ANNEXURE II

(Rs. In lacs)A/C M/s BORELE BUILD-CON PVT LTDBRANCH :

LIABILITIES Audited Audited Audited Estimated

*As per previous year CMA FOR THE YEAR ENDED 31.03.12 31.03.13 31.03.14 31.03.15

CURRENT LIABILITIES 0 0 0 0

01 0.00 0.00 0.00 0.00

/discounted & Excess borrowings 0.00 0.00 0.00 0.00placed on repayment basis) 0.00 0.00 0.00 0.00I) From Applicant Bank: 0.00 0.00 0.00 0.00ii) From Other Banks 0.00 126.04 136.18 0.00TOTAL BANK BORROWINGS 0.00 126.04 136.18 0.00

02 0.00 0.00 0.00 0.0003 Deposits (maturing < 1 year) 0.00 0.00 0.00 0.0004 Sundry Creditors (Trade) 24.22 7.34 51.40 22.08 05 Cr. for other expenses/Unsecured 1.46 17.41 3.06 0.2906 Advance Payment Customers 0.00 0.00 0.00 0.0007 Interest & Charges Accrued 0.00 0.00 0.00 0.0008 Provision for Taxation 0.00 0.00 0.00 0.0009 Dividend Payable 0.00 0.00 0.00 0.0010 Other Statutory Liabilities 0.14 0.11 0.02 0.1011 Installment due within 1 yr.. 11.86 9.54 16.05 19.8112 Other Current Liabilities 123.30 256.13 11.07 0.41

SUB TOTAL (B) 160.98 290.52 81.60 42.6913 TOTAL CURRENT LIABILITIES 160.98 416.57 217.77 42.69 TERM LIABILITIES 0.00 0.00 0.00 0.0014 Debentures 0.00 0.00 0.00 0.0015 Redeemable Shares (not 0.00 0.00 0.00 0.00

maturing within 1 yr) 0.00 0.00 0.00 0.00not exceeding 12 years) 0.00 0.00 0.00 0.00

16 Term Loans 10.14 21.57 70.18 50.07 17 Deferred Payment Credits 0.00 0.00 0.00 0.00 Sales tax deferment) 0.00 0.00 0.00 0.00

Deferred Tax Liability/Subsidy 0.00 0.00 0.00 0.00

18 156.92 137.39 468.42 468.42 19 Other Term Liabilities /subsidy 0.00 0.00 0.00 0.0020 TOTAL TERM LIABILITIES 167.06 158.96 538.60 518.4921 TOTAL OUTSIDE LIABILITIES 328.04 575.53 756.38 561.18 NET WORTH 0.00 0.00 0.00 0.0022 Paid up Capital/Proprietors Cap. 20.00 20.00 20.00 20.00 23 Share premium/addition 80.00 80.00 80.00 80.0024 General Reserve 6.46 6.46 6.46 6.4625 Share application money/Drawings 0.00 0.00 0.00 0.0026 Profit and loss 143.72 169.13 179.68 185.50

NET WORTH 250.17 275.58 286.13 291.9628 TOTAL LIABILITIES 578.22 851.11 1042.51 853.1429

ANALYSIS OF BALANCE SHEET

Short Term borrowings from Banks (including Bills Purchased,

Short Term borrowings from Banks

Term Deposits/Unsecured Loans (repayable after 1 Year)

ANNEXURE II

(Rs. In lacs)

A/C M/s BORELE BUILD-CON PVT LTDBRAASSETS Audited Audited Audited Estimated

FOR THE YEAR ENDED 31.03.12 31.03.13 31.03.14 31.03.15CURRENT ASSETS

Cash & Bank Balance 17.25 68.56 7.33 1.60 30 Investments 0.00 0.00 0.00 0.0031 I) Investments 17.26 6.10 6.59 7.58 ii) Fixed Deposits with Banks 0.00 0.00 0.00 0.0032 I) Receivables other than - 294.77 344.45 6.73

