SUMMER INTERNSHIP PROJECT REPORT

At
(Gallantt Ispat Limited)

Submitted in partial fulfillment of the requirements for the award of the Degree of Bachelor of
Commerce Honors of CHRIST (Deemed to be University)

By

Radha Agarwal
21214082

Under the Guidance of

(Dr.Yashmita Awasthi)

SCHOOL OF COMMERCE FINANCE AND ACCOUNTANCY CHRIST

(DEEMED TO BE UNIVERSITY), DELHI NCR JULY 2023
 DECLARATION

I, Radha Agarwal, do hereby declare that the Summer Internship Project has been undertaken by
me as part of my studies in the degree of Bachelor of Commerce Honors. I have completed this
study under the guidance of Dr.Yashmita Awasthi,Assistant Professor,Department of
Commerce, CHRIST (DEEMED TO BE UNIVERSITY) NCR and CA Mohit Dadhich,
General Manager of Gallantt Ispat Limited.

I also declare that this work has not been submitted for the award of any degree, diploma,
associate ship or fellowship or any other title in this University or any other University.

Radha Agarwal(21214082)

Place: Delhi NCR (Name & Signature of the Candidate)

Date:
 CERTIFICATE

This is to certify that the Summer Internship Project submitted by Radha Agarwal,21214082 is a
record of project work done by him during the Academic Year 2023-24 under my guidance and
supervision in partial fulfillment of the degree of Bachelors of Commerce Honors . This Summer
Internship Project has not been submitted for the award of any degree, diploma, associate ship or
fellowship or any other title in this University or any other University.

(Dr.Yashmita Awasthi)
Place: Delhi NCR (Name & Signature of the Guide)
Date:
CERTIFICATE FROM THE ORGANIZATION
 ACKNOWLEDGEMENT

I am indebted to many people who helped me accomplish this internship successfully.

First, I thank the Dean & Director Dr Fr Jossy P George, CHRIST (Deemed to be University),
Delhi NCR for giving me the opportunity to do my summer internship project.

I thank Fr Sunny Joseph, Campus Administrator, Dr. Sanjay Rastogi, Head of the School and
Prof. Jerush John Joseph, SIP Coordinator for their kind support.

I wish to take this opportunity to express my deep sense of gratitude to thank CA Mohit
Dadhich, General Manager of Gallantt Ispat Limited for his invaluable guidance throughout
my project. I sincerely thank Gallantt Ispat Limited for providing me with an opportunity to be
a part of it.

I thank Dr.Yashmita Awasthi, for her support and guidance during the course of my summer
internship. I remember her with much gratitude for her patience and motivation, but for which I
could not have submitted this work.

I thank my parents for their blessings and constant support, without which this internship would
not have seen the light of day.

Radha Agarwal

Register No:21214082
 TABLE OF CONTENTS

Page No.
Sl Particulars
No (from and to)

1 INTRODUCTION
(Profile of the organization, Vision, Mission, Goals &
8-13
strategies of the organization, Products and Services,
competitors)

2 ORGANIZATIONAL STRUCTURE
14-15
(Organization design & structure)

3 FUNCTIONAL AREAS OF THE

ORGANIZATION
15
(Departments/Division/ Areas of the organization\Policies
& procedures followed)

4 SWOT ANALYSIS & KEY RESULT AREAS OF THE

ORGANIZATION
15-18
(SWOC analysis of the organization, Key result areas of the
process/department /team and employee)

5 ORGANIZATIONAL PERFORMANCE
(System of accounting followed, Success factors and
18-21
strategies, Performance appraisal system, Financial
highlights, Future plans for growth of the organization)

6 LEARNING EXPERIENCE
(Detailed note on work done during internship that includes
roles and responsibilities, tasks allotted, processes learnt, 21-30
reporting, feedback received, appreciations received, and
learning outcomes.)

