A Report on Comparative Analysis of Working Capital Management of Two Indian Cement Manufacturing Companies”

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A REPORT ON

“COMPARATIVE ANALYSIS OF WORKING CAPITAL MANAGEMENT OF TWO INDIAN CEMENT MANUFACTURING COMPANIES”

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A REPORT ON

“COMPARATIVE ANALYSIS OF WORKING CAPITAL MANAGEMENT OF TWO INDIAN CEMENT MANUFACTURING COMPANIES”

BY SWETA SINGH

DATE OF SUBMISSION: 11.02.10

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. The report on “COMPARATIVE ANALYSIS OF WORKING CAPITAL MANAGEMENT OF TWO INDIAN CEMENT

MANUFACTURING COMPANIES” is her original work and the same has not been submitted prior to this in any form.

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ACKNOWLEDGEMENT
As I sum up this final report, I appreciatively reminisce the contribution of all those individuals who have been instrumental in the successful completion of this project.

I am deeply indebted to my faculty guide Dr. P.R.Kulkarni whose constant guidance and encouragement served as a beckon of light & crowned my efforts with success. He has been a mentor for the successful completion of this research report within the time-frame, whose patience & faith in my abilities always boosted my confidence. He provided me valuable suggestions and timely guidance for the analysis and interpretation of findings.

I would like to thank my family and friends for their constant support and encouragement throughout this project.

However I accept the sole responsibility for any possible errors of facts or judgments and would be extremely grateful to the readers of this project if they bring such mistakes to my notice.

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DECLARATION
I do hereby state that this final project entitled “COMPARATIVE ANALYSIS OF WORKING CAPITAL MANAGEMENT OF TWO INDIAN CEMENT MANUFACTURING COMPANIES” is submitted to IBS Mumbai in partial fulfillment of the requirement of MBA program for class of 2010.

The project has been done under the able guidance of Dr. P.R.Kulkarni (Faculty Member, ICFAI Business School, Mumbai)

The work done is original and has not been reported or previously submitted in part or full, by any other person.

It may be further stated that in the preparation of this project, some aid has been taken from a pool of professionally shared knowledge, a detailed description of which has been mentioned in the references section of this report.

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TABLE OF CONTENTS
A. ABSTRACT 1. INTRODUCTION 1.1 1.2 WORKING CAPITAL MANAGEMENT CEMENT INDUSTRY IN INDIA – PAST PRESENT & FUTURE 1.3 IMPACT OF UNION BUDGET „09-10 ON THE CEMENT INDUSTRY 1.4 BASIS FOR SELECTION Of ACC & ULTRATECH CEMENT FOR THE COMPARATIVE STUDY 2. LITERATURE REVIEW 3. METHODOLOGY 4. ACC CEMENT 4.1 COMPANY BACKGROUND 4.2 COST SHEET FOR 2005-08 4.3 WORKING CAPITAL CYCLE FOR 2005-08 5. ULTRATECH CEMENT 5.1 COMPANY BACKGROUND 5.2 COST SHEET FOR 2005-08 5.3 WORKING CAPITAL CYCLE FOR 2005-08 6. INTERPRETATIONS & ANALYSIS 7. CONCLUSIONS & FINDINGS B. REFERENCES 17 19 20 20 21 23 24 24 25 27 28 37 38 16 15 7 10 11 14

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A. ABSTRACT
Cement industry is one of the important industries to the country‟s development in the light of it being an important basis for the construction industry and also an important indicator showing domestic economic growth. Cement Industry originated in India when the first plant commenced production in 1914 at Porbandar, Gujarat. India is the second largest producer of cement in the world after China. The cement industry is experiencing a boom on account of the overall growth of the Indian economy. The demand for cement, being a derived demand, depends primarily on the industrial activity, real estate business, construction activity, and investment in the infrastructure sector. India is experiencing growth on all these fronts and hence the cement market is flourishing like never before. Indian cement industry is globally competitive because the industry has witnessed healthy trends such as cost control and continuous technology up-gradation. Global rating agency, Fitch Ratings, has commented that cement demand in India is expected to grow at 10% annually in the medium term buoyed by housing, infrastructure and corporate...
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