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Preparation of Working Capital Renewal Application for Minda Industries Limited

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In the Year 1958, a visionary Mr. S.L. Minda laid the foundation of Minda group. He like any other entrepreneur, started small garage kind operation with only five employees. He started supplying Ammeters to Enfield India (Motorcycles). Later, Mr. Nirmal K. Minda expanded the single location & product to multi locations & products. Minda Group is manufacturing world class automotive components with stringent quality controls and has become the most favored vendor of automotive components to Indian OEM's.
Minda has developed substantial export market and are supplying our products to global OEM's & Replacement markets. It has strong presence in South East Asia, Europe and USA. Minda Group is actively studying other exports markets for future growth. In business, many companies spend most of their time concentrating on increasing their current profits. They try to increase the profits by either reducing the cost of production or by controlling the expenses of the company. However, too few companies worry very much about managing another equally important area, the area of working capital management.
Working capital, also known as net current assets, is the excess of current assets over current liabilities. Existence of working capital is imperative in any firm. A large amount of funds are invested on fixed assets that can be used at an optimum level only if supported be sufficient working capital. If the level of working capital required by the firm is not properly maintained then it results in unnecessary blocking of funds. Insufficient working capital, on the other hand, put different hindrances in smooth working of the firm. Therefore, the working capital management needs attention of all the financial managers.
The project undertaken was “to prepare the renewal application of working capital for Minda Industries Limited through canara bank” The preparation of the renewal application includes several steps. The very first step is to determine the amount of working capital requirements by each unit. These requirements are evaluated and verified internally and on the basis of that a consolidated requirement is calculated. This consolidated requirement is calculated by preparing CMA i.e. Credit Monitoring Arrangement. CMA is basically prepared to determine the MPBF i.e. Maximum Permissible Bank Finance. MPBF represents the maximum limit upto which the company can raise funds from the banks. This CMA data along with the renewal application is send to the bank. Many other documents are also send to the bank as per the bank’s requirements.

It was a learning experience for me as at Minda employees’ stresses on role clarity at all levels. Role clarity along with Teamwork & co-operation helps us achieving the organizational objective.

Number of Pages of Project Report: 56
Package Includes: Project Report
Project Format: Document (.doc)

Table of Contents of Project Report:
1. Executive Summary
2. Objective
3. Mission
4. Company Profile
- Introduction
- Business Units
- Promoters Information
- Minda Switch Division
- Minda Lighting Division
- Minda Horn Division
- Minda IMPCO
- Competitors
- Collaborations
- Quality Standards
- Milestones
5. Industry Profile
6. Theoretical Review
7. Analysis
8. Comparative Analysis
9. Annexures
10. Limitations
11. Bibliography

Data till 2003

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