3 Statement Model Strictly Confidential

Table of Contents
3 Statement Model

Notes
This Excel model is for educational purposes only and should not be used for any other reason.
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https://corporatefinanceinstitute.com/
© Corporate Finance Institute®. All rights reserved. Historical Results
FINANCIAL STATEMENTS 2012 2013 2014 2015 2016
Balance Sheet Check OK OK OK OK OK

Assumptions
Income statement 38 41 37 37 38
Revenue Growth (% Change) 15.8% 11.2% 8.4% 5.9%
Cost of Goods Sold (% of Revenue) 38.3% 40.7% 37.4% 37.4% 38.0%
Salaries and Benefits ($000's) 26,427 22,658 23,872 23,002 25,245
Rent and Overhead ($000's) 10,963 10,125 10,087 11,020 11,412
Depreciation & Amortization (% of PP&E Open Bal) 39.0% 39.9% 40.6% 41.2% 41.7%
Interest (% of Debt Open Bal) 5.0% 5.0% 3.0% 3.0% 3.0%
Tax Rate (% of Earnings Before Tax) 31.2% 29.2% 28.7% 29.0% 29.1%
Balance Sheet
Accounts Receivable (Days) 18 18 18 18 18
Inventory (Days) 73 73 73 72 72
Accounts Payable (Days) 37 37 37 36 36
Capital Expenditures ($000's) 15,000 15,000 15,000 15,000 15,000
Debt Issuance (Repayment) ($000's) - - (20,000) - -
Equity Issued (Repaid) ($000's) 170,000 - - - -

Income Statement
Reveneue 102,007 118,086 131,345 142,341 150,772
Cost of Goods Sold (COGS) 39,023 48,004 49,123 53,254 57,310
Gross Profit 62,984 70,082 82,222 89,087 93,462
Expenses
Salaries and Benefits 26,427 22,658 23,872 23,002 25,245
Rent and Overhead 10,963 10,125 10,087 11,020 11,412
Depreciation & Amortization 19,500 18,150 17,205 16,544 16,080
Interest 2,500 2,500 1,500 900 900
Total Expenses 59,390 53,433 52,664 51,466 53,637
Earnings Before Tax 3,594 16,649 29,558 37,622 39,825

Taxes 1,120 4,858 8,483 10,908 11,598

Net Earnings 2,474 11,791 21,075 26,713 28,227
31 29 29 29 29
© Corporate Finance Institute®. All rights reserved. Historical Results
FINANCIAL STATEMENTS 2012 2013 2014 2015 2016
Balance Sheet Check OK OK OK OK OK

Balance Sheet
Assets
Cash 167,971 181,210 183,715 211,069 239,550
Accounts Receivable 5,100 5,904 6,567 7,117 7,539
Inventory 7,805 9,601 9,825 10,531 11,342
Property & Equipment 45,500 42,350 40,145 38,602 37,521
Total Assets 226,376 239,065 240,252 267,319 295,951

Liabilities
Accounts Payable 3,902 4,800 4,912 5,265 5,671
Debt 50,000 50,000 30,000 30,000 30,000
Total Liabilities 53,902 54,800 34,912 35,265 35,671
Shareholder's Equity
Equity Capital 170,000 170,000 170,000 170,000 170,000
Retained Earnings 2,474 14,265 35,340 62,053 90,280
Shareholder's Equity 172,474 184,265 205,340 232,053 260,280
Total Liabilities & Shareholder's Equity 226,376 239,065 240,252 267,319 295,951

Check 0.000 0.000 0.000 0.000 0.000

© Corporate Finance Institute®. All rights reserved. Historical Results
FINANCIAL STATEMENTS 2012 2013 2014 2015 2016
Balance Sheet Check OK OK OK OK OK

Cash Flow Statement

Operating Cash Flow
Net Earnings 2,474 11,791 21,075 26,713 28,227
Plus: Depreciation & Amortization 19,500 18,150 17,205 16,544 16,080
Less: Changes in Working Capital 9,003 1,702 775 903 827
Cash from Operations 12,971 28,239 37,505 42,354 43,480

