SIP PROJECT REPORT

ON

“ANALYSING & CAPITALIZING

BUSINESS OPPORTUNITY IN
VADODARA CITY”
POSTGRADUATE DIPLOMA IN MANAGEMENT

(Batch 2019-21)

Under the Supervision of

Dr. Rahul Singh

Submitted by

Akhil Kumar Thakur (PGMA1908)

 DECLARATION

I Akhil Kumar Thakur, Student of Jaipuria institute of Management Noida, hereby declare that
this project entitled “Analyzing and capitalizing business opportunity in Vadodara City ’is a
bonafide record of work done by me during the course of summer internship project work of
PGDM program and all contents and facts are prepared by me without any bias.

I also declare that it has not previously formed the basis for the award to me for any
degree\diploma associate ship, fellowship or any other similar title, of any Institutes.

Place: Vadodara
Date: 21 April 2020

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 PREFACE

A Project is a scientific and systematic study of real issues on a problem with the application of

management concept and skills. The study can deal with small or big issues in any division of an

organization .it can be Case study where a problem has been dealt with, through the process of

Management. The essential equipment of a project is that, it should contain scientific collection

of data, analysis and interpretation of data Leading to valid conclusion.

Summer Training is an essential part in PGDM curriculum .it enables the student to share real

experience in industry. My summer training has Placed in Whirlpool for the period of eight

weeks in Surat.

I underwent the project under the heading “Analyzing and Capitalizing business opportunity in

Vadodara City’’

This Project report tends to give a sharp picture of the market scenario of whirlpool and the

competition hurdles.

I hope, this study can be some of help the company for making the marketing strategy for

Whirlpool.

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 Acknowledgement

It gives me an immense pleasure for an opportunity to have an undergone my summer internship

in whirlpool. There is an always sense of gratitude which one express to other people for their
helpful and needy services they render during phases of life. I too would like to do the same as I
really wish to express my gratitude to all those people who have been helpful to me in getting
this project completed.

I take this opportunity to thank the management of Whirlpool for allowing us to be associated
with the organization and hence exposing me to its unique culture which has helped immensely
in enriching my knowledge and gaining a valuable insight into a practical aspects of customer
services and customer satisfaction. I am also grateful to Mr. Shiv Shambhu Ojha my Industry
Mentor and Dr.Rahuul Singh my Faculty Mentor, in Vadodara and entire staff of whirlpool who
had been extremely cooperative and helpful at every step throughout the project period.

I would also like to extent my heartiest thanks to the dealer of Vadodara who spent their precious
time in filling my questionnaire.

Akhil Kumar Thakur

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 TABLE OF CONTENT
CHAPTER PARTICULARS PAGE NO.
NO.
1 Executive Summary 7

2 Literature Review 9

3 Objective of the study 11

4 Whirlpool Corporation & 13-16

Whirlpool of India ltd.
History

5 Whirlpool of India ltd. 18-22

Performance

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 CHAPTER 1

EXECUTIVE SUMMARY

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 Executive Summary
Whirlpool Corporation is a global manufacturer and marketer of major home appliances. The
company manufactures in 13 countries and markets products in approximately 170 countries
under 11 major brand names such as Whirlpool, Maytag Kitchen Aid, Roper, Estate, Bauknecht,
Laden and Ignis. Whirlpool Corporation entered India in the late 80 is and today has grown to
become one of the leading manufacturers and marketers of major home appliances in India.
Whirlpool Corporation entered into a joint venture agreement with TVS group to produce
automatic washers at a plant set up in Pondicherry. A modest beginning was made to establish
the Whirlpool brand in India. In 1995 Whirlpool Corporation acquired Kelvinator of India
Limited and entered the Refrigerator market in India. In late 1995 majority ownership was
gained in the TVS joint venture and the two entities were merged to form Whirlpool of India
Limited in 1996. Whirlpool has the distinction of having ISO certification for all its facilities in
India. The refrigerator facility is located at Faridabad and manufactures a complete range of
direct cool refrigerators. With the infusion of technology, machinery and streamlining the
processes the capacity of this plant was increased from 700,000 to 1,000,000 annually.
Whirlpool is commitment to the Indian operation has resulted in the setting up of a state- of-the-
art facility for the manufacture of no frost refrigerators at Ranjangaon near Pune. This facility
has set the standards as one of the world’s front runners in environmentally sensitive eco-friendly
manufacturing units. The washer facility is located at Pondicherry and manufactures both fully
automatic and semi-automatic washers. Constant feedback is taken from the consumers resulting
in products being continuously upgrade in features and in styling.
Products manufactured in the above facilities match Whirlpools global standards and are
exported to over 70 countries across the globe. Whirlpool of India is today India’s largest
exporter of home appliance and has been approved as an Export House. Thus, in short, the
history.

