INTRODUCTION

INTRODUCTION
HISTORY OF INSURANCE Insurance is a subject listed in the Union list in the Seventh Schedule to the Constitution of India where only centre can legislate. The insurance sector has gone through a number of phases by allowing private companies to solicit insurance and also allowing foreign direct investment of up to 26% (as of 2 !" there have been proposals to e#tend the $%& upto '(% to strengthen the &nsurance )ar*et even further+ the insurance sector has been a booming mar*et. ,owever- the largest life.insurance company in &ndia- Life Insurance Corporation of India is still owned by the government. HISTORY &n &ndia- insurance has a deep.rooted history. &nsurance in various forms has been mentioned in the writings of Manu ()anusmrithi+- Yagna a!"#a (%harmashastra+ and $auti!#a (/rthashastra+. The fundamental basis of the historical reference to insurance in these ancient &ndian te#ts is the same i.e. pooling of resources that could be re.distributed in times of calamities such as fire- floods- epidemics and famine. The early references to &nsurance in these te#ts have reference to marine trade loans and carriers0 contracts. &nsurance in its current form has its history dating bac* until !1!1- when Orienta! Life Insurance Co%pan# was started by /nita 2havsar in $o!"ata to cater to the needs of 3uropean community. The pre.independence era in &ndia saw discrimination between the lives of foreigners (3nglish+ and &ndians with higher premiums being charged for the latter. &n !14 - 2ombay )utual 5ife /ssurance Society became the first &ndian insurer. /t the dawn of the twentieth century- many insurance companies were founded. &n the year !(!2- the 5ife &nsurance 6ompanies /ct and the 7rovident $und /ct were passed to regulate the insurance business. The 5ife &nsurance 6ompanies /ct- !(!2 made it necessary that the premium.rate tables and periodical valuations of companies should be certified by an actuar#. ,owever- the disparity still e#isted as discrimination between

&ndian and foreign companies. The oldest e#isting insurance company in &ndia is the Nationa! Insurance Co%pan#- which was founded in !( 6- and is still in business. The 8overnment of &ndia issued an 9rdinance on !( :anuary !(;6 nationalising the 5ife &nsurance sector and 5ife &nsurance 6orporation came into e#istence in the same year. The 5ife &nsurance 6orporation (5&6+ absorbed !;' &ndian- !6 non.&ndian insurers as also 4; provident societies<2'; &ndian and foreign insurers in all. &n !(42 with the 8eneral &nsurance 2usiness (=ationalisation+ /ct was passed by the &ndian 7arliament- and conse>uently- 8eneral &nsurance business was nationali?ed with effect from ! :anuary !(4". ! 4 insurers were amalgamated and grouped into four companies- namely =ational &nsurance 6ompany 5td.- the =ew &ndia /ssurance 6ompany 5td.- the 9riental &nsurance 6ompany 5td and the United &ndia &nsurance 6ompany 5td. The 8eneral &nsurance 6orporation of &ndia was incorporated as a company in !(4! and it commence business on :anuary !- !(4". The 5&6 had monopoly till the late ( s when the &nsurance sector was reopened to the private sector. 2efore that- the industry consisted of only two state insurers@ 5ife &nsurers (Life Insurance Corporation of India - 5&6+ and 8eneral &nsurers (&enera! Insurance Corporation of India- 8&6+. 8&6 had four subsidiary companies.Aith effect from %ecember 2 - these subsidiaries have been de.lin*ed from the parent company and were set up as independent insurance companies@ Orienta! Insurance Co%pan# Li%ited- Ne' India Assurance Co%pan# Li%ited- Nationa! Insurance Co%pan# Li%ited and United India Insurance Co%pan# Li%ited. INDUSTRY STRUCTURE 6urrently &ndia is a USB'! billion industry. 6urrently- in &ndia only two million people ( .2% of the total population of ! billion+ are covered under )ediclaim- whereas in developed nations li*e US/ about 4;% of the total population are covered under some insurance scheme. Aith more and more private companies in the sector- the situation may change soon. 3686- 3S&6 and /&6 provide insurance services for niche mar*ets. So- their scope is limited by legislation but enjoy some special powers.

LEGAL STRUCTURE The insurance sector went through a full circle of phases from being unregulated to completely regulated and then currently being partly deregulated. &t is governed by a number of acts. The &nsurance /ct of !("1()* was the first legislation governing all forms of insurance to provide strict state control over insurance business.5ife insurance in &ndia was completely nationali?ed on :anuary !(- !(;6- through the 5ife &nsurance 6orporation /ct. /ll 2'; insurance companies operating then in the country were merged into one entity- the Life Insurance Corporation of India. The 8eneral &nsurance 2usiness /ct of !(42 was enacted to nationalise the about ! general insurance companies then and subse>uently merging them into four companies. /ll the companies were amalgamated into =ational &nsurance- =ew &ndia /ssurance- 9riental &nsurance and United &ndia &nsurance- which were head>uartered in each of the four metropolitan cities.Until !(((- there were no private insurance companies in &ndia. The government then introduced the &nsurance Cegulatory and %evelopment /uthority /ct in !(((- thereby de.regulating the insurance sector and allowing private companies. $urthermore- foreign investment was also allowed and capped at 26% holding in the &ndian insurance companies. &n 2 6- the /ctuaries /ct was passed by parliament to give the profession statutory status 6rore+

on par with 6hartered /ccountants- =otaries- 6ost D Aor*s /ccountants- /dvocates/rchitects and 6ompany Secretaries./ minimum capital of USB1 million(Cs.' is re>uired by legislation to set up an insurance business. AUTHORITIES The industry recognises e#aminations conducted by &/& (for actuaries+- &&& (for agentsbro*ers and t+ird,part# ad%inistrators+ and &&&S5/ (for surveyors and loss assessors+. T/6 is the sole data repository for the non.life industry.&2/& gives voice for bro*ers while 8& 6ouncil and 5& 6ouncil are platforms for insurers./&8&3/- /&&3/- /&&3$- /&5&63$-

/&5&3/- $5&69/- 8&3/&/- 8&3U and =$&$A& cater to the employees of the insurers.&n addition- there are a do?en 9mbudsman offices to address client grievances. INSURANCE EDUCATION Nationa! Insurance Acade%#- 7une- has a "2 acre campus D ; .plus faculty- speciali?ed in teaching- conducting research and providing consulting services in the insurance sector. =&/ offers a two year 78%) program in insurance. =&/ was founded as )inistry of $inance initiative with capital support from the then public insurance companies- both 5ife (5&6+ and =on.5ife (8&6- =ational- 9riental- United D =ew &ndia+. A%it# Sc+oo! of Insurance -an"ing and Actuaria! science .ASI-AS/ of /mity University- located in =oida and established in 2 - offers )2/ programs in &nsurance- &nsurance and 2an*ingand ).Sc.E2.Sc. actuarial sciences to a 7ost 8raduate %iploma in /ctuarial Sciences. 79=%&6,3CCF U=&G3CS&TF is offering mba in insurance management. pondicherry university only the central university which offering insurance management in &ndia -ir!a Institute of Manage%ent Tec+no!og# is a graduate business school located in 8reater =oida- established in !(11- offers a 78%).&2) program in insurance business management.This program was launched in 2 by the 6entre for &nsurance and Cis* )anagement and is accredited by the Insurance Regu!ator# and De e!op%ent Aut+orit#. 5ife 9ffice )anagement /ssociation (LOMA+-US/ is 2&)T36,0s educational partner and 2&)T36, is an approved centre for 59)/ e#amination. The C+artered Insurance Institute(6&&+- UH has accorded recognition (by way of credits+ to the 2&)T36, 78%).&2) program.Their two year 78%) program in insurance business has been recogni?ed as e>uivalent to the /ssociate level of the Insurance Institute of India0 Mu%1ai.=5U- :odhpur- offers a two year )2/ and one year )S (for engineering graduates+ program in insurance.&C%/ controls all the &nsurance business in &ndia.They are setting structure and boundaries for the insurance companies to act within. Starting from licensing to approving the products- &C%/ directs the companies in &ndia. They also protect customer interests in the country.

/s per current guidelines issued by &C%/- &nsurance 6ompanies are not permitted to invest in &ndian %epository Ceceipts ( &%C+- while they are permitted to invest in 3>uity sharesE 2ondsE %ebentures. &C%/ needs to remove this disparity to open up investment opportunity by &ns 6ompanies and thereby also enhance the li>uidity of &%Cs ( 6ontributed by Sanjay 2an*a- $6/ $6S+ To become an insurance advisor in &ndia insurance act !("1 mandates that the individual has to be )ajor with sound mind. /fter the advent of &C%/ as &nsurance Cegulator &C%/ has framed various regulations vi? training hours- e#amination- fee etc. which are amended from time to time. Since =ovember 2 !! &C%/ the &nsurance Cegulator in &ndia has introduced a new syllabus(&6.""+ conceived and developed by 6&&- 5ondon.The syllabus mainly aims to ma*e an &nsurance /gent as a $inancial 7rofessional. 2ut almost all insurers are facing tough time ma*ing the candidates pass the e#amination which has become relatively tough.

