Financial Statements and Financial Analysis of ACC Cemet

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T R A I N I N G P R O J E C T R E P O R T

ON

FINANCIAL SYSTEM & FINANCIAL ANALYSIS

IN

ACC LTD GAGAL CEMENT WORKS

SESSION (2008-2009)

SUBMITTED TO SUBMITTED BY:

MR.SANJAY JOHARY

(MANAGER FINANCE)

KURUKSHETRA UNIVERSITY,

KURUKSHETRA

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INDEX

________________________________________________________________________

ACKNOWLEDGEMENT

UNDERTAKING

PREFACE

HISTORY OF INDUSTRY

ASSOCIATED CEMENT COMPANY LTD

CORPORATE PROFILE OF ACC LTD

ENVIRONMENTAL POLICY OF ACC LTD

MISSION & VISION OF ACC LTD

ARTICHETS OF ACC LTD

ACC MILESTONE

GAGAL CEMENT WORKS

INTRODUCTION

GEOGRAPHICAL DETAIL

CONTRIBUTION TO GOVERNMENT

QUALITY POLICY

ENVIRONMENTAL POLICY

PRODUCTION SYSTEM IN GAGAL CEMENT WORKS

MANUFACTURING PROCESS

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POWER

CEMENT PLANT

DEPARTMENTATION

FINANCE DEPARTMENT

ACCOUNTING SECTION

COST SECTION

FINANCIAL CONDITION OF ACC LTD

FINANCIAL HIGHLIGHTS OF THE COMPANY

BALANCE SHEET OF ACC LTD

PROFIT & LOSS ACCOUNT OF ACC LTD

FINANCIAL POSTION OF ACC LTD

SHORT TERM

LONG TERM

NEEDS OF STUDY

OBJECTIVES OF STUDY

RESEARCH METHODOLOGY

DESIGN OF STUDY

RATIO ANALYSIS(FINDINGS)

LIMITATION OF STUDY

FINDINGS

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RECOMMODATIONS/SUGGESTIONS

POLICY IMPLICATIONS

BIBLIOGRAPHY

__________________________________________________________________

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HISTORY OF CEMENT INDUSTRY

The history of the cement industry is the story of civilization from primitive caves of prehistoric times to the skyscrapers of the modern age. It is said that the use of cement is from period use of fire Egyptians utilize gypsum plaster as cementing material as early as 3000 BC in building their monuments.

Material cement has existed the roman empire Joseph Arpdin invited Portland cement in 1824 after the discovery of hydraulic properties of time, patented his product which was call Portland cement. Portland stone which is lime stone quarried on Portland bill indorsed, England. Modern cement is outcome of effort of chemist’s technologist & architects.

Cement is binding agent having hydraulic properties, which after hydration gives the setting properties strengthening concrete. Intergrading, Clinker, Gypsum, & Pozzolanic material in a proper ratio to get Portland Pozzolane Cement manufacture cement.

Cement essentially made up of material containing calcium silicon, aluminum and iron. Limestone, marl and chalk are major source of clay shale, quartzite, bauxite iron ore provide silicon, aluminum & iron components.

CEMENT INDUSTRY OUTLOOK AND OPPORTUNITIES:

India is the second largest producer of cement in the world. The cement industry witnessed the significant growth of 7.75 % in the calendar year 2008. During the year, most cement companies operated at high capacity utilization levels to meet increasing demand. While the pricing environment was favourable during the year, there were significant increasing cost particularly in energy, transportation and other inputs. The year was commendable one considering the massive increase in the production of blended cement, especially fly ash based. With rapidly growing of housing,

Infrastructure and real estate sectors and the ambitious plan for the developing Special Economic Zone (SEZ), the cement industry is expected to enjoy double digit growth.

Cement remains the highest taxed among all the essential infrastructure inputs in India. Various govt. taxes and duties put together constitute over 70 % of the extra-factory

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price. Cement industries are a major contributed to the exchequer with excise duty alone working out to be over Rs. 5500 crores annually. Yet it is irony that cement is an essential commodity required by all sections of society including common man.

The cement industry receives coal through long term linkages. Ministry of coal is not sanctioning linkages to new capacity which is adversely affecting the cement industry. The situation becomes all difficult, as the ministry of coal is supplying 80 % of total requirement of the cement industry through Fuel Agreements (FSAs). While cement plants may have to procure through other channels.

Cements industry is largely dependent on captive power generation as the power availability situation is grim in the most producing steps, both in term of quality and quantity. Most cement plants have been compelled to make matters worse; some state governments are also imposing taxes and duties on these captive power plants.

Although expectations are the industry will perform well during 2007 with demand likely to grow about 9 to 10 %. The demand supply scenario will be balanced most regions, though some region may experience seasonal tightness. Industry should be appreciative of the govt. as a target of 8 to 9% growth has been aimed for in the XI Plan, and the cement industry is an integral part of the core sector of industries.

MAJOR COMPANIES IN THE CEMENT INDUSTRY ARE:-

The Associated Cement Companies Ltd.

Birla Group.

Larsen & Turbo.

J.K. Group.

India cement.

Guraj Ambuja.

CORPORATE PROFILE OF ACC LTD.

The associated cement companies (ACC) story begins in 1936. War clouds were gathering over Europe; the economy of the western world was deep in recession; and an Indian industry was reeling under severe difficulties. But one man undaunted by the times

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was building a vision for the future. The man was F.E. Dinshaw –a man of tremendous foresight and outstanding initiative. The vision was to build a strong and unified cement industry that not would not only with stand all difficulties but also fulfil its responsibilities to the nation. The result was the amalgamation of ten of the existing cement companies – belonging to four large industrial houses of that time, viz, the house of Tata, Khatau, Dinshaw and kellick Nixon-to form the nucleus of what is today known as ACC LTD (formerly the associated cement companies)

Barely three years was later the fledging company catapulted into the fiery cauldron of World War II and resources were geared to meet that onslaught. ACC was there –more than that eyewitness to history

Over the year ACC realized that people are as different as they are similar .different needs different dreams. With its depth of knowledge and width of experience ACC today is period to fulfil the hopes and aspirations of the people across the length and breadth of the country.

For more than six decades now. ACC has has been forging a pioneering path making cement. Along the way it sharpened its expertise on the cutting edge of the latest processes/ technologies; learning /adapting- -no just transplanting –to meet the specifies of local operating parameters in the process- setting standards, innovating, non just meeting needs, but anticipating them.

ACC is a very fond acronym in India, often assuming synonimity with cement. With a annual cement capacity of over 12 million tones, the company’s operation are spread throughout the country with 12 cement plants, 3 refractories, 12 regional marketing offices, several area offices, and a dedicated band of people from all corners of India. Thus in industrial backdrop of India ACC stands for multi-product, multi-unit company.

The companies various businesses are supported by a powerful, in-house research and technology backup facility-the only one of its kind in the Indian Cement Industry.

ACC has also extended its services to overseas, to the Middle East, Africa and South America, where it has provided technical & management consultancy to a variety of consumers, and also helps in the operational maintenance of cement plants abroad.

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In addition to its modernization and expansion, ACC has earmarked on an all around internal improvement program through introduction of various world class benchmarking and total productivity maintenance practices. Through an organization wide Business Process engineering, it has able to achieve revenue enhancement and cost savings by optimally aligning business practices with customer needs. It would also result in further simplification of the internal management process and delay ring and decentralization for fast decision making purposes.

Today, ACC stands poised to enter the new millennium, ready to seize the opportunities and face the challenges that lie ahead. With more than six decades of experiences, ACC has a rare perspective of sound business strategies, with which ACC is poised to maintain its leadership in Cement Industry.

A GLIMPS ON THE HISTORY ON SUCCESS THE Associated Cement Companies Limited is a multi business enterprise with operation in cement manufacturing. It is one of leading companies in India, producing more than one-fourth of national output. ACC. Ltd as company duly registered under Indian Companies Act 1956, having its registered office at Cement House, 121 Maharishi Karv Road, Mumbai-400020.It has 14 cement plants spread all over the country and has major force of its industry through customer satisfaction & through continuous innovation in quality of the product. As company ACC Ltd. is committed to make and deliver as cheaply as possible.

Initially, when cement was introduced in 1914, South India Industry Ltd.started first cements plant near Madras. But due to lack of labors and knowledge in manufacturing of cement, this plant after a few months working closed down. After ward in 1912-1919 two more plants wee started in Katni situated in Madhya Pradesh and in,Lakhri in Rajasthan, before 1924 six more plants were started at various other places but they did not led any good start.

In 1936 with the effort of Mr.Dinshaw a group of companies and formed Associated Companies Ltd.

Many men of outstand initiative and foresight contributed towards the development of cement industry in India. About 62 years ago in 1936 a number of companies belonging to the house of Tata Khatias and Kellick, Nixon combined to from “The associated

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Cement Companies Ltd”.Great industrialist and patriot Mr.F.E.Dinshaw was mainly responsible into a single organization.

The objectives of this merger were not to attain monopolistic position but to make and deliver cement as cheaply as possible. Mr Dinshaw added for new factories in ACC group from 1929 to 1936. During Second World War, the cement was deliver as essential commodities under the defences of Indian rule and through under price and distribution control. The cement industry gets further impetus under the leadership of ACC.

CHANGE IN THE NAME OF THE COMPANY & ACCOUNTING YEAR

The company has changed its name to ACC Limited w.e.f. Sept.01, 2006 pursuant to resolution passed by the shareholders at the 70th Annual General Meeting of the Company and after obtaining all requisite approvals.

The accounting year has been changed from April-March to January-December. Therefore the accounts have been drawn up for nine months, for the period ended December 31, 2005.

