PROGRESSIVE POULTRY FARMS

Demand Finance Repayment Schedule (HBL)

D F Amount 1, 000, 000.
Mark up rate 40 paisa/1000/day
Tenor 5 yrs Grace period 6 months

Amount Grace
Princ. Total Ending
No Date of period
Amount Instalement Balance
Markup Markup
- 31-Dec-03 1000000
- 31-Mar-04 1000000
1 30-Jun-04 50000 36500 36500 123000 950000
2 30-Sep-04 50000 34675 84675 900000
3 31-Dec-04 50000 32850 82850 850000
4 31-Mar-05 50000 31025 81025 800000
5 30-Jun-05 50000 29200 79200 750000
6 30-Sep-05 50000 27375 77375 700000
7 31-Dec-05 50000 25550 75550 650000
8 31-Mar-06 50000 23725 73725 600000
9 30-Jun-06 50000 21900 71900 550000
10 30-Sep-06 50000 20075 70075 500000
11 31-Dec-06 50000 18450 68450 450000
12 31-Mar-07 50000 16425 66425 400000
13 30-Jun-07 50000 14600 64600 350000
14 30-Sep-07 50000 12775 62775 300000
15 31-Dec-07 50000 10950 60950 250000
16 31-Mar-08 50000 9125 59125 200000
17 30-Jun-08 50000 7300 57300 150000
18 30-Sep-08 50000 5475 55475 100000
19 31-Dec-08 50000 3650 53650 50000
20 31-Mar-09 50000 1825 51825 -
 PROGRESSIVE POULTRY FARMS
BALANCE SHEETS
PROJECTED
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Cash 4124000 1809915 3636130 7924321 11277818 15243289
A/R 873600 1419600 1310400 1419600 1310400
Inventory (feed) 716700 1069700 786400 3940 256100
Birds 775000 775000 775000 775000 775000
C.A. 4124000 4175215 6900430 10796121 13476358 17584789

Land 100000 100000 100000 100000 100000 100000

Electricity Connect. 10000 10000 10000 10000 10000 10000
Sheds 150000 150000 135000 120000 105000 90000
Acc. Dep. 150000 15000 135000 15000 120000 15000 105000 15000 90000 15000 75000
Sheds with cages 1266000 1266000 1139400 1012800 886200 759600
Acc. Dep. 1266000 126600 1139400 126600 1012800 126600 886200 126600 759600 126600 633000
Boundry wall 50000 50000 45000 40000 35000 30000
Acc. Dep. 50000 5000 45000 5000 40000 5000 35000 5000 30000 5000 25000
Office 65000 65000 58500 52000 45500 39000
Acc. Dep. 65000 6500 58500 6500 52000 6500 45500 6500 39000 6500 32500
Furniture 35000 35000 31500 28000 24500 21000
Acc. Dep. 35000 3500 31500 3500 28000 3500 24500 3500 21000 3500 17500
Tubewell 200000 200000 180000 160000 140000 120000
Acc. Dep. 200000 20000 180000 20000 160000 20000 140000 20000 120000 20000 100000
F.A. 1876000 1699400 1522800 1346200 1169600 993000
Total Assets 6000000 5874615 8423230 12142321 14645958 18577789

A/P 900000 1100000 800000 990000 850000

L.T. Liab. 1000000 1000000 850000 650000 450000 250000
Less: Payment 150000 850000 200000 650000 200000 450000 200000 250000 200000 50000
T.Liab. 1000000 1750000 1750000 1250000 1240000 900000

Capital 5000000 5000000 4124615 6673230 10892321 13405958

Profit -875385 4124615 2548615 6673230 4219091 10892321 2513637 13405958 4271831 17677789
T.Cap. 5000000 4124615 6673230 10892321 13405958 17677789
Liab.+Cap. 6000000 5874615 8423230 12142321 14645958 18577789
 PROGRESSIVE POULTRY FARMS
INCOME STATEMENT
(PROJECTED)
Year 1 Year 2 Year 3 Year 4 Year 5
Sales 8736000 14196000 13104000 14196000 13104000

Op. Bal 716700 1069700 786400 39400

Purchases 9000000 11000000 8000000 9900000 8500000
T. Purchases 9000000 11716700 9069700 10686400 8539400
Cl. Bal 716700 1069700 786400 39400 256100
COGS 8283300 10647000 8283300 10647000 8283300
Gross Profit 452700 3549000 4820700 3549000 4820700

Vaccination 530960 44720 530960 44720 530960

Dep. Exp 176600 176600 176600 176600 176600
Electricity 120000 120000 120000 120000 120000
Wages 360000 360000 360000 360000 360000

T. operating Exp. 1187560 701320 1187560 701320 1187560

EBIT -734860 2847680 3633140 2847680 3633140
Int. Exp 140525 113150 84150 54750 25550
EBT -875385 2734530 3548990 2792930 3607590
I.Tax 0 185915 354899 279293 360759
N.I. -875385 2548615 3194091 2513637 3246831
Add Gain on sale
of birds 1025000 1025000
N.I.(Adjusted) 4219091 4271831
 PROGRESSIVE POULTRY FARMS
Cash Flows
(Projected)
Year 1 Year 2 Year 3 Year 4 Year 5
Sales 8736000 14196000 13104000 14196000 13104000
A/R -873600 -546000 109200 -109200 109200
7862400 13650000 13213200 14086800 13213200
COGS -8283300 -10647000 -8283300 -10647000 -8283300
A/P 900000 200000 -300000 190000 -140000
Inventory -716700 -8100000 -353000 -10800000 283300 -8300000 782460 -9674540 -252160 -8675460
-237600 2850000 4913200 4412260 4537740
Oper. Exp -1187560 -701320 -1187560 -701320 -1187560
Dep. Exp 176600 -1010960 176600 -524720 176600 -1010960 176600 -524720 176600 -1010960
-1248560 2325280 3902240 3887540 3526780
Int. Exp -140525 -113150 -84150 -54750 -25550
-1389085 2212130 3818090 3832790 3501230
Income Tax 0 -185915 -354899 -279293 -360759
CF form
Operation -1389085 2026215 3463191 3553497 3140471

