JANATA SHIKSHANA SAMITI

SHRI MANJUNATHESHWARA INSTITUTE OF UNDER GRADUATE

AND POST GRADUATE STUDIES VIDYAGIRI, DHARWAD – 580004

AFFILIATED TO KARNATAKA UNIVERSITY, DHARWAD

The project Report on:

‘COMPARATIVE ANALYSIS OF FINANCIAL STATEMENT UNDERTAKEN AT
KARNATAKA MILK FEDERATION (DAMUL)’
SUBMITTED BY;
MR. MAYUR ANAND LOHAR
REG NO: U02BF22M0019
BBA VI SEMESTER

2025-26

EXTERNAL GUIDE: INTERNAL GUIDE:

DR. VEERESH TARALI PROF. N. G. PUDAKALKATTI
MANAGER (DT) OF DAMUL
 JANATA SHIKSHANA SAMITI
SHRI MANJUNATHESHWARA INSTITUTE OF UNDER GRADUATE
AND POST GRADUATE STUDIES VIDYAGIRI, DHARWAD – 580004

AFFILIATED TO KARNATAKA UNIVERSITY, DHARWAD

The project Report on:

‘COMPARATIVE ANALYSIS OF FINANCIAL STATEMENT UNDERTAKEN AT
KARNATAKA MILK FEDERATION (DAMUL)’
SUBMITTED BY;
MR. MAYUR ANAND LOHAR
REG NO: U02BF22M0019
BBA VI SEMESTER

2025-26

EXTERNAL GUIDE: INTERNAL GUIDE:

DR. VEERESH TARALI PROF. N. G. PUDAKALKATTI
MANAGER (DT) OF DAMUL
 SELF DECLARATION

I Mayur Anand Lohar hereby declare that work

incorporated in this Project report entitled “Comparative
Statement of Financial Analysis on Karnataka Milk
Union L.T.D” Prepared by me under the guidance of Prof.
Nagaveni Pudakalkatti Head of BBA Department.

I Also declare that this Project is towards the partial

fulfilment of the requirement for the degree of Bachelor of
Business Administration {B.B.A} to Karnataka
University Dharwad.

I have undergone a project for a period of 30 days. I further

declare that this Project based on the original study
undertaken by me and it has not been submitted earlier.
The project has been individually carried out as a part of
studies and is Meant for academic purpose only.

Place: Dharwad
Date:
COMPANYCERTIFICATE
 JANATA SHIKSHANA SAMITI
SHRI MANJUNATHESHWARA INSTITUTE OF UNDER
GRADUATE AND POST GRADUATE STUDIES, VIDYAGIRI
DHARAWAD – 580004
(AFFILIATED TO KARNATAKA UNIVERSITY, DHARWAD)

BACHELOR OF BUSINESS ADMINISTRATION

CERTIFICATE
This is to certify that a Bonafede student
at our collage has completed the project work titled “COMPARATIVE

during the year 2024-25. This is in

partial fulfilment for the award of Bachelor of Business Administration
degree from Karnataka University Dharwad as prescribed

Internal guide & Head of the Dept Principal

REG NO : U02BF22M0019

Signature of Examination :
 ACKNOWLEDGEMENT

“Expression of feelings by words makes them less

significant when it comes to make statement of gratitude.”
It is with a sense of gratitude that I acknowledge the efforts
of a whole host of
Well- wishers who have in some way or the other
contributed in their own special
Ways to the success of their effort.
Individual effort alone can never contribute in totality, To
the the successful combination of ideas, suggestion,
review, contribution and word involving many [Link]
cannot be completed without guidelines.
I express my deep sense of gratitude and respect to our
beloved Principal of JSS SMI UG & PG Studies, Dharwad,
for giving me the opportunity to purpose
my studies in the form of project Report.

I also thank our beloved HOD of BBA Department,

for her valuable guidance.
I also express my indebtedness to Prof. Avinash Holihosur

for their academic inputs and providing Project Work.

It gives me an immense Pleasure to thank
Who guided me throughout
the Project and for giving me permission to pursue my
Project work in Karnataka Milk Union Co Operative L.T.D,
Dharwad.

Lastly, My sincere thanks to all the faculties of

Company, My Parents, and my Friends
who have Supported me throughout the study and for its
Successfully Completion.
 EXECUTIVE SUMMERY

KMF (Karnataka Milk Federation) is a co-operative dairy

federation in Karnataka, India, owned by milk producers,
that markets milk and milk products under the “Nandini”
brand, aiming to ensure prosperity for rural milk
producers and promote rural development.

Nandini enjoy good brand image in Dharwad milk union

is one the leading producer of milk product and it has
wild area of market Nandini is a trusted household brand
name more than 200000 lakh farmers members are
supplying milk. It has large procurement system
competitive prices for all product.

