Sip

Watch Industry
An
Online Summer Report (501)
“Apparel Industry ( Fashion : Watch sector)”
Titan Public Limited
Rolex Privet Limited
Rado Privet Limited
Under the Guidance of
Dr. Mrunal Joshi
Submitted by:
Anis Bharatbhai Suvagiy-177
Nancy Vijaybhai Rawal-166
Ashish Bachubhai Makvana-143
In Partial Fulfillment of
Bachelor of Business Administration Degree,
Affiliated to Veer Narmad South Gujarat University,
BRCM College of Business Administration
Academic Year 2021 – 2022
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B.R.C.M. College of Business Administration
Watch Industry
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Watch Industry
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DECLARATION
We, undersigned, hereby declare that the project report is an original piece of work
under the guidance of Dr. Mrunal Joshi. All the facts and figures included in the
report is a result of our own research and investigation and the same has not been
previously submitted to this university or any other university, any other organization,
or published any time before. The information has been collected from genuine and
authentic sources. The work has been submitted in partial fulfillment of BBA degree
to BRCM College of Business Administration, affiliated to Veer Narmad South Gujarat

University.
This declaration will hold good and in our wise belief with full consciousness.
Name
1. Anis Bharatbhai Suvagiya
2. Nancy Vijaybhai Rawal
3. Ashish Bachubhai Makvana
Signature
Date : 29/10/2021
Place : Surat
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ACKNOWLEDGEMENT
Without acknowledging others, any of the project is incomplete. We would like to
grab the opportunity to thank all those who made this project possible. We,
undersigned, express our gratitude to Veer Narmad South Gujarat University for
introducing Summer Internship Project as a part of BBA Curriculum. It is our great
pleasure to have the opportunity to express our gratitude to BRCM College of Business
Administration. .We are highly thankful to our guide Dr, Mrunal Joshi. It is due to her
encouragement and motivation; this project would have been possible. We are also
very much thankful to Dr. Mrunal Joshi, Principal in Charge, and BRCM College of
Business Administration, for her kind and constant support. We would like to thank all
individuals and institutions who have directly or indirectly helped us in completing

this project.
Name
1. Anis Bharatbhai Suvagiya
2. Nancy Vijaybhai Rawal
3. Ashish Bachubhai Makvana
Signature
Date : 29/10/2021
Place : Surat
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STRUCTURE OF SUMMER TRAINING REPORT
Sr. Particulars Page no.

No.
1 Title Page 1
2 Report Completion Certificate (College) 2
3 Declaration 5
4 Acknowledgements 6
5 Index 7
6 Executive Summary 8
7 Chapter 1: Industrial Scenario 9
8 Chapter 2: Profile of the Companies Selected 21
9 Chapter 3: Finance Department 46
10 Chapter 4: Marketing Department 90
11 Chapter 5: Human Resource / Personnel Department 104
12 Chapter 6: Production / Operations Department 115
13 Chapter 7: Conclusion 125
14 Bibliography 127
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Executive Summary
The report consists of the study of the organizations named below:
Titan Public Limited
Rolex Privet Limited
Rado Privet Limited
It involves the brief profile of the companies and about the industry. Apart from this; a
brief introduction has been given about each department of the companies. The study also
includes SWOC (Strength, Weakness, Opportunity and Challenges) analysis of the
companes inpresent situations. It is intended to analyse comprehensively and understand
thoroughly the various departments, Products, services, functions and company’s approach
towards using technology, corporate social responsibility and work environment.
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Chapter 1:
Industrial/Sectoral Scenario
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1.1 History / Evolution of the sector

The earliest beginnings of watchmaking date back to the Middle Ages. It was not until
industrialization that production in series became possible at affordable prices. Many still
active brands have their beginnings in this time and look back on a long history. These
traditional houses have shaped the development of watch history over the years and made
the way for the excellent mechanical watches of today. Anyone interested in early models
of watch history should rely on certified, used luxury watches here.
1.1.1 Watchmaking in the Middle Ages – from the clock to

the watch
The history of mechanical watches begins with the big clocks. These are wheel clocks –
clocks whose movement consists of a big mechanisms of gears. They have a larger housing
and are not worn on the body, or are often not even moveable. One turn of the main hand
covers 24 hours, while watches usually show only 12 hours on the dial.
The earliest watchmakers in Germany were Christian monks, who needed timepieces for
monasteries and tethered schools to regulate prayer and working hours. Guidelines such as
„Ora et labora“ (pray and work) made it necessary to divide the day into appropriate units
to regulate the monastic life.
As early as the 14th century, large clocks hung in churches. They were made by locksmiths
who didn’t need special vocational training. Nevertheless, the tower clocks were complex
structures that indicated by the chimes on the full hour the time and made the time
accessible to the whole village.
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Only the invention of the spring drive in the 15th century, which replaced the previous,
made it possible to produce smaller watch cases. This slowly made the way for the first
pocket watches.
Watchmaking guilds were first created in the 16th century. The blacksmiths also retained
the right for themselves to manufacture watches. The watchmaker’s craft is still very
versatile: Watchmakers are artisans, precision mechanics and artists alike and combine
these skills with a high level of creativity.
The first registered watchmaker associations got founded 1540 in Dresden. In comparison,
the first documented wheel clock was already in 1306 in St. Gotthard in Milan.
The first forerunner of the wristwatch, as we know it today, was made in 1812 by Abraham-
Louis Breguet for Queen Caroline Murat. It would take almost a century before the
wristwatch made its breakthrough into the men’s world. The pocket watch first prevailed,
which was available in many imaginable variants.
Another important factor influencing the further development of watches was the seafaring.
Ship chronometers were used to determine the ship’s exact geographical coordinates.
However, the then very sensitive clocks on the water were subject to other requirements
than on land. The Englishman John Harrison was the first to find a solution to this problem
and invented the Grasshopper escapement in the middle of the 18th century, which
compensated the temperature fluctuations. In addition, he provided his watches with a
special suspension, which could also compensate the wave movements.
1.1.2 The industrial revolution in watchmaking
The industrial revolution that emerged in the second half of the eighteenth century offered
both opportunities and challenges for the watch industry.
The mechanization of certain production steps led to a separation of individual production

stages and enabled more efficient work and higher production figures. Parts that were
needed for the watch manufacturing, dropped in price because they could be machined
time-saving and cheap manufactured.
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With the production conditions also the understanding of time fundamentally changed.
Where previously often sunrise and sunset had been determined the time, now has been
supplemented with artificial light sources to allow longer working hours. The clocks in the
factories heralded the economization of time. As the well-known proverb says: „Time is
money“, so it had to be measurable for everyone. This also increased the popularity of the
timepieces. In the past, they were mainly seen on church towers, now they conquered the
public space and began to decorate railway stations and factory halls. Private individuals
also increasingly wore watches in their pockets or on their wrists. The increasing demand
also drove the development of master watchmakers. In the 18th and 19th centuries, many
of the big traditional companies were founded, which today have a permanent place in the
watch industry. They were preceded by the ground breaking inventions of Abraham-
Louis Breguet, who, with the Breguet hairspring and Parachute shock protection, laid the
groundwork for watches to become smaller and soon to be worn on the arm. He is
considered to be the most creative mind in the history of watch development. Serving
prominent clients from the princes of Europe and the elite of the bourgeoisie. Adrien
Philippe also made his contribution with the invention of the Remontoir watch. New to it
was the winding crown, which provided so much enthusiasm to Count Antoine de Patek
that he founded Patek Philippe with him in 1839. Also Jaeger-LeCoultre (1833), A. Lange
& Söhne (1845), Cartier (1847), Omega (1848), Heuer (1860), IWC (1868), Audemar
Piguet (1875) and Breitling (1884) were in the same Century, just to name a few.
Watchmaking increasingly moved from small workshops to larger factory halls.
For example, in 1845 Adolph Lange laid the foundations for the German watch industry in
Glashütte with the founding of his factory. He focused on the division of labor during
manufacture and had specialized workers produce individual parts and continue to work
on improving them. Industrial production made it possible to produce watches in such large
quantities that their prices became more affordable and more people could afford these
timepieces.
At the same time, the industrial revolution first plunged watchmakers in the Black Forest
and Switzerland into a crisis and ultimately led to a change in the kind of production. Since
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many steps were automated, handmade watches could not compete with the new product
and also took much longer in production.
1.1.3 Establishment of the wristwatch
Although the first wristwatch had already been worn by Napoleon’s sister, Caroline Murat,
a century before, the wristwatch’s entry into the broad mass of society was sluggish.
Gentlemen often wore pocket watches tucked away on a chain in the vest pocket, and ladies
wore their luxury watches either on long chains around their necks or on a chain around
their arms. These early wristwatches, however, had more an ornamental quality due to the
decorated bracelets and necklaces. But with the beginning of the Second World War it
became necessary for airmen and soldiers to be able to keep an eye on the time and still
have both hands free. The watch industry responded and produced wristwatches
specifically designed for professional use. Many current types of watches such as aviator
watches, diving watches and special chronographs are still a tribute to this genesis. The
Cartier Santos is the first pilot’s watch and the first wristwatch for men. Louis Cartier
designed it specifically for aviation pioneer and friend Carlos Santos Dumont, followed by
other aviator watches such as the Breitling Chronomat or the Rolex Air-King. Especially
Rolex established itself in the watch world at the beginning of the twentieth century, the
brand’s popularity went hand in hand with the proliferation of wristwatches. Since 1908,
the name Rolex existed as a registered trademark, but only the development of the
waterproof Oyster housing helped the company in 1926 to its final fame. Its waterproofness
could be seen proved on the wrist of the swimmer Mercedes Gleitze when she started the
record attempt to be the first woman to swim through the English Channel.
The heyday of the watch industry ended only with the beginning of the Second World War.
The concomitant economic bottlenecks influenced the purchasing behavior of the
population and also caused financial difficulties for watch manufacturers.
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1.2 Overall working of the sector
The Watch Market is segmented by Product Type (Quartz Watch and Digital Watch), End
User (Women, Men, and Unisex), Price Range (Low Range, Mid Range, and Luxury),
Distribution Channel (Offline Retail Stores, and Online Retail Stores), and Geography
(North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).
Market Overview
The watch market was valued at USD 61.85 billion in 2020, registering a CAGR of 4.10%
during the forecast period (2021-2026).
Considering the COVID-19 pandemic, smartwatches companies have upgraded and

launched products to detect the early symptoms of COVID-19 in individuals. For instance,
in September 2020, Apple Inc. launched the Apple Watch Series 6, which incorporates
features such as heart rate and blood oxygen sensors, as it detects early signs of respiratory
conditions like influenza and COVID-19.
The disposability and affordability of value watch brands make them a popular fashion
choice among consumers across the world. The lower-priced and mid-priced watches are
increasingly gaining market traction due to the increasing demand for value-for-product
watches and accessories among women.
The demand for smartwatches in the digital watch segment is getting stronger among young
consumers, as they are more aware of smartphone technology. Popular brands, like Apple
Inc. and Fossil Group Inc., are increasingly launching new products with new product
innovation year on year so as to sustain in this growing market.
Brands, like Casio and Timex, are continuously investing in R&D for product innovations
to blend some of the features of smartwatches with the long-lasting battery life of digital
watches while offering the product in attractive design and affordable prices. However, the
growth of the watch market has been affected by the presence of these counterfeit products,
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and customers may not be able to differentiate such products, thereby affecting the revenue
stream for the organized players.
1.3 SWOC Analysis

SWOC analysis of Apparel (Fashion: Watch) Industry
1.3.1 STRENGTH
I. Raw material base
India has high self sufficiency for raw material particularly natural fibres. India’s cotton
crop is the third largest in the world. Indian textile Industry produces and handles all types
of fibres.
II. Labour
Cheap labour and strong entrepreneurial skills have always been the backbone of the Indian
Apparel and textile Industry.
III. Flexibility
The small size of manufacturing which is predominant in the apparel industry allows for
greater flexibility to service smaller and specialized orders.
IV. Rich Heritage
The cultural diversity and rich heritage of the country offers good inspiration base for
designers.
V. Domestic market
Natural demand drivers including rising income levels, increasing urbanisation and growth
of the purchasing population drive domestic demand.
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1.3.2 WEAKNESS
I. More dependence on cotton
Due to over specialization in cotton, the bulk of the international market is missed out,
synthetic products in India are expensive and fabric required for items like swimsuit, sky-
wear and industrial apparel is relatively unavailable.
II. Spinning Sector
Spinning sector lacks modernization and there is a need of introducing new technology.
III. Weaving Sector
India has relatively less number of shuttle-less loom.
IV. Fabric Processing
Processing is the weakest link in the Indian textile value chain, adversely affecting its
ability to compete in exports.
V. Poor Infrastructure
High power costs and long export lead times are eroding India’s export competitiveness
across the textile chain.
VI. Low Labour Productivity
Productivity levels for manufacturing various apparel items are far lower in India in
comparison with its competitors.
1.3.3 OPPORTUNITIES
I. Growing Industry
World textile trade would continue to grow at a rate of 3-4% to reach $200-210 billon by
2010.
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II. Market access through bilateral negotiation
The trade is growing between regional trade blocs due to bilateral agreements between
participating countries.
III. Integration of Information technology
‘Supply Chain Management’ and ‘Information Technology’ has a crucial role in apparel
manufacturing. Availability of EDI (Electronic Data Interchange), makes communication
fast, easy, transparent and reduces duplication.
IV. Opportunity in High Value Items
India has the opportunity to increase its UVR’s (Unit Value Realization) through moving
up the value chain by producing value added products and by producing more and more
technologically superior products.
1.3.4 CHALLENGES
The new trends, changing consumer habits, and market shifts have shed a light on the new challenges
the eCommerce industry is facing in 2021.
 Difficulty in managing customized order allocation and inventory sync
 Unable to align warehouse operations manually amid such hard times
 Problems in selling pandemic essentials such as face masks in combo packs
 Inability to manage deliveries, leading to higher % of Customer Initiated Returns (CIR)
 Hard to align multiple sales channels and offline stores alongside
 Back-breaking for eCommerce platforms to manage multiple vendors
 Untimely and inefficient delivery of products
 No stock rotation leading to outdated stock
 Increased cost of Reverse Logistics
 Hard transition to present Taxation policies
 Poor management of returns and cancellations
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1.4 Major Players in the sector
1.4.1 Fossil Group Inc.
Fossil Group, Inc. is an American fashion designer and manufacturer founded in 1984
by Tom Kartsotis and based in Richardson, Texas. Their brands include Fossil, Relic,
Michele Watch, Skagen Denmark, Misfit, WSI, and Zodiac Watches. Fossil also makes
licensed accessories for brands such as BMW, Puma, Emporio Armani, Michael
Kors, DKNY, Diesel, Kate Spade New York, Tory Burch, Chaps, and Armani Exchange.
Kosta Kartsotis, brother of Tom Kartsotis and CEO, owns approximately 12.5% of
Fossil stock. The company name is the nickname the brothers gave their father.
1.4.2 Citizen Watch Co. Ltd.
Citizen Watch Co., Ltd. (Shichizun tokei Kabushiki-gaisha) is an electronics company

primarily known for its watches and is the core company of
a Japanese global corporate group based in Nishitokyo, Tokyo, Japan. In addition to
Citizen brand watches, it is the parent of American watch company Bulova, and is also
known for manufacturing small electronics such as calculators.
1.4.3 Titan Company Limited
Titan Company Limited (Titan), a joint venture between the Tata Group and the Tamil
Nadu Industrial Development Corporation (TIDCO). Titan is the fifth largest integrated
own brand watch manufacturer in the world. Over the last three decades, Titan has
expanded into underpenetrated markets and created lifestyle brands across different
product categories. Titan is widely known for transforming the watch and jewellery
industry in India and for shaping India's retail market by pioneering experiential retail.
Titan Industries Ltd was incorporated in the year 1984 and commenced their business
in the year 1986. The company set up an integrated watch manufacturing facility at
Hosur in Tamil Nadu in the year 1987 with initial technical know-how from Europe
and Japan.
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1.4.4 Apple Inc.
Apple Inc. is an American multinational technology company that specializes in consumer

