Table of Content

Part-I Company Introduction

1. Corporate profile 2

2. Bussiness profile 6

3. Milestones of the Company 10

4. Product profile 19

5. Financial analysis and ratios. 34

Part -II Introduction to the Project

1. Project introduction 36 2. Objective of the study and project title 36 3. Sampling Methods 38 4. Research Methodology 39 5. Data Analysis 42 6. Findings and Interpretation 49 7. Limitations of the research 49 8. Conclusion & Suggestions 50 9. Fieldwork 50 10. Bibliography 50 11. Annexure

1 1. Corporate Profile

History The Company celebrated its centenary in 1997. In 1897 a young man named gave up law and turned to lock making. Ardeshir went on to make safes and security equipment of the highest order, and then stunned the world by creating toilet soap from vegetable oil. His brother Pirojsha Godrej carried Ardeshir's dream forward, leading Godrej towards becoming a vibrant, multi-business enterprise. Pirojsha laid the foundation for the sprawling industrial garden township (ISO 14001-certified) now called Pirojshanagar in the suburbs of . Godrej touches the lives of millions of Indians every day. To them, it is a symbol of enduring ideals in a changing world.

The story of Godrej started in 1897. Ardeshir Godrej - at 29, infused with the swadeshi spirit - started manufacturing locks in a tiny shed adjacent to Bombay Gas Company at Lalbaug (Mumbai). Ardeshir moved restlessly from locks to safes, soaps and further. His brother Pirojsha Godrej joined the business in 1906 to place the business on a strong footing by nurturing these growing industries. The efforts and devotion of the brothers laid the foundation of a flourishing business which became a household name -'Godrej'.

The story of Godrej is one of change, development, success and achievements; of people involved in making Ardeshir's dream a reality. This story is synonymous with the growth of industry in independent .

Godrej Archives is a step towards preserving this saga of success. It aims at unfolding the contribution made by Godrej to the industrial history of India, as well as it's role in the country's future.

The idea of setting up Godrej Archives was first mooted in 1995 - when preparations for celebrating the centenary of Godrej began. It was a brain-child of late Sohrab Godrej, popularly called `Soli', who was already dedicated to the task of collecting, old documents and photographs reflecting the history of Godrej.

He envisioned Archives to be a heritage centre offering invaluable archival material for 2 reference and research. The objectives of Archives as laid down by him were as follows:

1. To help people understand the Company's ethos, growth; 2. Appreciate the quality of people who shaped these; 3. To trace the Company's values and commitments from the Founder's vision to the present day technological advances.

Godrej Archives is engaged in collecting, arranging, cataloguing and preserving archival material reflecting on the history of Godrej. Additionally, resources are being created in the form of oral history interviews for better understanding of the business and its evolution through the reminiscences of generations of the members and associates.

3 .

The

4 Established in 1897, the Godrej group has grown in India from the days of the charkha to nights at the call centers. Our founder, Ardeshir Godrej, lawyer-turned-locksmith, was a persistent inventor and a strong visionary who could see the spark in the future. His inventions, manufactured by his brother Pirojsha Godrej, were the foundation of today’s Godrej Empire. One of India’s most trusted brand, Godrej enjoys the patronage and trust of over 400 million Indians every single day. Customers mean the world for them. Godrej is happy only when we to see a delighted customer smile. With 7 major companies with interests in real estate, FMCG, industrial engineering, appliances, furniture, security and agri care – to name a few –turnover crosses 2.5 billion dollars. You think of Godrej as such an integral part of India – like the bhangara or the kurta – that you may be surprised to know that 20% of business is done overseas. Their presence in more than 60 countries ensures that the customers are at home with Godrej no matter where they go.

Companies 5  Godrej & Boyce

From locks to aerospace, furniture to construction, appliances to custom-built critical equipment, and several more, Godrej & Boyce has a diverse range of products and services.

 Godrej Industries

India's leading manufacturer of oleochemicals making more than a hundred chemicals for use in over two dozen industries. Its products also include edible oils, vanaspati and bakery fats.

 Godrej Properties

One of India’s leading real estate development companies focusing on residential, commercial and township development.

6 

A major player in the Indian FMCG market with leadership in personal care, hair care, household care and fabric care segments.

 Godrej Household Products

Godrej Household Products Limited (GHPL) is a wholly owned subsidiary of Godrej Consumer Products Limited. With strong brands like Good Knight, HIT, Jet, Ambipur, Brylcreem and Kiwi, GHPL is the market leader in the Indian household insecticides category and has a dominant presence in the air care, shoe care and male hair care markets.

 Godrej Hershey

A joint venture between the Hershey Company, USA and the Godrej group, it is one of India's leading businesses operating in Food and Beverages segment.