Investing Cash Flow

Investments in Property & Equipment 15,000 15,000 15,000 15,000 15,000
Cash from Investing 15,000 15,000 15,000 15,000 15,000

Financing Cash Flow

Issuance (repayment) of debt - - (20,000) - -
Issuance (repayment) of equity 170,000 - - - -
Cash from Financing 170,000 - (20,000) - -

Net Increase (decrease) in Cash 167,971 13,239 2,505 27,354 28,480

Opening Cash Balance - 167,971 181,210 183,715 211,069
Closing Cash Balance 167,971 181,210 183,715 211,069 239,550

Check 0.000 0.000 0.000 0.000 0.000

© Corporate Finance Institute®. All rights reserved. Historical Results
FINANCIAL STATEMENTS 2012 2013 2014 2015 2016
Balance Sheet Check OK OK OK OK OK

Supporting Schedules
Working Capital Schedule
Accounts Receivable 5,100 5,904 6,567 7,117 7,539
Inventory 7,805 9,601 9,825 10,531 11,342
Accounts Payable 3,902 4,800 4,912 5,265 5,671
Net Working Capital (NWC) 9,003 10,705 11,480 12,382 13,210
Change in NWC 9,003 1,702 775 903 827

Depreciation Schedule
PPE Opening 50,000 45,500 42,350 40,145 38,602
Plus Capex 15,000 15,000 15,000 15,000 15,000
Less Depreciation 19,500 18,150 17,205 16,544 16,080
PPE Closing 45,500 42,350 40,145 38,602 37,521
39 40 41 41 42
Debt & Interest Schedule
Debt Opening 50,000 50,000 50,000 30,000 30,000
Issuance (repayment) - - (20,000) - -
Debt Closing 50,000 50,000 30,000 30,000 30,000
Interest Expense 2,500 2,500 1,500 900 900
COLGATE

Hostorical Data
INCOME STATEMENT
15-16 16-17 17-18 18-19 19-20
Revenue from Operations 4613 4489 4299 4432 4487
Other Income 39 41 38 37 49
Total Revenue 4652 4530 4337 4469 4536

Expenses
Cost of Materials Consumed 1145 1155 1188 1328 1350
Changes in Inventories 459 514 156 6 -4
Employee Benefits 269 288 305 295 332
Finance Cost 1 1 1 2 9
Depre/Amortization 111 133 156 159 197
Other Exp 1465 1273 1279 1371 1418
Total Expenses 3450 3364 3085 3161 3302

Profit 1202 1166 1252 1308 1234

BALANCE SHEET
ASSETS 15-16 16-17 17-18 18-19 19-20
Fixed Assets 1008 2232 3270 4701 5721
Capital WIP 0 166 158 198 190
Investments 30 31 31 31 18
Stock/Inventories 292 292 226 248 296
Debtors/Accounts Receivable 101 129 201 209 132
Cash/Bank Balances 288 294 456 399 421
Loans & Advances 144 288 344 348 421
1863 3432 4686 6134 7199

LIABILITIES
Current Liabilities 323 660 559 519 350
Creditors/Accounts Payable 200 300 400 500 550
Debt 0 0 0 77 0
Provisions 110 76 79 82 109

Shareholders Equity
Equity 28 28 28 28 28
Reserves & Surplus 1202 2368 3620 4928 6162
1863 3432 4686 6134 7199
diff 0 0 0 0 0
1308
WORKING CAPITAL 15-16 16-17 17-18 18-19 19-20

CASH FLOW STATEMENT

OPERATING CASH FLOW 15-16 16-17 17-18 18-19 19-20
Net Profit (cl res- op res) 1202 1166 1252 1308 1234
Add - NC/NO Expenses
Finance Cost
Dep / Amortization
Less - Changes in NWC -96 -231 60 -106 213
Cash From Operations 1106 1397 1192 1414 1021

INVESTING CASH FLOW

Fixed Assets -1224 -1038 -1431 -1020
Capital WIP -166 8 -40 8
Investments -1 0 0 13
Cash from Investing Activities -1391 -1030 -1471 -999

