...KABANATA I ANG SULIRANIN O SALIGAN NITO A. I NTRODUKSYON Noong unang panahon pa lamang, laganap na sa maraming parte ngmundo ang paninigarilyo. Ang gawaing ito, ayon sa Wikipedia, ayisinasagawa ng mga tribo upang kumawala sa ulirat o makihalubilo samundo ng espiritu. Ang ilan sa mga gawaing ito ay ang pagpapaalis ngmasasamang espiritu, pagsamo sa mga ito, atbp. Ngunit, sa paglipas ngpanahon, naging isa na ito sa mga kinagigiliwang uso.Nagsimula ito sa rehiyon ng Central America noong 6000 BC. Nanglumipas ang 5000 taon, 1000 BC, nagsimula ang sibilisasyon ng mga Mayanna magpausok, humithit at ngumuya ng mga dahon ng tabako. Ginamit dinnila ito, kasama ng iba pang mga halamang medicinal, upang ipanggamot samga may sakit at sugat. Nang sila ay naglayag sa iba pang parte ng mundo,nagdal sila ng mga dahon ng tabako kaya naman nang lumipas ang mgataon, ang mga manlalakbay, tulad nila Columbus at Francis Drake, aynaisipang gumawa ng planta ng mga tobako at gawing daan upangmagkapera. Naging popyular ang paninigarilyo ng tabako sa Espanya.Ang paninigarilyo ay isang Gawain na kung saan sinusunog angsangkap, karaniwang tobako, na maaring nirolyo sa papel sabay sa paghihitng usok na inilalabas nito. Ayon sa Medlndia Online, ang stick ng sigarilyo aybinubuo ng halos 4,000 kemikal na maraming epekto sa katawan at pag-iisipng tao. Ang ilan sa mga ito ay ang nicotine, tar, acetone, chloroform, atbp.Dahil nga naman ang mundo ay mabilis magbago, nakaisp ang ibang tao ngmga modipikasyon...
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...Case Study “A study of Working Capital Management -Policies and Practices at SABMiller India” Author - Dr Anubha srivastava Sr. lecturer (Finance) Amity Business School Noida Co-Author Pankaj Ishpujani Management trainee HCL B Serve Noida Summary Indian beer market is valued at INR 41 billion for the year ending 31st march 2010 and it is expected to grow at 17.2% for the next year. Indian growth rates compare favorably with the global beer industry. Foreign brewers are eyeing the Indian beer market which is largely untapped and has growth potential. Apart from providing strong growth, India also provides attractive profit margins due to the consolidated nature of the industry. The effect of this consolidation can be seen in the fact that beer prices in India rarely go down with the competitive pressures of new product or brand launches. In the past, whenever beer prices have gone down, it has been due to either the lowering of duties by the government or the deregulation of distribution (leading to lower margins for the distribution channel partners). The Indian beer market has been growing rapidly over the last 10 years, due to the positive impact of demographic trends and expected changes, like: ➢ Rising income levels ➢ Changing age profile ➢ Changing lifestyles The case study attempts to calculate various ratios and working capital requirement of SABMiller India and compare it with the market...
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...entrusted you with the task of evaluating the project. Meta 4 would be produced in the existing factory which has enough space for one more product. Meta 4 will require plant and machinery that will cost Rs.400 million. You can assume that the outlay on plant and machinery will be incurred over a period of one year. For the sake of simplicity assume that 50 percent will be incurred right in the beginning and the balance 50 percent will be incurred after 1 year. The plant will commence operation after one year. Meta 4 project will require Rs.200 million toward gross working capital. You can assume that gross working capital investment will occur after 1 year. The proposed scheme of financing is as follows : Rs.200 million of equity, Rs.200 million of term loan, Rs.100 million of working capital advance, and Rs.100 million of trade credit. Equity will come right in the beginning by way of retained earnings. Term loan and working capital advance will be raised at the end of year 1. The term loan is repayable in 8 equal semi-annual instalments of Rs.25 million each. The first instalment will be due after 18 months of raising the term...