SUBSIDIARIES AND ASSOCIATES OF ACC

In addition to the main cement business has certain joint ventures, subsidiaries and associations formed through technical collaboration and partnership with globally reputed companies, mining and radial tyres. In the year 2000, the management of ACC decided to divest those of its non- cement businesses that are unrelated and do not enhance or complement the company's basic strength.

Bargarh Cement Limited (BCL)

The newest subsidiary of ACC, was formerly called IDCOL Cement Limited. BCL has a cement plant located at Bargarh near Sambalpur in Western Orissa with a capacity of 0.96 million tonnes per annum. The Bargarh cement plant has a modern dry process kiln and predominantly manufactures Portland cement, most of which is sold in the state of Orissa. BCL became a subsidiary of ACC in December 2003 when ACC purchased from the Industrial Development Corporation of Orissa Limited its entire shareholding in BCL amounting to 86.79% of BCL's equity share capital. In March 2004, BCL became a 100 % subsidiary of the company after ACC purchased the remaining 13.21 % equity shares in BCL held by the Unit Trust of India.

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Bulk Cement Corporation (India) Limited (BCCI)

Situated at Kalamboli, in Navi Mumbai (formerly New Bombay), this company caters to bulk cement requirements of the city of Mumbai and its environs. It has two cement storage silos with a capacity of 5,000 tons each. The plant receives cement in bulk from ACC plants at Wadi. The plant has its own special purpose railway wagons and rakes and its own railway siding. The first of its kind in India, BCCI is equipped with all the facilities required by increasingly sophisticated construction sites in a bustling metropolis, including a laboratory, a fleet of specialized trucks and site silos for the convenience of customers and is capable of offering loose cement in bulk-tanker vehicles as well as packed cement in bags of varying sizes from 1 tonne down to 25 kg bags. BCCI is situated strategically on the outskirts of Mumbai, just off the new Mumbai-Pune Expressway. It is a landmark structure spread over 30 acres of land.

Damodhar Cement & Slag Limited (DCSL)

This subsidiary company has a cement-grinding unit located at Madhukunda, in the Purulia district of West Bengal. With a capacity of 5.25 lakh tonnes per annum, it is a vital source of cement to the eastern India. DCSL offers ACC Super, a premium brand of blended cement. ACC Machinery Company Limited (AMCL)

Located in the Butibori Industrial estate near Nagpur, AMCL manufactures machinery and equipment for use in chemicals and cement industries such as bulk transports, vertical pre-grinding roller mills and blowers and tyre and rubber manufacturing machinery such as presses, Mixer and extruders.

ACC Nihon Casting LimitedThis state-of-the-art foundry is also based in Butibori, near Nagpur and manufactures alloy steel castings for a range of processing and mineral industries. It was set up in technical collaboration with Nihon Cement Company (now known as Asanotec Ltd)

JOINT VENTURE:

Everest Industries Limited (EIL) This subsidiary of ACC is a leading building products company which manufactures fibre-based cement products, such as sheets for roofing and interiors as well as Non

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Asbestos Flat Sheets for varied applications including pre-fab housing. Its 'Everest' Brand enjoys huge brand equity. Besides roofing, the Company has introduced a range of New Generation Products called E-Board Classic for varied applications in interiors. EIL has four plants in India, Including a modern R&D facility near Nashik in Maharashtra.

Aloca ACC Industrial Chemical Ltd. (AAICL)

This is a joint venture between ALOCA, Aluminium Company of America (60%) the world’s largest aluminium and aluminium chemicals company and ACC (40%). ACCICI commenced operations in Jan. 1944. The plant is on 6.3 acres of land, and processing capacity is 10,000 metric ton of white tabular alumina in a single shift operation. The safety environment, health and industrial hygiene standards of Aloca ACC are a per/comparable with other ALCOA locations worldwide.

INTERNATIONAL ASSOCIATIONS:

With its large pool of skilled scientists, engineers and technocrats who keep abreast of the latest international trends and developments in cement, ACC has successfully handled a diverse range of assignments in different parts of the world, mainly in Asia and Africa. Our project engineering consultancy and project management expertise has been tested against the best in the world.

Saudi Arabia Yanbu Cement Company (YCC)

Since 1979 ACC has been operating and managing a large cement plant owned by Yanbu Cement Company (YCC) and located near the port city of Yanbu in the Kingdom of Saudi Arabia. The Yanbu plant incorporates sophisticated process control systems. YCC

Today has a capacity of over 3.30 million-ton's per annum. Cement production at this plant has continued to exceed the guaranteed quantum stipulated in the contract year after year.

The ACC team of Yanbu has won appreciation for significant achievement make with respect to ISO 9002 certification, launching of ISO 140000 em's certification activity manufacture of Portland Pozzalana Cement and a substantial increase in the quantum of exports.

Iran and India Cement Engineering Consultants PJS (IICEC) Iran

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Iran and India Cement Engineering Consultants PJS (IICEC) is a joint venture company between ACC and Far Khuzestan Cement Company, Iran's largest cement company. IICEC provides consultancy services to the Iranian Cement Industry in areas such as process diagnostic studies of existing plants, up gradation and capacity enhancement of existing cement plants and training Iranian engineers to upgrade their knowledge and skills.

Nigeria - Dangote Industries

ACC has been retained by M/s Dangote Industries, a leading diversified industrial group of Nigeria, to provide comprehensive engineering consultancy for setting up their proposed new green field cement plants of capacity 3 x 7000 TPD (ton's per day) and for optimization and up gradation of their existing plants from 2x2000 TPD to 2x3500 TPD.

ENVIRONMENTAL POLICY OF ACC LTD.

Ensure continual improvement in environmental performance by carrying out periodic review of action plan.

Prevent pollution and minimize fugitive emissions.

Comply with all applicable legal and regulatory requirements.

Create environment awareness among employee and community at large.

Minimize the waste generation at source reutilize the work if generated.

Conserve energy and mineral resource.

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Region (South West)

Region (East)Region (North)GAGAL

TIKARIALAKHERI

KYMORE

JAMUL

CHAIBASA

SINDRI

DCW

BARGARH

CHANDA

WADI

MADUKKARAI

MISSION OF ACC LTD.

LEADERSHIP:- Maintain our leadership of the Indian cement industry through the country modernization and expansion of our manufacturing facilities and activites and through the establishment of a wide and efficient marketing network.

PROFITABILITY:- Achieve a fair and reasonable return on capital by promoting productivity throughout the company.

GROWTH:- Ensure a steady growth of business by strengthening our postion in the cement sector.

QUALITY:- Maintain the high quality of our products and services and ensure their supply at fair prices.

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EQUITY:- Promote and maintain fair industrial relation and environment for the effective involvement, welfere and development of staff at all levels.

RESPONSIBILITY:- Fulfill our obligation to society, specifically in tha area of integrated rural development and in safeguarding.

PIONEERING:- Promote research and development effort in the area of product development and energy and fuel conservation, to innovate and optimize productivity.

VISION OF ACC LTD.

Vision of ACC is to be one of the most respected companies in India; recognized for challenging convections and delivering on our promises.

ARTICHETS OF SUCCESS.

S.NONAME OF DIRECTOR NATIONALITY

1.

MR.N.S.SEKHARIA (CHAIRMAN)

INDIAN

2.

MR.PAUL HUGENTOBLE (DEPUTY CHAIRMAN)

SWISS

3.

MR.SUMIT BANERJEE (MANAGING DIRECTOR)

INDIAN

4.

MR.A.L.KAPUR

INDIAN

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5.

MR.S.M.PALIA

INDIAN

6.

MR.NARESH CHANDRA

INDIAN

7.

MR.MARKUS AKERMAN

SWISS

8.

MR.D.K.MEHTROTRA

INDIAN

9.

MR.R.A.SHAH

INDIAN

10.

Dr.NIRMALYA KUMAR

INDIAN

11.

MR.SHAILESH HARIBHAKTI

INDIAN

12.

MR.ANIL SINGHVI

INDIAN

13.

MR.A.K.JAIN (WHOLETIME DIRECTOR)

INDIAN

ACC MILESTONES.

1936

Incorporation of The Associated Cement Companies Limited on Augest 1, 1936.

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1936

First Board meeting of The Associated Cement Companies Limited held at Esplanade House, Mumbai on November 10, 1936.

1937

With the transfer of the 10th company to ACC, viz., Dewarkhand Cement Company, the formation of ACC is complete on October 23, 1937.

1944

ACC`s first community development venture near Bombay.

1947

India`s first entirely indigenous cement plant establish at Chaibasa in Bihar.

1952

Village welfare scheme launched.

1955

Sindri cement works used the waste product calcium carborate sludge from fertilizer factory at Sindri.

1956

Bulk cement Depot established at Okhla, Delhi.

1957

Technical training institute established at Kymore, Madhya Pradesh

1957

Katni Refractories.

1961

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Blast furnace slag from TISCO used at the Chiabasa Unit to manufacture Portland Slag Cement for the first time in India.

1961

Oilwell Cement manufacture at ACC Shahabad Cement Works in Karnataka for cementation of oilwells up to a depth of 6000 feet.

1961

Manufacture of Hydrophobic (waterproof) cement at ACC Khalari Cement Works in Bihar.

1962

Manufacture of Accoproof a waterproofing additive.

1965

ACC`s Central Research station establish at Thane.

1965

Manufacture of Calundum, a High Alumina Binder,firecrete, Low Density Alumina Castables and high Alumina Refractory cement.

1965

Manufacture of Portland Pozzolana Cement.

1968

Advent of computer in ACC for data processing and designing management information and control systems.

