SYNOPSIS

1)

Area and title of project work in first semester:
– Career in Banking Sector as an Accountant Manager. ii. Area – Life Insurance Corporation of India.
i. Title

2)

Area and title of project work in second semester:
i. ii.

Title – Career in Public Sector as a Manager. Area – Adecco Company of India.

3)

Area and option selected and survey conducted in 1st and 2nd semester:
i. ii.

Name of options – Accountant Manager. Area – Life Insurance Corporation of India (LIC).

A) In relation to selected option
i. ii.

Minimum age – 21yrs. Minimum educational qualification – Bachelor's Degree in Accounting or a related field and five years of professional accounting experience; OR, Nine years of professional accounting experience; OR, Any equivalent combination of experience and/or education from which comparable knowledge, skills and abilities have been achieved. Minimum technical qualification - Not required. Experience – 4-5yrs of experience and assisting in the creation and implementation of ERP system (SAP) would be an added advantage.

iii.

iv.

v.

Additional qualification – only after qualifying different departmental tests. Minimum daily working hours – 8hrs. Expected financial receipt in future – 50,000 to 70,000 per month. Detailed working procedure – Ability to work for long hours to establish the reporting and accounting systems, ability to meet deadlines, ability to work with others and establish strict financial discipline. The insurance giant opted for internet services for all its subscribers and developed massive networking for own usage and internal governance. While the pros and cons of internal networking remains concealed within the officials and hidden for the common customers, the customer portal somehow fails to satisfy the 21st century customers. Apparently, low bandwidth, unwise web page hyper linking, illogical page set ups, all just contribute to the irritation of common net age customers.The portal gives opportunity to register any policy to be tagged up with any one. As a matter of fact, if Mr. 'A' knows the policy number and premium value of certain policy 'X' of Mr. 'B,' 'A' can tag up 'X' with his own Profile in LICI portal and get all the details of the policy. Moreover, though the organization is officially known as Life Insurance Corporation of India, abbreviated, LICI, the portal welcomes a customer to LIC. As a result of all these, online payment of premium through the site could not be a popular option for the customers.

vi. vii. viii.

B)

In relation to selected option:
i. Availability of human resources/demand in market/availability of raw material: a) At national level – yes, availability of human resources and raw material is at national level. b) At state level c) At local level

either within the accounting department or a process affecting accounting and one or more other departments. and e-commerce. In general. iv. Availability of Corporation/Financial Resources/Loan Facility: a) At national level – yes.ii. information technology. b) At state level c) At local level iii. each accounting staff person was given more responsibility over their own work quality and given one or more special projects aimed at improving the efficiency and/or quality of one of our processes. availability of Financial resources and Loan facilities is at national level. 200 employees. Selected process/suggestions for increase in production: As the world becomes more interconnected via global systems and international commerce. . real estate. accountants will need to be life-long learners who work closely with people in such fields as marketing. we changed the distribution of responsibilities from the CFO down to the entry-level clerk. the need increases for accountants to be knowledgeable in international accounting standards as well as new technologies that assist management in making decisions. Result: There is an increase in work quality and output. production. In short. New Jersey. Selected process/targeted production: Goal: Apportion the Work in Accounting More Effectively Strategy: In finance.--Accounting manager. Goal: Improve Accounting Department Reports.

000 members today. Management Accounting is the wave of the futurebecause of the new management techniques of total quality management. Membership in the Institute of Management Accountants has grown from 97 charter members in 1919 to 90. But during my practical session. 2) Maintaining good relation. supervisory and customer service skills required. 3) Positive attitude. There is no . 5) Motivational attitude. Management Accounting is becoming as vital as financial Accounting and will become more and more vital in the near future. I learned many things like: 1) Leadership quality. 4) Good Communication skills. 6) Strong interpersonal.C) What is the difference you find during the project work between theory and practical classes? From theory I learned the theoretical part of management which gave me the solid base of principles regarding effective management. D) Suggestions for reducing the difference you find in point (C) By the end of this decade. just-in-time manufacturing and activity-based costing. The chapter number has now grown from 4 to 300. management accountancy and auditing will be seen as full and equal partners within the wider accountancy profession. in my overall conduct as an individual. 7) Ability to multi-task and work under pressure. Membership and student registrations have grown by 35 and 40 per cent respectively in the seven years since January 1986.

