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000000M/s. R K Wind Limited, New Delhi 00000001/03/2011

SENSIVITY ANALYSIS

S. NO. PARTICULARS NORMAL

1 DSCR 3.44 1.89 2.01 1.297280

2 IRR - Pre Tax 21.56% 24.19% 25.10% 19.54%

3 IRR - Post Tax 16.41% 18.41% 19.36% 13.68%

REVENUE DOWN BY2.50 %

R M UP BY2.50 %

REVENUE DOWN AND R MUP BY 2.50 %

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COST OF PROJECT

Particulars TotalIncurred As On To be Incurred

March 31, 2010 Auguts 31, 2010 Total Sept., 2010 - March,2011

Land Cost for Plant,consultancy,site development 813.00 813.00 813.00 -

Factory Buildings 1,980.22 831.00 1,211.37 768.85 768.85

R&D Infrastructure 100.00 100.00 50.00

Other Drawings and Infrastructure 100.00 100.00 75.00

Technology for WTG 500.00 271.00 468.17 31.83 31.83

Technical Know How for Blade / Hub / Naceele 3,174.00 3,174.00 3,140.00

Equipment for Blade Mould 1,878.00 1,878.00 187.80

Equipment for Hub & Nacelle Mould 897.00 897.00 89.70

Other Equipment - Cranes, D G Set etc 300.00 1.21 2.47 297.53 29.75

PreOperative Expenses 241.15 90.48 91.15 150.00 120.00

Contingency 458.52 458.52

Commitment Charges 52.00 52.00 52.00

IDC 212.88 212.88 51.46

Working Capital Margin 2,806.70 2,806.70

Total 13,513.47 2,006.69 2,586.16 10,927.31 4,596.39

FACR (Excluding Technology & WC Margin) 1.35

FACR (As per PNB) 1.26

COST OF PROJECT

Particulars TotalIncurred As On To be Incurred

March 31, 2010 Auguts 31, 2010 Total Sept., 2010 - March,2011

Equity 8,313.47 2,094.23 3,476.68 4,836.79 96.39

Debt 5,200.00 - - 5,200.00 4,500.00Sundry Creditors / Advances - (87.54) (890.52) 890.52

Total 13,513.47 2,006.69 2,586.16 10,927.31 4,596.39

Deb Equity Ratio 0.63

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( Rs. in Lacs )

April - June, 2011

-

50.00

25.00

-

34.00

1,690.20

807.30

267.78

30.00

458.52

-

161.42

2,806.70

6,330.92

( Rs. in Lacs )

April - June, 2011

4,740.40

700.00890.52

6,330.92

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000000M/s. R K Wind Limited, New Delhi

ASSESMENT OF WORKING CAPITAL REQUIREMENT

OPERATING STATEMENT

1.00

PARTICULARS 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

Installed Capacity ( In Nos. ) 240 240 240 240 240

Production ( In Nos. ) 135 180 235 235 235

Work in Progress ( In Nos.) 8 8 10 10 10

Finished Good ( In Nos.) 5 5 6 6 6

Sale ( In Nos.) 123 180 232 235 235

1.Gross Receipt .( a ) Sales - Domestic 32,595.00 47,700.00 61,303.33 62,275.00 62,275.00

( b ) Sales - Exports - - - - -

( c ) Sales - O & M - - - 715.50 1,669.50

Total 32,595.00 47,700.00 61,303.33 62,990.50 63,944.50

2.Less Excise Duty - - - - -

3.Net Receipt(1-2) 32,595.00 47,700.00 61,303.33 62,990.50 63,944.50

4.Growth in Sales 46.34% 28.52% 2.75% 1.51%

5.Cost of Operations

(I) Raw Material

(Including stores & other items used in the process of manufacture)

1 a) Imported 12,876.25 15,451.50 20,566.23 20,172.79 20,172.79

b) Indigenous 19,314.37 23,177.25 30,849.35 30,259.19 30,259.19

Totalof Raw material 32,190.62 38,628.75 51,415.58 50,431.98 50,431.98

(II) Other Manufacturing Exp

a) Imported - - - - -

b) Indigenous 300.00 440.00 528.00 633.60 760.32

(III) Power and Water 375.00 550.00 605.00 665.50 732.05

(IV) Direct Labour 375.00 550.00 660.00 792.00 950.40

(V) O&M Cost - - - 357.75 834.75

(VI) Ins.for Generation Guarantee 162.98 238.50 306.52 314.95 319.72

(VII) Power Curve Guarantee 162.98 238.50 306.52 314.95 319.72

(IV) Royality WTG / Hub / Nacelle 180.00 180.00 180.00 180.00 180.00

(V) Repair & Maintenance 375.00 550.00 660.00 792.00 950.40

(VI) Depreciations 492.86 617.67 568.57 523.86 483.12

(VII) Sub total ( I to VI ) 34,614.43 41,993.42 55,230.19 55,006.60 55,962.46

Add : Opening Stock of Raw Material - 3,219.06 3,219.06 4,202.66 4,202.66

Dedcut: Closing stock of Raw Material 3,219.06 3,219.06 4,202.66 4,202.66 4,202.66

Sub Total 31,395.37 41,993.42 54,246.58 55,006.60 55,962.46

Add : Opening Stock in Progress - 1,609.53 1,609.53 2,101.33 2,101.33 Deduct:Closing Stock in Progress 1,609.53 1,609.53 2,101.33 2,101.33 2,101.33

Cost of Operations 29,785.84 41,993.42 53,754.78 55,006.60 55,962.46

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OPERATING STATEMENT

PARTICULARS 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

6.Selling General and Administrative Expenses 1,285.37 1,593.16 2,009.91 2,184.01 1,796.35

7.Sub Total (5+6) 30,105.50 43,586.58 55,469.61 57,190.61 57,758.81

8.Operating Profit before Intt (3-7) 2,489.50 4,113.42 5,833.73 5,799.89 6,185.69

9.Financial Charges

- Interest on Term Loan 503.62 594.88 486.72 378.56 270.

- Interest on Working Capital 607.50 810.00 810.00 810.00 810.

- Others 97.79 143.10 183.91 188.97 191.83

Sub Total 1,208.91 1,547.98 1,480.63 1,377.53 1,272.23

10.Operating Profit after Intt ( 8-9) 1,280.60 2,565.44 4,353.10 4,422.36 4,913.45

11.Other Non Operating Income : Intt on FDRs 98.00 98.00 98.00 98.00 98.00

12.Other Non Operating Expenses : PreOperative Exp 48.23 48.23 48.23 48.23 48.23

13.P.B.T/Loss (10+11-12) 1,330.37 2,615.21 4,402.87 4,472.13 4,963.22

14.PartnerS Salary - - - - -

15.Provison for Taxes - 471.57 1,255.74 1,358.82 1,580.41

Deferred Tax Liability

16.Net profit / Loss (13-14) 1,330.37 2,143.64 3,147.13 3,113.31 3,382.82

17.Dividend - - - - -

18.Retained Profit (15-16) 1,330.37 2,143.64 3,147.13 3,113.31 3,382.82

19.Retained Profit / Net Profit (%) 100% 100% 100% 100% 100%

20.Net profit %age to Receipts 4.08% 5.48% 7.18% 7.10% 7.76%

- 0.00 0.00 - -

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ANALYSIS OF BALANCE SHEET

FORM III

PARTICULARS 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

CURRENT LIABILITIES

1 a) Short Term Borrowings form Banks

(including bills purchased & excess borrowings

placed on repayment basis)

I) From Applicant Banks 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00

ii) From Other Banks. - - - - -

iii) (of which BP&BD) - - - - -

Sub Total (A) 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00

2. Short Term Borrowing from Others - - - - -

3. Sundry Creditors(Trade) 3,576.74 3,219.06 4,284.63 4,202.66 4,202.66

4. Advance payments from Customers / Deposits from Dealers - - - - -

5. Provison for Taxations (Net of Adv Tax)

6. Dividend Payable - - - - -

7. Other Statutory Liabilities Paybles. - - - - -

(Due within one year)

8. Deposits / Instalments of Other Term Loans / DPG / Debentures - - - - -

(Due within one year)9. Other Current Liabilities & Provisons 357.37 361.68 437.99 489.75 500.75


Sub Total (B) 3,934.11 3,580.74 4,722.63 4,692.42 4,703.41

10.TOTAL CURRENT LIABILITIES 9,934.11 9,580.74 10,722.63 10,692.42 10,703.41

(Sub total A+B)

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ANALYSIS OF BALANCE SHEET

FORM III

PARTICULARS 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

TERM LIABILITIES

11. Debentures (Not maturing within one year) - - - - -

12. Preference Shares (Repayble after one year) - - - - -

13. Term Loan ( Excluding instalments due within one year) 4,992.00 4,160.00 3,328.00 2,496.00 1,664.00

14. Defered Payment Credits excluding instalments due within one year - - - - -

15. Term Deposits / Loans from Sister Concerns (Repayable after one year) - - - - -

16. Other Term Liabilities - - - - -

17. TOTAL TERM LIAB( 11 OT 16) 4,992.00 4,160.00 3,328.00 2,496.00 1,664.00

18. TOTAL OUTSIDE LIABILITIES 14,926.11 13,740.74 14,050.63 13,188.42 12,367.41

(Total of 10+17)

NET WORTH

19. Share Capital 8,632.84 8,632.84 8,632.84 8,632.84 8,632.84

19.a. Unsecured Loans from Promoters - - - - -

(Including Share Premium)

