PROJECT REPORT ON

ORGANISATIONAL STUDY OF HPCL NAGAON PAPER MILL

PREPARED BY RAKESH DEKA

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NSB, NEW DELHI

ACKNOWLEDGEMENT

The project work entitled ORGANISATIONAL

STUDY OF HPCL,

NAGAON PAPER MILL

has been the product of cumulative effort and teamwork of many valuable persons who have been instrumental in making it a successful one. I take the opportunity to thank all these people for their valuable support and contribution during the project period.

First and foremost, I avail this opportunity to thank my project guide Mr. AB Sing Rathor and Mr. Sunil Pathok, Organizational guide Nagaon Paper mill for their guidance and affection and encouragement, they have bestowed upon me. I wish to express my heart-felt thanks for all they have done for me.

Rakesh Deka. Student of MBA 2nd semester NIILM School of Business New Delhi

DECLARATION
I hereby declare that this project report entitled-ORGANISATIONAL

STUDY OF HPCL, NAGAON PAPER MILL); is an independent work

carried out by me from 20th April to 3rd June, 2011. To the best of my knowledge and belief, it is a bona fide piece of work and is the sheer outcome of my own efforts and has not either in full or in part has been submitted to any other Organization, University or Institution for the award of any Degree, Certificate or Diploma elsewhere.

Thanking You,

Ms. Rakesh Deka Roll No: GJU 243 NSB, New Delhi

Table of contents Executive Summary: Page No:

Introduction Aims and Objectives Scopes Limitations Data Collection Analysis Abstract Recommendation

1-3 6 7 8 9 10 11 12

Project Overview
Introduction to the company Organizational structure & Map Introduction to the finance department Inventory management Working Capital Management Profit and loss account Balance Sheet Cash flow statement Ratio analysis Export orientation Research methodology 13-22 23-24 25-44 45-47 48 49-51 52-54 55-56 57-59

Research finding Questionnaire Suggestion

EXECUTIVE SUMMARY
EXECUTIVE SUMMARY

Project Title

: ORGANISATIONAL STUDY OF HPCL,

NAGAON PAPER MILL

Duration of study Place of study Name of the Company Organisational guide Major project Methodology Major findings : 20th April to 3rd . June, 2011 : Kagajnagar, Morigaon ,Assam : Hindustan Paper Corporation Ltd. (Nagaon Paper Mill) : Mr. A B sing Rathor : ORGANISATIONAL STUDY OF HPCL, NAGAON PAPER MILL : A structured questionnaire was developed and administered among the selected sample for effective analysis. : Most of the employees are satisfied with the previous appraisal ratings. : Most of the employees are aware of the appraisal system at HPCL. : Most of the employees think that performance appraisal try to focus the future rather than the past.

Major suggestions

The job and role expected from the employees should be decided well in advance and that too with the consensus with them. The time period for conducting the appraisal should be revised, so that the exercise becomes a continuous 5

phenomenon.

AIMS AND OBJECTIVES

To study the hierarchy of hindustan paper corporation ltd. To find out the history of hindustan paper corporation ltd. To study the performance appraisal of hindustan paper corporation ltd.

SCOPES
The area of study of this project will be the analysis of the Performance Appraisal of Hindustan Paper Corporation Ltd. The study will be mainly concentrate on the Performance Appraisal Policy of Hindustan Paper Corporation Ltd. The key focus areas of the study will be to assess the preference of the youths to while going to Performance Appraisal in the Hindustan Paper Corporation Ltd.

LIMITATIONS

Time Constraint : The time for undertaking the project will be limited and need to be completed within the stipulated period which will make it difficult for analyzing each and every sphere involve in the research. Cost Constraint : The cost involved in the research will have to be minimized because conducting research will be costly. Geographical Constraint : It will also be one of the limitations. As to all and it will not be possible to carry it out elsewhere. Others Constraint : Every study faces this short coming of respondent bias. Respondent sometimes are non-responsive and their moods and behaviors are hard to predict which may not give accurate results.

DATA COLLECTION

DATA WILL BE COLLECTED FROM PRIMARY. SECONDARY AND TERITAIRY SOURCES. BUT THE EMPHASIS WILL BE GIVEN ON PRIMARY DATA. PRIMARY DATA: PRIMARY DATA, WHICH ARE THE MAJOR SOURCE OF INFORMATION FOR THE PROJECT, WILL BE COLLECTED BY WAY OF PREPARATION OF WELL-STRUCTURED QUESTIONARIES AND PERSONAL INTERVIEWS AND OBSERVATIONS WILL BE CONDUCTED TO COLLECT THE STUFF AND CANDIDATE, THROUGH THIS QUESTIONARIES. SECONDARY DATA: TO MAKE THE STUDY BETTE,. SECONDARY DATA WILL ALSO BE COLLECTED BY WAY OF EDITORIALS, JOURNALS OR EXTRACT FROM MAGAZINES AND NEWSPAPERS. TERTIARY DATA: A MASSIVE AMOUNT OF INFORMATION WILL BE ACCUMALATED FROM VARIOUS RELATED WEBSITES IN INTERNET.

DATA ANALYSIS
DATA ANALYSIS WILL BE DONE AND IS IMPORTANT FOR ANY PROJECT BECAUSE THE RAW DATA IS OF NO USE AND DOES NOT CONVEY THE AWARENESS AMONG THE YOUTHS.

ANALYSIS

A pilot project was made before the research was conducted through a well prepared questionnaire to study impact of Performance Appraisal of HPCL. Information required to carry forward the project was collected from the employee and records. Primary data was collected through interviews questionnaire and personal observations. Secondary data was collected from official records. Tertiary data was collected from internet. On collecting all primary data through Questionnaire, the responses of the question covered under each of the objectives are analyzed by statistical means separately. Total sample was taken was as 30 and due responses have been got from all 30.

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ABSTRACT

Information has become an important asset required by an organization to carry out its process of management. The basis for taking both programmed & nonProgrammed decision in Information. Today, computerized processing of transaction data is a routine activity of almost any organization. Every organization refers and efficient system that allows management to take decision based on information gathered for the purpose. The project assigned to me is computerizing the existing system

ORGANISATIONAL STUDY OF HPCL, NPM

. The system is mainly related to management of Investment and Marketing Processes. The main objective of the computerize ORGANISATIONAL STUDY OF HPCL, NPM is to provide accurate and relevant information in a meaningful form in the appropriate time frame for taking decision quickly and efficiently by the Management / Authority of the said company.

Rakesh Deka

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RECOMMENDATIONS
We intend to study the impact of PERFORMANCE APPRAISAL SYSTEM on internal employees of HPCL (NPM), which we are assuming that it needs to be compulsory for all employees and associates in any organization. We also believe that the impact of ORGANISATIONAL STUDY should be given more importance with effective mode and methodology to be adopted on an on-going process.

Researcher feels that the frequency of such SYSTEM should be maintained Yearly. Further, each training session should have a follow-up to measure the investment that each employees have after any such system, which will enable each employees towards personal growth and development.

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INDUSTRIAL PROFILE
INVENTION AND JOURNEY OF PAPER: Written communication has been at the centre of civilization for centuries. Most of our important records are on paper. Although writing has been coming around for a long time, paper hasnt. In fact, putting down in writing form wasnt always easy or practical. Early people discovered that they could make simple drawings on the walls of caves, which was a great place for recording thoughts, but wasnt portable. Written communication involved spending hours scratching a message into a heavy clay tablet and then transporting it. Thats exactly what the Sumerians did around 4000 B.C. although this form of written communication was now portable. It still wasnt practicable because of its weight. For centuries, people tried to discover better surfaces on which to record their thoughts. Almost everything imaginable was tried. Wood, stone, ceramics, cloth, bark, metal, bamboo and tree leaves were all used as a writing surface at one time or another The word paper was derived from the word papyrus, which was a plant found in Egypt along the lower Nile River. About 5,000 years ago, Egyptians created sheets of papyrus by harvesting, peeling and slicing the plant into strips. The strips were then layered, pounded together and smoothed to make a flat, uniform sheet No major changes in writing materials were to come for about 3,000 years. The person credited with inventing paper is a Chinese named Tsai Lin. He took the inner bark of a mulberry tree and bamboo fibers, mixed them with water, and pounded them with a wooden tool. He then poured this mixture onto a flat piece of coarsely woven cloth and let the water drain through, leaving only the fibers on the cloth. Once dry. Tsai Lun discovered that he had created a quality writing surface that was relatively easy to make

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By the 10th century, Arabians were substituting linen fibers for woods and bamboo, creating a finer sheet of paper. Although paper was fairly high quality now, the only way to reproduce written work was by hand, a painstaking process.

By the 12th century, papermaking reached Europe. In 1448, Johannes Gutenberg, a German, was credited with inventing the printing press. (It is believed that movable type was actually invented hundred of years earlier in Asia.) Books and other important documents could now be reproduced quickly. This method of printing in large quantities led to a rapid increase in the demand for paper. Charles Fenerty of Halifax made the first paper from wood pulp (newsprint) in 1838. He was helping a locaer mill maintain adequate supply of rags to make paper, when he succeeded in making paper from wood pulp. Thereon, people picked up the paper challenge and learned how to grind wood efficiency and new way to separate wood fibers. Papermaking today, with all varieties and huge quantities is a science as well as an art. Paper has come to touch just about every aspect of our lives, from term papers and books, to money and personal care products. Theres never a day, and hardly a waking hour, that isnt made better by paper.