Skill in performing detailed and complex numerical computations and reports. E) Proficiency Promotion i. Knowledge of computerized accounting systems and applications to include main frame terminals/ personal computers. Knowledge and skill in supervisory practices and principles. 4. general software applications and keyboard facility. If your firm will be experiencing a reorganization. 1. Knowledge of accounting principles. Role of indirect skills for achieving success. why it's taking place and how it affects them. for instance. it's more . 2. Skill in both verbal and written communication.doubt that the public now has a much better understanding of the profession of management accountancy and the capabilities of Institute members. 5. Role of direct skills for achieving success. you need to assume a strong leadership role and share as much information as you can about the up-coming events. 3. Provide as much notification as possible. ii. practices and procedures. As an accounting manager. Let employees know exactly what is planned.

may worry that a particular change will hinder their teamwork. A group that thrives oncollaboration. their resistance may increase if you gloss over valid concerns. It's better to be honest about obstacles and then talk about how you plan to help your employees overcome them. seek necessary training. and adapt to the new structure. 1. These individuals may not necessarily be your senior employees--they could simply be those who are most respected within the department. Make sure you're communicating regularly. Plans. they may develop feelings of resentment and distrust. Often they can help turn reluctant employees into supporters through their own excitement about upcoming developments. Accommodate the individual needs of your staff members. In addition. Even if there aren't any updates to report. 2. try to anticipate their concerns. it's better to say so than to let people draw their own conclusions. directs. others may want to offer their ideas to you in one-on-one meetings. When employees are blindsided by the news. Encourage staff to approach you whenever they have questions. Make an effort to get key players to support the change. since some will assume the worst when they receive little information. be sure to address their primary issues.effective to inform staff well in advance so they can provide input. for example. organizes and schedules the activities of one or more specialized accounting functions. . When you speak with them. Be sure to acknowledge any potential hurdles. If staff members already have trepidation about change. Supervises activities of subordinates. Understand the Group Dynamic While some employees may prefer to participate in group discussions.

surveys or analyses of a complex and difficult nature for management. 7. detailed cost accounting information. 6. This position will be responsible for . Prepares and/or directs the preparation of special statistical reports.3. and expending of university assets. Interprets various accounting data. Researches and evaluates pertinent professional and related legal literature to establish and/or recommend changes to accounting procedures and operations. The Accounting Manager is responsible for all areas relating to financial reporting. F) Detailed assessment of yourself and the basis of direct and indirect skills in relation to selected option. control. develops and documents accounting and cost procedures and controls related to assigned tasks. 4. Analyzes. procedures and practices. Provides internal/external training both orally and in writing on accounting systems. 8. 5. analyzes reports and recommends and/or initiates actions to be taken. direction and consultation to university officials relative to fiscal planning. Provides operating cost visibility.

This position addresses tight deadlines and a multitude of accounting activities including general ledger preparation. Ensure an accurate and timely monthly. Ensure the timely reporting of all monthly financial information. quarterly and year end close. Monitors and analyzes department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy. The Accounting Manager supervises five staff accountants and is responsible for managing the team to ensure that work is properly allocated and completed in a timely and accurate manner. Supports budget and forecasting activities. The Accounting Manager will have contact with senior-level Attorneys and the firm’s Executive Director and Controller which requires strong interpersonal communication skills both written and verbal.developing and maintaining accounting principles. Ensure the monthly and quarterly Bank Compliance activities are performed in a timely and accurate manner. Obtain and maintain a thorough understanding of the financial reporting and general ledger structure. Ensure the accurate and timely processing of positive pay transactions. Assist the Controller in the daily banking requirements. . Collaborates with the other finance department managers to support overall department goals and objectives. financial reporting. practices and procedures to ensure accurate and timely financial statements. year end audit preparation and the support of budget and forecast activities.