electronics, computer software, and online services. Apple is the world’s largest
technology company by revenue (Totaling $274.5 billion in 2020) and, since January 2021,
the world’s most valuable company. As of 2021, Apple is the world’s fourth-largest PC
vendor by unit sales, and fourth-largest smartphone manufacturer. It is one of the Big
Five American information technology companies, along
with Amazon, Google, Microsoft, and Facebook.
Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976 to develop
and sell Wozniak’s Apple I personal computer. It was incorporated by Jobs and Wozniak
as Apple Computer, Inc. in 1977, and sales of its computers, including the Apple II, grew
quickly. It went public in 1980 to instant financial success. Over the next few years, Apple
shipped new computers featuring innovative graphical user interfaces, such as the original
Macintosh, announced with the critically acclaimed advertisement “1984”. However, the
high price of its products and limited application library caused problems, as did power
struggles between executives. In 1985, Wozniak departed Apple amicably, while Jobs
resigned to found NeXT, taking some Apple co-workers with him
As the market for personal computers expanded and evolved through the 1990s, Apple lost
considerable market share to the lower-priced duopoly of Microsoft Windows on Intel PC
clones. The board recruited CEO Gil Amelio, who prepared the struggling company for
eventual success with extensive reforms, product focus and layoffs in his 500-day tenure.
In 1997, Amelio bought NeXT, to resolve Apple’s unsuccessful operating system strategy
and bring back Steve Jobs, who replaced Amelio as CEO later that year. Apple returned to
profitability under the revitalizing “Think different” campaign, launching
the iMac and iPod, opening a retail chain of Apple Stores in 2001, and acquiring numerous
companies to broaden their software portfolio. In 2007, the company launched
the iPhone to critical acclaim and financial success. In 2011, Jobs resigned as CEO due to
health complications, and died two months later. He was succeeded by Tim Cook.
In August 2018, Apple became the first publicly traded U.S. company to be valued at over
$1 trillion and the first valued over $2 trillion two years later. It has a high level of brand
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loyalty and is ranked as the world’s most valuable brand; as of January 2021, there are 1.65
billion Apple products in use worldwide. However, the company receives significant
criticism regarding the labor practices of its contractors, its environmental practices, and
business ethics, including anti-competitive behavior and materials sourcing.
1.4.5 Seiko Holdings Corporation
Seiko Holdings Corporation (Seikō Hōrudingusu Kabushiki-gaisha), commonly known

as Seiko is a Japanese maker of watches, clocks, electronic
devices, semiconductors, jewelries, and optical products. Founded in 1881, it is known for
introducing one of the world’s first quartz wrist watches as well as the world’s first quartz
watch with a chronograph complication.
1.5 GDP contribution by that sector
Revenue in the Watches segment amounts to US$1,488m in 2021. The market is expected to
grow annually by 8.12% (CAGR 2021-2026).
In global comparison, most revenue is generated in China (US$15,838m in 2021).
In relation to total population figures, per person revenues of US$1.07 are generated in
2021.
By 2021, 81% of sales in the Watches segment will be attributable to Non-Luxury goods.
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Chapter 2:
Company Profiles
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2.1 Titan Company
2.1.1 Name & Location of Company
Titan Company Limited (Titan), a joint venture between the Tata Group and the
Tamil Nadu Industrial Development Corporation (TIDCO). Titan is the fifth largest
integrated own brand watch manufacturer in the world. Over the last three decades,
Titan has expanded into underpenetrated markets and created lifestyle brands across
different product categories. Titan is widely known for transforming the watch and
jewellery industry in India and for shaping India's retail market by pioneering
experiential retail. Titan Industries Ltd was incorporated in the year 1984 and
commenced their business in the year 1986. The company set up an integrated watch
manufacturing facility at Hosur in Tamil Nadu in the year 1987 with initial technical
know-how from Europe and Japan.
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2.1.2 Name & Location of Company, Year of Establishment
Titan Company Limited, Hosur, Tamilnadu, 1984

2.1.3 Brief History
 Titan Company Limited was inaugurated on 26 July 1984 under the name Titan
Watches Limited in Chennai. A plant was set up to manufacture quartz analog
electronic watches in the State Industries Promotion Corporation of Tamil Nadu,
Ltd. Industrial area at Hosur. In November 1986, Titan Company and Casio signed
a MoU proposing to manufacture 2 million digital and analog-digital watches. In
1989, a satellite case plant was set up in Dehradun, Uttarakhand at present with a
manufacturing capacity of 500,000 watch cases annually.
 In September 1993, the company changed its name to Titan Industries Ltd. as it
ventured into other range of products other than watches.
 In 1994, Titan launched its jewellery brand Tanishq.
 In 1998, the company launched its watch & accessories brand, Fastrack, targeted at
a younger audience in a bid to compete with Timex.
 In 2001, Titan launched kids’ watches brand, Dash. The brand saw poor
performance and was discontinued in 2003. In 2004, the company entered into an
agreement with Moet Hennessy Louis Vuitton Group, to service the latter's range
of watches in India through its customer care centres. In 2005, Fastrack was
positioned as an independent accessory brand targeting the urban youth. With the
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objective to become a fashion brand, Fastrack launched sunglasses in the same year
and launched bags, belts and wallets in 2009.
 Titan acquired Swiss watch maker Favre-Leuba in 2011 to enter the European
market. In 2013, Titan entered the fragrances segment with the brand Skinn and
later that year, it ventured into the helmets category under its brand Fastrack. In the
same year, it changed its name to Titan Company Ltd. In 2014, it entered into a
joint venture with Montblanc to establish its retail stores in India.
 In 2016, Titan opened prescription lens manufacturing facilities in Noida, Kolkata,
and Mumbai to improve its order processing time. In 2018, Titan merged
its jewellery brand, Gold Plus targeted at customers in South India with Tanishq to
establish the brand's presence in South.
 Taneira is an ethnic wear brand from Titan that retails hand-woven sarees from
different weaving clusters of India. The brand was launched in 2016. The first
retail store was opened in Bengaluru in 2017 with more stores followed in New
Delhi and Hyderabad.
 Also, Titan announced recently (during the last quarter of 2016) about launching a
series of affordable smartwatches under its brands like Sonata and Fastrack soon.
 In 2016, Titan entered the wearable devices market by introducing its smartwatch,
Juxt, made through a collaboration with Hewlett Packard. In 2017, the company
launched a fitness tracker, named Gesture Band under its youth accessories brand,
Fastrack. In the same year, it invested $3 million in a Singapore based wearable
tech company, CoveIoT. In 2018, the company added new fitness tracker bands.
The company had a 7.4% market share in the wearable devices market as of 2018.
2.1.4 Name of Founders and Promoters
 Xerxes Desai was the first managing director of Titan Company, an Indian
watchmaking company, and played an instrumental role in laying the foundation of
the company.
 Desai was a graduate of Elphinstone College (Mumbai University) and Oxford

University.
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 Desai joined Tata Administrative Services in 1961 after graduation, working at

several of their companies. He founded Titan as a joint venture with J. R. D. Tata in
1986, with support from the Tamil Nadu Industrial Development Corporation. He
had suggested the idea of a watchmaking company to Tata in the 1970s, who liked
it, but bureaucratic hassles took time till the company was opened in 1986 in Hosur.
 In 1994, Desai challenged engineers at Titan to design the world's thinnest watch,
with a movement 1.15mm thick inside a 3.5mm case. The watch, called the Titan
Edge was introduced in 2002.
 After Titan's success, Desai founded Tanishq, a jewelry brand. He had innovative
ideas like asking people in Bangalore to get their jewelry appraised in 1999. The
jewelry business grew over time, after a slow start.
 Desai retired in 2002, and was succeeded by his protégé Bhaskar Bhat.
2.1.5 Vision Statements
 Vision is to create elevating experiences for the people we touch and significantly
impact the world we work in.
2.1.6 Mission Statement & Values statement
 Mission Statement
 We will do this through a pioneering spirit and a caring, value-driven culture that
fosters innovation, drives performance and ensures the highest global standards in
everything we do.
 Values statement
 Total customer orientation
Customers take precedence over all else, always
 Employee appreciation
Employees are highly valued and respected assets and there is a constant
endeavour to fulfil their needs and aspirations
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 Performance culture and teamwork

High performance is a way of life and is nurtured by teamwork
 Creativity and Innovation
Titan differentiates itself using innovation and creativity
 Passion for excellence
Titan company ceaselessly strives for excellence
 Corporate Citizenship
The Company ensures that a part of its resources are invested in the environment
and community betterment
2.1.7 Organizational Structure / Hierarchy
CHAIRMAN
CEO
MANAGING
CIO DIRECTOR
CFO
PRODUCTION-
MARKETING- Supervisior ADMINISTRATION-
Customer Service -Designer Manager
-cutting
-As cutting
General Worker
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2.1.8 SWOT analysis of the companies

 SWOT analysis is an important devising method which is used to judge the
strengths, Weaknesses, Limitation, Opportunities, and Threats which is involved in
a job or a business enterprise. It is a well-established technique for the audit and
analysis of the overall strategic position of a business and its environment. It
contains determining the objective of the job or business enterprise and recognizing
the internal and external elements that are favorable and unfavorable to reach the
objective.
2.1.8.1 Strengths
1. Titan company has a huge grid of exclusive stores and service centers all over the
place.
2. Titan is famous for its great design and its great quality. Titan watches are favored
by each and every segment of people.
3. The company uses celebrities as their brand ambassadors to advertise itself.
4. Titan company’s watches are exported over more the 40 countries.
5. Titan is giving great customer service. Titan watches generally don’t need any
repairs and if they need the company to exchange the watch with the new one in
the warranty time.
6. Titan is one of the worlds 5ths and India’s 1st leading manufacturers
7. Various sub-brands below the brand titan have become successful in their
positioning.
8. The company has strong advertising and brand existence of titan.
9. Titan watches are used as a fashion statement.
10. Titan has come up with a world’s slimmest watch taken under the brand name Titan
edge.
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2.1.8.2 Weakness
1. Titan Company has to face problems to take up fake Copying

2. The company has not gone through the global market as some other international
watch manufacturer.
3. Titan watches are not completely water-resistant.
2.1.8.3 Opportunities
1. Seasonality: At the time festival, like Diwali titan promotes nebula, Bandhan
because there is a demand for the products. Gold watches and pairs are like wedding
occasion. The Fastrack watch is promoted in the month of June and august when
schools and colleges re-open.
2. Exchanging offer: All the titan stores provide an exchange offer to its customers of
any old watches, at any time, in any condition function or otherwise receive a flat
discount of 25% on their purchase of the brand-new technological and stylish
products.
3. India is underpenetrated retail for watches.
4. Titan company can target on more brand alertness and having watches catering to
every sector.
5. Overall development and tie-ups with global watches and jewelry brands.
6. Costumers favor owning diverse watches for a different time and movement with
increasing customer viewpoint.
2.1.8.4 Threats
From competitors -
1. Japanese- Citizen, Casio
2. Swiss- Rolex, Omega, Rado, Tissot, Tag Heur, etc.
3. Chinese watches
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4. Unorganized sector/ Grey market.

5. Mobile phones and wall clocks are a substitute to watches.
6. The fashion trend keeps on changing.
2.1.9 Values
 Customer first: Customers take precedence over all else, always.

 People make the brand: Titanians are at the heart of our success and that is why
their dreams and aspirations are at the forefront of our brand policy.
 Culture and teamwork: High performance is a way of life.
 Creativity and innovation: Driven by innovation and creativity, we focus on
smarter approaches and newer technologies.
 Passion for excellence: In all our pursuits, we ceaselessly strive for excellence.
 Corporate citizenship: We ensure that a part of our resources is invested in
environment and community betterment.
2.1.10 Awards
 The company has been awarded the following distinctions:

 Being named the No.1 Brand in the Consumer Durables category in the
"BrandEquity" Survey of The Economic Times, a leading Indian financial daily.
 The Titan Design Team won the Young Design Entrepreneur of the Year awardat
the design awards instituted by the National Institute of Design and BusinessWorld,
a leading Indian magazine. The team has won 7 accreditations also.
 Both Titan and Tanishq have been adjudged "Most Admired Brands" as well
as"Retailer of the Year" by Images Fashion Forum in consecutive years.
 Retail Asia and Media Magazine – Singapore adjudged Titan Industries asamongst
the leading Retailing Companies in India.
 Titan has won the Brand Leadership award at the India Brand Summit.
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 The Time Products Division of the company was awarded the JRD QV Award in
2006.
2.1.11 Titan & Brands
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2.2 Rolex Company

Rolex Watch Company Private Limited is a Private incorporated on 05 December

1947. It is classified as Non-govt company and is registered at Registrar of Companies,
Mumbai. Its authorized share capital is Rs. 50,000,000 and its paid up capital is Rs.
20,725,000. It is inolved in Manufacture of watches and clocks Rolex Watch Company
Private Limited's Annual General Meeting (AGM) was last held on 23 December 2020
and as per records from Ministry of Corporate Affairs (MCA), its balance sheet was
last filed on 31 March 2020. Directors of Rolex Watch Company Private Limited are
Catherine Thomson, Stefano Notari, Marius Pierre Davoli, Chirag Kirit Thaker.
2.2.2 Name & Location of other branches & Year of Establishment
ROLEX watch company private limited , Geneva, Switzerland, 1905.

