Professional Documents
Culture Documents
1 CHAPTER 1
EXECUTIVE SUMMERY 3 TO 7
INDUSTRY PROFILE.
COMPANY PROFILE
NEED FOR STUDY
OBJECTIVE OF THE STUDY
RESERCH METHDOLOGY
FINDING
SUGGESTION
CONCLUSION
2 CHAPTER 2
8 TO 14
INTRODUCTION OF INDUSTRY
INDUSTRY PROFILE
3 CHAPTER 3
15 TO 34
INTRODUCTION OF COMPANY
COMPANY PROFILE
VISION, MISSION AND GOAL.
BOARD OF DIRECORS.
OBJETIVE OF SDT&TPL.
PRODUCT & SERVICE PROFILE
ORGANIZATION FLOW CHART OF SDT&TPL.
DEPARTMENT STUDIES OF SDT&TPL
4 CHAPTER 4
35 TO 39
RESEARCH METHDOLOGY
SCOPE OF STUDIES.
OBJECTIVE OF STUDIES
METHDOLOGY
1
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
CHAPTER 5
5 WORKING CAPITAL MANAGEMENT 40 TO 52
INTRODUCTION
MEANIG OF CAPITAL.
FORM OF CAPITAL
MEANING OF WORKING CAPITAL
NEED OF WORKING CAPITAL
NATURE OF WORKING CAPITAL
FACTORS DETERMINING WORKING CAPITAL
REQUIREMENTS.
FINANCING OF WORKING CAPITAL
WORKING CAPITAL COMPOSITION.
6 CHAPTER 6
53 TO 70
DATA ANANLYSIS AND INTERPRETATION
7 CHAPTER 7
FINDINGS 71TO 77
SUGGESTIONS
CONCLUSIONS
ANNEXURE
BALANCE SHEET
BIBLOGROPHY
2
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
EXECUTIVE SUMMARY
TITLE OF THE PROJECT
3
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
INDUSTRY PROFILE:-
In the 3500 BC fixed wheel chart are invented first wheel vehicles in
history .Other early wheel vehicles included the carious. The wheel vehicles were used for
the traveling purpose. Littleton area first began to be settled in 1862, there were two principal
forms of transportation available: walking and either riding or being pulled by a horse. There
were no roads to speak of, only old Indian trails which had been widened and packed hard
by the increased usage of white men. Their after in air India has came in 19 th century. Air
Indian has first Government sector company in India .It was introduced long year ago in
India And there after many private air lines comes in India .The airlines has developing the
service sector in India by providing tours and traveling facility to the customer. In 19 th
century many tours & Travels Company introduce in India. Air Deccan is continues to be one
of the faster growing commercial passenger airlines today .Air Deccan company has
developed tours & travels sectors to provide various facility to the tours & travels facility
company.
Company profile:-
4
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
5
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
The analysis made on the working capital management is for a particular period of
time the current assets and current liabilities will change for an analysis made at any
other of time.
METHODOLOGY:
Primary Sources:
Primary sources include information collected through discussion with the concerned
departmental persons i.e. Mr. Parihar and Mr. Manoj.R
Secondary Sources:
I was used secondary sources also for collecting the data. They are:
Information from the text sources
SAMPLING DESIGN
0 Sampling unit : Financial Statements
1 Sampling Size :Last five years financial statements
The net working capital has declined in the year 2007-2008 and but the profit of the
company was increased in the year 2007-2008
The Shree dayal tours & Travels Pvt Ltd has abled to repay the liability & loan of the
creditors or not.
Suggestion:-
6
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
In the year 2007-2008 the current assets of the Shree Dayal tours and travels Pvt Ltd has
declined and current liability of the company has increases there for the net working capital
declined. There for the current ratio has declined. The net working capital of the company
has increased remaining year .But profit has increased because the sales has increased in the
year 2007-2008.
The company has abled to repay the liability of the creditors because of the current
ratio of SDT&TPL is above the standard of current ratio i.e. 2:1. The profit of the
company has increased every year.
Conclusion:-
The Shree Dayal tours & travels Pvt Ltd has profit orient company and
company has to able to the repay of his lability.The company have sufficient reserve and
surplus and reserve and surplus has increases every year. After going through the
different aspects of the industry departments and the awards it has received in different
fields. There is good relationship between the directors and employee. The management
concerned about employees complete health and wealth.
7
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
INDUSTRY PROFILE.
INDUSTRY PROFILE
.
8
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
HISTORY:-
Littleton area first began to be settled in 1862, there were two principal forms of
transportation available: walking and either riding or being pulled by a horse. There were no
roads to speak of, only old Indian trails which had been widened and packed hard by the
increased usage of white men. This did not change for nearly a decade. As farfetched as it may
sound, the early South Platte valley settlements had a legacy of steamboat travel. The Rocky
Mountain News regularly published the arrivals and departures of various river boats, and saw
to it that major east coast newspapers reprinted them. Was the South Platte River deeper then?
No. This was just one of many schemes dreamed up by News editor William Byers to boost
settlement in Colorado Territory -- by the time greenhorns discovered the deception, they were
in St. Louis, more than half-way here. The only "real" traffic on the South Platte, then or since,
were shallow-draft barges and canoes carrying beaver and buffalo hides to Missouri markets.
