Units in Sq Yard

Building Rent 1,000

Stock for Medical Store Required Units

Ceftec 200 60
nandro 50 30
amox clave 625 mg 80
ciplox 500 50
Nimic 250 60
ofloxclin 200 80
livoflox 30
revum DSR 90
pentadon 90
nerobion 80
nero citrazen 77
ACEMR tab 90
ACESP tab 80
VOMINATab 85
Disprine Tab 170
Polivion 20
vovern 120
citrazen 270
dispovan 300
Gavanil 40
Adolition D/O 200
Adolition strong 200
ofloxclin 200 290
Prega news 110
noglisg 25
ciplox 500 60
Nimic 250 30
ofloxclin 200 80
livoflox 50
revum DSR 60
pentadon 80
nerobion 30
nero citrazen 90
ACEMR tab 90
ACESP tab 80
VOMINATab 77
Disprine Tab 90
Polivion 80
vovern 85
citrazen 170
dispovan 20
 Gavanil 120
Adolition D/O 270
Adolition strong 300
ofloxclin 200 40
livoflox 200
revum DSR 200
citrazen 270

Furniture & Fixtures Requirement

Refrigerator 1
Gluco meter and BP apparatus 1
Wall Mounted Fans 4
Chairs 4
Racks on Side Walls 3
Racks on Mid of Shop 2
Cash Counter 1
Glass Frame at Front 1
Sign Board 1
Air conditioners (1.5 ton window) 2

Office Equipment Requirment

Computer 2
Software 1
Printer 1
Scanner 1
Telephones 2
UPS 1

Human Resource Requirements

owner 1
account officers 1
pharmacist 1
cashier 2
Security Guard 1

Animal Description 1st year

Furniture & Fixtures Requirement 61150
Cost Per Unit Amount
150 150,000

Cost Per Unit

980 58,800
890 26,700
1125 90,000
600 30,000
370 22,200
290 23,200
680 20,400
560 50,400
400 36,000
660 52,800
580 44,660
800 72,000
400 32,000
250 21,250
90 15,300
400 8,000
250 30,000
150 40,500
90 27,000
1100 44,000
60 12,000
120 24,000
90 26,100
70 7,700
220 5,500
980 58,800
890 26,700
1125 90,000
600 30,000
370 22,200
290 23,200
680 20,400
560 50,400
400 36,000
660 52,800
580 44,660
800 72,000
400 32,000
250 21,250
90 15,300
400 8,000
 250 30,000
150 40,500
90 27,000
1100 44,000
60 12,000
120 24,000
150 40,500
1,642,220

45,000 45,000
15,000 15,000
4,000 16,000
3,000 12,000
150,000 450,000
75,000 150,000
50,000 50,000
100,000 100,000
25,000 25,000
50,000 100,000
963,000

40,000 80,000
100,000 100,000
15,000 15,000
10,000 10,000
2,500 5,000
50,000 50,000
260,000
Per Month Salary 1 Year Salary
40,000 480,000
20,000 240,000
35,000 420,000
16,000 384,000
14,000 168,000
125,000 1,692,000
Production in Units
Description No. of Units Year 1 No. of Units Year 2
Lactating Cows 26 22
Female Calves 13 11
Male Calves 13 11
Heifers(Female calves older than one year) 0 13
Total Animals In Farm at the End of Year 39 46
Yearly Number of Culling Cows 4 3
Aged Cows Sold Yearly 0 -

Assumptions
Daily Production 35
Annual Operation Days 305
Efficiency 70%

Revenue Assumptions Year 1

Total Milk Production 194,285
Selling Price Milk Rate per Litre 75
Total Milk Revenue 14,571,375
Selling Price of Male Calf 15,000
Sale of Male Calves 195,000
Selling Price of Adult Culling Cow 250,000
Sale of Adult Culling Cow 1,000,000
Selling Price of Adult Aged Cow 80,000
Sale of Adult Aged Cow -
Total Revenue 15,766,375
Revenue Year 1
Total Milk Production 194285
Milk Rate per Litre 65
Total Milk Revenue 12628525
Selling Price of Male Calf 15000
Sale of Male Calves 195000
Selling Price of Adult Culling Cow 250000
Sale of Adult Culling Cow 975000
Selling Price of Adult Aged Cow 80000
Sale of Adult Aged Cow 0
Total Revenue 13798525
No. of Units Year 3 No. of Units Year 4 No. of Units Year 5 No. of Units Year 6
32 38 48 49
16 19 24 24
16 19 24 24
11 16 19 24
59 73 91 97
5 6 7 7
0 - 14 -

