Project on Bhilai Steel Plant

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A REPORT

ON

WORKING OF FINANCE WITH REFERENCE TO CAPITAL BUDGETING

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BHILAI STEEL PLANT

ACKNOWLEDGEMENT

We express our sincere thanks & regards to Bhilai Steel Plant, for giving us the opportunity to study on the topic “Working of finance with reference to capital budgeting”. First and foremost we express our hearty thanks to our co-ordinator Mr. S.S.Kshatriya (Manager, Finance Expansion) for his guidance. We also express our sincere thanks to all the heads of concerned sections of finance department, Mr.G.V.Rao, Mr.N.Tamilarasan and Mr.A.Kashipati Rao for their kind cooperation in this project work. We are also thankful to all the staff of Bhilai Training Institute & HR department for their kind cooperation to complete this project work successfully.

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CERTIFICATE

This is to certify that Muktesh Kanhe students of FORTUNE INSTITITE OF INTERNATIONAL BUSINESS, NEW DELHI has completed their field work report at BHILAI STEEL PLANT on the topic REPORT ON WORKING OF FINANCE WITH REFERENCE TO CAPITAL BUDGETING and has submitted the field work report in partial fulfillment the requirement of 2 Year Full Time Post Graduate Diploma in Management (PGDM) for academic year 2008-10. They have worked under our guidance and direction. The said report is based on bonafied information. I wish them best of luck for their future.

S.S.Kshatriya MANAGER (Finance Expansion) BHILAI STEEL PLANT

Index

1. INTRODUCTION………………………………………………………………… 6

2. STEEL AUTHORITY OF INDIA LIMITED (SAIL)…………………………... 8

3. BHILAI STEEL PLANT (BSP)…………………………………………………... 23

4. STATEMENT OF OBJECTIVE…………………………………………………. 32

5. FINANCE AND ACCOUNTS DEPARTMENT OF BSP………………………. 33

6. PROJECT FINANCE AND ACCOUNTS………………………………………. 35

7. CAPITAL BUDGETING………………………………………………………….. 48

8. CONCLUSION……………………………………………………………………. 63

9. BIBLIOGRAPHY ………………………………………………………………… 64

INTRODUCTION There’s a little bit of SAIL in everybody’s life….
“STEEL is the basic framework which has built nations, and it is on this strength that nation stand apart. This manmade metal has an extraordinary quality of contributing to every aspect of life. While it keeps the wheels of industry turning. It also lends ever-lasting quality to all kinds of structure and infrastructure.” ‘SARDAR VALLABBHAI PATEL’ This project has been undertaken to study the procedures and practices followed in Project finance and accounts which included the capital budgeting, project concurrence, zonal accounts and work completion and Import section from time to time. Bhilai Steel Plant exports its products to various countries around the world and also imports items like Coking Coal, Minor Raw Materials, Stores & Spares and Capital Plant & Equipments from around the globe. This report is prepared on the basis of the extensive study carried out at Finance & Accounts Department of SAIL, Bhilai Steel Plant. Changes are inevitable with the passage of time. So is the case with the functions of Finance & Accounts Department of any organization. This department is gradually assuming advisory role to management apart from its basic function of financial management and book keeping. The F & A Department of Bhilai Steel Plant is divided into various sections and each section specializes in different activities. In project Finance and Accounts Import Accounts Section deals with the entire activities relating to import of goods and services , involving transaction in foreign currency.

HISTORY

During...
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