .................................................................................................... 8
  4.2 Target Market Segment Strategy....................................................................................... 8
    4.2.1 Market Needs ..................................................................................................................... 8
    4.2.2 Market Trends .................................................................................................................... 8
    4.2.3 Market Growth ................................................................................................................... 8
  4.3 Industry Analysis ...................................................................................................................... 8
    4.3.1 Industry Participants ....................................................................................................... 9
    4.3.2 Distribution Patterns ....................................................................................................... 9
    4.3.3 Competition and Buying Patterns............................................................................... 9
    4.3.4 Main Competitors .............................................................................................................. 9
5.0 Strategy and Implementation Summary........................................................................... 10
  5.1 SWOT Analysis ......................................................................................................................... 10
    5.1.1 Strengths ........................................................................................................................... 10
    5.1.2 Weaknesses ...................................................................................................................... 10
    5.1.3 Opportunities .................................................................................................................... 10
    5.1.4 Threats ................................................................................................................................ 11
  5.2 Strategy Pyramid .................................................................................................................... 11
  5.3 Value Proposition .................................................................................................................... 11
  5.4 Competitive Edge ................................................................................................................... 11
  5.5 Marketing Strategy ................................................................................................................ 12
    5.5.1 Positioning Statement................................................................................................... 12
    5.5.2 Pricing Strategy ............................................................................................................... 12
    5.5.3 Promotion Strategy ........................................................................................................ 12

                                                                                                                                                Page 1
                                                              Table of Contents



    5.5.4 Distribution Strategy ..................................................................................................... 12
    5.5.5 Marketing Programs ...................................................................................................... 12
  5.6 Sales Strategy.......................................................................................................................... 12
    5.6.1 Sales Forecast .................................................................................................................. 13
      Table: Sales Forecast ............................................................................................................ 13
      Chart: Sales Monthly............................................................................................................. 14
      Chart: Sales by Year ............................................................................................................. 14
    5.6.2 Sales Programs ................................................................................................................ 15
  5.7 Strategic Alliances .................................................................................................................. 15
  5.8 Milestones .................................................................................................................................. 15
    Table: Milestones ........................................................................................................................ 15
    Chart: Milestones........................................................................................................................ 16
6.0 Management Summary ............................................................................................................ 16
  6.1 Organizational Structure ...................................................................................................... 16
    Org. Chart: Organizational Chart ......................................................................................... 16
  6.2 Management Team ................................................................................................................ 16
  6.3 Management Team Gaps ..................................................................................................... 16
  6.4 Personnel Plan ......................................................................................................................... 17
    Table: Personnel ......................................................................................................................... 17
7.0 Financial Plan ............................................................................................................................... 17
  7.1 Start-up Funding ..................................................................................................................... 17
    Table: Start-up Funding........................................................................................................... 17
  7.2 Important Assumptions ........................................................................................................ 18
  7.3 Key Financial Indicators ....................................................................................................... 18
    Chart: Benchmarks .................................................................................................................... 19
  7.4 Break-even Analysis .............................................................................................................. 19
    Table: Break-even Analysis .................................................................................................... 19
    Chart: Break-even Analysis .................................................................................................... 20
  7.5 Projected Profit and Loss ..................................................................................................... 20
    Table: Profit and Loss ............................................................................................................... 20
    Chart: Profit Monthly ................................................................................................................. 21
    Chart: Profit Yearly .................................................................................................................... 22
    Chart: Gross Margin Monthly ................................................................................................. 22
    Chart: Gross Margin Yearly .................................................................................................... 23
  7.6 Projected Cash Flow .............................................................................................................. 23
    Table: Cash Flow ........................................................................................................................ 23
    Chart: Cash ................................................................................................................................... 24
  7.7 Projected Balance Sheet ...................................................................................................... 24
    Table: Balance Sheet ................................................................................................................ 24
  7.8 Business Ratios........................................................................................................................ 25
    Table: Ratios ................................................................................................................................ 25
Table: Sales Forecast .......................................................................................................................... 1
Table: Personnel ................................................................................................................................... 1
Table: Profit and Loss ......................................................................................................................... 1

                                                                                                                                            Page 2
                                                             Table of Contents



Table: Cash Flow .................................................................................................................................. 1
Table: Balance Sheet .......................................................................................................................... 1




                                                                                                                                           Page 3
                                               SSE




1.0 Executive Summary



  SSE was founded in the year 2008, by Mr.ABC, a reputed industrialist, hailing from a reputed
  family. He is also the chairman cum Managing Director of XYZ, an animation software company
  which is going to make heavy inroads in the field of school education. He, in the past has done
  business in south east Asian countries and he knows the topography of the Singaporean market
  very well. The company has already received trial orders and the product has been accepted
  very well.

  He has successfully floated another venture in the name and style, AAA Chemicalsl. Its viability
  was assessed by Bank of Baroda, International Branch, Chennai – 600 001 and a finance of
  Rs.1500 lacs have been obtained.

  The purpose of this document is to obtain a working capital loan of Rs.1200 lacs in the form of
  Export Packing Credit (Rs.600 lacs) and Bill discounting against foreign letter of credit (Rs.600
  lacs).

  Securities for the proposed loan shall be as follows. Apart from the prime security of
  hypothecation of book debts and stock, a collateral security will be given in the form
  of industrial land admeasuring 1.67 cents and buildings situated on the said land
  admeasuring 19526 sq ft in Ponneri. It is pertinent to note that, apart from the above,
  M/s AAA Chemicals have already given collateral securities worth Rs.25 crores (duly
  valued by Bank of Baroda) for a loan of Rs.15 crores.

  SSE plans to export condiments, masalas and spices to Singapore, initially. Their products
  would be of high quality and would be a good value for money. Initially the target is for
  addressing the needs of Indian community in Singapore and the business will be expanded to
  adjoining countries. In less than a year we are sure, we will grow in popularity and accounts.

  The company’s objectives and growth plans are given in the following pages.




                                                                                              Page 1
                                                 SSE



   Chart: Highlights




1.1 Objectives

   1.   Increase sales significantly over the next three years.
   2.   Improve gross margin % over the entire product line and maintain that level.
   3.   Add products to meet market demand, again at high gross margin.
   4.   Improve inventory turnover, reduce the cost of goods sold while maintaining the high quality
   of   the products.


1.2 Mission

   SSE is being built on offering the highest quality and value in its authentic Indian Spices and
   Masalas, filled with the history of the Indian Culinary Art. Time honored family recipes have
   been passed down through the generations, rich with ethnic heritage. Knowledgeable
   consumers abroad are looking for authentic products, filled with the best ingredients. The
   foreign Indian community is crying out for a change! They wanted real down home masalas and
   spices.

1.3 Keys to Success

   1.   Delivering high quality products that set themselves apart from the others in taste and value.
   2.   Providing service, support, and a better than average margin to our dealers.
   3.   Increase gross margin %.
   4.   Bring new products into the mix to increase sales volume.


2.0 Company Summary

   SSE. is a new start up company business located in Anna Nagar, Chennai, and will be
   established based on the details of the following plan.
                                                                                               Page 2
                                                SSE



2.1 Company Ownership

   SSE is a proprietary concern held by Shri.ABC, an industrialist of repute in Chennai.

2.2 Start-up Summary

   The key elements in the start-up plan for the company are:
   Formulation of the strategic business plan.
   The establishment of a corporate identity.
   The establishment of a location and place of doing business.
   Funding of working capital requirements, purchases of other equipment and assets deemed
   necessary for the principle operating activities of the company, and additional capital raising
   alternatives.
   Initiation of Research and Development of existing and future products.


Table: Start-up


   Start-up


   Requirements


   Start-up Expenses
   Legal                                                             0.03
   Stationery etc.                                                   0.02
   Insurance                                                         0.05
   Rent                                                              0.00
   Computer                                                          0.30
   Other                                                             0.20
   Total Start-up Expenses                                           0.60

   Start-up Assets
   Cash Required                                                     2.40
   Start-up Inventory                                                1.00
   Other Current Assets                                              6.00
   Long-term Assets                                                  0.00
   Total Assets                                                      9.40

   Total Requirements                                               10.00




                                                                                               Page 3
                                                SSE



   Chart: Start-up




2.3 Company Locations and Facilities

   Currently the company has one location in the form of an office at Anna Nagar. The company is
   in the process of hiring a full fledged ware house cum office. It will be thoroughly sanitised to
   food grade storage standards.

3.0 Products

   The company is planning to sell the entire range of condiments and spices in Singapore for the
   Indian community. A non exhaustive list of products is as follows.


   Chilli Powder
   Turmeric Powder
   Coriander Seeds
   Basmati Rice
   Coffee Powder
   Tea Powder
   Rice Flour
   Idly Rawa Powder
   Green Gram Powder
   Pure Ghee
   Sambar Powder
   Briyani Masala
   Chicken Masala
   Fish Curry Masala
   Fish Fry Masala
   Chicken Fry Masala
   Chicken 555 Masala
   Rasa powder Masala
                                                                                              Page 4
                                                SSE



   Porridge (Rice)
   Snack Powder Masala

   The Company is planning to sell quality and product-uniqueness in a market segment filled with
   competition. The Company's approach is to take its product image up-market because of its
   rich heritage and uncompromising view of product quality. This focus has enabled the company
   to view the voids in the market, and add product to its line that will fill it. The company has
   researched and reviewed other Indian food item organizations, tracking their successes and
   positioning ourselves similarly.
   SSE is planning to build a reputation for high quality and strong value in a product filled with
   authentic Indian flavor. The company is planning to service its dealers just as if they were a
   part of the family - and that is the unique approach to marketing its products. You are not just
   a dealer; not just a consumer; you are special to us - you are family. The company would like
   to go to great lengths to provide our dealers with high quality products, and the ability to make
   a good margin on them.


3.1 Product Description

   The company currently plans to offer the following product lines:


   Chilli Powder
   Turmeric Powder
   Coriander Seeds
   Basmati Rice
   Coffee Powder
   Tea Powder
   Rice Flour
   Idly Rawa Powder
   Green Gram Powder
   Pure Ghee
   Sambar Powder
   Briyani Masala
   Chicken Masala
   Fish Curry Masala
   Fish Fry Masala
   Chicken Fry Masala
   Chicken 555 Masala
   Rasa powder Masala
   Porridge (Rice)
   Snack Powder Masala


   All these products will be packed in accordance with quality standards set out in FPO, BIS and
   other relevant standards.


3.2 Competitive Comparison

   To differentiate the company from all of the others, it stresses quality and authenticity of the
   ingredients, and the heritage of the family recipe.

                                                                                               Page 5
                                                SSE




   The company sells more than a packet with masala in it. It sells high quality ingredients,
   carefully put together in a masterful blend that can't be matched in taste or true Indian ethnic
   authenticity.


   These are simple products that must be presented in a way that encourages the consumer to
   just give the company a chance. Once they try the product, the company will have a long-term
   relationship with them.


   As in similar food items, the company can charge a premium for what we supply. The market
   has shown it will buy our product over more readily known names because of the richness and
   authentic taste of its condiments and spices.


3.3 Sales Literature

   The company is currently working on a new line of brochures and sales materials to assist its
   marketing, and that of its dealers.

3.4 Sourcing

   The company is currently working on a new line of brochures and sales materials to assist its
   marketing, and that of its dealers.

3.5 Technology

   Technology per se does not have direct impact on the company since every product to be
   exported will be bought out based on our specifications. The process of manufacture is not
   technology driven but is dependent on ingredients selection and recipes.

3.6 Future Products

   The company is currently researching the addition of an exclusive range of ready to eat
   authentic Indian sweets and savories. Present product range is targeted at the entire Indian
   community. However, new products require clear understanding of demographic spread and
   substrata among Indians in Singapore.

4.0 Market Analysis Summary

   The market for the company's products currently consists of persons of Indian origin from
   among the population of Singapore, whether they are citizens, permanent residents or
   temporary work permit holders. al aids. Essentially, the potential market is the nearly identical
   to the Indian population in Singapore. The markets are not exactly identical, though, as we
   expect there to be greater acceptance of company's products from among South Indians than
   that of persons from rest of India.


   A massive potential market base exists for the laser refractive surgery industry. It is estimated
   that approximately 59%of the Singapore resident population (~4 laks) are from India. Added to
   this is the enormous work force from Tamil Nadu, India. This figure is estimated to be at 1.35
                                                                                              Page 6
                                                  SSE



   lacs. Extrapolating this market size can be estimated to be Rs.1800 crores of Indian
   Condiments Masala and spices. This figure is likely to grow at the rate of 15% per annum.


   The company has contacted quite a few leading Departmental Stores and has made a trial
   supply of 1 ton of rice flour in the brand name of "Durian". The response is quite heartening.


4.1 Market Segmentation

   The food industry is in a boom period. One tends to call it a boom if it is hot hit by recession.
   While there are many items from various vendors available, the company has approached the
   market as a Specialty Vendor: a provider of authentic high quality Indian condiments, spices
   and Masala.


   The Company has made significant inroads with several grocery shops and departmental stores.
   It has already appointed two distributors. The company, in the foreseeable future, is looking at
   developing our own store front as an adjunct to its current marketing. There is a need for a
   specialty retailer catering specifically to the Indian client and to the individuals that appreciate
   authentic Indian cuisine. This gives better focus than a general Indian store.


   In addition to the above, the company is also looking at packaging its products for other groups
   to use for fundraising events, gift baskets for corporate promotions, and the possibility of a
   house restaurant to further advertise and promote the products.


Table: Market Analysis


   Market Analysis
                                           2009         2010     2011       2012        2013
   Potential Customers         Growth                                                             CAGR
   Grocery Stores                10%         25          28        31         34         37      10.30%
   Distributors                  10%          5           6         7          8          9      15.83%
   Departmental Stores           10%         25          28        31         34         37      10.30%
   Total                      10.84%         55          62        69         76         83      10.84%




                                                                                                Page 7
                                                SSE



   Chart: Market Analysis (Pie)




4.2 Target Market Segment Strategy

   The Company is initially focusing on the Indian community. They will be able to appreciate
   more readily the authenticity of the product. The market will observe the products they choose,
   and they will indirectly become promoters of the company's products.

4.2.1 Market Needs

   The market needs of the target segment are straightforward - customers want good quality
   condiments masalas and spices that result in authentic Indian cuisine. Hygiene is another
   important criterion.

4.2.2 Market Trends

   One important trend is the one toward nucleus family set up in which. Paucity of time results in
   procurement of high quality products like the ones to be offered by SSE.

4.2.3 Market Growth

   The market analysis shows us a broad range of prospective clients, covering more than one
   demographic group or body. The largest of these groups of customers is that of the Tamilians,
   which is projected to grow at 12% per year. Overall Indian population growth is likely to be
   10%.

4.3 Industry Analysis

   The Indian food industry is relatively old, and its popularity is ever on the increase. The
   authentic taste is not common in this industry, which gives the company a leg up on the
   competition.

                                                                                                 Page 8
                                               SSE




   In an industry currently in a steady upward growth curve, the company is poised to capitalize
   on the consumer's desire for authentic, high quality, Indian cuisine.


   While a troubling economy can affect many areas, food items are generally not as affected, with
   specialty items seeming to always find favor in the market place.


4.3.1 Industry Participants

   While there are currently several vendors in this market selling competitive products, the
   commonality of those products provides an opening in the marketplace for the vibrant
   packaging and positioning of SSE' products. The company would stand out on the shelf, stand
   out in the restaurant, and will stand out in the mind of the consumer.

