Feasibility Report & Project Profile

On

Haroon Agro Farm.

Project Site
Village: Panihata, Awliyabad, Madhabpur,
Hobiganj.Shylet.
Office Address:
AK Plaza-(4th floor)
House# 1,Road#1b,Sector# 9
Uttara,Dhaka-1230
Website: www.haroonagrofarm.com

Prepared By
S.M Mahabub Alam Rajib
BBA,MBA-(FIN),ITP,LLB(1st part),CMA(Partly Qualified),FSIP(BIM)
CEO & Lead Consultant.
Prophecy Consultancy & Research Firm.
E-Mail: prophecy.bd1@gmail.com
Mobile: 0168-3132349

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Contents
ABOUT PROPRIETOR ........................................................................................................................................ 3

CHAPTER – 01 .................................................................................................................................................. 4

PROJECT SUMMARY ........................................................................................................................................ 4

1.1 NAME OF THE PROJECT:...................................................................................................................................... 4

1.2 LOCATION OF THE PROJECT:................................................................................................................................. 4
1.3 PROJECT BRIEF: ......................................................................................................................................... 4

1.4 COST OF PROJECT:...................................................................................................................................... 5

14.2 Working Capital Financing ..................................................................................................................... 6

Operational Performance: ............................................................................................................................. 6
Financial Performance: .................................................................................................................................. 6

CHAPTER-02 ..................................................................................................................................................... 7

ORGANIZATION & MANAGEMENT ASPECTS .................................................................................................... 7

2.1 MANAGEMENT AND ORGANIZATION: .................................................................................................................... 7

2.2 NAME & ADDRESS OF THE PROPRIETOR: ................................................................................................................ 7
2.3 ORGANIZATION STRUCTURE:................................................................................................................................ 8

CHAPTER-03 ..................................................................................................................................................... 9

TECHNICAL ASPECTS ........................................................................................................................................ 9

3.1 PROJECT DESCRIPTION: .............................................................................................................................. 9

3.1.1 BACKGROUND:............................................................................................................................................... 9
3.1.2 PROJECT PURPOSE AND DESIGN: ....................................................................................................................... 9
3.1.3 PRODUCTION PROGRAM: ............................................................................................................................... 10
3.1.4 PRODUCT MIX AND PRODUCTION CAPACITY:....................................................................................................... 10
3.2 PROJECT COST ESTIMATION ............................................................................................................................... 12
3.4.2 MANPOWER REQUIREMENT & COMPENSATION: ................................................................................................ 13

CHAPTER: 04 .................................................................................................................................................. 15

MARKETING ASPECTS .................................................................................................................................... 15

CHAPTER-5 ..................................................................................................................................................... 17

5.1 RATIONALE OF ECONOMIC ANALYSIS: ..................................................................................................... 17

5.2 EMPLOYMENT GENERATION: .................................................................................................................. 17
5.3 DOWNSTREAM AND LINKAGE EFFECT: .................................................................................................... 17
5.4 CONTRIBUTION TO GDP: .......................................................................................................................... 18

CHAPTER-6 ENVIRONMENTAL ASPECTS ...................................................................................................... 19

6.1 BACKGROUND: .......................................................................................................................................... 19

CHAPTER-7 ..................................................................................................................................................... 20

FINANCIAL ASPECTS ..................................................................................................................................... 20

7.1 ASSUMPTION FOR FINANCIAL ANALYSIS: ................................................................................................. 20

7.2 TOTAL COST OF THE PROJECT ................................................................................................................ 21

INVESTING PLANNING.................................................................................................................................. 21

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 7.4 Financial Decision Points ........................................................................................................................ 22
7.5 PROJECTED BALANCE SHEET: ...................................................................................................................... 22
7.6 SENSITIVITY ANALYSIS: ............................................................................................................................... 22
7.7 FINANCIAL FORECAST & POSITION....................................................................................................................... 22

CONCLUSION: ................................................................................................................................................ 22

ANNEXUURE .................................................................................................................................................. 23

ANNEXURE A-1 .................................................................................................................................................... 23

ANNEXURE A-2 .................................................................................................................................................... 24
7.2 FIXED COST OF THE PROJECT: ................................................................................................................ 24
ANNEXURE A-2-1 ................................................................................................................................................. 25
Details of Land & Land Development ........................................................................................................... 25
ANNEXURE A-2-2 ................................................................................................................................................. 26
Cost of Building and other Civil Works ......................................................................................................... 26
ANNEXURE A-2-3 ................................................................................................................................................. 27
ANNEXURE A-2-4 ................................................................................................................................................. 28
Furniture & Fixture ....................................................................................................................................... 28
ANNEXURE A-2-5 ................................................................................................................................................. 29
DETAILS OF TRANSPORTNEHICLES ............................................................................................................... 29
ANNEXURE A-2-6 ................................................................................................................................................. 30
DETAILS OF PRELIMINARY EXPENSES ........................................................................................................... 30
ANNEXURE A-2-7 ................................................................................................................................................. 31
Security Deposit for Utility connections ....................................................................................................... 31
ANNEXURE A-3 .................................................................................................................................................... 32
Working Capital ........................................................................................................................................... 32
ANNEXURE A-4 .................................................................................................................................................... 33
PROJECTED INCOME STATEMENT ................................................................................................................ 33
ANNEXURE A-5 .................................................................................................................................................... 35
ANNEXURE A-5-1 ................................................................................................................................................. 36
Sales Estimation ........................................................................................................................................... 36
ANNEXURE A-5-2 ................................................................................................................................................. 37
Annual Wage & Salary increment & Festival Bonus of Technical Staff Worker ........................................... 37
ANNEXURE A-5-4 ................................................................................................................................................. 39
DEPRECIATION ALLOCATION .................................................................................................................................... 39
ANNEXURE A-5-5 ................................................................................................................................................. 40
Financial Expenses ....................................................................................................................................... 40
ANNEXURE A-6 .................................................................................................................................................... 41
List of Administrative & Marketing Staff ..................................................................................................... 41
ANNEXURE A-7 .................................................................................................................................................... 42
ANNEXURE A-8 .................................................................................................................................................... 43
PROJECTED BALANCE SHEET ........................................................................................................................ 43
ANNEXURE A-9 .................................................................................................................................................... 44
ANNEXURE A-10 .................................................................................................................................................. 45
Financial Decision Points .............................................................................................................................. 45
ANNEXURE A-11-1 ............................................................................................................................................... 46
SANSITYVITY ANALYSIS AT 5% INCREASE OF COGS ...................................................................................... 46
ANNEXURE A-12-2 ............................................................................................................................................... 47

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 About Proprietor

Mr. Md. Saifur Rahman is a Leading Businessman in Bangladesh. He is Proprietor of Haroon

Agro Firm. He Has Strong Educational background. Mr. Md. Saifur Rahman keeps success in
his business. He has completed B.A from Abu Zar gifary College in 1992.

