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ANALISIS FINANCIERO: CAF SIP

VENTAS ( mercado) producto procesado

AOS BASE 1 2 3

Caf soluble (soles/kilo) S/. 11.00 ### ###

TOTAL DE KILOS / mes

Caf soluble (soles/kilo) 194917 ### ###

VENTAS

Caf soluble (soles/kilo) S/. 2,144,087 ### ###

TOTAL VENTAS S/. 2,144,087.00 S/. 2,301,897.00 S/. 2,406,000.00

PERSONAL DE VENTAS

PERSONAL NUMERO SUELDO


Gerente 1 S/. 5,000.00
Jefes de area 4 S/. 2,500.00
ing.agronomo 1 S/. 3,000.00
ing.quimica 1 S/. 3,000.00
total 7
sueldos anuales

COSTOS
AO BASE 1 2 3

Trabajadores administrativos S/. 252,000.00 S/. 10,000.00 S/. 10,000.00


Costos de producion y transf S/. 1,309,645.62 S/. 85,000.00 S/. 85,600.00
Costos de equipos de S/. 50,000.00 S/. 35,000.00 S/. 35,000.00
transformacion
mantenimiento S/. 15,000.00 S/. 15,000.00 S/. 15,000.00
luz,agua, internet, etc S/. 1,500.00 S/. 1,500.00 S/. 1,500.00
Gasto de comercializacion S/. 10,000.00 S/. 0.00 S/. 0.00
Gastos Administrativos S/. 5,000.00 S/. 5,000.00 S/. 2,500.00
TOTAL GASTOS S/. 1,643,145.62 S/. 151,500.00 S/. 149,600.00
FINANCIAMIENTO
INVERSION
CAPITAL DEUDA
EQUIPOS S/. 72,500.00 S/. 43,500.00 S/. 29,000.00
CAPITAL DE TRABAJO S/. 150,000.00 S/. 90,000.00 S/. 60,000.00
ALQUILER/ AO S/. 20,000.00 S/. 20,000.00 S/. 0.00

ACONDICIONAMIENTO DEL S/. 10,000.00 S/. 10,000.00 S/. 0.00


LOCAL
TOTAL S/. 252,500.00 S/. 163,500.00 S/. 89,000.00

CON INFLACION

SERVICIO DE LA DEUDA
AGROBANCO 12.00% INTERES

AOS SALDO DEUDOR INTERES AMORTIZACION


1 S/. 89,000.00 S/. 10,680.00 S/. 17,800.00
2 S/. 71,200.00 S/. 8,544.00 S/. 14,240.00
3 S/. 56,960.00 S/. 6,835.20 S/. 14,240.00
4 S/. 42,720.00 S/. 5,126.40 S/. 14,240.00
5 S/. 28,480.00 S/. 3,417.60 S/. 14,240.00
TOTAL S/. 74,760.00

2.65% SIN INFLACION

AOS SALDO DEUDOR INTERES AMORTIZACION


1 S/. 89,000.00 S/. 10,404.29 S/. 17,340.48
2 S/. 71,659.52 S/. 8,323.43 S/. 13,872.38
3 S/. 57,787.14 S/. 6,658.74 S/. 13,872.38
4 S/. 43,914.76 S/. 4,994.06 S/. 13,872.38
5 S/. 30,042.38 S/. 3,329.37 S/. 13,872.38
TOTAL S/. 72,830.00
O: CAF SIPAN
PR ECIO POR KILO DEL CAFE PR
4 5 5
### S/. 13.00

4 S/. 1

MES PROYECTADO
### 300000
3 S/. 12.00
### S/. 3,900,000
2 S/. 11.50
S/. 2,928,620.00 S/. 3,900,000.00
1 S/. 11.00

S/. 10.00 S/. 10.50 S/. 11.00 S/. 11.50 S/. 12.00 S/. 12.50 S
SOLES POR KILO

Total ANUAL
S/. 60,000.00 Gastos de Comercializacin
S/. 120,000.00 Catalogos
S/. 36,000.00 Descargue y transporte
S/. 36,000.00 Visitas a Fabricas
Anuncios publicitarios
S/. 252,000.00

4 5

S/. 10,000.00 S/. 10,000.00


S/. 86,000.00 S/. 86,250.00

S/. 35,000.00 S/. 35,000.00

S/. 15,000.00 S/. 15,000.00


S/. 1,500.00 S/. 1,500.00
S/. 0.00 S/. 0.00
S/. 2,500.00 S/. 2,500.00
S/. 150,000.00 S/. 150,250.00
CUOTA
S/. 28,480.00
S/. 22,784.00
S/. 21,075.20
S/. 19,366.40
S/. 17,657.60

CUOTA
S/. 27,744.76
S/. 22,195.81
S/. 20,531.13
S/. 18,866.44
S/. 17,201.75
R KILO DEL CAFE PROCESA DO
S/. 13.00

S/. 12.70

S/. 12.00

S/. 11.50

1.00

S/. 11.50 S/. 12.00 S/. 12.50 S/. 13.00 S/. 13.50
SOLES POR KILO

S/. 1,500.00
S/. 5,000.00
S/. 2,500.00
S/. 1,000.00
S/. 10,000.00

COSTOS VARIABLES.

