Grofresh Agrofoods Private Limited

CHAPTER -01
INTRODUCTION
My summer internship project focuses on the development and analysis of Gro fresh Argo Foods Private
Limited, is a leading player in the frozen foods industry, transforming freshly harvested fruits and vegetables
into convenient, high-quality products. the company focuses on providing nutritious, easy-to-store, and ready-
to-consume food options that cater to the needs of modern consumers. With a commitment to innovation,
sustainability, and quality, Refresh collaborates closely with local farmers and employs advanced technologies
to ensure the freshness and nutritional value of their products. Their extensive product range includes IQF
(Individually Quick Frozen) fruits and vegetables, which are exported to various regions in Asia and Europe.
Refresh Agrifoods is dedicated to offering healthy, tasty food with minimal preparation time, making it a
trusted name in the frozen foods market

Industry Profile
The frozen food industry is a competitive market that includes a variety of products, such as frozen fruits,
vegetables, meat, seafood, dairy, and prepared meals. Some of the leading companies in the frozen food industry
include Unilever, Nestle, General Mills, The Kraft Heinz Company, Tyson Foods, and Conagra Brands.

Freezing food preserves it from the time it is prepared to the time it is eaten. Since early times, farmers,
fishermen, and trappers have preserved grains and produce in unheated buildings during the winter season.
Freezing food slows decomposition by turning residual moisture into ice, inhibiting the growth of most
bacterial species. In the food commodity industry, there are two processes: mechanical and cryogenic (or flash
freezing).The freezing kinetics is important to preserve the food quality and texture. Quicker freezing
generates smaller ice crystals and maintains cellular structure. Cryogenic freezing is the quickest freezing
technology available due to the ultralow liquid nitrogen temperature −196 °C (−320 °F).[2]

Preserving food in domestic kitchens during modern times is achieved using household freezers. Accepted
advice to householders was to freeze food on the day of purchase. An initiative by a supermarket group in
2012 (backed by the UK's Waste & Resources Action Programmed) promotes the freezing of food "as soon as
possible up to the product's 'use by' date". The Food Standards Agency was reported as supporting the change,
provided the food had been stored correctly up to that time.

Frozen food packaging must maintain its integrity throughout filling, sealing, freezing, storage, transportation,
thawing, and often cooking. As many frozen foods are cooked in a microwave oven, manufacturers have
developed packaging that can go directly from freezer to the microwave.

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In 1974, the first differential heating container (DHC) was sold to the public. A DHC is a sleeve of metal
designed to allow frozen foods to receive the correct amount of heat. Various sized apertures were positioned
around the sleeve. The consumer would put the frozen dinner into the sleeve according to what needed the
most heat. This ensured proper cooking.

Today there are multiple options for packaging frozen foods. Boxes, cartons, bags, pouches, Boil-in-Bags,
lidded trays and pans, crystallized PET trays, and composite and plastic cans.

Scientists continue to research new aspects of frozen food packaging. Active packaging offers many new
technologies that can actively sense and then neutralize the presence of bacteria or other harmful species.
Active packaging can extend shelf-life, maintain product safety, and help preserve the food over a longer
period of time. Several functions of active packaging are being researched.

The speed of freezing has a direct impact on the size and the number of ice crystals formed within a food
product's cells and extracellular space. Slow freezing leads to fewer but larger ice crystals while fast freezing
leads to smaller but more numerous ice crystals. This difference in ice crystal size can affect the degree of
residual enzymatic activity during frozen storage via the process of freeze concentration, which occurs when
enzymes and solutes present in a fluid medium are concentrated between ice crystal formations. Increased

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levels of freeze concentration, mediated by the formation of large ice crystals, can promote enzymatic
browning.

Large ice crystals can also puncture the walls of the cells of the food product which will cause a degradation
of the texture of the product as well as the loss of its natural juices during thawing. That is why there will be
a qualitative difference observed between food products frozen by ventilated mechanical freezing, non-
ventilated mechanical freezing or cryogenic freezing with liquid nitrogen.

According to a 2007 study, an American consumes frozen food on average 71 times a year, most of which are
pre-cooked frozen meals

The freezing technique itself, just like the frozen food market, is developing to become faster, more efficient
and more cost-effective. As demonstrated by Birdseye's work, faster freezing means smaller ice crystals and
a better-preserved product.

Birdseye's original cryogenic freezing approach using immersion in liquid nitrogen is still used. Due to its
cost, however, use is limited to fish fillets, seafood, fruits, and berries. It is also possible to freeze food by
immersion in the warmer (at −70 °C (−94 °F)), but cheaper, liquid carbon dioxide, which can be produced by
mechanical freezing (see below).

Most frozen food is instead frozen using a mechanical process using the vapor-compression refrigeration
technology similar to ordinary freezers. Such a process is cheaper at scale, but is usually slower. (There is also
more upfront investment in the form of construction.) Nevertheless, a wide variety of processes have been
devised to achieve faster heat transfer from the food to the refrigerant.

OBJECTIVES OF STUDY

• To Identify the Potential Opportunities for Innovation and Growth

• To know the explore innovative techniques and technologies used in food processing and preservation.
• To build relationships with professionals in the food processing and agricultural industries.
• To Study about Marketing Strategies of Refresh agrifoods Private Limited.

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Needs for Organization study

The purpose of an internship program is to gain knowledge about the organization program real world work
experience and a compressive understanding of the organization. It offers inside into company culture and its
core operation while importing specific knowledge and everyday practices required in my job. In terms gain
technical expertise relevant to the industry develop essential soft skill significantly enhancing their overall all
soft skills like time management adoptability problem solving and team work.it also offers adequate
workspace and resource and improves commutation of expectations and responsibility.

Significance for the organization study

It provides the opportunities to learn about the industry or organization. It allows to connect with. the industry
professionals. To get competitive edge in the job market. It develops the behavior and attitude in an individual
which is necessary at the workplace. It assists in exploring the different career paths. It allows to gain the
experience in the real-life application of the knowledge that acquired in the classrooms, while working with
corporate.

Methodology: Research Design, Primary data, Secondary Data.

Research type:
Descriptive Research

They gather detailed information about consumer preferences, market trends, and agricultural practices to
inform their product development and marketing strategies

Methods of data collection

Primary Data

Financial Reports: Annual reports, profit and loss statements, and balance sheets.

Human Resources Data: Employee turnover rates, satisfaction surveys, and training metrics.

Customer Surveys: Direct feedback from customers on product quality, delivery timelines, and pricing.

Management Team: Insights into company strategy, vision, and goals.

Secondary Data

Official Website: Company history, mission, vision, products, and press releases.

Annual Reports: Financial performance and key initiatives (if publicly available).

News Articles and Press Releases: Updates on new projects, partnerships, or product launches.

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Social media: Posts, campaigns, and customer engagement insights.

Company Brochures: Marketing materials that provide product and service details.

Limitations for the study

• The limited duration of the internship may restrict the depth and breadth of the study, potentially affecting
the thoroughness of data collection and analysis.
• The chosen research methods may have inherent limitations that could affect the validity and reliability of
the findings
• Difficulties in coordinating with externals can impact the project's progress and outcomes.
• Adhering to industry regulations and standards may impose certain constraints on the project's
methodologies and outcomes.
• If the project involves participants or data sources in different languages, language barriers can pose a
challenge in accurate data collection and interpretation.
• Policies and procedures of the host organization or institution may impose certain limitations on the
project's execution.

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Name of The Company : Refresh Agrifoods Private Limited

Year of Incorporation : 26 June 2020

Company Founder : Mr. Srinivasa Naik

Company Category : company limited by shares

Board of Directors : Kothapalli Ramana Raghunatha Reddy ,

Nagaraja naik ,Shreedhar naik

Legal Status : Private limited company

Refresh Agrifoods Private limited established 2019 as exporter of IQF & frozen fruits & vegetables. Refresh
Agrifoods Pvt Ltd is promoted by Mr. Srinivasa Naik. The company which has pursued excellence in all its
endeavors is being one stop haven for all fruit needs is taking a momentous step towards a new age

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of quality and service guided by passionate exerts. Since inception, the company dedicated into the supply of
quality fruits all over India where major quantities been supplied to fruit processors and to fresh fruit Exporters.
We take pride in finding new ways to answer the needs of modern consumers, who may be spending less time in
the kitchen, but have not lost their interest in great-tasting, healthy food on the contrary. We use the same
innovative approach in all aspects of our business, from the techniques we use on our contract farming fields
to determine the optimal moment of harvesting, to our advanced logistics in which we share warehousing
space and loading capacity. We take pride in finding new ways to answer the needs of modern consumers,
who may be spending less time in the kitchen, but have not lost their interest in great-tasting, healthy food on
the contrary. We use the same innovative approach in all aspects of our business.

All our vegetables and fruits are sourced locally, usually within a maximum range of 40 km from our
production plants. This close connection to the field enables close collaboration with the farmers and ensures
the freshness and quality of our products, while reducing our environmental footprint. It also makes it easier
to monitor quality and crop progress. We invest in long-term partnerships with our farmers and help them
work in a more efficient and sustainable manner.

