Professional Documents
Culture Documents
(Swaraj Tractors)
Submitted in partial fulfillment of the requirements for the award of degree
Mahindra and Mahindra Ltd. Farm Equipment Sector, Swaraj Division (Punjab India)
Submitted By: Varinder Kumar DEPARTMENT OF MANAGEMENT PUNJAB TECHNICAL UNIVERSITY JALLANDER (2009- 2010) Cordia Institute of Business Management Sanghol (Fatehgarh Sahib)
ACKNOWLEDGEMENT:Any endeavor cannot lead to success unless and until a proper platform is provided for the same. This is the reason I find myself very fortunate to have undergone my industrial training of four weeks at MAHINDRA AND MAHINDRA LIMITED. The persons of my department and all other departments have extended a warm and helping hand. I am very fortunate to have had a chance to feel the gravity of what role Management plays in the industry. It was a golden opportunity for me to get a chance to experience what it feels to be in a company where discipline, quality and hard work are the motto. This training helped me a lot in bridging the gap between the theoretical and the practical aspects of my knowledge. First of all I would like to thank MISS FALKI GUPTA for his valuable guidance & encouragement as a teacher and a friend throughout my training period. I am also thankful to MR. J.P. SINGH for giving me an opportunity to undergo training in such a renowned company. My heartily thanks to Mr. VIRENDRA GUPTA who was my project manager. Mr. Bipin Bhandari my guide through the project works. They always went out of their way to help me at all times. Their experience & knowledge motivated me to bring out the best in times. I am sure that the knowledge & information that I have gained during this period would be of immense value for my growth in the field of Marketing Management. Last but certainly not the least I would like to thank all the workmen and apprentices especially Mr. Prem Kumar who gave me awareness of the various processes going on the shop floor and helped me to take full advantage of this training.
CONTENTS:-
Tractor Industry in India Current manufacturers of tractors in India Growth rate of tractor industry 2. Mahindra and Mahindra Limited Birth of Punjab tractor ltd. Location and promotion Growth and expansion
3. The Swaraj Journey 4. Product line of mahindra and mahindra ltd. 5. Shares Prices Of Mahindra and Mahindra Ltd 6. Criteria for exercising the authority 7. Public representation of company 8. comparison based on pto &cc power Corporate 9. Objectives of the study 10. Research methodology 11. Analysis and inferences 12. Conclusion 13. Summary 14. Questionnaire 15. Bibliography
part of farm structure. The application of tractor for agriculture activities which swept India during the last twenty years has erased the problem of farmers. Farm mechanization program in India aims to integrate the uses of available human and animal farm power with mechanical sources of power for increasing the productivity. Indian tractor industry, comparatively young by world standards have expanded at a spectacular pace during last four decades. Consequently it now occupies a place of pride in Indias auto mobile industry U.S.A. U.S.S.R. and only a few western European countries exceed the current production of the tractors in India, but in term of growth is unmatched even with countries of long history of tractor manufacturing. The spectacular achievement reflects the maturity and dynamism of tractor manufacturers and also the policies adopted by the government to enable it to effectively meet the demand .the tractor industry in India has made a significant progress in terms of production and capacity as well as indigenization of technology .it is typical sector where both imported technology and indigenous developed technology have developed towards meeting the overall national requirements. The global spotlight on tractors manufacturers certainly in terms of volume seems to be swinging away from USA, UK and western and eastern Europe towards India where growth in the number of producers and the total volume in recent years have been impressive . In India tractors industry has played a vital role in the development. Indias gross cropped area is next only to United States of America and Russia and along with fragmented land holding has helped India to become the largest tractor market in the world. But it drops to eight position in terms of total tractor in use in the country when compared to international figures ,only 3% of total tractors used all over the world . It is to be noted that while the overall automobile industry is facing recession the tractor industry is growing at 9% .about 20% of world tractor production is carried out in our country only. The arable land in India is high as 12% of the total arable land of world. The tractor market in India is about Rs 6000crore .on an average around 400000 tractors are produced and their sale is 260000. Utter Pradesh is the largest tractor market in our country. One out of every four tractor is being purchased here. Indian tractor market has to be viewed considering its position in the world with respect to key parameters in the world with respect to key parameters as given below:
The tractors available in developed countries have advanced features and accessories that is not found in Indian tractors .tractor industry has made a steady and satisfactory progress even in drought areas .four factors have contributed to the steady progress : 1. Government laid stress on the mechanization of agriculture with a view to boost food grain production. Therefore agriculture sector started receiving financial assistance. 2. There is an increase in awareness among the farmers for the need of farm mechanization and are keen to acquire tractor with the help of credit facilities from financial institutions. 3. Agronomists believe that there is need for more tilling due to depletion of moisture and repeated cultivation of land. It is precisely for this reason that the demand for tractors was well maintained even during a draught period. 4. Animal power available is too inadequate to meet power demand of our farmers. Mechanized operations are preferred to eliminate drudgery and labour shortage during harvesting increased the use of tractor. At the end of the day there are enough reasons to believe that the industry will grow because: 1. More farmers are opting for multiple cropping over last decade .country s net cropped area had remain virtually stagnant while gross cropped cropping. 2. 95% of tractor sales are on credit. Credit is extended by commercial banks, state land development banks and regional rural banks. 3. Irrigation facilities reduce reliance on the monsoon and allow for quick yielding varieties of food grains. To reduces the cropping cycle to 3-4 months from the traditional 5-6months. Reduced cropping cycle require deep tilling which translates into higher demand for tractors. 4. Cost of tractors in India is the cheapest in world. The cost of a finished tractor here is as much as the cost of gear box in developed countries. Hence there exists tremendous scope for exports. 5. According to a study conducted by PhD chamber of commerce and industry, since purchase of tractor involves a big investment its demand in affected by area increased by about 4.7%.this indicate the increased popularity of multiple