COM2ANY 2ROFILE

COM2ANY 2ROFILE

United &ndia &nsurance 6ompany 5imited was incorporated as a 6ompany on !1th $ebruary !("1. 8eneral &nsurance 2usiness in &ndia was nationali?ed in !(42. !2 &ndian &nsurance 6ompanies- ' 6ooperative &nsurance Societies and &ndian operations of ; $oreign &nsurers- besides 8eneral &nsurance operations of southern region of 5ife &nsurance 6orporation of &ndia were merged with United &ndia &nsurance 6ompany 5imited. /fter =ationali?ation United &ndia has grown by leaps and bounds and has !1" wor* force spread across !"' offices providing insurance cover to more than ! 6rore policy holders. The 6ompany has variety of insurance products to provide insurance cover from bulloc* carts to satellites. United &ndia has been in the forefront of designing and implementing comple# covers to large customers- as in cases of 9=86 5td - 8)C. ,yderabad &nternational /irport 5td)umbai &nternational /irport 5td Tirumala.Tirupati %evasthanam etc. Ae have been also the pioneer in ta*ing &nsurance to rural masses with large level implementation of Universal ,ealth &nsurance 7rogramme of 8overnment of &ndia D Gijaya Caji :anani Halyan Fojana ( covering '; la*hs women in the state of )adhya 7radesh+ - Tsunami :an 2ima Fojana (in ' states covering '.;( la*hs of families+ - =ational 5ivestoc* &nsurance and many such schemes. Ae have also made our presence in more than 2 our innovative )icro 9ffices. OUR 3ISION Ae United &ndia will be

tier && D &&& towns and villages through

The most preferred insurer in &ndia with global footprint D recognition.

Trusted brand admired by all sta*eholders The best.in.class customer service provider leveraging technology D multiple channels The provider of a broad range of innovative products to meet the needs of all customer segments 8reat place to wor* with highly motivated and empowered employees Cecogni?ed for its contribution to the society

TO2 MANA&EMENT

Top Manage%ent Manage%ent Hierarc+# -oard Of Directors Regiona! C+iefs

S4NoNa%e Designation ! Shri )ilind / Hharat 6hairman cum )anaging %irector 2 Shri S. Surenther %irector D 8eneral )anager " Smt /sha =air %irector D 8eneral )anager ' Shri = Tobdan 8eneral )anager ; Shri 2. Hrishnamurthy 8eneral )anager 6 Shri ) G G 6halam 8eneral )anager 4 Shri /. ,oda 8eneral )anager 1 Shri G. 3aswara Haimal 8eneral )anager ( Smt T.5. /lamelu 8eneral )anager ! Smt Camma 2hasin 8eneral )anager !! Shri Cajase*haran 6hief Gigilance 9fficer !2 Shri ). 3lango %eputy 8eneral )anager !" Shri S.7. =anda %eputy 8eneral )anager !' Shri C. Shiva*umar %eputy 8eneral )anager !; Smt 7. ,emamalini %eputy 8eneral )anager Shri /. !6 %eputy 8eneral )anager 2alasubramanian !4 Smt ). Sashi*ala %eputy 8eneral )anager !1 Shri 7. H. )ahapatra %eputy 8eneral )anager !( Shri H. 8ovindarajan %eputy 8eneral )anager 2 Shri = 7auly Su*umar %eputy 8eneral )anager 2! Shri G Srinath %eputy 8eneral )anager 22 Shri C ,ariharan %eputy 8eneral )anager 2" Smt Usha Camaswamy %eputy 8eneral )anager

S4NoNa%e Designation 2' Shri S ) 6hura %eputy 8eneral )anager 2; Shri =arasimha Cao 6, %eputy 8eneral )anager

COR2ORATE MISSION Introducing Ourse! es

U& is a leading 8eneral &nsurance 6ompany. )ore than three decades of e#perience in =on.life &nsurance business. $ormed by the merger of 22 companies- conse>uent to nationalisation of 8eneral &nsurance. ,ead Iuarters at 6hennai.

Corporate Mission

To provide &nsurance protection to all. To ensure customer satisfaction To function on sound business principles. To help minimise national waste and to help develop the &ndian economy.

UNISUR&E 5+at is Unisurge6 =ovember- 2 4 mar*ed a significant in the history of United &ndia. 9ur top leadership

came together in ,yderabad to frame the vision of our company and determine the path that we should ta*e in shaping our future. Ae resolve to transform our to be able to ta*e the challenge posed by competition head on- and continue to be a leading player in general

insurance industry Since then- our company has embar*ed upon an ambitious enterprise. level transformation project-U=&SUC83 %ownload Unisurge =ews 5etters 5+at are t+e initiati es under Unisurge6 Si7 t+e%es )ar*et 6orporate . Initiati es LC-8 7rovide differentiated service and organisational focus to large corporate D goverment accounts- with focused development effort in the Aest. UME9 Motor Dea!er Officer8 6apture greater share of motor through 93)Edealer Hea!t+8 &mprove performance of health portfolio through hospital relationshipsJ&mprove T7/ in the medium term./lso review product portfolio. Motor8 %evelop competitive products and offer additional value.added services toincrease mar*et share. UME9 Agenc#8 Ce.energise agent channel through better development-supportand aligned incentives 6hannel UME9 -ancassurance8 %rive higher premiums in 2ancassurance channel through active management- leverage channel to target ruralEmicrofinance. Ser ice Hu1s8 &mprove speed and efficiency of underwriting and claims 7rocess and &T processes through consolidation T2A C!ai% Hu1s8 &mprove speed and effectiveness of investment process. %rive higher returns by improving effectiveness of investment process. 3nhance organi?ational accountability and strength ,C structure. 6reate incentive system and lin* to rigorous performance management system.

)ar*et &ndividual

&nvestments ,C and 7)S

CITI:ENS; CHARTER OUR 3ISION8

To become the most preferred insurer in &ndia- with global footprint and recognition. To become a trusted brand admired by all sta*eholders. To become the best.in.class customer service provider leveraging technology and multiple channels. To become the provider of a broad range of innovative products to meet the needs of all customer segments. To be a great place to wor*- with highly motivated and empowered employees. To be recogni?ed for its contribution to the Society.

OUR COMMITMENTS8 5e s+a!!

/ct courteously- fairly and reasonably in all our dealings with the customers. )a*e sure all our 7olicy documents and claim procedures are clear and complete information is given about our 7roducts and Services. %eal >uic*ly with the grievances of the customers and resolve them through nominated K6ustomer 6are 9fficersK in all operating offices. RO Noda! Custo%er Care Officers List4

Cespond to all commercially viable general insurance needs of the citi?ens to provide new covers and promote insurance inclusion. 6ontinue to provide customi?ed insurance products for the rural and particularly for the wea*er sections of the Society at affordable price. 6ontinue to develop a professional wor*force for e#ecution of roles assigned to them. ,ave a regular consultative process with all our sta*eholders and set up monitoring mechanism for delivery of promised services to our customers.

STANDARDS FOR ACCESS TO CITI:ENS8 5e s+a!!

,ost on our Aebsite '''4uiic4co4in all relevant information relating to wor*ing hours- documents re>uired for issuance of policies and claims settlement. )a*e available literature on products and services at all our offices.

Ceach out through electronic and print media- intermediaries and other active communication channels available. 3nhance the access of citi?ens through 6all 6entre and 7ortal. 3armar* the time between ". 7) to ;. 7) of every Aednesday (ne#t wor*ing day- in case Aednesday happens to be holiday+ for personal interaction of customers with 9fficer.in.charge of the 2ranch E %ivisional E Cegional office for resolving of grievance.

STANDARDS FOR SER3ICIN&8 5e s+a!!

Strive to carry out the timelines as prescribed by the Cegulator in respect of 7olicy holderLs servicing. 2e clear and transparent in see*ing fulfillment of re>uirements for settling a claim or any other services to the customer.

STANDARDS OF FAIRNESS AND O2ENNESS8 5e s+a!!

&nvite feedbac* from customers on services availed to suggest improvements. Ceview the standards of services offered- annually with a view to improve the benchmar*s.

-ENCHMAR$S FOR SER3ICIN&8 Decision on acceptance of 2roposa! for

)otor- &ndividual ,ealth- 7ersonal /ccident and 9ther 7ersonal lines of &nsurance M within " days of submission. $ire- )arine- 3ngineering and other commercial lines of &nsurance M within 4 days of submission. &ssuance of policies within 4 days of acceptance of premium. &ssuance of Cenewal =otice !; days before e#piry of policy. /ppoint SurveyorE&nvestigator within '1 hours of intimation of claim

%ecide claims on 7ersonal 5ine and Cetail &nsurances within !; days and on 6ommercial 5ine &nsurances within " days of receipt of re>uired documentsEclarifications.

7rovide 6laim status to the customers within " days of receipt of re>uest by the policy issuing office. )a*e payment of claim within " days of receipt of discharge voucher &nform the customer within " days of receipt of re>uired documents if the claim is not admissible. Cegister grievances on the same day E monitor the grievances registered on &ntegrated 8rievance )anagement System (&8)S+ through the 6ompanyLs 8rievance Cedressal System (U8)S+ U&MS porta!4

7rovide

ac*nowledgement

within

"

days

of

receipt.

