ICICI Banking Corporation Ltd.

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM II - OPERATING STATEMENT
Name:
Amounts in Rs. Crore
Last 2 Years Actuals Current Yr. Next Year
(As per audited accounts) Estimates Projections
Year 1999 2000 2001 2002
No.of months 12 12 12 12
1. Gross Sales
i. Domestic Sales
ii. Export Sales
Total
2. Less Excise Duty
3. Net Sales (1 - 2)
4. % age rise (+) or fall (-) in net sales
as compared to previous year (annualised ) N/A N/A N/A N/A
5. Cost of Sales
i. Raw materials (including stores and
other items used in the process of
manufacture)
a. Imported
b. Indigenous
ii. Other Spares
a. Imported
b. Indigenous
iii. Power and Fuel
iv. Direct Labour (Factory wages & salaries)
v. Other manufacturing expenses
vi. Depreciation
vii. Sub-total (i to vi)
viii. Add: Opening Stock-in-process
Sub-total (vii + viii)
ix. Deduct: Closing Stock-in-process
x. Cost of Production
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ICICI Banking Corporation Ltd.
xi. Add: Opening Stock of finished goods
Sub-total (x + xi)
xii. Deduct: Closing Stock of finished goods
xiii. Sub-total (Total Cost of Sales)
6. Selling, general and administrative expenses
7. Sub-total (5 + 6)
8. Operating Profit before Interest (3 - 7)
9. Interest
10. Operating Profit after Interest (8 - 9)
11. i. Add: Other non-operating Income
a.
b.
c.
d.
Sub-total (Income)
ii. Deduct: Other non-operating expenses
a.
b.
c.
d.
Sub-total (Expenses)
iii. Net of other non-operating income /
expenses [net of 11(i) & 11(ii)]
12. Profit before tax/loss [10 + 11(iii)]
13. Provision for taxes
14. Net Profit / Loss (12 -13)
15. a. Equity dividend paid-amount
(Already paid + B.S. provision)
b. Dividend Rate (% age)
16. Retained Profit (14 - 15)
17. Retained Profit / Net Profit (% age)
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ICICI Banking Corporation Ltd.
FORM III - ANALYSIS OF BALANCE SHEET
LIABILITIES
Name:
Amounts in Rs. Crore
Last 2 Years Actuals Current Yr. Next Year
(As per audited BS) Estimates Projections
Year 1999 2000 2001 2002
No.of months 12 12 12 12
CURRENT LIABILITIES
1. Short-term borrowing from banks (including
bills purchased, discounted & excess
borrowing placed on repayment basis)
i. From applicant bank
ii. From other banks
iii. (of which BP & BD)
Sub-total [i + ii] (A)
2. Short term borrowings from others
3. Sundry Creditors (Trade)
4. Advance payments from customers /
deposits from dealers
5. Provision for taxation
6. Dividend payable
7. Other statutory liabilities (due within 1 year)
8. Deposits / instalments of term loans /
DPGs / debentures etc. (due within 1 year)
9. Other current liabilities & provisions
(due within 1 year) - specify major items
a.
b.
c.
d.
Sub total [2 to 9] (B)
10. Total current liabilities [A + B]
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ICICI Banking Corporation Ltd.
TERM LIABILITIES
11. Debentures (not maturing within 1 year)
12. Preference Shares (redeemable after 1 year)
13. Term loans (excluding instalments
payable within 1 year)
14. Deferred Payment Credits (excluding
instalments due within 1 year)
15. Term deposits (repayable after 1 year)
16. Other term liabilities
17. Total Term Liabilities [11 to 16]
18. Total Outside Liabilities [10 + 17]
NET WORTH
19. Ordinary Share Capital
20. General Reserve
21. Revaluation Reserve
22. Other Reserves (excluding Provisions)
23. Surplus (+) or deficit (-) in Profit & Loss a/c
23. a. Others
Share Premium
Capital Redemption Reserve
24. Net Worth
25. TOTAL LIABILITIES [18 + 24]
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ICICI Banking Corporation Ltd.
