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School of Management Studies

Punjabi University, Patiala.

Seminar Report
On
COMPARATIVE BALANCE SHEET OF VERKA MILK PLANT

Submitted to:

Submitted by:

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PREFACE
Education is not filling of pail, but the lighting of a fire.
Training is the ability to listen to almost anything without losing your
temper or your self confidence.
Practical training imbibes an integral part of management studies. One
cannot merely upon the theoretical knowledge. It is to be coupled with
practical for it to be a fruitful classroom lectures make the fundamental
concept of management clear. They also facilitate the learning of
practical things. However class lectures must be correlated with
practical in the company has a significant role to play in the subject in
business management. To develop management and administrative
skill in future managers have to enhance their analytical skills, it is
necessary that they combine their classroom learning with the
knowledge of real business environment.
After liberalization myself Indian economy scene I really a buzz with
activity. Lots and lots of multinational companies are coming in with
their technical expertise and proven management concepts. Industrial
activity in Indian has become a thing to watch and I really wanted to
be of it and it was essential for me being a management student.
During this period, I have written a report about knowledge,
experienced I gained, and findings I made in course of the training.
This report has been written in simple language specifying the
organizational set up and management procedure of Verka Milk Plant,
hoshiarpur and along the comparative balance sheet of the Milk Plant.
It is difficult to elaborate everything which learned during the training
however, I have endeavored too many, comprehensive picture of
details about working in the following pages. I have accumulated the

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desired information through personal observation, study of documents
and discussions.

INDEX:-

1.
2.

TOPICS
EXECUTIVE SUMMARY
PROBLEM IDENTIFICATION

PAGES
4-17

3.
4.

Objectives
THEORETICAL FRAMEWORK
RESEARCH METHODOLOGY

19
20-24
25-26

5.
6.

Data analysis & interpretation

LIMITATIONS
CONCLUSION

27-39
41
42

7.

RECOMMENDATION
APNEXURE

43
45-48

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EXECUTIVE SUMMARY

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COMPANY PROFILE
The Punjab state co-operation Milk Producers Federation Ltd. popularly
known as MILK FED PUNJAB came into existence in 1973. It was
backed by twin objective of providing remuneration milk to the market.
Although the federation was registered a lot earlier, it took the centre
stage of Punjab Diary Scenario in 1983 when all the Milk Plants of
Punjab Dairy Development Corporation Ltd. were handed over to cooperative sector and the entire state was covered under operation
flood to give the formers better value and customers better products.
The organizational set up of MILK FED is based on three tire systems
1. Milk producer co-operative societies at Village Level (Primary Cooperative Societies).
2. Milk Co-operative union of Districts levels (Unions).
3. Co-operative milk marketing federation as an apex body at State
Level (MILK FED).
MILK FED with its network of over 5000 village milk producers cooperative societies and three lacs milk producers from a strong
network providing assured market to milk producers. MILK FED and its
units have a workforce of about 5000 employees and also provide
regular employment to as out 600 transporters..
CAPACITY OF PLANT: The plant was designed to handle 60.000 liters per day of milk drying
and 10.000 liters per day as liquid supply. Since inception of the Plant
there was no change in the handling capacity until April 1997. Due to

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good potentiality of milk in areas, efforts were always made to
enhance its handling capacity to 100.000 liters milk per day. Under the
guidance of Milk Federation Punjab, the Registrar, Cooperative
Societies Punjab, has sanctioned as sum of
Rs 140 crore from the co-operative Development Fund. These funds
are being utilized at the earliest. The loan amount should be
refundable in 5 years after moratorium period of 3 years. On expansion
the plant will handle 100,000 liters of milk per day. The registration
capacity will also increase to 1.5 lacs liters of milk per day.