the availability and easiness of credit .a higher availability of credit will lead to a higher demand for tractors. 6. The tractors between the 31 -40 horse power and 31 -40hp ranges dominate the market. The reason for medium horse power tractors being more popular are that the major tractor demanding states like Punjab Haryana and utter Pradesh have plenty of alluvial soil which dont require deep tilling. Lately it is visualized that higher hp segment has the maximum growth potential higher horse powered tractors will be the future requirement with the government intention to encourage contract farming through the leasing in and leasing in and leasing out of farm lands. 7. Regarding exports India of latter has been exporting tractors to a number of countries, but predominantly to Sri Lanka, Nepal and USA. However the study reveals that exports from India are going down in the recent years. the major reason for the decline in exports of tractors of tractor from India is being he failure of find an extensive market overseas, deteriorating foreign exchange situation in African countries and their poor buying capacity, comparatively cheaper imports of second hand tractors by south east Asian countries and the disintegration of erstwhile U. S. S. R. but also the potential export markets can be explored by Indian in the failure. Since Indian tractors confirm to the international standard by virtue of their foreign collaboration it is possible for India tractors to the rice and wheat growing countries like Canada, Philippines and Bangladesh. FOREIGN COLLABORATIONS Tractor industry along with others benefited from this policy which allowed free in flow of foreign technology. The manufacture of tractors started in India mainly with the help of foreign collaboration secured from international reputed companies from the USA, UK, USSR, WEST GERMANY, POLAND, and CZECH SLOVAKIA. Most of the models which were taken up for manufacture in India were developed overseas. Soon after the decision for the manufacture of tractors was made during second plan, government approved number of foreign collaboration agreements. The establishment and present status of tractor industry owes a great deal to the support
received by the Indian entrepreneurs from foreign collaboration during the initial phase of manufacture DSIR has introduced a scheme, national register of foreign collaborations, which envisages Review and analysis of imported technologies in the country and suggested measures for appropriate choices acquisition and implementation of foreign know-how major objective of scheme is 1. To undertake financial, economic and legal analysis of set of data on foreign collaboration. 2. Carry out technological, analysis of the imported technology and provide a stage of art technology in the country and status of implementation of collaboration. 3. Co- ordinate with ministry of industry, commerce and finance by providing technology data input. 4. Selective support to strength measures in research and development for technology absorption.
MANUFACTURES AND COLLABORATIONS. MANUFACTURES Eicher tractor ltd Gajarat tractors ltd Tafe Escorts ltd COLLABORATION Gebr, eicher tractor, west germany Motokov-praha, Czechoslovakia Messey ferguson.uk moloimport Arazawa Zaklady Machanicze, Ursus Poland Mahindra and Mahindra Escort tractor ltd Hindustan machine tools Kirloskar tractors Lmt Punjab tractor limited Pattie tractor limited Harsha tractor limited Auto tractor limited United auto tractor ltd Asian tractor ltd Bajaj tempo ltd International tractors Larsen and Tourbo Ltd New Holland tractor Greaves ltd International harvester, UK Ford, UK Motokov-praha, Czechoslovakia 1965 1971 1971 YEAR 1961 1963 1961 1964
klochner Humboldt Deutz,Germany1974 CMERI.INDIA own know how Moto Import, Russia British Layland, UK Uzina Tractorul, Romania Own Know How Own Know How Own Know How John Deere, U.S.A. New Holland Tractors, ITALY Same Deutz-Fahr,ITALY 1974 1974 1975 1981 1986 1989 1987 1998 1999 1999 1999
Six new manufacturers were established during this period although three companies (Kirloskar Tractors, Harsha Tractors and Pittie Tractors) did not survive. Escorts Ltd. began local manufacture of Ford tractors in 1971 in collaboration with Ford, UK and total production climbed steadily to 33,000 in 1975 reaching 71,000 by 1980. Credit facilities for farmers continued to improve and the tractor market expanded rapidly with the total in use passing the half million mark by 1980. 1981 TO 1990 A further five manufacturers began production during this period but only one of these survived in the increasingly competitive market place. Annual production exceeded 75,000 units by 1985 and reached 140,000 in 1990 when the total in use was about 1.2 million. Then India - a net importer up to the mid-seventies - became an exporter in the 1980s mainly to countries in Africa. 1991 to 1997 Since 1992, it has not been necessary to obtain an industrial license for tractor manufacture in India. By 1997 annual production exceeded 255,000 units and the national tractor population had passed the two million mark. India now emerged as one of the world leaders in wheeled tractor production. 1997 TO 1999 Five new manufacturers have started production since 1997. In 1998 Bajaj Tempo, already well established in the motor industry, began tractor production in Pune. In April of the same year New Holland Tractor (India) Ltd launched production of 70 hp tractors with matching equipment. The company is making a $US 75 million initial investment in a state of the art plant at Greater Noida in Uttar Pradesh state with an initial capacity of 35000 units per year. Larsen and Toubro have established a joint venture with John Deere, USA for the manufacture of 35-65 hp tractors at a plant in Pune, Maharashtra and Greeves Ltd will produce same tractors under similar arrangements with Same Deutz-Fahr of Italy. Looking to South American export markets Mahindra and Mahindra are also developing a joint venture with Case for
tractors in the 60-200 hp range. Total annual production was forecast to reach 300,000 during the following year. 1999 TO PRESENT Facing market saturation in the traditional markets of the North West (Punjab, Haryana, and eastern Uttar Pradesh) tractors sales began a slow and slight decline. By 2002 sales went below 200,000. Manufacturers scrambled to push into eastern and southern India markets in an attempt to reverse the decline, and began exploring the potential for overseas markets. Sales remained in a slump, and added to the market saturation problems also came increased problems of "prestige" loan defaults, where farmers who were not financially able took tractors in moves to increase their families prestige. There is also reported increased misuse of these loans for buying either lifestyle goods, or for social functions. Government and private banks have both tightened their lending for this sector adding to the industry and farmers woes. By 2004 a slight up tick in sales once again due to stronger and national and to some extent international markets. But by 2006 sales once again were down to 216,000 and now in 2007-08 have slid further to just over 200,000.
