Research Design & Mergers and Acquisitions

RESEARCH DESIGN
A research design helps to decide upon issues like what, when, where, how much, by
what means etc. with regard to an enquiry or a research study. It is an arrangement of
conditions for collection and analysis of data in a manner that aims to combine
relevance to the research purpose with economy in procedure. In fact, the research
design is the conceptual structures within which research is conducted, it constitutes
the blue print for the collection, measurement and analysis of data.
INTRODUCTION
Every organization has its own purpose of operation and pre-determined goals and
objectives to accomplish in relation to the Organization’s mission and vision
statements. The level at which goals or objectives can be actualized depends on the
efficiency and effectiveness of operation and internal control, but for the goals of any
organization to be achieved, some stipulated or laid down principles for its
performance. When these rules are followed simultaneously then the usefulness of
such principle or concept will be achieved. Inventory is defined ads stock of goods a
firm is producing for sales and the components that make up the goods, it is an
itemized list of goods (raw materials, finished goods and work in progress) which
forms certain proportion of organization’s investment.
In recent years Inventory management has attached a great deal of attention from
people both in academia and industries. A lot of resources in the inventory
management practices of organization. It represents one of the most important assets
that most businesses possess, because the turnover of inventory represents one of the
primary resources of revenue generation and subsequent earnings for the company.
Thus it should be managed in order to avoid the inventories at right time in right
quantity. Inventory can be also viewed as an idle resource which has an economic
value. So, better management of the inventories would release capital productivity.
Therefore from above definition inventory is the totality of all the stock, which
includes raw materials, work - in - progress and finished goods and materials
contained in an
Therefore the aim of this project work is to evaluate how a Vidwan aeronautics
private limited, which is manufacturing aircrafts and Spacecraft’s will manage profit
1
in inventory management. By using an efficient inventory management and control
techniques like economic order quantity (EOQ), Just in time (JIT), Quick response
manufacture (QRM), among others to render efficient services to their customers,
maximize profit, avoid production hold-ups in factories and to avoid complex result,
Vidwan aeronautics private limited, Bangalore is been selected for this research.
STATEMENT OF THE PROBLEM

A Study Related To Mergers And Acquisition Of Private Sector Unit With Special
Reference To Firstcry.Com And Mahindra Ventures, Bangalore.
METHODOLOGY
This study was a descriptive study conducted mainly to familiarize with the activities,
processes, policies, programmes and procedures followed in the firm. Required data
for the study was collected through monitoring and questioning. The study is made
personally visiting the company warehouse at Hoskote and data were collected
through primary and secondary data.
PRIMARY DATA
Primary data have been collected through observation, personal interview and
discussion with managers and employees of the various department of the
organization.
SECONDARY DATA
Secondary data have been collected from company’s internal records like annual
reports, website, office records, management reports, outlet of company were used for
collecting relevant information for this study. The data needed to prepare this project
was obtained from other published sources like internet, magazines, business dailies,
journals and business magazines etc.
DATABASE
The research efforts employ both primary and secondary research techniques to
ensure that the foundation of business intelligence and insight is accurate, current, and
reliable. To conduct this study, both Primary and secondary data have been used.
2
OBJECTIVES
 To conduct in depth analysis of mergers and acquisition.
 To evaluate the approach of corporate towards with mergers and
acquisition.
 To analyze post-merger operating performance and efficiency of the
acquiring firm.
 To analyze the current environment uncertainties and competition.
 To familiarize with the business organization merger practices.
LIMITATIONS
 Lack of co-operation from certain employees.
 Difficult in meeting the higher officials like BODs, CEOs, due to their
busy schedules.
 Certain areas have restricted access.
AREA OF STUDY
The study was undertaken at Firstcry.com and the respondents were the Associate
Manager, Department heads and employees from different departments like finance,
maintenance, sales, advertisement, operations etc.
PLAN OF THE STUDY

CHAPTER: 01 RESEARCH DESIGN
It includes the titles of the study, statement of the problems, scope of study, objectives
of the study, the significance of the study, the methodology of the research,
limitations of the study and plan of the study.
3
CHAPTER: 02 INTRODUCTION AND OVERVIEW OF THE
STUDY
It includes introduction to study, introduction about products, status of manufacturing
units in India, history of manufacture today, importance of the products, definition of
finance, financial data and information (journals and ledger).
CHAPTER: 03 COMPANY PROFILE

It includes the overview of the industry, history, vision, mission, and quality policy,
area of operations, ownership partners, and products range and nature of business
carried.
CHAPTER: 04 ANALYSIS AND INTERPRETATION OF THE

STUDY
It portrays the collected data being tabulated and analyzed through appropriate
statistical tools and techniques.
CHAPTER: 05 SUMMARY OF FINDINGS AND CONCLUSIONS

It provides in depth knowledge on the outcome of the study and draws conclusion on
the basis of facts being found the present research study.
CHAPTER: 06 SUMMARY OF RECOMMENDATIONS

It gives suggestions to the company in what and all areas the company need to
improve.
BIBLIOGRAPHY
ANNEXURE
PHOTO GALLERY
INTRODUCTION AND OVERVIEW OF THE STUDY
Mergers and acquisitions (M&A) is a general term used to describe the consolidation
of companies or assets through various types of financial transactions, including
mergers, acquisitions, consolidations, tender offers, purchase of assets and
4
management acquisitions. The term M&A also refers to the desks at financial
institutions that deal in such activity.
THE ESSENCE OF MERGER

The terms "mergers" and "acquisitions" are often used interchangeably, although in
actuality, they hold slightly different meanings. When one company takes over
another entity, and establishes itself as the new owner, the purchase is called an
acquisition. From a legal point of view, the target company ceases to exist, the buyer
absorbs the business, and the buyer's stock continues to be traded, while the target
company’s stock ceases to trade.
On the other hand, a merger describes two firms of approximately the same size, who
join forces to move forward as a single new entity, rather than remain separately
owned and operated. This action is known as a "merger of equals." Both companies'
stocks are surrendered and new company stock is issued in its place. Case in point:
both Daimler-Benz and Chrysler ceased to exist when the two firms merged, and a
new company, Daimler Chrysler, was created. A purchase deal will also be called a
merger when both CEOs agree that joining together is in the best interest of both of
their companies.
THE ACTION OF ACQUISITION

Unfriendly deals, where target companies do not wish to be purchased, are always
regarded as acquisitions. Therefore, a purchasing deal is classified as a merger or an
acquisition, based on whether the purchase is friendly or hostile and how it is
announced. In other words, the difference lies in how the deal is communicated to the
target company's board of directors, employees and shareholders.
TYPES OF MERGERS & ACQUISITIONS

Here is a list of transactions that fall under the M&A umbrella:
MERGER
In a merger, the boards of directors for two companies approve the combination and
seek shareholders' approval. Post-merger, the acquired company ceases to exist and
5
becomes part of the acquiring company. For example, in 2007 a merger deal occurred
between Digital Computers and Compaq, whereby Compaq absorbed Digital
Computers.
ACQUISITION
In a simple acquisition, the acquiring company obtains the majority stake in the
acquired firm, which does not change its name or alter its legal structure. An
example of this transaction is Manulife Financial Corporation's 2004 acquisition of
John Hancock Financial Services, where both companies preserved their names and
organizational structures.
CONSOLIDATION
Consolidation creates a new company. Stockholders of both companies must approve
the consolidation. Subsequent to the approval, they receive common equity shares in
the new firm. For example, in 1998, Citicorp and Traveler's Insurance Group
announced a consolidation, which resulted in Citigroup.
TENDER OFFER
In a tender offer, one company offers to purchase the outstanding stock of the other
firm, at a specific price. The acquiring company communicates the offer directly to
the other company's shareholders, bypassing the management and board of directors.
For example, in 2008, Johnson & Johnson made a tender offer to acquire Oryx
Biopharmaceuticals for $438 million. While the acquiring company may continue to
exist — especially if there are certain dissenting shareholders — most tender offers
result in mergers.
ACQUISITION OF ASSETS
In an acquisition of assets, one company acquires the assets of another company. The
company whose assets are being acquired must obtain approval from its
shareholders. The purchase of assets is typical during bankruptcy proceedings, where
other companies bid for various assets of the bankrupt company, which is liquidated
upon the final transfer of assets to the acquiring firms.
6
MANAGEMENT ACQUISITION
In a management acquisition, also known as a management-led buyout (MBO), a
company's executives purchase a controlling stake in another company, making it
private. These former executives often partner with a financier or former corporate
officers, in an effort to help fund a transaction. Such M&A transactions are typically
financed disproportionately with debt, and the majority of shareholders must approve
it. For example, in 2013, Dell Corporation announced that it was acquired by its
chief executive manager, Michael Dell.
THE STRUCTURE OF MERGERS

