INTERNSHIP REPORT ON

“AN ORGANIZATION STUDY OF NINJACART”

BY

CHETHAN S
1KG18MBA12
Submitted to
VISVESVARAYA TECHNOLOGICAL UNIVERSITY
“JnanaSangama”, Belgaum – 590018

In partial fulfillment of the requirements for the award of degree of

MASTER OF BUSINESS ADMINISTRATION
Under the Guidance of
INTERNAL GUIDE EXTERNAL GUIDE
PROF.MANJUNATH S Mr PRAJWAL,
DEPT. OF MGMT. STUDIES MANAGER, NINJACART
KSSEM, BANGALORE BANGALORE

Department of MBA
K.S. School of Engineering and Management
No. 15, Mallasandra, off Kanakapura Road, Bangalore-560062
 DECLARATION

I Chetan S hearby declare that the internship report entitled “AN ORGANISATION
STUDY OF NINJACART PVT. LTD.” Prepared by me under the guidance of Prof.
Manjunath.S faculty of MBA Department, K,S. School of engineering and
Management and external assistance by Mr. Prajwal ,Manager-HR at
NINJACART PVT.LTD, Bangalore

I also declare that this internship work is towards the partial fulfillment of the
university regulations for the award of degree of Master of business administration by
visvesvaraya technological University, Belgaum.

I have undergone an internship for a period of four weeks . I further declare that this
project is based on the original study undertaken by me and not been submitted for the
award of any degree/diploma from any other university/institutions

Place :

Date :

Signature of student

CHETHAN S

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 ACKNOWLEDGEMENT

The satisfaction and euphoria that accompany the success of any task would be
incomplete without the mention of the people who made it possible, whose consistent
guidance and crowned my effort with success.

I take pleasure thanking Dr. Raja Narasimha Principal, K, S School of

Engineering and, Bangalore, for creating the right kind of milieu.

I would like to thank to prof. John Manohar, Head of Department , Department

of MBA, K, S School of Engineering and Management, Bangalore, for his
constant movement and encouragement.

I would like to thank my guide Prof. Manjunath S, Associate professor,

Department of Master of Business Administration, K, S School of Engineering
and Management, Bangalore, for identifying my area of work, reviewing it at every
stage and for his patients valuable hours serving as my project guide.

I extend my thanks to entire faculty of department of Management studies ,K,S

School of Engineering and Management, Bangalore who have encouraged me
throughout the project.

I would like to record my sincere thanks especially to all the staff of Ninjacart Pvt.
LTD, for their great help.

Last but not the least, I thank my family and friends for their invaluable help and
support during the project work.

CHETHAN S

(1KG18MBA12)

5|Page
 TABLE OF CONTENTS

SL NO. CONTENTS PAGE NO

1. Introduction about the Internship, 1-3

Industry Profile
1. Introduction about the internship 1.2

1.1 Industry profile 3

2. Organisation profile 4-6

2.1 Back ground 7

2.2 Nature of business 8-9

2.3 Vision mission, quality policy 10-13

2.4 Workflow model 13-17

2.5 service profile 18-20

2.6 Ownership pattern 21-23

2.7 Achievements/awards 24

2.8 Future growth and prospectus 24

3 Mckensy's 7s framework and porters 25-29

Five Force Model
4 SWOT Analysis 30-31

5 Analysis of financial statements 32-42

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 6 Learning experience 43

LIST OF TABLES

SL. NO TITLE PAGE NO

5.1 Table showing current ratio of the 34

organisation

5.2 Table showing Quick ratio of the 35

organisation
5.3 Table showing Total Asset Turnover ratio of 36
the organisation
5.4 Table showing Fixed asset to net worth ratio of 37
the organisation
5.5 Table showing Current Assets to Net Worth 38
ratio of the organisation
5.6 Table showing Fixed asset turn over ratio of 39
the organisation
5.7 Table showing Current Asset Turnover ratio 40
of the organisation
5.8 Table showing Proprietary ratio of the 41
organisation
5.9 Table showing Net Profit ratio of the 42
organisation

7|Page
 LIST OF CHARTS

SL. NO TITLE PAGE NO

5.1 Chart showing current ratio of the 34

organisation

5.2 Chart showing Quick ratio of the 35

organisation
5.3 Chart showing Total Asset Turnover ratio of 36
the organisation
5.4 Chart showing Fixed asset to net worth ratio of 37
the organisation
5.5 Chart showing Current Assets to Net Worth 38
ratio of the organisation
5.6 Chart showing Fixed asset turn over ratio of 39
the organisation
5.7 Chart showing Current Asset Turnover ratio 40
of the organisation
5.8 Chart showing Proprietary ratio of the 41
organisation
5.9 Chart showing Net Profit ratio of the 42
organisation

8|Page
 EXECUTIVE SUMMARY

The MBA program offered by the Visvesvaraya Technological University has its own
unique syllabus which require it’s MBA students to undertake with any of the leading
business hours for a period raging from 4 weeks during 2nd semester

Ninjacart , an online platform through which retailers and merchants can source fruits
and vegetables directly from the farmers, Ninjacart have successfully done away with
middlemen, commission agent, and auction agent present in “mandis”. This start up
also provides an effective price discovery platform to the farmers. Since Ninjacart
ensures that their products reaches their clients effectively via an efficient and
technological driven supply chain, they have stuck a win – win situation

In efficiencies could be seen in almost every aspect there were a Lot of middlemen
involved, there was no price transparency whatever the produce of the farmer
exchange a of hand before the reaching the eventual consumer. Which result in
farmer hardly making any money in this whole scenario

This is a market which has huge potential, has tremendous scope of development.
Instantly it was realised that there is a lot of value addition thus Canberra done in this
space by bringing technological and operational efficiencies.

The other part of the report details about the analysis of the financial statements such
as ratio and rend analysis, as per the analysis the overall company’s performance is
good and satisfactory

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 CHAPTER-1
INTRODUCTION

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 1. INTRODUCTION ABOUT THE INTERNSHIP :
1. INTRODUCTION
An internship is a job training for WHITE COLLAR and professional careers.
Internship for professional career are similar in some ways but as not as rigorous
as apprenticeships for some professions, trade and vocational jobs, but the lack of
standardisation and oversight leaves the term open to board interpretation. Interns
may be college or university students, high school students, or post graduate
students, or post graduate adults. These position may be paid or unpaid and are
usually temporary.

Generally, an internship consists of an exchange of services for experience

between the students and the organisation. Students can also use a internship to
determine if they have an interest in particular career, to create a network of
contract, to acquire a recommendation letter to add to their curriculum vitae, or to
gain school credits.

