Presentation on Summer Internship Programme at TGB

Hiral Aswani -05Jemini Bhavsar -09

EXECUTIVE SUMMARY

• TGB Banquets is in the Hotels sector.

• Bhagwati group was founded in 1989 by Narendra Somani The CMD of the company.

• Sales of Rs 49.98 crore and a Net Profit of Rs 3.68 crore for the quarter ended Dec 2013.

• The TGB group opened a hotel at Ahmedabad namely “The Grand Bhagwati” in the year 1999.

• Ahmedabad’s TGB is a four star hotel .

• Bhagwati banquets has awarded the certificate of excellence for the year 2012 by Trip Advisor.

• Mr. Somani was also awarded “Sindh Bhushan Award” by All India Sindhi Association of Industries in the year 2006 as a young entrepreneur.

MISSION

• They aim to take their vision not just across Gujarat but to every metro pan India and wherever else their imagination takes them. TGB will soon have its presence across India through Banquets, Conventions, Hotels, Restaurants and Bakery’s & Café’s at all major tourist destinations.

VISION

• The Grand Bhagwati is committed to meeting and exceeding the expectations of their guests, through continuous dedication and perfection by their team, whom they rely upon to make it happen and are committed to their growth, development and welfare, resulting to create extraordinary value.

Research Objective

• To analyse the accounting practices adopted by the company in line with the accounting standards.

• To explore the existing auditing methods and to judge its qualitative performance.

• To study the finance activities of the company and documentation required.

• The objective was to get an overview of the finance department of a hotel industry . This includes recording of income and expenses of various outlets of TGB , Preparing annual reports and statements , credit ratings etc

• Decision making on the various aspects of Finance of the company

•

Scope

•This study can be conducted by studying the reports

of previous years of the company and comparing the

reports with its competitors

•Decisions can be taken to achieve high ratings

Limitations

The following were the limitations that I faced during my SIP .•Since I am a student I could not access each and every thing for my knowledge and thus I was limited up to a certain point for instance Confidential documents were not accessible .•Being for a temporary period with the company I was not allowed to get training which company was organizing for their employees so what I could get was a general overview of training and not in particular.

Research Methodology

Research Design

Accounting

• Tally ERP 9.0• Ratio Analysis• Cash flow & Fund Flow

Financing

• Rating: Rating means a classification or ranking of

someone or something based on a comparative assessment of their quality, standard, or performance.

Credit Rating• Meaning

A credit rating is an evaluation of the credit worthiness of a debtor, especially a business (company) or a government, but not individual consumers. The evaluation is made by a credit rating agency of the debtor's ability to pay back the debt and the likelihood of default. Evaluations of individuals credit worthiness is known as credit reporting and done by credit bureaus, or consumer credit reporting agencies, which issue credit scores.

Procedure

Rating Agencies

• CRISIL(Credit Rating Information Services of India Ltd)

• ICRA(Information and Credit Rating Services ltd)

• CARE (Credit Analysis and Research Ltd)• FITCH India

Registration

• Credit Rating agencies are regulated by SEBI.• Registration with SEBI is mandatory for carrying out

the rating Business.• A registration fee of Rs. 25000 should be paid to SEBI

Promoter

• A Credit rating agency can be promoted by:• Public Financial Institution• Scheduled Bank• Foreign Bank operating in India with RBI approval• Foreign Credit Rating agency having at least five

years experience in rating securities• Any company having a continuous net worth of

minimum 100 cores for the previous five years.

Eligibility Criteria• Is set up and registered as a company• Has specified rating activity as one of its main objects

in its Memorandum of Association.• Has a minimum Net worth of Rs 5 Crore.• Has adequate Infrastructure• Promoters have professional competence, financial

soundness and a general reputation of fairness and integrity in Business transactions , to the satisfaction of SEBI.

• Has employed persons with adequate professional and other relevant experience, as per SEBI directions.

Fixed Deposit Work

o Fixed deposit at TGB is unsecured.

o Minimum period is for 6 months maximum for 36 months.

o Brokerage rates –up to 1 year-1% up to 2 year- 1.5% and up to 3 year- 2%.

o Register of deposit is to be maintained for 8 years.

Schemes of fixed deposit• Cumulative deposit- compounding interest• Non-cumulative deposit- simple interest

• Non-Cumulative deposit cumulative

Period Minimum Amount

Rate of interest (%p.a.)

1 10000 11.752 10000 12.253 10000 12.50

Period Minimum amount

Payable on maturity

Yield (% p.a.)

1 10000 11228 12.282 10000 12729 13.643 10000 14467 14.89

• Recording all the information of the depositors as per the available forms in excel sheet.

Auditing

7’S Model

Barriers to entry

Bargaining power of supplies

Bargaining power of consumer

Rivalry among

competitors

Exist of barriers

Porter’s 5 Force Model

Conclusion

• We have concluded that hotel management industry is growing rapidly in current market scenario. The Grand Bhagwati has awarded the certificate of excellence for the year 2012 by the trip advisor. The working style of The Grand Bhagwati is systematic and very effective for growth.