AN OVERALL STUDY ON “VENKATESWARA STEELS AND

SPRING PVT LTD “UNIT-01”

INTERNSHIP TRAINING REPORT

Submitted by
ANTONY ROHAN I
Register No: 711523MMB005
of
KIT -KALAIGNARKARUNANIDHI INSTITUTE OF TECHNOLOGY
In partial fulfilment of the requirements
For the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

of
ANNA UNIVERSITY, CHENNAI

Under the supervision and guidance of

Dr. T. THIRUNAVUKKARASU
ASSOCIATE PROFESSOR
DEPARTMENT OF MANAGEMENT STUDIES

KIT -KALAIGNARKARUNANIDHI INSTITUTE OF TECHNOLOGY

An Autonomous Institution

Accredited with ‘A’ Grade by NAAC & NBA

COIMBATORE-641402

SEPTEMBER -2024
 KIT -KALAIGNARKARUNANIDHI INSTITUTE OF TECHNOLOGY
An Autonomous Institution

Accredited with ‘A’ Grade by NAAC & NBA

COIMBATORE – 641402

DEPARTMENT OF MANAGEMENT STUDIES

M23MBP301 – INTERNSHIP TRAINING

This is to certify that the internship training entitled

AN OVERALL STUDY ON “VENKATESWARA STEELS AND SPRINGPVT

LTD “UNIT-01”

Is the bonafide record of internship training done by

ANTONY ROHAN I

Register No: 711523MMB005

of

MASTER OF BUSINESS ADMINISTRATION

During the year

2024-2025

Guide Head of the Department

Submitted for the Internship training Viva – Voce examination held on

Examiner
 DECLARATION

I affirm that the internship training titled “AN OVERALL STUDY ON

VENKATESWARA STEELS AND SPRING PVT LTD UNIT-01 ” is the original work
of Mr. ANTONY ROHAN I (Reg. No. 711523MMB005) being submitted in partial
fulfilment for the award of MASTER OF BUSINESS ADMINISTRATION. Certified
further, that to the best of my knowledge the work reported herein does not form part of
any other internship training / internship report or dissertation work submitted for award
of any degree or diploma, either in this or any other university on earlier occasion by me
or any other candidates.

ANTONY ROHAN I
(Reg. No. 711523MMB005)

I certify that the declaration made above by the candidate is true, to my knowledge.

Signature of the Guide

 ACKNOWLEDGEMENT
The success of any internship training is the co-operative effort of the people around
an individual. For all efforts, internship training, I am highly intended to the following
personalities without whom this internship training would ever be completed.

I wish to express my sincere thanks and deep sense of gratitude to the,

[Link] GANDHI, Chief Executive Officer, [Link], Principal and
[Link], Dean Academics and Research KIT -Kalaignarkarunanidhi Institute
of Technology, Coimbatore for providing the necessary facilities to carry out this internship
training successfully.
I would like to extend my gratitude and sincere thanks to Dr. S. SIVAGNANA
BHARATHI, Head Department of Management Studies who has been very supportive
and encouraging for my internship training.

At the Outset, I deem it a pleasure in expressing my deep sense of gratitude and

sincere thanks to my guide Dr. T. THIRUNAVUKKARASU, ASSOCIATE
PROFESSOR, Department of Management Studies who has extended a remarkable
support and precious guidance in helping me for completing the internship training and
shared lot of his knowledge.

I am greatly indebted to thank the faculty members, department of management

studies, who have extended a remarkable support to complete my report.

I extend my gratitude for the encouragement that I received from my family for the
unconditional love in supporting my quest for knowledge.

I express my deepest and sincere thanks to the organization management and

organization guide for allowing me to do this internship training in their reputed concern,
who has extended a valuable guidance and cooperation in spite of his / her work schedule
for helping me in completing the internship training.
 TABLE OF THE CONTENT

CHAPTER
TITLE PAGE NO
NO

I Introduction of the study 1

II About the industry 2

About the company

III
Company profile
Vision and Mission
8
Organization Structure
Functional Departments
Purchase Department
Production Department
Tooling Department
Quality Department 12-31
IV Finance Department
HR department
Sales Department

