PROJECT REPORT

On
CADBURY
M.Com IV Sem – Accounting
(Session 2020-21)

THE BHOPAL SCHOOL OF SOCIAL SCIENCES

Submitted To Submitted By
Dr. Amrita Sahu Priyanshu Pandiya
Associate Professor Roll No.-19103039
Department of Commerce

CERTIFICATE FROM THE PROJECT GUIDE

This is to certify that the Project Report titled “Quantitative Analysis of Cadbury”
is a bonafide work of Priyanshu Pandiya enrolment number R163291460052 undertaken
for the partial fulfillment of Masters in Commerce (M. Com) degree of Barkatullah University
under my guidance. This project work is original and has not been submitted earlier for the award
of any degree or diploma of any other University or Institution.
 Signature of the Guide
Dr. Amrita Sahu
Associate Professor
Department of Commerce,
BSSS, Bhopal

DECLARATION
I Priyanshu Pandiya daughter of Rajendra Pandiya certify that the project report entitled
on “Quantitative analysis of Cadbury”, Quantitative analysis report on Cadbury, prepared by me
is my personal and is authentic work under the guidance of Dr. Amrita Sahu, Associate
Professor, Department of Commerce.

Date: 14/6/2021 Signature of the Student

Place: BHOPAL Name: Abhishek Singh
Class: M.COM (IV SEMESTER)
Roll Number: 19103039
 Introduction
Throughout history chocolate has been associated with romance and sharing. Today the richness
and smoothness of Cadbury chocolate is what makes it one of the world's favorite treats.

History Of Cadbury
Cadbury, formerly Cadbury's and Cadbury Schweppes, is a British multinational confectionery
company fully owned by Mondelez International since 2010. It is the second largest confectionery
brand in the world after Mars.

Cadbury was established in Birmingham, England in 1824, by John Cadbury

In 1824, John Cadbury, a Quaker, began selling tea, coffee and drinking chocolate in Bull Street
in Birmingham, England.

From 1831 he moved into the production of a variety of cocoa and drinking chocolates, made in
a factory in Bridge Street and sold mainly to the wealthy because of the high cost of production.
In 1847, John Cadbury became a partner with his brother Benjamin and the company became
known as "Cadbury Brothers".

In 1875, a Swiss manufacturer called Daniel Peter added milk to his recipe to make the first milk
chocolate bar.

1875 Cadbury made their first chocolate Easter egg.

In 1878, the brothers decided to build new premises in countryside four miles from Birmingham.
The move to the countryside was unprecedented in business.
In 1905, Cadbury launched its Dairy Milk bar, a production of exceptional quality with a higher
proportion of milk than previous chocolate bars. Developed by George Cadbury Jr, it was the
first time a British company had been able to mass-produce milk chocolate

Cadbury In India
In 1948, Cadbury India began its operations in India by importing chocolates. On 19 July 1948,
Cadbury was incorporated in India.
Since 1965 Cadbury has also pioneered the development of cocoa cultivation in India. For over
two decades, Cadbury has worked with the Kerala Agricultural University to undertake cocoa
research.
Ltd, Manu Anand has joined Mondelez International Inc. as president India and South Asia and
managing director of Cadbury India.

Branches Of Cadbury

Cadbury has its head office at Cadbury House in the Uxbridge Business Park
in Uxbridge, London Borough of Hillingdon, England.
Cadbury's top 3 markets. the U.K., Australia and India.
In 1948, Cadbury India began its operations in India by importing chocolates. On 19 July 1948,
Cadbury was incorporated in India. It now has manufacturing facilities in Thane, Induri (Pune)
and Malanpur (Gwalior), Hyderabad, Bangalore and Baddi (Himachal Pradesh) and sales offices
in New Delhi, Mumbai, Kolkata and Chennai. The corporate head office is in Mumbai. The head
office is presently situated at Pedder Road, Mumbai, under the name of "Cadbury House"

Products of Cadbury
Cadbury Dairy Milk chocolate is made with fresh liquid milk – a glass and a half for every half
pound of chocolate to be precise. It quickly became the market leader in the UK after it was
launched in the early 1900s. Cadbury Dairy Milk is now enjoyed in 33 countries, including in the
UK, Australia and New Zealand. Available in more than 23 varieties, like Fruit & Nut, Whole
Nut, Snack, Caramello and Breakaway, Cadbury Dairy Milk deligh