Steam-powered transportation did reach Littleton in 1871, when tracks of the Denver and Rio
Grande Railroad were completed to a siding at Richard littles farm. On August 24, the engine
Montezuma brought the Mayor of Denver and assorted dignitaries to the end of the line. The
striking beauty of the area elicited such enthusiasm that the railroad added a public excursion
two days later, a Sunday, and sold out at $2.50 for the round trip. This began a long
relationship between the citizens of Denver and the "resort" community of Littleton.
Three years later, the Denver, South Park and Pacific Railroad laid tracks on the west bank of
the South Platte River, putting Littleton on the most direct route to the Leadville mining
district. In 1887 the Atchison, Topeka and Santa Fe pulled into town from Pueblo, joining
several smaller and/or short-lived lines. In 1889, one observer along the tracks wrote, "...we
counted twelve trains as they passed to and fro inside an hour. No one has any idea of the
monster traffic on these two roads until they go and look for themselves." At its peak, Littleton
boasted twenty-four scheduled stops a day for passengers and freight.
9
D. & R.G. "Uncle Sam," c. 1916.
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
route, despite a round-trip fare of just 25 cents. Between 1906 and 1923 the Uncle Sam boasted a
"Theater Train" once or twice a week.
In the 1890s, during the height of railroad popularity, another transportation craze swept the
country -- bicycling. Although bicycles, or velocipedes as they were originally called, had
been around since the 1860s, the invention of pneumatic rubber tires and friction brakes
made it a household item. Denver led the craze, boasting the highest per capita bicycle
ownership in the country. Among the many popular bike paths constructed was south from
Denver along the city ditch to Littleton. Once there, many cyclists picnicked in the shade
surrounding the Sunshine and Shadow Inn or watched the bike races around the Inn's track,
while the more adventurous continued south to Palmer Lake and back, completing a
"century" ride, or 100 miles in a day.
10
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
commercial passenger airlines today .Air Deccan company has developed tours & travels
sectors to provide various facility to the tours & travels facility company. The airlines
company has given registration to the tours & travels company to sell his air ticket and
developing the tourisms in country. All airline operators and the competition continue to be
stiff among all operators putting pressure on yields. The future growth of air travels within to
and from India will continue to depend on the growth of the Indian economy. The companys
scheduled airlines business continued to grow in all areas of its operations and your company
is a significant player in the Indian domestic aviation and tours & travels sectors. It has also
achieved the distinction of becoming the carrier with the widest reach covering more
destinations then any other domestic carrier. An Indian airline has succeeded in
changing the face of the aviation and tours and travels sectors in India. It has succeeded in
enlarging the market for air travels and has turned air travels into a mass commodity.
Passengers traveling with tickets not issued from the departure station on the below classes
will be entitled for hotel accommodation, if available.
11
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
History of Transportation
12
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
13
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
safe accuracy
1871 First cable car invented
Karl Benz builds the world's first practical automobile to be
1885
powered by an internal combustion engine
Ferdinand von Zeppelin invents the first successful dirigible
1899
- the Zeppelin
1903 The Wright Brothers invent and fly the first engined airplane
1907 Very first helicopter - unsuccessful design
Henry Ford improves the assembly line for automobile
1908
manufacturing
Hydrofoil boats co-invented by Alexander Graham Bell &
1908
Casey Baldwin - boats that skimmed water
1926 First liquid propelled rocket launched
1940 Modern helicopters invented
1947 First supersonic jet flight
1956 Hovercraft invented
1964 Bullet train transportation invented
1969 First manned mission (Apollo) to the Moon
1970 First jumbo jet
1981 Space shuttle launched
14
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
COMPANY PROFILE.
VISION, MISSION AND GOAL
BOARD OF DIRECTORS
OBJECT OF SDT&TPL
PRODUCT & SERVICE PROFILE
DEPARTMENT STUDIES.
ORGANIZATION FLOW CHART
15
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
CLIENTS OR CUSTOMERS
16
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
MARKET CHANNELS
On the basis of Clients, they make Direct Sales to the Customers.
COMPETITORS
The main competitors of the Company are:
Akbar Tours & Travels Pvt Ltd
Riya Tours & Travels Pvt Ltd
Kesari Tours & Travels Pvt Ltd.
NUMBER OF SHIFTS
General Shift:
9-00 AM to 6-00 PM
17
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
This company has provided many offer more than 15 leisure tour product to
Singapore and Europe, more than 10 to south East Asian and is the Domestic and
international tour operator in Indian tours. Shree Dayal tours & Travels Pvt Ltd also takes
pride in being consistently innovation in the tourisms industry.
The Shree Dayal Tours & Travels Private Limited is customer focused and
Quality oriented Service unit, which is continuously strive to services to meet its external
customers requirements. The main goal of the company is to giving full satisfaction to
18
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
the customer and providing good quality of service, enhancing to improve the services
and make company more competitive.
The Shree Dayal Tours & Travels Private Limited has specialized divisions
to cater to the needs of all types travelers, whether it is a guest looking for the safety and
security of escorted group tours, or someone seeking exclusive customized holidays or the
business traveler .We offer our guests a range of allied travel services such as air ticketing,
Visa, Foreign exchange and hotel booking at one stop for their convenience.
Company has issue domestic and also international flight ticket booking to the people on
the basis of the commission. The company has issue more flight ticket booking of that
company those who are give high commission to The Company .The Company has issued
or booking of the Domestic air ticket railway ticket, booking of hotel and give rent on car
The Company has also provided helicopter service facility to the people. The company has
also sold many tours product to the people for his tour convenience purpose. The company
has offered many tours product to the people. The company was offered world tours as well
as Indian tours to the people.
