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SAIL ISP BURNPUR TURN OVER STEEL AS ON 31- 03-2008 PRODUCT JOISIS CHANNELS ANGLES ROUNDS TOR/ TMT FLATS RAILS SAMIS SLABS Z.SECTION Z.PILING STEEL PAR BAR COLL ARCH RIBBED BAR TTASTAR SUB STEEL SCRAP INGOT SUB EXP INCENT 5031101 5031201 5031301 5031701 5031901 50383301 5038301 5030101 5030120 5033902 5033903 5033904 5031801 5031401 96062.010 5044001 5044101 8506.230 16500.550 5260000 4006.360 116568.920 3225253924.02 174620434.89 324785555.30 5833975.30 82230516.04 3636103970.88 CODE QTY 938.510 23597.309 16772.451 559.350 38839.080 535.180 44440.930 10013.510 365.690 VALUE 34600741.75 768707815.12 539717054.26 11718377.06 1252057111.42 24156180.00 1252057111.42 473674848.01 17974330.75

STEEL 5211901 . TOTAL

A PROJECT REPORT ON SAIL-ISP BURNPUR (WEST BENGAL)

STEEL AUTHORITY OF INDIA LIMITED

ACKNOWLEDGMENTIT IS MY GREAT PLEASURE TO HAVE DONE PROJECT TRAINING IN FINANCE DEPARTMENT OF ISP, BURNPUR. DURING THE PROJECT WORKS , I GOT THE OPPORTUNITY TO VISIT ALMOST EVERY DEPARTMENT AND MEET THE FOLLOWING EXECTUTIVES, WHO GAVE PERSOLNAL ATTENTION TO ME WHILE EXPLAINING THE FUCTIONING OF THE FACTORY & THE ORGANIZATION AS A WHOLE. ANY PROJECT IS NOT AN OUTCOME OF A GREAT EXPERIENCE TO LEARN FROM THEM. I WOULD LIKE TO EXPRESS DEEP GRATITUDE AND RESEPECT TO ALL FOR THEIR WHOLEHEARTED SUPPORT, WITHOUT WHOSE HELP ME PROJECT WOULD NOT HAVE BEEN COMPLETED. A FEW AMOUNG THEM WERE.

MR. S.K. PRATIHER D.G.M [H.R.D CENTRE] MR. ISHWER LAL PATEL TRAINING OFFICER [H.R.D CENTRE] MR. A.K MONDAL A.G.M [H.R.D CENTRE] MR. KANAD CHATERJEE Jr. Manager [H.R.D CENTRE] MR. DILIP KUMAR NAG SR. ENGEENERE (EME)

I WOULD ALSO LIKE TO EXPRESS MY DEEPPEST GRATITUTE TO RESPECTED SIR, MR. JAPEN DAS (D.G.M FINANCE), FOR HIS WHOLEHEARTED SUPPORT, WITHOUT WHOST HELP THIS PROJECT WOULD NOT HAVE BEEN COMPLECTED. HE GUIDED ME THROUGH THE OROJECT AND HALPED IN THE RESEARCH PROCESS.

DECLARATION

I DO HEARBY UNDERTAKE TO STATE THAT I, SRI DEBASISH NAG, A STUDENT OF P.G.D.B.M / M.B.A HAVE PREPARED THIS PROJECT ON THE STUDY OF INVOISEING & VAT SYSTEM OF SAIL-ISP BURNPUR. TO FULFILL THE PARTIAL REQUIREMENT TO COURSE OF P.G.D.B.M / M.B.A TAKEN UP IN N.I.M.T B- SCHOOL MOHAN NAGER GHAZIABAD (U.P). APPROPED BY A.I.C.T. E MINISTRY OF H R D GOVT OF INDIA .

I ALSO FURTHER THAT THE PROJECT HAS BEEN PREPARED OF MY OWN WITH THE SECONDARY DETA PROVIDED BY THE COMPANY WHICH IS ESSENTIAL FOR THE COMPLETION OF THE PROJECT.

PRIYABRATA DAS NATIONAL INSTITUTE OF MANAGEMENT AND TECHOLOGY. MOHAN NAGAR GHAZIABAD (U.P) ENROLLMENT NUMBER: - 27344

TO WHOM SO EVER IT MAY CONCERN

This is certify Mr. Priyabrata Das a student of PGDBM, have prepared this project of the study Of Finished goods with Central Excise & VAT system of SAIL- I.S.P on the basic of the information explanations by the company. This project is highly considered to fulfill the requirement for the course completion of PGDBM / MBA taken up, NIMT B-SCHOOL Ghaziabad (U.P).