V SWOT Analysis 32

VI Conclusion 36
 CHAPTER-I
1.1 INTRODUCTION OF THE STUDY
The primary objective of this study is to gain practical experience in various
aspects of the industry, with a particular focus on manufacturing processes, quality
control, supply chain management, and the challenges facing the steel industry. This
hands-on experience aims to provide valuable insights into the operational workings
of a manufacturing organization, enabling a deeper understanding of both the
theoretical and practical aspects of industrial operations.
One key area of focus during this study was to explore the various principles
associated with "quality aspects." Quality plays a critical role in ensuring that
products meet customer expectations, regulatory standards, and industry benchmarks.
Another significant learning aspect was understanding the "dynamics of demand and
supply" within the steel industry. The balance between demand and supply is essential
for the effective functioning of any manufacturing company. By observing how
production volumes, inventory management, and market conditions influence
decision-making, I gained insights into how organizations plan their production
schedules, manage resources, and adapt to market fluctuations.
This study also aimed to enhance my problem-solving and analytical skills in
organizational activities. Manufacturing environments are often dynamic and
complex, requiring quick decision-making and a thorough understanding of the
processes involved. By addressing operational challenges, I developed the ability to
analyze situations, identify root causes, and implement solutions effectively.
Additionally, I explored the environmental challenges facing the steel industry,
learning about sustainable practices and initiatives aimed at reducing the
environmental impact of manufacturing. As industries face increasing pressure to
adopt eco-friendly practices, I gained insights into the strategies being implemented to
enhance sustainability, reduce waste, and lower emissions in the steel production
process.
Finally, this study has provided a platform to develop effective communication
skills, particularly in the context of working with colleagues and inter-departmental
teams. Communication is essential in a manufacturing environment, as it ensures that
information flows seamlessly across various functions and departments

1
 CHAPTER – II

2.1 ABOUT INDUSTRY

Steel is a valuable resource for the long-term sustainability of modern society.
It is a combination of various metals, iron, and carbon to supply a harder sort of
metal .We see a lot of merchandise that employs metal in our everyday lives; cars,
bridges, and even daily use equipment are crafted from metal of various grades. In
India, steel industries have shown exceptional growth in this millennium which
shows by the data that India is the world's second-largest steel producer, behind
China . Steel demands in the infrastructure field have also skyrocketed in India over
decades, especially in the development of urban infrastructure like the construction
of smart cities, universal urban sanitation & basic urban facilities . Currently,
approximately 60% of the steel intake is from construction & infrastructure sectors
that are predicted to boom to 70-75% with the aid of using 2030-31 .The steel sector
has made a substantial contribution to India's economic prosperity. The steel industry
in India accounts for about 2% of the country's GDP. It also directly or indirectly
employs 2.65 million people The government of India has also introduced policies
Like the National Steel Policy 2017 for the improvement of the steel industry &
fixed the goals & objectives to achieve by 2030-31 .The government has also
reduced the taxes for steel industries & provided 100% FDI on steel industries Many
chemical formalists have contributed to chemically modified versions of steel and
other structural materials which attain higher strength, thereby making it easier to
build high-rise structures [8,17,20]. After the covid-19 pandemic, there is an
increment in the imports of steel by around 22% & exports of the steel has decreased
significantly. The consumption of steel in this pandemic has been also reduced by
around 10%, which is one of the major concerns for the Indian economic growth as
its contribution is significant.

EVALUTION OF STEEL IN INDIA

▪ TISCO (Tata Iron Steel Company Limited) commenced steel manufacturing in

India in 1907.
▪ In 1918, the IISCO steel factory opened as a competitor to TISCO.
▪ After a few years, the Mysore Iron & Steel Company was established in 1923 .

2
▪ India had a small steel and iron industry that was producing about a million
tonnes (MT) of steel at the time of independence After the Independent
government mainly focused on the establishment of the steel Industries where
they can mainly focus on the crude steel for steel production.
▪ In 1954, the Indian government passed a new establishment strategy, which
declared that new ventures would be handled by the central government.
Hindustan Lever and Bokaro were founded in 1954 and 1964 respectively.
▪ In the early 1990s, the private sector played a significant role in downstream
steel production, focusing primarily on the production of finished steel from
crude steel.
▪ The SAIL was created in 1973, which holds most of the iron & steel production
during that phase The government of India partially privatized SAIL in 1993.
▪ India became the world's second-largest steel producer in 2019 exporting
roughly 8.25 MT.

3
Government Initiatives in STEEL Sector
• The government released guidelines for the approved specialty steel
production-linked incentive (PLI) scheme in October 2021.

• The scheme is expected to bring in Rs. 400 billion in investment and increase
specialty steel capacity by 25 million tonnes.

• India and Russia signed an MoU in October 2021 to conduct steel R&D and
produce coking coal (used in steelmaking).

• 'Mission Purvodaya' was launched in 2020 to help India's eastern states develop
faster (Odisha, Jharkhand, Chhattisgarh, West Bengal, and the northern part of
Andhra Pradesh).

• JSW Steel, CSIR-National Chemical Lab (NCL), Scottish Development

International (SDI), and India H2 Alliance (IH2A) formed a partnership in June
2021 to commercialize hydrogen in the steel and cement industries.

• The government allocated Rs. 39.25 crore (US$ 5.4 million) to the Ministry of
Steel in the Union Budget 2020-21.

• The focus of the budget is on building infrastructure and manufacturing to help

the economy grow.

• The Ministry of Steel of the Government of India and the Ministry of

Economy, Trade, and Industry of the Government of Japan signed a
Memorandum of Cooperation (MoC) in January 2021 to boost the steel sector
through joint activities under the India–Japan Steel Dialogue.

• The Union Cabinet of India approved the National Steel Policy (NSP) 2017
with the goal of making India a globally competitive steel producer.