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...A STUDY ON FINANCIAL ANALYSIS IN RANE ENGINE VALVES PVT LTD AT ALANTHUR A Project Report Submitted by P.KOKILA (30307631027) Under the guidance of Mr.P.Ganesh,M.com,M.B.A,M.phil,(Ph.D) FACULTY OF MANAGEMENT STUDIES In partial fulfillment of the requirements for the award of the degree of MBA IN Department of Management Studies Anand Institute Of higher Technology ANNA UNIVERSITY CHENNAI 600 025 JUNE 2009 I BONAFIDE CERTIFICATE Certified that this project report titled “A Study on Financial Analysis in Rane Engine Valves Pvt Ltd at Alanthur “is the bonafide work of Mr./Ms.KOKILA.P (Registration Number: 30307631027)Who carried out the research under my supervision. Certified further, that to the best of my knowledge the work reported herein does not form part of any other project report or dissertion on the basis of which a degree or award was conferred on an earlier occasion on this or any other candidate. Internal Guide Head of the Department (P.Ganesh,M.Com., M.B.A.,M.Phil,( Ph.D.) (Dr.M.Kavitha, M.B.A, M.Phil, PhD.) Submitted to Project and Viva Examination held on_____________. Internal Examiner External Examiner II KOKILA.P (Registration Number: 30307631027) II MBA ANAND INSTITUTE OF HIGHER TECHNOLOGY, KAZHIPATTUR - 603103 DECLARATION I hereby declare that the project entitled A Study on Financial Analysis in Rane Engine Valves Pvt Ltd at Alanthur in partial fulfillment of the requirements...
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...Is Dell's working capital management a competitive advantage? Dell introduced built-to-order manufacturing to the PC industry. This manufacturing process allowed for customers to have customized PCs with the latest technology, and Dell was able to keep its work-in-process (WIP) and finished goods inventory at very low levels. So less capital is spent in inventory and storage. WIP and Finished goods percent to total inventory was 10-20 while IBM e.g. 50-70. See Exhibit 2 DSI is constantly reducing and therefore storage cost as well which affects finally reducing CoGS The company markets its computers directly to its customers and builds computers after receiving a customer order. This build-to-order model enables Dell to have much smaller investment in working capital than its competitors. (same as Just in Time) It also enables Dell to more fully enjoy the benefits of reduction in component prices and to introduce new products more quickly. Low Inventory led to quick adoption of changing technology- e.g. flaw in Intel chip. Dell has grown quickly and has been able to finance that growth internally by its efficient use of working capital and its profitability. 2. How did Dell fund its 52% growth in 1996? ews In 1996, their operating margin increased from 4% to 5% (in 1996)…Operating assets as percentage of sales also reduced….from 31.94% to 29.40% (in 1996)…(operational efficiency) so sales increased using less assets, this generated extra working capital to...
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...26-4 Working Capital and Cash Conversion THE GREEK CONNECTIONBalance SheetAs of December 31, 2012 (in $ thousand) | Assets Liabilities and Equity | Cash $ 2,000 Accounts payable $ 1,500 Accounts receivable 3, 950 Notes payable 1000 Inventory 1,300 Accruals 1,220 | Total Current Assets $7,250 Total Current Liabilities $3720 Long Term Debt 3000 | Net plant, property, Total liabilities $ 6,720and equipment $ 8,500 Common equity 9,030 | Total assets $ 15,750 Total liabilities and equity $ 15,750 | a. Calculate The Greek Connection’s net working capital in 2012. b. Calculate the cash conversion cycle of The Greek Connection in 2012. c. The industry average accounts receivable days is 30 days. What would the cash conversion cycle for The Greek Connection have been in 2012 had it matched the...
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...IJMBs Vol. 1, Issue 3, septeMBer 2011 I S S N : 2 3 3 0 - 9 5 1 9 (O n l i n e ) | I S S N : 2 2 3 1-2463 ( P r in t) Working Capital Management in Cement Company a Study 1 1 T.Chandrabai, 2Dr.K.Venkata Janardhan Rao Dept. of Mgmt. Studies, Padmasri Dr.B.V.Raju Institute of Tech., Narsapur, Medak, AP, India 2 Dept. of Commerce and Business Management, Kakatiya University, Warangal, AP, India Abstract Working capital is considered to be life-giving force to an economic entity and managing working capital one of the most important functions of corporate management. Working capital management (WCM) is the management of short-term financing requirements of a firm which includes maintaining optimum balance of working capital components – receivables, inventory and payables – and using the cash efficiently for day-to-day operations. The main objectives of this study are to examine and evaluate the working capital management in ACC Limited, examine the management pattern of inventory, liquidity, cash position and receivables management. This also finds the relationship between Working Capital Efficiency and Profitability, Profitability and Market ratios. Keywords Working Capital, Liquidity, Profitability, Market ratios, Inventory I. Introduction Global slowdown that severely affected several countries had its invariable effect on Indian Industrial production as also on other important sectors of Indian Economy. The Cement Industry, which exhibited...
