Vijay Ajanta

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					Class           : F.Y.B.B.A.
Academic Year   : 2005-2006
Roll No.        : 45
Seat No.        :
College         : Christ College, Rajkot
                DECLERATION
          I, the under signed, Vijay Parmar a student of F.Y.
B.B.A here by declare that the project work presented in this
project report is my own work and has been carried out under
the supervision of Ms. Darshita Ganatra of Christ College
Rajkot.


          This work has not been previously submitted to any
other university for any examination.


Date :-


Place :- Rajkot
                                          Signature
                                          (Vijay Parmar)
                    PREFACE
       We know that training is for development in particular
field with which. We are concerned. In each and every field
of life. Practical knowledge is necessary, only theoretical
knowledge is not enough. So, Christ College made it
compulsory of B.B.A. student to go for Industrial Training.


       The real aim of our practical knowledge in each
department is to absorb knowledge about the technique,
method, logic that is management carried out in the industry.
And I clear the picture of practical field. It promotes the
students to develop talent qualifies.


       I have under taken practical prepare at “AJANTA
QUARTZ” at Morbi in Rajkot District.


       I tried my level best to prepare this industrial report
which is prepared this industrial report, which is prepared on
whole the company‟s development.


       I hope that this report will satisfy all necessary and
useful needs of y syllabus and serve all purposes of it.
           ACKNOWLEDMENT
          It gives me immense pleasure to express my deep
sense of gratitude to my guide of this project DRSHITA
GANATRA. They provide me all required guidance for the
final competition of this project report.


          I would specially like to thank Shri Pravinbhai Patel
(Managing Director) and Shri Rajive Ranjan (Marketing
Manager) for their complete guidance and total involvement
in my report for project work. Once again I thankful to all
staff members of “AJANTA QUARTZ” and those who
helped me directly of indirectly in completion of this project
work.


Thanking You,




Place :
Date :                                      Signature
            General Index

Sr.         Particulars        Page No.
No.
  1.   General Information
  2.   Production Department
  3.   Personnel Department
  4.   Marketing Department
  5.   Finance Department
  6.   SWOT Analysis
  7.   Future Plans
  8.   Suggestion
  9.   Conclusion
  10. Bibliography
      General Information

                Contents

Sr. No.   Particulars              Page No.

1.        History
2.        Profile of the Company
3.        Organization Structure
                     HISTORY
       “Ellora Time Ltd. “ has been started in 1991. Initially,
the company started with the time piece and then diversify to
calculators and telephones. The brand name of the clock is
“REVA” clocks. Mrs. Revaben Patel is the wife of Shri
Odhavjibhai patel. After the death of Revaben Patel, the
brand name “REVA” was chosen.


       Approximately, the product of “ELORA TIME LTD”
is 45,000 wall clock per day and 6000 employees working in
the company out of them 90% are female employees.


       “ELLORA TIMES LTD.” is a part of a ORPAT
industrial estate. ORPAT group of companies have been
built-up an area of 15,00,000 sq. ft. and an overall carpet area
of 10,00,000 sq. ft. and the group is currently providing
employment opportunities to female workers. AJANTA and
ORPAT is manufacturing more than 100 models of wall
clocks, 40 models of time piece, 25 of Telephone, 30 models
of calculators and 3 different varieties of educational toys.
      After the establishment of “ELORA TIMES PVT.
LTD.” Company has grown a long way relatively. It is one of
the most fast improvement industry with having large
number of products.


      Shri   Odhavjibhai    Ravjbhai    Patel   (Chairman)
Popularly known as O. R. Patel was basically a science
teacher in V. C. Technical High School, Morvi. In 1971; a
small unit of manufacturing of mechanical clock was
established by him. Over a period of 30 years he has been
able to make it ORPAT Quartz.
            COMPANY PROFILE

Name                 : ELORA TIMES LTD., AJANTA
Address              : Orpat Industrial Estate,
                      Rajkot Highway
                      Morbi – 363641, Gujarat (INDIA)
                      Ph. 02822 – 231444/45/46.
                      Web Site : www.orpatgroups.com
Year of Establishment     : 1991
Main Product of the       : Wall Clock
Company
Production Capacity       : 45000 wall clocks per day
Chairman                  : Shri Odhavjibhai Ravjibhai Patel
Managing Director         : Shri Pravinbhai Odhavjibhai Patel
Directors                 : Shri Ashokbhai Odhavjibhai Patel
                           Shri Jaysukhbhai Odhavjibhai Patel
Total area Covered        : 15,00,000 sq. ft.
(sq. ft.)
Bankers                   : State bank of Saurashtra
               Organization Chart
Factory Personnel     Administrative Personnel   Marketing Personnel


Production Manager      Personnel Manager        Marketing Manager


    Purchaser             Finance Manager        Local Sales Manager


Material Controller         Accountant              Export Manager


     Quality                  Auditor            Advertising Officer


Maintenance Manager           Security            Dispatch Dep. Head.