INTRODUCTION OF PAPER INDUSTRY: Paper is a thin material mainly used for writing upon, printing upon or for packaging. It is produced by pressing together moist fibers, typically cellulose pulp derived from wood, rags or grasses, and drying them into flexible sheets. Paper is a versatile material with many uses. Whilst the most common is for writing and printing upon, it is also widely used as a packaging material, in many cleaning products, in a number of industrial and construction processes, and occasionally as a food ingredient, particularly in Asian cultures.

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COMPANY PROFILE
HINDUSTAN PAPER CORPORATION LIMITED Hindustan paper Corporation Limited (HPC) was incorporated on May 29, 1970 when the country was plagued by a pervasive paper famine which did affect the supply of quality text books and other commonly used products for the education sector. HPC, a wholly owned Government of India Enterprise was thus the outcome of a genuine national concern for having paper in plenty, employing the state-of-art production process know-how and utilizing the forest-based raw materials available in the North Eastern Region and Kerala. HPC is today synonymous with quest for quality paper, especially for mass consumption. HPC has four paper mills two of which are directly managed units, viz. Nagaon Paper Mill (NPM) and Cachar Paper Mill (CPM) and two managed through subsidiary companies, viz. Hindustan Newsprint Limited (HNL) and Nagaland Pulp & Paper Company Ltd. (NPPC). SIGNIFICANT HIGHLIGHTS: HPC Group achieved the highest-ever combined production output of 3,27,857 tones and sales turnover of Rs. 1140 Cr. Exceeding the 100%capacity utilization made for the six times in a row. HPC Units registered an 11% rise in profits before tax at Rs. 137 Cr. HNL recorded profits before tax of Rs. 18 Cr. The two units of HPC-NPM and CPM have registered the highest-ever production of 2, 11,746 tones against the previous best of 2, 10,015 tones. NPM has gone past the 100% capacity utilization mark for the eight times in succession since commissioning in October, 1985 with an all-time high production output of 1, 15,125 tones. The subsidiary HNL, scaled new peaks with the highest-ever production output and sales volume of 1, 16, 111 tones, reporting year-end ZERO stock for the fifth successive year. HNL has also completed its 25 years of corporate existence on June 07, 2008.

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HPC has so far paid dividend and redeemed preference shares for a cumulative quantum of Rs. 60.40 crore since it wiped out the accumulated losses which had touched Rs. 785 crore on 31-03-1994, on the strength of uninterrupted net profit track record since FY 1996-97.

To sustain availability of raw materials, HPC has set up a state-of-the-art Tissue Culture Lab (TCL) at NPM to produce 20 lakhs plantlets per annum. The main activity of the TCL is to ensure of large scale supplementing the bamboo resources. The farm forestry programme undertaken by HPC mills will be supplemented with these plantlets distributing the planting material to other North Eastern States like Tripura, Meghalaya, Mizoram, etc. This initiative will play a significant role in view of the gregarious flower of MULI bamboo (Melocanna baccifera) presently covering large forest areas of NE region. Replenishing seedlings will help to maintain the green cover and environment of the region. HPCs endeavor has been to reduce Carbon-dioxide emission by way of pursuing Clean Development Mechanism (CDM) projects out of which one of the projects is in the advanced stage of registering with United Nations Framework Convention on Climate Change (UNFCC) under Kyoto Protocol. The two units of HPCL which were utilized for production process are: Sl No:

HPC Units Nagaon Paper Mill (NPM), Assam Cachar Paper Mill (CPM), Assam Subsidiaries

Annual Capacity (Tones) 1, 00,000 1,00,000

Hindustan Newsprint Ltd (HNL), Kerala Nagaland Pulp & Paper Co. Ltd. (NPPC), Nagaland (A joint venture of the Government of India and Govt. of Nagaland). Green field Project

1,00,000

33,000

Jagadishpur Paper Mill, UP

NA

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SL. NO. 1. 2.

HPCL Unit

Annual Capacity (Metric tones)

Investment (In Cr) 287 357

Started

Nagaon Paper Mill (NPM), Assam. Cachar Paper Mill (CPM), Assam

1,00,000(Writing& Printing Paper) 1,00,000(Writing& Printing Paper)

Oct1985 April 1988

There is a provision to produce 20, 000 tones of newsprint in each of these mills within the total capacity of 1 lakhs tones. An increase in capacity by 30% is under consideration. SL. NO. 1. 2. Hindustan Newsprint Limited(HNL),Kerala Nagaland Pulp & Paper Co. Limited (NPPC), Nagaland Subsidiaries Annual Capacity (metric tone) 1,00,000 (Newsprint) 33,000 (Writing & Printing Paper) Investment (In Cr) 158 84 Started

Nov 1982 July 1982

HPCL has been able to display a blazing performer both in physical and financial forms in recent past and has a market share of about 20% indigenous newsprint and about 13% in the exam wave segment of the paper market Production trends of HPCL (2001-2006) Year Production (in Tones) 2001-02 1,93,011 2002-03 2,00,793 2003-04 2,10,015 2004-05 1,97,312 2005-06 2,07,068 2006-07 2,08,315 2007-08 2,11,746

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Sales trends of NPM & CPM (2001-2008)

Year Sales (in Tones)

2001-02 196158

2002-03 203241

2003-04 204405

2004-05 196829

2005-06 211209

2006-07 210737

2007-08 213224

INTODUCTION TO NAGAON PAPER MILL: Nagaon Paper Mill, a unit of Hindustan Paper Corporation Limited (A Govt. of India Enterprise) started its commercial production in October, 1985 to produce 100,000 MT per annum of writing and printing paper. NPM is the first paper mill in the world to produce Kraft Pulp in Kamyr Continuous Digester using 100% bamboo as raw material. Challenging all odds like locational disadvantage, infrastructural and communication bottleneck, continuous ethic problem etc. NPM never looked back. The mill attained 100% of its installed capacity in 2000-01 and since then the mill has been showing continuous rise in production attaining 102.639% of its installed capacity in 2003-04. NPM has been certified with ISO 9001:2000, EMS 14001:2004, OHSAS 18001:1999 by Det Norske VERITAS (DNW) of Netherland. REGIONAL OFFICE The Corporate Head Quarters and Registered office of HPCL is situated in Kolkata and Delhi respectively . HPCL five (5) regional Offices. All these offices are spread in different parts of the country. The offices are Nagaland, Delhi, Guwahati, Madras, Mumbai and Kolkata. MARKETING DEPARTMENT To make efficient and effective distribution of products HPCL has made 15 marketing department situated at different places like: Jaipur, Mumbai, Indore, Chennai, Hyderabad, Cochin and Lucknow. PROFILE OF NPM It is one of the units of HPC Ltd. was sanctioned on 21 st January 1977. It is Government of India Enterprise under Ministry of Industries; Government of India. The Nagaon Paper project began its activities in early 1978 with the rite clearance made by late D.K.Barua, the minister of Petroleum Government of India at Jagiroad, which had several locational advantages for setting up a paper mill. The main advantage is that it is proximity to forest 18

based raw materials i.e. bamboo which was abundant in Jagiroad. The commercial production started in NPM during the month of October 1985. HPC has been continually modernizing and upgrading its plant and equipment and also plays a important role in the industrialization and economic growth of the nation. LOCATION OF NPM NPM is situated on Guwahati Nagaon road near the Jagiroad Railway Station in the Morigaon district of Assam. The rail line connection taken inside the paper mill from Jagiroad for transportation of materials. The mill is named Nagaon Paper Mill as Jagiroad as then located in Nagaon district 1990 the Morigaon subdivision was upgraded to full fledge district and raw the mill come in the district of Morigaon. There are two separate Mill gate one entry and exit of material and another one is entry and exit for person only. Process of paper production in NPM The following are the process of paper production at NPM Types of bamboo Used: Kako bamboo is found in Karbi-Anglong in Assam and Khasi Garo Hills of Meghalaya 40% of requirements for these mills are not from this area via a lease agreement with the district authority of Karbi-Anglong, which is in force. Another Species Bhaulka is predominantly found in the plains of Assam which is popularly known as Home-grown Species. Another species of hill Jati Bamboo is abundant in North Cachar hills of Assam. But lack of infrastructure like road/rail facilities in this area has implied the arrival of these species of Nagaon paper mill. Bamboo yards: It is the place where the procured bamboos are stored, which have been bamboo trucks are unloaded and stacking is done in the bamboo yard; these stacks are being numbered date wise. The delivery of the material to chipper house is made on the basis of FIFO method. The bamboo is transferred to chipper house through flume-drainage system through which bamboo are directed through conveyer to chipping machine. Chipper House: The bamboos stored in bamboo yard are carried by the feed roller through the flume to bamboo chipper machine. There are six bamboo chipper machine. In these chipper machine bamboos are cut into small pieces. There are two chip screen; chips from chipper machine are further crashed into fine particles in chipper screen. Then these chips go into re-chipper, from re-chipper these chips again go into chip screen and from chip screen chips go into chip bin.

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Pulp Mill: This is an important section of the mill, if this plant stop for a minute, the mill loses Rs.1620. In this process the chips are cooked to obtain pulp.