The country has high regulations for waste management and control Frozen Food Products Cost of capital
should associate itself with, and register with the waste management authorities and institutions to be able to
follow regulations, maintain checks, and avoid any future hassles.
Frozen Foods Products cost of capital in view of environmental sustainability, already has a controlled and
designated process of managing waste, and disposing waste in an environmentally friendly manner.

Refresh started as a small local enterprise & grew into an international supplier of fresh-frozen vegetables
&fruits. Today, we are exporting our brand in some of the most fertile regions in Asia & Europe. Thanks to
our international sales and distribution network, our products are now available to consumers in India & some
other foreign regions.
Our products enable people to enjoy the many benefits of freshly harvested vegetables and fruits every day of
the year.
We make a superior world through plant-based food, our vegetables and fruits are frozen within a few hours
after harvesting, ensuring maximum freshness and great taste.
Refresh Agrifoods Pvt. Ltd. is a global market player operating from India in frozen foods. They
transform freshly harvested vegetables & fruits into food products that are easy to store, conserve & consume.
Our products respond to the needs of modern consumers who want to enjoy healthy and tasty food, with a
minimum of preparation time. We offer our customers including retailers, food service companies, and the

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food industry in general a wide range of innovative and high-quality products, excellent service, and advanced
logistics.

Vision and Mission, Quality Policy

Vision
To be the best in the field and be the preferred choice for our customers when it comes to sourcing of frozen
or dehydrated fruits and vegetables.

Mission

We hope to accomplish our vision by working closely with farmers for backward linkages and training our
people to always aim high in following best processing practices in a safe and hygienic way so that our
customers always get good quality products.

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Quality Policy

A GROFRESH company's quality policy typically includes:

Food safety:

Ensuring that products are safe for consumption and meet legal and regulatory requirements

Training:

Providing employees with training on food safety and quality, including Good Manufacturing Practices
(GMP)

Monitoring:

Regularly reviewing the quality and safety management system

Communication:

Maintaining internal and external communication channels to respond to information requests

Hygiene:

Maintaining high standards of hygiene in storage, transportation, and personnel

Compliance:

Ensuring that the company complies with all relevant laws and regulations

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PRODUCTION PROCESS

MANUFACTURING PROCESS FLOW CHART

WASHING/CLEANING/
DE-STONING

PEELING

DICING /
SLICING

GRADING /
INSPECTION

FREEZING

WEIGHING AND
PACKAGING

COLD
STORAGE

1. WASHING/CLEANING/DE-STONING :

Adherence to highest Food Safety Standards and ensuring retention of nutritional and sensorial value resulting
in best quality of the frozen pulp.

De-stoning : Uses water to remove stones and other foreign objects from products. De-stoning is usually
done before washing, and can be done using extraction or water flow.

Washing : Uses water to separate and wash products of any foreign objects that may still be present.

Cleaning : Can be done using a flume system to remove heavy contaminants like stones, glass, and nails.

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2. PEELING :
Peeling is a common unit process for many fruits and vegetables to produce fresh-cut, minimally processed,
and canned food products. Mechanical peeling utilizes knives,
blades, or abrasive devices to remove the undesirable part directly from raw food materials. Lye peeling, also
known as caustic peeling, is a chemical method used for peel removal of thin-skinned products, where raw
food materials are exposed to a heated solution containing caustic chemicals that can dissolve the skin. The
steam peeling technique involves placing raw fruits or vegetables inside a pressure vessel, and exposing them
to high temperatures and pressurized steam for rapid heating in a short period.

3. DICING /SLICING :
Use a revolving impeller with a knife blade to cut fruits and vegetables into cubes or dices.
Magura DICECUT: This machine can cut frozen fruits and vegetables into cubes or strips without the need
for long tempering. It can process fruits and vegetables in a wide range of temperatures and block formats.
Magura guillotine style machines and rotary drums: These machines can cut frozen, fresh, or tough foods
into slices, dices, or pieces.

4. GRADING AND INSPECTION:

Grading: The process of sorting fruits and vegetables into categories based on their physical characteristics.
Grading is done to fetch higher prices in the market. Fruits and vegetables are graded based on factors such as
weight, size, color, shape, specific gravity, and freedom from diseases. Grading can be done manually or
mechanically. Manual grading is based on visual observation, while mechanical grading uses a conveyor belt
and bag to sort the produce. Electronic grading systems are also becoming more popular.

Inspection: The process of evaluating the quality of fruits and vegetables.

Temperature : Quick frozen products should be at least -15°C or colder, and other frozen products should be
at least -12°C or colder. You can use an appliance thermometer to monitor the temperature.

Packaging : Make sure the packaging is sealed and check for evidence of pests.

Dates : Check the best before and use by dates. Use by dates indicate the safe limit for consuming food.

Condition: If the food is partly frozen, still has ice crystals, or is as cold as if it were in a refrigerator (40°F),
it is safe to refreeze or use.

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5. FREEZING:

Freezing is the process that causes a substance to change from a liquid to a solid. Freezing occurs when the
molecules of a liquid slow down enough that their attractions cause them to arrange themselves into fixed
positions as a solid.

Blast Freeze followed by cold storage ensures better preservation of taste and nutritional values. Our freezing
solutions guarantee a high and uniform product quality and cost savings through improved yield.

6. WEIGHING AND PACAKGING:

Weight : Pre-packaged fruits and vegetables must have the net weight of the product on the container. Net
weight is the weight of the goods without the bag, wrapper, or container. Loose or non-prepackaged items
must be sold by net weight or gross weight. Gross weight is the weight of the goods plus the weight of the
bag, wrapper, or container.

Packaging: Fruits and vegetables can be packaged in a variety of containers, including sacks, crates, cartons,
baskets, and pallet boxes. Paper bags are a sustainable option that can reduce mold formation and extend shelf
life.

Active packaging : This type of packaging can help maintain or improve the conditions of the packaged fruits
and vegetables, such as by inhibiting the growth of microorganisms.

Aseptic packaging :This process involves filling a pre-sterilized food product into sterile packaging materials
without reheating for sterilization.
Protection: Packaging can protect fruits and vegetables from environmental conditions like moisture loss,
mechanical damage, oxidation, and light. This can help extend the shelf life of the product.

7. COLD STORAGE

Blast Freeze followed by cold storage ensures better preservation of taste and nutritional values. Our freezing
solutions guarantee a high and uniform product quality and cost savings through improved yield. At the end
of the process, we get the frozen fruit, pulp and juices ready to be used as ingredients by you.

Temperature: The ideal temperature for storing fruits and vegetables is between 35–40°F (1.6–4.4°C).

Humidity: The humidity level should be monitored to prevent the produce from deteriorating too quickly.
Separation: Store fruits and vegetables separately, as some fruits, like apples, bananas, peaches, and pears,
can make other fruits and vegetables ripen and rot faster.

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Containers: Use reusable plastic bags, lidded plastic containers, or lightweight stainless steel containers to
store produce.
Crisper drawer: Store vegetables in the crisper drawer of your refrigerator, which usually has its own
humidity controls.
Wrapping: Wrap leafy greens in a dry paper towel and place them in a breathable bag.
Ventilation: Ensure that fruits and vegetables have good air circulation and are not packed too tightly in the
fridge.
Freezing: Freeze surplus fruits and vegetables at peak ripeness to preserve their quality.

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QUALITY CONTROL

Quality Control (QC) and Quality Assurance (QA) play crucial roles in the export of frozen fruits and
vegetables, particularly in ensuring compliance with the Food Safety and Standards Authority of India
(FSSAI) regulations and the requirements of destination countries.

 Quality Assurance (QA) involves the systematic processes that ensure products meet specified quality
standards throughout production. This includes establishing protocols for compliance with FSSAI
regulations, which govern the safety, quality, and hygiene of processed fruits and vegetables.

 Quality Control (QC) focuses on the inspection and testing of products to confirm they meet quality
standards. This includes verifying that frozen fruits and vegetables comply with both FSSAI requirements
and those set by importing countries.

Roles in Frozen Fruits & Vegetables Export

1. Compliance with FSSAI Standards: QA processes are designed to align production practices with FSSAI
regulations, which include guidelines for safe processing methods, permissible ingredients, hygiene practices,
and packaging standards. These regulations help prevent contamination and ensure that products are safe for
consumption.

2. Meeting Destination Country Requirements: QC ensures that exported products conform to the specific
safety and quality standards of the destination country. This may involve additional inspections or
certifications to meet international standards such as ISO and HACCP, which are often required by importing
nations.

3. Product Testing and Certification: QC includes rigorous testing of frozen produce to verify compliance
with both FSSAI standards and those of the importing country. Export Inspection Agencies conduct
inspections and issue certificates of inspection only after confirming that products meet all necessary criteria.

4. Traceability and Documentation: Both QA and QC contribute to maintaining detailed records of

compliance with FSSAI regulations and destination country requirements. This documentation is essential for
traceability in the supply chain, allowing for quick responses to any quality issues that may arise post-
distribution.