I further add on the words that Mr. Priyabrata Das is a sincere and hard working student Who has prepared this project by his own with dignity and diligence.

Mr. Japen Das (D.G.M, Finance) External guide (I.S.P-SAIL) BURNPUR (W.B)

INTRODUCTION TO THE COMPANY

A BRIEF HISTORY OF SAIL-ISP, BURNPUR SAIL-ISP BURNPUR IS ONE OF THE OLDEST STEEL PLANTS IN INDIA. IT WAS ESTABLISHED IN 1918 AS PIG IRON IRON PRODUCTION UNIT. IT WAS KNOWN AS INDIAN IRON & STEEL CO. LTD (IISCO). NOW IT WAS KNOWN AS SAIL-ISP, BURNPUR AFTER MERGING WITH STEEL AUTHORITY OF INDIA LTD.(SAIL) ON 16TH February 2006. THE BRIEF HISTORY OF SAIL-ISP, BURNPUR IS GIVEN BELOW IN CHRONOLOGICAL ORDER:-

1870:- BENGAL IRON WORKS WAS ESTABLISHED AT KULTI.

1874:- THE BENGAL IRON WORKS, KULTI, STARTED TO USE COAL IN PLACE OF CHARCOAL. 1882:- THE BENGAL PRESIDENCY GOVT. TOOK OVER THE BENGAL IRON WORKS AND RETAINED IT BARRACKPUR IRON WORKS. 1889:- THE BENGAL IRON & STEEL COMPANY ACQUIRED THE BARRACKPUR IRON WORKS . 1890:- KULTI PRODUCES 40 THOUSAND TONES OF PIG IRON PER ANNUM RENAME AS THE BENGAL IRON & STEEL CO. LTD.

1918:- INDIAN IRON & STEEL COMPANY WAS FORMED.

1922:- IISCO STARTED PRODUCING PIG IRON.

1926:- BENGAL IRON & STEEL COMPANY LTD. RENAMED AS BENGAL IRON CO LTD.

1936:- BENGAL STEEL COMPANY LTD. WORKS WENT INTO LIQUIDATION AND WAS MERGED WITH IISCO. 1936:- STEEL COMPANY. OF BENGAL FORMED.

1950:- PLANNING COMMISSION WAS SET UP IN MARCH.

1952:- STEEL CORPORATION OF BENGAL MERGED WITH IISCO. 1954:- HINDUSTAN STEEL LTD, WAS FORMED ON 14TH JANUARY.

1964:- IISCO STANTON PIPES & FOUNDERY LTD, FORMED AT UJJAIN. 1972:- GOVT, TOOK OVER THE MANAGEMENT OF IISCO ON 14TH JANUARY.

1973:- SAIL WAS FORMED ON 24TH January.1978:- IISCO BECOMES WHOLLY OWNED AS A SUBSIDIARY OF SAIL.

2005:- SAIL TOOK THE CONTROL OF IISCO. 2006:- IISCO MARGED WITH SAIL ON 16TH February & IT IS KNOWN AS SAIL-ISP.

IISCO STEEL PLANT(ISP)ISCO Steel plant (ISP), an integrated steel plant in BURNPUR, has the capacity to produse 4.26 Lakh tonnes of saleable steel and 2.54 Lakh tonnes of pig iron annually. ISP, the erstwhile Indian iron & steel company (IISCO), which was 100% subsidiary of steel authority of India Limited (SAIL), has been amalgamated the parent company with effect from 16th February2006.

ISP produced a large number of steel structural and special section as well as pig iron. The plant pioneered the production of centre sill Z- section used in the fabrication of Wagon and Z-type sheet piling section used in construction of barrages, bridge foundation And other projects and colliery arch section used for roof support in collieries. The plant has Also developed slit rolling for diameter (10mm and 12TMT), which in high demand in the Domestic market.

The plant is set to modernization cum capacity expansion through which its hot metal Production capacity will be raised to 2.5 MT by 2011-12.

ISP is accredited with ISO 9001: 2000 QMS for its Heavy structural Mill and Marchent & Rod Mill. It has also Awarded ISO 14001:2004 EMS for its entire Rolling Mill complex

FINANCIAL HIGHLIGHTS.