Mergers may be structured in multiple different ways, based on the relationship
between the two companies involved in the deal.
Horizontal merger: Two companies that are in direct competition and share the
same product lines and markets.
Vertical merger: A customer and company or a supplier and company. Think of
a cone supplier merging with an ice cream maker.
Congeneric mergers: Two businesses that serve the same consumer base in
different ways, such as a TV manufacturer and a cable company.
Market-extension merger: Two companies that sell the same products in
different markets.
Product-extension merger: Two companies selling different but related
products in the same market.
Conglomeration: Two companies that have no common business areas.
Mergers may also be distinguished by following two financing methods--each with
its own ramifications for investors.
Purchase Mergers: As the name suggests, this kind of merger occurs when one
company purchases another company. The purchase is made with cash or through the
issue of some kind of debt instrument. The sale is taxable, which attracts the
acquiring companies, who enjoy the tax benefits. Acquired assets can be written-up
to the actual purchase price, and the difference between the book value and the
purchase price of the assets can depreciate annually, reducing taxes payable by the
acquiring company.
7
Consolidation Mergers: With this merger, a brand new company is formed, and
both companies are bought and combined under the new entity. The tax terms are the
same as those of a purchase merger.
DETAILS OF ACQUISITIONS
Like some merger deals, in acquisitions, a company may buy another company with
cash, stock or a combination of the two. And in smaller deals, it is common for one
company to acquire all of another company's assets. Company X buys all of
Company Y's assets for cash, which means that Company Y will have only cash (and
debt, if any). Of course, Company Y becomes merely a shell and will eventually
liquidate or enter other areas of business.
Another acquisition deal known as a "reverse merger" enables a private company to

become publicly-listed in a relatively short time period. Reverse mergers occur when
a private company that has strong prospects and is eager to acquire financing buys a
publicly-listed shell company, with no legitimate business operations and limited
assets. The private company reverses merges into the public company, and together
they become an entirely new public corporation with tradable shares.
VALUATION MATTERS
Both companies involved on either side of an M&a deal will value the target
company differently. The seller will obviously value the company at the highest
price as possible, while the buyer will attempt to buy it for the lowest possible price.
Fortunately, a company can be objectively valued by studying comparable
companies in an industry, and by relying on the following metrics:
Comparative Ratios: The following are two examples of the many comparative
metrics on which acquiring companies may base their offers:
Price-Earnings Ratio (P/E Ratio): With the use of this ratio, an acquiring
company makes an offer that is a multiple of the earnings of the target company.
Examining the P/E for all the stocks within the same industry group will give the
acquiring company good guidance for what the target's P/E multiple should be.
Enterprise-Value-to-Sales Ratio (EV/Sales): With this ratio, the acquiring
company makes an offer as a multiple of the revenues, again, while being aware of
the price-to-sales ratio of other companies in the industry.
8
Replacement Cost: In a few cases, acquisitions are based on the cost of replacing
the target company. For simplicity's sake, suppose the value of a company is simply
the sum of all its equipment and staffing costs. The acquiring company can literally
order the target to sell at that price, or it will create a competitor for the same cost.
Naturally, it takes a long time to assemble good management, acquire property and
purchase the right equipment. This method of establishing a price certainly wouldn't
make much sense in a service industry where the key assets – people and ideas – are
hard to value and develop.
Discounted Cash Flow (DCF): A key valuation tool in M&A, discounted cash
flow analysis determines a company's current value, according to its estimated future
cash flows. Forecasted free cash flows (net income + depreciation/amortization -
capital expenditures - change in working capital) are discounted to a present value
using the company's weighted average costs of capital (WACC). Admittedly, DCF is
tricky to get right, but few tools can rival this valuation method.
MERGERS & ACQUISITIONS CAN TAKE PLACE:

 By purchasing assets
 By purchasing common shares
 By exchange of shares for assets
REASONS FOR MERGERS AND ACQUISITIONS:
 Financial synergy for lower cost of capital
 Improving company’s performance and accelerate growth
 Economies of scale
 Diversification for higher growth products or markets
 To increase market share and positioning giving broader market access
 Strategic realignment and technological change
 Tax considerations
 Undervalued target
 Diversification of risk
PRINCIPLE BEHIND ANY M&A IS 2+2=5

9
There is always synergy value created by the joining or merger of two companies.
The synergy value can be seen either through the Revenues (higher revenues),
Expenses (lowering of expenses) or the cost of capital (lowering of overall cost of
capital).
THREE IMPORTANT CONSIDERATIONS SHOULD BE TAKEN

INTO ACCOUNT:
 The company must be willing to take the risk and vigilantly make
investments to benefit fully from the merger as the competitors and the industry
take heed quickly
 To reduce and diversify risk, multiple bets must be made, in order to
narrow down to the one that will prove fruitful
 The management of the acquiring firm must learn to be resilient, patient
and be able to adopt to the change owing to ever-changing business dynamics in
the industry.
STAGES INVOLVED IN ANY M&A:

Phase 1: Pre-acquisition review: this would include self-assessment of the
acquiring company with regards to the need for M&A, ascertain the valuation
(undervalued is the key) and chalk out the growth plan through the target.
Phase 2: Search and screen targets: This would include searching for the possible
apt takeover candidates. This process is mainly to scan for a good strategic fit for the
acquiring company.
Phase 3: Investigate and valuation of the target: Once the appropriate company is
shortlisted through primary screening, detailed analysis of the target company has to
be done. This is also referred to as due diligence.
10
Phase 4: Acquire the target through negotiations: Once the target company is
selected, the next step is to start negotiations to come to consensus for a negotiated
merger or a bear hug. This brings both the companies to agree mutually to the deal
for the long term working of the M&A.
Phase 5: Post merger integration: If all the above steps fall in place, there is a
formal announcement of the agreement of merger by both the participating
companies.
THE ROLE OF INCOMETAX IN SUPPORTING MERGERS AND

ACQUISITIONS
By understanding the business drivers behind mergers and acquisitions (M&A) and
being included in the initial stages of the process, IT leaders can contribute
significantly to the success of these endeavors. Yet there is one important caveat: IT
teams can only influence the outcome of mergers and acquisitions if the merging
businesses’ technology infrastructure is planned, integrated and run to support M&A
efforts during and following the deal. In this white paper, we shed light on the
barriers IT teams often encounter following the close of an M&A Deal. We also
Detail how IT organizations can position themselves as strategic partners that can
add significant value throughout the M&A lifecycle. We believe that by creating a
template, or model, that can be easily understood by the business side of the
enterprise, IT organizations can make a clearer case for how the IT infrastructure can
Contribute to the value of mergers and acquisitions at virtually every stage. It is with
noting that the definition of value from an IT perspective often differs from that of
the business — an issue that can lead to semantic and execution challenges
throughout the M&An integration process. Business executives need to view the IT
infrastructure within the same context as they view other strategic, value-generating
aspects of the enterprise. Otherwise, they can unintentionally undermine the rationale
for and expected business returns from the merger or acquisition. • Cognizant 20-20
Insights cognizant 20-20 insights | February 2015 cognizant 20-20 insights 2 Post-
Merger Integration: All aboard Many IT leaders face these types of challenges when
navigating the M&An integration process, especially when their company isn’t a
seasoned acquirer. IT teams are often excluded from the early stages of a deal, but
11
brought in afterward to reconcile the myriad aspects of two complex IT organizations
quickly and economically.
Most of today’s enterprises depend heavily on the information systems that

coordinate transactions, manage operations, support sales and service, and provide
services around the emerging world of digital. Yet avoiding disruption while creating
more value is often an afterthought in the M&A strategy of many enterprises. Apart
from preserving value through more effective integration, many experienced
acquirers create additional value and reduce risk by involving IT much earlier in the
process — often at the very beginning. One such acquirer is EMC, the world’s
largest data-storage equipment provider. EMC has established a best practice of
fielding a dedicated IT M&A integration team immediately upon signing a letter of
intent.1 As IT integration is core to EMC’s M&A integration efforts, the IT team’s
presence helps broaden the conversation and illuminate potential areas of
opportunity, operational challenges and financial risks. M&A Value Creation: A
Business Perspective Traditionally, companies use revenue or shareholder value as
an indicator of M&A success. However, value created from an acquisition is not
limited to the shorter-term view of increasing revenue or immediate cost-cutting.
Long-term value can come in many forms. A recent survey2 cited a number of
additional factors that companies take into account to drive M&A strategies and
create additional value.
MERGERS AND ACQUISITIONS SWOT ANALYSIS

A SWOT analysis is a framework that is used to analyze a company’s competitive
positioning in its business environment. This can be used by Mergers and
Acquisitions, and will involve the identification of its internal Strengths (S) and
Weaknesses (W) followed by the identification of the Opportunities (O) and Threats
(T) it faces in its extensivelyrnal business environment.
Mergers and Acquisitions is among the leading firms within its industry, and it needs
to retain this position. Mergers and Acquisitions is carefully reviewing its SWOT
analysis and using it to make strategic decisions. For a SWOT analysis to be
conducted of the firm, an interactive process needs to be undertaken by coordinating
12
among all the departments of the firm such as finance, marketing, operations, human
resource, logistics, strategic planning, and management.
A SWOT matrix is a 2x2 matrix that has the internal strategic factors listed in the
first row; Strengths and Weaknesses. It has the external strategic factors listed in the
second row; Opportunities and Threats. This SWOT strategic framework allows
company managers too easily
View all of the company’s strengths, weaknesses, opportunities and threats in one
matrix.
Internal Strengths Weaknesses
External Opportunities Threats
The SWOT analysis matrix helps in the development of 4 types of strategies by

managers. These are:
 Strengths-Opportunities Strategies (SO): This involves using internal
strengths to take advantage of opportunities.
 Weaknesses-Opportunities Strategies (WO): This involves improving on
the company’s weaknesses by making use of the opportunities.
 Strengths-Threats Strategies (ST): This involves the using of strengths to
minimize the weaknesses.
 Weaknesses-Threats Strategies (WT): This involves the elimination of
weaknesses to combat the threats.
 The main objective of the SWOT analysis is to help in identifying the strategies
that can be used by the company to build on its strengths, eliminate its weaknesses
while making the most of opportunities and countering threats.
SWOT ANALYSIS OF MERGERS AND ACQUISITIONS
Strengths of Mergers and Acquisitions
 Distribution and Reach: Mergers and Acquisitions has a large number

of outlets in almost every state, supported by a strong distribution network that
makes sure that its products are available easily to a large number of customers in
a timely manner.
13
 Cost Structure: Mergers and Acquisitions’ low cost structure helps it
produce at a low cost and sell its products at a low price, making it affordable for
its customers.
 Dealer Community: Mergers and Acquisitions has a strong relationship

