CMA WITH CRA FOR BANK PROJECTION

7/30/2019 CMA WITH CRA FOR BANK PROJECTION

1/31

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM II - OPERATING STATEMENT

Name: M/s XYZ

Amounts in Rs. Lacs

Last 2 Years Actuals Current Yr. Next Year

(As per audited accounts) Estimates Projections

Year 31-Mar-10 31-Mar-11 31-Mar-12

1. Gross Sales N o.of months 9 12 12i. Domestic Sales 19.00 26.00 28.00

ii. Export Sales

iii. Other operating/revenue income

Total 19.00 26.00 28.00 0.00

2. Less Excise Duty

3. Net Sales (1 - 2) 19.00 26.00 28.00 0.00

4. % age rise (+) or fall (-) in net sales

as compared to previous year (annualised) N/A 2.63% 7.69% N/A

5. Cost of Sales

i. Raw materials (including stores and

other items used in the process of

manufacture) 23.46 23.46 25.09 0.00

a. Imported

b. Indigenous 23.46 23.46 25.09

ii. Other Spares 0.00 0.00 0.00 0.00

a. Imported

b. Indigenous

iii. Power and Fuel

iv. Direct Labour (Factory wages & salaries)

v. Other manufacturing expenses

vi. Depreciation 0.03 0.02 0.02

Other costs

vii. Sub-total (i to vi) 23.49 23.48 25.11 0.00

viii. Add: Opening Stock-in-process 0.00 0.00 0.00

Sub-total (vii + viii) 23.49 23.48 25.11 0.00

ix. Deduct: Closing Stock-in-process

x. Cost of Production 23.49 23.48 25.11 0.00

xi. Add: Opening Stock of finished goods 0.00 7.00 8.00 9.00


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Sub-total (x + xi) 23.49 30.48 33.11 9.00

xii. Deduct: Closing Stock of finished goods 7.00 8.00 9.00

xiii. Sub-total (Total Cost of Sales) 16.49 22.48 24.11 9.00

6. Selling, general and administrative expenses 1.15 1.53 1.69

7. Sub-total (5 + 6) 17.64 24.01 25.80 9.008. Operating Profit before Interest (3 - 7) 1.36 1.99 2.20 -9.00

9. Interest 0.45 0.60 0.60

10. Operating Profit after Interest (8 - 9) 0.91 1.39 1.60 -9.00

11. i. Add: Other non-operating Income

a.

b.

c.

d.

Sub-total (Income) 0.00 0.00 0.00 0.00

ii. Deduct: Other non-operating expenses

a.

b.

c.

d.

Sub-total (Expenses) 0.00 0.00 0.00 0.00

iii. Net of other non-operating income /expenses [net of 11(i) & 11(ii)] 0.00 0.00 0.00 0.00

12. Profit before tax/loss [10 + 11(iii)] 0.91 1.39 1.60 -9.00

13. Provision for taxes

14. Net Profit / Loss (12 -13) 0.91 1.39 1.60 -9.00

15. a. Equity dividend paid-amount

(Already paid + B.S. provision)

b. Dividend Rate (% age)

16. Retained Profit (14 - 15) 0.91 1.39 1.60 -9.00

17. Retained Profit / Net Profit (% age) 100.00% 100.00% 100.00% 100.00%


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FORM III - ANALYSIS OF BALANCE SHEET

LIABILITIES

Name: M/s XYZ

Amounts in Rs. Lacs


(As per audited BS) Estimates Projections

Year 31-Mar-10 31-Mar-11 31-Mar-12 0-Jan-00

No.of months 9 12 12 0

CURRENT LIABILITIES

1. Short-term borrowing from banks (including

bills purchased, discounted & excess

borrowing placed on repayment basis)

i. From applicant bank 5.00 5.00 5.00

ii. From other banks

iii. (of which BP & BD)

Sub-total [i + ii] (A) 5.00 5.00 5.00 0.00

2. Short term borrowings from others

3. Sundry Creditors (Trade) 0.25 0.40 0.55

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 0.00 0.00 0.00 0.00

a.

b.

c.

d.

