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Pak Animal

1 Feed Mill

A Project on:

Pak
Animal
Feed
Mill

Submitted To:
Sir Javeed Iqbal

Submitted By:
Muhammad Arshad 72
Muhammad Qasim 113
Irfan Siddique 73
Muhammad Younis 65

M. Com 4th (Morning)


Session 2008-2010

Commerce department
Pak Animal
2 Feed Mill

Commerce department
Pak Animal
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1 Preface
2 Dedications
3 Acknowledgement
4 Executive Summary:
5 Company Profile
a. Address of Company
b. Location of Project
c. Product Range Mix
d. Installed Capacity
e. Capacity achieved
6 Estimated Cost of Project
f. Fixed Cost
g. Initial Working Capital
7 Means of Finance
8 Names of Financiers
9 Names of Civil Contractor
10 Names of Machinery Suppliers
11 Machinery Detail
12 Machinery
13 Implementation Schedule
14 SWOT Analysis
15 Market Analysis
16 Technical Analysis
17 Personnel Analysis

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18 Financial Analysis
19 Schedule of Cost of Project
20 Assumptions
21 Project Return and Ratios, Means of Finance
22 Project Visit Highlights
23 End words

Project Management is an integral part of M.com Specialization in Finance, because it


gives us the practical knowledge of what we have learnt during our study period.
Now a day the business environment keeps on changing everywhere. New dimensions
of business are coming before us. These dramatic and dynamic changes in business
world require the specialties about the all aspects of business of today. Because of
these requirements business knowledge became important and business education
becomes the need of time. The person with latest knowledge can survive in this vast
field.
The purpose of the project feasibility is to broaden the vision of practical experiences
with theoretical knowledge as it increases one’s capabilities to handle problems at
various stages and the ability of decision.
We have tried our best to collect the valuable information and its relevant facts
regarding the animal’s feed mill plant. We also have visited the plant working at
Industrial State Multan (food & feed mills) for making our project reliable and
successful.
This project concerning with animal food production namely “PAK ANIMAL

FEED MILL”.

Commerce department
Pak Animal
5 Feed Mill

Muhammad
Arshad
Muhammad
Qasim
Irfan
Siddique
Muhammad
Youni

Commerce department
Pak Animal
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We pay our humble gratitude, with humility and submission, to ALLAH,

the Almighty, the Omniscient, the Omnipotent & the Omnipresent, who

bestowed our potential to accomplish this task. The completion of this

issue is, mere, the blessing of ALLAH and Holy Prophet Hazrat

Muhammad (S.A.W).

Commerce department
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Secondly, we must mention “Sir Javed Iqbal” for being kind

enough to extend his baseline guidance in the completion of this project

report.

We also thank everyone else including our respectable teachers and

outspoken friends of the Department who helped in one way or another

in the completion of this project.

Title “PAK ANIMAL FEED MILL”

Project Assignment:

Commerce department
Pak Animal
8 Feed Mill

Each student of M.com. (Finance) 4rd semester required


preparing a sold Project Assignment. The Project assignment is
given to increase our knowledge about “Project Management”.

Objectives:

1. SWTO analysis of Cattle Feed.


2. Identify and list down the all aspects and important points
of Feed Industry.
3. What is a Production Process.
4. What is Cost of unit, Means of finance, Estimated income
statement, Estimated Balance sheet, etc.

Approach to Project:

The Team of project will, analyze, summarize, and interpret the


data, which are collected different primary and secondary
sources.

Data Collection:

Both primary and secondary means of data will be used to


collect the Data. Like Books, Internet, personal visits, teacher
guidance etc.

Primary Sources:

The Team of Project personally visited the FOOD & FEED


MILL for practical view: Unit selected is;
‘PREMIUM FEED MILL MULTAN’
Questionnaire:
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Commerce department
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Project Team has prepared a Questionnaire that contains 100


Questions and exists on 15 pages for Management of
‘PREMIUM FEED MILL MULTAN’
.
Data Preparation & Analysis:

After collection of all the data through both primary &


secondary means, team will used MS. Word, MS. Excel, MS.
Power point etc.