The company has offered tours product like Second Inning tours, Sport tours,
Honeymoon tours, Education tours, and Business tours to the people . The different Air
lines company has given different commission rate to the company. If the company has
ticket booked of Jet Air ways, Spice jet and go air Airline Company then SDT&TPL
Company will get 6% transaction fees. And remain Air ways like kingfisher, Indian
airlines; indigo and air Deccan air ways will get 3% transaction fees on booking of flight
ticket.
19
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Mauritiu Amsterda
Goa-W5 Khajuraho
s - WM m WN 4 Days 3 Jabalpur
4 Days 3 4Days Hotel Bedaghat-
Nights 3Nights Nights W6
4 Days 3
Paris - Srilanka - Hotel
WP WR Nights
4 Days 3 4 Days 3
Nights Nights Katra Jaipur-W8
Vaishnode 4 Days 3
Singapor Turkey - vi-W7 Hotel
e - WS WT 4 Days 3 Nights
4 Days 3 4 Days 3 Hotel
Nights Nights Nights
20
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Kingfisher Red.
Jet Airways
Indian Airlines.
Spice Jet.
Indigo
Go Air
Air Deccan
21
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
22
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
23
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Vision
S.exe
Spreading Smiles Happiness and Joyful life to People and Developing the
Business in a country.
24
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Mission
Shree Dayal Tours & Travels is passionately committed to quality travel, with
continual delivery of value added services .We upholds the highest ethical
standards and believes in creating new benchmarks in the industry.
Goals
To earn a profit.
To providing good quality of services to people.
To attracting new and new customer.
To service can not stop any boundary.
BOARD OF DIRECTORS
Ms.Roli Choudhary.
25
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Ms.Babita Choudhary.
Mr. Suresh S.Choudhary.
MANAGING OF DIRECTOR
Mr.Pawan S.Choudhary
STATUTORY AUDITORS
BANKERS
RIGISTER OFFICE
The main Objects of the Company as set out in the Memorandum of Association
of the Company are as follows:
26
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
To run manage or carry on the business of taxi cars, deluxe coaches ,lorries , cars ,trucks,
airships wagons ,rail , motors vessels, ferries ,boats and other vehicles propelled by
electricity, gas ,gasoline compressed air steam ,manned power ,mechanized power, oil
,crude oil, automatic or other energy or by whatsoever means and from any place or
another whether within India or otherwise for the purpose of carrying conveying
,transportation goods , materials produce ,machinery ,animals passengers, merchandise ,
mail ,freight ,and all such things which may be conveniently carried on with the aforesaid
object of the company.
To insure with any persons or company, against losses, damages, risks and liability of any
kind which may effect the company either wholly or partially and if thought fit to effect
any such insurance by joining or becoming members of any mutual insurance, protection
or indemnity association federation or society and to accept any such insurances or any
thereof for the account of the company.
To procure information for as to the standing and responsibility of parties with whom
they propose to transact business.
To provide clear ,comfortable and inexpensive sleeping accommodation for workmen
and others and in connection their with to the afford to such persons facilities and
convenience for washing ,bathing ,cooking , reading, writing , and finding employment
and for the purchase ,sale and consumption of provisions both liquidity and solid.
The Shree Dayal Tours and Travels Pvt Ltd have provided many tours product
to the people .The company has also provided service to the people. The totally honest policy,
excellent service and perfect tours planning are the hallmarks of company success. The company
has perfected our tour itineraries to meet the special needs of the discerning tourist.
27
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
2) Educational Tours:-
Educational tours take teaching out of the textbooks. its gives wonderful
opportunity to learn about various historic event and key location.
3) Honeymoon Tours:-
Honeymoon tours will give the wonderful happy moment for life time
and that make happy to the life partner.
5) Sports Tours:-
Sport tours just for the vacationer who want s to combine holiday cheer with
edge of the seat sporting encounter.
6) Chillax Tours:-
28
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
This tour is perfect respite from work stress and the daily grind. Specially
tailored to put the spring back into your stride, itsyour chance to let your hair down and
indulge in the unexpected. Just make sure your boss hasnt.
7) Business Tours:-
This tours facility sports enthusiasts this one will have you cheering SDT&TPL
introduces sports tours tailored just for the vacationer who want to combine holiday cheer
with edge of the seat sporting encounter.
SERVICE PROFILE:-
DEPARTMENT STUDIES
Finance Department.
Marketing Department.
29
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Billing Department.
Forex Department.
1) Finance Department
This dept. is concerned with day-to-day activities like purchases, sales salary etc. and proper
Factions
Bank Reconciliation.
2) Marketing Department :-
Among all the functional areas of management marketing are play vary important t role
for selling product of the company. The with marketing Department the company can sold
product to the customer or public.
30
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Factions
The main function of air ticket booking department is to flight ticket booking .The
Company has ticket booking as per the order of the customer. The department is booking of
national as well as international ticket of flight.
Factions
Booking of Ticket.
To give the information regarding the fair price or low price airlines.
Hotel booking department is important because the people booking through the tours &
travels company .The hotel booking department has given full information regarding the hotel to
the customer .Hotel booking department has knowledge about each hotel and which types of
service provide to the customer.
Factions
To give the information regarding the fair price and better service providing hotel.