with its dealers that not only provide them with supplies but also focus on
promoting the company's products and training.
 Financial Position: Mergers and Acquisitions has a strong financial

position with consecutive profits in the past 5 years, along with accumulated profit
reserves that can be used to finance future capital expenditures.
 Mergers and Acquisitions has a large asset base, which provides it with better
solvency.
 Return on Capital Expenditure: Mergers and Acquisitions has been

successfully able to generate positive returns on the capital expenditure it has
incurred on various projects in the past.
 Automation: of various stages of production has allowed the more

efficient use of resources and reducing costs. It also allows for consistency in
quality of its products and provides the ability to scale up and scale down
production as per the demand in the market.
 Skilled Labor force: Mergers and Acquisitions has invested extensively

in the training of its employees that has resulted in it employing a large number of
skilled and motivated employees.
 Mergers and Acquisitions has a diversified workforce, with people of many
geographical, racial, cultural and educational backgrounds that help the
company by bringing in diverse ideas and methodologies of doing things.
 Mergers and Acquisitions has qualified and accredited professionals working
under in its team.
14
 Entering new markets: Mergers and Acquisitions’ innovative teams
have allowed it to come up with new products and enter new markets. It has been
successful in past, in most of the initiatives it has taken in new markets.
 Social Media: Mergers and Acquisitions has a strong presence on social

media with more than millions of followers on the three most famous social media
platforms: Face book, Twitter and Integra. It has high levels of customer
engagement on these platforms with low customer response time.
 Website: Mergers and Acquisitions has a well-functioning and interactive

website that draws a large number of internet traffic and sales.
 Product Portfolio: Mergers and Acquisitions has a large product

portfolio where it provides products in a large range of categories. It has a number
of unique product offerings that are not provided by competitors.
 The geography and location of Mergers and Acquisitions provide it with a cost
advantage in serving its customers, when compared to that with the
competition.
 Mergers and Acquisitions has a well-established IT system that ensures
efficiency in its internal and external operations.
 Mergers and Acquisitions owns a number of intellectual property rights that
include trademarks and patents. These allow it exclusivity over its products
and competitors cannot copy or reverse engineer them.
 Mergers and Acquisitions is a brand that has been in the market for years, and
people are aware of it. This makes its brand awareness high.
 Its products have maintained quality over the years and are still valued by
customers, who find it as good value for the amount of money that they pay.
 Partnerships: Strategic partnerships are established by Mergers and
Acquisitions with its suppliers, dealers, retailers and other stakeholders. This
allows it to leverage them if need be in the future.
 Weaknesses of Mergers and Acquisitions
 Research and Development: Even though Mergers and Acquisitions is

spending more than the average research and development expenditure within the
15
industry, it is spending way less than a few players within the industry that have
had a significant advantage as a result of their innovative products.
 Rented Property: A significant proportion of the property that Mergers

and Acquisitions owns is rented rather than purchased. It has to pay large amounts
of rent on these adding to its costs.
 Low current ratio: The current ratio that shows the company’s ability to
meet its short term financial obligations is lower than the industry average. This
could mean that the company could have liquidity problems in the future.
 The company has low levels of current assets compared to current liabilities,
and this can create liquidity problems for it in operations.
 Cash flow problems: There is a lack of proper financial planning at

Mergers and Acquisitions regarding cash flows, leading to certain circumstances
where there isn’t enough cash flow as required leading to unnecessary unplanned
borrowing.
 Diversification in the workforce: The workforce at Mergers and

Acquisitions is concentrated with mostly local workers, and low amounts of
workers from other racial backgrounds. Lack of diversification makes it difficult
for employees from different racial background to adjust at the workplace, leading
to loss of talent.
 Quality Control: Mergers and Acquisitions has a lower budget for its
quality control department than competitors. This leads to lack of consistency and
the possibility of damage to quality across its various outlets.
 Lack of legal experience and legal department employees are not highly
qualified.
 The performance appraisal is not in a systematic manner. People are often not
appraised for their performance. This leads to lower work morale and lack of
promotion opportunities for employees.
OPPORTUNITIES OF MERGERS AND ACQUISITIONS

16
 Internet: there has been an increase in the number of internet users all
over the world. This means that there is an opportunity for Mergers and
Acquisitions to expand their presence online; by using the internet to interact with
its customers.
 E-commerce: There has been a new trend and a growth in sales of the e-
commerce industry. This means that a lot of people are now making purchases
online. Mergers and Acquisitions can earn revenue by opening online stores and
making sales through these.
 Social Media: there has been an increase in the number of social media
users worldwide. The three social media platforms; Facebook, Twitter and
Integra, have shown the greatest number of increase in monthly active users.
Mergers and Acquisitions can use social media to promote its products, interact
with customers and collect feedback from them.
 Technological developments: technology comes with numerous

benefits among many departments. Operations can be automated to reduce costs.
Technology enables better data to be collected on customers and improves on
marketing efforts.
 There has been an increase in average household income along with an
increase in consumer spending following the recession. This will result in
growth in Mergers and Acquisitions’ target market with new customers that
can be attracted towards the business.
 Population: the population has been growing and is expected to grow at

a positive rate for the upcoming years. This is beneficial for Mergers and
Acquisitions as there will be an increase in the number of potential customers that
it can target.
 Inflation: The inflation rate has been low and is expected to remain low
in the next two years. This is an opportunity for Mergers and Acquisitions as its
cost of inputs would remain low for the next two years.
17
 Interest rate: Lower interest rates than compared to previous years
provides an opportunity for Mergers and Acquisitions to undergo expansion
projects that are financed with loans at a cheaper interest rate.
 Green government drive: this provides an opportunity for Mergers and
Acquisitions for the sale of Mergers and Acquisitions’ products to federal and
state government contractors.
THREATS OF MERGERS AND ACQUISITIONS

 Technological developments by competitors: New technological
developments by a few competitors within the industry pose a threat to Mergers
and Acquisitions as customer attracted to this new technology can be lost to
competitors, decreasing Mergers and Acquisitions overall market share.
 Suppliers: The bargaining power of suppliers has increased over the years
with the decrease in the number of suppliers. This means that the costs of inputs
could increase for Mergers and Acquisitions.
 New entrants: there have been numerous players that have entered the
market and are gaining market share by gaining existing companies’ market share.
This is a threat to Mergers and Acquisitions as it can lose its customers to these
new entrants.
 Increasing competition: there has been an increase in competition

within the industry putting downward pressure on prices. This could lead to
reduced revenue for Mergers and Acquisitions if it adjusts to the price changes, or
loss of market share if it doesn’t.
 Exchange Rate: the exchange rate keeps fluctuating and this affects a
company like Mergers and Acquisitions that has sales internationally, while its
suppliers are local.
18
 Political uncertainties in the country prove to be a barrier in business,
hindering performance at times and making the business incur unnecessary
costs.
 The fluctuating interest rates in the country do not provide a stable financial
and economic environment.
 Consumer tastes are changing, and this puts pressure on companies to
constantly change their products to meet the needs of these customers.
 Regulations on international trade keep changing, and this requires compliance
by companies if they are to operate globally.
 Substitute products available are also increasing, which is threat collectively
for the whole industry as consumption of current products decrease.
 The rise in prices of fuel has increased in the input costs for Mergers and
Acquisitions. These costs have also increased as other industries that provide
inputs for this company also have suffered from increasing fuel prices, thereby
charging more.
19
COMPANY PROFILE
Firstcry is Asia's largest online store for baby and kids products. We cater to the needs
of our buyers (mothers buying for their kids) from before the kid is born up to his/her
early teens.
COMPANY LOGO
TAGLINE
“Celebrating the happiest cry ever
COMPANY DETAILS OF FIRSTCRY.COM

Parent company Brain bees Solutions Ltd.
Category E-Commerce Pvt,
Sector Online retail-Apparel, baby products, diapers and toiletries
and more
Usp Variety of baby products at reasonable rates
CIN U72100PN2010PTC136340
ROC Code RoC- Pune
Registration 136340
Number
Company Category Company limited by Shares – Non govt company
Class of company Private
Authorised 8473050.0
Capital(Rs)
Paid up Capital(Rs) 7547970.0
Date of 17/05/2010
Incorporation
Email supam1973@gmail.com
Registered Address Rajashree Business Park, Survey No. 338, Next to Sohrabh
Hall, Tadiwala Road Pune Pune MH 411001 IN
20
CO-FOUNDER & CEO, FIRSTCRY
Co-Founder & CEO, Firstcry Supam Maheshwari is the Co-Founder and Chief
Executive Officer at Firstcry. He has a post graduate degree from IIM Ahmedabad.
Supam started a company called Brain visa along with co-founder Amative Asha
before it was sold. For Supam, the motivation to start a baby care company was
rooted in his personal experiences. As a first-time parent (at the time), he faced a
multitude of issues finding the right products for his baby. This led him to start
Firstcry. As per reports, Firstcry (owned by Brain bees Solutions Pvt. Ltd) has raised
over 125 USD in funding from a number of investors including Rattan Tata, Valiant
Capital Partners, SAIF Partners, and IDG till April 2018. In 2016, the company's
valuation was estimated to be around 300-350 million USD.Dec 3, 2019
HOW FIRST CRY BECAME A UNICORN?