Time Frame:
Time period is allowed is one month 10/8/2010 to 15/06/2010.

Limitation:

Team has visited the various people but the information given
by them is just based of approximation.

Name of Project

‘PAK ANIMAL FEED MILL’

Location of Project
Head office: P.O. BOX. 1245 SAMA SATHA ROAD Bahawalpur

Tel: 0622-88595
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Fax: +92-62-88834, 777523

Contact Person: Hasan Qureshi


( CEO)
E-mail: arshad_14u11@ yahoo.com
Muhammad Arshad
Branch: Sama Satta Link Road Bahawalpur.

CITY
“ Bahawalpur”

LOCATION
“At K.L.P road near Asia Ghee mill”

PRODUCTS

1. Milky Wanda
2. Fat Wanda

Installed Capacity

The capacity of projected plant produces 364,454


Bags at 100% Efficiency per Year.

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Cost of Project

Commerce department
Pak Animal
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Fixed Cost 46,229,877

Initial Working Capital + 23,770,123

70,000,000

Means of Finance

Debt 60%
Equity 40%

Names of Lender

Muslim Commercial Bank Ltd. Bahawalpur.

Names of

A.M.ARSHAD
B.M.QASIM
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C.IRFAN SADIQUE
D.YOUNIS KANJO

Name of Civil
Contaractor
“Amin & Co. LDA Plaza, Lahore”
.
Name of
MachinerySupplier
“Uzair & Co. Engineering Limited,Lahore”
Implementation Schedule
Implementation Schedule:
Over project is constructed with in months and the
construction period is start for May 30th 2010. The estimated
implementation Schedule is as follows.
Selection, Purchase and the
Registration of Land. 1st June to 20th June
Construction of Building 25th June to 25th
November.
Arrival and installation of
Machinery 10th July to 15th
December
The production of the firm is now started January 1st 2011 and they work
properly for fulfill the demand of the animal feed.

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Commerce department
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Address of Company:

At K.L.P road near Asia Ghee mill

Head Office of Pak Animal Feed Mill is Located in the heart of Bahawalpur city
which is easily approachable by key regions of Punjab.

The processing unit is located in Ashraf Abaad near Ashraf Suga Mills 2 Km From
Khanga Shreef.

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Commerce department
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14 Feed Mill

Unit is producing two basic types of “Pak Wanda” for different categories of Animal
i.e.
1. Pak Milky Wanda for Milky Animals

2. Pak Fat Wanda

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Installed capacity of our processing unit


is 100 percent, which is 41tonns per day

Currently the unit is achieving the capacity of 75 percent, which is 30 tonns per day

Total Estimated cost of project is

Fixed Cost Rs 46,229,877

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Initial Working Capital Rs 23,770,123

Total cost of project Rs 70,000,000

Mixture

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is a pre-requisite in profitable dairy and livestock farming.


• Feed Processing Unit establishing according to modern techniques with
proper utilization of locally available cheaper feedstuffs leads to success in
dairy and livestock farming hence for feed business too.

Weaknesses
• Limited availability of protein sources of standard quality due to low or
limited production, processing technology, variable composition and
adulteration.
• Comparatively poor nutrient composition of home-grown feed ingredients
due to differences in varieties and use of improper soil fertilizers.
• Improper use of pesticides, the residues of which result in poor feed
utilization.
• Lack of proper storage facility. Due to this fact various agricultural products
when produced under quite high moisture content, thus liable to be affected
with insect damage, auto-oxidation and fungal contamination.
• Lack of nutritional data of indigenous feed ingredients particularly for amino
acids, energy, vitamins, minerals and by pass protein value especially in high
producing cattle/buffalo.
• Improper storage, transfer, grading, feed milling and mixing of feed
ingredients may also affect the quality of feed.