Year 2 Year 3 Year 4 Year 5

164,395 239,120 283,955 358,680
83 91 100 110
13,562,588 21,700,140 28,345,808 39,385,754
15,750 16,538 17,364 18,233
173,250 264,600 329,923 437,582
262,500 275,625 289,406 303,877
787,500 1,378,125 1,736,438 2,127,136
84,000 88,200 92,610 97,241
- - - 1,319,764
14,523,338 23,342,865 30,412,169 43,270,236
Year 2 Year 3 Year 4 Year 5
165142.25 237513.4125 284457.525625 360545.60303125
71.5 78.65 86.515 95.1665
11807670.875 18680429.893125 24609842.8294469 34311863.1308734
15750 16537.5 17364.375 18232.59375
174037.5 262822.21875 330507.002109375 439858.247468555
262500 275625 289406.25 303876.5625
870187.5 1314111.09375 1652535.01054687 2199291.23734277
84000 88200 92610 97240.5
0 0 0 1319763.86758125
12851895.875 20257363.205625 26592884.8421031 38270776.483266
No. of Units Year 7 No. of Units Year 8 No. of Units Year 9 No. of Units Year 10
65 74 91 107
33 37 45 54
33 37 45 54
24 33 37 45
122 144 173 206
10 17 14 16
7 6 8 10

Year 6 Year 7 Year 8 Year 9

366,153 485,713 552,965 679,998
121 133 146 161
44,226,920 64,535,199 80,817,926 109,322,627
19,144 20,101 21,107 22,162
459,461 663,347 780,941 997,282
319,070 335,024 351,775 369,364
2,233,493 3,350,239 5,980,177 5,171,094
102,103 107,208 112,568 118,196
- 727,520 649,311 980,556
46,919,874 69,276,305 88,228,355 116,471,560
Year 6 Year 7 Year 8 Year 9
362487.23875 488386.954453125 553269.887340625 677835.634644492
104.68315 115.151465 126.6666115 139.33327265
37946305.9871521 56238473.2921656 70080821.8744237 94445057.2938068
19144.2234375 20101.434609375 21106.5063398438 22161.8316568359
464338.353420703 656893.839345018 781371.320495118 1005157.52599503
319070.390625 335023.91015625 351775.105664062 369363.860947266
2321691.76710351 3284469.19672509 5935954.8839247 5025787.62997517
102102.525 107207.65125 112568.0338125 118196.435503125
0 727519.832004164 649311.450063716 980555.776574162
40732336.1076763 60907356.1602399 77447459.5289073 101456558.226351
Year 10
799,558
177
141,398,607
23,270
1,256,576
387,832
6,205,313
124,106
1,233,079
150,093,575
Year 10
800102.25166
153.26659992
122628951.7
23269.92324
1245789.092
387832.05399
6228945.46
124106.25728
1233078.9674
131336765.22
COGS
Description No.of Animals COGS YEAR 1 No. of Animals
Lactating Cows 26 6,975,150 22
Female Calves 13 1,154,790 11
Heifers(Female calves older than one year) - - 13
Total Ration 39 8,129,940 46

Vaccination Cost Year 1

Vaccination and Medication 1,000 39,000
Artifical Insemination 5,000 195,000
6,000 234,000
468,000

Utilities Monthly Yearly

Electricity 120,000 1,440,000
Fuel cost for generator 42,600 511,200
Machinery Maintenance 10,000 120,000
Travel 10,000 120,000
Communication 5,000 60,000
Office Supplies 2,000 24,000
189,600 2,275,200