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5. Cold Chain Management: Ensuring proper cold chain management is critical in preserving the quality of
frozen fruits and vegetables during transport. QA processes establish guidelines for maintaining temperature
controls throughout production, storage, and transportation to prevent spoilage.

In summary, QA ensures that processes align with regulatory standards while QC verifies product compliance
at various stages. Together, they are vital for ensuring that frozen fruits and vegetables are safe, high-quality,
and compliant with both FSSAI regulations and the requirements of destination countries.

Key aspects of Refresh Agrifoods' quality control:

• Source Selection:

• Procuring fruits and vegetables primarily from nearby farms within a 40km radius to maintain freshness.

• Partnering with farmers to ensure adherence to quality standards and sustainable practices.

• Pre-harvest inspections to assess quality before picking.

• Sorting and Cleaning:

• Rigorous sorting to remove damaged or substandard produce.

• Thorough washing and cleaning processes to remove dirt and contaminants.

• Processing and Handling:

• Utilizing state-of-the-art processing equipment to maintain nutritional value.

• Strict adherence to Good Manufacturing Practices (GMP) throughout production.

• Regular monitoring of temperature and humidity levels during processing.

• Quality Checks:

• Frequent sampling and testing of products at various stages of production to ensure compliance with
quality parameters.

• Testing for physical characteristics like size, color, and texture.

• Microbiological testing to guarantee food safety.

• Blast Freezing:

• Employing advanced blast freezing technology to rapidly freeze produce, preserving flavor and texture.

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• Finished Product Analysis:

Parameters Attributes Method of evaluation

Color Visual Checks with characteristic color
Physical Parameters Aroma Sensory evaluation with characteristic
Aroma
Dimensions As per the customer specification
Taste Sensory evaluation with characteristic
taste.
TSS (0Brix) Checked with Brix meter
Chemical Parameters Acidity Titration method
Ph Using pH meter
Microbiological TPC, Y&M, E-coli, Coliforms, Done from external Laboratory
Parameters Listeria monocytoses

• Packaging and Labeling:

• Proper packaging materials to maintain product quality and prevent contamination.

• Accurate labeling with relevant information like ingredients, expiry dates, and nutritional values.

• Quality Assurance System:

• Implementation of a robust Quality Management System (QMS) with documented procedures and regular
internal audits.

• Trained quality control personnel to monitor all aspects of production.

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INNOVATION

Refresh have evolved technologies that are the backbone of in-building connectivity solutions. Some of the
innovations led by Refresh include:

1. Unified multi-dimensional platform: One platform for all your frozen/ fresh needs

2. Dynamic Shipment: With a focus on ease of usage, our innovations boast of a 60% faster delivery

3. Future-Ready: We have created a dynamic system that is ready for future modifications.

Business Model Innovation

Refresh strongly believe that the key to driving innovation is knowing the unknown. Refresh follows a
dynamic business model to acquire raw materials from farms and then engage logistics using a three-stage
method: An approach that remains immune to changing business methodologies. Divided into three stages,
the final engagement process includes:

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Identification Development Execution

Suitable raw materials is The process of development Systematic execution is carried
identified from a local farm, revolves around creating a multi- out keeping ease of processing as
perspective to align our business dimensional platform to address the top priority, with easy-to-
solutions accordingly. all issues in one go. deliver products.

Cultural Innovation

The workplace represents the employees who form the foundation for any successful business. Refresh are
proud of its employees and strive to ensure utmost creativity and flexibility when it comes to employee
enrichment. The vision set forth by Refresh for the employees follow these two aspects:

Freedom to Evolve Job Satisfaction

Refresh has made it a mandate to provide employees Job satisfaction is one the key parameters for
an opportunity to showcase their talent in their own employee gratification and Refresh delivers on the
way. Refresh understands each person is different promise. With a steady work-life balance, and an
and everyone needs the freedom to evolve aptitude for career development, Refresh has truly
per their own device. led innovation through culture.

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Refresh is a team driven by intent, with flawless execution delivering outcomes for our many happy customers.
Through the pandemic, the team has outperformed on the promises and delivered relentlessly to create business
growth for our clients. This is a homage to the team’s never-ending dedication and enthusiasm.

PRODUCT PROFILE

Frozen foods include a wide variety of products, such as:

• vegetables
• vegetable mixes & purees
• fruits
• organics
• herbs
• sauces

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Packages prepared by the company

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Products used by the refresh company

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Frozen foods manufactured by the refresh company

COMPETITORS

Integrated Food Park Limited

Integrated Food Park Limited is a public company incorporated on 08 August 2007. It is classified as non-
government company and is registered at Registrar of Companies, Bangalore. Its authorized share capital is
Rs. 510,000,000 and its paid up capital.

The primary objective of the Mega Food Park Scheme is to provide adequate/excellent infrastructure facilities
for food processing along the value chain from the farm to market. It will include creation of infrastructure
near the farm, transportation, logistics and centralized processing centers.
The main feature of the scheme is a cluster based approach. The scheme will be demand driven; pre marketed
and would facilitate food processing units to meet environmental, safety and social standards.

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Srini Food Park Private Limited

Srini Food Park Private Limited is a private company incorporated on 31 January 2009. It is classified as
non-government company and is registered at Registrar of Companies, Hyderabad. Its authorized share capital
is Rs. 370,000,000 and its paid up capital is Rs. 339,914,920. It's NIC code is 154 (which is part of its CIN).
As per the NIC code, it is involved in Manufacture of other food products. Srini
Food Park's Annual General Meeting (AGM) was last held on N/A and as per records from Ministry of
Corporate Affairs (MCA), its balance sheet was last filed on 31 March 2023.
Directors of Srini Food Park are NIKITA VIJAYKUMAR, DALAVAI KRISHNA SWAMY
BADRINARAYANA, RAVEENDRA NALLURI and ANTHONY REDDY GOLAMARI.

ABC Fruits

ABC Fruits is an Indian manufacturer, supplier, and exporter of fruit pulps and concentrates. We cater to both
domestic as well as international markets. Our customer-centric approach and customized offerings in the food
and beverage industry made us one of the best fruit pulp manufacturers in India.

Being a leading fruit pulp manufacturer in India, we offer high-quality fruit pulps, purees and concentrates
to customers across the globe.

We are specialized in the processing of mango, papaya, guava, pineapple and tomato. We started with a mango
pulp manufacturing facility and renowned mango pulp manufacturers in Krishna Giri. Later, we expanded our
product range and now we are one of the leading fruit pulp processing companies in India with state of the
art facilities and advanced manufacturing facilities.

TROPICOOL FOODS PRIVATE LIMITED

Tropical Foods Private Limited(TFPL) was established to produce IQF(Individually Quick Frozen) Fruits,
Vegetables with a state of the art plant located strategically at Hubli, Karnataka. We have built a strong core
team of professionally qualified industry experts in processed foods and agriculture.

The Company has international JV with Jorge NV. Jorge NV BELGIUM is a producer of Frozen vegetables
mainly Silver Skin Onion & Parisian carrots.

The Company has also profitably partnered with KAPPEC (Karnataka State Agricultural Produce Processing
and Export Corporation Limited). This is the state’s first project under the PPP model (Public Private
Partnership) providing us credibility with the farming community.

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PLR FOODS PRIVATE LIMITED

PLR Foods Private Limited is an Indian company incorporated on March 14, 2011, and headquartered in
Chittoor, Andhra Pradesh. The company operates in the agriculture industry, specializing in exporting high-
quality processed fruits. PLR Foods has an authorized capital of ₹32.00 Cr and a paid-up capital of ₹31.86 Cr
as of November 17, 20241. The company experienced a revenue growth of 34.18% for the financial year 2023
but faced a significant decline in profitability with a loss of 124.63% for the same period. The key managerial
personnel include Sumit Vaswani as the Company Secretary, and the directors are Indiramma Peddireddy and
Peddi Reddy. Despite its financial challenges, PLR Foods continues to be an active player in the agriculture
sector with a focus on quality and innovation.

DEPARTMENTS

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HUMAN RESOURCES:

Refresh Agrifoods is responsible for managing the recruitment, development, and well-being of employees. It
ensures that the company attracts top talent, fosters employee engagement, and provides ongoing training and
development opportunities. HR is also responsible for performance management, ensuring that employees are
aligned with company goals and receive competitive compensation and benefits packages.

PROCUREMENT DEPARTMENT:

A procurement department is an essential division within an organization responsible for acquiring the goods
and services needed for its operations. This department's core activities include sourcing suppliers, negotiating
contracts, managing supplier relationships, ensuring compliance with company policies, and overseeing
inventory levels .The procurement department ensures that the organization obtains high-quality products at
competitive prices, thereby supporting its long-term goals and objectives.

MARKETING DEPARTMENT:

A marketing department plays a pivotal role in an organization, responsible for creating and implementing
strategies to promote products or services and attract customers. This department focuses on market research
to understand consumer needs, preferences, and trends, which helps in developing effective marketing
campaigns. Additionally, the marketing team manages advertising, public relations, social media, and content
creation to build brand awareness and enhance the company's reputation.