1968

ACC supplied and commissioned one-million-tone iron ore palletizing plant ordered by TISCO.

1971

Manufacture of Whytheat Castables A, K, C and Cal-Al-75.

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1973

Takeover of the cement marketing company of India (CMI).

1977

ACC received ASSOCHAM first national award from the year 176 instituted for outstanding performance in promoting rural and agriculture development activities.

1978

Introduction of the energy efficient precalcinator technology for the first time in India. Full scale commercial production based on MFC technology at Wadi in 1979.

1979

ACC wins international contract for operation and management of a new one million tone cement plant at Yanbu-Ras Biridi in Saudi Arabia.

1982

Commissioning of the first MPTA plant in the country at Wadi, Karnatka.

1984

ACC achieves a breakthrough in import substitution by developing and supplying a special G type of oil well cement to ONGC.

1987

ACC develops a new binder for use at sub-zero temperatures, which is successfully used in the Indian expedition to Antarctica.

1992

Incorporated of bulk Cement Corporation of India, a joint venture with the Government of India.

1993

ACC starts the commercial manufacture of Ready Mixed Concrete at Mumbai.

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1998

Commissionong of the 0.6 MPTA cement grinding unit at Tikaria, Utter Pradesh.

1999

Commissioning of captive power plants at the Jamul and Kymore plants in Madhya Pradesh.

1999

Tata group sells 7.2% of its stake in ACC to Ambuja Cement Holding Ltd., a subsidiary of Gujarat Ambuja Cement Ltd. (GACL).

2000

Tata group sells their remaining stake in ACC to the GACL group with 14.45% now emerge as the single largest shareholder of ACC.

2001

Commissioning of the new plant of 2.6 MPTA capacity at Wadi, Karnataka plant, the largest in the country and among the largest sized kilns in the world.

2002

ACC wins PHDCCI Good Corporate Citizen Award.

2003

IDCOL Cement Ltd. becomes a subsidiary of ACC.

2004

IDCOL Cement Ltd. is renamed as Bargarh Cement Limited.

2004

ACC raise US $ 100 million abroad through Foreign Currency Convertible Bonds for US $ 60 million and Global Depository Share for US $ 40 million. Both offering are listed on the London Stock Exchange.

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2004

ACC named as a Consumer Super brand by the Super Brand Council of India becoming the only cement company to get this status.

2004

Green Tech Safety Gold and Silver Award awarded to Madukkarai Cement Works and Katni Refractory Works by Green Tech Foundation for outstanding performance in Safety Management System.

2005

ACC receive the CFBP Jamnalal Bajaj Uchit Vyavahar Puraskar

Certificate of Merit-2004 from Council For Fair Business practice.

2005

Holcim group of Switzerland enters strategic and alliance with Ambuja group by acquiring a majority stake in Ambuja Cement India Ltd (ACIL) which at the time held 13.8% of total equity share in ACC. Holicm simultaneously makes an open offer to ACC shareholder, through Holcim Cement Pvt Ltd and ACIL, to acquire a majority shareholders in ACC. Pursuant to open offer, ACIL`s share holding in ACC increases to 34.69% of the equity share capital of ACC.

2006

ACC receives Good Corporate Citizen Award 2005-06, from Bombay chamber of commerce.

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BUSINESS RELATION BETWEEN ACC & HOLCIM

A New Association was forged between ACC and the Holcim Group of Switzerland in 2005. In January 2005, Holcim announced its plans to enter into a long-term strategic alliance with the Ambuja Group by acquiring a majority stake in Ambuja Cements India Ltd. (ACIL), which at the time held 13.8 per cent of the total equity shares in ACC. Holcim simultaneously announced its bid to make an open offer to ACC shareholders, through Holcim Cement Pvt Limited and ACIL, to acquire a majority shareholding in ACC. An open offer was made by Holcim Cement Pvt. Limited along with Ambuja Cements India Ltd. (ACIL), following which the shareholding of ACIL increased to 34.69 per cent of the Equity share capital of ACC. Consequently, ACIL has filed declarations indicating their shareholding and declaring itself as a Promoter of ACC.

Holcim is the world leader in cement as well as being large suppliers of concrete, aggregates and certain construction-related services. Holcim is also a respected name in information technology and research and development. The group has its headquarters in Switzerland with worldwide operations spread across more than 70 countries. Considering the formidable global presence of Holcim and its excellent reputation, the Board of ACC has welcomed this new association.

The company implemented an ERP system that has standardized business process to run SAP software called “CONNECT INDIA” system is based on a template that caters to ready-mix concrete business, cement and AFR process of the company with the assistance of Holcim Group. All operations, locations and transaction become fully integrated in a manner i.e. on line with updated data and information. The new system will greatly enhance the company’s capability to capture and process a comprehensive range of data to be used for decision making and day to operation while automating some processes which were not part of earlier IT system. Project connect India integrates tighter control through well defined authorization profiles and rigid system. The new features serves as triggers to usher in better work habits and practices.

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GAGAL CEMENT WORKS

INTRODUCTION :

Gagal Cement Works implemented & obtained ISO14001 Environment System, ISO9001:2000 Quality Management System & OHSAS18001 Occupational Health and Safety Management System Certification.

The Gagal Cement Works was set up in the year 1984 wit the aim to serve the market of Himachal Pradesh, Punjab, Uttaranchal, Utter Pradesh and Jammu & Kashmir. ACC was the first to put up large scale industry house in a backward area of Himachal Pradesh. Gagal-1 unit started with an annual capacity of 0.56 Million Tones(with one kiln of 1700 TPD). Gagal-11 unit of 1 Million Tone capacity (with one kiln of 3300 TPD) was installed in 1994-1995. Today Gagal Cement Works has risen to produce 3.2 million tones of blended cement and is like to increase to 4.0 Million Tones in the current financial year 2005 to 2006.Gagal Cement Works is market leader in northern region and maintains its market share in all strategic markets.GCW is the largest cement unit in this entire Zone. Four other major cement manufactures from Himachal Pradesh, Punjab and Rajasthan are his competitors.

ACC cement has very strong brand image, trusted by generation for consistent and durable cement quality, fair business and practice and long association with dealers and customers are the principal factor which provide us competitive advantages over the other brand. ACC unique R & D support and business policy, differentiate it from its competitors.

GEOGRAPHICAL DETAILS

Among the largest private sector companies, ACC is the only company to set up a cement plant in 1982 in backward designated area at Barmana, Distt. Bilaspur (HP) and started production with effect from 12th March 1984.

Barmana is 18 kms north to Bilaspur. The National Highway No.21 connecting Ambala in Haryana and Manali in H.P. passes through Gagal Cement Works and its colony.

The colony is at latitude 31.5-degree north and 77degree East Longitude. The total land acquired for the factory, colony and mining area is 2319.10 bighas. Factory

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covers 365 bighas, the colony covers 345 bighas and the mining area is about1633 bighas. The topography of the area around the worksis mount-ainous. Mean maximum temperature of the area goes upto 45 degree Celsius in the month of June and the minimum temperature upto 3-degree in the month of December.

The work has generated direct and indirect employment to the scale of nearly 12000.

Nearby Towns: Bilaspur, Sunder Nagar, Mandi.

CONTRIBUTION TO GOVERNMENT

Annual contribution to center government by way of taxes, duties is 155 crore out of which for Himachal Government is 100 crore. And along with this it is also helping Govt. as its social responsibility. The company has constructed a Govt. degree college; it is spending money on schools, hospital and on other works of public welfare.

GAGAL CEMENY WORKS-AN UNRELENTLESS PURSUIT TOWARDS EXCELLENCE

Gagal Cement Works is committed to deliver quality products to the customers. Gagal Cement Works has to its credit many a prestigious certifications like IS/ISO 9002, ISO 14001 for environmental management system and OHSAS 18001 for adopting high class measures in the sphere of Occupational Health and Workers Safety in the manufacturing of cement.

QUALITY POLICY

Build Quality In

Do not Sort Bad Quality Out

Quality Improvement is Limitless and therefore Continuous

Concern for Quality is for Entire Organization and Not Just for Product

Satisfy Customer Fully and Continuously

GAGAL CEMENT WORKS- A SYSTEMATIC APPROACH FOR CLEANER WORLD

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ACC GAGAL Cement Works is the first point in Himachal Pradesh to have EMS certificate. The Bureau of Indian standards awarded this certificate to the works in March 1999. The certificate has resulted in batter understanding among all the employees, of overall environmental issues related to the plant. The main feature of EMS at Gagal is total involvement of employees.

EMS is a program of continuous environmental improvement following a well-defined sequence of steps drawn from the established project management practice and routinely applied in business environment.

ENVIRONMENTAL POLICY

Prevent pollution and minimize fugitive emissions

Comply with all applicable legal and regulatory requirements

Conserve water, energy and natural resources

Minimize waste generation and utilize the same

Create environmental awareness and provide clean and safe environment to employees and community at large

PRODUCTION SYSTEM IN GAGAL UNIT

Main Raw Material

Limestone

Quartzite

Iron Ore

Shale

Gypsum

Fly Ash

EMPLOYEES IN GAGAL CEMENT WORKS:

The company is having the strength of manpower approximately nine hundred, out of which 90 are from management staff. Company needs low employees because of automation.

