1. Submission of summer internship report of
OMKAR SPEALITY OF CHEMICALS.Ltd
SUBMITED BY
Name: SHASHIKANT S RAUNDAL
Registration No: Sav 83
EXAMINATION NO: MB33572012004
SUBMITTED TO
Dr. Ashok A R Gowda
Director
S A V Acharya Institute of Management Studies
Shelu, Tal. Karjat, Raigad- 410201
1

2. S.A.V. Acharya Institute Of Management Studies
Shelu, Karjat.Raigad- 400201
DECLARATION
I, SHASHIKANT S RAUNDAL hereby declare that this Specialization Project titled
“WORKING CAPITAL ”In “OMKAR SPECILITY OF CHEMICALS.Ltd.” submitted in
the partial fulfillment of the requirement of the award for Master in
Management Studies to The College “S.A.V. Acharya Institute of Management
Studies” is my original work and not submitted for award of any degree or
diploma fellowship or for similar title or prizes.
I further certify that I have no objection and grant the right to S.A.V. Acharya
Institute of Management Studies, to publish any chapter / project if they deem fit
in Journals / Magazines and newspapers etc. without my permission.
Place: Shelu.
Date: 10-Apr-2013
Name: SHASHIKANT S RAUNDAL
Class: MMS, Sem-III
Roll No.MB33572012004
2

3. Certificate
This is to certify that the dissertation submission in partial fulfilment for
the award of Master of Management Studies of S A V Acharya
Institute of Management Studies is a result of the bonafide research
work carried out by SHASHIKANT S RAUNDAL, under the supervision
and guidance of Prof. Sunita Gowda. No part of this report has been
submitted for award of any other similar titles or prizes. The work has
also not been published in any Journals/Magazines.
______________________
_______________________
(Prof.Sunita Gowda.)
(Dr. Ashok A.R. Gowda.)
3

4. ACKNOWLEDGEMENT
I would like to give special acknowledgement to Dr. Ashok GowdaDirector
of S.A.V. Acharya Institute of Management Studies for his consistent
support and motivation.
I am grateful to Prof .SunitaGowda, Assistant Professor and my project
guide, S.A.V. Acharya Institute Of Management Studies for their technical
expertise, advice and excellent guidance. They not only gave my project a
scrupulous critical reading, but added many examples and ideas to improve it.
I am indebted to my other faculty members who gave time and again
reviewed portions of this project and provide many valuable comments.
I would like to express my appreciation towards my friends for their
encouragement and support throughout this project.
4

5. Table of Contents
CHAPTERS
Chapter 1
CONTENTS
1.1Introduction to Summer Internship
Report
PAGE NO
6
1.2Objectives
16
18
Function Of Marketing
19
3.1 Company Product
20
3.2 SWOT Analysis
Chapter 4
8
Function Of Finance
Chapter 3
2.1 Introduction to the Company
Function Of Human Resouce
Chapter 2
7
24
4.1 Conclusions
26
4.2 Bibliography
27
5

6. 1.1 INTRODUCTION OF SUMMER INTERNSHIP
REPORT
Summer internship are usually eight to twelve weeks long and can be full or part
me. More students do internships during the summer than during any other time of
the year. These short term experiences provide a real insight into what it’s actually
like working in particular job or career field. There sample time to get into a
regular work routine and gain valuable knowledge and skill. Summer internship
can be completed for credit but they don’t have to be. Getting credit during
summer internship can be helpful since it can lighten a student’s course load during
fall or spring semester but the downside is that most colleges require tuition in
order for student to receive credit.
Even without receiving credit, the internship will still provide an opportunity to
gain the relevant knowledge and skill required to be field as well as an add
important element to the resume. Gaining relevant experience through internship,
service learning and making professional contacts while there are one of the best
thing a student can do to prepare themselves for getting job in their field.
6

7. 1.2 OBJECTIVES OF SUMMER INTERNSHIP
 Internship will provide students the opportunity to test their interest in a
particular career before permanent commitments are made.
 Internship students will develop in application of theory to practical work
situation.
 Internship students will develop skill and techniques directly applicable to
career.
 Internships will aid student adjusting from college to full time employment.
 Internships will increase a student sense of responsibility.
 Internship provides opportunities for student to develop attitudes to effective
interpersonal relationship.
 Internship students will develop employment record/references that will
enhance employment opportunities.
Internships will provide student with an in-depth knowledge of the formal
functional activities of participating organisation
7