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...BBC PVT. LTD. AND WORKING CAPITAL CHALLENGES | Case Study Report | Table of Contents * Case Background 3 * Key Findings 4 * Recommendations 6 * References 11 * Exhibits 11 Case Background BBC Pvt. Ltd, is a chemical manufacturing company that was established in 2004. It's registered offices are in Bangalore, and its manufacturing is in Lucknow. At the time of the case BBC is in need of working capital to secure a major contract with Indian Railways. The contract would open doors for long term business. BBC's product manufacturing required minimal fixed assets investment and high quality production. Their product was low cost high quality which is a great business strategy. They were able to provide to their customer the marginal price which made their product more attractive. Furthermore, most of their sales were on credit terms. BBC was very conservative with their working capital management. Its assets were ten times that of their liabilities. They repaid their creditors quickly before the credit period ended, but on the other token they were lenient with their customer’s credit terms. The excess credit to their customers caused excessive blockage to their working capital. Key Findings: BBC has a promising contract in their hands, but must invest a large amount of money immediately. We must determine how they can obtain and manage their funds to upgrade the facility to secure...
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...A Project Report Entitled Study of Working Capital Management of Jain Irrigation System Ltd. (JISL) Submitted in partial fulfillment of Post-Graduate Degree Master in BusinessAdministrat ion TO University of Pune -: Submitted By:- Santosh Deoram Watpad e -: The Research Guide:- Prof. Shekhar Paranjpe -:For The Academic Year:- 2007-09 INSTITUTE OF MANAGEMENT Jain Irrigation Systems Ltd. MET s Institute Of Management, BHUJBA L KNOWLEDGE CITY, MET League of Colleges, Adgaon, Nasik - 422 003 1 ACKNOWLEDGEMENT It gives me immense pleasure to present this project report on Working Capital Management carried out at Jain Irrigation Systems Ltd. In partial fulfillment of post-graduate course M.B.A. No work can be carried out without the help and guidance of various persons. I am happy to take this opportunity to express my gratitude to those who have been helpful to me in completing this project report. At the outset I would like to thank Mr. S.R. Gohil sir Head of Dept. (Accounts) for their valuable advice and guidance during my project completion, also MR. Jain Sir (Head of bill passing dept.) and Mr. M.C. Mangal sir (Head of SQC. dept.) for timely help concerning various aspects of project. I also thanks to all staff members of account department for help me to complete the summer internship program. I would be failing in my duty if I do not express my deep sense of gratitude to Prof. Shekhar Paranjpe sir without his guidance it wouldn t...
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...ltdDabur India - Working Capital and Cost Management Dr. Narender L. Ahuja, Institute for Integrated Learning in Management, New Delhi, India Ms. Sweta Agarwal, Institute for Integrated Learning in Management, New Delhi, India ABSTRACT After running as a family business for over 100 years, when in late 1990s the management of the Dabur was handed over to a team of professional managers, the new management faced a gigantic task of improving performance in several critical areas. In particular, working capital and cost management required urgent attention as the company’s performance in these areas had been far from satisfactory. The then prevailing current ratio of 3.2 and quick ratio of 2.4 were considered too high and indicative of heavy unnecessary investments in working capital that would have a negative effect on company’s profitability. Efforts to improve the working capital efficiency were met with stiff resistance from various quarters, but finally yielded results. The case study discusses the measures taken to improve the working capital and cost management performance, and how with concerted efforts the management turned around a highly inefficient working capital management into one of the most efficient in the FMCG sector of Indian Industry. In fact, the company seemed to have taken the matter to the other extreme of negative working capital, with the current ratio declining to 0.8 and the quick ratio to just 0.4 in 2004-05. In 2005-06 as the company was ready...
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...CHAPTER – 1 INTRODUCTION 1. INDUSTRY PROFILE Technology generation in the Indian tyre industry has witnessed a fair amount of expertise and versatility to absorb, adapt and modify international technology to suit Indian conditions. This is reflected in the swift technology progression from cotton (reinforcement) carcass to high-performance radial tyres in a span of four decades. Globalization has led to the linking of the economies of all the nations and therefore major Indian players in the tyre industry are pursuing global strategies to enhance their competitiveness in world markets. The present section broadly undertakes an overview of the Indian tyre industry through an examination of its growth trends with respect to production, exports and acquisition of technological capabilities. Key Features At present there are 40 listed companies in the tyre sector in India. Major players are MRF, JK Tyres, and Apollo Tyres & CEAT, which account for 63 per cent of the organized tyre market. The other key players include Modi Rubber, Kesoram Industries and Goodyear India, with 11 per cent, 7 per cent and 6 per cent share respectively. Dunlop, Falcon, Tyre Corporation of India Limited (TCIL), TVS-Srichakra, Metro Tyres and Balkrishna Tyres are some of the other significant players in the industry. While the tyre industry is largely dominated by the organized sector, the unorganized sector is predominant with respect to bicycle tyres. The industry is a major consumer of the...