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CERTIFICATION:

Certification from IS/ISO 9002, ISO 14001 for environmental management system and OHSAS 18001 for adopting high class measure in the sphere of occupational health and workers safety in the manufacturing of cement

MANUFACTURING PROCESS

The Gagal Cement Works is based on the most modern process of cement manufacturing namely a dry process suspension preheated kiln with precalcener. The limestone is crushed in the crusher. It is than grinding in Raw Mill along with Shale and Iron Ore to fine power. The grinding material is blended to a uniform consistency and fed to the kiln system pulverized Coal in the kiln system to heat the material to a temperature of 1500 degree Celsius. The material undergoes a series of chemical reaction to form a Clinker. The clinker is cooled in the Clinker Cooler and stored in the Clinker silos. It is extracted from the Silos and integrated along with Gypsum and Pozzolanaic material to form Portland Pozzoiana cement. The cement is stored in cement silos. It is packed in 50-kg bags by automatic packing machine, loaded in trucks by auto loaders and various consumption center in Himachal Pradesh as well as the neighbouring states of Punjab, Haryana and J&K.

POWER:

The co. met 54% power requirement through captive generation. Cost of captive power generation was 34% lower as compare to grid power. In keeping with its policy of maximizing its captive power capability. It is also the process of increasing its thermal captive power generation capacity by another 45 MW. The company has already achieved significant reduction in cost in specific area like fuel, power and manpower. The drives for cost reduction will be further insified all area of operations.

MAP KEY

00 – Limestone quarry and crushing plant.

01 – Llime Stone Stock Pile.

02 – Additive Hooper.

03 – Additive Storage.

04 – Raw Mill Building.

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05 – Blending & Storage Silo.

06 – Preheater.

07 – Gas Conditioning Tower and ESP.

08 – Kiln.

09 – Cooler.

10 – Deep Bucket Conveyor.

11/12 – Clinker/Gypsum Storage.

13 – Coal Mill Building.

14 – Coal Mill And Bag Storage.

15 – Cement Storage Silo.

16 – Packing & Dispatch.

17 – Cement Control Room.

DEPARTMENTATION:QUARRY DEPARTMENT

The Quarry Department is mainly concerned with the maintenance of Mines at ACC Barmana. The sub-departments namely MINE; ELECTRICAL, GARAGE, CRUSHER, STACKER & RECLAIMER support the Quarry department.

MINES Gagal lime Stone Mine is captive mine of M/S ACC Ltd., Gagal Cement Works. The mining lease covers an area of 265.97 hectares. Presently the mine is one of the largest mine of northern India and is fully mechanized by Heavy Earth Moving Equipment's.

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LIME STONE AND COAL HANDLING SECTION

LIMESTONEThe crushed limestone is received from Gagal Quarry with the help of a series of belt conveyer and stacked in stockpile with the help of stackers.

COAL Coal is used as a fuel for firing in the Kiln. Gagal Cement Works receives coal from different collieries of CCC, ECL and NEC by rail upto Kiratpur Sahib.

LABORATORY DEPARTMENT

Laboratory department in coordination with other departments carries our regular quality control functions. Quality and process control measures are exercised at each and every stage of process. Inspection and procurement of raw materials, its testing, quality control of input materials, intermediate products at different level of process and final product that is cement are done as per procedures. Inspections and Test Records are maintained in the Laboratory as per the scheme of testing and inspection. The departmental activities are coordinated by Deputy Manager-QPC who reports to Manager- Production.

Gagal Works laboratory has three sections:

1. Chemical & Instrumentation laboratory

2. Physical Laboratory

3. Site Laboratory

PROCESS DEPARTMENTThe Process department guides the operations in maintaining process parameters so that production is within the desired range of quality parameters. The process parameters are arrived at after discussions with the Departmental Heads of various sections (Raw Mill, Cement Mills & Laboratory)

Manager – Production, coordinates the departmental activities.

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RAW MILLActivity of Raw Mill starts from feeding Raw Material (limestone, Quartzite and Iron Ore) to the Mills and ends at filling the Raw Meal to Silos.

RAW MATERIAL FEEDINGLime stone feeding to Raw Mills/Roller Mills is through the sequence of belt conveyors to different Hoppers. Feed size of limestone is 90 mm and Mills Scale, Shale feeding is from the Gantry to the respective Hoppers through sequence of belt conveyors. Shale feeding is through Reclaimed or Pay Loader.

RAW MILLTwo close circuits two chamber Ball Mills are performing the grinding of limestone and Additive mix. Raw Mill is a tube construction of thick MS plate with steel lines and compartments are separated by diaphragm for improving the retention time and transfer of materials in second for further grinding. Mill is charged with hyper steel balls. Raw material is first fed to Tertiary Crusher (Single Rotor Reversible Impact Crusher) which reduces the size of Mix. After crushing the mix the material is fed to Ball Mill where fine grinding takes place. The finer product is separated by Air Separator and is fed to the blending silos and the coarse material is fed back to the Mill Inlet.

VERTICAL ROLLER MILL (VRM)

In VRM Section the material is directly fed into Mill through the feed belt for grinding. The ground material is stored in continuous flow silos from where it is fed to the Kiln. VRM utilizes hot air from the kiln exhaust for drying the Raw Mix

Deputy Manager – VRM, who reports to Manager (Maintenance) coordinates the departmental activities

KILN DEPARTMENT Kiln Department functions are categorized under two heads, Manager (Maintenance) is responsible for the maintenance of all equipment and Manager (Production) is responsible for the Clinker Production and its quality parameters. Gagal Cement Work has two rotary kilns. Kiln no 1 is having 3 streams coupled with 2 four stage and 1 five stage preheater with 2 precalciners, DDF and MFC. Kilns No 2 are having twin stream 5 stage preheater with precalciners. Pulverized coal is used as a fuel for calcination. The Clinker is discharged to horizontal grate cooler and is stored either in Silos or in stockpiles.

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CEMENT MILLS DEPARTMENT The basic function of the department is to grind the required ratio of clinker and gypsum in the manufacture of OPC and clinker, Gypsum and CCP/fly ash for the manufacture of PPC with the help of 4 ball Mills for cement grinding.

PRE GRINDING UNITRoller Press is the pre-grinding unit for Cement Mills 1 & 2. In Roller Press two rollers are arranged in horizontal fashion. One is fixed and other has a hydraulic thrust arrangement for horizontal movement. The clinker is fed vertically down ward between the rollers and gets crushed by the hydraulic pressure arrangement The product, which is in flakes, is fed to the Ball Mill with other additives for finished grinding.

FINISHED GRINDINGFinished grinding is performed in Ball Mills. Ball Mill is a rotating shell divided into two chambers fitted with shell liners for shell protection and charged with grinding media to the required volume. The impact and friction between the grinding media and material perform grinding. Out put from the ball Mills is fed to the dynamic separator where the coarse and fines of specific sizes are separated. The coarse is again conveyed to the Ball Mill for further grinding. The fines are conveyed to cement silos through a series of elevators and air slides. In order to get the desired specific surface for cement the RPM of separator is varied accordingly?

The departmental activities are coordinated by Dy. Manager-Plant who reports to Manager (Maintenance).

ELCTRICAL AND INSTRUMENTATION (E & I) DEPARTMENT The primary function of the E & I department is to maintain all E & I equipment in the plant to provide the necessary service to ensure the smooth operation of all E 8 & I equipment.

ELECTRICALElectrical equipment mainly comprising transformers, HT/LT motors, DC Motors, switch gears, power distributor system and factory and residential colony lighting

Besides the above E & I department is also responsible for the maintenance if the electrical installations of the colony. The department CO-ordinates with the other relevant departments for proper utilization of the Grid & DG power.

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INSTRUMENTATIONInstrumentation system can be effectively termed as the nervous system of the plant. With the recent advanced in technology instrumentation has become one of the most important aspect of cement manufacturing industry. Almost all the monitoring and controlling parameters are now available I the Central Control Room (CCR) for operators to run the plant efficiently. Accuracy and degree of control has increased manifold due to the latest instrumentation control systems.

Dy. Manager (Electrical) and Dy. Manager (Instrumentation) report to Manager (E & I) for electrical and instrumentation activities.

WORK SHOPFollowing activities are carried out in the workshop department:

1. Departmental maintenance Activities

2. Maintenance of Gear Boxes

3. Compressors & PD Blowers

4. Water Pumps

5. Various equipment at Rambagh Pump House, Filter and Sewage Water Treatment plants.

The departmental activities are coordinated by Dy. Manager (Plant) who reports to Manager (Maintenance).

COMMERCIAL DEPARTMENTProcurement Section: This section looks after that equipment, tools and other requisite items are made available to different departments in time. Deputy Manager-Purchase who reports to Sr. Manager-Commercial coordinates the departmental activities.

Packing House Department: Packing plant is the place where cement is packed & dispatched to various locations. Gagal Cement Works packing department has six silos with total storage capacity of 35200 tonnes. There are three Rotary Packer in Gagal I packing plant with a capacity of 100m TPH each and two electronic rotary packers in Gagal II packing pant with a capacity of 180 TPM each. All the packers have truck-loading facility because the cement form Gagal works to different locations by road.

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The various varieties of cement handled are:

33 Grade Ordinary Portland Cement (OPC)

43 Grade Ordinary Portland Cement (OPC)

PPC (Portland Pozzolona Cement)

Assistant Manager-Plant reports to Manager Commercial for Packing Plant Activities.

Cement Dispatch Section:

Cement dispatch section receives dispatch instruction for Regional Marketing Office, Chandigarh and also from Shimla. The trucks registered with authorized transporters enter the factory gate with Loading Advice cum gate Pass. The Truck’s Gross weight is taken at the Exit Gate by electronic weighbridge and finally an Excise Invoice is issued to the truck driver.The departmental head reports to Manager Commercial.