His other Business.

1. Haroon Steel Enterprise(Proprietor)- Hobiganj from 2013

2. Uttara City College (Director)- Uttara, Dhaka from 2010
3. Hair to foot Men’s Parlour , Uttara from 2013
4. Voter Adda. Uttara ,

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 Chapter – 01
Project Summary
1.1 Name of the Project:
The project has been registered in the name and style Haroon Agro Farm.

1.2 Location of the Project:

Panihata, Awliyabad, Madhabpur, Hobiganj
Bangladesh.

1.3 Project Brief:

Background: Haroon Agro Farm. The proposal create a new Agro business at
Panihata,Montala, on a 400 Decimal owned premises. The total area of Building is about
1,95,884 Sft. .The project will produce milk for local market with a dairy farm of 50
milking cow and 40 fattening cow process dairy milk and prepare packed Pasteurized
milk and ghee. The demand for milk & meat is increasing day by day. But local
supply of milk & meat is not sufficient to meet the demand. As such to fulfill the
demand for milk & meat, it is essential to encourage increase in local production of
milk & meat in the country.

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1.4 Cost of Project:
Cost to be
Cost to be
Cost incurred
Sl No. PARTICULARS incured local Total
Incurred Foreign
currency
currency

Land & Land

1 -
Development 49,200,950 - 49,200,950

Cow Sheet -
2 - 5,426,850 5,426,850

Machinery & Tools

3 - - 248,780 248,780
Furniture & Fixture -
4 - 1,188,000 1,188,000
Transport/ Vehicle -
5 - 1,400,000 1,400,000
Cow-(50 nos Milking &
6 40 nos Fattening 11,000,000 11,000,000

Feed Mill
7 2,500,000 2,500,000
Preliminary Expenses -
8 250,000 250,000 500,000
Security Deposit -
9 - 150,000 150,000
Working Capital
10 8,360,410 8,360,410
FIXED COST OF THE
49,450,950 - 30,524,040 79,974,990
PROJECT

11 IDCP 1,833,000
1,833,000
Total cost including
-
IDCP 49,450,950 32,357,040 81,807,990

Fixed Cost Financing

To be Total
SI No Particulars Incurred Remarks
incurred Amount

Directors' equity - 24,542,397 24,542,397 30%

1
Bank Finance* - 57,265,593 57,265,593 70%
2
Total of Equity &
49,450,950 81,807,990 81,807,990 100%
Loan

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14.2 Working Capital Financing

SI No Particulars Percentage Amount (Tk.)

1 Directors' equity 30% 2,508,123
2 Bank Finance 70% 5,852,287
Total 100% 8,360,410

Operational Performance:
PARTICULARS Yr-1 Yr-2 Yr-3 Yr-4 Yr-5
Capacity
100% 100% 100% 100% 100%
utilization
Sales revenue 22,940,000 35,843,750 44,804,688 56,005,859
28,675,000
Gross profit 14,700,064 24,751,564 32,084,576 41,507,125
19,072,432
Operating Profit 13,052,313 22,819,704 29,979,307 39,193,965
17,290,981
Net profit after
7,975,162 18,233,649 25,516,397 34,726,847
taxes 12,491,269

Financial Performance:
i. Gross profit to
64.08% 66.51% 69.05% 71.61% 74.11%
sales %
ii. Operating
56.90% 60.30% 63.66% 66.91% 69.98%
profit to sales %
iii. Net profit to
34.77% 43.56% 50.87% 56.95% 62.01%
sales %

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 Chapter-02
Organization & Management Aspects
2.1 Management and Organization:
It’s the proprietorship business so everything control by owner.

2.2 Name & Address of the Proprietor:

Name Address Status Share %

Md. Saifur Rahman House#01,Road#7/c, Proprietor 100%

Section#7,Uttara, Dhaka-
Father’s Name: saidur Rahman
1230
Mother’s Name:Mrs.Hamida Rahman

Date of Birth: 23 June 1971

NID-3617125049592

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2.3 Organization Structure:
The Firm will follow a multi-layer organization structure headed by the proprietor and
divided into several functional activities. The brief organ gram is shown in the following
diagram.

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 Chapter-03
Technical Aspects

3.1 PROJECT DESCRIPTION:

3.1.1 Background:
The proposal is for setting up of a Agro industry unit under the name and style of Haroon Agro
Farm.

3.1.2 Project Purpose and Design:

The proposal create a new Agro business at Panihata,, Montala, on a 400 Decimal owned
premises. The total area of Building is about 1,95,884 Sft.. The project will produce milk for
local market with a dairy farm of 40 milking cow and 40 fattening cow process dairy
milk and prepare packed Pasteurized milk and ghee. The demand for milk & meat is
increasing day by day. But local supply of milk & meat is not sufficient to meet the
demand. As such to fulfill the demand for milk & meat, it is essential to encourage
increase in local production of milk & meat in the country.

Although, dairying is the most ancient occupation established in the rural setting of
Bangladesh, its development is unsatisfactory due to several problems. The main
problems concern breeding, feeding, management, diseases and marketing. The dairy
sector has also not received adequate attention in respect of information and research
with present policies and issues. National milk production can only meet 13% of the
current milk consumption. The demand for milk is growing at a faster rate than
supply because of the rapid increase in population, creating a widening imbalance
between demand and supply. There is a need to have knowledge of the existing
demand, its growth over time, and the existing supply possibilities. There are also
many types of information needed for proper functioning of markets. In the light of
such knowledge it would be necessary to take policy measures for providing strong
institutional support to increase domestic production and reduce the imbalance
between supply and demand. To address the industry’s problems effectively, sources
of market failures and of government policies in contributing to its poor performance
are discussed in this paper.

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3.1.3 Production Program:

The project has been designed with the target of local market. The production program has
been designed with an optimum production capacity from the view point of financial, marketing,
management and technical aspects.

