CONTENTS

Serial Description Page

Number No.

Undertaking Form I

Self Declaration II

Certificate by Supervisors III

Copyright Transfer Certificate IV

Plagiarism Report V

Acknowledgement VI

Abstract VII

VIII -IX
Preface of the thesis
Detailed Contents

INTRODUCTION 1-15

CHAPTER I CONCEPT AND METHODOLOGY OF STUDY

1.1 Concept of ‘working capital’ 2

1.2 Why to study working capital 3

1.3 Research Design 3

1.4 Research Methodology 5

1.5 Review of the literature 6

1.6 Objectives of the study 7

1.7 Hypothesis 11

1.8 Scope and purpose of the Study 11

1.9 Selection of respondents 12

1.10 Significance of the study 14

CHAPTER II PROFILE OF THE STUDY UNITS 16-33

Growth and Development of dairy industries

in Rajasthan,

Name and developmental aspects of dairy

units,

Financial Aspects of the study units

17
2.1 Introduction

17
2.2 Introductory Part Of Dairy
17
2.3 Introduction To Indian Dairies
2.4 Growth & Development Dairy Industry 18

18
2.5 Pre Independence
19
2.6 After Independence
21
2.7 Present State Of Dairy Industry
22
2.8 Growth & Development In Rajasthan
23
2.9 Pre Independence
23
2.10 After Independence
24
2.11 RCDF Introduction
27
2.12 Profile &Growth Of Different Union
31
2.13 Summary

CHAPTER III ROLE AND STATUS OF THE COMPOSITION OF 34- 73

WORKING CAPITAL SCENARIO

SIGNIFICANCE OF WORKING CAPITAL.

COMPOSITION (STRUCTURE) OF WORKING

CAPITAL AT STUDY UNITS.

ORGANIZATION A FRAMEWORK OF WORKING

CAPITAL STRUCTURE.

MANAGEMENT OF WORKING CAPITAL IN

RAJASTHAN DAIRY FEDERATION

3.1 Introduction
35

3.2 Definition Of Working Capital

35

3.3 Distinguish between cash flows & working capital

36

3.4 Working Capital Management 39

3.5 Objectives Of Working Capital 41

3.6 Characteristics Of Working Capital 42

3.7 The dignified study of account receivables and

account payables 48

3.8 Concept Of Working Capital 50

3.9 Source & element of Working Capital 51

3.10 Current Assets Cycle 53

3.11 Why Working Capital Management? 55

3.12 Factors Determining The Working Capital

Requirements 55

3.13 Significance Of Working Capital Management 59

3.14 Classification Of Working Capital 61

3.15 Techniques For Analysis Of Working Capital 68

3.16 Methods For Estimating Working Capital demand 71

3.17 Optimum level of working capital 72

75-110
CHAPTER INTEGRATED AND MUTUAL RELATIONS
IV AMONG THE ‘INPUT AND ‘OUTPUT’ ASPECTS
OF WORKING CAPITAL STRUCTURE

Integrated role of ‘input’ and ‘output’ aspects.

Analytical study of ‘input’ and ‘output’

aspects.

Dimensional aspects of the components of

working capital
76
4.1 Concept of operating income and expenditure

Operating Expenses
4.2 78
79
Why Do Operating Expenses Affect An Owner's
4.3 Equity?
79
4.4 Why Operating Income Is Important
80
4.5 Business Expenses & How They Affect
80
4.6 Gross profit
4.7 81
Operating Profit
4.8 81
Net profit

4.9 Analytical study of ‘input’ and ‘output’ aspects 81

4.10 82
Calculation of various ratio

4.11 Current ratio: 83

4.12 Quick Ratio 85

4.13 Debtors turnover ratio 89

4.14 Average Collection period 91

4.15 Working Capital turnover ratio 92

4.16 Debt Equity Ratio 95

4.17 Fixed assets to loan ratio 96

4.18 Operating ratio 99

4.19 Gross profit ratio 101

4.20 Net profit ratio 103

4.21 Operating Expenses ratio 105

4.22 Stock turnover ratio 107

4.23 RCDF sales
109

CHAPTER V PERFORMANCE AND EVALUATION OF 111-159

WORKING CAPITAL SCENARIO

A study of working capital status at study

units.

Comparative study.

Short and long term aspects of financial

management to be needed.

Challenges and problems arising out of the

working of financial management

5.1 Ajmer Unit 113

5.2 Alwar Unit 118

5.3 Bhilwara Unit 124

5.4 Jaipur Unit 129

5.5 Udaipur Unit 134

5.6 Comparative study of different units 140

5.7 Short Term Sources Of Working Capital Financing 141

5.8 Long Term Sources Of Working Capital Financing 144

5.9 Working Capital financing

145
5.10 Working capital management in RCDF units 147

5.11 Working Capital Management – Internally 147

5.12 Saras dairy policies and constraints 149

5.13 Role of working capital management in value 150

creation
5.14 Management of Receivables 150

5.15 Managerial aspect of finance 150

5.16 Finance manager have keep some points for 151

working capital management

5.17 Research methodology 152

5.18 Performance analysis of assets Investment 153

CHAPTER Developing the Core Areas for Resource based 160-184

VI units

Multilevel role of Working Capital.

Operating Cycle.

Core areas/suggestive part.

Managing and maintaining the level of

working capital at study units.

