Você está na página 1de 31

PRESENTAION ON

SUMMER TRANING
PROJECT
“BINANI CEMENT
LIMITED”
AT NEEM KA THANA

Presented By:-
Sandeep Agarwal
MBA
(FINANCE)
LIM(LPU)
TOPIC:- COMPARATIVE ANALYSIS OF
WORKING CAPITAL MANAGEMENT BY
DIFFERENT METHODES.
INTRODUCTION:-

• The Braj Binani Group beginning to


1872, By Seth Pragdas Binani.
• Binani Cement Limited (in Serohi ,Rajasthan)
--effective from 1 st november 1996.
• An Other unit of Binani Cement Limited(in NEEM
KA THANA, Rajasthan).—effective from 1997
• The Binani Cement Factory (LLC), established in
1996, is located in the Jebel Ali Industrial
Area,Dubai.
• The Shandong Binani Rongon Cement Company
Ltd. (SBRCCL), Shanghai (china). With 70%
stakeholders , 2 year old clinker plant .
Binani Industries Limited (BIL):-
• The Braj Binani Group an Asset
value of Rs. 1968 crores,
Annual turnover of Rs. 2302
crores and a 1750-strong Work
force.
CLINKER GRINDING UNIT:-

• GYPSUM=6.5%.
• FLY ASH/SLAG=25%.
• CLINKER= REST OF
BALANCE(68.5%).
• The Core Values of BINANI CEMENT
LIMITED IS COMIT:

• C- Customer Focus


O - Organizational Pride

M- Mutual Respect and Trust
 Mr. VINOD JUNEJA
(MD BRAJ BIANANI GROUP)
I - Initiative and Speed

T - Total Quality
Mr . Amithabh
Bachchan
(Brand Ambassador of
Braj Binani Group)

SCOPE OF STUDY
The scope of study will cover all the component of
current assets and current liability. The
ascertainment of working capital gap critical
examination of financial statement, return on
investment and the best and optimum sources of
financing the working capital.
OBJECTIVE OF STUDY

• Analyse the Position of the current


assets and liability.
• Identify the requirement and change
in working capital.
• Analyse the working capital.
• SWOT Analyse the of company.
• Analyse by different Method.
RESEARCH METHODOLOGY

 SOURCES OF DATA
 Secondary data:-
• Annual report of last 2 year.
• Red herring prospectus.
• Audited balance sheet & p/l account 2008 and
2009.
• Binani news jouranl Magazine March –April
2010.
• Man power summary (May 2010).
 Primary data:-
• Through the direct interview of different
managers of different department such as
logistic, finance , production and H.R.&A.
• Binani cement web sites.
CONCEPTS OF WORKING
CAPITAL MANAGEMENT:
Working capital management is the device
of finance. It is related to manage of current
assets and current liabilities.
There are two concepts of working capital:-

• Gross Working Capital.`


• Net Working Capital.
Gross Working Capital:- The gross working

capital is the capital invested in the total


current assets of the enterprise.
NET WORKING CAPITAL: -Net working
capital is the excess of current assets over
current liabilities.


 COMPARITIVE ANALYSIS OF WORKING CAPITAL MANAGEMENT
 CALCULATION OF GROSS WORKING CAPITAL (Rs . Lakhs)
 PARTICULARS As at As at
 31st March, 2009 31st March, 2008
CURRENT ASSETS, LOANS AND ADVANCES
CURRENT ASSETS :
INVENTORIES

• (as taken, valued & certified by the Management)


• Stores, Spare Parts and Fuel______________________________________ 10,801.52 14,488.83
• Loose Tools __________________________________________________ 12.49 5.00
• Raw Material and Packing Material _______________________________ 734.43 329.11
• Work - In - Process ____________________________________________ 24.48 42.78
• Finished Goods _______________________________________________ 9,681.03 6,878.72

SUNDRY DEBTORS (UNSECURED AND CONSIDERED


GOOD,UNLESS OTHERWISE STATED) :
• Other debts ________________________________________________ - 0.53
Cash and Bank Balances

