PROFESSIONAL TRAINING

AT

MARAICA INDUSTRIES

Submitted in partial fulfillment of the requirements for the award of

Bachelor of Commerce

By
SYED MEERAN.A

(39740241)

DEPARTMENT OF BUSINESS ADMINISTRATION

SCHOOL OF MANAGEMENT STUDIES

SATHYABAMA
INSTITUTE OF SCIENCE AND TECHNOLOGY

(DEEMED TO BE UNIVERSITY)
Accredited with GrAde “A” by NAAc
JEPPIAAR NAGAR, RAJIV GANDHI SALAI, CHENNAI - 600 119

NOVEMBER 2021
i
 SATHYABAMA
INSTITUTE OF SCIENCE AND TECHNOLOGY (DEEMED TO
BE UNIVERSITY) Accredited with “A” grade by NAAC Jeppiaar
Nagar, Rajiv Gandhi Salai, Chennai – 600 119 www.sathyabama.ac.in

DEPARTMENT OF BUSINESS ADMINISTRATION

BONAFIDE CERTIFICATE

This is to certify that this Professional Training Report is the bonafide work of SYED MEERAN A
(39740241) who carried out the Professional Training at “MARAICA INDUSTRIES ” under our
supervision for a period of 30 days from 1st June 2021 to 30th June 2021.

Ms.M.SUDHA PAULIN.,MBA S.THAMIM ANSARI.,BE

Internal guide External Guide

(Dr. BHUVANESWARI .G, MBA., Ph.D)

Dean – School of Management Studies

Submitted for Viva voce Examination held on_____________________ Internal Examiner

External Examiner

ii
 DECLARATION

I SYED MEERAN.A (39740241) hereby declare that the Professional Training done
by me under the guidance of Ms.SUDHA PAULIN.,MBA (Internal) and S.THAMIM
ANSARI.,BE (External) at MARAICA INDUSTRIES is submitted in partial fulfillment
of the requirements for the award of Bachelor of Commerce.

DATE:24.10.2021 PLACE:CHENNAI

SIGNATURE OF THE CANDIDATE

iii
 ACKNOWLEDGEMENT

I am pleased to acknowledge my sincere thanks to Board of Management of SATHYABAMA

for their kind encouragement in doing this project and for completing it successfully. I am
grateful to them.

I convey my thanks to Dr. G. Bhuvaneswari, MBA., Ph.D., Dean - School of

Management Studies and Dr. A. Palani, M.Com., M.Phil., M.B.A., Ph.D., Head of
the Department, Dept. of Business Administration for providing me necessary
support and details at the right time during the progressive reviews.

I would like to express my sincere and deep sense of gratitude to my Professional

Training Guide Ms. M.Sudha Paulin.,MBA for her valuable guidance, suggestions
and constant encouragement paved way for the successful completion of my
project work.

I wish to express my thanks to all Teaching and Non-teaching staff members of

the Department of Business Administration who were helpful in many ways for
the completion of the training.

SYED MEERAN.A

iv
 ABSTRACT

The study is undergone at MARAICA INDUSTRIES, Chennai. The Industrial training

which focuses on imparting knowledge and practical exposure in the different
areas of an organization. It enhances the knowledge of the student, which can be
practically applied in further course of action. It is an extraordinary opportunity to
experience partial industrial environment, work discipline, team work, time
management, quality controlling and to obtain a clear understanding of the
theoretical knowledge from the company. From this study it has been observed
that the HR, Production, Marketing and Finance department of Industrial Spares
Manufacturing & trading Company aims to increase productivity and to play right
person in right job, through proper channel of recruitment and training an
employee. This I have practically experienced from this industrial training company

v
 TABLE OF CONTENTS
CHAPTER NO. TITLE PAGE NO.

ABSTRACT I

LIST OF TABLES II

LIST OF FIGURES III

INTRODUCTION
1
1.1 Describes the Training in general 1

1.2 Objectives 2

1.3 Scope 2

1.4 Duration 2

1.5 Importance 2

1.6 Benefits derived from training 3

2 PROFILE OF THE STUDY

2.1 Industry profile 5

2.2 Company profile 7

2.3 Product profile 9

vi
 3 ORGANISATION STRUCTURE
3.1 Organisation Structure
10
4 OVERVIEW OF VARIOUS DEPARTMENTS

4.1 Production Department 11

4.2 Human Resource Department 12

4.3 Marketing Department 17

4.4 Finance Department 23

5 Conclusion 28

LIST OF FIGURES

FIGURE NO. PARTICULARS PAGE NO.

