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7/26/2019 Project Report- Rubber Industry
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VYK Rubber ProductsPlot No. J- 30, GIDC, Killa Pardi, Dist-Valsad, Pin-39-!"#.
PROJECT REPORT
Proposal for Sanction of:
1.Fresh Fund Based Working Capital Limit of Rs. 20.00 Lacs.
2.Fresh Term Loan of Rs. 18.00 Lacs.
Profile of the Firm:-
1 Name of the Unit M/S VYK Rubber Products
2 Constitution Partnership Firm
3 PAN No. AAIFV7183K
4 Date of Incorporation 1stFebruary 2011
5 Address of Firm Plot No. J- 30, GIDC, Killa Pardi, Dist-Valsad,
Pin-396125.
Reg. Office: Plot No. J- 30, GIDC, Killa Pardi, Dist-Valsad,
Pin-396125.
Factory: Plot No. J- 30, GIDC, Killa Pardi, Dist-Valsad,
Pin-396125.
Admn. Office Plot No. J- 30, GIDC, Killa Pardi, Dist-Valsad,
Pin-396125.
6 Name of the Partners
& Profit Sharing Ratio
Shri Prithwiraj R Jhunjhunwala 50 %
Smt. Sarita R Jhunjhunwala 50 %
7 S.S.I Registration No. 24-025-11-02423
8 Activity Existing Manufacturing and processing of
rubber items such as Rubber Balls &
Tennis Balls & other Allied Products.
Proposed Manufacturing of Sketch Pen Tip
INTRODUCTION
M/s VYK Rubber Productswas in incorporated on 1stFebruary 2011 at Plot No.
J-30, GIDC, Killa Pardi, Dist-Valsad. The firm is currently engaged in
manufacturing and processing of rubber items such as Tennis Balls, Rubber
Balls & other allied products. Now the firm has decided to expand their business
by manufacturing new product in the market i.e. Sketch Pen Tips. Previously
the firm has 3 partners since 15thDecember 2012 one of the partners named
Smt. Saroj Modi retired from the firm and presently the firm is managing by twopartners only.
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There are two main partners of the firm namely:
1.Shri Prithviraj Ramniwas Jhunjhunwala
2.Smt. Sarita Rohitbhai Jhunjhunwala
Manufacturing Process of Rubber and Tennis Ball:
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RMA Rubber milling
Batch Making1. Half Cup
2. Joining
3. Speeding
Half cup molding (Batch 1)
Half cup joining (Rubber
ball making)
Ball grinding, Size checking
& coating (Batch 3)Rubber ball covering
Rubber ball heat treatment
Side cutting, Buffing,
Brushin & Drin
Logo stamping
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Manufacturing Process of Sketch Pen Tip:
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3 Pcs pouch packing, Inner box
Winding of Yarns in Spool
Pass through Chemical
Tank
Send to puller unit of
Pullin
Cutting Unit
Grinding Machine for giving
Shape
Pass through Heat
Chamber
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VYK Rubber ProductsPlot No. J- 30, GIDC, Killa Pardi, Dist-Valsad, Pin-39-!"#.
Availability of Raw Materials and Utilities
RAW MATERIALS
Basic raw materials for manufacturing of VYK Rubber Products are Rubber,
Ranasit, White zing oxide etc. all the raw materials are indigenously available
within a months time.
UTILITIES:
Power:
The firm has acquired 52 HP of power connection load which is sufficient to run
the existing and proposed machinery. Hence the firm is not required to increase its
power load.
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Shorting, Cleaning &
Drying
Packin
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VYK Rubber ProductsPlot No. J- 30, GIDC, Killa Pardi, Dist-Valsad, Pin-39-!"#.
WATER: -
Water required for manufacturing and drinking & sanitation are available in house.
MANPOWER: -
Skilled and unskilled manpower is easily available.
The organizational set up and manpower requirements are given below. The duties
and responsibilities of the staff have been laid down for efficient operations of the
plant. The total strength of the staff and workers is as under:
Category No. of Posts
Accountant 01
Supervisor 01
Skilled labour 10
Unskilled Labour 22
Total 34
Industrial Scenario:-
The production of synthetic rubber was started in the Western countries such as
the US, the UK, Germany, Canada, France, Italy and Latin American countries like
Brazil and Mexico. Later, it was produced in the Southeast Asian countries viz.,
Japan, China, South Korea and Taiwan.
