Himachal Pradesh General Industries Corporation Limited Project Report PDF

New Himrus Building, Cart Road Shimla-171001
DECLARATION
I Anamika Pal student of Himachal Pradesh University College of

Business Studies Shimla have completed the training at Himachal
Pradesh General Industries Corporation limited, Shimla from 1st
January to 19th February 2017.The information given in this project is
true to the best of my knowledge.
_______________ ________________
Anamika Pal Teacher’s sign.
Page | 2
ACKNOWLEDGEMENT
I am a management student with foundation of management principles

and theories, who is curious about various sectors and its latest
happenings.
I am highly indebted to Mr. S.P.Bhatia, (General Manager) who
allotted me a chance to learn and seek from all the conduct in the
company and complete this report.
I would like to express my gratitude to Mr. L.S.Banshtu and T.D.
Verma for their guidance and constant supervision as well as for
providing necessary information regarding the company and also for
their support in completing Training Report.
My thanks and appreciations also go to my colleague who helped me
in developing the report and people who have willingly helped me out
with their abilities.
A special thanks to Mr. Kamal Thakur and all the members and
employees of HPGICL for their kind cooperation and encouragement
and also for giving me such attention and time.
Lastly I would like to thank my Parents for their moral and financial
support that made this report a reality.
Page | 3
TABLE OF CONTENTS
Sr.No. Contents Page No.
1. Introduction
 Company background and history 5
 Objectives of the company 6
 Scope of work of the Company 7-8
 Products and Services 9
 Company Team 10-11
 Board of Directors 12
 Organisational Structure of the Company 13
 Different units of the Company 14-19
 Capital Structure of the Company 20
2. Weekly Training Schedule 21-26

3. Financial Statements of the company
 Balance Sheet 27-28
 Statement of Profit & (Loss) 28-29
 Notes to Accounts 30-34
 Cash Flow Statement 35
 Financial Data since Inception 36
4. Learning Experience 37-38
5. SWOT Analysis of Himachal Pradesh General 39-40
Industries Corporation Limited
6. Conclusion 41-42
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INTRODUCTION
COMPANY BACKGROUND AND HISTORY

In the duration of 01/01/2017 until 19/02/2017, I had done Training at
a company named Himachal Pradesh General Industries Corporation
limited (HPGIC), which is located at Himrus Building, Cart Road,
Shimla-1. It is functioning under the administrative control of the
Industries Department of Himachal Pradesh.
HP General Industries Corporation Limited is a Company registered

under the Companies Act, 1956. The Company was created in 1988
after the transfer of some manufacturing units of the HP State Industrial
Development Corporation Ltd. initially to M/s.Himalaya Fertilizers
Limited, a subsidiary Company of HPSIDC at that time. Subsequently,
in itself, Himalaya Fertilizers Ltd was renamed as HP General
Industries Corporation (HPGICL) and became an independent Public
Sector undertaking of the State. The registered office of the new
Company is at Shimla and the Company today managing following
factories/activities:
1. Country Liquor Bottling Plant, Mehatpur (Distt-Una) HP
2. Country Liquor Bottling Plant, Parwanoo (Distt-Solan) HP
3. Nurpur Silk Mills, Nurpur (Distt-Kangra) HP
4. Furniture Factory, Bilaspur (Distt-Bilaspur) HP
5. Furniture Sale Outlet, Shimla (Distt-Shimla) HP
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OBJECTIVES OF THE COMPANY
 To establish one or more factories and set up plant and

machinery to manufacture granulated balanced fertilizers and to
carry on incidental and ancillary activities in the state of
Himachal Pradesh and other places.
 To carry on the business as manufactures, processors producers
buyers sellers imports exporters and dealers in either whole sale
or retail.
 To manufacture, produce, refine, process, formulate buy, sell,
export import or otherwise deal in all classes and kinds of
chemicals including without limiting the generality of the
foregoing laboratory and scientific chemicals.
 To manufacture, sell or otherwise to deal in all kinds of
electronic goods and allied products.
 To carry on the business of the manufacture of and to sell
otherwise to deal in all kinds of hosiery goods, yarn, cotton and
silk products, cotton/woollen carpets and their allied products.
 To carry on business of manufacture, sell or otherwise to deal in
all kinds of detergents, salt and allied products.
 To carry on the business of purchase, manufacture and sell or
otherwise to deal in spirits, wines, liquors, industrial and
portable alcohol of all kinds and description as well as other
biochemical and formulations products and derivatives thereof.
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SCOPE OF WORK OF THE COMPANY
 Complete checking of sales, purchases and stock records

including production records, cash and Credit sales to the
customers shall be maintained and checked within the approved
system and purchases within the delegated financial powers or
sanction of the competent authorities obtained beyond powers
and fulfilling the requirement of deficiencies.
 Checking and recording of purchases and reconciliation with
stores and financial record along with meeting the requirement
of codal formalities by the concerned location of the
Corporation.
 Checking of the job summary in respect the furniture units with
stores/stocks and books of accounts.
 Wherever shortages are detected the same will be brought out in
the notice of head office/concerned unit.
 To provide assistance as and when required in connection with
the preparation of replies to Statutory Auditors and the Audit
observations of the AGHP on the Balance Sheet and Profit/Loss
Account of the Corporation for issue of the Comments of the
CAG of India.
 All other allied work connected with the writing, maintenance
and preparation of Accounts and Inventory record of the
Corporation including review of previous audit reports and
incorporation of its implications in the books as per requirement
of the Corporation. The assignment includes post finalization
Accounts made related to statutory filling with the concerned
authorities.
Page | 7
 Checking of the classification of sundry debtors/creditors and