Cesolve the grievances within !; days of receipt. /ppeals on grievances not resolved- can be forwarded to ,ead office- 6ustomer 6are %epartment and resolution will be provided in !; days. This 6harter is a summary of what United &ndia &nsurance 6ompany proposes to offer to the citi?ens. The charter does not in any way become a part of the policy conditions or policy contract of the customers of United &ndia &nsurance 6ompany or the conditions of service to the wor*force of the 6ompany. (&mpact of this 6harter on 6ustomer Service shall be evaluated periodically and wherever found necessary- introduction of re>uisite penalty provisions in cases of non.compliance to timelines shall be e#amined for the sa*e of adding to efficacy of the 6harter.+

OFFICIAL LAN&UA&E IM2LEMENTATION RE2ORT ON OFFICIAL LAN&UA&E IM2LEMENTATION

Ahile framing the constitution of our country- ,indi was unanimously accepted as

=ational language and ,indi was adopted as the =ational 5anguage of the Union of india on!'th September- !('(. To commemorate this occasion KHINDI DAYK is celebrated on !'th September every year. /rticle "'" of the constitution states that KThe 9fficial language of the Union shall be ,indi in %evnagari Script. The form of numerals to be used for the 9fficial purpose of the union shall be the international form of &ndian numerals. The company has shown good progress in the implementation of 9fficial 5anguage 7olicy as per the /nnual 7rogramme on 9.5. &mplementation of 8ovt. of &ndia. Some of the noteworthy achievement in 9fficial 5anguage &mplementation includes the following@

E4 SER3ICES < TO FACILITATE EM2LOYEES8 9ne ,indi word a day is taught to all through &ntranet. )essages- Ceports and 7hotos of ,indi %ayEAee*- 6onference etc. are uploaded regularly. ,indi ,ouse )aga?ine is available in &ntranet as 3.)aga?ine. E4MAIL IN HINDI8 )ails are sent by various offices in ,indi. 2RO2O&ATION MEDIA8 To populari?e non. life insurance products among masses in rural and urban areasprogrammes li*e discussion- speeches etc. are organised through /ll &ndia Cadio. Cecently a programme on ,ealth &nsurance was organised. OF NON,LIFE INSURANCE THROU&H ELECTRONIC

-ILIN&UAL 2U-LICATIONS8 a. 6&T&N3=S 6,/CT3C printed in bilingual and regional language b. 7erformance- 7lanning- /nalysis- Ceview and %iscussion and Iuality 6ircle of ,C% has been translated and printed in bilingual c. %9Ls /=% %9=TLSL vigilance manual had been printed in bilingual. d. 6ompanyLs /nnual Ceport published in bilingual e. 6ompanyLs corporate )otto is in bilingual. f. ,andboo* on 9fficial 5anguage has been published to facilitate wor*ing in 9fficial 5anguage- for officers and employees g. /gent0s )anual h. 7ension Cules

2RODUCTS

FAMILY MEDICARE !. A,3C3/S the insured designated in the Schedule hereto has by a proposal and declaration dated as stated in the Schedule (which shall be the basis of this 6ontract and is deemed to be incorporated herein+ has applied to U=&T3% &=%&/ &=SUC/=63 69)7/=F (hereinafter called the 69)7/=F+ for the insurance hereinafter set forth in

respect of person(s+named in the Schedule hereto (hereinafter called the &=SUC3% 73CS9=+ and has paid premium as consideration for such insurance. !.! =9A T,&S 795&6F A&T=3SS3S that subject to the terms- conditions- e#clusions and definitions contained herein or endorsed- or otherwise e#pressed hereon the 6ompany underta*es that if during the period stated in the Schedule or during the continuance of this policy by renewal- any insured person shall contract any disease or suffer from any illness (hereinafter called %&S3/S3+ or sustain any bodily injury through accident (hereinafter called &=:UCF+ and if such disease or injury shall re>uire any such insured 7erson- upon the advice of a duly >ualified 7hysicianE)edical SpecialistE)edical practitioner (hereinafter called )3%&6/5 7C/6T&T&9=3C+ or of a duly >ualified Surgeon (hereinafter called SUC839=+ to incur hospitalisation e#penses for medicalEsurgical treatment at any =ursing ,omeE,ospitalE%ay 6are 6entre in &ndia as herein defined (hereinafter called ,9S7&T/5+ as an inpatient- the 6ompany will pay through Third 7arty /dministrator (hereinafter called T7/+ to the ,ospital E =ursing ,ome or the &nsured 7erson the amount of such e#penses as are reasonably and necessarily incurred in respect thereof by or on behalf of such &nsured 7erson but not e#ceeding the Sum &nsured in aggregate in any one period of insurance stated in the schedule hereto. !.2 &n the event of any claim(s+ becoming admissible under this scheme- the company will pay through T7/ to the ,ospital E =ursing ,ome or the insured person the amount of such e#penses as would fall under different heads mentioned below- and as are reasonably and necessarily incurred thereof by or on behalf of such &nsured 7erson- but not e#ceeding the Sum &nsured in aggregate mentioned in the schedule hereto. /. Coom- 2oarding and =ursing 3#penses as provided by the ,ospitalE=ursing ,ome upto !% of Sum &nsured per day. This also includes =ursing 6are- C)9 charges- &G $luidsE2lood TransfusionE&njection administration charges and the li*e. 2. &f admitted in &6 Unit- the 6ompany will pay upto 2% of Sum &nsured per day. 6. Surgeon- /naesthetist- )edical 7ractitioner- 6onsultants- Specialists $ees

%. /naesthetist- 2lood- 9#ygen- 9peration Theatre 6harges- surgical appliances)edicines D %rugs- %iagnostic )aterials and O.ray- %ialysis- 6hemotherapy- Cadiotherapy- /rtificial 5imbs- cost of prosthetic devices implanted during surgical procedure li*e 7acema*er- relevant laboratory diagnostic tests- etc D similar e#penses. 3. /ll ,ospitalisation 3#penses (e#cluding cost of organ- if any+ incurred for donor in respect of 9rgan transplant. 3#penses in respect of the 5&)&TS $9C 3/6,

following specified illnesses will ,9S7&T/5&S/T&9= be restricted as detailed below@ ,ospitalisation 2enefits a. 6ataract b. ,ernia c. ,ysterectomy b. !;% of the S& subject to d. $ollowing Specified major ma#imum of Cs." i. 6ardiac Surgeries c. 2 % of the S& subject to ii. 6ancer Surgeries iii. 2rain Tumour Surgeries iv. 7acema*er implantation $or sic*- sinus ma#imum of Cs.; E. E. surgeries . a. ! % of S& subject to ma#imum of Cs.2;E.

d. 4 % of the S& subject to ma#imum of Cs.' 5ac

syndrome v. ,ip replacement vi. Hnee joint replacement &n respect of persons above 6 years- ! % deductible will be applied on all admissible claims.. !." 6ompany0s 5iability for all claims admitted in respect of anyEall insured personEs during the period of insurance shall not e#ceed the Sum &nsured stated in the schedule. STANDARD FIRE

2uildings )achinery and /ccessories Stoc* and stoc* in process 6ontents including furniture

5HAT CAN -E INSURED

%wellings

9ffices

Shops

,ospitals(5ocated

outside

the

compounds

of

industrialEmanufacturing ris*s+

&ndustrial E )anufacturing Cis*s Utilities located outside industrialEmanufacturing ris*s )achinery and /ccessories Storage Cis*s outside the compound of industrial ris*s Tan* farms E 8as holders located outside the compound of industrial ris*s

MOTOR 2AC$A&E

5e Co er P)otor vehicle which includes private cars )otorised Two wheelers and 6ommercial vehicles e#cluding vehicles running on rails. 5+o can Insure 6 P9wners of the vehicle $inanciers or 5essee who have insurable interest in a motor vehicle. Insured=s Dec!ared 3a!ue .ID3/ (a+ &n case of vehicle not e#ceeding ; years of age the &%G has to be arrived at by applying the percentage of depreciation specified in the tariff on the showroom price of the particular ma*e and model of the vehicle. (b+ &n case of vehicles e#ceeding ; years of age and 9bsolete models (manufacture of those vehicles which have been stopped by the manufacturers+ they have to be insured for the prevailing mar*et value of the same as agreed to between the insurer and the insured.

Shriram 5ife &nsurance 6ompany is the joint venture between the Shriram 8roup and the Sanlam 8roup. The Shriram 8roup is one of the largest and well.respected financial services conglomerates in &ndia. The 8roup0s main line of activities in financial services include chit fund- truc* financing- consumer durable financing- stoc* bro*ing- insurance bro*ing and life insurance.

The 8roup has a customer base of " lacs chit subscribers and investors and operates through a networ* of 6" offices all over the country. The 8roup has the largest agency force in the private sector consisting of more than 4;loyal and dedicated agents.

Sanlam 5ife &nsurance 5imited- a part of the Sanlam 8roup- is one of the largest providers of life insurance in South /frica with ".2 million individual policies under administration. &t has a significant presence across South /frica- United Hingdom and =amibia and is a major provider of life insurance- retirement annuities- saving and investment productspersonal loans- home loans and trust services to individuals. The shareholder0s funds of Sanlam 5ife e>uates to US% '.' billion. The Sanlam 8roup was established in !(!1 and has a leadership position in financial services in South /frica. %emutuali?ed in !((1- the group is listed on the :S3 Securities 3#change in :ohannesburg and on the =amibian Stoc* 3#change. &t has a current mar*et capitali?ation of US% ;.' billion. The Sanlam 8roup also operates in the areas of group schemes- retirement funds- short.term insurance- asset management and other financial services. &t has an employee strength of 1'.6 billion. 9n "!st %ecember 2 management. 3ISION The Shriram 5ife &nsurance 6ompany is set out with the objective of reaching out to the common man with a host of products and services that would be helpful to him in his path to prosperity. 3fficiency in operations- integrity and a strong focus on catering to the needs of the common man- by offering him high >uality and cost.effective products and services- are the values driving the organi?ation. These core values are deep.rooted within the organi?ation and have been strongly adhered to over the decades. The company prides itself on its perfect understanding of the customer. 3ach product or service is tailor.made to perfectly suit the needs of the customer. &t is this guiding and has shareholder funds in e#cess of US% ' it had more than US% '1 billion assets under

philosophy of putting people first that has brought the 6ompany closer to the grassroots and has made it the preferred choice for all the truc* financing re>uirements amongst the customers. OUR TEAM

/ Shriram veteran- )r.Caghunathan is a fellow of the &nsurance &nstitute of &ndia and wor*ed with 5&6 for 24 years and with the Shriram 8roup for another 2; years in various capacities. ,e is involved in guiding and mentoring Underwriting- 6laims and legal teams and acts as a bridge between Sales teams and ,9. / firm believer in empowering peoplehe has nurtured highly competent and business savvy teams within these functions.