The different sections of the pulp mill are as follows: Digester(continuous cooking plant) Washing and screening plant Bleaching plant Digester: The main purpose of the digester is to cook the chips. Cooking is an ordinary sulphate process with counter current washing. The digester work in three steps: Impregnation Cooking High hit washing

Black liquor and white liquor is required for cooking in the digester. The amount of white liquor required depends upon the chip volume and wood weight. Whereas the amount of black liquor depends upon the desired wood/ liquor ratio. The liquor level in the digester has to be slightly below the chip level. After cooking and washing, the pulp comes out of the digester and goes to the blow tank. Extraction liquor from the digester goes to the primary and secondary flash tank, from where it goes to recovery. From the blow tank, the pulp goes to washing and screening section. Washing and screening section: The pulp from the digester comes out from the blow tank to the knottier, where knots are separated from the pulp. In the knottier, dilution of pulp is done. There are two parts of knottier, these are accept and reject. The accept parts goes to the primary screen and the reject part goes to the vibrating screen. There are two primary screens, which work in parallel. The accept part of primary screen flows to Decker Cum Washer (DCWS) and the reject part flows to secondary screen. In the secondary, the accept part goes to primary screen and reject part goes to tertiary screen (vibrating type). Then, the accept part goes to collection tank and reject part goes to drain. Bleaching section: The aim of this section is to selectively remove 75%-95% of lignin of the fiber after pulping. The bleaching section consists of five stages: Extraction stage1: alkaline extraction of NaOH and H2O2. Hypo stage: Treatment of extracted pulp with calcium hypochlorite Ca (OCl)2.

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 Extraction stage2: Treatment with NaOH and Ca (OCl)2. Chlorine dioxide stage: treatment of pulp with CIO2. Paper machine: This is the plant where the pulp is converted into paper. This is an important section of the paper mill. It is known that if this plant stops for a minute, the mill incurs a loss of Rs.2850. The main sections of the paper are as follows: Wire section Press section Dryer section Calendar and reel section. Finishing house: After paper machine, the paper goes to finishing house section for further processing. Parent roll from paper machine is placed on the rewinder. The required size as per order is set for rewinding. Rewind reel passed by the quality control personnel, then they are taken to reel wrapping machine and dropped with wrapper. Printed label bearing information such as quality, GSM, size, lot no, date of manufacture etc. are pasted on the reel, after that is weighed. Distribution Department: It is the key centre between CHQ Marketing department and mill in marketing relation with production and dispatch against all the orders received through our various sales offices. It is the responsibility of the distribution department that the ordered items are produced in time and dispatches are made with the schedule. Distribution department is responsible for handling the entire ordered quantity irrespective of variety, size, Gram per square meter etc. To compete the entire operation, distribution department are required to maintain Finished stock account, Exice duty payment account and ordered document in various format, register, challan files etc. Utility plant: This is one of the most important sections of the paper plant. It is known that if this plant stops for main inputs of this plant are coal and raw water. As output, this plant supplies the following services. Water: Mill water, make up water, drinking water. Steam: H.P. steam (goes to T.G. for power generation) M.P.steam and L.P.steam (for process use). Compressed air: Mill Air, Instrument Air Power Most importantly, this plant supplies the necessary power for its own consumption and to the pulp mill, paper machine, the river intake pump, the residential colony and etc. The following are the different section of the power house:

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Water Treatment Plant: De-mineralization plant Boilers Coal handling plant Ash handling plant Turbines Condensers and cooling tower.

Caustic and Chlorine Plant:

The different section of caustic and chorine plant are: Brine plant and cell house Chlorine plant Caustic fusion Hypochlorite acid plant Chlorine liquefaction plant

``

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ORGANIZATION CHART OF HPC CORPORATE LEVEL Chairman cum Managing Director

ED (HR&ES) / (Operation)

Director (Operation)

Director (Finance)

GM (Finance)

GM (HR&ES)

Director (Marketing)

GM (Marketing)

ED / MD, NPPC ED / CE CPM ED / CE NPM

MD, HNL Chief Vigilance Officer

ED JPML

MD-Managing Director ED-Executive Director ED- Executive Director MD- Managing Director GM-General Manager

CPM-Cachar Paper Mill NPM-Nagaon Paper Mill

Company Secretary

NPPC-Nagaland Pulp & Paper Company Ltd HNL-Hindustan Newsprint Limited JPML-Jagadishpur Paper Mill Limited

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`````

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FINANCE DEPARTMENT
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Introduction to the Finance Department

The finance department of HPCL works under the following procedures explain Cost accounting system Concept of cost: the term cost has a wide varity of meaning. Different people use this term as different senses for different purpose. In common use, the word cost means price. In management terminology, the term cost refers to; Cost refers to the expenditure incurred in producing a product or in rendering a service. It is expressed from the producers or manufactures point of viewpoint(Not from the consumer or users) Cost ascertainment is based on uniform principles or techniques. Hence cost is objectively determined

COSTING
The techniques and process of ascertaining cost is called costing.

COST OF ACCOUNTING:

Cost accounting the

application of accounting of the accounting and costing principles, methods and technique in the ascertainment of cost analysis of saving and or excess cost incurred as compared with previous experience or with standards. Thus cost accounting to the collection, classification ascertainment of cost and its accounting and control relating to the various elements of cost. It establishes budget and standard cost and actual cost of operations, process department or products and analysis of variance, profitability and social use of funds. Thus cost accounting has the following feathers a) It process for accounting of costs. b) It record income or expenditure relating to production of goods and service. c) It provides statiscal data on the basis of which future estimates are prepared and quotations are submitted. d) It is concerned with the cost ascertainment or and cost control.

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e) it establish budgets and standard so that actual cost may be compared to find out daviation of variation. f) it involves the preparation of information to the right person at the right time so that it may be helpful o the management for planning, control and decision making

OBJECTIVE OF COST ACCOUNTING:

The objective of cost accounting are ascertainment of cost, fixation of selling price, proper recording and presentation of cost data to management to measure efficiency and cost control. The following are the main objective of cost accounting.
To ascertain the cost per unit of the different product manufactured by a business concern.

To provide a correct analysis of cost both by process by operation and by different element of cost. To disclose the source of wastages whether of materials, time or expenses or the use of machinery, equipment or tools and to prepare such reports which may be necessary to control such wastage. To provide requisite data and serve as a guide to price fixing of product manufactured or services rendered. To ascertain the profitability and advice the management as to how this profits can be maximized. To exercise effective control of stock of raw materials. Work in progress, consumable stores and finish goods in order to minimize the capital block in this stock. To reveal source of economy by installing the implementing a system of cost control for materials, labor and overhead. To advice management or future expansion policies and proposal capital project. To present and interpret data for management planning and decision making and control. To help in the preparation in budget and implementation of budgetary control. To organize an effective information system so that different level of management may get the required information at the right form of carrying out their individual responsibilities in an effective manner. To guide management in the formulation and implementation of incentive bonus plans based on productivity and cost saving. 27

To supply useful data in management for taking various financial decision such as introduction of new products, replacement of labor machinery. To help n supervising the working of pounced card accounting or data processes through computers.

CLASSIFICATION OF COSTING
The main objective of costing is to ascertain the cost of each product. Process department, service or operation. The ascertainment of cost involves further the study, analysis and classification of cost such as prime cost, work cost, production cost etc. cost can again be classified in the different categories depending upon the purpose of classification. Some of the important basis of classification as follows: JOB COSTING: It is a system of costing in which cost are ascertained in termsof specific job or orders which are not comparable with each other. The unit of costing in this method is a job or special work order. This method is suitable to industries engaged in printing, ship, building machine tools locomotives, engineering repair shops etc. BATCH COSTING: under this method a simile of batch similar product is regarded as one job and cost of this complete batch is ascertained. The total cost of this batch is divided by the total no. of units in the batch in order to determine the cost per unit. This method is particularly suitable for industries engaged in toy making, readymade garment, spare parts etc. CONTRACT COSTING: A contract is a big job and hence the principle of job costing is applied to job contract costing. A separate account is kept for each individual contract. This method of costing generally applicable to undertaking engaged in building construction, ship building, civil engineering, construction engineering etc. PROCESS COSING: Process costing is a costing of method of costing that is employed by the type of industries where a product passes through different processes. Each distinct and well defined; it is desired to know the cost of production of each process. This method of costing is most suitable for mass production. Industries engaged in continuous production of standard production such as textiles, paper sugar oil cement mining it. SERVICE (OR OPERATING) COSTING: This is suitable for industries which render service as distinct from those which manufacture goods. This is applied in transport in transport undertaking, power supply companies, municipal services, hospital hotel etc.

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TYPES OF TECHNIQUES OF COSTING Following are the main types of costing for ascertaining costs: UNIFORM COSTING: It is use of the same uniform costing principle and costing principle and practices by several undertaking for common control or comparison of costs. MARGINAL COSTING: It is the ascertainment of marginal cost by differentiating between fixed and variable cost. It is used to ascertain the effects of changes of volumes or type of output on profit. STANDARD COSTING: A comparison is made of the actual cost with a pre arranged standard and the cost any deviation is analyzed by causes. This permits the managements to investigate the reason for these variance and to take suitable and corrective action. HISTORICAL COSTING: It is ascertainment of cost after they have been incurred. It aims at ascertainment costs actually incurred on work done on the past. It has a limited utility, through comparison of cost over different period may yield good result. ABSORPSION OF COSTING: It is the practice of charging all costs, variable and some fixed to operations. Processes or products. This differs from marginal costing where fixed cost are excluded. DIRECT COSTING: : It is the practice of charging all direct cost, variable and some fixed cost relating to operations, processes or products leaving all other costs to be written off against profits in which they arise. Any of the method of costing like unit, or output costing, servicecosting , process costing etc.

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An ideal costing system of costing is that which achieve the objectives of a costing and brings all the advantage of costing to the business. The following are the main characteristic of which an ideal costing system should process.