After accepting the private placement letter last year in January 2019 for the $400
million investment in Firstcry, Japanese internet and telecom giant Softbank’s Vision
Fund decided to invest $400 million in Firstcry. Thus, raising Firstcry valuation to
$800 million and bringing it quite close to the unicorn mark, from just about $350
million earlier.FirstCry was set to raise around Rs 2,825 crore ($396.34 million) from
Softbank’s $93-billion Vision Fund in two tranches.
According to regulatory filings by First Cry’s holding entity Brain Bees Solutions, it
has approved allotment of 73.1 million Series E equity shares at a price of Rs 386
(including a premium of Rs 381) per share to SVF Frog, a Cayman Islands-registered
entity of Softbank. The company has received $300 million (Rs 2,120.5 crore) in the
first tranche of the investment. The remaining $100 million (Rs 703.71 crore) would
be released on the second anniversary of the deal in January 2021.
21
HISTORY
Firstcry acquires Mahindra's baby care franchisee business for Rs 362 crore
The deal is a stock transaction, under which Firstcry owner Brain bees Solutions will
issue shares worth Rs 355 crore to Mahindra Group and pay Rs 7.5 crore in cash.
Online baby products seller Firstcry is acquiring Mahindra Retail, which runs offline
stores under BabyOye brand, for about Rs 362 crore in a landmark deal in the Indian
retail market. The Pune-based startup, founded by serial entrepreneur Supam
Maheshwari, will acquire the franchisee division of Mahindra Retail, part of the $18
billion software to automobiles conglomerates Mahindra & Mahindra.
The deal is a stock transaction, under which Firstcry owner Brain bees Solutions will
issue shares worth Rs 355 crore to Mahindra Group and pay Rs 7.5 crore in cash. The
deal will help Firstcry, which already has 180 franchised stores, create one of the
largest Omni-channel retail plays in the country, with a strong presence both online
and offline.
As a part of the transaction, Firstcry has also raised Rs 226 crore ($34 million) in
fresh funding from Mahindra Group and Switzerland's Dave, besides existing backers
like IDG Ventures India, SAIF Partners, NEA and Vertex. Infosys co-founder Kris
Gopalakrishnan has also invested in Firstcry. Firstcry.com is a one stop shopping
destination for parents, making available for them the widest collection of baby, kids
and new mom products through its online ecommerce store and through its offline
retail chain of 100+ stores. FirstCry.com’s online store was launched in December of
2010, with a belief that there should be a single, convenient and comprehensive
platform for parents that can help them make well researched and informed choices
for products they need for their kid. Within a small span of time Firstcry has grown to
a young and dynamic organization of a thousand employees serving more than a
Million parents in the country, giving them a choice of more than 100000 products
across 1000+ top International and Indian brands like Mattel, Ben10, Pigeon,
Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, Fisher
Price, Mee and more.
FirstCry aims to provide best of the products/brands at the best prices with a great
online shopping experience, fast and reliable delivery service and a prompt customer
22
care. FirstCry’s warehouses work round the clock across major cities, and in tandem
with FirstCry own logistics arm, XpressBees, ensure prompt order processing,
delivery and delight to its customers. Crossing the boundaries of Internet, FirstCry
runs 100+ brick and mortar Firstcry stores in cities like Bangalore, Mumbai, Delhi,
Karnal, Ahmedabad, Allahabad, Jaipur, Gurgaon, Udaipur, Chennai, Agra, Raichur,
Kota and more. A unique hospital contact program helps FirstCry reach out to 70000+
new parents every month. For parents across the country, Firstcry is like a helping
hand that makes their parenting experience smoother, richer and more fulfilling. And
we are happy to be a contributor to the happiness and joy of their parenting.
Launched in 2010, first cry.com is Asia’s largest online portal for baby and kids
products and offers a range of top brands for babies kids and moms.firstcry as an
inventory of more than 70000 items from over 700 top international and Indian brands
like Mattel, Ben 10, pigeon, funkskool, hotwheels, nuby, farlin, medela, pampers,
Disney, Barbie, gerber, fisherprice, mee and more . they had also launched its own
private label called babyhug(apparel brand) and cutewalk (footwear brand) which was
about to 20 percent of their revenues.
MISSION
Our mission is to provide best of the products/brands at the lowest prices with great
online shopping experience, free shipping and Prompt customer service. Our
benchmark is to provide our customers with a physical stores shopping experience;
online, without the hassles of driving around the town locating a shop and then a place
to park the vehicle. Our sourcing team works with over 150 vendors internationally,
nationally to source the best products/brands for you at the most affordable price. Our
product photographs can be zoomed so that you can read the details on the product
cover before taking an informed decision. All items originate from our warehouse and
have been sourced from authorized representatives or manufacturers. So shop with us,
sit back and relax. Our logistics and customer support team works very hard to get
your goods delivered at the earliest and respond to any queries that you may have.
VISION
Over time, we hope to 'Change' the way, Indian parents buy, so that they can be at
home to spend more quality time with their 'Little ones' and family.
23
CATEGORIES OF FIRST CRY PRODUCTS
 Clothing & Fashion
 Toys
 Books & CDs
 School Supplies
 Birthday Party Supplies
 Baby Diapering
 Feeding & Nursing
 Bath & Skin Care
 Health & Safety Baby Gear Nursery Moms & Maternity Gifts
BUSINESS MODEL
 Business to Business
 Business to consumer
FIRST CRY& MAHINDRA RETAIL CONSOLIDATE BUSINESS

The two largest retail players in the largely unorganized $12bn baby and kids market
in India, FirstCry.com (Brain Bees Solutions Pvt Ltd) and Mahindra Retail
(BabyOye), have consolidated their business activities to create a dominant presence
in this segment. The Board of Directors of the two companies at their respective
meetings have approved this strategic move. In terms of the structure of the
transaction, Mahindra Retail and FirstCry have consolidated their operations, with
Mahindra Retail selling its Franchise business to FirstCry, and operating all company
stores under a FirstCry master franchisee agreement.
FirstCry additionally raises US$ 34 million of new equity capital from the Mahindra
Group, Adveq (a Large Pvt Equity Fund), Kris Gopalakrishnan and participation from
all existing shareholders.
FirstCry has established itself as a leading player in India’s baby and kids market with
a base of more than 3 million parents. It has followed an omni-channel strategy right
from inception, having a presence on the web, on mobile and through physical stores
that stand at 180 today.
24
COMPETITORS
 Kidloo
 BabyOye
 Hush Babies
 Me & Mom
 Hopscotch
 Flipcart
 Amazon
FIRSTCRY SHOPS AND AVAILABILITY

FirstCry runs 100+ brick and mortar Firstcry stores in cities like Bangalore, Mumbai,
Delhi, Karnal, Ahmedabad, Allahabad, Jaipur, Gurgaon, Udaipur, Chennai, Agra,
Raichur, Kota and more. A unique hospital contact program helps FirstCry reach out
to 70000+ new parents every month.
For parents across the country, Firstcry is like a helping hand that makes their
parenting experience smoother, richer and more fulfilling. And we are happy to be a
contributor to the happiness and joy of their parenting.
About firstcry launch by founder Supam Maheshwari We did not face any hiccups
launching FirstCry in the market as during that time the environment had tremendous
hype around the eCommerce market. And by the end of 2010, India’s consumer
facing eCommerce market was growing at a whopping 49.1 per cent and reached a
market size of $9.9 billion the next year. Thus, it was a good time for us to launch a
niche e-retail company then.
INTRODUCTION
FirstCry.com’s online store was launched in December of 2010, with a belief that
there should be a single, convenient and comprehensive platform for parents that can
help them make well researched and informed choices for products they need for their
kid. Within a small span of time FirstCry has grown to a young and dynamic
organization of a thousand employees serving more than a Million parents in the
25
country, giving them a choice of more than 100000 products across 1000+ top
International and Indian brands like Mattel, Ben10, Pigeon, Funskool, Hotwheels,
Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, Fisher Price, Mee and more.
First Cry aims to provide best of the products/brands at the best prices with a great
online shopping experience, fast and reliable delivery service and a prompt customer
care. FirstCry’s warehouses work round the clock across major cities, and in tandem
with FirstCry own logistics arm, XpressBees, ensure prompt order processing,
delivery and delight to its customers. Crossing the boundaries of Internet, FirstCry
runs 100+ brick and mortar Firstcry stores in cities like Bangalore, Mumbai, Delhi,
Karnal, Ahmedabad, Allahabad, Jaipur, Gurgaon, Udaipur, Chennai, Agra, Raichur,
Kota and more. A unique hospital contact program helps FirstCry reach out to 70000+
new parents every month. For parents across the country, Firstcry is like a helping
hand that makes their parenting experience smoother, richer and more fulfilling. And
we are happy to be a contributor to the happiness and joy of their parenting.
Website
http://www.firstcry.com
Industries
Retail
Company size
1001-5000 employees
Type
Privately Held
Founded
2010
Specialties
e-commerce Retail, Baby & Kids Products, Offline Baby & Kids Retail
ChainBrainbees Solutions Private Limited's Annual General Meeting (AGM) was
last held on 25 September 2019 and as per records from Ministry of Corporate
Affairs (MCA), its balance sheet was last filed on 31 March 2019.Directors of
Brainbees Solutions Private Limited are Amitava Saha, Ravi Chandra Adusumalli,
Supam Satyanarayan Maheshwari, Munish Ravinder Varma, Benedict Jerome
Mathias, Zhooben Dossabhoy Bhiwandiwala, Amit Gupta, Paul Alexander
Davison.
26
FINANCIAL REPORTS RELATED:
Balance Sheet
Paid-up Capital
Reserves & Surplus
Long Term Borrowings
Short Term Borrowings
Trade Payables
Current Investments
Inventories
Trade Receivables
Cash and Bank Balances
Profit & Loss
Total Revenue (Turnover)
Total Expenses
Employee Benefit Expenses
Finance Costs
Depriciation
Profit Before Tax
Profit After Tax
THE MEGA CONSOLIDATION OF FIRSTCRY AND