COSTOS VARIABLES.

UNIDADES PRECIO PRECIO TOTAL


RUBROS CANTIDAD
de medida ($.unit) ($)
LABORES DE
PROCESADOR

1. RECEPCION
PESADO/SECADO Kg 10000 S/. 6.37 ###

ESTIBADORES jornal 8 S/. 30 S/. 240.00


2. TRILLADO
TRILLA HRS. MAQ. 12 S/. 30 S/. 360.00
CLASIFICACION HRS. MAQ. 12 S/. 30 ###
3.ESCOGIDO

ESCOGER jornal 8 S/. 30 S/. 240.00

4.LABORATORIO
CONTROL DE CALIDAD jornal 1 S/. 100.00 S/. 100.00
CATADOR jornal 1 S/. 50.00 S/. 50.00
5.ALMACEN
PESADO/ENSACADO jornal 10 S/. 30.00 S/. 300.00
ALMACENERO jornal 1 S/. 50.00 S/50.00
5.Otros
Depreciaciones anual 1 S/. 523.00 ###

Movilidad/ combustible viajes 30 S/. 18.00 ###

6. INSUMOS
Caf verde kilos 194917 S/. 6.37 ###
sacos uindades 1200 S/. 0.50 ###
TOTAL DE COSTOS de
produccion S/. 1,309,523.60
COSTOS INDIRECTOS
Energia Electica kw 3 S/. 0.92 ###
Agua litros 3 S/. 0.92 ###
Gastos de mantenimiento jornal 1 S/. 100.00 S/. 100.00
Mano de obra indirecta jornal 3 S/. 5.50 ###
COSTOS TOTALES
Indirectos S/. 122.02
COSTOS TOTALES S/. 1,309,645.62
AOS

INGRESOS VENTAS

COSTOS
PRODUCCION
Mano de Obra
Costos de producion y trans
costos de equipos de transf
mantenimiento de los equip
depreciacion
pago de luz,agua, internet

UTILIDAD BRUTA

GASTOS OPERATIVOS
COMERCIALIZACION
ADMINISTRACION

UTILIDAD OPERATIVA
Gastos financieros

UTILIDAD (antes imp)


Impuestos (18%)

UTILIDAD DISPONIBLE

DEPRECIACION
depereciacion al 8%

DEPRECIACION
EQUIPOS
EQUIPOS DE OFICINA
EQUIPOS DE TRANSFORMAC
VALOR DE RESCATE OFICINA
VALOR DE RESCATE DE TRA
DEPRECIACION ANUAL
P Y G ECONOMICO

1 2 3 4

S/. 312,820.00 S/. 332,234.00 S/. 509,586.00 S/. 533,475.00

S/. 68,420.00 S/. 67,840.00 S/. 69,760.00 S/. 71,680.00


S/. 35,000.00 S/. 35,000.00 S/. 35,000.00 S/. 35,000.00
S/. 15,000.00 S/. 15,000.00 S/. 15,000.00 S/. 15,000.00
S/. 1,500.00 S/. 1,500.00 S/. 1,500.00 S/. 1,500.00
S/. 10,000.00 S/. 10,000.00 S/. 10,000.00 S/. 10,000.00
S/. 1,920.00 S/. 3,840.00 S/. 5,760.00 S/. 7,680.00
S/. 5,000.00 S/. 2,500.00 S/. 2,500.00 S/. 2,500.00

S/. 244,400.00 S/. 264,394.00 S/. 439,826.00 S/. 461,795.00

S/. 343,500.00 S/. 341,600.00 S/. 342,000.00 S/. 342,250.00


S/. 343,500.00 S/. 341,600.00 S/. 342,000.00 S/. 342,250.00
S/. 0.00 S/. 0.00 S/. 0.00 S/. 0.00

-S/. 99,100.00 -S/. 77,206.00 S/. 97,826.00 S/. 119,545.00


S/. 0.00 S/. 0.00 S/. 0.00 S/. 0.00

-S/. 99,100.00 -S/. 77,206.00 S/. 97,826.00 S/. 119,545.00


-S/. 17,838.00 -S/. 13,897.08 S/. 17,608.68 S/. 21,518.10

-S/. 116,938.00 -S/. 91,103.08 S/. 115,434.68 S/. 141,063.10

1 2 3 4

S/. 320.00 S/. 640.00 S/. 960.00 S/. 1,280.00


S/. 1,600.00 S/. 3,200.00 S/. 4,800.00 S/. 6,400.00
S/. 0.00 S/. 0.00 S/. 0.00 S/. 0.00
S/. 18,400.00 S/. 16,800.00 S/. 15,200.00 S/. 13,600.00
S/. 1,920.00 S/. 3,840.00 S/. 5,760.00 S/. 7,680.00
SERVICIO DE LA DEUDA
AGROBANCO ### INTERES

