Model Detailed Project Report

POULTRY FEED MAKING UNIT

Under the Formalization of Micro Food Processing Enterprises Scheme
(Ministry of Food Processing Industries, Government of India)

Prepared by

Indian Institute of Food Processing Technology (IIFPT)

Pudukkottai Road, Thanjavur, Tamil Nadu
Ministry of Food Processing Industries, Government of India
 Index

S No. Topic Page

Number
1. The Project At a Glance 3
2. About the Project 4-16
2.1. Poultry Feed Making Unit 4
2.2. Raw Material Requirements 4
2.3. Technology 4
2.4. Market Demand and Supply 4-5
2.5. Marketing Strategy 5
2.6. Manufacturing Process 5-6
2.7. Basic Project Assumptions 6
2.8. Fixed Capital Investment 7
2.8.A. Land & Building 7
2.8.B. Machinery & Equipment 7
2.8.C. Other Fixed Assets 7
2.8.D. Total Fixed Capital Investment 7
2.9. Working Capital Requirement 8
2.10. Total Project Cost and Means of Finance 9
2.11. Manpower 9
2.12. Financial Analysis 10-12
2.13. Depreciation Schedule 13
2.14. Repayment Schedule 14
2.15. Financial Ratios 15
2.16. Break Even Point Analysis 16
3. Limitations of the Model DPR and Guidelines for Entrepreneurs 17-18
3.1. Limitations of the Model DPR 17
3.2. Guidelines for the Entrepreneurs 17-18
 1. The Project at a Glance

1. Name of the proposed project : Poultry Feed Making Unit

2. Name of the
entrepreneur/FPO/SHG/Cooperative :
3. Nature of proposed project : Proprietorship/Company/Partnership
4. Registered office :
5. Project site/location :
6. Names of Partner (if partnership) :
7. No of share holders (if company/FPC) :
8. Technical advisor :
9. Marketing advisor/partners :
10. Proposed project capacity : 360000 kg/annum(50,55,60,65,&70% capacity
utilization in 1st to 5th Year respectively)
11. Raw materials : Grinded maize, Wheat offal, Maize offal, Groundnut
cake meal, Soyabean meal, Fish meal, Soyabean
cake, Bone meal , etc.. & packaging material
12. Major product outputs : Poultry Feed
13. Total project cost : Rs. 31.68 Lakh
 Land development, building & civil : 4 Lakh
Construction
 Machinery and equipments : Rs. 21.77 Lakh
 Other Fixed Assets : Rs. 2 Lakh
 Working capital margin : Rs.2.52 Lakh
 Contingencies : Rs. 1.39 Lakh
14. Working capital requirement Rs. 7.56 Lakh
15. Means of Finance
 Subsidy grant by MoFPI (max 10 lakhs) : Rs. 10.00 Lakh
 Promoter’s contribution (min 20%) : Rs. 9.18 Lakh
 Term loan (45%) : Rs. 12.5 Lakh
16. Debt-equity ratio : 1.07
17. Profit after Depreciation, Interest & Tax
 1st year : 2.00 Lakh
 2nd year : 4.66 Lakh
 3rd year : 6.59 Lakh
 4th year : 8.63 Lakh
 5th year : 10.73 Lakh
18. Average DSCR : 2.67
19. Term loan repayment : 5 Years with 6 months grace period

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 2. About the Project

2.1. Poultry Feed Making Unit

Poultry farming is the fastest-growing livestock sector in India. Poultry feed is the feedstock
that is used for feeding the poultry for improving growth rate, obtaining high quality, and
reduced mortality rate. The poultry feedstock is of different types depending on the finished
product that is eggs or meat. Nowadays, the use of Poultry feedstock is found in almost every
poultry farm, due to its cost-effectiveness and desirable results. As farming became more
specialized, many farms kept flocks too large to be fed in this way, and nutritionally complete
poultry feed were developed. Modern feeds for poultry consists largely of grain, protein
supplements such as soybean oil meal, mineral supplements, and vitamin supplements. The
quantity of feed, and the nutritional requirements of the feed, depend on the weight and age of
the poultry, their rate of growth, their rate of egg production, the weather (cold or wet weather
causes higher energy expenditure), and the amount of nutrition the poultry obtain from foraging.
The feed must remain clean and dry contaminated feed can infect poultry.

