Report on

Submitted to

In partial fulfillment of the Requirements for the award of Degree of Bachelor of Commerce (B.Com)

Submitted by: AVUNI.R University Registration No.c706766 DEPARTMENT OF COMMERCE
GURU SHREE SHANTIVIJAI JAIN COLLEGE FOR WOMEN

(2008-2009)

TABLE OF CONTENT

CONTENTS

1. TITLE PAGE 2. STUDENT DECLARATION 3. SUMMER TRAINING CERTIFICATE 4. ACKNOWLEDGEMENT

CERTIFICATE

This is to certify that the project as entitled “NITIN BEARINGS” is a bonafide work carried out independently by AVUNI.R. The project has previously not previously not formed basis for the award of any degree, diploma or other similarities.

Place: Chennai Date: 22.11.2009

DECLARATION

I hereby declare that the internship for the degree of B.Com (Corporate Secretaryship) on “NITIN BEARINGS” is my original work and that no part of it has been submitted for the award of any other similar title.

Place: Date:

Signature of candidate (AVUNI.R.SHETA)

ACKNOWELDGEMENT

I wish to express, my gratitude to Dr.Mrs. M.K.Malathi, Principal, Guru Shree Shantivijai Jain College for Women, Veoery, Chennai – 600 007 for giving this opportunity to undergo the institutional training at NITIN BEARINGS.

It is my pleasure to thank Ms.Sumangala, head, department of commerce and to all other faculty guide for providing their valuable guidance in completing this project successfully

My sincere thanks to Mr. N.Maheshkumar, Proprietor of NITIN BEARINGS and other staff members of the department for their constant help and co-operation rendered during the project work.

CONTENTS

S.NO I

TITLES

PAGE NO

INTRODUCTION ORGANISATION STRUCTURE AND LAYOUT PRODUCTS & SERVICES FINANCIAL ANALYSYIS

1

II III

IV

V

CONCLUSION

ANNEXURES

CHAPTER – I INTRODUCTION

INTRODUCTION “A Company” is a comprehensive term for a number of institutions carrying on certain kinds of business. In narrow sense, it may be defined as the place of carrying out business of buying and selling a commodity or product, stock and sell it to prospective customers for a profit.

HISTORY OF NITIN BEARINGS

NITIN BEARINGS (NB) is a city's leading industrial trading firm. The privately held and funded company with no outside partners, fully funded by internal resources.

NB is an Single location organization with no es anywhere. It was started in 1986 with an aim to serve the sectors of infrastructure, agricultural, and other industrial sectors, NB has been upgrading its operations and facilities time to time to counter competition introduced into the country's economical system. As part of that effort, NB has been always on lookout for latest trends and technologies, as well as training employees on usage of Internet and other technologies. NB also has taken advantage of the deregulation of the import/export to directly import latest technology products and systems from reputed manufacturers worldwide, and do the value-addition by assembling the components together into an standard system or as a custom-made solutions. In addition, NB has been working on reigning new technologies, NB reported revenue of Rs.1.36 million and total assets of Rs.104.81 million.

The first component of what was later to become the NITIN BEARINGS was created in 1986, in Chennai. Called, NITIN BEARINGS & GENERAL SUPPLIERS. It was also the Chennai's first industrial supplies company with integrated end-to-end power transmission solutions, established to serve the industry's interests.

COMPANY PROFILE

COMPANY PROFILE Purpose of creation of NB:
“The sole purpose of creating NBGS was to serve the industry with up-to-date power transmission technologies at an affordable prices and efficient after sales service”.

The company logo represents a commitment to serve only the best and latest.

Business
NB's products include POWER TRANSMISSION PRODUCTS like complete range of Bearings, Linear Motion Systems, Ball Screws, Gearboxes and Geared Motors, AC & DC Motors and Controllers, Pneumatic and Electric Vibrators, Automation components.

Partnership
NB has partnered with various manufacturers and importers to provide a bigger basket of products at least possible lead times.

Associate Partners
There are several other associate partners that work hand in hand with NB. They all use their own resources and influences to sinergise the bigger business among the associates.

Growth
NITIN BEARINGS has always seen a steady growth year by year. Even during the periods of industrial slowdown, NB has defied the recession and lived up to its reputation of an

organisation full of energy, and total buoyancy. NB has been the matter of envy to its arch rivals in its own means.

Group companies

ENBEE POWER TRANSMISSION SYSTEMS to take care of NB’s after sales service and customer support. HOME DECORZ serving the interests of CIVIL construction industry

Management: The Company is an partnership organization, headed by Mr. Mahesh as the Prime Partner and he holds all the decision making rights.