2.1 Company Logo 5

2.2 Metal Press 7

2.3 Sheet Metal 7

2.4 Lathe 8

2.5 Welding 9

vii
viii
 CHAPTER 1

INTRODUCTION

1.1 INDUSTRIAL TRAINING

Industrial training gives an insight into the organization and its approaches to deal
with a problem. It is aimed at imparting the required skill set, information to improve
the candidates' performance or to encourage him/her to meet their career goals.

The most amazing internship experiences are those that prepare students for the
work they hope to do after graduating from college. Employers seek employees who
have the experience required starting out in a new field. Employers also welcome
new employees who have already had exposure to the field and understand the type
of work they will be doing once they are hired.

Employers spend a great deal of time and money on training their new employees
and they know that they can eliminate a lot of this time by hiring someone with
previous knowledge and Experience.

Although most interns would prefer to get paid, the fact that an internship is paid
does not always qualify it as a good internship. There are many amazing unpaid
internships in the non-profit world that provide great experience and exposure to the
field.

Internships that provide opportunities to meet a large number of professionals

currently working in the field are those experiences that give students the chance to
make important professional connections that can last a lifetime.

1
1.2 OBJECTIVES OF THE TRAINING

To apply the industrial knowledge taught in the lecture rooms in real industrial
situations. To understand about the overall functions of the company. To use the
experience gained from the ‘Industrial Training’ in discussions held in the lecture
rooms. To study the activities of various departments. To have a practical
experience.

1.3 SCOPE OF THE TRAINING

To gain experience in writing reports in industrial works / projects and to expose
students to the industrial responsibilities and ethics. With all the experience and
knowledge acquired, it is hoped at the students will be able to choose appropriate
work upon graduation.

1.4 DURATION
The report is prepared by studying the overall picture of the company in whole. The
duration of the internship training is 1 month which provided me enough time to collect
information for the report.

1.5 IMPORTANCE OF INTERNSHIP

Internship leads to the intern’s individual development through Challenging
occupational coursework. It is designed & planned through consultation with the
college or University so as to fit into undergraduate practice.

Internship is a process of training by which intern can develop future Job

performance. Internship also help students to improve their personal attributes such
as better oral & written communication, management, direction, time & project
management skills.

Internship provides first hand learning experience to intern & acquire more
knowledge of the job & learn or sharpen the needed skills. Internship is practical
training programmed related to specific field which interns wants to acquire skills &
experience in their selected field.

2
Internship helps interns to gain self-confidence, good work experience, career
development, skill development, personal development.

1.5 BENEFITS OF INTERNSHIPS

1.5.1 GAIN VALUABLE WORK EXPERIENCE
The hands-on work experience interns receive is invaluable and cannot be obtained
in a classroom setting, making this one of the most important benefits of internships.
Interns have the opportunity to apply acquired knowledge to real work experiences,
witnessing first and the day-to-day job duties they can expect to encounter in their
chosen field. In addition to learning the specialized skills of a particular field,
transferable skills such as communication, teamwork, and computer proficiency are
also obtained in an internship, fully preparing interns to enter the workforce upon
graduation.

1.5.2. EXPLORE A CAREER PATH

Exploring is an important part of the college experience, and internships are a great
way for students to acquaint themselves with the field they are interested in. Some
students begin college with a major or career path in mind, and end up changing
their minds later on. Taking on an internship while in college allows students to work
in their desired field, helping them decide if the field is right for them. By graduation,
students who interned are more likely to feel confident they chose the right degree.

1.5.3. GIVE YOURSELF AN EDGE IN THE JOB MARKET

One of the most important internship benefits is that college graduates who already
have some work experience in the form of an internship stand out to potential
employers. Internship experience makes a college grad more marketable as they
usually require less training and can handle more responsibilities. You may also
receive a higher starting salary than those who do not have internship experience
and are entering the workforce or starting a new career.

1.5.4. DEVELOP AND REFINE SKILLS

You can learn a lot about your strengths and weaknesses during an internship.
Internships allow for feedback from supervisors and others who are established in
the field, and offer a unique learning opportunity that you may not have again as a
working adult. Embrace the mistakes you make as an intern and the many things

3
that you won’t know. Ask questions, observe, and take risks to get the most out of
your internship training experience.

1.5.5. RECEIVE FINANCIAL COMPENSATION

Many internships are paid which means you can gain valuable work experience and
make money at the same time. A paid internship will provide money to fund your
college tuition and expenses.

