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A project report on Minda Autocare

Submitted in partial fulfillment of the requirements for the award of the degree of

Bachelor of Business Administration To Guru Gobind Singh Indraprastha University, Delhi

Guide: Mr. Virender Dahiya

Submitted By: Achin Agarwal 07521101709

Institute of Information Technology and Management New Delhi 110058 Batch 2009 - 2012

CERTIFICATE
I, ACHIN AGARWAL enrollment no.07521101709 certify that the Major Project Report is done by me. The matter embodied in this project work has not been submitted earlier for the award of any degree or diploma to the best of my knowledge and belief.

Name: ACHIN AGARWAL Date: Certified that the Major Project Report on Communication done by the above student is completed under my guidance. Signature of the Guide Date: Name of the Guide: Mr. Virender Dahiya Designation: Countersigned Director

ACKNOWLEDGEMENT
First and foremost, I would like to thank to my guide of this project, Mr. Virender Dahiya for the valuable guidance and advice. He inspired me greatly to work in this project. His willingness to motivate contributed tremendously to my project. I also would like to thank him for showing me some example that related to the topic of my project.

Besides, I would like to thank GURU GOBIND SINGH INDRPRASTHA UNIVERSITY for providing us with an opportunity by offering this subject. It gave me an opportunity to participate and learn about the practical knowledge of my day to day learning. In addition, I would also like to thank INSTITUTE OF INFORMATION AND TECHNOLOGY AND MANAGEMENT which provided me valuable information as the guidance of my project.

Finally, an honorable mention goes to my family and friends for their understandings and supports on me in completing this project. Without helps of the particular that mentioned above, I would face many difficulties while doing this project.

FORMAT FOR CONTENTS & LIST OF TABLES/FIGURES/ SYMBOLS

CONTENTS
S No 1 2 3 4 5 6 7 8 9 10 11 12 Topic Certificate Acknowledgements List of Tables List of Figures List of Symbols List of Abbreviations Chapter-1: Profile of the Firm/Company Chapter-2: SWOT Analysis of the Company Chapter-3: Analysis of Financial Reports of the Company Chapter-4: Lessons Learnt References/Bibliography Appendices Page No -

FORMAT FOR LIST OF TABLES/FIGURES/ SYMBOLS/ABBREVIATIONS LIST OF TABLES Table No 1 2 Title Number of Employees in Page No

LIST OF FIGURES Figure No 1 2 Title Sales Figures of ABC Company for FYs 2008-20011 Page No

INTRODUCTION

ABOUT US

CHAPTER - 1 1. NAME - Minda Autocare Ltd. Address: 301/223, Main Road, Mukundpur New Delhi 110042, INDIA Phones: +91-11-30073800, 30073900 Fax : +91-11-27618018 Email : queries@mindaautocare.com

2. NATURE
The Rs 3000 Cr Minda Group today is one of India's leading auto component manufacturers, supplying a wide range of products to OEMs in India as well as globally. The Group has collaborations & Joint Ventures with world leaders, and a product range comprising over 4700 SKUs spread across various product categories, suitable for a wide range of vehicular as well as non-vehicular and off the road applications. Products are manufactured in world class facilities spread across India, Indonesia, Australia and Germany, and supported by representative offices in Europe, China, Japan and Vietnam. Way back in 1985, MACL (the then Switch Masters Limited) was formed with core objective of creating a distribution network in the country, spanning range of products and services in the auto parts after market. The key objective was to drive this organization as marketing & distribution arm of Minda Group Our vision was to build a distribution network to be recognized as benchmark in the replacement market for automotive products and services.

Given the inherent threats in the domestic after market by way of continuous improvement of quality, enhanced warranties by Auto Companies, and focused thrust by OE, SPDs in this segment, MACL focused on development of Distribution Network, development of Human Resource and suitable organization structure, introduction of efficient & market friendly as well as highly disciplined sales policies

encompassing all the facts of the business model thereby, making MACL preferred choice for Minda range of products and services. MACL Policies developed and improved over last few decades, focused on bringing in paradigm shift in demand generation through creation of relationship with 11000 strong Tier-2 and Tier -3 partners across length and breadth of the country. The present focus is on creating a service network of 500 Mac-Points across the country within next 2 years and achieve the distinction of preferred service provided both by OEMs as well as after market. As automobile market started showing signs of robust growth since beginning of current decade, MACLs focussed activities started yielding magnificent results and started growth Year on Year @ 24% from 2003-04 till 2007-08 and @ 34% Year on Year since then till then the current year.

