Murali krishna .

Y On the job training in Madras Cements Ltd Madras Cements Ltd, Corporate office: Finance - Commercial Department Auras corporate center 98-A, Dr. Radhakrishnan road Mylapore Chennai Internal Guide : Prof. S.Raghupathy, co-ordinater, PGDM External Guide: Mr. C.G. Sudharsan, GM -Materials

EXECUTIVE SUMMARY
The core area of this ON THE JOB TRAINING focuses on IMPORT PROCEDURE in Madras Cements Ltd, Chennai. The Intern has worked through the entire activities of the Commercial Department. The important learning at this department includes Import procedure, essential legal documents for a standard import file, letter of credit and advance license. In addition to this, the intern had hands on experience in Custom duty end to end process Service tax calculation Stock reconciliation Daily stock analysis and reporting ERP operations

HIGHLIGHTS OF THE COMPANY AS ON 31ST MARCH 2013

Cement capacity 12.49 MTPA Sales & other income Rs.3873crores Profit for the year Rs.403.65 crores Cement plants 5 Grinding unit 3 Packing plant 2 Ready mix concrete plant 1 Dry mortar plant 1 Wind farm capacity 159.19 MW No of employees 2787

 MAJOR LEARNING POINTS

1. Learned how the commercial department functions, able to answer the following questions. a) Import procedure in madras cements b) Where the availability of raw materials and packing materials? c) How custom duty has been paid? d) What are the pre, post and at the time documents which the department will receive during import? e) Inventory management techniques used? f) Learned about Government subsidy policies

2. Worked with two areas of the department a) strategic planning b) executive operator to understand how they operate. 3. Learned how the payment process functions, how to prepare purchase orders and other professional correspondence. 4. Met other professionals in company and identified career opportunities in the finance field. 5. Learned terms of import CADD Cash against document direct CADB cash against document through bank CIF cost insurance freight CANDF cost and freight FOB- free on board LETTER OF CREDIT

 DIFFICULTIES
1. Denial of information 2. Adjusting to different working style

BRIDGING INTERNSHIP LEARNING AND CLASS ROOM LEARNING 1. Hand on experience of opening an LC and its procedure 2. Able to know detailed workings of cost sheet 3. Understood how inventory management techniques work.