7

Diversified Agribusiness Company with interests in animal feed, oil palm plantations, agro chemicals and poultry. It is India’s largest animal feed company.

Other companies

 Godrej InfoTech  Godrej Efacec Automation and Robotics  Geometric  International operations.

Board of Directors

J. N. Godrej (Chairman and Managing Director),

Non executive Directors

Adi B. Godrej, Nadir. B. Godrej, V. M. Crishna, Kavas. N. Petigara, B. A. Hathikhanavala, F. P. Sarkari, P. D. Lam, K. A. Palia and P. P. Shah, Anita ramchandra.

Shareholders 8 Since its inception, the Company is controlled by the GODREJ family based in Mumbai, India. Its shares are not listed on any Stock Exchange. About one-fourth of the Company's share capital is held by Pirojsha Godrej Foundation, a public charitable trust.

Branches (Sales and Service) and Retail Showrooms

 Mumbai, Ahmadabad, Bhopal, Indore, Jabalpur, Pune, Raipur, Thane, Dombilivli  New Delhi, Chandigarh, Faridabad, Ghaziabad, Jaipur, Kanpur, Lucknow  Chennai, Bangalore, Coimbatore, Hyderabad, Kochi, Secunderabad, Trivandrum, Visakhapatnam  Kolkata, Bhubaneswar, Guwahati, Ranchi, Patna

The Company has a network of 38 Company owned Showrooms, more than 2,200 Wholesale Dealers, and more than 18,000 Retail out lets. The Company has Representative Offices in Sharjah (UAE), Nairobi (Kenya), Colombo (Sri Lanka) and Riyadh (Saudi Arabia).

Employees

10700 (including 2,000 in Sales and Service)

Bankers

 CENTRAL BANK OF INDIA UNION BANK OF INDIA  CITI BANK N.A ICICI BANK LTD.  STATE BANK OF PATIALA AXIS BANK LTD.  EXPORT IMPORT BANK OF INDIA

Statutory Auditors

KALYANIWALLA & MISTRY, Chartered Accountants 127 Mahatma Gandhi Road, Mumbai 400023

9 AWARDS

2005

October

D E Byramjee, VP & Business Head SED, received the Best Supplier Award, 2005" from NCR Corporation India Pvt. Ltd. On 24th October 2005 during the India Supplier Conference at Pondicherry

November

Mr. receives the BNHS Green Governance Award:2005 for the Category–Conservation & Restoration of Habitat on behalf of Godrej & Boyce Mfg. Co. Ltd., from the hands of the honorable Prime Minister of India Dr. Manmohan Singh in a function at the Vigyan Bhavan in New Delhi on 10th November 2006. The Aeronautical Society of India declares Mr. S M Vaidya the winner of Production Technology Award for the year 2005.

2006

March

Locks divisions, Goa Plant won the Goa State Safety award for longest accident free period in below 50 workmen & manufacture of basic metals & engineering industries category on 4th March 2006.

2007

24th August

Won the esteemed CNBC Consumer Awaaz Award for the Most Preferred Refrigerator for the third year in a row

10

1st November

On the 1st of November, 2007 Locks Division received the CII EXIM BANK AWARD FOR STRONG COMMITMENT TO EXCEL for the second year running. The award was presented at the QUALITY SUMMIT held in Bangalore.

December

Godrej & Boyce is awarded a Certificate of Merit, in General Category sector for the National Energy Conservation Award 2007 from the Ministry of Power, New Delhi for our efforts in Energy Conservation for the year 2007.

2008

January

Kaustabh Shukla, VP-Industrial Products, nominated to the Board of Trustees of Indian Nuclear Society for a term of two years.

February

Appliances division, Mohali has won the Vardhaman Quality Navigator Award at the 7th North-West Qualtech Awards held in February 2007 in Mohali.

March

The Young Environmentalists Programme trust awarded 21 successful women in their respective fields who were selected from over 100 nominated, on basis of excelling in their career as well as working towards leaving a legacy behind for the future. Among the 21 women awarded were Dr. Maya Mahajan (Mangroves Centre Godrej), MP Priya Dutt, Sneha Subhedar-Award winning horticulturists and Hiranandani landscapists, Juhi Pande

11 -Channel V VJ and nature enthusiasts, Sunita Pandey- Bombay Natural History Society and others

Godrej EON wins the prestigious “Mera Brand” of the year 2008 award in the 5th annual Consumer World Award (CWA) 2008 by the FMCG Federation of India. “Godrej eon ” won this award for the most preferred brand in the Frost-Free refrigerator Category

August

'Godrej & Boyce Mfg. Co.' has been awarded the “Business Superbrand 2008 status” by the independent Superbrands Council.