/ 6hartered /ccountant with an )2/ from O5C& :amshedpur and an /ssociate of the &nsurance &nstitute of &ndia- )r.,ariharan has been with the Shriram 8roup for more than !6 years. ,e previously wor*ed with the &ndian Cailways and Tata )otors for over two

decades. ,e was the first Gice.7resident of )edicorp technologies and 639 M 279 of 7roactive Solutech. /s 6&9- he and his team manages funds of around 2 crores.

7reviously the )anaging %irector of Shriram &nvestments 5td- )s./*hila Srinivasan was selected as one of the 2; most powerful business women in the country by 2usiness Today maga?ine. She is also a ,onorary consul for =etherlands and is associated with many social welfare programmes.

2RODUCTS

Shrilife is an participating life insurance plan that combines security and saving.

/ Traditional 7lan where the total benefit payable during the policy term is two times the sum assured.

/ Traditional participating life insurance plan that provides security for the childs education.

The 7remium is payable only once but life cover will be available throughout the policy term.

This life &nsurance plan provides financial support at the time of marriage of the children.

Shri Sura*sha is an increasing and without profits Term /ssurance plan that gives life cover for individuals.

This life &nsurance plan that provides a series of payments at regular intervals as long as the policy holder survives and returns the purchase price upon death to the nominee

Shri /*shay =idhi is a regular premium money bac* policy with participation in profits.The premiums are payable at regular intervals during the term of the policy.

This l ife &nsurance plan with a conversion option to change a whole 5ife /ssurance 7lan on ;th last policy anniversary.

This life &nsurance plan designed to provide an affordable -easy to obtain an financial safety.

This life &nsurance plan designed to ma*e you a real champion in reaching your $inancial target.

Shiram Ujjwal 5ife(S7+ to accomplish all your financial goals.

&f Fou are thin*ing of &nvesting -the first thing you need to do is wor* out what your personal and financial goals

To protect your loved ones against une#pected events and ma#imi?e your investments.

This 8roup Term /ssurance plan that assures payment of sum assured upon death.

This group insurance product is basically for loan providers who will be the master policyholder.

This a )icro &nsurance plan that will give life cover for socially wea*er section.

This life &nsurance plan that will give life cover for socially wea*er sections of population. .

INTRODUCTION TO TO2IC

INTRODUCTION TO TO2IC
The process of putting an analysis down in writing can be instrumental in ma*ing sure as many stones as possible have been turned over when researching a company. Fa%ed

in estor 2eter L#nc+ is credited with using the above phrase and is >uoted as saying that Qthe person that turns over the most roc*s wins the game. /nd that0s always been my philosophy.R 2elow is an overview of the major sections to consider when writing a financial analysis report on a company.

Co%pan# O er ie' / report should start with a description of the company in order to help investors understand the business- its industry- its motivation and any edge it might have over its competitors. These factors can prove invaluable in helping to e#plain why a company might be a profitable investment or not. / firmLs annual report- )>,$ filing or >uarterly ! . I with the Securities D 3#change 6ommission provide ideal starting pointsJ it is surprising how rare it is for industry e#perts to refer to original company filings for important details. )ore valuable detail can be obtained from industry trade journals- reports from *ey rivals and other analyst reports. To also capture *ey fundamentals to describe a company- loo* to )ichael 7orterJ T+e 2orter;s Fi e Forces %ode! helps e#plain a companyLs place within its industry. Specifically- the factors include the threat for new entrants to enter the mar*et- the threat for substitute products or services- the e#tent to which suppliers are able to influence the company and the intensity of rivalry among e#isting competitors.

In est%ent T+esis The motivation for a bullish or bearish stance on a company is uncovered in this section. &t can come at the top of a report and include parts of a company overview- but regardless of its position in an analysis should cover the *ey investment positives and negatives. / fundamental analysis- which can also be its own section- can be included here and contain research on the firmLs financial statements- such as sales and profit growth trendscash flow generation strength- debt levels and overall li>uidity- and how this compares to the competition. =o detail is too small in this sectionJ it can also cover efficiency ratios li*e the primary components in the cas+ con ersion c#c!e- turnover ratios and a detailed

brea*down of return on e?uit# components- such as the %u7ont identity- which will 1rea" ROE into t+ree to fi e different %etrics. The most important component of analy?ing past trends is to synthesi?e it into a forecast of the companyLs performance. =o analyst has a crystal ball- but the best ones are able to accurately e#trapolate past trends into the future- or decide which factors are the most important in defining success for a company going forward. 3a!uation The most important part of any financial analysis is to come to an independent value for the stoc* and compare this to the mar*et price. There are three primary valuation techni>ues@ The first- and arguably most fundamental- techni>ue is to estimate a companyLs future cash flows and discount them bac* to the future at an estimated discount rate. This is generally referred to as a discounted cas+ f!o' analysis. The second is called relative value where the fundamental metrics and valuation ratios (price to sales- price to earnings- 7E3 to growth- etc.+ are compared to competitors. /nother comparison analysis is to loo* at what other rivals have been bought out for or the price paid for an ac>uisition. The third and last techni>ue is to loo* at boo* value and try to estimate what a company might be worth if bro*en up or li>uidated. / boo* value analysis is especially insightful for financial stoc*sfor instance. $e# Ris"s This section can be part of the bullEbear story in the investment thesis- but is meant to detail *ey factors that may derail either a bullish or bearish stance. The loss of patent protection for a bloc*buster drug for a pharmaceutical company is a great e#ample of a factor that can weigh heavily on the valuation for its underlying stoc*. 9ther considerations include the industry in which the firm operates. $or e#ample- t+e tec+no!og# industr# is mar*ed by short product life cycles- which can ma*e it hard for a firm to *eep its edge following a successful product release. Ot+er Considerations

The above sections could prove sufficient- but depending on the stones uncovered during a financial analysis- other new sections might be warranted. Sections covering corporate go ernance- the political environment or nearer.term news flow- might be worthy of a fuller analysis. 2asically- anything important that can impact the future value of a stoc* should e#ist somewhere within the report. T+e -otto% Line 7erformance of the underlying company is most certainly to drive the performance of its stoc* or bond in the future. 9ther derivative securities- such as futures and options- will also depend on an underlying investment- be it a commodity or a company. $iguring out the *ey drivers to the performance of a stoc* and putting it down in writing can be an invaluable endeavor for any investor- regardless of if a formal research report is needed. FINANCIAL ANALYSIS Financia! ana!#sis (also referred to as financia! state%ent ana!#sis or accounting ana!#sis or Ana!#sis of finance+ refers to an assessment of the viability- stability and profitability of a 1usiness- sub.business or pro@ect. &t is performed by professionals who prepare reports using ratios that ma*e use of information ta*en from financia! state%ents and other reports. These reports are usually presented to top management as one of their bases in ma*ing business decisions.

6ontinue or discontinue its main operation or part of its businessJ )a*e or purchase certain materials in the manufacture of its productJ /c>uire or rentElease certain machineries and e>uipment in the production of its goodsJ &ssue stoc"s or negotiate for a ban* !oan to increase its 'or"ing capita!J )a*e decisions regarding investing or lending capitalJ 9ther decisions that allow management to ma*e an informed selection on various alternatives in the conduct of its business.

GOALS $inancial analysts often assess the following elements of a firm@ !. 2rofita1i!it# . its ability to earn income and sustain growth in both the short. and long. term. / company0s degree of profitability is usually based on the inco%e state%ent- which reports on the company0s results of operationsJ 2. So! enc# . its ability to pay its obligation to creditors and other third parties in the long. termJ ". Li?uidit# . its ability to maintain positive cas+ f!o'- while satisfying immediate obligationsJ Both 2 and 3 are based on the company's 1a!ance s+eet, which indicates the financial condition of a business as of a given point in time. '. Sta1i!it# . the firm0s ability to remain in business in the long run- without having to sustain significant losses in the conduct of its business. /ssessing a company0s stability re>uires the use of both the income statement and the balance sheet- as well as other financial and non.financial indicators. etc. METHODS $inancial analysts often compare financia! ratios (of so! enc#- profita1i!it#- growth- etc.+@

2ast 2erfor%ance . /cross historical time periods for the same firm (the last ; years for e#ample+Future 2erfor%ance . Using historical figures and certain mathematical and statistical techni>ues- including present and future values- This e#trapolation method is the main source of errors in financial analysis as past statistics can be poor predictors of future prospects.

Co%parati e 2erfor%ance . 6omparison between similar firms.

These ratios are calculated by dividing a (group of+ account balance(s+- ta*en from the 1a!ance s+eet and E or the inco%e state%ent- by another- for e#ample @ Net inco%e / equity = return on e?uit# !"#$ Net inco%e / total assets = return on assets !"%$ &toc' price / earnings per share = 2AE ratio

6omparing financial ratios is merely one way of conducting financial analysis. Financia! ratios face several theoretical challenges@

They say little about the firm0s prospects in an absolute sense. Their insights about relative performance re>uire a reference point from other time periods or similar firms.