Some interns fine permanent, paid employment with the organisation for which
they worked upon completion of internship. This can be a significant benefit to the
employee as experienced interns often little or no training when they began
regular employment. It also helps an employer in gauging a students aptitude,
since grade inflation has underlined the reliability of academic grades. Unlike a
trainee programme, employment at the complete of on internship is not guaranteed
.

The internship experience is designed to provide students working towards

certificate and Associate in Applied Signs degrees in Law Enforcement or Corrections
with an opportunity to develop insight into the practical application of academic
knowledge Through observing the work activities of the members of a criminal justice
agency and by working under supervision, students will be better prepare to assess
their own interest and potential for a career in criminal justice. The student's practical
learning experience will be most beneficial if he or she has a general knowledge of
the criminal justice area This understanding will be forthcoming from the completion
of the required number of hours of criminal Justice coursework prior enrolment in
internships

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The purpose of internship is:

1) To enrich classroom learning through exposure to related on the job experience

2) To assist in the determination of the career goals

3) To provide experience in the field for those just entering the criminal justice field

4) To broaden this experience and the students perspective on criminal justice issue
for those who have proper experience in criminal justice field

You should also realize that a successful internship experience is not only Plus on
your academic transcript and job resume, but the experience also may be your means
of obtaining employment with the agency later. A number of people play an active
role in the internship The key people involved in the internship experience are:

The student intern:

A motivated person who is seeking a practical learning experience with an agency in

the criminal system

The agency supervisor:

A knowledgeable and experienced practitioner who will

1) Provide guidance to the student intern

2) Monitor and evaluate the interns performance

Internship supervisor:

The specifies member of the criminal justice faculty who will work closely with the
student intern to resolve questions and problems, maintain records and reports the
internship, see that internship guidelines are adhered to communicate with internship
agencies as necessary, and evaluate the students overall performance

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1.1 INDUSTRY PROFILE :

Business to business also called B to B or B2B, is a form of transaction between

businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and
a retailer. Business to business refers to business that is conducted between
companies, rather than between a company and individual consumers, services Sector
in India today accounts for more than half of India's

GDP. According to data for the financial year 2006-2007, the share of services
contributes to 55.1 per cent of the GDP, where as industry, and agriculture in shares
26.4 per cent, and 18.5 per cent respectively. This shows

the importance of service industry to the Indian economy and as service sector now
accounts for more than half the GDP marks a watershed in the evolution of the Indian
economy and takes it closer to the fundamentals of a developed economy. There was
marked acceleration in the growth of services sector in the nineties. While the share of
services in India's GDP increased by 21 per cent points in the 50 years between 1950
and 2000, nearly 40 per cent of that increase was concentrated in the nineties. While
almost all service sectors participated in this boom, growth was fastest in
communications, banking, hotels and restaurants, community services, trade and
business services. One

of the reasons for the sudden growth in the services sector in India in the nineties was
the liberalization in the regulatory framework that gave rise to innovation and higher
exports from the services sector. In the current

economic scenario it looks that the boom in the services sector is here to stay as India
is fast emerging as global services hub.

The major sectors that combine together to constitute service industry in India
are listed below.

 Information Technology
 Trade
 Education
 Financial services
 Media

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  Hospitality, accommodation and food services
 Entertainment, culture and recreation
 Transportation and warehousing
 Storage
 Communication
 Healthcare & social assistance
 Tourism
 Public utilities
 Real estate and leasing
 Public administration and defence

Logistics is the management of supply chain, covering customer service,

warehousing, transport, purchasing, materials handling, strategic planning and so on.
Logistics is the backbone of the economy, providing the efficient, cost effective flow
of goods on which other commercial sectors depend.

The logistics industry in India is evolving rapidly and it is the interplay of

infrastructure, technology and new types of service providers that will define whether
the industry is able to help its customers reduce their logistics costs and provide
effective services.
Despite weak economic sentiments, the logistics & warehousing industry continued to
witness growth
largely due to growth in retail, e-commerce and manufacturing sectors. The Global
Logistics grew at 10- 15% in the period 2013-14. With this forward looking attitude
and a promise of growth and improvements, the service oriented logistics industry is
all set to expand beyond the horizons in the latter half of this decade, utilizing this
fiscal year as its launch pad.
According to a report launched by the World Economic Forum if all countries were to
improve their logistics performance and reduce supply chain barriers to just half the
level observed in the best performing country in their respective regions, global GDP
could increase by 2.6%. Indeed, if countries were to be more ambitious and improve
their border management and transport related infrastructure services to attain 50% of
the global best practice level (as observed in Singapore), global GDP would jump by
4.7% – six times more than what could result from removing all import tariffs. Such

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large increases in GDP would be associated with positive effects on unemployment,
potentially adding millions of jobs to the global workforce.
According to the World Bank’s 2012 Logistics Performance Indicator, India is ranked
46th and is behind countries such as Japan, the United States, Germany and China.

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 CHAPTER-2
ORGANISATION PROFILE

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2. ORGANIZATION PROFILE

(1) Name of the company NINJACART

and CIN U72200KA2015PTCO81330
(2) Headquarters Bangalore 9 1ST C Main road, Bangalore

(3) Representative Thirukumaran Nagarajan (Chief executive officer)

(4) Business Online B2B fresh produce Supply Chain

(5) Share Capital $ 149.5M

(6) Date of Establishment JULY 2015

(7) Investement July 2015 =$32.3M

7/3/2016 = $3M
11/4/2017 =$5.7M
5/3/2018 =$1.1M
30/7/2018 =$4.9M
12/12/2018 =$2.5M
24/4/2019 =$90M
21/6/2019 =$10M

(8) Investors Steadview Capital

Tanglin Venture Partner
Trifecta Capital Advisors
Tiger Global Management
Neoplus
Syngenta Venture
Accel

(9) Investement Type Venture Capital

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India is the world largest producer of many fruits and vegetables but there is still exist
huge gap between per capita demand and supply due to enormous waste during post
harvest storage and handling caused by improper bagging without crating , lack of
temperature control vehicle etc.