7 KEY LEARNING 31-32

8 CONCLUSION 33

9 REFERENCES 34
 PROFILE OF THE ORGANIZATION

Source-GALLANTT ISPAT LIMITED (FORMERLY GALLANTT METAL LIMITED) – Gallantt Group of Industries

Incorporated in 2005,Gallantt Ispat Limited is a leading Iron and Steel manufacturing Company
located in Eastern Uttar Pradesh. The Co is engaged in the business of Iron & Steel, Agro, Power
and Real Estate. The plant is situated in the Purvanchal Region of Uttar Pradesh, which is
industrially backward. It is spread over 112 acres of land allotted by Gorakhpur Industrial
Development Authority situated at Sector 23, GIDA, Sahjanwa, Gorakhpur.Presently the company
is running an integrated steel plant at GIDA Industrial Area, Gorakhpur, Uttar Pradesh to
manufacture Sponge Iron, Mild Steel Billets, Re-Rolled products (TMT bars) and a Modern Roller
Flour Mill unit.Considering the power requirements of our manufacturing facilities, the Company
has also set up a Power plant to meet its requirement of power.The Company has its own private
railway siding, under the code MGIS allotted by Indian Railway, at Industrial complex in
Gorakhpur for efficient procurement of major raw material viz. Iron Ore and Coal in large bulk.

GALLANTT group has come a long way since 1984, when it made a simple and humble
beginning by setting up a small industrial venture, to presently running two primary steel Plants
with Captive Power Plant in the state of Uttar Pradesh and Gujarat beside various flourmill units
and real estate ventures. This growth has been achieved by a maintained strategy of continual
investment in our manufacturing facilities and technology. Installation of private railway siding at
GIL for easy movement of raw material and finished goods has incurred lower logistic costs and
proved enormous advantages to the unit.

Gallantt Group consists of Gallantt Ispat Limited, Gallantt Udyog Private Limited, Gallantt
Industry Private Limited and Gallantt Life Space Developers Pvt Ltd. Gallantt Ispat Limited is a
well established public limited company, having its steel manufacturing units in the state of Uttar
Pradesh and Gujarat and is listed on both the premier stock exchanges of India viz, Bombay Stock
Exchange Limited and National Stock Exchange of India Limited. With the dedicated team of
professionals and other human forces, both the units are reporting enviably appreciating
performance both in terms of turnover and profitability. Being a well compliant Company, both
units are aggressively working towards adopting principles of best Corporate Governance besides,
bearing the objective of leverage, the best of talent and best of technologies to deliver superior
products to the public at large.

The operations are backed by its 100% captive power generation (129MW). GIL is promoted by
Chandra Prakash Agrawal and is listed on the BSE Limited and the National Stock Exchange of
India Limited.Gallantt has become a leading market brand name in the state of Uttar Pradesh &
Gujarat within a short span of time and is a branded ISO 9001:2008 & ISI certified.Gallantt Group
is actively involved in the process of nation building along with all well-meaning entrepreneurs
striving to make a self-sufficient India, a call made by the top ruling echelons.