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 CHAPTER 2
LITERATURE REVIEW

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 LITERATURE REVIEW
Competitive analysis
 Competitor analysis is an important part of firm’s development of its
strategy. Its importance lies in understanding of competitors, their strategy,
and resources and capabilities. More specifically competitive analysis also
allows a firm to access its own firm verses competitors and plan for what
competitor’s action may be as a reactive to action the firm may take.

 A competitor analysis provides a firm with the knowledge to leverage its

strength and address its weakness and, currently, take advantage of
competitors consist their strength. Finally, competitor analysis also gives a
firm a better understanding not only of the competitors but also their overall
sector and where the emerging opportunities may be.

 In the time of internship as working on the topic of competitive analysis, I

referred to various literatures as published on internet on consumer durables
while goods various consumer durables companies etc.

Consumer durables in India

 A combination of changing lifestyles, higher disposable income, greater
product awareness and affordable pricing has been internal in changing the
pattern and amount of consumer expenditure leading to robust growth of
consumer durables industry.

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 CHAPTER 3

OBJECTIVE OF THE STUDY

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 OBJECTIVE OF THE PROJECT

Primary Objective

 Find out the positional dealer who can sale the Whirlpool product in large
volume.
 The main objective of research was to identify potential dealer and
development these dealers. So, Whirlpool can make them their direct dealer
by doing market mapping.
 Find out the problem faced by dealer in sales and the distribution.
 Customer Analysis of Whirlpool
 To compare apple to apple pricing through product mapping.

Secondary Objective

 While purchasing the consumer durables which parameter is most important

for the consumer
 To enhance the knowledge of consumer durable market.
 To enhance the knowledge about the marketing and branding activity.
 The research project aims at finding the gaps between positioning strategies
converting them into gaining market share more than its competitors & also
the study of various factors that influence the strategy of whirlpool.

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 CHAPTER 4

WHIRLPOOL CORPORATION &

WHIRLPOOL OF INDIA LTD. –
COMPANY HISTORY

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 WHIRLPOOL CORPORATION – COMPANY HISTORY

Whirlpool Corporation was established in 1955, under the Law of Delaware. It is the world's
leading home appliance firm. In almost all countries worldwide, Whirlpool manufactures goods
in 13 countries and sells products. The organization is known internationally for its role in
multiple fields such as sustainability, diversity, creative product design, corporate practices,
social transparency, and civic participation. The Organization manages our business through four
market segments that are geographically specified. The business and marketing divisions of
Whirlpool Company are North America, Asia, the Middle East, Africa ("EMEA"). Whirlpool's
total revenue rose to around $20 billion and in 2019 to about 77,000 employees. When
mentioned herein, "Whirlpool," "the business," "us," "us," and "our" apply to the Whirlpool
Company and its combined entities except where the meaning otherwise needs. The world's most
powerful argument for home appliances is focused on the new officially announced average sales
from large product producers.

Majorly they deal in the following products:

 Laundry Appliances
 Refrigerator
 Cooking Appliances
 Dishwashing and others

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 WHIRLPOOL OF INDIA LTD. (WHIRLPOOL) - COMPANY HISTORY

Whirlpool of India Ltd is a big producer and marketer for home appliances in the country with its
head office in Gurugram. The company primarily produces and deals in Microwave Ovens and
small appliances and services the domestic and foreign markets for washing machines and
refrigeration. The business also supports Whirlpool Corporation USA and other community
organizations with expertise in product creation and acquisition expertise. Whirlpool of India is a
whirlpool company, the leading global manufacturer of appliances. Three state-of - the-art factories
in Faridabad, Puducherry and Pune have been built in Whirlpool in India. Around the year 1960,
Whirlpool of India Ltd became the Indian Kelvinator. In partnership with Kelvinator International
Corporation USA, the company was founded to produce refrigerators and related goods. In 1974, in
collaboration with Thermal Refrigeration Ltd UK, a manufacturing plant for electric grades was
built. In 1985 the business entered a partnership for the manufacture of washing machines with
White Consolidates Industries Inc USA. A 2-door cooler for the lower- and middle-class customers
was installed in 1986. in the same year. In 1993, the firm entered a tie-up with Whirlpool Firm
USA, in which Whirlpool agreed to purchase a new 310-liter refrigerator from White Consolidated
Industries Inc USA. Whirlpool Washing Machines Ltd combined in 1996 with Kelvinator India Ltd
and changed its name to Whirlpool, India Ltd. In 1996 Whirlpool Washing Machines Ltd. A fully
automated washing machine and a 3.5 kg twin-tub system are launched by Pondicherry's washer
under the whirlpool name. A 2-door cooler for the lower- and middle-class customers was installed
in 1986. in the same year. In 1993, the firm entered a tie-up with Whirlpool Firm USA, in which