                                                 After sale service head


                                                       Research &
                                                  Development Officer
PRODUCTION DEPARTMENT
 Sr. No.    Particulars                Page No.
  1.       Introduction
  2.       Organization Chart
  3.       Planning, Production, Control
  4.       Raw Material
  5.       Production Process
  6.       Plant Location
  7.       Plant Layout
  8.       Inventory Control
  9.       Pollution Control
  10.      Quality Control
  11.      Scrap And Waste Management
  12.      Material Handling
            INTRODUCTION
       Production is the process of converting Raw material
into finished goods so that customer can ultimately use it.
Changing the size, color, odor, contents, etc. of the natural
resources does production is also the conservation of goods,
which may be again used as raw material and hence made the
finished good, which the ultimate customers use it for their
purpose. More the production means more of the good
economy of the country. Therefore the production is very
much important.




       “Production Department” is heart of the business
almost each and every business is engaged in the work of the
production. They depend mainly on the production because
the production helps theses businesses to gain some profit.
Therefore, these businesses always but their best efforts in
the production of the goods which will help them to have his
profits.
        “AJANTA” has very efficient production system,
which has helped them to become the highest manufacturer
of the clocks.
ORGANISATION STRUCTURE
      The organizational structure plays an important role in
the production process. It affects the whole company if there
is any defect so the organizational structure effects the
production process. It increase or decrease the profit of the
company. So it should be very accurate.


      At “AJANTA” there is one supervisor looking after
10 workers. The following is the organizational chart of the
company.


                     Managing Director


                          H.O.D.


                         Supervisor


                           Labor
    Planning, Production,
          Control
       Production planning is not governed by market
demand. It is governed by research and development. Market
follows ORPAT‟s R & D.
            RAW MATERIAL

       The quality of the product depends upon raw material.
AJANTA uses quartz crystal +/- 8 ppm. While their
competitors are using +/- 20 ppm or 30 ppm. Therefore the
accuracy of timing in AJANTA QUARTZ movement is
much better than others. The raw material is the basic
component and that, too very essential are in the whole
production process of any manufacturing business.


       For the production of any product first of all raw
material is required on which some process are done and are
converted into finished products.


       The company purchases raw material from Pune,
Delhi, Banglore and from other places in abroad. It gets
white and black base and PVC plastic, power form Seoul and
south, Korea.
   PRODUCTION PROCESS

      It is the fact for all the manufacturer that the sources
of a product highly depends on production department. An
accurate and economic process is essential for every
companies.


      In ELLORA TIMES LTD. There are three main
department which is concerned with production. i.e.
           1. Molding Department
           2. Glass cutting Department
           3. Colour processing Department
           4. Assembly Department

PROCESS
1. Molding Department
      First of all movement base and PVC plastic powder
enter into machine automatically in specific ratio. It is
pressed in specific ratio and after one minute ready made
hard mold come out. After molding, unnecessary plastic are
removed.
   2. Glass cutting Department:
            The glasses are brought from hariyana in bulk
   quantity. First of all the glasses are cleaned with chemical
   water and them it is cut into required sizes. The glasses are
   shaped according to the size and shape of the model. Then
   the pieces are transformed to the assembly department.

   3. Colour pressing department.
Here moalds and other parts are coloured by colour pressing machine.

   4. Assembling Department
            Assembling department is done on a long table on
   which the assembling is done. The process is as under:
                a. Machine Fitting
                b. Batteries Fitting
                c. Clock Hand Fitting
                d. Glass Fitting
                e. Auto Parts Fitting

   5. Checking Department
            Here, checking of each and every piece is to be done
   by trained , skilled workers. All the part of products are fully
   inspected as per quality parameter. If any part is of inferior
   quality then it is send back to the department.
6. Packing Department
       After the process of checking the final product then
goes for packing, in packing department. Packing is done
according to the quality and price of the product. Products are
packed into different size boxes and product became ready
for sale.
           PLANT LOCATION
       Location of an industry is an important operational
management decision. It is a three step decision; first choice
is of the national religion, second the choice of the religion
with in the nation and the last step of the decision is the
choice of site within the region either rural area or urban area
or urban industrial area. Location decision should be based
on   the   company‟s     technological,   marketing    resource
availability and financial strategies.


       The objective of the plant location decision making is
to minimize the sum of costs affecting the factors called
“Location” These costs are the transportation, raw material
availability, market area etc.
PLANT LOCATION


                 MORVI CITY

                                               L
   AJANTA                                      O

                    RAJKOT - MORVI
   QUARTZ                                      C

                                     HIGHWAY
   SAMAY                                       A
   QUARTZ                                      T
                                               I
                                               O
  TANKARA
                                               N



                 RAJKOT CITY
              PLANT LAYOUT
       Layout of an industry is the most important task for
obtaining the least total cost of materials handling. Since
once the bolding is made and the plant is commissioned, it is
difficult to change. Further the orderly flow minimizing
expenditure on materials handling and productivity, largely
depends on the plant layout. Plant layout means beeping the
correct machine at correct place. It is also decrease the cost
of transportation of the material from the storehouse to the
machine concerned.


