Neets Project v Guard

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AN ORGANIZATIONAL STUDY AT

V –GUARD INDUSTRIES LTD

A Project report submitted in partial fulfilment of requirement for the

award of degree of Master of Business Administration

of University of Kerala

Submitted by

NEETHA.K

Reg. No. MGT 1005364 UNDER THE GUIDANCE OF Mr. MANOJ KRISHNAN C.G CO-ORDINATOR, IMK ADOOR

INSTITUTE OF MANAGEMENT IN KERALA ADOOR

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DECLARATION

I declare that the project report entitled ―AN ORGANISATIONAL STUDY AT V- GUARD INDUTRIES‖ submitted by me for the award of the degree of Master of Business Administration of the University of Kerala is my own work. The report has not been submitted for the award of any other degree, diploma, fellowship or any other similar title or prizes and that the work as such has not been published in any journal or magazine.

Place: ADOOR NEETHA K Date: MGT 1005364

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ACKNOWLEDGEMENT

I am deeply indebted to Dr. K.S. Chandrasekhar, Head, IMK for his valuable suggestions and for giving me an over view on how to do the project.

Words can hardly express my gratitude to Mr. John, Hr manager, V GUARD for the valuable guidance and assistance in completing the work successfully.

I wish to express my heartfelt thanks to Mr. Manoj Krishnan.C.G, Coordinator, IMK, Adoor granting permission to pursue my project work at V GUARD

I take this opportunity to express my sincere gratitude and thanks to Mrs. SUMA S R Faculty, IMK ADOOR for providing me with adequate materials for doing the project work.

I wish to place on record my gratitude to all others who have directly or indirectly helped me, my parents and my friends for their support.

Place:

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CHAPTER 1

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INTRODUCTION

Organisational study is done in order for the purpose of acquiring practical knowledge of working and functioning of the company. This shows us how the different departments in an organisation work and wins as a single unit. I choose to do my project in v guard industries because it was a company which has created a niche for itself and has been nurtured by quality consciousness, passion for hard work and will to succeed. The period of study was from 25th JULY to 7th AUGUST and was conducted at head office at Vennala.

V GUARD industries being INDIA ‗S prestigious electronically and manufacturing company was established in the year 1977 from the vision of one man KOCHOUSEPH CHITTILAPPILLY. It plays a vital role for the economic development of our country. Their untiring commitment for performance, cutting edge technology, innovative design , dependable service standards have lead to unrivalled product quality and trusted brand image.

V GUARD ‗S product range deals into various ranges of products which cater the requirements of consumer durable industry , agriculture and construction sectors of the country. It has a strong distribution and marketing channel in small towns across India, which helps in tapping the rural and the interior market.

India being aimed to convert her into developed nation has to make developments in all core sectors like infrastructure, power; consumer durables etc. and this in turn augment the growth of the corporate sector of the country as a whole. As the economy is growing in a faster manner , the disposable income of the people are also increasing and most of the population is brought under the spectrum for spending for housing and white goods. The aspiration to own luxury goods is also increasing and this has resulted in a revolution of consumer durables. The company is confident of capitalizing all these factors and increasing market presence across the country with focus on the penetrating the rural markets.

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OBJECTIVES

1. To study about the functions of various departments and hierarchy of the organisation. 2. To know about the capital requirements, financial requirements, technical know- how,

plant machineries, raw materials. 3. To look after employees welfare 4. To contribute towards HRD

5. To know the CSR and quality measure adopted by the organisation.

KEY INDUSTRY REGULATIONS AND POLICIES

The relevant provisions of some of the regulations and policies applicable to us are given below:

The Factories Act, 1948

The Factories Act has been enacted to consolidate and amend the law regulating labour in factories. The Act aims at protecting human beings from being subjected to unduly hours of bodily strain or manual labour. The Act provides that employees should work in healthy and sanitary condition so far as the manufacturing process will allow and that precautions should be taken for their safety and the preventions of accidents.

The Contract (Regulation and Abolition) Act, 1970

The Act applies to every establishment in which 20 or more workmen are employed or were employed on any day of the preceding 12 months as contract labour and to every contractor who employs or who employed on any day of the preceding 12 months 20 or more workmen.

The Environment (Protection) Act, 1986

The Act provides for protection and improvement of environment and for matters connected therewith. The Act aims at prevention of hazards to human beings, other living creatures, plants and property. Under the Act the Central Government shall have the power to take all measures as it deems necessary or expedient for the purpose of protecting and improving the quality of the environment and preventing, controlling and abating environmental pollution.

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The Central Excise Act consolidates and amends the law relating to Central Duties of Excise on goods manufactured or produced in India. Excisable goods under the Act means goods specified in the Schedule to the Central Excise Tariff Act, 1985 as being subject to duty of excise .Under the Act a duty of excise is levied on all excisable goods, which are produced or manufactured in India as, and at the rates, set forth in the First Schedule to the Central Excise Tariff Act, 1985.

The Employees Provident Fund Act, 1952

The Act provides for the institution of Provident Funds, Pension Fund and Deposit-Linked insurance fund for employees in Factories and other Establishments. The Act applies to (a) every establishment which is a factory engaged in any industry specified in Schedule of the Act and in which 20 or more persons are employed and (b) any other establishment which the Central Government by Notification specify giving not less than two months‘ notice of its intention to do so in the Official Gazette. Effective from 01.06.2001, every employee drawing wages and Dearness Allowance up to Rs. 6500/-per month will become eligible for membership from the very first day of his joining the establishment covered under the Act.

The Employees State Insurance Act, 1948

The object of the Employees State Insurance Act 1948 is to provide for certain benefits to employees in case of sickness, maternity and employment injury and to make provisions for certain other matters in relation thereto.. The woman employees also need no longer fear that they would be dismissed or removed from service in case they expect babies. Such female employees not only retain their jobs but they get maternity benefits for a period of twelve week before and after confinement.. Failure to fulfil those obligations exposes an employer to prosecution.

The Payment of Gratuity Act, 1972

The payment of gratuity Act, 1972 was enacted to introduce a scheme for payment of gratuity for certain employees employed in Industrial and commercial establishment as a measure of social security.