5Star is an irresistible combination of taste and texture! This novel concept in the chocolate
world set a new revolution in the making of chocolates with the introduction of smooth milk
chocolate, caramel and nougat. A favorite in India for more than 40 years, 5 star launched in
2016 in Brazil under our Lacta brand and in Malaysia and Philippines under our Cadbury brand.
In India, 5 Star is available in several varieties: Classic, Fruit & Nut, Crunchy and Chomp.
The bittersweet dark intensity of pure cocoa lingers to reveal a richly sensoric experience. A
truly delectable indulgence that will seduce the most discerning of palates.
Cadbury Bournvita malted drink debuted in 1948 in India, the same year Cadbury India was
established. In India, Cadbury Bournvita is one of India’s most trusted brands and comes in both
a chocolate-and-caramel flavor called Cadbury Bournvita 5 Star Magic. In Nigeria, Cadbury
Bournvita comes in a 500g size and it’s known as “the food drink for vitality” and is endorsed by
the Nutrition Society of Nigeria.

Mondelez India's Cadbury Cocoa & Hot Chocolate are one of the very few branded ingredient
products sold in the Indian market, today. More so, they are the only ones that provide the real
taste of Cadbury to your recipes.
Cadbury Gems is chocolate flavor, rich and chocolate buttons. Introduced in India in 1968, the
rainbow-hued Cadbury Gems is unique in attraction and comes in a range of packs. What
makes Gems different is the way the chocolate has been designed as colorful candy. Gems can be
used to embellish puddings, cakes, biscuits, homemade chocolates and cookies. It is colourful,
tasty and fun. Gemsis loved by everyone. Add to any dessert for that extra touch or just eat it
how it is for a guaranteed burst of flavours in your mouth
Traditionally, there were Indian sweets (the mithai) and there were chocolates. Then
came Cadbury Celebrations … and the gap was bridged.
Cadbury Celebrations debuted on the Indian festival stage in 1997 - serving up a tantalizing mix
of chocolates in all shapes, sizes, flavors and packages at the many traditional festivals of India,
positioning chocolate as a fitting replacement for the traditional mithai.
Introduced to the legendary Éclairs in 1971. In 2013 it was rechristened as Cadbury Choclairs to
ensure that the name of the legendary candy remained consistent globally - as Choclairs are now
available in China and Malaysia.
Cadbury Choclairs can take you on a delicious journey through a layer of pure caramel to a heart
of rich Cadbury chocolate.

Objective Of Analysis

Mondelez India a continues to support Covid-19 Relief Efforts

Commits to donate 360,000 units of biscuits and 2.3 million units of chocolates to India
FoodBanking Network across 12 major cities Close to 100,000 meals provided by employees
through a company association with Akshaya Patra Foundation.
Cadbury Dairy Milk expresses gratitude to COVID warriors with ‘Thank You’ bars

Mondelez India will launch limited edition of Cadbury Dairy Milk bars by replacing the brand
logo with 'Thank You' to highlight the country's spirit and generosity amid the covid-19
Mondelez India, the makers and bakers of some of India’s favourite snacking brands – Cadbury
Dairy Milk, Cadbury Bournvita, Oreo etc., today announced an additional relief contribution of
over 70 tons of products to support relief workers and the migrant population during times of
Covid-19. The company in total has donated over 140 tons of Chocolates, Biscuits and
Beverages to India FoodBanking Network (IFBN) across 20 cities. Of this, India’s trusted MFD
brand Cadbury Bournvita will be directed to hospitals. The company is also donating dry ration
kits to support over 8600 families (approx. 43,000 beneficiaries) in communities around its
factory locations in Himachal Pradesh, Madhya Pradesh, Andhra Pradesh and Maharashtra.
Commenting on the relief efforts, Ophira Bhatia, Director – Corporate & Government
Affairs, India, Mondelez International, said, “We are proud that globally Mondelez
International has donated well over $20 million in cash and in-kind donations to advance Covid-
19 pandemic relief efforts surpassing our $15 million global commitment! As a company that has
had close to 75 years of commitment to India, we are providing our much loved products – that
are safe, easy to consume and tasty – to workers in the frontline who are striving to bring this
pandemic under control. Our products are also being given widely to the needy as well as
migrant workers traveling back to their homes. We also continue to support the communities
around our manufacturing locations with dry rations to tide them over these difficult times. It is
heartening to see every part of our business – our colleagues, our brands also pitch in to support
Covid-19 relief efforts.”
The employees of the company have also donated 110,000 meals to the poor and needy through
the Akshaya Patra Foundation, through employee giving. Our brands like Cadbury Dairy Milk
continue to live their purpose by launching a limited-edition Cadbury Dairy Milk ‘Thank You’
bar, in recognition of the generous spirit of the country’s unsung heroes during these difficult
times. The company has committed part proceeds from sale of these special chocolate bars
towards health insurance policies of the daily wage earners, via a partnership with Nirmana, an
NGO that works with the unorganized sector.