MACL strives to project an image of high quality product manufacturer and believes in fair transparent & ethical business practices and hence enjoy a strong presence in auto components after market.

MACL strives to project an image of high quality product manufacturer and believes in fair transparent and ethical business practices and hence enjoy a strong presence in auto components after market.

3. COMPANYS VISION AND MISSION

3.1 VISION To be most dynamic marketing and distribution organization in the aftermarket of automotive component industry in India and to create an efficient service organization for our customers delight and continuously add value to our group companies by enhancing their profitability and share of business.

3.2 MISSION To understand customers need in an evolving and emerging environment. To strive to improve upon mission 10 X 10 and make it 10 X 8 (500 Crores) thereby multiplying turnover ten times in eight years from 2004-05 instead of ten years. To create a strong Pan India distribution network which can be a benchmark in our industry.

To design and establish unique and robust logistic infrastructure so as to optimize speed quality, and speed, quality and cost of delivery. To develop a service network capable of taking care of customers service needs with speed and quality for delight of our Business Partners and Institutional customers. To nurture human values so as to build a respectable organization consisting of dedicated and motivated employees.

4. PRODUCTS
SWITCHES: Switches for 2/3/4 wheeler and Off the road vehicles are designed ,developed and manufactured at Minda Industries Ltd. Minda enjoys 70% market share in 2/3 wheeler segment in India and is amongst the top few globally .The product for 2/3 wheeler are manufactured at Pune, Aurangabad, Manesar and Pantnagar and are being supplied to major OEMs of India. The company has received ISO 9001, ISO 14001 & OHSAS 18001 certification. The company has received CII Exim Bank Business Excellence Award. Body Control Unit is the patented product which has been developed for Bajaj Auto Ltd. The product range in 2wh includes Handle Bar Switch, Handle Bar, Lever & Holder Assembly, Brake Switch, Modular Switch & Panel Switch (Neutral Switch). The 4 wheeler switches are designed and developed at Mindarika Pvt. Ltd. The strength of Mindarika are skilled manpower, adherence to the highest quality standards and providing cost effective solutions. The products manufactured are Lever Combination Switch, Panel Switch, Power Window Switch, Oil Pressure Switch, Backup Lamp Switch, and Hazard Warning Switch. The company has a joint venture with Tokairika, Japan and has received ISO 9001, ISO 9002 & QS 9000 certification. The company has received Marutis Best Performance Award, Marutis Manufacturing Excellence Award, Best Cost Performance from TKML. Switches are also exported to Japan & USA for various 4 Wheeler manufacturers and to major OEM suppliers in India. The product categorizations of Switches are as follows: 2 WHEELERS

> Handle Bar System Assembly > Handle Bar Switches > Electronic Systems (Self Cancellation)

4 WHEELERS > Lever Combination Switch > Panel Switch > Power window Switch > Oil Pressure Switch

LOCKS:

One of the largest manufactures of 2/3/4 wheeler and Off the Road vehicles, Electronic & Mechanical Security System to Indian OEMs. 20% of the products are exported to UK, Europe & South East & Asean countries.

The only company in India to have its patented magnetic shutter for 2W application .The plants are situated at various locations in India at Uttranchal , Greater Noida, Aurangabad & Pune. The plants are ISO / TS 16949 , IS 14000 certified. Major customers are OEMs of India. Minda has a 50 : 50 joint venture with Valeo Security System, France for the 4W business with head quartered at Pune. The range of product covers Remote keyless Antenna, Immobilizer , Outside Door Handles ,Pull Type Door handle , Side Door Latches with quality certification like ISO/TS 16949/2000. 4wh lock has received Q1 status from Ford. The customer base are namely Renault, Nissan, VolksWagon ,Hyundai & Jaguar LandRover. The product categorizations of Locks are as follows:

> Steering Lock Cum Ignition Switch > Door Locks > Hatch Back Locks > Door Handles > Seat Locks > Dickey Locks > Fuel Tank Caps