8. INTRODUCTION
OSCL Company was originally incorporated as Omkar Speciality Chemicals Private Limited on
February 24, 2005 and took over business of the Proprietorship Firm M/s.Omkar Chemicals
which was in operation since 1983 with Mr.Pravin S. Herlekar as the Proprietor. The Private
Limited Company was converted into a Public Limited Company on March 18, 2010. OSCL is
mainly engaged in the manufacture and sale of Speciality Chemicals and Intermediates for
Chemical and Allied Industries. Our has four Units at MIDC, Badlapur (E), Dist: Thane,
Maharashtra, India. The locations of our Units are as under:
Unit No.1– W-92(A), MIDC, Badlapur(E), Dist: Thane-421503, State: Maharashtra.
Unit No.2– F-24, MIDC, Badlapur (E), Dist: Thane-421503, State: Maharashtra.
Unit No.3– B-34, MIDC, Badlapur (E), Dist: Thane-421503, State: Maharashtra.
Unit No.4– F-10/1, MIDC, Badlapur (E), Dist: Thane-421503, State: Maharashtra.
8

9. Board Of Directors
Mr. PRAVIN
S.HERLEKAR
Chairman And Managing
Director
B.Tech-Chemical
Engineering from IIT,
MUMBAI. Chairman and
Managing Director of our
Company. He has an overall
experience of 27 years in the
field of Product
Development, Marketing and
Administration.
Mr. OMKAR
P.HERLEKAR
Whole Time Director
Post Graduate from UICT,
Mumbai Having sound
knowledge of Organic
chemistry. Leading the
research team & an
aggressive marketing leader.
He looks after the Research
& Development activities of
our Company and supervises
the entire factory operations
Mr.AMIT PANDIT
Independent Director
He is a Fellow member of the
Institute of Chartered
Accountants of India (ICAI),
holds a Diploma in Business
Finance (DBF) from The
Institute of Chartered
Financial Analysts of India
(ICFAI) and is a commerce
graduate from University of
Bombay.
Mr. SUBASH MALI
Independent Director
He is a Bachelor of
Chemical Engineering from
University of Bombay. He
has an overall experience of
about 34 years.He is on our
board since March 25, 2010.
Dr. VIKAS TELVEKAR
Independent Director
He has done Master of
Science (Technology) and
Doctor of Philosophy
(Technology) in
pharmaceutical and fine
chemicals from Mumbai
University Institute of
Chemical Technology.
Dr. SUHAS RANE
Independent Director
He is a Bachelor of
Engineering (Mechanical)
from University of Bombay.
He also done Diploma in
Management Studies and
Master of Financial
Management from
University of Bombay. He
has an overall experience of
37 years.
9

10. HISTORY
Omkar Speciality Chemicals Limited is primarily involved in the production of Speciality
Chemicals and Pharma Intermediates.They manufacture a range of Organic, Inorganic and
Organo Inorganic Intermediates. The Inorganic Intermediates include Molybdenum derivatives,
Selenium derivatives, Iodine derivatives, Cobalt derivatives, Bismuth and Tungsten derivatives
and the organic intermediates include Tartaric acid derivatives and other intermediates. These
products find applications in various industries like Pharmaceutical Industry, Chemical Industry,
Glass Industry, Cosmetics, Ceramic Pigments and Cattle and Poultry Feeds.
They are exporting their products to Europe, Canada, Asia, South America and Australia.
Company’s association with leading organizations in India and abroad has enabled to broaden
the business, to expand the existing product range and to develop new molecules as per the
specific demands of valued customers. The Company has basic research capabilities and has
recently acquired M/S.RISHICHEM RESEARCH LTD., [W-83(C), MIDC, Badlapur] as a
wholly owned subsidiary which is expected to provide a total RandD back-up to the Company
for all its future expansion and diversification programmes.
10