FORM III - ANALYSIS OF BALANCE SHEET (Continued)
ASSETS
Name:
Amounts in Rs. Crore
Last 2 Years Actuals Current Yr. Next Year
(As per audited BS) Estimates Projections
Year 1999 2000 2001 2002
No.of months 12 12 12 12
CURRENT ASSETS
26. Cash and Bank Balances
27. Investments (other than long term)
i. Govt. and other trustee securities
ii. Fixed Deposits with banks
28. i. Receivables other than deferred &
exports (incldg. bills purchased and
discounted by banks)
ii. Export receivables (incldg. bills
purchased/discounted by banks)
29. Instalments of deferred receivables
(due within 1 year)
30. Inventory:
i. Raw materials (including stores and
other items used in the process of
manufacture)
a. Imported
b. Indigenous
ii. Stocks-in-process
iii. Finished goods
iv. Other consumable spares
a. Imported
b. Indigenous
31. Advances to suppliers of raw materials
and stores/spares
32. Advance payment of taxes
33. Other current assets (specify major items)
a. Interest Receivable
b. Prepaid Expenses
c. Loans and Advances
d.
34. Total Current Assets (26 to 33)
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ICICI Banking Corporation Ltd.
FIXED ASSETS
35. Gross Block (land, building, machinery,
work-in-progress)
36. Depreciation to date
37. Net Block (35 - 36)
OTHER NON-CURRENT ASSETS
38. Investments/book debts/advances/deposits
which are not current assets
i. a. Investments in subsidiary
companies / affiliates
b. Others
ii. Advances to suppliers of capital goods
and contractors
iii. Deferred receivables (maturity
exceeding 1 year)
iv. Others
a. Security Deposits
b. Loans to Subsidiaries
c. Receivables over 6 months
d.
39. Non-consumable stores and spares
40. Other non-current assets including
dues from directors
41. Total Other Non-current Assets (38 to 40)
42. Intangible Assets (patents, good will,
prelim.expenses, bad / doubtful debts not
provided for, etc.
43. Total Assets (34+37+41+42)
44. Tangible Net Worth (24 - 42)
45. Net Working Capital (34 - 10)
46. Current Ratio (34 / 10)
47. Total OUTSIDE Liabilities / Tangible
Net Worth (18 / 44)
48. Total TERM Liabilities / Tangible
Net Worth (17 / 44)
ADDITIONAL INFORMATION
A. Arrears of depreciation
B. Contingent Liabilities:
i. Arrears of cumulative dividends
ii. Gratuity liability not provided for
iii. Disputed excise / customs /
tax liabilities
iv. Other liabilities not provided for
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ICICI Banking Corporation Ltd.
FORM IV
COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
Name:
Amounts in Rs. Crore
Last Year Current Yr. Next Year Peak
Norms Actuals Estimates Projections Requirement
Year 2000 2001 2002
A. CURRENT ASSETS
1. Raw materials (incl. stores & other items
used in the process of manufacture)
a. Imported
Month's Consumption
b. Indigenous
Month's Consumption
2. Other Consumable spares, excluding
those included in 1 above
a. Imported
Month's Consumption
b. Indigenous
Month's Consumption
3. Stock-in-process
Month's cost of production
4. Finished goods
Month's cost of sales
5. Receivables other than export & deferred
receivables (incl. bills purchased &
discounted by bankers)
Month's domestic sales: excluding
deferred payment sales
6. Export receivables (incl. bills purchased
and discounted)
Month's export sales
7. Advances to suppliers of raw materials &
stores / spares, consumables
8. Other current assets incl. cash & bank
balances & deferred receivables due
within one year
Cash and Bank Balances
Investments (other than long term):
i. Govt. and other trustee securities
ii. Fixed Deposits with banks
Instalments of deferred receivables
(due within 1 year)
Advance payment of taxes
Other current assets
9. Total Current Assets
(To agree with item 34 in Form III)
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ICICI Banking Corporation Ltd.