• India's government raised import tariffs on most steel products twice, each time
percent, and Imposed anti-dumping and safeguard duties on iron and steel
products.

4
STEEL INDUSTRY IN TAMILNADU :

• Iron & steel companies in Tamil Nadu, is one of the leading manufacturing
hubs in the country. The state is home to a significant number of iron and steel
companies, contributing to the growth and development of the country's
economy.

• The iron and steel industry in Tamil Nadu has a long and fascinating history,
dating back to the pre-independence era. Over the years, the state has evolved
as a major center for steel production and consumption, with many companies
operating in the region, both big and small.

• These companies are engaged in the manufacturing of various steel products,

such as hot-rolled and cold-rolled coils, sheets, plates, and pipes, among others.

• The iron and steel companies in Tamil Nadu are known for their high-quality
products, cutting-edge technology, and efficient manufacturing processes.

• They cater to a wide range of industries, including construction, automobile,

infrastructure, and engineering, among others.

The Top 10 Iron & steel companies in Tamil Nadu are following:

• Sree Rengaraj Ispat Industries Private Limited

• Sonali Extrusions Private Ltd

• Spirax-sarco India Pvt Ltd

• Noble Tech Industries Private Limited

• Banashankari Pipes Pvt Ltd. Hosur Branch

• Inframat Alloys Pvt. Ltd.

• Tjsv Steel Fabrication And Galvanizing (india) Ltd

• Electrosteel Castings Limited

• Tirumalai Steels Private Limited

• Kiscol - Kannappan Iron And Steel Company Pvt Ltd

5
MINISTRY OF STEEL IN INDIA :

• The Ministry of Steel is an executive branch agency of the Government of

India that is responsible for formulating all policies regarding steel production,
distribution and pricing in India. As of June 2024, the ministry is headed by a
Secretary Rank IAS officer, who is its administrative head, while the political
head is a minister of cabinet rank, H.D. Kumaraswamy, assisted by a Minister
of State.

• Planning and development of and assistance to the entire iron and steel industry
in the country development of the input industries relating to iron ore,
manganese ore, refractories and others required by the steel industry

Central Public Sector Undertakings :

• Steel Authority of India Limited (SAIL)

• National Mineral Development Corporation (NMDC)

• Rashtriya Ispat Nigam Limited (RINL)

• Kudremukh Iron Ore Company Ltd (KIOCL)

• MECON Limited

• Manganese Ore Limited (MOIL)

• MSTC Limited

• Sponge Iron India Limited (SIIL)

• Ferro Scrap Nigam Limited (FSNL)

KEY FACTORS IN STEEL IN INDIA

GDP Contribution

• The steel industry in India is a major contributor to the country’s industrial

GDP. As of recent data, the steel industry’s contribution to India’s GDP is
approximately 2% to 3%. This percentage may vary depending on factors like
market conditions, production volumes, and global demand.

• Value Added: The steel sector contributes significantly to the "value-added"

output of manufacturing, particularly in sectors like construction, automotive,
infrastructure, and engineering.

6
Indirect Contribution

• The steel industry also has an indirect contribution to the GDP through its
impact on various sectors that rely on steel products. The construction,
automotive, shipbuilding, and infrastructure sectors are major consumers of
steel. The growth in these sectors boosts the demand for steel, indirectly
impacting GDP growth.

• Additionally, the steel industry supports downstream industries such as steel

fabrication, recycling, machinery manufacturing, and construction. These
industries, in turn, contribute to India's economic output.

Employment Generation

• The steel industry in India is a key employer, with over 6 million people
directly and indirectly employed across various levels of the supply chain,
including mining, manufacturing, processing, and distribution.

• The employment in the sector further boosts household income and

consumption, contributing to overall economic growth.

Steel Industry Growth Rate

• The steel sector in India has witnessed significant growth in recent years. India
is the second-largest steel producer globally, and the sector has been expanding
rapidly to meet both domestic and international demand.

• Steel production has been growing at a healthy pace, with a CAGR (Compound
Annual Growth Rate) of around 5-7% in the last decade, which further
contributes to economic growth.

7
 CHAPTER - III

3.1 ABOUT THE COMPANY

FIG 3.1.1 MAIN OFFICE

Venkateswara Steels And Springs (India) Private Limited is a Non-govt
company, incorporated on 02 Feb, 2006.1
It's a private unlisted company and is classified as company limited by shares.
Products & Services 9: Precision Wire Forms, Brass Pushes, Torsion Springs, Circlips
Wire Forms, Special Threaded Nuts and Compression Springs.
Venkateswara Steels and Springs - from a manufacturer of springs, to
one with diverse interests including press components and heavy fabrication,
our journey is dotted with many milestones.
Our approach to manufacturing and processes such as TPM and TQM,
are in line with international standards. Our efforts are mirrored by customer
recognitions for our due diligence: for on-time performance, and best
technology upgradation, many times over.
Venkateswara Steels And Springs (india)'s Annual General Meeting (AGM)
was last held on N/A and as per records from Ministry of Corporate Affairs (MCA),
its balance sheet was last filed on 31 March [Link] of Venkateswara Steels
And Springs (india) are MYLAI SADAGOPAN VIJAYARAGHAVAN and
LAKSHMANAN DHANAPAL.