relevant details of each location and making suitable necessary
suggestions/recommendation for the same for taking further
action by the units of the Corporation. The classification of
recoverable/payable dues may be made as given below:-
a. Less than six months
b. Six months to one year
c. One year to two years
d. Two years to three years
e. Three years and above
 Checking and reporting the deficiencies in all security

documents/agreements with the customers and against loans
and advances to meet the requirements of financial status.
 Checking of the cost analyses sheets of each item at the
units and making the suggestions for improvement, if any
 Checking and recording of TDS, TCS, Service Tax, Excise
duties, VAT and record of other levies
deducted/collected/deposited and non-compliance, if any, shall
have to be brought up to the notice of all concerned/Head Office.
 Checking of all type leave due and the leave encashment
amount due to the employees of the units and the Corporation
as a whole at the close of the year ended on 31' t March, every
year shall have to be evaluated and reported but not to be
charged to the expenses, as per the provision of the statutory
Act/State Govt. and Corporation instructions issued from time
to time.
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PRODUCTS
Country liquor Bottled / manufactured at Country Liquor Bottling

Plant at Mehatpur (Una Distt) and Parwanoo (Solan Distt).
Silk Fabric (Chiffon, Chinnon, Tabby, Plain Silk)/Dress material/Silk
Wool Shawls, Dress Material/ Silk Modal Dress Material & Sarees
manufactured at Nurpur Silk Mills, Nurpur
Domestic & Office furniture/furnishing material at Furniture Factory,
Bilaspur, Chamba Ghat Distt. Solan & SDA Complex Kasumpati
Shimla.
SERVICES
On site job work of paneling. ceiling. Partitioning and interior

decoration (wood work/carpeting/furnishing) etc.
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HP General Industries Corporation Ltd. TEAM
At helm of HPGIC is an experienced professional

team of senior managers who have an average of 30 years of experience
in their work.
This team of thorough professionals brings with them their combined
industry experience, knowledge of operations, management and
marketing, business development initiatives and implementation and
operation of new projects.
It is a firm belief at HPGIC Limited that the team of senior managers
with their skill and expertise always play a key role in the growth of the
business and development of consistent procedures and internal
controls. Behind them is the backing and support of a capable and
talented pool of employees, who will continue to be the force behind
the present and future growth and success of the organization.
SHRI. MUKESH AGNIHOTRI

Hon’ble Industries Minister,
HP and Chairman HPGIC.
THAKUR SURENDER PAUL

Vice-Chairman
SH. HIMANSHU SHEKHAR CHOUDHARY

Managing Director
Page | 10
SH. S.P. BHATIA

General Manager
SH. L.S.BANSHTU
Dy. Manager (F and A)
Ms. DEEPA SHARMA
Dy. Manager (Pers.)
AUDITORS
M/s. K. N. Chandla & Co.,
Chartered Accountant, Shimla.
BANKERS
1. State Bank of Patiala.
2. UCO Bank.
3. The H. P. State Co. op Bank Ltd.
Page | 11
BOARD OF DIRECTORS
Sh. Himanshu Sh. Rajesh Dr. Biru Ram Kishore,

Shekhar Sharma, H.A.S. Ex-MLA(Jhandutta),
Choudhary,I.A.S. Director(IF & VPO Jhandutta Distt.
Director of Expenditure) H.P. Bilaspur(H.P.)
Industries, Govt., Shimla-
Himachal Pradesh. 171002,(H.P.)
Sh. Pawan Thakur, Sh. Satyapal Sh. Ram Swaroop
B.B.T Industrial Thakur, Vill Sharma, 179, Dane
Area, Vill, & VPO Ropri(Anni) P.O. Road,Dharamshala176216
Roshan Nagar & Teh. Anni, Distt. Kangra(H.P.)
Bathu, Distt. Distt, Kullu-
Una174301(H.P.) 172025(H.P.)
Sh. Sanjiv Kumar Sh. Dev Dutt Sh. Ajay Kumar Verma,
Saini, Village Sharma, Village Village Doonga Bazar,
Kotla-Kalan, & P.O. Teh, & Distt. Kangra-
Distt.Una(H.P.) DRAMMAN, 176001(H.P.)
Tehsil Shahpur,
Distt.
Kangra(H.P.
Page | 12
ORGANISATIONAL STRUCTURE OF THE COMPANY
fig. 1
Page | 13
DIFFERENT UNITS OF THE COMPANY