FINANCING CASH FLOW 0 0 0 0

TOTAL CASH FLOW 6 162 -57 22

Add Opn Cash Balance 288 294 456 399
Closing Cash Balance 294 456 399 421
diff 0 0 0 0
 Comon Size Trend Analysis

15-16 16-17 17-18 18-19 19-20 15-16 16-17 17-18 18-19

99 99 99 99 99 100 97 96 103
1 1 1 1 1 100 105 93 97
100 100 100 100 100 100 97 96 103

25 25 26 29 29 100 101 103 112

10 11 3 0 - 0 100 112 30 4
6 6 7 6 7 100 107 106 97
0 0 0 0 0 100 100 100 200
2 3 3 3 4 100 120 117 102
31 27 27 29 30 100 87 100 107
74 72 66 68 71 100 98 92 102

26 28 34 32 29 100 97 107 104

sis Comparative (Percentage of Growth) Projected Dat

19-20 15-16 16-17 17-18 18-19 19-20 20-21

101 -2.69% -4.23% 3.09% 1.24% 4532
132 5.13% -7.32% -2.63% 32.43% 49
101 4581

102 0.87% 2.86% 11.78% 1.66% 1374

- 67 11.98% -69.65% -96.15% -166.67% 46
113 7.06% 5.90% -3.28% 12.54% 366
450 0.00% 0.00% 100.00% 350.00% 0
124 19.82% 17.29% 1.92% 23.90% 137
103 -13.11% 0.47% 7.19% 3.43% 1283
104 3207

94 1374

20-21
5679
97
18
stock/COGS*365=33 281
BR/Reveu*365=13 186
=x/4532*365 = 13 1,734
=x=13/365*4532 379
161.4137 8374

325
BP/COGS*365=47 401
0
85

28
7536
8,374
0
20-21

20-21

1374

196
1,178

42
93
-
135

1,313
421
1,734
 Projected Data Assumption

21-22 22-23 23-24 24-25

4532 4533 4534 4535 1.00% 1% growth over the last year
49 49 49 49 0.05% 0.05% groth over the years
4581 4582 4583 4584

1374 1375 1375 1375 30% 25% of the total Revenue

46 46 46 46 1% 1% pf the total revenue
366 366 366 366 8% 6% of the total revenue
0 0 0 0 0% No finance costs
137 137 137 137 3% 3% of the total revenue
1283 1283 1283 1283 28% 30% of the total revenue
3207 3207 3207 3208

1374 1375 1376 1376

21-22 22-23 23-24 24-25

5,590 5,477 5,354 5,224 Assuming 50% of CWIP is capitalised in CY - CY Dep
51 27 16 10 Assuming 2 lacs of CWIP every year
18 18 18 18 No further investments are projected
281 281 281 282 33 Assuming avg 33 days time
186 186 186 186 15 Assuming avg 13 days time
3,245 4,763 6,279 7,793
341 307 276 249 Assuming company gets back 10% of the advances given i
9711 11060 12411 13762

300 275 250 225 25 Assuming CL are paid 25 lacs in each year
401 401 401 401 47 Assuming avg 47 days time
0 0 0 0 0 Assuming no debt is availed
72 71 71 70 Assuming 50% of the provisions are paid in CY + new prov

28 28 28 28 28 Assuming no equity is issued

8911 10285 11661 13038
9,711 11,060 12,411 13,762
0 0 0 0
21-22 22-23 23-24 24-25

21-22 22-23 23-24 24-25

1374 1375 1376 1376

- 1 - 8 - 5 - 2
1,375 1,383 1,381 1,379

89 112 124 130

47 23 12 6
- - - -
135 135 135 135

0 0 0 0

1,510 1,518 1,516 1,514

1,734 3,245 4,763 6,279
3,245 4,763 6,279 7,793
sed in CY - CY Dep

% of the advances given in CY. No new advances are given in CY

are paid in CY + new provisions are made for Rs.30 lacs for 20-21 & 21-22 & Rs.35 lacs for rest of the projected years
Amar Raja Batteries Limited