9ne ratio holds little meaning. /s indicators- ratios can be logically interpreted in at least two ways. 9ne can partially overcome this problem by combining several related ratios to paint a more comprehensive picture of the firm0s performance.

Seasonal factors may prevent year.end values from being representative. / ratio0s values may be distorted as account balances change from the beginning to the end of an accounting period. Use average values for such accounts whenever possible.

$inancial ratios are no more objective than the accounting methods employed. 6hanges in accounting policies or choices can yield drastically different ratio values.

Funda%enta! ana!#sis.

$inancial analysts can also use percentage analysis which involves reducing a series of figures as a percentage of some base amount. $or e#ample- a group of items can be e#pressed as a percentage of net income. Ahen proportionate changes in the same figure over a given time period e#pressed as a percentage is *nown as hori?ontal analysis. Gertical or common.si?e analysis- reduces all items on a statement to a Qcommon si?eR as a percentage of some base value which assists in comparability with other companies of different si?es. /s a result- all &ncome Statement items are divided by Sales- and all 2alance Sheet items are divided by Total /ssets /nother method is comparative analysis. This provides a better way to determine trends. 6omparative analysis presents the same information for two or more time periods and is presented side.by.side to allow for easy analysis. 2ROFITA-ILITY

2rofita1i!it# is the primary goal of all business ventures. Aithout profitability the business will not survive in the long run. So measuring current and past profitability and projecting future profitability is very important. 7rofitability is measured with income and e#penses. &ncome is money generated from the activities of the business. $or e#ample- if crops and livestoc* are produced and soldincome is generated. ,owever- money coming into the business from activities li*e borrowing money do not create income. This is simply a cash transaction between the business and the lender to generate cash for operating the business or buying assets.

3#penses are the cost of resources used up or consumed by the activities of the business. $or e#ample- seed corn is an e#pense of a farm business because it is used up in the production process. Cesources such as a machine whose useful life is more than one year is used up over a period of years. Cepayment of a loan is not an e#pense- it is merely a cash transfer between the business and the lender. 7rofitability is measured with an Qincome statementR. This is essentially a listing of income and e#penses during a period of time (usually a year+ for the entire business. %ecision Tool &ncome Statement . Short $orm- is used to do a simple income statement analysis. /n &ncome Statement is traditionally used to measure profitability of the business for the past

accounting period. ,owever- a Qpro forma income statementR measures projected profitability of the business for the upcoming accounting period. / budget may be used when you want to project profitability for a particular project or a portion of a business. Ceasons for 6omputing 7rofitability Ahether you are recording profitability for the past period or projecting profitability for the coming period- measuring profitability is the most important measure of the success of the business. / business that is not profitable cannot survive. 6onversely- a business that is highly profitable has the ability to reward its owners with a large return on their investment. &ncreasing profitability is one of the most important tas*s of the business managers. )anagers constantly loo* for ways to change the business to improve profitability. These potential changes can be analy?ed with a pro forma income statement or a 7artial 2udget. 7artial budgeting allows you to assess the impact on profitability of a small or incremental change in the business before it is implemented. / variety of 7rofitability Catios (%ecision Tool+ can be used to assess the financial health of a business. These ratios- created from the income statement- can be compared with industry benchmar*s. /lso- &ncome Statement Trends (%ecision Tool+ can be trac*ed over a period of years to identify emerging problems. ACCOUNTIN& METHODS Cas+ Met+od of Accounting Traditionally farmers have used the Qcash methodR of accounting where income and e#penses are reported on the income statement when products are sold or inputs are paid for. The cash method of accounting- used by most farmers- counts an item as an e#pense when it is purchased- not when it is used in the business. This has been used as a method of managing ta# liability from year to year. ,owever- many non.farm business accounting systems count an item as an e#pense only when it is actually used in the business activities.

,owever- net income can be distorted with the cash method of accounting by selling more than two years crops in one year- selling feeder livestoc* purchased in a previous year- and purchasing production inputs in the year before they are needed. Accrua! Met+od of Accounting To provide a more accurate picture of profitability- the accrual method of accounting can be used. Aith this method- income is reported when products are produced (not when they are sold+ and e#penses are reported when inputs are used (not when they are purchased+. /ccrual accounting uses the traditional cash method of accounting during the year but adds or subtracts inventories of farm products and production inputs on hand at the beginning and ending of the year. / wor*sheet for computing =et $arm &ncome Statement (%ecision Tool+ with accrual accounting is available that contains schedules for including beginning and ending inventories. &nformation on creating and using a =et $arm &ncome Statement is also available. /lthough seldom used in farming- %ouble 3ntry /ccounting (&nformation $ile Understanding %ouble 3ntry /ccounting+ will provide results similar to accrual accounting. %ouble entry accounting also updates the net worth statement every time an income or e#pense occurs. %efining 7rofitability

2rofita1i!it# can 1e defined as eit+er accounting profits or econo%ic profits4 Accounting 2rofits .Net Inco%e/ Traditionally- farm profits have been computed by using Qaccounting profitsR. To understand accounting profits- thin* of your income ta# return. Four Schedule $ provides a listing of your ta#able income and deductible e#penses. These are the same items used in calculating accounting profits. ,owever- your ta# statement may not give you an accurate picture of profitability due to &CS rapid depreciation and other factors. To compute an accurate picture of profitability you may want to use a more accurate measure of depreciation. /ccounting profits provide you with an intermediate view of the viability of your business. /lthough one year of losses may not permanently harm your business- consecutive years of losses (or net income insufficient to cover living e#penditures+ may jeopardi?e the viability of your business. Econo%ic 2rofits

&n addition to deducting business e#penses- opportunity costs are also deducted when computing Qeconomic profitsR. 9pportunity costs relate to your money (net worth+- your labor and your management ability. &f you were not farming- you would have your money invested elsewhere and be employed in a different career. 9pportunity cost is the investment returns given up by not having your money invested elsewhere and wages given up by not wor*ing elsewhere. These are deduced- along with ordinary business e#penses- in calculating economic profit. 3conomic profits provide you with a long.term perspective of your business. &f you can consistently generate a higher level of personal income by using your money and labor elsewhere- you may want to e#amine whether you want to continue farming. 7rofitability is not 6ash $low 7eople often mista*enly believe that a profitable business will not encounter cash flow problems. /lthough closely related- profitability and cash flow are different. /n income statement lists income and e#penses while the cash flow statement lists cash inflows and cash outflows. /n income statement shows profitability while a cash flow statement shows li>uidity. )any income items are also cash inflows. The sale of crops and livestoc* are usually both income and cash inflows. The timing is also usually the same (cash method of accounting+ as long as a chec* is received and deposited in your account at the time of the sale. )any e#pense items are also cash outflow items. The purchase of livestoc* feed is both an e#pense and a cash outflow item. The timing is also the same (cash method of accounting+ if a chec* is written at the time of purchase. ,owever- there are many cash items that are not income and e#pense items- and vice versa. $or e#ample- the purchase of a tractor is a cash outflow if you pay cash at the time of purchase as shown in the e#ample in Table 2. &f money is borrowed for the purchase using a term loan- the down payment is a cash outflow at the time of purchase and the annual principal and interest payments are cash outflows each year as shown in Table ".

The tractor is a capital asset and has a life of more than one year. &t is included as an e#pense item in an income statement by the amount it declines in value due to wear and obsolescence. This is called QdepreciationR. The depreciation e#pense is listed every year. &n the tables below a B4 per year. %epreciation calculated for income ta# purposes can be used. ,owever- to accurately calculate net income- a more realistic depreciation amount should be used to appro#imate the actual decline in the value of the machine during the year. &n Table "- where the purchase is financed- the amount of interest paid on the loan is included as an e#pense- along with depreciation- because interest is the cost of borrowing money. ,owever- the principal payments are not an e#pense but merely a cash transfer between you and your lender. Ot+er Financia! State%ents /n income statement is only one of several financial statements that can be used to measure the financial strength of a business. 9ther common statements include the balance sheet or net worth statement and the cash flow statement- although there are several other statements that may be included. These statements fit together to form a comprehensive financial picture of the business. The balance sheet or =et Aorth Statement shows the solvency of the business at a specific point in time. Statements are often prepared at the beginning and ending of the accounting period (i.e. :anuary !+. The statement records the assets of the business and their value and the liabilities or financial claims against the business (i.e. debts+. The amount by which assets e#ceed liabilities is the net worth of the business. The net worth reflects the amount of ownership of the business by the owners. tractor is depreciated over seven years at the rate of B! -

The 6ash $low Statement is a dynamic statement that records the flow of cash into and out of the business during the accounting period. / positive (negative+ cash flow will increase (decrease+ the wor*ing capital of the business. Aor*ing capital is defined as the amount of money used to facilitate business operations. &t is calculated as current assets (cash or near cash assets+ less current liabilities (liabilities due during the upcoming accounting period+.

/ 6omplete set of $inancial Statements (%ecision Tool+- including the beginning and ending net worth statements- the income statement- the cash flow statement- the statement of owner e>uity and the financial performance measures is available to do a comprehensive financial analysis of your business. To help you assess the financial health of your business- $inancial 7erformance )easures allows you to give your business a chec*.up. &nterpreting $inancial 7erformance )easures helps you to understand what these performance measures mean for your business. https@EEwww.e#tension.iastate.eduEagdmEwholefarmEhtmlEc".2'.html

NEED OF THE STUDY

The purpose of my study is descriptive. &t is the conceptual structure within which the research is conducted. &ts function is to provide for the collection of revelant evidence with minimal e#penditure of effort- time and money. Descripti e researc+ study i.e. to portray accurately the characteristics of a particular service.