CHARACTERISTIC FOR AN IDEAL COSTING

A costing system must be devised according to the nature, conditions, requirements and size of business. The system of costing should be simple and plain so that it may be easily understood by a person of average intelligence. The system of costing must be flexible so that it may be change according to financial capacity of the business. The costing should not beexpensive and must be adopted according to financial capacity of the business. The costing system must be such that it may be provides facts and figure necessary to management for eevaluating to the performance by comparing with it the past figures, or figures of othersconcern or against the industry as whole or other department of the same concern. The system must be provide accurate and timelyinformation so that it may be helpful to the management. For taking decision and suitable action for the purpose of cost control. There should be an efficient system store and stock control as materials usually account for a greater proportion to the total cost. There should be well defined wedge procedure for recording time spent by workers for different jobs. For preparing the wage sheet and for payment of wages. A sound plan should be devise for the collection, allocation, apportionment and absorbtion of overhead in the order to ascertain the cost accurately. Under a good system of cost accounting the duties and responsibilities of the cost accountant should be clearly defined.

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The conclude, the primary criterion for an ideal costing system is : How well it help achieve management goals in relation to its cost.

The cost accountant should have access to all work and department.

COSTING SYSTEM OF NPM

The cost accounting system followed in the company is as per cost accounting records(paper) rules, 1975 as amended from time to time till 2001. It also maintains cost accounting record for manufacture of caustic soda as per rules. In NPM, the process of costing , the cost are ascertain and allocated to each unit of the total production process. ABOUT PROCESS COSTING Process costing is the method of costing that is employed by the type of industries where a product is passed through different processes, each distinct and well defined, it is desired to know the cost of production at each process. In order to know the cost at each stage or process of production a separate account is prepared for each process of production. An when the material is process from one process to another, the cost is incurred upto the process is also transferred from one process to another, , the cost is incurred upto the process to transferred succeeding process. The method of costing is suitable for mass production such as textile chemical , paper sugar oil etc. PROCESS COSTING INCLUDES THE FOLLOWING METHOD OF COSTING. Single ouput or unit costing: this method of costing in applied production is continues and uniform in the industry is engaged in the production of few grade of 31

same product. In this method the total cost divided by the no of unit to ascertain cost per unit. OPERATING COSTING: This method is suitable for the industry which rendered service rather than manufactured goods. Operating cost is used to ascertain the cost of rendering service such as railways, airways hotels power supply water supply etc. OPERATING COSTING: operation costing is further refinement of process of costing and is the system of costing which is use in the industries engaged and repetitive mass production. it is most suitable for engineering industry, toy making industry etc. where mass production is carried in repetitive manner.

TYPES OF PROCESS PLANT: THERE are different types of process plant as enumerated as follows:

FEATHERS OF PROCESS COSTING: Process costing is the form of operation costing which is used to ascertain the cost of the product at each processor stage of manufacture, where process are carried on having one or more of the following feathers:

Plants are factories manufacturing only one standard product through several processes or each of various department under the plant producing one standard product. Plant of factories producing different products in one process, having a separate run as in case of bakeries, flour mills, etc. cost are compiled separately. Plants or factories producing simultaneously, different products through the same process as in case of foundries. Plants or factories repeating standard product or operation in one department for mass production as in case of industries manufacturing spare parts, nuts and bolts petroleum from crude oil etc.

Production is done having a continuous flow of identical product except where plant and machinery is shut down by cost centers. Clearly defined process cost centers and accumulation of all costs (materials, labour and overhead)by the cost centers. 32

PRODUCE FOR PROCESS COSTING FOR NPM In NPM for each process is separate account is opened. All direct expence and indirect expence relating to the product are debited to the process account concerned. If one process completed the manufacture, the units produce are transferred to finish stock. If finish products of one process is required by raw materials by next process, the unit transferred to the next process account. The total cost of each process after adjusting the value to work in progress. (opening and closing) for each cost period, being divided by unit cost. PROCESS INVOLVED IN UNIT COSTING

The maintenance of accurate records of the unit and the parts unit produce at cost incurred by each process. The finish products of one process became the raw materials of the next process and so on until the final product is obtained. Avoidable and unavoidable losses usually arise at different stage of manufacture for various reasons. Treatment of abnormal losses or gains is to be studied in this method of costing. Sometimes goods are transferred from one process to another one not at the cost price but at transfer price just to compare this with the market price and to have a check in the ineffienciency and losses occurring at particular process. In order to obtain accurate average cost, it is necessary to measure the production at the various stage of manufacture as all the input unit may not be covered into the finished goods. Some may be in process. Calculation of effective unit have been seen in this method of costing. Different product with or without by product are simultaneously produced at one or more stage process are of manufacture. The valuation of by product an appointment of joint cost before point of separation is an important aspect of this method of costing.

All units are cost centers. Direct expense are collected against the cost centers. This is ensured by mapping each revenue expense to cost centers. Direct cost may be variable or fixed. All cost elements are identified as one of two types. The direct cost are: Bamboo Chemical and feeding Utility cost(power, cost etc)

VARIABLE COST:

OTHERS INCLUDE

machine clothing packaging material waste disposal expenses

33

FIXED COSTS:

packaging handling and forwarding Salaries and wages Repair and maintenance General administration Insurance Social overhead Selling expenses

INDIRECT COST/ OVERHEAD: are allocated to various unit by following the method of costing. the indirec cost that are required to be absorbed are as follows:

COST CENTERS: A COST CENTER IS A SMALLEST SEGMENT OF ACTIVITY OR AREAor responsibility for which cost are accumulated. Typically cost centers are department but in some instance, a department may be contain several cost centers. These cost centers are departments and sub departmentof an organization with reference to which cost is collected for cost ascertainment and cost control. In NPM all unit are treated as cost centers. Basically cost centers are:

General administration expenses: absorbed as a percentage of the direct manpower cost of the unit. Administrative salary(other than direc salary): absorbed as a percentage of the direct salary of the unit Depreciation of the assets of the company: absorbed as a percentage of the direct depreciation cost of the unit. Repairs and maintenance: absorbed as a percentage of the direct Repairs and maintenance cost of the unit. Other overhead: are to be allocated to the unit in the ratio of different cost.

Chipper house Unbleached pulp plant Bleached pulp plant Paper machine Finishing house Recovery plants Boiler house Power house Caustic and chlorine plant Fusion plant

34

Chlorine di oxide plant HCL plant Water treatment plant Bamboo yard

COST SHEET OF NPM Cost sheet is a document which provides for the assembly for the estimated details cost in a respect of a cost center or cost unit. It is detail element of the cost arranged in a logical order under different heads. It is prepared periodically and contains information on:

Cost of material consumed with details. Cost of labor with details. Work experiences with details. Office of the administrative details. INSTALL CPACITY CAPACITY UTILISATION PRODUCTION YIELD PARTICULARS DIRECT
A)Variable cost

OVERHEAD

TOTAL

Total of A B) FIXED COST 1) salaries and wages 2) Repair and maintenance 3) General administration 4) Insurance 5) Social Overhead 6)Selling Expenses Total of (B) C) INTEREST N GOVT LOANS D) DEPRICIATION TOTAL COST(A+B+C)

Chemical & Feeding Raw materials. Utility cost(power, water etc) Others Machine clothing Packaging materials Waste disposal expenses Packaging and handling consumable

35

SL NO 1. 2.
3.(a) (b)

4. 5 6 7.(A) (B) (C) 8 9 10 11 12 13 14

PARTICULARS Raw material consumed Chemical consumed Consumable Machine clothing Salary and wages Power fuel and other service Repair and maintenance Other overheads Feeding and handling cost Insurance premium Depreciation Administrative expenses Total Adjustment for difference between OB & CB of WIB Less: credit for of by products Less: self consumption printing and stationary wrapper Stocks adjustment for adjustment between opening and closing stock of finished goods Stocks adjustment for difference between cost and finance in respect of finished goods and process work Total

TOTAL EXPENDITURE 816602511 384378248 24301152 36070928 445448411 576858058 190968654 91612053 51826702 5845187 98526967 85359382 2807798253 21597499 65441960 5429030 -31811370 -10929870 2762957131

MAJOR ELEMENTS OF COST IN NAGAON PAPER MILL The following are the major element of cost
The following are the details of raw material/ components consumed for producing paper: PARTICULARS Indigenous UNI T MT G MT G 2009-10 494635 56187 2008-09 565179 33338 2007-08 417094.4 6 32183.55 20062007 37880.09 12447.97 20052006 378913.3 10685.05

Raw material cost:

Bamboo Wood

36

Soap stone powder Salt cake Lime alum rosin

MT MT MT MT MT MT MT MT MT

39674 30893

38060 31009

23667 3037 664413.5 85 4596.613 1337.727

23827 3788.79 55310.34 7 3764.662 1 1303.278 8744.80 9271.389 511.628 141.72

20816 2262.996 55369.92 3282.197 1406.048 62558.91 842.335 439.301 53.833

Self manufactured Caustic lye Chlorine Chlorine-dioxide HCL

13753 12939 638 2137

15335 13447 789 2336

8592.79 10078.86 554.839 122.13

Bamboos, being the raw material., collected from the forest and purchased at mill gate are stored in the stock yard. Bamboo accounts are separately maintain to record quantity and the value of procurement, consumption stock in hand. In valuation of bamboo consumed cost of transport, insurance, storing expenses and the other overhead are included, while transport subsidy if any received from the govt. Is deducted. The chemical used for producing paper are purchased and some are self manufactured by the unit. The self manufactured cost included basic material and conversion cost.