> Roof / Cycle Racks Locks > Immobilizer Alarms > Electronic Security System

LAMPS: Minda lndustries Lighting division develop, manufacture world class lighting products for 2/3/4 wheeler, Off the road and Commercial vehicles. The production facilities are based at Manesar, Pune, Sonepat and Haridwar. The product ranges available are Headlamps, Tail Lamps, Fog Lamps, Side Lamps etc. Specilization of Minda is for "Concurrent Engineering" where the customer develops new design of vehicles, Minda assists in simultaneously engineering and designing the lighting products which are also modeled and prototyped. The product categorizations of Lamp are as follows: >Head Lamps > Tail Lamps > Side Indicator Lamps > Front Fog Lamps > Rear Fog Lamps > Warning Triangles > High Mounted Stop Lamps > Wok Lamps ( Plough Lamps) > Interior Lamps > License Plate Lamps > Trunk roof Lamps > Rear Combination Lamps > Front Turn Lamps > Blinkers / Indicators

HORNS: Minda Acoustics Limited is a group Company producing 12 million horns annually for 2/3 & 4 wheelers The products are manufactured at Manesar and Pantnagar. Today, Minda Acoustic Limited is the leading player in the Indian automotive horn

industry manufacturing globally competitive products in the automotive horn industry. The products are manufactured at Manesar and Pantnagar. It is TS 16949:2002 and ISO 14001 certified & have Highly motivated and committed team to ensure fast ramp up and response to the customer. Leading Customers are Ford, Maruti , Skoda, BMW, Ashok Leyland, Piaggio , Torica , Suzuki Japan, Q certified by Ford, Italy . The product range in Horns are : > AC/DC Horns > Disc Horns > Vibrasonic Horns > Trumpet Horns / Wind tone Horns > Pipe Horns

WIRING HARNESSES: Leading Manufacturer of broad range of Wiring Harness, Battery cables, wiring sets , Connectors & Terminal for Commercial Vehicles , Utility vehicles, 2/3 wheeler, Tractors and Off the Road vehicles. The manufacturing locations are Greater Noida, Murbad(Mumbai), Kakkalur (Chennai) & Pithampur(Indore). Wiring division is a TS 16949 & ISO 14001 certified company. The product categorizations of Wiring Harness are as follows: > Wiring Harnesses for 2wh, 3wh, 4wh and Tractors > Terminals > Housings Couplers > Fuse Boxes for 4wh and Tractors

INSTRUMENT PANELS: The product is manufactured at Minda Stoneridge Instruments Ltd. which is a joint venture with Stoneridge Incorporation, USA with manufacturing unit at Pune & Pantnagar in India and have a license for manufacturing in 17 Asian countries. There is a range of products for 2/3 wheeler, Commercial vehicles, Utility vehicles, Cars & Sensors. Major customers are Bajaj Auto, Mahindra & Mahindra , Yamaha , Piaggio ,Tata Motors , Daewoo & GM, Ashok Leyland , Escorts, TAFE . Company

has been awarded EMS 1400, OHSAS 18001 certification ,TS 16949 and ISO9001. The product categorizations of Instruments are as follows: > Clusters for 2/3/4 wheeler and Off the Road vehicles. > Round Gauges for Tractors. > Tank Units for 2/3/4 wheeler and Tractors. > Child Parts for Clusters ( Speedometers , RPM , Hour , Fuel Meters). > Speed Sensors.

ACCESSORIES: Complete Accessory Product range is manufactured at Minda Corporation Limited. Minda Corporation Limited is a diversified company with a product port folio encompassing from Mechanical & Electronic Security System, Door System, Electronic Controllers for Electric Vehicles, Plastic Interiors and for Auto OEMs across the Globe. It also manufactures Die Casting Parts and high class Surface Finishing parts for auto and consumer durable industry. Minda Corporation Limited is one of the largest manufacturers of 2/3/4 wheeler and Off the Road vehicles, Electronic & Mechanical Security System to Indian OEM's. It exports about 20% of its products to USA, UK, Europe & South East Asia and ASEAN countries. Minda Corporation Limited manufactures Window Regulator in India for renowned Indian OEM's with Technical Assistance from CASTELLON SA, Spain. Complete range of 4W Electronic Security Systems, 2W ESS, Gear Locks & Power Windows are manufactured under one roof at state of art production facility at Pant Nagar. MCL Pant Nagar is a dedicated plant to manufacture all accessory related items for MACL & has all facilities from development to testing of final products for ISO standards The product categorizations of Accessories range are as follows:

2 WHEELER > Remote Central Locking AutoSAFE. > Wheel Lock & Helmet Lock.

4 WHEELER > Gear Shift Lock.

> Power Window Regulator. > Remote Central Locking System.

