Eagle Tyres Ltd. an existing tyre and tube manufacturing unit proposes to expand its operations and increase its manufacturing capacity. Details of the working capital requirements of the company projected for the first year of operations after expansion are as given under: Items Rupees in lakh Raw materials 480.00 Consumables 24.00 Work-in-process 65.00 Finished goods 236.00 Receivables 686.00 Other current assets (other than cash) 100.00 Sundry creditors 600.00 The margin money requirement is 25% of working capital gap. Existing margin money and bank finance for working capital amount to Rs.223 lakh and Rs.660 lakh respectively. Required: Determine the existing working capital with the company prior to expansion and the increase in working capital required given that the companys existing creditors were worth Rs.75 lakh.

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