There is phenomenal scope for innovation in product

development packing and presentation steps to taken to
introduce value added product like Shrikhand ice-cream
paneer dairy sweets ethics lead to a greater presence
and flexibility in the marketplace along with
opportunities in the field of brand building.
Key Points of KMF

* Provide a remunerative market for farmers milk.

* Make quality milk Products available to urban

consumers.

* Ensure Prosperity for rural milk producers and promote

rural development.
 TABALE OF CONTENTS

SL NO TOPICS PAGE NO

1. Introduction to Dairy Industry in

India.
2. 1) Introduction to K.M.F.
2) Introduction to DAMUL.
3. Theoretical Background
‘Comparative Analysis of Financial
Statements’.
4. Study Methodology.

5. Study of Comparative Analysis of

Financial Statements.
6. Findings & Suggestions.

7. SWOT Analysis.

8. Annexure.

9. Conclusion.

10. Bibliography
 CHAPTER. 1

INTRODUCTION TO
DAIRY INDUSTRY

Dairy Enterprise is an
occupation of Farmer.
In India nearly 75% of
the people depend on Agriculture. It is the backbone of
India. Dairy is linked with agriculture

industry to a large Extent.

During the pre- independent year there was no serious

stress given to dairy industry. In 1986 the Department of
Defense of the British Government established the dairy
farmers for the supply of milk to the British troops on
Allahabad.

Later, in 1920 serious steps were taken by Mr. William

Smith, an expert in dairy forming to improve the milk
Production There was discrimination done to the Indians
hence this led to the rise of the First Milk Union in India.

In Lucknow in 1973 called the Lucknow Milk Producers

co- operative union Ltd.

in 1946 AMUL (Anand Milk Udyog Ltd) was started in

Gujarat. to bring up the economic stability of villagers.
When the farmers Prime Ministers Shri Lal Bahadur
Shastri ji visited the functioning as it was rendering a
social service to the society, which helped the villagers to
come in the national economic streams.

The dairy & Animal Husbandry received serious attention

after the Independence.

There were lots many of progressive steps taken by

the Government through five year plans, This led to the
formation of National Dairy Development Board in 1965 &
thus in 1970 he decided to bring a “White Revolution”
throughout the country, initially 10 states were selected
were for this purpose excluding Karnataka.

In Karnataka in 1974 an integrated project was

launched to restructure & reorganize the dairy industry
on co-operative principle of AMUL & to lay foundation for
new direction in dairy industry.
CHAPTER.2 INTRODUCTION TO KMF & DAMUL

1)INTRODCTION TO K.M.F

“K.M.F” which stands for Karnatak Milk Federation, is the

Apex dairy co-operative in Karnatak, India.

K.M.F is Responsible for collecting milk from Farmers

across the state & selling it under the Brand name
“NANDINI” as various Dairy products like Milk, Peda,
Curd, Ghee, ice creams, Paneer, Butter, Buttermilk,
Cheese, Cookies, Chocolates, Milk Powder.

K.M.F Considered the 2nd Largest Dairy co-operative in

India, KMF plays a key Roles in Promoting Rural
Prosperity through Dairy Development by managing a Net
worth of milk producers across the state.
 Key Points about KMF

*Full Name: Karnataka co-operative Milk Federation Ltd.

*Brand Name: NANDINI

*Function: Collects Milk from Farmers through a Network

Of Dairy co-operative Societies. & sells process

Dairy products under the Nandini Brand Name

*Key Feature: Plays a crucial Role in Regulating milk

Supply across Karnataka & ensuring

Markets access for Milk Procedures.

In 1984 the Organization was renamed KMF. KMF has 15

milk unions throughout the Karnataka State, which
procure milk from primary Dairy co-operative societies.

(D.C.S) & Distribute milk to the consumers in various

urban & rural markets.
 The Karnataka Dairy Development Corporation
(K.D.D.C) was Formed in 1974 to implement a dairy
Development. Project supported by the World Bank. In
1984 The Organization was Renamed KMF.

In 1955 First Dairy was established in the state of

Karnataka, Belonging to “KODAGU”

“Verghese Kurien” (V. Kurien) has enabled India to

became The largest Milk Producers in the World. A man
with Rare Vision, He has Devoted a lifetime to Realizing
his dream empowering The Farmers of India. & He also
known as “Father of White Revolution” or “Dudhwala of
India”. As a march 2024, The K.M.F had an annual
Turnover of 23000 crore Revenue in Financial Year 2024
was 5951 crore, which was lower than the Previous Year.

The Income from Operators of KMF was over 59

Billion India rupees in Fiscal Year 2024.