1. COUNTRY LIQUOR BOTTLING PLANT MEHATPUR
fig. 2
2. COUNTRY LIQUOR BOTTLING PLANT PARWANOO
fig. 3
These units are engaged in manufacturing of country liquor are the

mainstay of the corporation. The production of liquor in these units in
the year 2015-2016 was 53.11 lac pls. against the combined target of
Page | 14
48.00 lac pls. for these two units. The sale price of this product is fixed
by the Excise Department. The quality of country liquor manufactured
by these units is superior and the brand “UNA NO. 1” enjoys a very
good reputation.
fig. 4
Despite all the constraints and intense competition in the market from
private manufacturers, these units have been able to sell more than the
budgeted target and have been able to earn a profit of Rs.412.62 lac
during the period under report.
fig. 5
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3. NURPUR SILK MILLS
fig. 6
The Silk Filature (renamed Nurpur Silk Mills) was

established in the year 1964 for the reeling of silk cocoon to give boost
to the sericulture activity under taken by poor farmers. It was
transferred to the Corporation in 1969 and has served its mandate. This
being the only unit of its kind in the State has helped greatly in
the development of Sericulture Industry as the entire crop was
purchased at remunerative prices fixed by the state Govt. As against
production of 210 qtls. of cocoon by 1200 families engaged in the
Page | 16
rearing of cocoon in 1969, the production increased to 1520 in qtls.and

over 7,000 families are now engaged in the rearing of silk cocoon.
This is a composite mill comprising of two sections viz reeling

of cocoon and weaving of fabric. The silk yarn reeling activity was
closed in March 2000 as the operations had become non-viable. As
regards the weaving of silk fabric, the unit has been producing chiffon
fabric. However in the last 3-4 years, the production of value added
fabric such as chiffon-zari, crepe-zari and soft silk has been introduced.
fig. 7
Silk unit offerings

a. Pure chiffon sarees, dress material, dupatta's, grey fabric
b. Pure chinnon sarees, dress material, dupatta's, grey fabric
c. Plain silk sarees, and grey fabric
d. Silk wool shawls, dress material, gents material
Page | 17
e. Silk modal sarees, dress material, gents material, kurti material,

shirting material
f. Scarfs-ladies/gents, mufflers, stoles, zari border sarees, dupatta's,

banarsi sarees, jackets-customise on order
g. Home textiles materials
h. Technology used-digital print, screen print, hand print, brush print,

spray print, tie and die, organic, block print, batik print, plain dyed,
value added orientation
4. FURNITURE FACTORY, BILASPUR/FURNITURE AND

FURNISHING DIVISION SHIMLA AND FURNITURE FACTORY,
CHAMBAGHAT, SOLAN.
fig. 8
These units mainly cater to the demand for furniture and furnishing
items from Govt. departments and Educational institutions and have
Page | 18
established a name by producing quality furniture. Service of onsite job

work of panelling, ceiling, partitioning and interior decoration (wood
work/ carpeting/ furnishing) etc. are also done. The actual sales of the
operation were quite high than the estimated sales for the period. These
units have earned a total profit of Rs.170.76 lacs during the period
under report.
Furniture and Furnishing Division Offering

a. Complete office solution-flooring, matting, furniture, panelling, etc.
b. Complete home solution-furnishing, interior decor, home textiles.
c. Classic furniture on-demand, modular's.
d. List of empanelled agencies.
Page | 19
CAPITAL STRUCTURE OF HPGIC

The Authorized share capital of the company is Rs.
9,00,00,000/- (Rupees Nine Crore only) divided into 90,00,000
(Ninety Lakh) equity shares of Rs. 10/- each.
Capital Structure of Himachal Pradesh General Industries Corporation
Ltd. Shimla.
Sr. Name of Shareholder/Firm No. of Value @ Rs.10/-

No. Shares
1. HP Govt. Shareholding 70,39,576 7,03,95,760
2. H.P. Financial Corporation, Shimla 29,522 2,95,220
3. Industrial Finance Corp. of India, 44,728 4,47,280
New Delhi
4. Private Shareholders 39,000 3,90,000
Total 71,52,826 7,15,28,260
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WEEKLY TRAINING SCHEDULE

Training schedule begins from 2nd of January 2017
(1st of January being a Sunday)
Training imparted by Mr. L.S.Banshtu (Dy. Manager
Finance and Accounts)
FIRST WEEK i.e. from 02/01/2017-07/01/2017

In the very first week and that too very first day I was acquainted with
the;
 Detailed information about the company,
 All the workings and activities of the company,
 Different units of the company,
 All the outlets of the company,
 Different departments of the company and their proceedings
 Institution Profile and History of company.
 Head department and its workings
 Made a formal and an informal relationship with all the
members and employees of the head department
 Knew about the organisational structure of the company
 A little glimpse about the working environment and culture in
the real world.
All the above mentioned points were learnt in the first week of the
training in HPGIC.
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SECOND WEEK i.e. from 09/01/2017- 13/01/2017