Sub total [2 to 9] (B) 0.25 0.40 0.55 0.00

10. Total current liabilities [A + B] 5.25 5.40 5.55 0.00


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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] 0.00 0.00 0.00 0.00

18. Total Outside Liabilities [10 + 17] 5.25 5.40 5.55 0.00

NET WORTH

19. Ordinary Share Capital 2.61 3.59 4.6920. General Reserve

21. Revaluation Reserve

22. Other Reserves (excluding Provisions)

23. Surplus (+) or deficit (-) in Profit & Loss a/c

23. a. Unsecured Loans (Friends & Relatives)

b.

c.

24. Net Worth 2.61 3.59 4.69 0.00

25. TOTAL LIABILITIES [18 + 24] 7.86 8.99 10.24 0.00


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FORM III - ANALYSIS OF BALANCE SHEET (Continued)

ASSETS

Name: M/s XYZ

Amounts in Rs. Lacs


(As per audited BS) Estimates Projections


No.of months 9 12 12 0

CURRENT ASSETS

26. Cash and Bank Balances 0.13 0.03 0.05

27. Investments (other than long term)

i. Govt. and other trustee securities

ii. Fixed Deposits with banks28. i. Receivables other than deferred &

exports (incldg. bills purchased and

discounted by banks) 0.50 0.75 1.00

ii. Export receivables (incldg. bills

purchased/discounted by banks)

29. Instalments of deferred receivables

(due within 1 year)

30. Inventory: 7.00 8.00 9.00 0.00

i. Raw materials (including stores and

other items used in the process of

manufacture) 0.00 0.00 0.00 0.00

a. Imported

b. Indigenousii. Stocks-in-process 0.00 0.00 0.00 0.00

iii. Finished goods 7.00 8.00 9.00 0.00

iv. Other consumable spares 0.00 0.00 0.00 0.00

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) 0.00 0.00 0.00 0.00

a. Deposits

b. Commercial Tax

c. Other advances

d. Other current assets

34. Total Current Assets (26 to 33) 7.63 8.78 10.05 0.00


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FIXED ASSETS

35. Gross Block (land, building, machinery,

work-in-progress) 0.26 0.26 0.26

36. Depreciation to date 0.03 0.05 0.07

37. Net Block (35 - 36) 0.23 0.21 0.19 0.00

OTHER NON-CURRENT ASSETS38. Investments/book debts/advances/deposits

which are not current assets 0.00 0.00 0.00 0.00

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 0.00 0.00 0.00 0.00

a.

b.

c.

d. Receivables. over 6 months

39. Non-consumable stores and spares

40. Other non-current assets including

dues from directors

41. Total Other Non-current Assets(38 to 40) 0.00 0.00 0.00 0.00

42. Intangible Assets (patents, good will,

prelim.expenses, bad / doubtful debts not

provided for, etc.

43. Total Assets (34+37+41+42) 7.86 8.99 10.24 0.00

44. Tangible Net Worth (24 - 42) 2.61 3.59 4.69 0.00

45. Net Working Capital (34 - 10) 2.38 3.38 4.50 0.00

46. Current Ratio (34 / 10) 1.45 1.63 1.81 #DIV/0!

47. Total OUTSIDE Liabilities / Tangible

Net Worth (18 / 44) 2.01 1.50 1.18 #DIV/0!

48. Total TERM Liabilities / Tangible

Net Worth (17 / 44)

ADDITIONAL INFORMATION

A. Arrears of depreciation N/A N/A N/A N/A

B. Contingent Liabilities:

i. Arrears of cumulative dividends N/A N/A N/A N/A

ii. Gratuity liability not provided for N/A N/A N/A N/A

iii. Disputed excise / customs /tax liabilities N/A N/A N/A N/A

iv. Other liabilities not provided for N/A N/A N/A N/A


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CMA-FMT3C Suggestions : Email to [email protected]

31-Mar-10 31-Mar-11 31-Mar-12 0-Jan-00

Total Liabilities 7.86 8.99 10.24 0.00

Total Assets 7.86 8.99 10.24 0.00

Difference 0.00 0.00 0.00 0.00

Tallies Tallies Tallies TalliesDepreciation tallies tallies no

Curr. Ratio 1.45 1.63 1.81 #DIV/0!