1.5.6. NETWORK WITH PROFESSIONALS IN THE FIELD

In the working world, it’s all about who you know. As an intern, you will be surrounded
by professionals in the industry. Internships are more than just about earning credit,
getting a grade, or making money; internships provide an opportunity to learn from
the people around you, ask questions, and impress. The professionals you encounter
during an internship can be your future colleagues or the connection to your first job.

1.5.7. GAIN CONFIDENCE

Internships allow you to test out specific techniques learned in the classroom before
entering the working world. It’s an opportunity to apply what you have learned in a
safe environment where mistakes are expected – rather than learn the hard way in
your first job out of college.

1.5.8. TRANSITION INTO A JOB

Many companies use internships as a way to enhance their recruitment efforts. In
some cases, a company may decide to hire an intern at the end of the assignment.
Even if a job offer doesn’t happen right away, an intern who makes a favorable
impression could receive an offer down the line when an opening occurs. It’s a way
for companies to test out an employee before committing to hiring them.

4
 CHAPTER 2
STUDY OF INDUSTRIAL PROFILE

2.1 INDUSTRY PROFILE

2.1.1 PRESS TOOL
• A forming press, commonly shortened to press, is a machine tool that
changes the shape of a work-piece by the application of pressure.
• The operator of a forming press is known as a press-tool setter, often
shortened to toolsetter.
• Presses can be classified according to,
• Their mechanism: hydraulic, mechanical, pneumatic;
• Their function: forging presses, stamping presses, press brakes, punch press,
etc.

2.1.2 SHEET METAL

Sheet metal is metal formed by an industrial process into thin, flat pieces. Sheet metal is
one of the fundamental forms used in metalworking, and it can be cut and bent into a
variety of shapes. Countless everyday objects are fabricated from sheet metal.
Thickness can vary significantly; extremely thin sheets are considered foil or leaf and
pieces thicker than 6mm (0.25 in) are considered plate steel or “structural steel”.

2.2 COMPANY PROFILE

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FIG: 2. 1 COMPANY LOGO

We are an engineering company, catering exclusively to the Indian Defense sector.

We have had long association with defense equipment development agencies for a
variety of product development and supplies. We would like to humbly submit a brief
profile of our company for your perusal.

2.2.1 ABOUT MARAICA INDUSTRIES

“MARAICA INDUSTRIES” established in the year 1955 at Kolkata, West Bengal. We

“Maraica Industries” is a partnership based firm, engaged as the foremost manufacturer
and wholesaler of circuit board, PCB Board and LED Driver Board. Our Product are high
in demand due to their premium quality and affordable price. Further more, We ensure
to timely deliver these products to our clients, through this we have gained a huge clients
base in the market.

2.2.2 WHAT WE OFFER

We offer services to meet the diverse requirements of our clients with special
emphasis on quality, timelines and cost effectiveness with the focus on offering the
best in class service to the clients. Our varied and experienced work force ensures
that the project management and execution, works towards achieving the goals of
the client, with strict compliance to quality, timeliness and cost budgets.

2.2.3 OUR TEAM

We have a pool of well-qualified professionals with specialization in different

domains. The company offers end-to-end solutions starting with the Tender

6
Evaluation, Technical Design, Value Added Analysis, Planning and Quality Control
with timely execution.

2.2.4 ORGANISATIONAL KNOWLEDGE

Maraica Industries has determine the knowledge necessary for the operation of its
processes and to achieve conformity of products and services.
This knowledge is to be maintained and be made available to the extent necessary.
When addressing changing needs and trends, the organization shall consider its
current knowledge and determine how to acquire or access any necessary additional
knowledge and required updates in respective product brochure, Product catalogue,
Website etc.,

The Internal sources like; knowledge gained from experience; lessons learned from
failures and successful projects; capturing and sharing undocumented knowledge
and experience

The external sources like: standards; academia; conferences; gathering knowledge

from customers or external providers

2.3 PRODUCT PROFILE

FIG 2.2 METAL PRESS

A Metal Press, commonly shortened to press, is a machine tool that changes the
shape of a work-piece by the application of pressure. The operator of a metal press
is known as press-tool setter, often shortened to tool-setter.

7
FIG 2.3 SHEET METAL
Sheet Metal is metal formed by an industrial process into thin, flat pieces.

Sheet metal is one of the fundamental forms used in metal working.

FIG 2.4 LATHE

✔ A metal working lathe from 1911, showing component parts:
a. Bed
b. Carriage
c. Head stock
d. Back gear
e. Cone pulley for a belt drive from an external power source
f. Faceplate mounted on spindle
g. Tailstock
h. Lead screw
✔ A lathe is a machine tool that rotates a workpiece about an axis of rotation to perform
various operation such as cutting, sanding, knurling, drilling, deformation, facing, and
turning, with tools that are applied to the workpiece to create an object with symmetry
about that axis.