PRODUCTION DEPARTMENT:

Oversees the manufacturing of products, ensuring that production processes are efficient, cost-effective, and
meet the company’s high-quality standards. This department is responsible for managing daily manufacturing
operations, including capacity planning to meet demand, controlling production costs, and ensuring the safety
and compliance of manufacturing practices. The goal is to deliver products on time without compromising
quality.

ACCOUNTING/FINANCE DEPARTMENT:

Plays a crucial role in managing the company’s financial health. It is responsible for preparing financial
statements, managing budgets, and forecasting financial performance. This department ensures compliance
with tax regulations, oversees internal controls and auditing functions, and manages accounts payable and
receivable. By providing accurate financial information, it helps the company make informed strategic
decisions.

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QUALITY ASSURANCE (QA) DEPARTMENT :

Ensures that Wipro Consumer Care's products meet the highest standards of quality. This team conducts
rigorous product testing to ensure compliance with regulatory requirements and customer expectations. QA is
also involved in monitoring production processes, working with suppliers to ensure the quality of raw
materials, and implementing continuous improvement initiatives to enhance product standards and efficiency.

LOGISTICS DEPARTMENT:

A logistics department is integral to an organization's supply chain management, responsible for planning,
implementing, and controlling the efficient movement and storage of goods, services, and information from
the point of origin to the point of consumption. This department ensures that products are delivered on time,
in the right quantity, and at the lowest possible cost. Key activities include transportation management,
warehousing, inventory control, order fulfillment, and demand forecasting.

MAINTAINANCE DEPARTMENT:

A maintenance department is vital to the smooth operation of an organization, responsible for ensuring that
all equipment, machinery, and facilities are in optimal working condition. This department's key functions
include routine inspections, preventive maintenance, and prompt repairs to prevent downtime and extend the
lifespan of assets. The maintenance team also coordinates with other departments to schedule maintenance
activities that minimize disruptions to operations.

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Grofresh Agrofoods Private Limited

DIVERSIFICATION

Refresh Agrifoods Private Limited has been focusing on diversification through innovation and expansion of
their product range.

1. Product Innovation: They have introduced a variety of frozen fruits and vegetables, including diced
mangoes, sweet corn kernels, and purees. Their products are designed to be convenient and retain natural
texture and nutritional value.

2. Technology Integration: Refresh has implemented state-of-the-art technologies to ensure faster delivery
and future-ready systems. This includes a unified multi-dimensional platform for all their frozen and fresh
needs.

3. Business Model: Their dynamic business model involves acquiring raw materials from local farms and
engaging logistics through a three-stage method: identification, development, and execution. This
approach ensures ease of processing and delivery.

4. Global Reach: Initially a local enterprise, Refresh has expanded its operations internationally, exporting
their products to various regions in Asia and Europe.

5. Sustainability: They focus on sustainable practices by sourcing vegetables and fruits locally, usually
within a 40 km radius from their production plants. This reduces their environmental footprint and ensures
the freshness and quality of their products.

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Grofresh Agrofoods Private Limited

MARKETING MIX / MARKETING STRATEGIES

Refresh Agrifoods Private Limited's marketing mix, often referred to as the 7Ps (Product, Price, Place,
Promotion, People, Physical Evidence), as follows:

1. Product: Refresh offers a wide range of high-quality, freshly frozen fruits and vegetables. Their products
are known for retaining natural texture and nutritional value, processed within hours of harvesting. They
focus on convenience, offering ready-to-eat products that require minimal preparation. The company’s
strong emphasis on technology and innovation helps in providing a seamless and efficient trading
experience, thereby enhancing customer satisfaction and loyalty.

2. Price: While specific pricing details are not publicly available, Refresh likely adopts a competitive pricing
strategy to attract health-conscious consumers looking for convenient, nutritious food options. Their
pricing would reflect the quality and freshness of their products. The company also offers various pricing
plans, including flat fee models and percentage-based fees, giving customers the flexibility to choose a
plan that best suits their trading habits and investment needs

3. Place: Refresh distributes its products both locally and internationally. They source raw materials from
farms within a 40 km radius of their production plants, ensuring freshness and quality1. Their products are

28
Grofresh Agrofoods Private Limited

available in various regions in Asia and Europe, making them a global player in the frozen foods industry.
The company’s digital platforms are user-friendly and equipped with advanced features, enabling
customers to trade and manage their investments seamlessly from anywhere.

4. Promotion: Refresh uses a combination of traditional and digital marketing strategies to promote their
products. They emphasize their commitment to quality, freshness, and sustainability in their promotional
campaigns. Their website and social media platforms are likely used to engage with customers and
showcase their product offerings. These promotional activities are aimed at building brand awareness,
enhancing customer engagement, and ultimately driving customer acquisition and retention.

5. People: The success of Refresh is largely attributed to its dedicated and skilled workforce. The company
invests in regular training and development programs to ensure that its employees are well-versed with the
latest market trends, financial products, and customer service techniques. This focus on employee
development helps in maintaining high standards of service quality and customer satisfaction.
Additionally, Refresh Agrifoods places a strong emphasis on building a customer-centric culture, where
the needs and preferences of customers are prioritized in all business operations.

6. Process: Refresh places a strong emphasis on streamlining its processes to enhance efficiency and
customer satisfaction. The company uses advanced technology to automate trading and back-office
operations, ensuring quick and error-free transactions. Customer onboarding processes are simplified to
provide a hassle-free experience for new clients. Moreover, Refresh continuously monitors and updates its
processes to adapt to changing market conditions and regulatory requirements, ensuring compliance and
operational excellence.

7. Physical Evidence: Physical evidence in Refresh Agrifoods Private Limited encompasses various tangible
aspects that customers encounter. This includes high-quality and visually appealing packaging designed
to preserve the freshness and quality of their frozen fruits and vegetables. The actual products themselves
are processed within hours of harvesting, ensuring they retain their natural texture and nutritional value.
Consistent and professional branding on their products and promotional materials helps build trust and
recognition among consumers.

29
Grofresh Agrofoods Private Limited

DISTRIBUTION POLICY / CHANNELS

Refresh Agrifoods Private Limited utilizes a robust distribution network to ensure their products are widely
available. They distribute their frozen fruits and vegetables both locally and internationally. Locally, they
supply major quantities to fruit processors and fresh fruit exporters across India. Internationally, they have
expanded their reach to various regions in Asia and Europe. Their advanced logistics and warehousing
capabilities enable efficient distribution, ensuring that consumers can access their products easily.

Opening up new markets: Opening up a new distribution channel or expanding distribution into new
geographical areas can give new groups or new types of consumers access to our products or services of the
company.

Speed up delivery: Faster delivery of a product or service is sometimes an advantage when dealing with
frozen goods. Delivery speed combined with a direct-to-consumer business model can together create a new
distribution strategy.

Reduce costs: If a new distribution system or logistics services are improved can significantly reduce costs
and improve profit margins, it is well worth pursuing. For example: If a retailer is operating a very costly

30
Grofresh Agrofoods Private Limited

store/branch distribution system, they can benefit by moving part of their sales to an online distribution system
to save premises free, direct sales staff, etc.

Reducing out of stock: If retail out of stock is a major issue in an industry or product category, a new
distribution strategy may be necessary. Normally, the issue of out of stock must be attacked with one eye on
marketing and promotional activities, and with the other eye on supply chain and logistics. What looks like a
logistical problem could actually be a promotional problem

Popularize the brand image: The types of stores in which a product is sold can shape and reinforce a
consumer's image of that brand. For example, a premium brand of frozen meat and fish may choose to be
distributed exclusively in high-end retail stores. In contrast, a brand targeting the mass market can seek
distribution in every channel and every corner of the economy.

Confront with competitors: If a manufacturer knows that a major competitor is planning to massively
expand its online presence and direct-to-consumer business, they may actively expand direct-to-consumer
distribution as a deterrent or delay tactic to curtail competitor action.

HUMAN RESOURCES POLICY

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Grofresh Agrofoods Private Limited

Human Resources policies in the GROFRESH AGROFOODS PRIVATE LIMITED often address several key
areas to ensure effective management and employee satisfaction.

Here are some HR policies:

1. Recruitment and Retention: Attracting and retaining skilled employees is crucial. GROFRESH often
offer competitive salaries, benefits, and career development opportunities to keep their workforce engaged.

2. Training and Development: Continuous training programs help employees stay updated with the latest
industry practices and technologies. This includes onboarding new employees and providing ongoing skill
development.

3. Performance Management: Regular performance evaluations help in identifying areas for improvement
and recognizing employee achievements. This can include setting clear performance goals and providing
constructive feedback.

4. Employee Relations: Maintaining positive employee relations is essential. This can involve open
communication channels, grievance handling mechanisms, and fostering a supportive work environment.

5. Workplace Safety: Ensuring a safe working environment is a top priority. This includes adhering to safety
regulations, providing proper training on safety protocols, and maintaining equipment to prevent accidents.

