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that the project work presented in this report is my own work and has carried it out
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DATE:
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Preface
In the era, where today’s world, India and its citizens stand-is the one
where everyday new things come up and in very few time becomes an
outdated item.
To learn and know all this, it is necessary for the students to visit
industries in different sectors.
I have visited Madhu Silica Pvt. Ltd. and have tried to present a
project report a solid proof of my visit, covering all the different parts of the
industry from the past of the industry said my experience of the visit.
Acknowledgement
I am feeling great pleasure in submitting this survey of Madhu
Silica Pvt. Ltd. as a part of practical study. This project helped me a lot in
acquiring valuable knowledge regarding silica.
Perhaps language is the device that can give only the slight view about
it, but I have done it with my best effort.
Thank you.
Signature:
Company Profile
HEAD OFFICE :
40, G.I.D.C. Estate
Chitra,
Bhavnagar-364004
Gujarat, India.
PHONE :
(0278) 2445415
2445437
2446161
FAX :
(0278) 2446159
2569183
GRAM :
Madhu
E-MAIL :
madhusilica@mailexcite.com
WEB SITE :
www.madhusilica.com
BANKERS :
State Bank of Saurashtra
H.D.F.C.
Industry Family
1. MR. RAMESH SHAH
-Managing Director
…Index …
Candidate’s statement
Preface
Acknowledgement
Company Profile
Industry Family
GENERAL INFORMATION
HUMAN RESOURCE DEPARTMENT
MARKETING DEPARTMENT
FINANCE DEPARTMENT
General Information
General Information
1. History and Development of unit
2. Size of unit and form of organization
3. Manufacturing process and products
4. Organization structure
5. Time keeping system
6. Employee services
The changes in the firm came when the next generation promoter
joined the firm, he was Mr. Ramesh Shah. The commercial production of
MFIL range of precipitated silica to suit the requirements of rubber industry
began in 1978. Ten years later; in 1988 saw the rechristening of the company
to Madhu Silica Pvt. Ltd.
Organization Structure
Managing Director
Account Laboratory
Assistants Assistants
They have only 8 holidays in a year. For the supervisory staff, there
are very few holydays. But they do get leave for a specific or worthwhile
reason.
Employee Services
No much detailed information is given in this section except some.
To get more out of workers recent trend in the private sector is that they have
workers on department basis but pay them on contractual basis. But no such
things exist in the industry.
Human Resource
Department
Human Resource
Department
Madhu Silica Pvt. Ltd
Uvesh Popatia
1. Introduction
2. Recruitment, Selection and Induction
3. Training and Management development
4. Job description (management level only)
5. Promotion and transfer policy
6. Performance appraisal system
7. Wage and salary administration
8. Working of E.S.I. scheme
9. Study of provident fund scheme
10. Grievance handling procedure
11. Personnel Records
Introduction
Madhu Silica Pvt. Ltd
Uvesh Popatia
1. Total number of employees : Permanent 145
Temporary 55
5. Bonus : Yes
Job Description
The worker is apprised basically by giving them financial and
material rewards. There are less chances of getting promotion in the dress of
performance appraisal. There is less opportunity of getting promotion in this
company.
At Madhu Silica Pvt. Ltd. the employees are promoted not by their
post but by their salary. There is an increment in their salary but not by change
in post. Sometimes there are changes in posts also but they are very few.
Generally their post or designation remains the same.
To get more out of workers recent trend in the private sector is that
they have workers on permanent basis but pay them on contractual basis. But
no such things exist in this company. Though they do sometimes need workers
on contractual basis for unloading the raw material.
Madhu Silica Pvt. Ltd. provides the E.S.I. according to the rules laid
down by the government.
Grievance Handling
Procedure
Grievance handling means if any dispute arise, the way of handling
such situations and the necessary steps to solve the problems which are
Madhu Silica Pvt. Ltd. in which all the employees can directly
approach the directors if any problem arises. The directors try to solve their
problems that the employees are satisfied upto the possible extent.
Madhu Silica Pvt. Ltd. keeps very good relationship with its
employees. All the employees are satisfied with the working of the company
and the management. The company does not keep any employees in the dark.
The company takes advice from its labour lawyer.
Personal Records
Personal records of each and every worker are maintained here. It
includes attendance of the workers, which inform the management about their
performance. It also includes their salary records, training records, attendance
Madhu Silica Pvt. Ltd
Uvesh Popatia
regarding their presence in special seminars and even details regarding their
family is also maintained.
