ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM - I

Particulars of the existing / proposed limits from the Banking System

(Limits from all Banks and Financial Institutions as on date of application)

NAME: Rs. In lacs

SL. NAME OF BANK / NATURE OF EXISTING EXTENT TO WHICH LIM TOTAL LIMITS TOTAL LIMITSNO. FINANCIAL INSTITUTION FACILITY LIMITS WERE UTILISED DURI. NOW REQUESTED NOW REQUESTED

(2007-08) THE LAST 12 MONTHS 2008-09 2009-10

MAX.

(1) (2) (3) (4) (5) (6) (7)

A. CONSORTIUM BANKS WORKING CAPITAL LIMITS

FUND BASED CC/W.C.D.L.

P/C /FBD/FBP

NON FUND BASED L/C (ILC/FLC)

B/G

TOTAL FUND & NONFUND BASED

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS FORM II : OPERATING STATEMENT

Amount - Rs.in Lacs

_______________ _____________ _________________ _________________NAME ANIK INDUSTRIES LIMITED MARCH, 2007 MARCH, 2008 MARCH, 2009 MARCH, 2010

- - - -ADD. :(CO. AS A WHOLE) FOLLOWING FOLLOWING

YEAR YEAR YEAR AUDITED AUDITED ESTIMATES PROJECTION

- - - -

(2) (3) (4) (5)- - - -

1. GROSS SALES

i) Domestic Sales ii) Export Sales

T o t a l

2. Less:Excise duty

3. Net Sales(1-2)

4. % age rise (+)or fall(-)in netsales as compared to previous year

5. COST OF SALES i) Raw Materials (including stores and

other items used in the process ofmanufacture)(a) Imported(b) Indigeneous

ii) Other Spares (a) Imported(b) Indigeneous

iii) Power and Fuel

iv) Direct Labour(Factory wages & salaries)

Repairs & Maintenance

v) Other mfg. expenses

vi) Depreciation

vii) SUB-TOTAL (i to vi)

viii) Add : Opening stocks-in-process

SUB TOTAL

ix) Deduct : Closing Stock-in-process

x) Cost of production

* Excluding Custom Duty on Imports

MARCH, 2007 MARCH, 2008 MARCH, 2009 MARCH, 2010

xi) Add : Opening stock of finished goods

SUB TOTAL

xii) Deduct : Closing stock of finished goods

xiii) SUB- TOTAL (Total Cost of sales)

6. Selling, General and Admn.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) Interest Waiver(b) OtherSub-total (Income)

(ii) Ded.: Other non-operating exp.(a) (b)Sub-total (Expenses)

(iii) Net of other non-operating inc./exp. (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(b) Dividend rate %

16. Retained profit (14-15)

17. Retained profit/Net profit (%age)

Net of buyers credit interest of Rs. 697 lacs and 810 lacs for 2006-07 and 2007-08 respectively

FORM IIIANALYSIS OF BALANCE SHEET

Amount - Rs.in LacsAs per balance sheet as at_______________ _____________ _________________ _________________

NAME ANIK INDUSTRIES LIMITED MARCH, 2007 MARCH, 2008 MARCH, 2009 MARCH, 2010- - - -

ADD. :(CO. AS A WHOLE) FOLLOWING FOLLOWING YEAR YEAR YEAR

AUDITED AUDITED ESTIMATES PROJECTION

LIABILITIES - - - -(2) (3) (4) (5)

CURRENT LIABILITIES - - - -

1. Short-term borrowings from banks(incl. bills purchased , discounted & excess borrowings placed on re -payment basis ) (i) From applicant bank (ii) From other banks(iii) (of which BP & BD)

SUB - TOTAL (A)

2. Short term borrowings from Bank

3. Sundry creditors (Trade)Sundry creditors R.M. Capital

4. Advance payments from customers /deposits from dealers

5. Provision for taxation

6. Dividend payable

7. Other statutory liabilities(due within one year)

8. Deposits/Instalments of term loans/DPGs/debentures , etc. (due within one year)

9. Other current liabilities & pro -visions (due within one year)Craditors for Public Issue Exp.Creditors for capital goods

