A

PROJECT REPORT ON

“A STUDY OF WORKING CAPITAL MANAGEMENT ON JAY MALLHAR

CONSTRUCTION ”
(A Study of working capital management)

SUBMITTED TO
SAVITRIBAI PHULE PUNE UNIVERSITY, PUNE

IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF THE

DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION

SUBMITTED BY
( KUMBHAR ABHISHEK MAHADEV )
(ROLL NO: - 12776)

UNDER THE GUIDANCE OF

( Prof. A.B. PARLEKAR)
[M.COM, GDC&A]
AT

THE PRINCIPAL,
ANEKANT EDUATION SOCIETY’S
TULJARAM CHATURCHAND COLLEGE OF ARTS, SCIENCE & COMMERCE
COLLEGE
TAL. - BARAMATI, DIST- PUNE-413115
ACADEMIC YEAR
(2021-2022)
 DECLARATION

I am ( Mr. Kumbhar Abhishek Mahadev), a student of Anekant Education

Society’sTuljaram Chaturchand College of Arts, Science & Commerce College, Baramati.
hereby declare that the project report entitled (“A STUDY OF WORKING CAPITAL
MANAGEMENT ON JAY MALLHAR CONSTRUCTION”) (A Study of working
capital management ) written and submitted by me to the Savitribai Phule Pune
University, in partial fulfillment of the requirements for the awards of degree of Bachelor
of Business Administration. Under the guidance of (Prof. A.B. PARLEKAR). It is my
original work and the conclusions drawn therein are based on material collected by myself.

Date: / / 2021 ( Mr. Kumbhar Abhishek Mahadev )

Place: Baramati Seat No:

 ACKNOWLEDGEMENT

The gratification and joy that accompanies the successful completion of any task would be
incomplete without the humble deep-felt expression of gratitude to the people who made
it possible, because success is bridge between hard work and efforts and above all
encouraging guidance and support.

Firstly, I thanks to our Principal, Dr. Chandrashekhar. V. Murumkar for providing

the required facility I would like to convey my sincere thanks to Prof.D.M.Anpat,
Head,Department of Bachelor of Business Administration(BBA) and my internal Project
guide Prof.A.B.Parlekar, the constant source of motivation and inspiration for me who
guided and helped in bringing the best out of me.

I am also thankful to Who have directly and indirectly helped in completing this project
work. I am also thankful to my parents and friends for helping me to complete my project
work.

Place: Baramati (Mr. Kumbhar Abhishek Mahadev)

Date & Signature Seat No :

Chapter Particulars Page
No No.
1. Introduction

1.1 Introduction
1.2 Statement of problem
1.3 Scope of study
1.4 Objectives of study
1.5 Hypotheses of study
1.6 Limitations of study
1.7 Methodology of study
1.8 Review of litreature
2 Conceptual Study
2.1 Introduction
2.2 Meaning and Defination
2.3 Nature of Working Capital Management
2.4 Objectives of Working Capital Management
2.5 Types Of Working Capital Management
2.6 Stages of Working Capital Management
2.7 Importance of Working Capital Management
2.8 Techniques Of Working Capital Management
2.9 Advantages Working Capital Management
2.10 Limitations Of Working Capital Management
3 Profile of Company
3.1 History of Jay Mallhar Construction
3.2 Profit and Loss A\c
3.3 Balance Sheet
4 Data Analysis & Interpretation
4.1 Liquidity Ratios
a) Current ratio
b) Quick ratio
4.2 Fixed Asset Turnover Ratio
4.3 Working Capital Ratio
4.4 Gross Profit Ratio
4.5 Net profit ratio
5 Findings, Suggestions & Conclusion
5.1 Findings
5.2 Suggestions
5.3 Conclusion
CHAPTER NO .1
1.1 Introduction :
Working capital management refers to the decisions
regarding the working capital. These involve managing the relationship between a
firm's short-term assets and its short-term liabilities in order to ensure sufficient
cash flow to meet short-term debt obligations and operating expenses. Working
capital management is concerned with short-term financial decisions.

Any firm, from time to time, employes its short-term assets as

well as short-term financing sources to carry out its day to day business. It is this
management of such assets as well as liabilities which is described as working
capital management. Working capital management is a quintessential part of
financial management as a subject. It can also be compared with long-term
decision-making the process as both of the domains deal with the analysis of risk
and profitability.