PARTICULARS

SAIL PLANT

IISCO STEEL

Gross Sail Other Incomes Exenditure Operating profit Depreciation Interest&Financial Changes Profit befor tax Provision for tax Profit after tax Equity capital

2004-05 24178.48 392.42 19920.67 4650.23 1122.59 899.43 2628.21 116.13 2512.08 4130.40

2005- 06 31800.02 1617.03 22319.70 11097.35 1126.95 605.05 9365.35 2548.38 6816.97 4130.40

2006-07 32279.75 2587.90 27486.85 7380.80 1207.30 467.76 5705.74 1692 4012.97 4130.40

2004-05 1051.26 131.13 1117.77 64.62 13.76 13.77 27.09 0.00 27.09 378.66

2005-06 1487.29 379.41 1768.40 98.30 27.25 24.46 46.59 0.00 46.59 378.66

2006-07 1358.58 202.67 1776.73 (215.48) 26.73 15.41 (257.62) 0.00 (257.62) 0.00

Reserves & Surplus Net worth Total Loans Capital work-in-progress Net fixed assets Total current assets Total current liabilities Working capital Capital employed Cumulative profit Net sales

528.77 4659.17 8688.76 382.20 13153.85 8030.28 5967.23 2063.05 12216.90 22.69 20786.77

5881.32 10011.72 5769.79 366.48 12485.07 14187.43 6608.11 7579.32 20064.39 4758.77 27666.26

8255.19 12385.59 4297.62 757.94 12162.14 17383.73 8108.11 9275.62 21437.76 7950.78 27084.20

(1007.88) (620.22) 268.01 27.89 293.31 322.84 730.10 (397.26) (103.99) (954.57) 928.96

(961.78) (574.02) 205.61 21.75 301.71 435.89 734.34 (298.45) 3.26 (910.27) 1348.25

(1208.22) (1208.22) 64.00 29.44 348.21 589.98 807.37 217.39 130.82 (1167.89) 1334.69

BALANCE SHEET

PARTICULARS 2004-05 A Source of funds Equity capital Reserve and surplus Deferred revenue exp Debit bal. of P/L a/c a) Net worth (1+2+3+4) b) Deferred tax liability c) Total loans Prov.A.Gratuity& A. leave Prov. Retirement benefits d) Total Total(A+B+C+D) B Application of Funds Gross fixed assets 4130.40 907.27 (378.50) 0.00 4659.17 0.00 8688.76 2419.11 366.30 2785.41 16133.34 2005-06 4130.40 6176.25 (294.93) 0.00 10011.72 1844.31 5769.79 2864.56 479.93 3344.49 20970.31

SAIL2006-07 4130.40 8471.01 (215.82) 0.00 12385.59 1484.86 4297.62 3513.57 490.33 4003.90 2171.57 2004-05 378.66 5.70 (59.01) (954.57) (620.22) 0.00 268.01 243.95 24.62 268.57 (83.64)

IISCO Steel plant 2005-06 2006-07 378.66 6.59 (58.01) (910.27) (574.12) 0.00 205.61 349.52 36.70 386.22 17.71 849.37 0.00 1.70 (42.03) (1167.89) (1208.22) 0.00 64.00 434.05 41.50 475.55 (668.67) 890.64

27712.71 28043.48 29360.46 818.83

Less: Depreciation e) Net Fixed Assetss f) Net Capital WIP Others Investment Lonans& Advanced to sub.co IUCA Net g) Total others Curent ASSETS Inventories Sundry Debtors Cash& bank Bal Other current assets Loan & Adv. Toothers h) Total Current Assets

14558.86 15558.41 17198.32 525.52 13153.85 12485.07 12162.14 293.31 202.22 153.01 441.81 20.24 543.17 171.05 0.00 714.22 3081.44 1549.96 2017.16 86.18 1295.54 8030.28 606.71 146.20 0.00 752.91 4220.69 1908.45 6132.12 142.18 1783.99 14187.43 292.00 0.00 0.00 292.00 6210.06 1881.73 6172.64 85.48 3033.82 17383.73 0.07 0.00 0.00 0.07 147.12 57.61 99.74 0.18 2801.90 332.84

547.66 301.71 14.39 0.06 0.00 0.00 0.06 222.43 53.36 128.03 1.28 30.79 435.89

542.43 348.21 24.61 0.06 0.00 (824.16) (824.10) 368.12 64.39 126.68 1.35 29.44 589.98

LESS CURRENT LIBILITIESSundry Creditors Security deposits Other Liabilities Provisions Total current liabilities Working Capital (h-i) Total (e+f+g+j) 1600.83 191.83 2433.36 1741.21 5967.23 2063.05 1994.03 209.67 2361.75 2042.66 6608.11 7579.32 2111.23 232.30 2532.04 3232.54 8108.11 9275.62 22171.57 374.35 14.59 321.64 19.52 730.10 (397.26) (83.64) 211.07 17.49 167.06 338.72 734.