Marketing
Department Madhu Silica Pvt. Ltd
Uvesh Popatia
Marketing Department
1. Product Planning
2. Market Segmentation
3. Pricing Policies
Product Planning
In this firm, there is separate R & D Department for development of
new products and researches. The need of customers for the different grades of
silica is identified and accordingly they are produced and tested at the R & D
Market Segmentation
To any marketing of a firm, an understanding of its market and
market dimensions is undoubtedly very important. However aggregates of
buyer-seller relationship and consumer demand, though important, lose much
Madhu Silica Pvt. Ltd. has also divided its market accordingly, as
silica is an industrial product; the segmentation is done on the bases of
different industries using silica. The industries using silica are Tyre industry,
Tooth paste industry, Pesticides, Pharmaceuticals, Detergents, Salt, Rubber
rollers, Conveyor belts etc. They have further divided these industries into big
users and small users of silica. Silica is an end use application product as a
result the segmentation accordingly. The company is able to identify its
different markets and able to reach many customers. The company has
distributors in the main cities of the country. These all distributors are
connected internally and they act accordingly.
Pricing Policies
Being a private limited company, I can’t give much information
about the pricing of the product.
Thus, this company has to set up its price more on the basis of
competitors than on their supply and demand.
Channels of Distribution
Distribution channels play a very important role in achieving the
marketing objectives. Undoubtedly value utility is created by the manufacture
Sales Promotion
Madhu Silica Pvt. Ltd
Uvesh Popatia
Product manufactured by this company is not a fast moving one, so
there are less promotional schemes. Sales promotion schemes for this company
can be termed as negligible. The only promotional point they give is pricing.
This benefit is specifically given to the regular customers buying above certain
limit.
Advertising
Madhu Silica Pvt. Ltd
Uvesh Popatia
This company manufactures a producer’s based product, so no such
formal advertising of the product is undergone. Mostly publicity of the product
is done via dealers, professional meetings with directors of the customer
company’s, participating in trade fairs and advertising on net and sometimes in
news papers.
Market Research
Madhu Silica Pvt. Ltd
Uvesh Popatia
The company as such is under taking market research. Some times
samples of competitors are collected and investigated for the different
proportions of mixture and quality of their product is checked.
Finance Department
1. Introduction
Madhu Silica Pvt. Ltd
Uvesh Popatia
2. Accounting system
3. Financial planning
4. Capital structure
5. Working capital management
6. Cash and Bank management
7. Fixed asset management
Introduction
Approximate capital invested : 25 to 30 crore
Madhu Silica Pvt. Ltd
Uvesh Popatia
Capital invested by : Owners and Bankers
Provision of depreciation : RBM method
(Reducing Balance Method)
Accounting Systems
Madhu Silica Pvt. Ltd
Uvesh Popatia
Any company should select the proper accounting system for its
financial transactions. If the selection of the accounting system is appropriate,
than only that system is beneficial for the company.
All the debtors’ and the creditors’ list are also prepared. So,
whenever the company wants any information about the accounts, we can
obtain the computer information very quickly.
Their monthly sales is around 800 tons and the ratio of assets and
liability of the company is 2:1 which shows that the company is trust worthy
and sound.
Capital Structure
Capital structure can affect the value of the company by affecting its
expected earnings. Any company will have to decide on its capital structure
Madhu Silica Pvt. Ltd
Uvesh Popatia
very efficiently. While it is true that financing mix can’t affect the total
earnings of a firm as they are determined by the investment decision. It can
affect the share of earnings belongings of the shareholders. The capital
structure decision can influence the value of the firm through the earnings
available to the share holders. The importance of an appropriate capital
structure is thus obvious. There is a view point that strongly supports the close
relationships between leverage and value of a firm. In other words, there is
northing such as optimum capital structure.
Working Capital
Management
Madhu Silica Pvt. Ltd
Uvesh Popatia
Working capital management is concerned with the problems that
arise in attempting to manage the current assets. The current liabilities and the
inter-relationships that exist between them. The term “current assets” refers to
those assets which in the ordinary course of business can be or will be turned
into cash within one year without under going a diminution in value and
without disrupting the operations of the firm.
Madhu Silica Pvt. Ltd. handles cash and bank very carefully.
Regarding cash, the company has the petty cash system. All the small expenses
are done in cash. That includes the miscellaneous expenses such as office
expenses and other day to day expenses. Whenever the company needs cash,
the only income for the company in cash is from the bank. The company
withdraws cash from the bank, whenever it needs. All the payments of the
company are in form of bank draft only. So, it does not have any income in
form of cash.
The total assets of Madhu Silica Pvt. Ltd. are worth of Rs.12 crore and
96 lakhs. This includes all it assets including the land, building, machinery,
equipment, R & D department instruments etc. The company has a policy of
wealth maximization. The company has increased a lot of its assets. The
company is constantly increasing its assets.
With very ease Ms. Neepa Mehta had been supplying the
information except for some of the financial staff, which normally private
companies do not give. While visiting the company only thing I felt that the
company does not have is its publicity. It may be because of the manufacturing
of producer’s goods. Thus, completing my project I would like to say is my
visit was very comfortable and knowledge imparting.
Thank you.