Salaries and wages:

Payment of wages and salaries are recorded cost sender wise and charges to concerned cost centers directly. The cost details are given as follows: Cost details 1.Direct labor cost on production 2.indirect labor cost on production
3.Employee cost on administration 200910 2008-09 2007-08 20062007 20052006

1865.62 1980.93 62.67 62.67

4133.9 2 4638.00

1493.36 1603.51 50.85 50.58 3587.19

1380.46 1424.55 550.03 50.03 3293.89

4.employee cost on selling and distribution Total Employee cost

3971.89

UTILITIES POWER WATER CONSUMED ETC: In NPM cost of power purchased or generated, cost of water consumed etc. is allocated to different cost centers on the basis of technical estiate.The actual/standard consumption o power fuel and utilities in 37

terms of quantity per unit of quantity per unit of production are given below
PARTICULAR S UNIT qty For the year ended 31-032010 qty For the year ended 31-032009

Electricity Grid Power

KWII

475

Duty on own generation Coal Fuel oil

Other fuel total

KWII MT KL

1276 161,`097 1,276

5 162,420 0 5 9 . 0 0 446.05 1996 1867.2 6 15.39 43.49 7431.1 9 493 1347

5336

517.22 2209.20 17.66

64.50 8165.16

Depreciation is charged on fixed assets. Fixed asset are those assets which are of materials value, not meant for re sale and having a fairly long life. And are used in business. When a fixed assets is put to use then that part of its value which is lost or which can not be recovered is known `as Depreciation. In generally depreciation are two types

DEPRECIATION

In NPM depreciation are fixed assets is provided on straight line method at the rates and in manner specified in schedule XIV of the companies act 1956.

Straight line method Diminishing balance method

Particulars Name of the major cost centers/produ cts Gross block 20092010

DEPRECIATI ON 2008-2009

2007-08

2006-07

2005`2006

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1.Chipper house 2. Unbleached pulp 3.Bleached pulp 4.Paper machine 5.Finishing house 6.Caustic and chlorine plant 7.Recovery plant 8.water Plant 9.Boiler House 10.Power house 11.Bamboo yard 12.Chlorine di-oxide 13.Caustic fusion 14.Others(HC L plant, etc) TOTAL

92586282 27936060 8 19157766 5 10547359 74 9234979 30925010 8 37511856 1 80585990 49216611 7 26255114 5 0 14843556 0 66375569 3 38257666 78 0 0

1614794 6713911 2942735 1690358 2 3938332 2954312 1418454 1 55821 1249862 9 2838960 0 0 0 423750 0 3345760 0 9852696 7

897097 6464083 2747208 1484235 5 2376468 2310409 4268433 8 62335 1024926 2 2752167 0 423750 0 3076424 27 8718072 0

1238576 5900042 2256002 2204937 4 282179 4460858 1380020 9 292748 1155753 74 3030339 0 685774 0 8726313 8

Depreciation of plant and machinery each cost center is directly charged to that cost center. Depreciation on common assets is considered in work overhead. Consumption of stores and spares are collected cost center wise from the issue slips and are charged to the respective cost centers.

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OVERHEAD
WORK OVERHEAD and administrative overhead appointment to the production cost center on the basis of plant value and man power ratio respectively. Selling overhead is charged to product sold and sale value basis. Total cost of each production center charged to product on the basis of quality produced, except paper making process where apportionment is made on the basis of technical data. Profit or loss on each quantity of paper is found out after considering realizable value on sale of each. PARTICULAR S CURRENT YEAR 2009-2010 1ST PREVIOUS YEAR 2008-2009 2ND PREVIOUS YEAR 2007-2008

40

For the product under referenc e

1.Factory overhead

For a factory as a whole

For the product under reference

For a factory as a whole

For the product under reference

For a factory as a whole 1864021 10

a)Paper b)Caustic &Chlorine Total 2.Administra tive Overhead a)Paper b)Caustic and chlorine Total 3.Selling Overhead
a. Distribution overhead list include in the selling

17094416 16307691 18464021 10 1545452 10 13780605 6 16739154 15454521 0 5268374 8

overhead Total

867784 58

Repair and Maintenance

The expenditure on repair and maintenance has been increasing over the years because of the increasing age of paper mill, inflation, etc. however following measure can be taken for reducing the cost Proper keep up of plant through preventive

41

Particulars 1.Plant and machinery -Stores & Spares -Other expenses 2.Building -Stores & Spares -Other expenses 3. Vehicle -Stores & Spares -Other expenses 4.Others assets -Stores & Spares -Other expenses loose tools written off total

Year 2009-2010 839.70 286.72 1126.42 14.25 34.69 48.94 2.07 2.07 108.03 108.03 6.17 1291.63

Using better technologies for production.

Year 2008-2009 836.15 420.67 1256.82 58.92 25.27 84.19 6.10 6.10 94.73 94.73 6.19 1448.03

POLLUTION CONTROL: The following are the details of the pollution control expenses

42

PARTICULARS Effluent Treatment

2007-2008 121548

2008-2009

2009-2010

Control of air pollution Control of ash pound/ash mound Penalty Others chemical for ETP 526991 2500483

3149022 Total

QUALITY CONTROL EXPENSES: The qulity control expenses are changed to product sold on sale value basis. Total cost of each production center charged to the products on the basis of quantity produced.

43

Particulars ISO no agency salaries and wages Others direct expenses Other benefits Total

2007 -2008 9002 **DNV 1950305 179915 381000 2211220

2008-2009

2009-2010

The costing system adopted is adequate to determine true and fair cost of production, cost of sales, sales realization and margin of products on the basis of products under reference. The other finding are: The company maintain proper inventory accounting system. The accounting has been physically verified during the year by the management. Physical verification of raw materials, process material, chemical and consumable are being conducted under the supervision of nternal audit and work account team. Overhead allocation and appointment to cot center dept and final absorbtion to the products are being made as per costing accounts norms. The company prepares managerial operational and financial action plant for settling the standard benchmark. The company prepares various analysis of variable cost and compared with the budged for the product under reference The company also prepares a daily profitability statement.

44

VALUATION OF WORK IN PROGRESS AT THE END OF COST PERIOD In case of continuous mass production where process costing is applied, it is obvious that at the end of each period there must be certain incomplete goods at various stage of completion. For example, certain goods may be 75% completed, certain goods may be 50% completed, curtains goods may be 20% completed etc. The stage of completion, in some cases can be exactly determined on the basis of machine hours. Suppose 100 machine hours are required to complete a particular process. But the process has utilized only 70 machine hours up to the end of the cost period may be said to be 70% completed. For the purpose of valuation of work in progress, the actual number of incomplete physical unit in progress is substituted by number of nationality completed units taking into consideration the degree of completion. 300 incomplete physical units at the stage of 50% completion shall be substitute by 150 nationality completed unit this is known as the concept of equivalent production. If work in progress 100% completed as regards, say materials, the physical units shall be same as nationality completed unit as regards materials. If work is progress in 50% completed as regard wages, half of physical unit shall be equivalent to nationality completed units as regard wages and so on. The total effective production is the sum of the nationality completed units at the beginning plus unit started and completed during the cost period plus nationality completed units at the end of the cost period. Total of the process during the cost period divided by the units of effective production gives the unit cost.

45

INVENTORY MANAGEMENT

INVENTORY MANAGEMENT:
46

Inventories constitute the most significant part of current assets of a large majority of companies in India. On an average, inventories are approximately 60% of current assets in public sectors in India. Because of the large size of inventories maintained by firm, a considerable amount of fund is required to be committed to them. It is therefore absolutely imperative to manage inventories effectively efficiently in order to avoid unnecessary investment. A firm neglecting the management of inventories will be jeopardizing its long run profitability and may fall ultimately. It is possible for a company to reduce its level of inventories to a considerable degree. NATURE OF INVENTORIES: Inventories are stock of the products a company is manufacturing for sale and components that make up the product. The various forms in which inventories exist in a manufacturing company are : raw materials, work in progress and finished goods.

The following are the objective of inventory management:

To avoid continuous supply of spares, material and finished goods so that production should not suffer at any time and customer demands should also be met. To avoid over stocking or under stocking of inventory. To maintain investment in the inventory at the optimum level. To keep material cost under control. To eliminate duplication in ordering or replenishing stocks. To minimize losses through deterioration, pilferage, wastages and damages. To design proper organization for inventory management which also ensure accountability. To ensure right quality goods at reasonable price.

INVENTORIES
Rs in lakh

PARTICULARS

As at 31.03.2010

As at 31.03.2009 47

Raw Materials(at lower of cost or net realisable value) Other inventories(at lower of cost or net realisable value) Store, spares parts & chemical(including Rs. 55.04 lakhs, Previous year Rs 29.19 lakhs awaiting inspection) Stock scrap Process stock finished goods -Paper -Caustic Material and transit Store, spares & Chemicals Less: Provision dimunition value of store and raw materials Total

2883.59

1342.86

9291.92 135.89 114.76 6241.94 176.13 0.00 18844.23 233.38 18,610.85

11930.53 73.78 169.52 940.55 279.52 49.62 14,786.38 366.86 14,419.52

48

Working capital management

Working capital management is concerned with the problems that arise in attemping to manage the current assets, current liabilities and the inter relationship that exist between them. Current assets refer to those which in ordinary course of business can be, or will be, converted into cash within one year undergoing a diminution in a value and without disrupting the operation of the firm. The major current aseets are cash , marketable securities, accounts receivable and inventory. Current liabilities are those liabilities, which are intented at their inception, to be paid ordinary course of business, within a year out of their current assets of the earning of the concern. The basic current liabilities are accounts payable, bills payable, bank overdraft and outstanding expenses. The need for following capital to run the day to day business activities cannot be over emphasized. We will hardly find a business firm which does not require any amount of working capital, indeed, firms in their requirement of the working capital.

