Chapter 1
Profile of the Company

1. Introduction
Celfrost Innovations Pvt. Ltd. is a company founded by a group of professionals who have
dedicated its formative years creating the coolest commercial refrigeration & food-service
products venture in India. The fact that today we have a very comprehensive product range;
coming from the world's leading brands; supported by a national footprint of an over 100
strong team including channel partners, and patronized by a customer list that reads like a
"who's-who" in India, humbles us.
Since its inception, Celfrost has displayed a visionary understanding of emerging
opportunities in the field of commercial refrigeration and food-service. More importantly, the
company has proven its ability to transform these opportunities through innovative value
propositions for its customers. A blend of high quality products and a dependable, nation-
wide service backbone is at the core of these value propositions.
Celfrost has been on the cutting edge of technology and conservation. The Celfrost team is
committed to providing products that not only satisfy customer needs but also add value to
the equipment investment by reducing costs, improving productivity, ensuring reliability and
emphasizing food safety. The company strives to enable its customers in upgrading their
businesses by positively impacting the way they attempt to achieve their own great purposes.


Company’s Value Proposition:-
 Contemporary products with validates quality.
 A comprehensive product offering
 Nation-wide service backbone with spares support
 Professional management & advisory services
 Care for environment, safety, ergonomic & energy efficiency.

3rd Floor, SLV House,
Plot No. 14, Sector 44
Near Hotel Taj Vivanta, Institutional Area
Gurgaon - 122 002, Haryana, India
Phone: +91 124 4308430 / 2544555
Fax : +91 124 2544556
Email : corp@celfrost.com
Website: www.celfrost.com


2. Nature of the Organization
Celfrost brings to India, a truly international range of refrigeration, freezing and food-service
products & solutions for hotels, restaurants, bars, frozen yogurt stores, coffee shops, bakeries,
ice cream & beverage, food retail and the healthcare segments.
The company aims to provide, manage and continually operate a successful and sustainable
operation that provides refrigeration and cooling machine. At Celfrost innovation pvt.ltd,
safety and quality are non-negotiable. Whether it is in terms of convenience, health or
pleasure, they are able and committed to create trustworthy products, systems and services
that contribute to improving the quality of consumer’s lives.
The company believes that they will be successful in meeting the needs of their customers by
developing close contacts with them so that they have cordial relations with them. The
company will ensure that all their business operations are conducted in an ethical manner and
the value is added to their community by maintaining a familiar and friendly environment.
They serve their consumers by constantly challenging themselves to achieve the highest
levels of quality for their refrigeration machines, coolant machines and never compromising
on their safety standards. They do continuous improvement towards excellence as a way of
working and avoiding abrupt, one-time changes.
Celfrost Company is engaged in production i.e. producing the cooling system for
commercials purposes. Celfrost is also engaged in providing services to the world. Celfrost
has displayed a visionary understanding of emerging opportunities in the field of commercial
refrigeration and food-service.

Celfrost brings to India, a truly international range of refrigeration, freezing and food-service
products & solutions for hotels, restaurants, bars, frozen yogurt stores, coffee shops, bakeries,
ice cream & beverage, food retail and the healthcare segments.
Celfrost Innovation Pvt. Ltd. is currently serving at its best all over the world. Company is
direct distributor to many companies/franchises for its products (refrigeration system and
coolant machines or security safes and coffee machines). Some of them are:-
 McDonald
 Pizza Hut
 Bikanerwala
 Haldiram
 Pizza Corner
 Subway
 Dunkin Donuts
 Barista
 Costa Coffee
 Red mango
 Cocoberry
 Yogurtberry
 Le Meridien
 Taj
 Hyatt
 Park Plaza
 Radisson Blu

 Spencer, easyday, Reliance fresh,
 Amul, Vadilal
 Ranbaxy
 Pepsi, Del Monte
 Adlabs , Cinemax, Big Cinemas
 Infosys
 Bharat Petroleum

Functional Areas of the company:-
1. Production
2. Research and development (R & D)
3. Administration
4. Customer service
5. Distribution
6. Finance
7. Human resources
8. Marketing
9. Sales

Best functional area of the company is best in. - Refrigeration Equipment and Services for
Hospitality industry.