31
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
5) Billing Department:-
Billing department has prepared a bill of airline & hotel. The billing department has
prepared the day to day booking of airline, hotel and other service provided by company .to the
customer.
Factions
6) Forex Department:-
Factions
Preparing visa.
DIRECTORS
32
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
MANAGING DIRECTOR
____________________________________________________ ____________
Forex ___
Department
Finance Department Marketing Department Ticket Booking Hotel Booking Billing Department Forex Department
Department Department
Foreign Exchange
Manager
Senior. Finance Hotel Ticket Billing Prepare
Manager Marketing Manager Booking Manager Manager Foreign Exchange
Manager
____________________
Assistant. Finance
Manager Domestic Air Ticket International Air Ticket
Booking Booking
33
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
RESEARCH METHODOLOGY
34
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
This project acts as a reference guide or as a source of information. It gives the idea
about the financial analysis of the firm. The main scope of the study was to put into practical the
theoretical aspect of the study into real life work experience. The study deals with analysis and
interpretation of the data collected through the sources of primary and secondary data for a
period of five financial years. I.e. 2004-2005, 2005-2006, 2006-2007, 2007-2008 and 2008-2009
Graphs, diagrams and tabulation methods are used to analyze and interpret the data collected. It
will help to understand the companys liquidity position. Since the decision regarding working
capital are of an operating nature not one time decision, the scope of the study is geared towards
identifying important areas of control and to establish model for better control of the various
components of working capital
The study would also attempt to identify the various sources available for financing of
working capital.
The study gives a fair idea of improvement in efficiency of working capital management
and also to have proper control over the components of working capital and managing of
efficiency.
35
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
To know the solvency of the company & how the company is managing working
capital.
The basic objective of the study is to see the liquidity position of the company
Methodology
36
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
The data in this project is enabling in secondary in nature. Financial reports, company
records were referred for data analysis. The study has been undertaken by collecting relevant
data from the balance sheet, profit and loss a/c, annul report & Audit report of the shree Dayal
tours & travels Pvt ltd. the company is used financial tools for the analyzing and interpretation
data.
However primary data is also collected by observation discussing with company officials.
This primary data is used to fill in the gaps while preparing this report and to know the latest
procedures adopted by the company. This has helped to draw inferences and conclusions.
Sources of data
Primary Data
Secondary Data
Primary Data:-
The primary data are those, which are collected fresh for the first time
and thus happen to be original in character. The primary data collection involves the
collecting of information for the first time by observation, experimentation, and
questionnaire and through interview schedules in the original form by the researcher himself
or his nominees.
Plan of action
The primary data was collected through discussion with the finance manager using the
interview schedule. This data was obtained to study the latest procedures relating to working
capital management and ratio analysis system followed by the company
Secondary data:-
37
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
The secondary data are those, which have been collected by some other and which
have been processed. Generally speaking secondary data are information, which have been
previously collected by some organization to satisfy his own need. But the department under
reference for an entirely different reason is using it.
I was used secondary sources also for collecting the data. They are:
Information from the text sources
Information form the internet sources
Information from the materials provided by the concern
SAMPLING DESIGN
2 Sampling unit : Financial Statements & Audit Reports
3 Sampling Size :Last five years financial statements
.
38
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
MEANING OF CAPITAL
FORM OF CAPITAL
MEANING OF WORKING CAPITAL
TYPE OF WORKING CAPITAL
NATURE OF WORKING CAPITAL
FACTORS DETERMINING WORKING CAPITAL
REQUIREMENTS
FINANCING OF WORKING CAPITAL
COMPONENTS OF W.C
WORKING CAPITAL COMPOSITION
CAPITAL
39
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Introduction:-
Capital is the keynote of economic development. In this modern age, the level of
economic development is determined by the proportion of capital available.
Meaning of Capital:-
In the ordinary sense of the word Capital means money. But in economics, Capital
has a special meaning. All those man made goods used in the production process is called capital.
Definition:-
Capital consists of all kinds of wealth, other than free gifts of nature which yield
income.
Features of Capital:-
Capital has the following features.
Forms of capital:-
40
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Equity Capital
Debt Capital
Specialty Capital
1* Fixed Capital.
2* Working Capital
Equity Capital :-
Debt Capital :-
This type of capital is infused into a business with the understanding
that it must be paid back at a predetermined future date. In the meantime, the owner of
the capital (typically a bank, bondholders, or a wealthy individual), agree to accept
interest in exchange for you using their money. Think of interest expense as the cost of
renting the capital to expand your business; it is often known as the cost of capital.
For many young businesses, debt can be the easiest way to expand because it is
relatively easy to access and is understood by the average American worker thanks to
widespread home ownership and the community-based nature of banks. The profit for the
owners is the difference between the return on capital and the cost of capital.
Specialty Capital :-
41
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
This is the gold standard. There are a few sources of capital that have
almost no economic cost and can take the limits off of growth. They include things such
as a negative cash conversion cycle (vendor financing), insurance float, etc.
Negative Cash Conversion (Vendor Financing) Imagine you own a retail store. To expand
your business, you need $1 million in capital to open a new location. Most of this is the
result of needing to go out, buy your inventory, and stock your shelves with merchandise.
You wait and hope that one day customers come in and pay you. In the meantime, you
have capital (either debt or equity capital) tied up in the business in the form of inventory.