FORM IV
COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
Name:
Amounts in Rs. Crore
Last Year Current Yr. Next Year Peak
Norms Actuals Estimates Projections Requirement
Year 2000 2001 2002
B. CURRENT LIABILITIES
(Other than bank borrowings for working capital)
10. Creditors for purchase of raw materials,
stores & consumable spares
Month's purchases
11. Advances from customers
12. Statutory liabilities
13. Other current liabilities:
Short term borrowings from others
Provision for taxation
Dividend payable
Deposits / instalments of term loans / DPGs
/ debentures etc. (due within 1 year)
Other current liabilities & provisions
(due within 1 year)
14. Total (To agree with total B of Form-III)
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I C I C I Banking Corporation Ltd.
FORM V
COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
Name:
Amounts in Rs. Crore
Last Year Current Yr. Next Year Peak
First Method of Lending Actuals Estimates Projections Requirement
Year 2000 2001 2002
1. Total Current Assets (Form-IV-9)
2. Other Current Liabilities (other than
bank borrowings (Form-IV-14)
3. Working Capital Gap (WCG) (1-2)
4. Min. stipulated net working capital:
(25% of WCG excluding export receivables)
5. Actual / Projected net working capital
(Form-III-45)
6. Item-3 minus Item-4
7. Item-3 minus Item-5
8. Max. permissible bank finance
(item-6 or 7, whichever is lower)
9. Excess borrowings representing
shortfall in NWC (4 - 5)
Second Method of Lending
1. Total Current Assets (Form-IV-9)
2. Other Current Liabilities (other than
bank borrowings (Form-IV-14)
3. Working Capital Gap (WCG) (1-2)
4. Min. stipulated net working capital:
(25% of total Current Assets excluding
export receivables)
5. Actual / Projected net working capital
(Form-III-45)
6. Item-3 minus Item-4
7. Item-3 minus Item-5
8. Max. permissible bank finance
(item-6 or 7, whichever is lower)
9. Excess borrowings representing
shortfall in NWC (4 - 5)
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ICICI Banking Corporation Ltd.
FORM VI
FUNDS FLOW STATEMENT
Name:
Amounts in Rs. Crore
Last Year Current Yr. Next Year
Actuals Estimates Projections
Year 2000 2001 2002
1. SOURCES
a. Net Profit
b. Depreciation
c. Increase in Capital
d. Increase in Term Liabilities
(including Public Deposits)
e. Decrease in
i. Fixed Assets
ii. Other non-current Assets
f. Others
g. TOTAL
2. USES
a. Net loss
b. Decrease in Term Liabilities
(including Public Deposits)
c. Increase in
i. Fixed Assets
ii. Other non-current Assets
d. Dividend Payments
e. Others
f. TOTAL
3. Long Term Surplus (+) / Deficit (-) [1-2]
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ICICI Banking Corporation Ltd.
4. Increase/decrease in current assets
* (as per details given below)
5. Increase/decrease in current liabilities
other than bank borrowings
6. Increase/decrease in working capital gap
7. Net Surplus / Deficit (-) [3-6]
8. Increase/decrease in bank borrowings
9. Increase/decrease in NET SALES N/A
* Break up of item-4
i. Increase/decrease in Raw Materials
ii. Increase/decrease in Stocks-in-Process
iii. Increase/decrease in Finished Goods
iv. Increase/decrease in Receivables
a) Domestic
b) Export
v. Increase/decrease in Stores & Spares
vi. Increase/decrease in other current assets
TOTAL
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I C I C I Banking Corporation Ltd.
Key Indicators
1999 2000 2001 2002
Actual Actual Estimate Projection
1 Net Sales
2 P B I L D T
3 P B T
4 P A T
5 Net Cash Accruals
6 P B I L D T/ Net Sales (%) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
7 PAT/ Net Sales (%) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
8 Dividend/PAT (%) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
9 Gross Block
10 Net Block
11 Paid up Capital
12 Tangible Networth (TNW)
13 Group Invetsments
14 Adjusted T N W
15 L T D / T N W #DIV/0! #DIV/0! #DIV/0! #DIV/0!
16 D F S / T N W #DIV/0! #DIV/0! #DIV/0! #DIV/0!
17 T O L / T N W #DIV/0! #DIV/0! #DIV/0! #DIV/0!
18 Current Assets
19 Current Liabilities
20 Net Working Capital
21 Current Ratio
Other Indicators
22 R O C E (%) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
23 Interest Coverage Ratio #DIV/0! #DIV/0! #DIV/0! #DIV/0!
24 #DIV/0! #DIV/0! #DIV/0!