3. Vision
"To be the most
admired cooling &
food service solutions
company in India and
the markets we serve;
by offering the best
products available
globally and
making customer
service as our

The company mission is to serve the people best way and to provide the best quality to the
existing and new consumers. Company offers a wide range of product for new expected
consumers. This company tries to be as a friendly, caring and efficient organization whose
primary focus is on providing consumers with safe and convenient high quality cold storage
systems in the coming future.


4. Product Range
This Company offers a wide variety of systems to the big companies as follows:-
i. Deep freezers
a) Chest freezers
b) Glass Top freezers
c) Upright Freezers
d) Half Freezers Half Coolers
ii. Refrigerated Displays
a) Upright Coolers
b) Upright Freezers
c) Multideck Cabinets
d) Island Freezers
e) Ice Cream/Gelato Scooping Cabinets
f) Confectionary Showcases
iii. Professional Refrigeration
a) Reach-Ins
b) Undercounters
c) Saladettes & Prep Counters
d) Blast Freezers
iv. Ice Machines & Flakes
v. Bar Refrigeration Products
a) Wine Coolers
b) Bottle Coolers

c) Beer Coolers & Towers
d) Post Mix Beverage Dispensers
e) Undercounters & Black Bars
vi. Mini Bars
a) Absorption Refrigeration
b) Compressor Cooling
vii. Hotel Safes
viii. Cold Rooms
ix. Professional Coffee machines
a) Super-automatic Machines
b) Traditional Machines
c) Coffee Dosing Grinders
d) Accessories
x. Confectionary Showcases
xi. Bakery Products
xii. Food Preparation Products
xiii. Water Coolers
a) Storage Water Coolers
b) Bottled Water Dispensers
xiv. Blenders and Mixers
xv. Cold Dispensers
a) Soft Serve Ice Cream Machines
b) Juice Dispensers
c) Frozen Drink Dispensers
d) Jal Jeera Dispensers

xvi. Counter Top Cooking Products
xvii. Ovens
a) Microwave Combination Ovens
b) Impinger Ovens
c) Combi Steamers
xviii. Commercial Dish Washers
a) Glass Washers
b) Undercounter Dishwashers
c) Hood Type Dishwashers
d) Rack Conveyor Dishwashers
xix. Dessert ingredients
a) Frozen Yogurt
b) Gelato, Sorbets & Ice cream
c) Tenerissimo
xx. Medical Refrigeration Products


5. Size of the organization

In terms of Manpower
The number of employees working in the Celfrost Company is counted as 137. The focus is
on raising productivity through improved quality, efficiency and cost-reduction across their
total workforce, enabling clients to concentrate on their core business activities.
As the employees are the roots of any organization so , in order to serve them also company
provides number of utilities such as, transport, medical panel , good working condition and
refreshment on regular basis of time.
Making efficient employees directly reflects as the positive side, say, innovation, increase
growth and profit for the company.

In terms of turnover
Turnover of Celfrost Company gradually increases with the hard work of the management
and employees of the organization.
Last year the company’s turnover was 115 cr.


6. Organization structure

Celfrost Innovations Pvt. Ltd. is a company founded by a group of professionals who have
dedicated its formative years creating the coolest commercial refrigeration & food-service
products venture in India. The organization structure of the company is like this: - It has a
Managing director who sets the objectives of the company which will be completed in the
coming future. Then there are two executive directors who set small goals which indirectly or
directly achieve the objectives of the company set by the managing director. Then the
company has a senior general manager who supervises all the actions within the
organizations well as the external factors affecting the company’s working. Then we
company has a deputy general manager, Finance and Logistics manager who manages all rest
and main working factors of the organization. At the last, but the most important a customer
service manager who deals with the customers in various aspects.