4.3.2 Distribution Patterns

   While current brand names carry more weight in the marketplace, because of the company's
   unique marketing approach using local restaurants, and displaying and demonstrating the
   company's wares in local grocery stores, SSE is able to build consumer awareness at a margin
   of the cost of television and radio advertising.


   In going to food fairs, neighborhood festivals and the like, SSE builds consumer awareness and
   generate demand at the same time. While at these events the company is also able to directly
   research the market and hear first-hand what the consumer is seeking.


4.3.3 Competition and Buying Patterns

   There are many suppliers of similar products currently available on the shelves at local grocer
   in Singapore. However, there is still a lot of room for new products and new companies.


   By positioning at the higher end of the market, the company exposes itself to consumers trying
   to get out of the rut, who continue to use a product that they have long forgotten why they
   buy. By not trying to compete head on, the company would be selling its product consistently
   and increasingly. With entrance into some of the larger grocery chains the company will
   broaden its audience considerably.


4.3.4 Main Competitors

   Although the company is staking out the high end of this market, it cannot fail to be compared
   with some of the current leaders in this arena. Aachi, Everest and MTR are just a few of the
   participants in this segment. Most have been on the shelf for so long they are taken for granted
   by the consumer. SSE' fresh approach to authentic taste and texture makes the difference.




                                                                                              Page 9
                                                SSE



5.0 Strategy and Implementation Summary

   Our strategy is based on serving niche markets well. The world is full of consumers who can't
   get what they perceive to be high quality or authentic. We are capitalizing on the family
   heritage in our product line.


   We are building a marketing infrastructure that will provide what appears to be a seamless
   approach to our products, covering multiple avenues of utilizing grocery stores and major
   distributors. Each location will accent the other, providing for continuous exposure of Salvador's
   name.


5.1 SWOT Analysis

   The following SWOT analysis captures the key strengths and weaknesses within the company,
   and describes the opportunities and threats facing Interior Views.

5.1.1 Strengths

   •   Strong relationships with suppliers that offer credit arrangements, flexibility, and response
       to special product requirements.
   Excellent and stable Distributors, offering personalized customer service.
   Great retail space that offers flexibility with a positive and attractive, inviting atmosphere.
   Strong merchandising and product presentation.
   Good referral relationships with complementary vendors.
   In-store complementary products through "The Window Seat" will add interest, stability and
   revenue.
   High customer loyalty among repeat and high-dollar purchase customers.

5.1.2 Weaknesses

   • Access to additional operating capital.
   Owners are still climbing the "retail experience curve."
   Location is not in a heavily traveled, traditional retail area.
   Challenges of the seasonality of the inputs to finished products.

5.1.3 Opportunities

   •   Growing market with a significant percentage of our target market still not knowing we
       exist.
   • Strategic alliances offering sources for referrals and joint marketing activities to extend our
       reach.
   • Promising activity from high levels of new home construction.
   • Changes in design trends can initiate home updating, and therefore, generate sales.
   • Increasing sales opportunities beyond our target area including several neighbouring
       countries such as Malaysia.
   Internet potential for selling products to other markets.




                                                                                              Page 10
                                                SSE



5.1.4 Threats

   •  The downturn in the economy has impacted store sales--stock market predictors correlate
      with store sales. It has not been good since Nov 2009.
   • Expansion of national discount stores into the local market.
   • Competition from a national store; or a store with greater financing or product resources
      could enter the market.
   • Catalog resources, including Calico Corners and Pottery Barn, with aggressively priced
      trend-setting fabric products including drapery, bedding, and slipcovers.
   Continued price pressure due to competition or the weakening market reducing contribution
   margins.

5.2 Strategy Pyramid

   Our main strategy at SSE is to position ourselves at the top of the quality scale, featuring our
   combination of superb quality and fine old-fashioned mother's recipe, for the buyer who wants
   the best quality regardless of price. Tactics underneath that strategy include research and
   development related to qualitative ingredients, choosing the right channels of distribution, and
   communicating our quality position to the market. Programs are mainly those listed in the
   milestones table, including new design programs for packaging, new equipment to keep up with
   design, channel development, channel marketing programs, our direct sales, and our continued
   presence in high-end catalog channels and presence in the Departmental Stores.

5.3 Value Proposition

   The true value proposition for SSE with the customer is taste. The customer stands to gain
   permanently in terms of assured quality with respect to ingredients and authentic and ethnic
   taste exquisitely package.

5.4 Competitive Edge

   To differentiate the company from all of the others, it stresses quality and authenticity of the
   ingredients, and the heritage of the family recipe.


   The company sells more than a packet with masala in it. It sells high quality ingredients,
   carefully put together in a masterful blend that can't be matched in taste or true Indian ethnic
   authenticity.


   These are simple products that must be presented in a way that encourages the consumer to
   just give the company a chance. Once they try the product, the company will have a long-term
   relationship with them.


   As in similar food items, the company can charge a premium for what we supply. The market
   has shown it will buy our product over more readily known names because of the richness and
   authentic taste of its condiments and spices.




                                                                                              Page 11
                                                   SSE



5.5 Marketing Strategy

   The company is focusing on the consumer first through grocery exposure, and then impacting
   them through restaurants and other food places.

5.5.1 Positioning Statement

   For Singapore based Indians who require Indian ethnic condiments, spices and masalas, SSE
   will distribute high quality products at reasonable prices and unlike the competition, the
   products would be highly authentic.

5.5.2 Pricing Strategy

   The company is able to price our products competitively. Even though the company is subject
   to some impulse buying, it can provide a product to be resold at a generous mark-up for its
   dealers, while still providing a satisfactory experience for the consumer.

5.5.3 Promotion Strategy

   The long-range goal is to gain enough visibility to leverage the product into other distribution
   sites within the region, then to move on to other geographical regions as inquiries and
   distribution requests come in.


   Although the company's current contacts in the grocery chains are for local Singapore
   consumption, expansion to Malaysia is quite likely in the foreseeable future.


5.5.4 Distribution Strategy

   To this means the company has been working on packaging for better corporate identity,
   providing a more attractive package, a very important ingredient in the food industry. Bar-
   coding and nutritional information to the label is planned.

   Aside of this distribution will be on traditional lines.

5.5.5 Marketing Programs

   Our main marketing program will revolve around the placement of our full line, full color
   catalogue and price list in retail industry magazines having largest circulation in Singapore. This
   magazine is mailed to the over distributors retailers and departmental stores as well as our own
   sales reps.

   Secondly, shelf space will be hired for display of products

5.6 Sales Strategy

   The keys to our continuing success are in the areas the company is planning to add to its
   current distribution channels. This will remain the main focus for the next five years. Sales calls
   on the Grocers and Departmental Stores (at least twice a year) in addition to distribution
   channels is likely to result in the company's products Salsa being stocked and sold by them.

                                                                                              Page 12
                                              SSE



5.6.1 Sales Forecast

   The Company currently forecast our sales to grow at an astounding rate for the next 12 months
   because of oral commitments it has received from distributors intending to take on its product
   line in larger volumes in the future.


   This growth will continue, but at a lower rate for the next year, and the following year. We
   anticipate the growth rate to flatten out within five years, but to remain steady. Should the
   market on Indian food items continue at its current pace, SSE will keep pace with it. The
   forecast does not assume a downturn in the product within a five-year period, and the figures
   are a reflection of that forecast.


Table: Sales Forecast


   Sales Forecast
                                                          FY 2010          FY 2011          FY 2012
   Sales
   Chilli Powder                                           195.00           210.60            227.45
   Turmeric Powder                                         195.00           210.60            227.45
   Coriander Seeds                                         121.92           131.67            142.20
   Basmati Rice                                            365.64           394.89            426.48
   Coffee Powder                                           195.00           210.60            227.45
   Tea Powder                                               48.72            52.62             56.83
   Rice Flour                                               97.56           105.36            113.79
   Idly Rawa Powder                                         97.56           105.36            113.79
   Green Gram Powder                                       195.00           210.60            227.45
   Pure Ghee                                               195.00           210.60            227.45
   Sambar Powder                                           243.72           263.22            284.28
   Briyani Masala                                          195.00           210.60            227.45
   Chicken Masala                                          195.00           210.60            227.45
   Fish Curry Masala                                       195.00           210.60            227.45
   Fish Fry Masala                                         195.00           210.60            227.45
   Chicken Fry Masala                                      195.00           210.60            227.45
   Chicken 555 Masala                                      195.00           210.60            227.45
   Rasa powder Masala                                      243.72           263.22            284.28
   Porridge (Rice)                                         292.56           315.96            341.24
   Snack Powder Masala                                     292.56           315.96            341.24
   Total Sales                                            3948.96          4264.86           4606.08

   Direct Cost of Sales                                   FY 2010          FY 2011          FY 2012
   Chilli Powder                                           140.76           152.02           164.18
   Turmeric Powder                                         105.60           114.05           123.17
   Coriander Seeds                                         140.76           152.02           164.18
   Basmati Rice                                            161.76           174.70           188.68
   Coffee Powder                                           211.20           228.10           246.35
   Tea Powder                                              140.76           152.02           164.18
   Rice Flour                                               35.16            37.97            41.01
   Idly Rawa Powder                                         35.16            37.97            41.01
   Green Gram Powder                                        42.48            45.88            49.55
   Pure Ghee                                               140.28           151.50           163.62
   Sambar Powder                                           186.96           201.92           218.07
   Briyani Masala                                          149.64           161.61           174.54
   Chicken Masala                                          149.64           161.61           174.54
   Fish Curry Masala                                       149.64           161.61           174.54
   Fish Fry Masala                                         149.64           161.61           174.54
   Chicken Fry Masala                                      149.64           161.61           174.54
   Chicken 555 Masala                                      149.64           161.61           174.54
   Rasa powder Masala                                      186.96           201.92           218.07
   Porridge (Rice)                                         211.20           228.10           246.35
   Snack Powder Masala                                     211.20           228.10           246.35
   Subtotal Direct Cost of Sales                          2848.08          3075.93          3322.01



                                                                                          Page 13
                                                                         SSE




Chart: Sales Monthly
             May




                                                       Dec
                         Jul
                   Jun



                               Aug

                                     Sep

                                           Oct




                                                             Jan

                                                                   Feb
       Apr




                                                                         Mar
                                                 Nov




Chart: Sales by Year




                                                                               Page 14
                                               SSE



5.6.2 Sales Programs

   Distributor sales: Thorough and persistent effort to generate sales through Distributor net work
   is being done.


   To this means, the company is currently interviewing distributors to assist it with the marketing
   and distribution of its Products. Again, the hiring of a distributor, and a modest performance
   increase on their efforts for company would make the sales projections conservative. Key to the
   sale and distribution of the products through this channel is the constant care and feeding of
   the buyers for each of the organizations. Sales calls on a regular basis, along with samples of
   new product, will keep the doors open to the company.


5.7 Strategic Alliances

   Strategic Alliances are going to be the main stay of the company. Vendors who supply quality
   ingredients and manufacturers who process the ingredients are virtually business partners of
   the company. Company is also planning to enter into some strategic alliances with some of the
   hotels in Singapore.

5.8 Milestones

   The following table and chart are the important milestones for SSE.

Table: Milestones


   Milestones


   Milestone                                                       Start Date                 End Date
   Raising of Finance                                             02-03-2009                01-04-2009
   Procurement and Testing                                        02-03-2009                11-04-2009
   First major consignment Export                                 02-03-2009                21-04-2009
   Totals




                                                                                            Page 15
                                                 SSE



   Chart: Milestones




6.0 Management Summary

   SSE was founded in the year 2008, by Mr.ABC, a reputed industrialist, hailing from a reputed
   family. He is also the chairman cum Managing Director of XYZ, an animation software company
   which is going to make heavy inroads in the field of school education. He, in the past has done
   business in south east Asian countries and he knows the topography of the Singaporean market
   very well. The company has already received trial orders and the product has been accepted
   very well.

6.1 Organizational Structure

   SSE' planned organization calls for sales and marketing, product development, finance and
   administration.




   Org. Chart: Organizational Chart




6.2 Management Team

   The Company is presently in the process of putting up an able and efficient management team.

6.3 Management Team Gaps

   The gaps in the management team are currently being addressed through the use of outside
   consultants and will continue to be until the cash flow allows for the hiring of employees to fill


                                                                                               Page 16
                                               SSE



   those capacities. The identifiable gaps are in administration, finance management, and
   marketing.

6.4 Personnel Plan

   The Personnel Plan chronicles the growth of the organization to approximately 29 employees in
   the first 3 years. Each year may require a few additional people besides those indicated, based
   on the growth of the company in accordance with the Business Plan.

Table: Personnel


   Personnel Plan
                                                              FY 2010         FY 2011         FY 2012
   General Manager                                               7.20            7.78            8.40
   Manager                                                       6.00            6.48            7.00
   Supervisors                                                   5.40            5.83            6.30
   Admin and Excise, Customs                                     3.84            4.15            4.48
   Accounts                                                      3.84            4.15            4.48
   Stores                                                        3.84            4.15            4.48
   Security                                                      4.80            5.18            5.59
   Quality Control                                               7.20            7.78            8.40
   Wages                                                        23.28           25.14           27.15
   Total People                                                    29              29              29

   Total Payroll                                                65.40           70.64           76.28



7.0 Financial Plan

   The promoters intend to bring in Rs.300 lacs as capital. Proposed loan is Rs.1200 lacs. Shortfall
   in margins if any will be taken care of by internal accruals.

7.1 Start-up Funding

   Star-up expenses will be fully met by the promoter through his personal resources.

Table: Start-up Funding


   Start-up Funding
   Start-up Expenses to Fund                                        0.60
   Start-up Assets to Fund                                          9.40
   Total Funding Required                                          10.00

   Assets
   Non-cash Assets from Start-up                                    7.00
   Cash Requirements from Start-up                                  2.40
   Additional Cash Raised                                           0.00
   Cash Balance on Starting Date                                    2.40
   Total Assets                                                     9.40



   Liabilities and Capital


   Liabilities
   Current Borrowing                                                0.00
   Long-term Liabilities                                            0.00

                                                                                            Page 17
                                               SSE



   Accounts Payable (Outstanding Bills)                            0.00
   Other Current Liabilities (interest-free)                       0.00
   Total Liabilities                                               0.00

   Capital


   Planned Investment
   Owner                                                          10.00
   Investor                                                        0.00
   Additional Investment Requirement                               0.00
   Total Planned Investment                                       10.00

   Loss at Start-up (Start-up Expenses)                           -0.60
   Total Capital                                                   9.40



   Total Capital and Liabilities                                   9.40

   Total Funding                                                  10.00



7.2 Important Assumptions

   The financial plan depends on important assumptions, most of which are shown in the following
   table. The key underlying assumptions are:
   • We assume a slow-growth economy, without major recession.
   • We assume, of course, that there are no unforeseen changes in the consumer market to
   make products immediately obsolete or out of favor (or not increasing in popularity).
   • We assume access to equity capital and financing sufficient to maintain our financial plan as
   shown in the tables, addendum, and additional documentation.

7.3 Key Financial Indicators

   The following chart shows changes in key financial indicators: sales, gross margin, operating
   expenses, collection days, and inventory turnover. The growth in sales is the most obvious
   change, and operating expenses with sales. We believe the growing market for our products,
   the larger potential market, justifies the growth projections of 10% per annum.

   We expect to maintain gross margin at the level indicated, or close to that, without major
   changes.