Salaries No. of Employees Monthly Salary Annual Salary

Farm Manager 1 50,000 600,000
Farm Supervisor 2 25,000 600,000
Farm Labour 6 15,000 1,080,000
Security Guard 3 15,000 540,000
12 105,000 2,820,000
COGS YEAR 2 No. of Animals Year 3 COGS YEAR 3 No. of Animals Year 4 COGS YEAR 4
5,928,878 32 8,527,121 38 10,212,491
981,572 16 1,411,731 19 1,690,757
2,348,775 11 1,996,459 16 2,871,377
9,259,224 59 11,935,310 73 14,774,626

Cost Year 2 Cost Year 3 Cost Year 4 Cost Year 5 Cost Year 6
46,150 58,728 72,993 91,408 96,889
230,750 293,638 364,967 457,041 484,445
276,900 352,365 437,960 548,449 581,334
553,800 704,730 875,921 1,096,897 1,162,669
No. of Animals Year 5 COGS YEAR 5 No. of Animals Year 6 COGS YEAR 6 No. of Animals Year 7
48 12,944,178 49 13,013,886 65
24 2,143,009 24 2,154,549 33
19 3,438,900 24 4,358,754 24
91 18,526,087 97 19,527,189 122

Cost Year 7 Cost Year 8 Cost Year 9 Cost Year 10

122,292 143,740 173,086 205,965
611,458 718,701 865,432 1,029,823
733,750 862,441 1,038,519 1,235,788
1,467,499 1,724,882 2,077,037 2,471,576
COGS YEAR 7 No. of Animals Year 8 COGS YEAR 8 No. of Animals Year 9 COGS YEAR 9
17,533,892 74 19,863,296 91 24,335,410
2,902,871 37 3,288,522 45 4,028,915
4,382,227 33 5,904,270 37 6,688,661
24,818,991 144 29,056,088 173 35,052,987
No. of Animals Year 10 COGS YEAR 10
107 28,724,982
54 4,755,643
45 8,194,577
206 41,675,202
Depreciable Assets Installed Cost of Each Asset Depreciable Life

Building and Infrastructure

Shed for Wet Cows 16,000,000 10
Open Paddock for Wet Cows 320,000 10
Shed for Dry Cows 8,000,000 10
Open Paddock for Dry Cows 320,000 10
Shed for Calves 4,000,000 10
Open Paddock for Calves 160,000 10
Stores (fodder, concentrate & machine 560,000 10
Room (Chillers, utensils & milk storage) 288,000 10
Silage Bunker 2,500,000 10
Residence (Manager) 288,000 10
Admin & Accounts Offices 360,000 10
Washrooms Excecutives 72,000 10
Rooms for Workers 480,000 10
Washrooms Workers 76,800 10
Total Building and Infrastructure
Machinery & Equipment
Calf feeders (New Born Calves) 48,000 10
Calf Cages 255,000 10
Cooling System 1,500,000 10
Water Turbine 700,000 10
Milking Line 1,800,000 10
Generator 50 KVA 2,000,000 10
Milk Chiller (5000 Litres Capacity) 1,600,000 10
Milk Testing Machines 40,000 10
Velocity Meter 3,000 10
Surgery Kit 20,000 10
AI Equipment 100,000 10
Dystocia Kit 40,000 10
Energy Savers 8,000 10
Miscelleneous 100,000 10

Office Vehicle
Mehran VXR Car for Manager 900,000 10
Honda CD 70 Bikes 308,000 10
Suzuki Ravi Pick Up 816,000 10

Furniture & Fixtures Requirement

Tables 40,000 10
Chairs 24,000 10
Fans 32,000 10
Energy Savers 4,800 10
Miscelleneous Furniture for Workers 100,000 10
Air Condition 160,000 10

Office Equipment Requirement

Computer 240,000 5
Cell Phone 60,000 5
Landline 5,000 5

Total Yearly Depreciation Expense Year 1 to 5

Total YearlyDepreciation Expense Year 6 to 7
Depreciation Expense per Year

1,600,000
32,000
800,000
32,000
400,000
16,000
56,000
28,800
250,000
28,800
36,000
7,200
48,000
7,680

4,800
25,500
150,000
70,000
180,000
200,000
160,000
4,000
300
2,000
10,000
4,000
800
10,000