MAHINDRA VENTURES:
This strategic consolidation of the industry’s leading players creates India’s single
most dominant presence in this category, in the combined offline retail and online
environment. The merged entity will conduct its business under the brand name
FirstCry.com- A FirstCry Mahindra Venture. Anand Mahindra believes that the future
belongs to click and brick businesses, and that consolidation is the way to thrive and
establish industry leadership. With this deal, FirstCry.com will have a parent base of
over 4 million, with a footprint of over 300 stores spread across 125 cities. Supam
will continue as the CEO of the combined entity. Mahindra Retail’s team shall be
27
actively involved in giving shape to and operationalising the consolidation, to ensure
consumers and other stakeholders see tangible benefits at the earliest. Supam said,
Our partnership with the Mahindra Group will bring in synergies that will help us
scale and achieve our profitability goal much faster. Together, we will continue to
scout for more opportunities for inorganic growth. Earlier this year, Hopscotch raised
$13 million in Series C funding in a round led by Facebook Co-founder Eduardo
Saverin, eyeing the huge market opportunity. The consolidation sends a strong signal
to the market and other players. FirstCry has further tightened its grip, but organising
the unorganised $12 billion industry remains a massive task ahead.
SUMMARY METRICS:
Founding date 2010
Firstcry total funding $418.4m
Firstcry latest $150m
funding size
Time since last 2months ago
funding
Firstcry investor’s new enterprise associates, valiant capital partners,
Temasek holdings, IDG ventures, vertex ventures, Kris
Gopalakrishnan, Adveq, Mahindra rise, Softbank vision
found, Softbank group corporations.
FIRSTCRY INCOME STATEMENT:

ANNUAL INR FY, 2017 FY, 2018
NETINCOME (39.3b) (5.5b)
FIRSTCRY’S BUSINESS OBJECTIVE:

The foremost objective of the company has always been the best and safe products for
the children of the world by being techno driven and innovation centric and to create
the ultimate eco-system for parents in India.
STRATEGIES ADOPTED BY FIRSTCRY:

Focus on parents:
28
It started with Brainvisa E-learning company (which is a sister company of First
cry)which focused on helping businesses around to increase the learning & training
effectiveness by designing learning solutions which again focused on defined business
objectives.
DIGITAL MARKETING STRATEGY:

FirstCry designed and implemented the technology-driven intricate material and order
management workflow for the smooth operations of the Omni-Channel retailer. It
focused more on Digital Branding, Online Advertising, Content Management,
Communities, Social Media Frameworks, Mobile, Email Marketing, Videos,
YouTube Marketing, Web Experiences and Customer Experiences.
DIRECT MARKETING & ADVERTISING STRATEGY:

First cry did normal TV and print ads in the beginning of their journey but they
realized it was a low return and high cost model. Then they adopted advertisement
through word-of-mouth and online advertising media.
To give a taste of online shopping to in shop customers, firstcry started installing 32”
touch screens in its retail stores, so that customers coming into their shops can also
see what their online store has to offer them.
SOCIAL MEDIA MARKETING:

First Cry used social media platforms like Facebook, Twitter, and Pinterest, Google+
etc. for increasing traffic to its website and for promotions.
OBJECTIVES OF FIRST CRY

 FirstCry.com’s launched the first online store in December of 2010, and
believed that there should be a single, convenient and accessible platform for
parents that can help them make well researched and informed choices for their
kids.
 FirstCry has grown into a dynamic organization of a thousand employees
serving more than a hundred million parents in the country, giving them a choice
of more than thousand products across 1000+ top brands like Mattel, Ben10,
Pigeon, Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie,
29
Gerber, Fisher Price.FirstCry aims to provide best of the products, brands at the
best prices with a great online shopping experience, fast and reliable delivery
service and a prompt customer care.
 The warehouses work round the clock across the cities, and in tandem
with FirstCry own logistics arm, XpressBees, which ensures prompt order
processing, delivery and delight to its customers.
FIRSTCRY’S BUSINESS OBJECTIVE:

The foremost objective of the company has always been the best and safe products for
the children of the world by being techno driven and innovation centric and to create
the ultimate eco-system for parents in India.
STRATEGIES ADOPTED BY FIRSTCRY:

Focus on parents:
It started with Brainvisa E-learning company (which is a sister company of First
cry)which focused on helping businesses around to increase the learning & training
effectiveness by designing learning solutions which again focused on defined business
objectives.
DIGITAL MARKETING STRATEGY:

FirstCry designed and implemented the technology-driven intricate material and order
management workflow for the smooth operations of the Omni-Channel retailer. It
focused more on Digital Branding, Online Advertising, Content Management,
Communities, Social Media Frameworks, Mobile, Email Marketing, Videos,
YouTube Marketing, Web Experiences and Customer Experiences.
DIRECT MARKETING & ADVERTISING STRATEGY:

First cry did normal TV and print ads in the beginning of their journey but they
realized it was a low return and high cost model. Then they adopted advertisement
through word-of-mouth and online advertising media.
30
To give a taste of online shopping to in shop customers, firstcry started installing 32”
touch screens in its retail stores, so that customers coming into their shops can also
see what their online store has to offer them.
SOCIAL MEDIA MARKETING:

First Cry used social media platforms like Facebook, Twitter, and Pinterest, Google+
etc. for increasing traffic to its website and for promotions.
INTERNET MARKETING:
Building a high performing team for delivering products, SEO and Web Analytics.
Creating platforms like WorldofMoms.com for capturing ‘digital moms’ beyond
transactions portraying an example of creative content, community, On Page
Optimization, Off-Page Optimization by maximizing the visibility of client sites in the
digital space, through the management of SEO, through Keyword research,
Competitor Analysis, Meta Tag Creation, Developing the Website.
Creating successful store-front landing pages. Cart, Loyalty Cash Programs, Online
Sales Return Cash Refund, Customer Profile, Reviews and Ratings, Baby Gear
Assembly
Promotion management modules:

Online Reputation Management: Kiosk innovations at First cry stores, is a very
unique concept which acted like a catalog allowing customers to look through the
70,000 and above products on a 32 inch touch screen in stores, order online instantly,
and find the product available at the store in 2-3 days. Thus the kiosks have enabled to
increase conversion rate upto 10%. FirstCry’s also had “Shop’n’Earn” Loyalty cash
program and buying guides for FirstCry.com
MOBILE MARKETING:
FirstCry capitalized on mobile growth by launching mobile products like
FirstCry.com mobile web, android & iOS Apps by posting messages like “Get
everything your baby needs with new and intuitive FirstCry.com Android App! Plus
the ‘big store for little ones’, always handy on his mobile.”
31
INTERNET MARKETING:
Building a high performing team for delivering products, SEO and Web Analytics.
Creating platforms like WorldofMoms.com for capturing ‘digital moms’ beyond
transactions portraying an example of creative content, community, On Page
Optimization, Off-Page Optimization by maximizing the visibility of client sites in the
digital space, through the management of SEO, through Keyword research,
Competitor Analysis, Meta Tag Creation, Developing the Website.
Creating successful store-front landing pages. Cart, Loyalty Cash Programs, Online
Sales Return Cash Refund, Customer Profile, Reviews and Ratings, Baby Gear
Assembly
Promotion management modules:

Online Reputation Management: Kiosk innovations at First cry stores, is a very
unique concept which acted like a catalog allowing customers to look through the
70,000 and above products on a 32 inch touch screen in stores, order online instantly,
and find the product available at the store in 2-3 days. Thus the kiosks have enabled to
increase conversion rate upto 10%. FirstCry’s also had “Shop’n’Earn” Loyalty cash
program and buying guides for FirstCry.com
MOBILE MARKETING :
FirstCry capitalized on mobile growth by launching mobile products like
FirstCry.com mobile web, android & iOS Apps by posting messages like “Get
everything your baby needs with new and intuitive FirstCry.com Android App! Plus
the ‘big store for little ones’, always handy on his mobile.”
AWARDS RECOGNITION OF FIRSTCRY

FIRSTCRY IS PEOPLE'S FIRST CHOICE: VOTED "MOST
POPULAR ONLINE SITE"
Firstcry.com, an Online Baby and Kids store was conferred with the coveted "Most
Popular Online Site" award in the recently concluded Child Awards. This recognition
is a testimony of Firstcry.com's prevalence.
PRESS RELEASE MAY 3, 2013
May 3, 2013 (Newswire.com) - In the recently concluded Child Awards,
FirstCry.com was awarded the "Most Popular Online Site". This is another feather in
the cap of the e-commerce store that focuses on baby and kids products. FirstCry.com
32
is Asia's Largest Online Portal for Baby and Kids products. Babyoye and Flipkart
were the other sites nominated in the category.
Says Supam Maheshwari, Founder Director, "Since our inception, our philosophy has
been to solve the pain of shopping for parents. Nothing makes us happier than times
such as these when customers tell us that we're succeeding in our mission. As an
overarching leader in our space, we will continue to work towards providing the best
brands, products and service and therefore continue to wow parents."
The Child Awards are a measure of the people's voice. Child magazine, one of the
most reputed parenting magazines in the world, carried the questionnaire for four
months in 2012 and also promoted the poll through its Facebook page. Thousands of
readers responded to the poll via mail and online and the results were collated
internally. The poll is entirely a reflection of the readers mandate and Child magazine
did not intervene in any way.
Commenting on the award, Anuj Jain, Sr Vice President Marketing, said "The award,
coming from the world renowned Child magazine and through a poll that is
completely unbiased and credible, is special and for us it is like Mommies saying "we
love you". We enjoy one of the highest customer repeat rates in the industry, standing
at over 50% and this award reinforces the reason why. We humbly accept the award
as encouragement to work harder for Mommies and listen harder to Mommies, after
all Mommies know best!"
FirstCry.com is the clear leader in its niche and, if industry estimates are to be
believed, the portal would have close to 50% share of the online baby and kids market
and far ahead of the second player. The business has been innovative on a lot of fronts
including starting its own delivery infrastructure to control delivery times, operating a
chain of franchisee stores to increase customer reach and starting a loyalty program
for customers, to name just a few. FirstCry.com also has a sister site Goodlife.com to
cater to the lifestyle needs of customers. Goodlife.com allows the FirstCry customer
base to shop for all its needs at one go - two sites, one cart and the same high quality
service. It's clear that FirstCry.com is setting the standard to delight parents and the
Child Award comes as one announcement of this.
33
ANALYSIS AND INTERPRETATION OF THE STUDY
TABLE-1
GENDER CLASSIFICATION
GENDER NO. OF RESPONDENTS PERCENTAGE
Female 44 44
Male 56 56
Other 0 0
Total 100 100
Source: Primary Data
INFERENCE
34
From the above table it is understood that out of the 100 respondents who are
considered for the study, 44% of male and 56% of female.
Hence it is found that male respondants are more than female.
35
GRAPH-1
GENDER CLASSIFICATION
28%
22%
Female
Male
Other
Total
50%
Source: Secondary Data