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Whirlpool agreed to purchase a new 310-liter refrigerator from White Consolidated Industries Inc
USA. Whirlpool Washing Machines Ltd combined in 1996 with Kelvinator India Ltd and changed
its name to Whirlpool, India Ltd. In 1996 Whirlpool Washing Machines Ltd. A fully automated
washing machine and a 3.5 kg twin-tub system are launched by Pondicherry's washer under the
whirlpool name. The company converted a part of the Pondicherry facility into an Export Oriented
Unit to maximize the benefits and promote further exports. In December 2003 they launched a new
range of Fully Automatic Washing Machines. In May 2004, the company launched new
refrigerators in the 'ice magic frost-free range'. They entered a distribution tie up with Faber India
during the year. They also launched new Iceberg refrigerators during the year. During the year
2006-07 the company launched two new refrigerators Whirlpool Delight in low capacity Frost Free
and Fusion in high capacity Direct Cool. In April 2006, the company launched a Washing Machine
- Splash which is Fully Automatic Top Load. Sparkle and Verve were introduced in the semi-
automated and complete automated front loads market in September 2006. Moreover, during the
year they launched a microwave. In 2007-2008, the firm launched sixth-sense technology Jacuzzi
Microwave Ovens. They launched Whirlpool Purafresh in January 2008 across the world to several
water purifiers. A new line of completely automatic top load and forward load washing machines
including high-performance versions under White Magic and Skilled labels was introduced in June
2009. Also, a' plastic frame ' laundry machine expanded the semi-automatic ranges. Whirlpool,
India revealed on 14 January 2010 that it was launching a new collection in India with ambitious
expansion ambitions in the AC segment. The business introduced 30 new goods in Mastermind
Chrome and Mastermind Aviator, two sub brands. The latest collection, which includes many
exclusive and luxurious functions, would improve the Jacuzzi group. As part of the Jet Chef and
Family Chef Range, Jirlpool introduced six new convection convection styles Microwave Ovens
(MWO). A set of new semi-automatic washers–' Whirlpool ACE Wash Station' –is introduced by
Whirlpool from China on 12 November 2010. Whirlpool of India, in the presence of its brand
ambassador Kajol, unveiled an ambitious Indian business expansion strategy on 22 March 2012 as
it introduced its latest items in six sections–refrigeration systems, air conditioning systems for
washing machines, microwave water purifiers and built-in kitchen appliances. The latest brand
stretches Whirlpool to a broad variety of markets, and the introduction of affordable and high-
premium items is an example of the success of developing Asian countries. On. On. On. On.
Whirlpool of India released its latest line of dual-door refrigerators from NeoFresh with

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groundbreaking 6th Sense Intellifresh technology on 5 July 2016. In the 6th Sense Intellifresh
technology and 3 intellisensor systems, the internal load and external temperature are sensed to
adjust the temperature inside automatically for long-term freshness. Introducing an exclusive
collection of dishwashers on 11 April 2018, Whirlpool India. On September 10, 2018 Whirlpool of
India announced the acquisition of 49% of Elica PB India Private Limited's issued and paid-up
share capital. Whirlpool will hold 49percent of Elica PB India Private Limited's shareholdings in
this transaction.

Vision
Every Home« Everywhere« with Pride, Passion and Performance
Mission
Everyone, Passionately Creating Loyal Customers for Life
Values
Whirlpools values are constant and define the way that all Whirlpool Corporation employees are
expected to behave and conduct business everywhere in the world.
Respect We must trust one another as individuals and value the capabilities and contributions of
each person.
Integrity We must conduct all aspects of business honorably ± ever mindful of the longtime
Whirlpool Corporation belief that there is no right way to do a wrong thing.
Diversity and Inclusion, we must maintain the broad diversity of Whirlpool people and ideas.
Diversity honors differences, while inclusion allows everyone to contribute. Together, we create
value.
Teamwork We must recognize that pride results in working together to unleash everyone’s
potential, achieving exceptional results.
Spirit of Winning We must promote a Whirlpool culture that enables individuals and teams to
reach and take pride in extraordinary results and further inspire the "Spirit of Winning" in all of
us.
CORPORATE INFORMATION

BORAD OF DIRECTORS:

Mr. Arvind Uppal Chairman & Non-Executive Director

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Mr. Vishal Bhola Managing Director

Mr. Anil Berera Executive Director

Mr. AHBN Reddy Executive Director

Ms. Sonu Halan Bhasin Independent Director

Mr. Rahul Bhatnagar Independent Director*

Mr. Pradeep Banerjee Independent Director*

CHAPTER 5

WHIRLPOOL OF INDIA LTD.