6. Compensation and Benefits: Offering competitive compensation packages and benefits such as health
insurance, retirement plans, and paid time off can help attract and retain talent.

7. Work-Life Balance: Policies that promote work-life balance, such as flexible working hours and remote
work options, can improve employee satisfaction and productivity.

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Grofresh Agrofoods Private Limited

Corporate Social Responsibilities of Company

Refresh Agrifoods Pvt Ltd , strongly believe in the philosophy of “Vasudha Iva Kutumba am” which implies
that all the living beings on this planet, cutting across the boundaries, castes, creeds, religions, genders are one
large family. Being a corporate citizen, we are dutiful and committed to pledge ourselves for the welfare of
this large family. Refresh Agrifoods Pvt Ltd has developed a thoughtful comprehensive approach to corporate
citizenship that aligns with our philosophy and maximizes the impact we can make as an enterprise. We focus
on general enhancement of the social indicators of the society including but not limited to the education,
health, environment, and equality.

Education: Promoting education and activities related thereto which may include, without limitation, funding,
promoting, and contributing towards setting up and running and enhancement of schools, academic
institutions, and other learning forums. To foster life-long learning opportunities through streamlined
initiatives that cut pathways across education [access], skills/employability [inclusion], and employment
[equity and quality].

Health: Refresh Agrifoods Pvt Ltd believes in smart healthcare approach with reliance on technology, data,
and expertise to transform and improve basic healthcare, sanitation, safe and clean drinking water, building
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Grofresh Agrofoods Private Limited
health infrastructure in order to enhance access to all the population.

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Grofresh Agrofoods Private Limited

Environment: At Refresh Agrifoods Pvt Ltd we are committed to make a better world of living, ensuring
environmental sustainability, ecological balance, and various programs to create awareness and educate the
population to protect environment.

Rural Development: Promoting, undertaking, or funding various programs and initiatives for the
development of rural areas which shall include without limitation, building basic infrastructure in rural areas
to enhance the quality of living.

Equality: Promoting, undertaking, or funding various programs to eradicate extreme inequalities, particularly
gender inequalities.

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Grofresh Agrofoods Private Limited

Awards, Achievements and Certificates

At Refresh Agrifoods Pvt Ltd, we believe that we are only as good as our last consignment and our last
client. Over the years, our commitment to provide unique solutions has won us many delas of reputed clients

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Grofresh Agrofoods Private Limited

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Grofresh Agrofoods Private Limited

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Grofresh Agrofoods Private Limited

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Grofresh Agrofoods Private Limited

CHAPTER -2
FINANCIAL STATEMENT AND MARKET ANALYSIS
Chapter mainly concentrates on analysis of financial statement and interpreting the financial analysis is used
to evaluate economic trends, set financial policy, build long-term for business activity, and identify projects
or companies for investment. Companies use to balance sheet, income statement, and cash flow statement to
manage the operations of her business and also to provide transparency to their stakeholders. All three
statements are interconnected and create different views of a company's activities and performance.

Incorporate finance, the analysis is conducted internally by the accounting department and shared with
management in order to improve business decision making. This type of internal analysis may include ratios
such as net present value (NPV) and internal rate of return (IRR) so find projects worth executing.

Many companies extend credit to their customers. As a result, the cash receipt from sales may be delayed for
a period of time. For companies with large receivable balances, it is useful to track days sales outstanding
(DSO), which helps the company identify the length of time it takes to turn a credit sale into cash. The average
collection period is an important aspect of a company's overall cash conversion cycle.

The balance sheets and the profit and loss accounts of the company are analyzed and a ratio analysis for the
same has to be done and the results are to be interpreted.

Balance sheet and profit and loss accounts of three years are compared and a ratio analysis has to be done.

Financial statements are prepared for the purpose of presenting a periodical review of a report and progress
by the management and deal with the status of the investment in the business and the result achieved during
the period under review they reflect a combination of records facts. powerful tools of financial analysis, where
ratios are used as yard sticks for evaluating the financial condition and performance of the firm. Analysis and
interpretation of various accounting ratios gives a clear study and a better understanding of the financial position
of the firm. The financial statement analysis is done in reference with the Income Statement and Balance Sheet as
provided.

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Grofresh Agrofoods Private Limited

Statement of Profit and loss for the Year ended 31st March 2024

PARTICULARS AMOUNT

INCOME:

Revenue from operations 2,67,194.44

Other Income 8,957.22

TOTAL INCOME 2,76,151.06

EXPENSE:

Cost of materials consumed 1,60,406.55

Changes in inventories of finished goods, work in progress and

(29,639.52)
stock in trade

Employee benefits expense 11,622.90

Finance cost
24,625.02

Depreciation and amortization expense 18,306.60

Other administrative and operating expenses 77,310.83

TOTAL EXPENSE 2,70,632.46

Profit before exceptional and extraordinary items and tax 5,519.20

Exceptional items -

Profit before Extraordinary items and tax 5,519.20

Extraordinary items -

Profit before tax 5,519.20

Tax expense:

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Grofresh Agrofoods Private Limited

Current tax expense for the year 1,654.83

Deferred tax charge (credit) (661.34)

Profit/(Loss) for the period from continuing operations 4,525.71

Profit/loss from the discounting operations -

Tax expense of discounting operations -

Profit (Loss) for the period 4,525.71

Earnings per equity share:

Basic EPS(in RS) 28.84

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Grofresh Agrofoods Private Limited

Statement of Profit and loss for the Year ended 31st March 2023

PARTICULARS AMOUNT

INCOME:

Revenue from operations 1,37,199.67

Other Income 258.74

TOTAL INCOME 1,37,458.41

EXPENSE:

Cost of materials consumed 1,44,746.87

Changes in inventories of finished goods, work in progress and

(57,033.60)
stock in trade

Employee benefits expense 6,151.19

Finance cost
4,606.33

Depreciation and amortization expense 6,555.70

Other administrative and operating expenses 28,617.48

TOTAL EXPENSE 1,33,643.96

Profit before exceptional and extraordinary items and tax 3,814.45

Exceptional items -

Profit before Extraordinary items and tax 3,814.45

Extraordinary items -

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Grofresh Agrofoods Private Limited

Profit before tax 3,814.45

Tax expense:

Current tax expense for the year 728.80

Deferred tax charge (credit) (20.16)

Profit/(Loss) for the period from continuing operations 3,105.81

Profit/loss from the discounting operations -

Tax expense of discounting operations -

Profit (Loss) for the period 3,105.81

Earnings per equity share:

Basic EPS(in RS) 19.79

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Grofresh Agrofoods Private Limited

Balance Sheet as on 31st March 2024

SL NO PARTICULARS 2023 2024

I. ASSETS

1) Non-Current Assets

a) Property, plant and equipment

and Intangibles

Property, plant and equipment 91,959.86 46,679.61

Capital Work in Progress 28,631.20 75,407.22

Deferred tax assets(Net) 722.18 60.84

Long term loans and advances 45,772.54 41,781.26

Other Non-Current Assets 6,538.53 5,349.33

2) Current Assets

a) Inventories 93,877.98 62,358.63

b) Trade receivables 70,102.36

24,137.19

c) Cash and Cash Equivalents 8,857.38 18,787.77

d) Short-term loans and advances 16,344.86 17,600.16

TOTAL – ASSETS 3,62,788.88 2,92,162.01

II. EQUITY AND LIABILITIES

1) Shareholders fund

Equity share capital 21,590.05 22,795.41

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Grofresh Agrofoods Private Limited

Reserves and surplus 42,273.62 62,145.75

2) LIABILITIES

N n-current Liabilities

Long term Borrowings 1,27,265.44 1,15,995.60

Other long term Liabilities -

Current Liabilities

Short term borrowings 89,080.23 69,751.25

Trade payables 28,837.05 17,867.62

Other current liabilities 7,620.81 2,026.62

Short term provisions 2,766.06 1,579.76

Total Liabilities 3,62,788.88 2,92,162.01

RATIO ANALYSIS

Ratio analysis is a quantitative method of gaining insight into a company's liquidity, operational efficiency,
and profitability by comparing information contained in its financial statements. Ratio analysis is a cornerstone
of fundamental analysis. Outside analysts use several types of ratios to assess companies, while corporate
insiders rely on them less because of their access to more detailed operational data about a company.

1 CURRENT RATIO: The current ratio is a company’s ability to pay short term obligations or those due
within one year is measured by the current ratio. It tells investors and analysts how a company can maximize
its assets on its balance Ideal current Ratio is 2:1.

Current ratio=Current assets/Current liabilities

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Grofresh Agrofoods Private Limited

From the above table and chart indicate that has sufficient liquid assets to satisfy its short-term obligations.
The quick ratio of the is more than 1 in each above- mentioned year. In 2022, its quick ratio is more than 3. It
is a high and quick ratio, is not a good sign because the company is resting on a significant amount of cash.
This cash could be better invested in business or investment schemes to earn interest / return.