Fund Flow Analysis
2000 2001 2002
#DIV/0! #DIV/0! #DIV/0! Surplus / Incremental build up of current assets (%)
For year ended / ending
September 30,
S. No
Long Term Sources
Long Term uses
DSCR
Surplus/Deficit
Year Ended / Ending September 30,
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I C I C I Banking Corporation Ltd.
Pattern of TCA Funding
1999 2000 2001 2002
Sundry Creditors #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Other Current Liabilities #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Bank Borrowings #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Long Term funds #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Year ended / Ending 30 September
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I C I C I Banking Corporation Limited
(Rs in crore)
2001 5% inc 5% dec 2002 5% inc 5% dec 1999 2000 2001 2002
Net Sales - - - - - - Actuals Actuals Estimates Projections
Variable Cost* - #DIV/0! #DIV/0! - #DIV/0! #DIV/0! RM / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Spares / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Contribution - #DIV/0! #DIV/0! - #DIV/0! #DIV/0! P & F / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Fixed Costs** - - - - - - Labour / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!
SGA / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Operating Profit - #DIV/0! #DIV/0! - #DIV/0! #DIV/0! OME / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Operating
Profit/Sales
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Total (Excl Dep) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! Operating Margin #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Change in SIP / Net
Sales
Change in FG/ Net
Sales
Break Even Sales
Depreciation / Net
Sales
Sensitivity Ananlysis
Trend Analysis of Components of Cost of Sales
* RM, Packing material, Consumable stores & spares, stock adj and other mfg expenses
**Power & fuel, Direct labour, Depreciation, SGA and Interest
Cash Breakeven
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I C I C I Banking Corporation Limited
5% - 0% - 5% - 10% - 0% - 10% -
0% - 5% - 5% - 0% - 10% - 10% -
Contribution - - - - - -
- - - - - -
- - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
20% - 0% - 20% - -5% - 0% - -5% -
0% - 20% - 20% - 0% - -5% - -5% -
Contribution - - - - - -
- - - - - -
- - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
-10% - 0% - -10% - -20% - 0% - -20% -
0% - -10% - -10% - 0% - -20% - -20% -
Contribution - - - - - -
- - - - - -
- - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
SCENARIOS FOR OPERATIONS FOR FY ENDING 30/9/2001
Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
Scenario 9 Scenario 10
Change In Net Sales
Change In Variable costs
P B I L D T
P B T
P B I L D T
P B T
Scenario 13 Scenario 14
Scenario 11 Scenario 12
Change In Net Sales
Change In Variable costs
Scenario 7 Scenario 8
Change In Net Sales
Change In Variable costs
P B I L D T
P B T
Scenario 15 Scenario 16 Scenario 17 Scenario 18
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I C I C I Banking Corporation Limited
5% - 0% - 5% - 10% - 0% - 10% -
0% - 5% - 5% - 0% - 10% - 10% -
Contribution - - - - - -
- - - - - -
- - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
20% - 0% - 20% - -5% - 0% - -5% -
0% - 20% - 20% - 0% - -5% - -5% -
Contribution - - - - - -
- - - - - -
- - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
-10% - 0% - -10% - -20% - 0% - -20% -
0% - -10% - -10% - 0% - -20% - -20% -
Contribution - - - - - -
- - - - - -
- - - - - -
PBILDT / Net Sales #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Scenario 6
Change In Net Sales
Change In Variable costs
P B I L D T
P B T
SCENARIOS FOR OPERATIONS FOR FY ENDING 30/9/2002
Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5
Scenario 11 Scenario 12
Change In Net Sales
Change In Variable costs
Scenario 7 Scenario 8 Scenario 9 Scenario 10
Scenario 17 Scenario 18
P B I L D T
P B T
Scenario 13 Scenario 14
Change In Net Sales
Change In Variable costs
P B I L D T
P B T
Scenario 15 Scenario 16
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