STATEMENT OF WORKING CAPITAL

Rs are in lacks Year 2009-2010 2008-2009 2007-2008

49

Current assets Inventories Sundry debtors Cash & bank balances Other CA interest accrued Loans and advances Total CA Current liabilities Current liabilities and provision Net working capital 14419.52 9651.2 28068.56

24142.33 76281.67 25146.96 51134.73

PROFIT AND LOSS ACCOUNT

Profit and loss account is used to ascertain net profit or net loss. Profit and loss account is the statement wherein the various items of profit and revenue earned on one hand and the losses and expenses incurred on the other hand are collected and offset and the resulting balance represent the net profit or net loss of the period under review. It means expenses for earning the income are offset against the income to ascertain net profit or net loss. Net profit increases the owners equity and vice versa. If the gain exceeds the losses, the excess is the net profit. If the losses exceeds the gains, the exceeds is the net loss. American accountants call this accounts as Profit & Loss accounts which is more appropriate relation to its formation. INCOME SCHE DULE AMOUNT FOR THE YEAR ENDED 31-03AMOUN T FOR THE YEAR ENDED 31-03-2009

50

2010 INCOME Sales: paper Less: excise duty & Cess Caustic and chlorine Less: excise duty & Cess Dividend from a subsidiary company Internal consumption of writing & printing paper and wrapper Accretion/(direction) to stock Interest income Other income Provision/liabilities no longer required written back 57,939. 79 1,098.4 8 856.4 7 66.2 7 12 13 14 56,841.31 790.20 0.00 71, 081.10 2,529. 93 1025. 90 115. 11 68,551.17 910.79 1500.00

15.48 5143.24 1470.45 755.13 2047.13 67,062.94

19.93 (840.17) 2148.16 3200.40 831.64 76,321.93

TOTAL

EXPENDITURE Raw material consumed Chemical and other materials consumed Power & fuel Repair and maintenance Employee Remuneration & benefits Other expenses Excise duty & cess on stock of paper (net of accretion/ (Direction to stock) Interest charges Depreciation Less: allocated to subsidiaries PROFIT(+)/ LOSS(-) for the year

15 16 17 18 19 20

15,702.85 9265.81 17,439.19 4,176.78 18,014.68 8,836.96

13,178.14 9,497.18 15,875.18 3,759.17 13,975.52 12,091.10

230.12 16.77 2502.02 76185.18 681.00 -8,441.24 1,214.64 -9,655.88 22

(81.39) 4.74 2,441.04 70,740.68 491.94 6073.19 0.00 6073.19

21

51

PROFIT(+)/ LOSS(-) for the year brought forward Prior period adjustment(net) Profit(+)/ Losst(-) Before tax Less :income tax expenses: -Current Tax -Deferred Tax -Fringe Benefit tax PROFIT(+) LOSS (-) after tax PROFIT(+)/ LOSS(-) for the year brought forward from previous year Transferred to capital redemption reserve Profit/Loss available for appropriation Appropriations: 23 Proposed dividend: On redeemable Preference share capital 24 On equity capital Provision for dividend tax Balance profit(+)/loss(-) carried to balance sheet Earning per share (EPS)-Basic & Diluted

0.00 3,326.01 3,326.01 0.00

-3,326.01 -6,329.87

1679.88 14534.74 (206.14) 4,538.45 1473.7 4 61.0 0

14,163.50 7,833.63 14,163.5 0 567. 78 14,163.5 0 0.00 0.00 7,833.63 -112.29 0.00 0.00 732.75 563.70 11,539. 66 0. 00 11,539. 66

11,539.66 16,078.11

1,296.45 50.38 14,731.28 66.71

Accounting policies Notes on accounts

52

BALANCE SHEET:
At the end of an accounting year, a trader naturally desires to know two things, The result of this trading operation for the period

53

His true financial position at the end of the period

In order to ascertain the financial results prepares trading and profit and loss account. He trading accounts shows gross profits while the profit and loss account shows net profit. Ater ascertainment net profit and loss accounts show net profits. After ascertaining net profit and the businessman desire to know financial position and the correctness of net profit disclosed by the profit and loss account. As assets and liabilities change during the operation of the business, by the balance sheet we can also ascertain the composition of the trading period, a business sets out various assets and liabilities as on date in form of statement which is known as balance sheet

BALANCE SHEET AS ON MARCH 31ST 2010

SCHEDU LE SOURCES OF FUNDS 1.Share holders funds a. Share Capital b. Share Application Deposit c. Reserves & Surplus 2.LOAN FUNDS a. Secured b. Unsecured 3.Deferred tax liability Total APPLICATION OF FUNDS 1.Fixed Assets a.Gross Block b.Less AS AT 31.03.2010 AS AT 31.03.09

1 1A 2 3

66,270.43 5,460.00 12,344.66 84,075.09 92.50 15,741.01 15,833.51 0.00 99,908.60

66,838.21 5,460.00 18,674.53 90,972.74 142.50 15,741.01 15,883.51 3,201.24 110,057.49

3A ` 4 94,872.10 67,636.39 27,235.71 5,235.76 21,397.30 94,197.68 65,149.45 29,048.23 7,320.50 21,392.30

5 6

54

Depriciation c.Net Block d.Capital work in progress 2.Investments 3.current Assets,Loans & Advances a.Inventories b.sundry Debtors c.Cash & Bank Balance d.Loans & Advances e.Interest Accrued on Deposits Less: Current liabilities and provisions Net Current Assets 4.Deffered Tax assets Total Accounting Policies Notes On Accounts

7 8 9 10 11 3A

18,610.85 9,859.66 14,116.82 26,120.25 299.31 69,006.89 23,215.83 45,791.06 124.77 99,908.60

14,419.52 9,651.26 28,068.56 24,124.33 1,161.73 77,443.40 25,146.94 52,296.46 0.00 110,057.49

23 24

55

CHARACTERISTIC OF BALANCE SHEET

A) A balance sheet is only a statement and not and account. It has no debit side or credit side. The heading of the two sides assets and liabilities B) A balance sheet is prepared at a particular point of time and not for a particular period. The information contained in the balance sheet is true only at that particular point of time at which it is prepared. C) A balance sheet is a summary of balances of those ledger account which have not been closed by transfer D) A balance sheet shows the nature and value of assets and the nature and `the amount of liabilities at a given date.

9. CASH FLOW STATEMENT

56

12.1 INTRODUCTION
An analysis of cash flow is useful short run up planning, a firm needs sufficient cash to pay debts maturing in the near future. To pay interest and other expenses and to pay dividend to share holder. The firm may be able to make projection of cash inflow and outflow for the near future to determine the ability of cash. This cash balance may be match with the firms need for cash during the period , and accordingly, arrangement can be made to meet the deficit or invest the surplus cash temporally. A statement of changes in financial position on cash basis commonly known as the cash flow statement summarizes the causes the changes in cash position between dates of two balance sheets. It indicates the source and use of cash flow statement is similar to the fund flow statement except that it focuses attention on cash instead of working capital or funds. Thus this statement analysis changes in non current account as well as current account to determine the flow of cash.

CASH FLOW STATEMENT

57

S NO A

PARTICULARS CASH FLOW FROM OPERATING ACTIVITIES Net profit before tax & Extraordinary items Adjustment for: Depreciation provision Interest income Dividend income Interest Expenses P/L on sale of Fixed Assets Operating Profit Before Working Capital Changes(Loss) Adjustment for: Trade & other Receivables Inventories Trade & other payable Cash generated from operation Income tax paid Payment of dividend including tax on dividend Redemption of share capital Cash flow before extraordinary items Extraordinary items(Deferred Rev.Exp) Net Cash from Operating Activities CASH FLOW FROMWORKING ACTIVITIES Investing in JPML Purchased of fixed Assets/Capital work in progress Sale/adjustment of fixed assets Term deposit with banks Interest Received Dividend Received Loan to NPPC Temporary Accommodation provided to NPPC NET CASH FLOW FROM INVESTING ACTIVITIES CASH FLOW FROM FINANCING ACTIVITIES Proceeds from Issuance of share capital Proceeds from long term Borrowing Proceeds from Commercial paper Withdrawal from Cash Credit Interest paid Net cash used in Financing activities Net Increase in cash and cash Equivalent A+B+C Cash and cash equivalent at the beginning of the year Cash and cash equivalent at the end of the year DISCLOSURE AS REQUIRED BY AS-3 Cash and cash equivalent at the end of the

FOR THE YEAR ENDED 31-03-2010 9655.88 2502.02 1460.25 0.00 16.77 1.43 8598.77 1769.52 4191.33 78.31 14638.33 505.57 1346.83 567.78 17058.51 0.00 17058.51 5.00 1277.22 4.56 11878.54 2322.66 0.00 0.00 1353.97 14114.89

FOR THE YEAR ENDED 31-03-2009 6073.19 2441.04 2001.02 1500.00 4.74 902.42 4115.53 6165.91 887.42 2252.76 11646.78 2498.10 1448.19 200.00 7500.49 0.00 7500.49 0.00 4787.84 958.26 8021.59 1280.45 1500.00 0.00 2358.04 11428.76