Exports (less than six months) 0.00 0.00 0.00 0.00ii) Export Receivables (include 0.00 0.00 0.00 0.00bills purchased & discounted) 0.00 0.00 0.00 0.00

Advance to Suppliers 0.00 0.00 0.00 0.0033 Inventory 0.00 0.00 0.00 0.0034 I) Raw Materials (including 0.00 0.00 0.00 0.00 stores used in the process) 0.00 0.00 0.00 0.00 a) Imported 0.00 0.00 0.00 0.00 b) Indigenous 0.00 0.00 0.00 0.00

ii) Stock in process 0.00 0.00 0.00 0.00 iii) Finished Goods 175.54 175.54 175.54 175.54 iv) Other Consumables 0.00 0.00 0.00 0.00 Advance recoverable 0.00 0.00 0.00 0.0035 Advance to Suppliers 0 0 0 0.00

Short term loans & Advances 14.00 2.00 16.30 97.15 36 Advance payment of Taxes 0.00 0.00 0.00 0.0037 Other Current Assets - - - - 38 - Income receivable 0.00 0.00 0.00 0.00

- Cenvat Credit 0.00 0.00 0.00 0.00- Export Incentive 0.00 0.00 0.00 0.00- VAT Receivable 0.00 0.00 0.00 0.00-MAT Receivable 0.00 0.00 0.00 0.00-Other(TDS Receivable/refundable 2.96 19.25 23.27 17.65TOTAL CURRENT ASSETS 227.00 566.23 573.47 306.25

39 FIXED ASSETS 0.00 0.00 0.00 0.00 Gross Block (Land & Building 131.95 168.54 232.13 232.1340 machinery, work in progress) 0.00 0.00 0.00 0.00

Depreciation todate 54.90 66.88 81.33 103.9141 Net Block 77.05 101.66 150.80 128.2242 NON CURRENT ASSETS 0.00 0.00

Investments/bookdebts/advanc 109.00 109.00 109.00 109.0043 Deps. And non current assets 0.00 0.00 0.00 0.00

a) Investment in subidiary 0.00 0.00 0.00 0.00 b) Others 30.98 62.97 0.23 0.67 ii) Adv. to suppliers of capital 0.00 0.00 0.00 0.00 Goods & Contractors 134.18 11.25 209.00 309.00

iii) Debtor exceeding 6 months 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

iv) Other investments/Deposits 0.00 0.00 0.00 0.00 Advances to subsidiary 0.00 0.00 0.00 0.0044 Other Non Current Assets 0.00 0.00 0.00 0.0045 NON-CURRENT ASSETS 274.16 183.22 318.23 418.6746 Intangible Assets Pre. 0.00 0.00 0.00 0.0047 Expenses, bad & debts etc. 0.00 0.00 0.00 0.00

TOTAL ASSETS 578.22 851.11 1042.51 853.1448 TANGIBLE NET WORTH 250.17 275.58 286.13 291.9649 NET WORKING CAPITAL 66.02 149.66 355.70 263.5650 CURRENT RATIO 1.41 1.36 2.63 7.1751 DEBT EQUITY RATIO 1.31 2.09 2.64 1.9252 Quasi debt equity

ANALYSIS OF BALANCE SHEET

Projected Projected

31.03.16 31.03.17

0 0

0.00 0.00

0.00 0.000.00 0.00

700.00 700.000.00 0.00

700.00 700.00

0.00 0.000.00 0.00

55.95 59.84 22.62 8.01

0.00 0.000.00 0.000.00 0.000.00 0.000.11 0.14

22.52 25.010.00 0.00

101.19 92.99801.19 792.99

0.00 0.000.00 0.000.00 0.000.00 0.000.00 0.00

27.55 2.54 0.00 0.000.00 0.000.00 0.00

468.42 468.42 0.00 0.00

495.97 470.961297.16 1263.96

0.00 0.00 20.00 20.00

80.00 80.006.46 6.460.00 0.00

223.66 266.93 330.11 373.39

1627.28 1637.34

ANNEXURE II

0.00

Projected Projected31.03.16 31.03.17

2.15 3.06 0.00 0.00

8.06 8.25 0.00 0.00

832.00 882.84 0.00 0.000.00 0.000.00 0.000.00 0.000.00 0.000.00 0.000.00 0.000.00 0.000.00 0.000.00 0.00