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MILK FEDS NETWORK

Milk fed has its milk union in many districts of Punjab. Their district
unions are: -

Bathinda

Chandigarh

Bassi
Pathana

Ferozepur

Faridkot
Amritsar

MILK PLANT NETWORK

Hoshiarpur
Sangrur
Ropar

Hushiarpur
Patiala
Ludhiana

Jalandhar

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GOVERNMENT SUPPORT: Union finally functioned with share capital of Rs 10 lacs received from
government which was later on enhanced to Rs 103 lacs. Under the
operation flood, Milk Union, Hoshiarpur has received
Plant and machinery, tanker and other assets on loan cum grant basis.
A loan was given by National Dairy Development Board amounting to
Rs 109.49 lacs (70% loan and 39% grant). In the year 1990 -91 unions
has taken Rs 53 lacs from Milk Fed as short term loan to meet its
current obligation. This year N.D.D.B. has given a loan of Rs 2.5 crore
to the Union. The union gets timely fund availability of working capital
loan.

MILK PROCUREMENT AT MILK PLANT: The procurement system of this Milk Plant is well organized. Milk
procurement is made through Milk Producers Co-operative Societies
which are spread over whole of the hoshiarpur . Under these societies,
there are milk producer members. These members are chosen by
village level societies from each village. These members choose a
secretary who collect milk from milk producers and sell to the plant
and earn some percentage of commission. In November, 1998, there
were 603 functioned societies having 32967 milk producer members.
In November, 1999, there were 623 functional societies having 41967
milk producers members holding membership of Milk Plant, and
poured 1787634 kgs of milk.
In June 30, 2002 Milk Plant Hoshiarpur has 738 functional societies out
of which 493 are working. While collection of milk, the fat contents of

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milk are properly tested on order to check the quality of milk because
the price is paid according to fat contents. GERBER and MILKO Tests
are the tests applied to test protein and fat contents in milk.

CHILLING STATIONS: There are three chilling stations working under this plant. These are
Batala, Kahnuwan and Tugalwada.
The motive for opening these stations is to save the milk. The life of
the milk is only Five hours after it is collected. Some villages are more
away from Hoshiarpur Plant and transportation times much higher than
this time. So these stations are opened to chill the collected milk so
that the life of milk be increased against five hours.

AIR / WATER POLLUTION CONTROL: The pollution created by boilers smoke and affluent discharge is
checked as per the norms of the Punjab Pollution Control Board,
necessary devices have been installed. With the start of these
equipments, the BOD of treated water (of treatment of water) being
discharged into Municipal Sewer is less than 30 i.e. well within norms.
The treated water is used for irrigation purpose on the land of Milk
Plant. Thus there is reduction of pumping of water from Earth Strata.
The result of this is 17, 00,00
Punjabs pride: - Ghee, lassi, panjiri, kheer

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Punjab may be flopping on fronts like health, information technology

but its flavored Verka lassi, desi ghee; ice-cream, sweetened milk,
panjiri, paneer, curd, and kheer are doing very well in the national and
international market. Milk fed, states leading cooperative, known for
Verka brand in and outside the country has achieved 64 per cent
growth in the sale of lassi, 37 per cent in sweetened flavored milk, 31
per cent in ghee, 21 per cent in ice cream, 70 per cent in kheer and 39
per cent in paneer last year. Desi ghee and lassi have been
traditionally strong area of Punjab.
Milk fed, that has achieved overall growth of 21 per cent last year, is in
fact expecting big increase in the milk collection in winter this year.
Owing to this reason, it has already started looking for new markets in
Delhi and elsewhere to sell milk and its products.
Impressed by the performance of Milk fed, some of the leading
companies in milk business Yoplait group, second biggest fresh dairy
product company in the world, has approached it for long -term
partnership.