Industrial Disputes Act, 1947

The Act was enacted, with the object, interlay, of settlement of industrial disputes and to achieve industrial harmony. The Act contains provisions for reference of industrial disputes and their settlement. In addition,

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the Act has made provisions relating to lay off and retrenchment to establishments to which the Act applies. Special provisions have also been made in respect of lay-off, retrenchment and closure in certain establishments.

Workmen’s Compensation Act, 1923

The act was enacted to provide for the payment of compensation by certain classes of employers to their workmen. The act contains provisions for payment of compensation for personal injury caused by accident or any disease or various kinds of disablement (partial or whole or temporary or permanent etc.), all arising out of or in course of employment.

METHODOLOGY

Research methodology is a systematic analysis of a problem and reach a conclusion. It may be understood as a science of studying how research is done scientifically. The study is done through collecting primary data and secondary data.

1. PRIMARY DATA

Primary data are those data which are directly collected or which are the first hand data.

Primary data are accurate and reliable. These data‘s are collected by interaction of staffs, consumers, interviewing managers.

 Primary data are collected by direct interview with department heads.

2. SECONDARY DATA

Secondary data are those which have been collected by some other person for his purpose. They are usually in shape of finished products. Secondary data consist of catalogue, manuals, magazine, annual reports, and internets. Secondary data are collected by

 Annual reports of V guard industries ltd

 Periodical , books published by the company

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LIMITATIONS

 Limited time schedule for study

 Busy work schedules of the employees forced to depend on secondary data.

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CHAPTER 2 INDUSTRY PROFILE

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INDUSTRY PROFILE

Like every other industrial sector in India , the Indian electronic industry too is slowly emerging from out of its ― protective cover‖ .for far too long has Indian industry remained shackled and consequently inward looking .Over the past fifty years there was no exposure to global players and competition , with the result that the industry grew up in a sheltered environment , each of these interventions was aimed at securing protection for oneself and ensuring growth of one‘s own organisation at the cost of industry and nation at large . Lack of global competition encouraged a ―cost plus‖ approach, where every conceivable cost increase was passed on to the customer .There was thus no motivation to reduce cost.

Since last decade India has witnessed what global players have achieved and what they are capable of achieving .We are becoming aware of competition on our turf. In this scenario, every company complains of increases competition, lower order books and shrinking margins The Indian electrical / electronic industry is of course further besieged by the fact that there is a dearth of business on account of lack of investment in the power infrastructure.

GLOBAL SCENARIO

There is a sizeable potential market for voltage regulators in Asia, South America, Africa and the Middle East since their electrical generations and distribution infrastructure is still nascent. While fluctuation in supply voltage in the United States is about 5 percent, it is around 20 percent in Mexico and South America and 10 to 15 percent in developing nations of Asia. Such fluctuations are very damaging, especially because most applications connected to the supply have many electric components

Countries that lack a basic national power infrastructure generate power for individual establishments on a small scale using crude facilities. Such plants, especially the ones located near mines and oil wells, have substantial need for voltage regulation .The drive to modernize industrial

and telecommunications systems in developing countries has to be backed with investments in voltage regulators to protect the equipment and extend their lives.

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While customers readily invest in uninterruptible power supply (UPS) systems to safeguard against black outs, they seldom feel the need to install voltage regulators because of the invisibility of power fluctuations .This mind set has to be remedied by emphasizing the importance of controlling fluctuations to prevent damage to loads connected to the supply . Greater customer advances about advantages of each voltage regulating technology and the applications they are suited for can also drive demand.

INDIAN SCENARIO

Voltage stabilizer are considered to be a necessity in most parts of India to protect consumer appliances like TV, refrigerators, air conditioners etc as many regions in India face problem of poor quality power supply fluctuation & high voltage. Though some models of these appliances are sold with built in stabilizer, many consumers still prefer to employ stabilizer for complete protection. The total market size for the consumer durables market is about Rs 13600 crore in which CTV is the largest contributor in this segment and the market has been estimated at 15.15 million units in the year 2009-2010

(Source: IMRB international survey – august 2007)

The consumer durable sector has witnessed an overall growth of 27.5%in 2009 compared to the corresponding previous year. The sectors which have recorded excellent growth rates in terms of quantity produced are air conditioners. Colour TV, and refrigerators which in turn lead to increase in the growth rate of stabilizers in the market tremendously.

ENTRY INTO GARMENTS

Chittilappilly's empowerment of trusted people to implement projects and run them independently has been a management practice, which was stretched to his wife Sheela. A garment unit was started and Sheela was fully delegated to run the business. It was a bold decision to enter a diversified business activity. Chittilappilly was confident that his wife with her skills in managing home, and interest and involvement in social projects, could manage this garment unit. "It was her own idea", Chittilappilly remembers with confidence. Chittilappilly was confident that it was a business suited to her frame of mind. The confidence is reinforced by the fact that this sector is growing upwardly with much scope for ` exports. However, Chittilappilly wanted the brand name to be delinked from V-Guard. Therefore, the garment products were

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branded as "V Star". At present, the unit sells ladies garments and has a turnover of approximately Rs. 10.5 crones (2003-04). The garment was also outsourced as the management team had become experienced in running business with complete out sourcing. At present, the unit faces much competition from unorganized sector, which is virtually exempt from tax burdens. However V Star's products are targeted towards the brand conscious up segment consumers enabling the price to be higher than the unbranded garments. V Star products are sold through selected outlets where choosy and finicky women flock in.