CURRENT MANUFACTURES OF TRACTORS IN INDIA Balwan tractors, Force motors ltd Captain tractors Pvt. Ltd Crossword agro industries Eicher Escorts (Escorts, Powertrac and Farmtrac) Ford tractors HMT tractors Indo Farm John Deere Mahindra Gujarat tractor limited Mahindra & Mahindra MARS farm equipments LTD. New Holland Preet Tractors Punjab Tractors Ltd(Swaraj Tractors) Same Deutz-Fahr Ltd. Sonalika (International Tractors Ltd.) Standard Tractors Tafe VST Tillers
GROWTH RATE OF TRACTOR INDUSTRY The Indian tractor industry, which closed fiscal 2004-05 on a very positive note with 250000 units, is likely to continue riding the growth path this fiscal. The industry is likely to witness 10% growth in the current financial year .RC Jain, president, tractor manufacture association said, the growth this year would be driven by factors like increment in minimum support price ,coupled with more emphasis on agriculture financing. The projections for the current fiscal are far less than those of the previous fiscal when the industry saw 30 percent growth 250000 units from 190000 units. This can be attributed to the high growth base of fiscal 2003-04.Although might look minimal, its much higher in terms of absolute numbers. After all, one cannot undermine the pace at which the industry grew last fiscal. It witnessed a whopping 45 percent growth in the second quarter of 2003-04 said Jain. An increment in the minimum support price of agricultural produces was announced in the union budget this year. This is likely to give a fillip to the overall growth of the industry, feels Jain. The minimum support price for wheat has been increased to rs 1600 per quintal to rs1600per quintal for mustard, and Rs25 to Rs30 per quintal for oil seeds and other. This is a confidence building measure for a farmer and helps him plan his cash flow much in advance.Said Jain, who is of the opinion all these factors are a positive indicator from the environment. Agriculture financing, which is going to be one of the major focus areas this year ,would also be one of the key drivers for the industries .total outlay for agriculture financing, which ,which was Rs108500 crore till last year, has been increased by 30 percent this year. In addition to that, banks have also increased the borrowing limits. at a macro level, all these factors should give an impetus to the industry, hence taking everything into account, I think expecting a 10 percent growth would be too ambitious Claimed Jain. He, however, feels the first two months of financing has not been very good and has been rather sluggish. While the states of TamilNadu and Andhra Pradesh have been
doing extremely well owing to aggressive agricultural financing by state bank of India, states in the northern belt have been quite slothful due to poor agricultural financing and other factors. Exports, like previous year, would be pivotal to the industry.We have seen a 100 percent growth in exports in April and may this year and we expect to close the current year with an overall growth of 40 to 50 percent said Jain. However, the factors driving exports would be completely different from that of the domestic ones .this would mainly be guided by the multinational tractor manufactures that have made India as an export hub for sourcing of aggregates and tractors .hence the growth will depend on the level of outsourcing by companies like l & t john Deere and new Holland tractors and some domestic manufactures like escorts and Mahindra & Mahindra who have adopted aggressive for overseas markets. Commenting on the potential exports markets manufactures would be looking at, Jain said. USA would govern the export market. Some Indian companies are trying to get into the agriculture segment in USA but by and large its going to be the hobby and life style segment. Africa and some of the neighboring countries are some other markets that would see entry of more players. In the domestic markets, tractors up to 30 hp are going to see maximum action. However, in terms of percentage growth, 30 hp plus is going to dominate the science. The industry is likely to close the current year with 270000 units, concluded Jain. ABOUT MAHINDRA AND MAHINDRA LIMITED Mahindra And Mahindra Limited company is one of the major companies of India based on totally Indian design. Punjab tractors limited came into being in 1971 and blossomed into one of the largest producer of tractors, power tillers, agricultural machinery and implements and parts thereof. Punjab tractors limited production commenced with the commissioning of its alone plant at S.A.S Nagar (Mohali) which is just 7 kms .away from Chandigarh , with an annual capacity of 5000 tractors in the first phase moving up to the licensed capacity of 12000 tractors per annum during the second phase . Now it has also started its two more division at Chaperchiri and foundry division at Majri which are also near Chandigarh .Punjab tractors limited has won several awards from govt. for its better production and exportation capability.
Punjab tractor limited has its head office at SAS Nagar (Mohali) near Chandigarh Punjab tractor limited in administered by rules and policies as framed by board of tractors which has been elected /nominated director from apex federation /cooperative societies /centre govt. managing director the executive head who executes and implements the rules and policies .he is supported by marketing director, a finance directors and an a executive director (personnel and administration)at head office level. The company planned to take up commercial production of tractors for which the technology was in dangerously A,B,C,D. Karnal, Rohtak, Lucknow, Varanasi, Bhopal, Ahamdabad, Jaipur, Vijaywada, Madras, and Pune each marketing office is headed by zonal offices. BIRTH OF PUNJAB TRACTORS LTD On the 27th of June 1970 Construction work at Punjab Tractors Ltd., commenced in March, 1972. Keeping in mind Punjabs agrarian economy it was decided by the Punjab government to encourage the growth of Industries, which complement Punjab agriculture growth. This task was entrusted to Punjab state industrial Development Corporation (PSIDC). This has played a major role in brining Punjab to the threshold of the industrial revolution. With the dual objective and agriculture growth, PUNJAB TRACTOR LIMITED was established on 27th Punjab Tractors Ltd., a public limited company was established under the companys Act 1956 June 1970. Location and promotion The plant is located at phase 4, Sahibzada Ajit Singh Nagar, District Mohali, Punjab on a 24 acre campus production and support facilities are housed in a covered area of 140,000 Sq. ft. at the central mechanical engineering research institute (CMERI) ,Durgapur. Punjab tractor limited is divided into marketing zone
It was promoted by Punjab Govt. through its PSIDC. Punjab Tractors Limiteds promotion was actively assisted by the Industrial Development banking Institutions of the Govt. of India (Industrial development Bank of India) Industrial financial Corporation of India, The Industrial Credit & Investment Corporation of India Ltd., Life Insurance Corporation of India & UTI. The first beach of trail tractors rolled out on 14 th November 1973 and commercial production started in April 1974, with Swaraj 724, a 26.5. H.P. (SAE). Another model a 39 HP (SAE) tractor Called Swaraj 735 was introduced in SAMRAT, a 45 HP Tractor and self Propelled harvester combines are its advance developments. One more model was introduced Swaraj-855 (55 SAE-BHP) And Swaraj-8100, a self propelled Harvester combines are being manufactured in a plant set up at village Chappercher in Ropar District. Recently, a new model the Swaraj 744 in the hitherto unrepresented 40.5 Hp range was introduced with a market size of 50,000 tractors 1975. To meet the requirement of small farmers, yet another tractor of low cost and 19 HP (SAE) was development in year 1978 Swaraj.