8
✔ Lathe are used in woodturning, metalworking, metal spinning, thermal spraying, parts
reclamation, and glass-working. Lathes can be used to shape pottery, the best-known
design being the Potter’s wheel. Most suitably equipped metalworking lathes can also
be used to produce most solids of revolution, plane surfaces and screw threads or
helices. Ornamental lathes can produce three-dimensional solids of incredible
complexity. The workpiece is usually held in place by either one or two centers, at
least one of which can typically be moved horizontally to accommodate varying
workpiece lengths. Other work-holding methods include clamping the work about the
axis of rotation using a chuck or collet ot yo a faceplate, using clamps or dog clutch.

FIG 2.5 WELDING

"During the 1920s, significant advances were made in welding technology, including
the introduction of automatic welding in 1920, in which electrode wire was fed
continuously. Shielding gas became a subject receiving much attention, as scientists
attempted to protect welds from the effects of oxygen and nitrogen in the
atmosphere. Porosity and brittleness were the primary problems, and the solutions
that developed included the use of hydrogen, argon, and helium as welding
atmospheres. During the following decade, further advances allowed for the welding
of reactive metals like aluminum and magnesium. This in conjunction with
developments in automatic welding, alternating current, and fluxes fed a major
expansion of arc welding during the 1930s and then during World War II. In 1930,
the first all-welded merchant vessel, M/S Carolinian, was launched."

9
 CHAPTER 3
ORGANISATION CHART

10
 CHAPTER 4

OVER VIEW OF VARIOUS DEPARTMENTS

4.1 PRODUCTION DEPARTMENT

4.1.1 OUR PRODUCTS AND SERVICES

Our competencies lie in utilizing our expert resources in offering customized services
from concept to completion. Our products include:

● Precision machined components

● Engineering system Press Tool

● High pressure on Lathe

4.1.2 REVIEW OF THE REQUIREMENTS FOR PRODUCTS

AND SERVICES

The Customer requirements both stated & implied are determined and reviewed
before acceptance. Statutory and regulatory requirements with respect to the
product and services are also considered when reviewing the customer
requirements, obtaining customer feedback relating to products and services,
including delivery and post delivery activities, contract or order differing from
previously expressed, customer complaints, handling or controlling customer
property, establishing specific requirements for contingency actions. And effective
communication is maintained to capture customer feedback including complaints
and necessary actions initiated. Customer related processes are carried out as per
Marketing flow chart.

11
4.1.3 CHANGES TO REQUIREMENTS FOR PRODUCTS AND
SERVICES

Maraica Industry has ensuring that relevant documented information is amended,

and that relevant persons are made aware of the changed requirements, when the
requirements for products and services are changed with in the quality management
system

4.1.4 DESIGN AND DEVELOPMENT OF PRODUCTS AND

SERVICES

Since the manufacturing / service process involved for producing the products /
service is not contains any design aspects. All the design details are provided by
customer itself. So, this clause is not applicable to the Quality Management System
of Maraica Industry.

4.2 HUMAN RESOURCES MANAGEMENT .

The Personnel of a Business or organization registered as significant asset in terms

of schemes and abilities. The Human resource activities are:
 Payroll
 Recruitment
 Employee Relations
 Training and Development
 Performance Management

4.2.1. HR POLICIES

Human resource policies are continuing guidelines on the approach an organization

intends to adopt in managing its people. They represent specific guidelines to HR
managers on various matters concerning employment and state the intent of the
organization on different aspects of human resource management such as
recruitment, promotion, compensation, training, selections etc. they therefore serve
as a reference point when human resources management practices are being
developed or when decisions are being made about an organisation’s workforce. A
good HR policy provides generalized guidance on the approach adopted by the
12
organization, and therefore its employees, concerning various aspects of
employment.

4.2.2. RECRUITMENT PROCEDURE

Recruitment Planning

The first step involved in the recruitment process is planning. Here, planning involves
to draft a comprehensive job specification for the vacant position, outlining its major
and minor responsibilities; the skills, experience and qualifications needed; grade
and level of pay; starting date; whether temporary or permanent; and mention of
special conditions, if any, attached to the job to be filled ”

Once it is known how many with what qualifications of candidates are required, the
next step involved in this regard is to devise a suitable strategy for recruiting the
candidates in the organization.