20. Reserve & Surplus (296.18) 1,034.19 3,177.83 6,324.96 9,438.27

21. Capital Subsidy - - - - -

22. Other Reserves ( Excluding Provisions & Subsidies)

23. Surplus (+) or Deficit (-) in Profit & Loss 1,330.37 2,143.64 3,147.13 3,113.31 3,382.82

Deferred Tax Liability - - - - -

24. NET WORTH( Total of 19 to 23) 9,667.03 11,810.66 14,957.79 18,071.11 21,453.92

25. Total Liabilities(18+24) 24,593.13 25,551.41 29,008.42 31,259.52 33,821.34

Check - - - - -

- - - - -

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`

FORM III

PARTICULARS 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

CURRENT ASSETS

26. Cash and Bank Balance 1,800.94 2,895.11 3,498.03 6,110.33 9,084.24

FDRs as margin for LCs / B.G

27. Investments (Other than long term)

I) Government & other trust secu.

ii) Fixed deposits with Banks - - - - -

28 I) Receivables other than Defered & Exports 5,432.50 5,962.50 7,662.92 7,873.81 7,993.06

( Including bills puchased by Banks )ii) Exports Receivables - - - - -

( Including bills purchased / discounted )

29. Instalments of Defered Receivables


30. Inventory

I) Raw Material 3,219.06 3,219.06 4,202.66 4,202.66 4,202.66

(Including Stores & other items used in the process of manufacture )

ii) Work - in - Process. 1,609.53 1,609.53 2,101.33 2,101.33 2,101.33

iii) Finished Goods 965.72 965.72 1,260.80 1,260.80 1,260.80

iv) Other Consumable Spares - - - - -

a) Imported - - - - - b) Indigenous - - - - -

31. Advance to Suppliers of Raw materials & stores / spares - - - - -

32. Advance payment of Taxes - - - - -

33. Other Current Assets - - - - -

(Specify Major items)

34. TOTAL CURRENT ASSETS 13,027.75 14,651.92 18,725.74 21,548.94 24,642.10

(Total of 26 to 33)

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COMPARATIVE STATEMENT OF COMPARISON

CURRENT ASSETS & CURRENT LIABILITIES

FORM IV

PARTICULARS 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

CURRENT ASSETS

1. Raw Material

( Including Stores & other items used in the process of manufacturing )

a) Imported 1,287.62 1,287.62 1,681.07 1,681.07 1,681.07

Months Consumption 0.90 1.00 0.98 1.00 1.00

b) Indegenous 1,931.44 1,931.44 2,521.60 2,521.60 2,521.60

Months Consumption 0.90 1.00 0.98 1.00 1.00

2. Other Consumable Spares

a) Imported - - - - -

Months Consumption

b) Indegenous - - - - -

Months Consumption

3. Stock-in-Process 1,609.53 1,609.53 2,101.33 2,101.33 2,101.33

Months Cost of Production 0.44 0.40 0.41 0.40 0.39

4. Finished Goods 965.72 965.72 1,260.80 1,260.80 1,260.80

Months Cost of Sales 0.27 0.24 0.25 0.24 0.24Goods in Transit

5.Receivables other than Exports & Deferred Receivables 5,432.50 5,962.50 7,662.92 7,873.81 7,993.06

( Including Bills purchased by the Banks )

Months Domestic Sales excluding Deferred Payment Sales 1.50 1.50 1.50 1.50 1.50

6. Export Receivables - - - - -

( Inclui\ding Bills Purchased )

Months's Export Sales

7. Advance to Suppliers of Raw Material & Stores / Spares - - - - -

1,800.94 2,895.11 3,498.03 6,110.33 9,084.24

9.TOTAL CURRENT ASSETS(1 TO 8) 13,027.75 14,651.92 18,725.74 21,548.94 24,642.10

To tally with item 34 of form III - - - - -

CURRENT LIABILITIES(except bank

( Except Bank Borrowing for Working Capital)

10. Trade Creditor for R / M, Stores etc. 3,576.74 3,219.06 4,284.63 4,202.66 4,202.66

Months Purchases 1.00 1.00 1.00 1.00 1.00

11. Advance from Customers - - - - -

12. Statutory Liabilities - - - - -

13. Other Current Liabilities 357.37 361.68 437.99 489.75 500.75

14. Total (From 10 to 13) 3,934.11 3,580.74 4,722.63 4,692.42 4,703.41

. ,

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COMPUTATION OF PERMISSABLE BANK FINANCE FOR WORING CAPITAL

FORM V

PARTICULARS 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

First Method of Lending

1. Total Current Assets ( Form IV - 9 ) 13,027.75 14,651.92 18,725.74 21,548.94 24,642

2. Other Current Liabilities ( Other than Bank Borrowings) ( Form IV - 14 ) 3,934.11 3,580.74 4,722.63 4,692.42 4,703

3. Working Capital Gap WCG ( 1 - 2 ) 9,093.64 11,071.18 14,003.11 16,856.52 19,938

4. Minimum stipulated Net Working Capital 2,273.41 2,767.79 3,500.78 4,214.13 4,984

( 25% of WCG excluding export recievables )

5. Actual / Projected Net Working Capital 3,093.64 5,071.18 8,003.11 10,856.52 13,938

( Form III - 45 )6. Item 3 - Item 4 6,820.23 8,303.38 10,502.34 12,642.39 14,954

7. Item 3 - Item 5 6,000.00 6,000.00 6,000.00 6,000.00 6,000

8. Maximum Permissible Bank Finance 6,000.00 6,000.00 6,000.00 6,000.00 6,000

( Item 6 or 7 which ever is lower )

9. Excess borrowings representing shortfall in NWC

( 4 - 5 )

Second Method of Lending

1. Total Current Assets ( Form IV - 9 ) 13,027.75 14,651.92 18,725.74 21,548.94 24,642

2. Other Current Liabilities ( Other than Bank Borrowings) ( Form IV - 14 ) 3,934.11 3,580.74 4,722.63 4,692.42 4,703

3. Working Capital Gap WCG ( 1 - 2 ) 9,093.64 11,071.18 14,003.11 16,856.52 19,938

4. Minimum stipulated Net Working Capital 3,256.94 3,662.98 4,681.44 5,387.23 6,160

( 25% of Current Assets excluding export recievables )

5. Actual / Projected Net Working Capital 3,093.64 5,071.18 8,003.11 10,856.52 13,938

( Form III - 45 )

6. Item 3 - Item 4 5,836.71 7,408.20 9,321.68 11,469.29 13,778

7. Item 3 - Item 5 6,000.00 6,000.00 6,000.00 6,000.00 6,000

8. Maximum Permissible Bank Finance 5,836.71 6,000.00 6,000.00 6,000.00 6,000

( Item 6 or 7 which ever is lower )

9. Excess borrowings representing shortfall in NWC

( 4 - 5 )

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FUND FLOW STATEMENT

FORM VI

PARTICULARS 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

1. SOURCES

Profit Before Tax 1,330.37 2,615.21 4,402.87 4,472.13 4,963.22

Depreciation 541.09 665.90 616.80 572.09 531.35

Gross Fund Generated 1,871.46 3,281.11 5,019.67 5,044.22 5,494.57

Less Taxes paid - 471.57 1,255.74 1,358.82 1,580.41

Less Devidend Paid/Payable - - - - -

A. Sub total : Net fund Generated 1,871.46 2,809.54 3,763.94 3,685.41 3,914.17

Increase in Capital 5,059.77 - - - -

Increase in Term Loan 700.00 - - - -

Increase in Unsecured Loans - - - - -

Decrease in Fixed Assets - - - - -

Decrease Other Non Current Assets - - - - -

B. Sub Total 5,759.77 - - - -

Increase in Short Term Bank Borrowings 6,000.00 - - -

Increase in Other Current Liabilities 3,934.11 - 1,141.88 -

Decrease in Inventory - - - -

Decrease in Receivables - - - -

Decrease in Other Current Assets - (1,094.17) (602.92) -

Sub Total 9,934.11 (1,094.17) 538.97 -

Total Fund Avaible 17,565.33 1,715.36 4,302.90 3,685.41 3,914.17

Less :

Increase in Fixed Assets 3,524.21 - - -

Decrease in Term Loan 208.00 832.00 832.00 832.00 832

Decrease in Unsecured Loans - - - -

Increase in Inter-Corpn.Invtn & Adv. - - - -

Increase in Other Non Current Assets 1,400.00

Sub Total 5,132.21 832.00 832.00 832.00 832Decrease in Short Term Bank Borrowings - - - - -

Decrease in Current Liabilities - 353.36 - 30.21 (11.

Increase in Inventory 5,794.31 - 1,770.48 - -

Increase in Receivables 5,432.50 530.00 1,700.42 210.90 119.25

Increase in Other Current Assets 1,206.31 - - 2,612.30 2,973.91

E. Sub Total 12,433.12 883.36 3,470.90 2,853.41 3,082.17

Less : Depreciation

Balance : Gross funds lost (-) or Gross

funds generated (+)

Add: Taxes Paid/ PayableAdd: Dividend Paid/ Payable

F Sub Total

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Summary

PARTICULARS 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

Long Term Sources 7,631.22 2,809.54 3,763.94 3,685.41 3,914.17

Less : Long Term Uses 5,132.21 832.00 832.00 832.00 832.00

Gross : (+)/ Shortfall (-) 2,499.01 1,977.54 2,931.94 2,853.41 3,082.17

Short Term Sources 9,934.11 (1,094.17) 538.97 - -

Less : Short Term Uses 12,433.12 883.36 3,470.90 2,853.41 3,082.17

Gross : (+)/ Shortfall (-) (2,499.01) (1,977.54) (2,931.94) (2,853.41) (3,082.17)

- (0.00) (0.00) - -

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(Rs. in Lacs)

2017 - 18

240

235

10

6

235

62,275.00

-

4,160.50

66,435.50

-

66,435.50

1.91%

20,172.79

30,259.19

50,431.98

-

1,094.86

885.78

1,368.58

2,080.25332.18

332.18

-

1,368.58

412.05

58,306.42

4,202.66

4,202.66

58,306.42

2,101.33

2,101.3358,306.42

1 260 80

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(Rs. in Lacs)