Handle personnel issues relating to staff conflicts. and other finance and firm wide managers regarding financial results. Work with the Controller to ensure a clean and timely year end audit. special reporting requests and the like. Responds to inquiries from the Director of Finance. Assist in development and implementation of new procedures and features to enhance the workflow of the department. Support Controller with special projects and workflow process improvements. etc. Supervise the general ledger group to ensure all financial reporting deadlines are met. At university level a) Expectations b) Suggestions . At syllabus level a) Expectations b) Suggestions ii. Work with each direct report to establish goals and objectives for each year and monitor and advise on the progress to enhance the professional development of staff. performance issues.Advises staff regarding the handling of non-routine reporting transactions. absenteeism. Provide training to new and existing staff as needed. F) Expectation and suggestions in relation to selected option considering the present scenario: i. Controller.

Management Accounting is becoming as vital as financial Accounting and will become more and more vital in the near future. Some of the new ways of management include total quality management (TQM). At Self level a) Expectations b) Suggestions H)To what extent the selection opted by you help in your future? The role of Management Accounting in the future looks good. Based on the articles I read.iii. the need of Management Accounting has grown in proportion to the new management styles. Accounting has become an actual part of the management process. Membership in the Institute . These various types of management styles pull accounting into the company process more easily. management accountancy and auditing will be seen as full and equal partners within the wider accountancy profession. Membership and student registrations have grown by 35 and 40 per cent respectively in the seven years since January 1986. At Administration level a) Expectations b) Suggestions v. accounting has become more vital to the company as a whole. By the end of this decade. Management Accounting is going to be the wave of future for accounting. At examination level a) Expectations b) Suggestions iv. Because of new management techniques. therefore. just-in-time (JIT) production and purchasing methods and activity-based costing. Accountants are now becoming a larger part of cross functional teams and are being used more in the decision making process.

The chapter number has now grown from 4 to 300.K.LIC) . Management Accounting is the wave of the future because of the new management techniques of total quality management. just-in-time manufacturing and activity-based costing. Vijayan (Chairman) Shri.000 members today. BOARD OF DIRECTORS Members On The Board Of The Corporation Shri.of Management Accountants has grown from 97 charter members in 1919 to 90. Mehrotra (Managing Director .S. There is no doubt that the public now has a much better understanding of the profession of management accountancy and the capabilities of Institute members. D. T.

business and affairs of the company.Shri. Central Bank of India Shri D. except to the extent that the Constitution or the Act (Dairy Industry Restructuring Act 2001). Sooranad Rajashekhran Board of Directors The LIC Board of Directors is comprised of ten directors. Govt. and three independently appointed. Dasgupta (Managing Director .LIC) Shri. direct and supervise the management. Gopalan (Secretary.Sridhar. Ministry of Finance. (Managing Director .L. GIC of India) Shri S. Department of Financial Services. Ministry of Finance. expressly require those powers to be exercised by the Shareholders or by any other person. Directors have all the powers necessary to manage.K. seven farmer. Chairmain & Managing Director . A. of India) Shri.) Shri.LIC) Shri. Govt. Dena Bank) Dr. Thomas Mathew T. Yogesh Lohiya (Chairman cum Managing Director. Qualification requirements are than each shall be a . Directors and Shareholder Councillors. LIC has two levels of governance. R. Ashok Chawla (Finance Secretary. of India. Rawal (Chairman & Managing Director .