• The company donated 1,00,00 masks, 45 sanitizer cans of 5 litters and 3,000 sanitizer
bottles of 50 ml across hospitals and police stations in Mumbai to support the
Maharashtra state government in this fight against Covid-19
• To provide aid at local factory locations of Induri, Sri City, Baddi & Malanpur, the
company distributed about 1,800 relief kits – consisting of critical masks and
sanitizers and some snack products like Chocolates, Biscuits and Tang.

• Colleagues of Mondelez India collectively facilitated about 110,000 meals, through

the Akshaya Patra Foundation

• Launched Limited-Edition Cadbury Dairy Milk ‘Thank You’ Bar, to facilitate India’s
spirit of generosity. The company also committed part proceeds from Limited-
Edition ‘Thank You’ Bar sale towards health insurance policies of the daily wage
earners, via a partnership with Nirmana, an NGO that works with the unorganized
sector.

• Donated 650 kgs Bourvita biscuits and 350 kgs Bournvita to St. Jude India Child
Care Centres to help children undergoing cancer treatment.

• Contributes an additional 70 tons of Chocolates, Biscuits & Beverages to IFBN,

making it a total of over 140 tons of products

• The company is also helping over 8600 families / 43,000 beneficiaries by

contributing 2 weeks of dry ration kits to support families around its 4 factory
locations

Mondelez International has posted 7.9% revenue growth in the first quarter with
improving performance in its emerging markets – after achieving double-digit growth in
Cadbury Dairy Milk along with high-single growth in Oreo.

With net revenue to $7.24bn and gross profit increased to $515m, the confectionery giant said
that the Q1 rise in its 2021 results was driven by organic net revenue growth of 3.8%, thanks to
favourable currency and the impact of its acquisitions of Give & Go and Hu.

In an earnings call to investors, Luca Zaramella, Mondelēz Executive Vice President, Chief
Financial Officer, said chocolate grew more than 10% for the quarter, with a two-year average of
6.5%.

Problems

Mondelez report finds snacking a ‘lifeline’ during COVID-19

Dirk van de Put is a Belgian businessman, and the chairman and chief executive officer of
Mondelez International. COVID-19 figured heavily into the findings from the second annual
State of Snacking report released Nov. 11 by Chicago-based Mondelez International, Inc. Forty-
six percent of respondents said they were snacking more during the pandemic than before it,
which compared with 42% who said the same and 12% who said less. Fifty-two percent said
snacking has been a “lifeline” during the pandemic.

Mondelez will take a new approach to reach those consumers. The company on Nov. 11 also
announced a “humaning” global marketing strategy that emphasizes human connections.
Mondelez gave examples of “humaning” as Oreo becoming involved in a #ProudParent
platform, a Cadbury Dairy Milk campaign in the United Kingdom to tackle the crisis of elderly
loneliness, and a Cocoa Life sustainable cocoa business model.
Confectionery major Mondelez, owner of the Cadbury brand, said that it
had recovered from disruptions caused by the Covid-19 pandemic and
nationwide lockdown in India in April and May, reporting mid single-digit sales growth
in June.

Revenue collection or Cash flow before or after covid

MONDELĒZ INTERNATIONAL REPORTS Q1 2021 RESULTS

• Net revenues increased 7.9% driven by Organic Net Revenue 1 growth of 3.8%,
favorable currency and acquisitions
• Diluted EPS was $0.68, up 33.3%; Adjusted EPS 1 was $0.77, up 10.6% on a
constant-currency basis
• Cash provided by operating activities was $915 million; Free Cash Flow 1 was
$699 million
• Return of capital to shareholders was $1.5 billion

CHICAGO, April 27, 2021 (GLOBE NEWSWIRE) -- Mondelēz International, Inc

"Our first quarter results demonstrate that we are emerging from the COVID-19 pandemic
stronger, as we continue to build upon our track record of robust growth, profitability and
cash generation," said Dirk Van de Put, Chairman and Chief Executive Officer. "We saw
continued improvement across emerging markets, healthy demand in developed markets
and another quarter of strong share performance. We remain squarely focused on
accelerating growth by further strengthening our core brand and expanding our presence
in high-growth channels, categories and adjacencies. Our strategy is working, and our
business is better positioned than ever before.”
Net Revenue