The strategic considerations to be considered may include issues like whether to

prepare the required candidates themselves or hire it from outside, what type of
recruitment method to be used, what geographical area be considered for searching
the candidates, which source of recruitment to be practiced, and what sequence of
activities to be followed in recruiting candidates in the organization.

4.2.3 TRAINING & DEVELOPMENT

Training is one of the important activities of human resource management. In the

training process companies try to motivate and train the employees in a manner so
that they can work more effectively in the future.

4.2.4 FUNCTIONS OF HRM:

Understanding & relating to employees as individuals, thus identifying individual

needs and career goals. Developing positive interactions between workers, to
ensure collated and constructive enterprise productivity and development of a
uniform organizational culture. Identify areas that suffer lack of knowledge and

13
insufficient training and accordingly provide remedial measures in the form of
workshops & seminars.

Innovative new operating practices to minimize risk & generate an overall sense of
belonging accountability. Recruiting the required workforce and making provisions
for expressed and promised payroll and benefits. Implementing resource strategies
to subsequently create and sustain competitive advantage .Empowerment of the
organization, to successfully meet strategic goals by managing staff effectively .The
human resource department also maintains an open demeanor to employee
grievances.

Employees are free to approach the human resource team for any query or any form
of on-the-job stress that is bothering them performance of employees is also actively
evaluated on a regular basis.

These are checks conducted by the HR to verify & thereby confirm the validity of the
employees’ actual performance matching the expected performance

4.2.5 IMPORTANCE OF HRM:

Human resource management is important to all managers despite their various functions
because of the following reasons-

● Hire the right person for the job

● Low attrition rate

● Ensure people do their best

● Time saved in not conducting useless interviews

● Avoid legal action for any discrimination

● Safety laws are not ignored

● Equity towards employee in relation to salary etc.

● Avoid unfair labor practices

4.2.6 LEADERSHIP
14
Maraica Industry management has demonstrating leadership and commitment with
respect to the quality management system by:
a) Taking accountability for the effectiveness of the quality management system.

b) Ensuring that the quality policy and quality objectives are established for the
quality management system and are compatible with the context and strategic
direction of the organization.
c) Ensuring the integration of the quality management system requirements into the
organization’s business processes.
d) Promoting the use of the process approach and risk-based thinking.

e) Ensuring that the resources needed for the quality management system are
available.
f) Communicating the importance of effective quality management and of
conforming to the quality management system requirements.
g) Ensuring that the quality management system achieves its intended results.

h) Engaging, directing and supporting persons to contribute to the effectiveness of

the quality management system.
i) Promoting improvement.

j) Supporting other relevant management roles to demonstrate their leadership as

it applies to their areas of responsibility.

4.2.7 PLANNING

ACTION TO ADDRESS RISKS AND OPPORTUNITIES

Maraica Industry has considering when planning for the quality management system,
and issues referred the risks and opportunities that need to be addressed in the risk
assessment and control document for all processes:

a) Give assurance that the quality management system can achieve its intended
result(s); Ref: Risk and Opportunities including SWOT analysis.

b) enhance desirable effect

15
c) prevent, or reduce, undesired effects
d) achieve improvement
4.2.8 QUALITY OBJECTIVES AND PLANNING TO ACHIEVE
THEM

Maraica Industry has establishing quality objectives at relevant functions, levels and
processes needed for the quality management system.
The quality objectives shall:

a) be consistent with the quality policy

b) be measurable

c) take into account applicable requirements

d) be relevant to conformity of products and services and to enhancement of

customer satisfaction
e) be monitored
f) be communicated

g) Be updated as appropriate.

The organization shall maintain documented information on the quality objectives.

4.2.9 HIRING

● The first point of contact a prospective employee has with a company is generally
through the HR department.
● HR Manager will screen resumes, check references and perform any necessary
background checks, and often conduct interviews with applicants having B.E,
Mechanical Engineering who have experience in industrial qualities.
● Fresher are not qualify for the job.

● Interview will have two rounds of Technical and HR round.

● HR performs orientations of new hires, informing them of policies, procedures,
benefits and other relevant information.
This is the procedure followed for hiring permanent employees.

4.2.10 BONUS

16
A bonus payment is usually made to employees once in a year on individual
performance, continue improvement in business development. They even
receive bonus of 30% when there is any occasion in the company or any
festivals.
4.2.11 EMPLOYEE BENEFITS:

● Free Accommodation.

● Compulsory promotion on every two years.

4.3 MARKETING DEPARTMENT

The Marketing department is a part of an organization that manages its money. The
business functions of a finance department typically include planning, organizing,
auditing, accounting for and controlling its company’s finances. The finance
department also usually produces the company’s financial statements.