Assumptions
INCOME STATEMENT

Revenue from Operations 1% Assuming 2% growth rate over the years

COGS 70% Assuming 63% of Sales
Total GP GP

Expenses
Employee Benefit 5% Assuming 5% of total revenue
Finance Costs 6.00 Assuming 6
Depren & Amortization 4% Assumin g4% of total revenue
Other Expenses 12% Assuming 12% of total revenue

Profit

BALANCE SHEET
ASSETS
Fixed Assets
Tangibles & Intangibles Assuing 20% addition from Capital WIP & Deducting cy depreciation
Capital WIP Flowing from FA schdule
Non Current Investments Assuming addition of 2 lacs every 2 years
Other Non Current Assets Assuing 25% additions and 35% deductions of op balance

Current Assets
Investments Assuming constant
Inventories 85 Assuming 85 days
Trade Receivables 40 Assuming Debtors term 40days
Cash & Cash Equivalents
Short Term Loans & Advances
Other Current Assets Assuing 25% additions and 35% deductions of op balance

Total Assets

LIABILITIES
Non Current Liabilities
Long Term Borrowing 10% Assuming 10% repayment every year
Deferred Tax Liabities Assuming it is constant
Other Long Term Liabilities Assuming 10% increase + 25% decrease
Long Term Provisions Assuming 10% increase + 25% decrease

Current Liabilities
Short Term Borrowing Assuming constant
Trade Payables 45 Assuming Creditors term 45 days
Other Current Liabilities 29 Assuming Credit term 29 days
Short Term Provisions 10 assuming 10% decrease

Shareholders Equity
Equity Capital No equity is issued
Reserves & Surplus

Total
diff

FIXED ASSETS SCHEDULE

WORKING CAPITAL

CASH FLOW STATEMENT

RATIOS
ducting cy depreciation

f op balance

f op balance
 Prepare a cash budget in respect of 6 months from July to December from the information given in the tabl
Overheads
Month Credit Sales Materials Wages Production Admin Selling
April 100000 40000 10000 4400 3000 1600
May 120000 60000 11200 4800 2900 1700
June 80000 40000 8000 5600 3000 1500
July 100000 60000 8000 4600 2900 1400
August 120000 70000 10000 5600 3000 1900
Sept 140000 80000 10000 5400 3000 2000
Oct 160000 90000 10000 5800 3100 2250
Nov 180000 100000 11000 6000 3100 2150
Dec 200000 110000 11600 6400 2200 2300

Cash balance as on July 1 was expected to be Rs.150000

Expected capital Expenditure
1 Plant & machinery to be installed in August at a cost of Rs.40000 will be payable on september 1
2 Extension to R&D department of Rs.10000 will be completed on August 1, payable Rs.2000 per month fro
3 Under a hire purchase agreement, Rs.4000 is to be paid each month

4 Cash sales of Rs.2000 per month are expected. No commission is payable

5 A sales commission of 5% on (Credit) sales is to be paid within the month following the sales
6 Period of credit allowed by suppliers 3 months
7 Period of credit allowed to customers 2 months
8 Delay in payment of overheads 1 month
9 Delay in payment of wages 1 month

10 Income tax of Rs.100000 is due to be paid on October 1.

11 Preference share dividend of 10% on Rs.200000 is to be paid on November 1
12 10% calls on ordinary share capital of Rs.400000 is due on July 1 and September 1
13 Dividend from investments amounting to Rs.30000 is expected on November 1
formation given in the table
eads
Distribution R&D
800 1000
900 1000
700 1200
900 1200
1100 1400
1200 1400
1250 1600
1250 1500
1500 1600

e on september 1
ble Rs.2000 per month from completion date

wing the sales

 CASH BUDGET FOR THE MONTH OF JULY TO DECEMBER

Particualrs July Aug

Opening Balance 150000 164000
Add Receipts

Cash Sales 2000 2000

Credit Sales - Realisation after 2 months 2 120000 80000
Dividend from shares
Total Receipts 122000 82000