2017 - 18

1,884.38

60,190.806,244.70

54.08

810.00

199.31

1,063.39

5,181.31

98.00

-

5,279.31

-

1,742.17

3,537.14

-

3,537.14

100%

7.95%

-

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000000M/s. R K Wind Limited, New Delhi 0

(Rs. in Lacs)

2017 - 18

6,000.00

-

-

6,000.00

-

4,202.66

-

-

-

605.54

4,808.21

10,808.21

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(Rs. in Lacs)

2017 - 18

-

-

-

-

-

-

-

10,808.21

8,632.84

-

16,456.25

-

3,537.14

-

28,626.23

39,434.43

-

-

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(Rs. in Lacs)

2017 - 18

15,243.97

-

8,304.44

-

4,202.66

2,101.33

1,260.80

-

-

-

-

-

-

31,113.20

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(Rs. in Lacs)

2017 - 18

10,495.32

-

-

10,495.32

3,574.09

6,921.23

-

-

-

1,400.00

-

-

1,400.00

-

39,434.43

-

28,626.23

20,304.99

20,304.99

2.88

0.38

-

-

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(Rs. in Lacs)

2017 - 18

1,681.07

1.00

2,521.60

1.00

-

-

2,101.33

0.38

1,260.80

0.23

8,304.44

1.50

-

-

15,243.97

31,113.20-

4,202.66

1.00

-

-

605.54

4,808.21

-

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(Rs. in Lacs)

2017 - 18

31,113.20

4,808.21

26,304.99

6,576.25

20,304.99

19,728.75

6,000.00

6,000.00

31,113.20

4,808.21

26,304.997,778.30

20,304.99

18,526.69

6,000.00

6,000.00

000000M/ R K Wi d Li it d N D lhi

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(Rs. in Lacs)

2017 - 18

5,279.31

412.05

5,691.36

1,742.17

-

3,949.19

--

-

-

-

-

-

71.86

-

-

-

71.86

4,021.05

-

832.00

-

-

832.00

--

-

155.69

3,033.36

3,189.05

-

000000M/s R K Wind Limited New Delhi 00

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(Rs. in Lacs)

2017 - 18

3,949.19832.00

3,117.19

71.86

3,189.05

(3,117.19)

-

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CASH FLOW STATEMENT:

Cash Outflows: 2009 - 10 2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15

Capital Expenditure

Project Expenditure 1,916.21 5,055.19 3,494.21 - - -

Pre Operative Expenses 90.48 120.67 30.00

Total Capital Expenditure 2,006.69 5,175.86 3,524.21 - - -

Debt Servicing Obligations:

Principal Repayments - 208.00 832.00 832.00 832.00

Interest on term loans - 503.62 594.88 486.72 378.56

Interest on working capital borrowings - 607.50 810.00 810.00 810.00

Total Debt Servicing Obligations - - 1,319.12 2,236.88 2,128.72 2,020.56

LC/BG Margin Money - - 1,400.00

Dividend Payout - - - - - -

Total Cashoutflows 2,006.69 5,175.86 6,243.33 2,236.88 2,128.72 2,020.56

Cash Inflows:

Capital inflows:

Debt 4,500.00 700.00 - - -

Equity investment 1,774.86 1,478.84 5,059.77 - - -

Unsecured Loans: Promoters(Decrease) / Increase in WC borrowings - 6,000.00 - - -

Total capital inflows 1,774.86 5,978.84 11,759.77 - - -

Cash from Operations:

PBDIT (45.40) - 2,982.58 4,685.99 6,316.39 6,232.78

Less: Income Tax paid - - 471.57 1,255.74 1,358.82

Less: Dividend - - - - -

Net Cash from Operations (45.40) - 2,982.58 4,214.42 5,060.66 4,873.97

Decrease / (Increase) in current assets 0.92 (1.78) 11,226.81 530.00 3,470.90 210.90

(Decrease) / Increase in current liabilities 962.14 (906.54) 3,934.11 (353.36) 1,141.88 (30.21)

Change in WC (961.22) 904.76 7,292.71 883.36 2,329.02 241.11

Net Cash from Operations after WC changes 915.82 (904.76) (4,310.13) 3,331.05 2,731.64 4,632.86

Total Cash Inflows 2,690.68 5,074.08 7,449.64 3,331.05 2,731.64 4,632.86

Net Cash Surplus / (Deficit) 683.99 (101.78) 1,206.31 1,094.17 602.92 2,612.30

Opening Cash Balance 12.42 696.41 594.63 1,800.94 2,895.11 3,498.03

Closing Cash Balance 696.41 594.63 1,800.94 2,895.11 3,498.03 6,110.33

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(Rs in Lacs)

2015 - 16 2016 - 17 2017 - 18

- - -

- - -

832.00 832.00 832.00

270.40 162.24 54.08

810.00 810.00 810.00

1,912.40 1,804.24 1,696.08

- - -

1,912.40 1,804.24 1,696.08

- - -

- - -

- - -

- - -

6,574.97 6,798.74 6,555.44

1,580.41 1,745.38 1,742.17

- - -

4,994.57 5,053.36 4,813.27

119.25 155.69 155.69

11.00 32.94 71.86

108.25 122.75 83.83

4,886.31 4,930.61 4,729.44

4,886.31 4,930.61 4,729.44

2,973.91 3,126.37 3,033.36

6 110 33 9 084 24 12 210 61


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(Rs in Lacs)

2009 - 10 2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17

Assets

Inventory & Receivables 1.78 - 11,226.81 11,756.81 15,227.71 15,438.61 15,557.86 15,713.55

Bank Balance 696.41 594.63 1,800.94 2,895.11 3,498.03 6,110.33 9,084.24 12,210.61Margin Money LC/GG - 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00

Total Current Assets 698.19 594.63 14,427.75 16,051.92 20,125.74 22,948.94 26,042.10 29,324.16

Fixed Assets (Net block) 1,915.92 6,971.11 9,972.46 9,354.80 8,786.22 8,262.36 7,779.24 7,333.28

Pre Operative Exp 90.48 211.15 192.92 144.69 96.46 48.23 - -

Total Assets 2,704.59 7,776.89 24,593.13 25,551.41 29,008.42 31,259.52 33,821.34 36,657.43

Liabilities

Current Liabilities - Expenses 906.24 - 357.37 361.68 437.99 489.75 500.75 533.68

Current Liabilities - Trade 0.30 - 3,576.74 3,219.06 4,284.63 4,202.66 4,202.66 4,202.66

Total Current Liabilities 906.54 - 3,934.11 3,580.74 4,722.63 4,692.42 4,703.41 4,736.35Debt 4,500.00 4,992.00 4,160.00 3,328.00 2,496.00 1,664.00 832.00

Shareholder's equity 2,094.23 3,573.07 8,632.84 8,632.84 8,632.84 8,632.84 8,632.84 8,632.84

Bank Borrowings - 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00

Unsecured Loan (Promoters) - - - - - - -

Retained Earnings (296.18) (296.18) 1,034.19 3,177.83 6,324.96 9,438.27 12,821.09 16,456.25

Total Liabilities 2,704.59 7,776.89 24,593.13 25,551.41 29,008.42 31,259.52 33,821.34 36,657.43

Diff - - - - - - - -

- -

23.19

Balance Sheet


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2017 - 18

15,869.23

15,243.971,400.00

32,513.20

6,921.23

-

39,434.43

605.54

4,202.66

4,808.21-

8,632.84

6,000.00

-

19,993.39

39,434.43

-

28,626.23


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Working Capital Calculation

Y1 Y2 Y3 Y4 Y5 Y6 Y

Projected working capital statement

Year no. 1 2 3 4 5 6 7Financial year ending 31st March 2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17

No. of months 0 9 12 12 12 12 12

Current assets

Inventories

Raw material 1.00 Months - 3,219.06 3,219.06 4,202.66 4,202.66 4,202.66 4,202.66

WIP 0.50 Months - 1,609.53 1,609.53 2,101.33 2,101.33 2,101.33 2,101.33

Finished goods 0.30 Months - 965.72 965.72 1,260.80 1,260.80 1,260.80 1,260.80

Recievables 1.50 Months - 5,432.50 5,962.50 7,662.92 7,873.81 7,993.06 8,148.75

Total current assets - 11,226.81 11,756.81 15,227.71 15,438.61 15,557.86 15,713.55

LC/BG Margin Money - 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00

Inc. in Margin Money - 1,400.00 - - - - -

Current liabilities

Creditors 1.00 Months - 3,576.74 3,219.06 4,284.63 4,202.66 4,202.66 4,202.66

Expenses 1.00 Months - 357.37 361.68 437.99 489.75 500.75 533.68

Net current assets - 8,692.71 9,576.07 11,905.09 12,146.19 12,254.45 12,377.20

Change 8,692.71 883.36 2,329.02 241.11 108.25 122.75

MPBF 25% - 6,519.53 7,182.05 8,928.81 9,109.64 9,190.84 9,282.90

Bank borrowings - 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00

6,000.00 - - - - -

Interest on bank borrowings 13.50% - 607.50 810.00 810.00 810.00 810.00 810.00

Working Capital Margin - 2,806.70 2,939.20 3,806.93 3,859.65 3,889.46 3,928.39

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WORKING FOR NON FUND BASED LIMITS

(Rs. in Lacs)

2011-12

Earnest Money Deposit

Order Value to be Bid -

BG Value 5% -

Performance BG

Order Value 75% 47,700.00

BG Value 10% 4,770.00

Margin Money 10% 477.00

Advance Payment Bank GuaranteeOrder Value -

BG Value -

Waranty Period Bank Guarantee

Order Value -

BG Value -

BG Value

- EMD -

- Performance 4,000.00

- Advance -

- Warranty -

TOTAL 4,000.00

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LC (ILC/ FLC)