3.1.4 Product mix and production capacity:

Adequate and appropriate facilities will be provided for turning out high quality footwear & Leather Industry.
Based on 1 shifts operation of 8 hours each per day and 320 working days in a year, the product mix and
production capacity of the unit is given below:

Estimate of Production & Sales for Expansion

Project

Total Sales Total Sales

Rate per
Particulars No.of Cow yearly
Cow Proceed in Proceed in

Fattening Cow 150,000.0

40.00 1.00 6,000,000.00 6,000,000.00
0

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 - -
Milk ltr. Per Rate per Total Sales Total Sales
Particulars No. of Days
Day Ltr. Proceed in Proceed in

Dairy Cow (20 ltr

*avg 30 cow give 13,140,000.0 13,140,000.0
600.00 365.00 60.00
milk/year) 0 0

Total 19,140,000.0 19,140,000.0

0 0

Fish farming in Bangladesh is playing an important role to the total national income of this
country. Bangladesh is a south Asian country and there are hardly any areas in the country
where river or any other water source is not available. In a word, Bangladesh is surrounded
by rivers and various types of water sources like pond, stream, lake etc. And a major part of
the total population of this country are directly or indirectly involved with fish or fish related
business. Especially, most of the people of southern area of Bangladesh are directly engaged
with commercial fish farming or fish farming related business. Khulna, Barisal, Bagerhat,
Satkhira etc. are considered as the best place for commercial fish farming in Bangladesh.

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However, I am describing the main benefits of fish farming in Bangladesh and the starting
process.

Benefits of Fish Farming in Bangladesh

The economy of Bangladesh is mostly dependent on agriculture and agriculture related
business. And fish farming has a great contribution. The main benefits of starting fish
farming in Bangladesh are listed here.
 The climate and environment of Bangladesh is very suitable for fish farming.
 Various types of fish species are available which are very effective for profitable fish
farming business.
 Easy source of water and necessary elements.
 Low cost labor and other management costs are also minimum.
 Suitable market for selling the products. Fish has a great demand to the people of
Bangladesh. So, you don’t have to think about marketing the products.
 You can start fish farming business in both small and large scale production type.

3.2 Project Cost Estimation

The estimation of the project cost has been made under the heads of the following cost items:

1. Cost of machinery and equipment including installation

2. Cost of transports/vehicles

3. Cost of furniture, fixture and office equipment

4. Security deposits

5. Preliminary expenses

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3.4.2 Manpower Requirement & Compensation:
To carry out the normal operational functions of the project, the following personnel will
require being employed/deployed.

SI. Category Number

01 Technical & Direct Labor 20
02 Managerial / Administrative 8
Total 28

“Dairy Industry in Bangladesh: Problems and Prospects” The economy of Bangladesh is

based primarily on agriculture, and livestock is an essential component of the rural economy
and the livelihood of the subsistence farmers. The country has a sub-tropical monsoon
climate and 84.4% of its population is living in rural areas. The demand for milk and milk
products is increasing because of the rapid increase in population, the spread of education and
growing nutrition awareness. National milk production can only meet 13% (approx.) of the
current milk consumption. In addition, Bangladesh has a suitable environment for cattle.
Therefore, the need for developing the dairy industry, especially, in the rural areas, has been
recognized. Although, dairying is the most ancient occupation established in the rural setting
of Bangladesh, its development is not satisfactory due to a number of problems. These
concern information, breeding, feeding, management, diseases and marketing. To address the
industry’s problems effectively, it will be helpful to have an assessment of the role of market

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failures and of government policies in contributing to its poor performance. Providing small
on assessment of market failures and government policies is the main aim in this paper. An
attempt is also made to build on this assessment to consider the ways in which government
could assist in improving the operation of markets and of policy for developing the dairy
industry.

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 Chapter: 04
Marketing Aspects

A central problem of market theory is that it presumes buyers, sellers and producers have
perfect information. There are many types of information needed for proper functioning of
markets. Buyers and producers require different types of knowledge about goods. Buyers
need to know what the good will do for them, but producers need to know how it is made.
Production technology must be known to potential producers, and the characteristics or
qualities of available goods must be known to potential buyers. This knowledge allows
market production and trade to be efficient.

Haroon agro firm has good local market in Bangladesh.

Pran Factory :60%

Local Market :30%

Household :10%

Traditional milk trader model

Milk Production Capacity of Haroon Agro Firm is 1,92,000 ltr/year.

Milk processing capacity.

Smallholder
Dairy (establishment year) Average milk collection (litres/day)
milk suppliers
1. Milk Vita (1973) 200 000 150 000
2. Amomilk (1996) 10 000 5 000
3. Tulip Dairy(1998) 3 000 2 000

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4 Arong–BRAC Dairy (1998) 80 000 70 000
5. Bikrampur Dairy (1998) 10 000 6 000
6. Ultra–Shelaidah Dairy (1998) 10 000 4 000
7. Aftab (1998) 8 000 4 000
8. Pran (2001) 40 000 30 000
9. Grameen–CLDDP (1999) 7 000 6 000
10. Rangpur Dairy (2007) 8 000 7 000
11. Akij Group (2007) 4 000 500
12. Grameen Danone (2007) 1 000 From CLDDP
13. Savar Dairy (1974) 3 000 From own farm
14. Army Self-consumption From own farm
Total 384 000 284 500
Source: Khan.

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 Chapter-5
SOCIO-ECONOMIC ASPECTS

5.1 RATIONALE OF ECONOMIC ANALYSIS:

The financial or commercial profitability of a project may not give a good measure of the
project's contribution to the society or to the national economy. In financial or commercial
analysis, emphasis is given only to assessing the project's profit in terms of money but not to the
real contribution to the welfare of the society. To measure a project's contribution to the society
as well as national economy the following aspects should be taken into consideration.

 Creation of new employment opportunity;

 Change lifestyle of surrounding people;

 Downstream impact on the economy;

 Linkage effects; and

 Contribution to GDP.

5.2 EMPLOYMENT GENERATION:

After starting up the expansion project, 20 additional permanent employees will be required to run
the project successfully Moreover, during the 6 months installation period, fifteen of labors,
technical persons will be required for successful implementation of the proposed project
which will create an additional positive impact on the peripheral economy and the job market of
the project area.