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There has been 31.08 per cent growth in milk procurement in the first
fortnight of the May known as a lean period as far as procurement of
milk is concerned. During first 12 days of May, the average
procurement of milk was 8.83 lakh kg compared to 7.01 lakh kg of
corresponding period in the last year.
Amritsar, Hoshiarpur, Patiala, Ludhiana, Ferozepur and Jalandhar
districts are doing very well with regard to the milk procurement.
Overall turnover of the Milk fed had gone up to Rs 918 crore by the end
of last financial year and it would cross Rs 1,000 crore at the end of
current year. Increase in the turnover has been to the extent of 20.9
per cent in 2009-10 compared to the previous fiscal year.
V.K. Singh, managing director, Milk fed, said the biggest challenge
before his organization was to find new markets to sell milk products.
Our plants can process milk up to 14 lakh kg per day but we are
expecting milk procurement touching figure of 17 lakh kg during the
winter this year. Hence, we need new markets to sell milk and its
products, he said.
Milk fed had given best price Rs 14.50 per kg cow milk and Rs 17.50
per kg for buffalo milk. To keep dairy farmers and other milk producers
in the state motivated, we will not slash its price during the flush
season, he said. Except Amritsar and Sangrur, all other milk plants in
cooperative sector were doing very well, he added. He said Milk fed
was in profit and would become a blue-chip organization in a year or
two.

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Efforts made by us in enhance milk production by supporting the
setting up new dairy farms has started giving dividends, he said.
We are supplying milk even in Srinagar local market and also looking
to develop market in north-east such as Assam to sell milk products
especially value added ones. There was a plan to set up a plant near
Delhi because that was a biggest consumer market. Areas in which
Milk fed is not showing promise is table butter that has registered a
negative growth of 11 per cent and internal and external sale of
skimmed milk that has registered a negative growth of 24 per cent.
There are also problems on human resources front because private
sector has been keeping eye on its professionals and luring them away
by offering higher pay packets. V.K. Singh said, We would have to
adopt the corporate pattern to higher and retain best talented persons
in milk sector to compete with private sector.

PRODUCTS
The Verka range:
Fresh Milk

Long shelf life milk

(UHT)
DTM

Skimmed Milk
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Toned

Double Toned Milk

Standard

Toned Milk (Taaza)

Full Cream

Cow Milk

Skimmed
Camel Milk
Fresh Milk Products

Long Shelf Life Milk Products

Chaach

Ghee

Lassi

Cow Ghee

Dahi

Table Butter

Paneer

SMP

Shrikhand

WMP

Icecream

Cheese

Rasgulla

Dairy Whitener

Flavored Milk

White Butter

Mawa
Today Verka Milk Plant Hoshiarpur provides liquid milk of four types
name

Toned

Double toned

Standard and Gold (Full cream) and

Various products like Ghee, Paneer table butter, chach, lassi,

shrikhand in the district of Hoshiarpur and also other grid. Its sale
tetra packs milk throughout the Punjab.

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The plant is managed and operated by will-qualified, competent and
experienced, managerial cadre and highly motivated work force to
provide highest quality of product and best of services to its esteemed
customers.
To further improve the efficiency and efficiency and effectiveness of
the plant performance, of Verka Milk Plant Hoshiarpur.

QUALITY POLICY
The Verka Milk Plant believes that the delighted customer is the only
key for overall development of the organization
This is achieved by: Educating milk products for clean milk production.
Manufacturing and supplying milk and milk products and services
of consistent quality at comparative price.
Adoptive innovate and modern technologies and system.
Developing committed workforce.
Adoption of safety and environment friendly standards with help
of application of HACCP principals.

Quality

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Verka Milk Plant Hoshiarpur has got a sophisticated quality Control
Laboratory, which is equipped to carry out almost all the chemical and
bacteriological tests related with milk and milk products. The QC Lab
also carries quality tests for various packaging material, ingredients,
and chemicals used . The service of the quality control lab is also used
for carrying our consumer awareness programs like Dudh ka Pani Ka
Pani. We also have facility for general public for getting their milk or
Ghee samples tested in our quality control lab free of cost.

Engineering
The lifeline of Verka Milk Plant i.e. steam, water and refrigeration is
provided and maintained by the Engineering section. Apart from this
section does regular maintenance both preventive and corrective only.
Considering the perishable nature of milk, the engineering section has
to be on its toes always.
The section is managed by will qualified and experienced manpower,
which are at par with any professional organization

15

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16

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ORGANIZATIONAL CHART

General
Manager

Manager
Quality
Assurance

Manager
Engineering

Incharge
Purchase

Incharge
Marketing

Deputy
Manager
P.A.