4.3.1 MARKETING DEPARTMENTSTRUCTURE

Marketing And
Sales

After Sales
Marketing Sales
Service
Department Department
Department

17
4.3.2 COMPETITION
● THE COMPETITIVE LANDSCAPE
Provide an over review of product competitors, their strengths and weaknesses
­Position each competitor’s product against new product.

4.3.3 Communicating the quality policy

The quality policy shall:
a) Maraica Industry has maintained as documented information for all the processes;

b) The quality policy is communicated, understood and applied within the

organization;
c) Maraica Industry has addressed interested parties requirements and issues .

4.3.4 OTHER PROMOTION

● DIRECT MARKETING
 Overview of strategy, vehicle, & timing
 Overview of response targets goals & budget
 THIRD-PARTY MARKETING
- Co-marketing arrangements with other companies

 MARKETING PROGRAMS

- Other promotional programs

PRICING

● PRICING
-Summarize specific Pricing or pricing strategies.

-Compare to similar products.

POLICIES

-Summarize Policy relevant to understanding key pricing issues.

4.3.5 SUPPLIER CODE OF CONDUCT

Bray is devoted to conducting business in an ethical, legal, and socially responsible
manner. To help ensure that our suppliers and partners share this commitment to
integrity in all business dealings, all of Bray’s suppliers should adhere to the attached
18
supplier code of conduct. This code appliers to any suppliers working with any
division or subsidiary of Bray International.

We recognize that legal and cultural standards vary across the world, but this code
defines the minimum acceptable conduct for Bray suppliers and partners while
engaged in any Bray-related business, for example, business activities with Bay
and/or products supplied to bray.

DELIVERY DATE

Supplier shall deliver the goods in the quantities and on the date(s) specified in this
order or as otherwise agreed in writing by the parties (the “Delivery Date”). Timely
delivery of the goods is of the essence. In the event of delay, or anticipated delay,
from any causes, supplier will immediately notify buyer. In supplier fails to deliver the
goods in full on the Delivery Date, Buyer may terminate the order immediately by
providing written notice to supplier and supplier shall indemnify buyer against any
losses, claims, damages, and reasonable cost and expenses attributable to
suppliers failure to deliver the goods on the Delivery Date. Buyer has the right to
return any goods delivery prior to the Delivery Date at supplier expense and supplier
shall redeliver such Goods on the Delivery Date.

4.3.6 QUANTITY:
Buyer reserves the right to reject a delivery of goods if the quantity of goods delivered
is less than the quantity order or if the quantity of goods delivered exceeds the
ordered quantity by 5%. Any such rejected goods shall be returned to supplier at
suppliers risk and expense. If Buyer does not reject the goods and instead accepts
the delivery of goods at the increased or reduced quantity, the price for the goods
shall be adjusted on a pro-data basis 2.1961039

DELIVERY LOCATION:
All Goods shall be delivered to the addressed specified in the order (The “Delivery
location”) during Bray’s normal business hours or as otherwise instructed bray.

TITLE AND RISK OF LOSS

19
Title passes to Buyer upon delivery of the goods to the Delivery Location. Suppliers
bears all risk of loss or damage to the Goods until delivery of the Goods to the
Delivery Location.

4.3.7 PACKAGING
All goods shall be packed for shipment according to Buyer’s instructions or, if there
are no instructions, in a manner sufficient to ensure that the Goods are delivery in
undamaged condition.
PAYMENT TERMS
Supplier shall issue an invoice to Buyer on or after the completion of delivery. Buyer
shall pay all properly invoice amounts due to suppliers within forty-five (45) days
after Buyer’s receipt of such invoice, except for any amounts disputed by Buyer in
good faith. In the event of a payment disputed, Buyer shall promptly provide a
reasonably detailed description of each disputed item. The parties shall to resolve
all disputes expeditiously and in good faith. Suppliers shall continue performing its
obligation under the order notwithstanding any dispute.

SET-OFF
Without prejudice to any other right or remedy it may have, Buyer reserves the right
to set off at any time any amount owing to it by supplier against any amount payable
by Buyer to supplier

4.3.8 ADVERTISING

● Strategy & execution

- Overview & strategy

- Overview of media & timing
- Overview of ad spending

Customer focus
Maraica Industry management has demonstrating leadership and commitment with
respect to customer focus by ensuring that:
a) Customer and applicable statutory and regulatory requirements are determined,
understood and consistently met;
b) The risks and opportunities that can affect conformity of products and services
and the ability to enhance customer satisfaction are determined and addressed;

20
 c) The focus on enhancing customer satisfaction is maintained.

