Hi-Tech Steel & Re-Rolling Mills Ltd.

ANNEXURE - I
FIXED COST OF THE PROJECT
Taka in '000'

Item Present
Market value
01 Project Land (244 decimile), 488000

02 Building & Other Civil Works 75800

03 Machinary (Imported & Local) 553600

05 Safety Equipment 3000

06 Office Equipment, Furniture & Fixture 500

08 Vehicle 3500
TOTAL FIXED COST 1124400
WORKING CAPITAL (NET) 578957
TOTAL COST OF THE PROJECT 1703357

MEANS OF FINANCE

Loans :
Bank Loan (Shahjalal Islami Bank Ltd) 180000
Total Loan 180000

Equity :
Sponsor's Investment (Paid-up Capital) 10000
Director's Loan 934400
Total Equity 944400

Total Loan & Equity 1124400

Working Capital 578957

Total 1703357
 Hi-Tech Steel & Re-Rolling Mills Ltd.
ANNEXURE - I (Continue)
Taka in '000'
Item As per Present
appraisal Market value
01 Land
Land (244 decimile @ Tk.20.00 lac per decimile) 488000
Sub-Total : 488000
02 Building & Other Civil works
2 Nos of two storied Office Building (1200 sft per floor) 4800
Factory shad 30,000 sft 30000
Factory shad 25,000 sft 25000
2 Nos 4 storied Staff/Workers quarter 6400
Gas Generator shad (15,000 sft) 9000
Laboratory shad (1200 sft) 600
Sub-Total : 75800
03 Machinery & Equipment
2 Nows. Gas Generator (Catterpeller) 1950 KVA 160000
4 Nos Transformer 40000
4 Nos Furnace 50000
Panel Board 130000
VAC 5000
Colling Tower 3000
Temperature Measuring Unit 200
Spector Maxx 4000
2 Nos Strohelein Apparatus 200
Crane (15 MT @ 10 MT) 6500
C I Mould (300 Pcs) 7200
Refractories Materials (200 sets) 6000
Magent (2 sets) 6000
Our Door HT Harmonic Filter 3000
Out Door VCB & Switch Gear 2500
Scales (Capacity : 60 Mt) 5000
Complete set of Re-Rolling Mills Machinery 120000
Other equipments 5000
Sub-Total : 553600
05 Safety Equipment
Fire Fighting, Electric Fan, Water Pump, Other accessories First Aid Box 3000
Sub-Total : 3000
06 Office Equipment / Other Assets
Air-conditioner, Office Furniture & Office Machine 500
Sub-Total : 500
08 Vehical
Truck (Capacity : 5 Tons) 1500
Car 2000
Sub-Total : 3500
TOTAL FIXED COST 1124400
 WORKING CAPITAL (NET) 578957
TOTAL COST OF THE PROJECT 1703357

Hi-Tech Steel & Re-Rolling Mills Ltd.

ANNEXURE - II
ASSESSMENT OF WORKING CAPITAL
Taka in '000'

Particular Tied up Year 2015 Year 2016 Year 2017

Period
A: Current Assets

Raw materials (Imported) 120 days 425998 452623 479248

Raw materials (Local) 30 days 18794 19969 21143
Work in Process 3 days 15282 16314 17165
Finished Goods Stock 10 days 51364 55831 58759
Receivables at cost 10 days 43839 47651 50150
Stores & Spares 90 days 32474 34503 36533
Other Expenses 10 days 10000 12500 15000
Cash in hand 3 days 6500 6906 7338
578957 619423 656854

B : Current Liabilities (Shahjalal Islami Bank Ltd) 220000

Bank borrowing (70% of Raw materials, WIP, 251270 433596 459798

Receivable, Finished goods and stores & spares)

Working Capital Requirement 251270 433596 459798

 Hi-Tech Steel & Re-Rolling Mills Ltd.
ANNEXURE - II (Continue)
FORECAST OF EARNINGS
Taka in '000'