Less Payments
Plant & Machinery Installed
R&D Extension 2000
Hire Purchase Payments 4000 4000
Commission @5% on Cr Sales 5% 4000 5000
Suppliers payment - for Materials 3 40000 60000
Payment of Overheads
Production 5600 4600
Admin 3000 2900
Selling 1500 1400
Distribution 700 900
R&D 1200 1200
Wages Payment\ 8000 8000
Income Tax
Preference shares dividend
10% calls on share capital of Rs.4 lacs 40000
Total Payments 108000 90000

Closing Balance 164000 156000

Sept Oct Nov Dec
156000 103000 29000 73000

2000 2000 2000 2000

100000 120000 140000 160000
30000
102000 122000 172000 162000

40000
2000 2000 2000 2000
4000 4000 4000 4000
6000 7000 8000 9000
40000 60000 70000 80000

5600 5400 5800 6000

3000 3000 3100 3100
1900 2000 2250 2150
1100 1200 1250 1250
1400 1400 1600 1500
10000 10000 10000 11000
100000
20000
40000
155000 196000 128000 120000

103000 29000 73000 115000

Deepak Fertilizers & Petrochemicals Limited
Revenue Statement

BALANCE SHEET

WORKING CAPITAL SCHEDULE

Fixed Assets Schedule

CASH FLOW STATEMENT

Assumptions
ASSUMPTIONS Mar-17 Mar-18
Revenue from Operations (% Growth Rate) 21.12
Other Operating Revenue (% growth rate) 42.50
Other Income (% age of Revenue from Operations) 2.04 2.67
COGS (% of Total Revenue) 63 70
Operating & Direct Expenses (% age of total Revenue) 1 1
Employee Benefit Expenses (% age of total revenue) 8 6
Finance Cost (% age on Cl. Bal of LT Borrowing) 11 13
Depre (% age on cl bal of total Tan & Intang Assets) 15 14
Other Expenses (% age of total revenue 16 15
Taxes (assuming 30% of Profit Before Tax)

Equity Capital 679 679

Other Long Term Liabilities (Addition/Repayment) 1,451 502
Long Term Provisions 892 1,009
Short Term Borrowings 5,159 3,100
Trade Payables (no of days) 133 122
Other current Liabilities 4,440 6,031
Short Term Provisions 477 863
Tangible Assets
Intangible Assets
Capital WIP
Non current Investments 14,858 14,261
Long Term Loans & Advances 391 144
Other Non current Assets 2,827 3,036

Current Investments 2,437 2,503

Inventories (No of Days) 65 48
Trade Receivables (No of Days) 16 21
Short Term Loans & Advances 216 140
Other Current Assets 2,096 2,383

INCOME STATEMENT Historical Dat

Particualrs Mar-17 Mar-18
Revenue from Operations 48,079 58,234
Other Operating Revenue 976 1,390
Other Income 981 1,558
Total Revenue 50,036 61,182

Expenses
Cost of Materials Consumed 27,652 37,080
Purchase of Stock in Trade 3,946 4,762
Changes in Inventories -252 842
Operating & Direct Expenses 454 475
Employee Benefit Expenses 3,764 3,967
Finance Costs 1,569 1,744
Depreciation & Amortization 3,037 3,102
Other Expenses 8,083 9,251
Total Expenses 48,254 61,224
Taxes 57.06 92.63
Profit After Tax 1,725 -135

BALANCE SHEET Mar-17 Mar-18

Equity & Liabilities
Equity Capital 679 679
Reserves & Surplus 13,537 14,231
Current years profit/loss 1,725 1,590

Non Current Liabilities

Long Term Borrowings 13,686 13,156
Other Long Term Liabilities 1,451 502
Long Term Provisions 892 1,009

Current Liabilities
Short Term Borrowings 5,159 3,100
Trade Payables 11,462 14,226
Other current Liabilities 4,440 6,031
Short Term Provisions 477 863
Total Equity & Liabilities 53510 55387

ASSETS
Fixed Assets
Tangible Assets 17,897 18,193
Intangible Assets 2,876 3,411
Capital WIP 1,903 1,371

Non Current Assets

Non current Investments 14,858 14,261
Long Term Loans & Advances 391 144
Other Non current Assets 2,827 3,036