INDUSTRIAL JOURNEY -
● 1984- Installation of a Mini Oil Mill in Gorakhpur
● 1988- Installation of Modern Roller Flour Mill in Gorakhpur
● 1994- Installation of mini Steel Plant with Induction Furnaces in Gorakhpur
● 1996 -Installation of Rolling Mill in Gorakhpur
● 2000- Acquisition of a Modern Roller Flour Mill in Maharajganj in Uttar Pradesh
● 2002- Installation of Modern Roller Flour Mill at Basti in Uttar Pradesh
● 2005- An Integrated Steel Plant was installed at Gandhidham Gujrat spread over in 125
acre of land.
● 2009- An Integrated Steel Plant was installed in Gorakhpur, Uttar Pradesh spread over 113
acres of land.
● 2013- Installation of Modern Roller Flour Mill in Bhabua, Bihar.
● 2017- Doubled the Capacity of Integrated Steel Plant at Gorakhpur. Sponge Iron from
2,97,000 to 5,94,000 MTPA, MS Billets from 3,30,000 TPA to 6,53,400 MTPA; Captive
Power from 53 MW to 80.5 MW & installed a Pellet plant of 7,92,000 MTPA.
● 2022 -Expansion in capacity of Integrated steel plant in Gorakhpur to increase the steel
making capacity to 5.28 lac MTper Annum, captive power plant to 78 MW and a
backward integration by installation of Pelletisation plant of capacity of 8 lac MT per
Annum. The same is under commercial operation since April, 2022 Installation of a Cement
Plant in Gorakhpur in the name and style of Gallantt Industry Private Limited. The same is
in commercial operation from September, 2022.Proposes to construct a Five Star Hotel with
Multiplex, Shopping Mall and exclusive housing (The Promenade) at Ramgarh Tal area of
 Gorakhpur, with an investment of Rs. 500 Crore. ‘The Promenade’ is an ambitious 13 lac
Sq Ft mixed use project, being developed by The Gallantt group along with AD Estate
Developers. It is proposed to construct a Five Star Hotel with Multiplex, Shopping Mall and
exclusive housing in Gorakhnath Area, Gorakhpur, with an investment of Rs. 300 Crore is
under consideration. 2022 Gallantt Lifespace Developers Pvt Ltd is engaged in reinventing
the real estate value chain by unique conceptualization, design and development of
premium quality villas, flats with state-of- the- art amenities and plots of land in
collaboration with Shalimar Grand. This is being spread across a whopping 150 acres of
land, in Lucknow.

VISION AND MISSION

Vision-
● Creating an indelible imprint for ourselves in the primary Steel business.
● Ensuring the best quality in the industry at the minimum affordable cost.
● Ensuring the sense of achievement, success and self-
● fulfillment for all connected with the Gallantt Group.
● Value creation for our share owners and value generation for our Nation.

Mission-
● Focus to Foster Personal growth in accordance with
● Group’s vision
● Resource Optimization and Productivity improvement.
● Focus on Quality, Trust and Leadership.
● Sustainable development for society at large and our all
● stakeholders.

Values-
The Gallantt Group has sailed through the toughest phase in the industry for the last three decades.
Undoubtedly, the last seven years of industry has been challenging. We are committed to better
management, improvement, innovation and cost saving techniques which are regarded as the
SPICE commitment towards our Business, Environment and Share owners all of which position is
above all other competitors.
The SPICE formula

● Service: Our primary objective is to serve the nation by contributing to the

infrastructural growth.
● Productivity & Professionalism: We primarily focus on constant improvement of
productivity. Our technicians constantly upgrade the evolving technology to ensure
improvement in productivity in a cost-efficient way. We have bifurcated
decision-making structures and decentralized the power to encourage
professionalism. Our constant efforts have reaped benefits and key management
personnel and employees have been working in a congenial atmosphere for
improving the operation effectiveness.
● Innovation: Process of innovation to ensure the best technological update for the
best products has helped us to reduce cost and focus on better quality products.
● Communication: Communication systems are of primary importance. We have
evolved an environment where internal matters relating to business and processes are
communicated to the lowest hierarchy with ease. Our firm belief is when all
individuals align their aspirations with our vision, success is re-engineered. The only
way to channelize the vision is through strengthening communication systems.
● Engineering an Eco-Friendly Environment: We are firmly committed to fostering
a cleaner environment as we believe in sustainable development.

POLICY AND PROCEDURE

Gallantt Ispat Limited is committed to conducting its business in accordance with applicable laws,
rules and regulations and the highest standards of business ethics and ethical conduct. This Code of
Conduct (“Code”) reflects the business practice and principles of behavior that support this
commitment. The Board of Directors (“the Board”) is responsible for setting the standards of
conduct contained in the Code and for updating these standards as appropriate to reflect legal and
regulatory developments. The Code is intended to provide guidance and help in recognizing and
dealing with ethical issues and to help foster a culture of honesty and accountability.