July

Godej Interio Plant 13 wins the IMTMA SIEMENS Productivity Championship Award 2008, for project entry on "OPTIMIZING METAL WORKING PROCESS. The IMTMA Siemens Productivity Awards are held once a year to recognize, reward and encourage achievers who have contributed to productivity improvement in India Metal working industries.

September

Locks Division and Tooling Division are awarded the National Safety Awards – Performance Year 2006 by Government of India, Ministry of Labour & Employment on 17th Sept. 2008 at a function in Vigyan Bhavan. Construction Division also bags the NSA for 'Lowest Average Frequency rate Scheme' (like the other two divisions) and Accident Free year scheme for maximum man hours worked without any fatal accident/ non-fatal accident

Two Kaizen Teams of PES Division have won Vishwakarma Rashtriya Puraskar (VRP) awards in the Import Substitution Category and Productivity Category. The award presentation function was held at Vigyan Bhavan, New Delhi on September 17th, 2008.

12 The awards were distributed by the Union Labour & Employment Minister, Govt of India.

October

Mr. Anil G Verma is included into the Board of Directors of Godrej & Boyce Nfg. Co. Ltd as Whole-time Director of the company with effect from 1st October.

Mr. Vijay Crishna is included into the Board of Directors of Godrej & Boyce Nfg. Co. Ltd as Whole-time Director of the company with effect from 1st October.

November

Mr. Jerome Bonnafont, French Ambassador in India adorned Mr. Nadir Godrej, MD - . with the Knight rank of the National Order of the Legion of Honour on 26th Nov.

December

Godrej & Boyce Mfg. Co. Ltd. is awarded the SHELL HELLEN KELLER Award 2008 in the category "Companies/ Organisations/ Institutions" who demonstrate their belief in equal rights and gainful employment for persons with disabilities.

Godrej & Boyce Mfg. Co. Ltd. is awarded "Best Employer Award" for year 2008 presented by NASEOH (National Society for Equal Oppurtunities for the Handicapped)

2009

March

CII-Sohrabji Godrej Green Business Centre receives an international award - Aspen Institute Energy and Environment Award under the NGO category for promoting energy efficiency and for offering environmental solutions

13 April

Godrej IT Park Project - P2 successfully achieves the Indian Green Building Council Certificate

May

Appliances receives the Reader's Digest Trusted Brand Gold Award 2009 for the 4th Consecutive Year in a glittering ceremony on 28th May 2009 at the Park Hotel, New Delhi

An appliance receives the following awards:

1. Reader's Digest Trusted Brand Gold Award 2009 for the 4th Consecutive Year

2. Consumer Super brand

3. Indian Institute of Materials Management Award for Stores and Warehouse management- Shirwal Plant (200)

December

Appliance division (Shirwal plant) wins the 1st prize in "PRODUCTIVITY / QUALITY IMPROVEMENT CASE STUDY COMPETITION 2009" organized by PDPC (Pune Division Productivity Council) at Pune

Mr.Rakesh Pisat from Plant 16A (PCS) wins the SAME (Society of Aerospace Manufacturing Engineers) AWARD under UDYAMIK category

Businesses of Godrej and Boyce Mfg. Co. Ltd

14 The Company has the following businesses (with respective ISO certifications), which manufacture and/or market a wide range of consumer durables and industrial products: 15  APPLIANCES (ISO 9001/14001)

Refrigerators, Washing Machines, Air Conditioners, Microwave Ovens and DVD Players

 “INTERIO” FURNITURE (ISO 9001/14001; OHSAS 18001)

Office Furniture - Desking, Seating, Open Plan Office Systems, Computer furniture and Storages; Home Furniture - Living, Dining and Bedroom furniture; Kitchen cabinets. Laboratory furniture; Marine accommodation; Healthcare furniture; Turnkey interiors; Carpet tiles; Mattresses

 LOCKS (ISO 9001/14001; OHSAS 18001)

Padlocks, Furniture locks, Mechanical and electromechanical door locks, Door Controls, Architectural and Glass Hardware, Customized solutions and “Cartini” range of Scissors, Knives and Kitchen Accessories

 SECURITY SOLUTIONS (ISO 9001/14001; OHSAS18001)

Strong Room Doors, Safe Deposit Lockers, Data/ATM Safes, Burglary and Fire Resisting Safes; Record & Filing Cabinets, Cash Boxes, Coffers Electronic Safes, Hotel Safes; Currency Sorters & Cash Counting Machines; Fire Doors, “Entranza” Home Doors; Marine Doors & Hatches; Premises Security Solutions; Surveillance, Scanning and Screening Systems; Baggage Scanners, Door Frame Metal Detectors, Access Control Systems; Fire and Burglar Alarm Systems, Video Door Phones

 “PRIMA” VENDING AND AUDIO-VISUAL SOLUTIONS (ISO 9001)