2.QUICK RATIO:

The quick ratio is an indicator of company’s ability to meet its short-term obligations with its most liquid
assets. The acid test ratio is the ability of a company instantly use its near cash assets to pay down its current
liabilities. A quick test is called an acid test and is a term used to describe it.

Quick Ratio= Quick Assets/Current Liabilities Quick Assets=Current Assets- Inventories

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Grofresh Agrofoods Private Limited

From the above table and chart, it indicates that the company has sufficient liquid assets to satisfy its short-
term obligations. The quick ratio of the is more than 1 in each above- mentioned year. In 2022, its quick ratio
is more than 3. It is a high and quick ratio, is not a good sign because the company is resting on a significant
amount of cash. This cash could be better invested in business or investment schemes to earn interest / return.

3 CASH RATIO:

A company total cash and cash equivalents to its current liabilities is known as cash ratio. The metric looks at
the company’s ability to repay its short-term 2020 debt with cash or near cash resources. This information
useful to the creditor when they decided how much money lend a company.

The cash ratio is almost like an indicator of firm’s value. The value of current assets that could be turned into
cash and the percentage of the company’s current liabilities that could be covered by cash and near cash assets.
that could be covered by cash and near cash assets.

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Grofresh Agrofoods Private Limited

Interpretation: From the above table and chart indicate that the cash ratio is greater than 1, the company can
cover all short-term debt and still have cash on hand. In 2020, the cash ratio is less compared to the above-
mentioned year. It shows that the company has a near amount of current liabilities as the company cash and
cash equivalents. In 2022, the cash ratio is high. It shows that a company is not able to be used for profit able
active.

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Grofresh Agrofoods Private Limited

MARKETING MIX / MARKETING STRATEGIES

Refresh Agrifoods Private Limited's marketing mix, often referred to as the 7Ps (Product, Price, Place,
Promotion, People, Physical Evidence), as follows:

8. Product: Refresh offers a wide range of high-quality, freshly frozen fruits and vegetables. Their products
are known for retaining natural texture and nutritional value, processed within hours of harvesting. They
focus on convenience, offering ready-to-eat products that require minimal preparation. The company’s
strong emphasis on technology and innovation helps in providing a seamless and efficient trading
experience, thereby enhancing customer satisfaction and loyalty.

9. Price: While specific pricing details are not publicly available, Refresh likely adopts a competitive pricing
strategy to attract health-conscious consumers looking for convenient, nutritious food options. Their
pricing would reflect the quality and freshness of their products. The company also offers various pricing
plans, including flat fee models and percentage-based fees, giving customers the flexibility to choose a
plan that best suits their trading habits and investment needs

10. Place: Refresh distributes its products both locally and internationally. They source raw materials from
farms within a 40 km radius of their production plants, ensuring freshness and quality1. Their products are

50
Grofresh Agrofoods Private Limited

available in various regions in Asia and Europe, making them a global player in the frozen foods industry.
The company’s digital platforms are user-friendly and equipped with advanced features, enabling
customers to trade and manage their investments seamlessly from anywhere.

11. Promotion: Refresh uses a combination of traditional and digital marketing strategies to promote their
products. They emphasize their commitment to quality, freshness, and sustainability in their promotional
campaigns. Their website and social media platforms are likely used to engage with customers and
showcase their product offerings. These promotional activities are aimed at building brand awareness,
enhancing customer engagement, and ultimately driving customer acquisition and retention.

12. People: The success of Refresh is largely attributed to its dedicated and skilled workforce. The company
invests in regular training and development programs to ensure that its employees are well-versed with the
latest market trends, financial products, and customer service techniques. This focus on employee
development helps in maintaining high standards of service quality and customer satisfaction.
Additionally, Refresh Agrifoods places a strong emphasis on building a customer-centric culture, where
the needs and preferences of customers are prioritized in all business operations.

13. Process: Refresh places a strong emphasis on streamlining its processes to enhance efficiency and
customer satisfaction. The company uses advanced technology to automate trading and back-office
operations, ensuring quick and error-free transactions. Customer onboarding processes are simplified to
provide a hassle-free experience for new clients. Moreover, Refresh continuously monitors and updates its
processes to adapt to changing market conditions and regulatory requirements, ensuring compliance and
operational excellence.

14. Physical Evidence: Physical evidence in Refresh Agrifoods Private Limited encompasses various tangible
aspects that customers encounter. This includes high-quality and visually appealing packaging designed
to preserve the freshness and quality of their frozen fruits and vegetables. The actual products themselves
are processed within hours of harvesting, ensuring they retain their natural texture and nutritional value.
Consistent and professional branding on their products and promotional materials helps build trust and
recognition among consumers.

51
Grofresh Agrofoods Private Limited

DISTRIBUTION POLICY / CHANNELS

Refresh Agrifoods Private Limited utilizes a robust distribution network to ensure their products are widely
available. They distribute their frozen fruits and vegetables both locally and internationally. Locally, they
supply major quantities to fruit processors and fresh fruit exporters across India. Internationally, they have
expanded their reach to various regions in Asia and Europe. Their advanced logistics and warehousing
capabilities enable efficient distribution, ensuring that consumers can access their products easily.

Opening up new markets: Opening up a new distribution channel or expanding distribution into new
geographical areas can give new groups or new types of consumers access to our products or services of the
company.

Speed up delivery: Faster delivery of a product or service is sometimes an advantage when dealing with
frozen goods. Delivery speed combined with a direct-to-consumer business model can together create a new
distribution strategy.

Reduce costs: If a new distribution system or logistics services are improved can significantly reduce costs
and improve profit margins, it is well worth pursuing. For example: If a retailer is operating a very costly

52
Grofresh Agrofoods Private Limited

store/branch distribution system, they can benefit by moving part of their sales to an online distribution system
to save premises free, direct sales staff, etc.

Reducing out of stock: If retail out of stock is a major issue in an industry or product category, a new
distribution strategy may be necessary. Normally, the issue of out of stock must be attacked with one eye on
marketing and promotional activities, and with the other eye on supply chain and logistics. What looks like a
logistical problem could actually be a promotional problem

Popularize the brand image: The types of stores in which a product is sold can shape and reinforce a
consumer's image of that brand. For example, a premium brand of frozen meat and fish may choose to be
distributed exclusively in high-end retail stores. In contrast, a brand targeting the mass market can seek
distribution in every channel and every corner of the economy.

Confront with competitors: er knows that a major competitor is planning to massively expand its online
presence and direct-to-consumer business, they may actively expand direct-to-consumer distribution as a
deterrent or delay tactic to curtail competitor action.

53
Grofresh Agrofoods Private Limited

CHAPTER-3
MANAGEMENT AND LEADERSHIP
+

According to available information, the organizational hierarchy at Gro fresh Agrifoods Private Limited
appears to be led by Managing Director Srinivasa Naik N, with key personnel including sourcing heads,
factory managers, and food technologists reporting to him, likely with a structure that includes departments
for operations, sourcing, quality control, sales, and marketing.

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Grofresh Agrofoods Private Limited

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Grofresh Agrofoods Private Limited

DEPARTMENTS

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 Grofresh Agrofoods Private Limited
HUMAN RESOURCES:

Refresh Agrifoods is responsible for managing the recruitment, development, and well-being of employees. It
ensures that the company attracts top talent, fosters employee engagement, and provides ongoing training and
development opportunities. HR is also responsible for performance management, ensuring that employees are
aligned with company goals and receive competitive compensation and benefits packages.

PROCUREMENT DEPARTMENT:

A procurement department is an essential division within an organization responsible for acquiring the goods
and services needed for its operations. This department's core activities include sourcing suppliers, negotiating
contracts, managing supplier relationships, ensuring compliance with company policies, and overseeing
inventory levels .The procurement department ensures that the organization obtains high-quality products at
competitive prices, thereby supporting its long-term goals and objectives.

MARKETING DEPARTMENT:

A marketing department plays a pivotal role in an organization, responsible for creating and implementing
strategies to promote products or services and attract customers. This department focuses on market research
to understand consumer needs, preferences, and trends, which helps in developing effective marketing
campaigns. Additionally, the marketing team manages advertising, public relations, social media, and content
creation to build brand awareness and enhance the company's reputation.

PRODUCTION DEPARTMENT:

Oversees the manufacturing of products, ensuring that production processes are efficient, cost-effective, and
meet the company’s high-quality standards. This department is responsible for managing daily manufacturing
operations, including capacity planning to meet demand, controlling production costs, and ensuring the safety
and compliance of manufacturing practices. The goal is to deliver products on time without compromising
quality.

ACCOUNTING/FINANCE DEPARTMENT:

Plays a crucial role in managing the company’s financial health. It is responsible for preparing financial
statements, managing budgets, and forecasting financial performance. This department ensures compliance with
tax regulations, oversees internal controls and auditing functions, and manages accounts payable and
receivable. By providing accurate financial information, it

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 Grofresh Agrofoods Private Limited

CHAPTER-4

SWOT ANALYSIS
SWOT Analysis states the organizational strengths, weakness, opportunities, and threats. Strength weakness
pertain to the internal configuration and while opportunities and threats belong to external configuration. A
focus on the company internal environment helps in understanding its capacity weakness and important
consideration in its activities and actions for efficiency and sustainability. A critical analysis of the environment
with which the company operates, reveals the following core strength, weakness, opportunities, threats.