Now, imagine if you could get your customers to pay you before you had to pay for your
merchandise. This would allow you to carry far more merchandise than your
capitalization structure would otherwise allow. AutoZone is a great example; it has
convinced its vendors to put their products on its shelves and retain ownership until the
moment that a customer walks up to the front of one of AutoZones stores and pays for
the goods. At that precise second, the vendor sells it to AutoZone which in turn sells it to
the customer. This allows them to expand far more rapidly and return more money to the
owners of the business in the form of share repurchases (cash dividends would also be an
option) because they dont have to tie up hundreds of millions of dollars in inventory. In
the meantime, the increased cash in the business as a result of more favorable vendor
terms and / or getting your customers to pay you sooner allows you to generate more
Income than your equity or debt alone would permit. Typically, vendor financing can be
measured in part by looking at the percentage of inventories to accounts payable (the
higher the percentage, the better), and analyzing the cash conversion cycle; the more days
negative, the better. Dell Computer was famous for its nearly two or three week
negative cash conversion cycle which allowed it to grow from a college dorm room to the
largest computer company in the world with little or no debt in less than a single
generation.
Float
Insurance companies that collect money and can generate income by
42
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
investing the funds before paying it them out in the future in the form of policyholder
payouts when a car is damaged, or replacing a home when destroyed in a tornado, are in a
very good place. As Buffet describes it, float is money that a company holds but does not
own. It has all of the benefits of debt but none of the drawbacks.
His most important consideration is the cost of capital that is, how much
money it costs the owners of a business to generate float. In exceptional cases, the cost
can actually be negative; that is, you are paid to invest other peoples money plus you get
to keep the income from the investments. Other businesses can develop forms of float but
it can be very difficult.
Sweat Equity
There is also a form of capital known as sweat equity which is when an owner
bootstraps operations by putting in long hours at a low rate of pay per hour making up for
the lack of capital necessary to hire sufficient employees to do the job well and let them
work an ordinarily forty hour workweek. Although it is largely intangible and does not
count as financial capital, it can be estimated as the cost of payroll saved as a result of
excess hours worked by the owners. The hope is that the business will grow fast enough
to compensate the owner for the low-pay, long-hour sweat equity infused into the
enterprise
. 1. Fixed Capital :-
Fixed capital is one, which can be used in production again and again for a long
period. In other words, fixed capital is the capital, which can be used over and over in the
process of production. It is a capital, which is durable and can be used over a long period of time.
For example: - Machinery, building, tools, implements etc.
2. Working Capital :-
Working Capital is the capital which can be used only once in the process of production.
In other words, It refers to capital which can be used only once in production. It loses its utility
after a single use.E.g: - Raw material, Coal and petroleum, Payment of wages etc.
INTRODUCTION
43
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
As every enterprise knows that, working capital is the lifeblood and control
of nerve center of the business. Just as circulation of blood is the essential for
maintaining life, working capital is also essential for maintaining the smooth running of
the business.
44
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
The financing required by a concern for carrying on its day-to day operations is known
as the working capital.
In Accounting:
Working capital is the difference between the inflow and outflow of funds. In other
words, it is the net cash inflow
Thus it is defined as
The excess of current assets over current liabilities and provisions.
Working capital is a liquidity (cash) concept. A business might show a "profit," but if it
cannot maintain a positive cash position (that is, having money in the bank to pay bills
each month), the business cannot continue to operate.
Positive working capital means that the company is able to pay off its short-term
liabilities. Negative working capital means that a company currently is unable to meet its
short-term liabilities with its current assets.
45
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Working Capital Management is concerned with the problem that arises in attempting to
managing the current assets & current liabilities & the inter relationship that exits between them.
Working of a firm should neither be too large, too small. If the working capital is large,
the liquidity position would improve, but profitability would be advertise affected, as funds will
remain idle conversely, if the working capital is too small, the overall profitability, position &
make the firm more risky working capital management therefore at aim at striving a balance,
such that an enterprise is able to.
This involves planning & controlling all the items, which drains or augment liquidity.
The working capital is the lifeblood business, which circulates through the naves as short-
term investment in aforesaid areas. It is also regarded as a heart of business. If it becomes weak
the business can hardly prosper & survive. This brightness the opportunity for achieving highs of
success.
Introduction
46
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
The financial concept of working capital equates it with current assets. According
to this view the total of the working capital is the total value of the current assets of the
company. This is known as the Gross working capital.
According to the excess of current assets, over current liabilities. In other words, it
is the difference between current assets and current liabilities. This concept of working
capital is called the Net Working Capital.
Hence there two concepts of working capital.
The Gross Working Capital (also known as circulating capital, operating capital or
current capitals) represent the quantitative aspect of Working capital since it concerns with the
total value of current assets to be held by the company. The management of Gross working
capital is a short-term phenomenon involving a continuous study of the fluctuation in investment
in current assets. The aim is to neither maintain the level of current assets at proper level neither
at a high level involving unnecessary costs nor at a low level threatening. Production needs.
Current assets include cash in hands, bank balance, bills receivables, sundry debtors, short-term
loans advances, inventories and marketable seventies.
47
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
The net working capital is the difference between current assets and current liabilities. The
concept of net working capital enables a firm to determine how much amount is left for
operational requirements. The net working capital is financed from long term sources which may
includes barrowed funds in the form of term loans, debentures etc. or own funds like plough-
back profits, etc, or both. The management of net working capital is a long-term phenomenon
current liabilities include bills payable, sundry creditors, short-term loans advances and bank
OD.