It refers to all aspects of current assets and current liabilities.

The management of working capital is no less important than the management of
long-term financial investment. Sufficient liquidity is necessary and must be
achieved and maintained to provide that funds to payoff obligation as they arise or
mature. The adequacy of cash and other current assets together with their efficient
handling virtually determine the survival of the company.
1.2 Statement Of Problem :
• Some manufacturing industries, business are facing the problem of
Independence due to liquidity problem.
• This study is also aiming at finding whether there is more availability of
working capital to undertake profitable investments.
• It involves the study of day-to-day affairs of the Business.
• The motive behind the study is to develop an understanding about the
working capital management in the running business organization and to
help the company in developing the efficient working capital management.
1.3 Objectives of study :
1. To study the working capital management of Jay Mallhar Constructions .

2. To study the optimum level of current assets and current liabilities of the Jay
Mallhar construction.

3. To study the liquidity position through various working capital related ratios.

4. To study the working capital components such as receivables accounts, cash

management & Inventory position.

5. To study the way and means of working capital finance of the Jay Mallhar
Constructions.

6. To estimate the working capital requirement of Jay Mallhar constructions

7. To study the operating and cash cycle of the jay Mallhar construction.

1.4 Hypotheses Of The Study :

Hypothesis has definite utility and important place in social research. The
formulation of hypothesis is pre-requisite of any successful research. one of the
most important areas in the day-to-day management of the firm is the management
of working capital .

1- There is a positive relationship between efficient working capital management

and profitability of the business.

2- The different components of the working capital have a major effect on the
management of the working capital in the Business.
1.5 Scope Of The Study :
1. The study is on working capital management of selected Public enterprises.

2. The study furnishes the management of idea about the performance of working
capital of the business.

3.Management of working capital refers to management of current assets, current

liabilities and relationship between them.

4. The basic goal of working capital is to maintain the satisfactory level of working
capital.

5. A sound working capital policy ensures higher profitability and proper liquidity
of a firm.

6. Every business needs funds for two purposes: for its establishment and to carry
out its day to day operations.

7. For this purpose it is important for the business to manage its short term assets
and liability.
1.6 Limitations of study :
1. Study is limited to the accounting year 2020-2021

2. Study is based on information provided by the Business

3.Study the working capital management does not take in to account

the price level changes.

4. The research area was within the construction industry and construction
management, and the focus will be on the role, work processes and experience.
1.7 Methodology of study :
Method Of Data Collection

1] Primary Data

The primary data are those which are collected the information from the official
& existing business through discussion. Primary it gives all kind of information
related to project which help follow next step of the project.

2] Secondary data

In the investigation does not collect the data originaly but uses data collected by
other investigator & available in published or unpublished from the data is called
secondary data.

1] Annual Reports.

2] The referce book.

3] Other information collected by the internet websites.

COLLECTION OF DATA

This study is based on the secondary data collected from Jay Mallhar
Constructions Annual Report, Balance Sheet, Financial Ratios and various other
financial statements. Data is also extracted from different websites.
1.8 Review of literature
Working capital management is an essential part of financial
management in all business operations. It is mainly concerned with the management
of the liquidity components of businesses’ short-term current assets and current
obligations. The most familiar current assets are cash, account receivables, inventory
stock and current liabilities consisting of account payables, accrued expenses, and
tax liabilities, short-term debt such as commercial bills, and provisions for current
liabilities such as dividends declared but not yet paid.
The main purpose of working capital management is to reduce the
volume of capital hold in the current asset portion of a firm which is implied to the
cash conversion cycle. Handling and monitoring receivables and their collection
issues and managing the investment in the inventory stock are the typical emphasis
parts of working capital management.
 Chapter No 2
Conceptual Study
2.1 Introduction
Working Capital Management is the management of short-term
financial requirements of an organization. This includes maintaining the optimal
balance of working capital components such as receivables, inventory and payables
and using the cash efficiently for day-to-day operations. long term funds are
required to create production facilities through the purchase of fixed assets such as
plant & machinery, solid background, building, furniture, etc. Investments in these
assets represent that piece of a firm’s capital which is blanked out on permanent or
fixed earth and is called fixed capital. Funds are also needed for short-term
purposes for the purchase of crude material, payment of wages and other expenses.