Opportunities
• The annual growth rate in livestock population of Pakistan was 3.8 percent
(Economic Survey of Pakistan, 2007-08) due to which there is demand for
compound feed. The increased productivity would require better feed
utilization and increase in overall feed availability both from fodder crops and
formulated compound feed.
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• The agro industrial by products can be better utilized in formulated compound


feed.
• In order to meet the rapidly increasing demand for the various kinds of
livestock products (Milk & meats), the better rations with improved feed
formula are needed to get more meat and milk, for the same feed supplies. By
increasing livestock numbers, rather than their average weight, the feed
requirements are much larger.

Threats
• Implementation of WTO. Open and competitive commodity pricing
• There is no feed ingredient quality control program as improper storage,
transfer, grading, feed milling and mixing of feed ingredients may also affect
the quality of feed.
• The prices of different feedstuffs vary through out the year. Improper storage
of raw material can affect its nutritional value.
• There is limited availability of protein sources of standard quality due to low
or static production, processing technology, variable composition and
adulteration.
• Lack of awareness among dairy and livestock farmers to use compound feed
for the high production of their animals is a constant threat for feed mill
business as well.

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The size of this sector is still growing. Animal feed mills have been set
up around the areas where the livestock are kept in abundance. Feed is a
major cost (about 70%) in livestock and dairy farming.
The processing and manufacturing of feed along with the efficient use
of feed by cattle also contribute to the cost of feed. NWFP is a relatively
poor province with average income levels estimated to be about 10%
lower than the rest of country. The provincial economy is mostly agrarian
with a limited industrial base.
The Agriculture sector contributes 30% of GDP and out of this sub
sector Livestock alone contributes 18% to GDP. The demand for
compound feed and Urea Molasses Blocks (UMB) is increasing day by
day with the increase in awareness among farmers. No animal feeds a
mill is operating in the surrounding areas of the project, therefore it is
obvious that the project shall yield better results
The trend for concentrate feeding to livestock is changing from the
conventional concentrate feeding to a formulated compound feed.
Nowadays, compound feed is used by many livestock and dairy farmers
to get the maximum potential in terms of milk and meat. Compound feed
and UMB are very beneficial as both provide all essential nutrients to the
animal.

PRODUCT MANUFACTURING PROCESS


The compound feed preparation process requires.
a) High accuracy and precision of weighing
b) feed ingredient handling and processing
c) Mixing

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d) Packing
e) Labeling

A liquid storage and a direct-weight system for adding fat, molasses, and water is
required.
Grain processing is done through hammer mill grinding. Mixed feed is delivered in
bags or bulk load out to livestock farms.

Raw Material Requirement:

Cattle are ruminant animals with four compartment stomach, capable of utilizing
fibrous
feedstuffs (forages, roughage, and by product feeds) and Non-Protein Nitrogen (NPN)
source like urea that humans cannot utilize. By producing a high-quality protein from
these resources otherwise unusable by humans, cattle make a positive contribution to
human
nutrition in terms of meat
and milk

Suggested marketing pattern should be as follows

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Product Demand Supply Gap % Surplus/Deficit


Motton 820 723 (97) (13)%
Beef 999 1087 88 8%
Milk 15044 28624 13580 90%

Target Market:
The target markets of our project national market. Initially we will sell our product to
target region of Multan, Lodharan, Bahawalnagar, Rahim yar khan and Bahawalpur.

Punjab, the nutritional requirements are mainly met through fodder crops,
shrubs, grasses, and agro industrial wastes. Punjab produces about 45 million tonnes
of fodder from 2.03 million hectares of land with an average yield of 22 tonnes/ha
(Younas and Yaqoob, 2005). The existing available feed resources can only fulfill the
maintenance requirements of animals.
Improving the quantity and quality of feeds could substantially enhance livestock
production from the existing genetic pool of animals. The gap between the
requirement and availability ofnutrients could be minimized both through proper

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fodder research and extension policies in terms of better quality seed, seed rate and
improved agronomic practices.
The National Commission on Agriculture (NCA) 1988 suggested that "if all animals
in milk receive full diet which meets their daily appetite without changing the feed
mix i.e. maintaining the present poor nutritional requirement balance, this alone could
increase milk yield by 100 per cent."