Training schedule begins in the field of
“Finance and Accounts” under Mr. L.S.Banshtu and Mr. Kamal
Thakur.
Beginning with an introduction with the company’s books of accounts
and the process of book keeping.
HPGICL follows accounting year from 1st April to 31st March.
Voucher Preparation and Transactions of the Company
Both cash and non-cash vouchers were dealt in by the organisation and
I saw a glimpses of the real vouchers and how journals are prepared
from them.
HPGIC follow Double Entry system of accounting. After vouchers I
learnt how to prepare the books of original entry – Journal.
Every month all the transactions in the vouchers are written in the
books of Journal entry.
And with this learnt task we came to the end of the second week of
training.
THIRD WEEK i.e. from 16/01/2017- 21/01/2017

In week third I continued with the books of accounting and learnt about
preparation of Ledgers.
In HPGICL everyday ledger posting is done from the books of original
entry and the books are kept up-to-date.
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Mr. Banshtu made me do the ledger posting for the last month that was
December and hence gave a real time experience about how company
works and how all the transactions are actually done in the businesses.
After ledger posting for the month of December Trial Balance for the
same was made and hence learnt how the Trial Balance is made and
matched the figures on both sides.
Specimen of Ledger
fig. 9
FOURTH WEEK i.e. from 23/01/2017 – 28/01/2017

In continuation with my training I came to learn about the books of all
books that is Cash Book.
HPGICL prepares the cash book with the bank column in it.
Cash Book is being prepared on monthly basis and all the cash and bank
receipts and payments are recorded.
Page | 23
Specimen of two column cash book
fig. 10
Other books or Special Purpose Subsidiary Books, nextly I learnt about

preparation of special purpose books or subsidiary books. They
included - Purchases Book, Sales Book etc.
FIFTH WEEK i.e. from 30/01/2017 – 04/02/2017

In the fifth week of the training, I learnt about preparation of the Bank
Reconciliation Statements of the company. The banking transactions of
the company are, rectified if there are any. The major bankers of the
company are:
1. State Bank of Patiala.
2. UCO Bank.
3. The H.P. State Co-operative Bank Limited.
All the errors are discovered and corrected, if any.
Page | 24
Specimen of Bank Reconciliation Statement
fig. 11
In the fifth week only, I learnt how to prepare the Cash Flow
Statement and also prepared the company’s cash flow statement for
the year 2015-2016.
SIXTH WEEK i.e. from 06/02/2017 – 10/02/2017

In the sixth week of the training, I learnt about the company’s rules
and regulations, its terms and conditions, laws etc. Also learnt about
the company’s Memorandum of association and Articles of
Page | 25
association .All the clauses that may be Name clause, registered office
clause, objects clause etc.
HPGICL is registered under the companies’ act 1956 and it is a
company limited by shares. All this information regarding the
company was given by Mr. T.D.Verma. He also taught us about the
Tenders of the company that how the company give advertising about
the tenders in the newspaper and the whole process for
selecting/accepting someone’s bid or putting order.
SEVENTH WEEK
In the last week of my training, I learnt about preparation of the
Balance Sheet and Income Statement /Profit and Loss Statement of
the company. How all the information and data is collected and then
consolidated to reach to the profit or loss figures of the company. The
Financial Statements of the company are given below:
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FINANCIAL STATEMENTS OF THE

COMPANY.
Himachal Pradesh General Industries Corporation Ltd., Shimla

Balance sheet as at 31st March, 2016
Particulars Note Figures as at Figures as at
No. the end of the end of
current period previous period
I EQUITY AND LIABILITIES
1 Shareholder’s Fund
a) Share Capital 1 71,627,135 71,627,135 71,627,135
b) Reserve & Surplus 2 142,453,284 87,776,156
2 Non-Current Liabilities
a) Long-term borrowings 3 48,337,111 46,254,899
b) Long-term provisions 48,337,111 46,254,899
3 Current Liabilities 4
a) Trade payables 35,688,378 37,068,625
b) Other current liabilities 96,255,140 79,258,420
c) Short-term provisions 29,600,650 161,544,168 28,420,258 144,747,303
Total 423,961,698 350,405,493
II ASSETS
1 Non-current assets
a) Fixed assets
i) Tangible assets 13,429,071 10,335,907
ii) Intangible assets
iii) Capital work-in-progress 2,000,000
b) Long term loans and 6 2,530,722 17,959,793 3,018,473 13,354,380
advances
2 Current assets
a) Inventories 69,060,190 44,084,277
b) Trade receivables 55,302,641 54.536,608
c) Cash and cash equivalents 232,947,658 189,994,724
Page | 27
d) Short-term loans and 48,691,416 48,435,504

advances
e) Other current assets - 406,001,905 - 337,051,113
Total 423,961,698 350,405,493

Statement of Profit & (Loss) Accounts for the year ended 31st March, 2016
Particulars Note Figures as at the Figures as at the

No. end of current end of previous
reporting period reporting period
INCOME
I Revenue from operations 8 567,487,328 516,105,010
II Other Income 9 22,819,004 17,502,394
Depreciation transferred from 8,975 14,501
Capital reserve on account of assets
Acquired out of grants.
III Total Revenue(I +II) 590,315,307 533,621,905
IV Expenses
Cost of materials consumed 10 273,069,212 256,214,747
Purchases of stock in trade 112,563,598 91,530,792
Changes in inventories of finished
Goods, work-in-progress and stock- -14,863,702 -7,792,026
In-trade
Employees benefit expenses 12 98,301,846 83,323,282
Finance costs 13 2,082,212 2,082,212
Depreciation and amortization 1,265,983 999,325
Expenses 35,003,427 34,118,925
Other expenses
Total Expenses 507,422,576 460,477,257
V Profit/(Loss) before exceptional and 82,892,731 73,144,648

