COMPANY REPORT ON

WABCO INDIA COMPANY

Submitted by:
KUNAL GAHLOT
A3104619220
B.com Hons. Class of 2020

Under the guidance of:

Dr. Vidhi Tyagi
ACCF

A report submitted in the partial fulfillment of the degree of bachelors in commerce

At
Amity college of commerce and finance, Amity University
Sector 125, Noida 201303, Uttar Pradesh
 DECLARATION

I Kunal Gahlot , student of Amity college of Commerce and Finance , hereby declare that I
have completed this company report on “WABCO India ltd.”for the partial fulfillment of
Bachelor of Commerce (Honours) and the information submitted is true to the best of my
knowledge and belief.
The work presented for assessment in this report is my original work, that has not previously
been presented for any other assessment.

Date: …………………..
KUNAL GAHLOT
A310461922
0

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 CERTIFICATE

This is to certify that the company report on “WABCO India Ltd.” Completed and submitted
to Amity University, Noida by Kunal Gahlot in partial fulfillment of the provision and
requirement for the award degree of Bachelor In Commerce (Honours), 2019-2022 is a bona
fide work carried by the student under my guidance and supervision.

To the best of my knowledge and belief the work has been based on investigation made, data
collected and analyzed by the student and this report has been checked and it is acceptable.

……………………
Dr. Vidhi Tyagi
ACCF
Amity College of Commerce and Finance

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 ACKNOWLEDGEMENT

Words often fail to express one’s inner feelings of gratitude and indebtedness to one’s
benefactors, but then it is only readily available medium through which the one can express
one’s sincere thanks to all those who are associated with the work in one way or the other.

I am greatly thankful to Dr. Vidhi Tyagi , whose constant guidance and encouragement
served as a beckon of light and crowned my efforts with success. She is the biggest driving
force behind my successful completion of the project. She has always been there to solve any
query of mine, without her help and inspiration, I would not have been able to complete my
project. I would also like to thank my batch mates who guided me, helped me and gave ideas
and motivation at each step.

………………………
Kunal Gahlot

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 APPENDIX
Serial No. Particulars Page No.
1 Preface 2-4
 Introduction
 Products
 Market
2 About WABCO 5
 Global Market
Scenario
3 Current Situation 6-11
 Valuation
 Financial Analysis
 Financial Summary
 WABCO PEERS
4 Methodology 12
5 Theoretical Framework 13-21
6 Company Description 22-23
7 Journey of Innovation 24-25
8 Qualitative Approach 26-27
 Fundamental
Analysis
9 WABCO INDIA : Safety 28-30
through innovation
10 Awards & Recognition 31-35
11 Competitive Analysis 36
12 WABCO LTD. 37-44
MILESTONES &
Management Practices
13 Conclusion 45
14 References 46

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 PREFACE

Critical analysis of an Organization is a process through which the analysis of an organization

is done by tools and techniques, analytical frameworks to understand and know the Vision
and Mission of the organization, and the process of management that is visible in the
company, the growth prospects, the market size, the customer profile, the competitive
position and financial performance.

This is done by observing of annual reports of Indian companies, to measure the respective
performance of an organization. This also helps to understand the areas of deficiency and
how the company needs to work hard to achieve and improve the respective areas to gain a
competitive advantage and sustain in the market.

INTRODUCTION AND BACKGROUND OF THE COMPANY

WABCO INDIA designs, manufactures and markets conventional braking products,

advanced braking systems, and other related air assisted products and systems. The company
has grown significantly in the Indian commercial vehicle market and also serves its
aftermarket customers through a wide national distribution network.

With five world-class manufacturing facilities spread across India, Application Engineering
Centre in Pune, technology centre and a vehicle testing facility in Chennai, WABCO INDIA
excels in engineering and manufacturing, serving customers locally and through WABCO
internationally. WABCO INDIA LIMITED has over 4400 employees and reported Rs.
2854 crores in sales in FY 2018-19.

PRODUCTS

1. Conventional Products
2. Advanced Braking Systems
3. Air Suspension
4. Driveline Control

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MARKETS

WABCO India Limited is a leading supplier of technologies and services that improve the
safety, efficiency and connectivity of commercial vehicles in India. Powered by its vision
for accident-free driving and greener transportation solutions, WABCO India excels in
pioneering breakthrough innovations that bring industry-leading solutions to the
commercial vehicle industry in India and worldwide.

The company is a world-class manufacturer and local market leader in advanced braking
systems, conventional braking products and related air assisted technologies and systems.
WABCO India operates five manufacturing facilities across India, an advanced
technology development center, a vehicle testing facility and a nation-wide aftermarket
distribution and services network. Headquartered in Chennai, WABCO India is committed
to the long-term success of its customers by leveraging WABCO’s powerful global
technology portfolio. WABCO India reported sales of Rs. 2854  crores in FY 2018-19.

WABCO Holdings Inc. (NYSE:WBC) (www.wabco-auto.com), a leading global supplier of

technologies and services that improve the safety, efficiency and connectivity of commercial
vehicles, today announced that WABCO INDIA Limited has been honored with the 2016
Total Productive Maintenance (TPM) Excellence Award from the Japan Institute of Plant
Maintenance (JIPM ).

WABCO INDIA received the prestigious TPM Excellence Award for its Mahindra World
City lean manufacturing facility in Chennai, India. WABCO INDIA's Mahindra World City
plant, which produces advanced braking and innovative control technologies, is also a world-
class export hub serving major commercial vehicle manufacturers and passenger car makers
globally.

Established in 1964 by the Japan Institute of Plant Maintenance, the TPM Excellence Award
rigorously evaluates a company-wide commitment to sustain superlative production
capabilities and world-class quality standards. The award has been instrumental in
strengthening the improvement of enterprises and contributing to the development of industry
by promoting the modernization of plant maintenance and the development of plant
maintenance technologies.

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"This industry-leading recognition of WABCO INDIA's capabilities is a powerful testament
of the differentiation and maturity of WABCO's global infrastructure," said Jacques Esculier,
WABCO Chairman and Chief Executive Officer. "In India, where we fully leverage five
world-class factories, WABCO produces frugally-engineered, high-quality and cost-effective
technologies to meet local customers' requirements and to export to commercial vehicle
manufacturers in the Americas, Europe and Asia."

"This recognition is an extremely proud moment for all of us at WABCO INDIA particularly
as a world-renowned independent expert organization such as JIPM has certified that we have
attained a benchmark standard for most effective production systems," said P. Kaniappan,
Vice President, WABCO INDIA. "At WABCO INDIA we leverage TPM to continuously
improve our productivity, product quality, cost effectiveness and work culture, which sustains
WABCO INDIA as a Center of Excellence."