   The projections for collection days and inventory turnover show that we are expecting it to be
   steady over a period of time.




                                                                                           Page 18
                                              SSE



   Chart: Benchmarks




7.4 Break-even Analysis

   Our break-even analysis is based on our cost and price structure at present. As we grow, the
   fixed costs will grow in proportion to our employee numbers and general economic trends. The
   projections include an increase in these costs.

Table: Break-even Analysis


   Break-even Analysis


   Monthly Revenue Break-even                          94.84

   Assumptions:
   Average Percent Variable Cost                        72%
   Estimated Monthly Fixed Cost                        26.44




                                                                                         Page 19
                                               SSE



   Chart: Break-even Analysis




7.5 Projected Profit and Loss

   The following table shows that we expect to maintain decent gross margin and net profit margin
   during the next three years. The single most important factor in the improving profit margin is
   the fact that we plan aggressive penetration in the first year. Only nominal growth is assumed
   in the ensuing years.

   While we have increased cost in the projection for the expenses while keeping sale realisation
   per unit and cost per unit static. We don't expect to decrease sales and marketing expenses.
   The packaged commodities business requires heavy marketing expenses.

   The following table shows just the annual numbers. The detailed monthly projections for 2009-
   10 are included in the appendix. Finance data as per CMA format is also attached to this report.

Table: Profit and Loss


   Pro Forma Profit and Loss
                                                     FY 2010           FY 2011           FY 2012
   Sales                                              3948.96          4264.86           4606.08
   Direct Cost of Sales                               2848.08          3075.93           3322.01
   Other Costs of Sales                                354.96           397.16            433.57
   Total Cost of Sales                                3203.04          3473.09           3755.58

   Gross Margin                                        745.92            791.77           850.50
   Gross Margin %                                     18.89%            18.56%           18.46%



   Expenses
   Payroll                                              65.40            70.64             76.28
   Marketing/Promotion                                 216.00           226.80            238.15
   Depreciation                                          7.08             5.11              3.76

                                                                                            Page 20
                                   SSE



Rent                                      13.20     14.70    17.20
Admin Expenses                            15.60     16.38    17.20

Total Operating Expenses                 317.28    333.63   352.59

Profit Before Interest and Taxes         762.48    485.02   512.89
EBITDA                                   769.56    490.13   516.65
 Interest Expense                        112.50    112.50   112.50
 Taxes Incurred                          227.49    130.38   140.14

Other Income
Scrap                                      4.80      4.94     5.09
Variation in Stock                       329.04     21.94     9.89
Total Other Income                       333.84     26.88    14.98

Other Expense
Other Expense Account Name                 0.00      0.00     0.00
Other Expense Account Name                 0.00      0.00     0.00
Total Other Expense                        0.00      0.00     0.00

Net Other Income                          333.84    26.88    14.98
Net Profit                                422.49   242.14   260.25
Net Profit/Sales                         10.70%    5.68%    5.65%




Chart: Profit Monthly




                                                             Page 21
                              SSE



Chart: Profit Yearly




Chart: Gross Margin Monthly




                                    Page 22
                                                 SSE



   Chart: Gross Margin Yearly




7.6 Projected Cash Flow

   For the purpose of this projection, Capital and loans have been assumed to be taken from 1st
   April 2009. In reality, this will be drawn on need base only. This gives added cushion to the
   projections. Projections for this write up is for indicative purpose only, Actual projection in CMA
   format is attached.

Table: Cash Flow


   Pro Forma Cash Flow
                                                              FY 2010          FY 2011           FY 2012
   Cash Received


   Cash from Operations
   Cash Sales                                                    0.00              0.00             0.00
   Cash from Receivables                                      2972.69           4186.76          4521.72
   Subtotal Cash from Operations                              2972.69           4186.76          4521.72

   Additional Cash Received
   Non Operating (Other) Income                                333.84             26.88            14.98
   Sales Tax, VAT, HST/GST Received                              0.00              0.00             0.00
   New Current Borrowing                                       600.00              0.00             0.00
   New Other Liabilities (interest-free)                       600.00              0.00             0.00
   New Long-term Liabilities                                     0.00              0.00             0.00
   Sales of Other Current Assets                                 0.00              0.00             0.00
   Sales of Long-term Assets                                     0.00              0.00             0.00
   New Investment Received                                     290.00              0.00             0.00
   Subtotal Cash Received                                     4796.53           4213.64          4536.70

   Expenditures                                               FY 2010          FY 2011           FY 2012

   Expenditures from Operations
   Cash Spending                                              4089.57           4063.48          4377.55

                                                                                               Page 23
                                               SSE



   Bill Payments                                               0.00            0.00              0.00
   Subtotal Spent on Operations                             4089.57         4063.48           4377.55

   Additional Cash Spent
   Non Operating (Other) Expense                               0.00            0.00              0.00
   Sales Tax, VAT, HST/GST Paid Out                            0.00            0.00              0.00
   Principal Repayment of Current Borrowing                    0.00            0.00              0.00
   Other Liabilities Principal Repayment                       0.00            0.00              0.00
   Long-term Liabilities Principal Repayment                   0.00            0.00              0.00
   Purchase Other Current Assets                               0.00            0.00              0.00
   Purchase Long-term Assets                                   0.00            0.00              0.00
   Dividends                                                 120.00          120.00            120.00
   Subtotal Cash Spent                                      4209.57         4183.48           4497.55

   Net Cash Flow                                             586.96           30.16               39.15
   Cash Balance                                              589.36          619.52              658.67




   Chart: Cash




7.7 Projected Balance Sheet

   Figures are indicative to corroborate write=up. Actual projection is annexed in CMA format.

Table: Balance Sheet


   Pro Forma Balance Sheet
                                                        FY 2010          FY 2011           FY 2012
   Assets


   Current Assets
   Cash                                                  Rs589            Rs620             Rs659
   Accounts Receivable                                   Rs976           Rs1,054           Rs1,139
   Inventory                                             Rs237            Rs256             Rs277

                                                                                           Page 24
                                                SSE



   Other Current Assets                                    Rs6               Rs6              Rs6
   Total Current Assets                                Rs1,809           Rs1,936          Rs2,080

   Long-term Assets
   Long-term Assets                                        Rs0               Rs0              Rs0
   Accumulated Depreciation                                Rs7             Rs12             Rs16
   Total Long-term Assets                                (Rs7)            (Rs12)           (Rs16)
   Total Assets                                        Rs1,802           Rs1,924          Rs2,064

   Liabilities and Capital                             FY 2010          FY 2011           FY 2012

   Current Liabilities
   Accounts Payable                                       0.00              0.00             0.00
   Current Borrowing                                    600.00            600.00           600.00
   Other Current Liabilities                            600.00            600.00           600.00
   Subtotal Current Liabilities                        1200.00           1200.00          1200.00

   Long-term Liabilities                                  0.00              0.00             0.00
   Total Liabilities                                   1200.00           1200.00          1200.00

   Paid-in Capital                                      300.00            300.00           300.00
   Retained Earnings                                   -120.60            181.89           304.02
   Earnings                                             422.49            242.14           260.25
   Total Capital                                        601.89            724.02           864.28
   Total Liabilities and Capital                       1801.89           1924.02          2064.28

   Net Worth                                            601.89            724.02           864.28



7.8 Business Ratios

   The following table presents important ratios from the Operation of the company for the next
   three years.

Table: Ratios


   Ratio Analysis
                                                          FY 2010           FY 2011         FY 2012
   Sales Growth                                             0.00%             8.00%           8.00%

   Percent of Total Assets
   Accounts Receivable                                     54.18%           54.80%           55.16%
   Inventory                                               13.17%           13.32%           13.41%
   Other Current Assets                                     0.33%            0.31%            0.29%
   Total Current Assets                                   100.39%          100.63%          100.77%
   Long-term Assets                                        -0.39%           -0.63%           -0.77%
   Total Assets                                           100.00%          100.00%          100.00%

   Current Liabilities                                     66.60%            62.37%          58.13%
   Long-term Liabilities                                    0.00%             0.00%           0.00%
   Total Liabilities                                       66.60%            62.37%          58.13%
   Net Worth                                               33.40%            37.63%          41.87%

   Percent of Sales
   Sales                                                  100.00%          100.00%          100.00%
   Gross Margin                                            18.89%           18.56%           18.46%
   Selling, General & Administrative Expenses               8.19%           12.89%           12.81%
   Advertising Expenses                                     5.47%            5.32%            5.17%
   Profit Before Interest and Taxes                        19.31%           11.37%           11.14%

   Main Ratios
   Current                                                       1.51          1.61               1.73

                                                                                          Page 25
                               SSE



Quick                                    1.31      1.40        1.50
Total Debt to Total Assets            66.60%    62.37%      58.13%
Pre-tax Return on Net Worth          107.99%    51.45%      46.33%
Pre-tax Return on Assets              36.07%    19.36%      19.40%

Additional Ratios                    FY 2010    FY 2011    FY 2012
Net Profit Margin                     10.70%      5.68%      5.65%
Return on Equity                      70.19%     33.44%     30.11%

Activity Ratios
Accounts Receivable Turnover            4.04       4.04       4.04
Collection Days                           83         87         87
Inventory Turnover                     12.00      12.46      12.46
Accounts Payable Turnover               0.00       0.00       0.00
Payment Days                               0          0          0
Total Asset Turnover                    2.19       2.22       2.23

Debt Ratios
Debt to Net Worth                        1.99      1.66       1.39
Current Liab. to Liab.                   1.00      1.00       1.00

Liquidity Ratios
Net Working Capital                   608.97     736.21     880.23
Interest Coverage                       6.78       4.31       4.56

Additional Ratios
Assets to Sales                         0.46       0.45       0.45
Current Debt/Total Assets               67%        62%        58%
Acid Test                               0.50       0.52       0.55
Sales/Net Worth                         6.56       5.89       5.33
Dividend Payout                         0.28       0.50       0.46




                                                          Page 26
                                                    Appendix

Table: Sales Forecast


Sales Forecast
                          Apr      May      Jun       Jul      Aug      Sep      Oct      Nov      Dec      Jan      Feb        Mar
Sales
Chilli Powder            16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Turmeric Powder          16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Coriander Seeds          10.16    10.16    10.16    10.16    10.16     10.16    10.16    10.16    10.16    10.16    10.16      10.16
Basmati Rice             30.47    30.47    30.47    30.47    30.47     30.47    30.47    30.47    30.47    30.47    30.47      30.47
Coffee Powder            16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Tea Powder                4.06     4.06     4.06     4.06      4.06     4.06     4.06     4.06     4.06     4.06     4.06       4.06
Rice Flour                8.13     8.13     8.13     8.13      8.13     8.13     8.13     8.13     8.13     8.13     8.13       8.13
Idly Rawa Powder          8.13     8.13     8.13     8.13      8.13     8.13     8.13     8.13     8.13     8.13     8.13       8.13
Green Gram Powder        16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Pure Ghee                16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Sambar Powder            20.31    20.31    20.31    20.31    20.31     20.31    20.31    20.31    20.31    20.31    20.31      20.31
Briyani Masala           16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Chicken Masala           16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Fish Curry Masala        16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Fish Fry Masala          16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Chicken Fry Masala       16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Chicken 555 Masala       16.25    16.25    16.25    16.25    16.25     16.25    16.25    16.25    16.25    16.25    16.25      16.25
Rasa powder Masala       20.31    20.31    20.31    20.31    20.31     20.31    20.31    20.31    20.31    20.31    20.31      20.31
Porridge (Rice)          24.38    24.38    24.38    24.38    24.38     24.38    24.38    24.38    24.38    24.38    24.38      24.38
Snack Powder Masala      24.38    24.38    24.38    24.38    24.38     24.38    24.38    24.38    24.38    24.38    24.38      24.38
Total Sales             329.08   329.08   329.08   329.08   329.08    329.08   329.08   329.08   329.08   329.08   329.08     329.08


Direct Cost of Sales      Apr      May      Jun       Jul      Aug      Sep      Oct      Nov      Dec      Jan      Feb        Mar
Chilli Powder            11.73    11.73    11.73    11.73    11.73     11.73    11.73    11.73    11.73    11.73    11.73      11.73
Turmeric Powder           8.80     8.80     8.80     8.80      8.80     8.80     8.80     8.80     8.80     8.80     8.80       8.80
Coriander Seeds          11.73    11.73    11.73    11.73    11.73     11.73    11.73    11.73    11.73    11.73    11.73      11.73
Basmati Rice             13.48    13.48    13.48    13.48    13.48     13.48    13.48    13.48    13.48    13.48    13.48      13.48
Coffee Powder            17.60    17.60    17.60    17.60    17.60     17.60    17.60    17.60    17.60    17.60    17.60      17.60
Tea Powder               11.73    11.73    11.73    11.73    11.73     11.73    11.73    11.73    11.73    11.73    11.73      11.73
Rice Flour                2.93     2.93     2.93     2.93      2.93     2.93     2.93     2.93     2.93     2.93     2.93       2.93
Idly Rawa Powder          2.93     2.93     2.93     2.93      2.93     2.93     2.93     2.93     2.93     2.93     2.93       2.93
Green Gram Powder         3.54     3.54     3.54     3.54      3.54     3.54     3.54     3.54     3.54     3.54     3.54       3.54
Pure Ghee                11.69    11.69    11.69    11.69    11.69     11.69    11.69    11.69    11.69    11.69    11.69      11.69
Sambar Powder            15.58    15.58    15.58    15.58    15.58     15.58    15.58    15.58    15.58    15.58    15.58      15.58



                                                                                                                            Page 1
                                                            Appendix

Briyani Masala                   12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47      12.47
Chicken Masala                   12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47      12.47
Fish Curry Masala                12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47      12.47
Fish Fry Masala                  12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47      12.47
Chicken Fry Masala               12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47      12.47
Chicken 555 Masala               12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47    12.47      12.47
Rasa powder Masala               15.58    15.58    15.58    15.58    15.58    15.58    15.58    15.58    15.58    15.58    15.58      15.58
Porridge (Rice)                  17.60    17.60    17.60    17.60    17.60    17.60    17.60    17.60    17.60    17.60    17.60      17.60
Snack Powder Masala              17.60    17.60    17.60    17.60    17.60    17.60    17.60    17.60    17.60    17.60    17.60      17.60
Subtotal Direct Cost of Sales   237.34   237.34   237.34   237.34   237.34   237.34   237.34   237.34   237.34   237.34   237.34     237.34




                                                                                                                                   Page 2
                                                 Appendix

Table: Personnel


Personnel Plan
                            Apr    May    Jun      Jul      Aug    Sep    Oct    Nov    Dec    Jan    Feb        Mar
General Manager             0.60   0.60   0.60    0.60      0.60   0.60   0.60   0.60   0.60   0.60   0.60      0.60
Manager                     0.50   0.50   0.50    0.50      0.50   0.50   0.50   0.50   0.50   0.50   0.50      0.50
Supervisors                 0.45   0.45   0.45    0.45      0.45   0.45   0.45   0.45   0.45   0.45   0.45      0.45
Admin and Excise, Customs   0.32   0.32   0.32    0.32      0.32   0.32   0.32   0.32   0.32   0.32   0.32      0.32
Accounts                    0.32   0.32   0.32    0.32      0.32   0.32   0.32   0.32   0.32   0.32   0.32      0.32
Stores                      0.32   0.32   0.32    0.32      0.32   0.32   0.32   0.32   0.32   0.32   0.32      0.32
Security                    0.40   0.40   0.40    0.40      0.40   0.40   0.40   0.40   0.40   0.40   0.40      0.40
Quality Control             0.60   0.60   0.60    0.60      0.60   0.60   0.60   0.60   0.60   0.60   0.60      0.60
Wages                       1.94   1.94   1.94    1.94      1.94   1.94   1.94   1.94   1.94   1.94   1.94      1.94
Total People                 29     29     29      29        29     29     29     29     29     29     29         29