Vending Machines and Operations (Services), Audio Visual Solutions

16  STORAGE SOLUTIONS (ISO 9001)

Shelving and Racking systems (Static and Mobile), Drive-in System, Cantilever System, Mezzanine Floors, Gravity Flow System, Special Warehousing Solutions, Tool Storage Cabinets, Work surfaces, Trolleys and Warehousing Consultancy

 MATERIAL HANDLING (ISO 9001/14001; OHSAS 18001)

Forklift Trucks (Diesel, Electric and LPG) and Attachments; Warehouse Trucks; Tyre Handlers; Tele Handlers; Container Handling Trucks; Industrial Cleaning and Personal Access Equipment; Spare Parts, Service and Maintenance Contracts; Trucks on Hire, Pre-owned Trucks

 INDUSTRIAL PRODUCTS (ISO 9001/14001)

Sheet Metal Dies, Die Casting Dies, Thermo-compression Moulds, Special Purpose Machines, Jigs and Fixtures, High Precision Components/Equipment for Engineering and allied industries, Sheet Metal Working Machines – Sales and Service

 PROCESS EQUIPMENT (ISO 9001/14001; OHSAS 18001; ASME ‘U’, ‘U2’,‘U3’, ‘S’; NBBI ‘R’; AD Merkblatt ‘HP0’; Chinese ‘SELO’)

Heavy Walled Reactors, High Pressure Vessels, High Pressure Shell and Tube Heat Exchangers, Reactor/Tower Internals and Trays

 ELECTRICALS AND ELECTRONICS (ISO 9001/14001, OHSAS 18001)

17 Busbar Power Distribution Systems, Compressors and Compressed Air Control Systems, Industrial Electronics and Automation, Energy Conservation and Green Building Services, Turnkey Electrical and Power Infrastructure Projects

 “LAWKIM” ELECTRIC MOTORS (ISO 9001/14001/17025, CMRI, UL)

Motors (FHP, Custom-designed and Metric Motors for Hermetic, HVAC, General Purpose Applications), Calibration and Testing (Electro-technical and Thermal Calibration)

 CONSTRUCTION AND REAL ESTATE(ISO 9001/14001; OHSAS 18001)

Ready Mix Concrete, Construction Projects, Property Development, Real Estate Leasing and Services

Products and services of G & B.

18  Appliances

Offerings in the refrigerator, washing machine, air conditioner and microwave oven ranges.

 AV Solutions

Display solutions, audio video conferencing solutions, electronic copy boards.

 Construction

Variety of construction services like real estate development, ready mix concrete, horticulture and enviro-tech.

 Electricals and Electronics

Industrial automation, power distribution, compressed air solutions & green business commissioning.

19  Furniture

Furniture for home, office, hospitals, establishments, labs, educational institutions, shipyards and defense .

 Lawkim Motors

Specialized custom built compressor motors.

 Locks

Locking solutions for different security needs to ensure optimum safety.

 Material Handling

Counter balance trucks, forklift trucks, tyre handlers, all terrain trucks, attachments and accessories.

 Precision Engineering

Critical custom-built precision engineering equipments for multiple applications.

20  Tooling

Die casting dies, press tools, special purpose machines and engineering services.

 Vending

High quality table top beverage vending machines, services and beverages.

 Precision Systems

Machining & fabrication, heat & surface treatment, assembly, testing & supply of complex...

Security Solutions

Safes, lockers, banking automation products, electronic security systems, premises security

 Storage Solutions

Warehousing solutions, automation and consulting.

Godrej Locks Division 21 Godrej Locks is a business unit of Godrej & Boyce Mfg. Co. Ltd.

The Godrej story began in 1897 with the manufacture of Locks. Since then, Godrej Locks has set several benchmarks in the locks industry – from the first spring-less lock in 1907 to the iconic 'NavTal' in 1954 to the Ultra range in 1995 to the revolutionary 3KS in 2007. From a state-of-the-art manufacturing facility in a suburb of Mumbai, Godrej Locks provides locking solutions that reach homes, offices, industries and the hearts of millions of people in India and around the world for whom ‘locks’ means Godrej.

Locks :( ISO9001) 22 Features of the locks

 Padlocks

Double locking facility for extra security Strong riveted joints Satin finish Hardened chrome finish shackle

23  Disk Pad lock

Enclosed construction prevents break-opening by crowbar Hardened chrome plated steel shackle resists cutting Body made of stainless steel Dimpled keys made of brass S S weather caps prevents entry of dust Brass cylinder ensures durability

 Furniture locks

5 tumbler locking mechanism for optimum security Reversible key Fits unobtrusively on to panel surface

 Rim locks

Double security through latch bolt and deadbolt Dead bolt with double throws for extra security Convenient safety knob provides: - Door holdback feature, preventing accidental door closing and therefore lockout Situations - Privacy by preventing entry from outside using key Corrosion resistant cylinder, rose and keys for superior reliable performance, Scratch resistant powder coated beige finish on body Knob on inside operates deadbolt and serves as door pull

24  Mortise locks

Precision 6 lever locking mechanism Operable by key from outside as well as inside Superior chrome-plated handles Latch bolt and deadbolt made of brass. Latch bolt is reversible.