THE PRODUCTS:

Milk Toned Milk, Full Cream Milk, Good Life,

Standardized Milk, Flavored Milk, Slim Butter Milk.

MILK PRODUCTS:

Ghee, Badam Powder, Butter, Paneer, Curds, Peda,

Cheese, Ice creams, Gulab jamon, Burfi, etc.
 KMF CONSITS OF

UNITS NO
Milk Union 16
Dairies 17
Liquid Nitrogen Silos 6
Product Plant 3
Training Center 3
Sperm Station 1
Cattle Feed Plant 4
Pouch Film Plant 1

VISION: (In their words…)

* To ensure prosperity of the rural milk producers who are

ultimate owners of the Federation.

* To promote producers oriented viable co-operative

society to impact an impetus to the rural income, dairy
productivity & rural employment.

* To develop business acumen in marketing and trading

discipline so as to serve consumers with quality milk, give
a fillip to the income of milk co-operatives.

* To complete with MNCs & private Dairies with better

quality of milk and milk products and in the process
sustain invincibility of co-operatives.
MISSION: (In their words…)

Heralding Economic, Social & Cultural prosperity in

the lives of our milk producers members by promoting
vibrant, self-sustaining and holistic co-operative dairy
development in Karnataka state.
 2) INTRODUCTION TO DAMUL

Dharwad Co-operative Milk Producers Union Ltd

Dharwad Co-operative milk producers union Ltd

(DAMUL) has been registered under Karnataka Co-
operative Act in March 1986 covering Dharwad, Haveri,
Gadag & Utter Kannada Districts. DAMUL has 995
number of Functional DCSs covering 28 taluks, of which
DAMUL has infrastructure to handle 2.10 lakh liters of
milk, produce 10 tons of milk powder, 9 tons of Butter and
4 tons of Ghee per day.

It has Chilling Centers at Haveri- 20 TLPD (Thousand

Liters Per Day), Hirekerur- 20 TLPD (Thousand Liters Per
Day), Gadag (Mallasandra) – 20 TLPD (Thousand Liters Per
Day), Sirsi- 20 TLPD (Thousand Liters Per Day), Rona- 10
TLDP (Thousand Liters Per Day) & Kumta- 2 TLPD
(Thousand Liters Per Day), with total capacity of 92 TLPD.
There are 18 Bulk Milk Coolers and 351 Automatic Milk
Collection units in the union.
 The union procures on an Average of 2.34 lakhs
KGs/day of milk, sells 0.96 lakh liters/day and 0.09
liters/day of Curd.

Today the union is procuring milk from over 435

DCSs (District Co-operative Societies) of which 319 are
Functional. Their functional DCSs of which 319 are
functional. Their functional DCSs has shown steady
increase over the past few years with the members starting
at 71787 in November 1997. The effort of the union on
the procurement side has lead to its procuring in an
average of 461846 of its milk every day.

Nature of the Business Carried:

One of the core functions is procurement of

milk, processing it and marketing milk and milk products.
DHAMUL markets its products under the brand name
Nandini. Known for quality Dharwad Peda, “Kuduke
Mosaru” (set curds in earthern pot) and 10g butter
chiplets.

Ownership Pattern:

DHAMUL builds and runs under the co-operative

institutions such as

*District Co-operative Society (DCS)

*National Dairy Development Board (NDDB)

 CHAPTER. 3

THEOROTICAL BACKGROUND OF
“COMPARATIVE ANALYSIS OF FINANCIAL
STATEMENT”

INTRRODUCTION:

A Financial Statement is an official document of the

firm, which explores the entire financial information of the
firm. The main aim of the financial statement is to provide
information, and understand the financial aspects of the
firm.

Hence, preparation of the financial statements is

important as much as the financial decisions.

Financial statements generally consists of two important

statements.

1)The Profit & Loss Account.

2)Balance Sheet.

Profit & Loss Account

The Profit & Loss account, which reflects the

operational position of the firm during a Particular Period.
Normally it consists of One accounting year. It determines
the entire Operational performance of the concerns like
total revenue generated and expenses incurred for earning

that revenue.

P & L Account helps to ascertain the gross Profit and

Net profit of the concerns. Gross Profit is determined by
preparation of trading or manufacturing A/C, Net Profit is
determined by preparation of Profit & Loss A/C.

Advantages of P&L Account

* Measures Profitability.

* Helps in Decision Making.

* Assists in Tax Calculation.

* Tracks Business Performance.

* Useful for Investors & Lenders.

* Helps in Budgeting & Forecasting.

Disadvantages of P&L Account

* Ignores Cash Flow

* Subjects to Accounting Estimates.

* One Sided View.

* Not Always Accurate.

* Short Term Focus.