O-BECTI3ES OF THE RESEARCH

To study the accounting method of $inancial analysis . To study the profitability analysis of &nsurance industry To determine the li>uidity position of the companies .

RESEARCH METHODOLO&Y

RESEARCH METHODOLO&Y
MEANIN& 8 Cesearch methodology means the various means or methods used for collecting the data for our study. %uring the course of this study we come across many people and completed my study by the help of receiving data from these people. THE RESEARCH 2ROCESS !4 COLLECTION OF DATA@. 2oth the primary D secondary data has been collected from the mar*et D company. The company provided the secondary data D primary data is collected through the medium of face.to.face interaction D interview from various persons in the enterprise. 2. OR&ANISATION OF DATA@ %ata once collected the further processing is done- the data collected by me are carefully done through in a useful D relevant manner Dproperly organi?ed. ". 2RESENTATION OF DATA@. The data collection is of no use unless D until it is given in the presentable form. Thus after proper organi?ation the data is given in presentable form with the complete details- with the help of bar diagram- pie carts etc. C4 ANALYSIS OF DATA8, The data is carefully analy?ed *eeping in the consideration both the pros D cons for the purpose of arriving at concrete conclusion.

;4 INTER2RETATION OF DATA@. /fter carefully analy?ed the data- it has been aptly interpreted in order to give concrete conclusion D proper recommendation.

RESEARCH DESI&N
Cesearch design involves a series of rational decision ma*ing benefits at each point from such sophisticated design to ensure accuracy- confidence and commensurate with large investment of resources.

2UR2OSE OF STUDY8
3#ploratory %escriptive ,ypothesis testing The purpose of my study is descriptive. &t is the conceptual structure within which the research is conducted. &ts function is to provide for the collection of revelant evidence with minimal e#penditure of effort- time and money. Descripti e researc+ study i.e. to portray accurately the characteristics of a particular service.

DATA SOURCES 8,
Two types of data have been collected for completing the study- those were@.. !. 7rimary %ata 2. Secondary %ata

DATA COLLECTION

Secondar# data8 &t is the data- which has already collected by some organi?ation for some purpose or research study. The data for my study has been collected from various. Secondary data means that data that are already available i.e. refers to data which has already been collected and analy?ed by someone else. The sources used in this case are. )4 -oo"s D4 Bourna!s E4 MagaFines C4 Internet sources G4 Ne'spapers M# data co!!ection is 1ased on secondar# data i4e4 fro% 'e1sites0 1oo"s0 pro'ess etc4

SAM2LIN& DESI&N 8 SAM2LIN& UNIT 8&t is the unit which would be considered for the purpose of study @ 7rofitability analysis of pharmaceutical industry . SAM2LE SI:E8 This refers to the number of items to be selected from the universe to constitute a sample. To commence the study- following sample si?e will be ta*en@ profitability /nalysis of 7harmaceutical industry Insurance H S+ri Ra% Insurance / SAM2LIN& METHOD 8 Non pro1a1i!it# %et+od . D co%panies . United India

DATA ANALYSIS H INTER2RETATION

DATA ANALYSIS H INTER2RETATION !. EARNIN&S 2ER SHARE .IN CS./ TA-LE 8 )

SHO5IN& STATUS OF E2S O3ER THE 2ERIOD OF STUDY

COM2AN Y NAME UNITED SHRI RAM

MAR D>)D
!''.;' 6'.""

MAR D>))
!'".4! ;2.61

MAR D>)>
! 6."( ''.1;

MAR D>>I
16. 6 ";.44

MAR D>>J
1".6( 24.1

FI&URE 8 )

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that earnings per share of both the two &nsurance companies increasing year after year. 37S of United ranged from1".6( to !''.;' during the period of study- whereas the Shri Cam has managed to earn 24.1 to 6'."" on per share.

D4 DI3IDEND 2ER SHARE

TA-LE 8 D

COM2AN Y NAME UNITED SHRI RAM

MAR D>)D
" . !2.

MAR D>))
2(. ! .

MAR D>)>
2!.; 1.;

MAR D>>I
!'. 4.

MAR D>>J
!'. ;.;

FI&URE,D

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that %ividend per share of both the two &nsurance companies increasing year after year. %7S of United ranged from !'. the period of study- whereas the Shri Cam has managed to earn ;.; to !2. to " . during on per share.

E4 O2ERATIN& 2ROFIT 2ER SHARE .RS/

TA-LE 8 E

COM2AN Y NAME UNITED SHRI RAM

MAR D>)D
22(.6" ! 6.2;

MAR D>))
2" . ' (2."6

MAR D>)>
!4".6! ! 4."2

MAR D>>I
!'4.42 16.!(

MAR D>>J
!2'.44 ;2.;6

FI&URE,E

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that 9perating profit per share of both the two &nsurance companies increasing year after year. 9perating profit per share of United ranged from !2'.44 to 22(.6" during the period of study- whereas the Shri Cam has managed to earn ;2.;6 to ! 6.2; on per share.

C4

NET O2ERATIN& INCOME 2ER SHARE .RS/

TA-LE 8 C COM2AN MAR MAR MAR MAR MAR

Y NAME UNITED SHRI RAM

D>)D
!-";".!; '"6. "

D>))
!-!4(.'; '6'.44

D>)>
1((.1" "'1.;4

D>>I
1""."1 2;(.(1

D>>J
4!(.;' !44.1

FI&URE,C

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that =et operating income per share of both the two &nsurance companies increasing year after year. =et operating income per share of United ranged from 4(!.;' to !";".; during the period of study- whereas the Shri Cam has managed to earn !44.1 to '"6. " on per share.

2ART II8 2ROFITA-ILITY RATIOS

)4 O2ERATIN& MAR&IN .K/

COM2AN Y NAME UNITED

MAR D>)D
!6.(6

MAR D>))
!(.;

MAR D>)>
!(.2(

MAR D>>I
!4.42

MAR D>>J
!4.""

SHRI RAM

2'."6

!(.14

" .41

"".!;

2(.;6

FI&URE,G

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that 9perating margin % of both the two &nsurance companies increasing and decreasing year after year. 9perating margin of United ranged from !4."" to !6.(6 during the period of study- whereas the Shri Cam has managed to earn 2(.;6 to 2'."6 on per share. D4 &ROSS 2ROFIT MAR&IN .K/

TA-LE 8 L COM2AN Y NAME UNITED SHRI RAM MAR D>)D

!;.11 22."(

MAR D>))
!1.'1 !1. ;

MAR D>)>
!1. ( 21.;1

MAR D>>I
!6."; " .;

MAR D>>J
!;.'! 26.";

FI&URE,L

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that 8ross profit margin % of both the two &nsurance companies increasing and decreasing year after year. 8ross profit margin of United ranged from !;.'! to !;.11 during the period of study- whereas the Shri Cam has managed to earn 26."; to 22."( on per share.

E4 NET 2ROFIT MAR&IN .K/

TA-LE 8 M COM2AN Y NAME UNITED SHRI RAM MAR D>)D

! .;' !'.46

MAR D>))
!2. " !!.";

MAR D>)>
!!.6; !2.12

MAR D>>I
! .!2 !".;4

MAR D>>J
!!.2! !;.;;

FI&URE,M

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that =et profit margin% of both the two &nsurance companies increasing and decreasing year after year. =et profit margin% of United ranged from !!.2! to ! .;' during the period of study- whereas the Shri Cam has managed to earn !;.;; to !'.46 on percentage.

C4 RETURN ON NET 5ORTH .K/

TA-LE 8 J COM2AN Y NAME UNITED SHRI RAM MAR D>)D

!".1( !".4

MAR D>))
!;.4' !;."2

MAR D>)>
!".42 !".1"

MAR D>>I
!'.; !4.4'

MAR D>>J
!;.(' !6.'"

FI&URE,J

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that Ceturn on net worth of both the two &nsurance increasing and decreasing year after year. Ceturn on net worth of United ranged from !;.(' to !".1( during the period of study- whereas the Shri Cam !6.'" to !".4 on percentage. has managed to earn

2ART III8
!. TOTAL DE-TAENUITY

LE3ERA&E RATIOS

TA-LE 8 I COM2AN Y NAME UNITED SHRI RAM MAR D>)D

!2.!( 4.41

MAR D>))
!2.1! (.4;

MAR D>)>
! .(6 1.46

MAR D>>I
!".(! ! .62

MAR D>>J
!".4; ! .;"

FI&URE,I

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RTATION 8
&t is revealed from the table and figure that Total debtEe>uity of both the two &nsurance increasing and decreasing year after year. Total debt Ee>uity of United ranged from !".4; to !2.!( during the period of study- whereas the Shri Cam has managed to earn ! .;" to 4.41 on per share.

2. O5NERS FUND AS K OF TOTAL SOURCE

TA-LE 8 )> COM2AN Y NAME UNITED SHRI RAM MAR D>)D

4.;4 !!."(

MAR D>))
4.2' (."

MAR D>)>
1."6 ! .2'

MAR D>>I
6.4 1.6

MAR D>>J
6.41 1.64

FI&URE,)>

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that 9wner fund as % of total source of both the two &nsurance companies increasing and decreasing year after year. 9wner fund as % of total source of United ranged from 6.41 to 4.;4 during the period of study- whereas the Shri Cam has managed to earn 1.64 to !!."( on per share.

E4

FI9ED ASSETS TURNO3ER RATIO

TA-LE 8 )) COM2AN Y NAME UNITED SHRI RAM MAR D>)D

4.26 '.2'

MAR D>))
4.2 ;.