These problems were analysed by some entrepreneurs which includes the founder and
CEO of Ninjacart. Their main motto is to deduct the middle men who were not
allowing the fair price for both farmers and consumers, these type supply chain
management company / organisations recognised the need of farmers and consumers,
they also recognised the demand for frits and vegetables in the market, they wanted
no middle men’s to deal with the farmers and consumers, they wanted to supply fresh
fruits and vegetables directly from farmers to retailers/consumers by providing the
required type of transportation, storage, technology and other services

This not only benefits for farmers but also for dealers, distributors, retailers,
customers in sense everyone who involved in the activity. It is basically a win – win
strategy

The organisation not only supply vegetables and fruits but also spread awareness
among the farmers about the crops which is to be grown depending upon the season,
water availability, demand and other aspects which affects the farmers . This type of
educating the farmers mostly helps developing the country because more of our
country population is depended on agriculture.

Ninja cart is India’s largest B2B fresh product supply chain company. Made for India
technology and India centric solution have disrupted the way fruits and vegetables
move to producers, business and consumers in a meaningful manner

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 2.1 BACKGROUND

In July 2015 as a hyper local grocery delivery startup. But September 2015 it
delivered to pivot from that to becoming a B2B suppliers from farmers to kirana
stores

Meanwhile, B2B model was doing really well, then the company realized both
farmers and kirana were happy as they got more money and better quality fruits
and vegetables once the middle men were eliminated

Then the committee approached to the board for further investement for the
purpose of extending the business and making it recognized through the country.
The board evaluated the risks and uncertainties involved in these type of B2B
market and slowly released the funds depending upon the profits which were
earned during the year by the company.

Ninjacart (63 idea infolabs PVT. LTD.) is a leading B2B agri marketing platform
with an integrated supply chain That connects farmers directly with urban retailers
and businesses. Aim is to build a community supported agriculture ecosystem
which offers direct urban linkage to the farmers, enabling them to bypass middle
men to sell their produce. Traditional supply chain of vegetables and fruits leads
to the lower income of farmers, higher food wastage and unhygienic food
handling. Main goal of company is to provide farmers more value for their
produce by enabling them with technology access to farm input, training on best
practices, easier alternate to market their fresh produce effectively there by
positively impacting the income of vegetables and fruit farming

Since incorporation in 2015, Ninjacart now currently source from 13,500, farmers
networks across various districts in Karnataka like in Mandya, Malur,
Chikkaballapur, doddabellapura, Biddruguppe, Baaralu, nonavinakare and serves
around 500 tonnes per day to 2000+ retailers and restaurants in Bangalore
Ninjacart deals with 80+ varieties of fruits and vegetables, aiming to provide one

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 stop solution to farmers to sell and urban retailers to procure at their doorsteps,
Ninjacart 22 post – harvesting collection facilities operations in Bangalore

2.2 NATURE OF BUSINESS (SERVICE)

Steps involved in this service process

 Farmers
 Collection center
 Fulfillment center
 Distribution center
 Retailers

FARMERS :

13500+

COLLECTIO
N CENTER
:60+

FULFILLM
ENT
CENTER :
2

DISTRIB
UTION

CENTR :
30+

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 RETAIL
ERS :

2000+

A typical day at Ninjacart begins with farmers bringing in their produce to one of the
Collection Centers (CC) in their respective villages (P.S.: we have 60+ CCs across
India). At CCs, items are graded, weighed, batched, and dispatched to our Fulfillment
Centers (FC). Depending on the distribution of these Collection Centers (CC), the
capacity of each vehicle, and products sourced, our algorithms create an optimal route
plan, set a dispatch schedule and fix arrival slots.

It all begins with an end to end meticulous planning by factoring in the infrastructure,
helpers, vehicles and crates. One of the unique problems at Ninjacart is to orchestrate
the flow of crates on time to ensure our supply chain engine keeps running. Every
night, a plan is generated to move almost 2 lac crates from our 30+ Distribution
Centers (DCs) to 60+ CCs. We can know the exact CC wise supply data only by 8 PM.
Then, an army of vehicles transfer the crates overnight to ensure adequate crates are
available in CCs by the early hours of the next day. We also ensure our logistics
partners get a good 7–8 hours of sleep before they start their respective work shifts.

We culminate all of this in our logistic planning model for the day. We also log an
inventory of the empty crates present at each of the CCs and then allocate vehicles to
them such that the distance travelled by the vehicle is optimized keeping in mind the
capacity constraints of the CCs and the 8-hour sleep requirement of the drivers.
Farmers travel to the CCs with their produce during the morning hours. At around 3:00

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p.m, we begin dispatch of the last truck from the CC. All the produce is then batched
for the customers at the Fulfilment Centers.

Middle Mile Delivery

As the trucks that were scheduled for the night move towards the Fulfillment Centers
(FC), we prepare for the next phase of planning, i.e. delivering the products from the
FC to the DCs across the city. The plan includes a random inspection of the quality of
produce in each vehicle and subsequently batching the items in the Distribution Centre,
queue-wise, and then dispatching them to their destination. We also have to take into
account the distance between the CCs as well as the distance between the FC and DCs
to plan out each route with maximum capacity at minimal cost. These two plans
combined, form the core of the business operations at Ninjacart. We then move to the
last and most interesting phase of operations, aptly known as the Last Mile Delivery.

Last Mile Delivery

Once the produce reaches our Distribution Centers, we pick out the products and batch
them according to customers’ requirements. Optimally, we deliver to 5000 customers
using 8 locations inside a city, where order from each store is close to 6–7 crates on an
average. The roads and legal requirements restrict the size of vehicles that can be used
for such operations. Hence, we use extremely sophisticated software tools to set up the
geography of the city, the maximum capacity of the vehicles to be used, the start and
end locations of said vehicles, and the cost required to service every customer. All of
this combined provides us enough data to run our optimization engine* and create
delivery routes for t he day.

At the end of the delivery routes, we let the vehicles rest and proceed to plan for the
return and recovery, which is a very crucial portion of our supply chain. Here, our
delivery agents inspect the quality of the produce returned and they pick up the crates
that were delivered on the same morning along with the remaining crates from the

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previous night. As this data is entered into the system, we get a clear picture of how
many crates will reach our DC. At the end of these routes, we start planning the

dispatch for the First Mile Delivery vehicles, thus completing the circular journey of a
crate in our system.

2.3 VISION, MISSION AND QUALITY POLICY :

2.3.1 : VISION

To be the premier through leadership institution in supply chain management (SCM)

to transform organisation, stays at the cutting edge of supply chain management

Vision or the long term objective of the organisation is to be the largest and leading
fruits and vegetables supply chain management in India, the company is now taking
transactions currently in 8 cities such as Bangalore, Chennai, Hyderabad, Pune,
Ahmadabad, Mumbai, and Delhi and it’s vision is to expand it in all the states I
coming future

The company/organisation not only deals with their own expansion but also want
their farmers to increase their income who they interact regularly because farmers are
the primary sources for the organisation because they provide the products which have
to be distributed to the customers all over the state according to the company standards
the organisation want to eliminate some of the main problems of the farmers such as
low price for the product and to protect from illegal middle men because they are the
back bone of the organisation as well as country.