Balance Sheet

Balance Sheet, which reflects the financial position of

the firm at the end of the financial year. Balance Sheet
helps to ascertain and understand the total assets,
liabilities and capital of the firm.

One can understand the strength and weakness of

the concern with the help of the Position Statement.

Advantages of Balance Sheet

* Financial Position Overview.

* Decision Making Tool.

* Liquidity Assessment.

* Risk Assessment.

* Compliance and Reporting.

* Tracking Growth.

Disadvantages of Balance Sheet

* Snapshot Limitation.

* Historical Cost Issue.

* Subject to Manipulation.

* Doesn’t show Profitability.

* Intangible Assets Undervalued.

Types of Financial Statement Analysis

Analysis of Financial Statement is also necessary to

understand the financial position during a particular
period. According to Myres “Financial Statement analysis
is Largely a study of the relationship among the various
financial factors in a business as disclosed by a Single Set
of statements and a study of the trend of these factors as
shown in a series of statements”.

Types of Financial Analysis

1) On the basis of Materials Used.

* External Analysis

* Internal Analysis

2) On the basis of Methods of Operations.

* Horizontal Analysis

* Vertical Analysis

1) Based on Material Used

Based on the material used, financial statements

analysis may be classified into two major types such as,

A) External Analysis

Outside of the business concern do normally external

analyses but they are indirectly involved in the business
 Concern such as investors, creditors, government
organizations and other credit agencies. External
analysis is very much useful to understand the
financial and operational position of the business
concerns. External analysis mainly depends on the
published financial statements of the concerns. This
analysis provides only limited information about the
business concerns.

B) Internal Analysis
The company itself does disclose some of the
valuable information to the business concerns in
this type of analysis. This analysis is used to
understand the operational Performance of each and
every department and unit of the business concern.
Internal analysis helps to take decisions regarding
achieving the goals of the Business Concerns.

2) Based on Method of Operation

Based on the methods of operations, financial

statement analysis may be classified into two major type
such as,

A) Horizontal Analysis

Under the horizontal analysis, financial statement

is compared with several years and based on that,
 a firm may take decisions. Normally, the current year’s
figures are compared with the base year (base year is
considered as 100) and how the financial information are
changed from one year to another. This analysis is also
called as “Dynamic A analysis”.

B) Vertical Analysis
Under the Vertical Analysis, financial statements

measure the quantities relationship of various items in the

financial statement on a particular period. It is also called
as “Static Analysis”, because this analysis helps to
determine the relationship with various items appeared in
the Financial Statement. for example, a sale is assumed
as 100 and other items are converted into sales figures.

Techniques of Financial Statement Analysis

Financial Statement analysis is interpreted mainly

to determine the financial and operational performance of
the business concerns. A number of methods or
techniques are used to analyze the financial statement of
the business concerns. The following are the common
techniques, which are widely used by business concerns.
1) Comparative Statement Analysis.

A) Comparative Income Statement Analysis

B) Comparative Position Statement Analysis

2) Trend Analysis.

3) Common Size Analysis.

4) Fund Flow Statement.

5) Cash Flow Statement.

6) Ratio Analysis.
 CHAPTER 4

STUDY METHODOLOGY

1)Title of the Study

• Comparative Analysis of Financial Statements.

2)Type of Study

• Academic and Descriptive Study.

3)Objectives of Study

* Academic Interest.

* Partial Exposure to Business.

* To understand Financial Statement of Business.

* To know how actually Finance Department work’s.

* To Test Firm’s efficiency in utilization of its Assets and

Resources.

* Assessment of the Past Performance of the Company.

* Assessment of Current Position of the Firm.

4)Data Collection for Study

Data collection is one of the most important

aspects of the study. The Data is collected through
Primary & Secondary sources.

* Primary Data on company it’s operations & some facts

Related to the Study are obtained, by the student
observations and Also by Discussing the Matter the
Company Officials.

* Secondary Data on the Industry, on the Company,

Theory related to the subject Financial Data are collected
or obtained from The Internet, Textbooks, & Company
Published Material.

* “Sampling does not Applicable Here”.