The above graph is based on the statistical analysis of table-1
36
TABLE-2
MARITAL STATUS
MARITAL STATUS NO. OF RESPONDENTS
Married 11
Unmarried 89
Total 100
INFERENCE:
This analysis shows that out of 100 respondents 11 persons are married and 89
persons are unmarried.
37
GRAPH-2
MARITAL STATUS
45%
6% Married
Unmarried
Total
50%

38
TABLE-3
QUALIFICATION
QUALIFICATION NO. OF RESPONDENTS
SSLC OR 10TH 0
PRE UNIVERSITY 0
UNDER GRADUATION 69
POST-GRADUATION 0
OTHER 31
TOTAL 100
INFERENCE:
This analysis shows that from the respondents 69 persons are under graduation, and
31 persons are other qualification.
39
GRAPH-3
QUALIFICATION
120
100
100
80 SSLC OR 10TH
69 PRE UNIVERSITY
UNDER GRADU-
60 ATION
POST-GRADUATION
OTHER
40 TOTAL
31
20
0 0 0
0

40
TABLE-4
OCCUPATION
OCCUPATION NO. OF RESPONDENTS
Student 78
Employee 16
Business 0
Other 6
Total 100
INFERENCE:
This analysis that the maximum numbers of people78 out of 100 are students, in
which 16 persons are employees. The number of people in business is 0 and 6 people
are other.
Hence the majority of respondents are students.
41
GRAPH-4
OCCUPATION
120
100
100
80 78
Student
Employee
60 Business
Other
Total
40
20 16
6
0
0

42
TABLE-5
ANNUAL SALARY
ANNUAL SALARY NO. OF RESPONDENTS
100000 – 200000 20
300000 and above 13
Below 100000 13
None 58
Total 100
INFERENCE:
This analysis show that from the respondents the annual salary of 20 persons are
between 1-2 lakhs, annual salary of 13 persons are 3 lakhs and above, and the annual
salary of 13 persons are below 1lakh and the remaining 58 persons have opted for
none.
Hence the maximum number of respondent salary is between 1-2 lakhs.
43
GRAPH-5
ANNUAL SALARY
120
100
100
80
100000 – 200000
300000 and above
60 58 Below 100000
None
Total
40
20
20 13 13

The above graph is based on the statistical analysis of table-5.
44
TABLE-6
AWARENESS OF TERM MERGERS AND AQUISITION
AWARENESS OF TERM MERGERS AND NO. OF

ACQUISITION RESPONDENTS
Yes 60
No 40
Total 100
Source: Primary data
INFERENCE
The analysis shows that the majority are aware of term mergers and acquisition where
as 60% are opted for yes and rest 40% opted No.
Hence the majority are aware of the term mergers and acquisition..
45
GRAPH-6
AWARENESS OF TERM MERGERS AND AQUISITION
30%
20%
Yes
No
Total
50%
Source: Secondary data

46
TABLE-7
QUALIFICATION
QUALIFICATION NO. OF RESPONDENTS
SSLC 0
PUC 6
Undergraduate 70
Others 24
Total 100
INFERENCE
This analysis that the maximum numbers of people 70 out of 100 are undergraduate,
24 persons are others. 6 people are PUC.
Hence majority are undergraduates.
47
GRAPH-7
QUALIFICATION
120
100
100
80
70 SSLC
PUC
60 Undergraduate
Others
Total
40
24
20
6
0
0

48
TABLE-8
REASON FOR AVULSION IS SYNERGY, WHERE SYNERGY
INCLUDES
REASON FOR AQUISION IS SYNERGY, WHERE NO. OF

SYNERGY INCLUDES RESPONDENTS
Lower taxes 16
Cost reductions 16
Revenue enhancements 20
All of these 48
Total 100
INFERENCE
The analysis shows that the majority reason for aquision is synergy are all the three
options whereas lower taxes has 16 and cost reduction has 16 and revenue
enhancements has 20 and majority has all of these .
Hence the majority are all of these .
49
GRAPH-8
REASON FOR AVULSION IS SYNERGY, WHERE SYNERGY
INCLUDES
120
100
100
80
Lower taxes
Cost reductions
60 Revenue enhancements
48 All of these
Total
40
20
20 16 16

50
TABLE-9
AGREEMENT BETWEEN TWO OR MORE FIRMS TO
COOPERATE TO ACHIEVE A JOINT GOAL
AGREEMENT BETWEEN TWO OR MORE FIRMS NO. OF

TO COOPERATE TO ACHIEVE A JOINT GOAL RESPONDENTS
Merger Alliance 42
Consolidation 10
Joint venture 42
Strategic allowance 6
Total 100
INFERENCE
The analysis shows that the agreement between two or more firms to cooperate to
achieve a joint goal is due to merger alliance where as 42 persons opted merger
alliance 10 people for consolidation, 42 people for joint venture and only 6 people are
strategic allowance.
Hence the majority are for merger allowance and joint venture.
51
GRAPH-9
AGREEMENT BETWEEN TWO OR MORE FIRMS TO
COOPERATE TO ACHIEVE A JOINT GOAL
120
100
100
80
Merger Alliance
Consolidation
60 Joint venture
Strategic allowance
42 42 Total
40
20
10
6
0

52
TABLE-10
INITIAL STAGE IN MERGERS AND AQUISION PROCESS IN
INDIA
INITIAL STAGE IN MERGERS AND AQUISION NO. OF

PROCESS IN INDIA RESPONDENTS
Propasal phase 37
Planning Exit 25
Business Valuation 25
Structuring Business 13
Total 100
INFERENCE
The analysis shows that the Initial stage in mergers and aquision process are 37
people voted for proposal phase, 25 voted for planning exit, 25 people voted for
business valuation and 13 voted for structuring business.
Hence the majority is for proposal phase.
53
GRAPH-10
INITIAL STAGE IN MERGERS AND AQUISION PROCESS IN
INDIA
120
100
100
80
Propasal phase
Planning Exit
60 Business Valuation
Structuring Business
37 Total
40
25 25
20 13

54
TABLE-11
HOW SHOULD A MERGED FIRM MAINTAIN FEXIBILITY
HOW SHOULD A MERGED FIRM MAINTAIN NO. OF

FEXIBILITY RESPONDENTS
Low to high Debt 44
Low to moderate Debt 20
High to low debt 24
High Debt 12
Total 100
INFERENCE
The analysis shows that how should a merged firm maintain fexibility where as the
majority are for low to high debt that is 44 people , 20 people for low to moderate
debt, 24 people are high to low debt and 12 people are high debt.
Hence the majoruty is for low to high debt.
55
GRAPH-11
HOW SHOULD A MERGED FIRM MAINTAIN FEXIBILITY
120
100
100
80
Low to high Debt
Low to moderate Debt
60 High to low debt
High Debt
44 Total
40
24
20
20
12

56
TABLE-12
FORM OF ACQUISITION THAT DO NOT REQUIRE A FORMAL
VOTE BY SHARE HOLDERS OF THE ACQUIRED FIRM
FORM OF ACQUISITION THAT DO NOT REQUIRE NO. OF

A FORMAL VOTE BY SHARE HOLDERS OF THE RESPONDENTS
ACQUIRED FIRM
Consolidation 51
Acquisition of stock 17
Acquisition of assets 17
None of these 15
Total 100
INFERENCE
The analysis shows that the form of acquisition that do not require a formal vote by
share holders of the acquired firm is 51 people are for consolidation, 17 people are for
acquisition of stock, 17 people are for acquisition of assets and 15 people are for none
of these.
Hence the majority are for consolidation.
57
TABLE-12
FORM OF ACQUISITION THAT DO NOT REQUIRE A FORMAL
VOTE BY SHARE HOLDERS OF THE ACQUIRED FIRM
120
100
100
80
Consolidation
Acquisition of stock
60 Acquisition of assets
51
None of these
Total
40
20 17 17 15

58
TABLE-13
STRATEGIES FOR A A PUSH DOWN OF DEBT ON
ACQUISITION HAVE TO BE ANALYSED UNDER WHICH
SCENARIOS
STRATEGIES FOR A A PUSH DOWN OF DEBT ON NO. OF RESPONDENTS