5.3 DOWNSTREAM AND LINKAGE EFFECT:

During and after implementation of the project, enormous effect will be happened on the
surrounding society and economy. Huge local procurements for the project
implementation will have a positive impact on the overall economy. After
implementation that is during the entire operation life of the project the labors and the technicians
continuously will need to buy consumable products from the local markets for use. To feed the
need of the market, numbers of new farms/shops will be coming up creating additional job
opportunity, enterprises as well as new entrepreneurs in the surroundings.

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5.4 CONTRIBUTION TO GDP:
In assessing the merits of a project, the objectives of any particular society clearly must be
taken into account. That is, project costs and benefits must be measured against the
extent to which they detract from, or contribute to, the achievement of that society's
objectives. At general level, it is assumed to have to primary and simultaneous-if not
always equally valued-objectives; to increase total national income, the growth
objectives. In general, therefore, projects should be assessed in relation to their net
contribution to both of these objectives.

As this project is not national level a project, only direct contribution of the project to
GDP is considered for assessing the economic merit of the project.

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 Chapter-6
ENVIRONMENTAL ASPECTS
6.1 BACKGROUND:
The economy of Bangladesh is based primarily on agriculture, and livestock is an essential
component of the rural economy and the livelihood of the subsistence farmers. The country
has a sub-tropical monsoon climate and 84.4% of its population is living in rural areas. The
demand for milk and milk products is increasing because of the rapid increase in population,
the spread of education and growing nutrition awareness. National milk production can only
meet 13% (approx.) of the current milk consumption. In addition, Bangladesh has a suitable
environment for cattle. Therefore, the need for developing the dairy industry, especially, in
the rural areas, has been recognized. Although, dairying is the most ancient occupation
established in the rural setting of Bangladesh, its development is not satisfactory due to a
number of problems. These concern information, breeding, feeding, management, diseases
and marketing. To address the industry’s problems effectively, it will be helpful to have an
assessment of the role of market failures and of government policies in contributing to its
poor performance. Providing small on assessment of market failures and government policies
is the main aim in this paper. An attempt is also made to build on this assessment to consider
the ways in which government could assist in improving the operation of markets and of
policy for developing the dairy industry. The plan of the rest of the paper is as follows. In the
next section, background information is given on the Bangladesh economy and the present
status and potential for developing the dairy industry is outlined. In the subsequent section, an
attempt is made to identify the sources of market failures and government failures in dairy
production and marketing.

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 Chapter-7
FINANCIAL ASPECTS

7.1 Assumption for Financial Analysis:

The assumptions underlying the earning forecast are as follows:

a) The project will operate for 365 days in a year on three shifts operation basis
of 8 hours each per day;

b) The capacity build-up has been assumed to be achieved gradually at the rate
of 70%, 75% 80%, 85%, and 90% in the 1st, 2nd, 3rd, 4th and 5th years and
remaining years of operation ;

c) Price of raw materials and finished goods have been assumed to remain constant
throughout the projected years of operation with the assumption that any increase in
the price of raw materials will be off set by the corresponding increase in the price of
finished goods ;

d) Sales prices of the proposed products have been assumed on the basis of
Market Experience price of such product ;

e) Stock of work-in-process has not been considered ;

f) Stock of finished goods has not been estimated ;

g) Annual increment of 8% has been considered for calculation of wages and

salaries and bonus of two months basic pay also been provided ;

h) Depreciation has been charged on straight line methods at the following rates :

 Machinery - 15%
 Furniture & Office Equipment - 10%
 Other assets - 15%

)i Economic life of the project has been assumed to be 10 (ten) years

Without any major replacement.

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7.2 TOTAL COST OF THE PROJECT

Cost to be
Cost to be
Cost incurred
Sl No. PARTICULARS incured local Total
Incurred Foreign
currency
currency

Land & Land

1 -
Development 49,200,950 - 49,200,950

Cow Sheet -
2 - 5,426,850 5,426,850

Machinery & Tools

3 - - 248,780 248,780
Furniture & Fixture -
4 - 1,188,000 1,188,000
Transport/ Vehicle -
5 - 1,400,000 1,400,000
Cow-(50 nos Milking &
6 40 nos Fattening 11,000,000 11,000,000

Feed Mill
7 2,500,000 2,500,000
Preliminary Expenses -
8 250,000 250,000 500,000
Security Deposit -
9 - 150,000 150,000
Working Capital
10 8,360,410 8,360,410
FIXED COST OF THE
49,450,950 - 30,524,040 79,974,990
PROJECT

11 IDCP 1,833,000
1,833,000
Total cost including
-
IDCP 49,450,950 32,357,040 81,807,990

INVESTING PLANNING
Cost to be
SI No Description Cost incurred Total %
incurred
Fixed Cost of
1 22,163,630 71,614,580 90%
Project 49,450,950.00
2 Working Capital - 8,360,410 8,360,410 10%
Total cost of
49,450,950.00 30,524,040 79,974,990 100%
the project
IDCP - 1,833,000 1,833,000
Total cost
49,450,950.00 32,357,040 81,807,990
including IDCP

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7.4 Financial Decision Points
3.784
1) Payback Period Years.
4.365
2) Discounted Payback Period Years
18.35%
3) Internal Rate of Return(IRR)
1.22
4) Profitability Index (PI)

7.5 PROJECTED BALANCE SHEET:

The projected balance sheet of the company is shown in Annexure. The concern is expected
to maintain a healthy financial position during the operational life.

7.6 SENSITIVITY ANALYSIS:

The critical variables to which the financial viability of the project is sensitive have been
identified to be cost of production and selling price of output. Necessary sensitivity have been
made and the project withstands the tests considering 5% increase and decrease of cost of
goods sold and shown in Annexure.

7.7 Financial Forecast & position

Financial forecast and position are shown in Annexure-A-1 to Annexure-A-15 in details.

CONCLUSION:
The detail financial forecast shows that the project is a viable one considering all
aspects. The sponsors are well educated and highly experienced in various leading
national and international trade and business.

All the Directors are financially sound and have the real capacity to controlling aspects and
efficiency in management. The demand of the products is very high in the local market.
The production cost will be at a minimum in comparison with the other exporting
countries in the same product. Therefore, from this we can come to a conclusion that
the project has potentials for the implementation and thus make contribution to the
ultimate development of the country.