175.54 175.540.00 0.000.00 0.000.00 0.00

62.98 - 0.00 0.00

- - 0.00 0.000.00 0.000.00 0.000.00 0.000.00 0.00

18.85 48.451099.58 1118.14

0.00 0.00232.13 232.13

0.00 0.00123.11 139.43109.02 92.70

0.00109.00 109.00

0.00 0.000.00 0.000.67 8.500.00 0.00

309.00 309.000.00 0.000.00 0.000.00 0.000.00 0.000.00 0.00

418.67 426.500.00 0.000.00 0.00

1627.28 1637.34330.11 373.39298.39 325.14

1.37 1.413.93 3.39

###

OPERATING STATEMENT ANNEXURE III

A/C M/s BORELE BUILD-CON PVT LTDBRANCH :

Audited Audited Audited Estimated Projected

31.03.12 31.03.13 31.03.14 31.03.15 31.03.161 Domestic Sales (Toll Collection) 749.75 866.78 632.74 355.00 2482.00

Job Work Receipts 0.00 0.00 0.00 0.00 0.00Other Revenue Income- 0.00 642.81 99.20 45.13 50.49Export Sales 0.00 0.00 0.00 0.00 0.00

2 Less: Excise Duty 0.00 0.00 0.00 0.00 0.003 Net Sales (1 minus 2) 749.75 1509.59 731.94 400.13 2532.494 Cost of Sales : 0.00 0.00 0.00 0.00 0.00

Raw Materials 0 0 0 0 0 (a) Imported 0.00 0.00 0.00 0.00 0.00 (b) Domestic 0.00 0.00 0 0.00 0.00ii. Consumables & Stores 0.00 0.00 0.00 0.00 0.00iii. Power and Electricity 1.26 1.10 1.64 1.65 1.98iv. Salaries and Wages 6.99 6.36 5.23 5.69 6.59v. Bardana Exp 0.00 0.00 0.00 0.00 0.00vi. Repairs & Maintenance 0.00 0.00 0.00 0.00 0.00vii. Other Manufacturing exp. - - - - - vii Operational expenses 687.57 1442.52 634.05 340.11 2,405.87 viii. Depreciation 13.54 11.98 30.96 22.58 19.20ix.Sub-total (i to vi) 709.37 1461.96 671.88 370.03 2433.63

0.00 0.00 0.00 0.00 0.00x. Add: Op. stock-in-process 0.00 0.00 0.00 0.00 0.00 Sub-total 709.37 1461.96 671.88 370.03 2433.63xi. Deduct: Cl. stock-in-process 0.00 0.00 0.00 0.00 0.00xii. Sub-total (Cost of Production) 709.37 1461.96 671.88 370.03 2433.63xiii. Add: Op.stock of fin. goods 0.00 0.00 0.00 0.00 0.00 Sub-total 709.37 1461.96 671.88 370.03 2433.63xiv.Deduct: Cl. stock of fin. goods 0.00 0.00 0.00 0.00 0.00xv. Sub-total (Cost of Sales) 709.37 1461.96 671.88 370.03 2433.63

5 Gross Profit (3 minus 4) 40.38 47.63 60.06 30.10 98.866 Financial Expenses:Bank 3.15 2.43 33.28 16.04 17.68

Intt. On CC & others 0.00 0.41 22.11 5.79 9.80 Intt. On term loan 3.15 2.02 11.17 10.25 7.88

0.00 0.00 0.00 0.00 0.007 Selling, general & admin. Exps 10.40 14.39 7.78 6.59 27.10 8 Sub-total ( 6 plus 7 ) 13.55 16.82 41.06 22.63 44.78