2.2. Raw Material Requirements

Major raw materials are as follows:

Grinded maize, Wheat offal, Maize offal, Groundnut cake meal, soybean meal, Fish meal,
Soybean cake, Bone meal, L-lysine, Table salt Vitamin premix etc.
Gunny bags, plastics bag etc. required for packaging of feed material.

2.3.Technology
IIFPT has all the advanced technical know on poultry feed making unit with respect to
specific parameters’ for getting good quality standards. These technologies are available
through consultancy.

2.4. Market Demand and Supply

The market of poultry feed is a part of the vast animal feed market and it makes a major part of
it as poultry is invariably consumed all over the world. By 2023, the global poultry feed industry
is forecast to account for USD 157,715.1 million, from 2019 to 2023 CAGR of 6.9 percent is
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expected. The Indian poultry feed industry, dependent on the sound growth of poultry has a
great untapped potential, with southern part of India holding the maximum share of poultry
production and consumption. Poultry feedstock is almost used in every poultry farm owing to its
cost effective and desired results. However, with the advent of globalization and rise in the
standard of living of consumers, companies are expanding in the emerging markets of the world
with improved products and wide range of options for each animal group. Poultry meat is the
highest among others such as pork, beef and fish meat. Therefore, vast opportunity lies in the
poultry feed segment.

2.5. Marketing Strategy

The increase in agricultural activities all over the world and in India especially the scope of
poultry feed is very wide and good quality of feed will attract more customers and demands.
Urban organized platforms such as departmental stores, malls, super markets can be attractive
platforms to sell well packaged poultry feed. Processors can through different social
advertisement techniques can built more demand for their product and can expand their
business activities at initial as well as at subsequent level.

2.6. Manufacturing Process

 The different feed ingredients are taken in a batch mixer from the raw material storage
godown in accordance with feed formulation.
 After mixing all raw materials is ground to a uniform particle size of 1 mm. The ground
material is further mixed.
 The material used in feed formulation in similar quantities such as vitamins, minerals, urea,
calcite powder, common salt, etc. are mixed in ribbon mixture using proper diluents and
storage in one of the storage bin
 Ground material and molasses are mixed simultaneously in a twin-screw type mixture.
Usually, molasses are added at the rate of 10% in the poultry feed.
 Molassed feed is mixed with the dry steam before pelleting.
 Steam acts as a conditioner to the feed and it helped to killing some pathogens.
 The temperature of steam feed is in the range of 75 to 80 degrees centigrade.

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  Now, the steamed feed is converted to pallets by pressing it through a cylindrical die and
press roller.
 Usually, 2 mm die used for is used for the production of pelleted feed for poultry.
 Pelleted feat thus produce is passed through pellet cooler before packaging in HDPR or
gunny bags.
Process Flow:

Raw material cleaning

Raw material crushing

Batching

Mixing

Pelletizing

Screening, cooling & packaging

2.7. Basic Project Assumptions

Capacity of Poultry Feed Making Unit: 360000 Kg/annum

Working hours per day : 8-10 hrs.

Working days per year : 300 days.
Interest on capital investment : 11% on term loan and working capital loan.

Repayment period : Five years with six months grace period is considered.
Utilization of capacity : 50% 1st year, 55% in 2nd year, 60% in 3rd year, 65% in
4th year & 70% 5th year onwards

Average prices of raw material : Rs. 18/Kg

Average sale price : Rs 32/Kg

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2.8. Fixed Capital Investment

2.8.A. Land & Building

The DPR is for FME scheme to upgrade/formalize existing micro enterprises which
already has land & built-up area. However, they can invest to expand the built-up area as
required. So additional 1000 sq ft can be built in @ Rs. 400/sq ft. Therefore Civil work
cost will be Rs 4 Lakhs (Approx.)

2.8.B. Machinery & Equipment: Following machinery and equipments are used:

Description Rate Unit Amount

Grain Cleaning machine 85000 1 85000
Hammer Mill 100000 1 100000
Mixer Mill 95000 1 95000
Pellets Mill 485000 1 485000
Boiler 240000 1 240000
Conveyor System 140000 1 150000
Counter Flow cooler 250000 1 250000
Packing machine 400000 1 400000
Material handling equipments 40000
(trolly, bins, etc.)
Total Amount 1845000
GST @18% 332100
Net Amount 2177100
Net Amount (Round off) 2177000

2.8.C. Other Fixed Assets:

i. Furniture and Fixtures Rs. 2 Lakh

ii. Plastic trays capacity
iii. Electrical fittings

2.8.D. Total Fixed Capital Investment (A+B+C): Rs. 27.77 Lakh

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 2.9. Working Capital Requirement

Working capital is critical input in poultry feed making unit.

