Internship Project Report on “Financial Management”

With reference to Visakha Container Terminal Private Ltd.

A Project Report Submitted in Partial Fulfillment of the Requirement for the Award of the
degree of

Bachelor of Commerce ACCA

Submitted By
Gurpreet Singh
[Link]: VU22MGMT0300089
(2023 – 2025)

Under the guidance of

Dr. N Anuradha
Associate director

GITAM School of Business

GITAM (DEEMED TO BE) UNIVERSITY
Rushikonda

Visakhapatnam-530045.

1
 CERTIFICATE

This is to certify that the Internship Report entitled on “FINANCIAL MANAGEMENT” is

a genuine and bonafide work prepared in partial fulfillment of the requirements of [Link]

ACCA degree of GITAM (Deemed to be) University, Visakhapatnam was carried out by Mr.

Gurpreet Singh, Reg No. VU22MGMT0300089 under my guidance and supervision.

Visakhapatnam

Date:

Dr. N. Anuradha

2
 DECLARATION

I hereby declare that the project work/Internship report entitled on “Financial Management”

is an original report submitted by me for the partial fulfilment of the award of degree Bachelor

of Business Administration, GITAM Deemed to be University, Visakhapatnam and it is not

submitted anywhere either in part or in full for degree or post graduation of any university.

Place: Visakhapatnam
Date:

Signature of the student

GURPREET SINGH
VU22MGMT0300089

3
4
 INDEX

[Link] Topic Page no.

1. Introduction 6-12

2. Industry & Company profile 13-27

3. Analysis of the study 28-36

4. Conclusion 37-41

5
Chapter 1: Introduction

About the topic:

The Finance Department of “Visakha Container Terminal Private Limited” a leading Port &
Logistics service company renowned for its Container Handling and Port Services has given
me the valuable opportunity to gain practical experience and insights into the finance
industry. The internship duration was from 2-05-2024 to 31-05-2025.

During this period, I worked closely with the finance department, which is critical in ensuring
the organization's financial stability, managing investments, and facilitating strategic
decision-making. The department consisted of a team of experienced finance professionals,
including finance managers, analysts, and accountants.

The primary objective of the finance internship was to provide me with hands-on experience
in various financial activities and to develop a practical understanding of finance functions
within a dynamic and fast-paced environment. The internship aimed to enhance my financial
analysis, financial modelling, and budgeting. forecasting, and risk management knowledge.
Furthermore, it provided an opportunity to observe and contribute to a prominent financial
institution's financial operations and decision-making processes.
The corporate sector in Visakha Container Terminal Private Limited (VCTPL) is responsible
for the overall management, governance, and strategic decision-making processes of the
organization. It includes the senior management team and board of directors, who set the
company's direction, formulate strategies, and ensure compliance with regulations and
corporate governance standards. The corporate sector oversees strategic planning, policy
development, stakeholder relations, risk management, financial management, and compliance
to drive the company’s growth, profitability, and sustainability in the container terminal
industry.
Visakha Container Terminal Private Limited (VCTPL) leverages a comprehensive range of
financial services to support its operations and strategic objectives. The company collaborates
with financial institutions to secure funding for infrastructure development, equipment
acquisition, and other capital-intensive projects. VCTPL's finance department diligently
manages financial planning, budgeting, and forecasting, ensuring efficient allocation of
financial resources. They conduct financial analysis to evaluate the company's performance,
identify areas for improvement, and provide strategic financial guidance to drive profitability
and growth. The finance team also maintains accurate financial records, prepares financial
statements, and ensures compliance with accounting standards and regulatory requirements.
Through effective cash flow management, VCTPL optimizes working capital, monitors
liquidity, and strategically manages debt and financing options. By leveraging financial
services and expertise, VCTPL strengthens its financial stability, supports operational
excellence, and enhances its position as a leading player in the container terminal industry.

6
Topic related concepts:

The intern worked on a variety of projects in the finance and accounting department during
the internship at Visakha Container Terminal Pvt Ltd. These initiatives included process
improvement initiatives, collaborative projects with cross-functional teams, compliance and
audit support, budgeting and forecasting, financial analysis and reporting, budgeting, and data
analysis and decision support.
The intern acquired practical experience in financial analysis and reporting, including how to
prepare financial statements, analyze financial data, and assess the organization's financial
performance. By helping to prepare the budget and examining variations to make sure that
financial objectives were fulfilled, they actively participated in the budgeting and forecasting
process.
The intern also had a big part to play in compliance and audit support, where they made sure
regulations were followed, conducted internal audits, and put suggestions for bettering
financial controls and procedures into practice.
The intern used their analytical abilities to analyze financial data, spot trends, and offer
insights to help well-informed decision-making throughout the organization, with a heavy
focus on data analysis and decision support.
Additionally, the intern actively took part in projects to optimize processes to streamline
financial procedures and raise the goal of streamlining financial procedures and raising
operational effectiveness. They worked closely with multiple departments, collaborating with
cross-functional teams to understand their financial needs and offer insightful financial
advice and support.
The intern's abilities in financial analysis, budgeting, compliance, data analysis, process
improvement, and cooperation were further developed during the course of the internship
as they were exposed in practice to important parts of finance and accounting. The practical
training and exposure to actual business situations gave the students insightful knowledge
of how a company’s finance and accounting department operates.

NEED FOR THE STUDY

 Practical Experience: The internship in finance and

accounting provides practical experience using financial theories and methods in
actual situations. One can use real financial data, make computations, examine
financial statements, and participate in financial decision-making processes. Their
knowledge of and competence in accounting and finance procedures is improved
by this practical experience.
 Informational Application: The internship gives them a chance to put the
academic information they have learned about finance and accounting into
practice. They may apply theory to practice, increase their comprehension of
financial concepts, and improve their problem-solving abilities in a work
environment by working on actual projects and assignments.

7
 Developing Professional Skills: The internship aids students in acquiring the
crucial professional skills required for a lucrative career in accounting and finance.
These abilities include adaptability, critical thinking, teamwork, communication,
and attention to detail. Interns can develop their abilities and become more well-
rounded finance professionals through real-world work experience and contacts
with professionals.
 Knowing the F&A Department's Activities: Students obtain a thorough
understanding of the operations and duties of a finance and accounting department
through the internship. Budgeting, financial analysis, financial reporting, auditing,
and compliance are just a few of the duties they are exposed to directly. They are
better able to comprehend the operational details of accounting and finance within
the organization because of this understanding.
 Exposure: Students gain exposure to the business world and norms of the
industry through the internship. They have the opportunity to work with seasoned
experts, observe their work procedures, and comprehend the complexities of the
finance and accounting industry. Their perspective is widened, they are exposed to
other work cultures, and they become more professional as a result of this
experience.
 Careers Making Decisions: Students can use the internship as a platform to learn
more about different career paths in the financial and accounting industries. They
can get knowledge about various professions, markets, and sectors, which helps
them make wise professional decisions. The opportunity to evaluate one's
interests, advantages, and areas of specialization during an internship helps
students choose an appropriate professional path in accounting and finance.

The requirement for practical experience, knowledge application, professional skills

development, comprehension of Finance department activities, exposure to the
industry, and career exploration and decision-making is met by this finance and
accounting internship. It gives students practical skills, improves their comprehension
of accounting and financial procedures, and gets them ready for lucrative
opportunities in the industry.

8
OBJECTIVES OF THE STUDY

1. To obtain a thorough grasp of how businesses operate.

2. To learn useful expertise as well as resources.
3. To improve an individual’s ability for critical thinking and problem solving.
4. To become more familiar with business compliance and governance.
5. To develop great abilities to collaborate and communicate.
6. To adjust to an atmosphere that is dynamic and fast-paced at work

Scope of study:

A practical understanding of and proficiency with a range of accounting and financial

procedures, such as budgeting, billing, payment entries, and reconciliation statements.
Knowledge of compliance standards and financial regulations enables precise and effective
financial management.
Enhanced ability to manage and arrange both analog and digital documents. Acquired
expertise in scanning, attaching, and turning hard copies into soft copies, which reduced
document management and increased information accessibility.
Gained proficiency in vendor management techniques, such as vendor separation, updating
vendor information, and cross-referencing vendor data with pertinent databases and portals.
Enhanced vendor relationships and improved procurement procedures by ensuring
compliance with legislation, particularly when addressing MSME vendor requirements.
Trained in the reading and analysis of company reports, including the directors' and budget
reports. gained knowledge of their objectives, topics, and functions in financial analysis and
decision-making. Enhanced abilities to gather pertinent data and derive insightful conclusions
from these reports.
Learned how to manage Tax Deducted at Source (TDS) entries, including challan payment
information and document filing, and developed practical skills in doing so. A thorough
understanding of the rules and processes governing TDS calculations and software
management was developed, assuring accurate and legal tax processing.
Developed a keen sense of accuracy and attention to detail in financial and accounting
processes. Accurate financial reports and compliance with regulations are produced as a
result of the capacity to cross-check data, reconcile accounts, and validate the information.
increased dependability and overall quality of financial data.

