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At Essar Projects Decides the Level at Which the Cash Is Maintained

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At Essar Projects Decides the Level at Which the Cash Is Maintained A Summer Project Report On “GENERAL MANAGEMENT” AT ESSAR PROJECTS (I) LTD., Vadinar Submitted to R. D. Gardi Institute of Business Administration Saurashtra university Guided By Mr. Pankaj Agarwal (Head of Department, Finance) Co guide Mital Raithatha Faculty Guide Dr. Pratap Sinh Chauhan (Head of Department and Associate Professor, R. D. Gardi Institute) Prepared By Praveen Chanpa (MBA Semester-3 Student) LIST OF CONTENT Sr. Content Page no no. 1 Certificate form faculty guide 2 Declaration 3 Acknowledgement 4 Executive summery 5 History 6 Mission and vision 7 Profile 8 Essar Group 9 Operations 10 Finance Ratio analysis Cash management Banking transaction Inventory management SAP 11 Human resource management General information Recruitment process Interviews at EPL Induction program Welfare facility and safety 12 SWOT analysis 13 Bibliography CERTIFICATE This is to certify that Mr. Praveen Chanpa MBA semester 3 student of Ruxmaniben Deepchand Gardi institute of Business Administration Saurashtra University, Rajkot has done summer internship from Essar Projects (I) Limited. He successfully completed his project under my guidance. Date: Place: (Faculty Guide) DECLARATION I Praveen Chanpa, Student of Master of Business Administration, declare that the summer internship project entitled to me in EP(I)L under the guidance of Mr. Pankaj Agarwal is my own work and all information given in this project is true and correct to the best of my knowledge. ACKNOWLEDGEMENT I am very much thankful to the management of Essar Projects (I) Limited for permitting me to go through my summer training. I express my heartfelt gratitude and thanks to Mr. Pankaj Agarwal, Head of Department (Finance) EP(I)L Vadinar for his constant encouragement, guidance and advice at every stage of my training. I am extremely thankful to all the employees of EP(I)L, who has provided me a kind and nice environment for making my training successfull. I am also thankful to the college for providing me good opportunity in management field. Suggestions for improvement are invited and would be thankfully accepted. PREFACE The construction industry is the second largest industry in India after agriculture. It accounts for about 11% of India’s GDP. It makes significant contribution to the national economy and provides employment to large number of people. There are mainly 3 segments in the construction which includes residential and commercial construction, infrastructure building which includes roads, railways power etc, and industrial constructions that consist of oil and gas refineries, pipelines, jetties textiles etc. According to study by ASSOCHAM the burgeoning Indian construction industry, currently worth $70 billion, will rise to US $ 120 billion by 2010. Essar is high performance multinational organization, providing world class services and products. Delighting millions of customers daily home to a dynamic team of employees. A committed corporate citizen, enriching the community. Those are just some ways to describe the Essar group. The group has as enterprise value of US $ 15 billion and employees over 500000 people across the world. Company emphasis on massive investment and high value addition has catapulted into a powerful phase of rapid growth businesses span a wide variety of industries right at the heart of the economy ie steel, energy, power, communications, shipping, ports and logistics and projects. Essar is also venturing into new businesses in the verticals of mining, reality, infrastructure and financial services. In every one of these major industries, company’s goal is a market share of 20 percent or more. Executive Summery The report presented in “ESSAR Group” and working of ESSAR POJECTS INDIA LTD” at Vadinar Site. ESSAR group of industries owned by the Ruia brothers is engaged in high priority sectors like oil refining, steel, shipping, construction, telecom, BPO and financial services. ESSAR POJECTS INDIA LTD is the company that made the project ESSAR Oil Ltd Refinery, Vadinar a success. Basically this company performs most of the construction work for refinery at Vadinar, 39km from Jamnagar. It is also involved in the construction of new deep water port near to the refinery capable very large crude services (VLCS). To develop nation like India it constructs road & bridges & development of real estate has always been a priority sector. ESSAR has contributed to those from many years from pipelines to parts from industrial projects to intelligent buildings & own to canals, township, highways etc. ESSAR POJECTS INDIA LTD as a rich & varied track record as a premier construction. This report will give you idea about how this company EPIL is managing their working capital and also comparison with peer company analysis has also done in this project. ESSAR GROUP HISTORY The Ruia family’s origins are in Rajasthan. Sometime in the 19th century, they moved to Mumbai and set up their own business. In 1956, Mr Nandkishore Ruia, father of Mr Shashi Ruia and Mr Ravi Ruia, moved to