COMPUTATION OF CLOSING STOCK & WORKING CAPITAL

PARTICULARS I II III IV V

Finished Goods
(30 Days requirement) 5.76 6.73 7.56 8.42 9.32
Raw Material
(30 Days requirement) 3.24 3.66 4.10 4.56 5.04

Closing Stock 9.00 10.40 11.66 12.99 14.36

COMPUTATION OF WORKING CAPITAL REQUIREMENT

Particulars Amount Margin(25%) Net

Amount
Stock in Hand 9.00
Less:
Sundry Creditors 1.51
Paid Stock 7.49 1.87 5.62

Sundry Debtors 2.59 0.65 1.94

Working Capital Requirement 7.56

Margin 2.52

MPBF 7.56
Working Capital Demand 7.56

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2.10. Total Project Cost and Means of Finance

Particulars Amount (Rs. in Lakhs)

i. Land and building 4
ii. Plant and machinery 21.77
iii. Other Fixed assets 2.00
iv. Working capital margin 2.52
v. Contingencies 1.39
Total project cost (i to v) 31.68
Means of finance
i. Subsidy 10.00
ii. Promoter’s contribution 9.18
iii. Term loan 12.5
Total Means of Finance(i to iii) 31.68

2.11. Manpower:

BREAK UP OF LABOUR

Particulars Wages No of Total

Per Month Employees Salary
Skilled/Unskilled Worker 10,000.00 3 30,000.00
Helper 7,000.00 4 28,000.00
-
58,000.00
Add: 10% Fringe Benefit 5,800.00
Total Labour Cost Per Month 63,800.00
Total Labour Cost for the year ( In Rs. Lakhs) 7 7.66

BREAK UP OF SALARY

Particulars Salary No of Total

Per Month Employees Salary
Accountant cum store keeper 15,000.00 1 15,000.00
Sales 12,000.00 1 12,000.00
Total Salary Per Month 27,000.00
Add: 5% Fringe Benefit 1,350.00
Total Salary for the month 28,350.00

Total Salary for the year ( In Rs. Lakhs) 2 3.40

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2.12. Financial Analysis:

PROJECTED BALANCE SHEET

PARTICULARS I II III IV V

SOURCES OF FUND
Capital Account
Opening Balance - 20.39 23.84 26.94 30.57
Add: Additions 9.18 - - - -
Add: Net Profit 2.00 4.66 6.59 8.63 10.73
Less: Drawings 0.80 1.20 3.50 5.00 7.00
Subsidy/Grant 10.00 - - - -
Closing Balance 20.39 23.84 26.94 30.57 34.29
CC Limit 7.56 7.56 7.56 7.56 7.56
Term Loan 11.11 8.33 5.55 2.78 -
Sundry Creditors 1.51 1.71 1.92 2.13 2.35
TOTAL : 40.57 41.44 41.97 43.03 44.20

APPLICATION OF FUND

Fixed Assets ( Gross) 27.77 27.77 27.77 27.77 27.77

Gross Dep. 1.04 2.37 3.87 5.54 7.39
Net Fixed Assets 26.73 25.40 23.90 22.23 20.38

Current Assets
Sundry Debtors 2.59 3.34 3.75 4.18 4.63
Stock in Hand 9.00 10.40 11.66 12.99 14.36
Cash and Bank 2.24 2.31 2.65 3.64 4.84

TOTAL : 40.57 41.44 41.97 43.03 44.20

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PROJECTED PROFITABILITY STATEMENT

PARTICULARS I II III IV V

A) SALES
Gross Sale 51.84 66.71 74.97 83.59 92.57

Total (A) 51.84 66.71 74.97 83.59 92.57

B) COST OF SALES

Raw Material Consumed 32.40 36.63 41.04 45.63 50.40

Elecricity Expenses 1.68 1.85 2.01 2.18 2.35
Repair & Maintenance 2.07 2.67 3.15 3.34 3.70
Labour & Wages 7.66 8.42 8.84 9.55 10.31
Packing & other overheads 1.04 1.33 1.50 1.67 1.85
Cost of Production 44.84 50.90 56.55 62.38 68.62