BATTERIES: Minda Vroom Batteries are manufactured on a state of the art fully automatic assembly line with advanced technology, ensuring optimum performance, long life & reliable operation. The product is manufactured at Minda Industries Ltd. (Battery Division) with manufacturing unit at Pantnagar. The plant is TS 16949:2002 certified. Within a short span of two years the product is OE to Bajaj Auto Ltd, Yamaha Motors, Honda Motorcycle & Scooters India & Maruti, which shows the confidence of OE and depicts the quality of product. The product categorizations of Battery are as follows:

2 WHEELER > Long Life > Maintenance Free > Time Proof (VRLA)

4 WHEELER > Vroom 24 > Vroom 36 > Vroom 48

5. GROUP COMPANIES Minda Acoustic Limited Minda Auto Gas Limited Minda Automotive Solutions Minda Corporation Limited Minda Furukawa Electric Pvt. Limited Minda Industries Limited

Minda KTSN Plastic Solutions Minda Management Services Limited Minda Rika Pvt. Limited Minda Sai Limited Minda Stoneridge Instruments Limited Minda Valeo Security Systems Pvt. Limited Minda Vietnam Company Limited Minda International Limited Minda Schenk Plastic Solutions P T Minda Asean Automotive

6) ORGANISATION STRUCTURE The structure can be explained as under :

The minda autocare company ltd. Is a company that has acquired its position in automobile industry at a very fast pace. It is now recognized as multi product and multi location group. It has an annual turnover of $600 million in 2010-2011 It has 36 plants in india ,3 in Germany, 1 in Czech republic, 1 in Poland , 1 in Indonesia, 1 in veitnam, 1 in Uzbekistan, office in Europe and japan. The more sales growth can be explained with following figure :
900 800 600 700 600 500 400 300 200 72.5 100 0
2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12

800

340

240 172 165 105 117.5

25.75 31.25

49.5

8) PRESENT LEADERSHIP The present leadership in the hands of Mr. A.K. Minda He is the owner and chairman of the company .

Mr. Ashok minda (Managing Director)

Mr. Sameer Gupta (Board of Directors)

Mr. narender saxena (Board of Directors)

Mr. Amit Jain (Chief Executive Officer)

Mr. Harish Kumar (Chief Operating Oficer)

Mr. Rakesh Jhori (Head of Depatment)

Mr. Ajay Kumar Jain (Chartered Accountant)

Mr. Girish

Mr. Umang

(Accountant) (Taxation Department)

9. SOURCES OF DATA COLLECTION


Primary as well as secondary data for will be used for research study.

Primary sources:
Primary data will be collected through interviewing, administering questionnaires and observing people and phenomena.

Secondary Sources:
Secondary data will be collected through internet and various magazines.

Sampling
Convenient sampling study will be used, market of Delhi as well as NCR will be divided in four zones, interviews in each zone will be conducted collection of data.

Sample size
I adopted a detailed procedure for preparing the project report on critically analyzing Minda Autocare Limited. This includes tackling situations while gathering the relevant information. A list of the names of the executives to be contacted was prepared Various places from where the data could be available were noted down. To support the findings & give meaning to the project report a list of various sources were planned out. Data was collected through Secondary sources such as Magazines; Performas and Reports of the Company. Questionnaires prepared to collect feedback from Dealers, Franchisees, and Customers. Analysis of the Questionnaires to be done to get the final findings and recommendations.

SWOT ANALYSIS OF THE COMPANY

SWOT ANALYSIS
STRENGHTS
REPUTATION IN MARKET PLACE. EXPERTISE IN HRM AT PARTNER LEVEL

WEAKNESS
SHORTAGE OF CONSULTANTS AT OPERATING LEVEL RATHER THAN PARTNER LEVEL. UNABLE TO DEAL WITH MULTI DISCIPLIANRY ASSIGNEMNTBECAUS E OF SIZE OR ALCK OF ABILITY

OPPORTUNITIES
WELL ESTABLISHE MARKET POSITION WITH A WELL DEFINED MARKET NICHE. IDENTIFIED MARKET FOR CONSULTANICES IN AREAS OTHER THAN HRM.