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... These changes have sparked an interest in our management to overhaul the current financial policies. Therefore, this financial team was created and asked to help Bob Knight analyze three working capital policies: aggressive, conservative, and moderate. A decision must be made to determine which policy will be the most beneficial for the future of Office Mates. Each policy has its own unique pros and cons, and changes that come with estimating different economic outlooks. * Aggressive policy * Minimizing the amount of cash and inventories * Use only short-term debt * Would result in the smallest investment in net working capital * Minimize accounts receivables * Moderate policy * Falls between the aggressive and conservative policies * Conservative policy * Holding large amounts of cash and inventories * Use only long-term debt * Maximize accounts receivables After analyzing each policy and comparing them with the needs of Office Mates, it has been concluded that Office Mates should use the conservative policy. This will put Office Mates in the working capital structure with the highest ROE at the lowest risk. We also have come to the conclusion that with the potential change in short term interest rates, the conservative working capital structure will not be affected. Summary of Facts Office Mates is a medium-sized manufacturer of metal file cabinets for home and office use. Due to the slowing of paper...
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...Current Ration- Also known as liquidity ratio and working capital ratio shows the proportion of current assets of a business in relation to its current liabilities. Current ratio expresses the extent to which the current liabilities of a business (i.e. liabilities due to be settled within 12 months) are covered by its current assets (i.e. assets expected to be realized within 12 months). A current ratio of 2 would mean that current assets are sufficient to cover for twice the amount of a company's short-term liabilities. It is calculated with the formula below. Current Ratio | = | Current Assets | | | Current Liabilities | | | | Acid test ration- also known as quick Ratio, shows the ratio of cash and other liquid resources of an organization in comparison to its current liabilities. Quick Ratio | = | Cash in hand + Cash at Bank + Receivables + Marketable Securities | | | Current Liabilities | Acid test ratio shows the extent of cash and other current assets that are readily convertible into cash in comparison to the short-term obligations of an organization. A quick ratio of 0.5 would suggest that a company is able to settle half of its current liabilities instantaneously. Acid test ratio differs from current ratio in that those current assets that are not readily convertible into cash are excluded from the calculation such as inventory and deferred tax credits since conversion of such assets into cash may take considerable time. Quick ratio may therefore alternatively...
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...Corporation is trying to determine which financial policy, between aggressive, moderate, or conservative, will best fit their business. We will discuss these options and include the calculations that will show the expected rate of return on stockholders’ equity, net working capital position, and current ratio. According to Gitman (2009), profitability is “the relationship between revenues and costs generated by using the firm’s assets-both current and fixed-in productive activities” (p. 639). The firm chooses to increase their profits but must do so by increasing revenue and or decreasing cost. Risk is “the probability that a firm will be unable to pay its bills as they come due” (Gitman, 2009, p. 639). If a firm’s net working capital is high it is a lower risk because it has the funding to pay its bills. The trade-off between profitability and risk is done by changing current assets and current liabilities, separately, to identify the impact of each and decide which fits best with the firm. Expected Rate of Return on Stockholder’s Equity Expected rate of return on stockholder’s equity is determined by taking the percentage of return (profit) that was gained on each dollar that the stockholder invested. The calculation is net income divided by stockholders’ equity. In the model of Scott, shown in Table 1, we see that the expected rate of return for the aggressive policy is 6.89%, moderate policy is 6.81%, and conservative policy is 6.73%. These percentages show that, by using six...
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...Submitted To: Submitted By: Prof. R. Srinivasan Gulshan Sharma FPG1113/021 Impact of working capital on the profitability of the firm | Table of Content Topic.............................................................................................................................Page No. Acknowledgement........................................................................................................ 3 Executive Summary...................................................................................................... 4 Company Profile........................................................................................................... 5 Introduction.................................................................................................................. 10 Objective...................................................................................................................... 19 Research Methodology................................................................................................ 19 Limitation..................................................................................................................... 19 Data Analysis............................................................................................................... 20 Findings............................................................................................
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