THE CIVIL DEPARTMENT

In cement industry the maintenance and applications of Refractories in kiln and its auxiliary units are one of the most important job. It is the refractory, which is subject to all sort of, processes and operational conditions like high temperature, abrasion, alkalis, chemicals, thermal shocks, mechanical shocks etc. And protects the metallic body of the units. Due to this fact a strict adherence with the quality of the refractory at every step from receipt to its application is of paramount importance. In the organization the civil department does the complete dealing with the refractory and is also responsible for all civil related jobs in the factory and colony.

Deputy Manager-Civil who reports to Manager-Maintenance coordinates the departmental activities.

MAINTENANCE INSPECTION PLANNING & SYSTEMS (MIPS)

As the name suggests the main function of the department is preparing and planning for carrying out various inspection, maintenance job and top record and update the inspection results. Inspection/Maintenance planning is based upon the diagnosis of change in behavior pattern of sound, temperature, heat, vibration, viscosity etc.

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MIPS department also coordinates in planning the maintenance activities of various departments so as to get optimum utilization of stoppage duration. MIPS also carries out the down tile analysis of main equipment.

GENERAL STORESThe general stores is the department which is involved in making the balanced and timely flow of materials, spares, tools and equipment. General Stores also arranges for the disposal of the scrap and unwanted materials.

Deputy Manager who reports to Works Manager coordinates the activities of the department.

INFORMATION SYSTEM DEPARTMENTThe functions of Information System Department is to:

1.Transformation of EDP to Decision Support System

2. Optimize End User Computing to increase the Individual Productivity

3. Capture Processing and Sharing of Information from the Net

4. In House Development & Deployment of Application Packages

5. Database Maintenance & Administration

Hardware Setup

UNIX based RISC Server.

Win-NT based Intel Servers

Microsoft Exchange Server

P I, P II, P III & P IV PCs : 135

Software SetupOperating System: UNIX SVR 4, Win - NT 4.0, Win – 95 & Win - 98

Oracle 8 I, Developer 2000, Microsoft Exchange 5.5. MS-OFFICE – 97

Office XP

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Intra-plant Connectivity

All plants, RMOs, Head Office is connected through INSAT- 3B services provided by TataNet. Connectivity to the external World is through IIS, Head Office.

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MARKETINGACC Range of cement and blended cements are marketed through a network of 12 regional marketing offices, several area offices and warehouses. A countrywide network of about 11,000 stock lists who, in turn, are assisted by the sub- dealer's back this. Such an all-pervasive marketing network has an enabled ACC to consolidate itself with a national presence. And the customer is assured of being able to get quality ACC products when and where he wants them.

Complementing this is a unique customer services cell comprising qualified civil engineers, which assist and advice customers with prior and post sales services. This service begins with selection of type and grade of cement (where applicable) to trouble - shooting and on site assistance.

Keeping pace with changing times, and an ever- growing need for specialized services, ACC has been offering its marketing expertise and distribution facilities to other producers in cement and related areas. However, a precondition of all such agreement is quality control supervision to be carried out by an ACC expert located at the franchisee's plant. Currently, ACC has franchising agreements for cement marketing with Alcon Cement Company, Goa and Cochin cement Ltd., Cochin.

ACC also exports cement to SAARC Nations, especially Nepal and Bangladesh on a regular basis. Besides ordinary Portland cements, these exports include custom- tailored cements.

HUMAN RESOURCES DEPARTMENT

The basic object of setting up Human Resource Department is to provide inputs to the employees for his optimum level of efficiency. It includes looking after various HR related functions such as training & development, performance and potential appraisal, planning and allocation of manpower, industrial relations including negotiations and dealing with staff functions such as transfer, promotion, disciplinary action, grievance handling etc. Department is also responsible for providing welfare amenities/facilities to employees, dealing with land matters, community development, colony administration etc. Various details of personnel policies are readily available with HR department. Manager-HR & Admn. Coordinates the activities of the department.

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Mgmt. Staff

TM - Top ManagementWM -Works ManagerE4 - Sr. ManagerE3 - ManagerE2 – Deputy ManagerE1 – Assistant Manager

M3 – Senior Officer/Engg.M2 - Officer/ EngineerM1 – Junior Officer/EngineerM - Asst. Officer/Engineer

Non-Mgmt Staff

DAILY PAID

GradesABCDE

MONTHLY PAIDGrades

TCIIIIIIIVVVIVII

MANPOWER

Manager-HR & Admn. Coordinates the activities of the department.

Manpower Arrangement:

` The total manpower employed at ACC, Gagal Cement works are divided into 2 categories. Management Staff is governed by Conduct Rules framed by the company whereas Non-Management Staff is governed by Standing Orders certified under the Industrial Employment (Standing Orders) Act, 1946

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TOTAL PRODUCTIVE MAINTENANCE

ACC Gagal Cement Works has continuously tried to improve upon its operational productivity through world class plant management practices known as Total Productive Maintenance (TPM).

TPM is the integration of the basic functions of Production and Maintenance allowing the employees to jointly take the responsibility for, and ownership of their work processes and equipment. It aims to maximize Overall Equipment Effectiveness (OEE). It establishes and promotes a systematic approach to achieve operational excellence through autonomous working. TPM involves all employees at all levels in every function of its implementation. The most important point about TPM is that it continuously encourages all the employees to undertake continuous improvement of all work-related processes and systems by adopting a proactive problem solving approach. 15th of every month is the day for TPM gate Meeting.

We are striving towards following goals using TPM:

Zero Breakdown

Zero Accident

Zero Defect

Zero Waste

Zero Inventory

SAFETY

Gagal Cement Work constantly keeps a vigil on the safe practices of doing work and in this regard expects the same from all its employees. The following table presents the expectations from both the participants in this regard.

Deputy Manager-Safety coordinates all activities related to safety at works. Besides day to day safety functioning, safety committee meets once in every month. The committee consists of equal number of representatives form management and wage board employees.

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All employees working inside the factory are required to wear helmets, safety shoes and other safety gadgets. Other regular safety activities include monthly Gate Meeting, on first of every month, Nukkad Drama, Quiz & Slogan Competition celebration of National Safety Day etc.

OUR SAFETY COMMITMENT

MANAGEMENT EMPLOYEES

1. Provide Safe working

Condition

The care of oneself and colleague

2.Provide system for the safe control

of work

Immediately report any unsafe

condition/hazard

3. Supply information on work

hazard

Look out for hazards and potential dangers

to self and others

4. Arrange adequate training and

instrucyion in safe working practices

Do not take any short – cuts

5.Make appropriate protective clothing and equipment available

Know the safety guidelines and follow working instructions

6. Punish people violating instructions on safety and health

Always use safety equipment indicated and provided

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FINANCE DEPARTMENT

Introduction:

Finance department plays a major role in the working of any organization as for all-purpose, money is required, which is arranged, procured and disbursed as the finance department. They only make budget go for cost control and maintain to optimum balance of cash for smooth operations. As such the finance department in Gagal cement works is looking after only some of the aspects like payment for rawmaterial purchased, cost control and insurance aspects of the unit. All receipts for cement sold is received by Regional office at Chandigarh and fund financed by unit for different payment from its R.O.

Hierarchy of the finance department:

It is a line organization having a full-fledged department to manage the finance budget, costing and other matter of this department. The ACC Gagal cement works president has to manage two departments mainly i.e. works and finance.

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President

General Manager

Assistant Manager

Senior Officer(Cash)

Senior Officer

ClerksFixed Asset CostEmployee SalaryTransportation

Cash

Senior Officer(Costs)

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FINANCE DEPARTMENT

Account Section:

The accounts section deals all the general accounting, employee payroll, billing and matter related to taxation etc. The department activities are coordinate by Assistant Manager-Accounts that report to Manager-Finance.

Cost Section

The Cost Section does Accounting relating to preparation of Monthly Cost Data and Bill Provisioning.Assistant Manager-Cost coordinates the departmental activities and reports to Manager-Finance.

1. GEERAL OR ACCOUNTS SECTION

Accounting Procedure:

The accounting procedure of ACC Gagal cement works is not a new complicated one. They follow a standardized rule of making entries in there books of accounts or posting or making their trial balance, Gagal cement works unit make its Trial Balance in the monthly basis transaction and rent it to the Head Office. Head Office prepares final accounts for all units not individual unit.

Gagal cement works follows the following procedure:

Step1: The quotations are called for acquiring or procuring the particular assets, raw material fuel etc.

Step2: After then estimate decide/fixed through CESS.

(CAPITAL EXPENDITURE SECTION SCHEME)

Step3: After then allocation of budget for different requirements.

Step4: Then order re place, R.M/Assets be procured, inspected (G.R.No) by the concerned department.

Step5: Then GR No. After quality check etc. is sent to finance department where the cashier makes the payment.

Step6: The ledger department debits this in the books.

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Step7: Finally at the wish of finance department assets is charged and declared free.

FINANCE MANAGER

Finance Manager is totally responsible for all activities to payment/receipts of cash and fund Management of the unit. His decision on payment will be final as personal manual, account manual directives laid by the organization. Under Finance Manager the financial activities is disciplined in the manner as per smooth functionary of all activities of payment such as salary and wages, payment to sundry creditors which include all pretty payments to local contractors, repurations, workers and officers of all grade in working unit.

In detail it can be said that under finance manager their will be payment of salary and wages, allocation of various financial activities such as disbursement of cash by cashier, the payment like contractors bill, local bill, raw material bill, stores and spares payment of raw material and packing material, traveling bills, outstation allowances. All the various mislenious payments sanctioned are being made.

The financial activities are on summation of inputs information system department (I.S.D.) provides various financial, cosying outputs available on daily report, weakly report and monthly reports. It also provides information like cash payment, voucher, cash receipt voucher, and various types of bills also. Various type inventory output summary of transaction bills of output (local, contractor,raw material etc.) various type of finance ledgers of the month and monthly trial balance.