9 Operating profit 26.84 30.81 19.00 7.47 54.07 0.00 0.00 0.00 0.00 0.00

10 Add: Income 1.01 0.58 0.74 0.85 0.92(a) Miscellaneous Receipts 0.00 0.00 0.00 0.00 0.00(b) Interest 1.01 0.58 0.74 0.85 0.92(c )Other Income 0.00 0.00 0.00 0.00 0.00(d) Office Administration 0.00 0.00 0.00 0.00 0.00(e) Prior Period Adjustment 0.00 0.00 0.00 0.00 0.00

11 Deduct expenses : 0.00 0.00 2.65 0.00 0.00(a) Loss on sale of car 0.00 0.00 2.65 0.00 0.00(b) Preliminary Expenses 0.00 0.00 0.00 0.00 0.00(c) Interest & other fin. charges 0.00 0.00 0.00 0.00 0.00

12 Sub-total 1.01 0.58 -1.91 0.85 0.9213 Profit before tax 27.85 31.39 17.09 8.32 54.99

14 Provision for taxes 5.31 5.98 6.54 2.50 16.5015 Profit After Tax 22.54 25.41 10.55 5.83 38.49

(Rs. In Lacs)

ProjectedProjected

31.03.17 31.03.172539.62

0.0070.490.000.00

2610.11###0.00

00.000.000.002.557.200.000.000.00

2,479.60 16.32

2505.67###0.000.00

2505.67###0.00###

2505.67###0.00

2505.67###0.00

2505.67###104.43###14.97###9.805.170.00

27.46 42.43###62.00 ###

0.000.95###0.000.950.00###0.000.000.00###0.000.000.000.95###

62.95 ###18.8944.07###

M/s BORELE BUILD-CON PVT LTD

Schedule of Fixed Assets

Par

ticu

lars

Dep

reci

atio

n

Computers & Printers 0.6 0.00 1.88 0.0013 0.0008Tea machine 0.15 0.00 0.11 0.09 0.01Air Conditioners 0.15 0.00 0.78 0.31 0.05Vehicles ( Cars) 0.15 0.00 52.93 137.03 20.56Other equipment 0.15 0.00 0.31 0.10 0.02Mobile 0.15 0.00 0.34 0.13 0.02Inverter & batteries 0.15 0.00 0.29 0.20 0.03Printer 0.6 0.00 0.14 0.0005 0.0003Software 0.6 0.00 0.13 0.0041 0.0024Office Furniture 0.1 0.00 0.37 0.83 0.08JCB1 0.15 0.00 12.17 5.74 0.86JCB2 0.15 0.00 11.86 6.36 0.95

Total 0.00 81.33 150.80 22.58

Rat

e o

f D

epri

.

Ass

et

alre

ady

acq

uir

ed

Op

enin

g

Dep

rica

tio

n

as o

n

31.0

3.20

14

WD

V a

s o

n

end

of

2014

M/s BORELE BUILD-CON PVT LTD

Dep

reci

atio

n

Dep

reci

atio

n

0.0005 0.0003 0.0002 0.0001 0.00010.07 0.01 0.06 0.01 0.050.27 0.04 0.23 0.03 0.19

116.48 17.47 99.01 14.85 84.160.09 0.01 0.07 0.01 0.060.11 0.02 0.09 0.01 0.080.17 0.03 0.14 0.02 0.12

0.0002 0.0001 0.0001 0.0000 0.00000.0016 0.0010 0.0007 0.0004 0.0003

0.75 0.07 0.67 0.07 0.614.88 0.73 4.15 0.62 3.535.40 0.81 4.59 0.69 3.90

128.22 19.20 109.02 16.32 92.70

WD

V a

s o

n

end

of

2015

WD

V a

s o

n

end

of

2016

WD

V a

s o

n

end

of

2017

A/C M/s BORELE BUILD-CON PVT LTDFINANCIAL INDICATORS (Rs. In lacs)