PERFORMANCE

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 PERFORMANCE OF THE COMPANY

Whirlpool is the only company with sales growth over the last five years, despite a decline in the
consumer durables sector. High revenue growth was guided by domestic and external factors in the
sector. Overall sustained market development has been guided by solid macroeconomic indicators.
Furthermore, the organization continuously concentrated on corporate development, growth of
platforms and implementation of sales added to their success. With a 11.7% increase in operating
income (net excise duty) and 15.8% increase in earnings before taxes versus last year, the
company's operating income was highly encouraging. With the upgrade of systems and processes,
the Group has quickly and comfortably moved to the new GST tax regime. Also, zero debt is the
very important factor for the growth as it has reduced the burden of cost by up to 50%.

Whirlpool of India.          
Standalone Balance Sheet ------------------- in Rs. Cr. -------------------
  Mar 19 Mar-18 Mar-17 Mar-16 Mar-15
EQUITIES AND LIABILITIES 12 mths 12 mths 12 mths 12 mths 12 mths
SHAREHOLDER'S FUNDS          
Equity Share Capital          
Total Share Capital 126.87 126.87 126.87 126.87 126.87
Revaluation Reserves 126.87 126.87 126.87 126.87 126.87
Reserves and Surplus 0 0 0 0 13.07
Total Reserves and Surplus 2,015.80 1,669.47 1,356.19 1,038.83 775.84
Total Shareholders’ Funds 2,015.80 1,669.47 1,356.19 1,038.83 788.91
NON-CURRENT LIABILITIES 2,142.67 1,796.34 1,483.06 1,165.70 915.78

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Deferred Tax Liabilities [Net]          
Other Long-Term Liabilities 0 0 0 2.95 2.44
Long Term Provisions 12.54 12.66 13.73 14.24 8.47
Total Non-Current Liabilities 186.36 150.99 125.43 78.25 68.4
CURRENT LIABILITIES 198.9 163.65 139.16 95.44 79.32
Trade Payables          
Other Current Liabilities 1,236.22 1,152.98 1,120.80 952.31 719.41
Short Term Provisions 97.74 83.46 107.53 7.7 90.1
Total Current Liabilities 33.51 29.38 25.58 30.09 44.32
Total Capital and Liabilities 1,367.47 1,265.82 1,253.91 990.1 853.84
ASSETS 3,709.04 3,225.81 2,876.13 2,251.24 1,848.93
NON-CURRENT ASSETS          
Tangible Assets          
Intangible Assets 503.19 439.41 391.96 359.98 382.46
Capital Work-In-Progress 5.02 6.51 5.85 6.22 0.23
Fixed Assets 43.33 33.05 29.54 36.67 13.2
Non-Current Investments 551.54 478.97 427.35 402.87 395.89
Deferred Tax Assets [Net] 518 456.32 129.68 0 0
Long Term Loans and Advances 34.4 27.9 15.92 0 0
Other Non-Current Assets 18.15 17.03 12.85 14.76 46.05
Total Non-Current Assets 123.24 97.23 57.09 37.79 5.03
CURRENT ASSETS 1,245.33 1,077.45 642.89 455.42 446.97
Current Investments          
Inventories 138.33 0 0 0 0
Trade Receivables 888.6 810.12 888.76 683.52 659.01
Cash and Cash Equivalents 255.62 240.31 204.86 192.63 155.07
Short Term Loans and Advances 1,061.00 981.85 1,058.95 856.3 535.68
Other Current Assets 2.63 2.02 3.42 1.31 47.98
Total Current Assets 117.53 114.06 77.25 62.06 4.23
Total Assets 2,463.71 2,148.36 2,233.24 1,795.82 1,401.96
OTHER ADDITIONAL
3,709.04 3,225.81 2,876.13 2,251.24 1,848.93
INFORMATION
CONTINGENT LIABILITIES,
         