REALIZATION OF A GREAT DREAM: THE THEME PARK

Chittilappilly continuously exercised delegation to his trusted senior management team consisting of Mr. Vijayan, the GM, Mr. Antony Sebastian, the DGM and Mr. Jayaraj, the AGM, and others. A. major intention was to set apart his time for creative conceptualization of new projects. Moreover, it enabled him to get out of the monotony in mundane and routine operations for which his management team is l lore thorough than Chittilappilly himself. It was his desire to do something unconventional and different from his main stream of business activity. He used to spend his leisure time in going to amusement parks than going for shopping. A visit with his family to many such amusement parks in India and abroad created so much passion for starting an amusement park in Cochin. He said a man to his desire not because of the 18 acres of beautiful land he possessed at Kakannad, the suburb of Cochin, but because he wanted to be truly creative and unconventional in his new endeavours. Moreover, he was confident that an amusement park of this kind would generate rich cash inflow due to its attractiveness to a vast majority of fun-loving Keralites. A market research by V-Guard team showed that more than 50 % of the visitors to parks located in neighbouring Tamil Nadu are Keralites. Chittilappilly's confidence was strengthened by the belief that this project with its comparatively lesser portion of variable expense and at current level of fixed cost can generate higher sales revenue and profit with reasonably higher margin. Without a second thought, he conveyed his new idea to his management team and separated a set of creative-minded subordinates for exploring and exploiting this opportunity. Eighteen acres of land was added to the existing property to convert the land into a beautiful landscape. The team was sent to different amusement parks in India and abroad and they were energized to go into action.

It took two years of meticulous planning and action for Chittilappilly's team to open the floodgates of V-Guard amusement park to the public in 2000. While selecting human resources for Veegaland, Chittilappilly was not particular not to pick up anyone having previous experience in water theme parks,

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nor did he choose an architect who had experience in designing theme parks. This was because he was apprehensive of stereotyping and imitation, which would hamper the creative and innovative culture that V-Guard team possessed. "A seasoned architect wouldn't accept my ideas", Chittilappilly says. Therefore, a young and dynamic architect was chosen for this Herculean task. Yet Chittilappilly confesses that some premature ideas were implemented in the initial stage which had to be rectified later. The visit to leading theme parks in India and abroad by the selected empowered team and their experiential learning put tremendous confidence in the team. Chittilappilly was only coordinating their visit and action plans. It is amazing to note that even the food and beverage team intended to run the restaurants and eat-outs in Veegaland were from V-Guard Itself. Attention to every detail and precision and the hard labour of the team made a highly cherished dream a reality. In 2005, Veegaland is completing its fifth year of operation. People visit Veegaland just like they go for religious pilgrimage. The beautiful and clean ambience of Veegaland is a unique experience for the visitors. No wonder many members of the maintenance staff are engaged in painting and repainting the inside of the theme park to upkeep the fresh outlook. Although school children constitute the major segment, Gulf malayalies are a niche segment and brand ambassadors of Veegaland. These NRIs give good word of mouth publicity for the theme park.Guard's strong dealer network helped very much in promoting Veegaland in distant parts of Kerala and outside. A theme park like this is affordable and matching with the life style of Keralites.

The investment in the park is comparably so high that the facilities, design, service and amusement level are unmatchable. Hence, the investment has caused entry barriers for other ambitious business groups to try their fortune in a theme park. The scale and magnitude of visitors is very encouraging according to the management team of Veegaland. In the peak months of March, April and May, the number of visitors rises to as high as 5,000 per day. This unexpected boom in the number of visitors necessitated major modification and expansion involving doubling of the capital investment. With an entry fee of Rs. 3 50 on weekend days and Rs. 280 on other days, and 2/3rd of that for children, it is good money that the business brings. Even with a low figure of 500 visitors per day during lean season, Veegaland was able to achieve a turnover of Rs.18.5 crore and a net profit of around Rs. 5 crore in 2004. Even with a daily cost of Rs. 30,000 for electricity and nearly 200 permanent staff, the management makes it a point not to shut the doors for public even on day of leanest traffic.

Encouraged by the positive outcome and personal satisfaction, Chittilappilly enjoys from this venture. Chittilappilly's vision stretched to Bangalore—making a jewel in Bangalore, a water amusement park which is expected to be much more attractive than the Vrindavan gardens. The project is underway at the outskirts of Bangalore. As in the past, a team is cut out from V-Guard, and Veegaland now headed by

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Chittilappilly's own Australian-educated engineer son and his wife. The park is to be spread over a large span of 80 acres when it becomes fully operational. It is comparable to the world-class theme parks. The investment cost is Rs. 65 crore. Seventy-five percent of the financing is through loan.

FACTORS GOVERNING THE GROWTH OF THE INDUSTRY

Every industry thrives on some supporting factors . in this connection there are few factors governing the growth of electrical and electronic industry:

 Research and development played an important role to the increased productivity and higher value added electrical and electronic products.

 Foreign investments accelerated growth in production and export as well . to expand their business ,foreign companies have done huge investments which lead developing countries in establishing production units

 Global industries like medical, telecommunications, industrial and automotive industries have been cordially supported by electrical and electronic industry.

 Increase in income changed living standards of the common mass. As a result , it increased in the demand of electronics especially consumer electronics product globally

 Asia pacific region is emerging as the most spinning place for the consumer electronics industry, as the market remains still unreached.

Innovation has played importantly in this industry .it led to a consistent demand for newer and faster products and applications.

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CHAPTER3

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COMPANY PROFILE

V-Guard Industries Limited is an India-based company. The Company operates in three segments: electronics, which includes voltage stabilizers, uninterruptible power supply (UPS) and digital home UPS; electrical/electro mechanical products, which includes polyvinyl chloride (PVC) insulated cables, pumps, water heaters, fans, LT power and control cables, and others, which includes solar water heaters, gas water heaters, water level controller and windmill energy. During the fiscal year ended March 31, 2010 (fiscal 2010), the Company produced 310,403,260 meters of PVC insulated cables; 2,888 kilometres of LT power and control cables; 18,000 solar water heaters, and 20,000 pumps.

Kochi, 28th May 2010: The Board of Directors of V-Guard Industries Limited, the electronic and electrical major today considered and adopted the audited financial results Company for the year ended 31st March, 2010.

Backed by a growth in the white goods and electronic and electrical segments, the Company‘s net profit surged by 46.85% to Rs.25.47 Crore for the year ended 31st March, 2010, from Rs.17.35 Crore for the last year.