Total Payroll               5.45   5.45   5.45    5.45      5.45   5.45   5.45   5.45   5.45   5.45   5.45      5.45




                                                                                                             Page 1
                                                                       Appendix

Table: Profit and Loss


Pro Forma Profit and Loss
                                      Apr     May       Jun      Jul         Aug      Sep       Oct     Nov      Dec       Jan     Feb        Mar
Sales                              329.08   329.08   329.08   329.08       329.08   329.08   329.08   329.08   329.08   329.08   329.08     329.08
Direct Cost of Sales               237.34   237.34   237.34   237.34       237.34   237.34   237.34   237.34   237.34   237.34   237.34     237.34
Other Costs of Sales                29.58    29.58    29.58    29.58        29.58    29.58    29.58    29.58    29.58    29.58    29.58      29.58
Total Cost of Sales                266.92   266.92   266.92   266.92       266.92   266.92   266.92   266.92   266.92   266.92   266.92     266.92


Gross Margin                        62.16    62.16    62.16    62.16        62.16    62.16    62.16    62.16    62.16    62.16    62.16      62.16
Gross Margin %                     18.89%   18.89%   18.89%   18.89%       18.89%   18.89%   18.89%   18.89%   18.89%   18.89%   18.89%     18.89%




Expenses
Payroll                              5.45     5.45     5.45     5.45         5.45     5.45     5.45     5.45     5.45     5.45     5.45       5.45
Marketing/Promotion                 18.00    18.00    18.00    18.00        18.00    18.00    18.00    18.00    18.00    18.00    18.00      18.00
Depreciation                         0.59     0.59     0.59     0.59         0.59     0.59     0.59     0.59     0.59     0.59     0.59       0.59
Rent                                 1.10     1.10     1.10     1.10         1.10     1.10     1.10     1.10     1.10     1.10     1.10       1.10
Admin Expenses                       1.30     1.30     1.30     1.30         1.30     1.30     1.30     1.30     1.30     1.30     1.30       1.30


Total Operating Expenses            26.44    26.44    26.44    26.44        26.44    26.44    26.44    26.44    26.44    26.44    26.44      26.44


Profit Before Interest and Taxes    63.54    63.54    63.54    63.54        63.54    63.54    63.54    63.54    63.54    63.54    63.54      63.54
EBITDA                              64.13    64.13    64.13    64.13        64.13    64.13    64.13    64.13    64.13    64.13    64.13      64.13
 Interest Expense                    9.38     9.38     9.38     9.38         9.38     9.38     9.38     9.38     9.38     9.38     9.38       9.38
 Taxes Incurred                     18.96    18.96    18.96    18.96        18.96    18.96    18.96    18.96    18.96    18.96    18.96      18.96


Other Income
Scrap                                0.40     0.40     0.40     0.40         0.40     0.40     0.40     0.40     0.40     0.40     0.40       0.40
Variation in Stock                  27.42    27.42    27.42    27.42        27.42    27.42    27.42    27.42    27.42    27.42    27.42      27.42
Total Other Income                  27.82    27.82    27.82    27.82        27.82    27.82    27.82    27.82    27.82    27.82    27.82      27.82


Other Expense
Other Expense Account Name           0.00     0.00     0.00     0.00         0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Other Expense Account Name           0.00     0.00     0.00     0.00         0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Total Other Expense                  0.00     0.00     0.00     0.00         0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00


Net Other Income                    27.82    27.82    27.82    27.82        27.82    27.82    27.82    27.82    27.82    27.82    27.82      27.82
Net Profit                          35.21    35.21    35.21    35.21        35.21    35.21    35.21    35.21    35.21    35.21    35.21      35.21



                                                                                                                                          Page 1
                                                       Appendix
Net Profit/Sales   10.70%   10.70%   10.70%   10.70%       10.70%   10.70%   10.70%   10.70%   10.70%   10.70%   10.70%     10.70%




                                                                                                                          Page 2
                                                                                Appendix

Table: Cash Flow


Pro Forma Cash Flow
                                                       Apr      May      Jun       Jul      Aug      Sep      Oct      Nov      Dec      Jan      Feb        Mar
Cash Received


Cash from Operations
Cash Sales                                             0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Cash from Receivables                                  0.00     0.00    10.97   329.08   329.08    329.08   329.08   329.08   329.08   329.08   329.08     329.08
Subtotal Cash from Operations                          0.00     0.00    10.97   329.08   329.08    329.08   329.08   329.08   329.08   329.08   329.08     329.08


Additional Cash Received
Non Operating (Other) Income                          27.82    27.82    27.82    27.82     27.82    27.82    27.82    27.82    27.82    27.82    27.82      27.82
Sales Tax, VAT, HST/GST Received            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
New Current Borrowing                                600.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
New Other Liabilities (interest-free)                600.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
New Long-term Liabilities                              0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Sales of Other Current Assets                          0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Sales of Long-term Assets                              0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
New Investment Received                              290.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Subtotal Cash Received                              1517.82    27.82    38.79   356.90   356.90    356.90   356.90   356.90   356.90   356.90   356.90     356.90


Expenditures                                           Apr      May      Jun       Jul      Aug      Sep      Oct      Nov      Dec      Jan      Feb        Mar


Expenditures from Operations
Cash Spending                                        557.44   321.10   321.10   321.10   321.10    321.10   321.10   321.10   321.10   321.10   321.10     321.10
Bill Payments                                          0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Subtotal Spent on Operations                         557.44   321.10   321.10   321.10   321.10    321.10   321.10   321.10   321.10   321.10   321.10     321.10


Additional Cash Spent
Non Operating (Other) Expense                          0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Sales Tax, VAT, HST/GST Paid Out                       0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Principal Repayment of Current Borrowing               0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Other Liabilities Principal Repayment                  0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Long-term Liabilities Principal Repayment              0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Purchase Other Current Assets                          0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Purchase Long-term Assets                              0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00       0.00
Dividends                                              0.00     0.00     0.00     0.00      0.00     0.00     0.00     0.00     0.00     0.00     0.00     120.00
Subtotal Cash Spent                                  557.44   321.10   321.10   321.10   321.10    321.10   321.10   321.10   321.10   321.10   321.10     441.10



                                                                                                                                                         Page 1
                                             Appendix

Net Cash Flow   960.38   -293.28   -282.31    35.80     35.80    35.80    35.80    35.80    35.80    35.80    35.80     -84.20
Cash Balance    962.78   669.49    387.18    422.98   458.78    494.57   530.37   566.17   601.96   637.76   673.56     589.36




                                                                                                                      Page 2
                                                                            Appendix

Table: Balance Sheet


Pro Forma Balance
Sheet
                                            Apr      May        Jun       Jul      Aug       Sep        Oct      Nov       Dec       Jan       Feb         Mar
Assets                    Starting
                          Balances

Current Assets
Cash                             Rs2     Rs963     Rs669     Rs387     Rs423     Rs459     Rs495     Rs530     Rs566     Rs602     Rs638     Rs674       Rs589
Accounts Receivable              Rs0     Rs329     Rs658     Rs976     Rs976     Rs976     Rs976     Rs976     Rs976     Rs976     Rs976     Rs976       Rs976
Inventory                        Rs1     Rs237     Rs237     Rs237     Rs237     Rs237     Rs237     Rs237     Rs237     Rs237     Rs237     Rs237       Rs237
Other Current Assets             Rs6        Rs6       Rs6       Rs6       Rs6       Rs6       Rs6       Rs6       Rs6       Rs6       Rs6       Rs6         Rs6
Total Current Assets             Rs9    Rs1,535   Rs1,571   Rs1,607   Rs1,643   Rs1,678   Rs1,714   Rs1,750   Rs1,786   Rs1,822   Rs1,857   Rs1,893     Rs1,809

Long-term Assets
Long-term Assets                 Rs0       Rs0       Rs0       Rs0       Rs0       Rs0       Rs0       Rs0       Rs0       Rs0       Rs0       Rs0         Rs0
Accumulated                      Rs0       Rs1       Rs1       Rs2       Rs2       Rs3       Rs4       Rs4       Rs5       Rs5       Rs6       Rs6         Rs7
Depreciation
Total Long-term                  Rs0      (Rs1)     (Rs1)     (Rs2)     (Rs2)     (Rs3)     (Rs4)     (Rs4)     (Rs5)     (Rs5)     (Rs6)     (Rs6)       (Rs7)
Assets
Total Assets                     Rs9    Rs1,535   Rs1,570   Rs1,605   Rs1,640   Rs1,675   Rs1,711   Rs1,746   Rs1,781   Rs1,816   Rs1,851   Rs1,887     Rs1,802

Liabilities and Capital                     Apr      May        Jun       Jul      Aug       Sep        Oct      Nov       Dec       Jan       Feb         Mar


Current Liabilities
Accounts Payable                 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
Current Borrowing                0.00    600.00    600.00    600.00    600.00    600.00    600.00    600.00    600.00    600.00    600.00    600.00      600.00
Other Current                    0.00    600.00    600.00    600.00    600.00    600.00    600.00    600.00    600.00    600.00    600.00    600.00      600.00
Liabilities
Subtotal Current                 0.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00     1200.00
Liabilities

Long-term Liabilities            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
Total Liabilities                0.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00   1200.00     1200.00

Paid-in Capital                 10.00    300.00    300.00    300.00    300.00    300.00    300.00    300.00    300.00    300.00    300.00    300.00      300.00
Retained Earnings               -0.60     -0.60     -0.60     -0.60     -0.60     -0.60     -0.60     -0.60     -0.60     -0.60     -0.60     -0.60     -120.60
Earnings                         0.00     35.21     70.41    105.62    140.83    176.04    211.24    246.45    281.66    316.87    352.07    387.28      422.49
Total Capital                    9.40    334.61    369.81    405.02    440.23    475.44    510.64    545.85    581.06    616.27    651.47    686.68      601.89
Total Liabilities and            9.40   1534.61   1569.81   1605.02   1640.23   1675.44   1710.64   1745.85   1781.06   1816.27   1851.47   1886.68     1801.89
Capital

Net Worth                        9.40    334.61    369.81    405.02    440.23    475.44    510.64    545.85    581.06    616.27    651.47    686.68      601.89




                                                                                                                                                      Page 1
       Appendix




Financial Projections

         In

   CMA Format




                        Page 2
              Appendix




Intentionally left blank for notes

                                     Page 3
                                                   Appendix

For Bank of Baroda
SSE

 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

 FORM II : OPERATING STATEMENT
                                                 Proj.      Proj.       Proj.      Proj.     Proj.      Proj.
[Rs.in lacs]                                     2009-10    2010-11     2011-12    2012-13   2013-14    2014-15



1. GROSS SALES
  i) Domestic Sales                                  0.00        0.00       0.00      0.00       0.00      0.00
  ii) Export Sales                                3948.76     4212.00    4330.63   4449.25    4567.88   4686.50
     Total                                       3948.76 4212.00 4330.63           4449.25   4567.88    4686.50
2. Less Excise Duty                                  0.00        0.00       0.00      0.00       0.00      0.00
3. Net Sales (1-2)                                3948.76     4212.00    4330.63   4449.25    4567.88   4686.50
4. % rise (+) or fall (-) in net
  sales as compared to previous year                        106.67%     102.82%    102.74%   102.67%    102.60%
5. Cost of Sales
  i) Raw materials
    a) Imported                                      0.00        0.00       0.00      0.00       0.00      0.00
    b) Indigeneous                                2848.05     2759.20    2842.80   3003.40    3010.00   3093.60
 ii) Other Spares
    a) Imported                                      0.00        0.00       0.00      0.00       0.00      0.00
    b) Indigeneous (Packing, Forwarding)           348.75      390.60     426.69    465.39     506.88    551.37
 iii) Power and Fuel                                 0.00        0.00       0.00      0.00       0.00      0.00
 iv) Employee Costs (Factory wages & salaries)      65.37       71.53      77.59     84.09      91.10     98.66
  v) Other Manufacturing expenses                    6.24        6.56       6.88      7.25       7.62      7.99
 vi) Depreciation                                    7.08        5.11       3.76      2.80       2.12      1.62
 vii) SUB-TOTAL ( i to vi)                        3275.49     3233.00    3357.72   3562.93    3617.72   3753.24
viii) Add: Opening Stock-in-Process                  0.00        0.00       0.00      0.00       0.00      0.00
      Sub Total                                   3275.49     3233.00    3357.72   3562.93    3617.72   3753.24
 ix) Deduct: Closing stock-in-process                0.00        0.00       0.00      0.00       0.00      0.00
  x) Cost of Production                           3275.49     3233.00    3357.72   3562.93    3617.72   3753.24
 xi) Add: Opening stock of Finished Goods            0.00      329.06     351.00    360.89     370.77    380.66
     Sub Total                                    3275.49     3562.06    3708.72   3923.82    3988.49   4133.90
 xii) Deduct:Closing stock of Fin.Goods            329.06      351.00     360.89    370.77     380.66    390.54
xiii) SUB TOTAL (Total cost of Sales)             2946.43     3211.06    3347.83   3553.05    3607.83   3743.36
6. Selling, general, and admn.exp.                 244.80      257.88     272.55    285.71     299.56    314.12
7. SUB TOTAL (5+6)                                3191.23     3468.94    3620.38   3838.76    3907.39   4057.48
8. Operating profit before interest                757.53      743.06     710.25    610.49     660.49    629.02




                                                                                                        Page 4
                                               Appendix

For Bank of Baroda
SSE
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

 FORM II : OPERATING STATEMENT

[Rs.in lacs]                                 Proj.      Proj.       Proj.      Proj.      Proj.      Proj.
                                             2009-10    2010-11     2011-12    2012-13    2013-14    2014-15



9. Interest                                    201.00     201.00      201.00    201.00      201.00    201.00

10. Operating profit after interest(8-9)       556.53     542.06      509.25    409.49      459.49    428.02
11. i) Add other non-operating income
      (a) Duty draw back and DEPB                0.00        0.00       0.00       0.00       0.00       0.00
      (b) Profit on Invst.redemption             0.00        0.00       0.00       0.00       0.00       0.00
      (c) Miscellaneous                          4.80        4.94       5.09       5.24       5.40       5.56
      Sub-total(income)                          4.80        4.94       5.09       5.24       5.40       5.56

   ii) Deduct other non-operating expenses
      (a) Exchange loss, if any                  0.00        0.00       0.00       0.00       0.00       0.00
      (b) Miscellaneous Expenses                 0.00        0.00       0.00       0.00       0.00       0.00
   Sub-total(expenses)                           0.00        0.00       0.00       0.00       0.00       0.00

   iii) Net of other non-operating               4.80        4.94       5.09       5.24       5.40       5.56
       income/expenses
       [net of 11(i) & 11(ii)]


12 Profit before tax/loss 10+11(iii)           561.33     547.00      514.34    414.73      464.89    433.58
13 Provision for taxes                         196.47     191.45      180.02    145.16      162.71    151.75
14 Net Profit/loss (12-13)                     364.86     355.55      334.32    269.57      302.18    281.83