Current Assets
Current Investments 2,437 2,503
Inventories 5,553 5,670
Trade Receivables 2,128 3,480
Short Term Loans & Advances 216 140
Other Current Assets 2,096 2,383
Cash & Cash Equivalents 327 795
Total Assets 53,510 55,387
diff 0 0

DEBT SCHEDULE Mar-17 Mar-18

DEPRECIATION SCHEDULE Mar-17 Mar-18

WORKING CAPITAL CHANGES SCHEDULE Mar-17 Mar-18

CASH FLOW STATEMENT Mar-17 Mar-18

Operating Cash Flow
Net Profit (R/S + Profit) 558
Less - Change in Working Capital 935
Investing Activities Cash Flow
Addition to Tangible Assets (Cash Outflow) -295
Addition to Intangible Assets (Cash Outflow) -535
Additon (outflow) / Capitalisation (inflow) of WIP 531
Non current Investments 598
Long Term Loans & Advances 248
Other Non current Assets -208
(PY - CY)

Finacing Activities Cash Flow (CY-PY)

Issue of Equity Capital 0
Long Term Borrowings -530
Other Long Term Liabilities -949
Long Term Provisions 117

Total Cash increase/Decrease 469

Add - Opening Cash Balance 327
Closing Cash Balance 795

actual cash balance 795

diff 0
 Mar-19 Mar-20 Mar-21 Mar-22
18.08 -36.76 7.07 6%
-68.51 1.03 6.71 4%
3.72 3.18 1.81 1.00%
71 72 74 65%
1 2 2 2%
6 10 9 8%
13 13 14 13%
14 13 14 14%
14 18 12 12%
30%

679 720 766 0

404 1,647 1,787 13
1,282 1,770 1,372 18
3,618 6,121 2,543 17
75 91 84 84
7,766 10,180 14,551 -500
1,149 1,407 1,044 -44
500
100
-200
15,434 15,731 16,115 -5000
143 138 126 4
3,530 3,449 3,535 -500

1,433 885 1,578 -578

34 43 47 47
17 16 16 16
200 232 185 -5
2,377 3,109 3,133 -50

Historical Data Projec

Mar-19 Mar-20 Mar-21 Mar-22
68,765 43,486 46,559 49,353
438 442 472 491
2,555 1,383 843 494
71,757 45,311 47,874 50,337

43,749 26,172 30,011 32719.34

6,722 5,680 5,491
145 723 -69
572 830 908 1,007
4,273 4,384 4,213 4,027
1,794 1,973 2,359 2,058
3,099 3,375 3,682 3,783
9,896 7,960 5,804 6,040
70,249 51,097 52,397 49,634
294.66 33.05 82.31 162
1,214 -5,819 -4,604 541

Mar-19 Mar-20 Mar-21 Mar-22

679 720 766 766

14,745 18,142 24,570 0
2,804 -3,015 -7,619 17,492

13,915 14,777 16,327 15,827

404 1,647 1,787 1,800
1,282 1,770 1,372 1,390

3,618 6,121 2,543 2,560

10,409 8,102 8,115 7,530
7,766 10,180 14,551 14,051
1,149 1,407 1,044 1,000
 56770 59850 63454 62414

18,317 19,540 19,922 20,422

3,970 5,668 6,501 6,601
2,147 1,756 1,401 1,201

15,434 15,731 16,115 11,115

143 138 126 130
3,530 3,449 3,535 3,035

1,433 885 1,578 1,000

4,662 3,832 4,552 4,213
3,251 1,978 2,088 2,207
200 232 185 180
2,377 3,109 3,133 3,083
1,307 3,532 4,319 9,228
56,770 59,851 63,454 62,415
0 0 0 0

Mar-19 Mar-20 Mar-21 Mar-22

Mar-19 Mar-20 Mar-21 Mar-22

Mar-19 Mar-20 Mar-21 Mar-22

Mar-19 Mar-20 Mar-21 Mar-22

1,729 -2,423 1,824 541

975 4,756 -1,058 -260
 -124 -1,224 -382 -500
-559 -1,698 -833 -100
-776 391 355 200
-1,173 -297 -384 5,000
1 5 12 -4
-494 81 -86 500