Table 4-3 Livestock (Population Growth) (Numbers in Millions)


Fiscal Year Buffaloes Cattle Goats Sheep Poultry
2000-01 23.3 22.4 49.1 24.2 292.4
2001-02 24.0 22.8 50.9 24.4 330.0
2002-03 24.8 23.3 52.8 24.6 346.1
2003-04 25.5 23.8 54.7 24.7 352.6
2004-05 26.3 24.2 56.7 24.9 372.0
2005-06 27.3 29.6 53.8 26.5 433.8
2006-07 28.2 30.7 55.2 26.8 443.2
2007-08 29.0 31.8 56.7 27.1 510.1

Opportunity Rationale

Livestock production is an integral part of Pakistan's agriculture sector and plays a


vital role in national economy. At present, livestock is contributing about 52% to the
agricultural sector and 10.9% to the GDP. Pakistan is geographically located close to
the Middle East and South-East Asia.
Both of these regions are deficient in livestock products and depend upon import from
other countries. The livestock industry in most of the developed world is highly
subsidized. With reduction of subsidies in the wake of WTO, the local livestock
sector should have better opportunities to compete.
Livestock registered a strong growth of 4.30% over the last year’s impressive growth
of 7.5% due to increase in the livestock and poultry products.
The role of livestock in rural economy may be assessed by the fact that 30 to 35
million of the total rural population is engaged in livestock farming, having 2 to 3

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cattle/buffalo and 5 to 6 sheep/goats per family deriving 30% to 40% of income from
it.
During year 2007-08, the total red meat production was 1.55 and 0.58 million tons
for beef and mutton, respectively. The per capita consumption indicates a growing
demand of meat in the years to come. Calves for
F
attening may come from the dairy herd
Duping machin 1 400000 400000
Chain convener 1 50000 50000
Hopper 2 55000 55000
Rotary chain 1 25000 25000
Mixture 1 150000 150000
Evulator 1 130000 130000
Pilot machin 1 250000 250000
Roster 1 150000 150000
Boilor 1 90000 90000
Cooler 1 100000 100000
Grander machine 1 160000 160000
Packing hoper 1 100000 100000
Electronic
Genrator Generator 1 100000 100000

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Major machinery of Pak Animal Feed


Mill is brought from Germany and
France. But we have also acquired the local machinery which is easily available and
economical in Pakistan.
Hooper Elevator and Grinding Machine, Motors,

Items of local Machinery

Sr.# Name of Machinery Qty


1 Duping machine 1
2 Chain convener 1
3 Hopper 2
4 Rotary chain 1
5 Boilor 4
6 Cooler 1
7 Grander machine 1
8 Packing hoper 1
9 Electronic Genrator 5

Items of foreign Machinery

Sr.# Items Qty


1 Mixture 1
2 Elevator 1
3 Pilot machin 1
4 Roster 1

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Boiler

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Elevator

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Packing machine

Animal Food Process

A. Factory Staff (Including Managerial, Technical, Skilled and un-skilled ).

Annual Salary
Designation number Salary Pm 2011
CEO 1 65000 780000
1 G.M(Doctor) 1 60000 720000
2 Techical manager 2 50000 1200000
Financial manager 1 50000 600000
3 Doctors 6 35000 2520000
4 Supervisor 3 22000 792000

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5 Shift Incharge 1 16000 192000


6 salary& wages of workers 3000000 36000000
7 Machine Operator 3 13000 468000
8 Security Guard 3 8000 288000
9 Driver 3 8000 288000
Mali 2 5000 120000
10 Sweeper 2 6000 144000
Total A 44112000
Add Fringe Benefits
50% of total 22056000
66168000

B. Administrative and General Staff

Annual salary
Designation Nunber Salary PM 2011
1 Chief Accountant 1 55000 660000
Assistant
2 Accountant 3 35000 1260000
3 Office Boys 2 10000 240000
4 Receptionist 1 15000 180000
Total B 2340000
Add Fringe Benefits
50% of Total 1170000
3510000