GROwTH AND EXPANSION Punjab Tractor Ltd. is undergoing rapid expansion program. For the year that ended on 31st march, 2000 the company posted record financial performance and expanded operation taking its tractor market share to 18.9% and total revenue to Rs. 1025.0 crores. It has been decided to expand the manufacturing Facilities from the capacity, this growth took volumes to another milestone- the 50,000 make reaching 50,705 tractors per annum. The spill over effect of the difficulties in the farm economy inevitably reduced demand for harvester combines. Sales were thus restricted to 206combine against previous year 280. Fork lift sales too stayed low key with 96 deliveries (last year 59). Production of costing at the foundry grew 15% reaching 9186 tons. SWARAJ JOURNEY
1965 1970
govt. of India research institute (CMERI) at Durgapur institute design and development of Swaraj tractor based on indigenous know how. u jab govt. though PSIDC acquire Swaraj tractors design from (CMERI) and establishes Punjab tractor LTD. (PTL) for its commercialization. pl set up swaraj project for 5000 tractors per annum at capital out lay
1971-73
of Rs 37.0 million with an equity base of Rs 11.0 million. 1974swaraj 724 (26.5hp) Tractor commercially introduced. 1975 1978 2nd tractor model swaraj 735 (39HP) developed by own R&D, commercially 3rd tractor model swaraj tractor 720 (19.5HP) developed by own R&D, introduced. commercially introduced. 1980guided by social concerns and responsibility, PTL take over PSIDCs sick scooter unit-------Punjab scooter LTD. India first self propelled harvester combine swaraj 8100developed by own R&D, commercially introduced. Swaraj foundry division set up in backward area. 1981 issue of maiden bonus share (2:5),paid up equity moves to rs 15.4 million. 1983 4th tractor model Swaraj 855 (55HP) developed by own R&D, commercially introduced. Expansion of annual capacity to 12,000 tractors per annum at plant 1. 1984 Swaraj Mazda ltd. Promoted in technical and financial collaboration with
Mazda motor corn. & sumitomo Corpn.Japan for manufacture of light commercial vehicles.PTLs equity participation is Rs 30.4 million (29%) and that of Mazda and sumitomos RS 27.0 million (26%) 1985 introduced. 1986 swaraj engines ltd promoted in technical and financial collaboration with kirloskar oil engines ltd. (koel) for manufacture of diesel engines. Ptls equity participation is Rs 6.9 million (33%) and that of koels Rs 3.6 million (17%). 1989 1990 1st right issue (1:1) at a premium of Rs 50/ per share (plus reservation of 200 2nd right issue (1:2) at a Premium of Rs 60/ per share (plus reservation of 200 shares per employee) paid up equity moves to Rs 31.6 million. shares per employee) paid up equity moves to Rs 50.6 million. 1992 2nd issue bonus share (1:1), paid up capital moves to Rs 101.2 million. Swaraj industrial forklift trucks developed by own R&D, commercially
1993annual tractor capacity expanded to 24,000 per annum at plant 1. 1995setuo of tractor plant 2nd at village chappercheri with annual capacity of 12,000 per annum. 19963rd issue of bonus shares (1:1) paid up equity moves to Rs 202.5 million. 1998commencement of expansion to 60,000 tractors (30, 0000 at each plant) capital outlay of Rs 1000 million, funded mainly through internal accruals. 1999 5th and 6th tractor models swaraj 733 (34 hp) and swaraj 744 (48 hp) by own R&D commercially introduced. developed
FY 1999s divided @250% was corporate Indias highest. 2000 expansion of annual tractor capacity to 6, 0000 completed. 4th issue of bonus shares (2:1), paid up equity moves to Rs 607.6 million. 2001ptl won national championship trophy in competition organized by all India management association (AIMA) for young managers. Economic times and Boston consulting group selects PTL as one of the Indias finest 10 companies out of economics times top 500 companies. 2002 cumulative tractor sales crosses 5, 00,000. 2003 PSIDCs disinvestment of its entire equity holding (23.49%) in ptl in favour of CDC financial services (Mauritius) ltd. With this total holding of CDC & its associates in ptl stands at 28.48%. 20047th and 8th tractor models-swaraj 939(41hp) and swaraj 834(34hp) developed by own R&D, commercially introduced.