CODE OF CONDUCT

The Company has adopted a Code of Conduct for members of the Board (incorporating duties of
Independent Directors) and the Senior Management. The Code aims at ensuring consistent
standards of conduct and ethical business practices across the Company. The Company has
received confirmations from all concerned regarding their adherence to the said Code.

Pursuant to Regulation 17(5) of the Securities & Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, Mr. C. P. Agrawal, Chairman & Managing Director
confirmed compliance with the Code by all members of the Board and the Senior Management.
SOME OF THE POLICIES ARE
(i)Represent the interests of the shareholders of the Company;
(ii)Exhibit high standards of integrity, commitment and independence of thought and judgment;
(iii)Dedicate adequate time, energy and attention to ensure the diligent performance of his/her
duties including make all reasonable efforts to attend Board or committee meetings; and
(iv)Comply with every provision of this Code.
(v)We maintain a Transparent policy for all our customers.
(vi)We deal fairly with the Company’s customers, suppliers, competitors, officers and employees.

PRODUCT AND SERVICES

SPONGE IRON
Sponge Iron is obtained by direct reduction (elimination of oxygen) of iron ore without melting it
in a blast furnace. Sponge iron is an intermediate iron product used as a substitute for steel scrap
while producing steel through the electric induction furnace route. The entire production of
Sponge Iron is consumed in-house for manufacturing MS Billets.
MS BILLETS
Billet, being a semi-finished product, is used as feed-stock for rolling mills where long products
like wire rods, bars and rods for structural works are produced. Steel Billet is also used extensively
in forge shops and machine shops for production of engineering goods and also as feed-stock for
seamless tubes.
TMT BARS
Re-rolled products (TMT Bars) are manufactured using M.S. Billets as the main feed stock.
Gallantt strictly maintains not only its quality conforming to Indian standards such as ISI, ISO
9001-2000 but also to international standards such as H & K, Germany to name a few. This helps
the company to market its products overseas as well.
WHEAT PRODUCTS
The current product portfolio for the food grain business includes wheat flour products like Atta,
Maida, Suji and Bran. Our products under the brand name “Gallantt” are sold in the states of Uttar
Pradesh, Bihar, West Bengal, Assam, Madhya Pradesh, Andhra Pradesh and Karnataka covering
almost the entire nation.
SHALIMAR GALLANTT
We have forayed into the field of Real Estate with our flagship project, Shalimar Gallantt,
Mahanagar, Lucknow. The high-end group housing project is strategically located in the heart of
Lucknow. It is being developed as a joint venture with one of the most reputed developers in
Lucknow, The Shalimar Group.

COMPETITORS
The company faces tough competition with the other existing steel manufacturing companies
which includes JSW steels,Tata steels,hindalco,jindal steels,NMDC steels,Godawari power,Usha
martin,Jai corp and many more.Gallantt has become a leading market brand name in the state of
Uttar Pradesh & Gujarat within a short span of time and is a branded ISO 9001:2008 & ISI
certified.The company is able to survive in the market because of its outstanding performance,the
company is ranked in the top 34 out of 153 steel manufacturing companies.The companies always
look for opportunities as well as keep an eye to grab first mover advantage over its competitors.The
company is surviving because of its dedicated employees,supporting staff and true and fair
transparency of the company.The growth has been achieved by a maintained strategy of continual
investment in their manufacturing facilities and technology. Installation of private railway siding at
GIL for easy movement of raw material and finished goods has incurred lower logistic costs and
proved to be very advantageous leaving other competitors in the region far behind and out of
competition.
 ORGANIZATIONAL DESIGN AND STRUCTURE

Source:Authors compilation

Board of directors-
The Company’s Board has an optimum combination of Executive and Non-Executive Directors
including a Woman Director. The Board is responsible for the management of the affairs of the
Company. The Board composition is in conformity with the requirements set forth by Regulation
17 (1) of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations,2015, (‘the Listing Regulations’)
and the Companies Act, 2013 (“the Act”).
The composition of the Board are-
• Executive Directors – 3
• Non-Executive Director-1
• Non Executive Independent Directors – 4
The various Departments of the company include
Technical department
Sponge Iron
Power plant
Furnace
Rolling Mill
Pellet plant

