INVESTMENT ANALYSIS OF GROOVE ROLLER PRESSURE FEEDER (GRPF) TO IMPROVE PRODUCTION COST EFFICIENCY: A CASE STUDY OF PG TRANGKIL SUGAR FACTORY 14 25
DOI:
https://doi.org/10.26623/jreb.v19i2.15709Keywords:
capital budgeting, groove roller pressure feeder, investment feasibility, milling efficiency, production cost efficiencyAbstract
This study aims to analyze the financial feasibility and operational impact of investment in a Groove Roller Pressure Feeder (GRPF) at PG Trangkil, a private sugar factory in Central Java, Indonesia, as an effort to increase milling efficiency and reduce production costs amid intensifying competition from newly built, higher-efficiency sugar mills. A mixed-method case study design was employed, combining qualitative data from in-depth interviews, non-participant observation, and company archives with quantitative capital budgeting analysis (NPV, IRR, Profitability Index, Payback Period, and ROI). Key informants were the factory manager and heads of the technical, finance-administration, and manufacturing divisions, selected purposively. Results show that the GRPF investment, valued at IDR 25 billion, generated an NPV of IDR 876,997,000, an IRR of 11.19 percent, a Profitability Index of 1.04, and a payback period of 4.21 years, and is therefore financially feasible. Operationally, GRPF raised mill extraction and reduced sucrose loss in bagasse, lifting sugar sales revenue by 111.16 percent and net profit by 22.59 percent, although rising raw-material costs compressed gross and net profit margins. The findings extend a mini-theory linking integrated investment planning to milling efficiency and financial performance in the private sugar industry.
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