LIMITATIONS OF THE STUDY

To give a comprehensive picture of the study's scope and any potential limits, it is crucial to
recognize the limitations.

9
Data Availability: The lack of data could be one of the study's weaknesses. The
organization's performance, finances, and market data were not easily accessible, which could
have had an impact on the thoroughness and correctness of the analysis.

Time Constraint: One restriction could be the duration or time range of the study. The
analysis is focused on a brief window of time and may not fully comprehend the performance
of the organization or capture long-term patterns.

External Factors: The performance of the organization may be impacted by external

factors outside the purview of the research, such as modifications in the economic
environment, changes in industry dynamics, or changes in the regulatory environment. These
elements might not have been properly taken into consideration or considered in the analysis.

Data Accuracy: The study's utilization of accurate and trustworthy data could have certain
limitations. The general validity of the conclusions may be impacted if the data sources are
stale, lacking, or vulnerable to mistakes.

Industry-specific Factors: The special features of the container terminal business may also
be responsible for the study's limitations. Seasonality, changes in international trade,
competitive dynamics, or regional market conditions can all present complexity that the
analysis may not fully account for.

Generalizability: The generalizability of the study's findings and conclusions to other

organizations or industry environments may be constrained. The particular conditions and
distinctive features of Visakha Container Terminal Pvt Ltd might not be typical of the larger
sector or organizations of a similar nature.

HISTORY OF THE MARITIME OR PORT INDUSTRY

The history of the maritime or port industry is a fascinating journey that spans centuries and
encompasses the evolution of trade, transportation, and globalization. From ancient
civilizations to modern-day mega-ports, the maritime industry has played a pivotal role in
connecting nations, facilitating economic growth, and shaping the world we live in today. In
this essay, we will explore the key milestones, transformations, and challenges that have
shaped the history of the maritime or port industry.
The origins of the maritime industry can be traced back to the earliest civilizations that
emerged along the banks of rivers and coastal areas. Ancient Mesopotamia, Egypt, Phoenicia,

10
and other early civilizations relied on waterways for transportation, trade, and
communication. Rivers such as the Tigris and Euphrates in Mesopotamia and the Nile in
Egypt served as crucial trade routes, allowing goods and people to be transported over long
distances.
As civilizations developed and maritime trade expanded, the need for dedicated port facilities
became evident. Early ports were simple harbours or landing points where boats and ships
could anchor, load and unload cargo, and provide essential services to seafarers. The port of
Lothal in the Indus Valley civilization, dating back to around 2400 BCE, is considered one of
the earliest known maritime trading centers It had a well-organized dockyard, warehouses,
and a system for measuring and storing goods.
The Phoenicians, a seafaring civilization based in the eastern Mediterranean, played a crucial
role in the development of maritime trade during the first millennium BCE. They established
a vast network of ports and trading posts across the Mediterranean, connecting civilizations
from Greece and Rome to Egypt and the Levant. Phoenician ports such as Tyre and Sidon
became thriving commercial centres, handling goods ranging from textiles and spices to
precious metals and timber.
With the rise of the Roman Empire, maritime trade and port infrastructure reached new
heights. The Romans constructed large and sophisticated ports, such as Ostia near Rome and
Portus in the Mediterranean. These ports featured extensive wharves, warehouses, and
administrative buildings, serving as vital hubs for the Roman economy. The Romans also
implemented advanced engineering techniques, such as the construction of breakwaters and
dredging, to improve navigation and port operations.
Following the fall of the Roman Empire, maritime trade in Europe faced a period of decline.
However, with the dawn of the Age of Exploration in the 15th century, the maritime industry
underwent a dramatic revival. Explorers like Christopher Columbus, Vasco da Gama, and
Ferdinand Magellan embarked on ambitious voyages, discovering new trade routes and
establishing global connections. The exploration of the Americas, Africa, and Asia opened up
new trade opportunities and transformed the maritime industry.
During the Age of Exploration and the subsequent colonial era, European powers competed
for dominance in maritime trade. Countries like Portugal, Spain, England, and the
Netherlands established vast colonial empires, and their ports became key nodes in global
trade networks. Ports such as Lisbon, Seville, London, and Amsterdam flourished, handling
goods from around the world and generating enormous wealth for their respective nations.

The 19th century witnessed significant advancements in maritime technology and

infrastructure. The Industrial Revolution brought steam-powered vessels, replacing traditional
sailing ships and revolutionizing maritime transportation. Steamships offered greater speed,
reliability, and carrying capacity, making long-distance trade more efficient. This period also
saw the construction of large-scale port infrastructure, including piers, docks, and
warehouses, to accommodate the growing volume of goods.

The invention of the telegraph further revolutionized the maritime industry in the 19th
century. Telegraph cables laid across the ocean floors enabled real-time communication
between continents, reducing the time needed for coordination and increasing the efficiency
of maritime trade. Ports became hubs of communication, with telegraph offices facilitating
the rapid transmission of messages related to cargo, navigation, and port operations.
In the 20th century, the maritime industry faced significant challenges and transformations.
The two world wars had a profound impact on global trade and port operations. Many ports
were damaged or destroyed during the conflicts, necessitating massive reconstruction efforts.
Additionally, the introduction of containerization in the mid-20th century revolutionized

11
cargo handling and logistics. Container ships, equipped with standardized containers, enabled
faster and more efficient loading, unloading, and transportation of goods, leading to a
dramatic increase in global trade volumes.

The latter half of the 20th century also saw the emergence of mega-ports and the rise of
global shipping conglomerates. Ports like Rotterdam, Singapore, and Shanghai became key
players in the maritime industry, handling millions of TEUs (twenty-foot equivalent units) of
containerized cargo each year. These ports invested heavily in infrastructure, including
deepwater berths, advanced container terminals, and intermodal connectivity, to
accommodate larger vessels and meet the demands of global trade.
However, the maritime industry has not been without its challenges. Environmental concerns,
such as pollution from ship emissions and the impact of port operations on coastal
ecosystems, have gained significant attention. Efforts have been made to develop sustainable
practices, promote cleaner fuels, and minimize the ecological footprint of the industry.
Additionally, the industry faces security threats such as piracy and terrorism, requiring
increased vigilance and security measures to ensure the safe passage of goods and protect
maritime assets.

In recent years, the maritime industry has embraced digitalization and automation to enhance
efficiency and competitiveness. Technologies like blockchain, artificial intelligence, and the
Internet of Things (IoT) are being adopted to streamline processes, optimize supply chains,
and improve port operations. Smart ports equipped with advanced systems for cargo tracking,
automated container handling, and real-time data analysis are becoming the norm, further
transforming the industry.

Looking ahead, the maritime or port industry is poised for further evolution and growth. With
the continuous expansion of global trade and the increasing demand for goods, ports will play
a vital role in facilitating international commerce. Embracing sustainability, leveraging
emerging technologies, and adapting to evolving global trends will be essential for the
industry to navigate future challenges and continue its pivotal role in shaping the world
economy.

In conclusion, the history of the maritime or port industry is a story of human ingenuity,
exploration, and the quest for economic prosperity. From ancient civilizations to modern-day
mega-ports, the industry has adapted to changing times, embraced technological
advancements, and connected nations across the globe. While challenges persist, the maritime
industry remains a cornerstone of global trade and a catalyst for economic development.

12
Chapter 2: Industry & Company Profile

OVERVIEW OF THE ORGANIZATION

VISAKHA CONTAINER TERMINAL PVT. LTD. (VTCPL)

13
INDUSTRIES
Transportation, logistics, supply chain, and storage

COMPANY SIZE
501-1,000 employees

HEADQUARTERS
Visakhapatnam, Andhra Pradesh

VCTPL EMPLOYEES
Employees on a roll- 348, Contract staff- 480

14
INTRODUCTION OF THE ORGANIZATION

Visakha Container Terminal (VCT) operates the container terminal in Visakhapatnam.