Extraordinary item and taxes(III-IV)
VI Exceptional items 934,613 (232,454)
VII Profit/(Loss) before extraordinary 83,827,344 72,912,194
Items and tax(V-VI)
VIII Extraordinary items - -
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IX Profit/(Loss) before tax (VII-VIII) 83,827,344 72,912,194

X Tax Expense
1.Current tax 29,141,241 23,656,361
2.Deferred tax - -
XI Profit/(Loss) for the period from 54,686,103 49,255,833
Continuing operations(IX-X)
XII Profit/(Loss) from discontinuing - -
Operations.
XIII Tax expenses of discounting - -

Operations.
XIV Profit/(Loss) from discontinuing - -
Operations (XII-XIII)
XV Profit/(Loss) for the period 54,686,103 49,255,833
(XI + XIV)

Notes Forming Part of Accounts as at 31st March, 2016
Note- 1
Particulars Current Year (Rs.) Previous Year (Rs.)
Share Capital
Authorised:
9,000,000 Equity shares of Rs. 10/-each. 90,000,000 90,000,000
Issued :
7,186,576(7,186,576) Equity shares of
Rs. 10/-each, fully paid up 71,865,760 71,865,760
Subscribed:
7,186,576(7,186,576) Equity shares if 71,865,760 71,865,760
Rs. 10/-each, fully paid up
Paid Up:
7,152, 826(7,186,826) Equity shares of 71,528,260 71,528,260
Rs. 10/-each, out of the above:
Page | 29
1. 1,684,876 Equity shares of Rs

10/-each fully paid have been
allotted in H.P. Govt. in
consideration of Assets
transferred by HPSIDC
2. 3,516,700 equity shares of Rs.
10/-each fully paid have been
allotted to H.P. Govt. without
payment received in cash in
pursuance of conversion out of
panel interest on Unsecured
Loans.
98,875 98,875
Add: Forfeited share account
(Represents 33,750 partly paid up equity
share)
Total - 71,627,135 71,627,135
Note-2
Particulars Current Year Previous Year
(Rs.) (Rs.)
I Reserves and Surplus
1 Capital Reserves:
Central outright subsidy (Fertilizer plant) 607,750 607,750
2 Grant in aid received
i) From Central Silk Board 89,746 104,247
(Machinery of Silk Mills)
Less: Transferred to P&LA/c during the
year on a/c of depreciation 8,975 80,771 14,501 89,746
3 Unutilised Grant
i) Unutilised grant from the Govt. of H.P.
under voluntary retirement scheme Balance
as on 1.4.2014 0 0
Add: Received during the year - -
Less: Adjusted during the year 0 0 0 0
ii) Unutilised grant - -
Less: Transfer/Adj. during the year - - - -
Total 688,521 697,496
Page | 30
Surplus
Profit & Loss account
Profit as on 1.4.2015 87,078,660 42,127,315
Add: Profit/ (Loss) during the year as per 54,686,103 49,255,833
profit & loss statement
Less: Proposed Dividend 0 3,576,413
Tax on Proposed Dividend 0 141,764,763 728,075 87,078,660
142,453,284 87,776,156
Note-3
(Rs.) (Rs.)
Non-Current Liabilities
a Long-term borrowings
Term Loans (Unsecured) - -
(From other than banks)
From Director of Agriculture HP 29,745,889 29,745,889
Add: Interest accrued & due 18,591,222 48,337,111 16,509,010 46,254,899
Total 48,337,111 46,254,899
Note-4
(Rs.) (Rs.)
Current Liabilities
a) Trade payable 35,688,378 37,068,625
b) Other current liabilities
-Other Liabilities 51,008,606 32,790,493
-Advances from Customers 28,503,012 28,252,651
-Staff Security 26,254 24,271
-Earnest money form Customers 534,500 534,500
-Security from customers/suppliers 16,182,768 17,656,505
Total 96,255,140 79,258,420
Page | 31
c) Short term provisions