COMMITMENTS
Contingent Liabilities          
CIF VALUE OF IMPORTS 1,490.44 1,465.61 1,720.85 1,060.59 286.93
Raw Materials          
Stores, Spares and Loose Tools 1,219.37 1,157.31 0 0 585.61
Trade/Other Goods 0 0 0 0 10.58
Capital Goods 0 0 0 0 99.3
EXPENDITURE IN FOREIGN
0 0 0 0 51.33
EXCHANGE
Expenditure in Foreign Currency          

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REMITTANCES IN FOREIGN
84.09 74.7 0 0 56.56
CURRENCIES FOR DIVIDENDS
Dividend Remittance in Foreign
         
Currency
EARNINGS IN FOREIGN
- - - - -
EXCHANGE
FOB Value of Goods          
Other Earnings 313.19 288.48 - - 111.65
BONUS DETAILS - - - - 108.4
Bonus Equity Share Capital        
NON-CURRENT INVESTMENTS 10.8 10.8 10.8 10.8 10.8
Non-Current Investments Quoted Market Value        
Non-Current Investments Unquoted
- - - - -
Book Value
CURRENT INVESTMENTS 656.33 456.32 129.68 - -
Current Investments Quoted Market Value        
Current Investments Unquoted Book
- - - - -
Value
- - - - -

Standalone Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar 19 Mar-18 Mar-17 Mar-16 Mar-15

12 mths 12 mths 12 mths 12 mths 12 mths

INCOME        
Revenue from Operations
5,385.28 4,959.40 4,358.39 3,805.99 3,576.14
[Gross]
Less: Excise/Service Tax/Other
0 153.92 419.61 367.7 283.98
Levies
Revenue from Operations [Net] 5,385.28 4,805.48 3,938.78 3,438.29 3,292.16
Other Operating Revenues 12.37 26.43 1.99 1.65 1.62
Total Operating Revenues 5,397.65 4,831.91 3,940.77 3,439.94 3,293.78
Other Income 104.7 86.72 72.99 55.33 38
Total Revenue 5,502.35 4,918.63 4,013.76 3,495.27 3,331.78
EXPENSES        
Cost of Materials Consumed 2,969.70 2,225.51 1,889.87 1,620.03 1,622.97
Purchase of Stock-In Trade 464.58 657.97 616.26 447.59 448.51
Changes in Inventories Of FG, WIP -59.75 115.29 -196 -31.12 -100.22

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And Stock-In Trade
Employee Benefit Expenses 493.05 455.25 411.63 382.66 315.26
Finance Costs 9.09 4.39 5.89 5.18 0.64
Depreciation and Amortisation
111.31 101.51 87.46 76.93 68.13
Expenses
Other Expenses 887.9 817.89 730.17 637.25 675.96
Total Expenses 4,875.88 4,377.81 3,545.28 3,138.52 3,031.26

Profit/Loss Before Exceptional, 626.47 540.82 468.48 356.75 300.52

Extraordinary Items and Tax
Exceptional Items 0 0 0 -0.8 0
Profit/Loss Before Tax 626.47 540.82 468.48 355.95 300.52
Tax Expenses-Continued Operations        
Current Tax 223.2 199.54 171.64 122.86 91
Deferred Tax -3.72 -10.48 -17.59 -5.6 -0.98
Tax for Earlier Years -0.06 1.09 3.94 -1.33 0
Total Tax Expenses 219.42 190.15 157.99 115.93 90.01
Profit/Loss After Tax and Before
407.05 350.67 310.49 240.02 210.51
Extraordinary Items
Profit/Loss from Continuing
407.05 350.67 310.49 240.02 210.51
Operations
Profit/Loss for The Period 407.05 350.67 310.49 240.02 210.51

       
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE        
Basic EPS (Rs.) 32.08 27.64 24.47 18.92 16.59
Diluted EPS (Rs.) 32.08 27.64 24.47 18.92 16.59
VALUE OF IMPORTED AND
       
INDIGENIOUS RAW MATERIALS
Imported Raw Materials 0 0 0 0 537.09
Indigenous Raw Materials 0 0 0 0 1,085.88
STORES, SPARES AND LOOSE TOOLS        
Imported Stores and Spares 0 0 0 0 0.06
Indigenous Stores and Spares 0 0 0 0 3.35
DIVIDEND AND DIVIDEND
       
PERCENTAGE
Equity Share Dividend 50.76 38.07 0 0 0
Tax on Dividend 10.43 7.75 0 0 0
Equity Dividend Rate (%) 50 40 30 0 0

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