07-02-2013, 11:45 AM
A PROJECT REPORT ON GENERAL INFORMATION ABOUT THE COMPANY IN THE AREA OF FINANCE FOR GUJARAT NARMADA VALLEY FERTILIZERS COMPANY LTD.
A PROJECT REPORT.doc (Size: 2.13 MB / Downloads: 31)
INTRODUCTION
Agriculture the backbone of Indian Economy still holds its relative importance for more than a billion peoples.India is primarily an agriculture based economy. The agricultural sector and its other associated spheres provide employment to a large section of the country's population.
Fertilizer in the agricultural process is an important area of concern. Fertilizer industry in India has succeeded in meeting the demand of all chemical fertilizers in the recent years. The Fertilizer Industry in India started its first manufacturing unit of Single Super Phosphate (SSP) in Ranipet near Chennai with a capacity of 6000 MT a year.
The company has varied products and diversification as well as growth strategy. It has been basic to India’s progress not only because of its inception immediately after independence. But on one hand it has helped in production of strong needed fertilizer as well as the chemical products ands on other hand has provided employment to many people. Such employment is not only limited to company’s own premises but all other industries whose growth has been fostered with development of this fertilizers and chemical company are benefited through if.
Production Department
GNFC has drawn on the worlds leading technologies and systems for its various production culmination of enterprise and initiative, resourcefulness and resolve, technology at GNFC common vision for continuous growth.
GNFC has always shown a dedication to standards of production and environment safeguards, qualified research acumen, and 100% capacity utilisation for more than two decades.
Finance Department
G.N.F.C has a very active finance department, which looks for finance management of company. Division of work plays an important role in every organization for smooth working.
Financial management is that managerial activity which is concern with the planning and controlling of the company’s financial resources so finance is life blood for every organization, without efficient financial management, company can’t survive for long time.
INDUSTRY PROFILE
Introduction:
Fertilizers sector is a very crucial for the Indian economy because it provides a very important input to agriculture. The fertilizer industry in India has played a pivotal role in achieving self-sufficiency in food grains as well as in rapid and sustained agriculture growth. India is the third largest procedures and consumer of fertilizer in the world after China and the United States.
Agriculture, which accounts for one fifth of GDP, provides sustenance to two-thirds of the population. Besides, it provides crucial backward and forward linkages to the rest of the economy. Successive five-year plans have laid stress on self-sufficiency and self-reliance in food grains production and concentrated efforts in this direction have resulted in substantial increase in agriculture production and productivity. This is clear from the fact that from a very modest level of 52 million MT in 1951-52, food grains production rose to above 208.6 million MT in 2005-06.
Growth in Fertilizer Industry:
The Indian fertilizer industry has succeeded in meeting almost fully the demand of all chemical fertilizers except for MOP. The industry had a very humble beginning in 1906, when the first manufacturing unit of Single Super Phosphate (SSP) was set up in Ranipet near Chennai with an annual capacity of 6000 MT. The Fertilizer & Chemicals Travancore of India Ltd. (FACT) at Cochin in Kerala and the Fertilizers Corporation of India (FCI) in Sindri in Bihar were the first large sized -fertilizer plants set up in the forties and fifties with a view to establish an industrial base to achieve self-sufficiency in foodgrains. Subsequently, green revolution in the late sixties gave an impetus to the growth of fertilizer industry in India. The seventies and eighties then witnessed a significant addition to the fertilizer production capacity.
The installed capacity as on 30.01.2003 has reached a level of 121.10 lakh MT of nitrogen (inclusive of an installed capacity of 208.42 lakh MT of urea after reassessment of capacity) and 53.60 lakh MT of phosphatic nutrient, making India the 3rd largest fertilizer producer in the world. The rapid build-up of fertilizer production capacity in the country has been achieved as a result of a favourable policy environment facilitating large investments in the public, co-operative and private sectors. Presently, there are 57 large sized fertilizer plants in the country manufacturing a wide range of nitrogenous, phosphatic and complex fertilizers. Out of these, 29 unit produce urea, 20 units produce DAP and complex fertilizers 13 plants manufacture Ammonium Sulphate (AS), Calcium Ammonium Nitrate (CAN) and other low analysis nitrogenous fertilizers. Besides, there are about 64 medium and small-scale units in operation producing SSP.