0 40 46 0
759 862 1,550 -500
-98 1,242 140 13
272 488 -398 18

512 2,225 787 4,909

795 1,307 3,532 4,319
1,307 3,532 4,319 9,228

1,307 3,532 4,319

0 0 0
Mar-23 Mar-24 Mar-25 Mar-26
6% 6% 6% 6%
4% 4% 4% 4%
1.00% 1.00% 1.00% 1.00%
65% 68% 68% 68%
2% 2% 2% 2%
8% 8% 8% 8% MFG units
13% 13% 13% 13%
14% 14% 14% 14%
12% 12% 12% 12%
0% 0% 0% 0% Trucks 500

0 0 0 0
-100 -50 -25 -50
-200 -100 -125 -125
10 -90 -25 -110
84 84 84 84
-100 -100 -125 -135
10 -20 -100 -200
-450 -1000 -1000 500
-250 -800 -900 600
-200 -200 -200 200
-5000 200 300 -1000
-10 12 15 17
520 100 -250 -350

500 100 -250 250

47 47 47 47
16 16 16 16
10 -5 -15 25
25 -10 8 35

Projected Data Cars 1000

Mar-23 Mar-24 Mar-25 Mar-26 Pick Van 300
 52,314 55,453 58,780 62,307 Mini Bus 100
511 531 552 574 sale of spare parts
523 555 588 623 Services provided
53,348 56,539 59,920 63,504

34676.118 38446.203 40745.753 43182.988 COGS

1,067 1,131 1,198 1,270

4,268 4,523 4,794 5,080
2,032 1,993 1,980 1,967
7,469 7,915 8,389 8,891
6,402 6,785 7,190 7,621
55,913 60,793 64,297 68,011
- - - -
-2,565 -4,254 -4,376 -4,507

Mar-23 Mar-24 Mar-25 Mar-26

766 766 766 766

0 0 0 0
14,927 10,673 6,296 1,790

15,627 15,327 15,227 15,127

1,700 1,650 1,625 1,575
1,190 1,090 965 840

2,570 2,480 2,455 2,345

7,980 8,848 9,377 9,938
13,951 13,851 13,726 13,591
1,010 990 890 690
 59719 55673 51326 46660

19,972 18,972 17,972 18,472

6,351 5,551 4,651 5,251
1,001 801 601 801

6,115 6,315 6,615 5,615

120 132 147 164
3,555 3,655 3,405 3,055

1,500 1,600 1,350 1,600

4,465 4,951 5,247 5,561
2,339 2,478 2,627 2,784
190 185 170 195
3,108 3,098 3,106 3,141
11,005 7,936 5,436 23
59,720 55,673 51,326 46,661
0 0 0 0

Mar-23 Mar-24 Mar-25 Mar-26

Mar-23 Mar-24 Mar-25 Mar-26

Mar-23 Mar-24 Mar-25 Mar-26

Mar-23 Mar-24 Mar-25 Mar-26

-2,565 -4,254 -4,376 -4,507

-549 -53 92 -665
 450 1,000 1,000 -500
250 800 900 -600
200 200 200 -200
5,000 -200 -300 1,000
10 -12 -15 -17
-520 -100 250 350

0 0 0 0
-200 -300 -100 -100
-100 -50 -25 -50
-200 -100 -125 -125

1,776 -3,069 -2,499 -5,414

9,228 11,005 7,936 5,436
11,005 7,936 5,436 23
Price Rs

1500000 750000000

500000 500000000
800000 240000000
1000000 100000000
 15262 15821
Net Profit after Tax 559 559
Add NON Cash * Non Operating Exp
Depre
Finance Cost
Transfer to R/S
Less Changes in WC -935 935 -935

Financing Activities
repayment of borrow -530
olt liab -949
Finance cost

olt provision 117 -1362 -3106

Investment Actvities
asssets -295
intangible -535
transafer of capex 531
investment sale 598
LT L&A 248
onc asset -208 339

471
on cash balance 327
798

795
diff 3