samridhi presentation for intellecap
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Samridhi Agri
Products Pvt. Ltd.
Lokesh Kumar Singh
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Executive Summary
About Samridhi runs a dairy venture that creates livelihood solutions for
Ultra Poor Families (< $1.25 / day) Outreach: 200 Members in 13 villages in Barabanki District, Lucknow
Incorporated as a Pvt. Ltd. since 2010
What is unique about your
product / service (at least
one feature)
Unique concept and delivery
Providing cattle to those who can not afford it
Use of local resources and skill development of villagers
Holistic approach to livelihood enhancement
Funding Requirement INR 3 cr over 3 years
Utilization of Investment INR 1.15 cr for assets for chilling
INR 1.85 cr for procurement of livestock
Funds Raised Till Date Total of INR 64.62 lakhs have been infused
INR 28.62 lakhs promoters equity, INR 31 lakhs FDI, INR 5 lakhs loans Management Team Extensive experience of over 70 years with target clientele through
Agri, Dairy, IT, Microfinance, rural Retail backgrounds
Extensive experience in U.P.
Distinguished Board of Directors with diverse backgrounds
Exit Possibilities Further rounds of investment from VC / PE
M&A with another rural supply chain company or large dairy producer Buy back after organic growth of 3-5 years
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Mission and Vision
Mission:To increase the productive capacity of the
rural producers by providing sustainable
small scale business solutions in a socially
responsible manner
Vision:
To create livelihood solutions for 1,00,000
families across over 1000 villages and
creating 20,000 direct jobs by the year 2017
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Market Opportunity
District RuralPopulation
MarginalFarmers
AgriLaborers
Sitapur 3,944,454 2,040,347 1,073,867
Barabanki 2,927,736 1,485,640 781,915
Lucknow 1,550,737 189,279 58,384
Total 3,715,266 1,914,166
Target Segment Economic Indicators
and Gaps to be filled
Proposed Solution
Landless laborers
Marginal farmers
with low land
activity
No skills
No productive assets
PPI of less than 18
Land size less than 1 acre
No forward linkages
No access to farm equipment
Milk production and livestock
ownership as a livelihood option
Agriculture credit with
moratorium on payments
Equipment on rent
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Pain Points and Intervention Required
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Pain Points and Intervention Required
Pain Points inService
SamridhisApproach
Milk production:
Marginal farming:
Infusion of patient capital
Holistic approach
Asset on micro-leasing
Information Dissemination on
best practices
Regularity of payment
Arrangement for fair price
discovery of final produce
Irregularincomes
Borrowingat high cost
High
cashOutflow
LowerSurplus
Lowresources
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Packaged Services Offered
De-worming and Vaccination
Artificial Insemination
Cattle Feed at the Doorstep
Para Vet Services
Localized Solutions
Use of local resources
Skill development of villagers
Holistic Approach
Access to assets
Skills
Inputs
Marketing of produce
USP: Uniqueness of Concept and Delivery
SurveysConducted /
Clients Targeted
Cattle (one cow /three goats) given
to Client
Milk generatedshared between
Samridhi andClient
After 3 years,cattle offspring
owned bycompany. Originalowned by Client
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Business Model
Surveys conductedand clients shortlisted
Cattle bought andreared at Samridhisfarm for 2 weeks
Cattle de-wormed and
vaccinated Cattle productivity
checked to meet theminimum requirement
Clients brought to thefarm and assigned thecattle (1 cow, or 3goats)
Client identificationand livestockdistribution
Milk generated
thereafter,poured at theCompanys Dairy
Centre
Fixed Wages ofINR 600/monthOR one bag ofcattle feed paid
to rearer
Milk production
Original livestockkept by client
Offspring handedback to Samridhi:
Goats: 1 femalekid per goat per
year handed back Cows: 2 she-calves after 3years handedback
Livestockownership by
client
Sale of Milk
To ensure cattle
productivity and
health
To incentivize client to take
care of original cattle and
maintain liability with the
client
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Highly Profitable for Client and Samridhi
Cattle Owner
Non-Member
Cattle Rearer
Member
Revenue Stream Clients Profit Samridhis Profit
Margin from milk 1000L @ INR 21/L
21,000
1000L @ INR 3/L
INR 3,000
Margin from feed INR 20/bag INR 10/bag
Margin from vet services INR 100/visit -
Revenue Stream Clients
Profit/Savings
Samridhis Profit
Margin from
fixed amount of milk
- 556.5L @ INR 23/L
INR 12,800
Margin from
additional milk
556.5L @ INR 20/L
INR 11,130
556.5L @ INR 3/L
INR 1,670
Margin from
sale of goat calves
Rs. 20,000 -
Margin from feed INR 20/bag INR 10/bag
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Current Status of Operations
First piloted the model in April 2010 at Deva Block of Barabanki District in U.P
Barabanki: Marked as A category district with social and economic performance below theNational Average
Deva: Rural block with agriculture and animal husbandry as main activity
Currently have about 200 members
Families reached out to: Cow Beneficiaries: 23, Goat Beneficiaries: 18
Distribution Tied up with Swades Milk Products