Tractors -9 models, widest range Harvest combines Automotive castings Engineering exports Light commercial trucks Mini buses & ambulances
YEAR 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2007 up to march
HIGH 290 550* 410 500 499 834* 790 964 1539 1175 238 187 263 252 230 293
LOW 140 205** 205 320 345 360** 421 483 790 157*** 125 108 117 176 156 213
. Cum bonus **ex bonus (1:1) Domestic territorial Market Share And Dealer network (Year End) Territory North (Punjab, Haryana& Uttar Pradesh) Central (Madhya Pradesh & Rajasthan) East (Bihar, West Bengal, Orissa & Assam) West (Gujarat & Maharashtra) Swaraj Share 13.5% 8.4% 13.0% 13.8% Market no. of dealer as on 31-03-07 169 86 53 60
South (Andhra Pradesh, TamilNadu & Kerala) 11.1% Total 11.8% Punjab Tractors Registers 78% Growth Charanjit Ahuja Posted online: Friday, June 20, 2008 at 21:33 hrs Updated on: Friday, June 20, 2008 at 21:33 hrs
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Swaraj (Punjab Tractors Limited) has registered 78%sale growth in the last two months of the current fiscal compared with the corresponding period of the last year. The company sold 5511 tractors in the month of April and May of this year against 3090 tractors last year in same months. PTl chairman Anjani kumar Choudhary, managing director and CEO, Bishambhar Mishra and Deputy Manageing Director, A.M.Shawnhey said on Thursday after the take over of the Punjab Tractors Managemnet buy the new team, all out efforts were focused to bring back vibrancy in the organization. Chairman of PTL claimed that the performance of the company has been recognized by the outside world too and the PTL has received Greentech Safety Award on safety excellence awarded by Greentech Foundation (NGO), ITID Quality Excellence Award 2008 for quality consciousness by Institute of Trade and Industrial Development and AMITY Award for Corporate Excellence by the AMITY International Business School, Noida.
Sawheny informed that that PTL has taken corporate social Responsibilities as a major initiative this fiscal. 1% of profit after tax of the whole group will be spent on CSR activities with major thrust on the education, health and environment. Mahindra And Mahindra Tractors Limited Code of Ethics & Conducts
Code of Ethics & Conducts (the code) for Punjab tractors limited (PTL) is in alignment with its core value & Beliefs. Punjab Tractors has always recognised and shall continue to recoginise that the company has a long standing relationship with a farm & farming community- the National Heritage as well as the natural agenda which provide the company immense growth opportunities. Punjab tractors have always considered and shall continue to consider itself as Custodian and Trustee of all its Constituencies- customers, employee, business associates and shareholders. PTL has always sought and shall continue seek corporate excellence and profit by: -offering quality products with distinction futures at reasonable prices, ensuring better-than-the-best service for durable customer satisfaction. The quality standard of the products and services shall meet the required national standard and the company would strive to achieve the international slandered The company shall market its products and services own its own merits and shall not made un-fare and misleading statements about competitors product & services. Any collection of the competitive information shall be made only in the normal course of business. Creating an sustaining an employee-caring culture, inspiring each one t feel and behave as an owner an part of the enterprise. The company recognizes and shall continue to recognize that its core strength is the involvement of its employees, team spirit, their high integrity & abiding loyally and their life time commitment to the swaraj enterprise the company shall provide equal opportunities to all is employees and all qualified application for employment ,without regard to their race ,caste,religion,colour,ancestry,sex,age & disability. Employee of the company shall be treated with dignity & in accordance with the policy of maintaining a work environment free of sexual harassment. Employee policies and practices shall be administrated in a manner that ensures that in all matters equal opportunities is provided to those eligible and that decisions are based on merit. Creating and sustaining bonds with business associates evoking in them strong sense
of loyalty for the enterprise. Striving for consistently superior returns to share holders and other financials stake holders. Conducting business with highest standards of corporate behavior, tranperancy unyielding integrity. The company has not and shall not support directly and indirectly, any specific political party or candidate for political office. The company has not and shall not offer /give any company funds or property as donations, directly or indirectly, to any specific political party candidate or campaign
Applicability:- this code is applicable to all employees including members of board of directors(collectively referred as the employee(s) .
The principle and procedure in this code apply to all material transaction and describe the conduct expected of every employee of the company.
Accordingly employees of the company are expected to read and understand this code and conduct business ethically and with undiluted integrity, in compliance with applicable laws, and in a manner that excludes consideration of direct or indirect personal advantage gains.