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2.3.2 : MISSION

A mission statement is a short statement of why an organization exists, what its

overall goal is, identifying the goal of its operations We try to act as a one stop
solution for the farmers where we take everything from procurement to payment

We have also started other initiatives such as sharing knowledge on advancement

techniques in minimum yield per acreage and advice them on the ideal crop rotation
cycle for better land utilisation and revenues, besides we share our prediction and
analysis on demand and pricing

Development in every app mainly educating farmers in the present in the present
farmers facing app and to make the app more friendly for farmers, retailers and
customers technology development helps in less errors which results in more revenue

The opportunity is humungous, to give perspective, Bangalore alone needs 15,000

tonnes of vegetables and fruits per day and we are addressing just 220 tonnes

The main social mission is to save the farmers by transparency in the business and
making sure that there would be no suffering for the farmers in the media of pricing,
transport, storage, etc.

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 Therefore the main mission of the organisation is to increase the productivity and
increase the profit of the farmers, forming a perfect transportation and logistics
services so there would be no wastage of materials and make sure that the products
reaches to the customers fresh and within time

Now presently the company is aiming to spread the process among all the retailers in
Bangalore, so that there would be no competitors between the company by increasing
the tonnage day by day, this can be achieved by giving the regular target to the sales
executive and improving the marketing strategy, as now the company is expanding in
some other states so the company is aiming to start it’s supply chain management
throughout the country.

2.3.3 : QUALITYY POLICY :

 Food safety of fresh fruits and vegetables.

 Good agricultural practices (GAPs).
 Good manufacturing practices (GMPs).
 Principles and practices of food safety management.
 Food laws and food safety regulations.

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 Food safety and quality assurance in fresh produce should be ongoing
processes that incorporates activities from the selection and preparation of the
soil in agriculture operations, through the final preparation and consumption
of the food. Both food safety and quality assurance should focus on the
prevention of problems, since once safety or quality has been reduced it is
difficult or impossible to restore. Also, implementing quality assurance
programmes should help ensure that problems experienced in the past do not
affect the future product the same way.

In the organisation the company would send a particular reserved officer

towards the farmer before accepting his order, so that the farmer would be
well educated about what type of product the company is expecting and the
particular information’s would be shared to the farmers, like how should the
fruit or the veritable should be grown what type of fertilizers should be used
to grow the products according to the company standard so that there would
be no complications in the future.

The company executive will check the produce before loading it to the
vehicle, collected by the farmer by the grading technique prefixed, only the
acceptable products will be collected and the worst or not suitable will be
rejected, and the farmer will be guided by the particular officer so that he
would reduce his errors I the future.

2.4 : WORK FLOW MODEL :

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27 | P a g e
1. Collection centre (10am to 4pm)

 Farmer arrival

 DC incharge : view the PO

 Unloading the materials

 Grading the materials

 Lotting the

 Slotting and stacking the materials

 Creating GRN and PO for farmers

 Loading according to PO

 Sealing the trip with ID tag for FC

2. Fulfillment centre (5pm to 11pm)

 Receiving the vehicle and entering the trip ID

 Pre batching or Wild batching

 Random sampling grading

 SKU Batching or storage

 Slot verification

 DC wise vehicle and slot mapping

 Entering PO DC wise

 Sealing and dispatching the vehicle

 Repeating the same for next shift

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For Non-perishable items and Fruits procurement is directly at FC and the process

followed for GRN creation is similar as that of a CC

3. Distribution centre

 Receiving the items at DC

 Entering the trip id

 Unloading the items

 Verification of the received items

 Updating the shortage

 Queuing the received slot

 SKU batching

 Slot verification

 Queuing slots to responsive trip number

 Loading of the crates (LIFO)

 Starting the trip

 Repeating the same for next 2 shifts

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 4. Last mile logistics
Once the produce reaches our Distribution Centers, we pick out the products and batch
them according to customers’ requirements. Optimally, we deliver to 5000 customers
using 8 locations inside a city, where order from each store is close to 6–7 crates on an
average. The roads and legal requirements restrict the size of vehicles that can be used
for such operations. Hence, we use extremely sophisticated software tools to set up the
geography of the city, the maximum capacity of the vehicles to be used, the start and
end locations of said vehicles, and the cost required to service every customer. All of
this combined provides us enough data to run our optimization engine* and create
delivery routes for the day.

 Starting the trip and reaching the customer

 Unloading the items and handling over the invoice

 Verifying the number of crates dropped

 Take a picture of the crates dropped

 Moving to next customer

 Completing the delivery by 8:30 AM

 Coming back to same customer

 Entering remaining returns

 Collection of crates and cash

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 2.5 SERVICE PROFILE :

Many items are delivered by the supply chain management which are received
from the farmers

Skuid Sku Skuid Sku

6 Beans (chikkadi kai) 70 Curry leaves

7 Beans (cluster) 73 Methi

8 Beans (cow pea) 74 Palak

10 Beans (french/ haricot) 75 Pudhina (Indian mint)

11 Beans (local) 76 Spring onion

12 Beetroot 77 Coconut

13 Brinjal bottle black 78 Garlic

14 Brinjal long green 79 Ginger

16 Brinjal small (Purple/Stripes) 82 Banana yellaki

18 Cabbage local 99 Chicco (sapota)

20 Capsicum (green) 100 Musk melon (local)

24 Chilli (bajji) 114 Papaya (round)

25 Chilli (long) 117 Pineapple

27 Chow chow 120 Pomegranate (big)

29 Corn (sweet) (Pack of 2) 121 Watermelon

30 Cucumber (english) 124 Mango Banganapalle

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31 Cucumber (Indian) 129 Mango raspuri

33 Cucumber (sambar) 136 Mango thotapuri

34 Drumstick 139 Cauliflower(Medium)

36 Knol khol 144 Potato

37 Ladies finger 770 Mosambi (juice)

38 Pumpkin (big) 899 Mango Badami

43 Tomato (hybrid) - Standard 1761 Musk Melon (Stripes)

44 Tomato (local) 1762 Carrot Ooty

59 Bitter gourd (regular) 1817 Raddish

61 Bottle gourd 1835 Banana Pachabale Crates

63 Ivy gourd 1885 Lemon (KG)

64 Ridge gourd 1954 Baby Bottle Gourd

65 Snake gourd 2108 Onion

69 Coriander 2126 Kiwi Fruit - Pack of 3

2131 Apple Washington (Box of 36 pcs)

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These above products which would be available for the customers (retailers) they can
book those products according to the availability, apart from this company also provide
free delivery if the invoice is exceeding more than ₹1500. The above products will be