7. Market share and position of the company in the industry

Celfrost Company enjoys being 5th position from staring in the industry of “COMMERCIAL
Celfrost Company tries to keep balance on the income and expenditure and overcomes the
limitations and tries to go further in the market. As at this time its position is 5
. Company is
started to plan the ways how they will cover the rest 4 positions and become the 1
company in the industry.
Celfrost Company is passionate about bringing innovative, world class products & solutions
to our customers who strive to raise the bar in their own business.
Celfrost Innovation Pvt. Ltd. believes that our employees, channel partners, vendors and each
person with whom we work are our true partners. We nurture talent. The youthful enthusiasm
and energy with which we approach each new experience drives us and our clients forward.


8. Present Leadership: -
Neeraj Seth, Managing director
Neeraj Seth is the Managing Director and one of the
co-promoters of Celfrost Innovations Pvt Ltd. A management graduate from University
Business School, Chandigarh he has a rich experience of over 30 years and has served
successful management stints with companies such as Blue Star, Usha International, and
Nerolac Paints. In Celfrost, he leads the strategic thinking, marketing, international sourcing
and vendor development functions and has steered the company over the last 8 years as one
of the fastest growing commercial refrigeration and food-service companies in India. He is
based out of Gurgaon.
Satish K. Dudeja, Executive director
Satish K. Dudeja joined the Celfrost board in 2006 as Executive Director, to head the
company's foray in the highly promising Cold Storage and Kitchen Projects business. He has
driven these assignments with great success and is also the technical face of Celfrost. He is a
Mechanical Engineering graduate and a Post Graduate in Marketing & Sales Management,
with a rich experience of having worked for over 21 years with companies such as Blue Star,
Frick India Limited, Freeze King Industries and CIMMCO Ltd. He is based out of Gurgaon.


During my summer training, in the company I have got a chance to interact with one of the
executive director of the company – Mr. SATISH K. DUDEJA. He is very kind and helpful
person. He helped me to get comfortable with the company’s environment. Though Human
resource department also do that but he was very gentle.
I worked under Mr. Hanuman, from Accounts Department. He helped me to get ease with the
paper work and the software they were using to manage their accounts. I have also interacted
with sales department supervisor and two more staff from accounts department. They all were
jolly in nature and welcome me in their organization. They explain me some of the working
of the company as I will assist them in their work.

9. Source of Data Collection
 Nature of the organization – Company’s catalogue, company’s website
 Mission and vision of the company – Company’s website
 Product range – Company’s website and employees
 Size of the organization – Management
 Organization structure of the company – Company’s website
 Present leadership – Company’s website and employees.


Chapter 2
SWOT Analysis

SWOT analysis (alternatively SWOT Matrix) is a structured planning method used to
evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in
a business venture.
It involves specifying the objective of the business venture or project and identifying the
internal and external factors that are favorable and unfavorable to achieving that objective.
Setting the objective should be done after the SWOT analysis has been performed. This
would allow achievable goals or objectives to be set for the organization.
1. Strengths: characteristics of the business or project that give it an advantage over
2. Weaknesses: are characteristics that place the team at a disadvantage relative to others
3. Opportunities: elements that the project could exploit to its advantage
4. Threats: elements in the environment that could cause trouble for the business or


SWOT Analysis of Celfrost Pvt. Ltd. Company
1. Strong Market Position: - Company enjoys the 5
And REFRGERATION” which gives positive effect to the sales as other companies get easy
access to purchase products.
2. Quality Product: - Celfrost Pvt. Ltd. always tries to satisfy its customers through good
quality products which builds goodwill for the company.
3. Skilled and Efficient Workers: - With its efficient and skilled team company maximizes
the profit by increasing sales by marketing skills satisfies customers by its good after sale
4 Innovations: - Celfrost company tries innovative ideas to make customers happy and
5. Effective distribution channel and communication techniques: - With a team of skilled and
experienced workers company uses different techniques to communicate with new and
existing customers of the firm. They choose effective distribution channel to market their
6. Customer Satisfaction/ Query handling: - With proper mechanism of assessing needs of the
customers, company tries to satisfy customers and handle the queries of the customers, thus
as a whole increase business for the company.
7. Proper management for inventories, logistics: - Having a proper team to manage the
inventories at warehouses leads to less cost and increased turnover for the company.