15 (a) Proprietor's Drawings                   120.00     120.00      120.00    120.00      120.00    120.00
  (a) Dividend rate
16 Retained profit (14-15)                     244.86      235.55     214.32     149.57     182.18     161.83
17 Retained profit/NetProfit (%)              67.11%      66.25%     64.11%     55.48%     60.29%     57.42%
18 Cash Accruals                               251.94      240.66     218.08     152.37     184.30     163.45




                                                                                                     Page 5
                                                               Appendix


For Bank of Baroda
SSE

 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

                       ANALYSIS OF BALANCE SHEET

[Rs.in lacs]                                                 Proj.      Proj.       Proj.      Proj.     Proj.      Proj.
                                                             2009-10    2010-11     2011-12    2012-13   2013-14    2014-15

 LIABILITIES
 CURRENT LIABILITIES
 1. Short term borrowings from banks
   (incld. bills purchased discounted
   & excess borrowings placed on
   repayment basis)
    i) From applicant bank                                    1200.00     1200.00    1200.00   1200.00    1200.00   1200.00
   ii) From other banks                                          0.00        0.00       0.00      0.00       0.00      0.00
   iii) (of which BP & BD)                                       0.00        0.00       0.00      0.00       0.00      0.00
      Sub total (a)                                           1200.00     1200.00    1200.00   1200.00    1200.00   1200.00

 2. Short term borrowings from others                            0.00        0.00       0.00      0.00       0.00      0.00
 3. Sundry Creditors (trade)                                     0.00        0.00       0.00      0.00       0.00      0.00
 4. Advance payments / deposits from customers                   0.00        0.00       0.00      0.00       0.00      0.00
 5. Provision for taxation & Gratuity                            0.00        0.00       0.00      0.00       0.00      0.00
 6. Dividend payable                                             0.00        0.00       0.00      0.00       0.00      0.00
 7. Other statutory liabilities(due within one year)             0.00        0.00       0.00      0.00       0.00      0.00
 8. Deposits/instalments of term loans/ DPG/                     0.00        0.00       0.00      0.00       0.00      0.00
   debentures etc.(due within one year)
 9. Other Current liabilities & provisions (due within one
year)                                                           25.00       25.00      25.00     25.00      25.00     25.00
 10.Other Provisions                                             0.00        0.00       0.00      0.00       0.00      0.00

       Sub-total (B)                                            25.00       25.00      25.00     25.00      25.00     25.00

 11. TOTAL CURRENT LIABILITIES                                1225.00     1225.00    1225.00   1225.00    1225.00   1225.00




                                                                                                                    Page 6
                                                   Appendix

For Bank of Baroda
SSE
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

                      ANALYSIS OF BALANCE SHEET

[Rs.in lacs]                                  Proj.         Proj.       Proj.      Proj.     Proj.      Proj.
                                              2009-10       2010-11     2011-12    2012-13   2013-14    2014-15

TERM LIABILITIES
11 Debentures (not maturing within                   0.00        0.00       0.00      0.00       0.00      0.00
  one year)
12 Preference Shares (redeemable                     0.00        0.00       0.00      0.00       0.00      0.00
   after one Year)
13 Term loans (excluding instalments                 0.00        0.00       0.00      0.00       0.00      0.00
  payable within one year)
14 Deferred payment Credits (excluding               0.00        0.00       0.00      0.00       0.00      0.00
  instalments due within one year)
15 Term deposits payable after one ye                0.00        0.00       0.00      0.00       0.00      0.00
16 Other term liabilities                            0.00        0.00       0.00      0.00       0.00      0.00

17 TOTAL TERM LIABILITIES                            0.00        0.00       0.00      0.00       0.00      0.00
 (Total of 11 to 16)
18 TOTAL OUTSIDE LIABILITES                       1225.00     1225.00    1225.00   1225.00    1225.00   1225.00
 (10+17)

       NET WORTH

19 Ordinary Share capital                          300.00      300.00     300.00    300.00     300.00    300.00

20 General reserve                                   0.00        0.00       0.00      0.00       0.00      0.00

21 Revaluation reserve                               0.00        0.00       0.00      0.00       0.00      0.00

22 Capital Investment Subsidy                        0.00        0.00       0.00      0.00       0.00      0.00

23 Surplus(+) or deficit(-) in P & L               244.86      480.41     694.73    844.30    1026.48   1188.31

24 NET WORTH                                       544.86      780.41     994.73   1144.30    1326.48   1488.31
25 TOTAL LIABILITIES                              1769.86     2005.41    2219.73   2369.30    2551.48   2713.31
 (18+24)




                                                                                                        Page 7
                                            Appendix


For Bank of Baroda
SSE


                                          Proj.     Proj.     Proj.     Proj.     Proj.     Proj.
                                          2009-10   2010-11   2011-12   2012-13   2013-14   2014-15
 ADJUSTMENT FOR REPAYMENT DUE WITHIN NE
 11 Debentures (maturing within 1 YEAR)

 12 Preference Shares (redeemable
   within 1 year)
 13 Term loans(instalments payable
    within one year)
 14 Deferred payment Credits
   (instalments due within one year)
 15 Term deposits within one year
 16 Other term liab.
    (payable within one year)




                                                                                            Page 8
                                            Appendix


For Bank of Baroda
SSE

 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

ANALYSIS OF BALANCE SHEET

[Rs.in lacs]                              Proj.      Proj.       Proj.      Proj.     Proj.      Proj.
                                          2009-10    2010-11     2011-12    2012-13   2013-14    2014-15
  ASSETS
 CURRENT ASSETS
 26 Cash and Bank Balances                  401.99      554.90     733.43    846.27     991.02   1114.94
 27 Investments (Other than long term)
  (i) Govt. and other Trustee Securiti        0.00        0.00       0.00      0.00       0.00      0.00
  (ii)Fixed deposits with banks               0.00        0.00       0.00      0.00       0.00      0.00
 28 (i)Receivables other than deferred
   & Exports (incldg. bills purchased
   and Discounted with banks)                 0.00        0.00       0.00      0.00       0.00      0.00
  (ii) Export receivables (including
   bills purchased/discounted with ban      987.19     1053.00    1082.66   1112.31    1141.97   1171.63
 29 Instalments of deferred receivables       0.00        0.00       0.00      0.00       0.00      0.00
   (due within one year)
 30 Inventory:
   (i) Raw materials
       Packing Credit: Imported               0.00        0.00       0.00      0.00       0.00      0.00
                   Indigeneous                0.00        0.00       0.00      0.00       0.00      0.00
       Other Stock:     Imported              0.00        0.00       0.00      0.00       0.00      0.00
                   Indigeneous                0.00        0.00       0.00      0.00       0.00      0.00
    (ii) Stock in process                     0.00        0.00       0.00      0.00       0.00      0.00
   (iii) Finished goods                     329.06      351.00     360.89    370.77     380.66    390.54
    (iv) Other consumable spares
         (a) Imported                         0.00        0.00       0.00      0.00       0.00      0.00
         (b) Indigeneous                      0.00        0.00       0.00      0.00       0.00      0.00
 31 Advances to suppliers/rejn. recov.
   of raw materials and spares                0.00        0.00       0.00      0.00       0.00      0.00
 32 Advance payment of Taxes                  0.00        0.00       0.00      0.00       0.00      0.00
 33 Other Current Assets                     30.00       30.00      30.00     30.00      30.00     30.00
 34 TOTAL CURRENT ASSETS                   1748.24     1988.90    2206.98   2359.35    2543.65   2707.11
        FIXED ASSETS
 35 Gross Block                              28.70       28.70      28.70     28.70      28.70     28.70
 36 Depreciation to date                      7.08       12.19      15.95     18.75      20.87     22.49
 37 NET BLOCK                                21.62       16.51      12.75      9.95       7.83      6.21




                                                                                                 Page 9
                                            Appendix

For Bank of Baroda
SSE

 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

ANALYSIS OF BALANCE SHEET

                                          Proj.      Proj.       Proj.      Proj.     Proj.      Proj.
[Rs.in lacs]                              2009-10    2010-11     2011-12    2012-13   2013-14    2014-15

  ASSETS
 OTHER NON-CURRENT ASSETS
 38 Investments/book debts/advances
    deposits which are not current asse
   I) a) Investmnets in subsidiary
         companies/affiliates                 0.00        0.00       0.00      0.00       0.00       0.00
       b) Others                              0.00        0.00       0.00      0.00       0.00       0.00
  II) Advance to suppliers of
       Capital goods & Contractors            0.00        0.00       0.00      0.00       0.00       0.00
 III) Deferred Receivables (maturity
       exceeding one year)                    0.00        0.00       0.00      0.00       0.00       0.00
  IV) Other Non current assets                0.00        0.00       0.00      0.00       0.00       0.00
 39 Non consumable stores & spares            0.00        0.00       0.00      0.00       0.00       0.00
 40 Other non current assets incldg
    dues from directors                       0.00        0.00       0.00      0.00       0.00       0.00
 41 TOTAL OTHER NON CURR. ASSETS              0.00        0.00       0.00      0.00       0.00       0.00
 42 Intangible assets (patents, good-
    will, prelim. exps., bad/doubtful
    debts, not provided for. etc)             0.00        0.00       0.00      0.00       0.00       0.00
 43 TOTAL ASSETS                           1769.86     2005.41    2219.73   2369.30    2551.48    2713.32
 44 TANGIBLE NET WORTH (24-42)              544.86      780.41     994.73   1144.30    1326.48    1488.31
 45 NET WORKING CAPITAL                     523.24      763.90     981.98   1134.35    1318.65    1482.10
    [(17+24)-(37+41+42)                     523.24      763.90     981.98   1134.35    1318.65    1482.10
 46 CURRENT RATIO(Items 34/10)                1.43        1.62       1.80      1.93       2.08       2.21
 47 TOTAL OUTSIDE LIABILITIES/TANGIBLE
    NET WORTH (18/44)                         2.25        1.57       1.23      1.07       0.92       0.82
    ADDITIONAL INFORMATION
 A) Arrears of depreciation
 B) Contingent Liabilities
      i) Arrears of cumulative dividend
    ii) Gratuity liability not provided
   iii) Disputed excise/customs/tax lia
    iv) Other liabilities not provided

 Total Liabilities (Easy Reference)        1769.86     2005.41    2219.73   2369.30    2551.48    2713.31
DIFFERENCE [TA-TL]                            0.00        0.00       0.00      0.00       0.00       0.00




                                                                                                 Page 10
                                                          Appendix

For Bank of Baroda
SSE

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

 FORM IV -COMPARITIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

[Rs.in lacs]                                       Proj.      Proj.       Proj.        Proj.       Proj.        Proj.
                                                   2009-10    2010-11     2011-12      2012-13     2013-14      2014-15

 A. CURRENT ASSETS
 1. Raw materials (incldg. stores & other spares
     used in the process of manufact
   a) Imported: (Packing Credit)                      0.00         0.00        0.00         0.00        0.00         0.00
      Imported: (Other Stock)                         0.00         0.00        0.00         0.00        0.00         0.00
      Months' consumption                          #DIV/0!     #DIV/0!     #DIV/0!      #DIV/0!     #DIV/0!      #DIV/0!
   b) Indigeneous: (Packing Credit)                   0.00         0.00        0.00         0.00        0.00         0.00
      Indigeneous: (Other Stock)                      0.00         0.00        0.00         0.00        0.00         0.00
      Months' consumption                             0.00         0.00        0.00         0.00        0.00         0.00
             TOTAL                                    0.00         0.00        0.00         0.00        0.00         0.00
      Months' consumption                             0.00         0.00        0.00         0.00        0.00         0.00
 2. Other consumable stores,
   excluding those included in 1 above
   (a) Imported                                        0.00        0.00         0.00        0.00         0.00        0.00
   (b) Indigeneous                                     0.00        0.00         0.00        0.00         0.00        0.00
 3. Stocks in process:                                 0.00        0.00         0.00        0.00         0.00        0.00
   Months' Cost of production                          0.00        0.00         0.00        0.00         0.00        0.00
 4. Finished goods:                                 329.06      351.00       360.89      370.77       380.66      390.54
   Months' Cost of Sales                             (1.34)      (1.31)       (1.29)      (1.25)       (1.27)      (1.25)
 5. Receivables other than export
   & deferred receivables (incldg.
   bills purchased & discounted                        0.00        0.00        0.00         0.00        0.00         0.00
   by bankers)
   Months' domestic sales:                         #DIV/0!     #DIV/0!     #DIV/0!      #DIV/0!     #DIV/0!      #DIV/0!
 6. Export receivables (incl.bills
   purchased & discounted)                          987.19     1053.00      1082.66     1112.31      1141.97     1171.63
   Months' Export Sales                              (3.00)      (3.00)       (3.00)      (3.00)       (3.00)      (3.00)
 7. Advances to suppliers of raw materials
   stores/spares, consumables                          0.00        0.00        0.00         0.00        0.00         0.00
 8. * Other current assets incl. cash
   & bank balances & deferred
   receivables due within one year                  431.99      584.90       763.43      876.27      1021.02     1144.94
   (specify major items)
 9. TOTAL CURRENT ASSETS                           1748.24     1988.90      2206.98     2359.35      2543.65     2707.11

  (To agree with item 34 in Form III               1748.24     1988.90      2206.98     2359.35      2543.65     2707.11




                                                                                                                 Page 11
                                                                  Appendix

For Bank of Baroda
SSE

 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

 FORM IV -COMPARITIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

[Rs.in lacs]                                               Proj.      Proj.       Proj.       Proj.      Proj.       Proj.
                                                           2009-10    2010-11     2011-12     2012-13    2013-14     2014-15
 B. CURRENT LIABILITIES
   (Other than bank borrowings for
   Working capital)


 10 Creditors for purchase of raw
   materials, stores & consumable                              0.00        0.00        0.00       0.00        0.00       0.00
   spares
    Months' purchase                                                       0.00        0.00       0.00        0.00       0.00

 11 Advances from customers                                    0.00        0.00        0.00       0.00        0.00       0.00

 12 Statutory liabilities                                      0.00        0.00        0.00       0.00        0.00       0.00

 13 Other current liabilities (specify major items)          25.00        25.00       25.00      25.00       25.00      25.00
     Short term borrowing unsecured loans, dividend
payable
     instalments of TL, DPG, Public deposits, debentures
etc.