Needles to say that the firm aims at maximizing the wealth of shareholders wealth .They
should earn sufficient return from its operations. To earn sufficient amt of profit it requires
successful sales utilized to their fullest capacity for this purpose proper management of working
capital is essential because fixed assets cant work without working capital.
Various research studies suggest. The Gujarat study team, Gujarat the SBI study team has
confirmed that inadequacy of working capital and improper management of working capital has
contributed enormously for the ailment of industrial enterprises.
Working capital management refers to the administration of all aspects of current assets. If has
been observed that a creation of financial manager time is utilized in the management of working
capital. It is devoted for raising working capital and managing it efficiently.
Nature of Business Seasonality of operations Market Condition Supply condition C.A C.L
.
48
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Introduction: -
This chapter put forth the discussion on the sources available for financing the
working capital of an organization.
Factoring
49
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Cash management
Receivables management
CASH MANAGEMENT
Cash is the liquid form of an asset. It is the ready money available in the firm
or with the business, essential for its operations. A firm needs the cash for the following
three purposes:
Transaction Motive: The firm must and should keep the funds for transactions like
purchase, sales etc. These activities, which are not known in advance, are not considered
while preparing a cash budget.
Precautionary motive: The firm also keeps funds for the safeguard against
uncertainties, which are an integral part of business operations.
RECEIVABLES MANAGEMENT
Receivable represents amounts owed to the firm as a result of sale of goods or
services on the ordinary course of business. These are claims of the firm against its
customers and form part of its current assets. These receivables are carried for the
customers. The period of credit and extent of receivables depends upon the credit policy
followed by the firm. The main purpose of maintaining or investing in receivables is to
meet competitors, to increase sales, and to maintain a cordial relationship with the clients.
Receivables management is the process of making decisions relating to
investment in trade debtors. However, at the same time, investment in this current asset
involves cost considerations also. Therefore, there is always a risk of bad debts too.
Credit Evaluation
There are three approaches used for credit evaluation. These are:
50
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Introduction: -
This part unfolds the discussion on the composition of the working capital i.e. the
proportion different current assets is determined by the trade of between the two seemingly
opposite objectives of liquidity and portability.
Liquidity refers to the ability of an asset get convert into cash at short period and
without loss in value .A Company is said to liquid when they arise. This ability is also known as
technical solvency of the company. The creditors and other lenders of the company would like to
have the ability of meet their dues on their due dates this means much of the current assets
should be held in the form of cash and near near-cash items like marketable. Securities, But cash
is a non-earning asset and yield on marketable seethes will affect the profitability of the concern.
The consideration of the profitability requires that the level of current assets is
kept low and also such a form as will aid production and generate surplus. Thus the objectives of
liquidity (solvency) and profitability seem to operate in opposite to directions. While liquidity
requires large we current assets to be kept and of that mostly in cash and near-cash form
profitability requires that the current assets should be kept at low levels and that too in form,
which will contribute to production. By proper planning the opposing objectives can be
recognized and made to compliment each other.
Keeping liquidity at adequate levels helps the managers to concentrate on
production in a congenial atmosphere and by increase the efficiency of functioning. This leads to
greatly profitability, since the profits ultimately constitute the sources of repayment of the
companys dues, higher profits increase the liquidity of the concern.
Conclusion:-
Thus the chapter states that the objectives of liquidity and profitability seem to
operate in opposite directions, while liquidity requires large current assets to be kept and
profitability requires the current assets should be kept at low levels, which will contribute to
production.
51
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
52
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Ratio Analysis
1) Net Working Capital:-
Net working capital is the difference between current assets and current
Liabilities.
Years Current Asset Current Liabilities NWC
2004-05 26352381.81 6122630.12 20229751.69
2005-06 30087971.00 6843164.00 23244807.00
2006-07 46858833.00 9979106.00 36879727.00
2007-08 44389218.00 12123368.00 32265850.00
2008-09 62495041.00 11527167.00 50967874.00
Ratio
60000000.00
50000000.00
NWC
40000000.00
30000000.00 Ratio
20000000.00
10000000.00
0.00
2004-05 2005-06 2006-07 2007-08 2008-
09
year
INTERPRETATIO:-
In The year 2004-05 the company has 20229751.69 N.W.C. In the
year 2005-06 the N.W.C is 23244807.00 and in the year 2006-07 the company has
36879727.00.NW.C But in the year 2007-08 the company has 32265850.00 N.W.C but
the N.W.C has decline drastically compared to the previous years, but in the year 2008-09
the company has 50967874.00 N.W.C that means the company in a favorable position &
N.W.C has improved vary fast as compared to the previous years which show liquidity
Position of the Shree Dayal Tours & Travels Pvt Ltd has always more & sufficient
working capital available to pay off its current liabilities.
53
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
2. Current Ratio:-
Current ratio is a measure of firms short-term solvency. This ratio is also known as
working capital Ratio. Current ratio is a measure of general liquidity and is most widely used to
check the relationship of the current assets and current liability. The standard current ratio is 2:1.
INTERPRETATION:-
The current ratio was 4.304 in the year 2004 2005 and the year 2005-
2006 the current ratio was 4.397 and in the year 2006 -2007 the current ratio was 4.696 this show
the current ratio has increase every year but in the year 2007-2008 the current ratio was
decreased to 3.661.in the year 2008 2009 the current ratio has increases 5.422 .The current
ratio is above the standard of 2: 1 ratio and hence it can be said that there is enough working
capital in Shree Dayal Tours & Travels Pvt Ltd to meet its current liabilities.