1. LOOSE inventory control which should be tightened more.
2. There are some low profitable SKU's.,which are to be reduced
3. There are less number of brand center so less reach in the Indian market, which
should be improved.

1. People are heading towards automatic machines for all purpose which act as an
opportunity for the company. This is, nowadays, people have become used to the machines;
they have become dependent on the machines for most of the things. And there are researches
going for all of the activities to be automatic. Celfrost having automatic machines base, will
serve the country very well in the coming years.
2. Youth is becoming attracted towards the automatic working conditions which create
vacancies for new generation. As a growing company, Celfrost Pvt. Ltd. will demand more
workers to join which will create employments which directly help the economy to growth.
3. There is limited number of companies in commercial refrigeration in India so this is an
opportunity for company to expand in vertical and horizontal level. This is the time where
there is not more competition in the market, so there is a chance of expanding the business
right now. And become the number 1 company as soon as possible. This is the right time /
opportunity for the company.

1. Increasing raw material prices.
In the fast pacing life everything is going on a high pitch. So as the, prices of raw materials is
getting high. The new –new technology is making the working simpler but making the cost
high. Which ultimately becomes a threat to both – company as well as the customers as the
price of the commodity is also increased.
2. Growing competition in all over World.
This is a new line of operating so there is more number of companies trying to get into the
market. And when there is word of world the competition is very high because of much
developed country than India everywhere in terms of technology and manpower which is
threat to any and Celfrost Company.
3. Present economic conditions of India may create problem in company working.
This is true present state of Indian economy is very bad; the foreign currency is appreciating
with respect to ours. And in this scenario companies are facing many problems in their
working sections. These types of unavoidable conditions may become a threat to the








Chapter 3
Financial Analysis of the company

1. Debt-Equity Ratio = Total liabilities / Shareholder’s equity
2. Current Ratio = Current assets / current liabilities
3. Return on Investment = Net Profit after interest & tax / Total Assets
4. Quick Ratio/Acid test ratio = (Current assets - Inventory) / Current liabilities
5. Gross profit ratio = Gross Profit / Net Sales

1. Debt-Equity Ratio
The debt to equity ratio is a financial metric used to assess a company’s capital structure, or
“capital stack”. The debt to equity ratio (also called risk ratio or leverage ratio) measures the
relative proportions of the firm’s assets that are funded by debt or equity.
Debt-Equity Ratio = Total liabilities / Shareholder’s equity


In year 2011
Debt-Equity Ratio = Total liabilities / Shareholder’s equity
Shareholder’s equity = Total assets- Total liabilities
= 331,937,203-251631510
Shareholder’s equity = 80,305,693

Debt equity ratio= 251631510 / 80,305,693
= 3.133
In year 2012
Debt-Equity Ratio = Total liabilities / Shareholder’s equity
Shareholder’s equity = Total assets- Total liabilities
= 419,080,867- 309,551,133
Shareholder’s equity = 109,529,734
Debt equity ratio= 309,551,133 / 109,529,734
= 2.826


This ratio determines the amount of financial leverage a company is using, and thus its
exposure to interest rate increases or insolvency. A low debt to equity ratio is preferable as it
indicates less amount of money on debt.
Company has reduced this ratio which is a good step in the working of the company.
Company has decreased the ratio to 2.826 from 3.133; a 0.307 difference.


2. Current Ratio

Current ratio is a measure of liquidity of a company at a certain date. It must be analyzed in
the context of the industry the company primarily relates to. Businesses must analyze their
working capital requirements and the level of risk they are willing to accept when
determining the target current ratio for their organization. Increase in current ratio over a
period of time may suggest improved liquidity of the company or a more conservative
approach to working capital management. Higher the ratio better it is for the organization.
Current Ratio = Current assets / current liabilities

In year 2011
Current Assets = 313,589,869
Current Liabilities = 221,125,110
Current Ratio = Current assets / current liabilities
Current Ratio = 313,589,869/ 221,125,110
= 1.418


In year 2012
Current Assets = 401,213,566
Current Liabilities = 279,710,100
Current Ratio = Current assets / current liabilities
Current Ratio = 401,213,566 / 279,710,100
= 1.434

Companies aims to maintain a current ratio of at least 1 to ensure that the value of their
current assets cover at least the amount of their short term obligations. However, greater than
1 ratio provides additional cushion against unforeseeable contingencies that may arise in the
short term.
Company has increased its current ratio from 1.418 to 1.434, with not much margin but is
trying to improve periodically. 0.016 is the improvement in this ratio.