 CHAPTER. 5

1)DATA ANALYIS AND PRESENTATION

Tables showing Comparative Analysis of Balance Sheet in the

Financial Year 2020-21 and 2021-22

Previous year Current year Absolute Percentag

Particulars (2020-21) (2021-22) Change e

(%)

Assets
1) Fixed Assets
Investments 5,75,69,271 5,23,58,902 -52,10,369 -9.05%

Fixed Assets 58,63,00,567 55,44,92,905 -3,18,07,662 -5.42%

Total Fixed Assets 64,38,69,838 60,68,51,807 -3,70,18,031 -5.74%

2) Current
Assets
Closing Stocks 35,08,49,690 17,23,35,530 17,85,14,160 50.88%

Deposits (Assets) 87,30,142 1,22,01,381 34,71,239 39.76%

Loans &Advances 1,59,29,143 3,40,27,818 1,80,98,675 113.61%

Sundry Debtors 3,24,34,285 22,67,90,601 19,43,56,316 599.23%

Cash in Hand 33,06,619 8,96,114 -24,10,505 -72.8%

Bank Accounts 2,26,72,955 35,56,372 -1,91,16,583 -84.3%

Capital Work in
_ 15,68,34,868 15,68,34,868 100%
Progress
Total Current
43,39,22,834 60,66,42,684 17,27,19,850 39.80%
Assets
Total Assets 107792672 1213494494 13,57,01,822 12.5%

Liabilities
1) Capital
Account
Grants 16,24,76,232 12,23,87,882 -4,00,88,350 -24.67%

Reserve &
4,02,73,645 4,36,11,539 33,37,894 8.28%
Surplus
Share capital A
9,85,81,200 10,78,59,400 92,78,200 9.41%
class
Share capital B
10,11,42,000 10,11,42,000 0 0
class
2) Loans
Bank Over Draft
28,99,94,380 32,78,88,551 3,78,94,171 13.06%
A/C
3)Current
Liabilities
Other Liabilities 19,88,68,751 33,45,25,432 13,56,56,681 68.21%

Salary Recovers 26,84,882 39,24,602 12,39,720 46.17%

Security Deposit 3,67,13,876 3,54,14,661 -12,99,215 -3.53%

Unpaid Salary /
1,83,741 90,140 -93601 -50.94%
Wages A/C
Sundry Creditors 14,60,45,696 14,51,35,943 -9,09,753 -0.62%
DCS & Other
___ 10,11,420 10,11,420 100%
Liabilities
(-) Duities & Tax (96,35,124) (1,96,01,969) (99,66,845) (103%)

4) P&L A/c
P&L A/c 1,04,63,393 1,01,04,889 -3,58,504 -3.42%

Total Liabilities 1077792672 1213494494 13,57,01,822 12.59%

(Source: Balance Sheet of the Company)

Note: Negative (-ve) figures Show Decreasing Values.

Positive (+ve) figures show Increasing Values.

 Comparative Balance Sheet Analysis of in the
Financial year 2022-23 and 2023-24

Previous year Current year

Particulars Absolute Percentage
(2022-23) (2023-24) Change %

Assets
1)Fixed Assets
Investments 3,41,46,994 3,63,15,956 21,68,962 6.35%

Fixed Assets 50,58,72,866 46,82,65,981 -3,76,06,885 -7.43%

Total Fixed Assets 54,00,19,860 50,45,81,937 -3,54,37,923 -6.56%

2) Current Assets
Closing Stocks 16,03,56,762 18,06,74,495 2,03,17,773 12.67%

Deposits (Assets) 1,20,27,042 1,39,36,904 19,09,862 15.87%

Loans & Advances 1,74,48,213 1,01,66,439 -72,81,774 -41.73%

Sundry Debtors 80,68,975 -6,89,64,545 -7,70,33,520 -954.68%

Cash in Hand 42,097 52,56,333 52,14,236 12,386.2%

Bank Accounts 2,69,82,456 5,73,53,175 3,03,70,719 112.55%

Capital Work in
22,59,64,287 21,86,87,090 -72,77,197 -3.22%
Progress
Total Current
45,08,89,832 41,71,09,891 -3,37,79,941 -7.49%
Assets
Total Assets 99,09,09,692 92,16,91,828 -6,92,17,864 -6.98%
Liabilities
1) Capital Account
Reserve & Surplus 2,75,96,260 2,91,71,325 15,75,065 5.70%

Share Capital A
6,57,59,700 7,00,99,700 43,40,000 6.59%
class
Share Capital B
5,86,62,360 5,86,62,360 0 0
class
Share Suspense 6,65,853 6,73,383 7530 1.13%

2) Loans
Bank Over Drafts 25,29,95,328 18,12,33,664 -7,17,61,664 -28.36%

3)Current
Liabilities
O.S.L 2,65,09,111 2,03,62,235 -61,46,876 -23.18%

Other Liabilities 18,16,90,932 17,54,99,628 -61,91,304 -3.40%

Salary Recovers 35,05,472 32,45,413 -2,60,059 -7.41%

Security Deposits
3,58,59,364 4,80,71,590 1,22,12,226 34.05%
A/c
Unpaid
90,140 26,590 -63,190 -70.10%
Salary/Wage A/c
Sundry Creditors 13,65,20,328 14,26,72,368 61,52,040 4.50%

DCS & other

5,86,623 5,86,623 0 0
liabilities
HAVEMUL 6,21,97,713 6,21,97,713 0 0
(-) Duities & Tax
4) Grants- L
Grants 13,66,53,412 13,00,06,950 -66,46,462 -4.86%

5) P& L A/c
P&L A/c 16,17,095 13,05,459 -3,11,636 -19.27%

Total Liabilities 99,09,09,691 92,16,91,826 -6,92,17,865 -6.98%

(Source: Balance Sheet of the Company)

Note: Negative (-ve) figures show Deceasing Values.