TOL/TNW 2.01 1.50 1.18 #DIV/0!

Levels permitted / assumed

RM (imported)

RM (indig.)

SIP

Finished Goods 3.82 4.27 4.48

Receivables 0.24 0.35 0.43

Sundry Cred. 0.10 0.20 0.26

Instructions

1. a) In Form-II, Form-III and elsewhere, areas shaded in blue represent formulas not to be altered

b) In fin-param, opening stock of imp.raw material and indig.raw material to be entered in work-

sheet area in cells c53 and c58 for correct value of sundry creditors to purchases (days) in C34

c) Ensure to enter receivables over six months in Form-III, F129 for correct CRA rating

2. To check for errors, press {Control + E}

3. In Form-II / III, CRA and Fin-param sheets, areas shaded in yellow represent unprotected cells for data in

4. When printing Form-III, note that column J is not printed. Use print preview to make adjustment.

5. When entering data in Form-II and Form-III, pls ensure that space bar is not pressed in a blank

cell. While the cell will appear empty, Excel reads it as non-numeric data and generates

error message "VALUE" in any dependent cell.


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FORM IV

COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

Name: M/s XYZ

Amounts in Rs. Lacs

No- Last 2 Years Actuals Current Yr. Next Year Peak

rms (As per audited accounts) Estimates Projections Reqmt.


A. CURRENT ASSETS

1. Raw materials (incl. stores & other items

used in the process of manufacture)

a. Imported 0.00 0.00 0.00 0.00

Month's Consumption

b. Indigenous 0.00 0.00 0.00 0.00

Month's Consumption

2. Other Consumable spares, excluding

those included in 1 abovea. Imported 0.00 0.00 0.00 0.00

Month's Consumption

b. Indigenous 0.00 0.00 0.00 0.00

Month's Consumption

3. Stock-in-process 0.00 0.00 0.00 0.00

Month's cost of production

4. Finished goods 7.00 8.00 9.00 0.00

Month's cost of sales (3.82) (4.27) (4.48)

5. Receivables other than export & deferred

receivables (incl. bills purchased &

discounted by bankers) 0.50 0.75 1.00 0.00Month's domestic sales: excluding

deferred payment sales (0.24) (0.35) (0.43)

6. Export receivables (incl. bills purchased

and discounted) 0.00 0.00 0.00 0.00

Month's export sales

7. Advances to suppliers of raw materials &

stores / spares, consumables 0.00 0.00 0.00 0.00

8. Other current assets incl. cash & bank

balances & deferred receivables due

within one year 0.13 0.03 0.05 0.00

Cash and Bank Balances 0.13 0.03 0.05 0.00

Investments (other than long term):i. Govt. and other trustee securities 0.00 0.00 0.00 0.00

ii. Fixed Deposits with banks 0.00 0.00 0.00 0.00

Instalments of deferred receivables

(due within 1 year) 0.00 0.00 0.00 0.00

Advance payment of taxes 0.00 0.00 0.00 0.00

Other current assets 0.00 0.00 0.00 0.00

9. Total Current Assets 7.63 8.78 10.05 0.00(To agree with item 34 in Form III)


10/31

FORM IV

COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

Name: M/s XYZ

Amounts in Rs. Lacs

Prev.Yr. Last Year Current Yr. Next Year Peak

Norm Actuals Actuals Estimates Projections equiremen


B. CURRENT LIABILITIES

(Other than bank borrowings for working capital)

10. Creditors for purchase of raw materials,

stores & consumable spares 0.25 0.40 0.55 0.00

Month's purchases (0.10) (0.20) (0.26)