Current Assets : Year 2015 Year 2016 Year 2017

Sales Revenue 2289036 2447952 2592271
Cost of Goods Sold 1885062 2049006 2156446
Gross Profit 403974 398946 435826
Administrative & Marketing Expenses 15958 16547 17202
Profit before Tax & Interest 388016 382398 418624
Financial Expenses 91000 90913 90825
Net Operating Profit 297016 291486 327799
Income Tax (35%) 103955 102020 114730
Net Profit after Tax 193060 189466 213069
Dividend @ 15% on Paid-up Capital 15000 15000 15000
Retained Earning 178060 174466 198069
Cumulative Retained Earnings 178060 352526 550595

Ratios :

Gross Profit to Sale (%) 17.65 16.30 16.81

Net Operating Profit to Sales (%) 12.98 11.91 12.65
Net Profit to Sales (%) 8.43 7.74 8.22
 Hi-Tech Steel & Re-Rolling Mills Ltd.
ANNEXURE - II (Continue)
SALES ESTIMATE
Taka in '000'

Current Assets : Year 2015 Year 2016 Year 2017

Revenue at rated capacity 2730000 2730000 2730000
Revenue at capacity utilization 2184000 2320500 2457000
Add : Opening Stock of WIP for 3 days 12800 18200 19338
Total Revenue 2196800 2338700 2476338
Less : Closing Stock of WIP for 3 days 18307 19489 20636
Sales Revenue 2215107 2358189 2496974
Add : Opening Stock of FG for 7 days 30269 43072 45854
Sales Revenue 2245376 2401261 2542827
Less : Closing Stock of FG for 7 days 43660 46691 49444
Total Sales Revenue 2289036 2447952 2592271

ASSUMPTIONS :

01. Operation time : Three shifts of 8 hours each per day and 320 working days in a year.

02. Sales Revenue.

Item Unit Quantity Unit price Total

in Taka Tk.'000'

Rod 10mm to 32mm M Ton 41600 52500 2184000

Total 2184000
 Hi-Tech Steel & Re-Rolling Mills Ltd.
ANNEXURE - II (Continue)
COST OF GOODS SOLD
Taka in '000'

Item Year 2015 Year 2016 Year 2017

Raw materials 1503523 1597493 1691464
Wages & Salaries 38248 40160 42168
Power, Gas, Fuel, Lubricant & Water, 5820 6184 6548
Stores & Spares 83565 88788 94011
Repair & Maintenance 24681 26224 27766
Interest on Loan 91000 90913 90825
Depreciation 59500 63219 59500
Rent, Tax & Insurance 22488 23894 25299
Other Expenses 5000 5500 6000
Cost of Production 1833825 1942374 2043581
Add : Opening Stock of WIP for 3 days 0 15282 16186
Total Work in Process 1833825 1957656 2059767
Less : Closing Stock of WIP for 3 days 15282 16314 17165
Cost of Goods Manufactured 1849107 1973970 2076932
Add : Opening Stock of FG for 7 days 0 35955 38383
Goods available for Sale 1849107 2009924 2115314
Less : Closing Stock of FG for 7 days 35955 39082 41131
Cost of Goods Sold 1885062 2049006 2156446

ASSUMPTIONS

Item Unit Quantity Unit price Total

in Taka Tk.'000'
Requirement of Raw Materials

Scrap M Tons 41600 28000 1164800

Cast Iron M Tons 4800 32000 153600
Mould Pcs 3200 25000 80000
Former Patching Pcs 3200 8000 25600
Fire Bricks Set 5760 3350 19296
Nozzle Pcs 3840 760 2918
Temperature Kits Pcs 7040 85 598
Tiles Pcs 6400 78 499
Silicon Manganese Kgs 416000 95 39520
Quartz Powder Kgs 384000 28 10752
Boric Acid Kgs 8000 145 1160
Sodium Silicate Kgs 14400 38 547
Fire Clay/Molases LS 2880
Furnace Oil Ltr 20800 65 1352
Total 1503523

Imported (85%) 1277995

Locally procured (15%) 225528
Total 1503523

Hi-Tech Steel & Re-Rolling Mills Ltd.