Located at the centre of India's East Coast and closest to the Malacca Straits, VCT is an ideal
gateway for container traffic from the states of AP, Telangana, Chhattisgarh, Odisha,
Maharashtra, Jharkhand, Madhya Pradesh & West Bengal.

VCT is blessed with a natural depth of 16 m alongside (deepest in the country) and state of
art container handling infrastructure. The present terminal capacity is 1.3 million TEUs. The
terminal is well equipped with modern infrastructure including Post Panamax STS cranes, the
latest NAVIS SPARCS N 4 software, more than 366 reefer plug points, adequate power
backup, 2 full-length rail sidings, and a fully computerized environment. The organization
has Navis N4 as the Terminal Operating System (TOS) and has moved a step further in
integrating with SAP.

VCT is gradually evolving as a regional transshipment hub in the Bay of Bengal with
containers from Kolkata, Haldia, Paradip, Kakinada, Chittagong, and Yangon getting
transhipped here.
It has well-established rail and road connectivity to the hinterland thereby providing smooth
access for cargo movement to the local hinterland and ICDs at NCR, Nagpur, Hyder, Abad,
and Raipur. VCT is accredited with ISO 9001:2015, ISO 14001:2015, OHSAS 18001: 2007,
ISO 28000:2007, ISO / IEC 27001:2013 and has been conferred AEO status by Customs.

The terminal has been recording decent growth year on year with a CAGR of 22% since
inception. Plans have been drawn out for further expansion. The Port will have a longer quay
line (~ 850 m) for container vessels and 1.5 million TEUs in capacity. Given the natural
advantages that this port enjoys in terms of location, access, natural assets, connectivity, and
the burgeoning industry that surrounds it, VCT is expected to grow at the pace that has been
established over the last few years possibly at a higher rate.

15
DEPARTMENTS
i. Operations
ii. HR and Administration
iii. QHSE (Quality, Health, Safety, and Environment)
iv. Engineering
v. Procurement and Stores
vi. Planning
vii. IT (Information Technology)

FORMATION

Visakha Container Terminal private limited is a new gateway for containers. Cargo moving
from the eastmost of the country. A joint venture between Dubai Ports International and
United Liners Agents has set up a world-class Terminal with an investment of 120 crores, it
commenced its operations. From 26th June 2003.
Dubai Ports Authority (a part of Dubai Ports International) is well known for its superior
level of service to shipping Lines. ULA established in 1947, has evolved into leading
logistics service Provider in India and is accredited with ISO 9001 2000 (Quality
Management System) in August 2000. The Terminal is situated in the order harbor of the port
and is taken on BOTS Basis by the joint venture parties from the port. The first vessel was
called the Terminal on the 28th of June and since then the terminal has been operating
efficiently.

Roles and duties assigned to the intern include:

Assisting with financial data analysis: The intern may be in charge of compiling and
analyzing financial data, including budget reports, expense logs, and revenue statements. To
extract pertinent data and produce insightful data, financial software, and tools are used.

Supporting financial reporting: The intern might assist in creating financial reports such as
cash flow statements, income statements, and balance sheets. This entails guaranteeing
correctness, adherence to accounting principles, and prompt report submission.

Participating in budgeting and forecasting activities: By compiling pertinent information,

doing research, and offering advice for financial estimates, the intern can help with
budgeting. This entails working together with team members and making a contribution to
the creation of feasible and realistic budgets.

Assisting with compliance and regulatory requirements: The intern could assist the Finance
and Accounting team in making sure that all applicable laws, rules, and financial governance
standards are followed. This can entail going over records, running internal audits, and
helping to put control mechanisms in place.

Contributing to financial process improvements: The intern can get the chance to point out
potential areas for procedure improvement within the Finance and Accounting division. This
16
includes coming up with and putting into practice novel ideas, streamlining processes, and
increasing general effectiveness.

Collaborating with cross-functional teams: The intern might collaborate closely with groups
from other departments, like Operations, Sales, and Human Resources, to collect data, share
information, and advance the goals of the whole company. The intern's teamwork and
communication skills are improved as a result of this collaboration, which promotes a
comprehensive awareness of the organization's activities.

Engaging in professional development activities: To further develop their knowledge and

abilities in finance and accounting, the intern may have the chance to take part in training
sessions, workshops, and seminars. This may entail learning new software tools, maintaining
current on developing trends, and becoming familiar with industry best practices.

EQUIPMENT

Rail mounted quay crane:69

Rubber tire gantry crane: 19
Reach stackers: 5
Forlikfts:3 (used for operations activities to handle bins, locks, etc.)
Internal transfer vehicles: 40+
ECH:1
1250 KVA X3 backup generators
Channel depth- 21 meters

The customer-first approach leads the team to find innovative solutions to give a unique user
experience, such as:
Automated gate complex.
Navis SPARCS N4 software for vessel/rail/yard planning.
Real-time updating through radio data terminals.
Equipped with a full-fledged workshop and fuelling facility.
Advanced software systems to provide secure and reliable services to customers and
suppliers, with the flexibility to adapt to specific customer requirements for electronic data
interchange (EDI).

17
Visakha container terminal is India’s fastest emerging prominent destination for global trade.
The Visakha container terminal (VCT) has emerged as a viable gateway to the east and the
Far Visakha container terminal (VCT) has emerged as a viable gateway to the east and Far
East countries. Two-and-a-half-year-old old VCT, though a new entrant in the region, has
proved its viability by doubling the container traffic in a year. Dubai ports international and
United Liner agencies of India are delighted to promote Vishaka container terminal private
Ltd, giving a new private facility within the port of Visakhapatnam –modern, efficient, and
economically capable of boxes from the ships should not be a problem, Mr. Kotak felt.
Several other issues remain to be resolved before the container terminal can start functioning
regularly.
The VPT has to get necessary clearances from the Customs authorities. Also, the tariffs are
yet to be finalized. The proposals for the tariffs to be charged at the berth have been sent to
the Tariff Authority for Major Ports (TAMP), which is yet to give its concurrence.
"The tariffs will be competitive vis-à-vis other gateway ports," added Mr. Kotak.
Understandably the focus of the VCTPL promoters is on the generation of traffic, more so
because of the competition being thrown by P&O Ports running a container terminal at
Chennai port.
VCTPL is targeting a large chunk of the traffic generated in Andhra Pradesh but getting
diverted not only to Chennai but also to JNPT. "We have also set our eyes on the traffic
currently being moved between north India and JNPT," said a spokesman for VCTPL,
pointing out that congestion had hit JNPT, which had virtually reached the saturation point.
Assuming an export growth of 10 to 12 percent, the additional traffic must find an alternative
gateway port and Visakha container terminal could be the obvious choice. "We are also
targeting fast-growing regions such as Raipur, Nagpur, and Bilaspur having excellent rail
connections with Visakhapatnam," he added. However, the Container Corporation of India
(CONCOR) is yet to announce rates from various ICDs to the Visakha container terminal.
When Vizag port trust (VCT) handed over its deep-water berths in the Outer harbor to VCT,
under a build, operate and transfer agreement, few people thought of it as a viable option, as
three other major container ports Kolkata, Chennai & Tuticorin on the east coast were
competing for a Major share of the containerized cargo. With the introduction of modern
infrastructure at the container terminal, coupled.

With tactical marketing, VCT has successfully lured in the cargo business In Addition, VCT
constructed two full-length broad-gauge railways closer to their berths to enable them to
reach vessels directly. For inland container depot (ICD) movements, Vizag was seen as not
only attractive but also as a very viable alternative on the east coast. handling feeder and
maintenance of vessels, around the year with a deep draft of 15.0 meters.

VCTPL has been awarded a 30-year BOT contract to operate the terminal by the
Visakhapatnam Port Trust, which is providing continuous support including priority berthing
and competitive tariff to vessel operators and owners. Mr. Krishna Kotak, Managing Director
of the J.M. Baxi group, would prefer to describe the call of the first vessel as a "soft launch''
as it will be a few more months before all the facilities of the terminal are in place.

For example, work on the construction of the railway line within the terminal would not be
over before September. Till then it would be only road-borne containers.

