COMPANY REPORT SUBMITTED TOWARDS THE PARTIAL FULFILLMENT OF

UNDERGRADUATION DEGREE IN INTERNATIONAL BUSINESS

BUSINESS PROCESSES AND COMPANY REPORT ON

HAFCO BRASS CORPORATION IN THE SECTOR OF BRASS HANDICRAFTS
INDUSTRIES

SUBMITTED BY:
UMAIR UL HAQUE
A1833312004
BBA IB (2012-2015)

FACULTY GUIDE:
Ms. Chitra Bajpai
AIBS

AMITY INTERNATIONAL BUSINESS SCHOOL

NOIDA
AMITY UNIVERSITY UTTAR PRADESH

ACKNOWLEDGEMENT
There is always a sense of gratitude and respect which one expresses to others for
the help or service they render during all the important and needy phases of life. I
would like to express my gratitude towards all those who have been helpful to me in
taking this task of a company report to a successful conclusion.
Concentration, dedication & application are for sure very necessary but not sufficient
to achieve any goal. These must be awarded and accompanied by guidance,
assistance and co-operation.
A lot of people have shared their valuable knowledge, time and ideas to enable me to
complete and compile the report. I am extremely indebted to all for their ideas and
assistance while bearing the entire responsibility for weakness in the report. In
preparation of the report, I feel a great sense of pleasure because it gives me
extensive and valuable practical knowledge in my career.
I extend my heartfelt thanks to my faculty guide Ms. Chitra Bajpai , for her continuous
support, endless encouragement, Invaluable help and guidance without which this
project would not have been successfully completed.

CERTIFICATE
I, Chitra Bajpai , hereby certify that Umair Ul Haque student of Bachelors Of Business
Administration International Business at Amity International Business School, Amity
University Uttar Pradesh has completed the Company Report on Business Processes
of HAFCO BRASS CORPORATION in the field of Brass Exports Industry under my
guidance.

Ms. Chitra Bajpai ,

Faculty Guide
AIBS
AMITY UNIVERSITY.

Table of Contents
Objective.
.................................................................................
....5
Research
Methodology ....................................................
...........6
Industry
Analysis ....................................................
........7
Brass Handicrafts And Its
Background...8-9
Profile Of HAFCO BRASS CORPORATION
10-11
Companys
Products...12-15
Mission And Vision Of the
Company.16
Companys Expenditure From Its
Revenues....17
Accounting ....................................................................
......................................18
Manufacturing And Packing...
19

Conclusion.
.20
Bibliography.
..21

OBJECTIVE OF THE REPORT:

1. To know about the business rules, management process and activities of an Export
firm.
2. To know about the nature of work related to finance and accounts in Exports sector.
3. To sharpen the knowledge and skills in management of an Export firm.

Research Methodology:
Sampling plan:

There is no sampling plan as such as the study involved in

understanding the various processes and analyzing them. The study involved in the
detailed analysis of secondary data calculated from various sources and therefore no
sample size and plan has been considered.

Sources of data:

The part of the data is collected from the various secondary

sources.

Data Source
Secondary Sources:
Report of the company
Internet

INDUSTRY ANALYSIS
INDIAN HANDICRAFTS EXPORTERS

Indian Handicraft Exporters represents an association of over 700 indian handmade

crafts manufacturers, brass handicraft exporters , glass handicraft suppliers,
bamboo art manufacturers, glass beads wholesalers, bone handicraft manufacturers,
wooden handicraft exporters, clay work suppliers, ceramic and pottery wholesalers
etc.
Each member of the group is a verified manufacturer/exporter of Indian Handicraftsregistered with Directorate General Foreign Trade (DGFT), India.
India is one of the important suppliers of handicrafts to the world market. The Indian
handicrafts industry is highly labour intensive cottage based industry and
decentralized, being spread all over the country in rural and urban areas. Numerous
artisans are engaged in crafts work on part-time basis. The industry provides
employment to over six million artisans (including those in carpet trade), which include
a large number of women and people belonging to the weaker sections of the society.
In addition to the high potential for employment, the sector is economically important
from the point of low capital investment, high ratio of value addition, and high potential

for export and foreign exchange earnings for the country. The export earnings from
Indian handicrafts industry for the period 1998-99 amounted to US$ 1.2 billion.
Although exports of handicrafts appear to be sizeable, Indias share in world imports is
miniscule. It is a sector that is still not completely explored from the point of view of
hidden potential areas. India, a country with 26 states and 18 languages and more
than 1500 dialects offers an enormous range of handicrafts from each of the states.
Major centres in Uttar Pradesh are Moradabad also known as the "Peetalnagari"
(City of Brass).