_____________
Mr. Saifur Rahman
Proprietor
Haroon Agro Farm.
Note: (The Management is assisted for feasibility study and project profile by S.M Mahabub
Alam)

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 ANNEXUURE

Annexure A-1
Cost to be
Cost to be
Cost incurred
Sl No. PARTICULARS incured local Total
Incurred Foreign
currency
currency

Land & Land

1 -
Development 49,200,950 - 49,200,950

Cow Sheet -
2 - 5,426,850 5,426,850

Machinery & Tools

3 - - 248,780 248,780
Furniture & Fixture -
4 - 1,188,000 1,188,000
Transport/ Vehicle -
5 - 1,400,000 1,400,000
Cow-(50 nos Milking &
6 40 nos Fattening 11,000,000 11,000,000

Feed Mill
7 2,500,000 2,500,000
Preliminary Expenses -
8 250,000 250,000 500,000
Security Deposit -
9 - 150,000 150,000
Working Capital
10 8,360,410 8,360,410
FIXED COST OF THE
49,450,950 - 30,524,040 79,974,990
PROJECT

11 IDCP 1,833,000
1,833,000
Total cost including
-
IDCP 49,450,950 32,357,040 81,807,990

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 Annexure A-2

7.2 FIXED COST OF THE PROJECT:

Cost to be
SI No Description Cost incurred Total
incurred
Land & Land
1 49,200,950.00 - 49,200,950
Development
Building & Civil
2 - 5,426,850 5,426,850
construction

3 Machinery & Equipment - 248,780 248,780

Cow-(50 nos Milking &

4 11,000,000 11,000,000
40 nos Fattening
5 Feed Mill 2,500,000 2,500,000
6 Furniture & Fixture - 1,188,000 1,188,000
7 Transport/ Vehicle - 1,400,000 1,400,000

8 Preliminary Expenses 250,000.00 250000 500,000

9 Security Deposit - 150000 150,000

Total Fixed Cost 22,163,630 71,614,580

49,450,950.00

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 Annexure A-2-1

Details of Land & Land Development

A Land for Site office & Plant Unit/ Price Tk. In'000'
Land area (Katha) 242.43
Land area (Decimal) 400
Market price per decimal 100,000
Land Value 40,000,950 40,000,950
Registration/ Documentation Cost
(included)
Total Land Value 40,000,950
B Land Development:
(in decimal)
Area (in sft.)
Height (Feet)
Cost per cubic feet (Taka)

Total Development Cost (included) 9,200,000

C Land & Land Development 49,200,950

25 | P a g e
 Annexure A-2-2

Cost of Building and other Civil Works

Item of Construction Covered Area
SI. No. Unit Unit Price Total Cost
with specific SFT.

1 Building for 80 Cow 4 3,600 800 2,880,000

1
Stanchion Burn 65
2
Cow 2,925 112 327,600
1
Baby Culf Sheet for
3
100 calves. 1 3,000 400 1,200,000
Maternity Sheet for 5
4
Cow 1 184 750 138,000
5 Isolation Box
1 240 550 132,000
Feed Storage and
6 1
mixing room 345 650 224,250
7 office room
750 700 525,000

GRAND TOTAL Sft

11,044 5,426,850

26 | P a g e
 Annexure A-2-3

Particulars
Machinery & Tools for Milking 248,780
-

Grand Total 248,780

27 | P a g e
 Annexure A-2-4

Furniture & Fixture

SI Description Rate/Price Qty/No. Amount in Tk.

To be procured

Decoration of
100,000.00 1.00 100,000.00
1 executive Rooms

Executive Table 20,000.00 2.00 40,000.00

2

Executive Chair 8,000.00 2.00 16,000.00

3

Sofa 50,000.00 1.00 50,000.00

4

Cabinet 25,000.00 1.00 25,000.00

5

Almeria 20,000.00 1.00 20,000.00

6

Computer with
60,000.00 1.00 60,000.00
7 printer

Mobile 5,000.00 1.00 5,000.00

8

Fan 2,500.00 40.00 100,000.00

9

Calculator 1,000.00 2.00 2,000.00

10

Others 10,000.00 2.00 20,000.00

11

Kromel Milk
450,000.00 1.00 450,000.00
12 Cooling Tank.

Generator 300,000.00 1.00 300,000.00

13

Total 1,188,000.00

28 | P a g e
 Annexure A-2-5

DETAILS OF TRANSPORTNEHICLES

SI Description Rate/Price Qty/No. Amount in Tk.

Micro Bus for

1 1 1,400,000.00
Office Use 1,400,000.00

Total - 1,400,000.00

29 | P a g e
 Annexure A-2-6

DETAILS OF PRELIMINARY EXPENSES

Amount In Tk.
SI Description Amount

1 Consultants fee - -

2 Legal charges 10,000

10,000

Documentations
3 50,000
Charges 50,000

4 Company formation - -

Feasibility Study / PP
5 100,000
Fees 100,000

6 Trade License 10,000

10,000

7 Design 100,000
100,000

Others permissions &

10 100,000
Registration 100,000

11 Survey & Inspection 50,000

50,000

420,000

Pre-operating office
12 200,000
expenses 200,000

Pre-operating salary
13 50,000
expenses 50,000

Total 250,000

Grand Total 670,000

30 | P a g e
 Annexure A-2-7
Security Deposit for Utility connections
SI No. Items Amount Amount

Security deposit
1 50,000 50,000
for Power

Security Deposit
3 50,000 50,000
for TNT

Security Deposit
4 50,000 50,000
for Fire insurance

Total 150,000 150,000

31 | P a g e
 Annexure A-3

Working Capital
Particulars Tied-up Yr-1 Yr-2 Yr-3
Capacity utilization 100% 100% 100%

1. INVENTORIES
Raw materials 90 days 2,463,750 2,710,125 2,981,138
Work in Process 0 0 0
Finished Goods Stock 0 0 0
Stores & spares 90 days 4497 6745 8993
Sub-Total 2,468,247 2,716,870 2,990,131

1. EXPENSES
90
Wages & salaries 6482400 7000992 7561071.36
days
Admin & Selling Expenses 90 days 449,387 485,850 526,871
Reparis & Maintenance 90 days 19297 28946 38594
Tax & Insurance 1year 0 0 0
Utility 30 days 11455 12545 14182
Sub-Total 6,962,538 7,528,333 8,140,718