In the beginning a few types of synthetic rubbers (SR), mainly general-purpose
rubber, e.g., SBR was produced. Subsequently PBR and then buty1 rubber and
thereafter, polyisoprene rubber were produced. The intensive R&D activities led to
the production of specialty Rubber, such as neoprene, Nitrile, Silicone, VP Latex,
etc.
INDIAN RUBBER INDUSTRY
Rubber industry was established in India in the 1920s but its growth was
moderate in the pre-plan period and showed a phenomenal increase during the
post-plan period. The industry manufactures a wide range of products from rubber
erasers to rubber tyres.
Total area under rubber cultivation is nearly 5.67 lakh hectares about 97% of its
demand is met by indigenous production. Kerala, Tamil Naidu and Karnataka are
the traditional areas for natural Rubber production and the non-traditional areas
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are Andaman & Nicobar Islands, Meghalaya, Tripura, Mizoram, Nagaland, Mainpur,
Assam, etc. Kerala produces 97% of natural rubber and around 85% of the area is
under rubber cultivation.
Applications of Rubber
Natural Rubber constitutes 80% and synthetic rubber only 20% of the material
contents in tyres in India. In the world, ratio of natural rubber to synthetic rubber
is 30:70. In addition, rubber chemicals are also widely used in tyres.
Most of the RSS-4 grade natural required in the domestic tyre industry is produced
in the country and only a marginal quantity is imported. This is an advantage for
the tyre industry as natural rubber concludes 25% of the total cost of the raw
material used for the manufacturing tyres.
The synthetic rubbers used in tyres are SBR and PBR. While PBR is used in most
of the tyres, SBR is used in radial tyres for passenger cars. Synthetic rubber
accounts for 14% of the raw-material cost. Unlike natural rubber, India imports
about 60% of the synthetic rubber to meet its demand.
The raw-material costs for manufacturing a tyre account for 70% of the cost of its
production. The export and import policy allows tyre import of all tyres of new tyres
and tubes. Though import of all tyres of new tyres and tubes. Though
Imports of tyres and nonmaterial for tyres except natural rubber and under OGL,
only import of natural rubber from Sri Lanka is allowed under OGL.
In radial tyres, cords run bead at 90 degrees angle to the rim or along the outer
surface of the tyres are polyester, nylon, fiberglass and steel. Hence, these tyres are
more expensive as compared to the crossplies but the country, radial tyre account
for only 5% of the total tyre consumption as against 60% used in the world.
MARKETING ASPECTS OF THE FIRM:The firm has proposed to sell its products
directly to the customers.
Our Precious Customersa)Sta Ram Stationary Mart
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b)A.U. Trading Co.
c)Agarwal Agency
d)Shiva Marketing
e)Shri Sai Sports.
Our Supplier
a)Tirupati Sarees Pvt Ltd.
b)Shreeji Enterprises
c)Micro Chem.
d)Jay Veer Chemical
e)Shree Sai Enterprise
Financial Performance of the firm: - (Rs. In Lacs)
2012 2013 2014 2015 2016 2017 2018 2019
Particulars Audited Estimated Projected
Domestic
Sales(Gross) 77.38 124.00 157.38 203.89 225.59 246.21 266.82 287.44
Export Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Sales 77.38 124.00 157.38 203.89 225.59 246.21 266.82 287.44
% rise/fall (-)in net sales 0.00 60.25 26.92 29.55 10.64 9.14 8.37 7.73
Operating
Profit 0.25 0.37 1.11 2.44 3.62 5.41 7.04 8.55
Profit Before
tax 0.25 0.37 1.11 2.44 3.62 5.41 7.04 8.55
PBT/ Sales (%) 0.32 0.30 0.70 1.20 1.61 2.20 2.64 2.98
Profit After Tax 0.25 0.37 0.74 1.63 2.43 3.62 4.72 5.73
Cash Accrual 1.11 2.48 4.34 6.50 6.56 7.14 7.70 8.27
Paid Up
Capital 12.55 32.44 39.18 40.82 43.24 46.87 51.58 57.31
TNW 12.55 32.44 39.18 40.82 43.24 46.87 51.58 57.31
Adjusted TNW 12.55 32.44 39.18 40.82 43.24 46.87 51.58 57.31
TOL/TNW
(times) 5.40 0.97 1.68 1.82 1.74 1.63 1.50 1.35
Adjusted
TOL/TNW 5.40 0.97 1.68 1.82 1.74 1.63 1.50 1.35
NWC 9.52 33.88 34.56 37.46 40.42 43.96 48.07 56.33
Current Ratio 1.16 2.98 1.93 1.77 1.76 1.75 1.77 1.90
Sales:
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M/s. VYK Rubber products started their business in 2011 by manufacturing of
Tennis balls and other allied products. Thereafter in the F.Y. 2011-12 the firm
decided to expand its business by manufacturing new product i.e. Rubber balls.