CHAPTER – 2 ORGANISATION STRUCTURE:

ORGANISATION STRUCTURE:
Organization here refers to the structure which results from identifying and grouping work, defining the authority and responsibility and establishing relationship. Whenever several people are working together for a common end there must be some organization that is, the tasks must be divided among them and the work of the group must be coordinated. Otherwise there may be duplication of efforts or even work at across purpose. During the work and arranging for coordinating make up the process of organization and once that is completed the group may be described as an organization

IMPORTANCE OF ORGANIZATION STRUCTURE:
   

Facilitating management Encouraging growth Optimum use of technologies improvement Stimulating creativity.

ORGANIZATIONAL CHART:
One of the simplest ways of presenting a picture of an organization although it does not give a complete accurate picture. An organizational chart is a simple diagram of formal authority relation. This shows the job titles and who reports to whom. any would include many more level of supervision and groups on each level. Hence it is customary to use several chains, one for the top management organization and one for each of the main departments.

LAYOUT:
MANAGER ROOM OTHER CABINS VISITORs ROOM RECORDS ROOM

ENQUIRY MANAGER ROOM

COUNTER 1

COUNTER 2

COUNTER 3

ACCOUNTS MANAGER

CLERK REST ROOM

SENIOR CLERK

STEPS

REST ROOM

RECORD ROOM

EXPLANATION OF GROUND FLOOR AND FIRST FLOOR:
MANAGER ROOM: MR K.SEKAR is the Sales manager of NB. He is important person in the company with lots of authorities and responsibilities. He is in charge of all sales to customers without his approval no sales will happen, such an important person. CABINS: There are actually three counters where visiting customers can discuss their requirements. These cabins consist of three staffs N.SRNIVASAN (Asst Sales Manager, Bearings and LM Systems), VENGALA LAKSHMI (Asst Sales Manager, Gear Drives), NAGA SUBRAMANIUM (Asst Sales Manager, Motors and controllers). ACCOUNTS MANAGER & SENIOR CLERK ROOM: S.ARULANANDAM was the accounts manager of NB. He is actually a dedicated man in his work. He helped us lots in our works and he kept a mutual relationship with us as such. Very kind and genuine person. MRS. SIVAGAMI is the Asst manager of accounts in NB. She is a very nice person, kind and helped us for doing works. RECORD ROOM: Here the Companys preceding year’s document will be filed for future reference. More than 10 years records are stored in this room for verification. STAFFS IN NITIN BEARINGS :
      

MR K.SEKAR : MANAGER MR A.ARULANANDAM: MANAGER OF ACCOUNTS MRS SIVAGAMI: ASST MANAGER OF ACCOUNTS MRS VENGALAKSHMI: Asst Sales Manager, Gear Drives MR N.SRINIVASAN: Asst Sales Manager, Bearings and LM Systems MR NAGA SUBRAMANIUM: Asst Sales Manager, Motors and controllers A.N.MOORTHY: STAFF

  

R.S.P DAMODHARAN: STAFF KARUNANATHY: STAFF SATHYA MOORTHY: OFFICE ASST

CHAPTER-3 PRODUCT & SERVICES

VARIOUS EQUIPMENTS USED IN COMPANY:

COMPUTER: Computer technology links via satellite are bringing about revolutionary changes in the field of communication. New information technology is quicker, safer and less prone to distortion or misrepresentation. The computer is now used in all walks of life its use in Companys has assumed greater significance a computer can be defined as an electronic data processing machine which not only processes numeric data but also stores and retrieves o lot of information whenever needed.

INTERNET: It is defined as a global collection of people. Computer linked together lines. It has been extremely versatile mode of communication.

XEROX MACHINE: Xerox machine helps us to exact copies of a document. It is electronically operated machine. Manual labours required is a minimum copy of a document can be very quickly with help of Xerox machine. The operators of the machine need posses educational qualification. TELEPHONE:

It is the commonly used means of oral communication. It is used to place and take orders to exchange urgently needed information, to make appointments, to establish valuable business contacts and numerous other things. It is less expensive also when compared with dictating typing and dispatching of letters. It helps personal contracts and direct exchange of ideas and information. It is a convenient and faster form of communication device.

FAX MACHINE: The organization also uses facsimile transmission facilities. It is used to transfer diagram, illustration, photographs or copies of artwork visuals. Fax machine is the fastest means of communication. It is connected to a telephone. If a document is generated on a computer, it can be sent directly using a fax modem. Business message, Diagrams, charts etc are quickly transmitted from one corner of the world to another.

VOICE MAIL: This type of voice mail will be mostly used by Company for the usage of the visitors. Usually the visitors will be given attendance by the relevant asst sales managers, but at times, the executives may be busy handling other customers and it may take longer than normal and that may leave other customer unattended. This customers can leave voice messages at the company’s voice mail box and the executive soon contacts them and serves them.

Internet Companying in India Indian industry, today, is in the midst of an IT revolution. The Services and the products like ‘Internet shopping,” “Tele-shopping,” “Internet portal,” “Web Casts,” “E-mailing,” etc., have become the buzzwords of the day and the Companies are trying to cope with the competition by offering innovative and attractively packaged technology based services to their customers. Internet based marketing is in its nascent stage in India. In India only 55% are ‘entry level’ sites, offering little more than confidential information and basic marketing materials. Only 8% offer ‘advanced transactions’ such as online shopping, transactions and cash management services. Presently, foreign and private Companies are much advanced in terms of the number of sites and their level of development.

Advantages: The main benefits of this office automation systems to Companies are cost savings, reaching new segments of the better customer service and satisfaction. The more transactions can be converted online, the more money will be saved. The cost of an electronic transactions is dramatically less when clone online as compared to at a . Online Companying strengthens the relationship between the service providers and the customer, because it brings Companying service directly to a customer’s home or office or in the mobile phones.

CHAPTER – IV FINANCIAL ANALYSIS

ANALYSIS OF FINANCIAL STATEMENTS

‘Financial Statements’ refer to formal and original statements prepared by a business concern to disclose its financial information. Financial statements are prepared for the purpose of presenting a periodical review on report on the progress by the management and deal with (i) the status of Investments in the business and (ii) The results achieved during the period under review. A financial statement is the result of the accounting process which begins with the recording of transactions. Accounting process involves recording, classifying and summarizing business transactions. Financial statements are the results of the third process namely summarizing. The team financial statement used in accounting refers at least two statements. • • Profit and Loss account Balance Sheet

Financial statements are prepared to review the state of investment in a business and result achieved during the specific period. They reflect recorded facts, accounting conventions and personal judgments. These statements are prepared at the end or for a given period of time for a business concern. But in case of limited companies financial statements also include profit and loss appropriation account. Besides the above, the most important is that it enables us to estimate future profitability and financial position of the company.

COMPARATIVE FINANCIAL STATEMENTS
Comparative financial statements is a tool of financial analysis that depicts change in each item of the financial statement in both absolute amount and percentage term taking the item in preceding accounting period as base.

Tools for comparison of financial statements. • • Comparative Balance Sheet Comparative Profit & Loss account

COMPARATIVE BALANCE SHEET
Comparative balance sheet analysis is the study of the trend of the same items, group of items in two or more balance sheets of the same business enterprise on different dates. Comparative balance sheet of an enterprise as on two or more dates can be used for comparing assets, liabilities and capital and ascertaining increase in those items.

COMPARATIVE PROFIT AND LOSS ACCOUNT
The profit and loss account shows the net profit or net loss on account of business operations. A comparative profit and loss account shows the operating results for a number of accounting periods so that changes in data in terms of money and percentage from one period to another may be known.

CHAPTER – V CONCLUSION

CONCLUSION
The present world is a fast changing one, where the trend, taste, likes, dislikes, technologies etc., keep changing often. The people today are more integrated with the rest of the world and are looking lonely for quality products. NITIN BEARINGS (NB) is the leading industrial technology products distribution Company. NB is also present online, and has pan-india presence thro strategic tie-ups with with several other companies to distribute the products and services through their own network of customers across all Indian states.and more than 50 offices in all states. I did my internship in NITIN BEARINGS. I gained lot of experience by doing this

internship. It also gave me a practical experience theoretically. The study reveals a better understanding about the current situation of the Company. First the Company manager just gave me a good introduction about all Companying activities and he said about all the departmental activities in the Company that are rendered to its customers, and he said about the hitech products available with the Company and also the various service supports regarding the same. Then, I came to know how to operate an industrial organization and all the procedures regarding the same and I learnt about the pre-sales and after-sales support that is offered to the customers. One month experience in NITIN BEARINGS thought me about the day to day activities of the Company and helped me to know about the current position of the Company. The accounts manager taught me about the mandatory regulations and the procedures which helped me to file the records. END OF PROJECT

THIS PROJECT WAS READ, APPROVED AND PERMITTED FOR SUBMISSION BY THE SENIOR MANAGEMENT OF

NITIN BEARINGS
DATE: 26.11.2009 PLACE : CHENNAI

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