Others
-Bills pending for adjustment 459,409 459,409
-Income Tax 29,414,241 23,656,361
-Proposed Dividend - 3,576,413
-Corporate Dividend Tax - 728,075
Total 29,600,650 28,420,258
Note-6
(Rs.) (Rs.)
Long term loans and advances
a) Security Deposits
i)Considered Good 569,652 528,618
ii)Considered Doubtful 6,010 6,010
Less: Written off during the year 0 0
Less: Provisions 4500 1510 4500 1510
b) Other Loans & Advances
Loans
(Considered good in respect of which
the Corporation in fully secured)
i) To Staff 325,115 340,795
ii) Interest Accrued and due 1,087,696 1,507,804
iii) Interest Accrued but not die 530,624 1,943,435 636,371 2,484,970
(Considered good in respect of which
the Corp, hold no security other than
personal Security)
i) To Staff 16,125 3,375
ii) To others 0 16,125 0 3,375
Total 2,530,722 3,018,473
Page | 32
Note-8
(Rs.) (Rs.)
Revenue from Operations
a) Sale of Products 628,935,422 566,302,193
Less: Discount 455,849 628,479,573 423,174 565,879,019
c) Other Operation Revenues - 12,075
638,479,573 565,891,094
Less: Excise Duties 60,992,245 49,786,084
567,487,328 516,105,010
Note-9
(Rs.) (Rs.)
Freight Receipt - -
Less: Payment - - - -
Interest (Gross) 15,454,902 13,007,290
Other Income (Gross) 7,364,102 4,495,104
Total 22,819,004 17,502,394
Note-10
(Rs.) (Rs.)
Raw Material and packing material
consumed
Opening Stock 22,668,712 16,047,523
Add: Less closing stock taken in pr. Yr. 0 0
Add: Purchase 284,319,641 306,988,353 262,835,936 278,883,459
Less:
Self-consumption (Loss due to flood) 0 0
closing Stock 33,919,141 33,919,141 22,668,712 22,668,712
Total 273,069,212 256,214,747
Page | 33
Note-12
(Rs.) (Rs.)
Employee Benefit Expense
Salary, Wages and Bonus 49,176,740 51,685,652
Salary of Managing Director 74,683 792,914
Contribution to P.F. & other funds 5,081,133 5,248,350
Premium for Group Gratuity Scheme 22,500,000 18,000,000
Premium for leave Encashment 7,500,000 5,000,000
Staff Welfare and other amenities 2,172,613 1,859,234
{Including Rs. NIL for MD Previous year Rs, Nil)
Incentive & rewards 1,042,208 737,132
Pension to employees 10,754,469 -
Total 98,301,846 83,323,282
Note-13
(Rs.) (Rs.)
Finance Costs
Interest expenses 2,082,212 2,082,212
Other borrowing costs - -
Total 2,082,212 2,082,212
Page | 34

Cash Flow Statement for the year ended 31st March, 2016
Particulars 31.03.2016 31.03.2015
Cash Flow from Operating Activities
Net profit before Tax 83,827,344 72,912,194

Adjustment for:
Depreciation 1,265,983 999,325
Interest & Finance Charges 2,082,212
Dep. Capital Reserves -8,975 -14,501
Profit on sale of Fixed Assets -31,094 0
Loss on disposal/write off Fixed Assets 0 0
Interest on Term Deposits -14,532,386 -12,982,433
Operating Profit before working Capital Changes 72,603,084 62,996,797
Adjustment For:
Trade Receivables -766,033 -8,349,561
Inventories -24,975,913 -11,781,470
Trade Payables -1,380,247 10,338,896
Provisions & Other Liabilities 18,177,112 1,255,994
Loans & Advances 255,912 -7,353,788
Other Current Assets 0 0
Cash generated from Operations 63,402,091 47,106,868
Income Tax Paid -29,141,241 -16,347,806
Net Cash Flow from Operating Activities –A 34,260,850 30,759,062
Cash Flow from Investing Activities
Net Expenditure on fixed Assets & advances on capital 6,328,053 -37,827

account
Long Term Loans & Advances 487,751 574,948
Interest on Term deposits 14,532,386 12,982,433
Net Cash Flow from Investing Activities-B 8,692,084 13,519,554
Cash Flow from Financing Activities 0 0

Net Increase /Decrease in cash & cash equivalent 42,952,934 44,278,616
(A+B+C)
Cash & cash equivalent (opening balance) 189,994,724 145,716,108
Cash & cash equivalent (closing balance) 232,947,658 189,994,724
Page | 35