Till date the performance of the firm was excellent in the market and the firm has
generated good credit worthiness in the market.
The Actual sales recorded in the book of the firm for the F.Y. 2011-12 is Rs. 77.38
Lacs and for the F.Y. 2012-13 it was Rs. 124.00 Lacs. Hence during the previous
financial year the sales of the firm boosted by almost 60.25%. This indicates that
the firm is increasing its turnover year by year.
Presently the firm has decided to expand its product line by manufacturing one
more new product i.e. Sketch Pen Tips. The firm has estimated its sales for the
F.Y. 2013-14 at Rs. 157.38 Lacs. The details of capacity of the firm are as under:
Existing: Tennis Ball: -
Tennis Ball 2014 2015 2016 2017 2018 2019
Installed Capacity (Lacs Pcs.) 4.80 4.80 4.80 4.80 4.80 4.80
Capacity Utilisation 45% 50% 55% 60% 65% 70%
Production (Lacs Pcs.) 2.16 2.40 2.64 2.88 3.12 3.36
Saleable Quantity (Lacs Pcs.) 2.04 2.39 2.63 2.87 3.11 3.35
Selling Price (Rs. Per Piece) 28.00 28.00 28.00 28.00 28.00 28.00
Sales (Rs. In Lacs) 57.00 66.81 73.53 80.25 86.97 93.69
Tennis ball is the existing product of the firm. The firm has installed capacity of
4.80 Lacs Pieces per annum of tennis ball. The firm has estimated only 45% of
total capacity utilization of the machine. The selling rate of the tennis ball is Rs.
28.00 per piece. Hence the firm has estimated the sales of Tennis ball of Rs. 57.00
Lacs for the F.Y. 2013-14.
Existing: Rubber Ball: -
Rubber Ball 2014 2015 2016 2017 2018 2019
Installed Capacity (Lacs Pcs.) 18.00 18.00 18.00 18.00 18.00 18.00
Capacity Utilisation 45% 50% 55% 60% 65% 70%
Production (Lacs Pcs.) 8.10 9.00 9.90 10.80 11.70 12.60
Saleable Quantity (Lacs Pcs.) 7.63 8.95 9.85 10.75 11.65 12.55
Selling Price (Rs. Per Piece) 12.00 12.00 12.00 12.00 12.00 12.00
Sales (Rs. In Lacs) 91.61 107.38 118.18 128.98 139.78 150.58
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Rubber ball is also existing product of the firm. Its installed capacity is 18.00 Lacs
Pieces of Rubber Balls. The firm has estimated to utilize only 45% of the total
installed capacity. Present selling rate of the rubber ball is Rs. 12.00 per piece. The
firm has estimated sales of Rs. 91.61 Lacs for the F.Y. 2013-14 which is reasonable
and achievable.
Further the firm has proposed to manufacture new product Sketch Pen Tips for
which the firm has to purchase new machines hence they have requested for the
Term Loan of Rs. 18.00 Lacs. Details of installed capacity and utilization of the
proposed product is as mentioned below:
Proposed: Sketch Pen Tips: -
Sketch Pen Tips 2014 2015 2016 2017 2018 2019
Installed Capacity (Lacs
Packets)
0.29 0.29 0.29 0.29 0.29 0.29
Capacity Utilisation 15% 50% 55% 60% 65% 70%
Production (Lacs Packets) 0.04 0.14 0.16 0.17 0.19 0.20
Saleable Quantity (LacsPackets)
0.04 0.14 0.16 0.17 0.19 0.20
Selling Price (Rs. Per Packet) 215.00 215.00 215.00 215.00 215.00 215.00
Sales (Rs. In Lacs) 8.77 29.69 33.88 36.97 40.07 43.17
During the current F.Y. 2013-14 the firm has proposed the utilization of the new
machine for 3 months i.e. from January 2014 to March 2014 as it will take almost
3 months after sanction of the term loan for the firm to get the delivery of the new
machine, erection and installation and trial run. Hence the firm has estimated only
15 % of the installed capacity during the current financial year. The firm has
estimated sales of Rs. 8.77 Lacs.