AOS SALDO DEUDOR INTERES

1 ### ###
2 ### ###
3 ### ###
4 ### ###
5 S/. 893.60 ###
TOTAL
5 AOS

S/. 556,890.00 INGRESOS

COSTOS
S/. 9,600.00 PRODUCCION
S/. 0.00 Mano de Obra
S/. 0.00 Costos de producion y t
S/. 0.00 costos de equipos de tr
S/. 0.00 mantenimiento de los e
S/. 9,600.00 depreciacion
S/. 0.00 pago de luz,agua, intern

S/. 547,290.00 UTILIDAD BRUTA

S/. 0.00 GASTOS OPERATIVOS


S/. 0.00 COMERCIALIZACION
S/. 0.00 ADMINISTRACION

S/. 547,290.00 UTILIDAD OPERATIVA


S/. 0.00 Gastos financieros

S/. 547,290.00 UTILIDAD (antes imp)


S/. 98,512.20 Impuestos (18%)

S/. 645,802.20 UTILIDAD DISPONIBLE

ESCUDO FISCAL

AHORRO TRIBUTARIO
5 ESTAS CIFRAS NOS SIGNIFICA EL AHORRO PARA PROYECTO

S/. 1,600.00
S/. 8,000.00
S/. 0.00
S/. 12,000.00
S/. 9,600.00
INTERES

AMORTIZACION CUOTA

### S/. 20,000.00


### S/. 18,500.00
### S/. 16,280.00
### S/. 14,326.40
### S/. 12,607.23
S/. 62,500.00
P Y G FINANCIERO

1 2 3 4 5

S/. 312,820.00 S/. 332,234.00 S/. 509,586.00 S/. 533,475.00 S/. 556,890.00

S/. 68,420.00 S/. 67,840.00 S/. 69,760.00 S/. 71,680.00 S/. 9,600.00
S/. 35,000.00 S/. 35,000.00 S/. 35,000.00 S/. 35,000.00 S/. 0.00
S/. 15,000.00 S/. 15,000.00 S/. 15,000.00 S/. 15,000.00 S/. 0.00
S/. 1,500.00 S/. 1,500.00 S/. 1,500.00 S/. 1,500.00 S/. 0.00
S/. 10,000.00 S/. 10,000.00 S/. 10,000.00 S/. 10,000.00 S/. 0.00
S/. 1,920.00 S/. 3,840.00 S/. 5,760.00 S/. 7,680.00 S/. 9,600.00
S/. 5,000.00 S/. 2,500.00 S/. 2,500.00 S/. 2,500.00 S/. 0.00

S/. 244,400.00 S/. 264,394.00 S/. 439,826.00 S/. 461,795.00 S/. 547,290.00

S/. 343,500.00 S/. 341,600.00 S/. 342,000.00 S/. 342,250.00 S/. 0.00
S/. 343,500.00 S/. 341,600.00 S/. 342,000.00 S/. 342,250.00 S/. 0.00
S/. 0.00 S/. 0.00 S/. 0.00 S/. 0.00 S/. 0.00

-S/. 99,100.00 -S/. 77,206.00 S/. 97,826.00 S/. 119,545.00 S/. 547,290.00
S/. 0.00 S/. 0.00 S/. 0.00 S/. 0.00 S/. 0.00

-S/. 99,100.00 -S/. 77,206.00 S/. 97,826.00 S/. 119,545.00 S/. 547,290.00
-S/. 17,838.00 -S/. 13,897.08 S/. 17,608.68 S/. 21,518.10 S/. 98,512.20

-S/. 116,938.00 -S/. 91,103.08 S/. 115,434.68 S/. 141,063.10 S/. 645,802.20

-S/. 35,676.00 -S/. 27,794.16 S/. 35,217.36 S/. 43,036.20 S/. 197,024.40
S NOS SIGNIFICA EL AHORRO PARA PROYECTO
EVALUADORES ECONO