Regd. Office: New Himrus Building, Circular Road, Shimla-171001
Financial Data as on year ended 31st March, 2016
Financial Capital Net Accumulated Reserve Establishment Admin.
Year since Investment profit Profit/Loss & Cost Expenses
inception Surplus
1989-90 15.30 (+)23.39 (-)4.24 10.37 106.78 31.54
1990-91 187.25 (-)69.22 (-)73.46 9.90 113.10 32.42
1991-92 217.25 (-)42.36 (-)115.82 9.42 127.97 41.52
1992-93 237.25 (-)48.99 (-)164.81 9.04 143.49 48.46
1993-94 272.25 (-)70.77 (-)235.58 16,89 148.24 56.86
1994-95 282.25 (-)33.27 (-)268.85 8.36 146.69 48.49
1995-96 305.25 (+)23.53 (-)245.32 8.11 145.26 44.03
1996-97 324.79 (+)189.03 (-)56.29 7.88 167.30 47.70
1997-98 347.79 (+)60.46 (+)4.17 24.6 230.37 51.13
1998-99 347.79 (+) (+)24.59 51.47 257.31 55.85
1999-2000 497.79 (-)155.77 (-)131.18 24.04 293.30 51.01
2000-01 497.79 (+)3.41 (-)127.77 22.87 270.05 90.50
2001-02 497.79 (+)4.32 (-)123.45 21.86 264.10 65.47
2002-03 497.79 (-)69.79 (-)192.45 21.55 283.26 68.35
2003-04 497.79 (+)17.34 (-)107.2 20.79 285.23 57.86
2004-05 497.79 (+)116.39 (+)8.77 28.31 309.80 67.82
2005-06 703.96 (-)55.73 (-)46.96 18.70 337.99 51.10
2006-07 703.96 (-)85.24 (-)132.20 9.07 367.5 53.49
2007-08 703.96 (+)73.64 (-)58.56 8.67 401.92 56.65
2008-09 703.96 (-)115.06 (-)173.62 8.32 437.08 63.94
2009-10 703.96 (-)212.56 (-)386.19 8.02 587.63 65.03
2010-11 703.96 (-)4.66 (-)390.84 7.75 610.78 32.15
2011-12 703.96 (+)43.59 (-)347.26 7.48 574.16 34.39
2012-13 703.96 (+)366.17 (+)18.90 7.29 613.21 35.47
2013-14 703.96 (+)402.37 (+)421.27 7.12 905.99 41.14
2014-15 703.96 (+)449.52 (+)870.79 6.97 833.23 83.79
2015-16 703.96 (+)546.86 (+)1417.67 6.89 983.02 92.80
Page | 36
LEARNING EXPERIENCE
My personal experience at HPGIC was worth my while. The valuable
benefits I gained from training at HPGIC lets my overall evaluation of
training there be: very good. In fact, my training at HPGIC was very
useful to me in acquiring new management skills that I had not had
before. During my training, I actually appreciated and understood the
practical application of my academic programme. A lot of other things
that I learnt at HPGIC are:
 I gained insight into the actual work environment and the work
life scenario.
 My Training gave me a chance to work with professional mentors
and got a hint at how to build networks within profession.
 Gained insight into the working environment and understood the
working culture of the firms.
 Developed a unique skill set of gathering questions and asking
appropriate personal for assistance.
 Training gave me an insight on how business and all other
operations, that in have just learnt theoretically at classroom
level, practically works.
 The industry introduction increased my work life through added
eagerness and responsibility.
 It gave me a long lasting experience, it was an opportunity of life
time to engage with the profession to which I aspire in a realistic
work environment.
 Gained working knowledge about the companies’ way of
operations and administration policies.
 I developed discipline and time management skills.
Page | 37
 Developed skills required to interact with senior management and

staff (for example: Mangers, senior associates, staff and office
staff) in professional manner.
 Also learnt the ability to be multi-tasking and to be responsible
for more than one project at a time.
 Training help in developing in grooming my interpersonal skills.
 Developed organisations skills to complete the project in a timely
manner.
 Gained a good understanding about the financial management
policies of the company.
 Gained a working knowledge about companies interpretation of
profits/losses and measures to solve the adverse effects.
 Gained insight into accounting process use by the company.
 Companies operations, its shareholdings, profits and revenue for
the recent years.
 Learnt about internal and external financial reporting procedure
and auditors of the company.
 During the training period, I was submitted small tasks for
helping in projects or self-learning such as preparing journals,
ledgers and all other financial statements.
I think that my most important outcome form training in HPGIC is
acquiring many new useful skills of various types and developing some
of my existing skills. I think these skills are very valuable since they
can signify and impact in solving problems and are good as par with
my career goals.
Page | 38
SWOT ANALYSIS OF HPGIC
STRENGTHS
 A profit earning govt. undertaking.
 Wide variety of products as well as services.
 Silk mills- one of its kind in the whole state.
 Experienced and highly qualified personnel.
 Strong investor base.
 A reputed and trusted brand.
WEAKNESSES
 Operating only in the jurisdiction of Himachal Pradesh State.
 Not equipped with latest technology (for example-ERP
enterprise Resource Planning)
 Use manual accounting system.
 Less infrastructure.
 Limited funds.
Page | 39
OPPORTUNITIES
 Government initiatives special schemes and quotes.
 Wide market to be captured.
 Prospects for further growth into other states.
 Increasing interest and confidence or people in the organisation.
 Increased no of potential investors.
THREATS
 Growing competition from private section.
 No e-commerce existence.
 Almost no advertising.
 No customer care services.
 Conservative approach towards growth.
Page | 40
CONCLUSION
In conclusion, I am well satisfied with my training.
I have learned many new things, acquired working knowledge and
improved another group of existing skills, other than those gained at
college level. What I liked most about my training is that it is very
strongly related to academic materials I studied in college. This refutes
the common saying that very little of materials taught in university or
college courses are used in the practical work. This dependency is
clearest in accounting books and financial reporting process used in
HPGICL. However, this does not mean that I have learned little new
things in my training. I may count all the new skills that I learnt or
improved at the training, other than those gained at BBA course:
 Great improvement in the basic knowledge about accountancy.
 Refreshing the formats for preparation of different books.
 Increasing my ability to work as a member in a team. Actually
this had been a problem of mine; I did not believe much in
teamwork. Now, after the training, I can say that my belief in the
benefits of teamwork, when the team is concerted, has increased
a lot.
 Improved knowledge about preparing different books, of
accounts and financial statements.
 Learnt about how tenders are quoted and how tenders are
selected.
 Increased my understanding about quotation of tenders, tender
notices and how the process works.
 Learnt, how to collect information or gather data and then use it
fruitfully.
 Analysing and interpreting the financial results.
Page | 41
 Gained valuable insights into actual work culture.