BRASS HANDICRAFTS
BACKGROUND:
Brass is a metal composed primarily of copper and zinc. Copper is the main
component, and brass is usually classified as a copper alloy. The color of brass varies
from dark reddish brown to a light silvery yellow depending on the amount of zinc
present; the more zinc, the lighter the color. The zinc content can vary between 10%
to about 45 %.
Brass is specified because of the unique combination of properties, stronger and
harder than copper, it is easy to form into various shapes, a good conductor of heat,
and generally resistant to corrosion from salt water.
Because of these properties, Brass is usually the first-choice material for many of the
components for equipment made in the general, electrical and precision engineering
industries brass is also used to make pipes and tubes, weatherstripping and other
architectural trim pieces, screws, radiators, musical instruments and cartridge casting
for firearms. Matched by no other material, those make it indispensable where a long,
costeffective service life is required

HISTORY OF THE BRASS INDUSTRY:

The discovery of metal changed the lives of the people in the ancient world. Metal
and its alloy made agriculture easier, providing farmers with more efficient tools to
work their land. Armies that possessed metal knives, swords, and shields were no
match for those that did not. The first two metal and its alloy widely used by humans,
copper (and its alloy brass) and gold are still important in peoples lives today.

India is the largest brass-making country in the world.

This art has been practiced in India for over 5 million years.49 In the field of brass
work a variety of styles are seen in different parts of India.
The Northern & North Eastern industries of brass include Moradabad , Aligarh,
Hathras and Varanasi in Uttar Pradesh; Mayurbhang, Dhenkenal, Keonjhar and
Sundergarh in Orissa; Jaipur and Jodhpur in Rajasthan; Jagadhari and Rewari in
Haryana; Udhampur, Sambha and Bhansali in Jammu & Kashmir; Kurkhihar in Bihar;
Hazo and Sarthebari in Assam; Purulia, Bankura, Birbhumi, Murshidabad in West
Bengal and Delhi etc.
The important clusters of the brass in the Southern and Western regions are
Pembertha and Hyderabad in Andhra Pradesh; Bidar, Negamangala, mysore and
Gadag in Karnataka (Bidriwar); Swamimalai, Nachiarkoil, Madurai, Kumbakonam,
Tirupur and Tanjore in Tamil Nadu; Ambarnath, Thana, Kalyan and Nasik in
Maharashtra; Trichur in Kerala; Jamnagar in Gujarat and Pondicherry, etc.

PROFILE OF THE COMPANY:

HAFCO BRASS CORPORATION is a manufacturer of decorative products,
decorative handicrafts products, decorative articles, decorative candles, decorative
laminates and brass artwares. It wasestablished in the year 1999 and is one of a
leading Manufacturer of Arts Crafts and Brass Artwares. HAFCO BRASS
CORPORATIONis a private company categorized under Brass Goods.
It deals in all kind of brass artwares and manufacturing takes place through extensive
machinery and hard labour work through various procedures.
Hafco Brass Corporation have grown to be a market leader when it comes to
manufacturing and exporting brass and artwares goods. With their integrated trading
unit equipped with sophisticated technology, they ensure that high quality products are
manufactured.
Health, Safety and Environment (HSE) is the prime concern while carrying out all
operations and the company has a well-defined HSE Policy to ensure safe working
conditions,The company takes responsibility towards the betterment of working
conditions for the employees and ensures that every activity is environment friendly.
Every employee is motivated and supervised by various supervisors and their safety is
ensured with all necessary First Aid and safety measurements around working places.
The Accounts are maintained through a systematic order of Accounting considering
various expenditures of the company and revenues that it earns through the export of

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brass artwares and finished products as per the orders given by various parties or
clients from across the globe.
The firm has exported various brass items made through the manufacturing plants
and labour work and gets its revenues from the same.
The key to companys success lies in its ability to pick the right people and steadfastly
holding on to the groups work culture, rooted in innovation, flexibility and ingenuity,
these people are the mainstay of companys success.

QUALITY:

They, as a matter of policy, source only the best quality products from the mines to
market. They ensure that the products they export are strictly according to the
specification of the buyers. This ensures that their products have a higher rate of
acceptability in the market as they are closer to the expectation of the buyers. They
have a team of specialised professionals who selects the right kind of vendors and
procure the best quality materials from them.

Hafco brass corporation produces the items in finest quality as per the specifications
or samples from their customers. They have special set up for different finishes.
Starting from the ingot the whole process of manufacturing is done within their own
factory and finally finished goods perfect in all respects come out. Since they only
reproduce the items exclusive to our buyers and therefore we do not maintain our own
catalogue and website. One of the special features of their working is that, they fully
concentrate even on minute detail of workmanship. Modification, if required, is done
perfectly. All this reflects the main features of the company and their business
processes and working nature.