1. Accounts Receivable 30 days 1,147,000 1,433,750 1,792,188

Gross Working Capital Required 10,577,785 11,678,953 12,923,037

1. Less: Accounts Payable (90%) 90 days 2,217,375 2,439,113 2,683,024

Net Working Capital Required 8,360,410 9,239,841 10,240,013

Owners Equity 30% 2,508,123 2,771,952 3,072,004

Bank's Finance 70% 5,852,287 6,467,889 7,168,009

32 | P a g e
 Annexure A-4
PROJECTED INCOME STATEMENT

PARTICULARS Yr-1 Yr-2 Yr-3 Yr-4 Yr-5

Capacity
utilization 100% 100% 100% 100% 100%
Sales revenue
22,940,000 28,675,000 35,843,750 44,804,688 56,005,859
Cost of goods
sold 8,239,936 9,602,568 11,092,186 12,720,111 14,498,735

Gross profit 14,700,064 19,072,432 24,751,564 32,084,576 41,507,125

Admin & selling
expenses 1,647,751 1,781,451 1,931,860 2,105,269 2,313,160

Operating Profit 13,052,313 17,290,981 22,819,704 29,979,307 39,193,965

Financial
expenses 4,191,022 3,411,794 2,560,094 1,627,755 608,580
Net profit
before taxes 8,861,291 13,879,187 20,259,610 28,351,553 38,585,385
Income tax
@10% 886,129 1,387,919 2,025,961 2,835,155 3,858,539
Net profit after
taxes 7,975,162 12,491,269 18,233,649 25,516,397 34,726,847
Retained
earnings 7,975,162 12,491,269 18,233,649 25,516,397 34,726,847
Dividend
proposed @
15% 0 0 0 0 0
Cumulative
retained
earnings 7,975,162 20,466,430 38,700,079 64,216,476 98,943,323

i. Gross profit to sales %

76.00%
74.00%
72.00%
70.00%
68.00%
66.00% i. Gross profit to sales %
64.00%
62.00%
60.00%
58.00%
1 2 3 4 5

33 | P a g e
 ii. Operating profit to sales %
ii. Operating profit to sales %

56.90% 60.30% 63.66% 66.91% 69.98%

1
2
3
4
5

iii. Net profit to sales %

iii. Net profit to sales %

62.01%
56.95%
50.87%
43.56%
34.77%

1 2 3 4 5

34 | P a g e
 Annexure A-5
COST OF GOODS SOLD
PARTICULARS Yr-1 Yr-2 Yr-3 Yr-4 Yr-5
Capacity utilization 100% 100% 100% 100% 100%
Raw materials
8,212,500 9,033,750 9,937,125 10,930,838 12,023,921
Wages & salaries
6,072,000 6,557,760 7,082,381 7,648,971 8,260,889
Stores & spares 16,488 24,732 32,976 41,220 49,463
Repair & maintenance 70,756 106,134 141,513 176,891 212,269
Carriage inward 0 0 0 0 0
Insurance, Rates & Taxes
0 0 0 0 0
Power, fuel & lubricants 126,000 138,000 156,000 180,000 210,000
Depreciation &
Amortization 942,191 942,191 942,191 942,191 942,191
Other production 0 0 0
overhead 0 0
Cost of Production 15,439,936 16,802,568 18,292,186 19,920,111 21,698,735
Add: Opening stock of
WIP 0 0 0 0 0
Total WIP 15,439,936 16,802,568 18,292,186 19,920,111 21,698,735
Less: Closing stock of WIP 7200000 7200000 7200000 7200000 7200000
Total cost of goods 8,239,936 9,602,568 11,092,186 12,720,111 14,498,735
Add: Opening stock of 0
finished goods 0 0 0 0
Total cost of goods
available for proces 8,239,936 9,602,568 11,092,186 12,720,111 14,498,735
0
Less: Closing stock
finished goods 0 0 0 0
Total cost of goods sold 8,239,936 9,602,568 11,092,186 12,720,111 14,498,735

35 | P a g e
 Annexure A-5-1
Sales Estimation

Sales Estimation

Item 1st Year 2nd Year 3rd Year 4th Year 5th Year
Revenue
at Rated
22,940,000.00 28,675,000.00 35,843,750.00 44,804,687.50 56,005,859.38
Capacity
Capacity
100% 100% 100% 100% 100%
Utilisation
Revenue
at Capacity 22,940,000.00 28,675,000.00 35,843,750.00 44,804,687.50 56,005,859.38
% 0.0% 0.0% 0.0% 0.0% 0.0%

Spoilage - - -
- -
Saleable
Volume 22,940,000.00 28,675,000.00 35,843,750.00 44,804,687.50 56,005,859.38
Add:
Opening
Stock of - - -
- -
WIP for 3
day
Total
Revenue 22,940,000.00 28,675,000.00 35,843,750.00 44,804,687.50 56,005,859.38
Less:
Closing
Stock of - - -
- -
WIP for 3
Day
Sales
Revenue 22,940,000.00 28,675,000.00 35,843,750.00 44,804,687.50 56,005,859.38
Add:
Opening
Stock of - - -
- -
FG for 10
days
Sales
Revenue 22,940,000.00 28,675,000.00 35,843,750.00 44,804,687.50 56,005,859.38
Less:
Closing
Stock of - - -
- -
FG for 10
days
Total
Sales
22,940,000.00 28,675,000.00 35,843,750.00 44,804,687.50 56,005,859.38
Revenue
Net Sales
22,940,000.00 28,675,000.00 35,843,750.00 44,804,687.50 56,005,859.38

36 | P a g e
 Annexure A-5-2
Annual Wage & Salary increment & Festival Bonus of Technical Staff Worker

Descript
SI Yr-1 Yr-2 Yr-3 Yr-4 Yr-5
ion

Wages & Salary

1 (8% increase) 2,760,000 2,980,800 3,219,264 3,476,805 3,754,950

Festival Bonus (2
2 Months) 3,312,000 3,576,960 3,863,117 4,172,166 4,505,939

Total
6,072,000 6,557,760 7,082,381 7,648,971 8,260,889

Annual Wage & Salary

Factory Employees No. Amount Total
Factory Manager 1 20,000.00 240,000.00
Assistant Manager 1 15,000.00 180,000.00
Supervisor & Worker 15 12,000.00 2,160,000.00
Security Guard 3 5,000.00 180,000.00
Total 20 52,000.00 2,760,000.00