Proceeds from
sale of birds 1800000 1800000
Purchases of
birds -775000 -775000 -775000
CF from
Investment -775000 0 1025000 0 1025000

L.T. loan
payment -150000 -200000 -200000 -200000 -200000
CF from
Financing -150000 -200000 -200000 -200000 -200000

NCF -2314085 1826215 4288191 3353497 3965471

Cash(Op. Bal) 4124000 1809915 3636130 7924321 11277818
Cash(Cl. Bal) 1809915 3636130 7924321 11277818 15243289
 Progrssive Poultry Farms
Balance Sheet Assumptions

A/R 10 % of sales

Birds Purchase Bepcock birds 31000 @ Rs.25 each 31000*25=775000

Birds Sales 30000 birds(31000 birds purchased, and mortality of 1000

birds is expected) for Rs 20 per KG, Average weight of
one bird at the time of sale 3 kg. Birds are sold after
purchase of 120 weeks. 30000*20*3=1800000

Mortality rate 3.23% 31000*.0323=1000 Approximately

Dep. Exp Straight line method. 10 % of Book value is assumed as

scrape value.Depreciation @ 11.111% applicable to all
fixed assets accept Land and electricity connection
charges. Depreciation schedule in annexed.

A/P 10 % of purchases

Longterm liab HBL Demand Finance Scheme. 40 paisa per 1000 daily, 5
year repayment schedule payable every quarter Schedule is annexed.
 Progressive Poultry Farms
Income Tax Assumptions
Sales After 20 weeks birds start giving eggs
Birds will give eggs for 100 weeks
Eggs giving ratio is 78 %
Selling price per egg is Rs 1.667
Sales year 1 In year one after 20 weeks birds will lay eggs 30000*.78=23400*1.667=39007.8 for one day.
39007.8*224=8737747.2 for one year. But Rs
8736000 is estimated as approximate sales.
Sales year 2 In year 2 birds will supposed to lay eggs for all 52 weeks 39007.8*365=14237847 Rs 14196000
estimated sales
Sales year 3 In year 3 birds will lay eggs for 48 weeks, because after 39007.8*336=13106620.8 Rs 13104000
completion of 120 weeks birds will be sold and new birds will be estimated sales
caged. These newly caged birds will lay eggs after 4 weeks

Sales year 4 In year 2 birds will supposed to lay eggs for all 52 weeks 39007.8*365=14237847 Rs 14196000
estimated sales
Sales year 5 In year 3 birds will lay eggs for 48 weeks, because after 39007.8*336=13106620.8 Rs 13104000
completion of 120 weeks birds will be sold and new birds will be estimated sales
caged. These newly caged birds will lay eggs after 4 weeks
Inventory Feeds of birds is treated as inventory
At start for 16 weeks birds will need growery feed , cost of which
will be Rs 912300
After 16 weeks the cost of feed per day is Rs 29250
Vaccination At start during growery period the cost of vaccination will be Rs
500000
After growery period vaccination is required after every 8 weeks ,
the cost of which will be Rs 6880
Depreciation Straight line method. 10 % of Book value is assumed as scrape
Exp value.Depreciation @ 11.111% applicable to all fixed assets
accept Land and electricity connection charges.
Electricity Rs 10000 per month
Wages One supervisor Rs 5000
Ten Labors Rs 2000 each
Two Guards Rs 2500 each
Income Tax 10 % of EBT
 PROGRESSIVE POULTRY FRMS
DEPRECIATION SCHEDULE
year 0 year 1 year 2 year 3 year 4 year 5
Sheds 150000 150000 150000 150000 150000 150000
Acc. Dep. 0 15000 30000 45000 60000 75000
Net Value 150000 135000 120000 105000 90000 75000

Sheds with
cages 1266000 1266000 1266000 1266000 1266000 1266000
Acc. Dep. 0 126600 253200 379800 506400 633000
Net Value 1266000 1139400 1012800 886200 759600 633000

Boundry
wall 50000 50000 50000 50000 50000 50000
Acc. Dep. 0 5000 10000 15000 20000 25000
Net Value 50000 45000 40000 35000 30000 25000

Office 65000 65000 65000 65000 65000 65000

Acc. Dep. 0 6500 13000 19500 26000 32500
Net Value 65000 58500 52000 45500 39000 32500

Furniture 35000 35000 35000 35000 35000 35000

Acc. Dep. 0 3500 7000 10500 14000 17500
Net Value 35000 31500 28000 24500 21000 17500

Tubewell 200000 200000 200000 200000 200000 200000

Acc. Dep. 0 20000 40000 60000 80000 100000
Net Value 200000 180000 160000 140000 120000 100000