HISTORY

. The foundation of the business was laid with the formation of a Partnership Concern viz. by their

Promoter in the year1977 which was engaged in the business of manufacturing and marketing voltage stabilizers under the brand name ―V-Guard‖. In the year 1992, Premier Electronics, the partnership concern was dissolved and Mr. Kochouseph Chittilappilly continued the business as a proprietary concern. Also, in the year, 1985, Mr. Kochouseph Chittilappilly started another proprietorship concern by the name of M/s Prompt India for marketing of the products under the brand name of V-Guard. Subsequently, M/s Prompt India changed its name to M/s V-Guard Industries. On February 12, 1996, our Company was incorporated under the name of ―V-Guard Industries Limited‖ under the Companies Act, 1956, with the Registration No. 09-10010 of 1996 having its registered office at 44/1037, Little Flower Church Road, Kaloor , Cochin- 682017, Kerala,

India .With effect from 1st April, 1996, their company took over the business of the proprietary concern i.e. M/sV-Guard Industries, on going concern basis for a lump sum consideration of 234 lakhs and carried on

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the business of the firm namely manufacturing and marketing of electronic and electro mechanical appliances.

With effect from November 15, 2001 their Company was converted into a private limited company and again got converted into a public limited company on August 1, 2007 and received a fresh certificate of incorporation in the name of ―V-Guard Industries Limited‖. Their Corporate Identity Number is U31200KL1996PLC010010.

The company now has diversified into a multi-product company which now manufactures and markets Electronic Voltage Stabilizers, Monobloc, Jet, Submersible, Compressor pumps and Electric Motors, Insulated Electrical Cables(House Wiring, Industrial), Electric Storage & Instant Water Heaters, Solar Water Heaters, UPS, Electric Fans and is also in generation of Power in a small way.

MAJOR EVENTS AND BREAK THROUGH

1977 : Mr KOCHUSEPH CHITTILAPPILY set up premier electronics with an investment

of Rs 100000 and with just two employees. Two refrigerator stabilizer were manufacture each day 1980 : Launched AC stabilizer

1982 : Started another unit called ―Universal Electronics‖ 1983 : Started ―supreme Electronics‖

1986 : Started ―prompt India‖ . Expanded operations outside Kerala by opening of Tamil Nadu branch, followed by a branch in Karnataka. Prompt India started Marketing stabilizer in the name of v guard

1987 : Launched Servo-Controlled Stabilizers

1989 : Prompt India converted into ‗v guard industries‘

1992 : Launched v guard pumps and started a new branch office in Andhra pradesh 1996 : v guard industries became a public limited company. Launched v guard Water heaters and wiring cables.

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1997 : launched Aquatron, an electronic water level controller for overhead water Tanks

1998 : launched UPS

1999 : launched digital stabilizer and diversified into electric cables business with V guard cable manufacturing unit at Coimbatore.

2000 : turnover crosses INR 1000 Million mark

2001 : Launched compressor pumps. Company is converted into PVT ltd for Better manoeuvrability

2002 : launched v guard solar water heaters

2003 : solar water heater manufacturing unit and electro mechanical works for Manufacturing pumps in Coimbatore becomes operational. branch office Started in Delhi

2005 : launched solar water heaters with evacuated glass tube collected Technology

2006 : launched v guard fans. Branch office in Bhubaneswar, Pune and Hubli 2007 : new branch offices at Vijayawada. , Bhopal, kalaamb, Vadodara, Kanpur Nagpur, Raipur, Jamshedpur, Ludhiana, and Jaipur. Turnover crossed INR 2400 million marks. V guard industries became a public limited company

2008 : Listed in BSE and NSE. launched inverters & LT cables, new factories at Coimbatore & Kashipur established.

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2009 : opened manufacturing facility for water heaters and fan at Kalaamb, HP 2010 : turnover crosses 4600 million marks

CERTIFICATION, AWARDS AND RECOGNITION

 Best entrepreneur in Kerala awarded to Kochuseph Chittalllappilly , CMD, V guard industries pvt ltd.(1993)

 Highest individual income tax payer from the state 1993 to 1995.

 Vyavasaya jyothi award given by the Ernakulum chamber of commerce. (1996)

 Industry excellence award for medium scale industries awarded by the institution of engineering (India) ,cochin(1998)

 Millennium businessman of Kerala awarded by business deepika (2000)

 Business man of the year awarded by dhanam magazine (2007)

 Kerala no 1 consumer durables product category from dhanam magazine

 Fact MKK nayar memorial productivity award for the year 2006-2007 from Kerala state development corporation

PROMOTERS OF V-GUARD

 Mr. Kochouseph Chittilappilly, Post graduate in Science majoring in Physics from Calicut University.

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BOARD OF DIRECTORS

 Managing Director:

Mr. Kochouseph Chittilappilly is a post graduate in Science majoring in Physics from Calicut University. He started his career as a Supervisor in an electronics company, where he worked for 3 years.

 Chairman:

Mr. P.G.R Prasad is a Certified Associate of the Indian Institute of Bankers, Chartered Financial Analyst and Certified Financial Planner, Financial Planning Standards Board India. He was inducted to the Board of Directors of V-Guard as an Independent Director on 16th August, 2007.

 Executive Director:

Mr.Mithun Chittilappilly is a Post Graduate in Finance from University of Melbourne, Australia. Mr. Mithun after completing his Graduation in Commerce joined V-Guard to be trained in the various departments of the company.

INDEPENDENT DIRECTORS

 Mr. C.J George

Aged 48 years, is a Post Graduate in Commerce, Certified Financial Planner and a Research Scholar with School of Management Studies of Cochin University of Science and Technology. He joined the company as an Independent Director on 16th August 2007.

 Mr. A.K Nair

Appointed as the Non Executive Director of the Company on 27th May 2009 Mr. A.K.Nair holds a Bachelor‘s degree in Mechanical Engineering with Masters in Business Administration and has over 45 years of Industry experience.

COMMITIES

 Audit Committee

 Remuneration Committee

 Share transfer/ Shareholders Grievance Committee

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VISION

Let us endeavour to make v guard a trusted household name.

MISSION

1. To offer a range of products at affordable prices, which add to comfort of life through saving in manual labour time and energy or for entertainment

2. To make their products meet international quality standards and provide trouble free performance.

3. To adopt designs, which support timely brand efficient post sales service.

4. To continuously innovate and add value to their products, if needed with technical collaboration.

Quality Policy / Processess

V-Guard has a holistic, enterprise-wide approach to quality. Utmost care is taken while selecting the various components that go into production. Sourcing is done from manufacturers of repute. Each component is checked for quality compliance, and those that do not meet set parameters are rejected. Various checkpoints along the production line ensure quality standards are adhered to. Post-production inspection and certification ensures each individual product that moves off the assembly line conforms to internationally accepted quality and performance benchmarks. It is V-Guard‘s commitment to quality

that has made it ‗the name you can trust‘.