THREATS
LARGE CONSULTANICES OPAERATING AT A MINOR LEVEL. OTHER SMALL CONSULATANCIES LOOKING TO INVADE MARKET PLACE.

2.SWOT ANALYSIS
SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. The technique is credited to Albert Humphrey, who led a convention at Stanford University in the 1960s and 1970s using data from Fortune 500 companies. A SWOT analysis must first start with defining a desired end state or objective. A SWOT analysis may be incorporated into the strategic planning model. Strategic Planning has been the subject of much research.

Strengths: characteristics of the business or team that give it an advantage over others in the industry.

Weaknesses: are characteristics that place the firm at a disadvantage relative to others.

Opportunities: external chances to make greater sales or profits in the environment.

Threats: external elements in the environment that could cause trouble for the business.

Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs. First, the decision makers have to determine whether the objective is attainable, given the SWOTs. If the objective is NOT attainable a different objective must be selected and the process repeated. The SWOT analysis is often used in academia to highlight and identify strengths, weaknesses, opportunities and threats. It is particularly helpful in identifying areas for development.

ANALYSIS OF FINANCIAL REPORTS

1.

Current Ratio
The ratio is mainly used to give an idea of the company's ability to pay back its short-term liabilities (debt and payables) with its short-term assets (cash, inventory, receivables). The higher the current ratio, the more capable the company is of paying its obligations

Current Ratio = Current Assets Current Liabilities

2009 (in cores) 253.38 20.39 = 12.43:1

2010 (in cores) 205.75 36.48 = 5.64:1

Current Ratio
14 12 10 8 6 4 2 0 2009 2010 Current Ratio

Interpretations

The ratio is mainly used to give an idea of the company's ability to pay back its shortterm liabilities (debt and payables) with its short-term assets (cash, inventory, receivables). The higher the current ratio, the more capable the company is of paying its obligations.

The ideal current ratio should be 2:1, but Minda autocare Ltd. has had a current ratio of more than 2:1 in both the years thus showing that the company is in a very good position. 2. Quick Ratio An indicator of a company's short-term liquidity. The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. The higher the quick ratio, the better the position of the company. Quick Ratio = Quick Assets Current Liabilities

2009 (in cores) 93.12 + 89.24 20.39 = 8.94:1

2010 (in cores) 26.33+78.80 = 36.48 2.88:1

Quick Assets=Cash + Other CA

Quick Ratio
10 9 8 7 6 5 4 3 2 1 0 2009 2010 Quick Ratio

Interpretations
This is obviously a good position for the firm to be in. It can meet its short-term debt obligations with no stress. If the quick ratio was less than 1, then the firm would have to sell inventory to meet its obligations so, a quick ratio great than 1 is better than a quick ratio of less than 1 with regard to maintaining liquidity and not being forced into the position of having to sell inventory. 3. Debt-Equity Ratio The debt-equity ratio is another leverage ratio that compares a company's total liabilities to its total shareholders' equity. This is a measurement of how much suppliers, lenders, creditors and obligors have committed to the company versus what the shareholders have committed.

Debt-Equity Ratio

Debt (long term) Equity (shareholders fund)

2009 (in cores)

137.24 183.70

0.75

2010 (in cores) 107.07 196.18 Equity = 0.55

Equity share capital + Preference Share capital + reserves and surplus Fictitious assets

Debt-Equity ratio
0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 2009 2010 Debt-Equity ratio

A high debt/equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

Interpretations
If a lot of debt is used to finance increased operations (high debt to equity), the

company could potentially generate more earnings than it would have without this outside financing. If this were to increase earnings by a greater amount than the debt cost (interest), then the shareholders benefit as more earnings are being spread among the same amount of shareholders.

Ideal ratio should be 2:1.Lower the ratio, higher the degree of protection enjoyed by lenders.

4.