Account staff to routs all payment in account department:-

1. To verify the correction of payment

2. To sanction the payment to:-

a) Staff

b) Officer

c) Management

FINANCIAL MANAGEMENT PREPAPER

Payroll of employee.

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Accounting of sales.

Financial accounts.

Supply bills.

Material Accounting.

COST SECTION:

The Cost Section is a branch of accounting and has been developed due to limitations of financial accounting. Financial accounting is primarily concerned with record keeping directed towards the preparation of profit and loss account and balance sheet. It provides information regarding the profit and loss that the business enterprise is making and also its financial position on a particular date. The information concerning the business enterprise is helpful to the management to control in a general way the major function of business viz., finance, administration, production and distribution but details regarding operating efficiency of these divisions are lacking. Infect, the development in the field of cost accounting is so quick and fields covered by it are expanding so much in magnitude that it becomes difficult for the management to lay down management policies, to guide the management decisions or evaluate operating management performance with the information provided by financial accounting.

OBJECTIVES OF COST ACCOUNTING.

The objective of cost accounting are ascertainment of cost, fixation of selling price, proper recording and representation of cost, data to the management for measuring efficiency and for cost control. The aim is to know the methods by which expenditure on materials, wages and overhead is recorded, classified and allocated so that the cost of products and services may be accurately ascertained, these cost may be related to sales and profitability may be determined. Yet with the development of business and industry. Its objectives are changing day by day.

The following are the main objectives of cost accounting.

a) To ascertain the cost per unit of the different products manufactured by a

Business concern.

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b) To provides a correct analysis of cost both by processors or operations and the different elements of cost.

C) To provides requisite data and serve as a guide to price fixing of products manufactured or served rendered.

d) To ascertain the profitability of each of the products and advise the management as to how these profits can be maximizes.

e) To reveal sources of economy by installing and implementing a system of cost control for materials, labor and overheads.

f) To advise management on future expansion policies and proposed capital projects.

g) To help in the preparation of budgets and implementation of budgetary control.

h) To guide management in the formulation and implementation of incentive bonus plans based on productivity and cost savings.

i) To supply useful data to the management to take various financial decisions such as introduction of new products replacement of labor by machine etc.

j) To help in supervising the working of punched card accounting or data processing through computers.

k) To organize the internal audit systems to ensure effective working of different department.

l) To organize cost reduction program with the help of different department Managers.

COST SHEET OR STATEMENT OF COSTCost sheet is a statement designed to show output of a particular accounting period along with break- up of costs. The data incorporated in cost sheet are collected from various statement of accounts which have been written in cost accounts, either day – by –day or regular records. There is no fixed form for preparation of cost sheet but in order to make the cost sheet useful it is generally presented in columnar form. The columns are for the total cost of current period, per unit for the current period, total cost and per unit cost for a period and so on. Cost sheet is a memorandum statement. Therefore, it does not from part of double entry cost accounting records. Inspite of this, the relationship between cost sheet and financial accounts, which are maintained on double entry system, is very important as cost sheet derives its data from financial accounting.

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SPECIMEN OF STATEMENTS OF COST UNITS:-

PARTICULR

TOTAL COST

(RS.)

COST PER UNIT

(RS.)

DIRECT MATERIAL XXX XXX

DIRECT LABOUR XXX XXX

DIRECT EXPENSES XXX XXX

PRIME COST XXX XXX

ADD: WORKS OVERHEAD XXX XXX

WORKS COST XXX XXX

ADD: ADMINISTRATION OVERHEAD XXX XXX

COST OF PRODUCTION XXX XXX

ADD: SELLING AND DISTRIBUTION OVERHEAD XXX XXX

TOTAL COST OR COST OF SALES XXX XXX

TREATEMENT OF STOCK:

Stock requires special treatment while preparing a cost sheet. Stock may be of raw materials, work-in-progress and finished goods.

STOCK OF RAW MATERIALS:

If opening stock of raw materials, purchased of raw materials and closing stock of raw materials are given, then with the help of the following raw materials consumed can be calculated as:

RS.

Opening stock of raw materials x x x

Add: Purchase of raw Materials x x x

____________

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x x x

Less: Closing stock of Raw Materials x x x

____________

Cost of Raw Materials consumed x x x

_____________

STOCK OF WORK –IN-PROGRESS:

Work –in-progress means units on which some work has been done but which are not yet complete. Work-in-progress is valued at prime costs or work cost basis, but the latter is preferred. If it is valued at works or factory cost then opening and closing cost may will be adjusted as follows:

Prime cost x x x

Add: Factory overhead incurred x x x

Add: work-in-progress (beginning) x x x

x x x

Less: work-in-progress (closing) x x x

Factory or works cost x x x

Stock of Finished Goods:

If opening and closing stock of finished stocks are also given, and then these must be adjusted before calculating cost of goods sold as under:

Cost of Production x x x

Add: Opening stock of finished goods x x x

x x x

Less: closing stock of finished goods x x x

Cost of goods sold x x x

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STATEMENT SHOWING COST OF CLINKER MANUFACTURE

PARTICULARS AMOUNT (RS.)

RAW MATERIAL:

Lime stone

PURCHASED IRON ORE

Purchased Quartzite (corrective materials)

OWN QUARTZITE

Other Raw Materials (shale)

FUEL :

COAL

Coke

POWER :

PURCHASED

OWN GENERATION

DIESEL

COST OF CLINKER

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STATEMENT SHOWING COST OF CEMENT GROUNDS

PARTICULARS AMOUNT (RS.)

COST DATA

Materials consumed :

CLINKER

PURCHASED GYPSUM

FLY ASH

Cost Of Cement Ground

STATEMENT SHOWING COST OF CEMENT PACKEDAND LOADED

PARTICULARS AMOUNT(RS.)

COST DATA

PACKAGING AND LOADING COST EXCLUDING PACKAGING MATERIALS

Packing material cost :

HDPE Bags (High Density Polythene)

COST OF PRODUCTION

TOOLS AND TECHNIQUES OF COST CONTRL

Budgetary control

Standard costing

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Standardization of product and tools and equipment’s

Improvement in design

Material control

Labor control

Overhead control

Production planning and control

Automation

Operation research

Market research

Planning in control of finance

WAYS OF ACKIEVING COST REDUCTION

(In Gagal Cement Works (ACCLtd.) Barmana, Bilaspur)

Reducing setup- time.

Eliminating material handling activities.

Choosing an insertion process.

Using common components.

Choosing best quality of raw material at reasonable price.

Reducing idle time.

FINANCIAL CONDITION OF ACC

SHARE CAPITAL

Issued capital and subscribed capital as a December 31 st,2008 increased to Rs.187.88 crore as against Rs. 187.83 crore as at the end of previous year primarily on account of exercise of conversion option by the FCC Bond Holder.

RESERVE AND SURPLUS

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Reserve and surplus as at December 31st 2008 stood at Rs.4739.85 crore as compared to Rs.3964.78 crore as at the end of previous year. The increase is mainly on the account of retained profits.

LOAN FUND

There has been a increase in loan fund to Rs.482.03 crore as at December 31 st 2008 as compare to Rs.314.70 crore as at the end of previous year.

FIXED ASSETS

Net fixed assets including capital work in progress as at December 31 st 2008 was Rs.3469.70 crore as compared to Rs.3314.72 crore as at the end of previous year.

INVESTMENT

Total amount of investment as at December 31st 2008 was Rs. 679.08 crore as compared to Rs.844.98 crore as at December 31st 2007.

DEFFERED TAX LIABILITIES

Deffered tax liabilities provision outstanding as at December 31st 2008 was Rs.1777.36 crore as compare to Rs.1554.92 crore as at the end of previous year.

NET CURRENT ASSETS

Net current assets decreased to Rs.138.99 crore as at December 31st 2008 from Rs.7.26 crore as at December 31st 2007.

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FINANCIAL HIGHLIGHTS 2008 – 2009 (ACC).

PARTICULAR

2008

(in crore)

2007

(in crore)

Gross Revenue 8548.48 8025.81

Profit/(Loss) before tax and exceptional items 1687.74 1717.18

Exceptional Items 48.86 213.11

Profit/(Loss) after tax and exceptional items 1212.79 1438.59

Dividends 439.14 438.92

Capital Employed 5745.55 4790.57

Net Worth 4927.73 4152.71

Borrowings 482.03 306.41

Debt: Equity Ratio 0.10 0.07

Book Value Per Share at Period End 262.56 221.33

Basic Earning per Share 64.63 76.75

Dividend Per Share 20.00 20.00

Employee(Number) 9557 10,032

Shareholder(Number) 1,55,813 1,27,476

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Profit and Loss Account of the year 2008-07

S.No. Particulars 2008

(in Crore)

2007

( in crore)

1. Rated Capacity 226 224

2. Production 208 199

3. Gross revenue(including Excise Duty) 8548 8026

4. Employees Cost 413 353

5. Mfg. and other Expences 6114 5576

6. Depreciation 294 305

7. Interest Expences 40 74

8. Provision for tax 524 492

9. Income(4-5 to 9) 1163 1226

10. Percentage of Gross Revenue 13.62 15.27

11. Par Share 62.02 65.32

12. Dividend 439 439

13. Retained Profit (10-13) 724 787

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BALANCE SHEET AS AT DECEMBER 31, 2006

S.no PARTICULAR 2008

(in crore)

2007

(in crore)

1. Cash and securties 984 743

2. Receivebles and Inventories 1751 1460

3. Less: Current Libalities 2741 2221

4. Total(1+2+3) (6) (18)

4. Net Block 5073 3964

5. Investments 679 845

6. Other Non Current Assets --. --

7. Tola Assets less Current Libalities 5746 4769

8. Deferred Tax Libalities 336 332

9. Borrowings 482 306

10. Reserves and Surplus 4740 3965

11. Share Capital 188 188

NEEDS OF STUDY

The study in itself a problem of how best to manage capital of a company i.e. ACC Ltd. Therefore, needs for conducting the study are as follows:-

1. Due to time between production and sales, every company has to maintain a substantial portion of working capital to run its operation smoothly.