Concept: -
54
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Absolute liquidity ratio is a ratio of cash in hand and cash at bank to current liabilities. The
standard ratio is 0.5: 1.
Diagram: -
INTERPRETATION:-
The absolute liquidity ratio was 0.15 in the year 2004-2005 and decreased
to 0.10 in the year 2005 2006 and it does not increase further up to 2008-2009.But in the year
2007 -2008 and 2008-2009 it was same. The absolute liquidity ratio is below the standard of 0.5:
1 ratio. It shows that the liquidity position of the concern is unsatisfactory
Concept: -
This ratio indicates very short term or immediate or very instant financial position.
55
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Diagram: -
INTERPRETATION:-
The absolute liquidity ratio was 4.30 in the year 2004-2005 and increases to 4.40 in the
year 2005 2006 and 4.70 in the year 2006-07, 3.66 in the year 2007-2008 it was decrease due
to increase of labilities.But in the year 2008 -2009 the L.R has increased 5.42 because the C.L
has decreased. The liquidity ratio is above the standard of 1: 1 ratio. It shows that the liquidity
position of the company is satisfactory.
56
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Current Asset
INTERPRETATION:-
The Returns on current assets was 0.016 in the year 2004-2005 and it
decreased to 0.12 in the year 2006-2007. It further increased to 0.019 in the year 2007-2008 and
further decreased 0.016 in the year 2008-2009 .It shows that profit will increase then asset
turnover ratio will decline then C.A will increase but in the year 2007-2008 asset ratio was
increased 0.19 because C.A has fall that year. Company has profit transferred to the reserve and
surplus Account shown in balance sheet..
57
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Asset
2004 2005 102199181.00 19967762.36 5.11 time
2005 2006 132858985.00 28220176.41 4.70 time
2006 2007 171671451.00 38473402.00 4.46 time
2007-2008 221246824.00 45624025.5 4.84 time
2008-2009 286246257.00 53442129.5 5.35 time
Diagram: -
INTERPRETATION:-
The current asset ratio was 5.11 times in the year 2004-2005 and 4.70 in
the year 2005-06 and 4.46 in the year 2006-2007 it was decreased. It further increased to 4.48 in
the year 2007-08 & 5.35 in the year 2008-2009. It shows that the current assets are not utilized
properly.
Concept: -
Debtors are expected to be converted into cash over a short period of time and
therefore are included in current assets. It shows how many times debtors are converted into cash
in a year.
58
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Diagram: -
INTERPRETATION:-
The debtors turnover ratio was very less in the year 2006-07 at 4.72
times, but them it has increased to 5.19, 5.66 times in the year 2007-08 and 2008-09. This shows
that the company is making all the offers to speed up the collection process.
Concept: -
Creditors turnover ratio establishes relationship between not credit purchases and
average trade creditors and accounts payable. The ratio indicates the velocity with which the
creditors are turned over in relation to purchases.
59
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Diagram: -
INTERPRETATION:-
The creditors turnover ratio was 1.17 times in the year 2004-05 & it
decreased to 1.13 times in the year 2006-2007 but creditor turnover will be remain same two
year 2005-06 and 2006-07.Thean it was again declined 1.12 in the Year 2007-08. But it was
remain same in the year 2007-08 and 2008-09. Generally lower the ratio better is the liquidity
position of the firm and vice versa
60
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Diagram:
INTERPRETATION:-
The Net profit of the company 0.43% in the year 2004-05,0.32 in the
year 2005-06 , 0.35 in the year 2006-07 ,0.36 in the year 2008-09. Net profit ratio was show the
net profit after tax in the year 437894 in 04-05 but it was fall in the year 2005-2006 there for net
profit ratio is falling.
61
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Diagram:
INTERPRETATION:-
In The year 2004 -2005 debt equity ratio was 5.19 and 3.59 ,4.87 in the
year 2005-06 and 2006-07 .in the year 2005 debt equity ratio fall because shareholder fund was
increased. But long term borrowing slow increasing .But in the year debt ratio has decreased 3.53
in the year 2007-08.but in the year 2008-09 the debt equity ratio has increased 5.36. Because
long term borrowing and shareholder fund also increases.
62
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Diagram:
INTERPRETATION:
In The year 2004-05 working capital t/o ratio was5.05 time ,5.72 time in the year 2005-
2006.In the year 2005-06 the working capital has increases because sales of the company has
increases. in the year 2006-07it was 4.65, 6.86,5.62 in the year 2007-2008 and 2008-09.it show
the newly established company because the working capital up and down year to year.