       Plant layout is a “Technique of locating different
machines and plant services within the factory so that the
greatest possible output of high quality at the lowest possible
total cost can be available.

       Plant layout can be defined as the physical location or
configuration of department workstation and equipment in
the conservation process in any manufacturing company. It is
a special arrangement of physical resources used to create the
products.
       At “AJANTA QUARTZ” it has its own plant layout,
which can be shown as follows:
PLANT LAYOUT

                  STORE ROOM             LAY OUT CHART
DEPARTMENT
 PACKAGING




                  GLASS CUTTING         COLOR PRESSING
                   DEPARTMENT            DEPARTMENT
DEPARTMENT
 CKECKING




                   MOULDING              ASSEMBLING
                  DEPARTMENT             DEPARTMENT


             PERSONNEL             MARKETING
             DEPARTMENT           DEAPRTMENT



              INSIDERS               INSIDERS
              PARKING                PARKING




                          INSIDERS
                          PARKING
     INVENTORY CONTROL

       Effective management of finished goods inventory is
quite essential for running a business efficiently and
profitably carrying inventories become increasable most
business because the producing activities table place of
different times in different times different location.


       Inventory are made up of several demands like
operational stocks best for meeting the ready demand the
inventory management of „AJANTA” is such that no dealers
of the company remain out of stock of any current model
which is popular in demand. Thus, in “AJANTA”
distribution plays an important role.
     POLLUTION CONTROL
      In today‟s era social marketing is getting more and
more importance which includes pollution control.


      In “AJANTA” the disposal of waste is done by
submitting it in to the municipal lorries and other plastic
waste is rushed for production. There are no other is reused
for production. There are no other harmful effluent and the
surrounding are best clean and hygienic. Along with this
plantation at factory place also provide better atmosphere to
the workers.
            SCRAP & WASTE
             MANAGEMENT
       Every company has output of some amount of scrap
and waste. So the company have to manage the scrap and
waste. Every company has to see that scrap and the waste
products are not affecting the environment or they are not
creating pollution.


       In AJANTA the scrap and waste management is done
properly. The scrap and waste which is coming out from the


output is reused and the other material which cannot be
reused is sent to the municipal lorries. Thus the company
manages the scrap and waste being in view all the necessary
factors.
         QUALITY CONTROL
       The quality of products depends on many factors.
Though the production is good but if there is any other
problem is assembling the quality will no be maintained. The
following are some important point that how “AJANTA”
maintain the quality of goods.

      The raw material used are of high quality. Ajanta
        uses Quartz Crystal +/- 8 ppm.
      Orpat products are being assumed at dust proof
        environment. Therefore the durability of the
        movement is better than others.
      All the gears in Orpat Time Piece movement are
        being made of polyacetal of higher grade. Therefore
        the durability of the movement is better than others.
      The quality checking of the Orpat time piece
        movements are being          made in three stages
        (Movement         manufacturing     stage,   Movement
        assembling Stage, Clock assembling)
      The     cabinets     of   Orpat    products   are   being
        manufactured from virgin polyester of high impact
        grade. Therefore the durability is better than others.
    STORES MANAGEMENT

       Store management is second important component of
physical distribution. In Ajanta company, wall housing has
two distinct past libe physical job of creating and running the
network of storage points and managerial task of controlling
the inventory level. Storage ensures finally delivery of
product to the channel and estimated stock storage also helps
balance demand and supply and stabilize the price.
        MATERIAL HANDLING
        In a manufacturing firm, the raw materials are
obtained from the suppliers and are stored in the warehouse.
They are issued to the production department and are moved
inside the plant area. From one process to another for the
purpose of the processing till they are concerted into finished
goods. Finished goods are sent to the shopping section for the
sale.
        Thus material handling involves the movement of the
material from one place to another for the purpose of the
processing and manufacturing. They are moved either
manually or mechanically with the help of different types of
the materials, handling equipment. If included lifting,
moving, dropping, position of the most important activities of
the production function. About 20% of time of the total time
spend by material inside the plant area is utilized. For the
purpose of actual processing while 80% of the time spent in
moving from one place to another.
        The equipment used in “Ajanta” for the material
handling are :      - Trucks
                    - Tractors
                    - Trolleys
 PERSONNEL DEPARTMENT



Sr. No.     Particulars                     Page No.
    1.    Introduction
    2.    Organizational Chart
    3.    No. of Employees
    4.    Working Hours Ship
    5.    Training
    6.    Wages and Salary Administration
    7.    Promotion and Transfer
    8.    Performance and Appraisal
    9.    Record of Employees
             INTRODUCTION
       The personnel of the company are known as the
people working in the company any, in general language. It is
the working force of the company. With the help of the
personnel, the company can work efficiency. There are
different binds of personnel. For different are very important
for any company.