It is imperative on every employee incurring or authorising transaction or expenditure to be guided by high standard of financial propriety, remembering always That maximizing revenues and minimising expenditure is the hall mark of a successful business and that expenditure should not prima facie be more than what the occasion / item demands To exercise the same vigilance on expenditure incurred from the funds of the company as a person of ordinary prudent would exercise when spending his/ her own
money and in case of any conflict of interest to without, place the company, s inerst ahead of the individual. That powers for sanctioning expenditure of a particular type should be exercised in such manner that the approved expense is justifiable is all aspects and is not a source of profit the recipient. That the assets of the company are be misused but employed for the purpose of conducting the business for which they are duty authorised. Every employed vested authority is responsible for enforcing strict financial discipline and utmost economy at every step. He / she is responsible and accountable for observance of the provisions of this code. Both by his / her own office / departments under his / her change. Confidentiality: The principle of honesty extends to issues of confidentiality of information. Employees are required to maintain the confidentiality of all material non public information relating to the companys business and affairs that they receive or become privy to in connection with the companys business, except when disclosure is authorized or legally mandated. Confidential information includes all non-public information that might prejudice the ability of the company to pursue its objectives, to be of use to competitors or harm the company, if disclosure .employees must not use confidential information information for their own advantage or profit directly or indirectly. Conflicts of interest: a conflict of interest exists where the interests or benefits of one person or entity conflict of the company. Accordingly, conflict of interest may exist when an employee is involved in an activity or has a personal interest (direct or indirect, by himself or through any number of his /her immediate family) that in the opinion of the company interferes with the employees objectivity in performing company duties and responsibility .hence an, employees duty to the company demand that he /she avoids and discloses actual and apparent conflicts to interest. Brief guideline in this regard is given below: A. employment/outside employment :
in consideration of employment with the company, employees are expected to devote their full attention to the business interest of company. Employees should avoid any relationship, influence, or activity that might impair, or even appear to impair, their ability to make objective and fair decisions when performing their job. company policies prohibit employees from accepting simultaneous employment with suppliers ,customers ,developers or competitors of the company, or from taking part in any activity that enhances or supports a competitors positions.additionally,employees must disclose to the companys VC and MD/audit committee any interest that they have that may conflict with the business of the company. B. Outside directorship and employment: It is a conflict of interest to serve as a Director of any other organization which is doing the similar business in which the company is engaged. Employee must first obtain approval from the companys VC/MD/audit committee before accepting a directorship of such organization. C.RELATED PARTIES:: As a general rules, employee should avoid conducting company business with a relative or with a business in which a relative is associated in any significance role. Relatives include parents, spouse and children. D. payments or gifts from others: A company employee shall neither receive nor offer or make, directly and indirectly, any illegal payments, remuneration, gifts, donation or comparable benefits which are intended to or perceived to obtain business or uncompetitive favours for the conduct of its business. However, an employee may accept and offer nominal gifts, which are customarily given. E. Corporate Opportunities: Employees shall not exploit for their own personal gain the opportunities that are discovered through the use of corporate property ,information or position, without prior full disclosure by them and consent there upon in writing from the company. Disclosure: the companys policy is to provide full, fair, accurate timely and understandable disclosure in reports and documents that the company file with or
submit to, the stock exchanges, sebi, and /or any other govt. agency and in all other public communications made by the company. Public representation of the company: In all its public appearances with respect to disclosing company and business information to public constituencies such as the media, the financial community employees and shareholders, company responsibility of these authorized directors and employees. It will be the sole responsibility of the authorized representatives to disclose information on the company. Compliance with statutory laws, rules,®ulation/internal company policies: Employees must comply with all applicable governmental laws rules and regulation relevant to the designated responsibilities.accordingly,they must acquire and possess requisite knowledge including legal requirements for the proper and due discharge of their responsibilities. Employees must also know and comply with all the companys internal policies and procedures. Violations of the code: every effort should be made to upload and promote the principles of this code. Not only it is important for employees to adhere to the principles expressed in this code, but each employee is also expected to encourage and support adherence by other employees. The company will take appropriate action against any employee whose action are found to violate the code or any other policy of the company, after giving him/her a reasonable opportunity of being heard. Where law has been violated, the company will cooperate fully with the appropriate authorities and regulators. Waivers and amendments of the code: This code is subject to continuous review and updating in line with any changes in law, changes in the companys philosophy, business policies, and plans or otherwise as may be deemed necessary from time to time by the board.
Comparison based on cibic capacity(c.c.)&pto power Models Tempo ox 45 cubic capacity (c.c.) 2596 PTO Power 42.60
Tempo ox Tempo ox 35 Eicher 241 NC Eicher 242NC Eicher 312 NC Eicher312 Eicher333 Eicher 368 Eicher380 Eicher480 Eicher485 EICHER 5660 Escort335 josh plus Escort Jawan (MPT) Farmtrac 30(hero) Farmtrac 35 (Champion) Farmtrac 45 DX Farmtrac 50 EPI Shakti Farmtrac 60 DX Farmtrac 65 EPI Farmtrac 70 DX HMT 3522 HMT 4022 HMT 4922 HMT 6522 HMT 7511 JOHN DHREE 5103 JOHN DHREE 5310 JOHN DHREE 5203
1797 1947 1557 1557 1790 1963 2365 2945 2500 2500 2945 3300 1960 1960 2150 2146 2862 2862 3147 3440 3440 2340 2340 2698 3597 4160 2900 2900 2900
17.50 32.50 20.40 20.10 28.10 30.48 33.33 34.00 36.33 39.46 41.09 48.44 20.60 16.93 33.88 35.78 35.78 35.92 42.86 36.10 50.20 30.60 37.20 41.70 55.51 64.50 37.55 37.20 42.72 55.51 20.54 17.60 21.70 30.70 40.82 42.10 51.00 48.30 27.10 48.71 50.48 34.60 34.00 35.90 28.40
JOHN DHREE 5310 2900 COLLAR SHIFT MAHINDRA 235DI 1735 MAHINDRA 245DI 1797 MAHINDRA 255 DI 1261 MAHINDRA 265 DI 1788 MAHINDRA 475 DI 2384 MAHINDRA 575 DI 2523 MAHINDRA 605 DI 3192 MAHINDRA 595DI SUPER TURBO2523 MAHINDRA ARJUN 445 DI 2394 MAHINDRA ARJUN 555 DI 3054 MAHINDRA ARJUN 605 DI 3192 MAHINDRA B275 DI (HIGH TORQUE)1892 MF 245 2500 ` MF1035 DI MAHASHAKTI 2365 MF 1035 S 2365
MF 6245 DI MAHAAN MF 5400 MF 4410 SAMRAT NEW HOLLAND 3130 NEW HOLLAND 3600 NEW HOLLAND 5500 NEW HOLLAND 5630 TX NEW HOLLAND 7500 POWERTRAC 434 POWERTRAC 439 POWERTRAC 445 POWERTRAC 455 POWERTRAC 4455 SONALIKA DI 740 SONALIKA DI 60CM SONALIKA DI 730 SONALIKA DI 35 SONALIKA DI 75 TURBO, CM, SONALIKA DI 740 SUPER CM SONALIKA DI 745 SONALIKA DI 750 FE SWARAJ 724 FE SWARAJ 733FE SWARAJ 735FE SWARAJ 744FE SWARAJ 834FE SWARAJ 855FE
2500 2700 2502 2500 2500 2931 3908 3908 2146 2146 2727 3120 2860 2400 3707 2194 2439 3707 2500 2592 2893 1727 2204 2592 3136 2473 3308
41.77 49.25 28.80 34.97 30.10 47.48 64.76 48.70 24.90 25.40 27.50 35.30 33.10 32.80 51.16 28.03 34.56 57.28 34.97 38.91 42.86 22.10 29.20 33.70 41.30 21.20 34.10
Research methodology Management essentially is concerned with the direction and control of various activities to attain business objectives. Marketing management in general and research in particular gives due emphasis to what the customers are looking for and based on the study of their attitudes, the enterprise design a new product or modifies the existing one. Marketing research their for solution to a host of critical problems that manager forces in this report it describes the methodology used in studying the problem. It shows the type of sample design used, sample size and procedure used to draw the sample and the method used for handling special problem during the course of study.