3. Return on Investment
Return on investment (ROI) is performance measure used to evaluate the efficiency of
investment. It compares the magnitude and timing of gains from investment directly to the
magnitude and timing of investment costs. It is one of most commonly used approaches for
evaluating the financial consequences of business investments, decisions, or actions.
Return on Investment = Net Profit after interest & tax / Total Assets


In year 2011
Net profit after interest and tax =24,704,876
Total assets = 331,937,203
Return on Investment = Net Profit after interest & tax / Total Assets
Return on Investment = 24,704,876/ 331,937,203
ROI = 0.074

In year 2012
Net profit after interest and tax =33,840,530
Total assets = 419,080,867
Return on Investment = Net Profit after interest & tax / Total Assets
Return on Investment = 33,840,530 / 419,080,867
ROI = 0.080


If an investment has a positive ROI and there are no other opportunities with a higher ROI,
then the investment should be undertaken. A higher ROI means that investment gains
compare favorably to investment costs. Company though not increases at high rate but is
increasing slowly. It has shown an growth of 0.006% i.e., from 0.074 to 0.080.

4. Quick Ratio/Acid test ratio
Quick ratio or Acid Test ratio is the ratio of the sum of cash and cash equivalents, marketable
securities and accounts receivable to the current liabilities of a business. It measures the
ability of a company to pay its debts by using its cash and near cash current assets (i.e.
accounts receivable and marketable securities).
Ideal quick ratio is 1:1

Quick Ratio/Acid test ratio = (Current assets-Inventory)/ Current liabilities

In year 2011
Current assets = 313,589,869
Inventory = 110,449,976
Current liabilities = 221,125,110
Quick Ratio/Acid test ratio = (Current assets-Inventory)/ Current liabilities
Quick Ratio/Acid test ratio = (313,589,869 – 110,449,976) / 221,125,110
= 203,139,893/221,125,110
= 0.918

In year 2012
Current assets = 401,213,566
Inventory = 153,529,898
Current liabilities = 279,710,100
Quick Ratio/Acid test ratio = (401,213,566 – 153,529,898) / 279,710,100
= 247,683,668 / 27,910,100
= 0.885

A quick ratio of more than one indicates that the most liquid assets of a business exceed
its total debts. On the opposite side, a quick ratio of less than one indicates that a business
would not be able to repay all its debts by using its most liquid assets. In other words, If
quick ratio is higher, company may keep too much cash on hand or have a problem collecting
its accounts receivable. A quick ratio higher than 1:1 indicates that the business can meet its
current financial obligations with the available quick funds on hand.
A quick ratio lower than 1:1 may indicate that the company relies too much on inventory or
other assets to pay its short-term liabilities.
Company decreased/ maintained this ratio around 1. i.e., in 2011-0.918 and in 2012-0.885.


5. Gross profit ratio
Gross profit ratio (GP ratio) is a profitability ratio that shows the relationship between gross
profit and total net sales revenue. It is a popular tool to evaluate the operational performance
of the business. The ratio is computed by dividing the gross profit figure by net sales. It is
expressed as percentage (%).
Gross profit ratio = Gross Profit / Net Sales
In year 2011
Gross Profit = 224,001,761
Net Sales = 729,730,377
Gross profit ratio = Gross Profit / Net Sales
Gross profit ratio = 224,001,761/ 729,730,377
= 0.3069

In year 2012
Gross Profit = 283,056,895
Net Sales = 936,404,385
Gross profit ratio = Gross Profit / Net Sales
Gross profit ratio = 283056895 / 936404385
= 0.3022

Gross profit is very important for any business. It should be sufficient to cover all expenses
and provide for profit. There is no norm or standard to interpret gross profit ratio (GP ratio).
Generally, a higher ratio is considered better.
The ratio can be used to test the business condition by comparing it with past years’ ratio and
with the ratio of other companies in the industry. A consistent improvement in gross profit
ratio over the past years is the indication of continuous improvement. When the ratio is
compared with that of others in the industry, the analyst must see whether they use the same
accounting systems and practices.
Company ratio is decreased in comparison to the last year. From 0.3069 to 0.3022 it is
decreased. Company is doing more work to recover and mange the fault in the production or
in any department. Company will cover this gap in the coming years.