Audited Audited Audited Estimated Projected

1831.03.12 31.03.13 31.03.14 31.03.15 31.03.16

a) Paid up Capital : 20.00 20.00 20.00 20.00 20.00- Equity 0.00 0.00 0.00 0.00 0.00- Preference Share 0.00 0.00 0.00 0.00 0.00

b) Tangible Networth 250.17 275.58 286.13 291.96 330.11c) Investment in cos 0.00 0.00 0.00 0.00 0.00

(Of which in group cos)d) Adjusted TNW 250.17 275.58 286.13 291.96 330.11e) Capital Employed 417.24 434.55 824.73 810.45 826.08f) Net Block 77.05 101.66 150.80 128.22 109.02g) Net sales : Domestic 749.75 1509.59 731.94 400.13 2532.49

Export 0.00 0.00 0.00 0.00 0.00 Total 749.75 1509.59 731.94 400.13 2532.49

h) Other Income 1.01 0.58 0.74 0.85 0.92i) EBIDTA 44.54 45.80 81.33 46.94 91.87

Interest 3.15 2.43 33.28 16.04 17.68k) Gross Profit/(Loss) 41.39 43.37 48.05 30.90 90.68l) Taxes 5.31 5.98 6.54 2.50 16.50

m) Cash Accruals 36.09 37.39 41.51 28.41 74.18

n) Depreciation 13.54 11.98 30.96 22.58 19.20o) Net Profit/(Loss) 22.54 25.41 10.55 5.83 54.99p) 5.40% 5.85% 1.28% 0.72% 6.66%

q) Current Assets 227.00 566.23 573.47 306.25 1099.58r) Current Liabilities 160.98 416.57 217.77 42.69 801.19

RATIOS :s) Current ratio 1.41 1.36 2.63 7.17 1.37t) Debt/Equity :

Term liab./ Adjusted TNW 0.67 0.58 1.88 1.78 1.50

TOL/ Adjusted TNW 1.31 2.09 2.64 1.92 3.93TOL/Quasi Equity 0.00 0.00 0.00 0.00 3.63

u) 3.01 1.68 1.44 1.46 2.17

v) DSCRw) Interest Coverage 12.47 16.40 2.25 2.77 4.26x) 23.41 31.16 71.04 45.55 39.78

Net Profit/Capital Employed (%)

Profitability%: PAT/Net Sales

Inventory + Receivables/ Sales (%)

Projected

31.03.1720.0020.00

0.00373.39

0.00

373.39844.35

92.702610.11

0.002610.11

0.9594.2514.9779.2718.8960.39

16.3244.07

5.22%

1118.14792.99

1.41

1.26

3.390.001.69

1.075.03

40.55

56.67

FOR MORE THAN Rs. 5.00 CRORE WORKING CAPITAL LIMITS

31.03.2012 31.03.2013 31.03.2014 31.03.2015

Audited Audited Audited Estimated(A)Position of current assets Raw materials

0.00 0.00 0.00 0.000.00 0.00 0.00 0.00

(Days consumption) #DIV/0! #DIV/0! #DIV/0! #DIV/0!Consumable stores 0.00 0.00 0.00 0.00

(Days consumption) NA NA NA NA

Stock in process 0.00 0.00 0.00 0.00(Months cost of prod) 0.00 0.00 0.00 0.00Finished goods 175.54 175.54 175.54 175.54(Days cost of Sales) 90.32 43.83 95.36 173.15Receivables – NA NA NA NAExport 0.00 0.00 0.00 0.00(months sales) NA NA NA NADomestic 0.00 294.77 344.45 6.73(Days sales) 0.00 71.27 171.77 6.14Other Current Assets 48.51 76.66 30.22 9.18

Total (A) 224.05 546.97 550.21 191.45

(B) Position of Current Liabilities other than Bank Borrowings 24.22 7.34 51.40 22.08

(Days purchases) #DIV/0! #DIV/0! #DIV/0! #DIV/0!Adv. from Customers 0.00 0.00 0.00 0.00Statutory liabilities 0.14 0.11 0.02 0.10

Other current liabilities 136.62 283.08 30.18 20.52

Total (B) 160.98 290.52 81.60 42.69

(C) Working Capital Gap ( A-B) 63.07 256.45 468.61 148.76(D) Minimum stipulated NWC @ 25% 56.75 141.56 143.37 76.56