ISO9001

V-Guard's ISO 9001 certified factory for manufacturing electrical wiring cables is set up at Coimbatore, Tamil Nadu.

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PRODUCT PROFILE

PRODUCTS

 Stabilizers

V-Guard is the largest selling brand of electronic voltage stabilizers across India. 5 Millions Of customers were experienced the quality of protection of V-Guard stabilizers for their home appliances. Since 1977 onwards, V-Guard Stabilizer provides reliable and trusted protection from voltage fluctuations and used to safeguard the electronic home appliances like Television, DVD, and DTH Receiver, Music system, Home Theatre, Water cooler, Refrigerator, Deep Freezer, Air conditioner and Microwave oven. V-Guard Stabilizers are designed with significant features like HMC Technology, Fail Safe circuit protection, High and Low voltage Protections, Time Delay Protection and Built In Thermal Overload Protection.

 Cables

These are manufactured in conformity with ISI standards at an ISO 9001 certified manufacturing plant

located at Coimbatore in Tamil Nadu. V-GUARD PVC wiring cables are manufactured in conformity with ISI standards at an ISO 9001 certified manufacturing plant located at Coimbatore in Tamil Nadu. The HFT

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technology used in their production ensures absolute safety from electrical hazards. Multi-core flat/round cables (up to 3 -core) are available. Each coil has an assured length of 90 meters.

 Pumps

V guard pumps are made according to ISI standards and specifications using high quality components and meet high performance standards. They are known for their sturdiness, durability and dependability. The superior technology used in the construction ensures better efficiency and lower running costs. More than 150 different models are available with capacities ranging from 0.25 HP to 25 HP, and are ideal for domestic as well as for agricultural purposes.

 Self Prime & Mini Monobloc Pumps

 Centrifugal Pumps

 Open well Submersible Pumps

 Jet Pumps

 Compressor Pumps

 Single phase bore well submersible pumps

 3 Phase Bore well Submersible

 3 Phase Centrifugal Monobloc

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 UPS

Incredibly Intelligent! The trusted companion for the computer, driven by high end features like advanced PWM – MOSFET Technology with PID Control, Zero Power Drain Technology to prevent Deep Discharge of battery, OFF-MODE battery charging and intelligent software shutdown to provide high quality in power management.

Models available in OFFLINE UPS are:

 UPS 60 Royal

 UPS 70 Vismaya Plus

 UPS 120 EB

 Online-UPS - Single Phase to Single Phase

 Online-UPS - Three Phase to Single Phase

 High frequency true online UPS

 Electric Water Heaters

V-guard Electric Water Heaters (Geysers) are manufactured in the-state-of-the-art production set up and comes with ISI mark and Pentad Protection System (PPS). Its outer body is made of rust proof, shock proof ABS.

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The futuristic 'Energy Saving' technology and the 5 unique safety features developed in-house with R&D excellence, make it the most economical and safest water heater. Fine quality components combined with sleek, elegant design in varied colours complement the decor of your bathrooms and kitchen, perfectly.

 Instant Water Heaters

 Instant Gas Water Heaters

 Storage Water Heaters

 Solar Water Heaters –

Solar water heaters were launched by the company in the year 2002. The manufacturing base of solar water heating systems has since been improved substantially with the total number of 49 manufactures securing Bureau of Indian Standards (BIS) certification for their products,

V-Guard Solar Water Heaters, a truly International quality product manufactured at the use the highly efficient Evacuated Tube Collector system enabling optimal utilization of solar energy. The PUF insulated stainless steel storage tank prevents heat loss. V-Guard Solar Water Heaters dramatically cut electricity bills, help conserve energy and are environment friendly.

They are available in: 100 Lpd, 125 Lpd, 200 Lpd, 300 Lpd, 500 Lpd and 1000 Lpd for domestic use, and are easy to install and last a life time. V-GUARD ETC solar water heaters are also manufactured for industrial applications that is for pool heating, large hotels, large hospitals, factories etc. and are available in 2000 Lpd,3000 Lpd,4000 Lpd and 5000 Lpd and also according to the requirements.

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V-GUARD fans are sleek and elegant, provide excellent air circulation. Double ball bearings ensure they keep whirling smoothly for years. The hub and blades have a powder coated finish and rust resistant. ‗HIGH ANGLE‘ Technology used in blade design ensures wider coverage. The fans are available in a range of colours to suit the interior décor.

 CW 1548  CW 2048 M  CW 3348  CW 3124 M  SF 4048 M  SF 6148 M  SF 7048 M

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Chapter 4 Department profile

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

Customer service department



Electronic and new projects department



Electro mechanical department



Finance and accounts department



Human resource and administration department



Mechanical and electrical department



Marketing department



Supply chain management

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ORGANISATION STRUCTURE

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CUSTOMER SERVICE DEPARTMENT

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This department deals with the relationship that the company maintains with the public . they mainly deal with providing after sales service to the customers .this helps them in maintaining their customer base and meeting their expectations.

It has total of 15 employees in this department .the customer service of this company done through 275 service centres in 20 states.

Department chart

Head of Department Manager Zonal In charges Branch in charger Service in charge

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TYPES OF SERVICES PROVIDED

a) Service at service spot

V guard provides service through service centres located in different states customers who detect complaints can bring them to the nearest service centre to get the required service.

b) Service at dealers spot

Serviced is provided through the dealers who deal with v guard products . In this case , the customers can approach the dealers with the defected product and the dealers return the products after the complaint has been rectified.

c) Service at customers spot

Service is also provided at the spot where the customers are. In this case, technicians are sent to the customers after the complaint has been reported .According to their policy, complaints should be rectified within 24-48 hours of registering the complaint.

Levels of service

i.

Customer satisfaction

It is ensured that all the complaints are solved within 24 hours of receiving the complaint . employees are assigned to visit the customers spot for solving issues that might have occurred while using the product and even replacing the product if required. The service charges are collected as per the approved manual

ii.