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Fact Sheet:
Establishment Year :1999
Member with INDIAmart Since:2011
Firm:Partnership

Business Nature:Manufacturer
Ownership Status of

PRODUCTS:

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BRASS CHANDELIER

CANDLESTANDS

13

URNS

14

LAMPSHADES

15

BRASS DECORATIVES AND ARTWARES

16

MISSON AND VISION OF THE COMPANY:

HAFCO BRASS CORPORATION are leading manufacturers and exporters of high

quality brass products in the brass industry for more than 10 years. Their mission
is to satisfy the customer by providing the brass products at competitive price with
highest quality, dimensional accuracy, precision and timely delivery.
They have been catering to an ever-increasing demand of variety of brass products
for various buyers with their wide product range of such as brass handicrafts,
artwares, decorative items, lampshades, chandeliers etc.
They assure the customer's needs and satisfaction by providing best of the
manufactured products for brass by matching customer's specifications and
requirements.

HBC along with its revenues earned from the export of its various products , has
certain expenditures incurred in the course of business on daily basis on various
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aspects. These expenditures affect the company very importantly as they occur on
daily basis and are to be considered of great importance in order to maintain the
smooth working of the company.
EXPENDITURE: Major expenditure is being done in the following areas:(i)

Salary to employees- Almost 20% of revenue goes for salary of employee.

(ii)

Procurement of Machinery and its spare parts- Approximate 20%

expenditure is incurred for the purchase of Machinery and Spare parts.

(iii)

Repairing of Vehicles and machinery- 2.5% revenue goes on the above

head. Company has approved and authorized workshop for repairing of
vehicles and machinery.

(iv)

Procurement of diesel for running of generators and engine on site15% expenditure is incurred for the purchase of diesel. Huge quantity of
diesels are required for running of gen sets and engine at manufacturing
site.

(v)

Phone and internet bill- 3% (approx.) expense is incurred on

communication.

(vi)

Printing and stationary- 2% expense is incurred on this account.

(vii)

Incentives- 0.97% is being paid towards the incentives for doing the good
job to employees.

(vii)Travel and transport expenses- 7% (approx.) expenditure is being done

on this account.

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ACCOUNTING:
Accounting is being maintained in HAFCO BRASS CORPORATION In a significant
manner.
1. Cash Book: A financial journal that contains all cash receipts and payments,
including bank deposits and withdrawals. Entries in the cash book are then posted into
the General, Personal & Nominal Ledgers. The cash book is reconciled day by day
with the bank statements as an internal method of auditing.
2.Journal: A daily record of events or business; the private journal is usually referred
to as a dairy. It is also reconciled periodically.
3.Trial Balance: A trial balance is a list of closing balances of all ledgers having
balance at the end of the period. This list contains the name of the ledger account and
the value of that ledger account. The value of the ledger holds either a debit balance
value or a credit balance value. The debit balance values is listed in the debit column
of the trial balance and the credit value balance is listed in the credit column. The
profit and loss statement and balance sheet and other financial reports can then be
produced using the ledger accounts listed on the trial balance.
4.Bank Reconciliation Statement: A bank reconciliation is a process that explains
the difference between the bank balance shown in an organization's bank statement,
as supplied by the bank, and the corresponding amount shown in the organization's
own accounting records at a particular point in time. Such differences may occur, for
example, because a cheque or a list of cheques issued by the organization has not
been presented to the bank, a banking transaction, such as a credit received, or a
charge made by the bank, has not yet been recorded in the organization's books, or
either the bank or the organization itself has made an error.

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MANUFACTURING AND PACKAGING:

HAFCO BRASS CORPORATION manufactures all its goods and brass items as per
the orders given by the buyers and their specific preferences. The orders are placed in
advance and manufacturing takes place through the use of highly skilled labour and
extensive machinery under supervision of different departmental heads. They keep a
check on the progress and conduct timely inspection.
Once goods are manufactured and processed thoroughly, then the company with its
own packaging unit takes forward all the items and packs them according to the price
and quantity of order placed by the buyers.

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Conclusion:
This report has helped me immensely to gain experience in the department of Brass
Handicrafts and business processes , Revenue Generation and Expenditure and
understand the Management activities in the field of exports of a brass company.
I also came to know that how the work in Finance and Accounts is carried out in a
company and how the company takes forward its business activities with its
managerial framework.
I also developed interest in the finance department as this department has lot of
scope in the future.
It will help me to select the carrier path in future and help me transform into a
successful management leader.

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Bibliography:

Websites:
www.google.com
Other Sources:
-Companys annual report

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