WABCO INDIA's manufacturing sites in Ambattur, Jamshedpur, Mahindra World City,

Pantnagar and Lucknow collectively possess an extensive track record of industry and
customer awards for various parameters of manufacturing excellence and total quality
management.

Previously, WABCO INDIA's factory in Ambattur won the TPM Excellence Award from the
Japan Institute of Plant Maintenance. WABCO INDIA has also been recognized as a global
benchmark for implementing lean manufacturing, according to the Lean Enterprise Institute.
Other multiple platinum and gold honors have been granted by the Automotive Component
Manufacturers Association of India.

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GLOBAL MARKET SENARIO

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 CURRENT SITUATON OF THE COMPANY AS ON DATE 2019

VALUATION

WABCO India Ltd. | BSE 6124.95  10.50 (0.17%) | NSE 6105.00  10.50 (0.17%) 

Today’s Change : 3.25 (-0.05%)
Volume: 904
Opening Price: 6110.00
Close Price: 6108.25

 Bid Value : 6100.00(10)

 Mkt Cap (₹ Cr.): 11579.71
 P/E (x)44.17
 P/B (x)6.51
 Div_ Yield (%): 0.15
 BETA: 0.44
 Offer: 6104.95(6)
 Face Value (₹): 5
 EPS-TTM (Rs.): 138.22
 BV/share (₹): 938.43
 Avg. Daily Volatility %: 1.54

18 September 2019 Trend line for the day

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 FINANCIAL

INCOME STATEMENT

FINANCIAL RATIO OF WABCO INDIA LTD.

Parameter MAR 19  MAR 18  YoY %Change

Operational & Financial Ratios

   Earnings Per Share (Rs) 148.76 143.84 3.42

   CEPS(Rs) 186.43 176.39 5.69

   DPS(Rs) 9.00 8.00 12.50

   Book NAV/Share(Rs) 938.43 800.35 17.25

   Tax Rate(%) 31.33 28.54 9.78

Margin Ratios

   Core EBITDA Margin(%) 14.36 15.25 -5.83

   EBIT Margin(%) 14.40 14.67 -1.85

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 Parameter MAR 19  MAR 18  YoY %Change

   Pre Tax Margin(%) 14.40 14.61 -1.43

   PAT Margin (%) 9.89 10.44 -5.28

   Cash Profit Margin (%) 12.39 12.80 -3.21

Performance Ratios

   ROA(%) 12.53 13.97 -10.29

   ROE(%) 17.11 19.63 -12.82

   ROCE(%) 24.86 27.46 -9.47

   Asset Turnover(x) 1.27 1.34 -5.29

   Sales/Fixed Asset(x) 4.68 5.39 -13.25

   Working Capital/Sales(x) 2.30 2.46 -6.61

Efficiency Ratios

   Fixed Capital/Sales(x) 0.21 0.19 15.27

   Receivable days 82.00 81.43 0.69

   Inventory Days 18.12 19.39 -6.54

   Payable days 70.54 74.17 -4.90

Valuation Parameters

   PER(x) 44.80 54.91 -18.40

   PCE(x) 35.75 44.77 -20.15

   Price/Book(x) 7.10 9.87 -28.03

   Yield(%) 0.14 0.10 33.31

   EV/Net Sales(x) 4.24 5.68 -25.45

   EV/Core EBITDA(x) 25.07 32.85 -23.69

   EV/EBIT(x) 29.43 38.14 -22.85

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 Parameter MAR 19  MAR 18  YoY %Change

   EV/CE(x) 5.18 6.74 -23.17

   M Cap / Sales 4.43 5.82 -23.91

Growth Ratio

   Net Sales Growth(%) 10.91 24.47 -55.40

   Core EBITDA Growth(%) 8.36 22.78 -63.30

   EBIT Growth(%) 7.18 27.41 -73.82

   PAT Growth(%) 3.42 27.80 -87.68

   EPS Growth(%) 3.42 27.80 -87.68

Financial Stability Ratios

   Total Debt/Equity(x) 0.00 0.00 0.00

   Current Ratio(x) 3.39 2.74 24.09

   Quick Ratio(x) 3.10 2.52 23.19

   Interest Cover(x) 237.05

   Total Debt/Mcap(x) 0.00 0.00 0.00

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 WABCO INDIA LTD FINANCIAL SUMMARY

Parameter MAR 19 (`Mn.) MAR 18 (`Mn.) YoY %Change

Balance Sheet :

Share Capital 94.84 94.84 0.00

Total Non-Current Liabilities 351.44 303.43 15.82

Total Current Liabilities 5192.03 6127.08 -15.26

Total Liabilities 23343.24 21689.40 7.63

Total Non-Current Assets 5719.66 4929.61 16.03

Currents Investments 3134.28 4456.50 -29.67

Cash and Bank 5496.55 3560.78 54.36

Total Current Assets 17623.58 16759.79 5.15

Total Assets 23343.24 21689.40 7.63

Profit & Loss :

Gross Sales 28541.40 26138.50 9.19

Net Sales 28541.40 25733.30 10.91

Total Expenditure 24442.60 21747.20 12.39

Operating Profit 4823.50 4451.40 8.36

Profit After Tax 2821.70 2728.30 3.42

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 WABCO INDIA LTD. PEERS

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 METHODOLOGY

 Choice of study- The choice of study means what are the parameters or areas that we
have selected to analysis the company to see how well or effective the company is
performing. Through these parameters we can obtain a brief idea about the company and take
critical business decisions related to the company and its working.
 Data Collection- The collection of data related to the company is mainly done
through reading of annual reports of previous years, and analysing of balance sheet as the
balance sheet gives a clear cut picture about the entire performance for a fixed year period.
 Procedure- Done through basically reading annual reports and case analysis of
company and the key points related to any company is observed and decisions are taken on
the basis of certain parameters. The procedure can be different, depending on what are the
analysis points that we have taken into consideration.

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 THEORETICAL FRAMEWORK

SWOT Analysis of WABCO INDIA LTD.

STRENGTH

 Highly skilled workforce through successful training and learning programs. WABCO
INDIA LTD. is investing huge resources in training and development of its employees
resulting in a workforce that is not only highly skilled but also motivated to achieve more.
 Strong distribution network – Over the years WABCO INDIA LTD.has built a reliable
distribution network that can reach majority of its potential market.
 Highly successful at Go To Market strategies for its products.
 Reliable suppliers – It has a strong base of reliable supplier of raw material thus enabling
the company to overcome any supply chain bottlenecks.
 Successful track record of integrating complimentary firms through mergers &
acquisition. It has successfully integrated number of technology companies in the past
few years to streamline its operations and to build a reliable supply chain.
 High level of customer satisfaction – the company with its dedicated customer
relationship management department has able to achieve a high level of customer
satisfaction among present customers and good brand equity among the potential
customers.
 Superb Performance in New Markets – WABCO INDIA LTD. has built expertise at
entering new markets and making success of them. The expansion has helped the
organization to build new revenue stream and diversify the economic cycle risk in the
markets it operates in.
 Strong Free Cash Flow – WABCO INDIA LTD. has strong free cash flows that provide
resources in the hand of the company to expand into new projects.