• Cash In Hand_______________________________________________ 5.65 7.60


• Remittances in transit and cheques in hand______________________ 12.08 86.88
 Balance with Scheduled Banks :
• Current Accounts ___________ _______________________________ 3,916.73 1,862.05
• Collection Accounts _________________________________________ 3,159.69 2,371.49
• Deposit Accounts (Including Rs. 1.83 Lakhs______________________ 1,627.31 5,264.85
 (Previous year Rs. 1,316.81 lakhs) in margin accounts)
Loans and Advances (Unsecured, considered good,

unless otherwise stated)

• Due from Holding Company__________________________________ 8,557.65 8,046.62


 (Refer Note 26 of Schedule 15)
• Advances recoverable in cash or in kind or for value to be received___ 7,015.31 6,911.17
• Fringe Benefit Tax (Net)____________________________________ 5.20 9.47
• Other Deposits ___________________________________________ 708.54 818.44
• Balance with Excise, Customs and VAT Authorities ______________ 2,159.30 3,067.73
 (including for Service Tax Rs. 156.15 lakhs, Previous Year Rs. 2.42 lakhs)
• Assets held for disposal _____________________________________ 33.31 19.42
GROSS WORKING CAPITAL _____________________________________ 48,454.72 50,210.69

Interpretation:

• There should be investment for short term.As compare


to FY 2008 the company’s current assets has
decreases in FY 2009.
• Company should use the cash in hand and cash at
bank for some investment .
• Company should maintain proper utilisation of the
deposits.
• Company’s closing stock in FY 2009 increase.
• Company’s stocks are depend on demand and supply.
 TOTAL CURRENT LIABILITIES:
(Rs.Lakhs)
PARTICULARS:-
 As at
As at
 31st March, 2009
31st March, 2008
CURRENT LIABILITIES AND PROVISIONS

CURRENT LIABILITIES:-

• Acceptances_____________________________ 469.93 –
• Sundry Creditors
• For Trade :
 – Total outstanding dues of creditors other than micro
 enterprises and small enterprises_ ___________ 27,070.51 21,836.87
 (includes creditors for capital projects Rs. 4,294.91 lakhs
 (Previous Year Rs. 5,546.27 lakhs))
• – For Expenses___________________________ 5,546.75 2,050.40
• Other Liabilities __________________________ 13,123.15 7,750.87
• Advances from customers__________________ 4,779.82 3,204.26
• Investor Education and Protection Fund shall be credited
 by the following
 – Unclaimed dividend ______________________ 6.04 2.83
• Interest accrued but not due on loans__________ 95.58 47.93

PROVISIONS:-

• For Current Income Tax (net of Advance Tax)___ 1,883.82 2,157.79


• For Proposed Dividend _____________________ 4,265.13 5,077.53
• For Tax on Dividend _______________________ 724.86 862.93
• For Gratuity_______________________________ – 14.37
• For Leave Encash__________________________ 106.36 119.13


INTERPRETATION:
•Current liabilities has increase 34.65 % in FY 2009 its big responsiblity to full fill by
current assets.

•Company should maintain the outstanding expenses in FY 2009 its increase 23.96%.

•Other liability has incerase 69.31%.it should be maintain by the company.


CALCULATION OF NET
WORKING CAPITAL:
 Net working capital=Current assets – Current
liabilities. (Rs. Lakhs)

As 31st March 2009
As 31st March 2008
• Total Current Assets______________________________ 48,454.72
50,210.69
LESS:

• Total Current Liabilites___________________________ (58,071.95)


(43,124.91)
Net working capital requirment (9617.23)
7085.78


INTERPRETATION:

• According this figure the net working


capital in FY 2009 require Rs
9617.23 lakhs.
• The position of current assets is not
able to recover the current liability
in FY 2009.
Current ratio= current assets /

current liability.
• FY 2008 : CR=50210.69 /43124.91
=1.16 :1
Binani Cement Ltd.
As
on 31st March 2009
COST CAPITAL:

• The capital cost envisagedfor establishiing the clinker


grinding unit in NEEM KA THANA (RAJASTHAN):