Total Sales: - (Rs. In Lacs)
Sales 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19
Tennis Ball 57.00 66.81 73.53 80.25 86.97 93.69
Rubber Ball 91.61 107.38 118.18 128.98 139.78 150.58
Sketch Pen Tips 8.77 29.69 33.88 36.97 40.07 43.17
Total Sales 157.38 203.89 225.59 246.21 266.82 287.44
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The firm has estimated total sales of Rs. 157.38 Lacs during the current F.Y. 2013-
14 which is easily justified. Further the firm has already achieved sales of Rs.
55.00 Lacs till August 2013 i.e. within 5 months period. The firm has proposed to
purchases new machinery for the productions of Sketch Pen Tips which will
increase their sales during the current F.Y 2013-14.
Moreover till date the firm was doing business without any credit facility from the
banks or financial institution but now the firm has requested for the cash credit
facility of Rs. 20.00 Lacs which will also help the firm to take bulk orders from the
market which will result in increase in turnover of the firm. During this period thefirm has already set up a good market in terms of clients and is very familiar with
the location.
Net Profit:
The actual net profit of the firm for the F.Y. 2011-12 and 2012-13 is Rs. 0.25 Lacs
and Rs. 0.37 Lacs. The firm has estimated for the F.Y. 2013-14 at Rs. 0.74 Lacs
which is slightly higher as the margin on the new product of the firm is higher as
compared to other two products. Further in the F.Y. 2014-15 the firm has
estimated net profit of Rs. 1.63 Lacs which is as per the trend of the firm and also
the sales in that year is estimated higher as the firm will be able to use its
maximum capacity in the F.Y. 2014-15 of new product. Hence the estimated and
projected net profit can be easily achievable.
Tangible Net Worth:
The actual TNW of the firm for the F.Y. 2011-12 and F.Y. 2012-13 is Rs. 12.55 Lacs
and Rs. 32.44 Lacs. Now in the current F.Y. 2013-14 the Firm has estimated
Tangible Net Worth at Rs. 39.18 Lacs. The TNW of the firm will increase as the firm
will infuse capital of Rs. 6.00 Lacs and also due to plough back of profit in the
business.
Current Ratio:
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The actual CR of the firm for the F.Y. 2011-12 and F.Y. 2012-13 is 1.16 and 2.98.
The firm has estimated & projected its current ratio at 1.93 and 1.77 for the F.Y.
2013-14 & 2014-15 respectively which are above the benchmark level.
Net Working Capital:
The actual NWC of the firm is Rs. 9.52 Lacs and Rs. 33.88 Lacs for the F.Y. 2011-
12 and F.Y. 2012-13 respectively. The firm has estimated NWC of Rs. 34.56 Lacs
and 37.46 Lacs F.Y. 2013-14 & 2014-15 respectively.
Justification of Cash Credit: -
M/S VYK Rubber Products is an engaged in manufacturing and processing of
rubber items such as Tennis Balls, Rubber Balls & other allied products. Now the
firm has decided to expand their business by manufacturing new product in the
market. So the firm has requested to Sanction of Fund based Cash Credit of Rs.
20.00 Lacs.
As per Second Method on Lending:
A/c M/S VYK Rubber Products (Rs. in Lacs)
31.03.13
(Audited)
31.03.14
(Estimated)
31.03.15
(Projected)
Accepted for
assessment
31.03.2014Gross Sales 124.00 157.38 203.89 157.38
Total 124.00 157.38 203.89 157.38
In previous year the firm achieved sales of Rs. Rs. 124.00 Lacs for the 2012-13.
Presently the firm has decided to expand its product line by manufacturing one
more new product i.e. Sketch Pen Tips. The firm has estimated its sales for the
F.Y. 2013-14 at Rs. 157.38 Lacs Further the firm has already achieved sales of Rs.