$ in millions Reported
Net Revenues Organic Net Revenue Growth
Q1 2021 % Chg
vs PY Q1 2021 Vol/Mix Pricing
Quarter 1
Latin America $ 669 (7.9 )% 7.2 % (2.9)
pp 10.1 pp
Asia, Middle East & Africa 1,745 16.2 10.8
7.9 pp 2.9
Europe 2,847 10.2 3.3 2.4 pp 0.9
North America 1,977 4.3 (2.3 ) (2.8)
pp 0.5
Mondelēz International $ 7,238 7.9 % 3.8 %
1.5 pp 2.3 pp

Emerging Markets $ 2,563 6.0 % 9.9 %

4.7 pp 5.2 pp
Developed Markets $ 4,675 9.0 % 0.4 %
 (0.2) pp 0.6 pp
Net revenues increased 7.9 percent driven by Organic Net Revenue growth of 3.8
percent, favorable currency, and incremental sales from the company's
acquisitions of Give & Go and Hu. Volume and pricing drove Organic Net
Revenue growth, partially offset by unfavorable mix.

CADBURY Cash Flow Statement

Net Income/Starting Line 345.11

Cash From Operating Activities 2,217.59

Depreciation/Depletion 347.86

Amortization 14.61

Deferred Taxes -
Non-Cash Items -22.54

Cash Receipts -

Cash Payments -

Cash Taxes Paid 0

Cash Interest Paid 0

Changes in Working Capital 1,532.55

Cash From Investing Activities -167.62

Capital Expenditures -206.83

Other Investing Cash Flow Items, Total 39.21

Cash From Financing Activities 1,505.41

Financing Cash Flow Items 0

Total Cash Dividends Paid -178.46

Issuance (Retirement) of Stock, Net -

Issuance (Retirement) of Debt, Net 1,505.41

Foreign Exchange Effects 30.02

Net Change in Cash 3,555.38

Beginning Cash Balance -

Ending Cash Balance -

Free Cash Flow -

Free Cash Flow Growth -

Free Cash Flow Yield

 Analysis of Cadbury

Analysis of Cadbury focuses on strengths, weaknesses, opportunities, and threats. Strength and
weakness are the internal factors opportunities and threats are external factors.
Analysis is a validated framework that enables a company such as Cadbury to evaluate its
business performance against competitors and the industry.
Cadbury is one of India’s leading Chocolate brands, and so there’s no denying that Cadbury’s
strengths and prospects are much greater than weakness and threats.

• World leader: Cadbury is the leader in chocolates worldwide. Cadbury is considered to

have the best production and a large distribution platform, and has a presence in 160 or
more countries.
• Strong Brands and products: Cadbury has several strong brands such as dairy milk,
Bournvita, Oreo, Five Star and others in its product range. The goods are high quality
goods and some of them are Cadbury’s cash cows.
• Cadbury goods are endowed with great brand loyalty, brand name, brand value and brand
loyalty. Cadbury has created its good brand image among the customers because of its
marketing and good branding. Cadbury products are high in price because of its quality.
Cadbury has several brand names are known worldwide and are demand of Cadbury
Chocolates is very high.
• Positioning as gift: Cadbury’s has a good range of chocolates boxes and packs for gifting.
Some off the chocolates for gifting purpose are Cadbury Dark Milk, Cadbury
Celebrations, and Cadbury Rich Dry Fruits over the years is that these chocolates are
placed for gifting. The new bournville, in particular, focuses entirely on the gifting role.
Cadbury has safely isolated itself from the rest of its rivals because of this smart
approach.
• Promotions: Cadbury has one of the best promotions in the FMCG sector with an
impressive tag line of “kuch meetha ho jaye” along with fantastic events. This also gives
Cadbury power because it offers excellent brand recall.
• Cadbury is one of the few brands that have such a strong link with the Indian customers.
Home, friends and love are all important aspects of life for Indians. And to communicate
with the Indian audience, Cadbury has always concentrated on emotional marketing.
• Placement and distribution: Cadbury has a superb distribution strategy in place and uses
the strategy of splitting the bulk, like all FMCG businesses. It is not a small feat to be
shipped to 200 countries with a range of more than 40 versions. And for the past few
years, Cadbury has been doing the same. Cadbury in India is considered to be the best in
terms of its distribution network.
• Dealer Community: Cadbury has a good partnership with its dealers which not only
supplies them but also focuses on promoting the products and training of the company.
 • Entering new markets: Creative teams from Cadbury have helped it to come up with new
products and reach new markets. In the past it was successful, in most of the initiatives it
took in new markets.
• Website: Cadbury has a well-functioning and engaging website that attracts a huge
amount of traffic and sales on the internet.
• Social Media: Cadbury has a strong social media presence with over millions of
followers on the three most prominent social networking platforms: Facebook, Twitter
and Instagram. It has a high degree of customer engagement with low customer response
time on those channels.
• Product Portfolio: Cadbury has a broad selection of products where it sells products in a
wide variety of categories. It has a range of exclusive product deals which competitors
don’t have and uses the strategy of splitting the bulk, like all FMCG businesses. It is not a
small feat to be shipped to 200 countries with a range of more than 40 versions. And for
the past few years, Cadbury has been doing the same. Cadbury in India is considered to
be the best in terms of its distribution network.
• Dealer Community: Cadbury has a good partnership with its dealers which not only
supplies them but also focuses on promoting the products and training of the company.
• Entering new markets: Creative teams from Cadbury have helped it to come up with new
products and reach new markets. In the past it was successful, in most of the initiatives it
took in new markets.