2. In case of manufacturing companies it is required to maintain about 40% - 50% of their capital as current and remaining in the form of fixed assets for the large scale production of product. So, every manufacturing company needs to arrange required working capital.

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3. Investment in current assets and the level of current liabilities have to geared quickly to change in sales. To be sure, fixed assets investment and long term financial position are also responsive to variation in sales.

OBJECTIVE OF THE STUDY

The objectives aim to highlight the reasons how important is the financial system and financial statement for an organization or company. There are various objectives of the study are as follows:

1. To study liquidity of the firm

2. To study long term financial position

3. T study the short term financial position

4. Earning per share

RESEARCH METHODOLOGY

Our Research project has a specified framework for collecting the data in an effect manner. Such framework is called “Research Design”. The research process which was followed by our consisted of following steps:

Defining the problem & Research objectives:-

The dfinition of problem includes the study of financial system in ACC Ltd GAGAL CEMENT WORKS.

Developing The Research Plan:

It is very important to researching anything we must know about the it`s main sources where we get the main information regarding the research plan. The development of research plan has following steps:

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Data Sources:

There are two types of data were taken into consideration i.e. Secondary data and primary data. The secondary data has been used to make the analysis because we have no much sufficient time and resources to collect the primary data.

Secondary Data:

Secondary data is that data which is collected for other purpose. This is indirect collection of data from sources containing past or recent past information like annual reports, balance sheet, books, newspapers and magazines etc.

Collecting The Information:

For this tesearch methodology, we were collecting information with the help of annual reports, balance sheets and other companies publications.

Analyse The Information:

In this research methodology the next step is to extract the pertinent finding from the collected data. We tabulated this collected data and develop the means of analyzing the data. There are so many tools for financial analysis but we mainly concentrate on the RATIO Analysis and supportive information taken from the other means i.e. comparative financial statements with its major components viz. common size statement, comparative financial statement.

DESIGN OF STUDY

The finance has an important impact on the working of an industry or organization. So it becomes significant to note that the money makes the money. Money plays an important role to run the business smoothly. So it needs a sound planning of finance arrangement and preparation of financial statement.

The design of study is therefore significant to know the financial arrangement and working of capital in the production organization or company like ACC Gagal Cement Works (Barmana).

It is therefore with this point of view the present study has been undertaken as present training report.

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RATIO ANALYSIS

MEANING OF RATIO:-

Ratio Analysis is one of the most powerful tool of financial analysis. It is the process of establishing and interpreting various ratios. It the help of ratios that the financial statements can be analysed more clearly and decisions made from such analysis.

USE OF RATIOS:-

The use of ratio analysis is not confined to financial manager only. There are different parties interested in ratio analysis for knowing the financial position of firm for different purposes. In view of various users of ratios, there are many type of ratios which can be calculated from the information given in the financial statements. The particular purposes of user determines the particular ratios that might be used for financial analysis.

RATIO ANALYSIS OF ACC GAGAL CEMENT WORKS LTD:-

ANALYSIS OF SHORT TERM FINANCIAL POSITION OR TEST OF LIQUIDITY:

The short term creditors of the company like suppliers of goods of credit and commercial banks providing short term loans are primarily interested to knowing the company`s ability to meets its current or short term obligations as and when those become due. The short term obligation of a firm can be met only when there are sufficient liquid assets. Therefore a firm must ensure that it does not suffer from lack of liquidity or there capacity to pay its current obligations. If a firm fails to meet such current obligations due to lack of good liquidity position, its goodwill in the market is likely to be affected beyond repair. It will result in a loss of creditor`s confidence in a firm may causes even closure of the firm. Even a very high degree of liquidity is not is not good for a firm because such a situation represents unnecessarily excessive funds of the firm being tied-up in current assets. Therefore, it is a very important to proper balance in regards to the liquidity of the firm.

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COMMENTS ON FINANCIAL POSITION OF THE ACC WITH THE HELP OF RATIOS:

SHORT TERM FINANCIAL POSITION:-

LIQUIDITY RATIOS:

CURRENT RATIO:-

CURRENT RATIO=CURRENT ASSETS/CURRENT LIABILITIES

CURRENT ASSETS =2735.20Cr.

CURRENT LIABILITIES = 2741.29Cr.

CURRENT RATIO = 1:1( approx)

INTERPRETATION OF CURRENT RATIO:

Current Ratio is an indicator of the firm’s liquidity and its ability to pay its current obligations in time when they become due. As a convention the minimum of ‘two to one ratio’ is referred to as a banker’s rule of thumb. Current Ratio of ACC Ltd. is 1:1. it is matter of concern. As a manufacturing concern there is more investment in the capital goods but current assets also to be increased accordingly to improve the current ratio. A business with heavy investment in fixed assets may be successful even the ratio is low.

QUICK RATIO:-

QUICK RATIO=QUICK ASSETS/CURRENT LIABILITIES

QUICK ASSETS=Cash in Hand and in bank+ B/R + Sundry Debtors + Marketable Securities+ temporary Invesments

QUICK ASSETS = 1349.33Cr.

CURRENT LIABILITIES = 2741.29Cr.

QUICK RATIO = 0.50:1

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INTERPRETATION OF QUICK RATIO:

Usually, a high acid test ratio is an introduction that the firm is liquid and has the ability to meet its current or liquid liabilities in time and on the other hand a low quick ratio represents that the firm’s liquidity position is not good.

As a rule of thumb quick ratio of 1:1 is considered satisfactory. But quick ratio of ACC Ltd. is 0.50:1 it is low, company should take necessary steps to improve this.

ABSOLUTE LIQUID RATIO:

ABSOLUTE QUICK RATIO = ABSOLUTE LIQUID ASSETS/

/CURRENT ASSETS

OR

= CASH & BANK + SHORT TERM

SEC./CURRENT ASSETS

LIQUID ASSETS = 991.48Cr

CURRENT ASSETS = 2741.29Cr.

ABSOLUTE LIQUID RATIO = 0.361:1

INTERPRETATION OF ABSOLUTE QUICK RATIO:

Absolute quick ratio is also important tool. It shows the relation of absolute liquid assets with current liabilities. Rule of thumb for this ratio is 1:2. In regards of ACC Ltd this ratio is quite low high. Management should gave attention in this context.

CURRENT ASSETS MOVEMENT OR EFFICIENCY/ACTIVITY RATIO:

INVENTORY TURNOVER RATIO:

INVENTORY TURNOVER RATIO = NET SALES / AVG. STOCK AT COST

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NET SALES = 7,308.62Cr.

AVG. STOCK = 762.06

INVENTORY TURNOVER RATIO = 9.6times

INTERPRETATION OF INVENTORY TURNOVER RATIO:

Inventory turnover ratio is concerned with the maintenance of level of inventory of finished goods so as to be able to meet the requirements of the business. Level of inventory should neither be too high nor too low. Inventory turnover ratio indicates the number of time the stock has been turned over during the period. In the context of ACC Ltd. is manufacturing company the inventory turnover ratio is good and shows their good efficiency to manage their inventory.

Inventory Conversion Period=Days in year/Inventory

Turnover Ratio

= 365/9.6

= 38.02 days OR 38 days

INTERPRETATION OF INVENTORY CONVERSION PERIOD:

This shows the time taken to clear the stocks. Stock of the company cleared more than five times in the year. It shows their good management of the stores. This is good as a manufacturing concern.

DEBTORS TURNOVER RATIO:

DEBTORS TURNOVER RATIO= NET CREDIT ANNUAL SALES

OR ANNUAL TOTAL SALES/

AVERAGE TRADE DEBTORS

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TOTAL SALES = 7308.62Cr.

AVG. DEBTORS = 299.73Cr.

DEBTORS TURNOVER RATIO = 24.38times.

INTERPRETATION OF DEBTOR TURNOVER RATIO:

Debtor Turnover Ratio indicates the number of times the debtors are turned over during a year. Debtors turnover ratio of ACC Ltd. is higher it shows more efficient management of debtors.

AVERAGE COLLECTION PERIOD = NO.OF WORKING DAYS/

DEBTORS TURNOVE RRATIO

= 365/24.98

= 14.9 Days or 15 days

INTERPRETATION OF AVERAGE COLLECTION PERIOD RATIO:

The average collection period ratio represents the average number of days for which a firm has to wait before its receivables are converted into cash. Average collection period of the ACC Ltd. shows their efficiency for debt collection and shows their credit terms & policy towards debtors.

WORKING CAPITAL TURNOVER RATIO:

WORKING CAPITAL TURNOVER RATIO= SALES/ NET WORKING CAPITAL

SALES = Rs. 7308.62Cr.

NET WORKING CAPITAL = Rs. 2747Cr.

WORKING CAPITAL TURNOVER RATIO = 2.66 times

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INTERPRETATION OF WORKING CAPITAL TURNOVER RATIO:

Working capital Turnover Ratio indicates the number of times the working capital is turned over during a year. Working capital turnover ratio of ACC Ltd. is higher it shows more efficient management of Working capital.