 S.NO. PARTICULARS
Rs in Lakhs.
• 1. land and site development
336
• 2. Building and & structures
2681
• 3. Plat and Machinery
5489
• 4. Other cost
1284
 TOTAL
9790__

 FINDINGS
“SWOT ANALYSIS” OF
BINANI CEMENT LINITED,
‘NEEM KA THANA’:
 STRENGTH:
• 3 MILLION TON PER ANNUM CLINKER GRINDING UNIT WHICH IS HELP
TO MAXIMUM OUT PUT AND DELIVER GOODS ON DEMAND WITH IN
TIME OF REQUIRMENT.
• ALL MACHINARY HAS CONTROLED BY COMPUTER CONTROL SYSTEM,
ONLY 1 EMPLOYEE CAN HANDLE VERY WELL AND RUN THE
MACHINARY. SAVING THE COST OF EMPLOYEE SALARY AND
SAVING TIME.
• RAILWAY LINE VERY STRONG POINT TO BRING THE CLINKER WHOLE
59 COACHS.
• THERE IS A MACHIN WHO UNLOAD 1-BY-1 COACH OF GOODS TRAIN
AND WITH IN 7 TO 8 HOURES ITS COMPLITLY UNLODED ALL 59
COACH FROM GOODS TARIN.
• BINANI INCREASES THE EMPLOYEE INCRIMENT WITH IN 18 MONTH.
• GOOD JOB SATISFACTION FOR EMPLOYEE.
• COMPANY HAS EARND GOOD PROFITS , SURPLUS & RESURVES BUT
NOT INVEST IN THAT AREA WHERE THEY WILL GET MORE
WEAKNESS & OPPRTUNITY:
WEAKNESS:
• NO DRESS COAD FOR LABOUR FOR EASY
TO IDENTIFY ,WHO IS COMPANY’S
WORKER AND WHO IS OUT SIDER?
• ONLY 5 MEMBER IN SECURITY.
OPPRTUNITY:

• COMPANY SHOULD ESTABLISHED MORE


PLANTS FOR MANUFATURING CEMENT
AND SAVE THE COST OF
TRANSPORTATION.
• COMPANY SHOULD DELIVER THE
ORDERS BY THE GOODS TRAIN.

THREATS:
• IN BALANCE SHEET SCHEDULE -5 THE
LONG TERM INVESTMENT AND
SHORT TERM INVESTMENT HAS NO
EFFECT .THE INVESTMENT WAS
SAME NO PROFIT AND NO LOSS.

 HOW ?

 COMPARISION WITH
OTHER COMPANIES:-
ANALYSIS
 Profit % Market Capital
 Ultra Tech Cement:- 15.20%. 28,059.80
 Ambuja Cement:- 16.96%. 20,781.94
 Acc :- 19.61%. 18,190.71
 Samruddhi Cement:- 14.40% 13,629.79
 Shree Cement :- 18.55% 7,131.18
 India Cement :- 09.31% 3,425.01
 Prism Cement :- 08.79% 2,987.42
 Birla Corp :- 25.34% 2,925.43
 Madras Cements :- 12.56% 2,711.66
 Chetinad Cement :- 07.07% 2,030.14
 Binani Cement :- 15.18% 1,640.04

ANALYSIS
LIMITATION
• Insufficent data.
• Schedule -5 not accurate data in
Balance sheet .
• Time constraint.
• Binani have certain rules and regulations.
• Binani does not provide practical knowledge
about finances.


CONCLUSION
• As compared Binani cement has very good
performance with his 2 units only. Binani
Cement Limited boasts of a fully
integrated cement plant, strategically
.BCL, a split grinding unit at Neem Ka
Thana to increase the capacity of the
cement facility to 6 mtpa . Binani Cement,
Shree Cement and Dalmia Cement are
among the new players who have plans to
get into the RMC business in the next
five years. It is recommend to ‘BUY’
Equity share in this particular scrip with a
target price of Rs.82.00. for Medium to
Long term Gains as it is seeing the




THANK YOU!

Você também pode gostar