 Cylindrical locks

Robust Brass/ Knobs Push button facility to lock from inside Pin Cylinder Mechanism Three keys made of brass

Customers, Applications and Services

 Banks 25 Customer Needs: Complete security solutions for banking sector - main entrance, tellers, cashiers and lockers for staff and customers.

Godrej Solution: Standard and customized products with technology ranging from lever to multi-row pin cylinder and electromechanical systems.

Key Customers State Bank of India. Maharashtra Bank. Central Bank. Dena Bank.

 Hospitals

Customer's Need: Locking mechanism complemented by reliable architectural hardware for emergency and non emergency doors.

Godrej Solution: Architectural hardware and security solutions.

Key Customers:

Wockhardt Hospital Asian Heart-Mumbai AIIMS-Delhi Aditya Birla Hospital-Pune

 Telecom

Customer's Need: Security for shelter of broadband transmissions sets,

Godrej Solution: Customized Ultra locks with e strike mechanism.

Key Customers: Reliance Infocomm Motorola

 Airport

Customer's Need: Dual control locking facility point-to-point transfer of funds documents and articles

26 Godrej Solution: Customized Ultra locks with interlocking arrangement.

Key Customers Jet Airways

 Industrial Safety

Customer's Need: Workplace safety management

Godrej Solution: Spark proof, visually distinct padlock with high non- interchange ability for safety applications.

Key Customers

Tata Steel

 Education

Customer's Need: Security solutions for a variety of entrance / exit functions and utility areas

Godrej Solution: Cylindrical locks with master key. Storeroom locks, communicating locks, classroom locks, passage set with master key. All locking options integrated with easy administration controls,

Key Customers:

Sagar School, IIMs-Ahmadabad, Bangalore NT-Mumbai, Roorkee, Lucknow, Guwahati All Regional Engineering Colleges

 Petroleum

Customer's Need: Security management system for fuel transportation

Godrej Solution:

27 Customized pilfer proof; unpick able, spark proof padlocks and accessories along with key management systems.

Key Customers: IOCL HPCL BPCL IBP MRPL ONGC

 It/Ites

Customer's Need: CPU protection and restricted access,

Godrej Solution: Specialized mini padlocks and common key arrangement for operational convenience,

Key Customers: HEWITT Cisco Kyocera

 Power

Customer's Need: Safety and convenience for maintenance of power sub stations and transmission points.

Godrej Solution: Customised padlocks with common key and master key system for user convenience.

Key Customers: BSES Rajdhan BSES Yamuna

 Real Estate

Customer's Need: Contemporary Builder and Architectural Hardware

Godrej Solution:

28 Mortise locks, Door hardware, Locks an Latches, door accessories,

Key Customers: All key Builders and developers of the country,

 Defence

Customer's Need: Locking solution for ports S ships

Godrej Solution: Multi-row Pin Cylinder Complex Master Key Systems, Door Closers, Mortise locks with handles provided for various areas.

Key Customers: Seabird Ship maintenance project-Karwar, INSKhanjar.etc,

 Dairy

Customer's Need: Security in transportation of Milk,

Godrej Solution: Multi-row pin cylinder technology, designed which is re- key able, is lightweight, can be upgraded to high technology in the future and is uniquely colour and number coded and system maintained for further usage.

Key Customers: Rajasthan Dudghdalaya-Jodhpur Dairy Pali Zila Dudgh Utpadak Sangh

 Corporate Office

Customer's Need: Corporate Office Solution,

Godrej Solution: Multi-row Pin Cylinder complex central locking-Master Key systems for various office areas like Central Door T Cabins, Facilities, etc.

Key Customers: Knorr Brehme-Delhi Office Digital-Bangalore Wipro-Kolkata European Union Office-Delhi

29  Oems

Customer's Need: Common locking system for lockers, peripherals, enclosures,

Godrej Solution: Panel locking system with Cam-locks

Key Customers: HCL Peripherals, Valrakh Mumbai DATS Pondy, Acoustic Goa, Paikane Group-Goa  Press

Customer's Need: Hi security in printing currency notes,

Godrej Solution: Godrej multi-row Pin cylinder Push button locks easily replacing the existing KABA (imported lock) Locks in common-key sets as per the user controls.

Key Customers: Bank Note Press - Dewas, Nasik.

