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    Sugar Project Question

    Uploaded by

    Hardik Thacker
    The document presents a financial model for a proposed sugar and co-generation plant project. It includes assumptions for project costs, funding, revenues, operating expenses, taxes, and cash flows over a 10-year period. Key metrics like IRR, debt service coverage ratio, and returns are calculated to evaluate the financial viability of the project.

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    © All Rights Reserved
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    Sugar Project Question

    Uploaded by

    Hardik Thacker
    19 views21 pages
    The document presents a financial model for a proposed sugar and co-generation plant project. It includes assumptions for project costs, funding, revenues, operating expenses, taxes, and cash flows over a 10-year period. Key metrics like IRR, debt service coverage ratio, and returns are calculated to evaluate the financial viability of the project.

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    Original Title

    Sugar_Project_Question

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    The document presents a financial model for a proposed sugar and co-generation plant project. It includes assumptions for project costs, funding, revenues, operating expenses, taxes, and cash flows over a 10-year period. Key metrics like IRR, debt service coverage ratio, and returns are calculated to evaluate the financial viability of the project.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    19 views21 pages

    Sugar Project Question

    Uploaded by

    Hardik Thacker
    The document presents a financial model for a proposed sugar and co-generation plant project. It includes assumptions for project costs, funding, revenues, operating expenses, taxes, and cash flows over a 10-year period. Key metrics like IRR, debt service coverage ratio, and returns are calculated to evaluate the financial viability of the project.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    of 21

    Template

    All Numbers in INR Million


    Dates - Annual Jan-14 Dec-14 Dec-15 Dec-16 Dec-17
    Year Year-1 Year-2 Year-3 Year-4
    Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23
    Year-5 Year-6 Year-7 Year-8 Year-9 Year-10
    Assumptions

    Project Cost

    Fixed Assets (Plant & Machinery) 1,200


    Total Hard Cost 1,200 Year-1
    IDC (Soft Cost) 13 Year Qtr-1 Qtr-2 Qtr-3
    TOTAL COST OF THE PROJECT 1,213 Phasing % 10% 10% 15%

    Funding Assumptions
    Equity 35%
    Debt 65% IRR Sensitivity

    Revenue Assumptions
    Sugar Plant 9%
    Sugar Plant Capacity 1000 TCD Tonnes Crushed Per day 10%
    Number of Working Days 240 11%
    Hours of Work Per Day 24 12%
    Capacity utilisation 80% 85% 90% 13%
    Estimated Sugar Recovery 9% 14%
    Sugar Sale Rate 28000 Rs./Tonne Escalation 5% 15%
    CO-Gen Plant
    Installed Capcaity 20 MW
    Internal Consumption 40%
    Capaicty Utilisation 80% 85% 90%
    Co-Gen Sell Rate 5 Rs./Unit Escalation 5%

    Operating Expenses
    Sugarcane Cost 2000 Rs./Tonne Escalation 4%
    Salaries 7.50% % of Sales
    Consumables 5% % of Sales
    Other Expenses 2% % of Sales
    Repairs and Maintenance 1% % of Sales

    Depreciation Rate
    Company Act (Straight Line Method)
    Fixed Assets 5.28%
    IT Act (Written Down Value)
    Fixed Assets 15%

    Taxes
    Corporate Tax Rate 33%
    MAT Rate 20%
    Working Capital Assumptions Days
    Inventory 40
    Creditors 15

    Terms of Debt
    Interest Rate 10%
    Loan Repayment Annual - At the end of period
    Tenure 6 years post COD
    Moratorium 1 year post COD

    Interest Income 7%
    Terminal Value 25% Scrap Value of Residual Net Assets
    r-1 Year-2
    Qtr-4 Qtr-1 Qtr-2 Qtr-3 Qtr-4
    15% 15% 15% 10% 10%

    RR Sensitivity

    0% 20% 40% 60% 80% 85%


    IDC
    All Numbers in INR Million
    Dates - Annual Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15
    Year Qtr-1 Qtr-2 Qtr-3 Qtr-4 Qtr-1
    Effective Days 91 92 92

    Opening balance - 79 158


    Phasing % 10% 10% 15%
    Add inc during the quarter 79 79 118
    Quarterly closing balance 79 158 276

    Quarterly Interest Capitalised 1.97 3.97 6.96

    Total IDC Phase-I 13


    Sep-15 Dec-15 Mar-16 Mar-15 Mar-16
    Qtr-2 Qtr-3 Qtr-4
    Annual Sales
    All Numbers in INR Million
    Year Year-1 Year-2 Year-3 Year-4

    Sugar Plant Capacity(TCD)


    Number of Working Days
    Capacity utilisation
    Cane Crushed
    Sugar Recovery(%)
    Annual Sugar Production(Tonnes)
    Sugar Price 5%
    Annual Sugar Sales