6.1 Management Of Working Capital 161

6.2 Cash Management. 161

6.3 Inventory management 163

6.4 Debtors Management 165

6.5 Working Capital And The Cash Conversion Cycle

168
6.6 Strategies For Shortening The Cash Conversion 171
Cycle

6.7 Developing The Core Areas For Resources Based

Units 172

6.8 Resources Based Theory 173

6.9 Limitation of the study 175

 176
6.10 Hypothesis testing

6.11 Conclusion & Findings 179

QUESTIONNAIRE 180-184

REFERENCE 185-186

BIBLIOGRAPHY: 187-189

Publish paper-1
Why self-goals may be sometimes non-
motivating
Publish paper-2
Working Capital Management and Rajasthan
Cooperative Dairy Federation Profit ability

Conference Certificate

Page. no.
Charts no. Title of charts
1.1 Chart of Working capital assessment of different union 5
1.1
2.1 Chart of present state of dairy cooperative 2.1 25

2.2 RCDFC Average milk procurement chart 2.2

27
2.3 Chart of Milk union 2.3 33

3.1 Chart of working capital cycle 3.1 51

3.2 Chart of current assets cycle 3.2 54

3.3 Chart of working capital classification 3.3 61

3.4 Chart of types of working capital on the basis of time 64

3.4

4.1 Chart of current assets and liabilities 4.1 85

4.2 Chart of current ratio 4.2 85

4.3 Chart of quick assets and current liabilities 4.3 87

4.4 Chart of quick ratio 4.4 88

4.5 Chart of net credit sales and average debtors 4.5 90

4.5.1 Chart of debtors turnover ratio 4.5 90

4.6 Chart of debtors turnover and average collection period 92

4.6

4.7 Chart of total sales revenue and net working capital 4.7 94

4.8 Chart of working capital turnover ratio 4.8 94

4.9 Chart of long term debt and equity 4.9 96

4,10 Fixed assets to loan (FACR): 4,10 97

4.11 Chart of fixed assets to loan ratio: 4.11 98

4.12 Chart of operating expenses and sales 4.12 100

4.13 Chart of operating ratio 4.13 101

4.14 Chart of gross profit and sales 4.14 102

4.15 Chart of gross profit ratio 4.15 103

4.16 Chart of sales and net profit 4.16 104

4.17 Chart of net profit ratio 4.17 105

4.18 Chart of net sales and operating exp. 4.18 106

4.19 Chart of operating ratio 4.19 107

4.20 Chart of COGS and average stock 4.20 108

4.21 Chart of stock turnover ratio 4.21 109

4.22 Chart of net credit sales 4.22 110

5.1 Chart of current ratio of ajmer union (5.1 ) 114

5.2 Quick ratio chart of ajmer units 5.2 115

5.3 Total assets to current assets ratio 5.3 115

5.4 Cash to working capital chart of ajmer 5.4 116

5.5 Investment to working capital chart of ajmer units 5.5 116

5.6 Current ratio chart of alwar union 5.6 120

5.7 Chart of total assets and liabilities 5.7 120

5.8 Quick ratio chart of alwar unit 5.8 121

5.9 Cash to working capital ratio chart of alwar unit 5.9 121
5.10 Investment to working capital ratio chart 5.10 136

5.11 Total assets to current assets ratio chart 5.11 137

5.12 Current ratio chart of bhilwara union 5.12 140

5.13 Quick ratio chart of bhilwara unit 5.13 141

5.14 Working capital chart of Bhilwara union 5.14 141

5.15 Investment to working capital chart of Bhilwara unit 142

5.15

5.16 Total assets to current assets chart of bhilwara unit 5.16

142
5.17 Cash to working capital chart of bhilwara unit 5.17 143

5.18 Chart of total assets and liabilities of Bhilwara unit 5.18 143

5.19 Current ratio chart of Jaipur union 5.19 146

5.20 Quick ratio chart of Jaipur unit 5.20 146

5.21 Chart of Total assets and liabilities of Jaipur unit 5.21 147

5.22 Investment to working capital chart 5.22 147

5.23 Total assets to current assets ratio chart 5.23 148

5.24 Cash to working capital ratio chart 5.24 148

5.25 Current ratio chart of Udaipur union 5.25 151

5.26 Quick ratio chart of Udaipur unit 5.26 151

5.27 Chart of total assets and liabilities of Udaipur unit 5.27 152

5.28 Total investment to working capital chart 5.28 152

5.29 Cash to working capital chart 5.29 153

5.30 Chart of total working capital of five units 5.30 155

6.1 Chart of working capital and the cash conversion cycle 183
6.1

Table no. Title of Table Page.

no.
1.1 Table of Working capital assessment of different union 4

2.1 Table of present state of dairy cooperative 2.1 25

2.2 Table of RCDFC Average milk procurement 2.2 26

2.3 Table of Milk union 2.3 32

4.1 Table of RCDF Ltd. statement input and output analysis 81

Table No. 4.1
4.2 Table of current assets and liabilities Table no.4.2 84

4.3 Table of quick assets and current liabilities 4.3 86

4.4 Table of net credit sales and average debtors table no. 89
4.4

4.5 Table of Average Collection Period 4.5 91

4.6 Table of Working capital turnover ratio: Table no. 4.6 93

4.7 Table of long term debt and equity: table no.4.7 95

4.8 Table of Fixed assets to loan ratio Table 4.8 97

4.9 Table of COGS and Operating Expenses Table no. 4.9 100

4.10 Table of Gross profit and sales Table no. 4.10 102

4.11 Table of Net profit and net sales Table no.4.11 104

4.12 Table of Operating and Net sales Table no.4.12 106

4.13 Table of COGS and Average stock 4.13 108

4.14 Table of RCDF sales Table no. 4.14 109

5.1 Table of AJMER UNION Table no. 5.1 113

5.2 Table of Alwar Milk Union 5.2 119

5.3 Table of Bhilwara Milk Union Table No.5.3 124

5.4 Table of Jaipur Union Table No. 5.4 129

5.5 Table of Udaipur Milk Union Table no. 5.5 135

5.6 Table of Working capital assessment of different union 139

Table no. 5.6