11. Advances from customers 0.00 0.00 0.00 0.00

12. Statutory liabilities 0.00 0.00 0.00 0.00

13. Other current liabilities: 0.00 0.00 0.00 0.00

Short term borrowings from others 0.00 0.00 0.00 0.00

Provision for taxation 0.00 0.00 0.00 0.00

Dividend payable 0.00 0.00 0.00 0.00

Deposits / instalments of term loans / DPGs

/ debentures etc. (due within 1 year) 0.00 0.00 0.00 0.00

Other current liabilities & provisions

(due within 1 year) 0.00 0.00 0.00 0.00

14. Total (To agree with total B of Form-III) 0.25 0.40 0.55 0.00


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FORM V

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

Name: M/s XYZ

Amounts in Rs.Last 2 Years Actuals Current Yr. Next Year

First Method of Lending (As per audited accounts) Estimates Projections


1. Total Current Assets (Form-IV-9) 7.63 8.78 10.05 0.00

2. Other Current Liabilities (other than

bank borrowings (Form-IV-14) 0.25 0.40 0.55 0.00

3. Working Capital Gap (WCG) (1-2) 7.38 8.38 9.50 0.00

4. Min. stipulated net working capital:

(25% of WCG excluding export receivables) 1.85 2.10 2.38 0.00

5. Actual / Projected net working capital (Form-III-45) 2.38 3.38 4.50 0.00

6. Item-3 minus Item-4 5.53 6.28 7.12 0.00

7. Item-3 minus Item-5 5.00 5.00 5.00 0.00

8. Max. permissible bank finance(item-6 or 7, whichever is lower) 5.00 5.00 5.00 0.00

9. Excess borrowings representing

shortfall in NWC (4 - 5)

Second Method of Lending

1. Total Current Assets (Form-IV-9) 7.63 8.78 10.05 0.00

2. Other Current Liabilities (other than

bank borrowings (Form-IV-14) 0.25 0.40 0.55 0.00

3. Working Capital Gap (WCG) (1-2) 7.38 8.38 9.50 0.00

4. Min. stipulated net working capital:

(25% of total Current Assets excluding

export receivables) 1.91 2.20 2.51 0.00

5. Actual / Projected net working capital (Form-III-45) 2.38 3.38 4.50 0.00

6. Item-3 minus Item-4 5.47 6.18 6.99 0.00

7. Item-3 minus Item-5 5.00 5.00 5.00 0.00

8. Max. permissible bank finance(item-6 or 7, whichever is lower) 5.00 5.00 5.00 0.00

9. Excess borrowings representing

shortfall in NWC (4 - 5)


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3. Long Term Surplus (+) / Deficit (-) [1-2] 2.38 1.00 1.12 -4.50

4. Increase/decrease in current assets

* (as per details given below) 7.63 1.15 1.27 -10.05

5. Increase/decrease in current liabilities

other than bank borrowings 0.25 0.15 0.15 -0.55

6. Increase/decrease in working capital gap 7.38 1.00 1.12 -9.50

7. Net Surplus / Deficit (-) [3-6] -5.00 0.00 0.00 5.00

8. Increase/decrease in bank borrowings 5.00 0.00 0.00 -5.00

9. Increase/decrease in NET SALES N/A 7.00 2.00 -28.00

* Break up of item-4

i. Increase/decrease in Raw Materials 0.00 0.00 0.00 0.00

ii. Increase/decrease in Stocks-in-Process 0.00 0.00 0.00 0.00

iii. Increase/decrease in Finished Goods 7.00 1.00 1.00 -9.00

iv. Increase/decrease in Receivables

a) Domestic 0.50 0.25 0.25 -1.00

b) Export 0.00 0.00 0.00 0.00

v. Increase/decrease in Stores & Spares 0.00 0.00 0.00 0.00

vi. Increase/decrease in other current assets 0.13 -0.10 0.02 -0.05

TOTAL 7.63 1.15 1.27 -10.05


16/31

M/s XYZ

Performance and Financial Indicators Amounts in Rs. Lacs

audited audited estimate projection

31-Mar-10 31-Mar-11 31-Mar-12 0-Jan-00

1 Net Sales 19.00 26.00 28.00 0.00

2 PBT

0.91 1.39 1.60 -9.00

3 PBT/Sales % 4.79 5.35 5.71 #DIV/0!

4 PAT 0.91 1.39 1.60 -9.00

5 Cash Accruals 0.94 1.41 1.62 -9.00

6 Paid up Capital 2.61 3.59 4.69 0.00

7 TNW 2.61 3.59 4.69 0.00

8 TOL/TNW 2.01 1.50 1.18 #DIV/0!

9 Current Ratio 1.45 1.63 1.81 #DIV/0!

10 Growth in Sales % N/A 2.63% 7.69% N/A

Efficiency Ratios

11 Net Sales / Total Tangible Assets 2.42 2.89 2.73 #DIV/0!

12 Return on Assets (PBT / TTA) % 11.58 15.46 15.63 #DIV/0!

13 Operating Costs / Sales % 6.05 5.88 6.04 #DIV/0!

14 Bank Finance / Current Assets (%) 65.53 56.95 49.75 #DIV/0!

15 Inventory and Receiv. / Net Sales

(days)

144 123 130 #DIV/0!