 Hotel industry

Customer's Need: Flexible security management solutions for high level of in- transit occupancy and utilities,

Godrej Solution: Packaged solution of electromechanical door locks, access controls, hotel safes and master key systems,

Key Customers: Various class and segments in the hotel Industry

 Salient features of Godrej Locks Service

More than 300 Service Centres across the country to provide installation, repair & emergency services.

24 hr toll free helpline facility (first in the industry) in more than 150 major cities.

30 Free Installation for Ultra Products (excluding Ultra Shutter Locks and Ultra Pad Locks).

Annual Maintenance Contract (AMC) for Hi-end electro mechanical products & Institutional customers.

31

32

PROFIT AND LOSS STATEMENT FOR THE MONTH ENDED APRIL AND MAY 2009

33 (Rs. In Crores)

PARTICULAR LOCKS PRIMA APPLIANCES SECURITY Interio TOTAL SALES 11,378,72 11,990,41 14,256,68 SALES-TRADED PRODUC 3 1 17,583,140 5,292,587 3 60,501,543 24,509,97 SALES-OWN MANUFACTU 2,593,943 86,587 50,705,126 4,174,651 4 82,070,280

SALES-SPARES & AFTE 0.00 274,684 0 0 0 274,684 SALES-EXCISE DUTY R 203,427 1,052 2,844,708 385,344 1,809,947 5,244,478 14,176,09 12,352,73 40,576,60 TOTAL OF SALES (A) 3 3 71,132,974 9,852,582 3 148,090,985 17,701,83 COST OF GOODS SOLD 9,186,794 1,688,829 16,543,784 2,212,524 7 47,333,767 Cost of Sales – Tra 0.00 6,139,554 0 5,252,226 0 11,391,780 17,701,83 TOTAL OF COGS (B) 9,186,794 7,828,383 16,543,784 7,464,750 7 58,725,548

22,874,76 GROSS PROFIT (A-B)=(C) 4,989,299 4,524,350 54,589,190 2,387,833 6 89,365,437

INCOME INTEREST RECEIVED 206 0 64 0 0 270 MISC RECEIPTS 0 0 202,895 0 183,478 386,373

TOTAL OF INCOME (D) 206 0 202,959 0 183,478 386,643 23,058,24 TOTAL (C+D)=(E) 4,989,505 4,524,350 54,792,149 2,387,833 4 89,752,080

EXPENSES:

ESTABLISHMENT EXP.(SALES) 166,408 65,319 12,878,831 9,587 1,796,518 14,916,664

ADMINISTRATION EXPS. 1,195 1,397 24,103 30,992 14,728 72,415 FREIGHT COMBINED 60,591 746 59,445 114,638 341,539 576,959 BANK CHRS. 110 0 436 0 20 566

CONVEYANCE & VEHICLE 4,916 41,472 38,035 28,044 10,753 123,220 OTHER EXPS. 3,067 10,554 159,833 6,131 37,559 217,144 OTHER PURCHASES 0 5,957 5,893 3,311 8,476 23,637

REBATES/ALLOW TO DE 0 0 -10,075,933 -88,653 0 -10,164,586 TOUR EXPS. 86,476 49,014 149,777 103,468 57,691 446,426

34 TOTAL OF EXPENSES (F) 322,764 174,459 3,240,420 207,517 2,267,284 6,212,444

20,790,96 NET PROFIT (E-F)= (G) 4,666,741 4,349,891 51,551,729 2,180,315 0 83,539,636

% CONTRIBUTION IN PROFIT 6% 5% 62% 3% 25%

PRIM APPLIANC SECURI Interi PARTICULAR LOCKS A ES TY o (IN %) GROSS PROFIT TO SALES RATIO (GROSS PROFIT/SALES) 35.20% 36.63% 76.74% 24.24% 56.37%

NET PROFIT TO SALES RATIO (NET PROFIT/SALES) 32.920 35.214 72.472 22.129 51.239

INCOME TO SALES RATIO (INCOME/SALES) 35.197 36.626 77.028 24.236 56.826

FREIGHT TO SALES RATIO (FREIGHT/SALES) 0.427 0.006 0.084 1.164 0.842

CONVEYANCE & VEHICLE TO SALES (CONVEYANCE/SALES) 0.035 0.336 0.053 0.285 0.027

OTHER EXPS. To SALES (OTHER/SALES) 0.022 0.074 1.127 0.043 0.265

TOUR EXPS.TO SALES(TOUR/SALES) 0.610 0.346 1.057 0.730 0.407

35 Project Introduction

A project from Godrej & Boyce Mfg. Co. Ltd. a division of Godrej group of companies. The topic of the project was "Market research for the opportunities of Godrej locks in construction areas."

