14-06-2013, 03:32 PM
Cash Management Services Ultra Tech Corporation Ltd
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INTRODUCTION OF ULTRA TECH CORPORATION LTD.
Overview
Founded in1919 by the visionary industrialist Shri G.D. Ultra tech, at the outskirts of the Kolkata, ULTRA TECHjute manufacturing company Ltd. Was the first company of the ULTRA TECHIndustrial Conglomerate. Under the stewardship of his nephew Shri M.P. Ultra tech, the company diversified and expand its business interest beyond jute, to encompass cement PVC coated fabric, PVC floor covering and auto trims.
After the demise of Late Mr. M.P. ULTRA TECHin 1990, his wife, Mrs. Priyamvada ULTRA TECHtook over as chairman of ULTRA TECHCorporation and continued to lead the company till her death on 3 July 2004. She was an entrepreneur of distinction strong business acumen and, under her leadership; the company crossed the Rs. 1,300-plus turnover mark.
The company renamed ULTRA TECHCorporation Limited, to reflect the wide range of operation, is the flagship company of the M. P. ULTRA TECHgroup. The strategic focus of the company has been on steady growth by developing and assimilating technologies of tomorrow to manufacturing an ever widening range of value-added product, while striving for complete customer satisfaction in India and abroad. ULTRA TECHCorporation Limited is proud of safe work practice followed at all its factories and go downs. As an enlightened corporate citizen, ULTRA TECHCorporation Limited is keenly aware of social responsibilities too, and provide education and health care facilities for its employees, their families and the community at large.
Overview : Cement Industry
The cement division of ULTRA TECHCorporation Limited has seven plants, two each at Satna (M.P.) – Satna Cement Works & ULTRA TECHVikas Cement, Chanderia (Rajasthan) – ULTRA TECH Cement Works & Chanderia Cement Works, and Durgapur (W.B.) – Durgapur Cement Works & Durga Works & Durga Hitech Cement and one at Raebareli (U.P.) the total capacity of these plants is 57.80 lakh tones. This plant manufacture varieties of Cement like Ordinary Portland Cement (OPC),43 & 53 grade, Portland Pozolanna Cement (PPC), Fly Ash based PPC, Low Alkali Portland Cement, Portland Slag Cement, Low Heat Cement and Sulphate resisting Portland cement.
Product Profile
At Satna Cement Works & ULTRA TECH Vikas Cement the dry process of Cement production followed which is termed as a modern technology. The Entire Manufacturing process is controlled through a microprocessor based programmable logic control system to maintain a constantly uniform quality of Cement & high rate of production. The entire operation of plant is controlled in a single control room. SCW plant, which was initially, a plant using a wet technology for cement production was changed an to a dry one in the year 1989. These modern plant have also taken adequate core to prevent the environment policy & dust nuisance to its surrounding areas. These cement mills have electrostatic precipitator (ESP) installed to check dust emission & to ensure health hazard free atmosphere.
Both the plant uses the global technology for the production of goods & consistent quality cement. The Stacker Reclaimer Technology & the alkali by pass system along with other sound technology make the manufacturing process of ULTRA TECH Cement Khajuraho a highly competitive & unique one.
General Review of company
The year 2005-06 was the most successful year of the company since its inception in terms of financial performance. The company, maintaining stable growth, posted 7% increased in turnover to Rs. 1433.44 crores as compared to Rs. 1342.64 crores in the pervious year. The interest cost further reduced during the year Rs. 13.62 crores as compared to Rs. 21.69 crores in the previous year. Profit before tax recorded at 54% jump when up to Rs. 144.09 crores from Rs. 93.70 crores in the previous year. The company recorded the highest ever turnover, cash profit, profit before tax and profit after tax during the year. The management continued its effort to control and reduce cost across all the division at all levels. Profitability of the company improved due to increase in volumes, sales price realization and better operating efficiencies.
Corporate Matters
Thermal power plant of 27 MW each for captive use at the company’s units at Chanderia and Satna were installed and put to use during the year. These power plant are expected to reduce the power cost significantly and increase the operational efficiencies.
The company’s new unit: Durga Hitech Cement, adjacent to the existing plant at Durgapur, West Bengal was also commissioned for commercial production on 24 December 2005.
The company has taken up steps to enhance the capacity of clinker production at its plant in phases. The project once executed, will result in saving in fixed running cost and existing infrastructure like railway siding and power plant will also be used optionally.
Effort to shift Soorah Jute Mill’s to Ultra techpur from heart of Kolkata city for economic viability, operational efficiencies and environmental issues are continuing.
Working Capital
It will also make anassessment of the total working capital and working capital requirement for the fiscal year and advice the management regarding the sources of financing the working capital requirement.
Purchase:
Finance wing will be associated on a matter relating to purchase of equipments, machinery etc. it would also lay down suitable procedure for purchase to ensure that adequate control is exercised over such purchase and that there is no un-economic purchase.
Pricing Policies:
It will also advice the chief executive on pricing policies taken by the organization in regards to the selling price of power inter department issues charging of material to job contract.
Overview of cash management service of ULTRA TECH
HDFC provides cash management services to corporate clients . (Funds Available in Shortest Time) from 198 collecting location across the country with pooling facility at different branches as per client choice, which is physically connected to out central hub at Mumbai. H.D.F.C.’s product is aimed at enhancing liquidity, reducing costs and providing opportunities for profit for their client. The product is technology-driven and the entire network is linked through VSATs / leased lines. Under H.D.F.C., funds are transferred directly to the client main account (at any one or more of the 65 pooling centers) from various collection centers on the same day that they are cleared at the centers. H.D.F.C. also offers disbursement / payment services through a separate debit transfer module to facilitate payment at various expenditure centers & plant location. On a daily basis detailed MIS reports, covering location-wise presentation, location-wise credit and cheque returns, are made available to corporate head offices as well as to the local offices / representatives at the various centers of the client through Email. H.D.F.C. also customize the MIS report to suit the client’s requirements. Daily / monthly reports are sent to client through E-Mail. Full reconciliation support is provided centrally from H.D.F.C.’s hub at Mumbai through a dedicated team. With a huge volumes routed through this product, H.D.F.C. is the acknowledged leader in the collection services, which basically at collection of sales proceeds electronically for companies having a wide market network spread all over the country.
CONCLUSION OF CMS
The CMS service has mostly provided by the HDFC,SBI,IDBI,and ICICI banks there are two side of benefit by cms first to the company which adopted the cms services and second to the banks which gives the better services to customer as a remittance charges .
Due to the cms the float of the money are minimized which gives the directly profit to the company as an investment return the cms also provides some credit to the company without interest for a period of time which increase the capital of compny for the production
The cms services support to the MIS which help to information about clarification of instrument on this basis of it company can prepare reports like presentation credit and return reports which identified the cash flow and also help to the investment daily basis.