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Project Profile of 200 TPD Jaggary Unit.

For

Manufacturing of Jaggary and Its Products Based On 200 MT Sugar Cane Crushing.

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Prepared for

Krantisinha Nana Patil Sahakari Shetimal Prakriya & Sheetgruha, Sanstha Maryadit., Kundal, Tal. Tasgaon, District -Sangli. (Maharashtra).

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Prepared by

Dr. V. K. Tiwari. (Ph D IIT -B) M/s Industrial Greenfields, Project Consultancy, 9/10, 2
nd

Floor, Empire Tower,

Dasara Chowk, Kolhapur, Maharashtra. Tel: 091 231 2641073, 2641871(O), 091 231 2630777, 631311(R), 9422046356 (M), Email: drvishwaskisan@gmail.com Date: - 18 February, 2011.
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Recommendations:As worked out elsewhere in this detailed project report, there is an excellent scope for setting up of a 200 TPD capacity Sugarcane processing plant at Kundal, Taluka-Tasgaon, District-Sangli in the Co-operative Sector to manufacture Jaggary, Invert Sugar and Medicinal Jaggary Syrup. Jaggary in the form of tablets will be the principal product. There is a growing market for chemical free Jaggary and its derived products from cane which is cultivated using organic manures. There will be a large availability of raw material from sugarcane farm for bio-digester. This being based on green farm waste, the quantity of methane produced is higher and the digested green material turns into very valuable organic manure which will be made rich in azatobactors helping to fix arial nitrogen in the soil. This will improve the quality of soil as well as the crop. Therefore our society will generate our own organic manure having rich bio-flora. Since every part of crop grown in the farm is being utilized for various day-today requirements, this project is a good example of sustainable farming activities. The technology for converting Sugarcane into useful value added products is indigenously available and will be provided by Industrial Greenfields Project Consultancy (IGPC). Sangli District being closer to Mumbai, it has a vast potential to supply Jaggary and its products. At present there is no co-operative unit of farmers manufacturing this commodity item which is a soul of Indian cuisine. This society will fill up this gap and pass on the incremental benefit to the sugar cane growing farmer members of society. This kind of activity manufacturing of various kinds of Jaggary items needs to be promoted in this region as there is large hectorage of land under cultivation of sugar cane. Now-a-day there is an increasing trend to go for fodder/vegetables growing in the vacant space measuring three sugarcane rows kept without cultivation between every six rows of sugarcane cultivation. This purposely left out space will be used for growing vegetables/fodder and day to day household requirements of condiments like ginger, garlic, coriander and tender salad vegetables such as onion, carrot, cucumber, lettuce, beet etc. This will provide farmers own cheap and fresh growing vegetables / fodder to cows and buffalos, thus helping already well-set dairy industry activity. During rainy season, this left out space can be used for growing paddy required for household purposes. This is possible due to high rainfall in these areas. This type of intercropping has proven financially beneficial to the farmers. Till today there was no organized effort in this direction. In Jaggary trade, there is a lot of exploitation by private Jaggary traders during manufacturing season of Jaggary due to the large arrivals of Jaggary in the markets. Therefore the farmers used to sale their produce at distressed prices during every harvesting and manufacturing season. To avoid this, cold storage facility for Jaggary and dried vegetables on large scale is required. This project will help to create such facilities and provide space to sale farmers agricultural produce to either marketing societies in co operative or in private sectors throughout year. The societies will also tie-up with marketing

co-operative societies in Mumbai, Pune, Ahmadabad and Gujarat to supply all products at reasonable market rates throughout the year. There are a very few cottage units manufacturing natural Jaggary without using any chemical additives. Therefore, such unit will be a step in the right direction. The dairy units in this region are doing financially very well and the co-operative network of dairy is well net. Large quantity of vegetable trash or fodders will be sold to dairy of this region and to units in neighboring districts. Thus this society can supply Jaggary Products and fodders to earn better price. This unit being in co-operative sector it will help farmers in Sangli district as well as adjoining district areas. Therefore, the present unit will be a pioneering venture in Sangli district to manufacture the above mention products of Sugarcane. This principal raw material is available in abundance in Tasgaon and adjoining Talukas in Sangli district. The farmer members of this society are enthusiastic to undertake cultivation of improved varieties of Sugarcane like Co-671 variety which will suit to the environmental conditions prevailing in this region to enhance the productivity and consequently better earnings in addition to the income from inter crops. Looking at the present scenario in the World market when India has signed GATT and entered in WTO, export has become imperative for survival of agricultural economy. In this context, the concept of sustainable organic farming has become the need of this hour. The commodities manufactured in the present unit are all exportable. Therefore this proposal is found to be socially desirable and commercially very attractive. It will be the first plant of its kind in the co-operative sector wherein organic farming of Sugarcane is being promoted and an example of sustained farming is encouraged. Now there is a need to start second Green Revolution by setting up such kind of units. This project implementation will benefit the farmers immensely. It will provide necessary fillip to the agricultural rural economy in rural sector in general. It will also promote the food-processing unit based on products and by products in this region, which is the professed policy of the State and Central Governments of India. In view of the above, Industrial Greenfields Project Consultancy (IGPC) strongly recommends that this proposal be granted a financial support by the State and Central Government and the Commercial and Nationalized and Co-operative Financial Institutions.