It has been often observed that the shortage of working capital leads to
the failure of a business. The proper management of working capital may bring
about the success of a business firm. The management of working capital includes
the management of current assets and current liabilities. A number of companies
for the past few years have been finding it difficult to solve the increasing
problems of adopting seriously the management of working capital.

A firm may exist without making profits but cannot survive without
liquidity. The function of working capital management in an organization is similar
that of the heart in a human body. Also it is an important function of financial
management. The financial manager must determine the satisfactory level of
working capital funds and also the optimum mix of current assets and current
liabilities. He must ensure that the appropriate sources of funds are used to finance
working capital and should also see that short term obligation of the business are
met well in time.
 2.2Meaning and Definition
➢ Meaning

• Working capital management is a business strategy designed

to ensure that a company operates efficiently by monitoring
and using its current assets and liabilities to the best effect.

• Working Capital is that capital which is involved in the

current assets of the business. Basically it is the capital which
is required to meet the day to day expenses of the business.

➢ Definition

• Working capital is the financing in a small business that helps

a company pay its trade creditors and cash flow it is the
finance that businesses need for their day-to-day trading
operations.

• "Working capital is descriptive of that capital which is not

fixed. But the more common use of working capital is to
consider it as the difference between the book value of the
current assets and the current liabilities"
2.3 Nature of Working capital Management

1. It is used for purchase of raw materials, payment of wages and expenses.

2. It changes form constantly to keep the wheels of business moving.
3. Working capital enhances liquidity, solvency, creditworthiness and
reputation of the business.
4. It generates the elements of cost namely: Materials, wages and expenses.
5. It enables the to business available the cash discount facilities offered by its
suppliers.
6. It helps improve the morale of business executives and their efficiency
reaches at the highest climax.
2.4 Objectives of Working capital management

1. Smooth Operating Cycle:

The key objective of working capital management is to
ensure a smooth operating cycle. It means the cycle should never stop for the
lack of liquidity whether it is for buying raw material, salaries, tax payments
etc.

2. Lowest Working Capital:

For achieving the smooth operating cycle, it is also
important to keep the requirement of working capital at the lowest. This may
be achieved by favorable credit terms with accounts payable and receivables
both, faster production cycle, effective inventory management etc.

3. Minimize Rate of Interest or Cost of Capital:

It is important to understand that the interest cost of
capital is one of the major costs in any firm. The management of the firm
should negotiate well with the financial institutions, select the right mode of
finance, maintain optimal capital structure etc.

4. Optimal Return on Current Asset Investment:

In many businesses, you have a liquidity crunch at one
point of time and excess liquidity at another. This happens mostly with seasonal
industries. At the time of excess liquidity, the management should have good
short-term investment avenues to take benefit of the idle funds.

5. Optimizing capital performance

Another working capital management objective is to
optimize the efficiency of capital usage whether by minimizing capital costs or
maximizing capital returns. The former can be achieved by reclaiming capital
that is currently tied up to reduce the need for borrowing, while the latter
involves ensuring the ROI of spare capital outweighs the average cost of
financing it.
2.5 Type of Working Capital Management

1. Temporary Working Capital

Temporary Working Capital is the capital required by the business

during some specific times of the year. For example: this capital may be required in
the festive season owning to the immediate demands of the business. This
requirement is considered temporary and changes as per the business’s operations
and market situations.
 2. Permanent Working Capital

The permanent working capital is the amount of money required to

make liability payments even before you are able to convert assets or invoices into
cash. This is also known as the operating cycle and many businesses require an
ongoing, sometimes permanent, solution to fill in this gap.

3. Gross & Net Working Capital

Gross working capital, is the total of the company’ assets. These

assets are basically the ones that can be converted to cash within one year. The assets
typically include: Cash, Accounts Receivable, Marketable Securities like stocks,
Short-Term Investments The preferred way to express positive working capital is
the ratio of current assets to current liabilities. The networking capital of the business
is the difference between gross working capital and current liabilities.

4. Reserve Working Capital

Reserve working capital is a type of fund a business maintains over

and above the working capital required. Businesses use such funds as a contingency
for unexpected market situations or opportunities. The reserve working capital refers
to the short term financial arrangement made by the business units to meet any
changes or uncertainties.