This analysis is to examine the performance of Cadbury

Cadbury is a very successful business and have over 70,000 employees working for them. For
Cadbury to remain a successful business it has to maintain some structure and business functions
to be able to meet their aims and objectives.
The finance department is the department that controls and deals with the money. The finance
department are responsible for keeping all financial records and documentations of money that
comes in and out of the business.
The finance department control all giving budgets to each department, this is set in place so each
department can achieve their objectives and do not waste money. Managers see these budgets
and compare the sales and targets that had been met and the finance department then make plans
for the future that will help the business to achieve its objectives.
Auditing reports
2019 compared with 2018:
Net revenues decreased $184 million (5.7%), due to unfavorable currency (13.5 pp) and
unfavorable volume/mix(2.1 pp), partially offset by higher net pricing (9.9 pp). Unfavorable
currency impacts were due primarily to thestrength of the U.S. dollar relative to most currencies
in the region including the Argentinean peso and Brazilianreal. Unfavorable volume/mix was
due to the impact of pricing-related elasticity, and was driven by declines inrefreshment
beverages, candy, cheese & grocery and chocolate, partially offset by gains in biscuits and
gum.Higher net pricing was reflected across all categories, driven primarily by Argentina,
Brazil and Mexico.Segment operating income decreased $69 million (16.8%), primarily due to
higher raw material costs, unfavorablecurrency, unfavorable volume/mix, the lapping of the
2018 benefit from the resolution of a Brazilian indirect taxmatter of $26 million, higher
manufacturing costs and higher other selling, general and administrative expenses(including
lapping the benefit from a VAT-related settlement in 2018 and the expense of a VAT-related
settlement in2019). These unfavorable items were partially offset by higher net pricing, lower
costs incurred for the Simplify toGrow Program, favorable change in remeasurement on net
monetary position in Argentina (remeasurement gain in2019 as compared to a remeasurement
loss in 2018) and lower advertising and consumer promotion costs.

Gross profit increased $515 million, while gross profit margin increased 450 basis points
to 41.0 percent, primarily driven by favorable year-over-year change in mark-to-market
gains/losses from currency and commodity derivatives. Adjusted Gross Profit 1 increased
$134 million at constant currency, while Adjusted Gross Profit margin remained flat at
39.6 percent due to higher raw material costs and unfavorable product mix, offset by
higher pricing and manufacturing productivity.

Operating income increased $427 million and operating income margin was 17.7
percent, up 490 basis points primarily due to favorable year-over-year change in mark-to-
market gains/losses from currency and commodity derivatives and higher Adjusted
Operating Income 1 , partially offset by higher restructuring expenses. Adjusted Operating
Income increased $142 million at constant currency, and Adjusted Operating Income
margin increased 140 basis points to 17.9 percent primarily driven by lower overhead
costs, partially offset by increased advertising and consumer promotions spend.
Total Revenue 35,407.32