Commercial Department
Human Resource
Administrative
Purchase
Sales
Marketing
Accounts and Finance
Raw Material Procurement
Legal
Security
Corporate Affairs

SWOT ANALYSIS

Strength
● Strong annual EPS growth
● Company with low debt
● Book value share improving for last 2 years
● Growth in net profit with increasing profit margin(QoQ)
● Company able to generate net cash-improving net cash flow for the last 2 years.
● Company with Zero promoter pledge.

Weakness
● Companies with growing cost YoY for long term projects.
● Declining in quarterly net profit with falling profit margin (YoY).
● Declining operating profit margin and net profit(YoY).

Opportunities
● Negative to positive growth in sales and profit with strong price momentum.
● Companies' fixed asset is higher than their market cap.-1544.6% returns for nifty 500 over
16.8 years.
● Volume shockers
● High momentum scores(technical scores greater than 50)-319.5% for nifty 500 over 1.2
years.
● RSI indicating price strength
Threat
● Managing logistics requirements is arduous, challenging
● and costly.
● Physical transportation of raw materials for steel-making to the steel mills or physical
transportation of finished steel to demand centers, transportation of bulk materials are
always arduous.

KEY RESULT AREA

Key Result Areas of the HR department
● Recruitment/ Selection
● Workforce Planning
● Diversity Management
● Performance Management
● Reward Management
● Workplace Management
● Industrial Relations
● Safety And Health Workplace
● Building Capabilities And Organizational Learning

Key Result Areas of Production Department

● Product creation
● Delivery control
● Use of resources
● Maintenance in advance
● Stock control
● Wastage reduction

Key Result Areas of Sales Department

● Customer care
● Lead generation
● Account management
● New Business Acquisition
● Sales forecasting
 ● Interpersonal skills

KRA of Finance Department

● Cost control
● Credit Control
● Security
● Financial analysis
● Costing
● Budgeting

KRA of Manufacture Department

● Stock control
● Maintenance
● Labor relations
● Quality control
● Record keeping
●
KRA of Marketing
● Advertising
● Promotional strategy
● Pricing
● Market research
● Media Relations

KRA of Human Resource Department

● Staffing
● Employee development
● Employee relations
● Career development
● Policy development

KRA of General Manager or Senior Officers

● Productivity
 ● Internal operations
● Regulatory compliance
● Organizational structure
● Organizational vision and mission
● Business development

KRA of Administrative Executives

● Correspondence
● Filing
● Record management
● Internal customer relations
● Administrative support

SYSTEM OF ACCOUNTING FOLLOWED

As mandated by the Ministry of Corporate Affairs, IND AS is applicable to the Company from the
Financial Year commencing from April 01, 2017. The estimates and judgments relating to the
Financial Statements are made on a prudent basis, so as to reflect in a true and fair manner.
Financial Statement has been prepared as per applicable Ind-AS.Pursuant to Section 129(3) of the
Companies Act, 2013, the Consolidated Financial Statements of the Company prepared in
accordance with the Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies
(Accounts) Rules, 2014 and Indian Accounting Standard 110 on Consolidated Financial
Statements.

SIGNIFICANT FACTORS AND STRATEGIES

The core strategy is based on consolidation and sustainable growth. The investment strategy of the
company aims at becoming a low cost producer in all its business and in upgrading technology to
meet stringent product quality requirements. Quality is the mantra of the organization. Ever since
its inception it has been in the forefront of providing quality products and services to its customers
with equal emphasis on environmental pollution control and energy conservation. It maintains a
commendable grade of quality in all levels of its operation and high level of its productivity by
adaptation of state of art technology. The customer centric manufacturing and satisfaction are the
main forte of the quality management satisfaction. The company interacts with its customers to
continuously assess their needs and expectations and ensure total customer satisfaction by
maintaining consistent quality of its products and services with the involvement of its employees.
The company promotes transparency and openness in its relationship with its employees and the
community and treats them in a fair and respectful manner.

