INTERNSHIP REPORT

Submitted by:

ANEES HASSAN RAZA

MBFF15M-002

M.B.A. 3.5 Reg. (Finance)

NOON Business School

University of Sargodha, Sargodha

 ACKNOWLEDGMENT
At the very outset, I am very much thankful to almighty Allah for giving me
strength, courage and ability to accomplish the internship program as well as
the internship report in a scheduled time.

This report, based on 3.5-year study, is the part of MBA program, which helps
me to gather practical information, which is necessary for my future life. I
would like to express my deep respect to my honorable academic Professors,
Noon Business School, University of Sargodha for giving me his valuable time
and all the necessary guidance, which inspired me to prepare this report.

During this period, I have gone through the various departments of ICI
Pakistan Ltd. and especially gathered knowledge about the Accounts &
Finance department with their great cooperation. In preparing the report I
receive active cooperation from the AFM of the departments, Accounts
controllers, senior officers and staff of ICI Pakistan Ltd. I am grateful to the
Liberian of ICI Pakistan Ltd. who helped me by supplying many kinds of
necessary information. This report suffers from many shortcomings although I
have exerted my best effort while preparing this report. I seek excuse for the
errors that might have occurred in spite of the best of my efforts.
 EXECUTIVE SUMMARY

ICI (International Chemical Industry) Pakistan Ltd. is one of the major business
companies of Lucky Group. ICI Pakistan Ltd. has four major businesses. Among them
Soda Ash Khewra is one major business. ICI Pakistan Limited’s Soda Ash Business caters
to approximately 70% of the country’s total requirement for this commodity. Pakistan’s
domestic consumers of soda ash rely upon ICI Pakistan Limited as a trusted and reliable
supplier for high quality soda ash. The Soda Ash Business manufactures three different
products: Light Ash, Dense Ash and Refined Sodium Bicarbonate.

Spending a short period of 4 weeks with Pakistan’s one of the best known employer and
leading Company was a fantastic experience for me. I gained a handsome extent of
practical knowledge there. This all added a lot into my exposure and self-grooming. To
become successful in practical life, practical knowledge and experience is very much
important. Because course contents and lectures just give us theoretical concepts but not
practical knowledge. This is the basic reason why students of MBA are being given a fair
chance of getting practical knowledge and to complete the study process in a meaningful
way. This internship report is based on Four week working and performance in ICI
Pakistan Ltd. Soda Ash, Khewra Dist. Jhelum.

I mainly have incorporated my experience at ICI Soda Ash Business, Especially in Finance
Department. where I also have provided details about my 4-week work experience along
with a comprehensive job description where I had to work with many colleagues and
Assistant Finance manager (AFM). The project’s objective is to understand the Financial
activities of ICI and its dealing with customers and suppliers to gain some practical
knowledge during a short period of time. I included a list of their partners and competitors
who guide company to manage its business more effectively and efficiently. Two-year
financial performance, SWOT analysis and other relevant information of ICI is also given
in report. At the end, list of learnings working at ICI Finance Department and some
Suggestions & Recommendations are discussed for further improvement in organization.
 Contents

page #
CHAPTER-01
INTRODUCTION
1.1 Origin of the Report.................................................................................................................................02
1.2 Objectives of the Report .......................................................................................................................02
1.3 The Methodology of Report ...............................................................................................................02
1.4 Scope of the Report .................................................................................................................................02
1.5 Limitations of the Report.....................................................................................................................02

CHAPTER-02
“A Brief of ICI Pakistan Ltd”
2.1 History…………………………........................................................................................ 03
2.2 Mission &Vision. .............................................................................................................. 06
2.3 Core Values........................................................................................................................ 06
2.4 Objectives........................................................................................................................... 07
2.5 Our Brand........................................................................................................................... 07
2.6 Our Business.......................................................................................................................07
2.7 Competitors....................................................................................................................….09
2.8 Partners....................................................................................................................…..….. 09
2.9 Management Strategy………………………………………………………….…….……10
2.10 Company Profile……………………………………………………….…………..…….10
2.11 Financial Performance……………………………………………….………………….11
2.12 SWOT Analysis……………………………………..…………….………………….….12