Revenue 35,407.32

Other Revenue, Total

Cost of Revenue, Total 29,508.28

Gross Profit 5,899.05

Total Operating Expenses 35,125.50

Selling/General/Admin. Expenses,
5,725.26
Total

Research & Development

Depreciation / Amortization

Interest Expense (Income) - Net

Operating

Unusual Expense (Income) -67.66

Other Operating Expenses, Total -40.38

Operating Income 281.82

Interest Income (Expense), Net Non-

126.24
Operating

Gain (Loss) on Sale of Assets

Other, Net 0

Net Income Before Taxes 408.06

Provision for Income Taxes -523.76

Net Income After Taxes 931.83

Minority Interest

Equity In Affiliates

U.S GAAP Adjustment

Net Income Before Extraordinary

931.83
Items

Total Extraordinary Items

Net Income 931.83

Total Adjustments to Net Income

Income Available to Common

931.83
Excluding Extraordinary Items

Dilution Adjustment

Diluted Net Income 931.83

Diluted Weighted Average Shares 1,878.20

Diluted EPS Excluding Extraordinary

0.50
Items

DPS - Common Stock Primary Issue 0.18

Diluted Normalized EPS 0.47

Total Current Assets 20,383.86

Cash and Short Term Investments 11,115.71

Cash 11,115.71

Cash & Equivalents 11,115.71

Short Term Investments

Total Receivables, Net 3,855.77

Accounts Receivables - Trade, Net 2,785.95

Total Inventory 5,244.05

Prepaid Expenses 168.34

Other Current Assets, Total

Total Assets 33,210.68

Property/Plant/Equipment, Total -
12,774.50
Net

Property/Plant/Equipment, Total -
31,140.63
Gross

Accumulated Depreciation, Total -18,366.13

Goodwill, Net

Intangibles, Net 52.32

Long Term Investments

Note Receivable - Long Term

Other Long Term Assets, Total 0

Other Assets, Total

Total Current Liabilities 14,474.69

Accounts Payable 4,407.20

Payable/Accrued 14,523.25

Accrued Expenses 1,841.23

Notes Payable/Short Term Debt 3,450.72

Current Port. of LT Debt/Capital

0.99
Leases

Other Current liabilities, Total 4,774.54

Total Liabilities 19,661.16

Total Long Term Debt 6.87

Long Term Debt

Capital Lease Obligations 6.87

Deferred Income Tax 218.17

Minority Interest

Other Liabilities, Total 4,961.43

Total Equity 13,549.52

Redeemable Preferred Stock, Total

Preferred Stock - Non Redeemable,

Net

Common Stock, Total 939.10

Additional Paid-In Capital 272.34

Retained Earnings (Accumulated 12,338.08

 Deficit)

Treasury Stock - Common

ESOP Debt Guarantee 89.89

Unrealized Gain (Loss)

Other Equity, Total

Total Liabilities & Shareholders'

33,210.68
Equity

Total Common Shares Outstanding 1,878.20

Total Preferred Shares Outstanding

Conclusion
I can say that Cadbury is a multinational company. Cadbury is great player in the chocolate
industry. Cadbury Dairy Milk expresses gratitude to COVID warriors with ‘Thank You’ bars and
contribution of over 70 tons of products to support relief workers and the migrant population
during times of Covid-19. The company in total has donated over 140 tons of Chocolates, Biscuits
and Beverages to India. The prospective customers of Cadbury have changed from kids to adults
including every family member to celebrate any occasion with cadbury.

Source:
https://ir.mondelezinternational.com/news-releases/news-release-details/mondelez-international-
reports-q1-2021-results

https://www.foodbusinessnews.net/articles/17289-mondelez-report-finds-snacking-a-lifeline-
during-covid-19

https://www.google.com/url?sa=t&source=web&rct=j&url=http://www.cadbury.co.uk/&ved=2
ahUKEwja6Pe-7JbxAhUnxTgGHQJ0DJIQ-
TAoADADegQICBAB&usg=AOvVaw019n9ghyxKuRoHlywaLNz6

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.cadbury.co.uk/&ved=2
ahUKEwja6Pe-
7JbxAhUnxTgGHQJ0DJIQFjAVegQINhAC&usg=AOvVaw3rTuUsfzeIcstS0otXNVpm
Thank You !
 PROJECT REPORT
On
Parle Industries
M.Com IV Sem – Accounting
(Session 2020-21)

THE BHOPAL SCHOOL OF SOCIAL

SCIENCES

Submitted To Submitted
By
Dr. Amrita Sahu Rashi

Arora
Associate Professor Roll No.-
19103040
Department of Commerce