In a business the company realizations are controlled largely by the market cycles (for steel
industry), they believe that much of the growth is actually derived from their ability to generate
surpluses from within.Over the last few years, the Company strengthened this inward-outward
focus through a more visible manifestation of that one corporate strength that they deeply pride
upon: our culture of passion and planning. At Gallantt Ispat, they brought an unusual passion to
their workplace every single day. They continued to believe that this is the only insurance in a
sector where realizations are largely beyond our control and the only realities that they can truly
control is our enriched multi product domain in which one product acts as an intermediary for the
other thereby generating multi sources of revenue; robust product quality and operating efficiency.
There is a good reason why passion and planning has a critical role to play in the Company. They
are a multi-decade enterprise, with focus on producing –Sponge Iron, MS Billets and TMT Bars.
Through a set of dedicated customer base and repeat orders backed by meticulous planning they
were able to achieve growth and create a holistic shareholders value.

PERFORMANCE APPRAISAL SYSTEM

Each employee is evaluated on predefined parameters such as punctuality, job knowledge,
communication skill and attitude. Each parameter has definite weightage on which the particular
employee is evaluated individually and department wise.At the end, whole data is compiled for
final evaluation by the management and accordingly the appraisal is done in which elevation is
designation as well as monetary increase in emoluments are done. And concerned employees are
communicated through the means of appraisal letter which is duly signed by the Head of HRD.

GIL aggressively works towards adopting principles of the best Corporate Governance besides
bearing the objective of leverage, the best of talent and technologies to deliver superior products to
the public at large.Companies commitment towards producing the best quality steel is well
reflected in the fact that they obtained certifications from various recognized organizations such as
Bureau of Indian Standard (ISI), ISO 9001-2000, and H & K (Germany) to name a few. Gallantt
Group has been setting new standards of excellence by way of manufacturing quality products.
Gallantt has evolved an agile business model, which can respond to the rapidly evolving market
realities with speed and has helped them consistently to achieve volume guidance over the years.
During the past few years, despite sluggish demand, their model of marketing achieved higher sales
targets and profitability.
Company strong determination to grow and maintain high quality standards has led them to win
many awards and accolades. They strive and stand committed to maintain this respectable position
by catering to the requirements of their customers in the best possible way leaving no room for
complaints.Work works wonders. Gallantt believes in the process of evolving and diversifying as it
is the only way to forge ahead with their plans of expansion. Keeping this in view, they forayed
into the field of Real Estate with their flagship project, Shalimar Gallantt, Mahanagar, Lucknow.
The same is being developed as a joint venture with one of the reputed developers in Lucknow, The
Shalimar Group.

FINANCIAL HIGHLIGHTS
The company generates financial capital in the form of surplus arising from current business
operations as well as through financing activities, which include restructuring of debts aligned with
market conditions and other re-investments for future growth opportunities and rewarding
shareholders with a long-term vision.The net sales was at Rs 1006.24 crore in December 2022 up
from 121.07% from Rs.455.17 crore in December 2021.
Quarterly net profit at Rs.20.91 crore in December 2022 down 4.64% from Rs 21.93 crore in
December 2021.EBITDA stands at Rs.86.22 crore in December 2022 up 143.77% from Rs.35.37
crore in December 2021.Gallantt Ispat EPS has decreased to Rs.0.87 in December 2022 from
Rs.2.70 in December 2021.Gallantt Ispat shares closed at 64.80 on february 13,2023(NSE) and has
given -4.57% returns over the last 6 months and -2.63% over the last 12 months.
Total Revenue Annual Cr growth is stable compared to historical averages.Annual Revenue
Gallantt Ispat Ltd. Mar-2023 Annual Revenue is Rs 4,060 Cr which is growth of 32.2% YoY.
Net Profit Annual Cr growth is lower than historical averages.Annual Net Profit Gallantt Ispat Ltd.
Mar-2023 Annual Net Profit is Rs 141 Cr which is growth of -19.9% YoY.