1 [Link]
8
3.2 COMPANY PROFILE:
CIN U27310TZ2006PTC012531
Date of Incorporation 02 Feb, 2006

Status Active

Company Category Company limited by Shares

Company Sub-category Non-govt company

Company Class Private

Manufacturing (Metals &

Business Activity
Chemicals, and products)

Authorized Capital 172.0 lakhs

Paid-up Capital 128.2 lakhs

Paid-up Capital % 74.53488

Registrar Office City Coimbatore

Registered State Tamil Nadu

Registration Number 12531

Registration Date 02 Feb, 2006

Listing Status Unlisted

AGM last held on 29 Sep, 2017

GSTIN 33AACCV3065F1ZL

9
COMPANY VISION AND MISSION
VISION
• We are commited to a customer delightful by Experience.

• Manufacturing Quality product at Competitive Cost.2

MISSION
• Work towards continuous up-gradation of technology and process.
• Focus on Skill development and Employing effective team work to create a
innovative work culture.

2 [Link]

10
 3.2 ORGANIZATION STRUCTURE

FIG 3.3.1 ORGANIZATION STRUCTURE

11
CHAPTER-IV

FUNCTIONAL DEPARTMENTS

• 4.1 PURCHASE DEPARTMENT

• 4.2 PRODUCTION DEPARTMENT

• 4.3 TOOLING DEPARTMENT

• 4.4 QUALITY DEPARTMENT

• 4.5 FINANCE DEPARTMENT

• 4.6 HUMAN RESOURCE DEPARTMENT

• 4.7 SALES DEPARTMENT

12
4.1 PURCHASE DEPARTMENT:

• In this department procure a raw material goods (STEEL) From SAIL(STEEL

AUTHORITY OF INDIA).

• Purchasing is the process of buying or acquiring goods.

• Procurement a Raw materials (SAIL), Machine purchasing,

• Prepare a “REQUIREMENT SLIP”,

• Prepare a Purchase order,

• Negotiate a raw material with Suppliers for a production.

ACTIVITES IN PURCHASE DEPARTMENT:

Raw Material Sourcing and Supplier Management
• Help in the acquisition of essential raw resources, such as coal, iron ore, scrap
metal, etc.

• Find possible raw material providers by conducting research.

• Audit suppliers to make sure safety and quality requirements are being met.

• Assist in negotiating terms and prices for raw resources, including commodities
that are subject to volatility.
Inventory and Stock Management:

• Keep track of and oversee the consumables, semi-finished goods, and raw
material inventory.

• Keep an eye on inventory levels and place new material orders in accordance
with production projections.

• To avoid waste or delays, make sure that items are arranged and stored properly.
Equipment and Machinery Procurement

• Obtain the capital equipment and machinery (such as rolling mills and furnaces)
required for production.

• Obtain plant machinery replacement parts and maintenanceservices.

• Examine possible suppliers of machinery and equipment, taking quality and

price into account.

13
Cost Control and Budget Management

• Monitor and evaluate energy, equipment, and raw material costs.

• Help oversee supplier agreements and make sure that pricing terms are being
followed.

• Create expenditure analysis reports to find areas where money can be saved.
Reporting and Documentation

• Create procurement reports that include information on inventory levels,

supplier performance, and material costs.

• Help in keeping procurement contracts and paperwork organised and up to date.

• Make certain that every procurement document is precisely documented and

available for audits.

FIG 4.1 PURCHASE DOCUMENTS

14
4.2 PRODUCTION DEPARTMENT

• Raw material : USHAMARTIN SS STEEL ( COIR),[3mm,9mm,1mm)

• A production time as on SHIFT Basis: (8 am to 7.30 pm and 7.30 pm to 8 am)
• It follow the “FORWARD SCHEDULING ”and stored in the “Store Room”.
• Mostly machine done the products , the employees supervise a machine as well
products.

ACTIVITIES IN PRODUCTION DEPARTMENT:

Raw Material Handling

• Receiving Raw Materials: The production process begins with the procurement
of raw materials such as iron ore, coal, scrap steel, limestone, and alloying
elements.
• Storage and Inventory Management: Raw materials are stored in different
sections based on their type and required quantity. Inventory management
ensures that the materials are available for continuous production.
• Transportation: Handling and transporting raw materials to various production
areas (e.g., from storage yards to the blast furnace or electric.

Casting

• Continuous Casting: The molten steel is poured into molds where it solidifies
into semi-finished shapes such as billets, blooms, or slabs. Continuous casting
machines are commonly used for this purpose.
• Ingot Casting: In older processes, steel is poured into large molds (ingots),
which are later re-heated and processed.

Environmental Control and Waste Management

• Emission Control: Air pollution control measures are implemented to reduce

the release of dust, fumes, and gases like CO2 and NOx.
• Water Treatment: Water used in cooling and other processes is treated to
prevent contamination and is often recycled.
• Waste Management: Solid waste, slag, and other byproducts are recycled or
disposed of in an environmentally responsible manner.
15
Testing and Quality Assurance

• Chemical Testing: To make sure steel satisfies the necessary chemical

requirements, its composition is examined in a lab.

• Testing: Tests are conducted on mechanical attributes like ductility, impact

resistance, hardness, and tensile strength.

• Dimensional Testing: To make sure the final steel products' dimensions match
the necessary tolerances, they are examined using gauges and measuring
devices.

FIG 4.2 FINISHED PRODUCTS

16
4.3 TOOLING DEPARTMENT

The Tooling Department plays a critical role in the manufacturing process,

particularly in industries like steel production and springs, where precision and
reliability of tools are paramount. This department is primarily focused on designing,
maintaining, and ensuring the functionality of tools, dies, molds, jigs, fixtures, and
machinery used in production.

Nature of the Tooling Department:

Tool Design and Development:

• The tooling department is responsible for designing and developing the

necessary tools required for production. In steel and spring manufacturing, this
might include dies, jigs, molds, cutters, and fixtures for shaping, cutting, and
forming the steel or spring material..

Tool Maintenance and Repair:

• The department schedules routine checks and repairs to ensure tools are
functioning correctly and to reduce unplanned downtime in the production line.

Calibration and Optimization:

• This might include optimizing the tool's performance to reduce cycle time,
improve efficiency, and enhance the quality of the final product.

Collaboration with Production:

• The tooling department works closely with the production team to make sure
that tools are properly set up for the manufacturing process.

17
Activities in the Tooling Department:

Tool Design and Fabrication:

• Creating custom tools like dies, molds, cutting tools, etc., for specific
manufacturing processes. This may involve prototyping, testing, and refining the
tool designs.

Routine Tool Maintenance and Servicing:

• Regular servicing of tools to keep them in good working condition, which

includes sharpening, cleaning, oiling, or replacing parts that have worn out.

Tool Repair:

• In case of tool breakdowns or damage, the tooling department performs repairs

to restore the tool's functionality. This can include welding, grinding, and re-
shaping tools.

Tool Performance Evaluation:

• Monitoring the performance of tools in use, ensuring that they are operating
efficiently. This may involve testing tools during and after production to check
for wear and tear.

Inventory Management of Tools:

• Ensuring that there are enough tools available for production without
overstocking. Proper tool storage and inventory management are crucial to
minimize downtime during the production process.

Tool Setup and Calibration:

• Setting up the tools on the machines and ensuring that they are calibrated
correctly to produce high-quality products.

18
Tool Documentation:

• Maintaining records for all tools in use, including repair logs, calibration
schedules, and performance evaluations.

Cost Management:

• Keeping track of tooling costs and working on strategies to optimize costs by

improving tool life and reducing maintenance time.

FIG 4.3 TOOLS

19
4.4 QUALITY DEPARTMENT:

The Quality Department is responsible for ensuring that products

manufactured meet the company's internal quality standards and regulatory
requirements. In the case of steel and springs manufacturing, the quality department
ensures that the products are safe, reliable, and meet the specifications required by
customers.

Nature of the Quality Department:

Quality Control (QC):

• QC is focused on inspecting raw materials, in-process products, and finished

goods to ensure they meet the quality specifications set by the company and
industry standards.

Quality Assurance (QA):

• QA is a broader system that includes developing quality standards, procedures,

and policies to ensure the entire production process, from raw material
procurement to the final product, is under quality control.

Regulatory Compliance:

• The quality department ensures that the products manufactured comply with
regulatory standards, such as ISO 9001, ASTM (for steel), or other relevant
certifications.

Root Cause Analysis and Corrective Actions:

• The quality team is responsible for investigating defects or failures in products

and determining their root causes. They then implement corrective actions to
prevent recurrence and continuously improve the production process.

20
Key Activities in the Quality Department:

Incoming Material Inspection:

• Quality inspectors check the raw materials (like steel, wire, etc.) that arrive at
the facility. These materials are tested for their chemical composition,
mechanical properties, and conformance to specifications to ensure they meet
the required standards for manufacturing.

In-Process Quality Control:

• During production, the quality department monitors and tests products at various
stages of the manufacturing process. This includes checking the dimensions,
strength, and finish of steel or springs to ensure that they meet the required
specifications.

Final Product Inspection and Testing:

• Once production is complete, the final products undergo rigorous testing. For
steel products, this may involve tensile strength testing, hardness testing, surface
finish checks, etc. For springs, it might include testing spring strength, elasticity,
and fatigue resistance.

Quality Documentation:

• The quality department keeps detailed records of inspection reports, test results,
non-conformances, and corrective actions. These records are essential for
traceability and regulatory compliance.

21
4.5 FINANCE DEPARTMENT

• Managing a Fund flow and prepare cash flow in weekly basis. Fund flow
weekly approx. (1 cr)

• A company maintain a 30% percent profit in every individual product.

• Mostly a company stores a sales invoice, purchase invoice and journals invoice
as (7 to 10 yrs) in store room.

• File a gst and income tax as per govt norms.

• Debtors : (AISAN AND STEELS,BEL,BRAKES INDIA…)

• Creditors:(HERDON MACHINERY, HUEI SHANG INDUSTRIAL, ORB

ENERGY…..)
ACTIVTIES IN FINANCE DEPARTMENT:

Budgeting and Financial Planning

• Budget Preparation: Create yearly budgets that include production costs, capital
expenditures, and income predictions for all departments and overall operations.

• Forecasting: Estimate future financial performance using market patterns,

historical data, and the state of the economy.

• Cost Allocation: Distribute funds to guarantee the best possible investment in

important sectors such as R&D, equipment, and raw materials.

Cost Management and Control

• Cost Analysis: Keep an eye on and evaluate the production cost structure, taking
into account labour, raw material costs, overhead, and logistics.

• Initiatives to Reduce Costs: Determine areas, such energy efficiency or

automation, where costs can be cut without sacrificing the quality or safety of
the final product.

22
 • Inventory management: To reduce expenses associated with inventory keeping,
supervise the handling of raw materials, work-in-progress, and completed
goods.

Analysis and Reporting of Financial Data

• Profit and Loss Statements: To evaluate the profitability of the business, create
and examine monthly, quarterly, and annual P&L statements.

• Sheets of balance: To maintain the company's financial stability, track and

report on its equity, liabilities, and assets.

• Cash Flow Management: Examine cash flow to make sure there is sufficient
liquidity to cover capital expenditures and ongoing operating requirements.
Analysis of Variance: Examine differences between budgeted and actual
financial performance to spot possible problems.

• Funding and Financing: Manage your relationships with financial institutions

and determine whether you require outside funding in the form of loans, bonds,
or equity investments.

FIG 4.5.1 CREDITORS

23
Controlling Risk :
• Risk Identification: Determine the financial risks, such as credit risks, currency
changes (for overseas sales), or market volatility in steel pricing.
• Strategies for Hedging: To reduce the risk of changes in interest rates, currency
exchange rates, or commodity prices, use hedging or derivatives.
• Insurance: Verify that the business has sufficient coverage against operational,
financial, and physical hazards
.
Tax Strategy and Tax Planning and Compliance:
• Create tax plans to reduce obligations while adhering to regional, federal, and
international tax laws.
• Tax Filing: Compile and submit corporate taxes on time while according to tax
regulations.
• Tax Audits: Work with tax authorities to manage tax audits and settle any
disputes.

FIG 4.5.2 DEBTORS

24
Auditing and Financial Compliance

• Internal Audits: To make sure financial procedures adhere to corporate

guidelines, industry norms, and regulatory requirements, conduct internal audits.

• Management of Working Capital Liquidity management: Make sure the

business has enough operating capital to cover immediate expenses such
supplier payments, payroll.

25
4.6 HUMAN RESOURCE DEPARTMENT

• This department provide a Man power and Administration controls.

• Calculating the employees attendance and pay off as their performance.
• In this company provides a 12 C .L (casual leave) for their employees.
• In this “unit -1” contains a 190+42 =232 (Employees+ office staff).
• The provide a E.S.I and P.F for their employees.

ACTIVITIES IN HUMAN RESOURCEMENT :

Hiring and Staffing

• Skilled Labour: Engineers, welders, and machinists are among the highly skilled
people needed by the steel and spring sectors. People with technical skills in
engineering, manufacturing, or metallurgy are aggressively sought after by HR
departments.

• Training & Apprenticeships: To build skilled labour from the bottom up, several
businesses provide apprenticeship programs. HR oversees these initiatives,
which give new hires the chance to develop their practical experience and
sophisticated technological abilities.

• Employee placement is the process of effectively assigning workers to positions

that are appropriate for their training and experience while making sure that
labour demand and production schedules coincide.
Education and Training

• Technical Training: Because the production of steel and springs requires

sophisticated technology, HR makes sure that staff members receive continual
technical training on how to operate devices like rolling mills, furnaces, and
spring coiling machines.

Compliance with Safety laws for Employee Health and Safety:

• HR makes ensuring that local safety standards, industry-specific safety

procedures, and Occupational Safety and Health Administration (OSHA) laws
are [Link] Safety and Ergonomics Initiatives: HR encourages
workplace safety and ergonomics by carrying out evaluations to reduce injuries
from manual handling and repetitive duties.

26
 • Health Programs: Providing wellness initiatives, such stress management
courses, counselling, and health checks, to guarantee the physical and emotional
well of staff members.

• Labour Relations and Union Management: There are sizable unionised

workforces in the steel and spring sectors. HR frequently participates in labour
contract negotiations, dispute resolution, and making sure that salaries, benefits,
and working conditions for employees are in line with union agreements.
Pay and Benefits

• Competitive Wage Structures: Taking into account local labour market

conditions, skill levels, and safety regulations, HR makes sure that wages and
compensation are competitive within the industry.

• Incentives & Bonuses: HR may use profit-sharing, performance-based bonuses,

or incentive schemes connected to safety records or production goals in order to
motivate employees and keep talented individuals.

• Benefits Management: HR oversees retirement programs, health insurance, and

other benefits for staff members, making sure they have competitive benefit
packages and sufficient coverage.
Management of Performance

• Frequent Performance Reviews: To make sure that productivity and quality

criteria are fulfilled, HR sets up frequent performance reviews for staff
members. Feedback sessions are intended to pinpoint areas that need work and
acknowledge accomplishments.

• Reward and Recognition: Initiatives to honour outstanding achievement,

whether it is in terms of innovation, safety record, or production efficiency.
Compliance with Regulations

• Labour Laws and Standards: HR makes sure that fair salaries, working
conditions, and employee rights are all in accordance with local, state, and
federal labour laws. Additionally, they keep abreast of industry-specific rules,
such as environmental requirements for the production of steel.

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 • Environmental and Sustainability Compliance: Because steel production has an
impact on the environment, HR is also responsible for making sure that
employees understand sustainability practices and legal standards, especially
those pertaining to emissions, waste management, and recycling.
Engagement and Retention of Employees

• Workplace Culture: HR strives to create a welcoming and inclusive work

environment by resolving employee grievances, boosting morale, and
developing engagement initiatives to guarantee a sustained dedication to the
business.

• Exit Interviews: When workers depart the company, HR interviews them to find
out why they left and to pinpoint areas where the workplace needs to be
improved.
Inclusion and Diversity

• Encouraging Diversity: HR frequently strives to promote diversity in the

workforce by putting in place rules that support equal opportunity and foster an
inclusive workplace in the steel and spring industries.

• Racial, cultural, and gender sensitivity: developing training initiatives and

cultivating an environment where workers from all backgrounds are treated with
respect and feel appreciated, especially in a field that has historically been
dominated by men.

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4.7 SALES DEPARTMENT:

• In this department receiving a orders from the cilents.

• In this company deal with mostly Brakes india( Subsidaries of TVS )

• The Sales Split into the 3 groups:

• BRAKES -85%

• LMW-8%

• OTHERS-7% (AISAN AND STEELS,BEL,LAKSHMI MACHINE

WORKS,ETC……)

CUSTOMER DATA IN VSSIPL 2023 - 2024

BRAKES INDIA LMW OTHERS

7% 0%
8%

85%

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ACTIVTIES IN SALES DEPARTMENT :

Customer Relationship Management (CRM):

• Lead Generation: Utilising networking, marketing campaigns, and industry-specific

data, find and cultivate prospects from a variety of industries.
• Customer Engagement: Establish enduring bonds with important clients by
providing individualised care, following up frequently, and comprehending their
needs.
• Customer service: To foster loyalty and trust, offer post-purchase assistance,
address grievances, and guarantee satisfaction.
• Account management: Continue to engage with customers on a regular basis, assess
their needs, and modify sales tactics as necessary to preserve and expand current
accounts.
Sales Negotiation and Closing Deals

• Preparing a quote: Offer thorough quotes that cover costs, lead times, delivery
terms, and terms of payment.

• Contract Negotiation: Work with clients to agree on conditions of sale, such as

costs, delivery dates, quantities, and modes of payment.

• Order Finalisation: Complete sales by obtaining purchase orders, examining

specifications, and making sure that what the customer expects and what can be
provided match.
Sales Order Management

• Order processing: Accurate information such as specifications, delivery addresses,

and quantities are ensured when receiving and processing customer orders.
Coordination with manufacture/Logistics: To guarantee prompt manufacture and
delivery of steel goods, collaborate closely with the production and logistics
departments.
inventories management: Keep an eye on stock levels and inventories to guarantee
that customer orders are fulfilled on time.

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Sales Forecasting and Reporting

• Sales Goals: Establish monthly, quarterly, and annual sales goals for the division.
Sales Performance Tracking: Examine measures like revenue, order volume, and
profit margins to keep an eye on the team's performance in relation to goals.

• Reporting to Management: Inform senior management on a frequent basis about

market circumstances sales performance, and obstacles.
Management of Customer Credit and Payment

• Credit Verification: Prior to granting credit conditions, determine the consumers'

creditworthiness. Payments and Invoicing: Make ensuring that invoices are accurate
and that payments are collected on time. Debt Recovery: Manage past-due debts,
including correspondence and terms of payment negotiations.
Coordination of Logistics and Delivery

• Supply Chain Coordination: Work with logistics to manage lead times, guarantee
on-time delivery, and make sure steel items arrive at customers' locations on time.

• Export Sales: Oversee the export paperwork, shipment arrangements, and customs
processes for clients from abroad.

• Shipping Documentation: Verify that every shipping document is correct and

accessible to clients when required.

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 CHAPTER -V

SWOT ANALYSIS:

STRENGH:

Reputation and Brand Recognition

Venkateswara Steels has built a strong reputation in the steel industry over the
years, especially in the manufacturing of specialized steel products such as springs.
Their brand is recognized for high-quality standards, which gives them a competitive
edge in the market. Customers trust their products for reliability and durability, which
enhances customer loyalty.

Product Diversification and Niche Focus

The company offers a wide range of steel products, including springs, wire rods,
bars, and other custom products used in industries such as automotive, construction, and
manufacturing. This diversification helps mitigate risks, as the company is not reliant on
a single product or sector. By focusing on specialized spring products, they cater to niche
markets, creating additional demand and value.

Skilled and Experienced Workforce

Venkateswara Steels boasts an experienced team with technical expertise in steel

manufacturing processes. The presence of skilled engineers, technicians, and workers
ensures the efficient production of quality products and allows the company to innovate
and improve processes.

Strong Supply Chain and Distribution Network

The company has a solid distribution network within India and surrounding regions.
They have established relationships with suppliers of raw materials and distributors of
finished products. This network ensures timely delivery and cost-effective transportation
of goods, enhancing overall operational efficiency.

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WEAKNESS:

Vulnerability to Raw Material Price Fluctuations

The steel industry is highly dependent on raw materials like iron ore, coal, and
scrap metal. Prices of these raw materials can fluctuate significantly due to global market
conditions, geopolitical tensions, or supply chain disruptions. Venkateswara Steels may
face cost pressures that can reduce its profit margins if it cannot pass these costs on to
customers.

High Capital Investment and Debt

Steel production requires significant investment in machinery, plant, and

equipment, as well as ongoing maintenance costs. The company may face challenges in
raising funds or managing debt levels, especially during periods of economic uncertainty.
In addition, the high initial capital investment needed for expansion into new facilities or
new product lines can limit growth flexibility.

Limited International Exposure

While Venkateswara Steels has established a strong domestic presence, it may not
have the same level of visibility or market share internationally. Expanding to global
markets requires investments in marketing, distribution, and compliance with
international standards, which could prove challenging and expensive.

Dependency on Domestic Market

The company’s revenue is heavily reliant on the domestic market. While this can
be an advantage when local demand is strong, it also makes the company vulnerable to
downturns in the local economy, regulatory changes, or changes in consumer preferences.
Diversifying into international markets would help to reduce this dependency.

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OPPORTUNITIES:

Growing Infrastructure and Construction Sectors

India and many other countries are witnessing significant growth in infrastructure
development. Projects such as highways, bridges, residential buildings, and industrial
complexes are all driving demand for steel products. Venkateswara Steels can capitalize
on this by positioning itself as a supplier to key players in these sectors.

Adoption of Advanced Manufacturing Technologies

The steel industry is increasingly adopting technologies like automation, AI, and
3D printing to improve efficiency and reduce costs. By investing in state-of-the-art
manufacturing technologies, Venkateswara Steels can enhance production capacity,
minimize wastage, and improve the overall quality of its products. It can also reduce
dependence on manual labor and streamline operations.

Focus on Sustainability and Green Steel

With the global push toward sustainability and reducing carbon footprints, there is
growing interest in “green steel” – steel produced using environmentally friendly
methods. By adopting cleaner production techniques and investing in renewable energy
sources, Venkateswara Steels can appeal to environmentally-conscious customers and
potentially access government incentives or subsidies related to sustainability.

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THREATS:

Intense Competition in the Steel Industry

The steel industry is highly competitive, with numerous local and international
players competing for market share. Larger companies with greater financial resources
can afford to invest in advanced technology, offer lower prices, and scale up production
to a global level. Smaller players like Venkateswara Steels may face pressure in
maintaining margins and gaining market share in such a competitive environment.

Economic Slowdowns and Global Recession

A slowdown in the global or domestic economy can directly impact demand for
steel products. Construction and manufacturing industries, key customers of steel, may
reduce production or delay projects during recessions, leading to reduced sales for
companies like Venkateswara Steels. Economic downturns also lead to lower consumer
spending and investments, which can adversely affect steel prices and demand.

Government Regulations and Trade Tariffs

Steel manufacturing is subject to various regulatory frameworks, including

environmental standards and trade policies. Any tightening of environmental regulations,
particularly around emissions and waste disposal, could increase production costs for
Venkateswara Steels. Additionally, international trade policies, such as tariffs or anti-
dumping regulations, could impact the company’s ability to expand into foreign markets
or affect the cost of imported raw materials.

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CONCLUSION:
• Internship was a valuable experience that taught me a lot.

• I got to work on different tasks and projects, which helped me better understand
how the company works ?

• I also improved my communication, teamwork, and problem-solving skills, which

are important for any job.

• Overall, this internship confirmed my interest in [Finance and Marketing] and

gave me a clearer idea of what I want to do in the future. The skills and
experiences My I gained will definitely help me as I move forward in my career.

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