18
During the current fiscal (up to dec2004) as many as 136 wagons were operated and
548TEUs were moved from VCT through the container corporation of India (CONCOR).
ICD- Tughlakbad and ICD Nagpur are also big users of VCT for their EXIM cargo
movements. At present, about 15% of the total throughput is moved by trains by CONCOR,
but in the future, it will increase as more shipping lines at various ICDS are also looking for
viable alternatives for their eastbound cargoes. The deep container port at Visakhapatnam is
gearing up for more transshipments cargoes as it offers a natural gateway to far east countries
and also serves as a hub for both Myanmar and Bangladesh.
Even east-bound cargoes from Haldia and Kolkata are being transhipped frequently through
Visakhapatnam as mainline weekly fixed vessels are regularized at the terminal. As many as
3,391 TEUs were handled in this fiscal at VCT as transhipments cargo.

VISION OF VCTPL

“To be the most preferred container gateway on the East Coast of India.”

MISSION OF VCTPL

To drive a paradigm shift in container handling at Visakhapatnam from present

conventional facilities of operating geared vessels into modern, efficient safe, and economical
dedicated container terminals.
To capitalize on the advantageous location, deep drafts, excellent track Records of
Visakhapatnam port, and its impressive road and rail connectivity.
To provide an efficient gateway to shipping lines and customers, Connecting Andhra
Pradesh and the rapidly growing hinterland of the north. Central and East India with overseas
markets.
To provide a catalyst by efficiently handling the surging growth in exports and imports,
fulfilling the fast-developing expectation of intra-Asian trade, and utilizing Visakhapatnam’s
geographical proximity to the eastern world.
To facilitate competitive trading conditions through Visakhapatnam by radically transit
times for trade and encouraging the deployment of larger gearless tonnage.
To provide customer satisfaction backed by highly advanced technology, equipment, and an
energetic workforce, supported by a motivating team.
To translate VCTPL as an outstanding example of public and private Enterprise.

VALUES

SAFETY: We prioritize safety in everything we do.

CUSTOMER FOCUS: We put our customers at the heart of our business and strive to
exceed their expectations.
INTEGRITY: We conduct our business with the highest ethical standards and transparency.
TEAMWORK: We collaborate and support each other to achieve our common goals.
INNOVATION: We embrace change and continuously improve our services.

19
SERVICES

Priority movement of container vessels.

Competitive vessel-related charges.
Bunkering and fresh water are available.
Promoting independent road connectivity to NH-5.
Computerized vessel & yard planning.
Efficient and safe operating procedures complying with international standards.
IT-enabled gate complex.
Administration building with modern communication facilities.
Extensive IT network.
Customs processing through EDI online.
Online container tracking.
Single window for all transactions.
Container handling from/to the vessel.
Container storage in the yard.

20
Container delivery/receivable from/to Truck/rail.
Handling of Hazardous/over-dimensional containers.
Lashing/unlashing of containers in the vessel.
Reefer monitoring.
EDI (Electronic Data Interchange).
Garbage removal.

HIGHLIGHTS

VCTPL, an all-weather Container Terminal located in the Outer Harbour of Visakhapatnam

Port, is on the East Coast of India position a latitude 170 41 ' North and a longitude 830 18 '
East.
Quay length is 450 meters and the permissible draught is 15.0 meters. The depth of 16.5
meters makes VCTPL the deepest container terminal in the country, amongst the major ports
in India.
VCTPL is equipped with post-panna max gantry cranes, modern RTGs, Reach Stackers,
and a fleet of modern ITV (Internal Transfer Vehicle) capable of handling all types of
containerized cargo including reefer and out-of-gauge types of equipment.
VCTPL has implemented advanced software and systems to provide secure, reliable, faster,
efficient, and user-friendly services to all its customers, and suppliers. The terminal,
therefore, has the flexibility to adapt the software to specific customer requirements and keep
abreast of the advances in electronic data interchange (EDI).
Geographically, Visakhapatnam lends itself to be the natural conduit of trade from the fast-
growing markets of Andhra Pradesh, Orissa, Chhattisgarh, Jharkhand, MP, UP, north India,
and West Bengal.

21
ORGANISATION CHART DEPARTMENT WISE

ORGANIZATIONAL STRUCTURE

J.M. BAXI GROUP

J M BAXI prides itself in being a 105-year-old business conglomerate, in marine services,

ports, logistics, and technology. Their professionally managed companies span the entire
logistics services value chain including port facilities such as container and multi-cargo port
terminals, container freight stations and inland container depots, niche logistics services for
project and bulk cargo, offshore installations, and ship agency services.
J. M. Baxi & Co. is India's premier shipping services company, standing firmly on the pillars
of innovation, commitment, and performance.

MARINE SERVICES

Marine services are our long-established driven business vertical. Combined all the marine
services companies of the group collectively make the group India’s largest professional and
integrated marine agency.

PORTS AND LOGISTICS

22
As a part of the infrastructure and logistics vertical, the group creates a need for specially
designed shipping logistics infrastructure, including port facilities such as container and
multi-cargo port terminals, container freight stations and inland container depots, niche
logistics services for projects, and bulk cargo.

CRUISE & NAVAL VESSELS

J. M. Baxi & Co. handles over 95% of cruise and naval ships calling in India and has set up a
dedicated cruise cell in Mumbai, which coordinates between cruise principals and various
branch offices in India. Special arrangements include handling passengers, crew, and naval
personnel, for both embarking and disembarking operations. The company maintains close
liaisons with port authorities, relevant government agencies, tourist bureaus, passenger
handling companies as well as Indian Navy.

TECHNOLOGIES

To keep abreast and evolve with ever-changing technologies, the group started this vertical
ten years ago. With a keen presence in water, communication, and digital solutions for the
maritime trade, it is the youngest and most dynamic space in the group.

DREDGING SUPPORT OPERATIONS

J.M. Baxi & Co.'s team of specialists is fully geared to render comprehensive support
services for dredging operations. The scope of services includes agency arrangements,
customs clearance, clearing and forwarding, project transportation, crew handling, and liaison
with government authorities for compliance.

CHARTERING & BROKING

J. M. Baxi & Co.'s shipbroking and chartering services add their professional expertise to
give competitive and cost-effective logistics solutions. Services are available in dry bulk, wet,
chemicals, veg oils, gas, break bulk, finished goods, project, and other cargoes.

CONTAINER AGENCY DIVISION

J. M. Baxi & Co. was one of the earliest agency houses handling containers in India, which
commenced from the ports at Mumbai and Kandla in the early days. Representing various
shipping Lines in its capacity of marketing and operating Agents as well as undertaking
stevedore of liner’s vessels. J. M. Baxi & Co. represented the first container line at JNPT and
continues to represent liner principals at many Indian ports. Representing various Lines,
NVOCC, and feeder operators at Indian ports/ICD and 32 handle matters with a vast
marketing and operational expertise in liner service, operate from various offices across all
Indian locations, & ICD and matters are attended by experienced sales and operations staff
with high senses of professional competence. Services include sales and marketing, customer
service, documentation, operation, vessel planning, yard management, M&R, CFS, and
empty yarn-India basis.

23
PROMOTERS

DP World is a leader in international port terminal operations and development, logistics,

and related services. Reputed for its efficiency and expertise which is driven by leadership in
innovation and commitment to the customers.

United Liners Agencies of India (Private) Ltd established in 1947, has evolved into a
leading logistics service provider in India and is accredited with the ISO 9001: 2008 (Quality
Management System).

POLICY OF THE ORGANIZATION FOR INTERNS AND EMPLOYEES

The intern and employee policies at Visakha Container Terminal Pvt Ltd are created to offer
a welcoming atmosphere that promotes personal and professional development. The company
is dedicated to ensuring that everyone has an equal opportunity to succeed and to fostering a
culture of integrity, fairness, and respect.
The policy describes the goals, demands, and expectations for interns during the internship
period. It places a strong emphasis on the value of professionalism, active learning, and
adherence to the organization's code of conduct. The tools and direction interns need to
advance their expertise in their chosen subjects are made available to them. The evaluation
procedure, feedback systems, and networking and mentoring opportunities are also
highlighted in the policy.
The policy lays out principles and processes for employees regarding hiring, onboarding,
performance management, salary, and benefits, among other elements of employment. It
makes ensuring that the organization's internal rules and pertinent labour laws and regulations
are followed. The policy encourages a good work-life balance, supports ongoing learning and
development, and offers opportunities for professional development.
The organization also places a high priority on the health and safety of interns and workers. It
upholds a supportive working environment, gives workers the required education and tools to
solve occupational health and safety issues, and promotes open communication and the
reporting of any problems or complaints.
Ultimately, Visakha Container Terminal Pvt Ltd's policy demonstrates its dedication to
building an environment where interns and workers are valued, supported, and given chances
to succeed on both a personal and professional level.