CHAPTER-03
ORGANIZATIONAL STRUCTURE
3.1 Group Structure ................................................................................................................. 13
3.2 Organizational Structure.................................................................................................... 14
3.3 Corporate Governance Structure...................................................................................... 15
3.4 Humane Resource Deparment.......................................................................................... 16
3.5 Finance Department .......................................................................................................... 17
3.6 MIS Department ................................................................................................................ 18

CHAPTER-04
4.1 Learnings & Accomplishments.........................................................................................19
4.2 Conclusion........................................................................................................................... 19
4.3 Recommendation................................................................................................................ 20

Internship Report
1
Chapter # 01
INTRODUCTION
1.1 Origin of the Report
This report, based on three months’ study, is the part of MBA program, which helps me to
gather practical information, which is necessary for my future life. I would like to express my deep
respect to my honorable academic supervisors NOON Business School, University of Sargodha, for
giving me his valuable time and all the necessary guidance, which inspired me to prepare this report.

1.2 Objectives of the Report

The specific objectives of the report are to know in details about the operation of ICI Pakistan
Ltd. The project has been directed by the following objectives:
 Exploring that how Corona Group. Control their total financial activities.
 Exploring the performance of Corona Group.
 Exploring the emergence of ICI Pakistan Ltd. and its contribution to the other companies.
To apply the practical knowledge in this theoretical area.
 To know about the various kinds of product and service provided by Corona Group.
 Finally, to identify the findings regarding the investment activities or other relevant things
those are essential for the Companies and give some recommendations to overcome the
problems those are found.

1.3 The Methodology of Report

Research Approach: The project has been basically a descriptive type of research.
Data Collection Instruments: The study has been primarily based upon information
extracted from official documents. Interviews with the managers and officers of various departments
were also being conducted. On the other hand, secondary sources (WEB Site) were used to collect
data regarding the company and different kinds of papers, annual reports, etc. are the major
secondary sources.

1.4 Scope of the Report

The report covers the organizational structure, background, functions and the performance of
the ICI Pakistan Ltd. The scope of the study is just to acquaint with the operational scenario of ICI
Pakistan Ltd.
1.5 Limitations of the Report
There were some limitations of the study and therefore the report may lack some crucial data.
Such as;

 The general activities of Finance department are so vast. So that’s why they were not being
able to give me enough time.

Internship Report
2
  Time of my internship program was very short. So it was not possible to collect more
information within this short time.
 They did not provide me vast information because of their official obligations.
 All the information is not included in this report due to confidentiality of organization.

Chapter # 02

A brief of ICI Pakistan Ltd.

2.1 History of ICI

The origins of ICI Pakistan Limited predate the formation of Pakistan itself. From a small
trading concern with a single manufacturing unit, our Company transformed over the decades into
one of the largest industrial conglomerates of the country.

1944
 ICI establishes its first manufacturing site for the production of Soda Ash at Khewra.
1953
 The Khewra Soda Ash Company is incorporated as a public limited company
1965
 ICI Pakistan acquires Fuller Paints Limited
1966
 The name of Khewra Soda Ash Company changes to ICI Pakistan Manufacturers Limited
1968
 ICI Pakistan Manufacturers Limited commissions its Speciality Chemicals Plant in Karachi
1970
 ICI Pakistan Manufacturers Limited sets up a Pharmaceutical Factory in Naryanganj East
Pakistan.
 After 1971, the factory became part of ICI Bangladesh Manufacturers Limited
1973
 Fuller Paints changes its name to Paintex Limited
1982
 ICI Pakistan Manufacturers Limited sets up a Polyester Plant at Sheikhupura with a capacity
of 12,000 tons
1985
 Imperial Chemical Industries Pakistan (Private) Limited and Paintex Limited merge into ICI
Pakistan Manufacturers Limited
1987
 The company changes its name to ICI Pakistan Limited
1991
 ICI Pakistan Power Gen Limited is incorporated as a public limited company
1994
 ICI Pakistan increases capacity of Soda Ash Plant by 50,000 tons