Positive (+ve) figures show Increasing Values.

 Chart Showing Analysis of Fixed Assets:

Interpretation:

In the Year 2021-22 Fixed Assets have been Decreased

by 5.74% i.e by Rs 3,70,18,031 Compared to Previous
Year 2020-21.

In the Year 2023-24 Fixed Assets have been Decreased

by 6.56% i.e by Rs 3,54,37,923 Compared to Previous
year 2022-23.
 Chart showing Analysis of Current Assets:

Interpretation:

In the Year 2021-22 Current Assets have been Increased

by 39.80% i.e by Rs 17,27,19,850 Compared to Previous
Year 2020-21.

In the Year 2023-24 Current Assets have been Decreased

by 7.49% i.e by Rs 3,37,79,941 Compared to Previous
Year 2022-23.
 Chart Showing Analysis of Capital Account.

Interpretation:

In the Year 2021-22 Capital Account have been

Decreased by 6.82% i.e by Rs 2,74,72,256 Compared to
Previous year 2020-21.

In the Year 2023-24 Capital Account have been

Increased by 3.87% i.e by Rs 59,22,595 Compared to
Previous Year 2022-23.
 Chart Showing Analysis of Loans Account

Loans (Liabilities)

Interpretation:

In the Year 2021-22 The Loan have been Increased by

13.06% i.e by Rs 3,78,94,171 Compared to Previous year
2020-21.

In the Year 2023-24 The Loan have been Decreased by

28.36% i.e by Rs 7,17,61,664 Compared to Previous Year
2022-23.
 Chart Showing Analysis of Current Liabilities

Interpretation:

In the Year 2021-22 Current Liabilities have been

Increased by 33.51% i.e by Rs 12,56,38,407 Compared to
Previous Year 2020-21.

In the Year 2023-24 Current Liabilities have been

Increased by 0.80% i.e by Rs 35,79,302 Compared to
Previous Year 2022-23.
 Chart Showing Analysis of ‘Total Liabilities’

Interpretation:

In the Year 2021-22 Total Liabilities have been Increased

by 12.59% i.e by Rs 13,57,01,822 Compared to Previous
Year 2020-21.

In the Year 2023-24 Total Liabilities have been Decrease

by 6.98% i.e by Rs 6,92,17,865 Compared to Previous

Year 2022-23.
 Tables Showing Comparative Analysis of P&L Account

Ⅰ)Financial Year 2020-21 and 2021-22

Previous Year Current Year Absolute Percentage

(2020-21) (2021-22) Change (%)

Particulars
Expenses
1)Opening
Stock
Stock Milk 1,20,13,992 1,49,03,859 28,89,867 24.05%

Stock Milk
7,60,87,004 26,06,55,319 18,45,68,315 242.5%
Products
Stock Other 4,77,98,531 6,08,56,947 1,30,58,416 27.31%

Stock p/1 1,75,98,075 1,44,33,565 -31,64,510 -17.98%

2)Purchase
Account
Purchase of
29,15,03,163 33,62,22,637 4,47,19,474 15.34%
FEED
Purchase of
2,23,66,26,733 2,60,89,99,898 37,23,73,165 16.64%
Milk
Purchase of
2,93,69,286 3,90,10,840 96,41,554 32.82%
Milk Products
Other Purchase 8,17,98,342 13,77,15,636 5,59,17,294 68.35%
Purchase of 2,95,84,113 3,12,57,350 16,73,237 5.65%

P/1
3)Direct
Expenses
P&I Wing Exp 7,09,08,094 10,11,72,649 3,02,64,555 42.68%

Process &
32,17,03,632 31,49,19,129 -67,84,503 -2.10%
Manufacturing
Expenses
Gross Profit c/o 40,71,43,190 38,69,84,812 -2,01,58,378 -4.95%

3,62,21,34,159 4,30,71,32,645 68,49,98,486 18.91%

4)Indirect
Expenses
Administration
6,22,00,375 7,46,51,469 1,24,51,094 20.1%
Expenses
Interest & Bank
1,60,68,828 2,03,66,851 42,98,023 26.74%
charges
Selling &
10,56,93,919 12,67,96,067 2,11,02,148 19.96%
Distribution
Exp
Staff Expenses 18,19,23,246 17,33,75,350 -85,47,896 -4.69%