       The importance of personnel management is being
increasingly in industrial and non industrial organization,
both in India and abroad., in most of the organization. The
problems of the getting the component and reverent persons
for relevant work, retaining them, beeping up their
motivation and moral helping them to continue growth of
their down and contribute their best of the skill to the
organization are viewed as the most critical problem. Their
expectation are of may be different from those of the
company. They are very different from what are personnel
had before. They have different values and norms and they
are certainly more competent and more informed than
employees in the past.
 ORGANIZATION STRUCTURE
             In order too solve the personnel problem efficiently
   and in a responsible manner, there is whole department for
   solving these problems. The company hay been always trying
   hard to been away the complicated situation that it dose not
   reach till the workers. It has become Nasser to have a
   separate personal department in each and every organization,
   which shell be responsible for performing all the function
   efficiently and without any trouble to the workers. It helps
   the workers to work in a better way. Therefore for this, the
   company must establish sound and effective personnel
   policies. The following is the structure of the personnel
   department of the „AJANTA”.
                             Department Head
                             (Mr. Pravin patel)


 Personnel       Finance         Production         Marketing    Administrative
Department      Department       Department         Department    Department
 Manager         Manager          Manager            Manager       Manager



                                 Supervisor
                        (1 supervisor for 10 workers)


                                  Workers
  NUMBER OF EMPLOYEES
      The more number of employees the more is the
management. In Ajanta Company it currently provides
employment to around 6000 employees out of which 90% are
female employees. The company thinks more suitable for
keeping female workers. So there are only 10 % of male
workers working as officers and rest of them are female
workers.
     WORKING HOURS AND
          SHIFTS
       Ajanta Quartz is a clock manufacturing company.
They are very alert in time keeping system. Time keeping is a
system by which one takes attendance or workers records of
their coming and going as well as records of their hours of
working the organization keep records.


       The working hour‟s area as follows.

          I. 7.30 am to 12.00pm
         II. 12.00 pm to 12.30 p.m. Lunch time
        III. 12.30 pm to 4.30 pm



       On Wednesday there is a holiday for the employee.
There are three shifts during the day.
                    TRAINING
       According to Fillipo “Training is the act of increasing
knowledge and skills of an employee for doing participation
job.” Training helps for efficiency and morals of the
employee for better human relations with other employees of
the company. Training helps to acquire higher skills to do the
job. This helps the supervisor to kessen his supervision over
the employees and hence, as a result he can train other
employees.
       Thus to increase efficiency in productivity the training
is very much essential. Training helps the workers to become
more perfect over his production capacity.
       There are training requirement in two situation,
generally in any organization :
1. Training of new comers.
2. Training for change

1. Training of New comers.
       10 days training is given to each new employee by the
supervisors and officers. It is not necessary that each and
every worker is familiar with the machine and knows how to
operate machine. So in order to have no confusion in the
working, training and development is essential.
      WAGES AND SALARY
       ADMINISTRATION
       The main aim of any employee that has been recruited
in any company or for any job is to get some money in return
for his service. A person renders his services in order to get
some monitory rewards.


       Workers are rewarded in form of wages for their
services. Some employees are given extra wages above their
normal wages, which is known as the perquisites.


       The firm believes in two basic true of wage payment.

1. Time wage:
       Under this system the wages are paid according to the
services provided on the basis of the time spent on the job or
to complete the work. There are different wage rate
according to time in different companies. There are different
methods for this type of wage payment. There fore no similar
kind of wage rate per time is same in all the companies.
2. Piece Wage :

       Under this system the wages are paid on the basis of
the quantity produced by the worker. There is only one
difference between time wage and piece wage. In time wage,
wages are paid according to time consumed in order to finish
one job and in piece wage; wages are paid according to the
quantities produced by the worker.


       Ajanta companies prefer time wage system. It
provides daily wages to the workers and monthly wages for
official workers. The workers are given daily wages
according to their life conditions.


       It believes in paying Rs. 54 per day according to the
minimum wages act. Maximum wages rise up to Rs. 150 per
day. They give salaries and wages on the 1st of each month.
PROMOTION AND TRANSFER
       Promotion and transfer are very important field for the
personnel department. How to select the employee what the
work is to be given. What wages or salary is to be given are
very important points to kept in mind by the firm.


       In Ajanta the executives and other higher authorities
are selected on the strength of their skills, qualification,
experience of their talents, education qualities etc. So the
following is the process by which the company follows for
the promotion and transfer of the conditions:


1. The application are received and the department head does
  the screening that is the checks them as per the required
  norms.
2. Here then the workers get some work for a day and their
  work for a day and their work is analyzed. For example,
  cooking, sewing, decorating, cleaning etc. And according
  they are selected.
3. The workers are then given lectures and training for 15
  days as what kind of work is to be performed and how to
  carry it on or perform.
  At last selected employees are divided into some
  department according to this capacity, skills and
  education.


    Those girls educated up to 12th or above are selected for
administration and office work.