Internship Report
3
1996
 ICI Pakistan increases Polyester Fiber capacity to 60,000 tons and Polymerization capacity to
91,000 tons
1998
 ICI commissions its PTA Plant at Port Qasim Karachi
2000
 PTA Business demerges to form a separate entity, Pakistan PTA Limited
2001
 Soda Ash Site completes Automation Cogeneration & Debottlenecking Project
2002
 ICI Pakistan increases capacity of Polyester Plant by 44,000 tons.
 The Pharmaceutical and Animal Health Segment was combined with the Agrochemicals and
Seeds Segment to form the company’s Life Sciences Business.
2006
 As a part of an asset modernization and improvement plan the Polyester Business
commissions a sixth processing line
2007
 ICI Pakistan completes 50,000 tons’ expansion of its Soda Ash plants
2008
 AkzoNobel, one of the largest coatings and chemicals company in the world becomes the
ultimate holding company of ICI Pakistan Limited
2009
 ICI Pakistan completes 65,000 tons’ expansion of its Soda Ash plant
 Polyester Site completes Cogeneration Project
 Pakistan PTA Limited is acquired by Lotte Worldwide Group
2010
 ICI Pakistan Foundation implements a PKR 50 million pan-country Flood Relief &
Rehabilitation Program providing food and medical care and constructing two villages for
affectees
2011
 AkzoNobel demerges the Paints Business into a separate legal entity, Akzo Nobel Pakistan
Limited
2012
 Lucky Holdings Limited acquires majority shareholding from AkzoNobel and becomes the
ultimate holding company of ICI Pakistan Limited
2013
 Coal Fired Boiler and Steam Turbine project initiated at Polyester site
 Launch of new corporate identity, vision and values
2014
 ICI Pakistan Limited signs an MOU with UniBrands (Pvt) Ltd. for investment in NutriCo
(Pvt) Ltd.
 M. Sohail Tabba is announced as Chairman of the Board of Directors
 Ground breaking of refined sodium bicarbonate expansion at Khewra
2015

Internship Report
4
  Inauguration of 18MW CFB 3&4 at the Soda Ash plant
 Commissioning of steam turbine project at Polyester
 New Dense Ash plant commissioned at the Soda Ash Business
 Nutraceuticals manufacturing facility commercialised
2016
 Hamqadam Community Clinic inaugurated in Khewra
 Impact gender diversity forum launched across the Company
 10% further equity participation in NutriCo Pakistan Private Limited bringing our total
shareholding to 40%
 Two new power and steam projects commissioned by the Soda Ash Business
 14 KTPA Refined Sodium Bicarbonate plant expansion
 Life Sciences Business, Animal Health Division enters into bovine genetics segment in
partnership with Cogent Breeding UK
 Launch of premium international skincare brand, Repavar by the Life Sciences Business,
Pharmaceuticals Division
 ICI Pakistan Limited successfully concludes acquisition of Cirin Pharmaceuticals (Pvt) Ltd.
2017
 joint venture company NutriCo Morinaga (Private) Limited is incorporated
 ICI Pakistan Limited completes the acquisition of certain assets of Wyeth Pakistan Limited
and Pfizer Pakistan Limited in accordance with the Asset Purchase Agreements
 MOU signed with CARE Foundation, one of Pakistan’s leading NGOs, for the management
of the Tibbi Harriya School, Sheikhupura
 The Life Sciences and Chemicals & Agri Sciences Businesses are restructured to house the
Agri. Sciences Division within the Chemicals & Agri Sciences Business for greater
synergistic focus
 Groundbreaking ceremony of the NutriCo Morinaga (Private) Limited manufacturing facility
is held in Sheikhupura
2018
 Successful commissioning of the 75,000 tons per annum (TPA) Soda Ash Plant capacity
expansion project in Khewra
 Inauguration of the state-of-the-art Chemicals Technical Centre at the West Wharf premises
in Karachi
 Second Hamqadam Mother & Child Community Clinic opens its doors in Sheikhupura
 ICI Pakistan Limited launches its first corporate film
 kind structured employee volunteer programme
 Launch of the ICI Pakistan Limited’s inaugural intrapreneurship programme the Explore
Challenge
 ICI Pakistan Limited signs a strategic partnership agreement with Huntsman Textile Effects