Depreciation
8,46,31,966 7,14,31,376 -1,32,00,590 -15.59%
A/C
Income Tax of --
35,00,000 35,00,000 100%
Union 2020-21
Net Profit 1,04,63,393 1,01,04,889 -3,58,504 -3.42%

Total Expenses 46,44,90,730 47,67,26,005 1,22,35,275 2.63%

Incomes
1)Sales
Accounts
Sale of Cattle
31,14,29,430 36,50,75,048 5,36,45,618 17.22%
Feed
Sale of Milk 1,48,31,62,076 1,54,06,50,210 5,74,88,134 3.87%

Sale of Milk
1,33,55,02,912 2,10,23,66,703 76,68,63,791 57.42%
Products
Sale of P&1 3,35,78,680 2,40,47,667 -95,31,013 -28.38%

Other Sales 67,70,017 1,06,57,115 38,87,098 57.41%

Conversion
9,23,18,224 8,52,23,054 -70,95,170 -7.68%
Charges
Storage
17,56,220 11,06,380 -6,49,840 -37.00%
Charges
Local Milk 67,66,907 56,70,935 -10,95,972 -16.19%

Sales
Closing Stocks 35,08,49,690 17,23,35,530 -17,85,14,160 -50.88%

Stock Milk 1,49,03,859 1,28,83,560 -20,20,299 -13.55%

Milk Products 26,06,55,319 6,16,56,194 -19,89,99,125 -76.34%

Stock Others 6,08,56,947 9,10,64,632 3,02,07,685 49.63%

Stock P/1 1,44,33,565 67,31,143 -77,02,422 -53.36%

3,62,21,34,159 4,30,71,32,645 68,49,98,486 18.91%

Gross Profit b/f 40,71,43,190 38,69,84,812 -2,01,58,378 -4.95%

2)Indirect
Incomes
Other Incomes 1,97,09,111 5,65,61,959 3,68,52,848 186.9%

Income
3,76,38,428 3,31,79,234 -44,59,194 -11.84%
Depreciation
Total Incomes 46,44,90,730 47,67,26,005 1,22,35,275 2.63%

(Source: P & L Account of the Company)

Note: Negative (-ve) figures show Decreasing Values.

Positive (+ve) figures show IncreasingValues.

 Tables Showing Comparative Analysis of P&L

Account

Ⅱ Financial Year 2022-23 and 2023-24

Previous Year Current Year Absolute Percenta

Particulars
(2022-23) (2023-24) Change ge
(%)

Expenses
1)Opening Stock
Stock of Milk 1,28,83,560 1,99,93,371 71,09,811 55.18%

Stock Milk
6,16,56,194 2,19,57,223 -3,96,98,971 -64.3%
Product
Other Stocks 9,10,64,632 11,52,60,237 2,41,95,605 26.56%

Stock-P/l 67,31,143 31,45,929 -35,85,214 -53.2%

2)Purchase
Account
Purchase of Cattle
28,29,94,805 26,46,70,021 -1,83,24,784 -6.47%
Feed
Purchase of Milk 2,12,24,21,359 2,08,82,43,642 -3,41,77,717 -1.61%

Purchase of Milk
8,74,05,006 10,23,37,869 1,49,32,863 17.08%
Products
Other Purchase 6,23,66,651 3,77,85,288 -2,45,81,363 -39.4%

Purchase of P/l 4,84,23,398 1,40,34,015 -3,43,89,383 -71.1%

Purchase of Pack
7,16,41,624 5,11,98,416 -2,04,43,208 -28.5%
Materials
3)Direct
Expenses
Manufacturing
28,07,83,035 24,99,41,109 -3,08,41,926 -10.9%
Expenses
Procurement
8,68,98,258 8,96,83,360 27,85,102 3.20%
Transportation
Gross Profit c/o 37,13,19,123 36,95,35,523 -17,83,600 -0.48%

3,58,65,88,794 3,42,77,86,009 -15,88,02,78 -4.42%

4)Indirect
Expenses
P&I Wing Exp 1,95,17,741 1,34,56,485 -60,61,256 -31.0%

Administration
7,51,70,327 5,77,16,827 -1,74,53,500 -23.2%
Exp
Interest & Bank
1,77,22,879 1,97,98,127 20,75,248 11.70%
Charges
Selling &
10,07,31,511 11,42,31,714 1,35,00,203 13.40%
Distribution Exp
Staff Expenses 14,41,05,463 14,63,45,944 22,40,481 0.15%

Depreciation A/C 6,48,88,664 5,86,03,793 -62,84,871 -9.68%

Net Profit 16,17,095 13,05,459 -3,11,636 19.27%

Total Expenses 42,37,53,683 41,14,58,353 -1,22,95,330 -2.90%

Incomes
1)Sales Accounts
Sale of Cattle Feed 28,73,31,708 26,65,77,521 -2,07,54,187 -7.22%