63
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Networking Capital
(Current Asset 20229751.69 1946795.28 18282956.41
Current Liability)
64
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Current Liabilities
Sundry creditors 5663415.00 5366937.00 296478.00 -
Provisions
Provisions for taxation 527500.00 233500.00 294000.00 -
Provisions for F.B.T 34590.00 -
Networking Capital
(Current Asset 23244807.00 20229751.69 3015055.31 -
Current Liability)
65
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Current Liabilities
Sundry creditors 8090866.00 5663415.00 2427451.00 -
Provisions
Provisions for taxation 927500.00 527500.00 400000.00 -
Provisions for F.B.T 69590.00 34590.00 35000.00 -
Networking Capital
(Current Asset 36879727.00 23244807.00 13634920.00 -
Current Liability)
66
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Current Liabilities
Sundry creditors 9854397.00 8090866.00 1763531.00 -
Provisions
Provisions for taxation 1362500.00 927500.00 435000.00 -
Provisions for F.B.T 104590.00 69590.00 35000.00 -
Networking Capital
(Current Asset 32265850.00 36879727.00 - 4613877.00
Current Liability)
67
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Current Liabilities
Sundry creditors 8916827.00 9854397.00 - 937570.00
Provisions
Provisions for 2012500.00 1362500.00 650000.00 -
taxation
Provisions for F.B.T 179590.00 104590.00 75000.00 -
Networking Capital
(Current Asset 50967874.00 32265850.00 18702024.00 -
Current Liability)
The working of the company should be positive. It should not be negative. In the
year 2004-2005 Rs. 20229751.69 and in the year 2005-2006 Rs. 23244807.00 the working
capital has increased and 2006-2007, Rs.36879727.00 the working capital has increased but in
the year 2007-2008 Rs.32265850.00 the working capital has decrased.But in the year 2008-2009
the working capital of Shree dayal tours & travels Pvt Ltd has again increased Rs.5067874.00
The Shree Dayal Tours & Travels Pvt Ltd working capital has incrasesed which is favorable
position to the company. It clearly shows that the Shree Dayal Tours & Travels Pvt Ltd has
profit orient company. So it was not facing shortage of working capital in initial years. So it had
to increase its working capital to stand in the business world.
68
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Then again in the year2008-2009 the Shree Dayal Tours & Travels Pvt Ltd Net Working
Capital has increased Rs.50967874.00, which is a very positive sign of prosperity and it, will
help to the Shree Dayal Tours & Travels Pvt Ltd sustain its expansion programs.
Conclusion
The Working Capital Management contributes much in the over all management
of the organization affairs, efficiency of organization operations depend on how it manages its
short term business dealings. Working Capital management contributes for the firm efficiency as
well as the finance manager is proper utilizing the available wealth and maintaining the required
liquidity.
69
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
FINDINGS:-
The net working capital has declined in the year 2007-2008 and but the profit of the
company was increased in the year 2007-2008
70
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
The Shree dayal tours & Travels Pvt Ltd has abled to repay the liability & loan of the
creditors or not. And also liquidity ratio of shree dayal tours and travels has declined
year to year and some year it will remain the same.
The Return on current assets of shree dayal tours & travels Pvt Ltd is vary high in the
year 2007-2008 and
Company is able to full the standard ratio of current assets and change in working
capital of 2007-2008 has declined.
SUGGESIONS: -
In the year 2007-2008 the current assets of the Shree Dayal tours and travels Pvt Ltd
has declined and current liability of the company has increases there for the net
working capital declined. There for the current ratio has declined. The net working
capital of the company has increased remaining year .But profit has increased because
the sales has increased in the year 2007-2008.
71
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
The company has abled to repay the liability of the creditors because of the current
ratio of SDT&TPL is above the standard of current ratio i.e. 2:1. The profit of the
company has increased every year.
Because of the current assets has declined in the year 2007-2008 but profit of the
company has increased in the year 2008-2009. There for the return on current assets is
vary high.
Company has able to full fill the standard level of current ratio i.e. 2:1 .There for the
company has able to repay the liability and loan of company and the change in
working capital declined in the year 2007-2008 due to the sundry creditors has more
and Provision of tax has been vary high.
Conclusion: -
After going through the different aspects of the industry departments and the awards it
has received in different fields. There is good relationship between the directors and employee.
The management concerned about employees complete health and wealth. Working capital may
be regarded as lifeblood of a business. Its effective provision can do much to ensure the success
of a business
Today working capital is considered to be an important tool for progress. Working capital
management techniques are playing significant role in assisting the management for decision
72
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
making. The study of working capital management at Shree Dayal Tours & Travels Pvt Ltd Is
found to be very effective. The working capital contains the management of Cash, Debtors, and
creditors. The Shree Dayal tours and travels Pvt Ltd has profit oriented company .The profit of
the company will be increases every year .The company has able to the repay the amount of the
creditor. The company has more working capital and also sale has increases year to year .The
company current ratio has above the standard current ratio i.e. 2:1 but company current ratio is
above 3:1.The Company has financially soundness.
.
73
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
Financial Statement
74
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
TOTAL 52,018,512.00
APPLICATIONS OF FUNDS
Fixed Assets: E 12,91,998.00
Gross Block 2,67,700.00
Less: Accumulated Depreciation
Net Block 10,24,298.00
INVESTMENTS
Current Assets, Loans & Advances F 0
Sundry Debtors
Cash and bank balances G 5,94,88,569.00
Loans and Advances H 6,64,627.00
I 23,41,845.00
Less: Current Liabilities & provisions (A) 62,495,041.00
Current Liabilities
Provisions J 93,35,077.00
K 21,92,090.00
NET CURRNT ASSETS (B)
(A-B) 5,09,67,874.00
Miscellaneous Expenditure K 26,340.00
( To the extent not written off or adjusted)
TOTAL
5,20,18512.00
75
WORKING CAPITAL MANAGEMENT OF SHREE DAYAL TOURS & TRAVELS PVT LTD
76