dairy farmer. I dare to say that no other three letters taken together are more recognised to the length and breadth of India than LIC. No Shareholder can exercise or contrast more than 1% of the maximum number of votes. There are four designated regions represented by seven elected directors.Murray King. HONOURED BY: “In the year 1956. stands as a synonym for insurance. for excellence in strengthening the economic fibre of this country. a current user of at least one of the company’s herd testing options and must submit at least 60% of their herd for artificial breeding to semen marketed by LIC. Shareholders within each region have one vote for each Co-operative control share held in respect of qualifying products and services on the farm in that region. the three letters ‘LIC’.” “The performance figures of LIC give an indication why LIC is dear to us. 245 Indian and foreign companies were nationalized and today. Bryan Guy Southern . for services. Directors are: Northern .Steve Poole.Murray Jagger Midland . why LIC is a Jewel in our crown and why we will continue to nurture LIC and grow it into a great organization . Ted Coats Central .Stuart Bay. Alvin Reid Directors serve a four year term with elections held on a rotational basis.

Brief History Of Insurance: The story of insurance is probably as old as the story of mankind.and they are welcome in every part of the world.” “LIC’s footprints are now to be found in many other countries in the world. to look after their savings. wherever Indians settle down – they have found many new homes.” P. Chidambaram Union Finance Minister Excerpts from speeches at the inaugural function of LIC’s Golden Jubilee Celebrations. 2005. wherever Indians are welcome . They too sought to avert the evil consequences of fire and flood and loss of life and were willing to make some sort of sacrifice in order to achieve security. and provide for protection as well as their retirement. September 1. Wherever Indians go . The same instinct that prompts modern businessmen today to secure themselves against loss and disaster existed in primitive men also. Though the concept of insurance is largely a development of .rendering service to the people of India.and they go everywhere now. Lucknow. they want LIC – they want LIC to protect them. wherever Indians excel – and they excel in every walk of life.

and covered Indian lives at normal rates. The Indian Mercantile. the foreign life insurance companies started insuring Indian lives. National Indian and National Insurance in Calcutta and the Co- operative Assurance at Lahore were established in 1906. But Indian lives were being treated as sub-standard lives and heavy extra premiums were being charged on them. General Assurance and Swadeshi Life (later Bombay Life) were some of the companies established during the same period. Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil. house of the great poet Rabindranath Tagore. In 1907. insurance companies came into existence to carry the message of insurance and social security through insurance to various sectors of society. Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870. The Life Insurance . All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and Indian natives were not being insured by these companies. The Swadeshi movement of 1905-1907 gave rise to more insurance companies. The United India in Madras.the recent past. Starting as Indian enterprise with highly patriotic motives. Prior to 1912 India had no legislation to regulate insurance business. Bharat Insurance Company (1896) was also one of such companies inspired by nationalism. Life Insurance in its modern form came to India from England in the year 1818. and the Provident Fund Act were passed. in Calcutta. However. Hindustan Co-operative Insurance Company took its birth in one of the rooms of the Jorasanko. later with the efforts of eminent people like Babu Muttylal Seal. In the year 1912. the Life Insurance Companies Act. particularly after the industrial era – past few centuries – yet its beginnings date back almost 6000 years.

The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956. apart from its corporate office in the year 1956. with the objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country. 1956.Companies Act.22. From 44 companies with total business-in-force as Rs. But the Act discriminated between foreign and Indian companies on many accounts. The Insurance Act 1938 was the first legislation governing not only life insurance but also non-life insurance to provide strict state control over insurance business. Since . initially the management of the companies was taken over by means of an Ordinance. LIC had 5 zonal offices. 33 divisional offices and 212 branch offices. The first two decades of the twentieth century saw lot of growth in insurance business. that life insurance in India was nationalized. The demand for nationalization of life insurance industry was made repeatedly in the past but it gathered momentum in 1944 when a bill to amend the Life Insurance Act 1938 was introduced in the Legislative Assembly.44 crore. it rose to 176 companies with total business-in-force as Rs. putting the Indian companies at a disadvantage. 1912 made it necessary that the premium rate tables and periodical valuations of companies should be certified by an actuary. and the Life Insurance Corporation of India was created on 1st September. and later. Nationalization was accomplished in two stages. However. the ownership too by means of a comprehensive bill. it was much later on the 19th of January. providing them adequate financial cover at a reasonable cost. 1956. 16 non-Indian companies and 75 provident were operating in India at the time of nationalization.298 crore in 1938. During the mushrooming of insurance companies many financially unsound concerns were also floated which failed miserably. About 154 Indian insurance companies.