Particulars Imported Indigenious Total

Annual Raw Material consumption 11,588.62 19,314.37 30,903.00

Add : Closing Stock of raw material - -

Less: Opening Stock of raw material - - -

Raw Material purchases 11,588.62 19,314.37 30,903.00

-

RM to be procured under L/C 100% 75%

RM Requirement per Month 965.72 1207.15 2,172.87

Lead Time 4 3

Usance Time 0 2Total Period (In Month) 4 5 9.00

(Lead time and usance together) -

L/C requirement per cycle 3,862.87 6,035.74 9,898.62

L/C limit Requirment (say) 3,900.00 6,100.00 10,000.00

Total L/C Limit Requirement 10,000.00 10,000.00

-

Total NFB Limit (LC & BG) 14,000.00 14,000.00

Total NFB Limit - Recommended(LC Limit of Rs. 50 Cr as a sub limit of BG Limit)


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BREAK EVEN POINT

(Rs. in Lacs)

PARTICULARS 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17

CAPACITY UTILISATION 56% 75% 98% 98% 98% 98%

SALES REALIZATION 32,693.00 47,798.00 61,401.33 63,088.50 64,042.50 65,288.00

VARIABLE COST

Raw Material 26,396.31 38,628.75 49,645.09 50,431.98 50,431.98 50,431.98

Consumables - - - - - -

Utilities 375.00 550.00 605.00 665.50 732.05 805.26

Sales Expenses 1,285.37 1,593.16 1,993.67 2,167.77 1,780.12 1,737.48

Royalty 180.00 180.00 180.00 180.00 180.00 -Repair & Maintenace 375.00 550.00 660.00 792.00 950.40 1,140.48

O & M Cost - - - 357.75 834.75 1,457.50

Insurance for Generation Guarantee 162.98 238.50 306.52 314.95 319.72 325.95

Power Curve Guarantee 162.98 238.50 306.52 314.95 319.72 325.95

Interest on Working Capital 607.50 810.00 810.00 810.00 810.00 810.00

TOTAL 29,545.14 42,788.91 54,506.79 56,034.90 56,358.74 57,034.59

CONTRIBUTION 3,147.86 5,009.09 6,894.54 7,053.60 7,683.76 8,253.41

FIXED COST

Factory Expenses 300.00 440.00 528.00 633.60 760.32 912.38

Manpower 375.00 550.00 660.00 792.00 950.40 1,140.48

Administrative Expenses 97.79 143.10 200.15 205.21 208.07 211.81

Interest on Term Loan 503.62 594.88 486.72 378.56 270.40 162.24

Depreciation 492.86 617.67 568.57 523.86 483.12 445.96

Preliminary Expenses W'O 48.23 48.23 48.23 48.23 48.23 -

TOTAL F EXP 1,817.49 2,393.88 2,491.67 2,581.47 2,720.54 2,872.87

CASH F EXP 1,276.41 1,727.98 1,874.87 2,009.37 2,189.19 2,426.91

Tally - - - - - -

Break Even Point 32.48% 35.84% 35.39% 35.84% 34.67% 34.08%

Cash Break Even Point 22.81% 25.87% 26.63% 27.89% 27.90% 28.79%


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INTERNAL RATE OF RETU

PARTICULARS 2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

Profit Before Tax - 1,330.37 2,615.21 4,402.87 4,472.13 4,963.22

Depreciation/Exp. Written off - 492.86 617.67 568.57 523.86 483.12

Interest - 503.62 594.88 486.72 378.56 270.40

Residual Value

CASH INFLOW (PRE TAX) - 2,326.85 3,827.76 5,458.16 5,374.55 5,716.74

Tax - - 471.57 1,255.74 1,358.82 1,580.41

CASH INFLOW (POST TAX) - 2,326.85 3,356.19 4,202.43 4,015.74 4,136.34

CASH OUTFLOW 6,971.11 15,628.16 530.00 3,470.90 210.90 119.25

NET CASH FLOW (PRE TAX) (6,971.11) (13,301.32) 3,297.76 1,987.26 5,163.66 5,597.49

IRR (PRE TAX) 21.56%

NET CASH FLOW (POST TAX) (6,971.11) (13,301.32) 2,826.19 731.52 3,804.84 4,017.09

IRR (POST TAX) 16.41%

INTERNAL RATE OF RETURN

PARTICULARS Impl.Years 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

Profit after tax 1,330.37 2,143.64 3,147.13 3,113.31 3,382.82

Depreciation 492.86 617.67 568.57 523.86 483.12

Amortised Expenses 48.23 48.23 48.23 48.23 48.23

Interest on term loan 503.62 594.88 486.72 378.56 270.40

Tax - 471.57 1,255.74 1,358.82 1,580.41

Cash inflow (Post tax) 0 2,375.08 3,404.42 4,250.66 4,063.97 4,184.57

Cash inflow (Pre tax) 0 2,375.08 3,875.99 5,506.39 5,422.78 5,764.97

Fixed Assets Selvedge Value

Net Current Assets

Cash outflow 10,706.76 0 0 0 0 0

Net Cash Flow (Pre Tax) (10,706.76) 2,375.08 3,875.99 5,506.39 5,422.78 5,764.97

IRR (Pre Tax) 37.96%

Net Cash Flow (Post Tax) (10,706.76) 2,375.08 3,404.42 4,250.66 4,063.97 4,184.57

IRR (Post Tax) 30.78%

COST OF CAPITAL

COST OF FUNDS TOTAL COST


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MEANS OF FINANCE RATE AMOUNT (POST TAX)

A B C D=B X C

EQUITY CAPITAL 12.50% 8,313.47 8.92% 741.28

TERM LOAN @ 13.00% 5,200.00 9.27% * 482.21

TOTAL 13,513.47 1,223.48

* COST OF FUNDS = INTEREST RATE ( 1- EFFECTIVE TAX RATE)

EFFECTIVE TAX RATE = TOTAL TAX FOR THE PERIOD / TOTAL PRE TAX PROFITS 28.67%

WEIGHTED AVERAGE COST OF CAPITAL (POST TAX) = 1,223.48 9.05% 9.05%

13,513.47


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RN

(Rs. in Lacs)

2016 - 17 2017 - 18 TOTAL2018-19 2019-20 2020-21 2021-22 2022-23

5,380.54 5,279.31 5,279.31 5,279.31 5,279.31 5,279.31 5,279.31 28,443.65

445.96 412.05 412.05 412.05 412.05 412.05 412.05 3,544.09

162.24 54.08 54.08 54.08 54.08 54.08 54.08 2,450.50

28,626.23 28,626.23

5,988.74 5,745.44 5,745.44 5,745.44 5,745.44 5,745.44 34,371.66 63,064.47

1,745.38 1,742.17 1,742.17 1,742.17 1,742.17 1,742.17 1,742.17 8,154.08

4,243.36 4,003.27 4,003.27 4,003.27 4,003.27 4,003.27 32,629.49 54,910.39

155.69 155.69 155.69 155.69 155.69 155.69 155.69 27,241.70

5,833.05 5,589.75 5,589.75 5,589.75 5,589.75 5,589.75 34,215.98 35,822.77

4,087.67 3,847.58 3,847.58 3,847.58 3,847.58 3,847.58 32,473.80 27,668.69

(Amount in Rs. Lakh)

2016 - 17 2017 - 18

3,635.16 3,537.14

445.96 412.05

- -

162.24 54.08

1,745.38 1,742.17

4,243.36 4,003.27

5,988.74 5,745.44

6,921.23

0 0

5,988.74 12,666.67

4,243.36 10,924.50

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(Rs. in Lacs)

DEBT SERVICE COVERAGE RATIO: 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17 2017 - 18 Total

A)PROFIT AFTER TAX 1,330.37 2,143.64 3,147.13 3,113.31 3,382.82 3,635.16 3,537.14 20,289.57

DEPRECIATION 492.86 617.67 568.57 523.86 483.12 445.96 412.05 3,544.09

INTEREST 503.62 594.88 486.72 378.56 270.40 162.24 54.08 2,450.50

TOTAL OF( A) 2,326.85 3,356.19 4,202.43 4,015.74 4,136.34 4,243.36 4,003.27 26,284.16

B) TERM LOAN INSTALLMENT 208.00 832.00 832.00 832.00 832.00 832.00 832.00 5,200.00

(PRINCIPAL COMPONENT)

INTEREST 503.62 594.88 486.72 378.56 270.40 162.24 54.08 2,450.50

TOTAL OF( B) 711.62 1,426.88 1,318.72 1,210.56 1,102.40 994.24 886.08 7,650.50

DSCR: A/B 3.27 2.35 3.19 3.32 3.75 4.27 4.52 3.44

AVERAGE DSCR : 3.44


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Loan Schedule Monthly

1 2010 - 11 April May June July August September October November Decem

Loan Repayment Month

Door to Door Tenure 1

Financial Year Ending 31st March 2010 2010 2010 2010 2010 2010 2010 2010 201

Term Loan Schedule

Opening Balance (INR Rs Lacs) - - - - - - - -

Additions - - - - - - -

Repayment - - - - - - - -

Closing Balance - - - - - - - -

Interest on Loan - - - - - - - -

2 2011 - 12 April May June July August September October November DecemLoan Repayment Month

Door to Door Tenure 5 6 7 8 9 10 11 12 13


Term Loan Schedule

Opening Balance (INR Rs Lacs) 4,500.00 4,850.00 5,200.00 5,200.00 5,200.00 5,200.00 5,200.00 5,200.00 5,2

Additions 350.00 350.00 - - - - - -

Repayment - - - - - - - -

Closing Balance 4,850.00 5,200.00 5,200.00 5,200.00 5,200.00 5,200.00 5,200.00 5,200.00 5,2

Interest on Loan 50.65 54.44 56.33 56.33 56.33 56.33 56.33 56.33


Loan Repayment Month 4 5 6 7 8 9 10 11 12



Term Loan Schedule

Opening Balance (INR Rs Lacs) 4,992.00 4,922.67 4,853.33 4,784.00 4,714.67 4,645.33 4,576.00 4,506.67 4,4