11. MAJOR MILESTONES
Milestones
1983 Total installed capacity of 6 MTPA for manufacture of Molybdenum Derivatives.
1983 Mr. Pravin S. Herlekar started a proprietary concern in name of Omkar Chemicals
1986 Launch of new Selenium Derivatives.
1995 Launch of Iodine Derivatives.
2005 Incorporated Omkar Speciality Chemicals Private Limited which took over entire
business of Omkar Chemicals, a proprietary concern of Mr Pravin Herlekar. The
installed capacity after takeover stood at 318 MT.
2005 Launch of organic intermediaries.
2009 Commenced commercial production started at Unit no. – II, with an installed
capacity of 375 MTPA.
2009 Increased the total installed capacity upto 750 MTPA.
2010 Converted into a Public Limited Company.
2010 Set up Unit no. III of the Company .
2010 Rishichem Research Limited became a wholly owned subsidiary. The Company is
engaged in manufacturing and RandD of speciality chemicals and pharma
intermediaries.
2011 Set up a Technology Centre for developing innovative processes and CRAMS
activities.
2011 Company got listed with Bombay Stock Exchange Limited (BSE) and National
Stock Exchange of India Limited (NSE).
2011 A successful Initial Public Offer whereby Company raised Rs. 7938 Lakhs.
2011 Got FDA approval for manufacturing Selenium Sulphide U.S.P. in Unit no. – III.
2011 Received ISO-9001-2008 certification for our Unit no. - II in respect of quality
11

12. management systems.
2012 OSCL gets Star Export House status from Ministry of Commerce and Industry
OUR STRENGTH
We are dedicated to achieving excellence in our work. Omkar Speciality Chemicals Limited
maintains the highest ethical and professional standards and strives to stay on the leading edge in
technology, in an ever-changing environment.
While our greatest strength is the ability to understand the client goals, our success is very much
attributed to strong teamwork, continuous R&D and the dedication and commitment of each and
every member of the OSCL family to deliver unsurpassed quality and reliable products &
services to the total satisfaction of all our customers.
We believe that our historical success and future prospects are directly related to a combination
of strengths, including the following
Multi product capability :- Our Company has a diverse product range comprising a mix of
organic, inorganic and organo inorganic intermediates Our Company’s product portfolio
comprises of more than 90 products in these segments. The products include inorganic
intermediates like derivatives of Molybdenum, Selenium, Iodine, Cobalt, and Bismuth ; organic
intermediates like Tartaric acid derivatives and various other organo inorganic intermediates like
Iodobenzene Diacetate, Dess Martin Periodinane, Vanadyl Sulphate etc.
Customer base:- We have a diverse customer base from different industry segments like
pharmaceutical, chemical, glass, cosmetics, ceramic pigments, etc. Further, we export our
products to various countries in Europe, Asia, North America, South America and Australia. We
focus on expanding our customer base by catering to the requirements of customers from various
industry segments.
Cost advantage: - We believe that we have developed processes for manufacture of pro ducts in
a cost effective manner. Our R&D team is continuously working on the processes for our
existing products in order to improve the production with optimum utilization of resources and
12

13. cost saving. This provides us a competitive edge over others and helps us to widen our customer
base.
Our quality control:- We have quality control departments at our Unit 1 and Unit 2 each, the
activities of which comprise of collection and preparation of samples, testing of raw materials
and other process inputs inspection, testing and quality certification of finished products,
preparation of technical information sheet and issue of certificate of analysis. Our quality control
laboratory is equipped with various equipments such as High Performance Liquid
Chromatographs (HPLC), Gas Chromatographs (GCs), vacuum dryer, sonicator, Atomic
Absorption Spectroscopy (AAS), spectrophotometer, etc. Our Unit 2 has been granted ISO
9001:2008 for its quality management systems.
VISION
 To create total satisfaction among our valuable customers by way of providing desired
quality & quantity at most competitive prices & with timely deliveries
 To become a prominent player in innovative technologies for a wide cross-section of
product segments
 To continue achieving a YoY growth rate of 40% or more for next five years.
OMKAR SPECIALITY CHEMICALS LTD CUSTOMER’S
Divi's Laboratories Ltd
Wockhardt Ltd
Dr.Reddy's Laboratories Ltd
Glenmark Generics Ltd
Mylan Laboratories Ltd
Sandoz Pvt. Ltd
Cipla Ltd
Jubilant Life Sciences Ltd
Hetero Labs Ltd.
MSN Laboratories Ltd
13