5. Regular Working Capital

This type of working capital is the minimum working capital a

business needs to run its daily operations. Businesses need to maintain the
appropriate level of regular working capital for stable operations. It is the permanent
working capital which is normally required in the normal course of business to
ensure a smooth flow of working capital cycle. The regular working capital is
defined as the least amount of capital required by a business to carry out its day-to-
day business operations.
 6. Seasonal Working Capital

This working capital refers to the increased amount of working capital a

business requires during the peak season of the year. Businesses that deal in the
production or manufacturing of products or provide services that have seasonal
demands need to maintain a seasonal working capital. It can be considered as a form
of reserve working capital but only to adapt to the sudden change and seasonal
fluctuations in the market. Seasonal working capital is considered as that temporary
increase in working capital. It is only applicable to businesses that have the impact
of seasons, for example, the manufacturer of raincoats and umbrellas for whom the
relevant season is monsoon.

7. Special Working Capital

Special working capital is that rise in the temporary working capital

which occurs due to a special event which otherwise normally does not take place.
It has no basis to forecast and has rare occurrence normally. For example, a country
where Olympic Games are held, all the business require extra working capital due
to a sudden rise in business activity.

It was all about the types of working capital. It needs to be managed with several
working capital techniques so as to have the effective working capital
management.
2.6 Stages of Working capital Management

Supply Side

Contract to Purchase of Stock/Raw Materials.

▪ on immediate payment or credit terms.

▪ lead time may be necessary to produce and ship goods

Stock (Work In Progress)

Receive imported goods

▪ refine/manufacture
▪ ready as a finished product

Sales Side (Trade Creditors)

▪ contract to sell
▪ ship goods to customer
▪ on credit terms.
2.7 Importance Of Working Capital Management

The goal of working capital management is to maximize operational efficiency.

Efficient working capital management helps maintain smooth operations and can
also help to improve the company's earnings and profitability.

Although the importance of working capital is unquestionable in any type of

business. Working capital management is a day to day activity, unlike capital
budgeting decisions. Most importantly, inefficiencies at any levels of management
have an impact on the working capital and its management. Following are the main
points that signify why it is important to take the management of working capital
seriously.

1. Increased Business Value Firms with more efficient working capital

management will generate more free cash flows which will result in higher
business valuation and enterprise value.
2. Higher Profitability According to research conducted by the management of
account payables and receivables is an important driver of small businesses’
profitability.

3. Favorable Financing Conditions A firm with a good relationship with its trade
partners and paying its suppliers on time will benefit from favorable financing
terms such as discount payments from its suppliers and banking partners.
2.8 Techniques and tools of Working Capital Management

1. Payback period method

In this technique, the entity calculates the time period required to earn the initial
investment of the project or investment. The project or investment with the shortest
duration is opted for.

2. Net Present value

The net present value is calculated by taking the difference between the present
value of cash inflows and the present value of cash outflows over a period of time.
The investment with a positive NPV will be considered. In case there are multiple
projects, the project with a higher NPV is more likely to be selected.

3. Accounting Rate of Return

In this technique, the total net income of the investment is divided by the initial or
average investment to derive at the most profitable investment.

4. Internal Rate of Return (IRR)

For NPV computation a discount rate is used. IRR is the rate at which the NPV
becomes zero. The project with higher IRR is usually selected.

5. Profitability Index

Profitability Index is the ratio of the present value of future cash flows of the
project to the initial investment required for the project. Each technique comes
with inherent advantages and disadvantages. An organization needs to use the best-
suited technique to assist it in budgeting.
2.9 Advantages of Working Capital Management

➢ Working capital management ensures sufficient liquidity when required.

➢ It evades interruptions in operations.

➢ Profitability maximized.

➢ Achieves better financial health.

➢ Develops competitive advantage due to streamlined operations.

2.10 /Disadvantages of Working Capital Management

➢ Difficult to accommodate sudden economic changes.

➢ Inability to Pay Expenses.

➢ Pressure to Collect Payments

➢ There may be some fractional differences in the calculated ratios.

➢ The study was for short span of 8 weeks and due to lack of time other areas
could not be well focused.
 Chapter 3
Company Profile

3.1 History of Company -

Jay Malhar Construction Vitthal Nagar Housing society, in Baramati

Jay Malhar Construction in Vitthal Nagar Housing Society, Baramati is known to

satisfactorily cater to the demands of its customer base. It stands located at Near
Market Yard , Indapur Road, Baramati -413102. Near Market Yard is a prominent
landmark in the area and this establishment is in close proximity to the same. The
business strives to make for a positive experience through its offerings.