    Co-Gen Capacity MW
    Number of Working Days
    Hours of Work Per Day
    Capacity Utilisation
    Capacity For Internal Use MW
    Capacity For Sale of Power MW
    Power Produced MU
    Power Sale Rate(KWH) 5%
    Annual Power Sale

    Total Sale
    Year-5 Year-6 Year-7 Year-8 Year-9 Year-10
    Annual Expenses
    All Numbers in INR Million
    Dates - Annual Jan-14 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18
    Year Year-1 Year-2 Year-3 Year-4 Year-5

    Sugarcane Price 4.0%


    Sugar Cane Requirement

    Raw Material Expense


    Salaries 7.5%
    Consumables 5.0%
    Other Expenses 2.0%
    Repairs and Maintenance 1.0%

    Debt Schedule

    Debt Opening -
    Addition -
    Repayment
    Closing -

    Interest Expense

    Depreciation Schedule
    SLM Depreciation
    Fixed Assets, Gross 606
    Accumulated Depreciation
    Fixed Assets, Net

    Depreciation Expense 5.28%

    WDV Depreciation
    Fixed Assets, Beg 0
    Depreciation IT 0
    Fixed Assets, End 606.4475

    Working Capital Schedule

    Inventory - - -
    Creditors - - -
    Working Capital - - -
    Dec-19 Dec-20 Dec-21 Dec-22 Dec-23
    Year-6 Year-7 Year-8 Year-9 Year-10

    - - - - -
    - - - - -
    - - - - -
    Income Statement
    All Numbers in INR Million
    Dates - Annual Jan-14 Dec-14 Dec-15 Dec-16 Dec-17
    Year Year-1 Year-2 Year-3 Year-4

    Sales

    Raw Material Costs


    Gross Profit

    Salaries
    Consumables
    Other Expenses
    Repairs and Maintenance
    EBITDA

    Depreciation
    EBIT

    Interest Expense
    Interest Income
    EBT

    Income Tax Payable


    Deferred Taxes
    Effective Tax Rate %

    PAT
    Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23
    Year-5 Year-6 Year-7 Year-8 Year-9 Year-10
    Balance Sheet
    All Numbers in INR Million
    Dates - Annual Jan-14 Dec-14 Dec-15 Dec-16 Dec-17
    Year Year-1 Year-2 Year-3 Year-4

    Equity Capital
    Reserves and Surplus
    Total Shareholders Equity

    Debt
    Deferred Tax Liability
    Creditors

    Total Liabilities & Sh Equity

    Fixed Assets, Gross


    Accumulated Depreciation
    Fixed Assets, Net
    Investments

    Cash
    Inventory

    Total Assets

    Checksum
    Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23
    Year-5 Year-6 Year-7 Year-8 Year-9 Year-10
    Cash Flow Statement
    All Numbers in INR Million
    Dates - Annual Jan-14 Dec-14 Dec-15 Dec-16 Dec-17
    Year Year-1 Year-2 Year-3 Year-4

    PBT

    Depreciation
    Change in Inventory
    Change in Creditors
    Taxes Paid
    Cash Flow From Operations

    Purchase of Assets
    Purchase of Investments
    Cash Flow from Investing

    Change in Debt
    Change in Equity
    Cash Flow From Financing

    Net Change in Cash

    Cash BOP
    Cash EOP
    Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23
    Year-5 Year-6 Year-7 Year-8 Year-9 Year-10
    Tax Schedule
    All Numbers in INR Million
    Dates - Annual Jan-14 Dec-14 Dec-15 Dec-16 Dec-17
    Year Year-1 Year-2 Year-3 Year-4

    PBT
    Add: SLM Depreciation
    Less: WDV Depreciation
    Taxable Income

    Carry Forward Loss - Beginning


    Additions
    Set-off
    Carry Forward Loss - Ending
    Taxable Income
    Corporate Tax 33%

    Book Profit
    MAT 20%

    Tax Payable

    MAT Paid Over Corporate Tax

    MAT Credits Beginning


    MAT Credits Addition
    MAT Set Off
    MAT Credits Ending

    Net Tax Payable

    Book Profits
    Income Tax Provision 33%

    Change in Deferred Tax Liability


    Deferred Tax Liability
    Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23
    Year-5 Year-6 Year-7 Year-8 Year-9 Year-10
    Returns
    All Numbers in INR Million
    Dates - Annual Jan-14 Dec-14 Dec-15 Dec-16 Dec-17
    Year Year-1 Year-2 Year-3 Year-4

    Debt Service Coverage Ratio


    Profit after tax
    Depreciation
    Interest Expense
    Total Inflow

    Interest Expense
    Repayment of Term Loan
    Total Outflow

    Annual DSCR
    Average DSCR
    Maximum DSCR
    Minimum DSCR

    Internal Rate of Return

    IRR : PAT & Equity


    Equity Addition
    PAT
    Depreciation
    Change in WC
    Less : Loan Repayment
    Terminal Value
    Woring Capital Reversal
    Cash Flow

    IRR
    Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23
    Year-5 Year-6 Year-7 Year-8 Year-9 Year-10

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