Manager
Milk
Procurement

M.R.

Incharge
Store

Local
Routes

Boiler

Chilling
Centers

Electrical
Chemical Testing &
Packing Material

Liquid Milk
Testing
Mechanical

Refrigeration
Microbiological
Testing

Dy. Manager
Reception &
Processing

Dy. Manager
Liquid & Milk

17

Dy.Manager
Ghee & Powder
Dy. Manager
Paneer & Dahi

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Human Resource Development

Verka Milk Plant Hoshiarpur has always considered its staff member as
an asset. Various programs are run on continuous basis for keeping the
morale of employees high. Without the positive support of the
employees, the success story of Verka Milk Plant Hoshiarpur would not
have been possible. Yearly Get-together of all officers and employees is
one of the most important events of Verka Milk Plant Hoshiarpur.

For the last few years, more emphasis is being given on employees
training in the field of Attitude, Customer Relations, Positive Thinking,
Time Management, Stress Management and Team Building etc; apart
from technical subjects. Employees are being made aware of such
subjects either by nominating them to various training organizations
and workshops and seminars. Also experts are being invited to conduct
in house workshops and seminars. Verka Milk Plant Hoshiarpur has h
HRD cell also, which circulate good and readable articles to employees
for self-development.

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PROBLEM IDENTIFICATION

19

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OBJECTIVES
The primary concern of Verka Milk Plant Hoshiarpur is to provide best
quality and safe products and services, achieved this quality objectives
of Verka Milk Plant Hoshiarpur dairy are designed to
Meet a well defined needs use and purpose of costumer.
Satisfy customers expectation for good and safe milk and milk
products.
Comply with applicable national and international standard.
Make available milk and milk products at comparative price.
Ensuring implementation of quality management system.
Application ad adherence of HACCP principal for food safety.
Motivates

employees

for

participation.

20

professional

excellence

and

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THEORETICAL FRAMEWORK

21

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COMPARATIVE BALANCE SHEET

A comparative balance sheet is designed to show financial differences

between several accounting periods. A balance sheet is a detailed
account of everything lost and gained financially during a certain time,
containing both physical and abstract data. A comparative balance
sheet is useful because a business can instantly compare profits and
losses

between

different

time

periods.

Most

businesses

use

comparative balance sheets to help increase profits and functionality

of a company.
Features
A comparative balance sheet will include several different types of
accounting data. First there will be the income received and money
spent. There will also be a list of credits and debits to the company. A
list of assets and liabilities is also included. All of these factors are
necessary to see what the total worth of the company is through the
balance sheet. The comparative balance sheet allows the company or
business to see at a glance how its profits differ from one year to
another. These comparative balance sheets are aligned so that
business people can see at a glance the financial differences from year
to year.
Function
A balance sheet is designed to help keep a business or company aware
of every expense and profit that it is receiving. It also allows the
company to see which times of the year are most profitable, and which
years they did the best. This knowledge is important so that the
company can adapt to the information to build the best business
possible. If the business did better three years ago, they can look at
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that data and try to decide what it was that made them do so well that
year. Then they can change what they are doing in the present to help
boost current profits.
Benefits
The main benefit of a comparative balance sheet is that profits and
losses can be seen at a glance. It is also possible to see the increase or
decrease of assets that the business has. The company will be able to
tell what the biggest money suckers in the business are, and try to
think of ways to cut down losses in that area.
Significance
Without a comparative balance sheet, businesses would not know how
to change their strategy from year to year. All they would have to go
on would their current balance statements. This would be detrimental
to most businesses. It is very important to be able to look at past profit
information to judge how to act for the future.
Expert Insight
Most businesses and companies use comparative balance sheets. It
would be a very poor business decision not to use them. A lot of times
these comparative balance sheets are used when proposing new
additions or changes to a business. The company can go back as many
as 10 or 20 years to identify trends, and to judge if a new project is
right for the company. Comparative balance sheets are a necessity in
the business world.