Additions - - - - - - - - Repayment 69.33 69.33 69.33 69.33 69.33 69.33 69.33 69.33

Closing Balance 4,922.67 4,853.33 4,784.00 4,714.67 4,645.33 4,576.00 4,506.67 4,437.33 4,

Interest on Loan 53.70 52.95 52.20 51.45 50.70 49.95 49.20 48.45





Term Loan Schedule


O i B l (INR R L ) 4 160 00 4 090 67 4 021 33 3 952 00 3 882 67 3 813 33 3 744 00 3 674 67 3

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Opening Balance (INR Rs Lacs) 4,160.00 4,090.67 4,021.33 3,952.00 3,882.67 3,813.33 3,744.00 3,674.67 3

Additions - - - - - - - -

Repayment 69.33 69.33 69.33 69.33 69.33 69.33 69.33 69.33

Closing Balance 4,090.67 4,021.33 3,952.00 3,882.67 3,813.33 3,744.00 3,674.67 3,605.33 3

Interest on Loan 44.69 43.94 43.19 42.44 41.69 40.94 40.18 39.43

5 2014 - 15 April May June July August September October November Dece




Term Loan Schedule


Additions - - - - - - - -

Repayment 69.33 69.33 69.33 69.33 69.33 69.33 69.33 69.33

Closing Balance 3,258.67 3,189.33 3,120.00 3,050.67 2,981.33 2,912.00 2,842.67 2,773.33 2

Interest on Loan 35.68 34.93 34.18 33.42 32.67 31.92 31.17 30.42





Term Loan Schedule

Opening Balance (INR Rs Lacs) 2,496.00 2,426.67 2,357.33 2,288.00 2,218.67 2,149.33 2,080.00 2,010.67 1Additions - - - - - - - -

Repayment 69.33 69.33 69.33 69.33 69.33 69.33 69.33 69.33

Closing Balance 2,426.67 2,357.33 2,288.00 2,218.67 2,149.33 2,080.00 2,010.67 1,941.33 1

Interest on Loan 26.66 25.91 25.16 24.41 23.66 22.91 22.16 21.41





Term Loan Schedule


Additions - - - - - - - -

Repayment 69.33 69.33 69.33 69.33 69.33 69.33 69.33 69.33

Closing Balance 1,594.67 1,525.33 1,456.00 1,386.67 1,317.33 1,248.00 1,178.67 1,109.33 1

Interest on Loan 17.65 16.90 16.15 15.40 14.65 13.90 13.14 12.39

8 2017 - 18 April May June July August September October November DeceLoan Repayment Month 64 65 66 67 68 69 70 71 7



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Term Loan Schedule

Opening Balance (INR Rs Lacs) 832.00 762.67 693.33 624.00 554.67 485.33 416.00 346.67 2

Additions - - - - - - - -

Repayment 69.33 69.33 69.33 69.33 69.33 69.33 69.33 69.33 Closing Balance 762.67 693.33 624.00 554.67 485.33 416.00 346.67 277.33 2

Interest on Loan 8.64 7.89 7.14 6.38 5.63 4.88 4.13 3.38

Loan Schedule Yearly

Term Loan Schedule Yearly 2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17 2017 - 18

Total (INR Lacs)

Opening Balance - 4,500.00 4,992.00 4,160.00 3,328.00 2,496.00 1,664.00 832.00

Additions 4,500.00 700.00 - - - - - -

Repayments - 208.00 832.00 832.00 832.00 832.00 832.00 832.00

Closing Balance 4,500.00 4,992.00 4,160.00 3,328.00 2,496.00 1,664.00 832.00 -

Working Capital Loan Schedule Yearly 2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17 2017 - 18

Total (INR Lacs)

Opening Balance - - 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00

Additions - 6,000.00 - - - - - -

Repayments

Closing Balance - 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00

Year wise interest schd 2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17 2017 - 18

Total (INR Lacs)

Interest on Loan - 503.62 594.88 486.72 378.56 270.40 162.24 54.08

Interest on WC - 607.50 810.00 810.00 810.00 810.00 810.00 810.00


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(Rs. in Lacs)

January February March

2 3 4

2011 2011 2011

- - 2,500.00

- 2,500.00 2,000.00

- - -

- 2,500.00 4,500.00

- 13.54 37.92

January February March1 2 3

14 15 16

2012 2012 2012

5,200.00 5,130.67 5,061.33

- - -

69.33 69.33 69.33

5,130.67 5,061.33 4,992.00

55.96 55.21 54.46


13 14 15

26 27 28

2013 2013 2013

4,368.00 4,298.67 4,229.33

- - -69.33 69.33 69.33

4,298.67 4,229.33 4,160.00

46.94 46.19 45.44


25 26 27

38 39 40

2014 2014 2014


3 536 00 3 466 67 3 397 33

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3,536.00 3,466.67 3,397.33

- - -

69.33 69.33 69.33

3,466.67 3,397.33 3,328.00

37.93 37.18 36.43


37 38 39

50 51 52

2015 2015 2015

2,704.00 2,634.67 2,565.33

- - -

69.33 69.33 69.33

2,634.67 2,565.33 2,496.00

28.92 28.17 27.42


49 50 51

62 63 64

2016 2016 2016

1,872.00 1,802.67 1,733.33- - -

69.33 69.33 69.33

1,802.67 1,733.33 1,664.00

19.90 19.15 18.40


61 62 63

74 75 76

2017 2017 2017

1,040.00 970.67 901.33

- - -

69.33 69.33 69.33

970.67 901.33 832.00

10.89 10.14 9.39

January February March73 74 75


86 87 88

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86 87 88

2018 2018 2018

208.00 138.67 69.33

- - -

69.33 69.33 69.33

138.67 69.33 0.00

1.88 1.13 0.38


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Tax Calculation

Tax Calculation Y1 Y2 Y3 Y4 Y5 Y6 Y7

2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17

EBITDA - 2,982.58 4,685.99 6,316.39 6,232.78 6,574.97 6,798.74

EBIT - 866.46 3,069.20 5,077.06 5,279.23 5,838.15 6,226.64PBT - (244.66) 1,664.32 3,780.34 4,090.67 4,757.75 5,254.40

Setof of Unabsorbed Depreciation - - (244.66) - - - -

Taxable Profits - - 1,419.66 3,780.34 4,090.67 4,757.75 5,254.40

Tax as per MAT - - 299.58 680.46 736.32 856.40 945.79

Tax as per 80A - - 471.57 1,255.74 1,358.82 1,580.41 1,745.38

Tax Payable - - 471.57 1,255.74 1,358.82 1,580.41 1,745.38

PBT - 1,330.37 2,615.21 4,402.87 4,472.13 4,963.22 5,380.54Dep as per Co Act - 492.86 617.67 568.57 523.86 483.12 445.96

Dep as per I T Act - 2,116.12 1,616.79 1,239.33 953.56 736.82 572.10

PBT - (292.89) 1,616.09 3,732.11 4,042.44 4,709.52 5,254.40

C F Losses -

PBT - (292.89) 1,616.09 3,732.11 4,042.44 4,709.52 5,254.40

Tax as per MAT - - - - - - -

Tax as per 80A - - 536.82 1,239.71 1,342.80 1,564.39 1,745.38Tax Payable - - 536.82 1,239.71 1,342.80 1,564.39 1,745.38


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Y8 Column1 Column2

2017 - 18

6,555.44

6,108.825,244.74

-

5,244.74

944.05

1,742.17

1,742.17

5,279.31 28,443.65412.05 3,544.09

446.62 7,681.34

5,244.74 24,306.41

5,244.74 24,306.41

- -

1,742.17 8,171.271,742.17 8,171.27

000000R K Wind Limited, New Delhi 00000001/03/2011

Book Depreciation Schedule

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p

2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16

Land Value Rate

Gross Block 813.00 0% - - 813.00 813.00 813.00 813.00

Addition - 813.00 - - - -

Depreciation - - - - - -

Net Block 813.00 813.00 813.00 813.00 813.00

Plant and Machinery 3,998.39 5.28%

Gross Block - - 3,840.06 3,637.30 3,445.25 3,263.34

Addition - 3,998.39 - - - -

Depreciation - 158.34 202.76 192.05 181.91 172.30

Net Block - 3,840.06 3,637.30 3,445.25 3,263.34 3,091.04

Technology 3,674.00 10.34%Gross Block - - 3,389.08 3,038.65 2,724.45 2,442.75

Addition - 3,674.00 - - - -

Depreciation - 284.92 350.43 314.20 281.71 252.58

Net Block - 3,389.08 3,038.65 2,724.45 2,442.75 2,190.17

Factory Building 1,980.22 3.34%

Gross Block - - 1,930.62 1,866.13 1,803.80 1,743.56

Addition - 1,980.22 - - - -

Depreciation - 49.60 64.48 62.33 60.25 58.23

Net Block - 1,930.62 1,866.13 1,803.80 1,743.56 1,685.32

Total

Gross Block - - 9,972.75 9,355.09 8,786.51 8,262.65

Addition - 10,465.61 - - - -

Depreciation - 492.86 617.67 568.57 523.86 483.12

Net Block - 9,972.75 9,355.09 8,786.51 8,262.65 7,779.53

Depreciation Schedule - YearlyBook Depreciation (SLM) Y1 Y2 Y3 Y4 Y5 Y6

2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16Total (INR Lacs)

Gross Block - - 9,972.75 9,355.09 8,786.51 8,262.65

Addition - 10,465.61 - - - -

Depreciation - 492.86 617.67 568.57 523.86 483.12

Net Block - 9,972.75 9,355.09 8,786.51 8,262.65 7,779.53


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(Rs. in Lacs)