MAR D>)>
6."2 ;.!1

MAR D>>I
;.'' '.""

MAR D>>J
;.! ".;

FI&URE,))

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that $i#ed assets turnover ratio of both the two &nsurance company increasing and decreasing year after year. $i#ed assets turnover ratio of United ranged from ;.! to 4.26 during the period of study- whereas the Shri Cam has managed to earn ".; to '.2' on percentage.

2ART I38 LINUIDITY RATIOS

)4 CURRENT RATIO 8

TA-LE 8 )D COM2AN Y NAME UNITED SHRI RAM MAR D>)D

.'" .21

MAR D>))
."' .24

MAR D>)>
.;" .26

MAR D>>I
.'2 .26

MAR D>>J
.' .2(

FI&URE,)D

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that 6urrent ratio of both the two &nsurance companies increasing and decreasing year after year. 6urrent ratio of United ranged from .' to .'" during the period of study- whereas the Shri Cam has managed to earn .2( to .21 on percentage.

D4 CURRENT RATIO .INC4 ST LOANS/

TA-LE 8 )E COM2AN Y NAME UNITED SHRI RAM MAR D>)D

. " . "

MAR D>))
. ' . "

MAR D>)>
. 4 . "

MAR D>>I
. ; . '

MAR D>>J
. ; . "

FI&URE,)E

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that 6urrent ratio of both the two &nsurance companies increasing and decreasing year after year. 6urrent ratio of United ranged from .' to .'" during the period of study- whereas the Shri Cam has managed to earn .2( to .21 on percentage.

E4 NUIC$ RATIO

TA-LE 8 )C COM2AN Y NAME UNITED SHRI RAM MAR D>)D

(. 4 4.!'

MAR D>))
;.4' ;.2"

MAR D>)>
6.!; '.1(

MAR D>>I
6.;2 '. 4

MAR D>>J
;.; ;.!1

FI&URE,)C

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that Iuic* ;.; ratio of both the two &nsurance companies increasing and decreasing year after year. Iuic* ratio of United ranged from to (. 4 during the period of study- whereas the Shri Cam has managed to earn ;.!1 to 4.!' on percentage.

2ART 38 2AYOUT RATIOS

!. DI3IDEND 2AYOUT RATIO .NET 2ROFIT/

TA-LE 8 )G COM2AN Y NAME UNITED SHRI RAM MAR D>)D

2"."6 2!.42

MAR D>))
22.( 22.!6

MAR D>)>
22.6' 22.!6

MAR D>>I
!1.(1 22.(!

MAR D>>J
!(. 6 22.;;

FI&URE,)G

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that %ividend payout ratio(net profit+ of both the two &nsurance companies increasing and decreasing year after year. %ividend payout ratio (net profit+ of United ranged from !(. 6 to 2"."6 during the period of study- whereas the shri Cam has managed to earn 22.;; to 2!.42 on percentage.

2. EARNIN& RETENTION RATIO

TA-LE 8 )L COM2AN Y NAME UNITED SHRI RAM MAR D>)D

46.64 41.2;

MAR D>))
44.!! 44.4(

MAR D>)>
44."" 44.1"

MAR D>>I
1 .(4 44.!!

MAR D>>J
1 .(" 44.''

FI&URE,)L

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that 3arning retention ratio of both the two &nsurance companies increasing and decreasing year after year. 3arning retention ratio of United ranged from 1 .(" to 46.64 during the period of study- whereas the Shri Cam has managed to earn 44.'' to 41.2; on percentage.

". CASH EARNIN&S RETENTION RATIO

TA-LE 8 )M COM2AN Y NAME UNITED SHRI RAM MAR D>)D

41.12 1 .12

MAR D>))
41.11 1 .14

MAR D>)>
4(.'! 1!. 4

MAR D>>I
1".2! 1".6(

MAR D>>J
1".6' 1'.1"

FI&URE,)M

)ar.!2 )ar.!! )ar.! )ar. ( )ar. 1

United

S+ri Ra%

INTER2RETATION
&t is revealed from the table and figure that 6ash 3arning retention ratio of both the two &nsurance companies increasing and decreasing year after year . 6ash 3arning retention ratio of United ranged from 1".6' to 41.12 during the period of study- whereas the Shri Cam has managed to earn 1'.1" to 1 .12 on percentage.

FINDIN&S

FINDIN&S
earnings per share of both the two &nsurance companies increasing year after year. 37S of United ranged from1".6( to !''.;' during the period of study- whereas the Shri Cam has managed to earn 24.1 to 6'."" on per share. %ividend per share of both the two &nsurance companies increasing year after year. %7S of United ranged from !'. to " . during the period of study- whereas the on per share. Shri Cam has managed to earn ;.; to !2.

9perating profit per share of both the two &nsurance companies increasing year after year. 9perating profit per share of United ranged from !2'.44 to 22(.6"

during the period of study- whereas the Shri Cam has managed to earn ;2.;6 to ! 6.2; on per share. =et operating income per share of both the two &nsurance companies increasing year after year. =et operating income per share of United ranged from 4(!.;' to !";".; during the period of study- whereas the Shri Cam has managed to earn !44.1 to '"6. " on per share.

9perating margin % of both the two &nsurance companies increasing and decreasing year after year. 9perating margin of United ranged from !4."" to !6.(6 during the period of study- whereas the Shri Cam has managed to earn 2(.;6 to 2'."6 on per share. 8ross profit margin % of both the two &nsurance companies increasing and

decreasing year after year. 8ross profit margin of United ranged from !;.'! to !;.11 during the period of study- whereas the Shri Cam has managed to earn 26."; to 22."( on per share. =et profit margin% of both the two &nsurance companies increasing and decreasing year after year. =et profit margin% of United ranged from !!.2! to ! .;' during the period of study- whereas the Shri Cam has managed to earn !;.;; to !'.46 on percentage. Ceturn on net worth of both the two &nsurance increasing and decreasing year after year. Ceturn on net worth of United ranged from !;.(' to !".1( during the period of study- whereas the Shri Cam percentage. Total debtEe>uity of both the two &nsurance increasing and decreasing year after year. Total debt Ee>uity of United ranged from !".4; to !2.!( during the period of study- whereas the Shri Cam has managed to earn ! .;" to 4.41 on per share. has managed to earn !6.'" to !".4 on

 9wner fund as % of total source of both the two &nsurance companies increasing and decreasing year after year. 9wner fund as % of total source of United ranged from 6.41 to 4.;4 during the period of study- whereas the Shri Cam has managed to earn 1.64 to !!."( on per share. $i#ed assets turnover ratio of both the two &nsurance company increasing and decreasing year after year. $i#ed assets turnover ratio of United ranged from ;.! to 4.26 during the period of study- whereas the Shri Cam has managed to earn ".; to '.2' on percentage. 6urrent ratio of both the two &nsurance companies increasing and decreasing year after year. 6urrent ratio of United ranged from .' to .'" during the period of study- whereas the Shri Cam has managed to earn .2( to .21 on percentage. Iuic* ratio of both the two &nsurance companies increasing and decreasing year after year. Iuic* ratio of United ranged from ;.; to (. 4 during the period of study- whereas the Shri Cam has managed to earn ;.!1 to 4.!' on percentage. %ividend payout ratio(net profit+ of both the two &nsurance companies increasing and decreasing year after year. %ividend payout ratio (net profit+ of United ranged from !(. 6 to 2"."6 during the period of study- whereas the shri Cam has managed to earn 22.;; to 2!.42 on percentage. 3arning retention ratio of both the two &nsurance companies increasing and

decreasing year after year. 3arning retention ratio of United ranged from 1 .(" to 46.64 during the period of study- whereas the Shri Cam has managed to earn 44.'' to 41.2; on percentage. 6ash 3arning retention ratio of both the two &nsurance companies increasing and decreasing year after year . 6ash 3arning retention ratio of United ranged from

1".6' to 41.12 during the period of study- whereas the Shri Cam has managed to earn 1'.1" to 1 .12 on percentage.

CONCLUSION

CONCLUSION
7rofitability means ability to ma*e profit from all the business activities of an organi?ationcompany- firm- or an enterprise. &t shows how efficiently the management can ma*e profit by using all the resources available in the mar*et. /ccording to ,arward D UptonQprofitability is the Sthe ability of a given investment to earn a return from its use.R ,owever- the term S7rofitabilityL is not synonymous to the term S3fficiencyL. 7rofitability is an inde# of efficiencyJ and is regarded as a measure of efficiency and management guide to greater efficiency. Though- profitability is an important yardstic* for measuring the efficiency- the e#tent of profitability cannot be ta*en as a final proof of efficiency. Sometimes satisfactory profits can mar* inefficiency and conversely- a proper degree of efficiency can be accompanied by an absence of profit. The net profit figure simply reveals a satisfactory balance between the values receive and value given. The change in

operational efficiency is merely one of the factors on which profitability of an enterprise largely depends. )oreover- there are many other factors besides efficiency- which affect the profitability.

/part from the short term and long term creditors- owners and management or a company itself also interests in the soundness of a firm which can be measured by profitability ratios. 7rofitability ratios are of two types those showing profitability in relation to sales (revenue in case of United + and those showing profitability in relation to investment. Togetherthese ratios indicate firmLs overall effectiveness of operation. Aith a view to appraise profitability of S+ri Ra% 0 the analysis has been made from the point of view of management and shareholders. The management of the firm is naturally eager to measure its operating efficiency. Similarly- the owners invest their funds in the e#pectation of reasonable returns. The operating efficiency of a firm and its ability to ensure ade>uate returns to its shareholders depends ultimately on the profits earned by it.