Customer care

As per the company policies, all the details regarding the service terms , warranty details , service charges etc are to be displayed in front of the service centre. After the service has been done , feedback from the customers is collected . this improves them in correcting their flaws in the service provided and to serve them better. Feedback regarding the quality of the products, after sales service etc is collected by visiting the dealers dealing with their products.

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V guard ensures that they provide service as per the customers‘ demands and expectations

Channels for registering complaints

Various channels have been provided to the customers for registering their complaints. They

are:



Through dealers:

The customers are able to register their complaints with the company through the dealers dealing with their products.



Directly contact to service centres

Customers can report their complaints by contacting the service centre that is the closest to them.



Contact through helpline

The customers can contact through their toll free number 1800 3000 1800. Customers

from any state can contact the branch office in the state through this number



Register the complaints through mail

The customer can also register their complaints through mail.

Service efficiency management

The efficiency of the services provided are measured by doing the following

Checking the number of complaints solved within 48 hours Service audit reports

Feedback received from marketing department Feedback received from dealers

Feedback received from end users.

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This department is in charge of coming up with the new and innovative ideas, conducting a study on feasibility analysis.

A total of 138 employees belong to this department. This included quality controllers who are appointed at various factories. These quality controllers ensure that the processes are being followed as instructed by the head office. They ensure that the quality of the product is uniform with that of the products of the other factories. The quality controller approves the components that are being used in the outsourced factories. They provide such works to charitable institutions like Cherupushpa electronics, Sengo Paul‘s systems .They produce 1.5lakh stabilizer a month. V guard has about 62 factories in all over India.

Department chart

p

Production

:

The production dept is in charge of looking into the production patterns and the processes that is to be followed in all the factories. They make sure that the patterns and products are uniform and according to the requirements

Product development

:

Electronics And new product

Production Department Product Engineering CARC New projects Product Developmen t MRP Senior manager

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The product development department conducts research regarding the feasibility of the new product that may be implemented by the company.

Product engineering:

Product engineering department product standardizes the process that is supposed to follow and the work that is to be done in the factories. The processes that are formed at the head office are given to the quality controllers that are appointed at the various factories. They ensure that the processes are followed as per the orders from the head office.

Component research and approval centre (CARC)

This department is responsible for testing each component that is to be used in the manufacture of a product. The test is done over a period of 21 days in which the suitability and usability of the component is tested .It is checked whether it meets the expectations of the company.

Components as minute as screws, bolts, etc used only after they have been tested at this centre. Suppliers who are interested in supplying their materials to the company are made to submit a sample with the centre. Major suppliers are Keltron and in cap.

New projects

This department concentrates mainly on new and innovative ideas. They initiate new concepts and if found feasible, hands over it the production department foe making into reality. Home ups was such one product which was conceptualized couple of years back and is now one of their top selling product.

ELECTRO MECHANICAL DEPARTMENT

This department coordinates the activities of the outsourced units. It deals with design aspect of each product. They take the feedback and after analysing it, makes the necessary corrections. It looks after the production of pumps and motors. The total division consist of 102.they are engaged in the agriculture, domestic and industrial segment. This department consist of 85 employees

Department chart

Head of Department

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FINANCE DEPARTMENT

Business as we know is concerned with the financial activities. In order to ascertain the financial status of the business every enterprise prepares certain statements, known as the financial statements. Financial statements refer to two statements which are prepared by a business concern at the end of the year. These are (i) income statement or trading and Profit and Loss Account which is prepared by a business concern in order to know the profit earned and loss sustained during a specified period; (ii) position statement or balance sheet which is prepared by a business concern on a particular date in order to know its financial position.

Department chart

Deputy Manager Senior Engineer Assistant Manager Executives CFO

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CURRENT RATIO

Current ratio may be defined as the relationship between current assets and current liabilities. This ratio, also known as working capital ratio, is a measure of general liquidity and is most widely used to make the analysis of a short term financial position or liquidity of a firm. It is calculated by dividing the total of current assets by total of current liabilities.

Current ratio=current assets/current liabilities

Head accounts

Secretarial State &

Local tax Internal audit Costing Inventory management

Indirect tax & vendor Mgt.

Legal & compliance

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Current Ratio

As a convention the minimum of 2:1 is referred to as a rule of thumb or arbitrary standard of liquidity for a firm. A ratio equal to or near the rule of thumb is considered to be satisfactory.

0 0.5 1 1.5 2 2.5 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010

Current Ratio

current ratio

Year Current Assets Current Liabilities Current Ratio 2005-2006 4,128.06 2,208.16 1.86 2006-2007 7,581.56 3,754.83 2.01 2007-2008 14,878.02 6,514.06 2.28 2008-2009 9,505.26 4,633.57 2.05 2009-2010 19,040.34 8,244.38 2.30

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Here, we see that expect for the financial year 2005-2006, The Company‘s current assets are double the current liabilities. The year shows an unsatisfactory current assets position. The ratio of current assets over current liabilities is found to be increasing over the period though there has been a downfall in the year 2008-2009 from 2.28:1 in 2007-2008 to 2.05:1. The current assets are 1.86, 2.01, 2.28, and 2.05, 2.30 times the current liabilities in the financial years 2005-2006, 2006-2007, 2007-2008, 2008-2009, and 2009-2010 respectively. Hence, it can be inferred that the general liquidity position the firm over a period of 5 years is satisfactory.

(Note: current liabilities are taken as 1 and current assets are given comparison to it.)

NET PROFIT RATIO

This ratio explains per rupee profit generated by sales.If the cost of sales is lower,then the net profit will be higher and when we divide it with the net sales,the result is the sales efficiency.if lower is the net profit per rupee of sales, lower will be the sales efficiency.the concerns must try for achieving for maximising the ROI.This ratio is very useful to the proprietors and prospective investors because it reveals the overall profitability of the concern. Net profit ratio establishes the relationship between net profit (after tax) and sales, and indicates the efficiency of the management in manufacturing, selling, administrative and other activities of the firm.