SUB - TOTAL (B)

10. TOTAL CURRENT LIABILITIES(Total of 1 to 9)

MARCH, 2007 MARCH, 2008 MARCH, 2009 MARCH, 2010

TERM LIABILITIES

11. Corporate Loan(not maturing within one year)

12. Term Loans (excluding instalmentspayable within one year)HDFCOTHER BANK

13. Deferred Payments Credits (excld.instalments due within one year)

14. Inter Corporate Deposits *(repayable after one year)

15. Other term liabilities (Hire purc.)Others Security Deposit

16. TOTAL TERM LIABILITIES(Total of 11 to 15)

17. TOTAL OUTSIDE LIABILITIES (10+16)

NET WORTH

19. Ordinary Share Capital

20. General ReserveShare Premium

21. Investment Reserve

22. Other Reserves (excld. provisions)Subsidy

23. Surplus / (Deficit) in P/L a/c

23A. Deferred Tax Liability *

24. NET WORTH

25. TOTAL LIABILITIES (17 + 24)

FORM III (CONTINUED)ANALYSIS OF BALANCE SHEET

Amount - Rs.in Lacs_______________ _____________ _________________ _________________

NAME :ANIK INDUSTRIES LIMITED MARCH, 2007 MARCH, 2008 MARCH, 2009 MARCH, 2010- - - -

ADD. : (CO. AS A WHOLE) FOLLOWING FOLLOWING YEAR YEAR YEAR

AUDITED AUDITED ESTIMATED PROJECTIONS

ASSETS - - - - (2) (3) (4) (5)CURRENT ASSETS - - - -

26. Cash and bank balances

27. Investments (Other than long terminvestments)(i) Government & Other Trustee Securities (ii) Fixed deposit with Banks

28. (i) Receivables other than deferred& exports(including bills purchased& discounted by the banks)(ii) Exports receivables (Includingbills purchased/discounted by banks)

29. Instalments of deferred receivables (due within one year)

30. Inventory :(i) Raw Materials (including stores& other items used in the processof manufacture) (a) Imported (b) Indigenous(ii) Stock in process/transit

(iii) Finished Goods

(iv) Other Consumable Spares

31. Advances to suppliers of raw materials & stores/spares

32. Advance payment of taxes

33. Other current assets (Specify)

34. TOTAL CURRENT ASSETS(Total of 26 to 33)

* Net of Provision for Taxation

FIXED ASSETS35. Gross Block

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 / affillates b) Others(ii) Advances to suppliers of capital goods & contractors(iii) Deferred receivables (maturity exceeding one year)(iv) Others

39. Non-consumable stores & spares

40. Other non-current assets (includingdues from directors)

41. TOTAL OTHER NON-CURRENT ASSETS(Total of 38 to 40)

42. Intangible assets (patents,goodwillprelim. exp.,bad/doubtful debts notprovided for etc.)

43. TOTAL ASSETS(Total of 34 , 37 , 41 & 42)

44. TANGIBLE NET WORTH (24-42)

45. NET WORKING CAPITAL[(17+24)-(37+41+42)]To tally with (34-10)

46. Current Ratio (Item 34/10)After Export receivable

47. Total Outside Liabilities/Tangible Net Worth (18/44)

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

FORM IV COMPARATIVE STATEMENT OF

CURRENT ASSETS & CURRENT LIABILITIESAmount - Rs.in Lacs

As per balance sheet as at_______________ _____________ _________________ _________________

NAME :ANIK INDUSTRIES LIMITED MARCH, 2007 MARCH, 2008 MARCH, 2009 MARCH, 2010

ADD. : (CO. AS A WHOLE) FOLLOWING FOLLOWING YEAR YEAR YEAR

AUDITED AUDITED ESTIMATES PROJECTION

(2) (3) (4) (5)A. CURRENT ASSETS

1 Raw materials (includg.Stores &

Other items used in the process ofmanufacture)(a) Imported : Months' consumption:

(b) Indigenous: Months' consumption:

2 Other consumable spares, excluding those included in 1 above.(a) Imported Months' consumption:

(b) Indigenous Months' consumption:

3 Stock - in - Process/transitMonths' cost of Production

4 Finished GoodsMonths' cost of sales

5 Receivables other than export &deferred receivables (including

bills purchased & discounted by bankers)Months' domestic sales excludingdeferred payment sales

6 Export receivables (including billspurchased & discounted )Months' export sales

7 Advances to suppliers of raw mat.& stores/spares , consumables

8 Other current assets incl. cash & bank balances & deferred receivabledue within one year (Specify)

9 TOTAL CURRENT ASSETS(To agree with item 34 in Form III) 15,624

_______________ _____________ _________________ _________________MARCH, 2007 MARCH, 2008 MARCH, 2009 MARCH, 2010

B. CURRENT LIABILITIES (Other than bank borrowings for working capital)

10 Creditors for purchase of raw mat.stores & consumable sparesMonths' purchases

10A. Creditors - Capital Goods

11 Advances from customers

12 Statutory liabilities(Dividend Payable)

13 Other current liabilities(Specify major items)

TOTAL(To agree with subtotal B-Form III)

FORM V COMPUTATION OF MAXIMUM PERMISSIBLE

BANK FINANCE FOR WORKING CAPITALAmount - Rs.in Lacs

_______________ _____________ _________________ _________________MARCH, 2007 MARCH, 2008 MARCH, 2009 MARCH, 2010

NAME :ANIK INDUSTRIES LIMITED FOLLOWING FOLLOWING

ADD. : (CO. AS A WHOLE) YEAR YEAR YEAR AUDITED AUDITED ESTIMATES PROJECTION

(2) (3) (4) (5)

1. Total Current Assets(9 in form IV)

2. Current Liabilities(Other than bank borrowing & T.L. Investment)(14 of Form IV)

3. Working Capital Gap (1 - 2)

4. Min. stipulated net working capitali.e. 25% of WCG / 25% of total current assets as the case may bedepending upon the method oflendingbeing applied (Export receivables to be excluded under both methods)

5. Actuals / projected net workingcapital ( 45 in Form III )

6. Item 3 minus item 4

7. Item 3 minus item 5

8. Maximum permissible bank finance(Item 6 or 7 whichever is lower)

9. Excess borrowings representing short fall in NWC (4 - 5)

FORM VIFUNDS FLOW STATEMENT

NAME :ANIK INDUSTRIES LIMITED MARCH, 2007 MARCH, 2008 MARCH, 2009 MARCH, 2010- - - -

ADD. : (CO. AS A WHOLE) FOLLOWING FOLLOWING YEAR YEAR YEAR

AUDITED AUDITED PROJECTION PROJECTION - - - -

(2) (3) (4) (5)

1. SOURCES a) Net profit (after tax)b) Depreciationc) Preliminary Exp. W/offd) Increase in Term Liabilities (incld. Public deposits)e) Decrease in : i) Fixed Assets ii) Other non-current assets

* f) Others (Increase of Share Capital and

g) T O T A L

2. USES a) Net lossb) Decrease in Term Liabilities(incld. public deposits)c) Increase in : i) Fixed Assets ii) Other non-current assetsd) Dividends paymentse) Others

f) T O T A L

3. Long Term Surplus / (Deficit) [1-2]4. Increase/Decrease in current assets

* (as per details given below)5. Increase/Decrease in current liab.

other than Bank borrowings6. Increase/Decrease in working

capital gap

7. Net surplus / (defecit)(Difference of 3 & 6)

8. Increase/Decrease in bank borrowing

INCREASE / DECREASE IN NET SALES

* Realisation of SVF business sale

________________ ______________ __________________ __________________MARCH, 2007 MARCH, 2008 MARCH, 2009 MARCH, 2010

* Break up of (4) i) Increase/Decrease in Raw Mat.

ii) Increase/Decrease in Stock - in - process

iii) Increase/Decrease Fin. Goods

iv) Increase/Decrease in Recbles (a) Domestic (b) Export

v) Increase/Decrease stores & spares vi) Advance to suppliers vi) Increase/Decrease in other current assets

Total :

NOTE : Increase/Decrease under item 4 to 8 , as also under break up of (4) should be indicated by (+) or (-) .