2016 - 17 2017 - 18

813.00 813.00

- -

- -

813.00 813.00

3,091.04 2,927.83

- -

163.21 154.59

2,927.83 2,773.24

2,190.17 1,963.70

- -

226.46 203.05

1,963.70 1,760.66

1,685.32 1,629.03

- -

56.29 54.41

1,629.03 1,574.62

7,779.53 7,333.57

- -

445.96 412.05

7,333.57 6,921.52

Y7 Y8

2016 - 17 2017 - 18

7,779.53 7,333.57

- -

445.96 412.05

7,333.57 6,921.52


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Tax Depreciation Schedule

(Rs. in Lacs)

2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17 2017 - 18Land Value Rate

Opening Block 81.3 0% - 81.30 81.30 81.30 81.30 81.30 81.30

Addition 81.30 - - - - -

Depreciation - - - - - - - -

Closing Block - 81.30 81.30 81.30 81.30 81.30 81.30 81.30

Plant and Machinery 3,998.39 25.00%

Opening Block - 2,998.80 2,249.10 1,686.82 1,265.12 948.84 711.63

Addition 3,998.39 - - - - - -

Depreciation - 999.60 749.70 562.27 421.71 316.28 237.21 177.91Closing Block - 2,998.80 2,249.10 1,686.82 1,265.12 948.84 711.63 533.72

Technology 3,674.00 25.00%

Opening Block - 2,755.50 2,066.63 1,549.97 1,162.48 871.86 653.89

Addition - 3,674.00 - - - - - -

Depreciation - 918.50 688.88 516.66 387.49 290.62 217.96 163.47

Closing Block - 2,755.50 2,066.63 1,549.97 1,162.48 871.86 653.89 490.42

Factory Building 1,980.22 10.00%

Opening Block - - 1,782.20 1,603.98 1,443.58 1,299.22 1,169.30 1,052.37

Addition - 1,980.22 - - - - - -

Depreciation - 198.02 178.22 160.40 144.36 129.92 116.93 105.24

Closing Block - 1,782.20 1,603.98 1,443.58 1,299.22 1,169.30 1,052.37 947.13

Total

Opening Block - - 7,617.79 6,001.00 4,761.67 3,808.12 3,071.30 2,499.19

Addition - 9,733.91 - - - - - -

Depreciation - 2,116.12 1,616.79 1,239.33 953.56 736.82 572.10 446.62

Closing Block - 7,617.79 6,001.00 4,761.67 3,808.12 3,071.30 2,499.19 2,052.57

Depreciation Schedule - YearlyY1 Y2 Y3 Y4 Y5 Y6 Y7 Y8

2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17 2017 - 18

Total (INR Lacs)

Opening Block - - 7,617.79 6,001.00 4,761.67 3,808.12 3,071.30 2,499.19

Addition - 9,733.91 - - - - - -

Depreciation - 2,116.12 1,616.79 1,239.33 953.56 736.82 572.10 446.62

Closing Block - 7,617.79 6,001.00 4,761.67 3,808.12 3,071.30 2,499.19 2,052.57


W Capital Justification :

Finalisation of P Order 7 Days

D l t f P t t 40 D

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Development of Prototype 40 Days

Testing of Prototypes 7 Days

Accredated Certification 6 Days

Commercial Production 10 Days

Packing,Dispatch to port of Landing &

Transit time Through Sea Route

upto port of Landing in India 30 Days

Total Lead Time Upto Arrival in 100 Sub Total (1)

India to be preferably covered by

Non Fund Base Limits

Fund Based W Cap:

Negotiation of Documents upon Pmt 5 Days

Onward Road Tpt to Factory 7 Days

Assambly of Turbine 7 Days

Dispatch to Sites 7 DaysCommissioning & Testing 7 Days

33

Total Purchases #REF!

Avg Purchases under LC Arrangement

Say 100 Days #REF!

Avg Paid Stock :

Raw material 1.00 Months -

WIP 0.50 Months -

Finished goods 0.30 Months --

Recievables -

Other C Assets -

Total C Assets -

Less Creditors -

W Capital Gap ( Fund Based): -

Less 25% Margin -

W Capital Assistence ( Fund Based): -


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000000R K Wind Limited, New Delhi

Profit and Loss Statement

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Month April May June July August

2010 2010 2010 2010 2010

Production

Type 1 Machine

Number Of Machines 0 0 0 0 0

Weighted Avg Cost Of Machine (Rs Lacs) - - - -

Royalty Blade

Net Cost of Type 1 Machines - - - -

Type 2 Machine




Total Machines Produced 0 0 0 0 0

Expenditure (INR in Lacs)

Total Machine related Expenditure including Inc. in Inventory - - - -

Electricity Costs - - - -

Manpower Costs - - - -

Bank Guarantee and LC costs - - - -

Admin Overheads - - - -

Repairs and Maintenance - - - -

Transportation - - - -

1% Insurance - - - - Other Manufacturing Expenses - - - -

0.50% Insurance for Generation Guarantee - - - -

0.50% Power Curve Guarantee - - - -

Royalty For WTG - - - -

Royalty For Hub - - - -

Royalty For Nacelle - - - -

0% O&M Expenditure after 3 years - - - -

Total Operating Expenditure (INR Lacs) - - - -

Sales

Production 0 0 0 0 0

WIP

FG

Sale

Sales Price Per Machine (INR Lacs) 265.00 265.00 265.00 265.00 265.

Sales form MC - - - -

2%O&M Revenue

Total Sales (INR Lacs) - - - -

Total Sales Revenue (INR Lacs) - - - -

EBIDTA Calculations INR Lacs

Net Revenue - - - - Net Operations Expenditure - - - -


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Month No. April May June July August

2011 2011 2011 2011 2011

Production

Type 1 Machine

Number Of Machines 0 0 0 15 15Weighted Avg Cost Of Machine (Rs Lacs) 214.60 214.60 214.60 214.60 21

Royalty Blade

Net Cost of Type 1 Machines - - - 3,219.06 3,219

Type 2 Machine


Weighted Avg Cost Of Machine (Rs Lacs) 0 0 0 0 0

Net Cost of Type 2 Machines 0 0 0 0 0

Total Machines Produced 0 0 0 15


Total Machine related Expenditure including Inc. in Inventory - - - 3,219.06 3,219

Electricity Costs - - - 41.67 41

Manpower Costs - - - 41.67 41

Bank Guarantee and LC costs - - - 2.39 11

Admin Overheads - - - 8.33 8

Repairs and Maintenance - - - 41.67 41

Transportation - - - 98.72 98

1% Insurance - - - 32.19 32

Other Manufacturing Expenses - - - 33.33 33

0.50% Insurance for Generation Guarantee - - - 3.98 19

0.50% Power Curve Guarantee - - - 3.98 19

Royalty For WTG

Royalty For Hub

Royalty For Nacelle

0% O&M Expenditure after 3 years

Total Operating Expenditure (INR Lacs) - - - 3,526.97 3,568

Sales


WIP 0 0 0 8 0FG 0 0 0 5 0

Sale 0 0 0 3 15

Sales Price Per Machine (INR Lacs) 265.00 265.00 265.00 265.00 265

Sales form MC - - - 795.00 3,975

2% O&M Revenue

Total Sales (INR Lacs) - - - 795.00 3,975

Total Sales Revenue (INR Lacs) - - - 795.00 3,975


Net Revenue - - - 795.00 3,975Net Operations Expenditure - - - 3,526.97 3,568


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2012 2012 2012 2012 2012

Production

Type 1 Machine


Royalty Blade

Net Cost of Type 1 Machines 3,219.06 3,219.06 3,219.06 3,219.06 3,219

Type 2 Machine






Total Machine related Expenditure including Inc. in Inventory 3,219.06 3,219.06 3,219.06 3,219.06 3,219

Electricity Costs 45.83 45.83 45.83 45.83 45

Manpower Costs 45.83 45.83 45.83 45.83 45

Bank Guarantee and LC costs 11.93 11.93 11.93 11.93 11

Admin Overheads 9.17 9.17 9.17 9.17 9

Repairs and Maintenance 45.83 45.83 45.83 45.83 45

Transportation 91.41 91.41 91.41 91.41 91

1% Insurance 32.19 32.19 32.19 32.19 32

Other Manufacturing Expenses 36.67 36.67 36.67 36.67 36

0.50% Insurance for Generation Guarantee 19.88 19.88 19.88 19.88 19

0.50% Power Curve Guarantee 19.88 19.88 19.88 19.88 19

Royalty For WTG

Royalty For Hub

Royalty For Nacelle


Total Operating Expenditure (INR Lacs) 3,577.67 3,577.67 3,577.67 3,577.67 3,577

Sales


WIP 0 0 0 0 0FG 0 0 0 0 0

Sale 15 15 15 15 15


Sales form MC 3,975.00 3,975.00 3,975.00 3,975.00 3,975

2% O&M Revenue

Total Sales (INR Lacs) 3,975.00 3,975.00 3,975.00 3,975.00 3,975

Total Sales Revenue (INR Lacs) 3,975.00 3,975.00 3,975.00 3,975.00 3,975


Net Revenue 3,975.00 3,975.00 3,975.00 3,975.00 3,975Net Operations Expenditure 3,577.67 3,577.67 3,577.67 3,577.67 3,577