Eventually, ICI Pakistan Limited attained iconic status – known and trusted by generations
across Pakistan. Now, with a revitalised purpose and a new promise, we look forward to being
part of Pakistan’s future for many years to come.

ICI PAKISTAN Ltd. is one of the largest company in Pakistan; serving the Country for over
74years. ICI PAKISTAN Ltd. operates by the following Vision, Mission & Values:

Internship Report
5
2.2 Vision and Mission

VISION
As the partner of choice, we aspire to build our local and international footprint through
sustainable growth and by creating value for all our stakeholders

MISSION
“ICI Pakistan Limited continues to fulfill its promise of cultivating growth. Moreover, Our
company has held strong foundation for future growth with major expansion projects and
investments right across of diversified portfolio”

2.3 Core Values

Our values are what define us. They give us standards to measure ourselves by. They guide
us in our dealings – with customers, suppliers, our own people and the wider world. They are the
touchstone that we come back to, time and again.
We have embarked upon a journey of aspiration and now, more than ever before, it is
imperative that we stay true to our DNA by adhering to our value system.

Customer Centricity

We are committed to the success of our customers and their needs are at the centre of our
universe – we exist because of them.

Integrity and Responsibility

Ethical and responsible behavior is our license to operate. Uncompromising integrity in all
our dealings is the backbone of our DNA. We have a zero tolerance policy to violations of our code
and beliefs.

Innovation

To be responsive to the challenges of change and to new and existing opportunities, we need
to constantly come up with better, smarter and simpler solutions.

Passion for People

Our success is based on the multiplier effect of our people. Our passion for people drives us
to harness their energies, cultivate and nurture their talent, manage their wellbeing and, most
importantly, create a learning environment conducive for development and growth.

Delivering Enduring Value

Internship Report
6
 Delivering sustained growth and enduring value to benefit our shareholders, employees,
suppliers, customers and the communities in which we operate.

2.4 Objectives

 To achieve and continue growth in sales

 To continuously develop human resources
Provide our Consumers with the Best Service & Shopping Experience in the Country.
Provide our Consumers with Products of Latest Technology. Develop our Employees to
achieve their real potential. Provide our Shareholders with steady Asset Growth and Return
on investment above our Industry Norm. Grow our Revenue and Profits at a rate above the
Industry Norm.

2.5 Our Brand

The new ICI Pakistan Limited corporate identity centers around our brand promise,
Cultivating Growth.
Cultivating Growth is at the heart of all that we do. It is reflective of our unwavering
commitment to future growth and investment following the acquisition of ICI Pakistan Limited by
YBG.
Our new logo, the Blue Pearl, is the visual encapsulation of these
aspirations. After all, a pearl is the ultimate symbol of carefully cultivated
perfection. And so, it only made sense that a pearl formed the inspiration
for what developed into our new logo.
Designed to be boundless and dynamic, the Blue Pearl and its
accompanying visual identity are a representation of our confidence and
enthusiasm as we embark on an exciting journey of expansion, innovation
and growth; of the deeply-embedded values we live by; of the key strategic priorities that guide us;
and of the rich legacy that we draw on even as we set our sights on an even brighter and more
exciting future.

2.6 Our Businesses

Polyester

Scrunch it, stretch it and wash it – without any wear and

wrinkles. This is what polyester is famous for. Used in the
manufacturing of clothing and home furnishings, polyester has been
the fabric of choice for decades in a changing economy of speed,
efficiency and convenience.