(E) Actual/Projected NWC 66.02 149.66 355.70 263.56

(F) Item C Minus Item D 6.31 114.89 325.24 72.20(G) Item C Minus Item E -2.96 106.79 112.91 -114.80

-2.96 106.79 112.91 -114.80

0.00 0.00 0.00 0.00

-          Imports-          Domestic

Creditors for purchase of RM, stores/spares

(H) Eligible Credit (Item F or G whichever is lower)(I) Excess Borrowings representing shortfall in NWC (D-E)

31.03.12 31.03.13 31.03.14 31.03.15 31.03.16

Audited Audited Audited Estimated Projection

227.00 566.23 573.47 306.25 1099.58

160.98 290.52 81.60 42.69 101.19

66.02 275.70 491.88 263.56 998.39

56.75 141.56 143.37 76.56 274.90

66.02 149.66 355.70 263.56 298.39

9.27 134.15 348.51 187.00 723.49

0.00 126.04 136.18 0.00 700.00

(h) MPBF 0.00 126.04 136.18 0.00 700.00

(i) Excess Borrowings, 0.00 0.00 0.00 0.00 0.00

Holding Position Days

31.03.12 31.03.13 31.03.14 31.03.15 31.03.16

Raw Material #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Stock In Process 0 0 0 0 0

Finished Goods 90 44 95 173 26

Receivables 0.00 71 172 6 120

S. Creditors #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

(a)   Total Current Assets

(b)   Other Current Liabilities

(c)   Working Capital Gap

(d) Minimum stipulated Net Working Capital 25% (e)   Actual/Projected Working Capital

(f)     (c - d)

(g)   (c - e)

31.03.17

Projection

1118.14

92.99

1025.14

279.53

325.14

745.61

700.00

700.00

0.00

31.03.17

#DIV/0!

0

26

123

#DIV/0!

Year 2015-16 2016-17 2017-18 2018-19A(Sales) 823.38 923.73 1043.52 8601.00B(25%of A) 205.85 230.93 260.88 2150.25C(5%of A) 41.17 46.19 52.18 430.05D(NWC) 80.13 80.28 91.53 284.58E (B-C) 164.68 184.75 208.70 1720.20F (B-D) 125.72 150.65 169.35 1865.67MBPF 125.72 150.65 169.35 505.13

Particulars 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21PAT 13.25 16.4 20.09 24.96 27.89 29.81 32.18Depreciation 31.08 26.63 22.83 19.58 16.64 14.27 12.03Int. on TLs 15.27 18.11 13.86 10.22 7.08 3.93 0.79TOTAL (A) 59.60 61.14 56.78 54.76 51.61 48.01 45.00

Repayment of TL 6.4 27.56 24.36 21.16 21.16 21.16 21.2Interest on TL 15.27 18.11 13.86 10.22 7.08 3.93 0.79Total (B) 21.67 45.67 38.22 31.38 28.24 25.09 21.99DSCR (A) / (B) 2.75 1.34 1.49 1.75 1.83 1.91 2.05

Particulars 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21PAT 13.25 16.40 28.7 24.96 27.89 29.81 32.18Depreciation 31.08 26.63 22.83 19.58 16.64 14.27 12.03Int. on TLs 10.75 19.69 19.90 12.31 9.17 6.03 2.89TOTAL (A) 55.08 62.72 71.43 56.85 53.7 50.11 47.1Repayment of TL 6.40 16.98 27.56 21.16 21.16 21.16 21.16Interest on TL 10.75 19.69 19.90 12.31 9.17 6.03 2.89Total (B) 17.15 36.67 47.46 33.47 30.33 27.19 24.05DSCR (A) / (B) 3.21 1.71 1.51 1.70 1.77 1.84 1.96

376.90

143

212.261.78

2021-2235.38

9.870.26

45.51 442.510.58

0.2610.84 227.16

4.20 1.95