Summer Internship

Project Synopsis

Submitted By: Dipendra Raj Tomar PGFA1115 Section A

Synopsis
TOPIC OF THE PROJECT
Working Capital and cash management of Institute of Drilling Technology, ONGC, Dehradun.

PURPOSE OF THE STUDY:

Analysis of the growth, future trend and how the day to day operations are handled, further the study has been done on management of cash in Institute of Drilling Technology, ONGC.

INTRODUCTION TO WORKING CAPITAL MANAGEMENT:

Concept of PSU is not very well defined, as there is no nationally or internationally accepted definition of PSU. Broadly speaking PSU refers to those activities of business which are owned and managed by the central government, state or local providing goods and services for a price. The ownership with the government should be more than 51% or more. Capital is one of the most important factors of production. It is required for financing all the activities on an organization. No business can be established without adequate amount of capital. The capital required for carrying out the day to day operation in an organization is known as working capital. It is the excess of current asset over current liabilities. An adequate amount of working capital is maintained for the smooth running of the firm and the fulfillment of twin objectives of liquidity and profitability. Efficient management of working capital is an important indication of sound health of an organization, which requires reduction of unnecessary blocking of capital in order to bring down cost of financing.

INSTITUTE OF DRILLING TECHNOLOGY, ONGC DEHRADUN

IDT was set up in 1978 at Dehradun. Located in the picturesque valley of Doon, it is engaged in relentless effort in R&D and has rendered excellent service in the area of oil and gas well drilling technology. Over the years, the Institute has emerged as a premier R&D centre in South East Asia, capable of providing advance technical knowledge through training and offering plausible solution to field problems. The Institute with highly qualified and experienced scientists and engineers carries out applied research in all facets of drilling related activities to achieve technical excellence in R&D efforts and assimilation of emerging technologies.

OIL AND GAS CORPORATION, DEHRADUN Key Information About ONGC: Industry Founded Headquarter Oil and gas 14 August 1956 New Delhi, India

Key people Products Revenue Profit Total assets Total equity Employees Website

Sudhir Vasudeva (Chairman & MD) Petroleum, natural gas, and other petrochemicals US$ 26.94 billion (2011) US$ 5.00 billion (2011) US$ 43.45 billion (2011) US$ 25.86 billion (2011) 33,229 (2011) www.ongcindia.com

OBJECTIVE OF THE STUDY:

Management of working capital and their execution process at ONGC. Management of cash. Receivables management. Management of cash in IDT (ONGC). SWOT analysis.

SOURCE OF INFORMATION:
I will be taking Secondary source of information to complete my summer internship project and some of the primary data like forms and other relevant data for the project.