 14 Provision for Taxation & Gratuity                          0.00        0.00        0.00       0.00        0.00       0.00

 15 TOTAL                                                    25.00        25.00       25.00      25.00       25.00      25.00
   (To agree with sub total
   B-Form III)                                               25.00        25.00       25.00      25.00       25.00      25.00




                                                                                                                      Page 12
                                              Appendix

For Bank of Baroda
SSE


 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS


COMPUTATION OF BANK FINANCE


[Rs.in lacs]                            Proj.     Proj.       Proj.       Proj.      Proj.       Proj.
                                        2009-10   2010-11     2011-12     2012-13    2013-14     2014-15

 1. Total Current Assets                1748.24    1988.90      2206.98    2359.35     2543.65    2707.11
   (9 in Form IV)

 2. Other Current Liabilities             25.00       25.00       25.00      25.00       25.00      25.00
   (Other than bank borrowing)
   (14 of Form IV)

 3. Working Capital Gap (WCG)           1723.24    1963.90      2181.98    2334.35     2518.65    2682.11
   (1-2)

 4. Min. stipulaed net working capita
   i.e.25% of WCG/25% of total
   current assets as the case may be
   depending upon the method of          190.26     233.98       281.08     311.76      350.42     383.87
   lending being applied. (Export
   receivables to be excluded under
   both methods)

 5. Actual/projected net working         523.24     763.90       981.98    1134.35     1318.65    1482.10
   capital (45 in Form III)

 6. Item 3 minus item 4                 1532.98    1729.93      1900.90    2022.59     2168.23    2298.24

 7. Items 3 minus item 5                1200.00    1200.00      1200.00    1200.00     1200.00    1200.01

 8. MAXIMUM PERMISSIBLE BANK FINANCE
   (Item 6 or 7 whichever is lower)     1200.00    1200.00      1200.00    1200.00     1200.00    1200.01
    Actual/ Projected Bank borrowings   1200.00    1200.00      1200.00    1200.00     1200.00    1200.00
 9. Excess borrowing representing             0       0.00         0.00          0           0          0
   short fall in WCG




                                                                                                  Page 13
                                           Appendix


For Bank of Baroda
SSE


 ANALYSIS OF PROFIT AND LOSS AC
                                      Proj.      Proj.       Proj.      Proj.      Proj.        Proj.
                                      2009-10    2010-11     2011-12    2012-13    2013-14      2014-15
[Rs.in lacs]

 1. Gross Sales
 a) Net Exports(net of return          3948.76     4212.00    4330.63    4449.25      4567.88    4686.50
 b) Local Sales                           0.00        0.00       0.00       0.00         0.00       0.00
    Less: Excise Duty                     0.00        0.00       0.00       0.00         0.00       0.00
 2. NET SALES                          3948.76     4212.00    4330.63    4449.25      4567.88    4686.50
 3. Other Income:
     (a) Duty draw back and DEPB          0.00        0.00       0.00       0.00         0.00       0.00
     (b) Profit on Invst.redemption       0.00        0.00       0.00       0.00         0.00       0.00
     (c) Miscellaneous                    4.80        4.94       5.09       5.24         5.40       5.56
   Sub total                              4.80        4.94       5.09       5.24         5.40       5.56
  TOTAL INCOME                         3953.56     4216.94    4335.72    4454.49      4573.28    4692.06

  4. Raw Material consumed
   - Imported                             0.00        0.00       0.00       0.00         0.00       0.00
   - Indigenous                        2848.05     2759.20    2842.80    3003.40      3010.00    3093.60
  5. Stores & spares                    348.75      390.60     426.69     465.39       506.88     551.37
  6. Power & fuel                         0.00        0.00       0.00       0.00         0.00       0.00
  7. Labour charges                      65.37       71.53      77.59      84.09        91.10      98.66
  8. Repairs and Maintenance              0.00        0.00       0.00       0.00         0.00       0.00
  9. Other Mfg. Expenses                  6.24        6.56       6.88       7.25         7.62       7.99
 10. Depreciation                         7.08        5.11       3.76       2.80         2.12       1.62
     SUB TOTAL                         3275.49     3233.00    3357.72    3562.93      3617.72    3753.24
 Add: Opening Work in Process             0.00        0.00       0.00       0.00         0.00       0.00
 Less: Closing Work in Proces             0.00        0.00       0.00       0.00         0.00       0.00
  COST OF PRODUCTION                   3275.49     3233.00    3357.72    3562.93      3617.72    3753.24
 Add: Opening Finished goods              0.00      329.06     351.00     360.89       370.77     380.66
 Less: Closing Finished goods           329.06      351.00     360.89     370.77       380.66     390.54
 TOTAL COST OF SALES                   2946.43     3211.06    3347.83    3553.05      3607.83    3743.36
 11. Selling, General &                 244.80      257.88     272.55     285.71       299.56     314.12
    Administrative overhead
 12. Interest                           201.00      201.00     201.00     201.00       201.00     201.00
 13. Exchange loss, if any                0.00        0.00       0.00       0.00         0.00       0.00
 14. Miscellaneous Expenses               0.00        0.00       0.00       0.00         0.00       0.00

 TOTAL EXPENSES                        3392.23     3669.94    3821.38    4039.76      4108.39    4258.48
 15. Profit Before Tax                  561.33      547.00     514.34     414.73       464.89     433.58
 16. Income tax/Provision               196.47      191.45     180.02     145.16       162.71     151.75
 17. Net Profit                         364.86      355.55     334.32     269.57       302.18     281.83
                                        364.86      355.55     334.32     269.57       302.18     281.83



                                                                                                Page 14
                                     Appendix

For Bank of Baroda
SSE

 ANALYSIS OF BALANCE SHEET

[Rs.in lacs]                    Proj.      Proj.       Proj.       Proj.      Proj.        Proj.
                                2009-10    2010-11     2011-12     2012-13    2013-14      2014-15

 LIABILITIES

 SHAREHOLDERS FUNDS
 1. Capital                       300.00      300.00     300.00      300.00       300.00     300.00
 2. Reserves- General               0.00        0.00       0.00        0.00         0.00       0.00
 3. Reserves- Others                0.00        0.00       0.00        0.00         0.00       0.00
 4. Revaluation Reserves            0.00        0.00       0.00        0.00         0.00       0.00
 5. P & L Account (Profit)        244.86      480.41     694.73      844.30      1026.48    1188.31

  Sub total                       544.86      780.41     994.73     1144.30      1326.48    1488.31

 TERM LIABILITIES
 6. Term Loans - Banks                 0           0           0          0            0          0
 7. Term Loans - FI                 0.00        0.00        0.00       0.00         0.00       0.00
 8. Deposits payable after 1        0.00        0.00        0.00       0.00         0.00       0.00
 9. Deferred Payment Credits        0.00        0.00        0.00       0.00         0.00       0.00
 10. Advances from Dealers             0           0           0          0            0          0
 11. Term Deposits                  0.00        0.00        0.00       0.00         0.00       0.00
 12. Debentures                     0.00        0.00        0.00       0.00         0.00       0.00
 13. Other Term Liabilities         0.00        0.00        0.00       0.00         0.00       0.00

  Sub Total                         0.00        0.00        0.00       0.00         0.00       0.00

 CURRENT LIABILITIES
 14. Bank Borrowings             1200.00     1200.00    1200.00     1200.00      1200.00    1200.00
 15. Borrowings -Associate Co          0           0          0           0            0          0
                 -Direc                0           0          0           0            0          0
                 -Other             0.00        0.00       0.00        0.00         0.00       0.00
 16. Deposits from Dealers          0.00        0.00       0.00        0.00         0.00       0.00
 17. Advance Payment from dea          0           0          0           0            0          0
 18. Creditors - for goods          0.00        0.00       0.00        0.00         0.00       0.00
              - Others                 0           0          0           0            0          0
 19. Provisions - for Tax           0.00        0.00       0.00        0.00         0.00       0.00
                - for D                0           0          0           0            0          0
                - Other             0.00        0.00       0.00        0.00         0.00       0.00
 20. Interest payable                  0           0          0           0            0          0
 21. Other Current Liabilitie      25.00       25.00      25.00       25.00        25.00      25.00

 Sub Total                       1225.00     1225.00    1225.00     1225.00      1225.00    1225.00

 TOTAL LIABILITIES               1769.86     2005.41    2219.73     2369.30      2551.48    2713.31



                                                                                           Page 15
                                      Appendix

For Bank of Baroda
SSE

 ANALYSIS OF BALANCE SHEET

[Rs.in lacs]                     Proj.      Proj.       Proj.       Proj.      Proj.        Proj.
                                 2009-10    2010-11     2011-12     2012-13    2013-14      2014-15

 ASSETS

 FIXED ASSETS
 Gross Block                        28.70       28.70       28.70      28.70        28.70      28.70
 Less: Depreciation                  7.08       12.19       15.95      18.75        20.87      22.49
 Net Block                          21.62       16.51       12.75       9.95         7.83       6.21
 Capital Work in Process                0           0           0          0            0          0
 Advances for Capital goods             0           0           0          0            0          0
 Sub Total                          21.62       16.51       12.75       9.95         7.83       6.21

 Investment in Other Companies       0.00        0.00        0.00       0.00         0.00       0.00
 Deferred Receivables                0.00        0.00        0.00       0.00         0.00       0.00
 Goodwill/Misc.Expenses not wr       0.00        0.00        0.00       0.00         0.00       0.00
 P & L Account (Loss)                0.00        0.00        0.00       0.00            0          0
 Other Non Current Assets            0.00        0.00        0.00       0.00         0.00       0.00

 Sub Total                           0.00        0.00        0.00       0.00         0.00       0.00

 CURRENT ASSETS
 Raw Material -Imported              0.00        0.00       0.00        0.00         0.00       0.00
 Raw Material -Indigenous            0.00        0.00       0.00        0.00         0.00       0.00
 Work in Process                     0.00        0.00       0.00        0.00         0.00       0.00
 Finished Goods                    329.06      351.00     360.89      370.77       380.66     390.54
 Stores & Spares                     0.00        0.00       0.00        0.00         0.00       0.00
 Debtors(less than 6 months)
  - Exports                        987.19     1053.00    1082.66     1112.31      1141.97    1171.63
  - Others                           0.00        0.00       0.00        0.00         0.00       0.00
 Debtors (more than 6 months)
  - Exports                          0.00        0.00        0.00       0.00         0.00       0.00
  - Others                           0.00        0.00        0.00       0.00         0.00       0.00
 Loans and Advances
   -Associate Companies              0.00        0.00       0.00        0.00         0.00       0.00
   -Others                           0.00        0.00       0.00        0.00         0.00       0.00
 Advances to Suppliers               0.00        0.00       0.00        0.00         0.00       0.00
 Deposits                            0.00        0.00       0.00        0.00         0.00       0.00
 Cash & Bank balances              401.99      554.90     733.43      846.27       991.02    1114.94
 Other Current Assets               30.00       30.00      30.00       30.00        30.00      30.00

 Sub Total                        1748.24     1988.90    2206.98     2359.35      2543.65    2707.11

 GRAND TOTAL                      1769.86     2005.41    2219.73     2369.30      2551.48    2713.32



                                                                                            Page 16
                                          Appendix


For Bank of Baroda
SSE

   WORKING CAPITAL ASSESSMENT

                                      Proj.      Proj.        Proj.       Proj.       Proj.          Proj.
                                      2009-10    2010-11      2011-12     2012-13     2013-14        2014-15

  A. HOLDING LEVELS: [In MONTHS]

  Raw Materials - Imported            #DIV/0!     #DIV/0!      #DIV/0!    #DIV/0!      #DIV/0!       #DIV/0!

  Raw Materials - Indigenous              0.00        0.00         0.00       0.00          0.00        0.00

  Raw Materials -Total                    0.00        0.00         0.00       0.00          0.00        0.00

  Semi-finished goods                     0.00        0.00         0.00       0.00          0.00        0.00

  Finished Goods                        (1.34)       (1.31)      (1.29)      (1.25)        (1.27)      (1.25)

  Stores and spares - Imported        #DIV/0!     #DIV/0!      #DIV/0!    #DIV/0!      #DIV/0!       #DIV/0!
  Stores and spares - Indigenous         0.00         0.00         0.00      0.00          0.00         0.00
  Stores and spares [% of total raw
 materials]                           #DIV/0!     #DIV/0!      #DIV/0!    #DIV/0!      #DIV/0!       #DIV/0!

  Receivables - Inland                #DIV/0!     #DIV/0!      #DIV/0!    #DIV/0!      #DIV/0!       #DIV/0!

         - Export                       (3.00)       (3.00)      (3.00)      (3.00)        (3.00)      (3.00)

  Creditors                                           0.00         0.00       0.00          0.00        0.00

 Other Current Assets/Total CA [%]     24.71%      29.41%       34.59%     37.14%        40.14%       42.29%
 Other Current Liab./ WCG [%]           1.45%       1.27%        1.15%      1.07%         0.99%        0.93%




                                                                                                    Page 17
                                         Appendix


For Bank of Baroda
SSE

 WORKING CAPITAL ASSESSMENT
                                     Proj.      Proj.       Proj.      Proj.      Proj.         Proj.
[Rs.in lacs]                         2009-10    2010-11     2011-12    2012-13    2013-14       2014-15
 B. COMPUTATION OF MPBF

 GROSS SALES                          3948.76    4212.00     4330.63    4449.25      4567.88    4686.50
 NET SALES - INLAND                      0.00       0.00        0.00       0.00         0.00       0.00
      - EXPORT                        3948.76    4212.00     4330.63    4449.25      4567.88    4686.50

 RAW MATERIALS CONSUMED -
IMPORTED                                 0.00       0.00        0.00       0.00         0.00       0.00
           - INDIGENOUS               2848.05    2759.20     2842.80    3003.40      3010.00    3093.60
 STORES AND SPARES CONSUMED            348.75     390.60      426.69     465.39       506.88     551.37

 COST OF PRODUCTION                   3275.49    3233.00     3357.72    3562.93      3617.72    3753.24

 COST OF SALES                        2946.43    3211.06     3347.83    3553.05      3607.83    3743.36

 NET WORKING CAPITAL                   523.24     763.90      981.98    1134.35      1318.65    1482.10



RAW MATERIALS - IMPORTED                 0.00        0.00       0.00       0.00         0.00       0.00
      -INDIGENOUS                        0.00        0.00       0.00       0.00         0.00       0.00
WORK IN PROCESS                          0.00        0.00       0.00       0.00         0.00       0.00

 FINISHED GOODS                        329.06     351.00      360.89     370.77       380.66     390.54

 STORES AND SPARES                       0.00        0.00       0.00       0.00         0.00       0.00

 RECEIVABLES - INLAND                    0.00       0.00        0.00       0.00         0.00       0.00
      - EXPORT                         987.19    1053.00     1082.66    1112.31      1141.97    1171.63
 OTHER CURRENT ASSETS                  431.99     584.90      763.43     876.27      1021.02    1144.94

 TOTAL CURRENT ASSETS                 1748.24    1988.90     2206.98    2359.35      2543.65    2707.11

 SUNDRY CREDITORS                        0.00        0.00       0.00       0.00         0.00       0.00
 OTHER CURRENT LIABILITIES              25.00       25.00      25.00      25.00        25.00      25.00
 TOTAL CURRENT LIABILITIES              25.00       25.00      25.00      25.00        25.00      25.00

WORKING CAPITAL GAP                   1723.24    1963.90     2181.98    2334.35      2518.65    2682.11

 25% OF CURRENT ASSETS (OTHER THAN     190.26     233.98      281.08     311.76       350.42     383.87
 EXPORT RECEIVABLES)
 ACTUAL/PROJ. NET WORKING CAPITAL      523.24     763.90      981.98    1134.35      1318.65    1482.10

 M P B F                              1200.00    1200.00     1200.00    1200.00      1200.00    1200.01
 ACTUAL/PROJECTED BANK
BORROWINGS                            1200.00    1200.00     1200.00    1200.00      1200.00    1200.00
                                                                                               Page 18
                                                    Appendix

       EXCESS FINANCE, IF ANY                             0         0.00          0.00         0.00              0             0


For Bank of Baroda
SSE



FUNDS FLOW STATEMENT

                                              Proj.           Proj.        Proj.       Proj.        Proj.
[Rs.in lacs]                                  2010-11         2011-12      2012-13     2013-14      2014-15