37 | P a g e
Maintenance Cost
SI Description Cost Yr-1 Yr-2 Yr-3 Yr-4 Yr-5
1 Building 5426850 54269 81403 108537 135671 162806
2 Machinery 248780 2488 3732 4976 6220 7463
3 Vehicle 1400000 14000 21000 28000 35000 42000

Total 70756 106134 141513 176891 212269

Cost Increasing 1.00% 1.50% 2.00% 2.50% 3.0%
Insurance, Rent & Taxes
SI Description Cost Yr-1 Yr-2 Yr-3 Yr-4 Yr-5
1 Land (LS) 41,800,700 0 0 0 0 0
2 Building 5426850 0 0 0 0 0
3 Machinery 248780 0 0 0 0 0
4 Vehicle 1400000 0 0 0 0 0

Total 0 0 0 0 0
Cost Increasing 0.0% 0.0% 0.0% 0.0% 0.0%

SI Description Cost Yr-1 Yr-2 Yr-3 Yr-4 Yr-5

1 Power 48000 50400 55200 62400 72000 84000
2 Fuel & Lubricant 72000 75600 82800 93600 108000 126000

Total 126000 138000 156000 180000 210000

Cost Increasing 5.00% 10.00% 15.00% 20.00% 25.0%

Stores & Spares

SI Description Cost Yr-1 Yr-2 Yr-3 Yr-4 Yr-5

1 Machinery 248780 7463

2,488 3,732 4,976 6,220
2 Vehicle 1400000 42000
14,000 21,000 28,000 35,000

Total 49463
16,488 24,732 32,976 41,220

38 | P a g e
 Annexure A-5-4

Depreciation allocation
Rate
Description Cost Yr-1 Yr-2 Yr-3 Yr-4 Yr-5
SI %
Land 0% - - - - -
32,600,000
1 Cow Sheet 15%
4,675,000 701,250 701,250 701,250 701,250 701,250
Furniture&
2 10%
Fixture 838,000 83,800 83,800 83,800 83,800 83,800
Machinary &
3 15%
tools 248,780 37,317 37,317 37,317 37,317 37,317
4 Vehicale 15%
1,400,000 210,000 210,000 210,000 210,000 210,000
5 Generator 20%
72,560 14,512 14,512 14,512 14,512 14,512
Pumps 20% 4,000 4,000 4,000 4,000 4,000
20,000
Freeze 15%
150,000 22,500 22,500 22,500 22,500 22,500
Total
40,004,340 1,046,879 1,046,879 1,046,879 1,046,879 1,046,879

Allocation of Depreciation
Cost of Goods Sold A/c 90% 942,191.10
Administrative OH A/c 10% 104,687.90
Total 100% 1,046,879

39 | P a g e
 Annexure A-5-5

Financial Expenses

Items Year-1 Year-2 Year-3 Year-4 Year-5

Interest on
Long Term
4,174,354 3,394,529 2,541,550 1,608,557 588,042
Capital

Interest on
W/C Loan 16,668 17,265 18,544 19,198 20,538

Total
4,191,022 3,411,794 2,560,094 1,627,755 608,580

Year wise Repayment

Repayment Year-1 Year-2 Year-3 Year-4 Year-5

Principal
Capital Loan 8,313,093 9,092,919 9,945,897 10,878,891 11,899,406

Interest on
Capital Loan 4,174,354 3,394,529 2,541,550 1,608,557 588,042

Total 12,487,447 12,487,447 12,487,447 12,487,447 12,487,447

40 | P a g e
 Annexure A-6

List of Administrative & Marketing Staff

Monthly Monthly Annual

SI Name of Position Nos
Salary/ Total Salary in
Person Salary
1 Propritor 1 50,000.00 50,000.00 600,000.00

2 Accounts Officer 1 20,000.00 20,000.00 240,000.00

3 Marketing Executive 1 10,000.00 10,000.00 120,000.00

5 Driver 1 15,000.00 15,000.00 180,000.00

6 Madical Officer 1 10,000.00 10,000.00 120,000.00

7 Cleaner 3 3,000.00 9,000.00 108,000.00

Total 8 108,000.00 114,000.00 1,368,000.00

SI Description Yr-1 Yr-2 Yr-3 Yr-4 Yr-5

Annual Salary (8%

1 increase) 1,368,000 1,477,440 1,595,635 1,723,286 1,861,149

Festival Bonus (2
2 Months) 136,800 147,744 159,564 172,329 186,115

Total 1,504,800 1,625,184 1,755,199 1,895,615 2,047,264

41 | P a g e
 Annexure A-7

PROJECTED INCOME STATEMENT

PARTICULARS Yr-1 Yr-2 Yr-3 Yr-4 Yr-5

Capacity
utilization 100% 100% 100% 100% 100%
Sales revenue
22,940,000 28,675,000 35,843,750 44,804,688 56,005,859
Cost of goods
sold 8,239,936 9,602,568 11,092,186 12,720,111 14,498,735

Gross profit 14,700,064 19,072,432 24,751,564 32,084,576 41,507,125

Admin & selling
expenses 1,647,751 1,781,451 1,931,860 2,105,269 2,313,160

Operating Profit 13,052,313 17,290,981 22,819,704 29,979,307 39,193,965

Financial
expenses 4,191,022 3,411,794 2,560,094 1,627,755 608,580
Net profit
before taxes 8,861,291 13,879,187 20,259,610 28,351,553 38,585,385
Income tax
@10% 886,129 1,387,919 2,025,961 2,835,155 3,858,539
Net profit after
taxes 7,975,162 12,491,269 18,233,649 25,516,397 34,726,847
Retained
earnings 7,975,162 12,491,269 18,233,649 25,516,397 34,726,847
Dividend
proposed @
15% 0 0 0 0 0
Cumulative
retained
earnings 7,975,162 20,466,430 38,700,079 64,216,476 98,943,323

42 | P a g e
 Annexure A-8
PROJECTED BALANCE
SHEET

PARTICULARS Yr-0 Yr-1 Yr-2 Yr-3 Yr-4 Yr-5

Property & Assets
Current assets:A
Cash & Bank
418115 3,100,356 7,049,295 15,922,641 31,181,284 54,666,013
balance
Accounts
- 1,147,000 1,433,750 1,792,188 2,240,234 2,800,293
Receivale
Total current 17,714,82
418115 4,247,356 8,483,045 33,421,518 57,466,306
assets 9
Other assets
Security Deposit 150,000 150,000 150,000 150,000 150,000 150,000
Fixed assets 71,464,580 71,464,580 71,464,580 71,464,580 71,464,580 71,464,580
Total Non Current
71,614,580 71,614,580 71,614,580 71,614,580 71,614,580 71,614,580
assets:B
Total assets 72,032,69 75,861,93 80,097,62 89,329,40 105,036,09 129,080,88
(A+B) 5 6 5 9 8 6