33 | P a g e
safely delivered to the customers according to the health standard in the proper crates
available for different products

2.6 OWNERSHIP PATTERN IN NINJACART :

 Ninjacart is private institution incorporated on July 2015

 It is classified as non – govt. Company
 Registered at registrar of companies, Bangalore
 Ninjacart Pvt. Ltd. Annual general meeting (AGM) was held on 11 June 2017
 Founders of Ninjacart are Ashutosh Vikram, kartheerswarann K K, Sharath
Lognanathan, Thiru Nagarajan, Thirukumaran Nagarajan, Vasu Devan.
 Investement type = Late stage venture.
 Registration number is 5990.

Tiger Global has invested Rs 625 crore in NinjaCart, picking up a little less than
26.5% stake and valuing the agri-tech start up at over $320million, in what inarguably
the largest initial cheque written by the New York-based investment powerhouse
OCK.

The mentale Tiger Global out on The Bengaluru based 63ideas dargestcony and
comes after Cart Infolabs, which owns and closed a $35-millon funding round in
december last year operates Ninjacart, has issued 20,442 Series-C compulsorily
convertible preference shares at Rs 30414278 share, according to filings submitted by
NinjaCart to the Registrar of Companies, and which have been accessed by business
signals provider paper.vc. It has also issued 100 equity shares having a face value of
Rs 100.in conversation with Ranjan General Manager MSME Union Bank
"NinjaCart's latest financing round gives it a post-money valuation of$321.8 million,
an almost four-fold increase from its Series-B valuation of $89.5 million, Vivek
Durai, cofounder of paper.vc, said After L8FS crisis, SIDBI says will continue to
support good NEWs Will India Thrive in the Fourth Industrial Revolution? The
investment signals Tiger Global's renewed focus on Asia's third-largest economy and
comes after NinjaCart closed a $35- million funding round in December last year. For
Tiger Global, the investment in Ninja Cart is its second in the Indian start up
ecosystem this month.

34 | P a g e
Investement stages

Announced date 7/03/2016

Transaction name Series A Ninjacart
Money raised $3M

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Announced date 11/04/2017
Transaction name Series A Ninjacart
Money raised $5.7M

Announced date 5/03/2018

Transaction name Debt financing Ninjacart
Money raised $1.1M

Transaction name Series A Ninjacart

Announced date 30/07/2018
Money raised $4.9M

Announced date 12/12/2018

Transaction name Series B Ninjacart
Money raised $2.5B

Announced date 24/04/2019

Transaction name Series C Ninjacart
Money raised $90M

Announced date 21/06/2019

Transaction name Series C Ninjacart
Money raised $10M

Announced date 18/07/2019

Transaction name Series C Ninjacart
Money raised $30M

Ninjacart was started on 'angel investement' on the early stage, by watching the
improvement in the business the investors started concentrating on the company, by
watching it regularly earning the profits then investors started to invest according to
their requirements.

36 | P a g e
 2.7 ACHIEVEMENTS/AWARDS

 Ninjacart has achieved it's predetermined target as increasing the number of

tonnage of fruits and vegetables per day.
 It is also recognised as the fastest start up company to own more than 4000+
employees.
 First start up in India to start it’s business in 7 cities within 4 years.
 Benefited more than 12000+ farmers and guided them the effective way to use
the resources.
 Recognised as the start up of 2019 in Economic Times award.

2.8 FUTURE GROWTH AND PROSPECTUS :

 Ninjacart main aim is to increase its distribution centres throughout India.

 Increase the tonnage of the produce to 500 tones per day in Bangalore.
 Be in number one position for fruits and vegetables supply.
 Increase the investement to developed the branches.
 Planning a separate department in the company to supply for the final
consumers to cut off the retailers.

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38 | P a g e
 CHAPTER-3
MCKENSY’S 7S MODEL
PORTERS FOVE FORCE MODEL

39 | P a g e
 3. Mckensy’s 7s Model

STRUCTURE :

Structure is similar to the skeleton to the entire association. The formal relation
among different positions and exercises. The organisation structure at Ninjacart is
decentralised and authorisation of power and responsibilities is assigned to various
department head such as HR, Quality check, Quality assurance, Logistics owners, etc

The supporters to head of the department are assigned the job of aiding the heads, they
are call Assistant manager, Assistant store manager, Executive personal, Executive
manager.

40 | P a g e
Particular roles and responsibilities are divided to different executives according to
their designation and the controlling power will increase towards top level
management. When each and every individuall perform their work accordingly there
would be no errors and results in smooth flow of the organisational works

STRATEGIES :

Strategies refers to set of actions that company starts with and must maintained. It
includes integrated vision and direction of the company in which it desires,
communicating and builds a relationship with implementation of vision and direction.
The major functions involved in SCM are the procurement of raw materials, product
development, marketing, operations, distribution, finance, and customer services.
Customers are an integral part of SCM.

Strategies and designing of the supply chain include:

 Deciding on the supply chain structure and the activities each stage of the
supply chain will perform
 Selecting a location and capacities of facility
 Deciding on the products that are to be made and the location where they need
to be stored
 Choosing the modes of transportation and the source from where the
information is to be collected

SKILLS :

The mainly involved skills in these type of supply chain management of B2B
business are

 Selling and communication skills

 Negotiation skills
 Active listening skills
 Presentation and demonstration skills

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  Team work
 Decision making
 Problem solving technique
 Research skill
 Social selling skill

STAFF :

Beginning together is about working together as a team. By keeping our eyes and ears
firmly on the objective, and focusing on that, we can hope to become a spinning
together organisation, and shape a better future.

People power is what makes Ninjacart a winning company, Ninjacart management

team is experienced people – centred and responsible to its client, follows a strict code
of business ethics and it is focused on taking the company to greater heights.

As a company Ninjacart is committing to being the employer of choice by inspiring,

nurturing and empowering it’s people and ensuring that every employee's leadership
qualities are fillet developed.