4.3.9 INTERNATIONAL

 INTERNATIONAL DISTRIBUTION

-Address distribution strategies

-Discuss issues specific to international distribution

 INTERNATIONAL PRICING STRATEGY

 LOCALIZATION ISSUES
- Highlight requirements for local product variations.

 LAUNCH STRATEGIES
 LAUNCH PLAN
-If product is being announced
 PROMOTION BUDGET
-Supply back up material with detailed budget information for review.
Establishing the quality policy
Maraica Industry management has establishing, implement and maintains a quality
policy that:
a) Maraica Industry quality policy is appropriate to the purpose and context of the
organization and supports our strategic direction;
b) provides a framework for setting quality objectives;

c) includes a commitment to satisfy applicable requirements;

d) Includes a commitment to continual improvement of the quality management

system.

PUBLIC RELATIONS Strategy & execution

- PR strategies

- PR plan highlights

- Have backup PR plan including editorial calendars, speaking engagements,

conference schedules, etc.

21
4.4 FINANCE DEPARTMENT
Finance is important to an organization as the firm has to know how viable it is and
balance profit with costs. The business functions of a finance department typically
include planning, organizing, auditing, accounting for and controlling the company’s
finance. The finance department also usually produces the company’s financial
statements.
A Field of Accounting that threads money as a mean of measuring economic
performance instructed of the factor of a product.
Financial accounting gather and summarize financial data to prepare financial report
such
• Balance Sheet

• Income Statement

• Investor Leaders

• Suppliers

• Tax Auditors and

• Stack Holder.

4.4.1TYPES OF ACCOUNTS MAINTAINED

● Calculation of employees salary

● Maintaining day book

● Preparation of trial balance

● Monthly sales tax return filed

4.4.2 MAINTENANCE
Every month the bills regarding maintenance of the premises (House keeping, etc)
from business office and branches are sent to the Head Office the payment is offered
by head office accordingly.

4.4.3 ACCOUNTING POLICIES

Accounting is done at head office. Major and routine expenses will be routed through
head office. Bills are forwarded to head office under the cover of bills forwarding
memo duly attested by Regional Manager in this regard. Bills regarding vehicle hire
charges has to forwarded to head office along with trip sheet in this regard. Bills which
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are not accompanied by trip sheet the distance will not be considered for payment
purpose.

4.4.4 BORROWINGS
The borrowings of the company may, if necessary, be secured by way of charge/
mortgage/ lien on the company’s assets in favour of the lenders (including debenture
trustees, holders of any securities). As the documents to be executed between the
lenders and the company may contain provisions to take over company’s assets in
certain events, it is necessary to pass a Resolution under section 180(1) (a) of the
Act, for creation of charges/mortgages for said borrowing. The above proposals are
in the interest of the company and the Directors commend the approval by members.

DAYBOOK:
A daybook is a descriptive of record of day – to – day financial transactions also
called a book of original entry. MARAICA INDUSTRY. Maintains the below
Daybooks, Sales daybook, for recording all the sales invoices. Purchases daybook,
for recording all the purchases invoice. Cash daybook, usually known as the
cashbook, for recording all money received as well as money paid out.

4.4.5 AUDITING

In this company every 6 months financial audit will done by the auditor who is
professionally qualified will check and correct entries enquires in the accounts and
every 3 months surveillance audit which is recorded by the employees of the
company.

4.4.6 TURNOVER OF THE COMPANY

Based on the analysis by finance department, the annual turnover of the company in
the year 2019- 2020 is 21 CRORES. MARAICA INDUSTRY balance sheet was last
filed on 31st March 2020

4.4.7 FUNCTIONS OF FINANCE DEPARTMENT

First duty of finance department of company to make the budget before actual
providing money to any department. Finance department analyzes all the resources
of funds and create a good financial structure of company. Management of taxes is
also the function of finance department. Finance department continues watches the
amendments and updates in tax laws and also create good corporate relation with
government by paying the tax on time.
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Finance department takes many measures for managing the financial risks of
company. For reducing loss of fund due to happening liquidity, solvency or financial
disaster, finance department makes a good plan and also takes the help of insurance
companies for reducing financial risk.
4.1 DIRECTORS & MANAGERS:
They have a professional and experienced team comprising of designers, analysts,
structural engineers and technicians to work simultaneously to execute the project
as per the needs and specifications of the clients. Around 10 members are working
in the main office of MARAICA INDUSTRY including Directors. There nearly 20
permanent employees working in the production unit they look forward to commence
their association with organization and assure to provide their best services possible.