Customer centricity is at the core of Jay Malhar Construction in Vitthal Nagar

Baramati and it is this belief that has led the business to build long-term
relationships. Ensuring a positive customer experience, making available goods
and/or services that are of top-notch quality is given prime importance.

India's leading B2B market place, Jd Mart ensures engaging in business activities
is a seamless process for small and medium enterprises as well as large businesses.
In a wake to enable these businesses to reach their audience, this portal lets them
showcase their offerings in terms of the products and/or services through a digital
catalogue..

Kindly scroll up for the address and contact details of Jay Malhar Construction in
Baramati
3.2 Profile Of Company-

Company Name Jay Malhar Construction

Class of Business Private

Year of Establishment 1995

Address of Company Vitthal Nagar, Housing Society Near

Market Yard Baramati

Company Owner Mr. Satish Bharat Dhalape

Phone No 9673807770

Email Id kunaldhalape0909@gmail.com
 3.3 Profit and Loss Account for the year ended 2019-20

Particulars 2019 2020

Income
Contract Revenue 6,97,164.90 7,61,577.51
Over/Under Billings Adjustment
Interest Income 2,500.77 4,291.25
Discount Earned 3,873.60
TOTAL INCOME 254.00
6,99,665.67 7,69,996.36
Cost of Construction
Job Labor 2,28,316.79 1,17,883.96
Job Material 3,48,182.56 4,64,731.83
Job Sub-Contract 5,65,626.00 6,61,287.75
Job Miscellaneous 3,476.65 28,928.79
Job Burden (PR Taxes & Ins) 5,283.15 24,049.17
TOTAL COST OF CONSTRUCTION 11,50,885.15 12,96,881.5

Gross Profit 4,51,219.48 5,26,885.14

General & Administrative

Contributions 58.25 150.00
Estimating Expenses 563.00 844.50
Insurance- General 316.00 147.47
Insurance- Medical 345.00 220.00
PR Taxes & Ins 1,746.56 911.00
Rent 3,900.00 4,440.00
Salaries 101,312.50 120,500.00
Utilities 11,663.30 11,867.52
TOTAL GENERAL & 116,875.8 139,080.49
ADMINISTRATIVE
Operating Profit 334,343.68 387,804.65

Net Income 334,343.68 387,804.65

 Balance Sheet as per on 2019-2020

Liabilities Amount Amount Assets Amount Amount

Accounts 114,266.80 121,867.30 Cash 129,203.00 221,867.30
Payable
Accrued 21,870.00 18,645.00 Accounts 110,766.30 147,645.00
expenses Receivable
payable
Dividends 18,530.20 45,978.62 Inventories 141,572.42 45,978.62
Payable

Common 66,120 67,296.05 Investments 62,704.87 67,296.05

Stock
Paid-in 192,460.50 264,215.00 Land 35,895.00 35,215.00
capital in
excess of per
common
stock
Retained 208,485.00 228,100.15 Equipment 196,190.91 228,100.20
Earnings Accumulated
Depreciation (54,600)

Total 621,732.5 746,102.12 Total 621,732.5 746,102.12

 CHAPTER -4
Data Analysis & Interpretation
Calculation of Ratios Analysis

4.1 Liquidity Ratio -

a) Current Ratio -

The current ratio is a liquidity ratio that measures company’s ability to pay short
term obligation or those due within one year. It tells inventors and analysts how a
company can maximize the current assets on its balance sheet to satisfy its current
debt and other payables.

Formula:

Ratio = Current Assets

Current liabilities

Year 2019 2020

Current Assets 239,969.3 369,512.3
Current Liabilities 154,667.00 186,490.92
Current Ratios 1.55 1.98

Current Ratios
2.5
2
1.5
1
0.5
0
2019 2020

Current Ratios

Interpretation:

From the above in this chart can been seen that current ratio of the year 2020 is
higher than 2019. The current ratio of the year 2020 is 1.98 & current ratio of 2019
is 1.55.
b) Quick Ratio -

In Finance the quick ratio, also known as the acid-test ratio is a type of liquidity
ratio, which measures the ability of a company to use its near cash or quick assets
to extinguish or retire current liabilities immediately.