Cows owned by company 23 and Goats currently owner - 54
How Samridhi measures impact:
Collects baseline indicators to capture social metrics including the PPI
Housing Index
Nutritional Index Education Levels
Cash Flow of households
Repetitive surveys every quarter to assess impact on households
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Identifying target geographies:
Target area contains large segment of small farmers who depend on cattle rearing for livelihoods Unit Model set up at the centre of village cluster, thus ensuring centralised system of reaching out
One Unit Model already set up and successful
Distribution tied up with a Milk Retail Company
Way Forward: Model has immense potential as milk demand supply gap is still about 100% :(Avg World
Demand*Population of India)(Indias Production)
Identify a cluster of 12 to 15 villages with large number of small and marginal farmers/ labourers
with no fixed source of income
Set up a Unit Model at the central point within the cluster
Plan to reach out to 288 villages by March 2014 adding about 20 60 villagers/quarter Region sought to scale up to: Central U.P
Samridhi is actively looking at adding more partners so as to enable it to manage the risk of over
dependence
Scalability Proposition
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Sanchetna Financial Products: For Cattle Insurance, and Cattle Loans. Since April
2010
UPAYA SV Technical and financial support: Formal Investor in October 2011
The Goat Trust Livestock Procurement and Para Vet Services, since October 2011
Gopaljee Group Marketing, since March 2011
Partnerships
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Strong Experienced Team
Lokesh Singh
(Managing Director)
Seven Years of experience in Micro Finance
Sr. Regional Manager SKS Microfinance
Program Officer Naandi Foundation
MBA- IRMA, B Tech- HBTI, Kanpur
Process Excellence Awards Planet Finance
Sachita Shenoy
Director/ Advisor
Over ten years of experience in developing social
enterprises
Executive Director UPAYA Social Ventures
Director of Global Programs, UNITUS
MBA University of Chicago
Niraj Pareek
(Senior Manager)
Six Years of experience in HR and Micro Finance
Executive HR Accenture India
MBA- XLRI Accenture Academy
Christopher Turillo
Director/ Advisor
Co-Founder Medha
Over seven years in the development sector
Manager Business Development - SKS
MBA University of Chicago
Surbhi Rana
(Promoter/ Advisor)
IRMA Graduate with over 8 years of experiences
in rural sales and distribution
Work experience of over 4 years with AMUL in
strategy department
Post AMUL has been with Agri Input industry
Sanjay Dhaunta
(Promoter/ Advisor)
IRMA Graduate with over 8 years of experience in
rural sales and distribution
Has been with AMUL since last eight years
Currently posted as Sr. Manager Product for
North and East India
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Organizational Structure: Current
Top Management
Lokesh Singh, NirajPareek
BMC In Charge
Field AssociatesVillage Collection
Centres
BD- CommunityAssociate
Para Vet /
Pashu SakhiCattle Rearers
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Organizational Structure: Way Forward
C.E.O
C.O.O
Manager-Sales
Manager-Procurement
Unit Manager BMC In ChargeField
Associates
Manager- HR/Admin
C.F.O
Manager-Systems
Manager-Audit
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Set up several scalable units comprising of:
100 families that will be given cattle
300 families that will bemilk pourers
1 BMC
1 delivery van
Equity Requirement: INR 3 Cr. over the next 2 years
INR 1.15 Cr. for purchase of equipment such as BMC Adding about 72 direct jobs
INR 1.85 Cr. for purchase of livestock
Milestones:
Use of Funds
March13 March14
BMC 4 12
Villages Covered 96 288
Direct Jobs Created 440 1,320
Daily Procurement (L/day) 7,200 21,600
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Attributes Local
Player
Private
Company
State
Player
NGO Samridhi
Asset Leasing
Credit on Input
Advisory Services
Fair and Transparent Pricing
Regularity of Payment
Experienced Management
Services at door step
Competitive Advantage
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Revenue 2012-13 2013-14 2014-15
Milk Sales 536 1408 3380
Total Income 536 1408 3380
Expenses
Milk Procured 460 1207 2897
Salaries 44 106 195
Admin Expenses 6 14 25
Interest Expenses 2 7 15
Total Expenses 512 1334 3132Net Profit Before Tax 24 74 248
PAT 16 49 165
Financial Projections:
Social and Financial Profitability (INR lakhs)
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Risk Factor Source Mitigation Strategy
Lack of
Standardization
Productivity of cattle
variable
Expected quantity is function of
cow productivity making sure that
the member is not penalized
Scalability Difficulty in procuring
cattle in large numbers
Partnership with The Goat Trust to
buy and maintain goats
Sourcing of cattle No formal market for
cattle
Purchase through Agent with buy
back guarantee
Risks and Mitigants
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Towards Prosperity...
Thank You
Samridhi Agri Products Pvt.
Ltd.
5/82 Vipul Khand
Gomtinagar, Lucknow
0522- 407635020
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7 Months 7 Months
7 Months
7 Months
7 Months
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Appendix I: Goat Reproductive Cycle
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