The first polyester fibre, Terylene, was introduced to the

world by ICI in 1941. From the disco clothing of the 1970s to
today’s high-performance active sportswear and outdoor gear, polyester has maintained its popularity

Internship Report
7
throughout the decades.
ICI Pakistan Limited introduced this revolutionary product to the country by setting up its
Polyester plant at Shiekhupura in 1982. As pioneers of the polyester staple fibre technology in
Pakistan, we enable the cotton rich textile industry to diversify its products and be more competitive
in the international arena, where the growth of manmade fibers has been phenomenal.

Soda Ash

Not everyone knows what soda ash is. But without it, the
manufacturing of necessary materials such as glass, paper and
detergents would not be possible. You will even find this
versatile compound in your kitchen – in the form of baking
soda, used in delicious baked goods.
ICI Pakistan Limited’s Soda Ash plant can trace its roots
back to 1929, when the construction of the plant began, and
1944 when soda ash commercial production first commenced.
Through various expansion projects, the plant’s original
capacity of 18,000 tons per annum has increased to 425,000
tons, and by 2020, we expect it to become a half million-ton site.
The Business diversified its product range in 1950 and 1995 with the installation of dense ash and
refined sodium bicarbonate plants, respectively.
ICI Pakistan Limited’s Soda Ash Business caters to approximately 70% of the country’s total
requirement for this commodity. Pakistan’s domestic consumers of soda ash rely upon ICI Pakistan
Limited as a trusted and reliable supplier for high quality soda ash. We utilize indigenous raw
materials to ensure substantial foreign exchange savings through import substitution. Soda ash
produced at our Khewra plant is now regularly exported, earning valuable revenue for the national
exchequer.
Our Products
The Soda Ash Business manufactures three different products.
 Light Ash
 Dense Ash
 Refined Sodium Bicarbonate
“Today, soda ash consistently ranks as one of the top ten inorganic chemicals produced in the world
and is an essential raw material to a variety of industries.”

Life Sciences

At the heart of our Life Sciences Business is a clear and

compelling purpose: the mission of Improving Lives. Through
the Business’s Pharmaceuticals and Animal Health Divisions,
we’re promoting better health and wellbeing for people across
the country, and enhancing veterinary practices and nutrition in
the poultry and livestock industries. We strive to provide
products and services which enhance the science of life – on all
levels.

Internship Report
8
 We have a strong portfolio of well-researched leading brands and continue to diversify our
product range. So that whether you require advanced pharmaceuticals for your healthcare needs, or
superior cattle feed for your animals, we can ensure that you get the best.
We are committed to innovation and keeping ahead of the curve, with products and services
that draw on the newest research and latest advances. We want to make sure our customers’ trust in
us remains solid and that our brands remain synonymous with quality and consumer confidence.

Chemicals & Agri Sciences

We’re not exaggerating when we say our essential
chemical ingredients and Agri sciences products are a part of
your life at every step of the way. From food items to medical
applications, from crop and farming practices to sports shoes,
and from vehicle transmissions to the cooling and
refrigeration industries, we create and provide the vital
ingredients for many personal, household care, and industrial
products, as well as for agricultural uses.
Our Chemicals & Agri Sciences Business consists of
four Divisions: General Chemicals (GC), Polyurethanes (PU),
Specialty Chemicals (SC) and Agri Sciences. Through the
Chemicals Divisions (GC, SC and PU) we import, blend and distribute hundreds of products and
variants from international trading partners. The broad spectrum of products we market, or play a key
role in manufacturing, covers areas as diverse as adhesives, paints, insulation, and textile .
2.7 Competitors
ICI Pakistan Ltd. is an International Brand. Some local brand tries to compete the ICI
Pakistan Ltd. Main competitors of the ICI Pakistan Ltd. which are given below:
 FFC (Fuji fertilizer company limited)
 Engro Corporation
 Fatima Fertilizer
 Arkema
 Valspar paints
 PPG Industries
 Akzo Nobel
 Axalta coating system