ACQUISITION HAVE TO BE ANALYSED UNDER
WHICH SCENARIOS
Foreign Debt 19
Local Debt 20
Both A and B 53
None of these 8
Total 100
INFERENCE
The analysis shows that strategies for a a push down of debt on acquisition have to be
analysed under which scenarios initially 19 people opted for foreign debt, 20 for local debt,
and majority are for both A and B that is 55 and 8 for none of these.
Hence the majority are for both A and B.
59
GRAPH-13
STRATEGIES FOR A A PUSH DOWN OF DEBT ON
ACQUISITION HAVE TO BE ANALYSED UNDER WHICH
SCENARIOS
120
100
100
80
Foreign Debt
Local Debt
60 53 Both A and B
None of these
Total
40
19 20
20
8

60
TABLE-14
EFFECTS ON EMPLOY DUE TO MERGERS OF ACQUISITIONS
CAN BE
EFFECTS ON EMPLOY DUE TO MERGERS OF NO. OF

ACQUISITIONS CAN BE RESPONDENTS
Reduction in employees 20
Rationalisation 20
Job losses 15
All of the above 45
Total 100
INFERENCE
The analysis shows that Effects on employ due to mergers of acquisitions can be 20
people are reduction in employees, 20 people are for rationalisation, 15 people are for
job losses, and majority is for alkl the above that is 45 people.
Hence the majority is for all the above.
61
GRAPH-14
EFFECTS ON EMPLOY DUE TO MERGERS OF ACQUISITIONS
CAN BE
120
100
100
80
Reduction in employees
Rationalisation
60 Job losses
45 All of the above
Total
40
20 20
20 15

62
TABLE-15
WHICH OF THE TYPE OF MERGERS AND ACQUISITION
WHICH OF THE TYPE OF MERGERS AND NO. OF

ACQUISITION RESPONDENTS
Conglomerate 18
Horizontal 4
Vertical 8
All of the above 70
Total 100
INFERENCE
The analysis shows that which of the type of mergers and acquisition is 18 people
said that conglomerate, 4 said that is horizantal, 8 said that is vertical and majority 70
people said that all the three types are of mergers and acquisitions.
63
GRAPH-15
WHICH OF THE TYPE OF MERGERS AND ACQUISITION
120
100
100
80
70 Conglomerate
Horizontal
60 Vertical
All of the above
Total
40
20 18
8
4
0

64
TABLE-16
REASONS FOR MERGERS AND AQUISITION
REASONS FOR MERGERS AND AQUISITION NO. OF RESPONDENTS
Financial synergy 20
Accelerate Growth 20
Tax considerations 1
All of the above 59
Total 100
INFERENCE
The analysis shows that the reasons for mergers and aquisition 20 people are for
financial synergy, 20 people for accelerate growth, 1 person for tax considerations and
majority is for all the above that 59 people.
65
GRAPH-16
REASONS FOR MERGERS AND AQUISITION
120
100
100
80
Financial synergy
Accelerate Growth
59
60 Tax considerations
All of the above
Total
40
20 20
20
1
0

66
TABLE-17
AGE
AGE NO. OF RESPONDENTS
18 -24 years 90
25 - 30 years 9
30 and above 1
Total 100
INFERENCE
The analysis shows that the majority is 90 people are between 18 – 24 years age, 9
people are between 25 – 30 years age, 1 person is 30 and above.
Hence the majority are between the age of 18 – 24 years.
67
GRAPH-17
AGE
120
100
100
90
80
18 -24 years
25 - 30 years
60
30 and above
Total
40
20
9
1
0

68
TABLE-18
POOR STRATEGIC IN MERGERS AND ACQUISITION
REFERRED TO
POOR STRATEGIC IN MERGERS AND NO. OF

ACQUISITION REFERRED TO RESPONDENTS
Failure position 64
Good position 13
Both A and B 23
Total 100
INFERENCE
The analysis shows that Poor Strategic in mergers and acquisition referred where as
majority is 64 people are for failure position, 13 people are for good position, and 23
people are for both A and B.
Hence the majority is for failure position.
69
GRAPH-18
POOR STRATEGIC IN MERGERS AND ACQUISITION
REFERRED TO
120
100
100
80
Failure position
64
Good position
60
Both A and B
Total
40
23
20 13

70
TABLE-19
ACQUISITION OF A FIRM INVOLVED WITH A DIFFERENT
PRODUCTION PROCESS STAGE THAN THE BIDDER IS
CALLED A _____ ACQUISITION
THE ACQUISITION OF A FIRM INVOLVED WITH A NO. OF

DIFFERENT PRODUCTION PROCESS STAGE THAN RESPONDENTS
THE BIDDER IS CALLED A _____ ACQUISITION
Conglomerate 42
Forward 30
Backward 17
Horizontal 11
Total 100
INFERENCE
The analysis shows that the acquisition of a firm involved with a different production
process stage than the bidder is called a _____ acquisition where as 42 people for
conglomerate, 30 people are for forward, 17 people for backward, and 11 people are
for horizantal.
Hence the majority is for conglomerate.
71
GRAPH-19
ACQUISITION OF A FIRM INVOLVED WITH A DIFFERENT
PRODUCTION PROCESS STAGE THAN THE BIDDER IS
CALLED A _____ ACQUISITION
120
100
100
80 Conglomerate
Forward
60 Backward
42 Horizontal
40 Total
30
20 17
11

72
TABLE-20
SPOILING TACTICS
SPOILING TACTICS NO. OF RESPONDENTS
Delaying tactics legally 46
Green Mail 15
Stripping tactics 26
Poison Pill 13
Total 100
INFERENCE
The analysis shows that the spoiling tactics majority 46 people said that delaying
tactics legally,15 people are for green mail, 26 people are for stripping tactics and 13
people are for poison pill.
Hence the majority is for delaying tactics legally.
73
GRAPH-20
SPOILING TACTICS
120
100
100
80
Delaying tactics legally
Green Mail
60
46 Stripping tactics
Poison Pill
40
Total
26
20 15 13
0
No. of respondents

74
TABLE-21
FOR A PUSH DOWN DEBT ONACQUISITION HAVE TO BE
ANALYSED UNDER WHICH SCENARIOS
A PUSH DOWN DEBT ONACQUISITION HAVE TO NO. OF

BE ANALYSED UNDER WHICH SCENARIOS RESPONDENTS
Foreign Debt 19
Local Debt 18
Both A and B 53
None of these 10
Total 100
INFERENCE
The analysis shows that a push down debt onacquisition have to be analysed under
which scenarios where as 19 people opted for foreign debt, 18 people opted for local
debt, and majority 53 people opted for both A and B and 10 people opted for none of
these.
Hence the majority is for both A and B.
75
GRAPH-21
FOR A PUSH DOWN DEBT ONACQUISITION HAVE TO BE
ANALYSED UNDER WHICH SCENARIOS
120
100
100
80 Foreign Debt
Local Debt
60 53 Both A and B
None of these
40 Total
19 18
20
10

76
TABLE-22
AN AGREEMENT BETWEEN TO OR MORE FIRMS TO
COOPERATE TO ACHIEVE A JOINT GOAL IS CALLED
AN AGREEMENT BETWEEN TO OR MORE FIRMS TO NO. OF

COOPERATE TO ACHIEVE A JOINT GOAL IS CALLED RESPONDE
NTS
Merged alliance 44
Consolidation 10
Joint venture 42
Strategic Allowance 4
Total 100
INFERENCE
The analysis shows that An agreement between to or more firms to cooperate to
achieve a joint goal is called 44 people said that merged alliance, 10 people said that
consolidation, 42 people said that joint venture, and only 4 people said strategic
allowance.
Hence the majority is for merged allowance
77
GRAPH-22
AN AGREEMENT BETWEEN TO OR MORE FIRMS TO
COOPERATE TO ACHIEVE A JOINT GOAL IS CALLED
50
45 44
42
40
35
30 Merged alliance
Consolidation
25
Joint venture
20 Strategic Allowance
15
10
10
5 4

78
TABLE-23
CONVEYS THE INTEND TO DISPLAY THE EXISTING
MANAGEMENT AND SEEK CONTROLS OF AFFAIRS
CONVEYS THE INTEND TO DISPLAY THE NO. OF

EXISTING MANAGEMENT AND SEEK CONTROLS RESPONDENTS
OF AFFAIRS
Acuisitions 20
Takeover 15
Both A and B 60
None of these 5
Total 100
INFERENCE
The analysis shows that the Conveys the intend to display the existing management
and seek controls of affairs where as 20 people voted for acquisitions 15 people for
takeover, and 60 people are for both A and B and 5 for none of these.
Hence the majority is for both A and B.
79
GRAPH-23
CONVEYS THE INTEND TO DISPLAY THE EXISTING
MANAGEMENT AND SEEK CONTROLS OF AFFAIRS
120
100
100
80 Acuisitions
60 Takeover
60
Both A and B
None of these
40
Total
20
20 15
5
0
No. of respondents

80
TABLE-24
TAX IMPLICATIONS FACTOR UNDER MERGERS AND
ACQUISITIONS INCLUDES:
TAX IMPLICATIONS FACTOR UNDER MERGERS NO. OF

AND ACQUISITIONS INCLUDES: RESPONDENT
S
Tax burden for venders 13
Deferred Taxes for investors 27
Tax burden for the company 10
All the above 50
Total 100
INFERENCE
The analysis shows that tax implications factor under mergers and acquisitions
includes: 13 people are for tax burden for vendors, 27 for deffered taxes for investors,
10 people for tax burden for the company and majority is 50 people are for all the
above.
81
GRAPH-24
TAX IMPLICATIONS FACTOR UNDER MERGERS AND
ACQUISITIONS INCLUDES:
120
100
100
Tax burden for venders
80 Deferred Taxes for
investors
60 Tax burden for the
50
company
40 All the above
27 Total
20 13 10