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2.2.3 Brief History
 Alfred Davis and his brother-in-law Hans Wilsdorf founded Wilsdorf and Davis,
the company that would eventually become Rolex S.A., in London, England in
1905.Wilsdorf and Davis' main commercial activity at the time involved importing
Hermann Aegler's Swiss movements to England and placing them in watch cases
made by Dennison and others. These early wristwatches were sold to many
jewellers, who then put their own names on the dial. The earliest watches from
Wilsdorf and Davis were usually hallmarked "W&D" inside the caseback.
 In 1908, Wilsdorf registered the trademark "Rolex", which became the brand name
of watches from Wilsdorf and Davis. He opened an office in La Chaux-de-Fonds,
Switzerland. Wilsdorf wanted the brand name to be easily pronounceable in any
language, and short enough to fit on the face of a watch.He also thought that the
name "Rolex" was onomatopoeic, sounding like a watch being wound.
 In 1914, Kew Observatory awarded a Rolex watch a Class A precision certificate,
a distinction normally granted exclusively to marine chronometers. In November
1915, the company changed its name to Rolex Watch Co. Ltd.In 1919, Hans
Wilsdorf moved the company from England to Geneva, Switzerland because of
heavy post-war taxes levied on luxury imports and high export duties on the silver
and gold used for the watch cases. In 1920 the company's name was officially
changed to Montres Rolex S.A. and later to Rolex S.A.
 With administrative worries attended to, Wilsdorf turned the company's attention
to a technical challenge: the infiltration of dust and moisture under the dial and
crown, which damaged the movement. To address this problem, in 1926 Rolex
developed and produced a waterproof and dustproof wristwatch, giving it the name
"Oyster". The watch featured a hermetically sealed case which provided optimal
protection for the movement.
 Consumers at the time remained skeptical of a fully waterproof watch. As a
demonstration, Rolex submerged Oyster models in aquariums, which it displayed
in the windows of its main points of sale. In 1927, British swimmer Mercedes
Gleitze swam across the English Channel with an Oyster on her necklace, becoming
the first Rolex ambassador. To celebrate the feat, Rolex published a full-page
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advertisement on the front page of the Daily Mail proclaiming the watch's success
during the ten hour plus swim.
 In 1931, Rolex patented a self-winding mechanism called a Perpetual rotor, a semi-
circular plate that relies on gravity to move freely. Its system was the first
wristwatch to use a 360° winding rotor and would become the basis of all future
automatic watches throughout the industry. In turn, the Oyster watch became
known as the Oyster Perpetual.
 Upon the death of his wife in 1944, Wilsdorf established the Hans Wilsdorf
Foundation, a private trust, in which he left all of his Rolex shares, ensuring that
some of the company's income would go to charity. Wilsdorf died in 1960, and
since then the trust has owned and run Rolex S.A.
 Recent development
 Rolex SA is owned by the private Hans Wilsdorf Foundation, which is registered

as a charity and does not pay corporate income taxes. In 2011, a spokesman for
Rolex declined to provide evidence regarding the amount of charitable donations
made by the Wilsdorf Foundation.In Geneva where the company is based, it is said
to have gifted, among many things, two housing buildings to social institutions of
Geneva.
 According to the 2017 Brand Z report, the brand value is estimated $8.053
billion.Rolex watches continue to have a reputation as status symbols. It produces
more than 800,000 timepieces each year.It is said that "The power of the Crown is
never more felt than when trying to negotiate space in a retail environment for the
product of another brand".
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 Founded in 1905 as Wilsdorf and Davis by Hans Wilsdorf and Alfred Davis in
London, England, the company registered the word 'Rolex' as the brand name of its
watches in 1908, and it became Rolex Watch Co. Ltd. in 1915.After World War I,
the company moved its base of operations to Geneva because of the unfavorable
economy in the United Kingdom. In 1920, Hans Wilsdorf registered Montres Rolex
SA in Geneva as the new company name (montre is French for a watch
(timepiece)); it later became Rolex SA. Since 1960, the company has been owned
by the Hans Wilsdorf Foundation, a private family trust.Rolex respected late
founder, Hans Wilsdorf philosophy was-'Only great marketing is needed to make a
company successful'
2.2.5 Vision Statements
 Our Vision is to strengthen our leading position in the industry by providing the
most advanced products to facilitate contemporary lifestyle.
 The vision statement for Rolex is its strategic plan for the future – it defines what
and where Rolex Company wants to be in the future. The vision statement for Rolex
is a document identifying the goals of Rolex to facilitate its strategic, managerial,
as well as general decision making processes
2.2.6 Mission Statement and Values statement
 Our Mission is to always strive to provide quality of the highest standards, modern
design and prompt reesponsse to our valued clients, at the very best price.
 The mission statement for Rolex is a public document that details the values and
strategic aims of Rolex. The mission statement of Rolex also identifies the purpose
of the organization existence, highlighting the services and the products it offers.
Further, the mission statement also identifies the organization’s operational goals
for Rolex, the processes the company uses to achieve those, the target customer
groups, and the region where the company operates.
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 Organizational Structure / Hierarchy (if available) (along with diagram, also

explain the same in brief).
2.2.7.1 Strength
1. The brand is always associated with wealth, exclusivity and tradition; even the slogan is
reflecting those values: A crown for every achievement, giving potential buyers the feeling
of marking a milestone in their life when buying a Rolex.
2. Rolex is 3rd in sales regarding watches in Switzerland and 5th in personal accessories
overall in 2014 with 2.6% market share worldwide (Euromonitor, 2015). It´s one of the
most recognized watch brands on the market.
3. It even increases recognition by sponsoring in classic sport events like golf, sailing,
motor sports, tennis and equestrianism and celebrities wearing the watches like Tom
Kristensen (24-hour of Le Mans) or even Tiger Woods (14 major title winner).
4. The watches are available in over 100 countries worldwide and are exclusive, meaning
only hand picked retailer are able to sell Rolex watches. It is the biggest manufacturer for
luxury watches worldwide. The brand is always associated with wealth, exclusivity and
tradition; even the slogan is reflecting those
values: A crown for every achievement, giving potential buyers the feeling of marking a
milestone in their life when buying a Rolex.
The brand is always associated with wealth, exclusivity and tradition; even the slogan is
reflecting those
values: A crown for every achievement
Tiger Woods (14 major title winner).
4. The watches are available in over 100 countries worldwide and are exclusive, meaning
only hand picked
retailer are able to sell Rolex watches. It is the biggest manufacturer for luxury watches
worldwide.
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2.2.7.2 Weeknesses
1. There are a lot of alternatives nowadays that are increasing in market share as well
and are directly competing with the classic Rolex watch, thus
the maintenance of brand awareness is high (high costs).
2. The brand maintains the same values since the beginning of the establishment.
Newer or different target customers could be pursued through
other brands with other values than exclusivity and tradition for
example.
2.2.7.3 Opportunities:
1. Rolex has the chance to produce separate product lines with different brand
identities under the Rolex brand; even though they may not be
watches of some sort, the company will be able to spread the word
and continue to implant in their target’s minds that Rolex is a constantly emerging
company that isn’t afraid to evolve.
2. Emerging economies pose as a great opportunity to penetrate the market even
further and introduce their product lines to potential target markets
that never had the chance to even purchase one of their products
before.
3. Since Rolex has set a record with their line of Rolex DeepSea watches and this
particular watch was on the wrist of the diver who set the
record for deepest sea dive, it is perceived that the brand still has the
opportunity to push these records even further. If someone wanted to ever challenge
this deep sea diver that set the record, it is highly likely that the
new record holder will be wearing a Rolex watch.
4. Just like they have been doing in the past, Rolex should continue to release new
versions and options for consumers at the high income level
just so that they could keep this reputation going for the years to
come and keep their target market interested.
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2.2.7.4 Threats:
1. Rolex has this limited dealership on which companies they decide to supply to
along with long-waiting periods can result in the consumers
changing their supplier by switching to a competitor’s brand.
2. Fake imitations or companies trying to disguise as Rolex can also hurt the brand
image or the company’s reputation.
3. Every time Rolex may decide to introduce a new version in the upcoming years,
the more advanced technology used to construct the line of
watches may also increase the labor costs in the future as well.
Considering the costs of the watches or products to come in the future, the rate of
interest will also increase along with the cost of the raw
materials needed to construct the products.
2.3 Rado Company

Rado Industries Limited is a Non-govt company, incorporated on 21 Jun, 1993. It's

a public unlisted company and is classified as'company limited by shares'.
Company's authorized capital stands at Rs 150.0 lakhs and has 71.973335% paid-up
capital which is Rs 107.96 lakhs. Rado Industries Limited last annual general meet
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(AGM) happened on 29 Sep, 2017. The company last updated its financials on 31 Mar,
2017 as per Ministry of Corporate Affairs (MCA). Rado Industries Limited is majorly
in Business Services business from last 28 years and currently, company operations are
active. Current board members & directors are KAILASH GUPTA, RADHEY
GUPTA SHYAM and ANITA GUPTA . Company is registered in Delhi (Delhi)
Registrar Office. Rado Industries Limited registered address is 1/6473,STREET NO.5,
EAST ROHTASH NAGAR BALBIR NAGAR CHOWK,SHAHDARA NEW DELHI
DL 110032 IN.
2.3.2 Name & Location of other branches & Year of Establishment
RADO watch company private limited , lengnau Switzerland, 1917.
 Rado Industries Limited is a Non-govt company, incorporated on 21 Jun, 1993. It's

a public unlisted company and is classified as'company limited by shares'.
 Company's authorized capital stands at Rs 150.0 lakhs and has 71.973335% paid-
up capital which is Rs 107.96 lakhs. Rado Industries Limited last annual general
meet (AGM) happened on 29 Sep, 2017. The company last updated its financials
on 31 Mar, 2017 as per Ministry of Corporate Affairs (MCA).
 Rado Industries Limited is majorly in Business Services business from last 28 years
and currently, company operations are active. Current board members & directors
are KAILASH GUPTA, RADHEY GUPTA SHYAM and ANITA GUPTA .
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 Company is registered in Delhi (Delhi) Registrar Office. Rado Industries Limited

registered address is 1/6473,STREET NO.5, EAST ROHTASH NAGAR BALBIR
NAGAR CHOWK,SHAHDARA NEW DELHI DL 110032 IN.
2.3.3 Brief History
 Rado is a globally recognized brand, famous for innovative design and its use of
revolutionary materials to create some of the world’s most beautiful and durable
watches. Ever since its beginnings in Lengnau, Switzerland, Rado has been a
pioneer, with the brand philosophy “if we can imagine it, we can make it” still
holding true today.
 Our heritage of innovation continues

 2011 saw the advent of Rado‘s ultra-slim ceramic masterpiece: the True Thinline,
which measures in at an unbelievable 5 mm. In 2012 the sporty-chic Rado
HyperChrome built on the True Thinline’s case technology, doing away with the
previously required stainless steel "core" in favour of a sleek monobloc case. Rado
broke new ground in touch technology with the Esenza Touch (2013), a "crownless
wonder" that can be set with a simple touch and swipe, and the HyperChrome Dual
Timer (2014), a clever travel timepiece with a touch-controlled time zone swap
function. In 2015 Rado unveiled chocolate brown high-tech ceramic, a stylish
addition to Rado’s high-tech ceramic colour palette.
 The ceramic revolution
 The 90s saw the continued use of high-tech ceramic, now one of Rado’s signature
materials. The launch of the Rado Ceramica in 1990 introduced the world to a
completely integrated watch case and bracelet made of sapphire crystal and high-
tech ceramic. The Rado Sintra, launched in 1993, was the first Rado watch made
of cermet, a titanium-based ceramic combined with metal. In 1998 the Ceramica
was the first Rado watch chosen to feature pioneering plasma high-tech ceramic, a
fascinating colour and material combination that exudes a metallic glow without
the use of any metal at all
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 Schlup & Co. began selling watches under the Rado brand name in the 1950s. The
iconic Golden Horse collection made its debut in 1957, the same year that Schlup
& Co. celebrated its 40th anniversary. The Green Horse collection followed in 1958
and was one of the first Rado models marketed on its water resistance. By the end
of the decade, Rado was a truly international brand with a presence in over 61
countries.
 The Schlup & Co. watchmaking factory was founded by the brothers Fritz, Ernst
and Werner in 1917. Their humble atelier, a converted part of their parents’ home,
was the birthplace of the company that would later become Rado. Though Schlup
& Co. got off to a modest start, by the end of World War II the factory was among
the largest producers of watch movements in the world.
 Rado was first found in 1917 under the name Schlup &Co. by brothers Fritz, Ernst
and Werner Schlup. The brothers converted part of their parents home into a
watchmaking factory and though slowly at first, they grew and developed their
business. Their success was evident and by the end of World War 2, Schlup & Co.
had become one of the largest producers of watch movements in the world.
 The brand’s first major success was with the Golden Horse collection from 1957.
The new collection was one the first to come out under the Rado name. Following
in its steps, in 1958 the Green Horse collection was released. It was the first model
to be advertised for its water-resistance by Rado. Both these collections pioneered
a detail which has been seen in every automatic model to follow, the moving anchor
symbol on the dial. The 1950s also brought about international success, with the
brand expanding globally and reaching more than 61 countries. Rado is struggle
slogan was a "Rado.
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2.3.5 VISION STATEMENT :
 To provide high quality and trend setting watches that combine performance with
value pricing
 As it shapes its future direction, RADO is guided by a simple but powerful vision:
We want to supply our customers with sustainable, added-value solutions and enjoy
profitable growth, while at the same time reducing our company's ecological
footprint.Vision Rado strives to become one of the leading international seller and
dealer of quality authentic vintage & luxury Swiss watches of value online. RADO
is already the acknowledged rubber compound specialist in the automotive sector
in Germany, Austria and Switzerland. A broad customer base ensures the
sustainable stability and profitability of our company and opens up excellent
possibilities for the future. Our robust market position, innovative strength,
extensive product range and commitment to high-margin product solutions gives
us a competitive edge and makes us a preferred partner in the rubber sector.
2.3.5 MISSION STATEMENTS :
 To introduce a broad range of watches and clocks to satisfy all segments of society
 To strengthen HMT Brand and create lasting impression on the customer
 Rado is a Swiss luxury watchmaking company that was established during the year
1917 and is headquartered in Lengnau, Switzerland. It had launched its first scratch-
resistant watch during the year 1962. At present, the company produces about half
a million watches per year by having a staff of about 470 employees.
Rado is a globally recognized brand that is famous for its innovative design and its
revolutionary materials to create beautiful and durable watches. The watches from
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Rado makes use of materials like Carbide, Ceramics, and Sapphire Crystal. For the
past many years Rado watches have an approach of high-tech ceramic and has been
a major part in the watchmaking process.
High-tech ceramic timepieces are the main objects of art and craftsmanship. They
have a smooth stylish surface that can be metallic or matte that is crafted in
many colors. Rado watches carry a gentle approach to glamour. They are
lightweight, hypoallergenic and are highly comfortable to wear. Rado brand has
received many esteemed international design awards and it also collaborates with
leading designers to create new timepieces.
 It also runs Rado Star Prize competitions across the world for the budding young
designers. Design is the main foundation of Rado’s many groundbreaking
timepieces.
Through this article, let us discuss the SWOT analysis of Rado.
2.3.6.1 Strengths
 Entry into Guinness Book – Rado has entered into the Guinness Book of world
records with its creation of high tech diamond. It has strengthened its brand position
of being technically innovative in using the materials.
 Recipient of Awards – Rado brand has received many esteemed international
design awards and it also collaborates with leading designers to create new
timepieces. The brand has received almost 30 international design awards.
 Use of Innovative Materials – The main highlight of Rado watches is its usage of
innovative materials that are very broad in nature and not controlled to any
particular look.
 Association with Sports Events – Rado brand has been associated with many
sporting events, mostly Tennis. This association has helped Rado to gain an
international presence.
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 Brand Ambassadors – Rado brand has many brand ambassadors from the film and
the sports industries.
 Good Marketing Strategy – Rado brand has an
excellent advertising and branding strategy through online ads, print media, TVs,
and sponsored events.
 Increasing Profit – The main strength of this brand is that the companies profit
increases year to year and they also increase their turn over every year.
 Quality – Rado brand is famous for its quality. It makes use of superior mechanism
and technology.
 Rado Star Prize – As Rado is dedicated to its watch design, it is active globally
with its Rado Star Prize competitions. These prizes aim to support budding
designers by providing them a chance to show their design work and creativity to
experts.
2.3.6.2 Weaknesses
 Similar Fake Products – There were many cases of fake products of Rado being
sold in the market. This has hit the brand image of Rado watches and it is indeed a
great weakness to the brand.
 Less Market Share – Rado brand sees a lot of competition in the luxury watch
segment and due to which the company has limited market share.
2.3.6.3 Opportunities
 Expanding its Product Line – As Rado brand does not have any specific look for
its design, it being flexible with various options, there sees a lot of opportunities to
expand the product line without having an effect in the brand positioning.
 New Market – New emerging luxury market where there is a large number of
potential customers can be tapped on by the company to get more business
opportunities.
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 Tie-up – The brand can tie-up with another luxury brand to boost up its brand
value. It can also link itself to various celebrity events and entertainments to
increase its brand value.
Improvise of Product – Having an increase in the products can increase
its opportunity to produce more innovative products to gain more visibility in the
market.
Joint Venture with other Watch Companies – Rado brand can collaborate with
other watch companies to expand its business operations.
2.3.6.4 Threats
 High Competitors – Rado brand has high competitors in the luxury watch
segment. This is a big threat to the company as luxury watches are also produced
by many other watchmaking companies.
 Change in Economy – When there is a fluctuating economy, people will tend to
spend less on luxury items. This is also a serious threat to the company and its
impacts its revenue as well.
 Cheap Imitation of Rado Product – There arise some cheap imitation of the same
product produced by Rado company. Customers tend to purchase that thinking it is
of Rado brand but actually not. This is, in fact, a threat to the brand that leads to
brand degrading as well.
2.3.7 Controling systems