Source-Gallantt Ispat Annual Report - Annual Financial Report of Gallantt Ispat for the Financial 2022 by Moneycontrol.com
 FUTURE PLANS
The company aims to be one of the top five iron & steel manufacturers in India in the near
future and all our investments and strategies are aimed towards achieving this transition.The
capital expenditures we have made over the last a few years mean that we are more agile
and stable. These investments, coupled with process improvements, also mean we are well
prepared to handle more volume and are well positioned to cater to the growing
demands.The company aims to make their presence felt on the infrastructural map of India.

● Expansion in capacity of Integrated Steel Plant in Gorakhpur to increase the steel

making capacity to 5.28 lac MT per Annum and installation of new Cement
manufacturing Plant to produce 3,96,000 MT per annum.
● Increase the power production of captive power plants to 78 MW.
● A backward integration by installation of Pelletisation plant with a capacity of 8 lac
MT per Annum.
● Construction of a Star Hotel with Multiplex, Shopping Mall and exclusive housing
complex near the historical Gorakhnath Temple, Gorakhpur, with an investment of
Rs.200 Cr.

At Gallantt Ispat, the outperformance is derived from the strategic focus to be a low cost
iron & steel products manufacturer with a growing systemic integration on new
technologies and processes. In a bid to extend our value chain, they intend to explore new
opportunities and establish their status as a multi-product Company. In line with these
statements of intent, they expect to possess one of the highest finished steel production
capacities in India.They believe that all these efforts will not only enhance their profits but
will also enrich their organizational value.
 WORKED DONE DURING INTERNSHIP
Week 1
During the first week,I was briefed about the company,its products and services offering and
functioning by my mentor CA Mohit Dadhich.For the preparation of financial statements,I was
assigned the task to scrutinize the trial balance and to arrange the ledger and preparation of rough
financial statements.Learned and prepared directors report and made arrangement of notice and
schedules related to balance sheet,profit and loss,cash flow statement and other regulatory
framework.
Week 2
In the second week,I was introduced with the concept of BRSR Report.I was assigned the task of
collecting and preparing a rough draft of the report.I collected the required data from various
departments which includes HR,finance,purchase,and marketing department.After collection of
data I prepared the rough draft of the report.Then,I was assigned with the responsibility of
preparing notes on financial statement for the financial year 2022-23.
Week 3
In the third week I learned about the TDS sections and Made entries through the journal voucher
(J.V) of TDS in the ERP system of the company,learned and made debit notes,Assisted in the
preparation of store audit reports and preparation of store payment. Learned how to check
marketing bills and learned about accounts payable.
Week 4
In week 4,I was assigned with the responsibility to finalize store payment.Done entries in
ERP,prepared payment advice,Checked marketing bills,updated excel sheet of marketing
bills,Checked GST of contractors,Bifurcated the different expenses(traveling,advertisement,misc
etc) of the payment made by credit cards.Done salary entries in ERP software.
Week 5
Assisted in account reconciliation and prepared a reconciliation chart in excel, checked marketing
bills,prepared the list of employees who received bonuses,did salaries entries in ERP,assisted in
preparation of full and final settlement sheet and prepared payment advice.
Week 6
Assisted in preparation of tax on salary sheet,checked marketing bills,Assisted in account
reconciliation.
 KEY LEARNINGS

● Industry Insight:This Internship offered a firsthand look into how a specific industry
operates. I Learned about the day-to-day operations, the key players, and the challenges
faced by the industry.

● Practical Application: Internship allowed me to apply the theoretical knowledge I gained in

your studies to real-world situations.I learned how to use tools, software, and techniques
relevant to my field.

