By Sharda Associates | CA Firm, Bhopal
You Need a TEV Report — We Prepare It for Banks, NBFCs and Investors Across India
Whether you are a business owner applying for a large term loan, an NBFC conducting due diligence on a borrower, or an investor evaluating a project before committing capital — a TEV Report is the independent, structured assessment that gives every stakeholder the confidence to make an informed decision.
At Sharda Associates, a CA firm in Bhopal, Madhya Pradesh, we prepare comprehensive TEV Reports for banks, NBFCs, and investors across India — covering complete technical feasibility, economic viability analysis, market assessment, management evaluation, and risk analysis. Our TEV Reports are prepared personally by qualified Chartered Accountants with hands-on experience in bank credit appraisal, project finance, and MSME lending across all major industry sectors.
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What is a TEV Report
TEV stands for Techno Economic Viability. A TEV Report is an independent, comprehensive assessment that evaluates a proposed project or business from two specific angles — technical soundness and economic viability — and presents the findings in a structured format that banks, NBFCs, and investors can use for their credit appraisal, due diligence, or investment decision.
A TEV Report answers the two most fundamental questions any lender or investor has about a project.
First — is this project technically sound? Can it actually be built, commissioned, and operated at the proposed scale using the stated technology, machinery, and resources?
Second — is this project economically viable? Will it generate enough revenue, profit, and cash flow to repay the loan or deliver the expected return on investment — even under adverse scenarios?
A TEV Report is not prepared by the borrower. It is prepared by an independent qualified assessor — a CA firm or technical consultancy — to provide the lender or investor with an objective, third-party evaluation of the project that is not influenced by the promoter’s own optimism.
Who Needs a TEV Report
Banks and Financial Institutions
Public sector banks — SBI, PNB, Bank of Baroda, Union Bank, Canara Bank, and others — require TEV Reports for term loans above Rs.2 crore, project finance applications, large manufacturing sector loans, and any application where the credit committee needs independent technical and economic validation before approving a significant lending commitment.
Private sector banks — HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank — require TEV Reports for large project finance applications and high-value term loans where in-house technical assessment is not available.
Regional Rural Banks and Cooperative Banks require TEV Reports for larger loans to agricultural processing, cold storage, and rural infrastructure projects.
NBFCs
Non-Banking Financial Companies require TEV Reports as part of their due diligence process before disbursing large loans to manufacturing businesses, infrastructure projects, and capital-intensive service businesses. NBFCs typically have their own internal credit appraisal teams but require an independent external TEV to supplement their in-house assessment for large tickets.
SIDBI — Small Industries Development Bank of India — requires TEV Reports for term loans and refinance applications above a defined threshold under its various MSME lending schemes.
Investors and Private Equity
Private equity investors, angel investors, and venture capital firms evaluating manufacturing, infrastructure, or capital-intensive business investments require TEV Reports as part of their investment due diligence — confirming that the project is technically feasible and that the financial projections presented by the promoter are grounded in real market and technical data.
Promoters and Business Owners
Business owners applying for large loans can commission a TEV Report proactively — before the bank requests it — to strengthen their loan application. A proactively submitted TEV Report demonstrates to the bank’s credit committee that the promoter is serious, well-prepared, and confident in the project’s viability.
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What Our TEV Report Covers — All Sections
Every TEV Report prepared by Sharda Associates covers all the sections banks, NBFCs, and investors require for a complete technical and economic assessment.
Technical Assessment
Process Technology Evaluation Assessment of the specific technology proposed for the project — whether it is commercially proven and established, what alternatives exist, and whether the chosen technology is appropriate for the scale and location of the project.
Plant Capacity Assessment Independent verification that the proposed installed capacity is technically achievable using the specified machinery and production process — and that the capacity utilisation assumptions used in the financial projections are realistic based on industry benchmarks.
Machinery and Equipment Assessment Detailed assessment of all proposed machinery and equipment — specifications verified against production requirements, cost estimates verified against current market rates from authorised suppliers, supplier credibility assessment, and lead time analysis for procurement and installation.