Liabilities &
- - - - - -
owners' equity
Liabilities - - - - - -
Accounts payable 2,217,375 2,439,113 2,683,024 2,951,326 3,246,459
Working Capital
0 5,852,287 6,467,889 7,168,009 7,968,890 8,891,105
Loan
Current Liabilities 0 8,069,662 8,907,001 9,851,033 10,920,217 12,137,564
Long Term Bank
50,130,206 41,817,113 32,724,194 22,778,297 11,899,406 0
Loan
Total liabilities 50,130,206 49,886,775 41,631,195 32,629,330 22,819,623 12,137,564
E • unities
Sponsor's equity 21,902,489 18,000,000 18,000,000 18,000,000 18,000,000 18,000,000
Retained earnings - 7,975,162 20,466,430 38,700,079 64,216,476 98,943,323
Total equities 21,902,489 25,975,162 38,466,430 56,700,079 82,216,476 116,943,323
Total liabilities & 72,032,69 75,861,93 80,097,62 89,329,40 105,036,09 129,080,88
owner's Equity 5 6 5 9 9 6

Debt 70% 66% 52% 37% 22% 9%

Equity 30% 34% 48% 63% 78% 91%
Current Ratio % 0.00 0.53 1.31 2.47 4.19 6.46

43 | P a g e
 Annexure A-9

Internal Rate of Return

Non- Net
Profit before
Year Capital outlay cash operating
interest & taxes expenses inflow
-
0 72,032,695 -72,032,695 -
72,032,695
1 13,052,313 942,191 13,994,504
2 17,290,981 942,191 18,233,172
3 22,819,704 942,191 23,761,895
4 29,979,307 942,191 30,921,498
5 39,193,965 942,191 40,136,156
11 Salvage Value 50,466,382

IRR 18.45%

44 | P a g e
 Annexure A-10

Financial Decision Points

1) Payback Period 3.784 Years.
2) Discounted Payback Period 4.365 Years
3) Internal Rate of Return(IRR) 18.45%
4) Profitability Index (PI) 1.22

45 | P a g e
 Annexure A-11-1

SANSITYVITY ANALYSIS AT 5% INCREASE OF COGS

PARTICULARS Yr-1 Yr-2 Yr-3 Yr-4 Yr-5
Capacity
utilization 100% 100% 100% 100% 100%
Sales
revenue 22,940,000 28,675,000 35,843,750 44,804,688 56,005,859
Cost of goods
sold 8,651,933 10,082,697 11,646,795 13,356,117 15,223,671
Gross profit 14,288,067 18,592,303 24,196,955 31,448,571 40,782,188
Admin &
selling
expenses 1,647,751 1,781,451 1,931,860 2,105,269 2,313,160
Operating
Profit 12,640,316 16,810,853 22,265,095 29,343,302 38,469,028
Financial
expenses 4,191,022 3,411,794 2,560,094 1,627,755 608,580
Net profit
before taxes 8,449,294 13,399,059 19,705,000 27,715,547 37,860,448
Income tax * 844,929 1,339,906 1,970,500 2,771,555 3,786,045
Net profit
after taxes 7,604,364 12,059,153 17,734,500 24,943,992 34,074,403
Retained
earnings 7,604,364 12,059,153 17,734,500 24,943,992 34,074,403
Dividend
proposed @
15% 0 0 0 0 0
Cumulative
retained
earnings 7,604,364 19,663,517 37,398,018 62,342,010 96,416,413

46 | P a g e
 Annexure A-12-2

SANSITYVITY ANALYSIS AT 5% DECREASE OF COGS

PARTICULARS Yr-1 Yr-2 Yr-3 Yr-4 Yr-5
Capacity
utilization 100% 100% 100% 100% 100%
Sales
revenue 22,940,000 28,675,000 35,843,750 44,804,688 56,005,859
Cost of goods
7,827,939 9,122,440 10,537,577 12,084,106 13,773,798
sold
Gross profit 15,112,061 19,552,560 25,306,173 32,720,582 42,232,061
Admin &
selling
expenses 1,647,751 1,781,451 1,931,860 2,105,269 2,313,160
Operating
Profit 13,464,310 17,771,110 23,374,313 30,615,313 39,918,901
Financial
expenses 4,191,022 3,411,794 2,560,094 1,627,755 608,580
Net profit
before taxes 9,273,287 14,359,316 20,814,219 28,987,558 39,310,322
Income tax * 927,329 1,435,932 2,081,422 2,898,756 3,931,032
Net profit
after taxes 8,345,959 12,923,384 18,732,797 26,088,802 35,379,290
Retained
earnings 8,345,959 12,923,384 18,732,797 26,088,802 35,379,290
Dividend
proposed @
15% 0 0 0 0 0
Cumulative
retained 8,345,959 21,269,343 40,002,140 66,090,942 101,470,232
earnings

47 | P a g e
 Compare Sensitivity Analysis
5% Increase
Year-1 Year-2 Year-3 Year-4 Year-5
i. Gross profit to sales % 62.28% 64.84% 67.51% 70.19% 72.82%

55.10% 58.63% 62.12% 65.49% 68.69%

ii. Operating profit to sales %
If 5% increase of COGS Net profit 33.15% 42.05% 49.48% 55.67% 60.84%
to sales %
5% Decrease
i. Gross profit to sales % 65.88% 68.19% 70.60% 73.03% 75.41%

58.69% 61.97% 65.21% 68.33% 71.28%

ii. Operating profit to sales %
If 5% Decrease of COGS Net profit 36.38% 45.07% 52.26% 58.23% 63.17%
to sales %

SANSITIVITY ANALYSIS
If 5% increase of COGS Net profit to sales % If 5% Decrease of COGS Net profit to sales %

60.84%63.17%
55.67%58.23%
49.48%52.26%
42.05%45.07%
33.15%36.38%

1 2 3 4 5

48 | P a g e