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WEAKNESS

 Limited success outside core business – Even though WABCO INDIA LTD. is one of the
leading organizations in its industry it has faced challenges in moving to other product
segments with its present culture.
 High attrition rate in work force – compare to other organizations in the industry
WABCO INDIA LTD. has a higher attrition rate and have to spend a lot more compare to
its competitors on training and development of its employees.
 The marketing of the products left a lot to be desired. Even though the product is a
success in terms of sale but its positioning and unique selling proposition is not clearly
defined which can lead to the attacks in this segment from the competitors.
 Days inventory is high compare to the competitors – making the company raise more
capital to invest in the channel. This can impact the long term growth of WABCO INDIA
LTD.
 Not highly successful at integrating firms with different work culture. As mentioned
earlier even though WABCO INDIA LTD. is successful at integrating small companies it
has its share of failure to merge firms that have different work culture.

OPPORTUNITIES

 Opening up of new markets because of government agreement – the adoption of new

technology standard and government free trade agreement has provided WABCO INDIA
LTD. an opportunity to enter a new emerging market.
 New customers from online channel – Over the past few years the company has invested
vast sum of money into the online platform. This investment has opened new sales
channel for WABCO INDIA LTD. In the next few years the company can leverage this
opportunity by knowing its customer better and serving their needs using big data
analytics.
 Government green drive also opens an opportunity for procurement of WABCO INDIA
LTD. products by the state as well as federal government contractors.
 The market development will lead to dilution of competitor’s advantage and enable
WABCO Holdings Inc. to increase its competitiveness compare to the other competitors.

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 Economic uptick and increase in customer spending, after years of recession and slow
growth rate in the industry, is an opportunity for WABCO INDIA LTD. to capture new
customers and increase its market share.
 Decreasing cost of transportation because of lower shipping prices can also bring down
the cost of WABCO INDIA LTD. products thus providing an opportunity to the company
- either to boost its profitability or pass on the benefits to the customers to gain market
share.
 Lower inflation rate – The low inflation rate bring more stability in the market, enable
credit at lower interest rate to the customers of WABCO INDIA LTD.
 Stable free cash flow provides opportunities to invest in adjacent product segments. With
more cash in bank the company can invest in new technologies as well as in new products
segments. This should open a window of opportunity for WABCO INDIA LTD. in other
product categories.

THREATS

 Liability laws in different countries are different and WABCO INDIA LTD. may be
exposed to various liability claims given change in policies in those markets.
 Increasing trend toward isolationism in the American economy can lead to similar
reaction from other government thus negatively impacting the international sales.
 Intense competition – Stable profitability has increased the number of players in the
industry over last two years which has put downward pressure on not only profitability
but also on overall sales.
 The company can face lawsuits in various markets given - different laws and continuous
fluctuations regarding product standards in those markets.

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 Porter 5 Forces

Threats of New Entrants

New entrants in Auto Parts brings innovation, new ways of doing things and put pressure on
WABCO INDIA LTD. through lower pricing strategy, reducing  costs, and providing new
value propositions to the customers. WABCO INDIA LTD. has to manage all these
challenges and build effective barriers to safeguard its competitive edge.

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Bargaining Power of Suppliers
All most all the companies in the Auto Parts industry buy their raw material from numerous
suppliers. Suppliers in dominant position can decrease the margins WABCO INDIA LTD.
can earn in the market. Powerful suppliers in Consumer Goods sector use their negotiating
power to extract higher prices from the firms in Auto Parts field. The overall impact of higher
supplier bargaining power is that it lowers the overall profitability of Auto Parts.

Bargaining Power of Buyers

Buyers are often a demanding lot. They want to buy the best offerings available by paying the
minimum price as possible. This put pressure on WABCO INDIA LTD. profitability in the long
run. The smaller and more powerful the customer base is of WABCO INDIA LTD. the
higher the bargaining power of the customers and higher their ability to seek increasing
discounts and offers.

Threats of Substitute Products or Services

When a new product or service meets a similar customer needs in different ways, industry
profitability suffers. For example services like Dropbox and Google Drive are substitute to
storage hardware drives. The threat of a substitute product or service is high if it offers a
value proposition that is uniquely different from present offerings of the industry.

Rivalry among the Existing Competitors

If the rivalry among the existing players in an industry is intense then it will drive down
prices and decrease the overall profitability of the industry. WABCO INDIA LTD. operates
in a very competitive Auto Parts industry. This competition does take toll on the overall long
term profitability of the organization.

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Company Competitive Advantage in the Marketing Strategy
of WABCO Holdings

The WABCO INDIA LIMITED can apply Porter's generic strategies model to explore
how competitive advantage can be created. The pictorial presentation of the Porter
Model is given below:

1. Cost based competitive advantage

 The cost leadership strategy will suit if WABCO LIMITED has developed capabilities to
reduce the cost below the industry average and achieve the economies of scale. Moreover,
it will require WABCO LIMITED to develop close collaboration between different
functional areas.
 Developing most effective distribution channels, access to latest technological tools to
assist production processes, using lean production methods and strong bargaining position

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 when negotiating with suppliers are some indicators of setting competitive advantage
based on cost leadership.

2. Differentiation based competitive advantage

The differentiation strategy focuses on developing brand loyalty by offering premium
products. The company can find different ways to develop differentiation leadership, such as-
by focusing on the reliability, durability, benefits and distinctive features of products, by
developing strong brand recognition and by increasing expenditure on marketing efforts like
celebrity endorsements and sponsorships etc. WABCO LIMITED can set achieve
competitive advantage by adopting product, service, quality, image, people or innovation
differentiation.

3. Competitive advantage model

Following the model shows how WABCO LIMITED can develop an effective Marketing
Strategy by evaluating its resources and capabilities, identifying distinctive competencies and
leveraging those competencies by adopting either cost or differentiation orientation:

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BCG Matrix in the Marketing Strategy of WABCO
Holdings
WABCO LIMITED should continuously evaluate its product line by assessing their growth
potential and share in the market. The products can be classified into the following
categories:

 The products with high growth and high market share are classified as stars.
WABCO LIMITED should increase the investment after identifying the stars in
its product lines.
 Products with high market growth but low share are classified as question
marks. WABCO LIMITED should analyse why market share is low despite the
high growth rate.
 Products with low growth but high market share are cash cows that need to
be milked for continuous good performance in the market with low growth and
limited opportunities.
 Lastly, products with low growth and low market share are dogs’ WABCO
LIMITED should divest as it is difficult to make profits and get an adequate
return by investing in dogs.