5
C. Sales Staff

Desinations number Salary PM A.salary 2011


marketing
1 mangere 1 50000 600000
2 Assistnats of M.M 3 35000 1260000
3 Sale Manager 1 40000 480000
3 Advertising 240000 240000
Total C 2580000
Add Fringe Benefits
50% of Total 1290000

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Ratio

Gross profit Margin 40% 48% 50%


Operating Profit Margin 36% 44% 47%
Net Profit Margin 18% 25% 27%

Assumption

OPERATING ASSUMPTIONS
Working days in a year 301
Shifts Operational 1
Hours per shift 8
Initial year Capacity utilization 60%
Production Capacity (Tons per
( Ton per day) 40
Anum) 1 ton=
Annual Production Capacity (Tons) 12,040 1man=
One bag contain kg 37 1 bg
Maximum Capacity utilization 90%
Accounts receivable 10% of sale

COST OF SALES ASSUMPTIONS


Raw Material Cost growth rate 5%
Wastage 2%
Packing cost groth rate 3% 2011 2012
Packing Cost (Rs./Bag) 25 25 25.75
Electricity Growth rate 8%
Salaries Growth rate 10%
Repair and Maintenance (as percentage of machinery) 5%
Repair and Maintenace Growth Rate 5%
Depreciation on Plant and Machinery 10%
Depreciation on Land and Building 5%
Depreciation on Furniture and Fixture 10%
Deperciation on Office Equipment 10%
Ending inventory 10%
other munfaturig expenses
erection and installation chages of machinery 10%
Depreciation on Motor Vehicle (Straight Line method) 20%
Operating Assumptions
Telephone and Telex (per month) Rs. 3,000 ) 4500
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Administrative Expense growth rate 10% 10%


Printing and Stationery (per month) Rs. 2,000 2,500
Legal & professional charges (annual) Rs. 10,000 10000
Traveling & conveyance (per month) Rs. 5,000 60000
Marketing and Promotional Expenditures Rs. 5,000 80000
Amortization of pre-operating expenses yrs. 5 15%
Tax rate 35% 35%
Account payable 10% of rawmaterial
Dividend of profit 40%
retained earning 60%
Accured Expense 5% of sale
Account Receiveable 10% of sale
Assumption of Revenue
Sale price per kg kg RS 20
Sale price per bag(37 kg) 700
Means of Finance
Debt 60% 42,000,000
Equity 40% 28,000,000
70,000,000

Initial working capital


Current Assets RS
Cash 8000000
Account
Recivable 13,776,363
Raw material
inventoru 3000000
Advances and
Deposits 3993759
28,770,1
Total 22

Current
liabilities
Account Payable 2000000
Notes Payable 3000000
Total 5000000

Intial Working 23,770,1


Capital 22

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Cost of the project


Cost of The project local Foreign Total
Land and it
divelopment 13110000 13110000
Building and civil
worker 12850000 12850000
local Machinery 820000 820000
Foreign Machinery 940000 940000
Marine insurance,imoprt lience fee 3% 28200 28200
Clearance and
internal fees l frieght 20% 188000 188000
Import and Ipra
Surcharge 1% 9400 9400
Furniture and Fixture 226000 226000
Vehicles 12220000 12220000
Pre-production
Expense 324000 324000
Engineering and
Technical Fee 150000 150000
Office Equipment 103500 103500
Others contigenies 1273709 1273709
Intrest During 3,811,
Construction 068 3,811,068
176,
Errection and instalation 000 176000

Total fixed Cost 46,229,877


intial working capital 23,770,122
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Total cost of the