14. PLANT & CAPACITY
In June 2005, the company took over the over the business of Omkar Chemicals, a proprietary
concern with an installed capacity of 318 MT, which was engaged in the manufacture of cobalt,
selenium and iodine derivatives in addition to molybdenum derivatives. During the year 200607 Pursuant to a Share Purchase Agreement dated May 14, 2010 between our Company and the
shareholders of Rishichem Research Limited, we have purchased 1078 Equity Shares of
Rishichem Research Limited thereby holding 99.82% and making it our wholly owned
Subsidiary. In January 2006, the company expanded the total installed capacity from 318 MT
to 325 MT. In March 2007, they further increased the installed capacity from 325 MT to 375
MT. In March 2009, the company set up a new manufacturing facility, namely Unit 2 at MIDC,
Badlapur (E) in Maharashtra with an installed capacity of 375 MT. With this, the total installed
capacity increased to 750 MT. In March 18, 2010, the company was converted into public
limited company and the name was changed to Omkar Speciality Chemicals Ltd. In May 2010,
as per the share purchase agreement, the company purchased 1078 equity shares of Rishichem
Research Ltd, and thus Rishichem Research Ltd became a wholly owned subsidiary company.
The company set up a new manufacturing facility, namely Unit 3 through their internal
accruals, at MIDC, Badlapur in Maharashtra with an installed capacity of 200 MT. The
commercial production at Unit 3 is likely to start in the month of March 2011. The company
proposes to expand their existing manufacturing facilities at Unit 1, Unit 2 and Unit 3 located at
MIDC, Badlapur in Maharashtra. This will enable them to increase the capacity of their
existing operations and further expand their product range. With this proposed expansion, the
company intends to expand their existing product lines in Selenium, Molybdenum, Cobalt,
Bismuth, etc. Further, they intend to create a facility for new products in the field of metal
oxides such as Cobalt Oxide, Molybdenum Trioxide, Molybdenum Disulfide, etc. The
company proposes to set up a new manufacturing facility, namely Unit 4 at MIDC, Badlapur in
Maharashtra with an installed capacity of 1250 MT per annum. They propose to manufacture
new molecules in Iodine derivatives and pharma intermediates with new technologies
comprising of catalytic high pressure reactions. In view of the above proposed expansion, the
total installed capacity of the company would aggregate to 3650 MT per annum from the
existing installed capacity of 950 MT per annum.
14

15. Manufacturing
Capacity(June2012) Utilization
Unit
Products
manufactured
Unit 1, Badlapur, ~600 mtpa
~67.6% in
Iodine,
selenium,
Thane
Q1FY13
molybdenum
compounds and
other derivatives
Unit 2, Badlapur, ~1025 mtpa
Organic synthesis
Thane
Unit 3, Badlapur, ~75 mtpa
Selenium sulphide
Thane
Unit 4, Badlapur, -
Proposed for new
Thane
facility of organic
chemicals.
Presently used as
warehouse.
15

16. Function of Human Resource
1.) Job analysis and Job description
HR Department is also involved in designing the Job analysis and Job description
for the prospective vacancies.
A job analysis is the process used to collect information about the duties,
responsibilities, necessary skills, outcomes, and work environment of a particular
job.
Job descriptions are written statements that describe the:
duties,
responsibilities,
most important contributions and outcomes needed from a position,
required qualifications of candidates, and
reporting relationship and co-workers of a particular job.
2.) Determining wages and salaries
HR Department is also involved in conducting market surveys and determining the
wages and salaries for different position in an organization. These decision may be
taken in consultation with top management and the Finance department.
3.) Recruitment and Selection
One of the most important jobs HR department is to recruit the best people for the
organization. This is of crucial importance as the success of any organization
depend on the quality of its workforce. Details regarding the recruitment and
selection procedure can be found here.
16