The digitalized records of the satellite offices will facilitate anywhere servicing and many other conveniences in the future. 109 divisional offices. Hyderabad. Ahmedabad. As a result of re-organisation servicing functions were transferred to the branches.00 crores only in the year 1969-70.00 crore mark of new business. LIC continues to be the dominant life insurer even in the liberalized scenario of Indian insurance and is moving fast on a . Bangalore. The satellite offices are smaller. New Delhi. leaner and closer to the customer. Re-organization of LIC took place and large numbers of new branch offices were opened. Kolkata. Pune and many other cities. and branches were made accounting units. by 1985-86 LIC had already crossed 7000. LIC’s Wide Area Network covers 109 divisional offices and connects all the branches through a Metro Area Network.00 crores of New Business in 1957 the corporation crossed 1000. and it took another 10 years for LIC to cross 2000. 8 zonal offices. Apart from on-line Kiosks and IVRS.life insurance contracts are long term contracts and during the currency of the policy it requires a variety of services need was felt in the later years to expand the operations and place a branch office at each district headquarter. 992 satallite offices and the Corporate office. Chennai. But with re-organisation happening in the early eighties.00 crore Sum Assured on new policies. Info Centres have been commissioned at Mumbai. LIC’s ECS and ATM premium payment facility is an addition to customer convenience. LIC has tied up with some Banks and Service providers to offer on-line premium collection facility in selected cities. It worked wonders with the performance of the corporation. It may be seen that from about 200. Today LIC functions with 2048 fully computerized branch offices. With a vision of providing easy access to its policyholders. LIC has launched its SATELLITE SAMPARK offices.

From then to now. It has crossed the milestone of issuing 1. the first life insurance company on Indian soil started functioning. 1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. 1870: Bombay Mutual Life Assurance Society. LIC has issued over one crore policies during the current year. LIC has crossed many milestones and has set unprecedented performance records in various aspects of life insurance business. Some of the important milestones in the life insurance business in India are: 1818: Oriental Life Insurance Company. 2005.01. posting a healthy growth rate of 16. the first Indian life insurance company started its business. The same motives which inspired our forefathers to bring insurance into existence in this country inspire us at LIC to take this message of protection to light the lamps of security in as many homes as possible and to help the people in providing security to their families.955 new policies by 15th Oct. 1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. 1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses.67% over the corresponding period of the previous year. .new growth trajectory surpassing its own past records.32.

on the other hand. set up. Some of the important milestones in the general insurance business in India are: 1907: The Indian Mercantile Insurance Ltd. 1968: The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up. the first general insurance company established in the year 1850 in Calcutta by the British. 5 crore from the Government of India. frames a code of conduct for ensuring fair conduct and sound business practices. . 1957: General Insurance Council.. 1972 nationalised the general insurance business in India with effect from 1st January 1973. viz. 1972: The General Insurance Business (Nationalisation) Act. LIC Act. 1956. The General insurance business in India. a wing of the Insurance Association of India.1956: 245 Indian and foreign insurers and provident societies are taken over by the central government and nationalised. LIC formed by an Act of Parliament. the first company to transact all classes of general insurance business. with a capital contribution of Rs. can trace its roots to the Triton Insurance Company Ltd.

the Oriental Insurance Company Ltd. GIC incorporated as a company.. Objectives Of LIC • Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost. • .. Maximize mobilization of people's savings by making insurance-linked savings adequately attractive. and the United India Insurance Company Ltd. the National Insurance Company Ltd. the New India Assurance Company Ltd.107 insurers amalgamated and grouped into four companies viz.