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The high number of stars and cash cows will indicate good performance, whereas, a
high number of question marks and dogs will be a cause of concern for WABCO
LIMITED. The product classification is necessary for evaluating the success of the
Marketing Strategy of WABCO LIMITED.

Cost structure analysis for developing Marketing Strategy

of WABCO Holdings
WABCO Holdings can use Porter’s value chain model (as given below) to determine the
industry’s cost structure.

It will help WABCO LIMITED in isolating the costs and identifying critical success factors.
WABCO LIMITED can also use the information obtained from cost structure analysis to
develop cost advantage.

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COMPANY DESCRIPTION

 History of the Company

WABCO India Ltd (Formerly known as WABCO-TVS India Ltd) is a leading supplier of
technologies and services that improve the safety efficiency and connectivity of commercial
vehicles in India. The company designs manufactures and markets conventional braking
products advanced braking systems and other related air assisted products and systems. Its
customers include Ashok Leyland Tata Motors Vehicle Factory (Jabalpur) Bharat
Earthmovers Tafe Volvo Sutlej Caterpillar Eicher Motors Swaraj Mazda Force Motors
Mahindra & Mahindra Tata Cummins (Engines). WABCO India operates five manufacturing
facilities across India an advanced technology development center a vehicle testing facility
and a nation-wide aftermarket distribution and services network. WABCO India is a
subsidiary of WABCO Holdings Inc. USA a leading global supplier of technologies and
services that improve the safety efficiency and connectivity of commercial vehicles. WABCO
Holdings Inc. through WABCO Asia Private Limited Singapore holds 75% stake in WABCO
India (as per the shareholding pattern as on 30 September 2018).The company was
incorporated on November 18 2004 as a public limited company with the name Auto (India)
Engineering Ltd. The company was established as a wholly owned subsidiary of Sundaram
Clayton Ltd. In April 19 2007 the name of the company was changed to WABCO-TVS India
Ltd.During the year 2007-08 the company commenced operations in their new manufacturing
facility in a Special Economic Zone (SEZ) at 'Mahindra World City' near Chennai. In March
2008 the company entered into the scheme with Sundaram Clayton Ltd in which the company
took over the Brakes Business of Sundaram Clayton Ltd with effect from the appointed date
January 1 2007. In June 3 2009 WABCO Holdings Inc USA a global technology leader and
tier-one supplier to the commercial vehicle industry raised their ownership position through
indirectly owned subsidiary Clayton Dewandre Holdings Ltd Rotterdam to 75% which
acquired 6795684 equity shares from the Indian promoters namely TVS group constituting
35.83% of the paid up capital of the company. Thus the company became the subsidiary of
Clayton Dewandre Holdings Ltd.During the year 2009-10 the company obtained 'Super
Platinum' award for their manufacturing excellence from Frost & Sullivan. In February 2010
the company agreed to an agreement with Mahindra Navistar Automotives Ltd for
development and long term supply of air compressor technology products for braking
systems and clutch servo technology with series production starting in 2010.During 2011
Company changed its name from Wabco-TVS (India) Ltd. to WABCO India Ltd. In 2012 the

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company inaugurated its new manufacturing facility at Pantnagar Uttarkhand. The company
also inaugurated its plant 2 at SEZ Mahindra worldcity Chennai.During 2015 the company
received various awards like Daimler India's Innovations Award for the year 2014-15 Tata
Motors Supplier of the year award for the year 2014-15 Ashok Leylands Best in class
performance in Quality award for the year 2014-15 Volvo Eicher Overall cost excellence
award for 2015.On 1 April 2016 WABCO India informed the stock exchanges that the
company has entered into an agreement which is on arms-length basis with M/s WABCO
Europe BVBA a related party for payment of royalty at the rate of 4% on the net sales for
using licensed intangibles and technical knowhow.

 Present Scenario of the Company

WABCO's roots are deep and strong. They go back nearly 150 years to the invention of the
revolutionary air brake system by George Westinghouse in 1869. This technological
breakthrough greatly improved the safety and performance of the US national railways.

That same year, engineering genius George founded the Westinghouse Air Brake Company
(WABCO), which flourished for the next century. It also expanded way beyond railway
technology – making major advances for the commercial vehicle industry in Europe and
North America.

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 In 1968, WABCO was acquired by American Standard Companies Inc. and on August 1,
2007, WABCO became an independent public company listed on the New York Stock
Exchange under the stock symbol WBC.

JOURNEY OF INNOVATION

WABCO's track record of technological leadership features many of the commercial vehicle
industry's most important innovations. Within our space, WABCO is most associated with
"industry firsts" such as:

 2017 - OnSide™, an advanced blind-spot detection system for commercial trucks and
trailers. A radar-based system alerts drivers to the presence of a moving vehicle in a truck's
blind spot and provides a side collision warning to reduce the risk of accidents

 2016 - Breakthrough OnCity™ Urban Turning Assist system, the Company's

technology engineered for trucks, buses and tractor-trailers to help protect pedestrians and
cyclists in city traffic

 2016 - Breakthrough collision avoidance technology for commercial vehicles jointly

developed with ZF, the Evasive Maneuver Assist (EMA) combines WABCO's world-class
braking, stability and vehicle dynamics control systems on trucks and trailers with ZF's top
active steering technology — an industry first

 2016 - First door lock control technology (OptiLock™) that provides high security
locking systems for trailers and container doors seamlessly connected with telematics
systems

 2014 - First technology (OptiLink™) that provides a single user interface via a mobile
device, such as a smartphone, to monitor and control multiple functions on both the truck and
trailer

 2014 - First modular braking system platform (mBSP™) that enables vehicle makers
to interchangeably equip their truck and bus platforms with either ABS or electronic braking
systems (EBS) anywhere in the world

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 2014 - First technology (TX-TRAILERGUARD™) that provides comprehensive
operating data on the performance of the truck, trailer and driver in a single integrated real-
time view

 2012 – First electronic braking system (EBS) for hybrid-driven trucks and buses

 2012 – First hydraulic anti-lock braking system (ABS) with electronic stability
control (ESC)

 2011 – First Adaptive Cruise Control (ACC) on a commercial vehicle in China

 2010 – First autonomous emergency braking system (AEBS) in compliance with the
European Union's expected regulation