 1.          SOURCES
      a) Net profit (before tax)                547.00          514.34       414.73       464.89       433.58
      b) Depreciation                             5.11            3.76         2.80         2.12         1.62
      c) Increase in Capital                      0.00            0.00         0.00         0.00         0.00
      d) Increase in Term Liabilities             0.00            0.00         0.00         0.00         0.00
         (incldg. Public deposits)
      e) Decrease in
         i) Fixed Assets                         (0.00)           0.00         0.00         4.24         3.24
        ii) Other non-current assets               0.00           0.00         0.00         0.00         0.00
      f) Others: Increase in Reserves              0.00           0.00         0.00         0.00         0.00
      g) Decrease in intangible assets             0.00           0.00         0.00         0.00         0.00
      h) T O T A L                              552.11          518.10       417.53       471.25       438.44

 2.          USES
   a) Net Loss                                    0.00            0.00         0.00         0.00         0.00
   a) Decrease in Reserves                        0.00            0.00         0.00         0.00         0.00
   b) Decrease in Term Liabilities                0.00            0.00         0.00         0.00         0.00
       (incldg. public deposits)
   c) Increase in:
      I) Fixed Assets                              0.00            0.00        0.00          0.00         0.00
     II) Other non current assets                  0.00            0.00        0.00          0.00         0.00
   d) Dividend payments                          120.00          120.00      120.00        120.00       120.00
   e) Others: Increase in Intangible assets        0.00            0.00        0.00          0.00         0.00
   f) Income tax                                 191.45          180.02      145.16        162.71       151.75
   g) T O T A L                                  311.45          300.02      265.16        282.71       271.75
 3. Long Term Surplus (+)/Deficit(-) (1-2)       240.66          218.08      152.37        188.54       166.69
 4. Increase/decrease in current assets        (240.66)        (218.08)    (152.38)      (184.30)     (163.46)
   *(as per details given below)
 5. Increase/decrease in current liabi-           0.00            0.00         0.00         0.00         0.00
   lities other than Bank borrowings
 6. Increase/decrease in working capita         240.66          218.08       152.38       184.30       163.46
 7. Net surplus (+)/deficit (-) (Diffe-           0.00            0.00        (0.01)        4.24         3.24
   rence of 3 & 6)
 8. Increase/(decrease) in Bank borrowing         0.00            0.00         0.00         0.00         0.00

 SHORT TERM SOURCE                                 0.00            0.00        0.00          0.00         0.00
 SHORT TERM USE                                  240.66          218.08      152.38        184.30       163.46
 SHORT TERM ( SURPLUS) /DEFICIT                (240.66)        (218.08)    (152.38)      (184.30)     (163.46)


                                                                                                                     Page 19
                                                   Appendix




For Bank of Baroda

SSE
 ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FUNDS FLOW STATEMENT

                                            Proj.        Proj.       Proj.       Proj.      Proj.
   (Break up of 4)*                         2010-11      2011-12     2012-13     2013-14    2014-15


  (Increase)/Decrease in Raw materials           0.00        0.00        0.00        0.00       0.00

  (Increase)/Decrease in Stock-in-process        0.00        0.00        0.00        0.00       0.00

  (Increase)/Decrease in Finished goods        (21.94)      (9.89)      (9.88)     (9.89)      (9.88)

  (Increase)/Decrease in Receivables           (65.81)     (29.66)     (29.66)    (29.66)     (29.66)
    a) Domestic                                   0.00        0.00        0.00       0.00        0.00
    b) Export                                  (65.81)     (29.66)     (29.66)    (29.66)     (29.66)
  (Increase)/Decrease in Stores & spares          0.00        0.00        0.00       0.00        0.00

  (Increase)/Decrease in other current
assets                                       (152.91)     (178.53)   (112.84)    (144.75)   (123.92)

  Increase/(Decrease) in Bank borrowings          0.00       0.00        0.00        0.00       0.00
  Increase/(Decrease) in Sundry Creditors -Trade             0.00        0.00        0.00       0.00    0.00
  Increase/(Decrease) in Other Current Liab.[ex.Bank
Borr.]                                                       0.00        0.00       0.00        0.00    0.00
SHORT TERM SOURCE                                 0.00       0.00        0.00       0.00        0.00
SHORT TERM USE                                  240.66     218.08      152.38     184.30      163.46

 NOTE:
  Increase/decrease under items 4 to
  as also under break-up of (4) shoul
  be included by (+) (-).


Increase in Capital [company]                    0.00        0.00        0.00        0.00       0.00
Increase in Capital [Others]                  -120.00     -120.00     -120.00     -120.00    -120.00
Increase in Reserves[company]                    0.00        0.00        0.00        0.00       0.00
Decrease in Reserves [company]                   0.00        0.00        0.00        0.00       0.00

Increase in Capital                              0.00        0.00        0.00        0.00       0.00




                                                                                                           Page 20
                                                Appendix


For Bank of Baroda
SSE

 SELECT FINANCIAL INDICATORS
                                            Proj.      Proj.      Proj.      Proj.     Proj.
[Rs.in lacs]                                2009-10    2010-11    2011-12    2012-13   2014-15

 Capital                                      300.00     300.00     300.00    300.00     300.00
 Reserves and Surplus                         244.86     480.41     694.73    844.30    1188.31
 Accumulated losses                                0          0          0         0          0
 Tangible Net Worth                           544.86     780.41     994.73   1144.30    1488.31
 Net Working Capital                          523.24     763.90     981.98   1134.35    1482.10
 Current Ratio                                  1.43       1.62       1.80      1.93       2.21
 Net Sales                                   3948.76    4212.00    4330.63   4449.25    4686.50
 Operating Profit                             556.53     542.06     509.25    409.49     428.02
 Other Income                                   4.80       4.94       5.09      5.24       5.56
 Profit Before Tax                            561.33     547.00     514.34    414.73     433.58
 Profit After Tax                             364.86     355.55     334.32    269.57     281.83
 Depreciation                                   7.08       5.11       3.76      2.80       1.62
 Operating Profit : Net Sales                14.09%     12.87%     11.76%     9.20%      9.13%
 Profit Before Tax: Net Sales                14.22%     12.99%     11.88%     9.32%      9.25%
 Profit After Tax: Net Sales                  9.24%      8.44%      7.72%     6.06%      6.01%
 Bank Borrowings: Net Sales (%               30.39%     28.49%     27.71%    26.97%     25.61%
 Total Outside Liab.:Tangible Net Worth         2.25       1.57       1.23      1.07       0.82
 Debt: Equity                                   0.00       0.00       0.00      0.00       0.00
 PBIDT                                        769.41     753.11     719.10    618.53     636.20
 PBIDT/ Net Sales [%]                        19.48%     17.88%     16.60%    13.90%     13.58%
 Raw material consumption/Net Sales[%]       72.13%     65.51%     65.64%    67.50%     66.01%
 Employee cost/Net Sales [%]                  1.66%      1.70%      1.79%     1.89%      2.11%
 Factory Overheads/Net Sales [%]              8.99%      9.43%     10.01%    10.62%     11.94%
 Cost of Production/Net Sales [%]            82.95%     76.76%     77.53%    80.08%     80.09%
 Cost of Sales/Net Sales [%]                 74.62%     76.24%     77.31%    79.86%     79.88%
 Selling & Admn.overheads/Net Sales[%]        6.20%      6.12%      6.29%     6.42%      6.70%
 Bank borrowings/ Total Current Assets[%]    68.64%     60.33%     54.37%    50.86%     44.33%
 [Inventories+Receivables]/Bank
borrowings                                  109.69%    117.00%    120.30%    123.59%   130.18%
 [Inventories+Receivables]/Total CA          75.29%     70.59%     65.41%     62.86%    57.71%




                                                                                                  Page 21
 Appendix




 Graphs

Based on

CMA Data




            Page 22
Appendix




           Page 23
Appendix




           Page 24
Appendix




           Page 25
Appendix




           Page 26
         Appendix




Workings and Assumptions

           for

  Financial Projections




                           Page 27
                                                  Appendix


PROJECTED PROFIT & LOSS ACCOUNT
                                                                                   AMOUNT/RS. IN LACS

PARTICULARS/YEAR                    2009-10    2010-11     2011-12     2012-13     2013-14     2014-15


INCOME
Sales                                3948.76     4212.00     4330.63     4449.25     4567.88      4686.50
Other Income                            4.80        4.94        5.09        5.24        5.40         5.56
Variation in Stock                    329.06       21.94        9.89        9.88        9.89         9.88
TOTAL                                4282.62     4238.88     4345.61     4464.37     4583.17      4701.94

EXPENSES

Consumption                          2848.05     2759.20     2842.80     3003.40     3010.00      3093.60
Packaging, Forwarding and
Freight                               348.75      390.60      426.69      465.39      506.88       551.37
Rent, rates & taxes                    13.20       14.70       17.20       17.60       18.04        18.52
Salaries & Wages                       65.37       71.53       77.59       84.09       91.10        98.66
Other Manufacturing Expenses            6.24        6.56        6.88        7.25        7.62         7.99
Administrative Expenses                15.60       16.38       17.20       18.06       18.96        19.91
Selling Expenses                      216.00      226.80      238.15      250.05      262.56       275.69


 TOTAL                               3513.21     3485.77     3626.51     3845.84     3915.16      4065.74

EBITD                                 769.41      753.11      719.10      618.53      668.01       636.20


Interest & Bank Charges
  On FLC Discounting                  112.50      112.50      112.50      112.50      112.50       112.50
  On working Capital EPC               88.50       88.50       88.50       88.50       88.50        88.50
Depreciation                            7.08        5.11        3.76        2.80        2.12         1.62
SUB TOTAL                             208.08      206.11      204.76      203.80      203.12       202.62

PROFIT BEFORE TAX                     561.33      547.00      514.34      414.73      464.89       433.58
Less: Provision for Taxation incl
FBT                                   196.47      191.45      180.02      145.16      162.71       151.75
PROFIT AFTER TAX                      364.86      355.55      334.32      269.57      302.18       281.83

Add: Profit Brought Forward                       244.86      480.41      694.73      844.30      1026.48

Transfer to General Reserve
Dividend/Drawing                      120.00      120.00      120.00      120.00      120.00       120.00
Dividend Tax@12.5%                      0.00        0.00        0.00        0.00        0.00         0.00

NET PROFIT CARRIED OVER               244.86      480.41      694.73      844.30     1026.48      1188.31

PROFIT AFTER TAX                      364.86      355.55      334.32      269.57      302.18       281.83
ADD:depreciation                        7.08        5.11        3.76        2.80        2.12         1.62
OPERATING INFLOW                      371.94      360.66      338.08      272.37      304.30       283.45


                                                                                                     Page 28
                                           Appendix


PROJECTED BALANCE SHEET

                                                                            AMOUNT/RS. IN LACS

PARTICULARS/YEAR             2009-10    2010-11     2011-12     2012-13     2013-14     2014-15

LIABILITIES

Share Capital                  300.00      300.00      300.00      300.00      300.00       300.00
Reserves & Surplus               0.00        0.00        0.00        0.00        0.00         0.00
Profit & Loss Account          244.86      480.41      694.73      844.30     1026.48      1188.31

FLC Discounting                600.00      600.00      600.00      600.00      600.00       600.00
Working Capital Loan - EPC     600.00      600.00      600.00      600.00      600.00       600.00
Other Loans                      0.00        0.00        0.00        0.00        0.00         0.00
Current Liabilities             25.00       25.00       25.00       25.00       25.00        25.00

  TOTAL                       1769.86     2005.41     2219.73     2369.30     2551.48      2713.31

ASSETS                        1769.86     2005.41     2219.73     2369.30     2551.48      2713.31

FIXED ASSETS
Gross Block                     28.70       28.70       28.70       28.70       28.70        28.70
Depreciation                     7.08       12.19       15.95       18.75       20.87        22.49
Net Block                       21.62       16.51       12.75        9.95        7.83         6.21

CURRENT ASSETS
Investments                      0.00        0.00        0.00        0.00        0.00         0.00
Raw Materials-21 DAYS            0.00        0.00        0.00        0.00        0.00         0.00
Finished Goods-30 DAYS         329.06      351.00      360.89      370.77      380.66       390.54
Work In Progress-7 DAYS          0.00        0.00        0.00        0.00        0.00         0.00
Sundry Debtors- 90 days        987.19     1053.00     1082.66     1112.31     1141.97      1171.63
Other Current Assets            30.00       30.00       30.00       30.00       30.00        30.00
Cash & Bank Balances           401.99      554.90      733.43      846.27      991.02      1114.94

   TOTAL                      1769.86     2005.41     2219.73     2369.30     2551.48      2713.32
                                 0.00        0.00        0.00        0.00        0.00         0.00




                                                                                              Page 29
                                                     Appendix



PROJECTED FUND FLOW STATEMENT

                                                                                        AMOUNT/RS. IN LACS

PARTICULARS/YEAR                    2009-10       2010-11       2011-12     2012-13     2013-14     2014-15

SOURCES

Inc. in share Capital                 300.00           0.00          0.00        0.00        0.00         0.00
Profit before interest& tax           642.33         748.00        715.34      615.73      665.89       634.57
   & dividend
Depreciation & Intangiable W/offs       7.08           5.11          3.76        2.80        2.12         1.62
Inc. in Loan                          600.00           0.00          0.00        0.00        0.00         0.00
Inc. in Working capital loan          600.00           0.00          0.00        0.00        0.00         0.00
Inc. in other loan                      0.00           0.00          0.00        0.00        0.00         0.00
Inc. in Sundry Creditors               25.00           0.00          0.00        0.00        0.00         0.00

TOTAL                                2174.41         753.11        719.10      618.53      668.01       636.19
                                     1769.86         355.55
APPLICATIONS
Inc. in Fixed Assets                   28.70           0.00          0.00        0.00        0.00         0.00
Inc. in Raw Materials                   0.00           0.00          0.00        0.00        0.00         0.00
Inc. in Finished Goods                329.06          21.94          9.89        9.88        9.89         9.88
Inc. in work in progress                0.00           0.00          0.00        0.00        0.00         0.00
Inc. in debtors                       987.19          65.81         29.66       29.66       29.66        29.66
Inc. in other current assets           30.00           0.00          0.00        0.00        0.00         0.00
Payment of Tax                        196.47         191.45        180.02      145.16      162.71       151.75
Investments                             0.00         120.00        120.00      120.00      120.00       120.00
Payment of Interest                   201.00         201.00        201.00      201.00      201.00       201.00
Repayment of Loan Against FD            0.00
Repayment of Tax Loans
Repayment of Term Loan                        0             0                    0.00        0.00         0.00

   TOTAL                             1772.42         600.20        540.57      505.70      523.26       512.29

SURPLUS                               401.99         152.91        178.53      112.83      144.75       123.91

OPENING BANK BALANCE                          0      401.99        554.90      733.43      846.27       991.02

CLOSING BANK BALANCE                  401.99         554.90        733.43      846.27      991.02      1114.93

                                      401.99         554.90        733.43      846.27      991.02      1114.94
                                        0.00           0.00          0.00        0.00        0.00        -0.01




                                                                                                          Page 30
                                            Appendix




CALCULATION OF DEBT SERVICE COVERAGE RATIO

                                                                             AMOUNT/RS. IN LACS

PARTICULARS/YEAR             2009-10     2010-11     2011-12     2012-13     2013-14     2014-15

PROFIT AFTER TAX               364.86       355.55      334.32      269.57      302.18       281.83
DEPRECIATION                     7.08         5.11        3.76        2.80        2.12         1.62
TERM LOAN INTEREST             201.00       201.00      201.00      201.00      201.00       201.00