31-Mar-10 31-Mar-11 31-Mar-12 0-Jan-00

1 Total Curr.Asset (TCA) 7.63 8.78 10.05 0.00

2 Other Current Liabilities (OCL) 0.25 0.40 0.55 0.00

3 Working Capital Gap 7.38 8.38 9.50 0.00

4 Net Working.Cap. (NWC) 2.38 3.38 4.50 0.00

5 Assess.Bk.Finance (ABF) 5.00 5.00 5.00 0.00

6 NWC to TCA (%) 31.19 38.50 44.78 #DIV/0!

7 Bk.Finance to TCA(%) 65.53 56.95 49.75 #DIV/0!

8 Sundry Cred.to TCA (%) 3.28 4.56 5.47 #DIV/0!

9 Other CL (exc.sund.cred) to TCA (%) 0.00 0.00 0.00 #DIV/0!

10 Inventories to Net Sales(days) 134 112 117 #DIV/0!

11 Receivables to Gross Sales (days) 10 11 13 #DIV/0!

12 Sundry Cred.to Purchases(days) 4 6 8 #DIV/0!


17/31

WORKSHEET AREA 31-Mar-10 31-Mar-11 31-Mar-12 0-Jan-00

1 Depreciation 0.03 0.02 0.02 0.00

2 Total Tangible Assets 7.86 8.99 10.24 0.00

3 Operating Costs 1.15 1.53 1.69 0

Power & Fuel 0.00 0.00 0.00 0.00

Direct Labour 0.00 0.00 0.00 0.00Other Mfg. Expenses 0.00 0.00 0.00 0.00

Selling, Gen. and Admin. Exp. 1.15 1.53 1.69 0.00

4 Bank Finance 5.00 5.00 5.00 0.00

5 Inventory 7.00 8.00 9.00 0.00

6 Receivables (domestic + export) 0.50 0.75 1.00 0.00

Receivables over 6 months 0.00 0.00 0.00 0.00

7 Sundry Creditors 0.25 0.40 0.55 0.00

8 Gross Sales 19.00 26.00 28.00 0.00

9 Raw Material Purchases (Indigen.) 23.46 23.46 25.09 0

Opening Stock 0.00 0.00 0.00

Consumption 23.46 23.46 25.09 0.00

Closing Stock 0.00 0.00 0.00 0.00

10 Raw Material Purchases (Import.) 0 0 0

Opening Stock 0.00 0.00 0.00

Consumption 0.00 0.00 0.00 0.00

Closing Stock 0.00 0.00 0.00 0.00

11 Total (Imp.+Indig.) R.M Purch. 23.46 23.46 25.09 0


18/31

C & I

STATE BANK OF INDIA Branch :

Name of Com an : M/s XYZ

CREDIT RISK ASSESSMENT

DATA AS ON 31-Mar-11

A FINANCIAL RISK PARAMETERS

RISK HIS

ACTUALS MARKS WEIGHT Score LEVEL A

31-Mar-11

CURRENT RATIO 1.63 5 5 25 LL

TOL/TNW 1.50 5 5 25 LL

PBIDT/INTT. 3.35 3 2 6 M

PAT/NET SALES (%) 5.35 2 2 4 H

ROCE (%) 22.36 5 2 10 LL

INV.+REC./SALES (DAYS) 123 3 4 12 M

AGGR.FINANCIAL RISK SCORE (OUT OF 100) 82

B QUALITATIVE RISK FACTORS : (Rs. In lacs)