 2009 – First simulation system for electronic stability control (ESC) homologation

 2008 – First autonomous emergency braking system (AEBS)

 2007 – First collision mitigation system (CMS) with active braking

 2001 – First electronic stability control (ESC) system

 1996 – First electronic braking system (EBS)

 1986 – First automated manual transmission (AMT) system

 1986 – First electronically controlled air suspension (ECAS) system

 1981 – First anti-lock braking system (ABS)

QUALITATIVE APPROACH

These are some of the Qualitative approaches that the company follows
CSR Activities:

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CSR Project by:  WABCO India Limited

Project Sector : Preventive Healthcare, Water and Sanitation, Education,

Employability and Livelihoods Enhancement, Rural Development

Implementing Partners:  Tata Trust, Safe Kids Foundation, District Collector

Project Description
The Company has spent some amount of money in various activities.
Health camps & Health education: The Company, on a strong mission towards preventive
health care, conducted various Health Camps and Health talks. The Health camps were
conducted for the primary school children of Government schools in and around the
Ambattur plant and to a destitute home located at Porur, Chennai. The Primary school
children of Government schools in and around the Ambattur plant were educated on the
importance of personal hygiene to promote preventive health and also they were provided
with toiletries kit for better hygiene.
Blood Donation camp: As Indian society is in such a crisis for want of Blood in saving lives
of the poor and under privileged people taking treatment at the Government hospitals, the
Company organized an onsite blood donation camp encouraging its employees to donate
blood voluntarily. Two such camps were conducted, one at Chennai and the other at the
Jamshedpur plant.
Toilet renovation and water facility to the Govt. primary school, Pant Nagar - The
Government primary school located near the Pant Nagar plant had poor sanitation facility.
The Company had renovated the toilet block and also provided a facility for water supply by
laying submergible motor and an overhead tank for uninterrupted water supply.
Road safety Awareness- The Company has contributed some amount towards Road Safety
mass awareness activities, flash mob and street play, display of road safety messages, quiz on
road safety, distribution of road safety message drawing book to kids, creating pool of trained
students on road safety, setting up "road safety clubs" in schools to create platform for
students, poster competition/quiz etc, teachers training on road safety, message and indirect
reach to parents. The Company also contributed some amount towards road safety workshops
for school bus drivers by educating them about the traffic signs and road markings, managing
students, safe and defensive driving, street management, bad effects of smoking, chewing
tobacco and alcohol.

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Development of Rural areas- The Company contributed towards the CSR by Providing
construction material and cement for construction of houses, road and other public utilities at
Janpahad Village, Palakaveedu Mandal, and various such Development activities, in
Ahmedabad too, an initiative to provide better facilities to rural areas.

OTHER PROJECTS:

 Education and skill Building

 Health Initiative
 Education Initiative
 Affirmative Action
 Varisthajana Swasthya Sewa Abhiyan
 ONGC-GICEIT Computer Centre

Fundamental Analysis of WABCO India (WABCOINDIA)

CAGR Book Operati Earning Divide EBITD Net EBITDA Year Range
Growth value ng cash Per nd % A% Incom Per share
Period Per Flow % Share % e% %
Share
%

1 Year 16.66 0.000 0.000 0.000 0.000 0.000 0.000 18-19

3 Year 19.07 0.000 0.000 0.000 0.000 0.000 0.000 16-19

5 Year 18.70 0.000 0.000 0.000 0.000 0.000 0.000 14-19

7 Year 18.92 0.000 0.000 0.000 0.000 0.000 0.000 12-19

10 Year 24.58 0.000 0.000 0.000 0.000 0.000 0.000 09-19

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WABCO India: Safety through innovation

WABCO India is continuously working towards developing cost-effective and reliable

solutions to assist these trends. A robust backend program for R&D to support the evolving
Indian bus industry is coming up in the company. We have a lot to offer for telematics and
cloud-based solutions to enhance the connectivity of fleets.

Further, mandatory fitment of ABS in buses and trucks has been a key turning point. Coupled
with the introduction of BS IV, it has helped WABCO in transforming the whole vehicle into
an intelligent unit. We are leveraging ABS beyond safety to emphasize on the benefits of the
technology in helping improve tire life and optimize fuel efficiency. We introduced ABS in
the aftermarket through the retrofit route and fitted it in over 50,000 vehicles that resulted in
significant improvement in road safety until the Government of India mandating ABS
legislation.

BS IV has also helped to catalyse the introduction of AMT in India in 2017. The stricter
safety norms will help WABCO in working closely with bus manufacturers to further
penetrate the Indian market and introduce newer technologies for the benefit of its customers.
WABCO’s solutions including ABS, AMT, Electronic Braking Systems and Air Disc Brakes
are among the key technologies, which will assist us in enhancing the safety of buses and
commercial vehicles.

Tech adoption in India

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Indian bus makers are leveraging technology to tackle transportation and transit challenges in
the country. Intelligent systems, advanced collision mitigation systems, lane departure
warning systems, advanced emergency braking systems are few of the technological
innovations being adopted by Indian OEMs to enhance the value of the fleets in India and
make it more cost-effective in long-term. They follow global development norms to support
the requirements of modern bus fleets.

Automating bus transmission

WABCO is at the forefront of automatic transmission revolution in the country. Automated

transmissions like our ‘OptiDrive’ AMT add value to both the product makers and their
users. For automakers, it offers reduced vehicle weight, absence of clutch pedal, no need for
synchronisation and simplifies the assembly of the system. It offers operational reliability to
OEMs, where there is no scope for errors in gearshift, while also ensuring simple-yet- robust
design of components.

The end users, on the other hand, benefit from extended clutch and transmission life,
increased fuel economy, and enhanced drivability. It offers less gear change, reduces clutch
errors, and allows precise and fast selection of gears, especially in challenging situations.
This results in less stress for the drivers in congested city traffic.

OptiDrive is a modular transmission automation technology that can be easily adapted to a

wide range of existing manual gearboxes, providing an alternative, cost effective, and reliable
solution for CVs, buses in particular. It combines comfort and ease-of-use of an automatic
transmission, while retaining the efficiency of manual gearboxes.

“A robust backend program for R&D to support the evolving Indian bus industry is coming
up in the company. We have a lot to offer for telematic and cloud-based solutions to enhance
the connectivity of fleets.

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– Mr. P. Kaniappan

WABCO’s latest technology portfolio for buses

* PAN range of Air Disc Brakes (ADB) – offers better performance compared to drum
brakes in terms of stopping distance reduction, consistent performance during repeated
braking in city operation and eliminating the pull while braking at high speeds.