2.8 Partners
Main partners of the ICI Pakistan Ltd. which are given below:
 Unilever
 Haier Group Corporation
 Pak Arab Refinery Ltd. (PARCO)
 Mobilink
 Philips
 Calariant
 Bata-shoes
 Service-shoes

Internship Report
9
2.9 Management Strategy

ICI Pakistan Ltd. consistently focuses on growth and risk minimization through product
diversification and increasing the market share of existing products by responding to changing
customer needs.
Strategy: A Proper strategy is important to the success of a business. Strategy to sale the
products are- Push Strategy: Push strategy requires pushing the dealers to sale the products on their
own responsibility. Sales of our products largely depend on the dealers. Dealers convince the
customers to buy our products. In this case dealers take the responsibility to publicize the product to
sale. They also do it to achieve their own sales target given by CTL. Pull Strategy: Pull strategy
requires creating a demand of the product in the mind of the customers by advertisements and other
promotional activities.

2.10 Company Profile

 Head Office Karachi (Sindh)

 Regional Offices Peshawar, Islamabad, Faisalabad, Sahiwal, Multan, Sukkur,

Hyderabad

Soda Ash Business

Address: Soda Ash Business Khewra dist. Jhelum 49060

Contact: T+92 544 231 495-99

F +92 544 231 803
UAN 111 100 200

Internship Report
10
2.11 ICI Financial Performance
July to June

Rupees in Million 2016-17 2017-18 Growth %

Total Assets 36,156 43,148 19.3%

Total Equity and Revaluation Reserve 16,928 18,081 6.8%

Current Liability 12,985 14,819 14.1%

Non-Current Liability 6,243 10,248 64.1%

Total Equity and Liabilities 36,156 43,148 19.3%

Profit Before Taxation 4,394 3,650 -16.9%

Profit After Taxation 3,296 3,060 3.7%

Market Value Per Share 1,094.55 801.50 ------

Earnings Per Share – Rupees 35.69 33.13 25.6%

Operating leverage ratio– Rupees 3.13 3.34 -5.8%

Debt to equity– Rupees 32.81 50.88 13.3%

Return on Equity - % 19.47 16.92 ------

Return on Asset - % 9.12 7.09 ------

Profit After Tax - % 15.93 (7.17) ------

Internship Report
11
2.12 SWOT Analysis

Strengths
• Supplying products
to almost every Oppurtunities
industry in thecountry Threats
• Expansion into the
• Strong brand equity consumer market with • Volatile
theestablishment of international raw
•Geographical material and fuel
presence in local and Weaknesses NutriCo Morinaga
(Pvt.) prices and
international markets •Dependence on government levies
consistent supply of Ltdmanufacturing
• Increasing base in facility with a 51%
the pharmaceutical imported key raw
materials, such as stake
market with • Volatility of
acquisition of PTA, coke and MEG exchange rates
manufacturing • Establishment of a
facilities • Dependence of Masterbatch
•Depleting natural
•Qualified and major operating manufacturing facility
resources, e.g. gas
committed human segments on fuel to cater to expanding
resources sources such as coal, demand for colorant
gas and furnace oil used for plastics. • Dumping of
•Leading
imported products
manufacturing
concern with over 70 •Increasing
years of successful opportunity to export • Political uncertainty
operations various products
• Leading soda ash
producer

Internship Report
12
Chapter # 03

3.1 Group Structure

Lucky Holdings Limited.

ICI Pakistan Limited

ICI Pakistan Cirin Pharmaceuticals

Power Gen Limited (Private) Limited

NutriCo Morinaga
(Private) Limited

Internship Report
13
3.2 Organizational Structure

Chief
Executive

Chief Financial Corporate Technical

Officer
.