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2013 2013 2013 2013 2013

Production

Type 1 Machine


Royalty Blade


Type 2 Machine




Total Machines Produced 20 20 20 20




Manpower Costs 55.00 55.00 55.00 55.00 55


Admin Overheads 10.08 10.08 10.08 10.08 10


Transportation 114.56 114.56 114.56 114.56 114

1% Insurance 42.03 42.03 42.03 42.03 42




Royalty For WTG

Royalty For Hub

Royalty For Nacelle



Sales


WIP 2 0 0 0 0FG 1 0 0 0 0

Sale 16 20 20 20 20


Sales form MC 4,217.92 5,189.58 5,189.58 5,189.58 5,189

2% O&M Revenue






M th N A il M J J l A t

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2014 2014 2014 2014 2014

Production

Type 1 Machine


Royalty Blade


Type 2 Machine








Manpower Costs 66.00 66.00 66.00 66.00 66


Admin Overheads 11.09 11.09 11.09 11.09 11


Transportation 128.88 128.88 128.88 128.88 128

1% Insurance 42.03 42.03 42.03 42.03 42




Royalty For WTG

Royalty For Hub

Royalty For Nacelle



Sales


WIP 0 0 0 0 0FG 0 0 0 0 0

Sale 20 20 20 20 20


Sales form MC 5,189.58 5,189.58 5,189.58 5,189.58 5,189

2% O&M Revenue






Month No April May June July August

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2015 2015 2015 2015 2015

Production

Type 1 Machine


Royalty Blade


Type 2 Machine








Manpower Costs 79.20 79.20 79.20 79.20 79


Admin Overheads 12.20 12.20 12.20 12.20 12


Transportation 95.47 95.47 95.47 95.47 95

1% Insurance 42.03 42.03 42.03 42.03 42




Royalty For WTG

Royalty For Hub

Royalty For Nacelle



Sales


WIP 0 0 0 0 0FG 0 0 0 0 0

Sale 20 20 20 20 20


Sales form MC 5,189.58 5,189.58 5,189.58 5,189.58 5,189

2% O&M Revenue







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2016 2016 2016 2016 2016

Production

Type 1 Machine


Royalty Blade


Type 2 Machine








Manpower Costs 95.04 95.04 95.04 95.04 95


Admin Overheads 13.42 13.42 13.42 13.42 13


Transportation 90.70 90.70 90.70 90.70 90

1% Insurance 42.03 42.03 42.03 42.03 42




Royalty For WTG

Royalty For Hub

Royalty For Nacelle



Sales


WIP 0 0 0 0 0FG 0 0 0 0 0

Sale 20 20 20 20 20


Sales form MC 5,189.58 5,189.58 5,189.58 5,189.58 5,189

2% O&M Revenue







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2017 2017 2017 2017 2017

Production

Type 1 Machine


Royalty Blade


Type 2 Machine








Manpower Costs 114.05 114.05 114.05 114.05 114


Admin Overheads 14.76 14.76 14.76 14.76 14


Transportation 100.24 100.24 100.24 100.24 100

1% Insurance 42.03 42.03 42.03 42.03 42




Royalty For WTG

Royalty For Hub

Royalty For Nacelle



Sales


WIP 0 0 0 0 0FG 0 0 0 0 0

Sale 20 20 20 20 20


Sales form MC 5,189.58 5,189.58 5,189.58 5,189.58 5,189

2% O&M Revenue






Projected Profitability Statement YearlyColumn1 Column4 Y1 Y2 Y3 Y4

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Column1 Column4 Y1 Y2 Y3 Y4

Total (INR Lacs) 2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15

Net Revenue - 32,595.00 47,700.00 61,303.33 62,990.50

Net operations Exp - 29,710.42 43,112.01 55,084.94 56,855.72

Add : Accrued Interest on FDs - 98.00 98.00 98.00 98.00 EBIDTA - 2,982.58 4,685.99 6,316.39 6,232.78

Less: Interest on Term loan - 503.62 594.88 486.72 378.56

Less: Interest on Working Capital - 607.50 810.00 810.00 810.00

Less: Depreciation - 492.86 617.67 568.57 523.86

Less : Preoperative Expenses 48.23 48.23 48.23 48.23

PBT - 1,330.37 2,615.21 4,402.87 4,472.13

Less TAX - - 471.57 1,255.74 1,358.82

PAT - 1,330.37 2,143.64 3,147.13 3,113.31

Less Dividends @0% - - - - - Retained Profits - 1,330.37 2,143.64 3,147.13 3,113.31

Accumulated Retained Profits - 1,330.37 3,474.01 6,621.14 9,734.45


December January February March Total

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2010 2011 2011 2011

0 0 0 0 0

- - - - -

-

- - - - -

0 0 0 0 0

- - - - -

- - - - -

0 0 0 0 0

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

-

0 0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

265.00 265.00 265.00 265.00 265.00

- - - - -

-

- - - - -

- - - - -

- - - - -



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2011 2012 2012 2012

15 15 15 15 135214.60 214.60 214.60 214.60 214.60

-

3,219.06 3,219.06 3,219.06 3,219.06 28,971.56

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

15 15 15 15 135

3,219.06 3,219.06 3,219.06 6,438.12 32,190.62

41.67 41.67 41.67 41.67 375.00

41.67 41.67 41.67 41.67 375.00

11.93 11.93 11.93 11.93 97.79

8.33 8.33 8.33 8.33 75.00

41.67 41.67 41.67 41.67 375.00

98.72 98.72 98.72 98.72 888.47

32.19 32.19 32.19 64.38 321.91

33.33 33.33 33.33 33.33 300.00

19.88 19.88 19.88 19.88 162.98

19.88 19.88 19.88 19.88 162.98

180.00 180.00

- -

- -

- -

3,568.31 3,568.31 3,568.31 6,999.57 35,504.73

-

15 15 15 15 135

0 0 0 0 80 0 0 0 5

15 15 15 15 123

265.00 265.00 265.00 265.00 265.00

3,975.00 3,975.00 3,975.00 3,975.00 32,595.00

-

3,975.00 3,975.00 3,975.00 3,975.00 32,595.00

3,975.00 3,975.00 3,975.00 3,975.00 32,595.00

3,975.00 3,975.00 3,975.00 3,975.00 32,595.003,568.31 3,568.31 3,568.31 6,999.57 35,504.73



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2012 2013 2013 2013

15 15 15 15 180214.60 214.60 214.60 214.60 214.60

-

3,219.06 3,219.06 3,219.06 3,219.06 38,628.75

0 0 0 0 0

- - - - -

- - - - -

15 15 15 15 180

3,219.06 3,219.06 3,219.06 3,219.06 38,628.75

45.83 45.83 45.83 45.83 550.00

45.83 45.83 45.83 45.83 550.00

11.93 11.93 11.93 11.93 143.10

9.17 9.17 9.17 9.17 110.00

45.83 45.83 45.83 45.83 550.00

91.41 91.41 91.41 91.41 1,096.88

32.19 32.19 32.19 32.19 386.29

36.67 36.67 36.67 36.67 440.00

19.88 19.88 19.88 19.88 238.50

19.88 19.88 19.88 19.88 238.50

180.00 180.00

- -

- -

- -

3,577.67 3,577.67 3,577.67 3,757.67 43,112.01

-

15 15 15 15 180

0 0 0 0 00 0 0 0 0

15 15 15 15 180

265.00 265.00 265.00 265.00 265.00

3,975.00 3,975.00 3,975.00 3,975.00 47,700.00

-

3,975.00 3,975.00 3,975.00 3,975.00 47,700.00

3,975.00 3,975.00 3,975.00 3,975.00 47,700.00

3,975.00 3,975.00 3,975.00 3,975.00 47,700.003,577.67 3,577.67 3,577.67 3,757.67 43,112.01



2013 2014 2014 2014

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2013 2014 2014 2014

20 20 20 20 235214.60 214.60 214.60 214.60 214.60

- -

4,202.66 4,202.66 4,202.66 4,202.66 50,431.98

0 0 0 0 0

- - - - -

- - - - -

20 20 20 20 235

4,202.66 4,202.66 4,202.66 5,186.27 51,415.58

50.42 50.42 50.42 50.42 605.00

55.00 55.00 55.00 55.00 660.00

15.57 15.57 15.57 15.57 183.91

10.08 10.08 10.08 10.08 121.00

55.00 55.00 55.00 55.00 660.00

114.56 114.56 114.56 114.56 1,374.75

42.03 42.03 42.03 51.86 514.16

44.00 44.00 44.00 44.00 528.0025.95 25.95 25.95 25.95 306.52

25.95 25.95 25.95 25.95 306.52

180.00 180.00

- -

- -

- -

4,641.22 4,641.22 4,641.22 5,814.66 56,855.43

20 20 20 20 235

0 0 0 0 20 0 0 0 1

20 20 20 20 231

265.00 265.00 265.00 265.00 265.00

5,189.58 5,189.58 5,189.58 5,189.58 61,303.33

- -

5,189.58 5,189.58 5,189.58 5,189.58 61,303.33

5,189.58 5,189.58 5,189.58 5,189.58 61,303.33

-

5,189.58 5,189.58 5,189.58 5,189.58 61,303.334,641.22 4,641.22 4,641.22 5,814.66 56,855.43



2014 2015 2015 2015

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2014 2015 2015 2015

20 20 20 20 235214.60 214.60 214.60 214.60 214.60

- -

4,202.66 4,202.66 4,202.66 4,202.66 50,431.98

0 0 0 0 0

- - - - -

- - - - -

20 20 20 20 235

4,202.66 4,202.66 4,202.66 4,202.66 50,431.98

55.46 55.46 55.46 55.46 665.50

66.00 66.00 66.00 66.00 792.00

15.57 15.57 15.57 17.72 188.97

11.09 11.09 11.09 11.09 133.10

66.00 66.00 66.00 66.00 792.00

128.88 128.88 128.88 128.88 1,546.59

42.03 42.03 42.03 42.03 504.32

52.80 52.80 52.80 52.80 633.6025.95 25.95 25.95 29.53 314.95

25.95 25.95 25.95 29.53 314.95

180.00 180.00

- -

- -

357.75 357.75

4,692.39 4,692.39 4,692.39 5,239.44 56,855.72

20 20 20 20 235

0 0 0 0 00 0 0 0 0

20 20 20 20 235

265.00 265.00 265.00 265.00 265.00

5,189.58 5,189.58 5,189.58 5,189.58 62,275.00

715.50 715.50

5,189.58 5,189.58 5,189.58 5,905.08 62,990.50

5,189.58 5,189.58 5,189.58 5,905.08 62,990.50

-

5,189.58 5,189.58 5,189.58 5,905.08 62,990.504,692.39 4,692.39 4,692.39 5,239.44 56,855.72