  Thus after the placement selection, they are obtained
around the firm and hence they are made familiar to the
company.
       PERFORMANCE AND
           APPRICIAL
    The employee work hard in the company in order to get
higher wages. There fore, in order to know how they work
there are different programmes carried out. These programme
are known as performance appraisal programmers. These
programmes help the company and workers to know how
they work.     Do they needed any change in the working
technique or not are known through any change in the
working technique or not are known through the performance
and appraisal programmes.


    Ajanta companies always carried out different appraisal
programmes so as to make any change in the employment or
it system of employment, if required.


    Here at Ajanta, the performance appraisal is done on
monthly basis by the supervisor. The supervisors keep a
watch on his ten workers and they prepare a note on every
worker under his supervision. He gives grades without any
bails and then these grades without any emulated at the end
of the year.
  RECORD OF EMPLOYEES
    There is very important to maintain the personnel records
of the workers in order to accumulate them at the end of the
working year so as to know the final grade of the workers
and hence to give the workers an increment in the wages or
promote or to train him/her.
    The basic information about personnel, which is included
in the personnel record, is according to,
     1. Name
     2. Father‟s name
     3. Family, if any
     4. Age
     5. Education / Qualification
     6. date of appointment

    Operating information maintained in the records is :
      Department name
      Wages, given in the beginning of job
      Training and development
      Incensement in wages transfer promoters
      Leave records
      Regularity and Sincerity
      Performance appraisal record
      Behavior, belongingness, will
      Remarks

    In this way, the records of each and every workers
working for the organization and maintained. So in order to
give information about the worker to other companies these
records are also helpful. The record of the workers, which
has left the company records.


    Therefore, Ajanta always keep the upto-date records of
all its employee, which is either prepared by the supervisors
or the department head.
MARKATING DEPARTMENT

Sr. No.    Particulars                         Page No.


  1.      Introduction
  2.      Organization Control
  3.      Segmentation
  4.      Market Research
  5.      Product And Product Related Strategies
  6.      Pricing Policy
  7.      Promotion Mix / Advertisement
  8.      Channels Of Distribution
  9.      Export
  10. Competitors
              INTRODUCTION
    Marketing is a social and man original process by which
individual and groups obtain what they need and want
through creating, offering and exchanging products or value
with others marketing management means to manage to
made the consumers to buy the product.


    Marketing consist of all the potential customer sharing a
particular need or who might be willing in exchanging the
goods or the services to satisfy their needs or wants.


    Thus marketing helps the product to reach to the
consumer from the producing and also to let the buyer know
about the product in the market. For this there is one phrase
“Caveat Emptier” which is known as let the buyer know
about the product in the market. For this there are basically
four ps that is pricing product place and producers. It is a
concept that today consumers are the kings of the market. So
the marketing consist of all the activities starting from
finding of consumer needs and according the production is to
be carried out and to provide that product to the consumer
relation to their needs.
ORGANISATION STRUCTURE
   Mr. Ashokbhai Patel is the, marketing manager of Ajanta
Company the following is he organizational chart, which as
shown the marketing hierarchy at Ajanta company


   The above chart shows that because strong marketing
Ajanta has become a well known company all over all the
world.
                 MARKETING MANAGER
                    (Mr. Ashokbhai Patel)


                             Sales
                           Executives



 Mr. Ravi      Mr. Murli         Mr. Ananad       Mr. Samant




                       Area Manager


                           Sales Men


                           Consumers
             SEGMENTATION
    Marketing segmentation is very essential for the
marketing executives of an organization. To define its market
and its market dimensions as it is impossible for the company
to serve the whole market. Because consumers differ widely
in terms of performance buying habits etc. it is due to this
fact that we whole market has to be subdivided in various
dimensions. This process of subdividing a market is referred
to as market segmentation.


    Ajanta has adopted geographical variable for the market
segmentation it means the market of the company divided
according to nation, state, city , village etc.


    Ajanta has segmented the market according to urban and
rural areas. The main segment in rural population. This main
market consist of village of India.
          Market research
   Marketing research is a systematic design, collection
analysis and reporting of data and finding relevant to a
specific marketing situation facing the company. The
company has three main method of marketing research:

     1. Observation Method
     2. Experimental Method
     3. Survey Method

   Ajanta Company prefers survey method. Generally they
do not need to go for research but when needs arises they
prefer direct consumers. The advantages of survey method
are that it is flexible, quick and low cost. But main
disadvantage it is time consuming. The process is not only
limited to production, but to all the fields in the firm.
Therefore Ajanta known what the consumers want more from
the company‟s product.
  PRODUCT AND PRODUCT
   RELATED STRATAGIES
    Ajanta has different product lines. Each product line has
depth, which involves different shapes, sizes and colors.
Ajanta Quartz has major four different types of products. The
products are:

     1. Wall Clocks
     2. Time Pieces
     3. Telephones
     4. Calculators

    Ajanta is mainly famous for the wall clocks in the Quartz
Technology. Other products are marketed in the name of
Orpat. Most companies sell more than one product. A
product mix can be classified according to width, length,
depth and consistency. These four dimensions are the tools
for developing the companies marketing strategy and
deciding which product lines to grow, maintain, harvest and
divest. Ajanta is a clock manufacturing company and so it
generally emphasis its attention on clock.
    Product width means a set or a total of all products
included in each line of products. The width of wall clocks
are as under.

      Winding Clocks
      Transistor Clocks Quartz
      Economic Clocks
      Medium Size Clocks
      Big Size Clocks
      Office Clocks
      Wooden Clocks
      Musical Clocks
      Pendulum Clocks


    All these varieties are available in zoo models, which
attract the Indian consumer as well as foreign consumers.
These clocks are also facilitated with different colours like
black, white, red, blue, green and maroon.
            PRICING POLICY
    The decision for the price of the product is done through
price research. There may be same kind of products available
in the market. Therefore a research program is set to decide
the correct price for the product. Right price can be
determined through price research in the market by adopting
the test marketing technology through a perfect pricing
policy taken by an report.


    At Ajanta only the market director can decides the price
of the clocks as only he has that authority. He meets the
production manager, then he meets various marketing
authority and after he decides the final price, in general
language known as maximum retail price, is determined and
decided.


    They also believe in pricing the product economically so
that even common public can afford to buy Ajanta clock.
Ajanta not keeps high price keeping only the higher segment
of the society as its target. It penetrates keeping in view each
and every segment of the society.
    The following are the various components of price of
Ajanta wall clock are
      1. 5% Advertisement express
      2. 5% Administrative expenses
      3. 30% sales tax, Octroi
      4. 50 to 52% cost of product, raw materials
      5. 8 to 10 % profit margin

    Ajanta keeps a nominal price for its wall clocks. The
profit margin is also less. It is only % of the total price.
CHANNELS OF DISTRIBUTION
    In the field of marketing channels of distribution indicate
router or pathways through which goods and services flows
or move from producers to consumers. Distribution channels
plays an important role in the success of full marketing of
most of products specially consumer.
           Distribution channels are the most complex &
challenging decision faced by the firm to provide the right
quality & quality of products to the consumers. Therefore, all
the companies always try to implement proper distribution
channel that would help the product to reach the consumers
without loosing any time and cost.


    AJANTA has number of dealers as stated on the previous
page. AJANTA has some terms and conditions for every
dealers, like they must keep a stock of maximum 200 piece
and minimum 5 piece of each model. So that consumer can
get a range from which they can have a choice and the main
branch controls all the activities.


    AJANTA distribution networks cover about 20,000 retail
outlets:
  Dealers in India      : 10,000
  Sales Department      : Calcutta, Delhi, Mumbai, Hyderabad
  Service Controls      : 64 Centers
  Transportation        : 45 Trucks
  Export                : 20 %
  Overseas market Centers     : 50 Centers
  Own sale office       : Dubai

    As AJANTA has the dealers all over the world the
distribution network of the company is very powerful.



   COMPANY                DISTRIBUTORS

 CUSTOMERS                   DEALERS
                     EXPORT
    In export market too the critical factor in Nations‟
economy – AJANTA has been leading in performance. Out
of total quality manufactured every year nearly 15% being
exported to the markets of middle east, Africa Europe and
Asia. Among its biggest export pieces is the Azaan Alarm
clock that is programmed to ring out the nammaz prayer an
enormously successful product in the Muslim countries.


    AJANTA Quartz clock enjoys prominent place in market
of the following countries Saudi Arabia, Dubai, Iraq, Egypt,
Turkey, South Africa, Uganda, Kenya, Ethiopia, Sudan,
Nigeria, Norco, Ghana, Benin, Ivory Cost, Spain, Salvia,
Holland, Poland, Russia, Hungary, Romania, Australia,
Singapore,   Sri   Lanka,   Bangladesh,   Nepal,   Thailand,
Vietnam, Burma.


    At present AJANTA is exporting more than 45 Countries
in the world market. Thus AJANTA has world wide market.
               COMPETITOR
    Through proper records of the company, it is very easy to
know how much the company is selling its product through
market research. It is known that AJANTA has 60% market
share of whole market for the Quartz clock. Market share is
the proportion of market captured by the firm. Market share
helps the company to know that how it has penetrated in the
market.
          NAME                    PROPORTION
                                        (IN %)
          SAMAY                         10%
          AJANTA                        60%
          OTHERS                        30%


                            10%
                   30%
                                            Samay
                                            Ajanta
                                            Others
                                  60%




    This is the ratio in which the Ajanta and its competition
share to the market Samay, Ajanta‟s competitor has 10 %
share and other company has 30% share of the total market.
In pie-graph shares can be describes as follows.
      Finance Department


Sr. No.         Particulars                Page no.
          1.    Introduction
          2.    Organization Structure
          3.    Financial Planning
          4.    Capitalization
          5.    Capital Structure
          6.    Fixed Capital Management
          7.    W/C Management
          8.    Receivable Management
          9.    Cash Management
          10.   Profit & Profitability
             INTRODUCTION
    Finance is the first factors that a company or any
business should considered while farming a company. With
the help of adequate. Finance only, the business can run
properly without any hinder ness of credit and one times
although having enough finance. The company had to borrow
money from financial institution for higher level of
operations. Therefore the profit purpose the company must be
operated appropriate and efficiency and for this finance is
very much needful.


    Finance is the heart of the company or the business.
Finance to a company or the business. Finance to a company
is lobe the blood to a human body, finance required a greater
focus as it helps in the successive functionally of a business.
Each and every organization requires a constant flow of cash.
Whether it may be TATA, BIRLA or AMBANI group of any
small business, finance is required by every organization.
Finance id a medium through which one can get all the
factors of production, that is raw material, personnel, land,
building, machinery, technologies, etc.
          ORGANIZATIONAL
            STRUCTURE
    Finance is a part and parcel of business activities, but
finance is scare resources. So management of finance
becomes necessary. A part from this financial decision have
got vital importance in any firm so it also proves it essential
to set up management system. For sound management
efficient organization is precondition where all the financial
are performed in scientific and systematic way.


                        DIRECTOR


                  CHIEF ACCOUNTANT


                      ACCOUNTANT


             OTHER OFFICER AND STAFF
     FINANCIAL PLANNING
    Financial planning is a prerequisite for the smooth
functioning of finance department and for the purpose growth
and expansion of business activities. The financial plan
represents a blue print of what a firm purposes to do in the
future. There are two types of financial planning:

      1. Long term financial planning
      2. Short term financial planning

    The term long financial planning are formulated for the
expansion of business for starting now unit for developing
new products for modernization of the unit and for the
purpose of study of fixed assets.


    The short term financial planning is formulated for the
smooth functioning of the day to day business operations. For
the payment of miscellaneous expenses lobe stationary cost,
electricity bills etc. for the payment of regular salary, wage
etc. expenses or losses, also for meeting unexpected expenses
or losses.
             CAPITALIZATION
    Capitalization refers to the total amount of capital
required in the long term to carry on the business smoothly.
At the time of corporation of the business, capitalization is
the main problem of any firm. It refers to the amount at
which the business is valued. For each and every company
capitalization is very much with which the company gets in
corporate. It also means investing the amount in the
company‟s capital and hence increasing it.


    AJANTA company has its initial capital or Rs. 1.57
Lacks, which was the owner‟s capital. While at present, the
capital is Rs. 150 Crores and which id the profit reinvested
that is the owners capital. As AJANTA is a private company,
it does not give more information about it‟s financial
statement to the public. Therefore the given information is
the only information that they gave while on the visit to the
industry.
      CAPITAL STRUCTURE
    Capital structure helps among to know about the capital
arrangement of the company.


    AJANTA first determines the need of the assets required
by the company for its operation by a meeting of partners and
its technical engineers. They all decide what, when and
arrangement to get fixed assets from India as well as from
foreign countries. The assets of the company of previous lost
three years are as follow.

        1995 – 96 - 06.95 Crores
        1996 – 97 - 15.70 Crores
        1997 – 98 - 06.73 Crores


              And for previous three years:


        1998 – 99 - 05.75 Crores
        1999 – 00 - 07.30 Crores
        2000 – 01 - 08.50 Crores
    In the beginning, invested has increased to Rs. 1,57,00
while now capital they had neither taken any loans nor any
other sources other than profits.


    Thus the capital structure is very simple to know and
understand. As no source of finance, other than sloughing
back of profit, is utilized by AJANTA, whatever profit, if
earns is re-invested back into the firm for the next year‟s
operation.
        WORKING CAPITAL
           MANAGEMEMNT
    Working capital is very important ant for business. It is
the laboratory factor which make the vehicles of business
run. And adequate level of working capital provides a
business with operation flexibility. So the level of working
capital should be adequate. A part from this it is supporting
tool it doesn‟t provide any direct return so to determine the
exact need of working capital for financing it and to manage
the each component of working capital management is
precondition.


    Here in case of AJANTA working capital need in
determined by the partners capital need in determined by the
partners. But it is not technically determined how much
inventory, cash and receivable are need. The firm maintain
all the records of inventories, cash and receivable
systematically. So that partners can get clear idea about
working capital requirement.
RECEIVABLE MANAGEMENT
    Credit sale has become common today because of
increasing competition it serves as a tool for increasing sales
of the company. But for the financial point of view, it is
blocking of money for a certain time period. There is a risk
associated with it is of bad debts, delay in payment etc.
inspect of this, to stay in competitive market we have to give
credit to the customers.


    AJANTA sells its product to authorized dealers and also
provides them facility of credit in some circumstances which
makes entry of receivable in the firm. Incase of AJANTA
the common gets timely payment from dealers, it is also
provides some discount for only payment. Computerized
records are maintained for debtors over here.
       CASH MANAGEMENT
    Cash management deals with managing the cash flows of
the organization most of the business organization determine
the level of cash which is to be kept in the business.


    But so far AJANTA is concerned it doesn‟t determine
the level of cash. But here, all the records are maintained
about cash i.e. cash flows as well as cash out.
PROFIT AND PROFITABILITY
    The main objective during the ancient business was to
earn profit. Only the profit was the main motive. The
traditional approach was made keeping the profit a main
objective of the ancient business. But in the modern business
approach has changed into a new theory of modern approach.
The modern approach says that there are some business,
which has the profit motive as its secondary objective. But
there are still many business having profit as its main motive.
Moreover, profit is the result of the whole business activity.
Profit is the driving force of each and every organization.
Profit means to earn more than investment. Profit is the
yardstick by which the success of any organization can be
measured.


    As AJANTA is world largest clock manufacturer, it
produces 45,000 pieces per day. AJANTA is very famous in
Indian market and also in the global market. It has largest
profits.
    The profits of previous eight year are as under.

          1993 – 94 Rs. 05.10 Crores
          1994 – 95 Rs. 06.28 Crores
          1995 – 96 Rs. 04.15 Crores
          1996 – 97 Rs. 05.25 Crores
          1997 – 98 Rs. 06.02 Crores
          1998 – 99 Rs. 06.79 Crores
          1999 – 00 Rs. 07.56 Crores
          2000 – 01 Rs. 08.33 Crores

                                    Year
                                                                   Year

      9                                                            8.33
      8                                                    7.56
                                                   6.79
      7            6.28                    6.02
      6    5.1                     5.25
      5                    4.15
      4
      3
      2
      1
      0
           1993-   1994-   1995-   1996-   1997-   1998-   1999-   2000-
            94      95      96      97      98      99      00      01




                      PROFIT IN CRORES

    As the firm is a private limited and a partnership firm, it
does not discover their trade secrets and the financial
statement. Therefore, only profit figures are given but not the
balance sheet.
SWOT ANALYSIS
Strength :
        The company‟s main strength is that ISO 9002 certifies
         it.
        The company is very much financially sound.
        Machineries with latest technologies and of high
         acceptability.
        Management workers relationship is very good.
        Professionals handle all the operations
        Company of the product have competitiveness
         characteristics.



Weakness :
        The main weak point of the company‟s that it advertises
         its product very less through media.
        The transport facility is very improper, that is the
         transport facilities for products to reach market and raw
         materials coming in the company.
Opportunity:
       Company has opportunity to manufacture wristwatch
       Companies wants to become highest employment
           opportunity provider.
       Company has the opportunity to become the largest
           manufacturer of the household electronic products.



Threats:
       If the economic progress decreases, the profit margin
           also decrease.
       Recession in the economy may result in affecting
           indirectly to the buyer‟s possibility of less ordering.
             FUTURE PLANS
    Every one wants something more in the future with
regards and business in compression to the present. All the
organization has planned for better future.
    “AJANTA” future plans are as follows:
      They want to start industry of electronic toys.
      They also want to develop wristwatch plant with large
        funds and more technology.
      They want to be one of the largest industry in house
        production process.
      They also want to become the highest employment
        provider in Gujarat by providing equal employment
        opportunity for the enlistment of the needy people.
      They want to remain pioneers in Quartz. Technology
        and manufacturing of Calculator.
      They want to harness the latest technologies for
        simplification of process and rapid expansion.
               SUGGESTTIONS
There is no firm that is only perfect without any defects.
There are in some way or the other having defects. Yet taking
into consideration today‟s modern world, few suggestion
according to me are suggested as underwritten:


      It should appointment exports like BBA or MBA or
        specialist for a better and scientific management in the
        company.
      It should grow its industry very fast because it is not
        necessary that the market will accept all its products.
      They should also go for sales promotion to consumers
        so as to increase their sales and also to give knowledge
        about the products. It produces to the unknown
        consumers.
      There is no trade union in the fir, so there should be a
        trade union to protect the workers from exploitation, if
        any.
                CONCLUSION
AJANTA       considers its each and every worker as one
without and bias and I am highly impressed by observing
this. It is one big family. There was very good cooperation.
Co-ordination and communication among the workers and
the management.


It is one of any memorable experience of getting a practical
training at AJANTA company. I get a very good response
from especially Mr. Rajiv Ranjan and Mr. Jignesh Patel.
After visiting the unit, I feel glad to have been a part of the
unit for some time and get what actually industrial visit is.
I wish and pray that the unit may earn the best position in the
industry forever and may it enjoy “Booming Times always”
and may it develops in all the fields it wants to.
             BIBLIOGRAPHY
I got all the information‟s about the company through visiting
the plant. The books that helped me in making this project
are:


Marketing Management           - Philip Kotler
Finance Management             - Khan & Jain
Personnel Management           - C. B. Namoria

				
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