SYSTEM :

With the challenge in mind Ninjacart have fully conditioned logistic system.
Warehouse where the farmers products are safely secure in the required type of
vehicles and warehouses to keep the products fresh as long as possible, but the
products once received from the farmers will be delivered within 24 hours, this shows
about the commitment and perfect planning involved in the supply management

The system involves some important concepts

 Real time inventory visibility

 Advanced inventory and order fulfillment for distributor
 Complete procure to pay purchasing
 One system for your entire company

SHARED VALUES :
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The employees in the the organisation are very supportive discuss
clearly about the problems, not letting misunderstanding between
themselves ruin the relationship, share their knowledge to the people,
celebrate the special moments together, I was involved in 99% perfect
delivery of the week it was celebrated by sharing the cake with our
department

43 | P a g e
Porters Five Force Model :

 Competitive Rivalry. This looks at the number and strength of your

competitors. How many rivals do you have? Who are they, and how does the
quality of their products and services compare with yours?
Where rivalry is intense, companies can attract customers with aggressive price
cuts and high-impact marketing campaigns. Also, in markets with lots of rivals,

44 | P a g e
 your suppliers and buyers can go elsewhere if they feel that they're not getting a
good deal from you.

On the other hand, where competitive rivalry is minimal, and no one else is doing
what you do, then you'll likely have tremendous strength and healthy profits.

 Supplier Power. This is determined by how easy it is for your suppliers to

increase their prices. How many potential suppliers do you have? How unique is
the product or service that they provide, and how expensive would it be to switch
from one supplier to another?
The more you have to choose from, the easier it will be to switch to a cheaper
alternative. But the fewer suppliers there are, and the more you need their help, the
stronger their position and their ability to charge you more. That can impact your
profit.

 Buyer Power. Here, you ask yourself how easy it is for buyers to drive your
prices down. How many buyers are there, and how big are their orders? How
much would it cost them to switch from your products and services to those of a
rival? Are your buyers strong enough to dictate terms to you?
When you deal with only a few savvy customers, they have more power, but your
power increases if you have many customers.

 Threat of Substitution. This refers to the likelihood of your customers

finding a different way of doing what you do. A substitution that is easy and cheap
to make can weaken your position and threaten your profitability.

 Threat of New Entry. Your position can be affected by people's ability to

enter your market. So, think about how easily this could be done. How easy is it to
get a foothold in your industry or market? How much would it cost, and how
tightly is your sector regulated?
If it takes little money and effort to enter your market and compete effectively, or
if you have little protection for your key technologies, then rivals can quickly enter
your market and weaken your position. If you have strong and durable barriers to
entry, then you can preserve a favourable position and take fair advantage of it.

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 CHAPTER-4
SWOT ANALYSIS

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 4. SWOT ANALYSIS

STRENGTHS WEAKNESSES

SWOT

OPPORTUNITIES THREATS

STRENGTHS:

 2000 + workers ensures fair work process,

 Large pool of highly trained man power,

 Updating according to technology,

 Proper utilisation of technology,

 Strong marketing and distribution network,

 Good relationship between logistics and farmers,

 Availability of fresh products,

 Never ending concepts,

 On time delivery executives,

 We’ll build financial structure.

47 | P a g e
WEAKNESSES :

 Highly fragmented industry,

 High logistic cost,

 Raise in cost of petrol/diesel,

 Lack of experienced sales executive,

 Location issues,

 Maintenance of storage units.

OPPORTUNITIES :

 Large availability of food materials from farmers,

 Low cost labours,

 Low cost technology,

 Low cost training facility,

 No strict government rules,

 Increase in concern of customers to fruits and vegetables,

 Never ending market.

THREATS :

 Rising cost of raw materials,

 New and existing companies,

 Focus on certain cities,

 High promotional cost,

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 CHAPTER-5
ANALYSIS OF FINANCIAL STATEMENTS

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 ANALYSIS OF FINANCIAL STATEMENT
Balance Sheet of Ninjacart Pvt. Ltd. as on 2016,17,18 (Rs in Crores)
Particulars Mar’18 Mar’17 Mar’16
Liabilities 12 Months 12 Months 12 Months
Share capital 89.64 89.42 89.35

Reserve & Surplus 3012.97 3143.10 3046.06

Net Worth 3162.02 3232.53 3135.41

Secured loans 604.04 1416.89 1425.11
Unsecured loans 00 00 00
Total liabilities 3766.05 4649.42 4560.52
Assets
Gross block 613.12 1289.16 1653.85

(-)Acc. Depreciation 155.16 165.40 595.02

Net block 497.96 1123.76 1085.86

Cap. Work in progress 209.85 227.82 180.09
Investment 1776.67 2520.24 2366.87
Inventories 296.63 409.59 379.23

Sundry debtors 449.37 540.68 702.29

Cash & Bank 79.79 94.92 94.34

Loan & Advances 1001.84 564.28 582.34
Total current Assets 1800.68 1609.41 1758.21
Current Liabilities 478.95 783.36 741.96
Provision 40.16 48.46 62.01
Total Current Liabilities 519.11 831.82 803.47

Net Current Assets 1281.57 777.60 954.74

Miscellaneous Exp. 00 00 00
Total Assets 3766.05 4649.42 4560.52
(A+B+C+D)

50 | P a g e
 Profit & loss Account – Ninjacart Pvt. Ltd.
For the year ending 2016,17,18

Particular Mar’18 Mar’17 Mar’16

12 Months 12 Months 12 Months
INCOME
Sales turnover 1469.61 1381.82 2261.28
Excise duty 00 00 57.79
NET SALES 1469.61 1381.82 2203.49
Other income 156.1790 169.0550 140.9610
Total income 1625.81 1550.87 2344.45
EXPENDITURE
Manufacturing Exp. 33.08 25.82 74.70
Material Exp. consumed 826.05 776.33 1254.72
Personal Exp. 224.53 228.48 274.97
Selling Exp. 00 00 15.16
Administrative Exp. 185.85 180.47 301.88
Expenses capitalized 00 00 00
Provision Made 00 00 00
Total Expenditure 1272.52 1211.10 1921.43
Operating Profit 197.09 170.72 282.06
EBITDA 353.29 339.77 423.02
Depreciation 77.81 70.01 105.85
Other write-off 00 00 00
EBIT 215.48 269.77 317.17
Interest 81.97 71.96 102.71
EBT 193.51 197.81 214.46
Taxes 705.76 -58.56 -25.18
Profit & loss for the Yr 185.83 167.09 186.25
Non-recurring items -705.76 -58.56 -25.18
Other Non-Cash 00 00 00
Adjustment
Reported PAT 897.59 108.54 161.07
KEY ITEMS
Preference dividend 00 00 00
Equity dividend 47.82 43.23 33.58
Equity dividend (%) 53.43 48.33 374.57
Share in isuue (Lakhs) 895.00 894.23 893.46
EPS-Annualized (Rs) 99.62 12.14 18.03

51 | P a g e
RATIO ANALYSIS
 CURRENT RATIO
Current ratio = Current Assets / Current liabilities
Current Ratio is defined as the link between current assets and current
liabilities. It is also called as working capital ratio, generally it helps to
measure liquidity and it is widely used to make the analysis of a short term
financial position or liquidity of a firm .