Act as trustees of the insured public in their individual and collective capacities. Conduct business with utmost economy and with the full realization that the moneys belong to the policyholders. in the investment of funds. as it ought to be. without losing sight of the interest of the community as a whole. the primary obligation to its policyholders. Involve all people working in the Corporation to the best of their capability in furthering the interests of the insured public by providing efficient service with courtesy. the prominence of insurance is not as widely understood. whose money it holds in trust. Meet the various life insurance needs of the community that would arise in the changing social and economic environment. the funds to be deployed to the best advantage of the investors as well as the community as a whole. In our country. • • • • KNOW ABOUT LIFE INSURANCE OF INDIA Life insurance in India made its debut well over 100 years ago. which is one of the most populated in the world.• Bear in mind. keeping in view national priorities and obligations of attractive return. What follows is an attempt to .

or Unfortunate death. substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death of the breadwinner. with special reference to LIC. What Is Life Insurance? Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against. By and large. For more details. be clearly understood that the following content is by no means an exhaustive description of the terms and conditions of an LIC policy or its benefits or privileges. life insurance is civilisation's partial solution to the problems caused by death. Life insurance is universally acknowledged to be an institution. is . or Specified dates at periodic intervals. which eliminates 'risk'. The contract is valid for payment of the insured amount during: • • • The date of maturity. the contract also provides for the payment of premium periodically to the Corporation by the policyholder. Any LIC Agent will be glad to help you choose the life insurance plan to meet your needs and render policy servicing. please contact our branch or divisional office. Life insurance. It should. if it occurs earlier. in short.acquaint readers with some of the concepts of life insurance. however. Among other things.

At the time of taking a policy. The doctrine of disclosing all material facts is embodied in this important principle.concerned with two hazards that stand across the life-path of every person: 1. 2. Also. That of dying prematurely leaving a dependent family to fend for itself. in case of demise. That of living till old age without visible means of support. non-disclosure or fraud in any document leading to the acceptance of the risk would render the insurance contract null and void. life insurance assures payment of the entire amount assured (with . Other Savings Contract Of Insurance: A contract of insurance is a contract of utmost good faith technically known as uberrima fides. which applies to all forms of insurance. Protection: Savings through life insurance guarantee full protection against risk of death of the saver. Any misrepresentation. policyholder should ensure that all questions in the proposal form are correctly answered. Life Insurance Vs.

For example: The Salary Saving Scheme popularly known as SSS.bonuses wherever applicable) whereas in other savings schemes. Liquidity: In case of insurance. In this case the employer directly pays the deducted premium to LIC. quarterly. Aid To Thrift: Life insurance encourages 'thrift'. provides a convenient method of paying premium each month by deduction from one's salary. The Salary Saving Scheme is ideal for any institution or establishment subject to specified terms and conditions. . It allows long-term savings since payments can be made effortlessly because of the 'easy instalment' facility built into the scheme. Besides. a life insurance policy is also generally accepted as security. it is easy to acquire loans on the sole security of any policy that has acquired loan value. (Premium payment for insurance is either monthly. only the amount saved (with interest) is payable. half yearly or yearly). even for a commercial loan.

start-in-life or marriage provision or even periodical needs for cash over a stretch of time can be less stressful with the help of these policies. In such cases the assured in effect pays a lower premium for insurance than otherwise. Also. Who Can Buy A Policy? . such as.Tax: Life Insurance is the best way to enjoy tax deductions on income tax and wealth tax. Money When You Need It: A policy that has a suitable insurance plan or a combination of different plans can be effectively used to meet certain monetary needs that may arise from time-to-time. Alternatively. policy money can be made available at the time of one's retirement from service and used for any specific purpose. purchase of a house or for other investments. loans are granted to policyholders for house building or for purchase of flats (subject to certain conditions). Assessees can also avail of provisions in the law for tax relief. This is available for amounts paid by way of premium for life insurance subject to income tax rates in force. Children's education.