* Modular Door Control Systems – an ECU based door control system enough to handle
virtually all mass transit niches.

* ESCsmart Electronic Stability Control – an active safety system that monitors the roll and
directional stability of vehicles during difficult maneuver and terrain conditions. It increases
vehicle stability during maneuvers such as cornering and lane changes and automatically
intervenes when a high risk of instability is detected.

* OptiRide Electronically Controlled Air Suspension (ECAS) – the best-selling solution for
electronic control of air suspension globally, which delivers fuel savings of up to 3 percent on
specific applications, while providing optimal ride performance.

* OptiTire™ Tire Pressure Monitoring System – first tire pressure monitoring system
developed for commercial vehicles. It offers external and internal sensors and is based on a
single system. The system is designed to work across a spectrum of CVs, including buses. It
lowers fleet running costs, maximizes tire life and reduces breakdowns. It assures fuel saving
by up to 2 percent as well.

* WABCO’s Fleet Management Solutions (FMS) – provides accurate vehicle information

updates through live tracking and vehicle activity monitoring, including its fuel consumption,
vehicle utilization and performance.

* Lane Departure Warning System (OnLane) – equipped with a forward-looking camera for
active lane correction.

* Autonomous Emergency Braking System (OnGuard) – alerts the driver to potentially

critical driving situations via acoustic, visual and haptic signals. Should the vehicle operator

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fail to take corrective action, the system provides active braking on moving, stopping and
stationary vehicles to mitigate or prevent impending rear-end collisions.

AWARDS & RECOGNITIONS

WABCO INDIA AWARDS AND RECOGNITIONS

2015

Daimler India's   Tata Motors' "Supplier of

"Innovations Award" for the year" award for the
the year 2014-15 year 2014-15

Ashok Leyland's "Best in   Volvo Eicher "Overall

class performance in cost excellence" award for
Quality" award for the 2015
year 2014-15.

2014

“Best in Class   Managerial Excellence

Performance in Proactive award for Manufacturing
Cost Competitiveness” Sector from Madras
award from Ashok Management Association
Leyland for the year 2013- for the year 2014
14
2013

Ashok Leyland Award for   CII EHS EXCELLENCE

Best in Class performance AWARD
in Environment Friendly
initiatives

Outstanding contribution   Excellence in Technology

to new product and Innovations Award
development award by from TATA MOTORS
VECV

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 Silver trophy for star   “Strong Commitment to
performer in exports for HR Excellence” award at
the year 2011-12 from the 4th CII National HR
EEPC INDIA Excellence Award .

  VECV award for      

"Outstanding
contribution to new
product development".
2012

"Safety Appreciation   National Award for

Award" from "National
Safety Council",
Tamilnadu chapter
Ashok Leyland  
outstanding Co-location
support Award
“Excellence in Cost
Management” from the
Institute of Cost and
Works Accountants of
India (ICWAI) – Second
Award
“Best efforts in value
engineering and cost
reduction in 2011-12”
Award from MAN.

Certificate of   Best kaizen award from

Appreciation from Ashok Leyland during
MAHINDRA & Quality month
MAHINDRA for “Best celebrations
poka yoke”.

“Long Association” award      

from AMW.

2011

  TATA “Excellence in      
Quality, Innovation &
Technology
2010

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 Ashok Leyland Overall   VOLVO Eicher Best New
Quality Excellence Gold Product Development
award for 2009-10 supplier award for 2009

Frost & Sullivan India      

Manufacturing Excellence
Super Platinum award

2009

ACMA Gold Trophy for      

“Manufacturing
Excellence”

2008

TATA Motors Vendor   TATA Motors Vendor

Meet – 2008 – Meet – 2008 – “Excellence
“Recognition of enduring in Quality”
relationship”

VOLVO Eicher   TATA Motors certified

Commercial Vehicles for “Consistently
Vendor Meet – 2008 – maintaining Zero PPM
“Best Quality Vendor” over three years”

2007

JIPM – TPM Category 1   Frost & Sullivan, India

award manufacturing excellence
Super Platinum award

Tata Cummins certificate      

for “Excellent Support in
New Product
Introduction” and “Best
Cost Reduction”

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2006   2005

Eicher Motors certificate   Frost & Sullivan, India

for “Value Engineering manufacturing excellence
Support, Vendor Overall Gold award
Managed Inventory and
State-of-the-art Design
and Testing Facilities”

2004   2003

Tata Cummins certificate   ACMA Gold trophy for

for “Commendable efforts “Manufacturing
in Value Engineering and excellence”
Cost Reduction”

2002

ACMA award for   Japan Quality Medal

technology First Indian company and
Second company outside
Japan to win the Japan
Quality Medal

1998

Deming Application Prize      

First Indian company to
win the coveted Deming
prize

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 COMPETITIVE ANALYSIS

Comparison with Competitors of WABCO INDIA

Name Last Market Cap. Sales Net Profit Total Assets

Price (Rs. cr.) Turnover

Endurance Techn 914.25 12,860.10 5,417.46 357.86 2,294.94

WABCO India 6,105.00 11,579.71 2,854.14 282.17 1,779.97

Suprajit Eng 167.05 2,336.57 1,058.49 114.82 852.42

Minda Corp 94.45 2,146.11 1,133.81 105.58 1,474.50

Banco Products 107.35 767.75 736.19 122.91 666.20

Lumax Auto Tech 87.00 592.97 652.32 45.45 322.38

Alicon Castallo 367.95 506.86 1,073.70 50.19 564.37

Munjal Showa 125.00 499.94 1,669.29 62.60 610.63

Munjal Auto Ind 36.45 364.50 1,146.98 33.25 324.29

PPAP Automotive 185.75 260.05 410.98 33.42 311.80

Sintercom India 60.00 145.22 82.74 5.50 113.07

Commercial Eng 14.50 129.75 215.80 88.67 134.52

Remsons Ind 85.70 48.96 149.38 3.44 48.06

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WABCO INDIA HISTORICAL MILESTONES
 2012 WABCO inaugurates its Plant 2 at SEZ, Mahindra Worldcity, Chennai. 
 2012 WABCO launched its new manufacturing facility at Pantnagar, Uttarakhand.
 2009 WABCO takes majority ownership. WABCO-TVS (India) Limited becomes
WABCO INDIA LIMITED.
 2008 SCL Brakes division de-merged into WABCO-TVS (India) Limited
 2008 Commenced production in the new plant in Mahindra World City, Chennai
 2007 Commenced production in the new plant in Jamshedpur, Jharkhand
 2005 WABCO inaugurates Software Design Centre, Chennai
 2004 Commenced production in the new plant in Ambattur, Chennai
 2003 ACMA Gold Trophy for Manufacturing Excellence
 2002 Second company outside Japan to win Japan Quality Medal
 2001 ISO 14001 Certification
 2001 ACMA Gold Medal for technology development
 2000 QS 9000 Certification
 2000 Launch of ABS
 2000 Commissioning of proving ground
 1999 TPM kick off
 1998 First Indian Company to win Deming Prize
 1987 Launch of TQM
 1987 Manufacture of Vaccum Products
 1982 Commenced production of dual brake systems
 1962 Established as a Joint Venture with Clayton Devandre