A questionnaire was prepared and filled after seeking responses of the respective customers. The questionnaire is attached with the reports at the end. STATEMENT OF THE HYPOTHESIS For the present study it is the hypothesis that PTL need to modify or improve the quality to motivate the customers. Description of Research Design A research design is a blue print for conducting the marketing the research project. A research design is the specification of method and producers for acquiring the information needed for solving the problem. The plan concentrates to the selection of sources of information and selection of method and producers for gathering data. To attain the objective of the research was conducted which as we know design to assist the decision maker in determining, selecting the best course of action to take in a situation. As per the extensive survey is carried out in an unbiased manner. The survey conducted in a MORINDA REGION in a randomly from at least 50 volunteers. A large area of Morinda region is agriculture land.
SOURCE OF DATA To make the research complete, it is very important to have the necessary and useful data. Sometimes data can be available readily in one from the other and sometimes they have to be collected is searcher can tap sources from two heads? Internal External
INTERNAL SOURCES Internal sources are the company own record, registered documents etc. A. Sales Reports: researcher can use these to collect internal in formation sales are studied to see what has been the performance of company vis--vis competitor. B. Company Profile: to get the internal information about the company profile was used. EXTERNAL SOURCES All other sources of information are external sources data which is classified in to primary data and secondary data. A. Primary Data: this is the first hand data this data is collected by the researcher himself. This data can be collected through. 1. survey 2. observation 3. experiment Depending on the nature and type of study, survey method was under taken which is explained below:
Survey method: The survey method of obtaining information is based on the questioning and the answering of respondent are asked a actuality of question regarding their opinion about project and behavior. The questions were asked verbally and response was sought: The questions were direct as well as indirect. Also the question asked was open handed. B. Secondary Data: some compiled by some one other then the researcher for purpose not directly related to the research currently under consideration. There are many examples of secondary data explained below are used by the researcher. 1. MAGAZINES: Business India, Business today EWI(TRACTORS) 2. NEWSPAPER: The tribune, The times of India, The economic times
Purpose /Objectives of the Project/Research:The topic of the project has been started earlier and it was given to us a part of summer training. The objectives of the project were to determine: 1. The identify the attributes deciding purchase of a tractor by farmers. 2. To study the staff involved in the process of buying and decision making by a farmer for particular brand. 3. To suggest suitable marketing strategy to Mahindra and Mahindra ltd. 4. In depth study of tractor market. 5. To get the knowledge about market strategies for increasing the sale. 6. To know about the customers buying behaviors and what they want to change in new tractor. 7. The identify the attributes deciding purchase of a tractor by farmers. 8. To fulfill the objectives of the project, we supposed to a survey of rural customers. Organizations benefit /gain through the project 1. Organization have trainees and there is no need to organization to send there employees to gain this type of knowledge and there is no need to leave their work.
2. Organization can get deep knowledge about the customers buying behavior. 3. Organization will get correct information about its status in market. 4. Organization will know about the major reason of sale. 5. Organization can get deep knowledge about which factor influence the buying behavior &like, dislike, customers opinion. 6. After the information, organization can find the solution to solve the problems which are based on this topic. Organization can make new strategies to increase the sale and follow the new changes in product which are needed to the customers. 7. To fulfill the objectives of the project, we were supported to conduct a market survey of ruler customers. We were supported to give correct information with any business.
CUSTOMER SURVEY:
The method of sampling was a judgment sampling whereby judgment of our customers we try our best to give exact figure.
20%
80%
1 (b) If not then, did you ever have Swaraj Tractor? YES NO 75% 25%
25%
yes no
75%
2. Which model of swaraj tractor do you has /had? MODEL 855FE 735FE 744FE 722FE 724FE 978FE SALE (%age) 20% 26% 26% 6% 12% 10%
Which model of swaraj tractor do u have /had? 30% 25% Sale (%age) 20% 15% 10% 5% 0% 855FE 735FE 744FE 722FE 724FE 978FE M odels 20%
26%
26%
12% 6%
10%
3. For which purpose you use tractor? PURPOSES For Field Work For Transportation Rental & Hire Industrial Use Miscellaneous Share (%age) 84% 10% 3% 1% 2%
For which purpose you use tractor? 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 84%
10%
3%
hi re
1%
r ia lu se
2%
ce lla ne ou s M is
ra ns po r ta ti o n
w or k
R en ta la nd
ie ld
Fo rf
Fo rt
In du st
4.What is the reason of buying this brand? Better work production Better look and personality Better fuel consumption Re-sale value Already satisfied customers 40% 10% 14% 28% 8%
What is the reason of buying this brand? 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Better work production Better look and personality Better fuel Re-sale value consumption Already satisfied customers 14% 10% 8% 28% 40%
5. What was your prime concern? While choosing among the different brands of tractors? Price Fuel Efficiency Durability Brand Name Power If Any --------20% 8% 20% 40% 12% -----
What was your prime concern? While choosing among the different brands of tractors?