PERFORMANCE OF THE ORGANIZATION

Performance of the Organization in terms of turnover, profits, market reach, and

market value

Visakha Container Terminal Pvt Ltd has performed successfully, demonstrating expansion
and success across a range of its operational facets. The company's regular achievement of
remarkable financial outcomes serves as proof of its effectiveness and profitability.

24
HUSBANDING

Crew Embarkation / Disembarkation

Workshop Support
Supply of Fenders
Arranging Port Captain
Ship handling
Cash To Master (CTM)
Fresh Water
Supply of Fenders
Sludge, slops & garbage disposal
Supply of Nautical Charts and Publications
Filling / replacement of gas bottles (Oxygen & Acetylene)
Issuance & Renewal of Lose Gear Certificate
Medical assistance in case of Emergencies

Increasing Trade and Volume Trends

For VCTPL, the year has been noteworthy in a few ways. The greatest monthly throughputs
ever were 49930 TEUs in January 2023 and 56578 TEUs in March 2023, both of which set
records. Not to mention numbers exceeding 9100 TEUs and rail-bound traffic that moved at a
rate of up to 60 rakes. Thanks to the industry, which has continued to be supportive; this
would not have been possible without the help of our loyal customers.
A few more achievements have been added to VCT's resume since MSC started operating
between Visakhapatnam and Colombo in July, connecting the Mediterranean, Europe, the
US, and Africa. Similar to this, JM Baxi-affiliated International Cargo Terminals (ICT) has
set up its rakes on India's East Coast to link the terminal and its surrounding area. On July 24,
2020, the first ICT rake departed from VCT.

25
Visakha Container Terminal Pvt Ltd's revenue has steadily increased over the years,
demonstrating the company's capacity to draw in and keep clients and manage a sizable
volume of cargo. For the fiscal year that ends on March 31, 2023, Visakha Container
Terminal's operating revenues will range between INR 100 crore to INR 500 crore. This
increase in turnover is a result of the company's successful commercial tactics, solid client
connections, and ongoing improvement initiatives.
Visakha Container Terminal Pvt Ltd, a leading container terminal in India, has demonstrated
impressive financial performance over the years. In the fiscal year 2022, the company's net
worth stood at Rs. 1954.56 crores, reflecting its strong financial position. However, the
organization's financial performance witnessed significant growth in the fiscal year that
concluded on March 31, 2023, with the net worth increasing to Rs. 2708.82 crores,
representing a remarkable growth rate of 38.59%. The significant increase in net worth is a
result of the business's good financial management, ethical business practices, and capacity to
create value for its stakeholders. It emphasizes its status as a major participant in the
container terminal sector and reaffirms its dedication to continuous improvement and
excellence.

Visakha Container Terminal Pvt Ltd has demonstrated consistent growth in its EBITDA
(Earnings Before Interest, Taxes, Depreciation, and Amortization) over the years, reflecting
its strong financial performance and operational efficiency. In the fiscal year 2022, the
company reported an EBITDA of Rs. 350.51 crores, highlighting its ability to generate
substantial operating profits. Building upon this strong foundation, the company's EBITDA
witnessed a significant increase in the year-end 2023, reaching Rs. 409.36 crores. This
growth represents a notable increase of 16.79% over the previous year, underscoring the
company's continuous improvement in operational performance and profitability. The
increase in EBITDA is a result of the business's solid financial performance, efficient
management techniques, and capacity for dependable profitability. It proves the firm's
dedication to raising operational effectiveness, boosting financial performance, and
generating long-term value for all of its stakeholders.

26
Visakha Container Terminal Pvt Ltd has experienced significant growth in its total assets,
reflecting its robust financial position and investment in various resources. In the fiscal year
2022, the company's total assets were valued at Rs. 1814.44 crores, indicating the substantial
value of its assets that support its operations and future growth. Building upon this
foundation, the company's total assets witnessed a substantial increase by the year-end 2023,
reaching Rs. 2134.82 crores. This growth represents a significant rise of 18.76% compared to
the previous year, highlighting the company's ability to accumulate and utilize assets
effectively. The company's growth trajectory, prudent financial management, and strategic
investments in assets that boost its operational effectiveness and long-term success are
reflected in the increase of Visakha Container Terminal Pvt Ltd's total assets. It represents the
business's capacity to develop a substantial asset base, sustain its operations, and provide
value for its stakeholders.
Visakha Container Terminal Pvt Ltd has witnessed a significant increase in its liabilities,
indicating the company's financing activities and obligations during the specified period. In
the fiscal year 2022, the company's liabilities amounted to Rs. 499.84 crores, representing the
financial obligations and debts owed by the company. By the year end 2023, the liabilities of
the company experienced substantial growth, reaching Rs. 920.85 crores. This increase
reflects a significant rise of 84.23% compared to the previous year, indicating the company's
increased borrowing or financial obligations. The company's financing efforts and dedication
to funding its growth plans are shown in the large increase in liabilities for Visakha Container
Terminal Pvt Ltd. Higher liabilities signify greater financial commitments, yet it's crucial for
the business to successfully manage its debt and maintain a balanced and sustainable capital
structure. By doing this, the business may support its operations and expansion plans,
preserve its financial stability, and satisfy the demands of its stakeholders.

FUTURE PLANS OF THE ORGANIZATION

The future of a company is directly tied to the quality of the people that can get, grow and
keep on building the team, which means that talent acquisition, talent development, and talent
retention should be major strategic objectives of a business.
Focusing can improve their ability to devise strategies, innovate, and manage organizations.
By giving all attention to the task without distraction, can get it done much more quickly and
with fewer mistakes. Work will be of higher quality as well. Another benefit to being focused
is that creativity will kick in too. And will come up with new ideas.
A vision states what the organization aspires to become in the future. A mission reflects the
organization’s past and present by stating why the organization exists and what role it plays
in society. Goals are the more specific aims that organizations pursue to reach their visions
and missions.
The future focus of VCTPL is to increase the business TEUs.
The VCTPL wants to increase its business to 6 lakh TEUs in a year.
TEU’S= 20 equivalent units
TEU
TEU is an acronym used in logistics, which means ‘twenty equipment unit’ or in other terms
a’20-foot container. Logistics and shipping companies normally load up to 24000 kilograms
[24 metric tons] of cargo in a TEU. An empty container of this size weighs 2280 kilograms
[2.24 metric tons]. Hence the total weight of a fully laden twenty-foot container will be
262826280 kilograms [6.28 metric tons].

27
A twenty-foot equivalent unit [TEU] is a shipping container whose internal dimensions
measure about 20 feet long, and 8 feet wide. And 8 feet tall. It can hold between 9 to 11
pallets, depending on whether they are standard pallets or EUR pallets.
Chapter 3: Analysis Of the Study

a. Detailed explanation of the tasks, projects, or assignments undertake during internship:

During my internship in Finance department at Visakha Container Terminal Private Limited

(VCTPL), I was involved in various tasks, projects, and assignments that provided me with
hands-on experience in finance. One of the significant tasks I understood was assisting in
loan reduction efforts. Here is a detailed explanation of that task and other related
assignments:

1. Loan Reduction: I worked closely with the Financial Controller to analyse the company’s
outstanding loans and developing strategies for loan reduction. I conducted a financial
analysis to assess the feasibility of early repayment, negotiated favourable terms with lenders,
and prepared financial models to evaluate the impact of loan reduction on the company’s
financial position. This task required a deep understanding of financial statements, debt
management, and financial modelling.

2. Financial Reporting: I assisted in preparing financial reports, including monthly and

quarterly statements. This involved analysing financial data, ensuring accuracy and
compliance with accounting standards, and preparing concise and informative reports for
management and stakeholders.

3. Budgeting and Forecasting: I supported the Finance team in the budgeting and forecasting
process. I gathered and analysed financial data, prepared budget templates, and assisted in
creating accurate and comprehensive financial forecasts. This task required attention to detail,
analytical skills, and the ability
to work with large financial data sets.

4. Cost Analysis: I contributed to cost analysis initiatives by reviewing and analysing various
cost components of the organization. I identified cost-saving opportunities, performed
variance analysis, and provided recommendations to improve cost-efficiency.