subject to certain conditions. Policies can also be taken. . the terms under which life insurance is granted to female lives have been reviewed from time-to-time. While underwriting proposals. after nationalisation of life insurance. certain factors such as the policyholder’s state of health. a restrictive clause is imposed.Any person who has attained majority and is eligible to enter into a valid contract can insure himself/herself and those in whom he/she has insurable interest. only if the age of the female is up to 30 years and if she does not have an income attracting Income Tax. However. women who work and earn an income are treated at par with men. In other cases. the proponent's income and other relevant factors are considered by the Corporation. Insurance For Women Prior to nationalisation (1956). on the life of one's spouse or children. At present. many private insurance companies would offer insurance to female lives with some extra premium or on restrictive conditions.

89 3.46 0.39 123.84 13.38 249.35 14.38 11.73 145.19 399.53 3.935.00 142.38 208.76 256.97 59.411.57 222.327.22 2.69 147.43 154.69 521.24 2.92 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06 .04 44.25 145.47 252.99 716.880.423.07 0.40 24.22 3.71 19.36 4.30 67.49 84.69 531.90 201.20 1.06 35.82 331.85 153.92 2.76 34.26 3.60 387.28 50.88 1.16 2.00 2.98 83.61 1.79 46.11 376.02 50.86 65.33 2.547.494.29 25.739.443.51 50.308.237.13 1.18 859.95 662.13 10.41 18.43 26.60 58.017.18 888.(Rs crore) Profit And Loss Account Mar ' 10 Income Operating income Expenses Material consumed Manufacturing expenses Personnel expenses Selling expenses Adminstrative expenses Expenses capitalised Cost of sales Operating profit Other recurring income Adjusted PBDIT Financial expenses Depreciation Other write offs Adjusted PBT Tax charges Adjusted PAT Non recurring items Other non cash adjustments Reported net profit Earnigs before appropriation Equity dividend Preference dividend Dividend tax 48.15 3.04 1.58 21.30 23.62 633.17 2.20 44.20 1.96 7.43 4.456.725.58 -3.09 661.83 84.089.65 191.40 1.57 -4.07 84.29 -0.092.42 1.73 279.107.019.34 74.93 14.95 10.15 286.11 1.00 110.37 910.93 524.17 6.72 10.116.93 19.84 0.

10 85.71 27.22 314.82 Mar ' 08 299.08 14.729.40 1.361.07 Mar ' 06 164.260.92 Total net current assets Miscellaneous expenses not written Total .14 16.556.41 23.29 909.676.56 43.90 24.19 1.43 12.Mar ' 10 Retained earnings (Rs crore) 721.84 85.98 3.523.113.92 Uses of funds Fixed assets Gross block Less : revaluation reserve Less : accumulated depreciation Net block Capital work-in-progress Investments Net current assets Current assets.12 41.125.68 85.03 22.381.746.388.876.721.40 Mar ' 09 503.099.26 20.14 36.014.145.58 17.64 17.371.51 31.05 15.16 23.43 15.655.51 22.08 18.129.00 1.70 Mar ' 07 208.75 19.11 0.24 0.02 774.655.84 594.40 Balance Sheet Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06 Sources of funds Owner's fund Equity share capital Share application money Preference share capital Reserves & surplus Loan funds Secured loans Unsecured loans Total 95.83 28.897.30 32.145.99 7.51 2.71 17.34 32.292.492.36 1.176.41 1. loans & advances Less : current liabilities & provisions 66.17 38.15 46.33 2.39 1.552.221.646.458.419.00 3.787.70 59.00 2.00 1.231.00 1.176.32 26.655.88 21.75 22.50 206.876.51 38.31 15.09 27.95 1.125.180.42 22.95 1.820.83 33.53 14.63 27.66 85.65 2.83 23.11 1.149.743.14 38.