Taka in '000'
CAPACITY UTILIZATION

Raw Materials Year 2015 Year 2016 Year 2017

Capacity utilization 80% 85% 90%
Requirements of Imported RM 1277995 1357869 1437744
Requirements of Local RM 225528 239624 253720
Total Requirement 1503523 1597493 1691464
Inventory (120 days) Imported 425998 452623 479248
Inventory (30 days) Local 18794 19969 21143

Wages & Salaries

Name of the Post Name of Monthly Total Salary

the post Salary (Taka '000')
General Manager (Engg & Production) 1 150000 1800
Chief Engineer 1 100000 1200
Chief Controller 1 80000 960
Quality Controller 1 60000 720
Engineer 1 60000 720
Sub-Assistant Engineer 3 35000 1260
Accountant 1 27000 324
Office Assistant 2 23000 552
Purchase Officer 2 40000 960
Supervisor 3 18000 648
Foreman 2 55000 1320
Chief Electrician 1 35000 420
Electrician 4 23000 1104
Mechanic 4 22000 1056
Production Fitter 2 32000 768
Mechanic Fitter 2 27000 648
Mill Fitter 3 21000 756
Store Officer 1 30000 360
Store Keeper 3 26000 936
Welder 5 35000 2100
Lathe Operator 2 23000 552
Operator 8 18000 1728
Fire Man 5 22000 1320
Coller 5 21000 1260
 Cutterer 4 22000 1056
Turner 3 22000 792
Shaperman 5 21000 1260
Helper 15 13000 2340
Security Officer 2 15000 360
Security Guard 5 11000 660
Crane Driver 4 20000 960
Driver 4 18000 864
Care Taker 3 13000 468
Peon/Messenger 3 10000 360
Cleaner 2 8000 192
Total 113 32784
Hi-Tech Steel & Re-Rolling Mills Ltd.
Taka in '000'

Year 2015 Year 2016 Year 2017

Salaries 32784 32784 34423
Increment (5%) - 1639 1721
Total 32784 34423 36144
Bonus (2 months basic) 5464 5737 6024
Total Salary 38248 40160 42168

Hi-Tech Steel & Re-Rolling Mills Ltd.

Power, Fuel, Gas & Water

Item Unit Quantity Monthly Total

Bill Tk.'000'
Electricity 1500000 18000
Gas 1800000 21600
Grease 70000 840
Lubricant Oil 200000 2400
Diesel 125000 1500
Petrol for Vehical 60000 720
CNG for vehical 30000 360
5820

Year 2015 Year 2016 Year 2017

04 Stores & Spares
On Machinery cost (@ 15% Per year) 83565 88788 94011

05 Repair & Maintenance

On Machinery cost (@ 5% Per year) 20891 22197 23503

On Building cost @ 5% each year 3790 4027 4264

Total 24681 26224 27766

06 Rent, Tax & Insurance

 2% of the Fixed Cost of the Project 22488 23894 25299

07 Depreciation & Write-off

Item Amount Depreciation Depreciation

Rate Amount '000'

Building 75800 5% 3790

Machinery & Equipment 557100 10% 55710
Vehical 3500 10% 350
Total 59500

Hi-Tech Steel & Re-Rolling Mills Ltd.

ANNEXURE - II (Continue)
GENERAL, ADMINISTRATIVE & SELLING EXPENSES
Taka in '000'
Item Year 2015 Year 2016 Year 2017
Directors Remuneration 4320 4320 4320
Salary (Administration) 7028 7329 7696
Post, Telephone & Mobile 300 319 338
Stationery & Printing 360 383 405
Travelling & Conveyance 600 638 675
Audit Fee / Legal Fees 350 372 394
Miscellaneous Expenses 3000 3188 3375
Total 15958 16547 17202

Administration
Name of the Post Name of Monthly Total Salary
the post Salary (Taka '000')
General Manager (Sales & Marketing) 1 100000 1200
Accounts Officer 1 60000 720
Manager 1 50000 600
Commercial Manager 2 40000 960
Accountant 1 25000 300
Office Assistant 2 20000 480
Sales Executive 2 25000 600
Computer Operator 2 18000 432
Security Guard 3 11000 396
Peon / Messenger 2 10000 240
Cleaner 1 8000 96
Total 18 6024