STRENGTHS:

The increasing popularity of frozen foods

The demand for products that may be conveniently and quickly prepared, such as frozen meals, is rising as
more and more people lead hectic lifestyles. People are more likely to spend money on convenience goods
while adding nutritional value to their daily diet. With more and more women leaving the traditional kitchen
roles and taking the corporate world with a breeze, the lesser the time it takes to prepare a meal the more it is
preferred. This market has tremendous growth opportunities and will evolve with time.

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Grofresh Agrofoods Private Limited

Consumers evolving eating and lifestyle habits

The demand for frozen ready meals is rising due to rapid urbanization and changing consumer lifestyles. The
boost in convenience, availability, affordability and accessibility of frozen-ready meals makes it an excellent
choice for satisfying customers’ daily nutritional needs quickly.

High nutritional value

Not many of you are well versed in the benefits of a well-known method of food preservation – “Freezing”.
Utilizing artificial preservatives traditionally v/s modern quick-freezing techniques locks the nutritional value
of the food. Additionally, food that is kept and frozen right away avoids loss of nutrition. In terms of calories,
frozen fruits and vegetables have the same nutritional value as compared to fresh foods. With no extra
potassium added as a preservative, frozen food becomes an apt choice for quick food solutions.

It saves you time and money

With a massive number of supermarkets and stores housing frozen food items, you can buy and consume
frozen food on the go making it so convenient and ideal for people looking for a healthy quick meal. Over and
above that, it also assists you in portion control and resisting you the urge to overeat at a restaurant. Helping
you save money and time; frozen foods have turned their coins towards health as well as variety.

Encourages less food wastage

Frozen meals can aid in reducing food waste. Food wastage at home or at the workplace can be considerably
minimized by only preparing what is required for the meal at hand and re-freezing the rest for future use.

WEAKNESS

Allergenic components in frozen meals

It is recommended to watch for some particular ingredients, especially if you know you are allergic to some.
When someone suffers from a food allergy, their immune system responds to particular foods, which can lead
to minor skin problems or discomfort with hypertension. It is a good habit to run your eyes through the
ingredients list on every frozen food package before making a purchase.

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Grofresh Agrofoods Private Limited

Some frozen foods contain hazardous preservatives.

Not all frozen foods have preservatives, but sadly some do. To enhance the shelf life of the consumable, some
frozen food brands add harmful preservatives which can affect our health badly. These preservatives have the
potential to not only cause serious health problems in some people but also can attract fetal diseases. Thrive
for products that claim they do not add preservatives for a healthier choice.

Compromised taste compared to freshly cooked food

The flavor of freshly cooked food may not always be the same when it’s frozen. The traditional notion is that
major food producers are also responsible for diminishing the taste of processed frozen foods as they tend to
prepare them in large batches, which at times compromises taste.

OPPORTUNITY

Digitalization of the retail industry

Two of the most recent trends propelling the frozen food sector are online grocery shopping and the launch of
new apps that make it simple for users to select their desired products. Consumers are more inclined to shop
as a result of benefits like convenience, choice, and product information online.

The frozen foods market is growing by leaps and bounds

The global frozen food market has been expanding steadily in recent years due to numerous factors, including
the ability to save money, prepare meals quickly, spend less time in the kitchen, and avoid food wastage.

Wide variety to choose from in frozen food products

Due to the rising demand for frozen food, the frozen food sector, which first just offered basic frozen veggies
and fries, now provides a wider range of products like fully packed wholesome frozen meals. Over and above
this to satisfy your 5 pm cravings they also have also stepped into healthy snack items to keep your tummy
happy till dinner time.

THREATS

High-stakes competition

There has been a fierce rivalry in the frozen food business as a result of the rising demand for frozen meals.
To maintain its market and boost sales, the business must assure not only quality but innovation to keep its
consumers griped and longing for more.

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Grofresh Agrofoods Private Limited

Heavy raw materials investment

Prices for raw goods like flour, vegetable oil, and uncooked vegetables have increased significantly. Such
heavy investments in raw materials put price pressure on the total annual expenses of an organization. In order
to balance this cash outflow, organizations then tend to lower costs in packaging or employees.

Increasing health consciousness

Globally, especially in developing countries, health awareness is taking a whole new meaning compared to
traditional thinking, which may lead to a decrease in the consumption of frozen and fast foods. Knowledge is
power and being informed about some frozen foods myths and facts will turn tables for the frozen foods
market.

MC KINSEY’S 7S FRAMEWORK

The MC-KINSEY 7S framework is a management model developed by well-known business consultants

Robert H. waterman, Jr. and Tom peters (who also developed the MBWA (Management by Walking Around)
motif, and authored in search of excellence) in the 1980s.

This was a strategic vision for groups, to include businesses, business units, and teams. The 7s are Structure,
Strategy, Systems, Style, Staff and Shared Values. The model is most often used as an organizational
analysis tool to assess and monitor changes in the internal situation of an organization.

The Mc Kinsey model describes how to organize the organization in a holistic and effective way. The 7s are
collectively all these factors determine the way how organization operates to achieve its goals.

The Mc Kinsey 7s model involves seven interdependent factors which are categorized as either "Hard" or
"Soft" elements:

Hard Elements are easier to define or identify and management can directly influence them, they are Strategy
statements, organization charts and reporting lines, and formal processes and IT systems.

Soft Elements on the other hand, can be more difficult to describe, and are less tangible and more influenced
by culture. However, these soft elements are as important as the hard elements if the organization is going to
be success.

7s are categorized into Hard and Soft skills Hard components: Strategy, Structure & System. Soft components:
Skill, Staff & Shared values.

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• STAFF

This includes the workforce needed to operate production lines, logistics, R&D, marketing, and distribution.
Frozen food companies depend on skilled workers and talent development.

Examples:

Hiring skilled workers in production or supply chain management.

Investing in training for employees to adopt new technologies.

Ensuring diverse skill sets to meet technological and operational needs.

GROFRESH comprises of both skilled and semi-skilled employees. Refresh procures through interviews
conducted by the highly qualified interviews. It not only emphasizes on the physical of its staff, but in the total
contribution of the staff to the firm. It encourages its staffs to be more innovative and creative at the job rather
than working on a regular basis. There is a high concern for individual efficiency and also the overall
effectiveness of the staff. The labor force is seen as critical investment. Employees are treated as the resources
of the Cuspate evaluates the performance of the worker and rewards them every year many workers are
rewarded for their main performance these helps to make the staff more committed to the organization.

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• SKILLS

The agrifood industry requires specialized skills, such as food production expertise, supply chain management
capabilities, technology knowledge, and consumer trend analysis.

Examples:

Employees skilled in food preservation techniques.

Technology specialists focusing on freezing innovations.

Marketing teams experienced in identifying consumer preferences.

The skill where all the organization required highly skills labors in their organization. Advik Naturals after
their selection of new employees for the manufacturing process they are giving a training to them how to work
in the work place. The supporting and the production team, the most thing as thing where they both have good
communication, leadership, administration, 6 sigma implementation, time management, , personal skills,
inventory management, statutory rules, team building, values engineering, TQC, statistical quality program,
auditing and so on.

Art Work this is the most important, dispatch, purchase, store keeping, quality control, and I as mentioned in
the work flow it having separate department in each stage of the production.

• SYSTEMS

These include the processes and technologies that enable day-to-day operations, such as inventory
management, quality assurance, and logistics.

Examples:

Advanced cold chain logistics to ensure product quality.

Inventory management systems to optimize supply.

ERP (Enterprise Resource Planning) systems to streamline production.

GROFRESH is having multi-layer system, human resources and production department is very close to all
the low-level management worker, they are very concern of the know there wants and requirement to balance
between the work and personal life and they will inform to higher authority about their required. GRO FRESH
is having a system of the company will be twenty-four-hour production is going and having Shift Wise working
hours.

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• STRATEGY

Refresh agrifood companies' strategy could focus on innovation, market expansion, or supply chain
optimization.

Examples:

Diversifying product offerings (e.g., healthy or organic frozen meals).

Expanding into emerging market

Strengthening partnerships with retailers or e-commerce platforms.

Focusing on sustainability (e.g., eco-friendly packaging).

Strategy means where if company want to sustain in the market means it will have its own strategy according
to their availability and requirement. All the department form their strategy to reach the vision and mission of
the organization. The strategy where all the employee and employees should work together to achieve the
framed strategy. The strategy is integrating the activities of the organization and allocating the resources to
meet the objectives. It’s important to consider all the decision because it affects the everyone in the
organization it can directly or indirectly form. While framing strategy it’s important to they have to match
with culture if not means it’s hard to survive in the market.

• STYLE

Leadership style influences company performance in this industry. Styles could range from innovative and
agile decision-making to structured, hierarchical operations.