SWOT ANALYSIS

STRENGTH: -

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1. Minimum interference from top management in day to day
working.
2. Qualified, experienced and devoted workforce.
3. Brand name VERKA.
4. Direct contacts with milk producers.
5. Own cattle feed plant and fodder seed grading station for
supplying certified fodder seeds.
6. Technical and financial guidance and support from Milk Fed Head
Office Chandigarh as well as National Dairy Development Dairy
Board.
7. ISO and HACCP certification.
8. Surplus created capacities.
9. Good

corporate

governance

and

socially

responsible

organization.
10. Quality of available milk is very good

WEAKNESS: -

1. Highly completive markets.

2. Financial position of plant is very weak from many years.
3. Sufficient working capital is not available.
4. Stagnation in milk procurement.

OPPORTUNITIES: -

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1. Veterinary

health care and breeding facilities is to be increased

for improving genetic milk yielding characters of animals.

2. Feasibility

of home delivery system for city supply milk to be

exposed.

3. Diversification of land use for improving profits.

4. Innovative energy saving measures is required to bring down the
cost of production and improve profitability.

THREATS: -

1. river floods.
2. Increasing salary bills as compared to turnover.
3. WTO agreements.
4. Non adoption of dairy farming as a side business by formers.
5. Higher cost of raw materials as compared to realization.

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6. Continuous

increase in higher rates of raw materials as

compared to comparative increase in the price realization of milk

products.

7. Lack of autonomy in functioning.

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RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY
Research refers to a search for knowledge. This research defines the
problems of retailers and perception of citizens. Research comprises
defining and redefining problems, formulating hypothesis or suggested
solutions;

collecting,

organizing

and

evaluating

data;

making

deductions and reaching conclusions; and at last carefully testing the

conclusions to determine weather they fit the formulating hypothesis.
It

presents

the research

design,

sampling

procedure,

tools

of

investigation, collection of data and the limitations of the study.

4.1 RESEARCH DESIGN
This research was descriptive and conclusion oriented research.
a) Descriptive Research:
The research was a descriptive research as it was concerned with
specific

predictions,

with

narration

of

facts

and

characteristics

concerning individuals, groups or situations.

Sampling Techniques: The sampling techniques used are convenient
technique and simple random sampling technique.

Convenient Technique: A non-probability sampling technique that

attempts to obtain a sample of convenient elements. The selection
of sampling units is left primarily to the interviewer.

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COLLECTION OF DATA
Data is obtained from important source:

Secondary data
Secondary Data
The sources of secondary data are:1. Corporative magazines
2. Manuals of various companies
3. Various publications
Books, magazines of particular clubs and newspapers

DATA ANALYSIS AND INTERPRETATION

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PROFIT AND LOSS ACCOUNT

Profit and loss account is depicted from the Balance Sheet. According
to this account, the company comes to know about the real position of
the company by knowing that whether the company has gained or
loss. As the checking of this account reveals that profit and loss
account for the year 31.03.2013, 31.03.2014 was misrepresentation of
accounts and depicts the position which is not correct because the
plant

authorities

had

shown

appropriation

loss

account

of

Rs

49,69,96,162.62/- on 31.03.2013, Rs 53,41,04,641.63/- on 31.03.2014

in Balance Sheet by preparing separate P & L appropriation account by
the union when provision of this expenses which were increased from
2013-2014 was not made. Plant concealed net loss for the concerned
years to the tune of Rs 1, 79,01,905.58/- and Rs 1,45,36,884.77/- for
31.03.2013 and 31.03.2014 respectively by not showing as net loss for
that year.

Besides many reasons the main reason for loss as explained by the
plant authorities is running the plant in under capacity resulting high
production

cost

and

fixed

cost,

low

margin

between

purchase/production price and sale price does not cover the various
expenditures which are incurred in procurement.