This ratio is the overall measure of firm‘s profitability and is calculated as: Net profit ratio= net profit (after tax) / net sales×100

This ratio differs from the operating profit ratio in as much as it is calculated after deducting operating expenses, such as loss on sale of fixed assets etc.,from operating profit and adding non-operating income like interests or dividends on investments, profit on sale of investments or fixed assets, etc., to such profits. Higher the ratio, the better it is because it gives idea of improved efficiency of the concern.

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Year Net Profit Net Sales Net Profit

Ratio 2005-2006 920.48 16,972.86 5.42 2006-2007 1,823.93 22,227.48 8.20 2007-2008 3,742.31 27,811.00 13.45 2008-2009 1,734.65 31,677.67 5.47 2009-2010 2,547.26 45,408.91 5.60

Net Profit Ratio

NP ratio is used to measure the overall profitability and hence it is very useful to proprietors. The ratio is very useful as if the net profit is not sufficient, the firm shall not be able to achieve a satisfactory return on its investment. Here we find that net profit is sufficient enough for the company. Though in a low pace, the companies‘ net profit if found to be increasing over the years. In the year 2005-2006 the net profit was 5.42; 8.20 in 2006-2007; 13.45 in 2007-2008; 5.45 in 2008-2009; 5.60 in 2009-2010.This ratio also indicates the firm's capacity to face adverse economic conditions such as price competition, low demand, etc.

COMPARATIVE BALANCE SHEET

0 2 4 6 8 10 12 14 16 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010

Net Profit Ratio

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For The Year Ending March 2009 And 2010

Comparative Balance Sheet (Rupees in Lakhs)

2009 2010 Increase/ Decrease (Amounts) Increase/ Decrease (Percentage) ASSETS Current Assets

Cash in hand and at bank Inventories

Sundry debtors Loans and advances

Total current assets

Fixed assets

Land and building Plant and machinery Furniture’s and fixtures Other fixed assets

Capital work in progress Total fixed assets Investments

TOTAL ASSETS

LIABILITIES& CAPITAL

Current liabilities

Sundry creditors

Other current liabilities

409.11 3586.00 4875.33 634.82 9505.26 3687.06 2276.48 50.73 1113.95 2576.82 9705.04 1136.04 20346.34 1704.78 1831.75 741.42 9852.68 7559.92 886.32 19040.34 6001.86 3832.90 159.10 1235.43 288.75 1158.52 457.69 31016.55 2992.38 3909.74 +332.31 +6266.68 +2684.59 +251.5 +9535.08 +2314.8 +1556.42 +108.37 +121.48 -2288.07 +1813.48 -678.35 +10670.21 +1287.6 +2077.99 +81.22 +174.75 +55.06 +39.61 +100.31 +62.78 +68.36 +213.62 +10.90 -88.794 +18.68 -59.71 +52.44 +75.52 +113.44

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Provisions

Total current liabilities Long term loans

Total liabilities Equity share capital Reserves and surplus

TOTAL 1097.04 4633.57 3067.64 7701.21 2984.75 9660.38 20346 1342.26 8244.38 8623.93 16868.31 2984.75 11163.49 s31016.55 +245.22 +3610.81 +5556.29 +9167.1 - +1503.11 +106070.21 +22.35 +77.92 +181.03 +119.03 - +15.55 +52.44

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DEPARTMENT CHART

HR policy

The basic principles of V-Guard human resource policies include:

 Recruitment based solely on merit by following well-defined and systematic selection procedures without discrimination.

 Sustain motivated and quality work force through appropriate and fair performance evaluation, reward and recognition systems.

 Identify training needs within the organization and design and implement those need based training programmes resulting in continuous up gradation of knowledge, skill and attitudes of the employees.

 Maintain a quality human resource management system plan, design, and train, equip and motivate the dept staff to meet this standard of expectation.

Senior officer Director Deputy GM Senior vice president Executive Officer Senior executive

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The HR practices

Most of the HR practices of V-Guard industries were a result of the vision of its founder and the culture that they have been created over the years. The founder advocated simplicity and maintained the culture of a small company and the employees were encouraged to share their learning experiences too.

Recruitment

V-Guard's greatest asset is its employees. It is committed to attracting, retaining, and developing the highest quality and most dedicated work force possible in today's market. It strives to hire and promote people on the basis of their qualifications, performance, and abilities, and is determined to provide a work environment free of any form of discrimination both direct and indirect, including sexual harassments. While recruiting new employees V-Guard takes adequate care to identify the right candidates guard focus on recruiting candidates who display a high degree of learn ability, i.e. candidates who are open to learn new things and supply the same in new situations we also place significant importance on professional competence, academic excellence, analytical ability, term work, leadership potential, communication and innovative skills, along with a practical and structured to problem solving.

Training

V-Guard human resource department believes that quality is the hallmark of any successful venture. Quality training and development of human resource is realized through Identifying training needs within the organization and designing and implementing those need based training programs to bring about continuous up gradation of knowledge, skill and employee attitudes.

The following brief highlights V-Guard's training methodology for the comprehensive development of its employees

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Companies success in today's free market economy, only because their employees perform to their fullest potential .alive to this home trust, V-Guard draws up on annual training calendar highlighting the training activities for the year It also includes detailed discussions with the faculty to decide on the contest of the training programs guard's training plan includes technical/functional programs (mechanical, electrical, finance related and behavioural programs etc) ,covering a wide cross-selection of employees, as follows: A week long induction program for fresher‘s:

 Development of top performer through leadership development programs aimed at bringing up future leaders

 Development of managerial staff through intensive management development programs tailor made for them providing exposure to holistic understanding of the business, strategic planning, customer relationship, enhancing share holder value, and financial management.

 Sustained effort in training has led to creation of highly skilled and motivational employees ready to take on higher roles and responsibilities in the company.

Performance appraisal

The first step towards carrying out performance appraisal at V-Guard is the evaluation of

personal skills for the tasks assigned to an employee during the period of appraisal .To evaluate the performance ,different criteria like timeliness ,quality of work carried out by the employee, customer satisfaction .peer satisfaction and business potential is considered The personal skill of the employees are also evaluated based on their learning and analytical ability ,communication skills, decision making, planning and organizing skills. Each of these criteria is measured on a scale and then evaluated. A performance appraisal system is a strong tool in the development of human resources in the organisation. It is considered as a mutual feedback to the management and thereby help to decide the carrier growth, training needs and other human resources development, interventions required for each of them thereby aiding their self development.