I waned to be help full for the organization I have done survey for the need/demand in the market for these products equally. I asked to do the market survey to know the actual need of the locks and equipment in different types of construction area.

My major focus was on the factors that were finding out the opportunities in the construction areas. I have got good responses majority was positive.

My chosen areas for my project were whole Ahmadabad and nearby that where these types of segments were located.

Project Title

"Market research for the opportunities of Godrej locks in construction areas."

It is incumbent on the researcher to clearly define the target population. There are no strict rules to follow, and the researcher must rely on logic and judgment. The population is defined in keeping with the objectives of the study.

Sometimes, the entire population will be sufficiently small, and the researcher can include the entire population in the study. This type of research is called a census study because data is gathered on every member of the population.

36 Usually, the population is too large for the researcher to attempt to survey all of its members. A small, but carefully chosen sample can be used to represent the population. The sample reflects the characteristics of the population from which it is drawn.

Sampling methods are classified as either probability or nonprobability. In probability samples, each member of the population has a known non-zero probability of being selected. Probability methods include random sampling, systematic sampling, and stratified sampling. In nonprobability sampling, members are selected from the population in some nonrandom manner. These include convenience sampling, judgment sampling, quota sampling, and snowball sampling. The advantage of probability sampling is that sampling error can be calculated. Sampling error is the degree to which a sample might differ from the population. When inferring to the population, results are reported plus or minus the sampling error. In nonprobability sampling, the degree to which the sample differs from the population remains unknown.

Random sampling is the purest form of probability sampling. Each member of the population has an equal and known chance of being selected. When there are very large populations, it is often difficult or impossible to identify every member of the population, so the pool of available subjects becomes biased.

Systematic sampling is often used instead of random sampling. It is also called an Nth name selection technique. After the required sample size has been calculated, every Nth record is selected from a list of population members. As long as the list does not contain any hidden order, this sampling method is as good as the random sampling method. Its only advantage over the random sampling technique is simplicity. Systematic sampling is frequently used to select a specified number of records from a computer file.

Stratified sampling is commonly used probability method that is superior to random sampling because it reduces sampling error. A stratum is a subset of the population that share at least one common characteristic. Examples of stratums might be males and females, or managers and non-managers. The researcher first identifies the relevant stratums and their actual representation in the population. Random sampling is 37 then used to select a sufficient number of subjects from each stratum. "Sufficient" refers to a sample size large enough for us to be reasonably confident that the stratum represents the population. Stratified sampling is often used when one or more of the stratums in the population have a low incidence relative to the other stratums.

Quota sampling is the nonprobability equivalent of stratified sampling. Like stratified sampling, the researcher first identifies the stratums and their proportions as they are represented in the population. Then convenience or judgment sampling is used to select the required number of subjects from each stratum. This differs from stratified sampling, where the stratums are filled by random sampling.

Sampling Used Under this project

Convenience sampling is used in exploratory research where the researcher is interested in getting an inexpensive approximation of the truth. As the name implies, the sample is selected because they are convenient. This nonprobability method is often used during preliminary research efforts to get a gross estimate of the results, without incurring the cost or time required to select a random sample.

Judgment sampling is a common nonprobability method. The researcher selects the sample based on judgment. This is usually and extension of convenience sampling. For example, a researcher may decide to draw the entire sample from one "representative" city, even though the population includes all cities. When using this method, the researcher must be confident that the chosen sample is truly representative of the entire population.

Snowball sampling is a special nonprobability method used when the desired sample characteristic is rare. It may be extremely difficult or cost prohibitive to locate respondents in these situations. Snowball sampling relies on referrals from initial subjects to generate additional subjects. While this technique can dramatically lower search costs, it comes at the expense of introducing bias because the technique itself reduces the likelihood that the sample will represent a good cross section from the population. 38

Research is the systematic process of collecting and analyzing information to increase our understanding of the phenomenon under study. It is the function of the researcher to contribute to the understanding of the phenomenon and to communicate that understanding to others.

Objectives of the research:-

1. To find out market opportunities.

2. To study consumer buying habits.

3. To find out effectiveness of the brand in market.

4. To find out customer satisfaction level.

Types of Market Research

Market research is the process of finding information about your competitors, current market trends or your customers. Most companies invest in market research when they release a new product, improve on an existing product or if they plan on introducing a particular product in a new market.

Market research can also prove helpful if you want to explore business opportunities in new markets. Market research can be conducted by two methods, primary research or secondary research.

Primary research

Primary research refers to information that is directly collected from the source. Another simple method of primary research would be to directly talk to your customers and get

39 their feedback. Primary research can be both qualitative and quantitative.

1. Qualitative primary research

Qualitative primary research involves gathering information from interviews or focus groups.