Formula:

Quick Ratio = Current assets – Inventory

Current liabilities

Year 2019 2020

Current Assets 239,969.3 369,512.3
Current 154,667.00 186,490.92
Liabilities
Quick Ratio 0.64 1.22
Quick ratio
2
1.8
1.6
1.4
1.2
1
0.8
0.6
0.4
0.2
0
2019 2020

Quick ratio

Interpretation:

From the above chart can been seen that quick ratio of the year 2020 is higher.
Above the chart in year 2020 increasing by 1.22.
4.2 Fixed Asset Turnover Ratio

This ratio divides net sales by net fixed assets calculated over an annual period.
The net fixed assets include the amount of property, plant and equipment.

Formula

Ratio = Total Sales

Fixed Asset

Year 2019 2020

Total Sales 6,99,665.67 7,69,996.36
Fixed Asset 35,895.00 35,215.00
Turnover Ratio 19.49% 21.86%
Turnover Ratio
24

22

20

18

16

14

12

10
2019 2020

Turnover Ratio

Interpretation:

In this chart can be seen that ratio of 2020 increases above 2019. The fixed assets
2019 ratio is low. Turnover ratio is the year 2020
4.3 Working Capital Ratio

The Working capital ratio is calculated simply by dividing total current assets by
total current liabilities. For that reason, it can also be called the current ratio.

Formula : Current Assets – Current Liabilities

Year 2019 2020

Current Assets 239,969.3 369,512.3
Current Liabilities 154,667.00 186,490.92
Working Capital 85,302.3 183,022.3
Ratio
Working capital ratio
350000

300000

250000

200000

150000

100000

50000

0
2019 2020

Working capital ratio

Interpretation

In this chart can be seen a business working capital higher than 2019. Working
capital is 183,022.3 this business working capital is well managed.
4.4 Gross Profit Ratio

Gross margin is the difference between revenue and cost of good sold divided by
revenue. Gross profit is expressed as a percentage.

Formula : Gross Profit

×100

Net sales

Year Gross Profit Ratio

2019 64.49%
2020 68.43%

Gross Profit Ratio

70

60

50

40

30

20

10
2019 2020

Gross Profit Ratio

Interpretation :

In this chart can be seen Gross profit high then pervious year. A higher gross profit
indicates that a business can make a reasonable profit on sales.
4.5 Net Profit Ratio

Net profit ratio is a measure of profitability. It is calculated by finding the net

profit as a percentage of the revenue.

Formula

Net Profit

Net Sale ×100

Year Net Profit Ratio

2019 47.78%
2020 50.36%

Net profit Ratio

70

60

50

40

30

20

10
2019 2020

net profit ratio

Interpretation:

In this chart can be seen net profit ratio in the year 2020is 50.36% high net profit
that means a business is able to effectively control its cost.
 Chapter No 5
Findings, Suggestions & Conclusion
5.1 Findings
1. In this project I observed that current ratio of jay mallhar construction is
excellent the year of 2019 ratio is 2.46 & 2020 ratio is 2.52.
2. Fixed asset turnover ratio of jay mallhar construction in the year of 2019 is
19.49%And year 2020 is 10.27%
3. Working capital ratio of jay mallhar construction is increased.
4. Gross Profit ratio of jay mallhar construction in the year of 2019 is 64.49%
and year 2020 is 68.43%
5. Net Profit ratio of jay mallhar construction in the year of 2019 is the 47.78%
and the year 2020 is 50.36%. in this year of 2020 profit increased by 3%.
5.2 Suggestions-
Net profit ratio of jay mallhar construction is good.

I observed that in this business both years financial position is very close too each
others.

It has been observed that the profitability position of the jay mallhar construction is
good.

The company if possible should invest in advertising spend money on so that it can
better.

Customer friendly documentation it should be made easier and faster.

5.3 Conclusion
By completing this project, This business financial position is increased in this
year. To study the financial growth is good, compared to previous year. In this
Pandemic time business financial situation was low but in this year growth is well.

They are able to explore construction design, structure analysis strength and load
distribution through this project. This gives us knowledge on different joint
methods & how to handle business in this situation. I am able to learn important
points that would help improvise our business.

5.4 BIBLOGRAPHY

Refers books

1. Analysis of financial Statement

Websites

www.google.com

www.jaymallharconsruction.com