TABLE 5.1 CURRENT RATIO

Years Current assets Current Current ratio
liabilities

2018 1800.68 478.95 3.759

2017 1609.41 783.36 2.054
2016 1758.21 741.96 2.369

Chart No 5.1 Current Ratio

3.5

2.5
Axis Title

1.5

0.5

0
2018 2017 2016
Current ratio 3.759 2.054 2.369

52 | P a g e
INTERPRETATION: There is continuous fluctuation in the current ratio, in the
year 2018 the highest value is 3.759 times which is decreased in 2017 to 2.054 times
and further increased and the value in the year 2016 is 2.369 times. It shows that the
current assets are fluctuated in the period 2018-2016. Hence , it does not match with
set standard.

 QUICK RATIO
Quick ratio = Quick Assets / Current liabilities
Quick assets = Current assets – (Stock + prepaid expenses)
It might be characterized as the relationship between quick/liquid assets
resources and current liabilities. It is also called as financial ratio which helps
to calculate company liquidity position. And it may also as acid test ratio.

TABLE 5.2 QUICK RATIO

Years Quick asset Current liabilities Quick ratio

2018 1504.05 478.95 3.140

2017 1199.88 783.36 1.531
2016 1378.98 741.96 1.858

Chart NO 5.2 Quick Ratio

3.5

2.5
Axis Title

1.5

0.5

0
2018 2017 2016
Quick Ratio 3.14 1.531 1.858

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INTERPRETATION:
There is a variation in the quick ratio, in the year 2018 the quick ratio is 3.14 times
which is decreased in 2017 to 1.531 times and further increased and the value at the
year 2016 is 1.858 . It shows that quick assets are continuously fluctuated in the
period 2018-2016. The standard ratio does not match with set of standard.

 TOTAL ASSETS TURNOVER RATIO

Total asset turnover ratio = Net Assets / Total Assets

The asset turnover ratio is an efficiency ratio that measures a company’s

ability to generate sales from its assets by comparing net sales with average
total assets. This ratio shows how efficiently a company can use its assets to
generate sales.

TABLE 5.3 TOTAL ASSETS TURNOVER RATIO

Years Net Sales Total assets Total assets turnover
ratio
2018 1469.61 3766.05 0.390
2017 1381.82 4649.42 0.297
2016 2203.49 4560.52 0483

54 | P a g e
 Chart No 5.3 Total Assets Turnover ratio

0.5
0.45
0.4
0.35
0.3
0.25
0.2
0.15
0.1
0.05
0
2018 2017 2016
Total assets turnover ratio 0.39 0.297 0.483

INTERPRETATION:
There is changes in total assets turnover ratio , in the year 2015 the total assets
turnover ratio is 0.515 times which is decreased in 2016 i.e. 0.483 times and further
decreased in the year 2017 is 0.297 times and further increased in the year 2018 is
0.390 times. It shows that the total assets are fluctuated in the period 2018-2015. The
standard total assets turnover ratio does not match with set standard

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  FIXED ASSETS TO NET WORTH RATIO
Fixed assets to net worth ratio = Fixed Assets
Net worth
Fixed assets to net worth is a ratio measuring the solvency of a company. This
ratio indicates the extent to which the owner’s cash is frozen in the form of
fixed assets, such as property, plant and equipment and the extent to which
funds are available for the company’s operation (i.e. for working capital)

TABLE 5.4 FIXED ASSETS TO NET WORTH RATIO

Years Fixed assets Net worth Fixed assets to Net
worth ratio
2018 497.96 3162.02 0.157
2017 1123.76 3232.53 0.347
2016 1058.83 3135.41 0.337

Chart No 5.4 Fixed Assets To Networth Ratio

0.35

0.3

0.25

0.2

0.15

0.1

0.05

0
2018 2017 2016 2015
Fixed Assets to Net worth ratio 0.157 0.347 0.337

INTERPRETATION:

There is changes in the fixed assets to net worth ratio, in the year 2018 the fixed assets
to net worth ratio is 0.157 times which is increased in 2017 is 0.347 times and further
decreased and the value at the year 2016 is 0.337 times. It shows that the fixed assets
are fluctuated in the period 2018-2016. The set standard of fixed assets is not
satisfactory.

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  CURRENT ASSETS TO NET WORTH RAITO
Current assets to net worth ratio = Current Assets
Net worth
It is the ratio between current assets and net worth of an organization.
Generally, it is interpreted as more the ratio more will be the solvency.
And as such there is no idle or standard Current assets to net worth ratio.

TABLE 505 CURRENT ASSETS TO NET WORTH RATIO

Years Current assets Net worth Current assets to
Net worth ratio
2018 1800.68 3162.02 0.508
2017 1609.41 3232.53 0.497
2016 1758.21 3135.41 0.560

Chart No 5.5 Current Assets Networth Ratio

0.56
0.55
0.54
0.53
0.52
0.51
0.5
0.49
0.48
0.47
0.46
201 201 201 201
8 7 6 5
Current assets Networth ratio 0.508 0.497 0.56

INTERPRETATION:

There is fluctuation in the current assets to net worth ratio in the year 2018 the current
assets to net worth ratio is 0.508 times which is decreased in the year 2017 is 0.497
times and further increased and the value at the year 2016 is 0.560 time. It show the
current assets are fluctuated in the period 2018-2016

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  FIXED ASSETS TURNOVER RATIO
Fixed assets turnover ratio = Net sales
Fixed Assets
The fixed assets turnover ratio is an efficiency ratio that measures a
company’s returns on their investment in property, plant and equipment by
comparing net sales with fixed assets. It calculates how eddciently a company
is producing sales with its machines and equipment.