Fixed Assets Turnover Ratio


A financial ratio of net sales to fixed assets. The fixed-asset turnover ratio measures a company's ability to generate net sales from fixedasset investments - specifically property, plant and equipment (PP&E) net of depreciation. A higher fixed-asset turnover ratio shows that the company has been more effective in using the investment in fixed assets to generate revenue

Fixed Assets Turnover Ratio

Net sales Net Fixed Assets

2009 (in cores) 388.70 38.14 = 10.19

2010 (in cores) 377.78 69.66 = 5.4

Net Fixed Assets

Fixed assets-Depreciation

Fixed Assets Turnover Ratio


12 10 8 6 4 2 0 2009 2010

Fixed Assets Turnover Ratio

This ratio is often used as a measure in manufacturing industries, where major purchases are made for PP&E to help increase output. When companies make these large purchases, prudent investors watch this ratio in following years to see how effective the investment in the fixed assets was.

Interpretations
A high ratio indicates efficient utilization of fixed assets.

5.

Net Profit Ratio

Net Profit Ratio

2009 (in cores) 10.26 *100 = 2.63 %

388.70 2010 (in cores) 15.68 377.78 *100 = 4.15 %

Net Profit Ratio


4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 2009 2010 Net Profit Ratio

. Net profit ratio is the ratio of net profit (after taxes) to net sales. It is expressed as percentage.

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.

Interpretations
Higher the ratio the better is the profitability.

6.

Return on Investment Ratio

A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. To calculate ROI, the benefit (return) of an investment is divided by the cost of the investment; the result is expressed as a percentage or a ratio. Return on Investment Ratio = Net Income Total Assets

2009 (in cores) 10.26 320.93 = .031

2010 (in cores) 15.68 303.25 = 0.51

Return on Investment Ratio


0.6 0.5 0.4 0.3 0.2 0.1 0 2009 2010

Return on Investment Ratio

Interpretations
Return on equity, explained as a measure of how well a company uses investment dollars to generate profits, is more important to a shareholder than return on investment (ROI). It tells investors how effectively their capital is being reinvested. A company with high return on equity is more successful to generate cash internally. Investors are always looking for companies with high and growing returns on equity.

7.

Return On Equity
The amount of net income returned as a percentage of shareholders equity. Return on equity measures a corporation's profitability by revealing how much profit a company generates with the money shareholders have invested.

Return on Equity

Net Income Average Shareholders Equity

2009 (in cores) 10.26 183.70 = 0.05

2010 (in cores) 15.68 196.18 = 0.07

Return on Equity
0.08 0.07 0.06 0.05 0.04 0.03 0.02 0.01 0 20091 2010 Return on Equity

Interpretations
This ratio is more meaningful to the equity shareholders who are interested to know profits earned by the company and those profits which can be made available to pay dividends to them. Interpretation of the ratio is similar to the interpretation of return on shareholder's investments and higher the ratio better is. In year 2009 the ratio was 0.05 which increased to 0.07 in the year 2010, hence company is in a better position.

Limitations of Study:
However I have tried my best in collecting the relevant information yet there always use to present some limitations under which researcher have to work. Here following are some limitations under which I had to work: 1. This study of evaluating financial performance has same limitations as of ratio analysis i.e. 1.1 Difficulty in comparison. 1.2 Impact of inflation. 1.3 Conceptual diversity. 2. Non coverage of certain aspects (Due to confidential nature of some documents). 3. Lack of knowledge and experience. 4. Problem of window dressing. 5. Difficult to understand information provided in annual reports. 6. Time constraint.

Balancesheet Minda autocare Ltd. Particulars Liabilities Share Capital Reserves & Surplus Net Worth Secured Loans Unsecured Loans TOTAL LIABILITIES Assets Gross Block (-) Acc. Depreciation Net Block Capital Work in Progress. Investments. Inventories Sundry Debtors Cash And Bank Loans And Advances Total Current Assets Current Liabilities Provisions Total Current Liabilities NET CURRENT ASSETS Misc. Expenses TOTAL ASSETS (A+B+C+D+E) 76.57 6.92 69.66 20.12 43.51 59.22 41.41 26.33 78.80 205.75 27.57 8.91 36.48 169.27 0.69 303.25 43.00 4.86 38.14 4.26 45.55 31.21 39.81 93.12 89.24 253.38 17.49 2.91 20.39 232.99 0.00 320.93 Mar'10 12 Months 20.30 175.89 196.18 107.07 0.00 303.25 Mar'09 12 Months 20.30 163.40 183.70 137.24 0.00 320.93

in Rs. Cr.