Open-ended interviews include questions that cannot be answered with a yes or no. You can get a lot of information from such interviews and also find out about the dislikes, likes, requirements, trends and emotional motivators of your primary market

A focus group should ideally be led by experienced professionals who can lead a group of 6 or more people and ask them both general and specific questions. Since trained professionals are required to handle focus groups, they are very expensive

2. Quantitative primary research

Quantitative primary research involves the collection of numerical information from surveys. This information is then analyzed.

Surveys can provide you with the information you require if the survey has meaningful questions. More people would be willing to take a survey as it takes less time. The cheapest and easiest way of conducting a survey is through the telephone and on the place where your product is being sold

CATI Surveys

The best way to out beat competition is to listen to your consumers. Although there are several methods of collecting reliable data from your customers, most data collection is conducted through CATI (Computer aided telephone interviews) which are cost-effective

40 as well as reliable. CATI/Telephone surveys are the most effective method of collecting data from customers.

The process of the CATI survey is based on the objective brief, survey draft, call script and the lead list that is usually provided by the company who wants to conduct the survey. The right resources are identified and the technology /infrastructure needed to conduct the telephone surveys allocated. The CATI surveys are then conducted. The accuracy of the data can be measured and optimized through call center CRM technology.

CATI surveys can help you get an insight on why your customers are dissatisfied. You can also find out where your product/service stands in comparison to competitors. Based on the feedback that you get from your customers, you can customize your product to meet the requirements of your consumers.

Secondary market research

Secondary research is more economical and easier to do when compared to primary research. Here you will have to analyze the information that has been collected for some other reason. You can find the data that you require through a set of articles, demographic/ statistical data, studies etc.

By investing in secondary market research you can analyze your target markets, evaluate your competitors and assess political, social and economic factors. The internet has a large number of secondary data sources and most resources, magazines and press releases are now available online.

Three basic research methods adopted in this research.

Primary research.

1. Personal Interview method.

2. Telephonic interview method.

41 Secondary research.

1. Internet

2. News papers.

Data Analysis

Q) Expected ending month/year of the project.

1) July to December-2010 (2) January to june-2011 (3) After june-2011

Q)Types of the Project.

1.Row houses 2. Appartment/flats 3. Mall 4. Bunglow 5. Corporate bulding 6.Any other

42

Q) Current status of the project

1) 0 to 25% 2) 25 to 50% 3) 50 to 75% 4) 75 to 100%

Q) Are you looking for sample house?

43 Q) Which Types of locks are you looking for?

1) Padlocks 2)Furniturelocks 3)Rimlocks 4) Cylindrical

5) Mortiselocks

Q) What do you consider while purchasing the locks?

1) Quality 2) Price 3) Brand name 44 4) After services 5) Varity 6) Looks

Q) Are you looking locks for,

Only for main doors

For Main and Internal Doors

Q) What first comes in your mind When you heard about Godrej locks?

Quaqlity & Brand name Price After services Varity Looks

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Q) How do you consider Godrej locks as?

1) Excellent 2) Good 3) Average 4) Bad 5) Worst

Q) Are you looking for Purchasing the Godrej locks?

YES NO NOT DECIDED

46

Q) Will you try to call Godrej locks before buying any locks?

Yes No

Q) Do you think that Godrej Locks will add value to your House?

47 Findings

48  Most of the respondents are willing to buy Godrej locks and also given name of the project site and phone number who wants to buy.  Majority of them are looking to by locks only for main doors.  All of them think that Godrej locks will add value to their Project.  Most of the respondents will think to buy Godrej locks before buying any products.  Except 3 to 4 complains about services all of them consider Godrej locks as good brand.  It seems that Brand name influence the buyers and its good working for Godrej locks  All of them consider Godrej locks as high Quality brand.

Limitation of the Research

The researcher tried to make the research work as accurate & authentic as possible. However the following constraints were still unavoidable:

 The information provided by the respondents on which all the results were drawn cannot be denied that here was always a possibility of response error.  The respondent’s were in segments so the time taken to interview with them was too much.  The study was conducted within a time frame work of two months duration only.  The respondents feel reluctant about the survey conducted.  Secondary data could not be fully utilized because of difficulty in assessing it.

Suggestions

49  There are lots of small to medium segment construction projects are going so Godrej locks Should also consider this segments in construction area they can also give good amount of business.  Godrej locks should strengthen or improve services department as there are some complains about after services.

Field Work

At the end after finishing up the problem definition and research design, researcher conducted the actual data collection procedure. This is called fieldwork. The researcher has encountered with an average number of problems during his fieldwork, respondents refuse to cooperate sometimes, unable to give proper time, not interested to meet & the bargaining nature of the businessmen etc.

Bibliography

Website referred: BOOKS: www.godrej.com Marketing www.godrejlocks.com

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