90,000
30,800
81,600

4,000
 2,400
3,200
480
10,000
16,000

48,000
12,000
1,000

4,463,360
4,402,360
Initial Investment
Capital Cost
Land
Building and Infrastructure
Machinery & Equipment
Cows
Furniture and Fixture
Office Equipment
Office Vehicle
Total Capital Expense

Working Capital
Raw Material Inventory
Cash
Total Working Capital Required

Total Initial Investment

Year 1
Revenue 15,766,375
COGS
Feed 8,129,940
Vaccination 468,000
Total COGS 8,597,940
Operating Profit 7,168,435
Operating Expenses
Salaries 2,820,000
Electricity 1,440,000
Fuel cost for generator 562,320
Machinery Maintenance 120,000
Travel 120,000
Communication 60,000
Office Supplies 24,000
Total Operating Expenses 5,146,320
EBDIT 2,022,115
Depreciation 4,463,360
EBIT (2,441,245)
Tax (Exempted by the Gov. of Pakistan in Dairy Industry, still we are considering 30%) 732,374
NOPAT (1,708,872)
Depreciation Add Back 4,463,360
OCF 2,754,489
Amount

6,000,000
33,424,800
8,214,000
10,400,000
360,800
305,000
2,024,000
60,728,600

1,232,010 (one month of feed + one vaccination)

294,600 (One month of operating expenses)
1,526,610

62,255,210

Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8

14,523,338 23,342,865 30,412,169 43,270,236 46,919,874 69,276,305 88,228,355

9,259,224 11,935,310 14,774,626 18,526,087 19,527,189 24,818,991 29,056,088

553,800 704,730 875,921 1,096,897 1,162,669 1,467,499 1,724,882
9,813,024 12,640,040 15,650,546 19,622,985 20,689,858 26,286,490 30,780,970
4,710,314 10,702,825 14,761,622 23,647,252 26,230,015 42,989,815 57,447,385

3,102,000 3,412,200 3,753,420 4,128,762 4,541,638 4,995,802 5,495,382

1,584,000 1,584,000 1,584,000 1,584,000 1,584,000 1,584,000 1,584,000
562,320 562,320 562,320 562,320 562,320 562,320 562,320
120,000 120,000 120,000 120,000 120,000 120,000 120,000
120,000 120,000 120,000 120,000 120,000 120,000 120,000
60,000 60,000 60,000 60,000 60,000 60,000 60,000
24,000 24,000 24,000 24,000 24,000 24,000 24,000
5,572,320 5,882,520 6,223,740 6,599,082 7,011,958 7,466,122 7,965,702
(862,007) 4,820,305 8,537,882 17,048,170 19,218,057 35,523,693 49,481,683
4,463,360 4,463,360 4,463,360 4,463,360 4,402,360 4,402,360 4,402,360
(5,325,367) 356,945 4,074,522 12,584,810 14,815,697 31,121,333 45,079,323
1,597,610 (107,083) (1,222,357) (3,775,443) (4,444,709) (9,336,400) (13,523,797)
(3,727,757) 249,861 2,852,166 8,809,367 10,370,988 21,784,933 31,555,526
4,463,360 4,463,360 4,463,360 4,463,360 4,402,360 4,402,360 4,402,360
735,603 4,713,221 7,315,526 13,272,727 14,773,348 26,187,293 35,957,886
Year 9 Year 10
116,471,560 150,093,575

35,052,987 41,675,202
2,077,037 2,471,576
37,130,024 44,146,779
79,341,536 105,946,796

6,044,920 6,649,412
1,584,000 1,584,000
562,320 562,320
120,000 120,000
120,000 120,000
60,000 60,000
24,000 24,000
8,515,240 9,119,732
70,826,295 96,827,064
4,402,360 4,402,360
66,423,935 92,424,704
(19,927,181) (27,727,411)
46,496,755 64,697,292
4,402,360 4,402,360
50,899,115 69,099,652
 Remaining
n OCF Acc OCF Investment to be
recovered