AO 0
INVERCION INICIAL S/. 18,570,059.78
UTILIDAD
DEPRECIACION
TOTAL

LIQUIDACION
capital de trabajo

FLUJO ECONOMICO S/. 18,570,059.78

PERIODOS
0
1
2
3
4
5
TIR

PERIODOS
0
1
2
3
4
5
VANE

WACC
BENEFICION
VAN EXEL
CALCULO DE WACC

FUENTE DE FINANCIACION MONTO

CAPITAL ACCION S/. 163,500.00


DEUDA S/. 89,000.00
TOTAL S/. 252,500.00

CAPM=Costo de oportunidad de los inversionistas 20.456%


TIR MAYOR WACC SE ACEPTA EL PROYECTO
VAN=107,364.04 VAN ECONOMICO MAYOR A CERO

INFLACION DE TASA REAL


r= 9.72% tasa real sin inflacion
COSTO NETO DE LA DEUDA DESPUES DE IMPUESTOS
T=9.517

EVALUACION FINACIERA
CUADRO DE FINANCIAMIENTO NETO DEL PROYECTO

0
principal
amortizacion
interes
escudo tributario
servicio de deuda S/. 0.00

Cuadro del servicio de la deuda pero deduciendo los ahorros tributarios, sin inflacion

flujo economico -S/. 18,570,059.78


0
principal S/. 0.00
amortizacion
interes
escudo tributario
servicio de deuda S/. 0.00
flujo de caja finaciero -S/. 18,570,059.78
VANF S/. -18,732,662.44
TIRF -47.733%
RESTRICCION 86.4955138813
solve -47.733%
EVALUADORES ECONOMICOS

1 2 3 4 5

-S/. 116,938.00 -S/. 91,103.08 S/. 115,434.68 S/. 141,063.10 S/. 645,802.20
S/. 1,920.00 S/. 3,840.00 S/. 5,760.00 S/. 7,680.00 S/. 9,600.00
-S/. 115,018.00 -S/. 87,263.08 S/. 121,194.68 S/. 148,743.10 S/. 655,402.20

S/. 175,529.40

-S/. 115,018.00 -S/. 87,263.08 S/. 121,194.68 S/. 148,743.10 S/. 655,402.20

TASA DE DESCUENTO VAN

FLUJOS 0.00% S/. 3.00


-S/. 18,570,059.78 2.00% S/. 2.85
-S/. 115,018.00 4.00% S/. 2.70
-S/. 87,263.08 6.00% S/. 2.57
S/. 121,194.68 8.00% S/. 2.45
S/. 148,743.10 10.00% S/. 2.33
S/. 655,402.20 12.00% S/. 2.22
-47.42954% 14.00% S/. 2.12
16.00% S/. 2.02
FLUJOS 18.00% S/. 1.94
-S/. 18,570,059.78 20.00% S/. 1.85
-S/. 115,018.00 22.32% S/. 1.76
-S/. 87,263.08 24.00% S/. 1.70
S/. 121,194.68 26.00% S/. 1.63
S/. 148,743.10 28.00% S/. 1.56
S/. 655,402.20 30.00% S/. 1.50
S/. 2.22 32.00% S/. 1.44
34.00% S/. 1.39
16.929% 36.00% S/. 1.34
S/. 293,030.94
PROPORCION COSTO PARCIAL COSTO PONDERADO

65% 20.456 13.2457663366


35% 10.45 3.6833663366
100% 16.9291326733
16.929%

sionistas 20.456%
L PROYECTO
MICO MAYOR A CERO SE ACEPTA EL PROYECTO

EVALUACION FINACIERA
PROYECTO

1 2 3 4 5

-S/. 16,310.05 -S/. 14,351.35 S/. 0.00 S/. 0.00 S/. 0.00
-S/. 13,153.27 -S/. 12,813.70 -S/. 67,555.33 S/. 0.00 S/. 0.00
S/. 0.00 S/. 2,306.47 S/. 12,159.96 S/. 0.00 S/. 0.00
-S/. 29,463.32 -S/. 24,858.59 -S/. 55,395.37 S/. 0.00 S/. 0.00

uciendo los ahorros tributarios, sin inflacion a precios reales

-S/. 115,018.00 -S/. 87,263.08 S/. 121,194.68 S/. 148,743.10 S/. 655,402.20
1 2 3 4 5

-S/. 16,310.05 -S/. 14,351.35 S/. 0.00 S/. 0.00 S/. 0.00
-S/. 13,153.27 -S/. 12,813.70 -S/. 67,555.33 S/. 0.00 S/. 0.00
S/. 0.00 S/. 2,306.47 S/. 12,159.96 S/. 0.00 S/. 0.00
-S/. 29,463.32 -S/. 24,858.59 -S/. 55,395.37 S/. 0.00 S/. 0.00
-S/. 144,481.32 -S/. 112,121.67 S/. 65,799.31 S/. 148,743.10 S/. 655,402.20

valor inicial 0.8601818021 86.0181802072


Costo de oportunidad de los accionistas =

%
18.228% 118.228%
1.18228