Item Year 2015 Year 2016 Year 2017

Salaries 6024 6024 6325
Increment (5%) 0 301 316
Total 6024 6325 6641
Bonus (2 months basic) 1004 1004 1054
Total Salary 7028 7329 7696
 Hi-Tech Steel & Re-Rolling Mills Ltd.
ANNEXURE - II (Continue)
ESTIMATE OF FINANCIAL EXPENSES & REPAYMENT SCHEDULE
Taka in '000'

Item Year 2015 Year 2016 Year 2017

Interest on Term Loan 25200 21000 16800
Interest on CC Loan 65800 69913 74025
Total 91000 90913 90825

Instalment against Term Loan

Principal 180000 150000 120000
Instalment 30000 30000 30000
Balance 150000 120000 90000
Interest @ 14% p a 25200 21000 16800

Interest on Working Capital

Principal 470000 499375 528750

Interest @ 14% p a 65800 69913 74025
5.63
161290.32
19500.00
 FINANCIAL SPREAD SHEET (FSS)

M/S.BEXIN B0HUMUKHE FARM (PVT.) LTD.

PROJECTED
ASSETS 1st % 2nd yr % 3rd yr % 4th yr
1 Cash in hand
2 Cash at Bank #REF! #REF! 0 #REF! #REF!
3 Securities (Marketable)
4 Receivable Trade
5 Less: Bad debt allowance
4-5 6 Net receivable
7 Inventories #VALUE! 12.38 #REF! #REF! #REF!
8 Bills receivable
9 All other current assets #VALUE! 2.52 #REF! #REF! #REF!
1 to 3 + 6 to
10 Total Current Assets #REF! 14.90 #REF! 0 #REF! #REF!
9
11 Land & Buildings
12 Less: Accumulated depreciation
11 - 12 13 Land & Building (net)
14 Plant & machinery
15 Less: Accumulated depreciation
14 - 15 16 Plant & machinery(net)
17 Equipment(Office & Factory)
18 Less: Accumulated depreciation
17 - 18 19 Equipment(net)
20 Furniture & Fittings
21 Less: Accumulated depreciation
20-22 22 Furniture & Fittings(net)
23 Fixed asset (net) #REF! #REF! #REF! #REF!
24 Investment Subsidiaries(40%)bond #REF! #REF! #REF! #REF!
25 Investment Associated Co.
26 All other non Current Assets
13+16+19+2
27 Total Non Current Assets #REF! 0.00 #REF! 0 #REF! #REF!
2to26
10 + 27 28 Total Assets #REF! #REF! 0 #REF! #REF!
Liabilities
29 Overdraft/Cash Credit
30 S.T.Loan from Bank #REF! #REF! #REF! #REF!
31 S.T.Loan from others
32 Account Payable Trade
33 L.T.Debt (Current Portion)
34 Provision for Taxes
35
36 All Other Current Liabilities
29 to 36 37 Total Current Liabilities #REF! #REF! 0 #REF! #REF!
38 Long Term Debt #REF! #REF! #REF! #REF!
39 Debenture, Bond etc.
40

Page 21
 M/S.BEXIN B0HUMUKHE FARM (PVT.) LTD.