5. Internal Controls and Compliance: I assisted in reviewing and enhancing internal control
processes within the Finance department. This involved identifying gaps, recommending
control measures, and contributing to the development of policies and procedures to ensure
compliance with financial regulations and company guidelines.

b. Description of the skills, knowledge, and competencies utilized or developed during the
internship:

1. Financial Analysis: I honed my skills in financial analysis by analysing financial

statements, conducting ratio analysis, and interpreting financial data to identify trends and
insights.

28
2. Financial Modelling: I gained experience in financial modelling by creating models to
evaluate loan reduction scenarios, forecast financial outcomes, and assess the impact of
various factors on the company's financial performance.

3. Budgeting and Forecasting: Through my involvement in the budgeting and forecasting

processes, developed skills in data analysis, budget preparation, and forecasting techniques
and support informed financial decision-making.

4. Attention to detail: Working with financial data and preparing reports required high
attention to detail to ensure accuracy and precision in financial statements and analysis.

5. Communication skills: I enhanced my communication skills by effectively presenting

financial information, collaborating with team members, and articulating complex financial
statements and analysis.

6. Time Management: The internship demanded strong time management skills to prioritize
tasks, meet deadline, and balance multiple responsibilities effectively.

c. Challenges encountered and how they were addressed:

During my internship I encountered several challenges, such as:

1. Complex Financial Concepts: Understanding and applying complex financial concepts and
methodologies posed challenge initially. To address this, I actively sought guidance from my
supervisor, conducted research, and engaged in self-study to deepen my understanding of
these concepts.

2. Large Data Sets: Working with large financial data sets requires careful attention and
organization. To overcome this challenge, I developed spreadsheet management techniques,
used data visualization tools, and collaborated with colleagues to ensure accuracy and
efficiency in data analysis.

3. Adapting to Organizational Processes: Understanding and adapting to the specific

processes, systems, and policies of the organization was a learning curve. I actively sought
guidance from my colleagues, asked clarifying questions, and observed established practices
to adapt to the organization's requirements quickly

4. Meeting Deadlines: Balancing multiple assignments and meeting deadlines sometimes

posed a challenge. To address this, I prioritized tasks, created a schedule, and communicated
proactively with team members to ensure the timely completion of deliverables.

d. Collaboration and interaction with colleagues and supervisors:

29
During my internship at VCTPL, I had the opportunity to collaborate and interact with
colleagues and supervisors regularly. I worked closely with the Financial Controller, who
provided guidance, assigned tasks, and provided feedback on my work. I actively participated
in team meetings, where I discussed progress, sought clarification, and contributed ideas.
Collaboration with colleagues involved cross-functional interactions, such as working with
the accounting team to gather financial data, collaborating with Operating team members to
understand cost components, and liaising with the compliance team to ensure adherence to
financial regulations.

Regular communication with colleagues and supervisors facilitated a supportive learning

environment, allowing me to seek guidance, exchange knowledge, and contribute effectively
to my projects and tasks.

TASKS PERFORMED- ELABORATED

The intern actively participated in a variety of finance and accounting duties throughout their
internship at Visakha Container Terminal Pvt Ltd. To ensure effective financial operations
inside the organization, these activities were completed in line with the weekly reports. An
explanation of the tasks completed is provided below:
Assistance with budgeting, forecasting, and financial analysis and reporting: The intern
actively assisted the finance team with budget creation, financial forecasting, and data
analysis. They assisted in the development of thorough financial reports and statements.
Managed accounts payable and receivable: The intern handled accounts payable and
receivable responsibilities, which were crucial in guaranteeing correct and timely payment
processing. They coordinated vendor payments, tracked invoices, and kept records.
Supported audit and compliance processes: The intern helped with audit and compliance
tasks to make sure that legal requirements were followed. They assisted in gathering and
organizing financial records, supporting efficient audit procedures.
Maintained financial records and data entry: The intern meticulously updated financial
records and inserted information into accounting software. Their accuracy in capturing
financial data and attention to detail helped to keep the books organized and up to date.
Utilized financial software: The intern managed finances with the help of financial
software. They showed that they could handle a variety of financial duties with ease by
utilizing spreadsheets, financial software, and other resources.
Collaborated on projects supporting organizational objectives: To support the goals of
the organization, the intern actively took part in cross-functional projects. They worked
together with team members from many departments, adding their financial knowledge to the
success of the projects.
Helped create financial reports and statements: The intern's collection and analysis of
financial data helped in the production of financial reports and statements. They made sure
the data in these reports were accurate and comprehensive.
Conducted analysis and research for financial decision-making: To assist financial
decision-making processes, the intern conducted analysis and research. They contributed to
knowledgeable financial decisions by offering perceptions and suggestions based on their
findings.

30
Assisted in creating and maintaining a budget: The intern contributed to the development
and upkeep of the organization's budget. To properly allocate resources and track budgetary
performance, they closely collaborated with the finance team.
Participated in the study and interpretation of financial data: The intern worked
diligently to analyze and comprehend financial data. They examined patterns, trends, and
important financial indicators to give the finance team insightful information.
Supported cash flow forecasting and control: The intern helped with attempts to forecast
and manage the financial flow. They helped with pattern analysis, problem identification, and
strategy suggestions for improving cash flow management.
Supported book reconciliation and variance analysis: The intern helped with variance
analysis and book-keeping reconciliation. They examined the financial statements, found any
anomalies, and collaborated with the group to address them.
Assisted with tax compliance and planning: The intern assisted with tax planning and
compliance tasks. They participated in tax planning projects to ensure compliance with
applicable tax legislation and assisted in gathering pertinent financial data for tax purposes.
Participated in process improvement efforts: The intern actively took part in the finance
division's efforts to find potential for process improvement. They offered perceptions and
recommendations for improving efficiency, streamlining financial operations, and overall
financial operations.

WORKING CONDITIONS

Visakha Container Terminal Pvt Ltd's working atmosphere is intended to be comfortable and
professional for everyone that works there. Employee security and health are top priorities for
Visakha Container Terminal Pvt Ltd. The business offers a secure working environment and
follows stringent safety regulations. To protect the safety of all workers, regular safety
training and awareness programs are held. To support effective operations, the organization
maintains a contemporary and well-equipped infrastructure. The workspaces are furnished
with all required amenities, including cozy workstations, cutting-edge equipment, and easy
access to pertinent hardware and software.
For interns, Visakha Container Terminal Pvt Ltd offers a supportive learning environment. I
had the chance to expand my practical knowledge and expertise in accounting and finance
through the container terminal sector. The organization supports learning through practical
projects and assignments and values the professional development of interns. As an intern,
students possess access to knowledgeable individuals who will act as mentors and advisors
for
the duration of their internship. To assist you in bettering your skills and understanding the
complexities of the F&A department, they will offer advice, direction, and feedback.
The organization stressed the need of upholding defined rules, methods, and processes to
guarantee effective operations and a seamless workflow within the finance and accounting
department. Employees were able to comprehend their tasks and expectations thanks to well-
defined job roles and responsibilities.
Employees were expected to adhere to disciplined time management practices and properly
manage their responsibilities. Tools and strategies for time management were used to
increase productivity and guarantee that jobs were finished on time.
Within the department, cooperative connections and teamwork were encouraged. A helpful
and collaborative work environment was promoted by encouraging employees to help and

31
support one another. Cooperation and respect amongst coworkers were valued, which helped
foster a welcoming and supportive workplace environment.
The organization emphasized the value of motivation and offered chances for personal and
professional development. Through training initiatives, workshops, and continuous learning
programs, employees were urged to improve their skills and competencies. To recognize
accomplishments and pinpoint areas for development, performance reviews, and feedback
sessions were held.
While Visakha Container Terminal Pvt Ltd expects interns to be committed to their job, it
also emphasizes work-life balance. The organization works hard to create a friendly,
adaptable workplace where interns may successfully balance their personal and professional
lives.
In conclusion, the environment at the finance and accounting department of Visakha
Container Terminal Pvt Ltd was professional, collaborative, and supportive. A happy and
successful work environment for employees was facilitated by clear job descriptions,
effective communication, disciplined work practices, teamwork, motivation, and a well-kept
office environment.