Sale of Milk 1,75,92,53,979 2,00,18,09,652 24,25,55,673 13.78%

Sale of Milk
1,23,47,77,372 78,49,59,363 -44,98,18,009 -36.4%
Products
Sale of-P&I 6,08,23,073 1,66,59,835 -4,41,63,238 -72.6%

Other Sales 2,95,13,339 3,65,07,663 69,94,324 23.6%

Conversion
4,89,94,070 8,46,11,490 3,56,17,420 72.6%
Charges
Storage Charges 6,00,463 11,28,405 5,27,942 87.9%

GST Sales __ 4,76,86,676 4,76,86,676 100%

Local Sales Milk-

49,38,025 53,03,083 3,65,058 7.39%
DCS
Sale of Packing __
18,67,820 18,67,820 100%
Material
Closing Stocks 16,03,56,762 18,06,74,495 2,03,17,733 12.6%

Stock-Milk 1,99,93,371 1,17,30,072 -82,63,299 -41.3%

Stock Milk
2,19,57,223 9,04,85,115 6,85,27,892 312.0%
Products
Other Sales 11,52,60,237 7,44,59,482 -4,08,00,755 -35.3%

Stock P/l 31,45,929 39,99,825 8,53,896 27.14%

3,58,65,88,794 3,42,77,86,009 -15,88,02,785 -4.42%

Gross Profit b/f 37,13,19,123 36,95,35,523 -17,83,600 -0.48%

2)Indirect
Incomes
Other Incomes 1,90,60,891 1,17,03,567 -73,57,324 -38.5%

Income
3,33,73,668 3,02,19,262 -31,54,406 -9.45%
Depreciation
Total Incomes 42,37,53,683 41,14,58,353 -1,22,95,330 -2.90%

(Source: P&L Account of the Company)

Note: Negative (-ve) figures shows Decreasing Values.

Positive (+ve) figures Shows Increasing Values.

 Chart Showing Analysis of Total Expenses

Interpretation:

In the Year 2021-22 Total Expenses have been Increased

by 2.63% i.e by Rs 1,22,35,275 Compared to Previous
Year 2020-21.

In the Year 2023-24 Total Expenses have been Decreased

by 2.90% i.e Rs 1,22,95,330 Compared to Previous Year

2022-23.
 Chart Showing Analysis of Total Incomes

Interpretation:

In the Year 2021-22 Total Income have been Increased by

2.63% i.e by Rs 1,22,35,275 Compared to Previous Year
2020-21.

In the Year 2023-24 Total Incomes have been Decreased

by 2.90% i.e by Rs 1,22,95,330 Compared to Previous
Year 2022-23.
 CHAPTER. 7

SWOT ANALYSIS

Strengths:

• Nandini enjoys good brand image. Dharwad Milk

Union is one the leading procedures of milk
products & it has wide area of market, “Nandini” is
trusted households brand name, more than 2 lakhs
farmer members were supplying milk.

• It has large procurement systems.

• Competitive Price for all products.

• Wide Distribution network leads to regular & time

supply.

• DAMUL is giving remunerative & timely payment to

its procedures & this has a good on suppliers &
made union to be in good condition.
Weakness:

• Inadequate sales promotional activity.

• Due to bad smell persists cause low sales.

• DAMUL organizational structure does not permit

incentives/reward for good performance of an
employee.

• DAMUL Company should distribute their product

directly to sellers without keeping any middlemen &
agents because part of profits is divided between
middlemen and agents.
Opportunities:

• There is a phenomenal scope for innovation in

products development packing & presentation.

• Steps to taken to introduce value added products like

Shrikhand, Ice creams, Paneer, Khova, Flavoured
milk, Dairy sweets etc. this lead to a greater presence
& flexibility in the marketplace along with the
opportunities in the field of brand building.

• There is scope for developing in an explored areas for

milk processing as Nandini can extend its equity of
brand.

• Diversification of milk products Peda, Mysore pak,

Cashew burfi, Lassie, Milk Powders, Butter Milk.

• Rapid Growth in education sector in the recent years.

Threats:

• Competition from other service provides in the city &

the region.

• Competition from online marketing.

• Increase of competitors milk vendors in organized

sectors.

• Low level of consumers awareness in Dharwad &

Surrounding areas.

• The competition of from co-operative like Dodla,

Heritage, Kamadenu they are producing different
milk products which are giving a good competition.
 Annexure
(Attached copies of Balance Sheet & P&L Account in the
Financial year 2020-21, 2021-22, 2022-23, 2023-24)