● Professional Etiquette: Internships expose me to professional settings and help me develop

workplace etiquette.I learned about punctuality, communication norms, and how to interact
with colleagues and superiors.

● Teamwork and Collaboration: Working with a team during an internship taught me about
collaboration, effective communication, and how to contribute to group projects and goals.

● Time Management: Internships often involve juggling multiple tasks and deadlines.
Learning to manage my time efficiently is a crucial skill that I can carry forward in my
career.

● Problem-Solving: Real-world work situations present challenges that require creative

problem-solving. Internships helped me to develop critical thinking skills as I find solutions
to various issues.

● Networking: Building relationships with colleagues, supervisors, and other professionals in

my field will be valuable for future opportunities. Networking helps me connect with
people who might offer guidance, mentorship, or even job referrals.

● Adaptability: Internships exposed me to dynamic work environments. Adapting to new

situations, tasks, and unexpected changes is an important skill that one may cultivate.
● Feedback and Growth: Receiving constructive feedback from supervisors helps me to
understand my strengths and areas for improvement. Learning how to accept feedback
gracefully and use it to grow is essential.

● Professional Development: Internship offered opportunities for professional development,

such as workshops, training sessions, and exposure to industry events. These experiences
enhance my skill set and knowledge.

● Resume Building: A well-executed internship stands out on my resume. It demonstrates my

practical experience and my commitment to learning and contributing to a real organization.

● Understanding Company Culture: Internships provide insights into company culture,

values, and norms. Understanding these aspects is crucial when considering potential
employers in the future.

● Independence and Initiative: While interns are guided, they often have to take the initiative
to complete tasks. This helps me to develop independence and a proactive approach to my
work.

● Ethical Considerations: Real-world work situations can present ethical dilemmas. Internship
gave me the chance to navigate these situations and make decisions aligned with my
personal and professional values.

● Setting Goals: During my internship,I set goals for myself, such as mastering a certain skill,
completing a project, or making a specific number of connections. Learning how to set and
achieve these goals is important for my career growth.
 CONCLUSION
Working as an intern at Gallantt Ispat Limited,was an honor filled with
learning,challenges,pressure but at the very end growth driven.During the course of my internship,
I learned accounts payable/receivable, TDS preparation, invoice processing, and financial
reporting.The internship provided me with the platform to enhance my knowledge and lead to my
growth which includes public relation,healthy communication,teamwork and its importance and
handling work under pressure.I am glad to say that this internship has made a positive impact on
me in such a short period of time.
Initially,I was unable to keep track of the functioning and rules and regulations of the company, but
with the passage of time and with the help of employees,this issue was resolved.
I am very grateful to Gallantt Ispat Limited for providing me the opportunity,regardless of the fact
that I did not experience practical exposure. On completion of my internship, I am confident about
the basic working of the company and am eager to explore more about it in my career.
 REFERENCES
● Gallantt Ispat Ltd. Annual Results and Financial Performance as of today (trendlyne.com)
● Gallantt Ispat Profit Loss: Check Gallantt Ispat Profit & Loss Account Annual Statement
(livemint.com)
● GALLANTT ISPAT LIMITED (FORMERLY GALLANTT METAL LIMITED) – Gallantt
Group of Industries
● India Ratings and Research: Most Respected Credit Rating and Research Agency India
● Gallantt Ispat Ltd. financial results and price chart - Screener
● Gallantt Ispat Annual Report - Annual Financial Report of Gallantt Ispat for the Financial
2022 by Moneycontrol.com
● Gallantt Ispat Share Price - Gallantt Ispat Share Price Live NSE/BSE (indiatimes.com)
● https://economictimes.indiatimes.com/gallantt-ispat-ltd/yearly/companyid-15271.cms
● https://www.grammarly.com/blog/how-to-write-a-report
● Report Writing Format with Templates and Sample Report (visme.co)
● How to Write a Report (with Pictures) - wikiHow