0.00 50.00 0.00 0.00 16.77 66.77 2073.20 5294.46 3221.26

0.00 35.00 0.00 0.00 4.74 39.74 3968.01 9262.47 5294.46 58

RATIO ANALYSIS
A ratio is a simple arithmetical expression of the relationship of one number to another. According to Accountants Handbook by Wixon, Kelland bedbord, a ratio is an expression of the quantitative relationsh`ip between two number. In simple language ratio is one number expressed in terms of the other and can be worked outby dividing one number into the other. In generally four steps are involved in ratio analysis a) selection of relevant data from the financial statement depending upon the objectives of the analysis b) calculation appropriate ratios from the above data c) Comparisons of the calculated ratio with the ratio of the same firm in the past, or the ratio developed from the projected financial statement or the ratios of the some other firms `or the comparisons with ratio of industry to which the firm belong d) Interpretation of the ratio. DRAW BACK OF RATIO ANALYSIS 1. Limited use of single ratio: Ratio can be useful only when t`hey are computed in sufficient large number. A single ratio would not be able to convey anything 2. Effect of inherent limitation of accounting: Because ratio are computed from historical accounting records. So they also possess those limitation and weaknesses as accounting records possess. 3. Lack of proper standard: while making comparison it is always a challenging jobs to find out an adequate standard. 4. Past is not indicator of future: It is not always possible to make future estimate on basis of the past as it always does not come true. 5. No Allowance for change in price level: While making comparison of ratio, no allowance for changes in general price level is made. 6. Personal bias: ratio are only means of financial analysis and is not end in itself. Ratio have to be interpreted carefully because the same ratio can be looked at, in different` ways. CLASSIFICATION OF RATIO Ratio can be classified into five broad categories 1) Liquidity ratio 2) Activity ratio 3) Leverage/capital structure ratio 4) Coverage ratio 5) Profitability ratio.

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Liquidity ratio are also divided into four categories 1. Net Working Capital: Net Working Capital is not a really ratio, it is frequently employed as a measure of companys liquidity position. NWC=total current assets total current liabilities NWC at the 01-04-2009 = 89740.83-25146.94 =64,593.89 At 01-04-2010 = 90,413.20-25,215.83 =65197.17 Difference of Net working capital of 2010 and 2009 is 603.28(rupees in lakh) 2. Current ratio: Current ratio is the `most common ratio for measuring liquidity. Being related to working capital analysis, it is also called the working capital ratio. The current ratio is the ratio of total current assets to total current` liabilities. Current Ratio = Current Assets/Current liabilities Current ratio at the 01-04-2009 = 89740.83/ 25146.94 =3.568 At 10-04-2010=90413.20/25215.83 = 3.585 Difference current ratio 2009 & 2010 is 0.0175 3. Acid test quick Ratio: One defeat of the current ratio is that its fail to convey any information on the composition of the current assets of the firm. A rupee of cash is considered equivalent to a rupee of inventory or receivables. But is not so. a rupee of cash is more readily available to meet current obligations than a rupee of say inventory. Acid Test Ratio= Quick assets/Current liabilities 4. Cash-Position Ratio or Super quick ratio: It is a variant of quick ratio when liquidity is highly restricted in terms of cash and cash equivalents, this ratio should be calculated. It is calculated by dividing the super quick current assets are cash and marketable securities. It can be calculated as below

Cash position Ratio = (cash + Marketable securities)/Current Liabilities. Cash at bank at 01-03-2009 =28,068.56lakh Cash at bank at 01-03-2010= 14,116.82lakh Marketable securities 2009 & 2010 are 15,883.51 & 15,833.51 respectively Current liabilities 2009 & 2010 are 25146.94 & 25215.83 Now Cash position ratio at 2009 = (28068.56+15883.51)/ 25146.94

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=43952.87/25146.94` =1.747

And cash position ratio at 2010 = (14,116.82+ 15833.51)/25215.83 = 29950.33/25215.83 = 1.187 2. Activity ratio Activity ratio which are also called efficiency ratio or asset utilization ratio are concerned with measuring the efficiency in asset management. The efficiency with which the assets are used would be reflected in the speed and rapidity with which assets are converted into sales. a. Inventory turnover ratio= cost of goods sold/ Average inventory b. Debtors turnover ratio = Net credit sales/ average debtors c. Creditor turnover ratio = Net credit Purchase/Average creditors d. Average age of debtors = 365/Debtor turnover It can be also calculated as follows Average Collection Period = trade debtor * No of working days/ net credit sales 3. Leverage /capital structure ratios: the 2nd category of financial ratio is levera`ge ratios. The long term creditors would judge the soundness of` a firm on the basis of the long term financial strength measured in terms of its ability to pay the interest regularly as well as repay the installment of the principal on due dates or in lump sum at the t`ime of maturity a. Debt equity ratio = long term debts/shareholders equity b. Proprietary ratio: Proprietary ratio = Shareholders funds/Total assets or total equity c. The Solvency Ratio = Total liabilities/ total assets 4. Fixed assets to net worth ratio:

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EXPORT ORIENTATION:
Incorporated on 29th may 1970, Hindustan Paper Corporation has now became the leader in paper production. They have become the third largest entity in Indian paper industry. But it is not like that they have their transaction within the countries border only. They also have overseas market for the products. Hindustan paper corporation products are exported to different countries of the world. HPC product are exported to Bangladesh Sri Lanka Nigeria Myanmar Jordan Egypt

Strategic planning has been undertaken for further growth in overseas market

DISTRIBUTION CHANNELS OF HPC THE DEPT Has an intensive network of stockiest at almost all the paper market in the country. These stockiest are catagorised in A1, A,B and c categories having monthly sales target of 600tones 200, 100 and 500 tones respectively depending upon the potentially of the market. A continuous monitoring of their performance is done. The stockiest that are unable to attain desired performance are discarded and further new appointment also made when required The main stockiest in the north is regions are 1.M/s. Oriented paper products ,Bajrong bali market, SCRD road, fancy bazaar Guwahati 2.M/s. Savitri Enterprise pvt ltdSCRD road, fancy bazaar guwahati 3.National Co operative consumer federation(NCCF), DLL NEHRU ROAD FANCY BAZAR GUWAHATI

Competitive pricing Quality Penertrating new market

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From the stockiest mention above, the following dealers/retailers procure HPC products for the further distribution as per the market demand

RESEARCH MEETHODOLOGY
Research applied in the project: Research applied in the project is descriptive in nature as the major objective of the research is to describe the marketing strategy of HPC and customer perception about HPC papers with special reference to copier paper.

M/s Shree udyug, fancy bazaar ghy Assam paper mail fancy bazaar ghy M/s bhagavaan met pvt ltd over night express building bhangarh ghy.

Descriptive research: as the name suggest it is to describe in

details. The degree to which the product use various with different catagories. It must be collected to maximum data for purpose full and meaning full research. It allows both explicit function. It is designed to test the hypothesis.

POPULATION AND SAMPLE: POPulation for the project is

HPCs stockiest in guwahati. Moreever the customer pool(govt institute, educational institute printing page and publishing house) in guwahati is taken as the secondary populationin the study. Wholesaler and retailer are also included in study. Data collection method: survey method is used in the data collection method. Research instrument: the research instrument used in this study are questionnaire And personal interview. For this project quesionaire are prepared in unstructured format where replies from thre respondentown words to extend possible. Direct personal method is used for conducting interviews. Sampling unit: Distribution channel members. HPC stockiest Wholesaler/retailers Govt organization

Customer pool-

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Sampling procedure Stratified sampling procedures is used as sampling procedures Source of data There are two types of source of data

Educational institute Printing press Publishing house

Primary sources and secondary sources

Primary sources: it is the project, the primary sources of data

questionnaires and personal interview. The datas are collected from the respective sources populations through a schedule questionnaire. Two sets are questionnaire have been administered. First one of the dealers/ press and 2nd one for the retailers and government or educational institution and press. The questionnaire used is basically in unstructured format.

Secondary source:
Secondary source of data are HPCs, internet and other related materials

RESEARCH METHODOLOGY
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`
RESEARCH METHODOLOGY RESEARCH DESIGN:
Research Design refers to "framework or plan for a study that guides the collection and analysis of data". A typical research design of a company basically tries to resolve the following issues: a) Determining Data Collection Design b) Determining Data Methods c) Determining Data Sources d) Determining Primary Data Collection Methods e) Developing Questionnaires f) Determining Sampling Plan (1) Explorative Research Design: Explorative studies are undertaken with a view to know more about the problem. These studies help in a proper definition of the problem, and development of specific hypothesis is to be tested later by more conclusive research designs. Its basic purpose is to identify factors underlying a problem and to determine which one of them need to be further researched by using rigorous conclusive research designs. (2) Conclusive Research Design: Conclusive Research Studies are more formal in nature and are conducted with a view to eliciting more precise information for purpose of making marketing decisions. These studies can be either: a) Descriptive or b) Experimental Thus, it was mix of both the tools of Research Design that is, Explorative as well as Conclusive.