Add: Opening Stock /WIP - 5.76 6.73 7.56 8.42

Less: Closing Stock /WIP 5.76 6.73 7.56 8.42 9.32

Cost of Sales (B) 39.08 49.93 55.72 61.51 67.72

C) GROSS PROFIT (A-B) 12.76 16.78 19.25 22.08 24.86

24.60% 25.15% 25.68% 26.41% 26.85%
D) Bank Interest (Term Loan ) 1.36 1.11 0.80 0.50 0.19
ii) Interest On Working Capital 0.83 0.83 0.83 0.83 0.83
E) Salary to Staff 3.40 4.08 4.90 5.88 6.76
F) Selling & Adm Expenses Exp. 1.30 2.27 2.55 2.84 3.05
G) Depreciation as per Schedule 3.87 3.32 2.85 2.44 2.10
TOTAL (D+E+F+G) 10.75 11.61 11.93 12.49 12.94

H) NET PROFIT 2.00 5.17 7.33 9.59 11.92

3.9% 7.8% 9.8% 11.5% 12.9%
I) Taxation - 0.52 0.73 0.96 1.19

J) PROFIT (After Tax) 2.00 4.66 6.59 8.63 10.73

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PROJECTED CASH FLOW STATEMENT

PARTICULARS I II III IV V

SOURCES OF FUND
Own Contribution 9.18 -
Reserve & Surplus 2.00 5.17 7.33 9.59 11.92
Depriciation & Exp. W/off 1.04 1.33 1.50 1.67 1.85
Increase In Cash Credit 7.56 - - - -
Increase In Term Loan 12.50 - - - -
Increase in Creditors 1.51 0.20 0.21 0.21 0.22
Subsidy/Grant 10.00 - - - -

TOTAL : 43.79 6.71 9.03 11.47 13.99

APPLICATION OF FUND

Increase in Fixed Assets 27.77 - - - -

Increase in Stock 9.00 1.40 1.27 1.32 1.38
Increase in Debtors 2.59 0.74 0.41 0.43 0.45
Repayment of Term Loan 1.39 2.78 2.78 2.78 2.78
Taxation - 0.52 0.73 0.96 1.19
Drawings 0.80 1.20 3.50 5.00 7.00
TOTAL : 41.55 6.63 8.69 10.49 12.80

Opening Cash & Bank Balance - 2.24 2.31 2.65 3.64

Add : Surplus 2.24 0.07 0.34 0.98 1.20

Closing Cash & Bank Balance 2.24 2.31 2.65 3.64 4.84

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2.13. Depreciation Schedule:

COMPUTATION OF DEPRECIATION

Buiilding(Civil Plant &

Description Land Work) Machinery Other Assets TOTAL

Rate of Depreciation 10.00% 15.00% 10.00%

Opening Balance Leased - - - -
Addition - 4.00 21.77 2.00 27.77
- 4.00 21.77 2.00 27.77
- - - -
TOTAL 4.00 21.77 2.00 27.77
Less : Depreciation - 0.40 3.27 0.20 3.87
WDV at end of Ist year - 3.60 18.50 1.80 23.90
Additions During The Year - - - - -
- 3.60 18.50 1.80 23.90
Less : Depreciation - 0.36 2.78 0.18 3.32
WDV at end of IInd Year - 3.24 15.73 1.62 20.59
Additions During The Year - - - - -
- 3.24 15.73 1.62 20.59
Less : Depreciation - 0.32 2.36 0.16 2.85
WDV at end of IIIrd year - 2.92 13.37 1.46 17.74
Additions During The Year - - - - -
- 2.92 13.37 1.46 17.74
Less : Depreciation - 0.29 2.01 0.15 2.44
WDV at end of IV year - 2.62 11.36 1.31 15.30
Additions During The Year - - - - -
- 2.62 11.36 1.31 15.30
Less : Depreciation - 0.26 1.70 0.13 2.10
WDV at end of Vth year - 2.36 9.66 1.18 13.20

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2.14. Repayment Schedule:

REPAYMENT SCHEDULE OF TERM LOAN 11.0%

Year Particulars Amount Addition Total Interest Repayment Cl Balance

I Opening Balance
Ist Quarter - 12.50 12.50 0.34 - 12.50
Iind Quarter 12.50 - 12.50 0.34 - 12.50
IIIrd Quarter 12.50 - 12.50 0.34 0.69 11.80
Ivth Quarter 11.80 - 11.80 0.32 0.69 11.11
1.36 1.39
II Opening Balance
Ist Quarter 11.11 - 11.11 0.31 0.69 10.41
Iind Quarter 10.41 - 10.41 0.29 0.69 9.72
IIIrd Quarter 9.72 - 9.72 0.27 0.69 9.03
Ivth Quarter 9.03 9.03 0.25 0.69 8.33
1.11 2.78
III Opening Balance
Ist Quarter 8.33 - 8.33 0.23 0.69 7.64
Iind Quarter 7.64 - 7.64 0.21 0.69 6.94
IIIrd Quarter 6.94 - 6.94 0.19 0.69 6.25
Ivth Quarter 6.25 6.25 0.17 0.69 5.55
0.80 2.78
IV Opening Balance
Ist Quarter 5.55 - 5.55 0.15 0.69 4.86
Iind Quarter 4.86 - 4.86 0.13 0.69 4.17
IIIrd Quarter 4.17 - 4.17 0.11 0.69 3.47
Ivth Quarter 3.47 3.47 0.10 0.69 2.78
0.50 2.78
V Opening Balance
Ist Quarter 2.78 - 2.78 0.08 0.69 2.08
Iind Quarter 2.08 - 2.08 0.06 0.69 1.39
IIIrd Quarter 1.39 - 1.39 0.04 0.69 0.69

Ivth Quarter 0.69 0.69 0.02 0.69 - 0.00

0.19 2.78

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2.15. Financial Ratios:

FINANCIAL RATIOS
I II III IV V
TURNOVER 51.84 66.71 74.97 83.59 92.57
GROSS PROFIT 12.76 16.78 19.25 22.08 24.86
G.P. RATIO 24.60% 25.15% 25.68% 26.41% 26.85%

NET PROFIT 2.00 5.17 7.33 9.59 11.92

N.P. RATIO 3.9% 7.8% 9.8% 11.5% 12.9%

CURRENT ASSETS 13.83 16.04 18.07 20.80 23.83

CURRENT LIABILITIES 9.07 9.27 9.48 9.69 9.91
CURRENT RATIO 1.52 1.73 1.91 2.15 2.40

TERM LOAN 11.11 8.33 5.55 2.78 -

TOTAL NET WORTH 10.39 13.84 16.94 20.57 24.29
DEBT/EQUITY 1.07 0.60 0.33 0.14 -

TOTAL NET WORTH 10.39 13.84 16.94 20.57 24.29

TOTAL OUTSIDE LIABILITIES 20.18 17.60 15.03 12.47 9.91
TOL/TNW 1.94 1.27 0.89 0.61 0.41

PBDIT 8.06 10.43 11.81 13.36 15.04

INTEREST 2.19 1.94 1.63 1.33 1.02
INTEREST COVERAGE RATIO 3.68 5.38 7.23 10.06 14.71

WDV 26.73 25.40 23.90 22.23 20.38

TERM LOAN 11.11 8.33 5.55 2.78 -
FACR 2.41 3.05 4.30 8.00 -

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2.16. Breakeven Point Analysis:

BREAK EVEN POINT ANALYSIS

Year I II III IV V

Net Sales & Other Income 51.84 66.71 74.97 83.59 92.57
Less : Op. WIP Goods ‐ 5.76 6.73 7.56 8.42
Add : Cl. WIP Goods 5.76 6.73 7.56 8.42 9.32

Total Sales 57.60 67.68 75.80 84.46 93.47

Variable & Semi Variable Exp.