 Combining design and high-tech materials for watches that will stand the test of
time
 Rado is a globally recognised Swiss watch brand, famous for innovative design and
its use of revolutionary materials to create some of the world’s most recognisable
and durable watches. Ever since its beginnings in Lengnau, Switzerland, Rado has
had a pioneering spirit, with the brand philosophy “if we can imagine it, we can
make it” still holding true today.
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 The recipient of numerous prestigious international design awards, and with one
eye firmly focused on the future, Rado is regarded as the most forward thinking
design player in watchmaking today.
 Specialising in high-tech ceramic watches, Rado has gone from one breakthrough
to the next and has a long and proud history of innovation, continually introducing
the unexpected into Swiss watchmaking.
2.3.8 Objectives
 To develop innovative business model that supports production and marketingTo

develop and launch new models with contemporary styling Focused approach on
optimum utilization of resources
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Chapter 3:
Financial Management:
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3.1 Titan Company
3.1.1 Analysis of Financial Statements

Comparative Profit and loss Statement
Particular 2020- 2019-20 Absolute Percentage

21 change Change
Income
Excise Duty 0 0 0 0
Sales Turnover 20602 20009.64 592.36 102.9603731
Net Sales 20602 2009.64 18592.36 1025.158735
Other Income 44 146.41 -102.41 30.05259204
Stock Adjustments -164 835.81 -999.81 -19.62168435
Total Income 20482 20991.86 -509.86 97.57115377
Expenditure
Raw Material 15631 15399.22 231.78 101.5051412
Power & Fuel Cost 32 45.19 -13.19 70.81212658
Employee Cost 911 1040.12 -129.12 87.58604776
Selling and Admin 232 476.55 -244.55 48.68324415

Expenses
Miscelleneous 1931 1466.54 464.46 131.6704624

Expenses
Total Expenses 18737 18427.72 309.28 101.6783411
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Operating Profit 1701 2417.73 -716.73 70.35525059
PBDIT 1745 2564.14 -819.14 68.05400641
insert 181 149.48 31.52 121.086433
PBDT 1564 2414.66 -850.66 64.77102366
Depreciation 331 309.69 21.31 106.8810746
Profit Before Tax 1233 2104.97 -871.97 58.57565666
PBT 1233 2014.97 -781.97 61.19197804
Tax 356 587.34 -231.34 60.61225185
Reported Net Profit 877 1517.63 -640.63 57.78747125
Common Size Profit & Loss Account
Particular 2020- 2019-20 2020-21 2019-20

21
Income
Excise Duty 0 0 0 0
Sales Turnover 20602 20009.64
Net Sales 20602 2009.64 100 100
Other Income 44 146.41 0.213571498 7.285384447
Stock Adjustments -164 835.81 -372.7272727 570.8694761
Total Income 20482 20991.86 -12489.02439 2511.558847
Expenditure
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Raw Material 15631 15399.22 #DIV/0! #DIV/0!
Power & Fuel Cost 32 45.19 0.204721387 0.293456422
Employee Cost 911 1040.12 2846.875 2301.659659
Selling and Admin 232 476.55 25.46652031 45.81682883

Expenses
Miscelleneous 1931 1466.54 832.3275862 307.7410555

Expenses
Total Expenses 18737 18427.72 970.3262558 1256.543974
Operating Profit 0 0 0 0
PBDIT 1745 2564.14 102.5867137 106.0556803
insert 181 149.48 10.37249284 5.829634887
PBDT 1564 2414.66 864.0883978 1615.373294
Depreciation 331 309.69 21.16368286 12.82540813
Profit Before Tax 1233 2104.97 372.5075529 679.7022829
PBT 1233 2014.97 100 95.72440462
Tax 356 587.34 28.87266829 29.14882107
Reported Net Profit 877 1517.63 246.3483146 258.3903701
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Trend Analysis
Particular 2019-20 2020- 2019-20 2020-21

21
Income
Excise Duty 0 0 0 0
Sales Turnover 20009.64 20602 100 102.9603731
Net Sales 2009.64 20602 100 1025.158735
Other Income 146.41 44 100 30.05259204
Stock Adjustments 835.81 -164 100 -19.62168435
Total Income 20991.86 20482 100 97.57115377
Expenditure 100 #DIV/0!
Raw Material 15399.22 15631 100 101.5051412
Power & Fuel Cost 45.19 32 100 70.81212658
Employee Cost 1040.12 911 100 87.58604776
Selling and Admin 476.55 232 100 48.68324415

Expenses
Miscelleneous 1466.54 1931 100 131.6704624

Expenses
Total Expenses 18427.72 18737 100 101.6783411
Operating Profit 2417.73 1701 100 70.35525059
PBDIT 2564.14 1745 100 68.05400641
insert 149.48 181 100 121.086433
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PBDT 2414.66 1564 100 64.77102366
Depreciation 309.69 331 100 106.8810746
Profit Before Tax 2104.97 1233 100 58.57565666
PBT 2014.97 1233 100 61.19197804
Tax 587.34 356 100 60.61225185
Reported Net Profit 1517.63 877 100 57.78747125
Comparative Balance Sheet
Particulars 2019-20 2020- Absolutat Percentage

21 change Change
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 88.78 89 0.22 0.247803559
TOTAL SHARE CAPITAL 88.78 89 0.22 0.247803559
Reserves and Surplus 6575.97 7404 828.03 12.59175452
TOTAL RESERVES AND 6575.97 7404 828.03 12.59175452
SURPLUS
TOTAL SHAREHOLDERS 6668.75 7497 828.25 12.41986879
FUNDS
Minority Interest 4.4 5 0.6 13.63636364
NON-CURRENT LIABILITIES 0 #DIV/0!
Long Term Borrowings 16.97 9 -7.97 -46.96523276
Deferred Tax Liabilities [Net] 6.19 8 1.81 29.24071082
Other Long Term Liabilities 1060.81 1063 2.19 0.206446018
Long Term Provisions 166.21 156 -10.21 -6.142831358
TOTAL NON-CURRENT 1250.09 1236 -14.09 -1.127118847
LIABILITIES
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CURRENT LIABILITIES
Short Term Borrowings 2290.45 4366 2075.55 90.61756423
Trade Payables 596.71 789 192.29 32.22503394
Other Current Liabilities 2619.69 2529 -90.69 -3.461859991
Short Term Provisions 119.7 30 -89.7 -74.93734336
TOTAL CURRENT 5626.55 7714 2087.45 37.09999911
LIABILITIES
TOTAL CAPITAL AND 13549.7 16452 2902.21 21.41885594
LIABILITIES 9
ASSETS
NON-CURRENT ASSETS
Tangible Assets 2244.14 2157 -87.14 -3.883001952
Intangible Assets 266.28 243 -23.28 -8.742676881
Capital Work-In-Progress 11.52 19 7.48 64.93055556
FIXED ASSETS 2528.66 2432 -96.66 -3.822577966
Non-Current Investments 44.36 19 -25.36 -57.16862038
Deferred Tax Assets [Net] 159 105 -54 -33.96226415
Long Term Loans And Advances 153.5 158 4.5 2.931596091
Other Non-Current Assets 420.96 41 -379.96 -90.26035728
TOTAL NON-CURRENT 3429.49 3255 -174.49 -5.087928526
ASSETS
CURRENT ASSETS
Current Investment 113.57 2805 2691.43 2369.842388
Inventories 8102.98 8408 305.02 3.764294124
Trade Receivables 311.55 366 54.45 17.47713048
Short Term Loans And Advances 56.1 109 52.9 94.29590018
OtherCurrentAssets 1154.97 949 -205.97 -17.83336364
TOTAL CURRENT ASSETS 10120.3 13197 3076.7 30.40127269
52
Watch Industry
TOTAL ASSETS 13549.7 16452 2902.21 21.41885594

9
Common Size Balance Sheet
Particulars 2019-20 2020- 2019-20 2020-21

21
SHAREHOLDER'S FUNDS
Equity Share Capital 88.78 89 1.331283974 1.331283974
TOTAL SHARE CAPITAL 88.78 89 1.331283974 1.331283974
Reserves and Surplus 6575.97 7404 38750.55981 82266.66667
TOTAL RESERVES AND 6575.97 7404 38750.55981 82266.66667
SURPLUS
TOTAL SHAREHOLDERS 6668.75 7497 107734.2488 93712.5
FUNDS
NON-CURRENT LIABILITIES
Long Term Borrowings 16.97 9 0.125241793 0.054704595
Deferred Tax Liabilities [Net] 0 0 0 0
Other Long Term Liabilities 0 0 0 0
Long Term Provisions 166.21 156 7.40640067 7.232267038
TOTAL NON-CURRENT 1250.09 1236 469.4644735 508.6419753
LIABILITIES
CURRENT LIABILITIES 0 0
Short Term Borrowings 2290.45 4366 90.57959552 179.5230263
Trade Payables 596.71 789 1345.153291 4152.631579
Other Current Liabilities 2619.69 2529 1647.603774 2408.571429
Short Term Provisions 119.7 30 77.98045603 18.98734177
53
Watch Industry
TOTAL CURRENT 5626.55 7714 1336.599677 18814.63415

LIABILITIES
TOTAL CAPITAL AND 13549.79 16452 395.0963554 505.437788
LIABILITIES
ASSETS
NON-CURRENT ASSETS
Tangible Assets 2244.14 2157 16.5621755 13.11086798
Intangible Assets 266.28 243 1.97 1.477
Capital Work-In-Progress 11.52 19 0.09 0.1154
FIXED ASSETS 2528.66 2432 18.66 14.78
Non-Current Investments 44.36 19 0.33 0.1154
Deferred Tax Assets [Net] 159 105 1.17 0.6382
Long Term Loans And Advances 153.5 158 1.13 0.93
Other Non-Current Assets 420.96 41 3.17 0.249
TOTAL NON-CURRENT 3429.49 3255 25.31 19.78
ASSETS
CURRENT ASSETS
Current Investment 113.57 2805 0.84 17.04
Inventories 8102.98 8408 59.8 51.106
Short Term Loans And Advances 56.1 109 0.41 0.6625
OtherCurrentAssets 1154.97 949 8.52 5.768
TOTAL CURRENT ASSETS 10120.3 13197 8.27 80.215
TOTAL ASSETS 13549.79 16452 100 100
54
Watch Industry
Trend Analysis Balance Sheet
Particulars 2019-20 2020- 2019-20 2020-21

21
SHAREHOLDER'S FUNDS
Equity Share Capital 88.78 89 100 100.2478036
TOTAL SHARE CAPITAL 88.78 89 100 100.2478036
Reserves and Surplus 6575.97 7404 100 112.5917545
TOTAL RESERVES AND 6575.97 7404 100 112.5917545
SURPLUS
TOTAL SHAREHOLDERS 6668.75 7497 100 112.4198688
FUNDS
NON-CURRENT LIABILITIES
Long Term Borrowings 16.97 9 100 53.03476724
Deferred Tax Liabilities [Net] 6.19 8 100 129.2407108
Other Long Term Liabilities 1060.81 1063 100 100.206446
Long Term Provisions 166.21 156 100 93.85716864
TOTAL NON-CURRENT 1250.09 1236 100 98.87288115
LIABILITIES
CURRENT LIABILITIES
Short Term Borrowings 2290.45 4366 100 190.6175642
Trade Payables 596.71 789 100 132.2250339
Other Current Liabilities 2619.69 2529 100 96.53814001
Short Term Provisions 119.7 30 100 25.06265664
TOTAL CURRENT 5626.55 7714 100 137.0999991
LIABILITIES
TOTAL CAPITAL AND 13549.7 16452 100 121.4188559
LIABILITIES 9
55
Watch Industry
ASSETS
NON-CURRENT ASSETS
Tangible Assets 2244.14 2157 100 96.11699805
Intangible Assets 266.28 243 100 91.25732312
Capital Work-In-Progress 11.52 19 100 164.9305556
FIXED ASSETS 2528.66 2432 100 96.17742203
Non-Current Investments 44.36 19 100 42.83137962
Deferred Tax Assets [Net] 159 105 100 66.03773585
Long Term Loans And Advances 153.5 158 100 102.9315961
Other Non-Current Assets 420.96 41 100 9.739642721
TOTAL NON-CURRENT 3429.49 3255 100 94.91207147
ASSETS
CURRENT ASSETS
Current Investment 113.57 2805 100 2469.842388
Inventories 8102.98 8408 100 103.7642941
Trade Receivables 311.55 366 100 117.4771305
Trade Receivables 381.13 560 100 146.9314932
Short Term Loans And Advances 56.1 109 100 194.2959002
OtherCurrentAssets 1154.97 949 100 82.16663636
TOTAL CURRENT ASSETS 10120.3 13197 100 130.4012727
TOTAL ASSETS 13549.7 16452 100 121.4188559
9
56
Watch Industry
3.2 Rolex Company

Particular 2019 2020 Absolut Percentage

-20 -21 e Change
Change
Income
Excise Duty 0 0 0 0
Sales Turnover 6660 6163 -497 92.5375375

4
Net Sales 6660 6163 -497 92.5375375

4
Other Income 501 480 -21 95.8083832

3
Stock Adjustments 156 -292 -448 -

187.179487
2
Total Income 1385 1251 -1343 90.3081475

7 4 1
Expenditure
Raw Material 3137 3166 29 100.924450

1
Power & Fuel Cost 542 521 -21 96.1254612

5
Employee Cost 527 519 -8 98.4819734

3
57
Watch Industry
Selling and Admin 780 249 -531 31.9230769

Expenses 2
Miscelleneous Expenses 18 15 -3 83.3333333

3
Total Expenses 5004 4470 -534 89.3285371

7
Operating Profit 1308 1089 -219 83.2568807

3
PBDIT 1630 1206 -424 73.9877300

6
insert 322 117 -205 36.3354037

3
PBDT 986 1006 20 102.028397

6
Depreciation 265 254 -11 95.8490566
Profit Before Tax 721 752 31 104.299583

9
PAT 529 870 341 164.461247

6
Tax 2 -5 -7 -250
Reported Net Profit 203 5279 5076 2600.49261

1
58
Watch Industry
Particular 2019- 2020- 2019-20 2020-21

20 21
Income
Excise Duty 0 0 0 0
Sales Turnover 6660 6163
Net Sales 6660 6163 100 100
Other Income 501 480 7.522522523 7.788414733
Stock Adjustments 156 -292 31.13772455 -

60.83333333
Total Income 13857 12514 8882.692308 -

4285.616438
Expenditure
Raw Material 3137 3166
Power & Fuel Cost 542 521 17.27765381 16.45609602
Employee Cost 527 519 97.23247232 99.61612284
Selling and Admin 780 249 148.0075901 47.97687861

Expenses
Miscelleneous 18 15 2.307692308 6.024096386

Expenses
Total Expenses 5004 4470 27800 29800
0 0
Operating Profit 1308 1089
59
Watch Industry
PBDIT 1630 1206 124.617737 110.7438017
insert 322 117 19.75460123 9.701492537
PBDT 986 1006 306.2111801 859.8290598
Depreciation 265 254 26.87626775 25.24850895
Profit Before Tax 721 752 272.0754717 296.0629921
PAT 529 870 73.370319 115.6914894
Tax 2 -5 0.378071834 -
0.574712644
Reported Net Profit 203 5279 10150 -105580
Trend Analysis Profit & Loss Account
Particular 2019- 2020- 2019-20 2020-21

20 21
Income
Excise Duty 0 0 0 0
Sales Turnover 6660 6163 100 92.53753754
Net Sales 6660 6163 100 92.53753754
Other Income 501 480 100 95.80838323
Stock Adjustments 156 -292 100 -