 Developed and endured interpersonal skills.
This training give me a chance to gain practical exposure in my field of
study. I was kind of member of the organisation. But, being a finance
intern I was not treated as an employee, because my objective was to
learn. I was given tasks related to class room knowledge to be put to
theoretical concepts into practice. For instance:- as a finance student I
learnt about the preparation of financial statements and completed
some assignment using hypothetical situations. Oftenly, in the
beginning of the internship, I worked under the supervision of Incharge
of Finances and Accounts to prepare simple financial statements using
data from the organisation, so that I can learn how to do it in practice.
One of the main disadvantage of my training was lack of
a precise training programme. As a result of the nature of work in
finances department. The nature of work of the implies that the training
plan cannot be independent from what is being worked on or being
carried out by the organisation itself. So trainees are dependent on the
department work.
But just one disadvantage cannot change my valuable experience and
benefits from the training. All the knowledge I gained from training at
HPGIC, let’s my overall evaluations of training there be: Very good.
In addition to the above things there are hundreds of other things that I
learnt from my training. Right from the concepts of finance, there
applications to their implication, I became well versed with all those
things that I had earlier studied or read in my course
In nutshell, it was a great opportunity for me to have had my industrial
training at HPGIC. The invaluable experiences and knowledge that I
have gained from my training have left me a changed, knowledge and
experienced individual.
Page | 42

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New Himrus Building, Cart Road Shimla-171001

I Anamika Pal student of Himachal Pradesh University College of

I am a management student with foundation of management principles

Sr.No. Contents Page No.

2. Weekly Training Schedule 21-26

COMPANY BACKGROUND AND HISTORY

HP General Industries Corporation Limited is a Company registered

OBJECTIVES OF THE COMPANY

 To establish one or more factories and set up plant and

SCOPE OF WORK OF THE COMPANY

 Complete checking of sales, purchases and stock records

 Checking of the classification of sundry debtors/creditors and

 Checking and reporting the deficiencies in all security

Country liquor Bottled / manufactured at Country Liquor Bottling

On site job work of paneling. ceiling. Partitioning and interior

HP General Industries Corporation Ltd. TEAM

At helm of HPGIC is an experienced professional

SHRI. MUKESH AGNIHOTRI

THAKUR SURENDER PAUL

SH. HIMANSHU SHEKHAR CHOUDHARY

SH. S.P. BHATIA

Sh. Himanshu Sh. Rajesh Dr. Biru Ram Kishore,

ORGANISATIONAL STRUCTURE OF THE COMPANY

DIFFERENT UNITS OF THE COMPANY

2. COUNTRY LIQUOR BOTTLING PLANT PARWANOO

These units are engaged in manufacturing of country liquor are the

3. NURPUR SILK MILLS

The Silk Filature (renamed Nurpur Silk Mills) was

rearing of cocoon in 1969, the production increased to 1520 in qtls.and

This is a composite mill comprising of two sections viz reeling

Silk unit offerings

b. Pure chinnon sarees, dress material, dupatta's, grey fabric

c. Plain silk sarees, and grey fabric

d. Silk wool shawls, dress material, gents material

e. Silk modal sarees, dress material, gents material, kurti material,

f. Scarfs-ladies/gents, mufflers, stoles, zari border sarees, dupatta's,

g. Home textiles materials

h. Technology used-digital print, screen print, hand print, brush print,

4. FURNITURE FACTORY, BILASPUR/FURNITURE AND

established a name by producing quality furniture. Service of onsite job

Furniture and Furnishing Division Offering

CAPITAL STRUCTURE OF HPGIC

Sr. Name of Shareholder/Firm No. of Value @ Rs.10/-

WEEKLY TRAINING SCHEDULE

FIRST WEEK i.e. from 02/01/2017-07/01/2017

SECOND WEEK i.e. from 09/01/2017- 13/01/2017

THIRD WEEK i.e. from 16/01/2017- 21/01/2017

FOURTH WEEK i.e. from 23/01/2017 – 28/01/2017

Specimen of two column cash book

Other books or Special Purpose Subsidiary Books, nextly I learnt about

FIFTH WEEK i.e. from 30/01/2017 – 04/02/2017

Specimen of Bank Reconciliation Statement

SIXTH WEEK i.e. from 06/02/2017 – 10/02/2017

FINANCIAL STATEMENTS OF THE

Himachal Pradesh General Industries Corporation Ltd., Shimla

Total 423,961,698 350,405,493

d) Short-term loans and 48,691,416 48,435,504

Total 423,961,698 350,405,493

Himachal Pradesh General Industries Corporation Ltd., Shimla

Particulars Note Figures as at the Figures as at the

Total Expenses 507,422,576 460,477,257

V Profit/(Loss) before exceptional and 82,892,731 73,144,648

IX Profit/(Loss) before tax (VII-VIII) 83,827,344 72,912,194