Project Profile of Jaggary Project


1.1 Name of Firm : Krantisinha Nana Patil Sahakari Shetimal Prakriya and Sheetgruha, Sanstha Maryadit., Kundal, Taluka-Tasgaon, District -Sangli. (Maharashtra).

1. 2

Constitution and Type :

Co-op. Society.

1.3

Product Mix

1. Jaggary 2. Chikkey Jaggary 3. Jaggary Syrup 4. Invert Sugar 5. Dried Vegetable / Fresh Vegetables 6. Bio-fertilizer 7. Biogas

1.4

Installed Capacity

1) Sugarcane Crushing 200 TPD 2) Dried vegetables 1 TPD

1.5

Capacity Utilization

70% in the 1st Year to 80% From 4 year onwards.


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1.6

Project Cost:-

Table: 1.6 IGPC-Dr. V.K. Tiwari Sr No 1) 2) 3) 4) 5) 6) 7) Description of Items Land and Site Development Building and Civil Works Indigenous Plant & Machinery Misc. Fixed Assets Preliminary & Pre-operative Expenses Contingencies Margin Money on Working Capital Total Project Cost:SAY 8) (A) 8.1) Financing Pattern Share Capital - @ 40% Society's Contribution @ 10% Contribution from State & NCDC @30% (B) 9) Long Term Loan for Financial Institution Long Term Loan - @ 60% Total:-

Annexure No. 2 Rs in lac Project Cost 19.70 168.3 216.6 169.5 49.0 32.0 45.0 700.0 700.0 Per Cent 3 24 31 24 7 5 6 100

280.0 70.0 210.0

420.0 700.0

231

1.7

Basis of Assumption and Market Prices for Estimation of Profitability :


Annexure No. 1 Basis of Assumption And Market Prices For Estimation of Profitability

Table : 1.7

IGPC-Dr. V.K. Tiwari Sr No 1.1) 1.2) 1.3) 1.4) 1.5) 1.6) 1.7) 1.8) 2) Description of Items Cane Crushing Capacity of Project Per Day Total Jaggary Production Per Day Chikkey Jaggary Production Per Day Jaggary Syrup Production Per Day Invert Sugar Production Per Day Dried Vegetables Production Per Day Bio Fertilizer Production Per Day Bio Gas CM, Production Per Day TPD MT 200 25.5 2.0 0.5 0.5 1.0 3.5 500 70% 25200 3213 252 63 63 256 894 127750 100% Capacity Utilization 80% 28800 3672 288 72 72 292 1022 146000 90% 32400 4131 324 81 81 329 1150 164250 100% 36000 4590 360 90 90 365 1278 182500

Wages and Salaries : Annual increments '@ 5% provided, Staff strength assumed static Irrespective of capacity Utilization and 10% for Staff Welfare.

3) Sr No 3.1) 3.2) 3.3) 3.4) 3.5) 3.6) 3.7) 3.8) 3.9) 3.10) 3.11) 3.12) 3.13) 3.14) 3.15) 3.16) 3.17) Input / Outputs

Raw Material Cost, Products and By-Product Sale Prices : Raw Material Price Maximum 1400 2500 14500 16000 22000 12000 19000 4000 12.0 450 4500 79500 28000 6500 14000 28000 120000 Minimum 1200 4500 16500 17000 28000 16000 21000 5000 18.0 550 5500 80500 32000 8500 16000 32000 130000 Average 1300 3500 15500 16500 25000 14000 20000 4500 15.0 500.0 5000 80000 30000 7500 15000 30000 125000 Maximum 1300 2000 24000 28000 34000 27500 44500 4500 15.5 550 4000 70000 25000 6000 13500 25000 120000 Market Price Minimum 1200 4000 26000 32000 36000 28500 45500 5500 18.5 650 5000 80000 30000 8000 16000 30000 125000 Average 1250 3000 25000 30000 35000 28000 45000 5000 17.0 600 4500 75000 27500 7000 14750 27500 122500

Sugar Cane Vegetables Jaggary Chikkey Jaggary Jaggary Syrup Invert Sugar Dried Vegetables Bio Fertilizer Bio Gas Chemicals Sulfur-rolls Carbon (Act) Filter Aid HCl Soda Ash Na- M-Bisulfite Resin-IE

1.8

Salient Features and Performance Indicators:

Salient Features of Project Outlay- Rs 700/- lac No 1) 2) 3) 4) 5) 6) Description of Items Project Equity : 40% & Loan : 60% Debt Equity Ratio:- 1 : 1.5 Project Out-lay Rs 700 /- Rs in lac Utilities Job Opportunities Water Skilled Equity :Society + GOM Society-40% 280 50 K Liter 93 Bank Loan Bank,@ 60% 420 Power Unskilled Value Interest Rate, % P A On Loan 12 152 - HP 37 Office Staff 27 On WC 14

Pay-Back Period

1 year Moratorium + 7 years

1.9

Performance Indicators

(A) (B)

Net Present Value, at the end of 8 year Benefit Cost Ratio Earning Before /After Depreciation, Interest & Tax

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242 0.35 EADIT 3.32 31.51 70% 56.8 1st Yr 1.84 95 80% 20.3 8th Yr 421.69 1497

(C) (D) (E)

Debt Service Coverage Ratio-(Average DSCR) Internal Rate of Return (IRR) Break Even Percentage Calculation at Capacity Utilization Break Even Point ( BEP-%) Year Wise Profit Before Tax

(F) (G) (H)

Profit Before Tax, Rs in lac Cumulative Cash Flow, Rs in lac

Expected period for completion of the project : 8 to 10 months depending upon Availability of finance and completion of Building and Civil works.

1.10
Table : 1.9

Sensitivity Analysis of the Project:Annexure 24 (Rs in lac) At 70% Cap. Utilization PBT Cash Accruals Basic Ratio of the Project @70% 21.41 100.40 Avg. DSCR EADIT 1.94 EBDIT 2.51 EADIT 23.56 IRR EBDIT 30.89 Break Even Point 70% 52.37 75% 42.82 80% 27.10

IGPC-Dr. V.K. Tiwari Sr No Parameters of Sensitivity

Sensitivity Analysis of the Project 1) A) When Increased by 2.5% B) When Decreased by 2.5% 2) A) When Increased by 2.5% B) When Decreased by 2.5% 3) A) When Increased by 2.5% B) When Decreased by 2.5% 4) R.M. Cost Increased by 2.5% and Finished Product Cost Decreased by 2.5% 29.8 6.03 12.87 23.00 16.36 19.51 Project Cost 97.34 99.27 1.89 1.98 2.44 2.57 22.77 24.22 29.89 31.64 53.74 52.81 43.97 43.12 27.20 26.70

Raw Material Cost 95.19 101.42 1.90 1.97 2.45 2.56 22.93 24.02 29.95 31.55 54.64 51.98 44.65 42.50 27.5 26.5

Finished Product Cost 105.6 90.98 2.02 1.84 2.65 2.35 24.86 22.08 32.76 28.72 50.30 56.63 41.15 42.24 25.7 28.4

Combine effect of Finished Product 0.96 87.87 1.81 2.30 21.53 27.91 58.16 47.48 28.90

1.11

Important Financial Ratios:


Annexure No. 25

Table : 1.10 IGPC-Dr. V.K. Tiwari No 1) Name of the Ratio Pay Back Period (PBP) (Original Investment/Avg. Annual Income) 2) Return on Investment (Avg. Annual Earnings After Tax / Avg. Book Investment After Depr.) 3) Net Present Value (EADIT)- (Rs in lac) (Net Cash Flow for 8 years with Salvage Value - Original Capital Investment) 4) Internal Rate of Return - Discount Rate (Discount Rate at which the Net Present Value Becomes Zero) 5) Benefit Cost Ratio (Aggregate Net Present Value / Initial Capital Investment)

Ratio 6.21

67.5

1812

27.95

2.59

1.12

Conclusions: On the basis of above-mentioned detail financial analysis it is recommended that the proposed project is commercially viable and technically feasible. This is an agro-based industry and its implementation will immensely benefit the sugar cane growing marginal farmer members of this co-operative society.

1.13

Implementation Schedule:

Starting Point: Loan Sanction and Commencement of Loan Disbursal No 1) 2) 3) 4) Items to be executed Acquisition of land Development of Land. Civil Works Plant and Machinery:a) placement of order b) Delivery at site. 5) 6) 7) 8) 9) 10) 11) 12) Note: 1) 2) Most of these activities will be overlapping Overall Time Implementation will be about 8-10 months from Commencement of loan disbursement. Arrangements for power Arrangements for water Erection of Equipment Commissioning Procurement of R/M and Chemicals Training of Personnel Trial Runs Commercial Production Acquired Done Cold Storage Started Yet to begin - 3 months - 4 to 6 months Assurance letter obtained - 2 Months Scheme is being Implemented - 4 Months - 2 Months - 1 Months - 15 days - 1 Months - 15 days - After 8 to 10 Months Time Required

Dr. V. K. Tiwari. Industrial Greenfields Project Consultancy, (IGPC-Maharashtra-India).

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