187.1794872
Total Income 13857 12514 100 90.30814751
Expenditure
Raw Material 3137 3166 100 100.9244501
60
Watch Industry
Power & Fuel Cost 542 521 100 96.12546125
Employee Cost 527 519 100 98.48197343
Selling and Admin 780 249 100 31.92307692

Expenses
Miscelleneous 18 15 100 83.33333333

Expenses
Total Expenses 5004 4470 100 89.32853717
Operating Profit 1308 1089 100 83.25688073
PBDIT 1630 1206 100 73.98773006
insert 322 117 100 36.33540373
PBDT 986 1006 100 102.0283976
Depreciation 265 254 100 95.8490566
Profit Before Tax 721 752 100 104.2995839
PAT 529 870 100 164.4612476
Tax 2 -5 100 -250
Reported Net Profit 203 5279 100 2600.492611
61
Watch Industry

Particular 2020 2019 Absolut Percentag
-21 -20 e e Change
Change
share capital 239.8 239.8 0 100
1 1
share warrants & 0 0 0 #DIV/0!
outstanding
total reserve 3327. 2441. 886.28 73.365148
52 24 82
reserve excluding 3327. 2441. 886.28 73.365148
revolution 52 24 82
revaluation reserve 0 0 0 #DIV/0!
share holders funds 3567. 2681. 886.28 75.155648
33 05 62
minority interest 0 0 0 #DIV/0!
long term borrowing 0 0 0 #DIV/0!
secured loans 323.4 442.4 -118.98 136.78466
5 3 53
unsecured loans 0 0 0 #DIV/0!
deferred tax asset liabilities 324.0 569.4 -245.39 175.72363
6 5 14
other long term liabilities 0.67 0.94 -0.27 140.29850
75
long term grade payables 0 0 0 #DIV/0!
long term provision 210.4 210.2 0.2 99.904942
0 0 97
total non current liabilities 858.5 1223. -364.44 142.44683
8 02 08
current liabilities 0 0 0 #DIV/0!
current liabilities 0 0 0 #DIV/0!
62
Watch Industry
trade payables 1176. 738.4 437.88 62.776384

35 7 58
other current liabilities 449.1 270.0 179.07 60.127808
1 4 33
short term borrowing 1835. 1939. -103.54 105.64029
72 26 37
short term provisions 82.15 9.89 72.26 12.038953
13
total current liabilities 3543. 2957. 585.67 83.471198
33 66
total liabilities 7969. 6861. 1107.51 86.102689
24 73 84
assets 0 #DIV/0!
gross block 4709. 4475. 233.88 95.033846
48 60 62
net block 3723. 3742. -18.75 100.50350
91 66 3
lease adjustment accounts 0 0 0 #DIV/0!
capital work in progress 11.52 0 11.52 0
non current investment 0 0 0 #DIV/0!
long term investment 0 0 0 #DIV/0!
long term loan and 312.4 16.96 295.5 5.4278947
advances 6 71
other non current assets 135.0 28.53 106.53 21.123944
6 91
total non current assets 4182. 3932. 250.8 94.004231
95 15 46
current assets loans and 0 0 0 #DIV/0!
advance
current investment 0 0 0 #DIV/0!
inventory 1710. 1305. 405.02 76.324726
73 71 87
63
Watch Industry
sundry debtors 1708. 1276. 431.29 74.748976

01 72 88
cash and bank 104.1 164.3 -60.19 157.78055
7 6 1
other current assets 85.96 77.63 8.33 90.309446
25
short term loans and 177.4 105.1 72.26 59.271784
advances 2 6 47
total current assets 3786. 2929. 856.71 77.373365
29 58 48
net current assets 242.9 - 271.04 -
6 28.08 11.557458
02
miscellaneous expenses 0 0 0 #DIV/0!
not returns off
total assets 7969. 6861. 1107.51 86.102689
24 73 84

Particular 2020 2019 2020-21 2019-20
-21 -20
share capital 239.8 239.8 3.009195 3.00091
1 1 356
share warrants & 0 0 0 0
outstanding
total reserve 3327. 2441. 41.75 30.63

52 24
reserve excluding 3327. 2441. 41.75 30.6
revolution 52 24
revaluation reserve 0 0 0 0
share holders funds 3567. 2681. 44.76 33.6
33 05
minority interest 0 0 0 0
64
Watch Industry
long term borrowing 0 0 0 0

secured loans 323.4 442.4 4.05 5.55
5 3
unsecured loans 0 0 0 0
deferred tax asset 324.0 569.4 4.06 0
liabilities 6 5
other long term liabilities 0.67 0.94 0.0084 0
long term grade payables 0 0 0 0
long term provision 210.4 210.2 0 7.14
0 0
total non current liabilities 858.5 1223. 2.64 0.11
8 02
current liabilities 0 0 10.7 0
current liabilities 0 0 0 2.63
trade payables 1176. 738.4 0 15.34
35 7
other current liabilities 449.1 270.0 14.7 78.00
1 4
short term borrowing 1835. 1939. 5.63 9.26
72 26
short term provisions 82.15 9.89 23.03 3.3
total current liabilities 3543. 2957. 1.03 3.38
33 66
total liabilities 7969. 6861. 44.463 24.33
24 73
assets 100 0.12
gross block 4709. 4475. 0 37.11
48 60
net block 3723. 3742. 59.00 86.10
91 66
lease adjustment accounts 0 0 46.7 0
65
Watch Industry
capital work in progress 11.52 0 0 59.09

non current investment 0 0 0.144 46.11
long term investment 0 0 0 0
long term loan and 312.4 16.96 0 0.14
advances 6
other non current assets 135.0 28.53 3.92 0
6
total non current assets 4182. 3932. 1.69 59.9
95 15
current assets loans and 0 0 0 0
advance
current investment 0 0 0 0
inventory 1710. 1305. 5.25 3.92
73 71
sundry debtors 1708. 1276. 16.38 21.04
01 72
cash and bank 104.1 164.3 16.02 1.30
7 6
other current assets 85.96 77.63 2.06 1.69
short term loans and 177.4 105.1 0.97 9.26
advances 2 6
total current assets 3786. 2929. 1.31 5103
29 58
net current assets 242.9 - -0.3 25.25
6 28.0
8
miscellaneous expenses 0 0 0 58.14
not returns off
total assets 7969. 6861. 100 100
24 73
66
Watch Industry
Particular 2020 2019 2020-21 2019-20

-21 -20
share capital 239.8 239.8 3.009195 100

1 1 356
share warrants & 0 0 0 100

outstanding
total reserve 3327. 2441. 1.69 100

52 24
reserve excluding 3327. 2441. 1.07 100

revolution 52 24
revaluation reserve 0 0 0 100
share holders funds 3567. 2681. 3.04 100

33 05
minority interest 0 0 0 100
secured loans 323.4 442.4 44.76 100

5 3
unsecured loans 0 0 0 100
deferred tax asset liabilities 324.0 569.4 4.05 100

6 5
other long term liabilities 0.67 0.94 4.06 100
long term grade payables 0 0 0 100
long term provision 210.4 210.2 10.7 100

0 0
67
Watch Industry
total non current liabilities 858.5 1223. 14.7 100

8 02
current liabilities 0 0 0 100
current liabilities 0 0 0 100
trade payables 1176. 738.4 5.63 100

35 7
other current liabilities 449.1 270.0 1.03 100

1 4
short term borrowing 1835. 1939. 44.46 100

72 26
short term provisions 82.15 9.89 4.25 100
total current liabilities 3543. 2957. 59.0 100

33 66
total liabilities 7969. 6861. 0.144 100

24 73
assets 0 0 0 100
gross block 4709. 4475. 16.38 100

48 60
net block 3723. 3742. 16.02 100

91 66
lease adjustment accounts 0 0 0 100
capital work in progress 11.52 0 0 100
non current investment 0 0 0 100
long term investment 0 0 0 100
68
Watch Industry
long term loan and 312.4 16.96 3.92 100

advances 6
other non current assets 135.0 28.53 36.7 100

6
total non current assets 4182. 3932. 14.7 100

95 15
current assets loans and 0 0 5.63 100

advance
current investment 0 0 0 100
inventory 1710. 1305. 41.75 100

73 71
sundry debtors 1708. 1276. 25.2 100

01 72
cash and bank 104.1 164.3 36.7 100

7 6
other current assets 85.96 77.63 44.46 100
short term loans and 177.4 105.1 46.7 100

advances 2 6
total current assets 3786. 2929. 16.38 100

29 58
net current assets 242.9 - 14.7 100

6 28.08
miscellaneous expenses not 0 0 0.97 100

returns off
69
Watch Industry
total assets 7969. 6861. 100 100

24 73
3.3 Rado Company
Particulars 2020- 2019- Absolu Percenta

21 20 te ge
Chang Change
e
revenue from operations
other income 200157 25994 197558 7699.948

85 7 38 451
total revenue 200157 25994 197558 7699.948

85 7 38 451
expenses
employe benefit expense 37 36 1 102.7777

778
depreciation and 6600 6600 0 100

amortization expense
impairment loss/write off 109433 109433 #DIV/0!

on non current asset held 79 79
for sale
other expense 256148 31079 - 82.41612

4 89 546505 181
70
Watch Industry
total expenses 135115 31146 103968 433.8082

00 25 75 434
profit (loss )before items 650428 - 935896 -

and tax 5 28546 3 227.8465
78 382
exceptional item
profit (loss) before tax 650428 - 935896 -

5 28546 3 227.8465
78 382
tax expense
current tax
deferred tax
profit and( loss) for the 650428 - 935896 -

period 5 28546 3 227.8465
78 382
other comprehensive 0 #DIV/0!

income
items that will be not 0 #DIV/0!

reclassified to profit or loss
total comprehensive 650428 - 935896 -

income for the period 5 28546 3 227.8465
78 382
earning per equity share
71
Watch Industry
basic 0.40 -0.18 0.58 -

222.2222
222
diluted 0.40 -0.18 0.58 -

222.2222
222
Particulars 2020 201 2020- 2019-20

-21 9- 21
20
other income 2001 259 100 100

578 947
5
total sales 2001 259 100 100

578 947
5
expenses
employe benefit expense 37 36 0.0001 0.01384

84854 8977
depreciation and amortization 6600 660

expense 0
impairment loss/write off on non 1094 29576 0

current asset held for sale 337 700
9
72
Watch Industry
other expense 2561 310 38810. 47090.7

484 798 36364 4242
9
total expenses 1351 311 123.46 #DIV/0!

150 462 73495
0 5
profit (loss )before items and tax 6504 - 253.92 -

285 285 64348 91.8496
467 8158
8
exceptional item 0 0
profit (loss) before tax 6504 - 100 100

285 285
467
8
tax expense 0 0
current tax 0 0
deferred tax 0 0
profit and( loss) for the period 6504 - 0 0

285 285
467
8
other comprehensive income
items that will be not reclassified 0 0

to profit or loss
73
Watch Industry
total comprehensive income for 6504 -

the period 285 285
467
8
earning per equity share
basic 0.40 - 6.1497 6.30544

0.1
8
diluted 0.40 -
0.1
8
Trend Analysis Profit & Loss Account
Particulars 2020-21 2019-20 2020-21 2019-20
other income 2001578 259947 7699.94845 100

5 1
total sales 2001578 259947 7699.94845 100

5 1
expenses
employe benefit expense 37 36 102.777777 100

8
depreciation and amortization 6600 6600 100 100

expense
74
Watch Industry
impairment loss/write off on non

current asset held for sale
other expense 2561484 310798 82.4161218 100

9 1
total expenses 1351150 311462 433.808243 100

0 5 4
profit (loss )before items and tax 6504285 - - 100

285467 227.846538
8 2
exceptional item #DIV/0! 100
profit (loss) before tax 6504285 - - 100

285467 227.846538
8 2
tax expense
current tax
deferred tax
profit and( loss) for the period 6504285 - - 100

285467 227.846538
8 2
other comprehensive income #DIV/0! 100
items that will be not reclassified

to profit or loss
total comprehensive income for 6504285 - - 100

the period 285467 227.846538
8 2
75
Watch Industry
earning per equity share #DIV/0! 100
basic 0.40 -0.18 - 100

222.222222
2
diluted 0.40 -0.18 - 100

222.222222
2

Particlars 2020 2019 Absol Percent
-21 -20 ute age
Chan Change
ge
non current asset
property plant and equipment 1785 8385 6600 21.2880
1431
capital working progress 0 #DIV/0!
intangible assets 0 #DIV/0!
financial assets 0 #DIV/0!
0 0
long terms loan and advances 1288 1288 0 100
32 32
other non current financial assets 7546 7546 0 100
49 49
other non current assets 0 #DIV/0!
total non current assets 9102 9168 6600 99.2801
66 66 5653
current assets 0 #DIV/0!
76
Watch Industry
inventories 1695 16954 0

45 5
financial assets 0 #DIV/0!
cash and cash equivalents 5274 2126 - 2480.64
5559 284 50619 506
275
short term loan and advances 1330 1939 60920 68.5857
062 269 7 403
other current financial assets 2583 2581 -232 100.089
88 56 8681
pre payments 2585 1672 -9137 154.647
7 0 1292
other current assets 5471 2453 - 2230.26
95 5 52266 289
0
total current assets 5490 4534 - 1210.87
7061 510 50372 0877
551
non current assets held for sale 9262 4750 38237 19.4999
560 0401 841 617
total assets 6507 5295 - 122.904
9887 1777 12128 0661
110
equity and liabilities 6431 6431 0 100
6200 6200
equity 0 #DIV/0!
equity share capital 0 #DIV/0!
other equity 0 #DIV/0!
retained earnings - - - 96.0505
1581 1646 65042 5016
8409 8838 85
6 1
reserves representing unrealised 0 #DIV/0!
gains/loss
77
Watch Industry
other reserves 1318 1318 0 100

432 432
total equity - - - 93.4335
9254 9905 65042 8019
9464 3749 85
share application money pending 0 #DIV/0!
allotment
non current liabilities 0 #DIV/0!
financial liabilities 0 #DIV/0!
0000 0000
0 0
total non current liabilities 1510 1510 0 100
0000 0000
0 0
current liabilities 0 #DIV/0!
trade and other payables 8446 8136 - 103.810
15 14 31001 2835
other current financial liabilities 5140 1406 - 3654.01
686 86 50000 3903
00
other current liabilities 6440 5122 - 1257.27
50 6 59282 1698
4
total current liabilities 6629 1005 - 659.291
351 526 56238 8532
25
total equity and liabilities 6507 5295 - 122.904
9887 1777 12128 0661
110
78
Watch Industry

Particlars 202 201 2021- 2019-20
0-21 9-20 21
non current asset
property plant and equipment 178 838 0.0027 0.01583
5 5 42783 5163
capital working progress
intangible assets
financial assets
non current investment 250 250
00 00
long terms loan and advances 128 128 -
832 832 0.081
44434
4
other non current financial assets 754 754 #DIV/ -
649 649 0! 0.45822
8441
other non current assets
total non current assets 910 916 - 69.5421
266 866 0.983 531
54540
4
current assets
inventories 169
545
financial assets
cash and cash equivalents 527 212 34.930
455 628 83377
59 4
short term loan and advances 133 193 0.8808 1.28428
006 926 35762 4106
2 9
79
Watch Industry
other current financial assets 258 258 0.17096

388 156 4238
pre payments 258 167 3.0613
57 20 94837
other current assets 547 245 10.644 3.01555
195 35 39649 7746
total current assets 549 453 8525.2 3223.14
070 451 79249 2317
61 0
non current assets held for sale 926 475 139.72 92727.1
256 004 04643 3271
0 01
total assets 650 529 100 5266.07
798 517 7357
87 77