It is vitally important that every individual has a clear understanding of his or her work, objectives, and responsibilities, because performance will measure against these.

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•

Culture

At V-guard ,we have built a culture in tandem with the vision and values of the organization that makes v —guard ,a great place to perform where members take pride in being a part of the V-Guard family, are intellectually and emotionally bound with the organization, feel passionately about their goals and are committed towards the organization's vision and values .complete ownership of the vision and values ensures alignment of member's personal vision with organization's vision, thereby achieving focus in all the endeavours.

Work culture emphasizes

 Freedom to experiment

 Continuous learning and training Transparency and openness

 Quality in all aspects of work

 Reward based on performance and potential

Company Policy

 All selected candidates are initially placed on probation for a period of 6 months

 On completion of probation period and upon recommendation by the head of the department, the employee shall be absorbed and confirmed onto the rolls

 Management cadre employees are directly appointed into the skills

Benefits and Perquisites

The benefits given to the employees are of two types, statutory and non-statutory benefits. Statutory benefits

• Provident fund

• Employee State Insurance

• Employees Deposit Linked Insurance • Service Gratuity

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• Labour Welfare Fund

• Bonus

Non-Statutory Benefits

• Reimbursement of travelling expenses • Leave travel allowance

• Medical reimbursement

• Personal accident insurance and medi claim insurance • Performance linked bonus

• Reimbursement of telephone/mobile rent • Incentives to personnel

• Group saving linked performance

• Benevolent fund Expenses for purchase of suitcase • Concessional loan

• Interest free vehicle loans

• Higher education loans for employees\ • Education allowance to employees' children • V-Guard award for excellence

• Veegaland /Wonder Ia passes

• Discount offer for V-Guard products • Suggestion awards

• Reimbursement of credit card renewal fee • Best Article Award (V and We)

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• Contribution for employee‘s marriage • Performance linked incentive scheme

Types of Leave

 Casual Leave  Sick Leave  Annual Leave  Marriage leave  Transfer leave  Maternity leave

Salary components

• Basic pay • Dearness allowance • House rent allowance • Conveyance allowance . Compensatory allowance

• Special allowance (10% of basic pay and dearness allowance) • Additional compensatory allowance (based on place of posting) • Fixed allowance

• Stores allowance

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 HR induction and orientation

When new candidates are hired, they are invited for a one week induction and orientation programme to corporate office and where the candidate is acquainted which each and every aspect of the organization. A through integration with hr &business processes takes place. As part of the induction programme they also undergo training on motivation, visit to our amusement park and also a visit to our cable factory located in Coimbatore. All the new joinees have an open interactive session with the top management including our managing director. A special induction manual was designed for new joinees together with an induction kit which provide all the necessary details on the company, allowances and the facilities they are eligible for.

 Sports & games activities

V-guard believes in "healthy employees bring better productivity". As part of our fitness movement we have provided adequate infrastructure to conduct various kind of indoor as well as outdoor sports. We have separate sports facility, which range from table tennis to badminton, gymnasium and tie ups with college grounds to conduct cricket and football matches. company organizes inter-unit sports competition by making a sports calendar on yearly basis to keep on promoting the spirit of sportsmanship across our branches the sports activities will come to an end with the annual sports day scheduled in the month of January 2010 where individual prizes would be awarded to winners and overall trophy to the department scoring the maximum points .all the events were coordinated by the recreation club formed for this purpose.

 Leadership development program

On the growing trajectory on which V-Guard is today, there is a strong emphasis on developing an effective organization that uses its skills in leading and driving its growth. Hence, our company identifies future leaders by identifying members who think holistically about the organization, by considering the big picture and act for the greater good of the enterprise. These members are made to undergo coaching sessions for meeting their developmental requirements enabling to become the real leaders to take the organization to greater echelons!

 Executive development program

All managerial cadre employees are nominated for executive development programs conducting internally. Trainers are experts in the field and duration of the program was 6 months (2 days in a month) .training methodology used were case studies, in basket techniques, business games etc.

Neets Project v Guard

AN ORGANIZATIONAL STUDY AT

V –GUARD INDUSTRIES LTD

A Project report submitted in partial fulfilment of requirement for the

award of degree of Master of Business Administration

of University of Kerala

Submitted by

NEETHA.K

INSTITUTE OF MANAGEMENT IN KERALA ADOOR

DECLARATION

ACKNOWLEDGEMENT

CONTENTS

CHAPTER 1

INTRODUCTION

OBJECTIVES

KEY INDUSTRY REGULATIONS AND POLICIES

The Factories Act, 1948

The Contract (Regulation and Abolition) Act, 1970

The Environment (Protection) Act, 1986

The Employees Provident Fund Act, 1952

The Employees State Insurance Act, 1948

The Payment of Gratuity Act, 1972

Industrial Disputes Act, 1947

Workmen’s Compensation Act, 1923

METHODOLOGY

LIMITATIONS

CHAPTER 2

INDUSTRY PROFILE

INDUSTRY PROFILE

GLOBAL SCENARIO

INDIAN SCENARIO

ENTRY INTO GARMENTS

REALIZATION OF A GREAT DREAM: THE THEME PARK

FACTORS GOVERNING THE GROWTH OF THE INDUSTRY

CHAPTER3

COMPANY PROFILE

HISTORY

MAJOR EVENTS AND BREAK THROUGH

CERTIFICATION, AWARDS AND RECOGNITION

PROMOTERS OF V-GUARD

VISION

MISSION

Quality Policy / Processess

ISO9001

PRODUCT PROFILE

PRODUCTS

Chapter 4

Department profile



Customer service department



Electronic and new projects department



Electro mechanical department



Finance and accounts department



Human resource and administration department



Mechanical and electrical department



Marketing department



Supply chain management

ORGANISATION STRUCTURE

CUSTOMER SERVICE DEPARTMENT

Department chart

TYPES OF SERVICES PROVIDED

a) Service at service spot

b) Service at dealers spot

c) Service at customers spot

Levels of service

i.

Customer satisfaction

ii.

Customer care

Channels for registering complaints



Through dealers:

