ORGANAZATIONAL STUDY AT V –GUARD INDUSTRIES Pvt Ltd An Internship Report on AN ORGANIZATIONAL STUDY CARRIED OUT AT V- GUARD INDUSTRIES PVT.LTD Internship Report submitted in partial fulfillment of the requirement for the award of the Degree of MASTER OF BUSINESS ADMINISTRATION of BANGALORE UNIVERSITY By Mr. AJITH AYYAPPAN S Reg.No.11YYCMA001 Under the guidance of Mr. Shahid Akbar Shah Asst. Professor PADMASHREE INSTITUTE OF MANAGEMENT STUDIES Padmashree Institute Of Management Studies Page 1
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ORGANAZATIONAL STUDY AT V –GUARD INDUSTRIES Pvt Ltd
An Internship Report on
AN ORGANIZATIONAL STUDY
CARRIED OUT AT
V- GUARD INDUSTRIES PVT.LTD
Internship Report submitted in partial fulfillment of the requirement
for the award of the Degree of
MASTER OF BUSINESS ADMINISTRATION
of
BANGALORE UNIVERSITY
By
Mr. AJITH AYYAPPAN S
Reg.No.11YYCMA001
Under the guidance of
Mr. Shahid Akbar Shah
Asst. Professor
PADMASHREE INSTITUTE OF MANAGEMENT STUDIES
#149, Padmashree Campus, Komaghatta,
Kengeri, Bangalore – 5600
Batch 2011-2013
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STUDENT’S DECLARATION
I, hereby declare that this project report entitled “ Organisational Study
on V-Guard Industries Limited’’ has been prepared by me during the
academic year 2011-2013 under the guidance of Mr. Shahid Akbar Shah,
Department of Management Studies, Padmashree Institute of
Management Studies , Bangalore.
I also declare that this project has been conducted in partial fulfilment of
the requirement for the award of the degree of M.B.A under Bangalore
University. This is my original work and not submitted for the award of
any other degree, diploma, fellowship or any other similar title.
Place: Bangalore AJITH AYYAPPAN S
Date: Reg No: 11YYCMA001
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ACKNOWLEDGEMENT
With a grateful heart, I would like to thank God almighty for his invisible guidance
and blessing without which the successful completion of this study would have been
only a dream…
I express my sincere thanks to Human resource Manager Mr. John Mathew Sebastian
and staff of The V- Guard Industries Limited for having granted me the permission to
do the organisation study and also for the help and support extended to me as
organizational guide.
It’s my duty to express deep sense of thanks and gratitude to our Director
Dr.K.Y.Reddy, and other faculty members of MBA department, Padmashree Institute
of Management Studies, Bangalore for permitting me to undergo this internship
training at The V- Guard Industries Limited ,Kochi.
My sincere thanks to my guide Mr Shahid Akbar Shah, Assistant Professor, MBA for
his knowledgeable guidance to my organization study .He has been a constant source
of inspiration for my organization study.
I affectionately express my gratitude to my parents and friends who have helped me in
completing this organization study report successfully.
AJITH AYYAPPAN S
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TABLE OF CONTENTS
CHAPTER
NO.
PARTICULARS PAGE
NO.
List of Figures 5
1 INTRODUCTION 7-14
2
2.1 INDUSTRIAL PROFILE
2.2 COMPANY PROFILE
2.3 PRODUCT PROFILE
16-22
23-33
34-39
3
3.1 ORGANISATIONAL STRUCTURE
3.2 7’S FRAMEWORK
3.3 DEPARTMENTAL ANALYSIS
41-4242-4647-80
44.1 SWOT ANALYSIS
4.2 VISION & MISSION
82-83
85
5
5.1 FINDINGS
5.2 CONCLUSIONS
5.3 SUGGESTIONS
86
87
88
BIBLIOGRAPHY 89
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LIST OF FIGURES AND DIAGRAMS
Table No. Description Page No.
1 Product profile 33-39
2 Organizational chart 42-42
3 Mc Kinsey’s 7’s frame work 43-43
4 Customer service department Structure 50-50
5 Electronic& New product department structure 53-53
6 Electro mechanical department structure 55-55
7 Finance Department structure 57-57
8 Human resource management structure 62-62
9 Marketing management structure 72-72
10 Presence of v- Guard In India 76-76
11 Mechanical & Electrical department 77-77
12 Systems department 79-79
13 Supply chain management department 80-80
14 Rotary- BinaniZinc CSR Award 81-81
15 Shanti Mandiram 82-82
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CHAPTER 1
Introduction
ORGANAZATIONAL STUDY AT V –GUARD INDUSTRIES Pvt Ltd
1.1 INTRODUCTION
Organization is a social unit which is deliberately constructed and reconstructed to
seek specific goals .An organization comes into existence when there are a number of
persons in communication and relationship to each other and are willing to contribute
towards a common endeavour. The evolution of organization dates back to the early
stages of human civilization when two or more persons began to cooperate and
combine together for fulfilling their basic needs of food, clothing ,shelter and
protection of life .Thus an organization is born when people combine their efforts for
some common purpose. It is a universal truth that an individual is unable to fulfil his
needs and desire alone because he lacks strength, ability and resources. So he seeks
the cooperation of other people who share goals with them.
This organization study is carried out at V-Guard Industries Limited, kochin. The
organization study has been carried out to get an understanding of the structure and
functioning of the organisation.
In this organizational study at V- GUARD INDUSTRIES LIMITED, KOCHIN is an
attempt made to study and understand about the basic elements of an organization
including the functional and the management aspects. V-Guard Industries Ltd- one of
India's top electrical & electronics majors has crossed a gross turnover of Rs.1000
crores for the financial year 2011-12. The company bagged the prestigious 29th
Annual Young Managers contest, 2011, organized by Kerala Management
Association (KMA) on 18th Feb 2011... The study helped me to understand about
growth of electronic and electrical Industry for past five decades in India, business
development and expansion.
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1.2 OBJECTIVES OF THE STUDY
To get an insight over the functioning of the company and to familiarize with its
various functions
To understand the organization structure and processes in a practical setting
To get an idea about how different functional departments are structured and
how each one of them operate.
To know how the key business processes are being carried out in a
manufacturing firm.
To have first hand information about the various policies and programmes of
the firm.
To analyse real life business problems and apply the concepts and theory learnt
in the class room.
1.3 KEY INDUSTRY REGULATIONS AND POLICIES
The relevant provisions of some of the regulations and policies applicable to us are
given below:
The Factories Act, 1948
The Factories Act has been enacted to consolidate and amend the law regulating
labour in factories. The Act aims at protecting human beings from being subjected to
unduly hours of bodily strain or manual labour. The Act provides that employees
should work in healthy and sanitary condition so far as the manufacturing process will
allow and that precautions should be taken for their safety and the preventions of
accidents.
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The Contract (Regulation and Abolition) Act, 1970
The Act applies to every establishment in which 20 or more workmen are employed
or were employed on any day of the preceding 12 months as contract labour and to
every contractor who employs or who employed on any day of the preceding 12
months 20 or more workmen.
The Environment (Protection) Act, 1986
The Act provides for protection and improvement of environment and for matters
connected therewith. The Act aims at prevention of hazards to human beings, other
living creatures, plants and property. Under the Act the Central Government shall
have the power to take all measures as it deems necessary or expedient for the
purpose of protecting and improving the quality of the environment and preventing
and controlling environmental pollution.
The Central Excise Act, 1944
The Central Excise Act consolidates and amends the law relating to Central Duties of
Excise on goods manufactured or produced in India. Excisable goods under the Act
means goods specified in the Schedule to the Central Excise Tariff Act, 1985 as being
subject to duty of excise .Under the Act a duty of excise is levied on all excisable
goods, which are produced or manufactured in India as, and at the rates, set forth in
the First Schedule to the Central Excise Tariff Act, 1985.
The Employees Provident Fund Act, 1952
The Act provides for the institution of Provident Funds, Pension Fund and Deposit-
Linked insurance fund for employees in Factories and other Establishments. The Act
applies to (a) every establishment which is a factory engaged in any industry specified
in Schedule of the Act and in which 20 or more persons are employed and (b) any
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other establishment which the Central Government by Notification specify giving not
less than two months‘ notice of its intention to do so in the Official Gazette. Effective
from 01.06.2001, every employee drawing wages and Dearness Allowance up to Rs.
6500/-per month will become eligible for membership from the very first day of his
joining the establishment covered under the Act.
The Employees State Insurance Act, 1948
The object of the Employees State Insurance Act 1948 is to provide for certain
benefits to employees in case of sickness, maternity and employment injury and to
make provisions for certain other matters in relation there to… The woman employees
also need no longer fear that they would be dismissed or removed from service in case
they expect babies. Such female employees not only retain their jobs but they get
maternity benefits for a period of twelve week before and after confinement... Failure
to fulfil those obligations exposes an employer to prosecution.
The Payment of Gratuity Act, 1972
The payment of gratuity Act, 1972 was enacted to introduce a scheme for payment of
gratuity for certain employees employed in Industrial and commercial establishment
as a measure of social security. The Act has made provisions relating to lay off and
retrenchment to establishments to which the Act applies. Special provisions have also
been made in respect of lay-off, retrenchment and closure in certain establishment.
Workmen’s Compensation Act, 1923
The act was enacted to provide for the payment of compensation by certain classes of
employers to their workmen. The act contains provisions for payment of
compensation for personal injury caused by accident or any disease or various kinds
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of disablement (partial or whole or temporary or permanent etc.), all arising out of or
in course of employment
1.4 SCOPE OF THE STUDY
The internship training was intended to provide industrial exposure and bridge the gap
between theory and practice. The study mainly covered the few departments of V-
Guard Industries Limited namely Customer service department, Human Resource
department, finance department, marketing department, production department
e.tc... And was intended only for a period of one month from 1 st Aug 2012 to 31st Aug
2012. The study was mainly conducted to understand the functions, processes and
procedures of different departments of the company.
1.5 LIMITATIONS OF THE STUDY
The study had its own limitations too .Following is some of the limitations of the
study
Time constraint prevented the complete collection of data
The inability to obtain the confidential data’s.
The study was conducted in a single organisation; hence comparison with similar
organisation was not possible.
The study was carried out partly relying on the journals and publications.
All the employees were in a busy schedule, hence there was an inconvenience in
collecting enough suggestions and opinions.
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1.6 RESEARCH METHODOLOGY
The methodology includes collection and observation of primary and secondary data.
Both primary and secondary data were used for the completion of the organizational
study. Primary data has been collected through personal interview with department
heads, employees e.tc and secondary data was collected from the organizational
manual and different departmental manuals, brochures, records and websites.
Research Method
Research in common refers to search of knowledge. It is a systematic search for
information on a specific topic. Research method is understood as all those
methods/techniques that are use for conducting a research. It refers to the behaviour
and instruments used in selecting and constructing research technique.
Research Process
Research process consists of a series of actions or steps necessary to effectively carry
out research. Steps in Research Process are:-
1. Formulating the Research Problem
2. Extensive Literature Review
3. Developing the objectives
4. Preparing the Research Design including Sample Design
5. Collecting the Data
6. Analysis of Data
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7. Generalization and Interpretation
8. Preparation of the Report or Presentation of Results-Formal writes ups of
Conclusions reached.
Research problem
A research problem is the situation that causes the researcher to feel apprehensive,
confused and ill at ease. It is the demarcation of a problem area within a certain
context involving the WHO or WHAT, the WHERE, the WHEN and the WHY of the
problem situation. There are many problem situations that may give rise to research.
Three sources usually contribute to problem identification. Own experience or the
experience of others may be a source of problem supply. A second source could be
scientific literature. You may read about certain findings and notice that a certain
field was not covered. This could lead to a research problem. Theories could be a
third source. Shortcomings in theories could be researched.
Research Design
Research design is the conceptual structure within which research would be
conducted. Research design is a framework or blueprint for conducting a research
project. Research design is needed because it facilitates the smooth sailing of the
various research operations. The function of research design is to provide for the
collection of relevant information with minimal expenditure of effort, time and
money. Research design can be divided into fixed and flexible research designs. Fixed
designs are normally theory driven; otherwise it’s impossible to know in advance
which variables need to be controlled and measured. Often, these variables are
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measured quantitatively. Flexible designs allow for more freedom during the data
collection process.
This study was a descriptive study conducted mainly to familiarise with the activities,
processes, policies, programmes and procedures followed in the firm. Required data
for the study was collected through monitoring and interrogation. The study is made
personally visiting the company at Vennala, Kochi .The data were collected through
various methods. The methods adopted mainly are:
1) Primary data
2) Secondary data
Primary data
Primary data collected through discussion with manager, various department heads,
officers and employees.
Secondary data
Secondary data for the study was collected from internal annual reports, website, and
office records were used for collecting relevant information for this study and external
sources. Internal records like annual reports, website, office records, management
reports, house magazines were used for collecting relevant information for this study.
The data needed to prepare this project was obtained from other published sources
like internet, magazines, business dailies, journals and business magazines.
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CHAPTER 2Industrial profile
Company profile
Product profile
ORGANAZATIONAL STUDY AT V –GUARD INDUSTRIES Pvt Ltd
2.1 INDUSTRIAL PROFILE
Electricity is a cornerstone of national economy of any country and electrical industry
is so robust that prosperity and development of a country banks on it. The industry has
become an integral traction of the economy of a country, helps in promoting business
development and expansion, and opens the flood gate of employment opportunities
for people throughout the world.
Indian Electrical Industry
In the past, the pace of growth of the Indian electrical industry was laggard for want
of co-ordination & co-operation between authorities and development agencies and
technology backwardness. But at present, concerted efforts are made to rationalize the
power distribution industry & integrate power generation. The inception of electrical
manufacturing industry in India is recent and making humble progress because of
poor technology and dearth of research & development. Technological development
is something on which, electronic manufacturing heavily depends for its survival,
growth, and expansion and no manufacturer can survive unless he keeps himself in
line with the technological progress. The performance of the electrical industry is
closely connected with the electricity program of the country, so Indian government
devised an ambitious mission to provide power to all by 2012. This will multiply the
demand for heavy electrical equipments. The country is capable of manufacturing
heavy electrical equipment because there is a potent manufacturing foothold and
technology & infrastructure are available, competing with global standard.
Electronic Industry
The electronic industry has carved a niche in the metamorphosing and globalized
market. Ameliorating and accelerating high technology innovation & development is
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instrumental in the expansion of the industry. India is the fifth largest economy in the
world and marked down as a second largest gross domestic product (GDP) among the
rising economies. Because of its gargantuan population and the immense consumer
demand, robust growth performance can be ensured. The liberalization of the Indian
economy has caused constant change in financial, regulatory and monetary policies
leading to a faster pace of growth.
Electronics is one of the fastest growing segments of Indian industry both in terms of
production and exports. De-license of the industry along with liberalization in foreign
investment and concession in import tariff, attracts global players. Vast indigenous
market and efficient production base are also an attraction to the overseas companies.
2.2 GLOBAL SCENARIO
There is a sizeable potential market for voltage regulators in Asia, South America,
Africa and the Middle East since their electrical generations and distribution
infrastructure is still nascent. While fluctuation in supply voltage in the United States
is about 5 percent, it is around 20 percent in Mexico and South America and 10 to 15
percent in developing nations of Asia. Such fluctuations are very damaging;
especially because most applications connected to the supply have many electric
components Countries that lack a basic national power infrastructure generate power
for individual establishments on a small scale using crude facilities. Such plants,
especially the ones located near mines and oil wells, have substantial need for voltage
regulation .The drive to modernize industrial and telecommunications systems in
developing countries has to be backed with investments in voltage regulators to
protect the equipment and extend their lives. While customers readily invest in
uninterruptible power supply (UPS) systems to safeguard against black outs, they
seldom feel the need to install voltage regulators because of the invisibility of power
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fluctuations .This mind set has to be remedied by emphasizing the importance of
controlling fluctuations to prevent damage to loads connected to the supply.
Greater customer advances about advantages of each voltage regulating technology
and the applications they are suited for can also drive demand.
2.3 INDIAN SCENARIO
Voltage stabilizer are considered to be a necessity in most parts of India to protect
consumer appliances like TV, refrigerators, air conditioners etc as many regions in
India face problem of poor quality power supply fluctuation & high voltage. Though
some models of these appliances are sold with built in stabilizer, many consumers still
prefer to employ stabilizer for complete protection. The total market size for the
consumer durables market is about Rs 13600 crore in which CTV is the largest
contributor in this segment and the market has been estimated at 15.15 million units in
the year 2009-2010(Source: IMRB international survey August 2007) the consumer
durable sector has witnessed an overall growth of 27.5%in 2009 compared to the
corresponding previous year. The sectors which have recorded excellent growth rates
in terms of quantity produced are air conditioners. Colour TV, and refrigerators which
in turn lead to increase in the growth rate of stabilizers in the market tremendously.
2.4 ENTRY INTO GARMENTS
Chittilappilly empowerment of trusted people to implement projects and run them
independently has been a management practice, which was stretched to his wife
Sheela. A garment unit was started and Sheela was fully delegated to run the business.
It was a bold decision to enter a diversified business activity. Chittilappilly was
confident that his wife with her skills in managing home, and interest and
involvement in social projects, could manage this garment unit. "It was her own idea",
Chittilappilly remembers with confidence. Chittilappilly was confident that it was a
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business suited to her frame of mind. The confidence is reinforced by the fact that this
sector is growing upwardly with much scope for ` exports. However, Chittilappilly
wanted the brand name to be delinked from V-Guard. Therefore, the garment products
were branded as "V Star". At present, the unit sells ladies garments and has a turnover
of approximately Rs. 10.5crones (2003-04). The garment was also outsourced as the
management team had become experienced in running business with complete out
sourcing. At present, the unit faces much competition from unorganized sector, which
is virtually exempt from tax burdens. However V Star's products are targeted towards
the brand conscious up Segment consumers enabling the price to be higher than the
unbranded garments. V Star products are sold through selected outlets where choosy
and finicky women flock in.
2.5 REALIZATION OF A GREAT DREAM: THE THEME PARK
Chittilappilly continuously exercised delegation to his trusted senior management
team consisting of Mr.Vijayan, the GM, Mr. Antony Sebastian, the DGM and Mr. Jay
raj, the AGM, and others. A. major intention was to set apart his time for creative
conceptualization of new projects. Moreover, it enabled him to get out of the
monotony in mundane and routine operations for which his management team is one
more thorough than Chittilappilly himself. It was his desire to do something
unconventional and different from his main stream of business activity. He used to
spend his leisure time in going to amusement parks than going for shopping. A visit
with his family to many such amusement parks in India and abroad created so much
passion for starting an amusement park in Cochin. He said a man to his desire not
because of the 18acres of beautiful land he possessed at Kakannad, the suburb of
Cochin, but because he wanted to be truly creative and unconventional in his
new endeavours. Moreover, he was confident that an amusement park of this kind
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would generate rich cash inflow due to its attractiveness to a vast majority of fun-
loving Keralites.A market research by V-Guard team showed that more than 50 % of
the visitors to parks located in neighbouring Tamil Nadu are Keralites.A.
Chittilappilly confidence was strengthened by the belief that this project with its
comparatively lesser portion of variable expense and at current level of fixed cost can
generate higher sales revenue and profit with reasonably higher margin. Without a
second thought, he conveyed his new idea to his management team and separated a
set of creative-minded subordinates for exploring and exploiting this opportunity.
Eighteen acres of land was added to the existing property to convert the land into a
beautiful landscape. The team was sent to different amusement parks in India and
abroad and they were energized to go into action. It took two years of meticulous
planning and action for Chittilappilly's team to open the floodgates of V-Guard
amusement park to the public in 2000. While selecting human resources for
Veegaland, Chittilappilly was not particular not to pick up anyone having previous
experience in water theme parks, nor did he choose an architect who had experience
in designing theme parks. This was because he was apprehensive of stereotyping and
imitation, which would hamper the creative and innovative culture that V-Guard team
possessed. "A seasoned architect wouldn't accept my ideas", Chittilappilly says.
Therefore, a young and dynamic architect was chosen for this Herculean task. Yet
Chittilappilly confesses that some premature ideas were implemented in the initial
stage which had to be rectified later. The visit to leading theme parks in India and
abroad by the selected empowered team and their experiential learning put
tremendous confidence in the team. Chittilappilly was only coordinating their visit
and action plans. It is amazing to note that even the food and beverage team intended
to run the restaurants and eat-outs inVeegaland were from V-Guard Itself. Attention
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to every detail and precision and the hard labour of the team made a highly cherished
dream a reality. In 2005, Veegaland is completing its fifth year of operation. People
visit Veegaland just like they go for religious pilgrimage. The beautiful and clean
ambience of Veegaland is a unique experience for the visitors. No wonder many
members of the maintenance staff are engaged in painting and repainting the inside of
the theme park to upkeep the fresh outlook. Although school children constitute the
major segment, Gulf malayalies are a niche segment and brand ambassadors of
Veegaland. These NRIs give good word of mouth publicity for the theme park .V-
Guard's strong dealer network helped very much in promoting Veegaland in distant
parts of Kerala and outside. A theme park like this is affordable and matching with the
life style of Keralites.A. The investment in the park is comparably so high that the
facilities, design, service and amusement level are unmatchable. Hence, the
investment has caused entry barriers for other ambitious business groups to try their
fortune in a theme park. The scale and magnitude of visitors is very encouraging
according to the management team of Veegaland. In the peak months of March, April
and May, the number of visitors rises to as high as 5,000 per day. This unexpected
boom in the number of visitors necessitated major modification and expansion
involving doubling of the capital investment. With an entry fee of Rs. 350 on
weekend days and Rs. 280 on other days, and 2/3rd of that for children, it is good
money that the business brings. Even with a low figure of 500 visitors per day during
lean season, Veegaland was able to achieve a turnover of Rs.18.5 crore and a net
profit of around Rs. 5 crore in 2004. Even with a daily cost of Rs.30, 000 for
electricity and nearly 200 permanent staff, the management makes it a point not to
shut the doors for public even on day of leanest traffic. Encouraged by the positive
outcome and personal satisfaction, Chittilappilly enjoys from this venture.
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Chittilappilly’s vision stretched to Bangalore making a jewel in Bangalore, a water
amusement park which is expected to be much more attractive than the Vrindavan
gardens. The project is underway at the outskirts of Bangalore. As in the past, a team
is cut out from V-Guard, and Veegaland now headed by Chittilappilly own
Australian-educated engineer son and his wife. The park is to be spread over a large
span of 80 acres when it becomes fully operational. It is comparable to the world-
class theme parks. The investment cost is Rs. 65 crore. Seventy-five percent of
the financing is through loan.
2.6 FACTORS GOVERNING THE GROWTH OF THE INDUSTRY
Every industry thrives on some supporting factors. in this connection there are
few factors governing the growth of electrical and electronic industry.
Research and development played an important role to the increased
productivity and higher value added electrical and electronic products.
Foreign investments accelerated growth in production and export as well. to
expand their business ,foreign companies have done huge investments which
lead developing countries in establishing production units.
Global industries like medical, telecommunications, industrial and automotive
industries have been cordially supported by electrical and electronic industry.
Increase in income changed living standards of the common mass. As a result,
it increased in the demand of electronics especially consumer electronics
product globally.
Asia pacific region is emerging as the most spinning place for the consumer
electronics industry, as the market remains still unreached. Innovation has
played importantly in this industry .it led to a consistent demand for newer and
faster products and applications
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2.2 COMPANY PROFILES
2.2.1 BACK GROUND
In 1977, Shri.Kochouseph Chittilappilly began a small manufacturing unit for voltage
stabilizers with a vision and a capital of Rs 1, 00,000 borrowed from his father. He
soon established V-Guard Industries as a household name. V-Guard became the
synonym for voltage stabilizers across South India. The company soon extended their
range of products to include Pumps & Motors, Electric Water Heaters, Solar Water
Heaters, Cables, UPS’s, and Ceiling Fans.
V-Guard continues to remain at the helm through rigorous research and development.
R&D labs at Cochin and Coimbatore explore and reinvent existing products and
design. R&D for electronic products and electric geysers are carried out in Cochin
while electro-mechanical products, electrical wires and solar water heaters are the
strong point of the Coimbatore R&D lab. State of the art production centres ensure
consistency and quality throughout the product range.
Workforce being the core asset of any organisation, V-Guard has employee strength
of more than 1300 and over 5500 indirect employees through its SHG initiatives.
With nearly 200 distributors and service centres and above 9500 retailers serving the
needs of a 50 million customers, V-Guard stands as a market leader.
2.2.2 MAJOR EVENTS AND BREAK THROUGH
1977: Mr KOCHUSEPH CHITTILAPPILY set up premier electronics with an
investment of Rs 100000 and with just two employees. Two refrigerator
stabilizer were manufacture each day
1980: Launched AC stabilizer
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1982: Started another unit called-Universal Electronics
1983: Started ―supreme Electronics
1986: Started ―prompt India. Expanded operations outside Kerala by opening of Tamil
Nadu branch, followed by a branch in Karnataka. Prompt India started
marketing stabilizer in the name of V-guard.
1987: Launched Servo-Controlled Stabilizers
1989: Prompt India converted into V- guard industries‘
1992: Launched v guard pumps and started a new branch office in Andhra Pradesh
1996: v guard industries became a public limited company. Launched V- Guard
Water heaters and wiring cables.
1997: launched Aquatron, an electronic water level controller for overhead water
Tanks
1998: launched UPS
1999: launched digital stabilizer and diversified into electric cables business withV
guard cable manufacturing unit at Coimbatore.
2000: turnover crosses INR 1000 Million mark
2001: Launched compressor pumps. Company is converted into PVT ltd for Better
manoeuvrability
2002: launched v guard solar water heaters
2003: solar water heater manufacturing unit and electro mechanical works for
manufacturing pumps in Coimbatore becomes operational. Branch office started
in Delhi
2005: launched solar water heaters with evacuated glass tube collected Technology.
2006: launched v guard fans. Branch office in Bhubaneswar, Pune and Hubli
Padmashree Institute Of Management Studies Page 24
ORGANAZATIONAL STUDY AT V –GUARD INDUSTRIES Pvt Ltd
2007: new branch offices at Vijayawada. , Bhopal, kalaamb, Vadodara, Kanpur,
Nagpur, Raipur, Jamshedpur, Ludhiana, and Jaipur. Turnover crossedINR 2400
million marks. V guard industries became a public limited company.
2008: Listed in BSE and NSE. Launched inverters & LT cables, new factories at
Coimbatore & Kashipur established.
2009: new LT cable factories at Kashipur and Coimbatore become operational
2009: opened manufacturing facility for water heaters and fan at Kalaamb, HP
2010: turnover crosses 4600 million marks.
2.2.3 PRESENT SCENARIO
The Financial Year 2011-12 has been another milestone in the history of the
Company and a memorable year for the Organization with gross revenue from
operations crossing 1000 crores. During the year under review gross revenue from
operations was 1,006.78 crores and net revenue from operations were 993.63 crores
representing a growth of 36.75% over the net revenue from Operations of 726.62
crores for the previous year. Company has completed the construction of distribution
centres at Hubli and Vijayawada during the year under review and thus completed all
the projects of the Initial Public Offer. Project relating to construction of a state of art
facility for the manufacture of Solar Water Heater of different capacities at the
industrial land acquired in Perundurai has been completed and commercial production
is expected to commence during the Financial Year 2012-13.During the year
Company had organized “V-Guard BIG IDEA Business Plan Contest 2011” inviting
B-Tech and B-School students to come up with Business Plans as to what they
thought the Company should be doing for achieving its growth plans in future and to
make V-Guard a trusted household name.
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ORGANAZATIONAL STUDY AT V –GUARD INDUSTRIES Pvt Ltd
2.2.4 CERTIFICATION, AWARDS AND RECOGNITION
1 Best entrepreneur in Kerala awarded to Kochuseph Chittalllappilly, CMD, V
guard industries Pvt Ltd. (1993)
2 Highest individual income tax payer from the state 1993 to 1995.
3 Vyavasaya jyothi award given by the Ernakulum chamber of commerce.
(1996)
4 Industry excellence award for medium scale industries awarded by the
institution of engineering (India), Cochin (1998)
5 Millennium businessman of Kerala awarded by business deepika (2000)
6 Business man of the year awarded by dhanam magazine (2007)
7 Kerala no 1 consumer durables product category from dhanam magazine
8 Fact MKK nayar memorial productivity award for the year 2006-2007 from
Kerala state development corporation
2.2.5 PROMOTERS OF V-GUARD
Mr. Kochouseph Chittilappilly, Post graduate in Science majoring in Physics from
Calicut University.
Ms. Sheela Kochouseph, B.Sc, Home Science graduate from University of Calicut
2.2.6 BOARD OF DIRECTORS
CHAIRMAN : Shri. P G R Prasad
VICE CHAIRMAN : Shri. Kochouseph Chittilappilly
MANAGING DIRECTOR : Shri Mithun K Chittilappilly
JOINT MANAGING DIRECTOR : Dr. George Sleeba
DIRECTOR : Shri. C J George
DIRECTOR : Shri. A K Nair
Padmashree Institute Of Management Studies Page 26
ORGANAZATIONAL STUDY AT V –GUARD INDUSTRIES Pvt Ltd
BOARD COMMITTEES
AUDIT COMMITTEE:-
CHAIRMAN : Shri. P G R Prasad
MEMBER : Shri. Mithun K Chittilappilly
MEMBER : Shri. C J George
MEMBER : Shri. A K Nair
REMUNERATION COMMITTEE:-
CHAIRMAN : Shri C J George
MEMBER : Shri. P G R Prasad
MEMBER : Shri. A K Nair
MEMBER : Shri Kochouseph Chittilappilly
SHAREHOLDERS GRIEVANCE
TRANSFER COMMITTEE:-
CHAIRMAN : Shri. C J George
MEMBER : Shri. P G R Prasad
MEMBER : Shri. Mithun K Chittilappilly
CHIEF FINANCIAL OFFICER : Shri. A Jacob Kuruvilla
COMPANY SECRETARY : Smt. Jayasree K
AUDITORS : Deloitte Haskins and Sells
Chartered Accountants
Kochi-682016
BANKERS : The Dhanalaxmi Bank Ltd.
Padmashree Institute Of Management Studies Page 27
ORGANAZATIONAL STUDY AT V –GUARD INDUSTRIES Pvt Ltd
State Bank of India
Standard Chartered Bank
Citi Bank
HDFC Bank Ltd.
Axis Bank Ltd.
Yes Bank Ltd.
Development Bank of Singapore Ltd
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