55.00 Lacs till August 2013 i.e. within 5 months period.
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The firm has proposed to purchases new machinery for the productions of Sketch
Pen Tips which will increase their sales during the current F.Y 2013-14. Moreover
till date the firm was doing business without any credit facility from the banks or
financial institution but now the firm has requested for the cash credit facility of
Rs. 20.00 Lacs which will also help the firm to take bulk orders from the market
which will result in increase in turnover of the firm. During this period the firm
has already set up a good market in terms of clients and is very familiar with the
location.
Further the Firm has projected sales of Rs. 203.89 Lacs for the F.Y. 2014-15.
Looking to the demand of the product in the market and promoters creditability
the firm is confident achieve the estimated and project sales.
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Basic Data (Rs. in Lacs)
Particulars 31.03.13
(Audited)
31.03.14
(Estimated)
31.03.15
(Projected)
Accepted for
assessment
31.03.2014Raw Material 110.13 133.78 167.71 133.78
Cost of production 115.49 146.87 186.96 133.78
Cost of sales 113.61 143.31 184.69 143.31
Net sales 124.00 157.38 203.89 157.38
Holding Level (Period in months)
31.03.13
(Audited)
31.03.14
(Estimated)
31.03.15
(Projected)
Accepted for
assessment
31.03.2014
Raw Material 1.15 1.35 1.10 1.35
Stock in Process 0.21 0.35 0.27 0.35
Finished goods 0.64 0.80 0.77 0.80
Receivables 2.95 3.00 3.00 3.00
Creditors 1.61 1.00 1.50 1.00
Holding Level:
Raw Material:
The Firm has been holding Raw materials at 35 Days. This is due to the position of
the firm as on particular day. The Firm informed that their average holding is
around 45 to 50 Days. The Firm has proposed holding level of stock of Raw
materials at 33 days for the Projected Year 2014-15.
Stock In Process:
The firm has maintained its stock in process level 6 to 10 days approx.
Finished Goods:
The Finished goods are held at 19 days Approx. The firm is dealing mainly in
production of various kinds of balls now the firm will also be in another product
mix called Sketch Pen tip which they will introduce in to the market so the partner
of the firm will hold its finished goods up to 24 days Approx for the financial year
2013-14 because they have to aware their newly product in to the market whichrequire stock held in hand.
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Receivables:
The receivable holding level was at 89 Days for the FY (12-13). The firm informs
that, this is the normal trend of the industry and further also the firm has
estimated its debtor holding level is at 90 days only.
Holding Level of Sundry creditors:
The creditors holding level is at 48 days for the Last years. This is due the firms
dependency on Market borrowings. The firm has proposed and projected to
maintain their Creditor level at bare minimum level of 30 days, which is justified
and acceptable.
Chargeable Current Assets: (Rs. in Lacs) 31.03.13
(Audited)
31.03.14
(Estimated)
31.03.15
(Projected)
Accepted for
assessment
31.03.2014
Raw Material 10.57 15.05 15.37 15.05
Stock in Process 2.04 4.24 4.27 4.24
Finished goods 6.02 9.59 11.86 9.59
Receivables 30.48 39.35 50.97 39.35
Total 49.11 68.23 82.47 73.22
Other Current Assets: (Rs. in Lacs)
31.03.13
(Audited)
31.03.14
(Estimated)
31.03.15
(Projected)
Accepted for
assessment
31.03.2014
Cash & bank balance 1.59 2.00 2.00 2.00
Other Current Assets 0.26 1.41 1.91 1.41
Total 1.85 3.41 3.91 3.41
Other Current Liabilities: (Rs. in Lacs)
31.03.13
(Audited)
31.03.14
(Estimated)
31.03.15
(Projected)
Accepted for
assessment
31.03.2014
Creditors 14.76 11.15 20.96 11.15
Other current liabilities 2.32 5.92 7.96 5.92
Total 17.08 17.07 28.92 17.07
NWC and Current Ratio: (Rs. in Lacs)
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31.03.13
(Audited)
31.03.14
(Estimated)
31.03.15
(Projected)
Accepted for
assessment
31.03.2014
NWC 33.88 34.56 37.46 34.56
Current Ratio 2.98 1.93 1.77 1.93
Comments:
Current Ratio:
The actual CR of the firm for the F.Y. 2011-12 and F.Y. 2012-13 is 1.16 and 2.98.