39 | P a g e
WABCO INDIA TECHNOLOGICAL MILESTONES
 2010 Launched localized Clutch Servo, Automatic Slack Adjusters, Air Processing &
Distribution Unit (APDA)
 2004 Products meeting global standards
 2002 Launched locally developed Anti-Lock Braking System (ABS)
 1999 Launched Air Dryers, Automatic brake adjustemt and load sensing valves
 1994 Introduced products for Defence applications
 1990 High Pressure Compressors

BEST MANAGEMENT PRACTICES BY WABCO INDIA LTD.

Risk Management:
The Company has laid down procedures for risk assessment and mitigation actions. These
procedures are periodically reviewed to ensure that executive management controls risk
through means of a properly defined framework. Risks identified and mitigation measures
are periodically communicated to the board of directors.
Internal control system and their adequacy
The Company has proper and adequate systems of internal control to ensure that all assets
are safeguarded and protected against loss from unauthorized use or disposition thereof.
All transactions are authorized, recorded and reported correctly. The internal controls are
checked by internal auditors. The observations made by them, management action and
time frame are reviewed by the audit committee of the Board of Directors. Concerns if any
are reported to the Board.

Operations review

Manufacturing
During 2017-18, company has expanded its plant at Jamshedpur to support the volume
growth. Various capacity augmentations were also made across locations to meet the
increased volume requirements post BS-IV. To increase proximity of operations to
customers manufacturing locations, improve supply chain responsiveness and increase

40 | P a g e
competitiveness, certain manufacturing lines were transferred among locations wherever
necessary with lean asset business models to achieve optimal cost advantage and results.
Expansion of the Mahindra World Facility Plant located in the Special Economic Zone
was initiated to cater to the increasing requirements of the Global market. Focused efforts
were made to enhance productivity and quality through lean tools and facility upgradation
programs. During the year, the company has received special recognition award in
National Safety Practice Competition hosted by CII.
The Company’s manufacturing facilities, building on its strong fundamentals of Total
Quality Management (TQM), Total Productive Maintenance (TPM) and Lean
Manufacturing has best-in-class practices for safety, work environment, water and energy
conservation. These initiatives are deployed companywide to achieve significant
improvement in productivity and reduction in manufacturing cost.
Continuous focus to improve quality and productivity were undertaken at all the
manufacturing locations, challenging the site layouts to be more compact &to be efficient
in floor space utilization. A facility upgradation program is underway to set new
benchmarks including adoption of Smart Manufacturing practices like Low Cost
Automation, IIoT, Traceability Systems, Machine/Computer Vision etc. Working on its
inherent strengths in frugal engineering and quality with optimal cost the Company has
demonstrated various "Lean Equipment Development" projects for its group entities in
Brazil, Charleston through design and development of manufacturing lines.
"WIN 2.0" was a transformation initiative intended towards changing the mind-set of
employees at all levels, all functions and across locations to achieve global standards of
performance. This initiative which was widely imbibed in employees has already started
yielding visible results in all areas of operations. This transformation has been
acknowledged by key customers with awards. The Company had bagged prestigious
supplier awards from the top OEM Customers which are "Best Supply Chain
Transformation" award from Cummins India, "Outstanding contribution to Technology
Innovation" award from Volvo Eicher, "Cost reduction" award from Swaraj Mazda Isuzu
etc. Further, the Company received "Supply Chain and Logistics Excellence" award from
CII and Institute of Logistics for the second consecutive time for its approach on inventory
optimization techniques.
The Mahindra World City Plant received the prestigious Export Excellence Award from
Ministry of Commerce & Industry, Government of India in recognition of contribution to

41 | P a g e
Net Foreign Exchange Earnings. It has also received the "Future Ready Factory Award -
Auto Ancillary Sector, Large Business" at India Manufacturing Excellence Awards 2017.

Quality
The quality systems in the Company aim at achieving total customer satisfaction through
its focus on improving product quality to world standards. This is achieved through total
employee involvement and continuous improvement culture.
The year 2017-18 was a year of mixed status with customers in India. The Company is at
18 PPM. Customers continue to raise their expectations. TATA Motors expects to achieve
<50 PPM for 0Km and no failures in 3 MIS from the field. Volvo Eicher expects Zero line
interruptions in their plant due to supplier part quality. Ashok Leyland measures the pain
points and rates suppliers based on the same.
To meet the above customer requirement it is necessary to standardize the processes,
operate with right competency/ skills of the workforce to consistently supply right quality
of products. Six sigma projects started for each customer to meet each customer
requirements and to standardize all critical production lines.
The First pass yield [FPY] is measured in India in PPM and we have brought it down
~60% in 2017. Deploying "VDA6.3" , "VDA6.5", Product safety standards, helped the
Company reduce the defects significantly. 96 assembly lines were upgraded in line with
VDA6.3 for making them robust enough to prevent defects.
Product quality along with PE Quality achieved 100% customer PPAP "First Time Right".
However, the Company needs to mature to take care of manufacturability, serviceability,
reliability and hand over projects in time. Significant efforts were put in to improve
Supplier Quality, which resulted in a 50% reduction in Supplier PPM. 40% of the suppliers
have been upgraded as "Zi ZF" (Zero Inspection and Zero Follow-up) Suppliers. All the
plants have been transformed from TS16949 to latest improved IATF 16949 Quality
systems. The joint efforts of all functions enabled the Company to get certified in January
2018. TQM is a way of life at the Company. 100% participation in employee involvement
has been successful for the past 19 consecutive years. Employees have completed 268
Quality Control Circle projects and 89 Supervisory Improvement Team and Cross
Functional team projects by applying statistical tools, Six Sigma (DMAIC and DMADV)
and Quick Response Six Sigma (QR6S) methodology during 2017-18. Over 84,000
suggestions have been implemented by all employees of all the plants, including trainees.
Employees from all the plants participate in Quality Control Circle, Supervisory