EQUIPMENT USED

During the internship, the intern at the F&A department of Visakha Container Terminal Pvt
Ltd had access to a variety of cutting-edge and effective tools, which considerably improved
their work and improved the department's overall performance. The organization made it a
priority to provide interns with the tools they need to complete their assignments successfully
and stay current with financial management technologies. The intern's main tool was a
desktop computer loaded with necessary software applications. Several financial databases,
spreadsheet programs, and accounting tools were accessible from this workstation. It acted as
a platform for conducting financial data analysis, producing reports, and carrying out other
crucial duties.
The intern's daily tasks were supported by auxiliary devices in addition to the computer. The
ability to print critical records like financial statements, invoices, and reports on a high-
quality printer made sure that there were physical copies of the most important financial
records available.
To speed up the digitization of physical documents, a scanner was also made accessible. This
made it possible for the intern to digitize paper invoices, receipts, and other financial
documents. Because of the scanner's effectiveness and user-friendly interface, it was possible
to create soft copies that were simple to organize, distribute with team members, and keep.
The business also placed a strong emphasis on data security and confidentiality, offering the
tools required to protect sensitive financial information. Financial data was made available
for secure storage on cloud-based systems or external hard drives to guard against theft and
unauthorized access.
The F&A department promoted the use of productivity tools and technologies to boost
productivity. This featured well-known spreadsheet applications like Microsoft Excel, which
were essential for budgeting, creating financial reports, and analyzing data. Additionally,
specialized accounting software and tools were offered to speed up procedures including
vendor management, bank reconciliation, and invoice processing.
Overall, the availability of modern and dependable equipment considerably aided the F&A
department's capacity to perform effectively. Thanks to Visakha Container Terminal Pvt Ltd's
dedication to offering interns state-of-the-art tools and resources, the intern was able to
complete their duties, improve their financial management abilities, and contribute to the
company's overall success.

32
WEEKLY WORK SCHEDULES

Throughout the four months of the internship, the intern at the F&A division of Visakha
Container Terminal Pvt Ltd adhered to a carefully planned weekly work schedule that was
intended to maximize productivity and successfully support the organization's financial
operations. The workweek consisted of Monday through Saturday from 9 am to 5 pm, with
an hour for lunch.
The intern prioritized all outstanding chores according to priority and urgency at the start of
each day. This made it possible to plan the day's tasks well and to allow enough time for each
assignment. The intern was in charge of several financial duties, including auditing invoices
on the GST website, revising vendor data, creating bank reconciliation statements, and
digitizing paper records.
The intern actively participated in weeklong F&A department-related initiatives and activities
in addition to her everyday duties. For the upcoming fiscal year, these activities included
updating the contract tracker, making Excel spreadsheets for payment bill approval, and
checking lease accounts for land and royalties. These assignments required accuracy, close
attention to detail, and a complete understanding of financial norms and processes.
A dedicated workstation with the required hardware, including a computer, printer, scanner,
and pertinent software, was given to the intern. Also provided were tools and financial
database access necessary for reporting and data analysis.
The intern learned important skills in financial management, data analysis, and compliance
throughout their internship. Verifying financial records, examining financial reports, and
assuring vendor payment compliance were among the learned skills. Additionally, the intern
gained technical expertise in financial software and tools, which complemented their
industry-specific knowledge.
Ultimately, the intern was given a thorough introduction to the F&A department through the
weekly work schedule, which allowed them to actively contribute to Visakha Container
Terminal Pvt Ltd's financial operations while honing their abilities and understanding of
financial management procedures.

Key learnings and insights gained from the internship experience:

During my internship in the Finance department at Visakha Container Terminal Private

Limited (VCTPL), I gained valuable learnings and insights, such as:

1. Practical application of financial concepts: I had the opportunity to apply the theoretical
knowledge gained from my academic studies to real-world financial scenarios. This hand-on
experience deepened my understanding of financial concepts and their practical implications.

2. Financial analysis and reporting: Throughout my internship, I learned how to analyse

financial data, interpret financial statements, and generate meaning full reports. This
experience enhanced my skills in financial analysis and reporting, providing me with a
practical understanding of financial performance evaluation.

3. Budgeting and forecasting: I was involved in the budgeting and forecasting factors that
impact budgeting decisions. This experience helped me understand the challenges and
considerations involved in creating accurate financial projections.

33
4. Teamwork and collaboration: Working within the finance department, I collaborated with
colleagues and other teams in organisation. This experience involved my teamwork skills,
communication abilities, and my understanding of cross-functional collaboration within a
professional setting.

5. Time management and prioritization: Internships often require managing multiple tasks
and deadlines simultaneously. Through my internship at VCTPL, I developed effective time
management and prioritization skills, enabling me to handle various responsibilities and meet
deadlines effectively.

IMPROVISING THE COMMUNICATION SKILLS

At Visakha Container Terminal Pvt Ltd, one of the significant areas of skill development was
the enhancement of communication skills. Throughout the internship, the intern actively
worked on improving both verbal and written communication abilities.
In terms of verbal communication, the intern actively participated in team meetings,
discussions, and presentations, allowing them to express ideas and opinions clearly and
confidently. They also focused on effective listening skills, ensuring they understood
instructions and collaborated effectively with team members.
Regarding written communication, the intern had the responsibility of preparing reports,
memos, and emails. This provided them with the opportunity to convey complex financial
information concisely and accurately, honing their written communication skills.
To further develop their communication abilities, the intern actively sought feedback from
supervisors and colleagues, enabling them to identify areas for improvement and make
necessary adjustments. They also took advantage of training sessions and workshops offered
by the company to enhance their communication skills.
Overall, the intern's efforts in improving their communication skills during the internship
were instrumental in their day-to-day tasks and prepared them for future professional
endeavors. Their enhanced communication abilities allowed them to effectively convey
financial information, collaborate seamlessly with colleagues, and present ideas clearly and
concisely.

Examples of accomplishments or achievements during the

internship:

During my internship, I achieved several notable accomplishments, such as:

1. Helped with loan reduction: To reduce loans on their balance sheet, I recommended
Visakha Container Terminal Private Limited (VCTPL) to focus on reducing interest costs. By
implementing measures to minimize interest expenses, VCTPL can effectively lower their
overall debt burden and improve their financial position. This could involve negotiating
lower interest rates with lenders, exploring refinancing options, or strategically managing
their debt portfolio. By reducing interest costs, VCTPL can allocate more funds towards debt
repayment and accelerate the loan reduction process. This approach would enhance the

34
company's financial stability and contribute to long-term cost savings and improved
profitability.

2. Assisting in preparing financial reports: I contributed to preparing financial reports,

including monthly/quarterly financial statements or management reports. My involvement
ensured accurate and timely reporting of financial information.

3. Conducting financial analysis: I analysed financial data, identified trends, and prepared
financial analysis reports. My contributions in analysing key performance indicators (KPIs),
profitability, or cost management provided valuable insights to support decision-making

4. Assisting in budgeting and forecasting: I supported the budgeting and forecasting process
by gathering data, performing analysis, and contributing to the development of accurate and
comprehensive budgets or forecasts.

5. Process improvement initiatives: During my internship, I identified opportunities for

process improvement within the Finance department. I proposed and implemented efficiency-
enhancing measures, such as streamlining financial workflows or improving data
management processes.

6. Collaborating on cross-functional projects: My internship experience involved

collaborating with colleagues from different departments on specific projects or initiatives.
My contributions to these cross- functional projects showcased my ability to work effectively
in a team and deliver results.

Relevance of the internship experience to my academic and career goals:

The internship experience in the Finance department at VCTPL was highly relevant to my
academic and career goals in several ways:

1. Practical application of academic knowledge: The internship allowed me to apply the

theories and concepts learned in my academic studies to real-world financial scenarios. This
experience deepened my understanding and practical skills in finance.

2. Industry exposure and professional development: The internship exposed me to the

shipping and logistics industry, allowing me to gain insights into its operations, challenges,
and opportunities. This experience broadened my industry knowledge and provided a
foundation for my career in finance within this sector.

3. Skill development: Throughout my internship: I developed and refined various skills

essential for a career in finance, including financial analysis, reporting, budgeting, and
teamwork. These highly transferable skills will be valuable in future academic pursuits and
professional roles.

4. Networking opportunities: During my internship, I had the chance to network with

professionals in the finance field, both within the organization and potentially with external
stakeholders. Building professional network can open doors to future career opportunities and
provide valuable mentorship and guidance.

35
5. Enhanced career prospects: The internship experience at VCTPL strengthened my resume
and increased my competitiveness in the job market. Employers value practical experience,
and my internship demonstrates my ability to apply financial knowledge and contribute
effectively professionally.