17. 4.) Performance Apprasial
Once the employees are recruited , the HR Department has to review their
performance on a regular basis through proper performance appraisals.
Performance appraisal is the process of obtaining, analyzing and recording
information about the relative worth of an employee. The focus of the performance
appraisal is measuring andimproving the actual performance of the employee and
also the future potential of the employee. Its aim is to measure what an employee
does.
On the basis of performance appraisal the HR Department will set up an action
plan for each employee. If the employees needs any training then he provided that.
5.) Employee welfare and motivation
Happy employees mean a healthy organization. HR Department conducts various
employee welfare activities which might include employees get together, annual
staff parties etc. HR department also reviews organizational policies and its
impact on the motivation of the employees.
6.) Addressing employees grievances
HR department is the link between the workers and the management. Employees
grievances related work environment are usually entertained and resolved by the
HR Department.
17

18. Finance Department
Book keeping procedures
Keeping records of the purchases and sales made by a business as well as capital
spending.
Preparing Final Accounts
Profit and loss account and Balance Sheets
Providing management information
Managers require ongoing financial information to enable them to make better decisions.
Management of wages
The wages section of the finance department will be responsible for calculating the
wages and salaries of employees and organising the collection of income tax and
national insurance for the Inland Revenue.
Raising Finance
The finance department will also be responsible for the technical details of how a
business raises finance e.g. through loans, and the repayment of interest on that finance.
In addition it will supervise the payment of dividends to shareholders.
18

19. Marketing department
These are the main section of the market departments:
Sales department is responsible for the sales and distribution of the products to the different
regions.
Research & Department is responsible for market research and testing new products to make
sure that they are suitable to be sold.
Promotion department decides on the type of promotion method for the products, arranges
advertisements and the advertising media used.
Distribution department transports the products to the market.
19

20. OMKAR SPECIALITY CHEMICALS LTD PRODUCTS
Products
Cas No
Iodine Derivatives:Methyl Iodide
74-88-4
Ethyl Iodide
75-03-6
n-Butyl Iodide
542-69-8
N-propyl Iodide
107-08-4
2-Ethylhexyl Iodide
1653-16-3
Diiodomethane
75-11-6
Chloroiodomethane
593-71-5
5-Iodo-2-methylbenzoic Acid
54811-38-0
2-chloro-5-iodobenzoic acid
19094-56-5
Methyl-2-Iodobenzoate
610-97-9
2-Iodobenzoic Acid
88-67-5
3,5-Diiodosalicylic Acid
133-91-5
N -Iodosuccinimide
516-12-1
Trimethylsulfoxonium Iodide
1774-47-6
Iodine Monochloride
7790-99-0
5-Iodoanthranilic acid
5326-47-6
Iodoform
75-47-8
Potassium iodide
7681-11-0
Sodium Iodide
7681-82-5
Ammonium Iodide
12027-06-4
Cuprous Iodide
7681-65-4
Zinc Iodide
10139-47-6
Sodium Metaperiodate
7790-28-5
Potassium Iodate
7758-05-6
Calcium Iodate
40563-56-2
Iodic acid
7782-68-5
20

21. Periodic acid
10450-60-9
Hydriodic Acid
10034-85-2
Iodobenzene Diacetate
3240-34-4
Dess Martin Periodinane
87413-09-0
1,4-Diiodobenzene
624-38-4
4-Bromoiodobenzene
589-87-7
4-Chloroiodobenzene
637-87-6
Iodobenzene
591-50-4
4-Iodoaniline
540-37-4
4-Iodotoluene
624-31-7
4-Iodoanisole
696-62-8
4-Iodophenol
540-38-5
4,4'-Diiodobiphenyl
3001-15-8
Tetrabutylammonium Iodide
311-28-4
Intermediaries:1,3-Acetonedicarboxylic Acid
542-05-2
2,4-thiazolidinedione
2295-31-0
Benzeneseleninic Anhydride
17697-12-0
Bromoform
75-25-2
Pyridinium-P-Toluenesulfonate
24057-28-1
Pyridinium Chlorochromate
26299-14-9
Pyridinium Dichromate
20039-37-6
Vanadyl Acetylacetonate
3153-26-2
Vanadyl Sulphate
27774-13-6
Methyl Isobutyryl Acetate
42558-54-3
3' Chloropropiophenone
34841-35-5
Lasamide
2736-23-4
1,4-dioxane
123-91-1
potassium phthalimide
1074-82-4
4-Methylcyclohexanone
589-92-4
21