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MANUFACTURING,

TRADING

&PROFIT

&

LOSS

ACCOUNT

OF2013 - 2014
Previous year

Particulars

Current year

Previous year

(amount)

(amount)

Opening

8,12,58,066.0

36,81,24,938. Sale of milk& 37,55,13,351

stock

64

milk

.17

32,64,995.00

products
Misc. income

10332870.49

(amount)
7,13,42,395.80

Current year
(amount)

28,66,99,619.4

Purchase

milk&

2,36,48,275.32

products
Procurement

2,72,95,223.1

8,12,58,066.0 Closing stock 10,35,47,007

8
71,01,192.68

.00

57,90,158.68

Expenses
Processing

2,28,33,697.78

expenses
Production

2,44,74,667.0

2,28,33,697.78

expenses
Packing

1
1,79,69,644.7

1,18,69,119.60

expenses
0
Store/Purcha- 1,37,25,203.3

3,01,74,528.

-se/
4,14,73,523.80

of 31,64,46,682.

Particulars

milk 57

Engg 4

expenses
Admn/accou

2,59,04,726.7

2,64,46,257.4 Sale on

nts expenses

Consignment 20
Basis

2,557.00

Service Tax

4,202.00

97,77,021.75

Distribution

99,37,265.84

27,33,803.65

expenses
Depreciation

1,79,01,905.5 Loss for the

1,45,36,884.

77

Year

27,11,437.89

49,69,96,162.6

53,41,04,641.

49,69,96,162.

53,41,04,641

63

62

.63

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THE BALANCE SHEET OF

2012-13 AND 2013-14
THE BALANCE SHEET OF 2012-13
Liabilities

Year 2012-13

Assets

Year 2012-13

(amount)
Share capital

(amount)

1,32,76,100.00

Fixed assets

9,93,20,509.3
4

Reserves

and 8,04,28,468.37

Investments

surplus
Secured loans

1,55,00,100.0
0

3,07,84,483.00

Current assets

11,04,14,541.
25

Current liabilities 31,59,48,287.93 Stock in transit

and provision
Hare stabilization

1,54,775.00

fund

Accumulated

19,37,34,246.

losses

13

Appropriate

37,20,812.00

losses
Loss of the year

1,79,01,905.5
8

Total

44,05,92,114.30

44,05,92,114.
30

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THE BALANCE SHEET OF 2013-14
Liabilities

Year 2013-14

Assets

Year 2013-14

(amount)
Share capital

(amount)

1,37,67,100.00

Fixed assets

10,225,97,23.
94

Reserves

and 9,80,11,843.34

Investments

surplus
Secured loans

1,55,00,100.0
0

3,33,31,243.00

Current assets

12,38,81,995.
71

Current liabilities 32,63,82,079.85 Stock in transit

and provision
Hare stabilization

43,402.00

fund

Accumulated

21,53,56,963.

losses

71

Appropriate
losses
Loss of the year
Total

47,15,35,668.19

47,15,35,668.
19

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Comparative Balance Sheet of

2012-13 & 2013-14
COMPARATIVE BALANCE SHEET
2013

2014

Assets

Increase/decreas

Percentag

e amount

Fixed assets

9,93,20,509.3

10,22,59,723.

(+)29,39,214.6

2.9 %

Current assets

4
11,04,14,541.

94
12,38,81,995.

(+)1,34,67,454.5

12.1 %

Investments

25
1,55,00,100.0

77
1,55,00,100.0

2
Nil

0%

Accumulated

0
19,37,34,246.

0
21,53,56,963.

(+)2,16,22,717.5

11.1 %

13
the 1,79,01,905.5

71
1,45,36,884.7

8
(-)33,65,020.81

(-)18.7%

losses
Loss
of

year
Appropriation

8
37, 20,812.00

7
Nil

Nil

Loss
Total assets

44,05,92,114.

47,15,35,668.