Year 0 - (62,255,210)
Year 1 1 2,754,489 2,754,489 (59,500,722)
Year 2 2 735,603 3,490,092 (58,765,118)
Year 3 3 4,713,221 8,203,313 (54,051,897)
Year 4 4 7,315,526 15,518,839 (46,736,371)
Year 5 5 13,272,727 28,791,565 (33,463,645)
Year 6 6 14,773,348 43,564,913 (18,690,297)
Year 7 7 26,187,293 69,752,207 7,496,997
Year 8 8 35,957,886 105,710,093 43,454,883
Year 9 9 50,899,115 156,609,208 94,353,998
Year 10 10 69,099,652 225,708,860 163,453,650

Discount Rate 10%

Payback Period 6.27

Discounted Payback Period 8.70
NPV (17,840,257)
IRR 18.26%
 Remaining
Discounted CF Acc DCF Investment to be
recovered

(62,255,210)
2,504,080 2,504,080 (59,751,130)
607,937 3,112,017 (59,143,193)
3,541,113 6,653,130 (55,602,080)
4,996,602 11,649,732 (50,605,478)
8,241,319 19,891,051 (42,364,159)
8,339,170 28,230,221 (34,024,989)
13,438,222 41,668,443 (20,586,767)
16,774,619 58,443,063 (3,812,147)
21,586,193 80,029,256 17,774,046
26,640,907 106,670,163 44,414,953
44,414,953
 n OCF

Interest Rate 8% 10% 12%

Year 0 0 (62,255,210) (62,255,210) (62,255,210) (62,255,210)
Year 1 1 2,754,489 2,550,452 2,504,080 2,459,365
Year 2 2 735,603 630,661 607,937 586,419
Year 3 3 4,713,221 3,741,507 3,541,113 3,354,778
Year 4 4 7,315,526 5,377,130 4,996,602 4,649,149
Year 5 5 13,272,727 9,033,195 8,241,319 7,531,302
Year 6 6 14,773,348 9,309,715 8,339,170 7,484,638
Year 7 7 26,187,293 15,280,034 13,438,222 11,845,802
Year 8 8 35,957,886 19,426,927 16,774,619 14,522,787
Year 9 9 50,899,115 25,462,230 21,586,193 18,354,731
Year 10 10 69,099,652 32,006,509 26,640,907 22,248,239
NPV 60,563,150 44,414,953 30,781,998

Net Present V
80,000,000

60,000,000

40,000,000

20,000,000

-
8% 10% 12% 14% 16%

(20,000,000)

(40,000,000)
 14% 16% 18% 20% 22% 24%
(62,255,210) (62,255,210) (62,255,210) (62,255,210) (62,255,210) (62,255,210)
2,416,218 2,374,559 2,334,312 2,295,407 2,257,777 2,221,362
566,023 546,673 528,299 510,836 494,224 478,410
3,181,290 3,019,561 2,868,612 2,727,559 2,595,603 2,472,024
4,331,378 4,040,300 3,773,267 3,527,935 3,302,222 3,094,274
6,893,438 6,319,318 5,801,631 5,334,011 4,910,899 4,527,430
6,730,539 6,063,606 5,472,514 4,947,564 4,480,433 4,063,954
10,465,420 9,265,838 8,220,847 7,308,393 6,509,862 5,809,501
12,605,363 10,968,071 9,566,170 8,362,655 7,326,820 6,433,105
15,651,882 13,384,074 11,475,514 9,864,589 8,501,034 7,343,702
18,639,203 15,663,758 13,202,488 11,159,980 9,459,704 8,040,055
19,225,544 9,390,548 988,445 (6,216,281) (12,416,632) (17,771,392)

Net Present Value Profiling

12% 14% 16% 18% 20% 22% 24% 26% 28%

 -

26% 28% 30%

(62,255,210) (62,255,210) (62,255,210)
2,186,102 2,151,944 2,118,837
463,343 448,977 435,268
2,356,168 2,247,439 2,145,299
2,902,441 2,725,246 2,561,369
4,179,337 3,862,872 3,574,731
3,691,949 3,359,070 3,060,686
5,193,938 4,651,798 4,173,372
5,660,174 4,990,159 4,408,058
6,358,802 5,518,493 4,799,766
6,851,259 5,852,968 5,012,361
(22,411,696) (26,446,244) (29,965,462)

26% 28%