Winter Internship Report on the basic study of Corporate Governance and Comparative Analysis Of
The Annual Reports of Vizag Steel and TATA Steel
At Vizag Steel
Submitted in partial fulfillment of the requirements by NALSAR University
Centre for Management Studies
National Academy of Legal Studies and Research
Certificate from Company
I hereby declare ...view middle of the document...
I express gratitude towards my parents for all the support and also various others who helped me through out.
Industry exposure ensured practical knowledge of the subject. With immense dedication and sincerity I have completed the analysis at Vizag Steel. This has helped me gaining practical knowledge of the subject that I wanted to take up as my Major. The analysis helped me in understanding the basics of Corporate Governance.
TABLE OF CONTENTS
SL.NO | PARTICULARS |
1. | COMPANY PROFILE |
2. | OBJECTIVES OF THE STUDY |
3. | SCOPE OF THE STUDY |
4. | INTRODUCTION OF THE TOPIC |
5. | RESEARCH METHODOLOGY |
6. | RESEARCH DESIGN |
7. | STUDY OF TOPIC |
8. | DATA ANALYSIS AND INTERPRETATION |
9. | RESULTS AND FINDINGS |
10. | CONCLUSION |
11. | LIMITATIONS OF THE STUDY |
1. Company Profile
In 1963, the then Minister of Steel and Mines announced the setting up of the 5th Integrated steel plant at Visakhapatnam in line with report of the British America Steel for India Consortium. Until 1966 there was no action to initiate the implementation of the promise. It was at this juncture that Sri Tenneti Viswanatham, a distinguished freedom fighter, led the agitation for setting up the steel plant in Visakhapatnam. ‘Visakha Ukku Andhrula Hakku’ freely translated as Vizag Steel Andhra People’s Right, was the slogan that most youth of 1966 remember fondly. The agitation gained momentum when the then Prime Minister Mrs. Indira Gandhi on 4th Nov 1967, wrote off the possibility of setting up the 5th steel plant in the country, citing non- availability of adequate resources as the reason. As the agitation turned violent, lives were lost in police firing and several sustained injuries. After a loss of 32 valuable lives and injuries to thousands, the Prime Minister made an announcement on 17th April 1970 for setting up the plant.
Eleven years after the foundation stone was laid on 20th January, 1971, the present company – Rashtriya Ispat Nigam Limited (RINL) was incorporated in February, 1982 and it was anticipated that production would begin in 1986. The Plant was finally commissioned, over 6 years later in July 1992. Commencement of production operations was delayed by over two decades and this had the an impact on the financial health of the Company. The Company had to also face the challenges posed by significant changes in the internal business environment brought about the economic policy reforms since the early 1990s, as also the volatile external environment characterized by busts and booms in steel prices. Happily for all concerned, the financial health of the Company improved from 2002 and there is no looking back.
Vision and Mission:
To be a continuously growing world class company we shall
* Harness our growth potential and sustain profitable growth
* Deliver high quality and cost...