Particlars 2020- 2019- 2019-20 2020-21
21 20
non current asset
property plant and equipment 1785 8385 100 21.2880143

1
capital working progress
intangible assets
financial assets
long terms loan and advances 128832 128832 100 100
other non current financial assets 754649 754649 100 100
80
Watch Industry
other non current assets
total non current assets 910266 916866 100 99.2801565

3
current assets
inventories 169545 100 0
financial assets
cash and cash equivalents 527455 212628 100 2480.64506

59 4
short term loan and advances 133006 193926 100 68.5857403

2 9
other current financial assets 258388 258156 100 100.089868

1
pre payments 25857 16720 100 154.647129

2
other current assets 547195 24535 100 2230.26289
total current assets 549070 453451 100 1210.87087

61 0 7
non current assets held for sale 926256 475004 100 19.4999617
0 01
total assets 650798 529517 100 122.904066

87 77 1
81
Watch Industry
Titan Company Ratio
Operational & Financial Ratios
Earnings Per Share (Rs) 36.26
CEPS(Rs) 46.86
DPS(Rs) 0
Book NAV/Share(Rs) 148.76
Tax Rate(%) -15.65
Margin Ratios
Core EBITDA Margin(%) 17.66
EBIT Margin(%) 14.1
Pre Tax Margin(%) 12.2
PAT Margin (%) 14.11
Cash Profit Margin (%) 18.23
Performance Ratios
ROA(%) 11.73
ROE(%) 27.83
ROCE(%) 15.33
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Asset Turnover(x) 0.83
Sales/Fixed Asset(x) 1.34
Working Capital/Sales(x) 25.37
Efficiency Ratios
Fixed Capital/Sales(x) 0.75
Receivable days 88.38
Inventory Days 89.32
Payable days 64.34
Valuation Parameters
PER(x) 0
PCE(x) 0
Price/Book(x) 0
Yield(%)
EV/Net Sales(x) 0.43
EV/Core EBITDA(x) 2.34
EV/EBIT(x) 3.03
EV/CE(x) 0.33
M Cap / Sales 0
Growth Ratio
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Net Sales Growth(%) -7.46
Core EBITDA Growth(%) -14.13
EBIT Growth(%) -16.66
PAT Growth(%) 64.25
EPS Growth(%) 64.25
Financial Stability Ratios
Total Debt/Equity(x) 0.7
Current Ratio(x) 1.07
Quick Ratio(x) 0.59
Interest Cover(x) 7.43
Total Debt/Mcap(x)
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Rolex Company Ratio
Operational & Financial Ratios
Earnings Per Share (Rs) 36.26
CEPS(Rs) 46.86
DPS(Rs) 0
Book NAV/Share(Rs) 148.76
Tax Rate(%) -15.65
Margin Ratios
Core EBITDA Margin(%) 17.66
EBIT Margin(%) 14.1
Pre Tax Margin(%) 12.2
PAT Margin (%) 14.11
Cash Profit Margin (%) 18.23
Performance Ratios
ROA(%) 11.73
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ROE(%) 27.83
ROCE(%) 15.33
Asset Turnover(x) 0.83
Sales/Fixed Asset(x) 1.34
Working Capital/Sales(x) 25.37
Efficiency Ratios
Fixed Capital/Sales(x) 0.75
Receivable days 88.38
Inventory Days 89.32
Payable days 64.34
Valuation Parameters
PER(x) 0
PCE(x) 0
Price/Book(x) 0
Yield(%)
EV/Net Sales(x) 0.43
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EV/Core EBITDA(x) 2.34
EV/EBIT(x) 3.03
EV/CE(x) 0.33
M Cap / Sales 0
Growth Ratio
Net Sales Growth(%) -7.46
Core EBITDA Growth(%) -14.13
EBIT Growth(%) -16.66
PAT Growth(%) 64.25
EPS Growth(%) 64.25
Financial Stability Ratios
Total Debt/Equity(x) 0.7
Current Ratio(x) 1.07
Quick Ratio(x) 0.59
Interest Cover(x) 7.43
Total Debt/Mcap(x)
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Basic EPS (Rs.) 11.74
Diluted EPS (Rs.) 11.74
Cash EPS (Rs.) 16.17
Book Value [ExclRevalReserve]/Share (Rs.) 63.3
Book Value [InclRevalReserve]/Share (Rs.) 63.3
Dividend / Share(Rs.) 2.5
Revenue from Operations/Share (Rs.) 94.97
PBDIT/Share (Rs.) 20.86
PBIT/Share (Rs.) 16.43
PBT/Share (Rs.) 15.75
Net Profit/Share (Rs.) 11.74
PROFITABILITY RATIOS
PBDIT Margin (%) 21.96
PBIT Margin (%) 17.3
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PBT Margin (%) 16.58
Net Profit Margin (%) 12.35
Return on Networth / Equity (%) 18.54
Return on Capital Employed (%) 23.64
Return on Assets (%) 13.4
Total Debt/Equity (X) 0
Asset Turnover Ratio (%) 108.42
LIQUIDITY RATIOS
Current Ratio (X) 2.4
Quick Ratio (X) 1.46
Inventory Turnover Ratio (X) 5.59
Dividend Payout Ratio (NP) (%) 0
Dividend Payout Ratio (CP) (%) 0
Earnings Retention Ratio (%) 0
Cash Earnings Retention Ratio (%) 0
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VALUATION RATIOS
Enterprise Value (Cr.) 21,706.20
EV/Net Operating Revenue (X) 9.2
EV/EBITDA (X) 41.88
MarketCap/Net Operating Revenue (X) 9.2
Retention Ratios (%) 0
Price/BV (X) 13.81
Price/Net Operating Revenue 9.2
Earnings Yield 0.01
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Chapter 4:
Marketing Management
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4.1 Titan Company

4.1.1 Identify the types of goods and services
4.1.1.1 Watches
• Titan watches are one of India’s leading sellers of watches it bought a standard shift
in the Indian watch market with the technology having international style. Titan
watches have a wide variety of brands like Fastrack, Sonata, Octane, Raga, and
XYLYS. The Company earned the revenue of 2000 crores in the year 2018 almost 10%
of the total company.
4.1.1.2 Jewelers
• Xerxes Desai started the journey of brand Tanishq in the year 1995. It started
establishing a well- repudiated jeweler system prevalent in India. Offering classic and
modern pieces in platinum, gold, and diamond, taking into a reflection of every
costumer’s individual needs and preferences. Tanishq has also won the coveted “Effie
award”.
4.1.1.3 Spectacles
• Titan Industries occupied the fashion attachment industry with the launch of
sunglasses. Titan Eye+ provides Indian consumer a world-class visual retail experience
through products which comes in a different modern design and styles, Titan Eye+
collaborated with Sankara Nethralaya, India’s one of the leading eye care institute.
4.1.1.4 Perfume
• In the year 2013 Titan Company released more than 6 various types of perfumes in
the retail market with the name of the brand called ‘SKINN’. The Company came in
contact with the worlds-famous trending perfumes including Nose Olivier and Alberto
Morillas. SKINN became one of the trusted brands in India. The Company makes the
perfume business famous for offering products to customers.
4.1.2 Identify the Target Market
As previously said, Titan has about 11 brands along with rights to selling a few popular
international brands like Tommy Hilfiger, Lee Cooper etc.
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Titan Helios
Titan Clock Titan Raga
Fastrack Favre-Leuba
Sonata Nebula
Zoop SF
Octane Tanishq
Xylys Mia
Zoya CaratLane
Titan Eyeplus Skinn
4.1.3 Identify the market share
 Global Market Sales of Rolex Company is 26.8%.
4.1.4 Distribution Channels
 franchisee
 retail outlets – the Titan Shops
 Titan Dealers
 Traditional watch shops
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 Non-Traditional (Non-Watch) Outlets

 Customer
4.1.5 Consumer Buying Decision Process
Problem
Recognition
Information
Seeking
Evaluation of
alternatives
Buying
Decision
Post Purchase
Evaluation
4.1.5.1 Problem Recognition
 Dissatisfaction with a current product or service

 Outdated
 Lifestyle
4.1.5.2 Information Seeking
 Personal Sources : Friends, Neighbours

 Commercial Sources : Advertising
Ex. 20% off on exchange
4.1.5.3 Evaluation of alternatives

 Durability
Ex : Japanese – Citizen, Casio, Timex
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 Features
Ex : Rolex, Omega, Swatch
 Price :
Ex : Chinese Watches, Unrganized Sector/Grey Market
4.1.5.4 Buying Decision

 Personal Factors
 Age
 Occupation
 Economic Situation
 Personality
 Psychological Factors
 Perception
 Belifes & Attitudes
 Availability & Accessibility
 Other Factors
 Brand Name
 Price
 Appearance
 Warranty
 Technical Specification
 After sale service
4.1.5.5 Post Purchase Evaluation
 After sale Service

 Loyalty Cards – Signet
 Exclusive offers on watches and eye gear at world of titan, Titan Watch Care
Centres as well as on other premium brands
 Being the first to know about new product launches & invites to previews
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 Free gift delivery service though the world of titan

 Priority Service at the Titan Watch Care Centres
4.1.6 Identify the digital marketing tools used by the company
Artificial Intelligence has been a trending topic for a few years now and as the technology
continues to improve, it is becoming an increasingly integral part of a well-rounded digital
marketing strategy. As new uses for AI are being developed, it is important for marketers
to stay on top of the trend. Any opportunity to save time, money, and better cater to your
audience’s needs and wants, is worth the effort.
 Automated Processes Save Time and Money
 Despite the growth of AI technology, human insight is still vital. AI is becoming a

crucial part of a modern paid media strategy. Paid search managers benefit from
the opportunity to focus on bigger-picture strategy initiatives by automating the
more mundane tasks that can take up a lot of time without automation. Spending
less time on repetitive tasks, such as budget pacing and adjusting bid values, can
increase productivity significantly.
 The digital marketing use cases for AI don’t stop here. We elaborate more on those
in our recent article on Paid Search Trends for 2019.
 AI for Content Creation and Curation
 Creating quality content is a key part of building authority within your industry or
niche. Building authority is necessary for improving organic rankings and visibility
in the SERPs. Marketers may be hesitant to let AI take the reins and create content
autonomously, but this technology is closer than one may think. Content that’s at
least partly generated by AI is currently being published by several global brands,
including Forbes.
 AI-software can also parse through web traffic data and curate content
recommendations based on searcher intent. Again, this is an example of artificial
intelligence cutting down on time spent on a repetitive task, in this case determining
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content topics and publishing content on the most effective channel at the optimal
time.
 Now that marketers will have more time on their hands, they can allocate that time
to work on strategic growth strategies, face-to-face communication, and other areas
where the human touch is more valuable than AI.
4.1.7 Sales force management
 Titan gets phygital with Salesforce
“Through Salesforce, we could replicate the entire offline shopping experience online,”
says Sanjay Bhattacharjee, Titan’s Head of Customer Relationship Management, who
led the company’s digital transformation. “Today, wherever the customer is—be it in
our stores, or on our websites—we’re able to instantly recognise them, personalise our
interactions, and deliver unforgettable experiences.”
 Getting up close and personal with customers in the moments that matter
 Through Salesforce, the company now has a single view of the customer across
brands. When a new customer enters a Titan store, sales officers capture KYC
data on their devices. This information is stored on Salesforce and accessed by
almost 6,500 front-line employees through a partner portal built on Salesforce
Experience Cloud.
 So, the next time the customer walks into any Titan store, their details can be
pulled up in an instant. Sales officers can quickly check the customer’s past
purchases, loyalty program tier, reward points, and more. These insights make
customer conversations much more personalised and relevant. And happy
customers translate into higher sales.
 “We’ve seen conversions increase by 3%-4% when our sales officers have a
complete view of customers,” says Bhattacharjee. “The top 110 Tanishq stores
that actively use Salesforce have reported 12% more repeat customers than
those that don’t.”
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 The platform also captures the contact details of non-buyers. By systematically

engaging and nurturing these prospects, Titan EyePlus stores have reported a
7%-10% win-back rate.
 In addition, sales reps use Salesforce for Key Account Management. They can
easily track and audit calls to the customer, thus minimising repeat calls.
 Crafting seamless phygital journeys
 Titan now offers customers a smoothly orchestrated experience across physical

and digital touchpoints.
 Let’s say a customer from Ahmedabad is browsing the Titan website. A live
chat agent instantly identifies her, understands that she wants to try on a watch,
and zeroes in on a store close to her that stocks the product. The lead is
transferred to the store manager who then uses Salesforce cloud telephony
integration to call and invite the customer to the store. He even offers to
organise a product trial at her house.
 “The whole customer journey from online to offline is frictionless, thanks to
Salesforce,” says Bhattacharjee.
 Meanwhile, cross-selling and up-selling have improved because brands can
easily share information. If a bride-to-be buys an engagement ring from
Tanishq, she can instantly be tagged in Salesforce as a hot lead for Taneira to
market their wedding saris.
 “Soon, Einstein Next Best Action will automatically recommend products to
upsell to the customer based on their purchasing history,” says Bhattacharjee.
 This customer-centric approach doesn’t stop at sales—it continues into service.
Titan can consolidate customer queries from across touchpoints on Salesforce
Service Cloud. At the click of a button, service agents can view the customer’s
entire profile and history to resolve their queries faster and more meaningfully.
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 “Customers are reporting higher levels of satisfaction across the business,” says
Bhattacharjee. “In fact, our net promoter score increased 10 points over the past
year.”
4.2 Rolex Company
1 Submariner The reference among divers' watches.

2 Date just The classic watch of reference.
3 Oyster Perpetual The essence of the Oyster.
4 Explorer The call of the peaks.
5 Sky-Dweller Keeping track of time across the world.
6 GMT-Master II The cosmopolitan watch.
7 Day-Date The ultimate watch of prestige.
8 Product and purse watch ( jewelery)
9 Wrist watch ( premium and sports).
4.2.2 Identify the target market

The target of Rolex is both men and women. Rolex makes watches to suit the taste
of both men and women and are preferred by both the sexes. The market segment that
the company has placed its product in is the luxury market, and the prices are high as
they are placed in the luxury market
If rolex wanted to introduce a new target market that competes directly with Timex in
providing consumers with durable , affordable and stylish watch , this would greatly
negatively affect consumers perception regarding the Rolex brand . Such a strategy
would erode and dilute the image of the brand in the eyes of the original target market
and would therefore not appeal to their emotional spending .A better way for a
company to introduce a new target market for its products is by producing another
range of product differently and to completely not associate it with the high valued
brand product.
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4.2.3 Identify the market share
 Manufacturer
 Distributer
 Retailer and
 Factory outlet
 Consumer
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4.3 Rado Company

4.3.1.1 True Ceramics pioneers
Rado scientists have been exploring ceramic for over 35 years. This cumulated know-
how and experience is visible in all their high-tech ceramic products, in particular their
unique monobloc cases and highly original high-tech ceramic bracelets, in a number of
models
4.3.1.2 Modern alchemy

Special treatment for a special substance... High-tech ceramic goes through a number
of transformative treatments, to take it from organic powder to complex product with
unique visual and tactile properties. Qualities such as colour, shade or brilliance can be
further fine-tuned, thanks to Rado's own, unique plasma high-tech ceramic process
4.3.1.3 Ongoing discoveries from the Master of Materials

The passion for research and development at Rado has brought the world a number of
new substances, many of which are now used in the production of their uniquely
recognizable and exquisite watches.
4.3.2 Identify the Target Market

Target Marketing - Graphic These technique target consumers based
oncharacteristics they already have such as age, psychological profile, and special interests.
4.3.2.1 Demographic Targeting
This is the most common, and general targeting technique. Demographics targetmarketing
is based on consumers' vital statistics such as age, sex, location, income,etc.Though
superficial; demographics can play a useful role in your marketing strategy.
4.3.2.2 Psycho-graphic Targeting

Though this sounds like a psychological technique, it's really a target marketingtechnique
because it targets consumers based on their pre-existing psychologicalcharacteristics.
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These characteristics can be general, such as conservative or liberal,outgoing or

introverted, social or private.
4.3.2.3. Niche marketing

Niche marketing simply means finding a specific group of customers from withina larger
group of customers and basing your small business marketing strategy on that.
Marketing Strategy Click For example, let‟s say you want to start a restaurant.
'Restaurants' is a large category with lots of competition. Niche marketing should
beapplied.The trick to using niche marketing as part of your marketing strategy is to
choosea niche that's small enough for you to dominate, but big enough to be profitable.
4.3.2.4 Psychological Marketing Techniques

These are marketing techniques that actually place a thought, impression orfeeling into the
minds of consumers.
1. Positioning
2. Branding
3. Focus
4. Differentiation
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4.3.3 Identify the market share.

4.3.4.1 PURCHASE OF GOODS, ORDER PROCESS
Your order for a product shall be regarded as an offer to purchase products under
these conditions of sale.
After placing an order, you will receive an email from us acknowledging that we
have received your order. Please note that this does not mean that your order has
been accepted.
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Product and service descriptions are correct at the date of publication but are subject
to availability or change without notice. We cannot be held liable or responsible for
errors in photography or typography.
The contract will relate only to those products whose dispatch we have confirmed
in the order confirmation. We will not be obliged to supply any other products which
may have been part of your order until the dispatch of such products has been
confirmed in a separate order confirmation.
4.3.4.2 PRICE AND PAYMENT

The price of any product will be as displayed on this website from time to time,
except in cases of obvious error. When you buy a product from this website, you
will have to pay the price displayed (which is inclusive of VAT at the current
rates) together with delivery costs, which, if applicable, will be added to the total
amount due as set out in our guide to delivery costs (Delivery and Returns).
Prices are liable to change at any time, but changes will not affect orders in respect
of which we have already sent you an order confirmation.
Payment must be made before supply of the products. We will deduct full payment
from your credit/debit card just before we ship the products. We may suspend
delivery of the products until full payment is received. We may terminate the
contract between you and us with immediate written notice if you fail, without good
reason, to pay on time.
4.3.4.3 DELIVERY
Delivery will normally take place within 2-5 days (but subject to a maximum of 30
days) after the date of order unless specifically otherwise agreed at the time of
making the order. If separate products from your order may be available at
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different times, then we may give you the option of receiving your order in
instalments.
The place of delivery is as stated in the order confirmation. We will deliver within
the UK only.
If we cannot meet the estimated delivery date indicated in the order confirmation
and the revised delivery date will exceed 30 days from the original date of order,
then we will contact you to advise you of a proposed new date for delivery. If you
refuse the revised delivery date and we are unable to deliver the product(s) within
30 days from the original date of your order or prior to the specifically agreed
delivery date if applicable, then you may cancel the order without charge and obtain
a full refund. Where the products are delivered in instalments, then, unless expressly
otherwise agreed at the time of placing the order, these instalments will be delivered
within 30 days of placing the order.
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Chapter 5:
Human Resource Management
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5.1 Titan Company

5.1.1 Core values of the organization
Creativity and innovation: Driven by innovation and creativity, we focus on smarter

approaches and newer technologies.
Passion for excellence: In all our pursuits, we ceaselessly strive for excellence.
Corporate citizenship: We ensure that a part of our resources is invested in

environment and community betterment.
5.1.2 Process of Recruitment using their website
Recruiting and training new employee is main function of the HR department. This part of
task generally brings about advertising open positions, obtain candidates, interviewing and
separately time devoted to train new recruits. The Human Resource department generally
produce training materials and handbooks describing all the aspect of job.
By using the right methodologies for selection of eligible candidates, we are able to achieve
success, no matter which profile we are hiring for. Our selection process is as follows:
Phase 1 - Define Objectives and Specifications
 Analysis of the Business Environment and work culture of the client
 Collection of details to prepare Job specification and description
Phase 2 - Begin our comprehensive search
 Search starts with the in-house and external database
 Database mining is done along with intensive networking
 Candidate screening and evaluation is done (ensuring complete match as per skill
set and cultural aspect)
 Short listing for the client to choose from
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Phase 3 - Interviews and feedback.
 Interview scheduling
 Follow-ups with company and candidates
 Candidate briefing post the interview
5.1.3 Training initiatives taken by the organization
HR assume a vital job being developed and development of each association and so far as
that is concerned of each organisation. Among every one of the variables of creation just
HR are living creatures and have boundless abilities. Such capability of people can be
produced to support association by applying appropriate techniques. A proficient and
fulfilled HR is the hugest factor in accomplishing authoritative adequacy and
administration brilliance. The attention is presently on improving worker association in
disguising hierarchical destinations through energetic Human Resource Development
endeavors keeping in mind the end goal to discharge the springs of dynamism and
imagination of the two people and also work gatherings. In perspective of the significance,
the present examination features the HRD practices of Titan Company. The investigation
depends on auxiliary information sources which have been gathered from yearly reports,
HR manuals of Titan organization.
5.1.4 Employee benefits and facilities
5.1.4.1 Promotion and Compensation

Titan Company promotes its employees based on their good performance.
And it ensures that employees are able to handle their position at a given
responsibility to give training to fresh employees. Senior-level promotion is
given when the employees are having long work service in the company say
for the period of 20 years’ experience in the company. Compensation comes
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under the management of the human resource officer and the company pays
remuneration to their employees based on ranks or position. The company
pays salary on a monthly basis whether the employee gets retired or met with
an accident the company gives compensation and retirement benefits to retired
employees.
5.1.4.2 Employees Performance Improvement Plans
The Human Resource department must be pledged to protect the employee’s prosperity,
their advancement inside the company, encouragement. Checking the environment where
they work, offering motivation, triggering the development programmer are just a few
examples of the work they going to do in the company.
5.1.4.3 Performance Appraisal
Titan Company Ltd Conducts Performance Appraisal during the financial year ending and
it evaluates the job performance of the employees-based quality, Quantity, Cost, and
reviews within the company. It mainly focuses on giving feedback to employees, to check
whether more training is required for the employees like salary hike, Promotion, equal
employment opportunity, and developing skills of employees. If the employees go behind
the limit they are terminated from the job.
5.1.5 Health and safety related practices
TITAN Group Health and Safety Council is chaired by the Chairman of the Executive
Committee and constantly reviews safety performance against set targets while seeking
further advancement of best practices in all TITAN operations.
Employee Health and Safety Committees are responsible to develop proposals addressing
material issues and continuous improvement of working conditions.
In 2017 we introduced our health surveillance system for dust, respirable crystalline silica
and noise, to streamline the health surveillance efforts across the Group.
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Safety risk assessment and performance of all our sites are the trigger of both local and
Group-wide efforts, as appropriate. By careful planning, target setting and monitoring, we
have achieved significant improvements over the past years.
We aim to provide a safe and healthy workplace and remain among the top companies in
our sector in Lost Time Injury Frequency Rate for employees.
Since 2017, we follow Group Health Surveillance Guidelines for dust, respirable
crystalline silica and noise, streamlining the health surveillance efforts across the Group.
We have invested significantly over the years to raise awareness among young and help to
nurture a generation which will help create a healthier and safer living environment. We
have joined efforts with the “Board of European Students of Technology (BEST) since
2012 and we have hosted more than 1,050 engineering students for safety training at the
TITAN cement plants in Greece. We also work with communities and public education, in
all regions and countries.
Only in Greece, more than 60,000 children up to junior high school level have followed
our “Safety at Home” workshops, run by TITAN volunteers. In N. Macedonia, a similar
program with all public schools from the neighboring Municipalities focuses on building
together a safer and greener school environment sharing know-how, expertise and
resources, financial and non-financial.
5.1.6 CSR practices of the organization
5.1.6.1 CSR Initiatives
• Education - Titan Kanya - educating the Girl Child - Titan Scholarships - Based on need
and merit - Titan School and Titan foundation for education
• Employing the differently-abled
• Karigar parks/centres
• Women's empowerment
• Skill development - basic training centre and Unnati programme
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• Environment management programmes.
5.1.6.2 Successful CSR programmes
Titan Scholarship - Have been awarded to students in Dharmapuri and Krishnagiri districts
(Tamil Nadu), based on academic performance and socio-economic background for over
550 students form the economically backward section. In 2013-14, this programme has
been extended to Uttarakhand.
 Titan Township
A sustainable community in Hosur (Tamil Nadu), that provides housing to 1300

residents collaborating with NGOs MCA and Ashraya.
 Employment for differently-abled
Over 120 differently-abled individuals are employed at our watch and jewellery
plants at Hosur.
 Karigar Park/Centres
A social entrepreneurship project which houses jewellery karigars in over 14 parks

/ centres, wherein the company provides the equipment, material and training and karigars
use their skill sets in producing jewellery of the highest standards and design. The company
ensures the best working conditions and safety practices are followed in the manufacturing
process. The Karigar centres also provide the karigars with boarding, lodging, recreation
and gymnasium facilities. Currently about 1400 karigars have benefitted from this.
 Titan School and Titan Foundation for Education
A primary english medium school upto class X, affiliated with CBSE, with over
700 students, has been created and supported by Titan Company.
 Titan Kanya - Educating the Girl Child
A pan-India programme to empower the girl child by ensuring that she completes
her primary education upto class X. About 5000 girls have benefited from this programme.
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5.1.7 HRIS Scope Role

 Lead process configurations on the Success Factors platform
 -Anchor the end to end system integration & support on Performance Management
& Goal Management modules for the PMS process
 Lead the go-live process of the Succession Planning module on Success Factors
 Anchor the end to end system integration & support on LMS module of Success
Factors
 Evaluate options for customization & support the implementation of the same.
 Leverage online solutions to automate to the extent possible all steps of the
processes
 Maintain the robust of the solution & de-risk process failures
 Liaison with the IT team for technical upgrades/developments on the portal
 Equip & support the end users with the know-how of usage & implementation of
the mentioned modules
 Support users in all locations with regard to queries & trouble shooting
 Co-ordinate and ensure user support training.
5.2 Rolex Company

5.2.1 Company's vision and mission about their employees
Comparably data clearly shows that a focused mission statement and cohesive core company values are vital
to maintaining employee alignment.
The core values are not easily observable. The Rolex’s core values are the shared goals,
principles and standards. These core values are accountability, diversity, quality,
collaboration, passion, integrity and leadership. The Rolex management understands
the importance of communicating the core values so that each employee could accept
and modify the behavior accordingly.
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5.2.3 Process of Recruitment using their website
5.2.3.1 Applying for a Job at Rolex Watch
You may want to use pre-made formats for your cover letter and résumé, such as those
provided by Microsoft Word. You may want to alter these, however, so that your résumé
stands out. Be sure to also change the keywords included in your résumé so that they match
the job description listed by Rolex Watch USA.
5.2.3.2 Interview
When you go in for the interview at Rolex Watch USA expect to face some challenging
questions. They often like to ask you to describe a past situation when you overcame a
challenge. They also want to see how you work with other employees.
5.2.3.3 Online Screening Exam
Companies who require candidates to take assessments are looking to hire applicants who
can demonstrate the required skills, be they verbal, numerical, logical, or mechanical skills.
Mastering skills, acquiring and sharing knowledge, along with the continuous
quest for perfection are key aspects of training at Rolex. For several decades, the
company has been creating training programmes and methods to suit its various
professions and support its employees’ career development. From initial training
to continuing on-the-job tuition and specialist courses, a considerable range of
resources are available. They enable the brand to pass on its carefully curated
heritage of skills, practices and Rolex-specific knowledge.
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Rolex’s investment in training – which goes beyond the scope of watchmaking

and benefits all sectors – has three objectives: to ensure progress, allow skills to
be developed within the company, and pass on the company’s unique culture.
Rolex offers the same training opportunities to all its employees, whether they
are based in Geneva, home to the brand’s world headquarters and three
production sites, or in Bienne, where the movements are made.
The training of these future professionals combines periods of practical training

within the company and theoretical classes in a vocational college each week –
in line with the legal framework governing apprenticeships, which are very
popular in Switzerland. The importance Rolex places on this “dual” education
system and its evolution has led the brand to become actively involved with
relevant official governing bodies.
5.2.5 CSR practices of the organisation
CSR s embedded in the business philosophy of Rolex. At Rolex, the business

operations and processes are designed in a way that they do not become an obstacle or
a burden in the way of people’s and the environment’s wellbeing. At the same time,
these processes and designs boost business growth. The systematic design of operations
at Rolex enables the management to ensure that the organization achieves sustainable
business growth by reducing attached risk factors as well as through community
building goals and ambitions. Rolex strives to increase its social impact and influence
on the environment and in people’s lives- by focusing on three big goals.
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5.3 Rado Company

Our employees are our greatest asset and are vital to RADO's success. As a values-based,
owner-managed company, we want to continue to be an attractive employer for qualified,
motivated and proud employees. Securing jobs for the long term is therefore just as much
a part of our vision for the future as putting in place a broad spectrum of measures to ensure
staff retention. Within this context, the personal development of our employees is
something that is very close to our hearts
 RADO manufactures clean, high-quality products in a variety of different formats.

To enable us to do so, we need top-grade equipment, which meets all the
requirements for modern, safe production facilities.
 Just as important are our highly experienced employees, who undergo regular
training to further enhance their technical and process expertise and to keep up-to-
date about the latest development and production techniques. The reason for the
low turnover and length of service of our employees lies, we believe, in the
appreciative, staff-oriented company culture that has developed over the years at
RADO.
5.3.3 Safety related programs and practices
 We at RADO can't afford production stoppages any more than you can. That is why
we have developed a sophisticated emergency strategy which safeguards
manufacturing too if some kind of crisis leads to sudden bottlenecks in terms of
energy, IT, raw materials, resources or personnel.
 We can even deal with the total loss of individual production lines. We have our
own backup facilities available at our Radevormwald site.
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But if necessary we can also transfer production for a short time to our backup works in
Viernheim in the state of Hesse.
 By producing different materials in physically separate facilities, we can prevent

contamination even in the event of the most serious emergency. Regular training
on backup formulations enables us to respond quickly even in difficult situations
and to continue producing to our usual standards with no significant delays.
5.3.4 CSR practices of the organization
 CSR is a form of corporate self-regulationintegrated into a business

model. CSRpolicy functions as a self-regulatory mechanism whereby a
business monitors andensures its active compliance with the spirit of the law,
ethical standards andinternational norms. CSR aims to embrace responsibility
for corporate actions and toen courage a positive impact on the environment
and stakeholders including consumers, employees, investors, communities, and
others.
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Chapter 6:
Production / Operations Department
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6.1 Titan Company