2015 2016 2016 2016

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2015 2016 2016 2016

20 20 20 20 235214.60 214.60 214.60 214.60 214.60

4,202.66 4,202.66 4,202.66 4,202.66 50,431.98

0 0 0 0 0

- - - - -

- - - - -

20 20 20 20 235

4,202.66 4,202.66 4,202.66 4,202.66 50,431.98

61.00 61.00 61.00 61.00 732.05

79.20 79.20 79.20 79.20 950.40

15.57 15.57 15.57 20.58 191.83

12.20 12.20 12.20 12.20 146.41

79.20 79.20 79.20 79.20 950.40

95.47 95.47 95.47 95.47 1,145.63

42.03 42.03 42.03 42.03 504.32

63.36 63.36 63.36 63.36 760.3225.95 25.95 25.95 34.30 319.72

25.95 25.95 25.95 34.30 319.72

180.00 180.00

-

-

834.75 834.75

4,702.59 4,702.59 4,702.59 5,739.04 57,467.53

-

20 20 20 20 235

0 0 0 0 -0 0 0 0 -

20 20 20 20 235

265.00 265.00 265.00 265.00 265.00

5,189.58 5,189.58 5,189.58 5,189.58 62,275.00

1,669.50 1,669.50

5,189.58 5,189.58 5,189.58 6,859.08 63,944.50

-

5,189.58 5,189.58 5,189.58 6,859.08 63,944.50

-

5,189.58 5,189.58 5,189.58 6,859.08 63,944.50

4,702.59 4,702.59 4,702.59 5,739.04 57,467.53



2016 2017 2017 2017

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2016 2017 2017 2017

20 20 20 20 235214.60 214.60 214.60 214.60 2,575.25

4,202.66 4,202.66 4,202.66 4,202.66 50,431.98

0 0 0 0 0

- - - - -

- - - - -

20 20 20 20 235

4,202.66 4,202.66 4,202.66 4,202.66 50,431.98

67.10 67.10 67.10 67.10 805.26

95.04 95.04 95.04 95.04 1,140.48

15.57 15.57 15.57 24.31 195.57

13.42 13.42 13.42 13.42 161.05

95.04 95.04 95.04 95.04 1,140.48

90.70 90.70 90.70 90.70 1,088.34

42.03 42.03 42.03 42.03 504.32

76.03 76.03 76.03 76.03 912.3825.95 25.95 25.95 40.52 325.95

25.95 25.95 25.95 40.52 325.95

-

-

-

1,457.50 1,457.50

4,749.49 4,749.49 4,749.49 6,244.88 58,489.26

20 20 20 20 235

0 0 0 0 00 0 0 0 0

20 20 20 20 235

265.00 265.00 265.00 265.00 265.00

5,189.58 5,189.58 5,189.58 5,189.58 62,275.00

2,915.00 2,915.00

5,189.58 5,189.58 5,189.58 8,104.58 65,190.00

-

5,189.58 5,189.58 5,189.58 8,104.58 65,190.00

-

5,189.58 5,189.58 5,189.58 8,104.58 65,190.00

4,749.49 4,749.49 4,749.49 6,244.88 58,489.26



2017 2018 2018 2018

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20 20 20 20 235214.60 214.60 214.60 214.60 2,575.25

4,202.66 4,202.66 4,202.66 4,202.66 50,431.98

0 0 0 0 0

- - - - -

- - - - -

20 20 20 20 235

4,202.66 4,202.66 4,202.66 4,202.66 50,431.98

73.82 73.82 73.82 73.82 885.78

114.05 114.05 114.05 114.05 1,368.58

15.57 15.57 15.57 28.05 199.31

14.76 14.76 14.76 14.76 177.16

114.05 114.05 114.05 114.05 1,368.58

100.24 100.24 100.24 100.24 1,202.91

42.03 42.03 42.03 42.03 504.32

91.24 91.24 91.24 91.24 1,094.8625.95 25.95 25.95 46.75 332.18

25.95 25.95 25.95 46.75 332.18

-

-

-

2,080.25 2,080.25

4,820.31 4,820.31 4,820.31 6,954.65 59,978.06

20 20 20 20 235

0 0 0 0 00 0 0 0 0

20 20 20 20 235

265.00 265.00 265.00 265.00 265.00

5,189.58 5,189.58 5,189.58 5,189.58 62,275.00

4,160.50 4,160.50

5,189.58 5,189.58 5,189.58 9,350.08 66,435.50

5,189.58 5,189.58 5,189.58 9,350.08 66,435.50

-

5,189.58 5,189.58 5,189.58 9,350.08 66,435.50

4,820.31 4,820.31 4,820.31 6,954.65 59,978.06


Column2 Column3

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000000M/s. R K Wind Limted, New Delhi

IRR Computation

Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8

2010 - 11 2011 - 12 2012 - 13 2013 - 14 2014 - 15 2015 - 16 2016 - 17 2017 - 18

Free Cashflow to Project

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Free Cashflow to Project

EBIDTA - 2,982.58 4,685.99 6,316.39 6,232.78 6,574.97 6,798.74 6,555.44

EBIDTA*(1-Tax Rate) - 2,982.58 3,841.01 4,514.90 4,339.01 4,481.35 4,593.32 4,392.14

Add: Depreciation*Tax Rate - - 111.38 162.16 159.17 153.84 144.66 135.98

Less: Capital Expenditure for the year 10,504.61 - - - - - -

Less: Change in Working Capital - 8,692.71 883.36 2,329.02 241.11 108.25 122.75 83.83

19,382.55

FCF to Project - (16,214.74) 3,069.03 2,348.05 4,257.07 4,526.93 4,615.23 23,826.84

Project IRR (%) 24.12%

Project NPV (INR Mn) 8,139.24

Free Cashflow to EquityFCF to Project - (16,214.74) 3,069.03 2,348.05 4,257.07 4,526.93 4,615.23 23,826.84

Less: Interest*(1-Tax rate) - 503.62 487.61 347.90 263.54 184.30 109.61 36.23

Add: net borrowing 4,992.00 (832.00) (832.00) (832.00) (832.00) (832.00) (832.00)

19,382.55

FCF to equity - (11,726.36) 1,749.42 1,168.14 3,161.53 3,510.63 3,673.62 42,341.15

Equity IRR (%) 35.89%

Equity NPV (INR Mn) 16,426.79

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Important disclosures, disclaimers

This financial model has been preparedinformation provided by the Company, nwith it, makes any expressed or impliedreasonableness of the information set fo

to this financial model, and unless specimodel is provided with at any time. Thiinformation and analysis contained hereprejudice and does not constitute an off

Ernst & Young

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by Ernst & Young Private Limited (E&Y) on the basis of publicly available ieither of which has been independently verified by E&Y. Neither E&Y, norrepresentation or warranty with respect to the sufficiency, accuracy, comrth in this financial model, nor do they owe any duty of care to any recipie

ically pre-agreed in writing, in relation to any other information which a refinancial model is being furnished on a strictly confidential basis; neitherin may be reproduced or passed to any third person. This financial modelr to sell or issue any shares in, or sell any underlying assets of the Comp

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nformation andany person associatedleteness ornt of this note in relation

cipient of this financialthis model nor thehas been prepared withoutny or an invitation to offer.

Summary Results

Input (Cells in Blue colour can be only be changed)

Target Sales Price of Machine (Rs. Crore) Inclusive of taxes

RSIGEL Utility Other clients

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y

WTN 646 2.65 2.65 2.65

WTN 1000 5.00

Output

Project IRR (%) 24.12%

Project NPV (INR Mn) 8,139.24

Equity IRR (%) 35.89%

Equity NPV (INR Mn) 16,426.79

Summary

Indeginsed cost

2.15

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Input Summary RK Wind Private Limited

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Input Summary - RK Wind Private Limited

Machines related

Year Total Production Project Finance

Machines Year 1 50 Equity 41%

Year 2 135 Debt 59%

Year 3 180 Total Cost 1,351.35 Rs Million

Year 4 235 Land 81.3 Rs Million

Year 5 235 Plant And machinery 389.8 Rs Million

Year 6 235 Factory Bld 198.0 Rs Million

Year 7 235 Technology 387.4 Rs Million

Pre Operative Cost 24.1 Rs MillionMargin for Working Capital 280.7 Rs Million

WTN: Machine Parts Operations

Indegenised Partwise Costs Part Cost ( INR Million)

in Rs Million Nacelle frame 0.055 Electricity Costs 50 Rs Million

Gearbox with main shaft 0.410 Manpower Costs 50 Rs Million

Blades 0.225 Admin Overheads 10 Rs Million

Generator 0.116 Repairs and Maintainance 50 Rs MillionConverter 0.230 Average Transportation 120 Rs Million

Yaw System 0.044 Other Manufacturing Expenses 40 Rs Million

Pitch System 0.040

Rotor 0.058

Tower 0.540 Others

Brake System 0.008 Loan Tenure 7 Years

Couplings 0.010 Interest Rate 13%

Nacelle cover 0.019 Int on WC 13.50%

Electricals 0.072 Corp Tax 33%

Slip ring 0.007 MAT 18.00%Control Panel 0.150 Sales price for machine 2.65 Rs Cr.

Others 0.162

Output Summary - RK Wind Private Limited

Projected Profitability Statement

Column1 Y1 Y2 Y3 Y4 Y5

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Column1 Y1 Y2 Y3 Y4 Y5

Total (INR Lacs) FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

Net Revenue - 32,595.00 47,700.00 61,303.33 62,990.50Net operations Exp - 29,710.42 43,112.01 55,084.94 56,855.72

EBIDTA - 2,982.58 4,685.99 6,316.39 6,232.78

Less: Interest on Term loan - 503.62 594.88