(+)30943553.89

30

19

34

Nil
7.0 %

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Liabilities

& 2013

2014

Capital
Share capital
Reserves

Increase/decreas

Percentag

e amount

1,32,76,100.0

1,37,67,100.0

(+)4,91,000.00

3.6 %

0
and 8,04,28,468.3

0
9,80,11,843.3

(+)1,75,83,374.9

21.8 %

surplus
Secured loans

7
3,07,84,483.0

4
3,33,31,243.0

7
(+)25,46,760.00

8.2 %

Current

0
31,59,48,287.

0
32,63,82,079.

(+)1,04,33,791.9

3.3 %

85

1,54,775.00

43,402.00

(-)1,11,373.00

71.9 %

44,05,92,114.

471535668.19

(+)30943553.89

7.0 %

liabilities
provisions
Share

& 93

stabilization
Fund
Total

RESULTS
The comparative balance sheet of the company reveals that
during 2013, there is an increase in fixed assets of Rs
9,93,20,509.34 and there is an increase in current assets of Rs
11,04,14,541.25 and there is an increase in total assets by 7.9
%. Reserve and surplus increased from Rs 8,04,28,468.37 to Rs
9,80,11,843.34 i.e. 21.8 % .

35

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Current liabilities and provision are decreased from 44, 05,
92,114.3 to 37, 35, 23, 824.85. Overall position of the company
is satisfactory.

Comparative Analysis of Assets in

Data Interpretation 2012-13 to
2013-14

Q 1 Change in Fixed Assets in 2012-13 to 2013-14

36

[Type text]

Q 2 Change in Current Assets in 2012-13 to 2013-14

37

[Type text]

Q 3 Change in Investments

38

[Type text]

Q 4 Change in Accumulated losses

39

[Type text]

40

[Type text]

Q 5 Change in Appropriate loss of the year in 2012-13 to 2013-14

41

[Type text]

Q 6 Total change in Total Assets

42

[Type text]

LIMITATIONS

43

[Type text]

LIMITATIONS

1. Interaction with employees was difficulty as they were busy with their
work most of the time.
2. There is no measure to check out whether the information provided by
the consumers is correct or not.
3. Employees were showing least interest in giving imformation.

44

[Type text]

CONCLUSION AND
RECOMENDATIONS

45

[Type text]

Conclusion
In a dynamic and complex industrial and marketing environment,
theoretical concepts and classroom, teaching is not enough to impart
professional knowledge and skills to the future managers. In this
regard, I feel quite indebted to Management Department for providing
me with a tremendous skills and getting me exposed to the
philosophies and psychologies behind the complex corporate world and
marketing environment.
It is quite heartening to note about the successful completion of my
training and project report. But without the effort - support and cooperation of various persons, this result may not have been possible. I
am heartily thankful to S.M SOOD manager of Accounts for their
sincere and devoted guidance during the training. I would also like to
thank all the employees of Accounts Department and all other
Departments to complete this report.

46

[Type text]

RECOMENDATION

Pandey

I.M.,

financial

management,

Ninth

addition,

UBS

Publication New Delhi.

Mahant

R.N.,

Management

Accounting,

Sahitya

Bhawan

Publications, Agra

Van

Horn, (2009), Financial Management and Policy,12 th edition,

Publisher Dorling Kindersley India ltd.

Horne Wwachonicz, J.R.Bhaduri (2009), Fundamentals and

Financial management, 12th edition, Pearson publisher.

Jain. P.K. Financial Management,5th edition, Publisher Mc grew hill

companies.

Income

statement and financial statement of 2009-10 as

obtained from Hoshiarpur Dairy.

Financial dailies.
Economic Times
Business Standard

Business Magazines
Business India

47

[Type text]
Business World

Internet Portals:

www.verkadairy.com

www.dairyindia.com

www.milkfeed.com

48

[Type text]

Appendix

49

[Type text]

Appendix

THE BALANCE SHEET OF2013-14

Previous

Liabilities

Current year

Previous

year

(amount)

year

(amount)

5,00,00,000.

(amount)

5,00,00,000.

00

Assets

Current year
(amount)

00
1,32,76,100.

Share

1,37,67,100.

9,93,20,509.

00

capital

00

34

8,04,28,468.