Raw Material Assessment Verification of raw material availability, quality specifications, pricing grounded in current market rates, supply chain reliability, and assessment of any supply concentration risk.
Site and Infrastructure Assessment Assessment of the proposed project site — land availability and ownership, connectivity to raw material sources and product markets, power and utility availability and adequacy, environmental compliance requirements, and any site-specific risks.
Implementation Schedule Assessment Independent review of the proposed implementation timeline — from loan disbursement to commercial production — verifying that each phase is realistic given the civil construction, equipment procurement, installation, and commissioning requirements, and confirming that revenue generation will begin before the moratorium period ends.
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Economic Viability Assessment
Cost of Project Verification Independent verification of every cost item in the project — land and building costs, machinery and equipment costs, working capital requirements, pre-operative expenses, and contingency provision — confirmed against actual market data.
Revenue Projection Assessment Independent assessment of the revenue projections — verifying that projected selling prices are consistent with current and historical market prices, that projected sales volumes are achievable given the market demand analysis, and that the revenue growth trajectory is realistic based on industry trends.
Profitability Assessment Complete Profit and Loss projection for the entire loan repayment period — independently verified — showing gross profit, operating profit, interest, depreciation, and net profit after tax for each projection year.
Cash Flow Analysis Detailed Cash Flow Statement for the projection period — verifying that the project generates positive net cash flow throughout the repayment period and that working capital requirements are adequately funded.
DSCR Calculation Independent DSCR calculation for every year of the loan repayment period — verified against the specific bank’s or NBFC’s minimum DSCR threshold. DSCR must remain above 1.25 for every repayment year. Our CA team structures the economic assessment to ensure DSCR is correctly calculated and clearly presented for the credit committee.
Break-Even Analysis Calculation of the minimum capacity utilisation level at which the project covers all its costs — giving the bank or investor a clear understanding of the project’s downside resilience.
Sensitivity Analysis Assessment of project performance under adverse scenarios — including selling price reduction of 10 to 20 percent, capacity utilisation reduction of 20 to 30 percent, and raw material price increase of 10 to 15 percent — demonstrating the project’s repayment viability even under stress conditions.
Market Assessment
Demand Analysis Assessment of current and projected demand for the product or service — based on verified industry data, government reports, and market research — confirming that sufficient demand exists to support the projected sales volumes.
Supply Analysis Assessment of current and projected supply — identifying existing competitors, their production capacities and market shares, and the demand-supply gap that justifies the new project.
Pricing Analysis Historical price trend analysis for the product or service — assessing price volatility, seasonal patterns, and the sustainability of the projected selling prices over the loan repayment period.
Market Linkage Assessment Assessment of the promoter’s existing or proposed customer relationships, distribution network, and marketing strategy — confirming that there is a credible route to market for the product or service.
Management Assessment
Assessment of the promoter’s educational and professional background relevant to the project, previous business experience and track record, technical knowledge of the specific industry and production process, and the organisational structure proposed for managing operations through the implementation and commercial operation phases.
Risk Assessment
Comprehensive identification of all significant project risks — technology risk, market risk, raw material risk, regulatory and environmental risk, management execution risk, and financial risk — with specific mitigation strategies for each risk.
Industries We Serve
Our TEV Report preparation team at Sharda Associates covers all major industry sectors.
Manufacturing covers steel fabrication, plastic products, packaging materials, wooden furniture, readymade garments, paper products, chemicals, pharmaceuticals, and engineering goods.
Food Processing covers dal mills, flour mills, oil mills, rice mills, spice processing, bakery businesses, dairy processing, packaged food, cold storage facilities, and agro-processing units.
Service Businesses covers hospitals and nursing homes, diagnostic centres, hotels and resorts, restaurants, logistics and transport companies, IT businesses, and event management.
Agriculture and Allied covers horticulture projects, organic farming, agro-processing, farm equipment businesses, warehousing and storage, and rural entrepreneurship projects.
Infrastructure covers civil contractors, industrial parks, cold chain infrastructure, rural connectivity projects, and renewable energy installations.