The firm has estimated & projected its current ratio at 1.93 and 1.77 for the F.Y.
2013-14 & 2014-15 respectively which are above the benchmark level.
Net Working Capital:
The actual NWC of the firm is Rs. 9.52 Lacs and Rs. 33.88 Lacs for the F.Y. 2011-
12 and F.Y. 2012-13 respectively. The firm has estimated NWC of Rs. 34.56 Lacs
and 37.46 Lacs F.Y. 2013-14 & 2014-15 respectively.
As per Second Method on Lending:
MPBF (Max Permissible Bank Finance)
Sr. Particulars 2014 2015
(Rs.In Lacs)(Rs.In Lacs)
1 Total Current Assets 71.63 86.38
2
Other Current Liabilities (other than bank
borrowings) 17.06 28.92
3 Working Capital Gap (WCP) (1-2) 54.56 57.46
4
Minimum stipulated Net Working Capital - 25%
of total current assets other than ExportReceivables 17.91 21.60
5 Actual/projected net working capital 34.56 37.46
6 Item 3 minus item 4 36.66 35.87
7 Item 3 minus item 5 20.00 20.00
8
Maximum permissible bank finance (item 6 or 7
whichever is less) 20.00 20.00
9
Excess borrowings, if any representing short fall
in NWC (4-5) - -
Comment:
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Presently the firm is not enjoying any credit facility with any bank so the firm is
requesting bank to sanction the Fund Based Working Capital of Rs. 20.00 Lacs, As
per above Assessment hence the same is justifiable.
Justification of Term Loan: -
The partner of the firm is planning to expand their business by introducing new
production facility of Sketch Pen Tips in to the market so the firm has requested
fresh Term loan of Rs. 18.00 Lacs.
(Rs. In Lacs)
Sr. No. Cost of Project Amount Means of Finance Amount
1. Plant & Machinery 22.05 Bank Term Loan 18.00
2. Installation 2.00 Owners contribution 6.05
Total 24.05 Total 24.05
PLANT & MACHINERY:
List of Machineries to be purchased:
Sr. No. Particulars Name of SupplierAmount
(Rs. In Lacs)
1 Rubber Ball Die Jay Industries 4.62
2 Mixing Mill Machine
Ganesh Products
4.99
Die Clamping Wire
Press
3. Sketch Pen Tip Machine Bhagwati Enterprise 12.44
4. Installation Expense 2.00
GRAND TOTAL 24.05
For completion of above project, we have request the Bank for Term Loan of Rs.
18.00 Lacs and the balance amount of Rs. 6.05 Lacs will be infused by the firm
from its own sources.
Comments on projected profitability: -
DSCR 2015 2016 2017 2018 2019
Net Profit 1.63 2.43 3.62 4.72 5.73
Depreciation 4.86 4.13 3.51 2.99 2.54
Int. on TL 2.25 1.76 1.28 0.79 0.30
Cash Accruals 8.75 8.32 8.42 8.49 8.57
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Int. on TL 2.25 1.76 1.28 0.79 0.30
Repayment 3.60 3.60 3.60 3.60 3.60
Cash Payment 5.85 5.36 4.88 4.39 3.90
DSCR 1.50 1.55 1.72 1.93 2.20
Average DSCR 1.75
From the above it may be perused that the average D.S.C.R. works out to be at
1.75, which do not envisage any problem in repayment of the Term Loan
Installments and Interest, thereon by the party.
Proposed repayment schedule
Proposed Term Loan will be repaid over a period of 5 Years in 60 Monthly
installments of Rs. 30,000/-, the first Term Loan Installment will start from April2014. The interim period would be moratorium period. The interest is to be paid as
and when charged.
Implementation Schedule: -
Sr. No. Particulars Remarks
1. Order of Machine 1stweek of October 2013
2. Delivery of Plant and Machinery 1stWeek of December 2013
3. Installation and Erection of Machine 3rd
Week of December 20134. Trial Run 4thWeek of December 2013
5. Commercial Production January 2014
SECURITY:
Primary Security :-
Working Capital: -Hypothecation of Stocks and Book Debts of the firm.Term Loan: -Hypothecation of Existing and Proposed Plant & Machineries of the
firm.
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