Reserves

9,80,11,843.

1,55,00,100.

37

and surplus

34

00

3,07,84,483.

Secured

3,33,31,243.

11,04,14,541 Current

12,38,81,995.

00

loans

00

.25

71

Fixed assets

94
Investments

assets

31,59,48,287 Current

32,63,82,079

Stock

.93

.85

transit

liabilities

10,225,97,23.

1,55,00,100.0

in -

and
1,54,775.00

provision
Share

43,402.00

stabilization

19,37,34,246 Accumulate

21,53,56,963.

.13

71

d losses

fund
37,20,812.00 Appropriate

50

1,79,01,905.

losses
Loss of the 1,45,36,884.7

58

year

[Type text]
44,05,92,114

47,15,35,668 44,05,92,114

47,15,35,668.

.30

.19

19

.30

51

[Type text]
COMPARATIVE BALANCE SHEET
2013

2014

Assets

Increase/decreas

Percentag

e amount

Fixed assets

9,93,20,509.3

10,22,59,723.

(+)29,39,214.6

2.9 %

Current assets

4
11,04,14,541.

94
12,38,81,995.

(+)1,34,67,454.5

12.1 %

Investments

25
1,55,00,100.0

77
1,55,00,100.0

2
Nil

0%

Accumulated

0
19,37,34,246.

0
21,53,56,963.

(+)2,16,22,717.5

11.1 %

losses
Appropriate

13
1,79,01,905.5

71
1,45,36,884.7

8
(-)33,65,020.81

(-)18.7%

loss of the year 8

Total assets
43,68,71,302.

7
47,15,35,668.

(+)3,46,64,365.8

7.9 %

19

2014

Increase/decreas

Percentag

e amount

Liabilities

& 2013

Capital
Share capital
Reserves

1,32,76,100.0

1,37,67,100.0

(+)4,91,000.00

3.6 %

0
and 8,04,28,468.3

0
9,80,11,843.3

(+)1,75,83,374.9

21.8 %

surplus
Secured loans

7
3,07,84,483.0

4
3,33,31,243.0

7
(+)25,46,760.00

8.2 %

Current

0
31,59,48,287.

0
32,63,82,079.

(+)1,04,33,791.9

3.3 %

85

1,54,775.00

43,402.00

(-)1,11,373.00

71.9 %

44,05,92,114.

37,35,23,824.

(-)6,70,68,289.45

15.2 %

85

liabilities
provisions
Share

& 93

stabilization
Fund
Total

52

[Type text]

53

[Type text]
MANUFACTURING, TRADING &PROFIT & LOSS ACCOUNT OF2013-14
Previous year

Particulars

Current year

Previous year

(amount)

(amount)

Opening

8,12,58,066.0

36,81,24,938. Sale of milk& 37,55,13,351

stock

64

milk

.17

32,64,995.00

products
Misc. income

10332870.49

(amount)
7,13,42,395.80

Current year
(amount)

28,66,99,619.4

Purchase

milk&

2,36,48,275.32

products
Procurement

2,72,95,223.1

8,12,58,066.0 Closing stock 10,35,47,007

Expenses
Processing

8
71,01,192.68

.00

57,90,158.68
2,28,33,697.78

expenses
Production

2,44,74,667.0

2,28,33,697.78

expenses
Packing

1
1,79,69,644.7

1,18,69,119.60

expenses
0
Store/Purcha- 1,37,25,203.3

3,01,74,528.

-se/

of 31,64,46,682.

Particulars

milk 57

Engg 4

expenses
Admn/accou

2,59,04,726.7

2,64,46,257.4 Sale on

nts expenses

2,557.00

Service Tax

4,202.00

97,77,021.75

Distribution

99,37,265.84

27,33,803.65

expenses
Depreciation

4,14,73,523.80

Consignment 20
Basis

1,79,01,905.5 Loss for the

1,45,36,884.

77

Year

27,11,437.89

49,69,96,162.6

53,41,04,641.

49,69,96,162.

53,41,04,641

63

62

.63

54