DATA COLLECTION:
Primary source Secondary source Data Collection Procedure Research Instrument : : : : Through Questionnaires / Personal Interview. Through Internet/ journals/News papers & Misc. Survey Structured Questionnaires

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SAMPLING PLAN:
Sample Size Sample Area Sample Procedure
: : : 30 F & A Department, NPM Random Sampling

DATA PRESENTATION AND ANALYSIS:

Bar graphs Pie Diagrams

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RESEARCH FINDING
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68

1. ORGANISATIONAL TYPE

``
70% 60% 50% 40% 30% 20% 10% 0% P&P INST

P&P=Printer and publisher Ret & Gvt=Retailer and Govt INST=Instituti on

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2. Do you know purchase HPC paper

80% 70% 60% 50% 40% 30% 20% 10% 0% YES NO Yes=Puchasin g HPC Paper YES No=Purchasing HPC paper No

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3. REASON FOR BUYING HPC PAPER

50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% LA QUA NT P HPC CD LA=Localy Available QUA=Quality

NTP HPC=Not Purchasing from HPC C D=Customers Demand

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4. Reason for buying other Company Paper

90 80 70 60 50 40 30 20 10 0 LP BQ BP CD

Lower Price

Better Quality Easily available at market Better Product mixed Customer Demand

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5. `

25% 20%

Availability GSM variation Less Sheet

15% 10% 5% 0%

Problem at market high price Centralised trade center dump Paper AV PAM CTC BRI Brightness, color variation

``

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6. Working relation with company/ Stockiest `

80% 70% 60% 50% 40% 30% 20% 10% 0% GD NG VG B

GD=GOOD

NG=NEIGHBO UR GOOD OR BAD VG=VERY GOOD B=BAD

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7. Will working relation or customer service by HPC or stockiest affect purchase future decision

90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Yes No Yes No

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` 8. Type of writing and printing paper from HPC

70% 60% 50% 40% 30% 20% 10% 0% Maplitho Maplitho Cream wave 3-D Column 3

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9. Satisfaction Level with respect to price with HPC

70% 60% 50% 40% 30% 20% 10% 0% Satisfied Dissatisfied

satisfied 3-D Column 2 Dissatisfied

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ANNEXURE
78

Dear Respondent,
I am Mr. Rakesh deka ,a student of MBA currently in the 2nd semester of NIILM School of Business. As a part of my MBA curriculum, I am going to start my Industry Training Exposure. In context to the same I would like to request your participations in the responding to the Pre-designed questionnaire to add your valued inputs in the Project ORGANISATIONAL STUDY OF HPCL, NPM I would be obliged if you kindly spare a few minutes of your valued time to respond to the questionnaire. The information gather will be purely for education purpose and all information provided by you will be kept confidential. Looking forward for your kind co-operation and anticipation.

Thank you, Yours sincerely, RAKESH DEKA

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QUESTIONNAIRE

PERSONAL INFORMATION:

Name Age Sex Education

______________________________________________ 30yrs- 40yrs Female Graduation/Diploma Post Graduation 40yrs-50yrs Above 50yrs

: 20 yrs -30 yrs : Male : Matriculation/ITI

Designation:_______________________Department : ________________________ Experience : up to 5 yrs 6yrs- 15yrs 16yrs-25yrs Above 26yrs

DATA COLLECTION: There are 25 questions, all of which you are requested to answer by giving your personal opinion by putting a mark on the choices given. The answers will be kept fully confidential and used only for academic purposes.

1. What do you feel about the present working condition in the organization? 80

Excellent ( )

Good (

Fair ( )

Need Improvement ( )

2. Are you fully aware of the recruitment programs in your organization? Strongly Agree ( ) Agree ( ) Disagree ( ) Strongly Disagree ( )

3. Which is the most obvious method of attracting candidates? News paper advertisement ( ) Internet ( ) other sources ( ) 4. Do you feel Branding of the organization contributes to the effective recruitment and selection process: Strongly Agree ( ) Agree ( ) Disagree ( ) Strongly Disagree ( )

5. Which method of Recruitment & Selection Practices are most suitable at HPCL Campus Interviews ( ) Recruiting Agencies ( ) Direct Recruitments ( ) Employment Exchange ( ) 6. Do you think the Recruitment & Selection Practices in HPCL are a quite long process? Strongly Agree ( ) ) Agree ( ) Disagree ( ) Strongly Disagree (

7. Do you think the current sources of recruitment satisfying the needs your organization? Strongly Agree ( ) ) Agree ( ) Disagree ( ) Strongly Disagree (

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8. Do you think that out of total recruitment in a year, major part is from internal sources? Strongly Agree ( ) ) 9. Do you agree that in the sources of recruitment, promotion is more effective than merit based recruitment? Strongly Agree ( ) ) Agree ( ) Disagree ( ) Strongly Disagree ( Agree ( ) Disagree ( ) Strongly Disagree (

10. Is internal hiring helping in motivating the performance of the present employees? Strongly Agree ( ) ) Agree ( ) Disagree ( ) Strongly Disagree (

11. For internal recruitment, are the vacancies declared publicly? Yes ( ) No ( )

12. Do you agree that employee referrals play a major role in identifying the effective candidates? Strongly Agree ( ) ( ) 13. Has Government interference in deciding the quotas for SC/OBC/PH/EXSM affected the Manpower Planning? Strongly Agree ( ) ) 14. Do you think the environmental factors have affected the recruitment & selection at HPCL? Strongly Agree ( ) ) 15. Does personal bias creeps-in while recruiting & selecting candidates? Agree ( ) Disagree ( ) Strongly Disagree ( Agree ( ) Disagree ( ) Strongly Disagree ( Agree ( ) Disagree ( ) Strongly Disagree

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Yes ( )

No (

16. Do you feel any political influence in Recruitment & Selection Practices at HPCL? Strongly Agree ( ) ) 17. Is HPCL committed to equal opportunities, and welcomes applications from suitably skilled candidates regardless of ethnicity, gender, disability, sexuality, religion or age. Strongly Agree ( ) ) 18. HPCL is transparent enough in giving information about the package/facilities/job descriptions enabling the candidates to take easy decision about whether to or not to apply for? Strongly Agree ( ) ) 19. Is competency model used for Recruitment and Selection? Yes ( ) No ( ) 20. What techniques are used to gauge the capability & aptitude of candidates? Written Test ( ) Trade Test ( ) Interview ( ) All the above ( ) 21. Which type of interview is the most familiar method of selection process in HPCL? One to one Interview ( ) Panel Interview ( ) Sequential Interview ( ) Group interview ( ) 22. Do you think that panel interview is more effective than one to one interview? Strongly Agree ( ) ) Agree ( ) Disagree ( ) Strongly Disagree ( Agree ( ) Disagree ( ) Strongly Disagree ( Agree ( ) Disagree ( ) Strongly Disagree ( Agree ( ) Disagree ( ) Strongly Disagree (

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23. Is there any need of improvement regarding recruitment? Yes ( ) No ( ) 24. Should there be any changes in Recruitment & Selection Practices at HPCL so that the multi-skilled personnel could be recruited to compete the future challenges in every sphere of the activities? Strongly Agree ( ) ) 25. Do you agree with the fact that new entrants with professional qualification helps in a effective human resource mix? Strongly Agree ( ) ( ) Agree ( ) Disagree ( ) Strongly Disagree Agree ( ) Disagree ( ) Strongly Disagree (

RAKESH DEKA

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SUGGESTIONS

Based on the analysis conducted in the organization the following are the recommendations made to the organization. Some of the employees are not satisfied with the job environment and working conditions. Job environment and working conditions play a very important role in motivating the employees. so, the organization has to take some more steps to improve the job environment and working conditions. Some of the employees are not satisfied with the career-planning programmed. If an organization wants to retain its employees it must satisfy their innovate

aspirations for growth and development of advancement in their career Some of the employees are not satisfied with scope of creativity. If the job is creative then only the employees get more interest on their job. They can innovate new things in their job. Their creativity will be improved. Some of the employees are not satisfied with the labor welfare measures provided by the company. Labor welfare measures will improve the morale and increases the feeling of security that will in turn affect the personnel effectiveness in an organization. So the organization should take measures to improve the labor welfare measures.

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CONCLUTION

86

CONCLUSION
From the study it is found that the F& A and HR Dept of NPM dealing with each and every activities of human resource very effectively, efficiently, and actively. It is found that the Nagaon paper Mill leads a very well organized and well developed Human Resource Management system. In N.P.M no industrial unrest or strike has been registered since last five years. So, it is a great success on the part of HR and F & A Dept of NPM. Looking into the current Indian scenario, it is confronted with high attrition rate. Therefore it makes recruitment a critical function in the organization. In order to grow and sustain in the competitive environment it is important for an organization to continuously develop and bring out innovations in all its activities. It is only when organization is recognized for its quality that it can build a stability with its customers. Thus an organization must be able to stand out in the crowd. The first step in this direction is to ensure competitive people come into organization. Therefore recruitment in this regard becomes an important function. The organization must constantly improvise in its recruitment process so that it is able to attract best in the industry in order to serve the best. Thus the organization must look out for methods that can enable it to adopt best recruitment practices. In Promotion places the employees from lower ranks to higher position with more responsibility, which is beneficial for both organization and employees. By this employees skills and knowledge can be better utilize. Promotion improves employee morale and job-satisfaction. It built loyalty and also rewards committed and loyal employees. Ultimately it improves organizational health. Finally, hope that what the findings and suggestion I pen drop may help the organization to adopt and understand the recruitment and selection process of NPM and improve the overall work culture, environment and production process.

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BIBLIOGRAPHY
1. ACCOUNTING FOR MANGERS BY GURU JAMBHESHWAR UNIVERSITY 2. Hindustan Paper Corporation Manual Book. 3. www.google.com 4. www.hindpaper.com 5. Daily cost sheet report of NPM

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