Quality Job

✔ Completion on Time

✔ Aesthetic Look

✔ Complete Customer Satisfaction

4.4.8 FUNCTIONS OF FINANCE DEPARTMENT

First duty of finance department of company to make the budget before actual
providing money to any department. Finance department analyzes all the resources
of funds and create a good financial structure of company. Management of taxes is
also the function of finance department. Finance department continues watches the
amendments and updates in tax laws and also create good corporate relation with
government by paying the tax on time.
Finance department takes many measures for managing the financial risks of
company. For reducing loss of fund due to happening liquidity, solvency or financial
disaster, finance department makes a good plan and also takes the help of insurance
companies for reducing financial risk.

4.4.9 ACCOUNTING METHODS

● Accounts are maintained in the Tally ERP 9 software.

● Accounting entries are posted by verifying each and every bill of the company.

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 ● Accounting standards and procedures are followed to represent the trueness
of the accounting system.
● Constant method is used in providing depreciation for fixed assets

PURCHASING ORDER IN FINANCE DEPARTMENT

1. Customer sends a purchases order

2. Post a mail of credit to pay the supplier

3. Supplier delivers the goods

4. Customer accepts the order

5. Invoice the customer for the order

6. Customer remits payment

7. Collect the fee and remit the profit back

SUB – DIVISIONS OF FINANC DEPARTMENT

 Bookkeeping and Payables/Receivables

Bookkeeping is the most basic financial activity in a company. Before a business

owner ever considers hiring a CFO, they bring in a bookkeeper, who tracks all of the
transactions in the organization, covering both sales and expenses. As the
organization grows, they might hire more specialized payables and receivables
clerks, to take over functions such as corresponding with vendors and suppliers,
above and beyond recording transactions.
 Financial Reporting and Control

Financial Reporting and Control is the function that takes raw accounting entries and
transforms them into usable and comparable financial statements. Requiring far
more judgment than the bookkeeper’s role, this function involves everything from
ruling on how to implement accounting principles to designing financial processes of
the organization, selecting accounting systems, liaising with external auditors, and
ensuring that there are no gaps or oversights in existing processes.

 Tax and Compliance

Running a business involves paying tax, and paying tax means doing a lot of
calculations and filling out a lot of forms. Often using the financial statements as a
basis, along with various other configurations of the information produced by
Bookkeeping and Payables/Receivables, the Tax and Compliance function will make
sure all of the government forms and filings are sent complete and on-time to the

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taxman. A strong Tax and Compliance function will go one step beyond simple
compliance, and will find ways to minimize tax, so as to maximize the company’s net
income.
This function, “FP&A” for short, is the true bridge between the Past and the Future.
FP&A regularly creates strategic and financial plans that forecast what financial
results (sales and expenses) will look like in future periods. Then, they compare
actual results—prepared with the assistance of the Financial Reporting and Control
function—to determine areas where the business can improve. With this “variance
analysis” complete, they can then prepare more accurate forecasts for the future. A
strong FP&A function will not only generate annual forecasts but will be able to
update them even over the course of a day or two, and to run many scenarios that
examine the effects of, say, losing a big customer or an economic contraction.

 Treasury & Working Capital Management

The key role of Treasury is to make sure that the company doesn’t run out of cash.

This means, among other things, forecasting the upcoming working capital
(receivables, payables and inventory) needs of the company, investing surplus cash
in short-term instruments to generate modest interest income, and managing
currency risk.

 Capital Budgeting

Capital Budgeting is the function responsible for selecting between the various uses
of capital, or capital projects. After all, most organizations will have money available
to invest in the business, with the hopes of either growing sales or reducing
expenses. But the opportunities for spending typically exceed the amount available
to spend, so Capital Budgeting projects. A strong Capital Budgeting function will not
only forecast project benefits, but will also track these benefits over time to determine
whether the use of capital was as effective as originally anticipated.

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 CHAPTER 5
CONCLUSION
The internship carried out in MARAICA INDUSTRIES, was successful in
understanding real life situations in industrial organization. It helped to understand
the different Departments and functions in the organization. It provided the exposure
to practice and apply the acquired knowledge hands on in the working environment.
It also provided the systematic introduction to the ways of industry and developing
talent and attitudes, so that one can understand how Human Resource Development
works. Internship training also made us understand the formal and informal
relationships in an industrial organization so as to promote favorable human
relations and team work.

REFERENCE

WEBSITE

● http://www.maraica.com

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LETTER OF COMPLETION

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