ENHANCING THE ABILITIES IN GROUP DISCUSSIONS AS A TEAM MEMBER

Throughout the internship at Visakha Container Terminal Pvt Ltd, the intern made significant
strides in enhancing their abilities in group discussions as valuable team members. They
actively participated in various group discussions, where they honed their communication and
collaboration skills.
By actively listening to others and respecting diverse viewpoints, the intern created a
supportive and inclusive environment within the team. They learned to express their thoughts
and ideas succinctly and effectively, ensuring their contributions added value to the
discussions.
The intern actively engaged in the discussions by asking thoughtful questions, seeking
clarifications, and offering constructive suggestions. They demonstrated their ability to
analyze complex information and provide insightful input, which greatly contributed to the
team's decision-making process.
Seeking feedback from team members and mentors played a crucial role in their growth. By
embracing constructive criticism and utilizing it to improve their communication and
teamwork skills, the intern consistently refined their approach in group discussions.
Participating in training sessions and workshops provided by the company further
empowered the intern to enhance their abilities. They gained knowledge about effective
communication techniques, conflict resolution, and active listening, enabling them to
contribute more effectively as a team member.
Overall, the intern's dedication to enhancing their abilities in group discussions as team
members greatly enriched their internship experience and positioned them as a valuable asset
to the team.

Overall, I gained an understanding of technological developments and their implications in

the industry. They developed technical skills, software proficiency, and a mindset for
embracing emerging technologies. This knowledge will enable them to contribute effectively
to organizations' digital transformation efforts and adapt to the ever-evolving technological
landscape.

36
Chapter 4: Conclusion

In conclusion, my internship experience at Visakha Container Terminal Private Limited

(VCTPL) in the finance department was highly valuable and provided me with numerous
learning opportunities, accomplishments, and relevance to my academic and career goals in
finance.

Through this internship, I gained practical insights and applied financial concepts to real-
world scenarios. I developed skills in financial analysis, reporting, budgeting, and
forecasting, which are essential for a career in finance.
The tasks I undertook, such as loan reduction efforts, financial reporting, budgeting, and cost
analysis, provided me with hands on experience and a deeper understanding of the finance
function within the shipping and logistics industry.

I encountered various challenges during my internship, including complex financial concepts,

analysing large data sets, adapting to organizational processes, and meeting deadlines.
However, I addressed these challenges by seeking guidance from supervisors and colleagues,
engaging in self-study, prioritizing tasks, and effectively managing my time.

Collaboration and interactions with colleagues and supervisors played a crucial role in my
internship experience. Working closely with the Financial Controller and collaborating with
cross-functional teams allowed me to learn from experienced professionals, contribute to
projects, and enhancing my communication and teamwork skills.

Overall, the internship experience at VCTPL has significantly contributed to my professional

development and prepared me for future academic pursuits and career opportunities. The
practical application of academic knowledge, industry exposure, skill development,
networking opportunities, and enhanced career prospects have made this internship a valuable
stepping stone towards achieving my academic and career goals in finance.
The intern gained information and practical skills in accounting and financial procedures,
such as budgeting, billing, payment entries, and reconciliation statements, via the internship.
They developed skills in handling both analog and digital documents, enhancing accessibility
and document management. Additionally, the intern became proficient in vendor
management strategies that improve vendor relationships and guarantee compliance with
pertinent laws. As a result, they gained the capacity to examine business reports, including
directors' and budget reports, and to draw important conclusions for financial analysis and
decision-making. To ensure correct and compliant tax processing, the intern also received

37
training in managing Tax Deducted at Source (TDS) entries. The intern showed a strong
commitment to accuracy and attention to detail during the program, which led to accurate
financial reports and regulatory compliance.
Overall, the internship considerably improved the intern's technical accounting and financial
skills, allowing them to contribute successfully in a work environment.

Annexure

Internship report – 1st Week

2nd May 2024 – 9th May 2024

Objective of the activity done: Introduction to company’s policies, rules & regulations

Detailed report:

I started on 2nd May, 2024 at the Visakha Container Terminal Pvt Ltd. which comes under the
JMBXI Group and is a corporate company. When I joined here, I was made to understand the
corporate safety standards and measures to be followed during my internship in the company.
I was given an induction class for safely and security standards, learned about how and when
the company was formed, rules and regulations of the company according to the corporate
standards.
Then in the following week I learnt some new and sophisticated tricks and skills in Microsoft
Word, Excel and PowerPoint Presentations. How a contract is prepared on drafted by the
company and the content present in the contract, which department takes care of what subject
in the contract. Learnt about Utilization of time by the company and now I can manage my
time with the work assigned. Learned how to scan hand copes of document and converting
them into PDF. Understood how to bring out the subject items of minutes of meetings at one
place to trace it out for the future requirements of the company.
This made me learn how the company serves its time finding documents instead of going
through physical files. This thought me "Time Management”. I also learnt about the format of
the preparation of a “corporate profit and loss account and balance sheet”.

38
Internship report – 2nd Week
10th May 2024 – 16th May 2024

Objective of the activity done: Familiarity with the companies operations and excel
operations with recordkeeping skills

Detailed report:

I learned a lot about how the company does its business throughout the financial season
during my second week of internship there. This week I was thought how the “cash” inflow
and outflow takes place i.e, how the daily transactions takes place at the firm. I was given a
task of creating a list for the company in excel spreadsheet so that they could keep the track
of the agreements and simply trace them out.

I have learned a lot about the numerous things the department perform to manage their daily
operations during this week of my internship at the company. I was given a task to complete
utilizing the sum-if formula under multiple calculations in excel the spreadsheet. An
explanation on how the corporate updates petty cash bills and then distributes the of money
for those bills. Also a description of the bank reconciliation statement was provided with the
posting of Tax deducted at source entries in the software.

Also, some of previous works work on the preparation of the tracker for the business's
agreements was contributed. I was also shown how to use the Software (CAP) to create
attachments for each entry, and I was required to do so by scanning the original and turning
them into soft copies.

39
Internship report – 3rd Week
17th May 2024 – 23rd May 2024

Objective of the activity done: Learning contract management and soft copy attachments in
software.

Detailed Report:

During this week, I continued to learn and expand my skills in the finance and accounting
department. This week, my focus was on contract and bill maintenance as well as scan and
upload some documents, also to scan and upload various documents. I was able to complete
the preparation of the tracker for the contracts, which helped me in understanding the
importance of keeping accurate records of agreements and contracts. This task helped me
gaining proficiency knowledge in using the software and also it enhanced me to understand
of the company’s document management system. I also learned about the collection of
payments for bills, which helped me to understand the financial process of the company.

In addition to this, I received training on the billing entries on the software, which involved
the process of generating invoices, updating payment details, and tracking outstanding
payments. I also updated the tracker for the company’s contracts and agreements, which
helped me develop my organizational skills and attention to the details. Towards the end of
week, I was introduced to the procedure for maintaining Fixed deposits. This provided me
with an overview of how the company invests its funds and the importance of keeping track
of the investments.

Overall, the training gave me a comprehensive understanding of the company’s financial

management processes and how different entries were made the software for various
transactions. I was able to contribute to the department’s operations and improve my skills in
excel.

40
Internship Report- 4th Week
24th May 2024 - 31st May 2024

Objective of the Activity Done: Budget v/s actual analysis.

Detailed report:

Cross-checking the budget with the actual report was one of the jobs I had to complete during
the final week of my internship. I thoroughly examined and contrasted the budgeted numbers
with the actual costs and income received within the designated period. I also get
explanations on the revenue analysis. I gained knowledge of many revenue streams, including
sales, services, and others. In addition, I studied managing loan accounts, such as interest
computations, payback plans, and adherence to loan agreements. I also took part in paying
bills after receiving a through explanation of the procedure. I gained knowledge of the
procedures involved in checking invoices, getting approvals, and processing payments.

My understanding of the value of accuracy, paperwork, and payments time table adherence
has improved thanks to this practical experience. I actively participated in the financial tasks
throughout the week. Crosschecking the budget v/s actual reports creating the actual report,
analysing revenue, managing loan accounts and enabling bill payments allowed me to get the
physical knowledge and skills required for making wise financial decisions and preserving
the company’s financial liability.

I also got a breakdown of the stock consumption report, this report gives a general summary
of the inventory used throughout the given time period. I gained practical knowledge of how
to assess data, evaluate consumption trends, and match up the financial transactions. Overall,
I learned significantly about TDS calculations, bill payment entries, bulk payments and stock
consumption report.

41