22. Cadmium Sulfide
1306-23-6
Indole-3-acetic acid
87-51-4
2-Bromopyridine
109-04-6
Triflic Anhydride
358-23-6
Cerium(III) Chloride
7790-86-5
Selenium Derivatives:Selenium Dioxide
7446-08-4
Selenium Sulfide (USP)
7488-56-4
Selenous Acid
7783-00-8
Sodium Selenate
13410-01-0
Sodium Selenite
10102-18-8
Zinc Selenite
13597-46-1
Diphenyl Diselenide
1666-13-3
Sodium Selenite Pentahydrate
26970-82-1
Cadmium Selenide
1306-24-7
Molybdenum Derivatives:Ammonium Molybdate
12054-85-2
Molybdenum Disulfide
1317-33-5
Molybdenum Trioxide
1313-27-5
Molybdic Acid
7782-91-4
Phosphomolybdic Acid
12026-57-2
Sodium Molybdate
7790 - 28 – 5
Resolving Agent:Dibenzoyl-D-Tartaric Acid
80822-15-7
Dibenzoyl-L-Tartaric Acid
62708-56-9
Di-p-Anisoyl-D-Tartaric Acid
191605-10-4
Di-p-Anisoyl-L-Tartaric Acid
50583-51-2
Di-p-Toluoyl-D-Tartaric Acid
32634 – 68-7 / 71607-32-4
Di-p-Toluoyl-L-Tartaric Acid
32634-66-5 / 71607-31-3
Cobalt Derivatives:-
22

23. Cobalt Acetate
6147-53-1
Cobalt Carbonate
513-79-1
Cobalt Chloride
7791-13-1
Cobalt Nitrate
10026-22-9
Cobalt Oxide
1308-06-1
Cobalt Sulphate
10026-24-1
Bismuth Derivatives :Bismuth Ammonium Citrate
31886-41-6
Bismuth Citrate
813-93-4
Bismuth Hydroxide
10361-43-0
Bismuth Nitrate
10035-06-0
Bismuth Oxide
1304-76-3
Bismuth Oxychloride
7787-59-9
Bismuth Subcarbonate
892-10-4
Bismuth Subsalicylate
14882-18-9
Bismuth Subnitrate
1304-85-4
23

24. SWOT ANALYSIS
Strength:
Company having young management team which consists very talented
and knowledge professionals from different fields.
Omkar chemicals is a well capitalized group with net worth of above 800 cr.
Company’s research team provides tremendous research calls to their clients with
high success record and generate level of satisfaction to clients
Weakness:
Investors are not completely aware ofomkar chemicals , so that the brand
value of company not yet created.
The market share of the company in commodities & equity market in terms
of turnover is not significant.
Opportunity:
The growth of capital market is very high .investors are now ready to invest
their money in this market because the return is much higher compare to
other place of investment.
As omkar chemicals having its presence in 5 locations of the state ,so
company has good opportunities to extend its branches all over the
country.
24

25. Threats:
Company has to face the tough competition from major market leaders, so
it will be a difficult task for Nirmal bang to sustain itself in this cut throat
competition.
Recently financial market is not performing welldue to global recession and
investors have suffered a huge loss , so investors now investing their
money at much safer place instead of this market.
25

26. CONCLUSION AND SUGGESTIONS
CONCLUSION
The study on working capital management conducted in omkar speciality
chemicals ltd to analyze the financial position the company. The company
financial position is analyzed by using the tool of annual report from 2007-2008 to
2012-2013.the financial status of omkar speciality of chemicals is good . in the
last year the inventory turnover has increased this is good sign for the company .
On the whole time, the company is moving forward with excellent management
SUGGESTIONS
Working capital of the company has increasing every year profit also increasing
every year this is good sign for the company. It has to maintain it further, to run the
business long term
The current & quick ratio are almost up of the standard requirement. so the
working capital management omkar speciality chemicals ltd is satisfactory & it has
maintain it future.
26

27. BIBLIOGRAPHY
 Books:
C R Kothari- Research Methodology (New Age International Publishers)
Annual Report of Omkar Speciality Chemicals Ltd 2013
Annual Report of Omkar Speciality Chemicals Ltd 2012
OSCL magazines
 Internet:
http://www.omkarchemicals.com
www.wekipedia.com
www.google.com
27