Examples:

Collaborative leadership that encourages cross-functional teams.

Agility in responding to changing consumer demands or market trends.

GROFRESH is following democratic, autocratic according to the situation they will apply. The are concern
of each employee in the organization. They are encouraging employees to get involved in the work actively.
The are having rewards for the performing well in the work to encourage them to give their best in the work.
For having any style, the major factor is the communication between all the level in the organization. The style
is how they explain about behave, communication, ethics, and so on. GRO FRESH is having good concern of
the employees there needs and wants.

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• STRUCTURE

The organizational structure within the frozen food industry typically involves supply chain networks,
production units, distribution partnerships, and retail channels.

Examples:

Centralized supply chain management to maintain quality standards.

Collaboration with distributors and retailers to ensure availability in key markets.

Managing R&D, production, and marketing departments effectively.

The flow of the work from one employee to another employee and how there are interlinked together to reach
the vision and mission. The GRO FRESHAGRO FOOD PRIVATE LTD is having total of 200 workers in
the organization.

GRO FRESH is structure can be viewed into category like:

I. Production

II. Human resources

III. Accounting

IV. Marketing

GROFRESH is having many subs department in the production department they are: Art Work this is the
most important, dispatch, purchase, store keeping, quality control, and I as mentioned in the work flow it
having separate department in each stage of the production.

PORTERS FIVE FORCE MODEL

Porters force model of Michael porter is a very elaborate concept for evaluating company's competitive
position, Michael porter provided a framework that models an industry and therefore implicitly also businesses
as being influenced by five forces. Michael porter's Five Force models is often used in strategic planning,
porter's competitive five force model is probably one of the most commonly used business strategy tools and
has proven its usefulness in numerous s situations when exploring strategic management models.

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PORTER'S FIVE FORCES INCLUDE:

1. Three forces from "Horizontal competition"

• Threat of new entrants

• Threat from substitute product

• Threat of established rivals or competitive rivalry

2. Two forces from "vertical competition"

• The bargaining power of buyers

• The bargaining power of suppliers

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1. Threat of New Entry

This force analyses the ability to enter a market by new entrants. They will add new capacity to market and
therefore drive down prices. If it's easy to enter a new market will depend on the market barriers, for example
the need of "economic of scale" brand loyalty by customers, or extensive knowledge on a product or service,
but also capital requirement or government policies.

Barriers to Entry:

Capital Requirements: Moderate; setting up production facilities and maintaining cold storage involves
significant investment.

Economies of Scale: Large existing players benefit from cost efficiencies, making it harder for new entrants.

Brand Loyalty: Established brands hold consumer trust, creating a barrier for newcomers.

Opportunities for Entrants: Growth in health-conscious or organic frozen food niches could offer entry
points.

Overall Impact: Medium. Established players have an advantage, but niche markets provide opportunities
for new entrants.

2. Threat of substitute products

This force analyses the possibility of the replacement of a product or service in the market by an alternative
that isn't equal by fulfils the same functions. Substitution can have a big impact on a market and will have a
huge profitability impact and should therefore be considered when evaluating the attractiveness of an industry.
It includes

Substitutes: High. Fresh food, ready-to-eat meals, and delivery services act as substitutes.

Convenience vs. Quality: Frozen food is convenient, but fresh and ready-to-eat options are perceived as
healthier.

Overall Impact: High. Substitutes significantly challenge the frozen food industry, especially in urban
markets.

3. Competitive rivalry

The rivalry between existing competitors is examined by how many existing competitors there are in a market
and what their capability are rivalry is high in a market with competitors that are approximately of the same
size and their offering is roughly the same.

Competitors: The market includes global giants (e.g., Nestlé, Conagra) and regional players.
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Differentiation: Companies compete on price, product variety, innovation (e.g., plant-based options), and
marketing.

Growth Rate: Moderate growth, especially in health-focused segments, adds to the rivalry.

Overall Impact: High. Intense competition forces constant innovation and price competitiveness.

4. Bargaining power of buyers

This force analyses the power buyers have over suppliers and therefore the company to influence the market
prices. When there are a limited number of buyers and many suppliers in the market, they will have more
buying power. It means that the buyers can easily switch to an alternative.

Availability of Alternatives: High. Consumers have many choices, including competing brands and fresh
food options.

Price Sensitivity: Significant. Many consumers prioritize price over brand loyalty, particularly in budget-
conscious markets.

Trends: Growing demand for health-conscious frozen foods could empower buyers to demand higher quality
or innovation.

Overall Impact: High. Buyers have substantial power due to numerous options and price sensitivity.

5. Bargaining power of suppliers:

This force analyses the power and control that a supplier has to (potentially) raise its prices or to reduce the
quality of products or services. Important factors that play a role are the availability of substitute and the
concentration of suppliers. The less suppliers the more power to control the market other Factors include
switching costs, the availability of substitutes, the strength of their distribution channels, and the differentiation
in the product or service. It indicates:

Suppliers' Dependency: Many suppliers of raw materials (vegetables, fruits, packaging) exist, reducing their
individual power.

Suppliers of specialized ingredients (organic, gluten-free, etc.) may have higher bargaining power.

Switching Costs: Low for basic materials but higher for specialized ingredients.

Overall Impact: Low to Moderate. Standard suppliers have limited power, but niche ingredient suppliers hold
some influence.

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CHAPTER – 05

FINDINGS , SUGGESTIONS

AND CONCLUSIONS

FINDINGS

• Management is very much concerned for the workers welfare.

• Staff and workers were fully involved in their work during shift hours.

• Different welfare programs are conducted in different departments.

• They maintain good safety measures to their employees as well as as for the for the
workers in the organization under the program.

• The cash ratio level is increased in the year 2023.

• The quick ratio level increased in the year 2023.

• Evaluate the existing quality control process are their regular inspections and quality check.

• There was the good quality of production.

SUGGESTION:

• I would suggest the company to invest in digital inventory management system to optimize stock level
and prevent stock outs.

• Establish strategic partnership with reliable suppliers to ensure constant quality and timely deliveries.

• Streamline logistics process to improve transparency, commutation, and overall efficiency.

• Conduct regular performance reviews of suppliers to addresses an issue and drive continuous
improvement.

• I would suggest the company to invest in workforce training to enhance skill, boost productivity and
streamline operations.

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CONCLUSION

It has been great opportunity for me to carry out the study of an organization at GROFRESH AGROFOODS
PRIVATE LIMITED it has helped to a great extent to have an insight in to the practical realities of the
organization study. I have done my best effort for completion of my organization study.

GROFRESH AGROFOODS is a prominent manufacturer in the Frozen food industry, known for its high-
quality products and commitment to innovation. Their commitment to delivering fresh, nutritious products
and expanding their global reach highlights their potential for continued growth.

The internship at Gro fresh Agro foods has solidified my interest in pursuing a career in finance. The practical
experience and skills acquired during this period have equipped me with the confidence and competence to
take on more significant roles in the future.

my internship at Grofresh Agrofoods was a highly rewarding experience that provided me with invaluable
insights into the financial industry. The knowledge, skills, and professional connections I gained during this
period have laid a strong foundation for my future career. I am grateful for the opportunity to learn from
industry experts and contribute to meaningful projects. This internship has undoubtedly been a pivotal step in
my professional journey, and I look forward to applying the lessons learned to achieve my career aspirations.

LEARNING EXPERIENCE

I have undertaken in organization study at GROFRESH AGROFOOD PRIVATE LIMITED. I have a good
experience in GROFRESH manufacturing. It is great experience of interaction with the company workers and
going through the company's information as given rich experience of GROFRESH Pvt Ltd. And it has given
me a practical knowledge about the overall functioning of organization. It has given me an opportunity to
study the human behaviour and also makes me ready to face different situations, which would normally come
across while in the office environment.

Due to study that I conducted in the company allowed me to learn the basics of my education and turning
those aspects into reality. The organization study period i.e., 4 weeks made me to Judge whether I can adjust
to the corporate environment or not.

It helped to familiarize organization structure and its functioning. It helped to familiarize with different
departments in the organization and their functions and activities including documents. The study helped me
to understand how the key business processes are carried out in an organization and how information is used
in organization for decision making at various levels. This also enhance the personality traits of the trainee
such as communication, interviewing, observation, report writing, business discussion etc.

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I was able to utilize and engage the knowledge and skills gained in my academics in a more practical approach
at GROFRESH AGROFOODS PRIVATE LIMITED. for example, application of SWOT analysis and
application of McKinsey's 7S frame work & porter's five force model. The guidance, support, feedback and
Useful suggestion provided by my Project guide Mr. PUNEET helped me to successfully complete this
internship.

Organization study was good experience for me to understand the various department and how their function
will happen in the department. And organization study will help me to improve the communication skill.

BIBILOGRAPHY:

https://grofreshagro.com/

https://www.indiamart.com/grofreshagrofoods/

https://www.ingredientsnetwork.com/grofresh-agrofoods-pvt-ltd-comp306491.html

https://unstop.com/c/grofresh-agrofoods-private-limited

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