6.1.1. Raw materials used
6.1.1.1 Equipment for Molding Powder Preparation
In order to implement production using Hypepress technologies (which is cost-effective

for small-piece concrete products), apart from the press, one has to choose the right
equipment for making molding powder as well as raw materials for its production.
Our company develops and produces a full complex of equipment for molding powder
production and raw materials preparation.
We have designed an innovative crushing complex that allows you to crush raw materials
without making much dust and noise. This complex can be used inside the workshop in
which the staff members work. This crusher has one important advantage which is the
crushing of raw materials and their output in the form of a cube-like fraction.
TITAN MACHINERY is extremely proud of its new development which is an intensive

mixer. Intensive mixing allows one to get evenly distributed particles in the molding
powder and save on binders. Our intensive mixer allows one to reduce the flakiness of inert
aggregates in the molding powder.
Mesh screens in our product line have different capacities and can process the needed
amount of raw materials for production needs.
6.1.1.2 Materials Preparation For Hyperpress Technology
Our company produces Hyperpresses of different configurations, which are optimal for
different scopes of application. In order to make high-quality products, you shall correctly
prepare the raw materials for pressing. This refers not only to the production of building
materials in the form of bricks, blocks, building tiles, roof tiles, etc. but to the production
of briquettes for metallurgy, agriculture, thermal power plants, and other industries as well.
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6.1.1.3 More about raw material preparation
At the moment, TITAN MACHINERY has two product lines of mixers: TITAN iM, and
TITAN MA.
These mixers have absolutely different work principles, as well as the scope of their
application. It will be cost-effective to replace the iM series mixer with the MA series mixer
in production where one doesn’t need to produce a high-quality molding mix, for example,
in the production of conventional bricks.
6.1.2 Turnover in terms of units manufactured
In financial year 2021, Titan Company reported a domestic revenue of over 206 billion
Indian rupees, an increase from the previous year. An exponential rise in the revenue of the
Indian luxury goods company was noted over the years except for the fall in financial year
2016.
6.1.3 Plant Location
Titan Company Limited was inaugurated on 26 July 1984 under the name Titan Watches Limited
in Chennai. A plant was set up to manufacture quartz analog electronic watches in the State Industries
Promotion Corporation of Tamil Nadu, Ltd. Industrial area at Hosur. In November 1986, Titan
Company and Casio signed a MoU proposing to manufacture 2 million digital and analog-digital
watches. In 1989, a satellite case plant was set up in Dehradun, Uttarakhand at present with a
manufacturing capacity of 500,000 watch cases annually.
6.1.4 Products Produced
1. Watches
2. Jewellery
3. Precision Engineering
4. Bags
5. Perfumes
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6. Belts
7. Wallets and Eyewere
6.1.5 Machines / Equipment used
Titan Machinery owns and operates a network of over 70 full-service agriculture and
construction equipment stores across a 9-state footprint in the United States and 6 countries
in Europe. At our stores, we sell new and used construction and farm equipment, as well
as offer construction rental equipment. We provide superior local parts and service support
and work closely with our manufacturing partner, the CNHi family of brands - including
Case IH, Case Construction, New Holland Agriculture, and New Holland Construction.
6.1.6 Process used (Process in brief)
6.1.6.1 Machining
Titan uses modern manufacturing machinery and CNCs to carry out the processes of
Turning & Hobbing to produce high-quality products of the highest precision – ranging
from small, medium and large-sized series of parts production such as pinions, studs,
pillars, axles, stems, etc. to wheels and pinions for highly precise gear profiles. Titan also
produces plates and bridges for the watch movement through milling operations.
6.1.6.2 Forming
Titan’s in-house cutting-edge manufacturing coupled with the sophistication of being a

global manufacturer ensures that we don’t just produce parts, we think about the way it
works in your finished product. Our German and Swiss machineries adeptly handle the
production of a number of processes - blanking, punching, bending, and piercing and more.
6.1.6.3 Special Operations
Backed by decades of expertise in design, development & manufacturing, our sub-

assembly and coil assembly services comprise of the assembly of wheels and pinions &
jewel fixing for plates and bridges. Our specialized equipment is capable of winding ultra-
fine wire as thin as 18 micron and producing coils for all watch movement types. To
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enhance plating applications, all components undergo burnishing to remove blemishes that
result from machining operations.
6.1.6.4 Assembly
Our in-house facility and assembly line introduces new efficiencies into the manufacturing
process. Our watch movements are an exclusivity offered to brand manufacturers when
they have their watches assembled at our facility.
6.2 Rolex Company

6.2.1 Raw Material
Precious metals, stainless steel, ceramic, mother-of-pearl, precious stones...

Because the choice of materials is an essential link in the long chain of processes in
manufacturing an exceptional product, Rolex rigorously selects the materials for its
watches. Each bridge of the movement, each wheel, each pinion, each element of the
case, bracelet or dial is made of a material that has been meticulously selected and
constantly re-evaluated to guarantee its performance and its impeccable aesthetics.
6.2.2 TurnOver
This gain in market share is nothing short of impressive considering it occurred

during a global pandemic—especially during a year when Rolex reportedly dropped its
production by 19 percent (140,000 watches) and released just 810,000 timepieces last year.
This resulted in Rolex’s annual turnover dropping 14 percent YOY, from roughly $5.4
billion (CHF 5 billion) in 2019 to $4.7 (CHF 4.4 billion) in 2020. Overall, it’s estimated
that the entire Swiss watch industry shrunk by one-third in 2020.The Rolex brand generated
approximately 4.7 billion U.S. dollars in turnover in 2020, making it the leading luxury
watch brand in the world.
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In 1919 wilsdorf left England due to wartime taxes levied on luxury imports as well
as to exports duties on the silver and gold used for the watch cases driving cost too high
and moved the company to Geneva, Switzerland where it was established as the Rolex
watch company.
6.2.4 Products Producesd
Notable models. In general, Rolex has three watch lines: Oyster Perpetual,
Professional and Cellini (the Cellini line is Rolex's line of "dress" watches). The primary
bracelets for the Oyster line are named Jubilee, Oyster, President, and Pearlmaster.
6.2.5 Process Used (Process In Brife)
1. Rolex use an expensive and difficult to machine steel for its watches because of
its aesthetic quality.
2. Rolex has its own R&D labs.
3. All Rolex watches are hand-assembled.
4. An in-house foundry makes all their gold
5. Technology is very important to the company.
6. Rolex puts a huge emphasis on quality.
7. Dive watches are each individually tested in pressurized tanks with water
8. Rolex employs an army of gemologists
9. It takes a whole year to make one Rolex watch.
10. Rolex makes virtually everything in-house.
6.2.6 Quality Maintenance
The quality of a Rolex watch is based on its exceptional reliability and robustness.
From the outset, the company’s watchmakers, engineers and later its scientists fostered
a culture of innovation and unique expertise in the design and manufacturing of
timepieces.
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6.3 Rado Company

6.3.1 Raw materials used
In order to be able to guarantee the high quality of our products at all times, RADO carries
out regular analyses at every stage of formulation development and compounding. This
process begins with the raw materials and continues through formulation development and
on into production.
Watches are primarily made out of four sorts of materials namely, ceramic, titanium,
stainless steel and steel, metal or alloys. Stainless steel is used in a large amount of watch
cases. More information regarding each material can be found below.
6.3.2 Turnover in terms of units manufactured
Rado Industries Limited is an unlisted public company incorporated on 21 June, 1993. It

is classified as a public limited company and is located in , Delhi. It's authorized share
capital is INR 1.50 cr and the total paid-up capital is INR 1.08 cr.
The current status of Rado Industries Limited is - Active.
The last reported AGM (Annual General Meeting) of Rado Industries Limited, per our
records, was held on 31 December, 2020. Also, as per our records, its last balance sheet
was prepared for the period ending on 31 March, 2020.
Rado is a “high range” brand of the Swiss watch conglomerate Swatch

Group alongside Longines and Union Glashütte. It was founded in 1917 as Schlup &
Co. in Lengnau, Switzerland, and began using the Rado brand in the 1950s. It was part
of Sagiter and the General Watch Co./ASUAG previously. Today Rado is known for high-
tech materials like ceramic (descended from the DiaStar) and the seahorse and anchor
logos indicating waterproof and automatic watches, respectively.
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Founded in the home of their parents, the factory expanded over the next 25 years to
become one of the largest watch movement makers in Switzerland.
Schlup began selling watches using the Rado brand around 1953, though it had been
registered as early as 1928. The name meant “wheel” in Esperanto and was only used in
international markets, beginning in South America and Asia before reaching Switzerland
in 1963.
6.3.4 Process used
 DESIGN
1. The idea
2. Feasibility study
3 Detailed study
 PRE-PRODUCTION
4. Industrialisation
5. Manufacturing
6. Inspection
 PROTOTYPING
7. Assembly
8. Characterisation
 PRODUCTION
9. Launching the pilot production run :

Validating the signed-off prototype, which is checked for Order for the Zero Pilot
Production Run that will produce the first examples of the new model. Unlike prototypes,
models from the Zero Pilot Production Run are sold.
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10. Decoration, xternal parts and casing :

Even in this phase, models are not considered ‘finished’ as only the movement, without
any finishes or a bracelet, has been inspected. It is at the pilot production run stage, that
decoration, casing and external-part experts play their role. Finishes to the watch are now
added. These finishing touches explain the difference in cost between an entry-level
calibre and an Haute Horlogerie timepiece. Bevelling, circular graining, sunray brushing,
Côtes de Genève, etc., are all carried out with the utmost respect for watchmaking
traditions.
 FINAL STAGES
11. Reliability tests
12. Mounting the bracelet, fitting the presentation case, and shipping
13. Marketing and sales
6.3.5 Quality Maintenance and standards
In order to be able to guarantee the high quality of our products at all times, RADO carries
out regular analyses at every stage of formulation development and compounding. This
process begins with the raw materials and continues through formulation development and
on into production.
6.3.6 Services provided
In-process checks on the production lines enable us to identify problems in the production process
as quickly as possible. In our in-house QA lab these analyses are supplemented by tests of
characteristic features of the finished mixes to ensure that we have a complete picture. If required,
we can supply our customers with an inspection certificate in accordance with EN 10204 3.1, listing
all the results.
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Annual audits by external bodies ensure that our systems are working properly and that we comply
with strict quality and also environmental standards. Certification to ISO 9001, ISO 14001 and
ISO 50001 has been a matter of routine for RADO for many years now.
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Chapter 7:
Conclusion from the study
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The Indian Luxury watch market has taken off in the recent years with the world's top
brands having entered the Indian Market. India's rising affluent and young population, with
their taste for brands and luxury, is coupled with rise of Tier II and Tier III cities as major
demand drivers for this segment. Brands are hiring Indian Movie Stars and Sports heroes
to market their brands and are going all out to woo the young affluent Indian. Challenges
remain though, with want to quality retail space, staff training issues and lacklustre
Government support. But all in all, the future of luxury time wear seems bright enough.
The world’s sixth largest watch producer in India is Titan as a result of its strong marketing
strategies. They are the market leaders in this segment. It gives a tough competition not
only to various Indian brands but to various International brands also. The few main
competitors of Titan watches are Swatch, Citizen, Timex and Espirit. The customer base
of Titan is 65 million and manufactures 7 million watches per annum. Their largest
showroom is the “World of Titan”. They have a network of 616 service centers. The
consumers are being exposed to various global brands, price levels and styles due to the
arrival of Swiss brands. Hence we can conclude by saying that as the prices of Swiss
watches are very high, it has helped the Indian consumers realize the value of Indian brands
with its unique designs. This marketing plan summarizes the main points on how Rolex
will markettheir wristwatches to a younger generation than the current target market.
Thisexpansion will allow Rolex to move into an untapped area that needs education onthe
value of a high-quality time piece. In order to properly address this objective,Rolex needs
to update their marketing strategy to include a greater presence inadvertisements that target
this younger market as well as a strong showing in thesocial media realm. Rado is a “high
range” brand of the Swiss watch conglomerate Swatch Group alongside Longines and
Union Glashütte. It was founded in 1917 as Schlup & Co. in Lengnau, Switzerland, and
began using the Rado brand in the 1950s. It was part of Sagiter and the General Watch
Co./ASUAG previously. Today Rado is known for high-tech materials like ceramic
(descended from the DiaStar) and the seahorse and anchor logos indicating waterproof and
automatic watches, respectively.
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Watch Industry
Bibliography
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Apparel Industry (Fashion : Watch sector)

Mainly, all the details have taken from the Annual Reports of the companies and the
official website of the companies as these are the most genuine sources we felt.
Other information are taken from the below mentioned websites.
https://www.rolex.com/watches.html?ef_id=Cj0KCQjw8eOLBhC1ARIsAOzx5cF7YkL-
-nv9D7qTk80tS2RV5xvW8hGOe0yYMeCAxt7MZNQjIh9oWYoaAsS-
EALw_wcB:G:s&s_kwcid=AL!141!3!519416603278!b!!g!!%2Brolex%20%2Bwatches
https://www.titancompany.in/about-us
https://www.ethoswatches.com/the-watch-guide/rolex-brand-story/
https://www.titan.co.in/shop/watches?utm_source=Google&utm_medium=CPC&utm_ca
mpaign=405100509&utm_adgroup=30947911989&utm_term=titan%20watches%20offe
rs&creative=494526194818&device=m&devicemodel=&matchtype=b&feeditemid=&tar
getid=kwd-
295367793827&network=g&placement=&adposition=&GA_loc_interest_ms=&GA_loc
_physical_ms=9062203&gclid=Cj0KCQjw8eOLBhC1ARIsAOzx5cGhVqThrdN4VQD
MQMwkU-bZJluOkDuj5LNaZ8dncTFaTOigCxTtAaoaAuZrEALw_wcB
https://www.firstclasswatches.co.uk/blog/2020/06/the-history-of-rado-watches/
https://www.rado.com/en_in/history-of-the-future.html
https://www.titancompany.in/about-us/heritage
https://www.financialexpress.com/market/stock-market/rolex-rings-ltd-stock-
price/financials-balance-sheet/
https://www.moneycontrol.com/stocks/company_info/print_main.php
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Watch Industry

Online Summer Report (501)

“Apparel Industry ( Fashion : Watch sector)”

Titan Public Limited

Rolex Privet Limited

Rado Privet Limited

Under the Guidance of

Dr. Mrunal Joshi

Anis Bharatbhai Suvagiy-177

Nancy Vijaybhai Rawal-166

Ashish Bachubhai Makvana-143

Bachelor of Business Administration Degree,

Affiliated to Veer Narmad South Gujarat University,

BRCM College of Business Administration

Academic Year 2021 – 2022

to BRCM College of Business Administration, affiliated to Veer Narmad South Gujarat

1. Anis Bharatbhai Suvagiya

2. Nancy Vijaybhai Rawal

3. Ashish Bachubhai Makvana

introducing Summer Internship Project as a part of BBA Curriculum. It is our great

individuals and institutions who have directly or indirectly helped us in completing

1. Anis Bharatbhai Suvagiya

2. Nancy Vijaybhai Rawal

3. Ashish Bachubhai Makvana

STRUCTURE OF SUMMER TRAINING REPORT

Sr. Particulars Page no.

Titan Public Limited

Rolex Privet Limited

Rado Privet Limited

1.1 History / Evolution of the sector

1.1.1 Watchmaking in the Middle Ages – from the clock to

1.1.2 The industrial revolution in watchmaking

The mechanization of certain production steps led to a separation of individual production

Watchmaking increasingly moved from small workshops to larger factory halls.

1.1.3 Establishment of the wristwatch

1.2 Overall working of the sector

Considering the COVID-19 pandemic, smartwatches companies have upgraded and

1.3 SWOC Analysis

I. Raw material base

IV. Rich Heritage

I. More dependence on cotton

II. Spinning Sector

III. Weaving Sector

India has relatively less number of shuttle-less loom.

IV. Fabric Processing

VI. Low Labour Productivity

II. Market access through bilateral negotiation

III. Integration of Information technology

IV. Opportunity in High Value Items

1.4 Major Players in the sector

1.4.1 Fossil Group Inc.

1.4.2 Citizen Watch Co. Ltd.

Citizen Watch Co., Ltd. (Shichizun tokei Kabushiki-gaisha) is an electronics company

1.4.3 Titan Company Limited

1.4.4 Apple Inc.

Apple Inc. is an American multinational technology company that specializes in consumer

1.4.5 Seiko Holdings Corporation

Seiko Holdings Corporation (Seikō Hōrudingusu Kabushiki-gaisha), commonly known

1.5 GDP contribution by that sector

2.1 Titan Company

2.1.1 Name & Location of Company

2.1.2 Name & Location of Company, Year of Establishment

Titan Company Limited, Hosur, Tamilnadu, 1984