(NEGATIVE SCORE, use minus "-" sign) 0

FINANCIAL PARAMETERS Score Maximum

i) Static (Weightage 0.5) 41 50

ii) Historical 7 8

iii Industr 7 8

iv) Qualitative 0

out of

Total 55 66 55 66

MA RKS

C INDUSTRY RISK PARAMETERS: AWARD. MAXIMUM

1. COMPETITION & MARKET 4 4

2. CYCLICALITY 4 4

3. REGULATORY RISK 4 4

4. TECHNOLOGY 4 4

5. USER PROFILE 4 4

6. INPUT PROFILE 4 4

SCORE 24 24 24 out of

24

D MANAGEMENT RISK PARAMETERS WEIGHTAGE 0.5

1. INTEGRITY 4 4

2. EXPERTISE 4 4

3. TRACK RECORD 4 44. STRUCTURE & SYSTEM 4 4

5. CAPITAL MARKET N.A

SCORE 16 16 10 out of


19/31

STATE BANK OF INDIA

M/s XYZ

CREDIT RISK ASSESSMENT:

DATA AS ON : 31-Mar-11

(A) FINANCIAL RISK PARAMETERS

Weig- RISK

ACTUALS MARKS htage Score LEVEL

31-Mar-11


TOL/TNW 1.50 5 5 25 LL



ROCE (%) 22.36 5 2 10 LL

INV.+REC./SALES (DAYS) 122.84 4 4 16 L


(B) QUALITATIVE RISK FACTORS :

(NEGATIVE SCORE, enter with "-" minus sign) 0

(C) INDUSTRY RISK PARAMETERS:

1. COMPETITION & MARKET AT PAR

2. CYCLICALITY AT PAR

3. REGULATORY RISK ABOVE PAR

4. TECHNOLOGY AT PAR

5. USER PROFILE AT PAR

6. INPUT PROFILE AT PAR

(D) MANAGEMENT RISK PARAMETERS

1. INTEGRITY ABOVE PAR

2. EXPERTISE AT PAR

3. TRACK RECORD AT PAR

4. STRUCTURE & SYSTEM AT PAR

5. CAPITAL MARKET NOT APPLIC.

Overall Risk Level Score 86

Credit Rating Proposed SB-2

Credit Rating Existing

Rating for Pricing


20/31

CRA PREVIOUS YEAR

STATE BANK OF INDIA


DATA AS ON : 0-Jan-00


Weig- RISK


0-Jan-00


TOL/TNW 2.01 5 5 25 LL



ROCE (%) 18.22 4 2 8 L

INV.+REC./SALES (DAYS) 144.08 4 4 16 L







3. REGULATORY RISK AT PAR

4. TECHNOLOGY AT PAR5. USER PROFILE AT PAR




2. EXPERTISE AT PAR



5. CAPITAL MARKET NOT APPLIC.


Credit Rating Proposed SB-2Credit Rating Existing


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29/31

STATE BANK OF INDIA

M/s XYZ




Weig- RISK


31-Mar-11


TOL/TNW 1.50 5 5 25 LL



ROCE (%) 22.36 5 2 10 LL

INV.+REC./SALES (DAYS) 122.84 3 4 12 M













2. EXPERTISE AT PAR



5. CAPITAL MARKET NOT APPLICABLE


Credit Rating Proposed SB-2


Rating for Pricing

Previous year's CRA

M/s XYZ




30/31


Weig- RISK


31-Mar-10

CURRENT RATIO 1.45 4 5 20 L

TOL/TNW 2.01 4 5 20 L

PBIDT/INTT. 3.35 3 2 6 MPAT/NET SALES (%) 5.35 2 2 4 H

ROCE (%) #REF! #REF! 2 #REF! #REF!

INV.+REC./SALES (DAYS) 122.84 3 4 12 M

AGGR.FINANCIAL RISK SCORE (OUT OF 100) #REF!




1. COMPETITION & MARKET AT PAR2. CYCLICALITY AT PAR







2. EXPERTISE AT PAR


4. STRUCTURE & SYSTEM AT PAR5. CAPITAL MARKET NOT APPLIC.

Overall Risk Level Score #REF!

Credit Rating Proposed #REF!


Rating for Pricing


31/31

Documents

CMA WITH CRA FOR BANK PROJECTION