ANALYSIS OF LONG TERM FINANCIAL POSITION OR SOLVENCY:

The term solvency refers to the ability of a concern to meet its long term obligation. The long term indebtedness of a firm include debentures holders, financial institution providing medium and long term loans and other creditors selling goods on installment basis. Long term solvency ratios indicate a firm ability to meet the fixed the interest and costs and repayments schedule associated with its long term borrowings.

(1). DEBT EQUITY RATIO:

Debt Equity Ratio = Outside Funds/Shareholders Fund

Outsiders Funds = 482.03Cr.

Shareholders Funds = 4927.73 Cr..

Therefore Debt Equity RATIO = 0.10:1

INTERPRETATION OF DEBT EQUITY RATIO:

This ratio calculated to measure the extend to which debt financial has been used in business. Being a manufacturing concern there is more investment in the capital goods. Lower of ratio gives the higher margin of safety. There is no standard norm or rule of thumb regarding the ratio. It depends upon the policy of the company. There no much more risk in the companies operation. Therefore they rely on the shareholders funds.

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(2). TOTAL DEBT TO CAPITAL EMPLOYED RATIO:

TOTAL DEBT TO CAPITAL EMPLOYED RATIO=

TOTAL DEBT / TOTAL CAPITALISATION X 100

= 817.82/4927.73 X 100

= 16.5%

INTERPRETATION OF FUNDED DEBT TO TOTAL CAPITALISATION RATIO:

Though there is no rule of thumb but still lesser the reliance on outsiders the better it will be ACC Ltd. can raise funds from the outside sources as there is enough scope.

(3).PROPREITORY OR EQUITY RATIO:

PROPREITORY OR EQUITY RATIO=SHAREHOLDERS FUNDS/

TOTAL ASSETS X 100

SHAREHOLDER FUNDS = 4927.73 Cr..

TOTAL ASSETS = 5,745.55 Cr.

PROPREITORY OR EQUITY RATIO=85.7%

INTERPRETATION OF PROPREITORY OR EQUITY RATIO:

As equity ratio represents the relationship of owners fund to total assets. In ACC Ltd. there is high ratio it indicates better is long term solvency of the company.

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EARNING PER SHARE:

Earnings per Share - [EPS] 2008

(I) Net Profit as per Profit and Loss Account ........................Rs.1,212.79 Cr.

Adjustment for the purpose of Diluted EPS……………………

Interest on Foreign Currency Convertible Bonds ……………..

Less: Tax on above ………………………………………….

Profit for Diluted Earnings per Share .....................................Rs. 1,212.79Cr.

(II) Weighted average number of equity shares for Earnings per Share computation

Shares for Basic Earnings per Share .............................Rs.18,76,45,744Cr.

Add: Potential equity shares on exercise of option of ESOS…. Rs.2,83,742Cr.

Number of Shares for Diluted Earnings per Share .......... Rs.18,79,29,486Cr.

(III) Earnings per Share (Weighted Average)

Basic .................................................................... Rs.64.63

Diluted ..................................................................Rs.64.53

INTERPRETATION OF EARNING PER SHARE:

One of the main party interested in the ratio analysis is the shareholders are the real owners of the company. Earning per share is more important for shareholders because they were the risk taker. In the ACC Ltd. face value of share is Rs.10 and earning per share is Rs.64.63 this shows their good and sound financial position.

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FINANCIAL POSITION OF THE COMPANY:

SHORT TERM FINANCIAL POSITION:

The short term financial position of the company is good enough. Current Assets of the company in the year 2008 is Rs.2735.20Cr.where as the Current Liabilities is Rs.2741.29Cr.

Current Ratio is 1:1. Company needs bit improvement in it so that to make it 2:1.

Short term liquidity position is also good as the acid test ratio is 0.50:1. Company needs bit improvement to make it 1:1.

Turnover Ratio of the company reflects their good and sound position. Stock turnover over ratio is 9.6 times. It is good that they clear their stock more than 5 times in the year. Debtors and creditors turnover ratio also show positive results in their efficiency.

LONG TERM FINANCIAL POSTION:

Long term financial policy is not as better as it should be. No doubt company adopted very nice policy of financing fixed assets from the long term fixed assets and the long term liabilities. Rest payment is made in cash, thereby leading to reduction of the amount of cash.

Debt – equity ratio also gives the same picture. It should be near to one as possible. But it is not than one in every year. Not only but also showing the increasing trends. This is not a good sign.

Proprietary ratio is 85.7%, it is good, and it is 50% or more than it.

Earning per share is the one of most important factor.

Shareholders are the main stakeholders of the company they judge the companies performance on the basis of earning per share & dividend declared by the company. In the accounting year 2007 companies earning per share is Rs.76.75. Dividend paid for the current year is Rs.20 per share.

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LIMITATIONS OF THE STUDY

Except the supreme power, the Almighty, no one is impeccable and prowess enough to accomplish anything without any faults and limitations. A research is no exception. No study is devoid of certain shortcomings. Some problems encountered in this study are under mentioned:

Some officers were too busy to give a sincere response to investigators & hence their response may not relate to real picture.

Manager some time denied disclosing some important financial matters, which can be helpful in this study.

The time period given to me for the completion of the project was short in such a short span of time it is difficult to complete any project in detail.

Some information related to the study, which had been collected from the company was rounded off because of some influence.

FINDINGS

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SHORT TERM FINANCIAL POSITION:

The short term financial position of the company is not good enough. Current Assets of the company in the year 2008 is Rs.2735.20Cr where as the Current Liabilities is Rs.2741.29Cr.


Short term liquidity position is also good as the acid test ratio is 0.50:1. Company needs bit improvement to make it 1:1.

Turnover Ratio of the company reflects their good and sound position. Stock turnover over ratio is 9.6 times. It is good that they clear their stock more than 5 times in the year. Debtors and creditors turnover ratio also show positive results in their efficiency.

LONG TERM FINANCIAL POSTION

Long term financial policy is not as good as it should be. No doubt company adopted very nice policy of financing fixed assets from the long term fixed assets and the long term liabilities. Rest payment is made in cash, thereby leading to reduction of the amount of cash.

Debt – equity ratio also gives the same picture. It should be near to one as possible. But it is not than one in every year. Not only but also showing the increasing trends. This is not a good sign.

Proprietary ratio is 85.7%, it is good, and it is 50% or more than it.

Earning per share is the one of most important factor.

Shareholders are the main stakeholders of the company they judge the companies performance on the basis of earning per share & dividend declared.

In the accounting year 2007 companies earning per share is Rs.76.75. Dividend paid for the current year is Rs.20 per share.

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RECOMMENDATIONS\SUGGESTIONS

Company is not utilizing its resources up to the maximum

Customer base remains the same

SAP is not implemented properly as the employees are not trained to use the same

Company is not looking for increase in the plant capacity.

Implementation of new policies by Holcim is disturbing the workforce in adapting to the new work-culture.

The company is more dependent on outsider’s fund.


Long term financial policy is not as good as it should be. No doubt company adopted very nice policy of financing fixed assets from the long term fixed assets and the long term liabilities. Rest payment is made in cash, thereby leading to reduction of the amount of cash.

The short term financial position of the company is not good enough. Current Assets of the company in the year 2008 is Rs.2735.20Cr where as the Current Liabilities is Rs.2741.29Cr.

High employee turnover rate. The other cement industries are paying good salaries to employees as compare to ACC LIMITED that is why employees are leaving the company.

POLICY IMPLICATIONS

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Some suggestions that I have given to the company and following are the result of those suggestions are as follows;

I suggest them to increase the promotion of Health and Safety at Work, including the prevention of occupational risks and it is in the process.

I suggest them to increase the capacity of plant as it a long term process so company officials said they put that point in the annual board meeting so it is in the process.

Current Ratio of the company is 1:1.so I suggest them to increase that to 2:1 and they are working upon it.

Company is not spending so much on the R& D so I suggest them to increase the same and the company said that they will think to allocate more finance in the budget of the company.

BIBLIOGRAPHY

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1. Pandey, I.M. “Financial Management”, 3rd edition, New Delhi, Vikas Publication House Pvt. Ltd. P-143to145(Approaches of working capital)2. Maheshwari, “S.N, Advanced Accounting”, 4th edition Sultan Chand & Sons Publication, New Delhi, 2004, P.No. (b40-b48)(tools of financial analysis)3. Gupta Shashi.k,,”Managemenet Accounting”,5th edition,Kalyani Publishers,New Delhi, P.No 23.1-23.9(working capital management and finance)4. Goel D.K, “Analysis of financial statement”, 10th edition,Avichal Publishing Company P.No 2.1-2.38(ratio analysis)5. Kothari C.R., “Research Methodology Methods and Techniques” (Second Edition) New Age International Publishers, Ansari Road, Daryaganj, New Delhi-110002. Chapter 4, Page 55-58. Chapter 6, Page 95,100,111. (Methods of data collection, collection of data, and collection of secondary data” are referred before the data collection”.)6. Jain, ,T.R., and Aggarwal, Dr. S.C., “Statistics For M.B.A”,VK publication, PP1-3 Part b, , 2nd Edition ,PP 131-134 Part (“Correlation” is studied to use these test in study.)7. Gupta S.P. and Gupta M.P., “Business Statistics”, Twelfth Edition, Sultan Chand and Sons Publications. PP 237-241,628-629 (test hypotheses testing)8. Annual Report of ACC Ltd. 2008-079. http://www.acclimited.com/financialreports10. http://www.acclimited.com/profile .11. http://www.acclimited.com/management .12. http://www.acclimited.com/achivements. 13. http://www.acclimited.com/productionunits. 14. http://www.acclimited.com/holcim. 15. http://www.acclimited.com/comparison. 16. http://www.acclimited.com/investments.

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http://www.acclimited.com/management

http://www.acclimited.com/profile

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