For each industry our technical assessment is grounded in actual industry data — verified machinery costs, current raw material prices, realistic capacity utilisation benchmarks, and real market demand data specific to the project location in Madhya Pradesh and across India.
Why Choose Sharda Associates for TEV Report Services
At Sharda Associates every TEV Report and supporting document is personally prepared by a qualified Chartered Accountant with direct hands-on experience in bank credit appraisal and project finance across all major industry sectors.
We are based in Bhopal, Madhya Pradesh. When you call us you speak directly to a CA — not a call centre, not a freelancer, not a software tool. We understand the specific requirements of banks and NBFCs across Madhya Pradesh — SBI, PNB, Bank of Baroda, Union Bank, Canara Bank, SIDBI, and all Regional Rural Banks operating in the state.
Our TEV-aligned documentation is accepted by all major banks, NBFCs, and government scheme portals across India including PMEGP, CMEGP, CGTMSE, Mudra, NABARD, and Stand Up India.
All revisions are completely free unlimited until your bank or NBFC is fully satisfied and your loan is approved. We stay with you through every bank query and revision request at no extra charge.
Detailed Project Report starting at Rs.4,999. CMA Report starting at Rs.2,999. Feasibility Report starting at Rs.2,999. Project Report starting at Rs.2,999. Delivery in 5 to 7 working days. Urgent delivery in 24 to 48 hours available.
Documents Required
- Complete project concept note or business plan
- Land documents — ownership or lease agreement
- Machinery list with specifications and quotations from authorised suppliers
- Civil construction estimate from contractor
- Raw material details with current market prices
- Power and utility connection details
- Regulatory approvals obtained or applied for
- Promoter CV with educational and professional background
- Last 2 to 3 years ITR and audited financials for existing businesses
- Last 6 months bank statements
- Any existing market research or demand study
Conclusion
A TEV Report is the cornerstone of any large bank loan or NBFC financing application. It provides the independent technical and economic validation that gives credit committees the confidence to approve significant lending commitments — and gives investors the assurance they need before committing capital to a project.
At Sharda Associates we prepare complete TEV-aligned documentation packages — TEV Report, Detailed Project Report, CMA Report, and Feasibility Report — personally, carefully, and with the banking and project finance expertise built from helping 12,500 plus businesses across India get their loans approved.
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Frequently Asked Questions
Q1 What is a TEV Report for banks and NBFCs?
TEV stands for Techno Economic Viability. A TEV Report is an independent assessment covering technical soundness and economic viability of a project — required by banks and NBFCs for large loan applications above Rs.2 crore. It gives lenders independent confirmation that the project is viable and that the financial projections are credible.
Q2 Is TEV Report mandatory for all bank loans?
No. TEV Reports are typically required for term loans above Rs.2 crore and large project finance applications. For smaller loans a Project Report, Feasibility Report, and CMA Report are usually sufficient.
Q3 What is the difference between TEV Report and Feasibility Report?
A Feasibility Report covers 5 types of feasibility and is prepared by your CA firm. A TEV Report is a more comprehensive independent technical and economic assessment required by banks and NBFCs for large loan applications.
Q4 Do I need a DPR along with TEV Report?
Yes. For large loans both a Detailed Project Report and a TEV-aligned documentation package are required alongside the CMA Report. All documents must be completely consistent with each other.
Q5 Can NBFCs also request a TEV Report? Yes. NBFCs require TEV Reports as part of their due diligence for large loan applications — particularly for manufacturing, infrastructure, and capital-intensive service businesses.
Q6 How long does TEV Report preparation take?
At Sharda Associates standard delivery is 7 to 10 working days from receiving complete documents. Urgent delivery is available for time-sensitive bank deadlines.
Q7 Do you also prepare CMA Report with TEV-aligned DPR?
Yes. We prepare your Detailed Project Report, CMA Report, Feasibility Report, and Project Report as a complete integrated package ensuring consistency across all documents.
Q8 What if the bank asks for revisions after receiving the TEV documentation?
All revisions are completely free unlimited until your bank or NBFC is fully satisfied and your loan is approved