82
TABLE-25
FIRM IS MOST LIKELY TO BE A BARGAIN FOR AN AQUIRER
IF
FIRM IS MOST LIKELY TO BE A BARGAIN FOR NO. OF

AN AQUIRER IF RESPONDENTS
It’s ratio is less than one 33
The combination is more expensive than internal expansion 28
It’s q ratio is greater than one 26
The replacement cost of its assets is less than the value 13
Total 100
INFERENCE
The analysis shows that firm is most likely to be a bargain for an aquirer therefore 33
people said that when its ratio is less than one, 28 people said that when The
combination is more expensive than internal expansion, 26 people said when It’s q
ratio is greater than one and 13 people said when The replacement cost of its assets is
less than the value.
Hence the majority is when its ratio is less than one.
83
GRAPH-25
FIRM IS MOST LIKELY TO BE A BARGAIN FOR AN AQUIRER
IF
120
100
100
It’s ratio is less than one
The combination is more
80 expensive than internal
expansion
60 It’s q ratio is greater than
one
40 33 The replacement cost of
28 26 its assets is less than the
value
20 13 Total
0
No. of respondents

84
TABLE-26
STEPS INVOLVED IN ANY MERGERS AND ACQUISITIONS
STEPS INVOLVED IN ANY MERGERS AND NO. OF

ACQUISITIONS RESPONDENTS
Asearch and screen targets 8
Pre-aquisition 22
Investigate and valuation of the target 5
All the above 65
Total 100
INFERENCE
The analysis shows that steps involved in any mergers and acquisitions 8 people are
for a search and screen targets, 22 people for pre acquisition, 5 people are for
investigate and valuation of the target, and majority 65 people are for all the above.
85
GRAPH-26
STEPS INVOLVED IN ANY MERGERS AND ACQUISITIONS
120
100
100
A search and screen targets
80
65
Pre-aquisition
60
Investigate and valuation
of the target
40 All the above
22 Total
20
8 5
0
No. of respondents

86
TABLE-27
PROBLEMS OF MERGERS AND ACQUISITIONS
PROBLEMS OF MERGERS AND NO. OF

ACQUISITIONS RESPONDENTS
Mergers overely focused on acquisition 12
Overly diversified 18
Reduced flexibility 17
All the above 53
Total 100
INFERENCE
The analysis shows that Problems of mergers and acquisitions where as 12 people
said that mergers overely focused on acquisition, 18 people are for overly diversified,
17 are for reduced flexibility, and majority is for all the above.
87
GRAPH-27
PROBLEMS OF MERGERS AND ACQUISITIONS:
120
100
100
80 Mergers overely focused

on acquisition
Overly diversified
60 53 Reduced flexibility
All the above
40 Total
20 18 17
12

88
TABLE-28
WHICH REDUCE THE AVERAGE PRODUCTION COST
FOLLOWING A MERGER
WHICH REDUCE THE AVERAGE PRODUCTION NO. OF

COST FOLLOWING A MERGER RESPONDENT
S
A vertical merger 32
A conglomerate merger 38
Net operating losses of an acquired firms 20
The existence of economies and scale 10
Total 100
INFERENCE
The analysis shows that which reduce the average production cost following a merger
32 people are over for A vertical merger, 38 people are for A conglomerate merger,
20 people are for net operating losses of an acquired firms and 10 people are for the
existence of economies and scale.
Hence the majority is for A conglomerate merger.
89
GRAPH-28
WHICH REDUCE THE AVERAGE PRODUCTION COST
FOLLOWING A MERGER
120
100
100
A vertical merger
80 A conglomerate merger
Net operating losses of an
60 acquired firms
The existence of
40 38 economies and scale
32
Total
20
20
10

90
TABLE-29
IS A DEFENSIVE TACTIC AGAINST A HOSTILE TAKE OVER
BY TENDER OFFER
A DEFENSIVE TACTIC AGAINST A HOSTILE TAKE NO. OF

OVER BY TENDER OFFER RESPONDENTS
Saturday night special 11
Conglomerate merger 30
Acquisition 44
Leveraged buyout (LBO) 15
Total 100
INFERENCE
The analysis shows that a defensive tactic against a hostile take over by tender offer
whereas 11 people for Saturday nignt special, 30 people are for conglomerete merger,
44 people are for acquisition, and 15 for leveraged buyout (LBO).
Hence the majority is for acquisition.
91
GRAPH-29
IS A DEFENSIVE TACTIC AGAINST A HOSTILE TAKE OVER
BY TENDER OFFER
120
100
100
80 Saturday night special

Conglomerate merger
60 Acquisition
44 Leveraged buyout (LBO)
40 Total
30
20 15
11

SUMMARY OF FINDINGS AND CONCLUSIONS

92
FINDINGS
 Firstcry.com is facing a tough competition from the companies with same
kind of products.
 Brand awareness has a real and visible impact in the buying behavior of the
people.
 Most of the customers are not aware of advertising campaign that are be
conducted by firstcry.com.
 The promotional strategy of firstcry.com is effective in the form of
electronic media and mass media.
 Availability of both online and offline services providing to customers.
 Firstcry.com intellitest support systems for franchises.
 The last few years has marked its entry into education with launch of the
firstcry.com “INTELLI BRAND”.
 Low risk and ROI.
 The brand firstcry is treated by over 10 million parents.
 Therefore it has proven succesful business have been launched under the
firstcry umbrella.
93
CONCLUSION
Firstcry.com is an india’s largest online kids store, today firstcry.com has become the
ultimate destination for almost all parents who love to buy stuff online in our country.
There is no other market place which is providing stiff competition to firstcry.com as
an online retail market place.
The customers are aware largely of the product with the help of youtube and through
social media and the product still has a way to increase its advertising channels to
reach the relatively large number of people.
Therefore the company has aided with a required information which is hugely useful
to do this project.
94
SUMMARY OF RECOMMENDATIONS
 The distribution channel should be more effective.

 It also should keep focusing on its competitor strategy and should come up
continously attractive offers.
 Banner and poster will be helpful to increase the demand of firstcry.com and
also create awareness about the product.
 Free boxes from firstcry.com are realkly very good and it should remain
continued so that the organisation will continue to remain acting as a leader.
 Therefore it should always act favoured towards customer for best
increments and success.
95

Research Design & Mergers and Acquisitions

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Research Design & Mergers and Acquisitions

Uploaded by

Copyright:

Available Formats

RESEARCH DESIGN

STATEMENT OF THE PROBLEM

PLAN OF THE STUDY

CHAPTER: 03 COMPANY PROFILE

CHAPTER: 04 ANALYSIS AND INTERPRETATION OF THE

CHAPTER: 05 SUMMARY OF FINDINGS AND CONCLUSIONS

CHAPTER: 06 SUMMARY OF RECOMMENDATIONS

THE ESSENCE OF MERGER

THE ACTION OF ACQUISITION

TYPES OF MERGERS & ACQUISITIONS

THE STRUCTURE OF MERGERS

Another acquisition deal known as a "reverse merger" enables a private company to

MERGERS & ACQUISITIONS CAN TAKE PLACE:

PRINCIPLE BEHIND ANY M&A IS 2+2=5

THREE IMPORTANT CONSIDERATIONS SHOULD BE TAKEN

STAGES INVOLVED IN ANY M&A:

THE ROLE OF INCOMETAX IN SUPPORTING MERGERS AND

Most of today’s enterprises depend heavily on the information systems that

MERGERS AND ACQUISITIONS SWOT ANALYSIS

External Opportunities Threats

The SWOT analysis matrix helps in the development of 4 types of strategies by

SWOT ANALYSIS OF MERGERS AND ACQUISITIONS

Strengths of Mergers and Acquisitions

 Distribution and Reach: Mergers and Acquisitions has a large number

 Dealer Community: Mergers and Acquisitions has a strong relationship

 Financial Position: Mergers and Acquisitions has a strong financial

 Return on Capital Expenditure: Mergers and Acquisitions has been

 Automation: of various stages of production has allowed the more

 Skilled Labor force: Mergers and Acquisitions has invested extensively

 Social Media: Mergers and Acquisitions has a strong presence on social

 Website: Mergers and Acquisitions has a well-functioning and interactive

 Product Portfolio: Mergers and Acquisitions has a large product

 Research and Development: Even though Mergers and Acquisitions is

 Rented Property: A significant proportion of the property that Mergers

 Cash flow problems: There is a lack of proper financial planning at

 Diversification in the workforce: The workforce at Mergers and

OPPORTUNITIES OF MERGERS AND ACQUISITIONS

 Technological developments: technology comes with numerous

 Population: the population has been growing and is expected to grow at

THREATS OF MERGERS AND ACQUISITIONS

 Increasing competition: there has been an increase in competition

COMPANY DETAILS OF FIRSTCRY.COM

HOW FIRST CRY BECAME A UNICORN?

FIRST CRY& MAHINDRA RETAIL CONSOLIDATE BUSINESS

FIRSTCRY SHOPS AND AVAILABILITY

THE MEGA CONSOLIDATION OF FIRSTCRY AND

FIRSTCRY INCOME STATEMENT:

FIRSTCRY’S BUSINESS OBJECTIVE:

STRATEGIES ADOPTED BY FIRSTCRY:

DIGITAL MARKETING STRATEGY:

DIRECT MARKETING & ADVERTISING STRATEGY:

SOCIAL MEDIA MARKETING:

OBJECTIVES OF FIRST CRY

FIRSTCRY’S BUSINESS OBJECTIVE:

STRATEGIES ADOPTED BY FIRSTCRY:

DIGITAL MARKETING STRATEGY:

DIRECT MARKETING & ADVERTISING STRATEGY:

SOCIAL MEDIA MARKETING:

Promotion management modules:

Promotion management modules:

AWARDS RECOGNITION OF FIRSTCRY

GENDER NO. OF RESPONDENTS PERCENTAGE

Total 100 100