Mar'08 12 Months 17.12 50.04 67.16 54.72 12.92 134.81

Mar'07 12 Months 3.20 12.32 15.52 40.54 4.83 60.89

Mar'06 12 Months 3.12 5.84 8.96 23.81 3.20 35.96

27.26 3.88 23.38 0.09 2.97 52.41 40.10 4.99 42.63 140.13 17.15 14.63 31.77 108.36 0.00 134.81

20.07 2.95 17.12 0.00 0.00 32.39 21.54 0.86 8.69 63.49 14.32 5.39 19.71 43.77 0.00 60.89

12.23 2.71 9.52 0.00 0.00 19.17 14.56 0.69 6.45 40.87 12.77 1.65 14.42 26.44 0.00 35.96

Profit & Loss - Minda autocare Ltd. Mar'10 Mar'09

in Rs. Cr.

Mar'08

Mar'07

Mar'06

12 Months 12 Months 12 Months 12 Months 12 Months INCOME: Sales Turnover Excise Duty NET SALES Other Income TOTAL INCOME EXPENDITURE: Manufacturing Expenses Material Consumed Personal Expenses Selling Expenses Administrative Expenses Expenses Capitalised Provisions Made TOTAL EXPENDITURE Operating Profit EBITDA Depreciation Other Write-offs EBIT Interest EBT Taxes Profit and Loss for the Year Non Recurring Items 7.30 319.85 3.19 12.47 3.36 0.00 0.00 346.19 31.59 38.43 2.48 0.17 35.78 11.71 24.07 8.39 15.68 1.69 5.73 351.39 1.75 12.13 3.25 0.00 0.00 374.26 14.45 23.40 1.29 0.00 22.11 8.74 13.37 3.11 10.26 -10.17 4.28 231.78 1.15 11.32 1.46 0.00 0.00 250.00 27.47 30.09 0.93 0.00 29.16 5.16 24.00 8.30 15.71 -0.4 2.87 174.46 1.04 8.33 1.71 0.00 0.00 188.41 12.80 13.89 0.69 0.00 13.20 3.59 9.61 3.55 6.06 0.70 2.41 128.93 0.46 6.70 2.04 0.00 0.00 140.54 4.33 5.25 0.55 0.00 4.69 2.39 2.30 0.86 1.44 -0.0 407.26 29.48 377.78 0.00 384.62 424.37 35.67 388.70 0.00 397.66 316.84 39.37 277.47 0.00 280.10 229.01 27.80 201.21 0.00 202.29 164.99 20.12 144.87 0.00 145.78

Other Non Cash Adjustments Other Adjustments REPORTED PAT KEY ITEMS Preference Dividend Equity Dividend Equity Dividend (%) Shares in Issue (Lakhs) EPS - Annualised (Rs)

-0.1 0.00 17.24

-0.0 0.00 0.06

-0.0 0.00 15.24

-0.0 0.00 6.75

0.00 0.00 1.40

0.00 4.06 20.00 202.97 8.49

0.00 0.00 0.00 202.97 0.03

0.00 0.00 0.00 106.77 14.27

0.00 0.32 10.00 31.98 21.10

0.00 0.00 0.00 31.18 4.48

Cash Flow

in Rs. Cr

Mar '10 12 mths Net Profit Before Tax Net Cash From Operating Activities Net Cash (used in)/from Investing Activities Net Cash (used in)/from Financing Activities Net (decrease)/increase In Cash and Cash Equivalents Opening Cash & Cash Equivalents Closing Cash & Cash Equivalents 23.48 8.68 -28.38 -47.10 -66.79 93.12 26.33

Mar '09 12 mths 8.79 -3.32 -65.74 157.19 88.14 4.99 93.12

Mar '08 12 mths 23.61 -28.43 -20.58 53.13 4.13 0.86 4.99

Mar '07 12 mths 10.31 -10.54 -7.84 18.37 0.17 0.69 0.86

Mar '06 12 mths 2.26 -6.48 -1.20 6.28 -1.40 2.09 0.69

LESSONS LEARNT

In the two months of Summer Internship, the experiences with the trainer Mr. Manishankar had been great with lot of valuable learning activity taking place.