1st % 2nd yr % 3rd yr % 4th yr

41 All Other Non-Current Liabilities
38 to 41 42 Total Non Current Liabilities #REF! 0 #REF! 0 #REF! #REF!
37+42 43 Total Liabilities #REF! 0 #REF! 0 #REF! #REF!
Owners Equity
44 Capitals(Paid up Capital) #REF! #REF! 0 #REF! #REF!
45 Paid in Surplus(Share Premium)
46 Reserves (General & investment) #REF! #REF! #REF! #REF!
Retained Earnings (unappropriated
47 profit #REF! #REF! #REF! #REF!
48 Less: Intangable Assets #REF! #REF! #REF! #REF!
(44 to 47)
49 Net Worth (owner's equity) #REF! 0 #REF! 0 #REF! #REF!
- 48
43+49 50 Total Liabilities & Net Worth #REF! 0 #REF! 0 #REF! #REF!
Income Statement/Profit and Loss A/C.
51 Sales (net) #REF! #REF! #REF! #REF!
52 Opening WIP #REF! #REF! #REF! #REF!
53 Add: Cost of Raw Material Used #REF! #REF! #REF! #REF!
54 Labor #REF! #REF! #REF! #REF!
55 Other Manufacturing Expenses #REF! #REF! #REF! #REF!
56 Depriciation of Plant & Machinery #REF! 0 #REF! 0 #REF! #REF!
57 Less: Ending WIP #REF! #REF! #REF! #REF!
52+53 to 58 Cost of Production #REF! 0 #REF! 0 #REF! #REF!
56-57
59 Add: Opening Stock of F.G. #REF! #REF! #REF! #REF!
58+59 60 Cost of Goods sold available for Sal #REF! 0 #REF! 0 #REF! #REF!
61 Less: Closing Stock of F.G. #REF! #REF! #REF! #REF!
60-61 62 Cost of Goods sold #REF! 0 #REF! 0 #REF! #REF!
51-62 63 Gross Profit #REF! #REF! #REF! #REF!
64 General Admin. Expenses #REF! #REF! #REF! #REF!
65 Selling and Distribution Expenses
66 Interest #REF! #REF! #REF! #REF!
67 Depreciation & Write Off #REF! 0 #REF! 0 #REF! #REF!
64 to 67 68 Total Operating Expenses #REF! 0 #REF! 0 #REF! 0 #REF!
63-68 69 Operating Profit #REF! 0 #REF! 0 #REF! #REF!
70 Other Income
71 Other Expenses
(69+70) - 71
72 Profit Before Tax #REF! 0 #REF! 0 #REF! #REF!
73 Provision for Taxes
72 - 73 74 Net Profit after Taxes #REF! 0 #REF! 0 #REF! #REF!
75 Less Investment (40%) #REF! #REF! #REF! #REF!
Add: Ret. On investment 0 #REF! #REF! #REF!
76 Net Profit after investment #REF! 0 #REF! 0 #REF! 0 #REF!
77 Add: Balance of profit b/f. form
previous year 0 #REF! 0 #REF! 0 #REF!
Less Dividend paid #REF! 0 #REF! 0 #REF! #REF!
78 Retained Earnings #REF! 0 #REF! 0 #REF! 0 #REF!

Page 22
 M/S.BEXIN B0HUMUKHE FARM (PVT.) LTD.

CASH FLOW STATEMENT 1st % 2nd yr % 3rd yr % 4th yr

101 Contigent liabilities
(10 - 37) 102 Working capital #REF! #REF! #REF! #REF!
74 103 Net Earning #REF! 0 #REF! 0 #REF! 0 #REF!
56+67 104 Plus: Depreciation & Write-off #REF! 0 #REF! 0 #REF! 0 #REF!
N.A. if net Plus: Appropriation items I.e.
earning is taken 105 Dividend 0
from line no.74 Transferred to Gen. Reserve
(66 + ROI.75) 106 Plus/Minus Other Non Operating #REF! 0 #REF! 0 #REF! 0 #REF!
Adjustments
107 (Increase)/Decrease of Receivables
(Increase)/Decrease in
108 Securities(Marketable)
109 (Increase)/Decrease in Inventory
110 Increase/(Decrease) in A/P Trade
Increase/(Decrease) in Provision for
111 Taxes
112 (Increase)/Decrease in All Other C/A (expect
Cash & Bank Balance) #REF! 0 #REF! 0 #REF! #REF!

113 Increase/Decrease in All Other C/A

Net Cash Flow from Operating
114 Activities #REF! 0 #REF! 0 #REF! 0 #REF!
INVESTING ACTIVITIES
(Increase)/Decrease in Land and
115 Building
(Increase)/Decrease Plant &
116 Machinery
117 (Increase)/Decrease in Equipment
(Increase)/Decrease in Furniture &
118 Fittings
119 (Increase)/Decrease in All Other
Non Current Asset(Inventory) #REF! #REF! #REF! ### #REF!
Net Cash Flow from Investment
120 Activities #REF! #REF! #REF! #REF!

Page 23
 M/S.BEXIN B0HUMUKHE FARM (PVT.) LTD.

FINANCING ACTIVITIES 1st % 2nd yr % 3rd yr % 4th yr

122 Increase/(Decrease) in Capital
Increase/(Decrease) in L.T.Loan,
123 Debenture #REF! #REF! #REF! #REF!
124 Increase/(Decrease) in O/D, C/C #REF! #REF! #REF! #REF!
Short Term Loan (from Banks &
Others) & Current Portion of Long
125 Term Loans #REF! #REF! #REF! #REF!
Increase/(Decrease) in all other
126 Non-Current Liabilities.
76.00 127 Minus Dividend Paid #REF! #REF! #REF! #REF!
Net Cash Flow from Financing
128 Activities #REF! #REF! #REF! #REF!
114+120+128 129 Net Cash Flow from 3 Activities #REF! #REF! #REF! #REF!

130 Plus Opening Cash & bank balance #REF! #REF! #REF! #REF!
Closing Cash & Bank Balance
129+130 131 During the Year #REF! #REF! #REF! #REF!

FUND FLOW STATEMENT

STEP ONE

A. INCREASE IN WORKING CAPITAL= INCREASE IN CURRENT ASSETS OR DECREASE

IN CURRENT LIABILITY
B. DECREASE IN WORKING CAPITAL= (DECREASE) IN CURRENT ASSETS OR
(INCREASE IN CURRENT LIABILITES)
Increase (Decrease in Working Capital 1st % 2nd yr % 3rd yr % 4th yr
132 Cash & Bank Balance #REF! #REF! #REF!
133 Securities(Markettable)
134 Net Receivables
135 Inventory #REF! #REF! #REF!
136 Accounts Payable Trade
137 Overdraft/ Cash Credit #REF! #REF! #REF!
Short Term Loans from Banks &
138 Others
Long Term Loans (Due within 12
139 months)
140 Provision for Taxes
141 All Other Current Assets #REF! #REF! #REF!
142 All Other Current Liabilities
143 Net Changes in Working Capital #REF! #REF! #REF!

Page 24
 M/S.BEXIN B0HUMUKHE FARM (PVT.) LTD.

STEP TWO
A. SOURCE OF FUND= DECREASE IN ASSETS OR INCREASE IN LIABILITY/EQUITY
B. USES OF FUND= (INCREASE) IN ASSETS OR ( DECREASE) IN LIABILITIES/EQUITY
C. ENSURE LINE NO. 155 EQUALS TO LINE NO. 143
Sources and Uses of Fund 1st % 2nd yr % 3rd yr % 4th yr
144 Net Changes Net Worth #REF! #REF! #REF!
145 Net Changes in Long Term Loans #REF! #REF! #REF!

146 Net Changes in Debenture & Bonds

147 Acquisition/ Sale of Land & Building

Acquisition/ Sale of Plant &
148 Machinery
149 Acquisition/ Sale of Equipment
Acquisition/ Sale of Furniture &
150 Fittings
Investment in Sub. & Associated
151 Company
152 Other Investment Activities
153 Other Non Current Assets #REF! #REF! #REF!
154 Other Non Current Liabilities
155 Fund Provided by or (Used for) #REF! #REF! #REF!

RATIOS
1st % 2nd yr % 3rd yr % 4th yr
10/37 158 Current #REF! #REF! #REF! #REF!
(1to3+6)/37 159 Quick #REF! #REF! #REF! #REF!
365/(51/6) 160 Receivable turnover Ratio
365/(62/7) 161 Inventory Turnover Ratio #REF! #REF! #REF! #REF!
365/(62/32) 162 Accounts Payable Turnover Ratio
51/102 163 Sales to Working Capital #REF! #REF! #REF! #REF!
43/49 164 Debt to Equity #REF! #REF! #REF! #REF!
51/
(13+16+19+
22) 165 Sales to Fixed Assets #REF! #REF! #REF! #REF!
See below 166 Debt service coverage #REF! #REF! #REF! #REF!

CREDIT SCORES
1ST 2ND 3RD 4TH
Z-Score #REF! #REF! #REF! #REF!

Scroe under 3 indicates further investigation necessary and score under 1.81 inherent
weakness.
Y-Score 18 20 20 20
(If under 12 unusual degree of risk is indicated, thus heavy reliance on security)

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 PROJECTED FUND FLOW STATEMENT

Sources of Fund Constr 1st 2nd 3rd 4th

Year Year Year Year Year

Paid-up Capital
Net Profit before Tax & Interest
Increase in Current Liabilities
Despreciation & Write Off
Bank's Term-Loan
Interest during construction period

Total

Utilisation of Fund

Capital Expenditure
Preliminary Expenses
Increase in Current Assets
Repayment of Term-Loan
Payment of IDCP
Payment of Interest
Payment of Tax
Payment of Dividend

Total

Cash Surplus / Deficit

Opening Balance of Cash
Closing Balance of Cash
 M/S.BEXIN B0HUMUKHE FARM (PVT.) LTD.

Z - Score calculation table

1st yr 2nd yr 3rd yr 4th yr

X1=(102/28) #REF! % #REF! % #REF! % #REF! %
X2=(78/28) #REF! % #REF! % #REF! % #REF! %
X3=(74+66)/28 #REF! % #REF! % #REF! % #REF! %
X4=(49/43) #REF! % #REF! % #REF! % #REF! %
X5=(51/28) #REF! #REF! #REF! #REF!

Z-Score= 0.012X1 + 0.014 X2 + 0.033X3 + 0.006X4 + 0.999 X5

Z-Score= #REF! #REF! #REF! #REF!

Calculation of Y-Score

1st yr 2nd yr 3rd yr 1st yr

Current Ratio,CR (10/37) #REF! #REF! #REF! #REF!
Quick Ratio,QR(2/37) #REF! #REF! #REF! #REF!
Liquidity Ratio,LR(2/37) #REF! #REF! #REF! #REF!
Asset Ratio,AR(28/43) #REF! #REF! #REF! #REF!
Return on Equity,ROE(74/49) #REF! #REF! #REF! #REF!

Y CREDIT SCORE TABLE

4th yr 3rd yr 2nd yr 1st yr
CR - Point 4 4 4 4
QR - Point 4 4 4 4
LR - Point 4 4 4 4
AR - Point 3 4 4 4
ROE - Point 3 4 4 4
Total Point: 18 20 20 20

COMMENT:
 Sheet16

upto 25 25-52 1st yr

weeks
10.06 21.18
Wheat 28% 98613 26% 192706 291318
Broken rice 20% 70438 20% 148235 218673
Rice bran 15% 52828 15% 111176 164005
Wheat bran 5% 17609 5% 37059 54668
Oil cake 15% 52828 15% 111176 164005
Dried fish meal 12% 42263 11% 81529 123792
Soyabean oil 1% 3522 1% 7412 10934
Salt 0.40% 1409 0.40% 2965 4373
Bone meal 1.50% 5283 3.50% 25941 31224
Mosaic powder 1.50% 5283 3.50% 25941 31224
Vitamin 0.30% 1057 0.30% 2224 3280
100% 101%

12.446 41.975
Wheat 28% 121971 26% 381973 503943
Broken rice 20% 87122 20% 293825 380947
Rice bran 15% 65342 15% 220369 285710
Wheat bran 5% 21781 5% 73456 95237
Oil cake 15% 65342 15% 220369 285710
Dried fish meal 12% 52273 11% 161604 213877
Soyabean oil 1% 4356 1% 14691 19047
Salt 0.40% 1742 0.40% 5877 7619
Bone meal 1.50% 6534 3.50% 51419 57954
Mosaic powder 1.50% 6534 3.50% 51419 57954
Vitamin 0.30% 1307 0.30% 4407 5714
100% 101%

Page 33