project 70,000,000

Income statement
60% 70% 80%
For the year ended 2011 2012 2013
174,500, 201,134,
sales 137,763,632 601 903
82,109,
Cost of Sales 813 90,724,066 100,086,974
Gross Profit 55,653,820 83,776,535 101,047,929
Operating Expense
a)Admenisrative&General expenses 4394000 4715600 5122312
b)selling expenses 1290000 1419000 1560900
Total operating expense 5684000 6134600 6683212
Operating Profit 49,969,820 77,641,935 94,364,717
Non operating expense
7,560, 6,064, 4,536,
Financial Expense 000 570 000
2,498, 3,882, 4,718,
Worker particaption fund 491 097 236
999, 1,552, 1,887,
Worker welfare fund 396 839 294
Amortization 48600 48600 48600
Total non operating 11,106, 11,548, 11,190,
expense 487 105 130
38,863,33 66,093,82 83,174,
Profit Before taxation 2 9 587
Income 13,602,16 23,132,84 29,111,
tax 6 0 105
25,261,16 42,960,98 54,063,
Net Profit after tax 6 9 482
10,104,46 17,184,39 21,625,
Dividend 6 6 393
15,156,70 25,776,59 32,438,
Retained earnings 0 3 089

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Balance sheet
As on 2010 2011 2012 2013
Rs. Rs. Rs. Rs.
Assets

Current Assets
23 63,218,2 47,911,8
Cash balance ,770,122 4,787,438 29 41
Account recievble 13776363 20113490
22,348,3
ending inventory 15,307,070 23
Advances deposits &
other
short term investment 0
Cash &bank balance
23,770,12 63,218,2 90,373,6
Total current Assets 2 33,870,872 29 54
Fixed Assets
45,905,87 42,610,4 39,314,9
Fixed assets 7 45,905,877 27 77
3,295,45 3,295,4
Less:Acc. Dep. - 3,295,450 0 50
45,905,87 39,314,9 36,019,5
Net Fixed Assets 7 42,610,427 77 27
275,40 226,80
Pre-Production Exp. 324,000 324,000 0 0
Less Amortized - 48600 48600 48600
226,80 178,20
Net Pre-Production Exp. 324,000 275,400 0 0
Sub total
70,000,00 102,760,0 126,571,3
Total Assets 0 76,756,699 06 82
Liabilities and owner's
equity
Current liabilities
226,713.
Account payables 20
current maturity of L.T. 8,400,00 8,400,0
loan 0 0 00
Notes payable
intrest payable
Accrude expense
worker paticaption fund
Worker welfare fund

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tax payable
Total Current liablities 0 0 8626713 8400000
Long Term
Liabilities
42,000, 25,200,0 16,800,0
MCB 000 33,600,000 00 00
42,000, 25,200,0 16,800,0
Sub Total 000 33,600,000 00 00
42 33,826,7 25,200,0
Total liabilities ,000,000 33,600,000 13 00
Owner's equity
Capital & reserves:
28,000, 28,000,0 28,000,0
Capital 000 28,000,000 00 00
40,933,2 73,371,3
Retained earning 15,156,700 93 82
28,000, 68,933,2 101,371,3
Sub Total 000 43,156,699 93 82
70,000, 102,760,0 126,571,3
Total Liabilities & Equity 000 76,756,699 06 82

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Cash flow statement

For the Year


Ended 2010 2011 2012 2013
Rs. Rs. Rs, Rs.
Sources
Net profit before tax 38,863,332 66,093,829 83,174,587
Add:Dep. & Amort. 3344050 3344050 3344050
Equity 28,000,000
Other Sources
Long Term Loans 42,000,000
increase in Current
liabilities - 8,626,713 (226,713)
Decrease in
Current assets 29083434
Total 70,000,000 42,207,382 107148026.2 86291923.83
Uses
Fixed Asset 45,905,877
Pre-Production
Exp. 324,000
Long Term Loans

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Re-Payment of:.
Amounnt of loan
paid 8,400,000 8,400,000 8,400,000
Financial charges
Workers
particaption fund
Workers welfare
fund
Tax Paid 13,602,166 23,132,840 29,111,105
Profit Distribute 0 10,104,466 17,184,396 21,625,393
Dec in liability - -
Inc in Current asset 0 29083434 - 42461813

Total 46,229,877 61,190,066 48,717,236 101,598,311


Net Cash Inflow/ 23,
(Outflow) 770,122 (18,982,684) 58,430,790 (15,306,387)
Balance Opening 0 23,770,122 4,787,438 63,218,229
Balance Closing 23,770,122 4,787,438 63,218,229 47,911,841

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