Strategy & Business Soda Ash Business

Development

Humane Resources Life Science Business

Company Secretariat, Chemical & Agri

Legal & Corporate Sciences Business

Communications

Polyester Business

Internship Report
14
3.3 Corporate Governance Structure of ICI Pakistan Limited

Shareholders

Board

Share Transfer HR & Remuneration

Committee
Committee

Audit Committee Banking Committee

External Audit

Internal audit

Chief Executive

Businesses Functions

Internship Report
15
3.4 Human Resource Department
Creating a complement and healthy working environment, ICI Pakistan Ltd. values its
Human Assets and committed to their growth and prosperity. The success of any business
organization depends on the quality of its human resources i.e. their caliber and commitment. ICI
Pakistan Ltd. is committed to ensure that the Company is capable of continued growth and
profitability by satisfying customers' needs and to provide employees with high level of job
satisfaction. Consequently, Company's personnel initiatives are designed to encourage open
communication, creativity, innovation and initiative. Because the Company believes well trained and
proactive employees with high level of job satisfaction will ultimately contribute to the increase in
profitability of the Company.

HUMAN RESOURCES
DEPARTMENT

HR
ADMINISTRATION TRAINING LEGAL
MANAGEMENT

Major functions of this department are:

 Handling recruitment & selection, training & development, job review, Performance
appraisal, employee relations, and disciplinary issues in Accordance with relevant policies,
procedures.
 Recruiting, transferring, promoting and terminating of employee.
 Arranging training both in-house and outside.
 Personnel policy evaluation and implementation.
 Maintaining protocol, counseling and discipline of organization.
 Legal aspects.
 Recording employee’s salary, leave administration and annual performance evaluation.
 Formulating HR policies and procedures.
 Ensuring the departmental policies is competitive within the Company.
 HR planning and budgeting.
 Handling employee disciplinary actions and or separations i.e. termination, Discharge,
dismissals and voluntary separations.
 Managing Performances and ensuring evaluation of all employees.
 Handling grievances of employees.
 Check & calculate Allowances for applicable cases to include in monthly Payroll.

Internship Report
16
3.5 Finance Department
This division is responsible for ensuring optimum and most efficient uses of the company's
resources through various controlling and monitoring activities. It is headed by the Controller &
Finance Director, and consists of the Audit, Corporate Affairs, Credit, Commercial, MIS and
Accounts. However, the last four units are reportable to the Chief Accounts Manager, who is himself
reportable to the Controller. There have a lot of activities of individual department. The following is
the organization chart of the department:

CONTROLLER & FINANCE

DIRECTOR

FINANCE & COMMERCIAL INTERNAL CORPORATE

MIS CREDIT
ACCOUNTS & LOGISTICS AUDIT AFFAIRS

Finance & Accounts:

In the finance & accounts department they are responsible for control cash flows operation.
They are responsible for makes sure that, the operation running smoothly. Their general activities are
describing below:
Accounts division creates and maintains records of company transactions for both internal
and external audiences. The Accounts unit may be considered a department by itself, for it has the
following functional units - Sales Accounts, Costing & Inventory, Payables, Cash Management,
and General Ledger.
The company accounts represent the financial statements. The investment in associate
companies was accounted under the cost method. The carrying value of associate company
investments is shown at cost and only dividend income received from associate companies is
recognized as income.
Commercial & logistics:
In the commercial & logistics department they are responsible for control all import
transactions and opening of L/C operation. They are responsible for makes sure that, the operation
running smoothly. Their general activities are describing below:

 Requisition for order

 Purchase of product
 L/C Opening
 Select L/C opening Bank
 Insurance
 Warehouse

Internal Audit department:

In the internal audit department, they are responsible for control to reduce variance of income
and cost operation. They are responsible for Keeping close watch on irregularities (if any) & taking
prompt actions. Coordination with all locations to identify phased out /defective/ obsolete products,

Internship Report
17
spare parts & prompt disposal. They are responsible for makes sure that, the operation running
smoothly. Their general activities are describing below:
REGULAR AUDIT AT:

 Sales Agent
 Corporate Offices
 Warehouses
 Service Centre
 Manufacturing Units

Corporate Affairs:
In the corporate affairs department, they are responsible for control all company related
secretarial matters operation. They are responsible for makes sure that, the operation running
smoothly. Their general activities are describing below