Chennai, capital of the south Indian state of Tamil Nadu, to begin independent business activities. He mentored his two sons in the intricacies of business. When Mr Nandkishore Ruia passed away in 1969, the brothers laid the foundation of the Group. The Essar Group began its operations with the construction of an outer breakwater in Chennai port. It quickly moved to capitalize on every emerging business opportunity, becoming India’s first private company to buy a tanker in 1976. The Group also invested in a diverse shipping fleet and oilrigs, when the Government of India opened up the shipping and drilling businesses to private players in the 1980s. Then, in the 1990s, Essar began its steelmaking business by setting up India’s first sponge iron plant in Hazira, a coastal town in the western Indian state of Gujarat. The Group went on to build a pellet plant in Visakhapatnam, and eventually a fully integrated steel plant in Hazira. Through the 1990s, with the gradual liberalization of the Indian economy, Essar seized every opportunity that came its way. It diversified its shipping fleet, started oil & gas exploration and production, laid the foundation of its oil refinery at Vadinar, Gujarat, and set up a power plant near the steel complex in Hazira. The construction business helped the Group build most of its business assets. Essar also entered the GSM telephony business, establishing India’s first mobile phone service in Delhi (branded Essar Cellphone) with Swiss PTT as the joint venture partner. The 21st century for the Essar Group has been all about consolidating and growing the businesses, with mergers and acquisitions, new revenue streams and strategic geographical expansion. MISSION AND VISION Our vision We will be a respected global entrepreneur, through the power of positive action. Our mission We are committed to innovative growth, through our personal passion, reinforced by a professional mindset, creating value for all those we touch. Our spirit The Essar Group has changed significantly in recent years and continues to evolve, to keep pace with the changing times. We have undertaken a sustainable journey of transformation by foraying into new international markets, and exploring new business areas in a bid to keep our entrepreneurial spirit alive, and to continue growing. To mark the phenomenal growth witnessed over the last four decades, the Group recently unveiled its new brand identity marking a very important milestone in its journey and reflecting a new beginning for the Group. A new brand identity reinforces all the positives to fulfill our vision to be a global entrepreneur through the power of positive action. We aim to have a robust value system comprising positive attitude, positive action and positive achievement. We endeavor to create enduring value for customers and stakeholders in core manufacturing and service businesses, through world-class operating standards, state-of-the-art technology and the ‘positive attitude’ of our people. Privately owned and professionally managed, the Group is judiciously invested in the commodity, annuity and services businesses. Forward and backward integration, the use of state-of-the-art technology, in-house research and innovation have made Essar Global a force to reckon with in each of its businesses. Finally, the Essar way is all about keeping its entrepreneurial spirit alive, and to keep growing with a passion to progress and the power to succeed with a renewed strength of purpose and commitment. PROFILE The Essar Group is a multinational conglomerate and a leading player in the sectors of Steel, Oil & Gas, Power, Communications, Shipping Ports & Logistics, Construction and Minerals. With operations in more than 20 countries across five continents, the group employs 60,000 people, with revenues of about USD 15 billion. Essar began as a construction company in 1969 and diversified into manufacturing, services and retail. Over the last decade, it has grown through strategic global acquisitions and partnerships, or through Greenfield and Brownfield development projects, capturing new markets and discovering new raw material sources. Today, the Group continues to expand its global footprint, focusing on markets in Asia, Africa, Europe, the Americas and Australia. Essar invests significantly in the latest technology to drive forward and backward integration in its businesses, and on leveraging synergies between these businesses. It also focuses on in-house research and innovation to be a low-cost manufacturer with high quality products and innovative customer offerings. Alongside its ambitious business pursuits, Essar has been committed to its social responsibility. The Group runs community outreach initiatives in all its plant locations, with a focus on education, healthcare, environmental and agricultural development, and self- employment. Essar is committed to sustainable business practices. Our HSE (Health, Safety and Environment) management system is on par with global standards. We are also taking climate change initiatives to reduce our carbon footprint. This includes several CDM (Clean Development Mechanism) projects that can earn the company CER (Certified Emission Reduction) credits.
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