LIMITATIONS
Though the present study aims to achieve the above.mentioned objectives in full earnest and accuracy- it may be hampered due to certain limitations. Some of the limitations of this study may be summari?ed as follows@ /lthough every effort has been made into collect the relevant information through the secondary sources available still some relevant information could not be gathered. This study is limited to some particular terminals and it canLt be generali?ed to some other terminals. Sometimes respondent hide the facts- and may be biased to the particular place and not give the accurate information.

Cesearcher is ine#perience. This is his first study- so this is also a limitation of the study. %ue to changing environment what is relevant today may not be relevant tomorrow. There was lac* of time on the part of respondent and for me also it was not possible to go into every noo* and corner of the study.

SU&&ESTIONS
/fter the study we come to *now some of the loop holes in the organi?ation which can be improved so that the wor* of the organi?ation becomes smoother and easier. So here are some of the suggestions from my side@. &ncrease shareholder value &ncrease in operating income )anage costs and unused capacity 2uild strong customer relationships &ncrease mar*et share &ncrease customer focus of sales organi?ation %onLt assume the cause.and.effect lin*ages to be precise.

 %onLt see* improvements across all measures all the time. %onLt use only objective measures on the scorecard. %onLt fail to consider both costs and benefits of initiatives such as spending on information technology and research and development %onLt ignore non financial measures when evaluating managers and employees.

-I-LIO&RA2HY
-OO$S H BOURNALS 8
)4 $ot+ari0 C4R O(uantitative )echniquesP Second 3dition- ,imalayan 7ublishing ,ouse- =ew %elhi- 77.' .'; D4 $ot+ari C4R4 O!esearch *ethodology + )echniquesP Second 3dition- =ew /ge &nternational 7ublishers- =ew %elhi- 77.1;.(1- !! .!!; E4 &upta S4$4 O*anagement %ccountingP 1th 3dition. 77.2 .!.2 .2 C4 &upta S4$4 O*anagement %ccountingP ;th 3dition 77.1 .!.1 .; G4 &upta S4240 OBusiness &tatisticsP 6urrent 3dition- /rya 7ublications- /gra. 77. ;6.41

L4 &oe! D4$4 O*anagement %ccounting and ,inancial *anagementP 4th 3ditionGinay 7ublications- =ew %elhi- 77.14.1( M4 2ande# 0 I4M O,inancial *anagement- Surya 7ublications- =ew %elhi. 77.'(.16 J4 Ma+es+'ari 0S4N OS%dvanced %ccountingP !st 3dition -)cmillan &ndia 5td.- =ew %elhi- 77.'2.'"

5E-, SITES8
http@EEwww.e>uitymaster.comEdetail.aspT dateU"E!1E2 ! DstoryU'DtitleUHey.ban*ing.ratios.&&.7SUs.vs.private
www.economywatch.com/business http://www.investorwords.com/1952/financial_leverage.html4

http://www.12manage.com/description_financial_leverage.html

http://autonews.indiacar.com/news/n12234.htm

www.moneycontrol.com
www.bofabusinesscapital.com

www.hdfcstandard.com

ANNE9URE
ENUITY SHARE DATA
United E)AEAD>)D ,igh 5ow Sales per share 3arnings per share 6ash flow per share Cs Cs Cs Cs Cs !- !4 "(' 6(4.2 1 .' 2"".' S+ri Ra% E)AEAD>)D !-2!; ' 214." 26.( !!(.4 !('.(% United A S+ri Ra% 1".4% (1.;% 2'2.4%

%ividends per share %ividend yield (eoy+ 2oo* value per share Shares outstanding (eoy+ 2onusECightsE6onversions 7rice E Sales ratio /vg 7E3 ratio 7E6$ ratio (eoy+ 7rice E 2oo* Galue ratio %ividend payout /vg )*t 6ap =o. of employees Total wagesEsalary /vg. salesEemployee /vg. wagesEemployee /vg. net profitEemployee V

Cs % Cs m

22. ".! ;(".2 "!;." .

!2. !.; "('.6 ' ;.!4 I&7-8%C 2.1 " . 6.4 2. ''.6 "24-!4; 22 !"-;(1 ;-"41.; 621.' !-!';.!

!1"."% 2 (.1% !; ."% 44.1% . "6. % 2(.2% ''.1% ;1.!% 6!."% 61. % 26".!% 2"!. % 4!.1% 14.1% 6 .(%

# # # # % Cs m Cs m Cs Th Cs Th Cs Th

!. 1.1 ". !.2 24.' 222-''' ;4 "!-'!" "-16!.' ;;!.1 6(4.1

INCOME DATA
=et Sales 9ther income Total revenues 8ross profit %epreciation &nterest 7rofit before ta# )inority &nterest 7rior 7eriod &tems 3#traordinary &nc (3#p+ Ta# 7rofit after ta# 8ross profit margin 3ffective ta# rate =et profit margin Cs m Cs m Cs m Cs m Cs m Cs m Cs m Cs m Cs m Cs m Cs m Cs m % % % 2 -;'2 "(-426 (".( "'. !1.! !"-'!" 2'-41! 11.! ";.! 2!." 2!(-12' "'-;"' 2;'-";1 2 6-'"2 '1-2"( !"2-" 6 -'24 .!;( !!6-"(! "(-6'2 !;6- "" ! 2-; 2 "4-62' 66-"26 "1-!(' 14.!% !6". % 2 !.'% !21.2% !((.;% !;1.2% . . . !;".!% !6 ."% ! 6.6% (6.1% 1'.(%

-ALANCE SHEET DATA

6urrent assets 6urrent liabilities =et wor*ing cap to sales 6urrent ratio Cs m Cs m % # 16(.' '". 1(6.; '". !-(!!-! ( !- '"-'"! !1".2% . (4. % ! . %

&nventory Turnover %ebtors Turnover =et fi#ed assets Share capital K$reeK reserves =et worth 5ong term debt Total assets &nterest coverage %ebt to e>uity ratio Sales to assets ratio Ceturn on assets Ceturn on e>uity Ceturn on capital 3#ports to sales &mports to sales =et f#

%ays %ays Cs m Cs m Cs m Cs m Cs m Cs m # # # % % % % % Cs m 2;-"!' "-!;" ! '-(64 !14- 24 ! 4-( 2 "- ";-6(' !.; .6 .! ;.4 2!.2 6;." . . !2-"6 '- ;2 !"!-'1! !;(-1(! !4!-6(6 !-1 ;-164 !.6 !.! .! ;. !;.; "!.; . .

. . 2 '.1% 44.1% 4(.1% !!4. % 62.1% !61.!% (2.'% ;".4% !!2.'% !!2."% !"4. % 2 4.!% . . .

PROJECT REPORT
on

OFINANCIAL ANALYSIS OF UNITED INDIA INSURANCE CO4 H SHRIRAM INSURANCE CO4P

SU2)&TT3% T9 @ HUCUHS,3TC/ U=&G3CS&TF - HUCUHS,3TC/

In the Partial fulfillment of the Bachelor of degree of Commerce in Bankaasurance

Session : 2012-13
Under the supervision of @ )s. /nubha 5ect. &n 6ommerce %./.G. 6ollege for 8irls Submitted by @ 7riyan*a 2. 6om. W &&&rd
Ro!! No4 8 D>))))M>>MG

Univ. Coll no. X

D.A.V. College for Girls Yamuna Nagar -135001

2REFACE
The main objective of the project is familiari?ation with the necessary theoretical inputs and to gain sufficient practical e#posure to establish a distant lin*age between the conceptual *nowledge ac>uired at the institute and practices those concepts .

The 7roject is concerned with the QFINANCIAL 2OSSITION OF -OTH CO4S. %uring my tenure of research - & studied the various development tools and deeply analy?ed the functions. 7rior to ma*ing reference to wor*ing of the project prepared - the analysis and feasibility and all other aspect were ta*en into consideration . The research shows the financial position of company .

DECLARATION
&- 7riyan*a here by declare that 7roject report COM2ARATI3E FINANCIAL
STUDY OF UNITED INDIA INSURANCE CO4 H SHRIRAM INSURANCE CO4

assigned to me for the re>uirement of the degree of 2.6om. with 2an*ing D &nsurance for Huru*shetra University- is the original wor* D done by my personally and the information provided in the study is authenticated to the best of my *nowledge .

The study has not been submitted to any other institution of Univ. for the award of any other degree . &f this statement is wrong & shall be personally liable the conse>uences .

7riyan*a

AC$NO5LED&EMENT
$irst D $oremost & would li*e to convey my sincere than*s to all mighty 8od. and then )s. /nubha ( 5ect in 6ommerce + of %/G 8irls 6ollege F=C. She has been source of perpetual inspiration to me. She gently guided D inspired me towards a bright career through my course . & was very fortunate to have herself as my project guide . She is willing to give all *ind of support D encourage me with her valuable suggestions .

& would li*e to than*s my sincere and special to %r. ()s.+ Sushma /rya- principal of 6ollege- for her *ind cooperation and great regards for )rs. :atinder Haur - ,9% in college who gave me the practical *nowledge of all.

%ate @ WWWWWWWW 7lace @ WWWWWWWW

2ri#an"a Coll =o. @2 !!!!4 Univ. Coll =o. 2.6om. &&&

4;

CONTENTS
&ntroduction ,istory of &nsurance

6ompany 7rofile &ntroduction to Topic =eed of the Study 9bjectives of the Study

Cesearch )ethodology %ata /nalysis and &nterpretation $indings 6onclusion 5imitations Suggestions

 2ibliography