Raw Material & Tax 32.40 36.63 41.04 45.63 50.40

Electricity Exp/Coal Consumption at 85% 1.43 1.57 1.71 1.85 2.00
Wages & Salary at 60% 6.63 7.50 8.24 9.26 10.24
Selling & adminstrative Expenses 80% 1.04 1.81 2.04 2.27 2.44
ii) Interest On Working Capital 0.83 0.83 0.83 0.83 0.83
Repair & Maintenance 2.07 2.67 3.15 3.34 3.70
Packing & other overheads 1.04 1.33 1.50 1.67 1.85
Total Variable & Semi Variable Exp 45.44 52.35 58.52 64.86 71.47

Contribution 12.16 15.33 17.28 19.59 22.00

Fixed & Semi Fixed Expenses

Electricity Exp/Coal Consumption at 15% 0.25 0.28 0.30 0.33 0.35

Wages & Salary at 40% 4.42 5.00 5.50 6.17 6.83
Interest on Term Loan 1.36 1.11 0.80 0.50 0.19
Depreciation 3.87 3.32 2.85 2.44 2.10
Selling & adminstrative Expenses 20% 0.26 0.45 0.51 0.57 0.61
Total Fixed Expenses 10.16 10.16 9.96 10.01 10.08

Capacity Utilization 50% 55% 60% 65% 70%

OPERATING PROFIT 2.00 5.17 7.33 9.59 11.92
BREAK EVEN POINT 42% 36% 35% 33% 32%
BREAK EVEN SALES 48.10 44.83 43.67 43.13 42.84

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 3. Limitations of the Model DPR and Guidelines for Entrepreneurs

3.1. Limitations of the Model DPR

i. This model DPR has provided only the basic standard components and methodology to be
adopted by an entrepreneur while submitting a proposal under the Formalization of Micro Food
Processing Enterprises Scheme of MoFPI.

ii. This is a model DPR made to provide general methodological structure not for specific
entrepreneur/crops/location. Therefore, information on the entrepreneur, forms and structure
(proprietorship/partnership/cooperative/ FPC/joint stock company) of his business, details of
proposed DPR, project location, raw material base/contract sourcing, entrepreneurs own SWOT
analysis, detailed market research, rationale of the project for specific location, community
advantage/benefit from the project, employment generation and many more detailed aspects not
included.

iii. The present DPR is based on certain assumptions on cost, prices, interest, capacity
utilization, output recovery rate and so on. However, these assumptions in reality may vary
across places, markets and situations; thus the resultant calculations will also change
accordingly.

iv. This particular DPR is made on three components of means of finance i.e. grant, owner’s
contribution and loan/debt as followed in many central sector schemes. However, if the DPR is
for credit linked subsidy then the calculation may slightly change without changes in the general
structure and methodology adopted in the DPR.

3.2. Guidelines for the Entrepreneurs

i. The success of any prospective food processing project depends on how closer the
assumptions made in the initial stage are with the reality of the targeted
market/place/situation. Therefore, the entrepreneurs must do its homework as realistic as
possible on the assumed parameters.
ii. This model DPR must be made more comprehensive by the entrepreneur by including
information on the entrepreneur, forms and structure (proprietorship/partnership/cooperative/
FPC/joint stock company) of entrepreneur’s business, project location, raw material
base/contract sourcing, entrepreneurs own SWOT analysis, detailed market research,
comprehensive dehydrated product mix based on demand, rationale of the project for specific
location, community advantage/benefit from the project, employment generation,
production/availability of the raw materials/crops in the targeted area/clusters and many more
relevant aspects for acceptance and approval of the competent authority.

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 iii. The entrepreneur must be efficient in managing the strategic, financial, operational,
material and marketing aspects of a business. In spite of the assumed parameter being
closely realistic, a project may become unsustainable if the entrepreneur does not possess
the required efficiency in managing different aspects of the business and respond
effectively in changing situations.

iv. The machineries should be purchased after thorough market research and satisfactory
demonstration.

v. The entrepreneur must ensure uninterrupted quality raw materials’ supply and maintain
optimum inventory levels for uninterrupted operations management.

vi. The entrepreneur must possess a strategic look to steer the business in upward trajectory.

vii. The entrepreneur must maintain optimum (not more or less) inventory, current assets.
Selecting optimum source of finance, not too high debt-equity ratio, proper capital
budgeting and judicious utilization of surplus profit for expansion is must.

viii. The entrepreneur must explore prospective markets through extensive research, find
innovative marketing strategy, and maintain quality, adjust product mix to demand.

ix. The entrepreneur must provide required documents on land, financial transaction, balance
sheet, further project analysis as required by the competent authority for approval.

x. The entrepreneur must be hopeful and remain positive in attitude.

………………………………

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