    TOTAL ( A)                 572.94       561.66      539.08      473.37      505.30       484.45

TERM LOAN INTEREST             201.00       201.00      201.00      201.00      201.00       201.00
TERM LOAN REPAYMENT                 0            0           0           0           0            0

    TOTAL ( B)                 201.00       201.00      201.00      201.00      201.00       201.00

DSCR A/B                          2.85        2.79        2.68        2.36        2.51         2.41

AVERAGE DSCR                                           2002.20
                                                                      2.49
                                                        804.00




CALCULATION OF INCOME
TAX

                                                                             AMOUNT/RS. IN LACS

PARTICULARS/YEAR             2009-10     2010-11     2011-12     2012-13     2013-14     2014-15

Profit before tax              561.33       547.00      514.34      414.73      464.89       433.58
ADD: Depn. As per Co's Act       7.08         5.11        3.76        2.80        2.12         1.62
                               568.41       552.11      518.10      417.53      467.01       435.20
LESS: Depn as per IT Act         6.36         3.85        2.68        2.07        1.70         1.45
Taxable Income                 562.05       548.26      515.42      415.46      465.31       433.75

Income Tax @ 30+SC @ 10%       189.19       184.54      173.49      139.84      156.62       146.00




                                                                                               Page 31
                                         Appendix


                                                             ELEC.
   CALCULATION OF COST                BUILDING      P&M      INST

Estimates                               140.00       70.00     25.00
Contingencies                            10.00        5.00
Existing                                101.64      351.33     29.20
Interest                                  0.00        0.00      0.00

Total Cost for Depreciation             251.64      426.33     54.20

Total As Above                                                732.17
Land                                                          200.00
Furniture                                                      40.24
Vehicle                                                        47.04

Total Gross Block for Balance Sheet                          1019.45




Sources of Project Finance
Mony Brought in by Promoters                                   10.00
Money to be Brought in by Promoters                          -405.52
Term Loan                                                      15.00
Internal Accruals 2003-04                                     360.66
Internal Accruals 04-05 - 25%                                  84.52
Deferred Creditors                                             10.34

Total Project Cost                                             75.00




                                                                       Page 32
                                                Appendix



Estimated sales per annum ( qty in Tons)

                         2009-     2010-
        Particulars      10        11        2011-12   2012-13   2013-14   2014-15

Products Exported
Chilli Powder                150       160       170       180       190       200
Turmeric Powder              150       160       170       180       190       200
Corriander Seeds             150       160       170       180       190       200
Basmathi Rice                225       240       250       260       270       280
Coffee Powder                150       160       170       180       190       200
Tea Powder                   150       160       170       180       190       200
Rice Flour                   150       160       170       180       190       200
Idly Rawa Powder             150       160       170       180       190       200
Green Gram Powder             75        80        80        80        80        80
Pure Ghee                     75        80        80        80        80        80
Sambar Powder                 75        80        80        80        80        80
Briyani Masala                75        80        80        80        80        80
Chicken Masala                75        80        80        80        80        80
Fish Curry Masala             75        80        80        80        80        80
Fish Fry Masala               75        80        80        80        80        80
Chicken Fry Masala            75        80        80        80        80        80
Chicken 555 Masala            75        80        80        80        80        80
Rasa powder Masala            75        80        80        80        80        80
Porridge (Rice)              150       160       170       180       190       200
Snack Powder Masala          150       160       170       180       190       200

Total                       2325      2480      2580      2680      2780      2880




                                                                                     Page 33
                                                Appendix


Estimated sales per annum ( Rates in Singapore Dollars per kg)
                           Conversion 1 Singapore $ =    Rs. 32.50
       Particulars         2009-10 2010-11 2011-12 2012-13           2013-14   2014-15

Products Exported
Chilli Powder                  4.00     4.00      4.00       4.00       4.00      4.00
Turmeric Powder                4.00     4.00      4.00       4.00       4.00      4.00
Corriander Seeds               2.50     2.50      2.50       2.50       2.50      2.50
Basmathi Rice                  5.00     5.00      5.00       5.00       5.00      5.00
Coffee Powder                  4.00     4.00      4.00       4.00       4.00      4.00
Tea Powder                     1.00     1.00      1.00       1.00       1.00      1.00
Rice Flour                     2.00     2.00      2.00       2.00       2.00      2.00
Idly Rawa Powder               2.00     2.00      2.00       2.00       2.00      2.00
Green Gram Powder              8.00     8.00      8.00       8.00       8.00      8.00
Pure Ghee                      8.00     8.00      8.00       8.00       8.00      8.00
Sambar Powder                 10.00    10.00     10.00      10.00      10.00     10.00
Briyani Masala                 8.00     8.00      8.00       8.00       8.00      8.00
Chicken Masala                 8.00     8.00      8.00       8.00       8.00      8.00
Fish Curry Masala              8.00     8.00      8.00       8.00       8.00      8.00
Fish Fry Masala                8.00     8.00      8.00       8.00       8.00      8.00
Chicken Fry Masala             8.00     8.00      8.00       8.00       8.00      8.00
Chicken 555 Masala             8.00     8.00      8.00       8.00       8.00      8.00
Rasa powder Masala            10.00    10.00     10.00      10.00      10.00     10.00
Porridge (Rice)                6.00     6.00      6.00       6.00       6.00      6.00
Snack Powder Masala            6.00     6.00      6.00       6.00       6.00      6.00




                                                                                         Page 34
                                                Appendix


Estimated Cost of Consumption in Tonnes

                        2009-       2010-
        Particulars     10          11       2011-12   2012-13   2013-14   2014-15

Products Exported       Opening Stock

Chilli Powder                   0       10        10        10        20        20
Turmeric Powder                 0       10        10        10        20        20
Corriander Seeds                0       10        10        10        20        20
Basmathi Rice                   0       20        20        20        20        20
Coffee Powder                   0       10        10        10        20        20
Tea Powder                      0       10        10        10        20        20
Rice Flour                      0       10        10        10        20        20
Idly Rawa Powder                0       10        10        10        20        20
Green Gram Powder               0       10        10        10        10        10
Pure Ghee                       0       10        10        10        10        10
Sambar Powder                   0       10        10        10        10        10
Briyani Masala                  0       10        10        10        10        10
Chicken Masala                  0       10        10        10        10        10
Fish Curry Masala               0       10        10        10        10        10
Fish Fry Masala                 0       10        10        10        10        10
Chicken Fry Masala              0       10        10        10        10        10
Chicken 555 Masala              0       10        10        10        10        10
Rasa powder Masala              0       10        10        10        10        10
Porridge (Rice)                 0       10        10        10        20        20
Snack Powder Masala             0       10        10        10        20        20

Total                           0      210       210       210       300       300

                        2009-       2010-
        Particulars     10          11       2011-12   2012-13   2013-14   2014-15

Products Exported       Sales

Chilli Powder               150        160       170       180       190       200
Turmeric Powder             150        160       170       180       190       200
Corriander Seeds            150        160       170       180       190       200
Basmathi Rice               225        240       250       260       270       280
Coffee Powder               150        160       170       180       190       200
Tea Powder                  150        160       170       180       190       200
Rice Flour                  150        160       170       180       190       200
Idly Rawa Powder            150        160       170       180       190       200
Green Gram Powder            75         80        80        80        80        80
Pure Ghee                    75         80        80        80        80        80
Sambar Powder                75         80        80        80        80        80
Briyani Masala               75         80        80        80        80        80
Chicken Masala               75         80        80        80        80        80
Fish Curry Masala            75         80        80        80        80        80
Fish Fry Masala              75         80        80        80        80        80
Chicken Fry Masala           75         80        80        80        80        80
Chicken 555 Masala           75         80        80        80        80        80

                                                                                     Page 35
                                              Appendix

Rasa powder Masala        75        80          80        80        80        80
Porridge (Rice)          150       160         170       180       190       200
Snack Powder Masala      150       160         170       180       190       200

Total                   2325      2480        2580      2680      2780      2880

                      2009-    2010-
        Particulars   10       11          2011-12   2012-13   2013-14   2014-15

Products Exported     Closing Stock

Chilli Powder             10          10        10        20        20        20
Turmeric Powder           10          10        10        20        20        20
Corriander Seeds          10          10        10        20        20        20
Basmathi Rice             20          20        20        20        20        20
Coffee Powder             10          10        10        20        20        20
Tea Powder                10          10        10        20        20        20
Rice Flour                10          10        10        20        20        20
Idly Rawa Powder          10          10        10        20        20        20
Green Gram Powder         10          10        10        10        10        10
Pure Ghee                 10          10        10        10        10        10
Sambar Powder             10          10        10        10        10        10
Briyani Masala            10          10        10        10        10        10
Chicken Masala            10          10        10        10        10        10
Fish Curry Masala         10          10        10        10        10        10
Fish Fry Masala           10          10        10        10        10        10
Chicken Fry Masala        10          10        10        10        10        10
Chicken 555 Masala        10          10        10        10        10        10
Rasa powder Masala        10          10        10        10        10        10
Porridge (Rice)           10          10        10        20        20        20
Snack Powder Masala       10          10        10        20        20        20

Total                    210       210         210       300       300       300

                      2009-    2010-
        Particulars   10       11          2011-12   2012-13   2013-14   2014-15

Products Exported     Purchase Price Per kg

Chilli Powder             88        88          88        88        88        88
Turmeric Powder           66        66          66        66        66        66
Corriander Seeds          88        88          88        88        88        88
Basmathi Rice             66        66          66        66        66        66
Coffee Powder            132       132         132       132       132       132
Tea Powder                88        88          88        88        88        88
Rice Flour                22        22          22        22        22        22
Idly Rawa Powder          22        22          22        22        22        22
Green Gram Powder         50        50          50        50        50        50
Pure Ghee                165       165         165       165       165       165
Sambar Powder            220       220         220       220       220       220
Briyani Masala           176       176         176       176       176       176
Chicken Masala           176       176         176       176       176       176
Fish Curry Masala        176       176         176       176       176       176

                                                                                   Page 36
                                                 Appendix

Fish Fry Masala             176         176       176       176       176       176
Chicken Fry Masala          176         176       176       176       176       176
Chicken 555 Masala          176         176       176       176       176       176
Rasa powder Masala          220         220       220       220       220       220
Porridge (Rice)             132         132       132       132       132       132
Snack Powder Masala         132         132       132       132       132       132



                        2009-      2010-
        Particulars     10         11         2011-12   2012-13   2013-14   2014-15

Products Exported - Purchase Quantity

Chilli Powder               160         160       170       190       190       200
Turmeric Powder             160         160       170       190       190       200
Corriander Seeds            160         160       170       190       190       200
Basmathi Rice               245         240       250       260       270       280
Coffee Powder               160         160       170       190       190       200
Tea Powder                  160         160       170       190       190       200
Rice Flour                  160         160       170       190       190       200
Idly Rawa Powder            160         160       170       190       190       200
Green Gram Powder            85          80        80        80        80        80
Pure Ghee                    85          80        80        80        80        80
Sambar Powder                85          80        80        80        80        80
Briyani Masala               85          80        80        80        80        80
Chicken Masala               85          80        80        80        80        80
Fish Curry Masala            85          80        80        80        80        80
Fish Fry Masala              85          80        80        80        80        80
Chicken Fry Masala           85          80        80        80        80        80
Chicken 555 Masala           85          80        80        80        80        80
Rasa powder Masala           85          80        80        80        80        80
Porridge (Rice)             160         160       170       190       190       200
Snack Powder Masala         160         160       170       190       190       200

Total                      2535      2480        2580      2770      2780      2880

                        2009-      2010-
        Particulars     10         11         2011-12   2012-13   2013-14   2014-15

Products Exported       Total Purchase Value

Chilli Powder             140.80   140.80      149.60    167.20    167.20    176.00
Turmeric Powder           105.60   105.60      112.20    125.40    125.40    132.00
Corriander Seeds          140.80   140.80      149.60    167.20    167.20    176.00
Basmathi Rice             161.70   158.40      165.00    171.60    178.20    184.80
Coffee Powder             211.20   211.20      224.40    250.80    250.80    264.00
Tea Powder                140.80   140.80      149.60    167.20    167.20    176.00
Rice Flour                 35.20    35.20       37.40     41.80     41.80     44.00
Idly Rawa Powder           35.20    35.20       37.40     41.80     41.80     44.00
Green Gram Powder          42.50    40.00       40.00     40.00     40.00     40.00
Pure Ghee                 140.25   132.00      132.00    132.00    132.00    132.00
Sambar Powder             187.00   176.00      176.00    176.00    176.00    176.00

                                                                                      Page 37
                                               Appendix

Briyani Masala         149.60   140.80     140.80    140.80    140.80    140.80
Chicken Masala         149.60   140.80     140.80    140.80    140.80    140.80
Fish Curry Masala      149.60   140.80     140.80    140.80    140.80    140.80
Fish Fry Masala        149.60   140.80     140.80    140.80    140.80    140.80
Chicken Fry Masala     149.60   140.80     140.80    140.80    140.80    140.80
Chicken 555 Masala     149.60   140.80     140.80    140.80    140.80    140.80
Rasa powder Masala     187.00   176.00     176.00    176.00    176.00    176.00
Porridge (Rice)        211.20   211.20     224.40    250.80    250.80    264.00
Snack Powder Masala    211.20   211.20     224.40    250.80    250.80    264.00

Total                 2848.05   2759.2     2842.8    3003.4      3010    3093.6

                      2009-     2010-
        Particulars   10        11        2011-12   2012-13   2013-14   2014-15

Products Exported     Value of Closing Stock

Chilli Powder            8.80      8.80      8.80     17.60     17.60     17.60
Turmeric Powder          6.60      6.60      6.60     13.20     13.20     13.20
Corriander Seeds         8.80      8.80      8.80     17.60     17.60     17.60
Basmathi Rice           13.20     13.20     13.20     13.20     13.20     13.20
Coffee Powder           13.20     13.20     13.20     26.40     26.40     26.40
Tea Powder               8.80      8.80      8.80     17.60     17.60     17.60
Rice Flour               2.20      2.20      2.20      4.40      4.40      4.40
Idly Rawa Powder         2.20      2.20      2.20      4.40      4.40      4.40
Green Gram Powder        5.00      5.00      5.00      5.00      5.00      5.00
Pure Ghee               16.50     16.50     16.50     16.50     16.50     16.50
Sambar Powder           22.00     22.00     22.00     22.00     22.00     22.00
Briyani Masala          17.60     17.60     17.60     17.60     17.60     17.60
Chicken Masala          17.60     17.60     17.60     17.60     17.60     17.60
Fish Curry Masala       17.60     17.60     17.60     17.60     17.60     17.60
Fish Fry Masala         17.60     17.60     17.60     17.60     17.60     17.60
Chicken Fry Masala      17.60     17.60     17.60     17.60     17.60     17.60
Chicken 555 Masala      17.60     17.60     17.60     17.60     17.60     17.60
Rasa powder Masala      22.00     22.00     22.00     22.00     22.00     22.00
Porridge (Rice)         13.20     13.20     13.20     26.40     26.40     26.40
Snack Powder Masala     13.20     13.20     13.20     26.40     26.40     26.40

Total                   261.3     261.3     261.3     338.3     338.3     338.3




                                                                                  Page 38
          Appendix




        Good Luck

        With Your

Project Finance Projections




                              Page 39

				
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