TABLE 5.6 FIXED ASSETS TURNOVER RATIO

Years Net assets Fixed assets Fixed assets turnover
ratio
2018 1469.61 497.96 2.951
2017 1381.32 1123.76 1.229
2016 2203.49 1058.83 2.081

Chart No 5.6 Fixed Assets Turnover ratio

2.5

1.5

0.5

0
2018 2017 2016
Fixed Assets Turnover ratio 2.951 1.229 2.081

INTERPRETATION:

There is fluctuation in the fixed assets turnover ratio, in the year 218 the fixed assets
turnover ratio is 2.951 times which is decreased in 2017 i.e. 1.229 times and further
increased and the value at the year 2016 is 2.081 times. It shows that the fixed assets

58 | P a g e
are fluctuated in the period 2018-2016. The standard fixed asset turnover ratio does
not match with set standard.

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  CURRENT ASSETS TURNOVER RATIO
Current asset turnover ratio = Net sales
Current Assets
Current assets turnover ratio shows the relationship between net sales and
current assets. We divide the net sales with current assets.

TABLE 5.7 CURRENT ASSETS TURNOVER RATIO

Years Net sales Current assets Current asset
turnover ratio

2018 1469.61 1800.68 0.816

2017 1381.82 1609.41 0.858
2016 2203.49 1758.21 1.253

Chart No 5.7 Current Assets Turnover Ratio

1.4

1.2

0.8

0.6

0.4

0.2

0
2018 2017 2016
Current Assets Turnover Ratio 0.816 0.585 1.253

INTERPRETATION:
There is fluctuation in the current assets turnover ratio, in the year 2018 the current
assets turnover ratio is 0.816 times which is decreased in 2017 i.e. 0.585 times and
further increased and the value at the year 2016 is 1.253 times. It shows that the
current assets are fluctuated in the period 2018-2016. Higher ratio higher the
efficiency.

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  PROPRIETARY RATIO
Proprietary ratio = Shareholders Fund
Total Assets
The proprietary ratio ( also known as net worth ratio or equity ratio) is used to
evaluate the soundness of the capital structure of a company. It is computed by
dividing the stockholder’s equity by total assets.

TABLE 5.8 PROPRIETARY RATIO

Years Shareholders fund Total Assets Proprietary ratio
2018 3162.02 3766.05 0.839
2017 3232.53 4649.42 0.695
2016 3135.41 4560.52 0.687

Chart No 5.8 Proprietary Ratio

0.9

0.8

0.7

0.6
Axis Title

0.5

0.4

0.3

0.2

0.1

0
2018 2017 2016
Proprietary Ratio 0.839 0.695 0.687

INTERPRETATION:

There is fluctuation in the proprietary ratio, in the year 2018 the proprietary ratio is
0.839 times which is decreased in 2017 and 2016 is 0.695 to 0.687 times. It shows
that shareholders fund is fluctuated in the year 2018-2016.

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  NET PROFIT RATIO
Net Profit ratio = Net Profit___________________ * 100
Revenue from operation(Net sales)
Gross profit ratio indicates the trading results of an organization. This indeed
does not reflect the overall profitability position of an organization. Hence net
profit ratio is essentially required in decision making. Net profit ratio is ratio
between net profit and revenue from operations of an organization.

TABLE 5.8 NET PROFIT RATIO

Years Net profit Revenue from Net profit ratio
operations (Net sales)
2018 185.83 1469.61 12.644
2017 167.09 1381.82 12.092
2016 186.25 2203.49 8.452

Chart No 5.9 Net Profit Raito

14

12

10

0
2018 2017 2016 2015
Chart No 5.8 Net Profit Raito 12.644 12.092 8.452

INTERPRETATION:

The above table shows th at,in the year 2016 it has recovered the losses i.e. 8.452. In
the year 2017 the value is increased to 12.092 compare to previous. And in the year
2018 the value is increased to 12.644 compare to previous years, currently the
company is recovering towards profit.

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63 | P a g e
 CHAPTER-6
LEARNING EXPERIENCE

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 6. LEARNING EXPERIENCE.
During my work experience at Ninjacart. I was fortunate enough to
have experienced and learner, many different sides of what goes into a project, the
general process of how department at different levels works, developed and
completed; as well as how much and detail goes into every stage of it, another
valuable lesson I have learner during these 4 weeks, were the many different types of
works an individual has to perform, which in turn, have provided me with more
insights into the different types of roles and responsibilities that I could perform, as an
MBA

Reflecting back to me first day at Ninjacart, it was one of the most memorable days of
my time at work, after being introduced to everyone, I was handed an act of
observation to look into, they were very open and happy for me to contribute as much
as I wanted to, and were open to any suggestions and ideas. This instinctively made
me comfortable and definitely made me feel as though I am happy to say that, I was
the part team at NinjaCart.

Through my learning at the organisation I have been exposed to corporate culture and
have gained insights into the working environment, that gave me opportunity to
develop with well-versed relationship building with the personnel.

Overall, my experience at Ninjacart was positive. I was very happy with the amount
of things that I have learner and experienced in the 4 weeks of being a student learner
with the company. I believe that visvesvaraya technological University should keep
this aspect of MBA course as it does provide students with the experience needed in
order to find a job later on(even if the experience is over a short amount of time).
Also, Irfan be beneficial as it could lead to a more permanent position, which is what
happened with me. I ended up learning a lot more than I thought I would be able to in
the time span. The training has exposed me to many facts of an organisation and also
helped me to gain practical knowledge, which will go a long way in the horizon of my
career.

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BIBLOGRAPHY

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BIBLOGRAPHY
 FUNDAMENTALS OF ACCOUNTING - R NARAYAN SWAMY

A managerial perspective, PHI publications, 5th Edition

 ESSENTIALS OF MANAGEMENT – HAROLD KOONTZ

MC Graw Hill Publication, 9th Edition.

 ACCOUNTING FOR MANAGER – J MADEGOWDA.

Himalaya Publication House, 3rd Edition.

WEB RESOURCES

 http://ninjacart.in/
 https://in.linkedin.com/company/ninja-cart
 https://www.google.com/search?client=tablet-
unknown&bih=1280&biw=800&hl=en-
GB&ei=Hw5gXdOhEqLhz7sPppWAuAw&q=ninjacart+crunc
hbase&oq=ninjacart+crunchbase&gs_l=mobile-gws-wiz-
serp.3..0.30132.36966..38130...0.1..0.387.3143.0j17j1j1......0....1...
......0i71j41j0i13j0i8i13i30j33i160j0i22i30.btf74JSIr1M
 https://www.livemint.com/companies/start-ups/tiger-global-
invests-89-million-in-agri-tech-startup-ninjacart-
1556081885847.html
 https://pitchbook.com/profiles/company/155071-09
COMPANY SOURCES
 Prospectus.
 Company Magazine.
 Company Journals.
 Annual Reports.

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