12%
40%
6. Are you satisfied with the price charged by the company for the same being compatible with the benefits provided by product? Satisfied Not satisfied No comments 72% 25% 3%
Are you satisfied with the price charged by the company for the same being compatible with the benefits provided by product?
7. Are you satisfied with the working/functioning of the same? Satisfied Not satisfied 88% 12%
12%
88%
8. Are you satisfied with after sales services? Satisfied Not satisfied 82% 18%
18%
82%
9. Do you have an easy access to spare parts division in your area? Yes No 85% 15%
Do you have an easy access to spare parts division in your area?
15%
Yes No
85%
10. Are you satisfied the fuel efficiency of tractors? Satisfied Not satisfied 82% 18%
Are you satisfied with after sales services?
18%
82%
11. What according to you is the competitive Advantage of swaraj tractors? Price Durability Quality Functioning 8% 10% 12% 70%
What according to you is the competitive Advantage of swaraj tractors 80% 70% Response (%age) 60% 50% 40% 30% 20% 10% 0% 8% 10% 12% 70%
Price
Durability Parameters
Quality
Fuctioning
12. Which brand of tractor according to you, could prove out to be threat for the existence of swaraj tractors? Eicher Sonalika Farmtrac New Holland Mahindra 7% 35% 4% 14% 40%
Which brand of tractor according to you, could prove out to be threat for the existence of swaraj tractors? 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 40% 35%
Responses (%age)
Eicher
CONCLUSION: The motto of my survey is to study the consumer behavior towards the various available tractors in a specified area. Most of the people I come across during my survey has Swaraj tractor. It has come to know that the Swaraj tractors share almost 80% of the total tractor market in the specified region. The two models i.e. 735FE and 744FE are the maximum shares of swaraj tractors. The 855FE, 724FE & 978FE models are less prefers amongst Swaraj tractor customers.
Swaraj tractor is too skilled tractor to fulfill many purposes. Basically it was found from survey a large bunch of tractors used for agriculture purpose while less than 20% of used for other purposes like transportation /industrial etc. In the modern era of highly sophisticated machines tractor customers willing to have tractors better work efficiency more over the today customers are more inclined towards the brand value as per on survey, swaraj is the prominent brand among tractors of its class. Unlike other tractors brand swaraj is famous for its better work production is famous its better work production as well as its re-sale value. As per the extensive survey performed it was found that swaraj tractors fulfill the requirement of post sale services & better availability, spare-parts as compare to its counterparts. Customer satisfaction is prime concern for any organization. It is conclude from the extensive survey that the swaraj tractor is the most preferred tractor from work efficiency to its resale value, from brand power to its post sale services. Swaraj tractor satisfies the needs of most of the tractor customers. SUMMARY: A tractor is a vehicle specifically designed to deliver a high tractive effort at slow speeds, for the purposes of hauling a trailer or machinery used in agriculture or construction. The word tractor was taken from Latin, being the agent noun of trahere "to pull". As per India concern India is mainly a agriculture country. The Indian tractor industry is largest in the world accounting for the one third of the global tractors production. A large nos. of the tractors with different brands is available in India. My survey was totally focused on the consumers perceptions towards the Punjab Tractors Ltd. (Swaraj). First of all we have collected the raw data from the tractors consumers in a specified area. By the data we come to know about the different brands available in the market in tractors s segments. After the data collection we performed the
extensive analysis taking into consideration the consumers behavior, their perceptions and satisfaction regarding different tractors brands. Basically it was found from the survey that a large no. of tractors are used for agriculture works while less than 20% of tractors used for other purposes like transportation /industrial etc. During survey we come to know the brands along with their models famous & best fit for the all purposes. We have processed the raw data into an organized form and further it was represented into an understandable visual graphics. Each graph elaborates the answer to each query of the survey. As observations yield from the survey the customers interest is more inclined towards the brand value, work efficiency, resale opportunities, post-sale services and availability of the spare-parts as compare to its counterparts. Sir/Madam, I am currently pursuing my Masters in Business Administration (MBA) in Cordia Institute of Business Management, Sanghol Distt. Fatehgarh sahib; part of my curriculum, I have been asked to conduct a market research to know the preferences and perceptions of various existing users of swaraj tractors. So kindly co-operate and help me in completing the study. Name: 1. Do you have swaraj tractor? Yes/No 2. Have you ever had swaraj tractor? Yes/No 3. Which model of swaraj tractor do u have /had? 855FE 735 FE 744FE 724FE 978FE 722FE
4. For which purpose you use tractor? For field work For transportation Rental and hire Industrial use Miscellaneous 5. What is the reason of buying this brand? Better work production Better look and personality Better fuel consumption Re-sale value Already satisfied customers
6. What was your prime concern? While choosing among the different brands of tractors? Price Fuel Efficiency Durability Brand Name Power If Any ---------
7. Are you satisfied with the price charged by the company for the same being compatible with the benefits provided by product? Satisfied Not satisfied
No comments 8. Are you satisfied with the working/functioning of the same? Satisfied Not satisfied
9. Are you satisfied with after sales services? Satisfied Not satisfied 10. Do you have an easy access to spare parts division in your area? Yes/No 11. Are you satisfied the fuel efficiency of tractors? Satisfied Not satisfied 12. What according to you is the competitive Advantage of swaraj tractors? Price Durability Quality Functioning 13. Which brand of tractor according to you, could prove out to be threat for the existence of swaraj tractors? Eicher Sonalika Farmtrac New Holland Mahindra
Signature of Respondent
Bibliography Referred sites: Bore (engine)-www.wikipedia.com About Indian tractor industry http://en.wikipedia.org/wiki/tractor http://www.allpar.com/eek/hp-vs-torque.html http://vettenet.org/torquehp.html http://www.indiacar.com Details of mahindras sharewww Mahindratractorworld.com www.123eng.com www.mapsofindia.com www.buzzle.com www.punjabtractorlimited.com