With the classroom training method or coaching method we were given the knowledge about the different PVC Products. Information and knowledge about different accounts and their benefits had been taught to us like TALLY Software/Course. Irrespective of the heavy work load they took out some time to provide us with useful knowledge.

Practical Knowledge Gained

I was in HR and Accounts department and all I have to do is rectifying past HR files and accounts To be more specified,
1. To find out all the differences between the books of Head Office Accounts and Branch office Accounts. 2. If theres any difference then finding out the source of mistake.

3.

Finally to rectify it.

I have gained a lot from this two months internship, like:


I can read n write practical accounts. I know how to operate TALLY ( Accounting Software ) I know how to rectify errors and eliminate differences form the books of accounts. I have experienced the essence of work and its load. I know how to arrange all the files and their employees respective acc. For their welfare.

So overall I dint lose anything but gained a good amount of Experience from this 1 months of internship with MINDA AUTOCARE LTD.

Internships is a very good way of getting firsthand experience, but it is also a reliable way of Finding out about the intended career.

Difficulties Faced
The internship doesn't meet my expectations.

The one thing in my mind before going for the internship was, to gain experience but internship doesn't meet my expectations as my seniors were less willing to provide me with experience.
Heavy work load

Work load was much, which was not expected. They told me to rectify previous books of accounts without giving me required knowledge about past account, which made the task more difficult.
Very low Stipend

The company dint gave me good stipend package. I was not able to recover even my conveyance charges, which was a bit depressing.
Lack of Experience

Interns are often college studentswho will be looking for college creditor those who are switching careers and need some help adding to their resume and getting their foot in the door. The same thing was in my mind and because of that I was not able to gain much from the company.
Lack of Responsibility and Trust.

Mr. Ajay Jain (Accountant) showed a lesser trust in me, because I was new and more over a intern in the company, so less of responsibility was given to me.

FINDINGS:

The company has weak organizational climate The organization has clearly defined responsibilities to all its employees There is a negative effect found of the organizational policies. This might appear to be contradictory to the general management practice. But this might be interpreted as indicating as various new initiatives are being taken and new policies made, this is taking its toll on the affected people or work areas. This may also mean that the staff is not fully identifying with these changes. The employees are very much satisfied with the work environment provided to the employees. The organization was capable of providing work-life balance to its employees.

RECOMMENDATIONS:
Management can improve the satisfaction of workers by enng impartiality and fairness in the disciplinary action proceedings It should also share information in more open way with staff and reach out to the staff members by making the communication channels more effective. Encouragement by superior and superiors owning up the development of subordinates. The management should focus on imparting training to develop leadership skills among the employees. The management should benchmark the pay and benefits with the competitive industries. If Minda Autocare wants to make an immediate impact on the staff

satisfaction, it has to ensure: Retaining talented people Any festival should witness involvement of maximum employees across strata. Communication by the management needs to reach out to the staff at all levels.

CONCLUSION
The investment objective of the Portfolio is to generate long term capital appreciation from a portfolio of equity and equity linked instruments. The investment portfolio for equity and equity linked instruments is primarily drawn from the banks in the BSE 30- Index. As observed, the portfolio is undiversified as the Minda Autocare included are from a single sectors viz. Banking. Thus the risk can not be diversified to a large extent. Moreover it is also observed that the returns from the Portfolio are on the tracks. Initially for some period the Portfolio did not give as good returns as the Index i.e. BSE 30 but after sometime the returns generated by the fund outperformed the Index Returns. After that a very heavy fall in the return of index as well as portfolio was seen.

BIBLIOGRAPHY

WEBSITES
http://www.mindaautocare.com http://www.moneycontrol.com/india/stockpricequote/autoancillarie s/mindaindustries/MI4 http://www.scribd.com/doc/39788795/MInda-Group http://en.wikipedia.org/wiki/Minda

MAGAZINE
India today, 5TH Edition 2010 The outlook, 64th edition 2011 Business world 32nd edition 2009

BOOKS

Arora M.N., Management accounting , theory , problems and solutions, , Himalaya publishing house , Mumbai , 2009. Khan M.Y. , Jain P.K. , Financial management, eighth edition, Tata Mcgraw hill publishing company ltd. New delhi , 2009.