Chapter - 4

1. Experience About The Working Environment
There was a complete different environment in the company premises. The atmosphere was
very good. I am pleased that I have got the chance of getting a hand with one of the
company’s executive director. What a person he was; so humble, so helpful, I can’t explain
his nature in few words. Then the department where I was putted, there also the manager
from accounts department, helps me a lot to have a good understanding with the peoples
around me. He gave me interesting and challenging tasks, asked me for my opinion, we
exchanged ideas and discussed about business related issues. I their manage the papers of
accounts from all over the India i.e., Sales vouchers, Purchase vouchers, Balance sheets,
Credit Notes, Debit Notes etc . But in all my way my supervisor always helped me, and
guided me to be on the right direction. There I got chance to see the company’s insurance
papers, though I didn’t get that but one of the manager just give an overview of that policy.
As good working condition is necessary in all the offices to work on a peaceful note, Celfrost
also provides the same platform so that one can easily and comfortable do the paper and
system work in the organization premises. In general, there was a friendly tone of
communication among the colleagues. The members were working as a team for the
objectives of the management so; there I also got a chance to get my hands also in it. An
important thing was that, being a trainee I was given full attention, so I was boosted with the
confidence and these kinds of things acts as an extrinsic motivation factors. Regular and
particular interval of time was given to refresh ourselves and then get back to work. The
environment was overall good.

2. Briefly explain the practical knowledge you gained during your summer training in terms
of practices followed by the company in different functional areas of management.

I went to Celfrost Pvt. Ltd. Deals in refrigeration, cooling plants and hospitality equipments
to gain practical knowledge in my summer training. Celfrost is having offices all over India
and head office at Gurgaon, Haryana.
To start with, I must admit experience is experience and there is no alternative.
Talent cannot be matched with experience. It was first work experience. Be it maintaining
relations with people, or focusing more on work, I tried all my book knowledge to get better
results. There I felt, what synergy is, where lot of people work together in single direction.
Though, they didn’t provide us their computers for work as it would have caused some delay
in their work. I learned so many things by observing them how their finance section used to
function, how accounts were managed.
I gained many things in my personality like, feeling of work, improved my self esteem,
punctuality and dress sense improved me further. I got a different dimension in my thinking
and ethical values. What we learn in management books, I experienced that to some extent.


3. Difficulties
1. Practical knowledge
So far in our studies, we only get the theoretical knowledge of the business
activities, which in the company creates a problem in the beginning. The
company requires practical knowledge and at this level we don’t have that, so
there is a delay to understand about the company’s working. So being just a student
I go through many different kinds of problems in my training that was challenging for me.
2. Mixing in the organization
Be it someone nature, or their workload, some of the people were of reserved
nature and aggressive too. All the members cannot be same, so I also faced
another side of coin i.e., being uncomfortable in some particular situation. But
whatever the conditions may be, I worked there and coordinate with them.
3. Workload
Being just a student, a trainee, I felt some pressure of the work many times. Now I understand
the meaning of real workload. As they gave facilities to me, they gave me work too.



1. Double Entry Book Keeping: Accounting for Partnership Firms and Companies, by
T.S. Grewal, 2013 edition.
2. Analysis of Financial Statements by TS Grewal, 2013 edition.
3. Financial Accounting for Managers by Sanjay Dhamija, 2012 edition.
4. Basic Accounting by HIRO and SOFAT, 2010 edition.
5. Financial Accounting by MK.Gupta C.L. Chaturvedi.
6. Financial Accounting for BBA by V.K Goyal and Ruchi Goyal.

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