 Company Legal Issues

 Statutory Accounts & Dividends
 Corporate Tax & Other Taxes
 Fixed Assets Management
 Treasury Functions
 Board Meeting Issues

3.6 MIS Department

Management Information System (MIS) section presents SAP (Enterprise Resources
Planning) for less time consume. SAP is a new division which deals with computerized financial data
transaction within the organization. And shortly MIS will bring online record transaction.
SAP encompass a wide range of software products supporting day-to-day business operations
and decision making. SAP serves many industries and numerous functional areas in an integrated
fashion attempting to automate operations from supply chain management, inventory control,
manufacturing scheduling and production, sales support, customer relationship management,
financial and cost accounting, human resources and almost all other data-oriented management
process.

Internship Report
18
Chapter # 04

4.1 Learnings & Accomplishments

There is a software name as SAP used by ICI that gives a comprehensive
picture for external accounting,

Functions of SAP:

SAP stores business transactions into different accounts that are designated
by type of transaction and category. Income and expenses are two types of
transactions stored in accounting software. Examples of categories include payroll
costs and office supplies. A complete list of all transactions recorded by type and
category is referred to as the general ledger.

I Learn How to perform following tasks in SAP:

 How to process transport bilties of for cash payment?
 How to create new vender account in SAP?
 How to alter vender account in SAP?
 Cash voucher preparation
 Handling scrap sale and making monthly sale report
 Handling of Goods in transit (reclaim and insurance)

Other than SAP, MS Excel is also used and beneficial in ICI for following
purposes:
 Preparation of list related inventory count for items having value more than
Rs. 10,000.
 Preparation of items with summery of physical inventory count for write-off
or write-in for stocks.
 Update the file of WAPDA bills.

4.2 Conclusion
The analysis of the firm’s financial statements consists of mixture of steps and pieces that
interrelate and affect each other. No one part of the analysis should be interpreted in isolation. Short
term liquidity impacts profitability; profitability begins with sales, which relate to the liquidity of
assets. The efficiency of asset management influences the cost and availability of credit, which
shapes the capital structure. Every aspect of a firm’s financial condition, performance, and outlook
affects the share price. The last step of financial statement analysis is to integrate the separate pieces
into a whole, leading to conclusions about the business enterprise. The specific conclusions drawn
will be affected by the original objectives established at the initiation of the analytical process.

Internship Report
19
4.3 Recommendations
So there have some weaknesses that act as barriers for being better performance of Corona
Group. If the company can reduce this kind of barriers, company can be successes. So they can take
some actions to recover those barriers that are:

 Have to can increase sales

 Company must follow the chain of command
 To make effective salary structure
 Have to reduced short term loan
 Have to reduced new store expansion Because if it increases more in a year, the expenses of
lease payment are increasing too.

The managerial performance of Corona Group is also very good but for better in future they can
take some action which are given below:

 Adaptation of more advance technology in their production process.

 Improvement of compensation structure for the staffs and employees.
 Uses of Modern updated software’s in all departments for accomplishing the task which I
think will make the work more effective and efficient. It will also save a lot of time and
energy.
 Evaluation for the good performance of the employees by introducing award and incentives.
 ICI Pakistan Ltd. should try to perform some social responsibility like establishment of
Hospital, providing medical facility to any rural areas for particular period of time etc.
 ICI Pakistan Ltd. should improve its existing distribution system.
 Delivery schedule should be modified, i.e., the number of weekly delivery should be
increased according to the demand and expectations of the dealers.
 More surveys can be done in order to identify more deeply the causes of poor performance
and other areas of flaws.
 Customers’ database should be maintained using software that is more sophisticated so that
existing road map/plan can easily be modified anytime.
 Modern and versatile software should be used to run the process of keeping records and
invoices so that anytime a recheck can be possible.
 Crosschecking of every records and activities should be introduced and practiced.
 Beside distribution, Corona Group should concentrate on improving the other areas of
operation as well.

Internship Report
20