42 | P a g e
Improvement Team and Cross Functional Team projects and present their completed
projects in monthly presentations. Employee suggestion scheme is in force at all plants and
employees implement suggestions under productivity, quality, cost, delivery, safety and
morale categories. In order to foster employee engagement across all plants, interplant
quality circle and six sigma competitions were conducted and best teams were recognized.
Quality Control circle, Cross functional teams of employees participated in external
competitions conducted by industry bodies, Automotive Component Manufacturers
Association (ACMA), Confederation of Indian Industry (CII), National Institution for
Quality and Reliability (NIQR), Indian Machine Tool Manufacturers Association
(IMTMA), Quality Circle Forum of India (QCFI), Indian National Suggestions Schemes
Association (INSSAN) and had won various prizes. Significant among them are winning
first prize in 10th CII National Competitiveness & Cluster Summit -2017, winning first
prize in CII Supply Chain and Logistics Excellence competition, winning first prize in CII
Southern region kaizen competition 2017, 12 th Edition for operators and supervisors,
winning first prize in ACMA Northern region zonal quality circle competition, winning
first and second prizes in ACMA Southern region business quiz competition, winning first
and second prizes in ACMA Southern region kaizen competition, first prize in FICCI
competition on role of corporates on road safety 2017, winning second prize in IMTMA
National productivity summit, winning platinum award in QCFI Six Sigma competition,
Gold and Silver awards in NIQR Six Sigma competition. One quality circle team
participated in International quality circle competition held at Philippines and secured
Gold Award in demonstrating their passion and innovation in various areas of excellence
in manufacturing.

Cost management
The Company has continuously upgrading the robustness in cost control capabilities,
especially in procurement. The Company realizes that better cost management is a key
differentiating factor in this competitive environment, the prime strategies are value
creation through design Improvement, localisation of inputs and products and conversion
cost productivity.
Cross functional teams are formed with members from various functions like Product
Engg, Manufacturing & sourcing to focus on identified cost reduction projects. The
Company continues to find best cost supplier across continents leveraging its global
platform in its endeavor to become best cost supplier to the customers. Key focus area is

43 | P a g e
process improvement by collaborating technology partnership with leading suppliers to
continuously keep the costs at optimal levels.

Information Technology
The Company uses an ERP system that integrates all business processes across the
Company as well as customers and suppliers. During the year, the company focused on
100% availability of the ERP applications which is now hosted in global HP Data center at
Germany with enhanced security features and back to back disaster recovery methodology.
Focus was given towards paperless office wherein additional projects have been
implemented towards automation of the repetitive activities in order to eliminate non-value
added activities. With the vision to build a digitally optimized workplace to engage and
develop talents by efficient collaboration, the company migrated to a cloud based Email
system with access of data on any device anytime. To ensure security at all WABCO
locations, a Central Command Centre has been setup to monitor all CCTV cameras at the
corporate office which is manned round the clock.

Human Resource Development

The Company focuses on attracting and retaining the best talent and enjoys a good brand
image across leading educational institutions and talent pool. The current average
recruitment lead time of the lateral talent is around 50 days. We have inducted 267 new
talents in 2017-18, majority of them in Product Engineering. The Company blends
successfully mid-career recruitment with internally grown talent through a robust globally
managed talent management process. Rewards and recognition system is in place to retain
and provide fast track growth for high potential employees. Internal Talent mobility rate
which is at 59%, is one of the key engagement driver ensuring employees move and grow
within WABCO from one position to another -either cross functional, across businesses
and across geographies. Our Voluntary attrition rate is at 4.7%, while similar Industry
attrition rates are at an average of 9.9%.
"The Pacemakers" program inspired by our differentiation formula: D=P[A+C+E] =
Passion [Anticipation + Creativity + Execution] was launched to develop a new culture
together and to act as an enabler for our success and reinforce our differentiation. PACE5
behaviours will be integrated into our performance management process and employees
will be encouraged to self-assess themselves against the following five behaviours –
1) Be Authentic,

44 | P a g e
2) Foster Engagement,
3) Leverage Difference,
4) Cultivate Collaboration
5) Is Accountable.
Pacemakers workshops are conducted for the employees to understand the behaviours, live
them to the best of their abilities. "Talk 2 Me", "Women’s Forum" and "Blue Collar
Contact Program" initiatives help to build a strong bottom up communication and ensure
healthy Industrial Relations climate across all locations resulting in zero man hour loss.
As of 31st March 2018, the Company had 1673 employees on its rolls.

Environment & Safety

The first three months of the year were taken as safety months which were used to enhance
safety systems and in create safety awareness among the employees. The Director of
Industrial Safety and health from the Government of Tamil Nadu was gracious enough to
visit the plant during the culmination of the safety months program and share his
experience and also motivated the employees. All 5 plants and test track have successfully
completed the second Surveillance audit of ISO 14001 & OHSAS 18001.
The Company has taken many initiatives on improving ergonomics in the shop floor.
Medium fatigue stations were identified and the ergonomics were improved with
achievement of low risk job stations of 97%, thereby improving productivity and operator
morale. Ergo Stretch programme was initiated in Ambattur plant for shop floor employees
which helped them feel refreshed and reduce fatigue.
As a part of Environmental protection, the installed sewage treatment plant treats and
reuses water which is used for gardening and toilet flushing thereby reducing the water
consumption by 25%.
During the year Ambattur plant won "SPECIAL AWARD “for the best safety practices
from the Confederation of Indian Industries and Dr. C K Ramachandran award from Indian
Association of Occupational Health for maintaining the Best Occupational Health centre.

Community development and social responsibility

As a responsible corporate citizen, the Company engages in social responsibility and
community development activities. This year the activities were conducted through

45 | P a g e
internal engagement of employees and resources, driving activities which would help the
needy sections of the society as specified in Schedule VII of the Companies Act, 2013 and
the Company’s CSR policy with specific focus towards areas surrounding the company’s
plant locations.
The Company is also in the process of identifying suitable projects and scaling up the
existing projects and hence could not spent 2% of the average net profits of last three
years. The Company has established a trust in the name of WABCO Foundation for
carrying out CSR programs, which identifies appropriate CSR projects in line with the
Company’s CSR policy and implements them.
The CSR Activities of the Company for the FY 2017-18 are mentioned in the Annexure - 2
to the director’s report

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 CONCLUSION

In the conclusion I would like to say that these are the factors which should be taken into
consideration while analysing a company, moreover the more we analyse a company the
more we can learn about its features and how it is functioning and sustaining its business in
the market. This would also help us to know how efficient the company is and whether if we
invest our money and shares, what returns we would get that would also be known to us and
we could take proper strategic decisions.

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 REFERENCES
www.investopedia.com
www.wikipidea.org
www.economictimes.com
www.moneycontrol.com
https://www.indiainfoline.com
https://www.financialexpress.com
https://www.wabco-auto.com
https://www.motilaloswal.com

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