CHAPTER-1 INDUSTRY PROFILE Steel Industry in India Steel, alloy of iron, carbon, and small proportions of other elements.

Iron contains impurities in the form of silicon, phosphorus, sulfur, and manganese; steelmaking involves the removal of these impurities, known as slag, and the addition of desirable alloying elements. The history of iron and steel industry in India is nearly 4000 year old. The iron pillars at the outskirts of Delhi prove that Indians were familiar with iron and steel even during the Vedic age. But the father of the modern steel industry Sir Jarmshedji Tata setup the Tata Iron and steel company (TISCO) in1907.The first steel ingots were rolled in TISCO in 1911.This was followed by the establishment of the Mysore iron and steel works in 1936, later renamed as Visveswaraya iron and steel works. In 1939, India iron and steel company (IISCO), now a subsidiary of steel authority of steel Authority of India limited (SAIL) was started, at the time of independence; India possessed a small but viable steel industry with an annual capacity of 1.3 million tones. In 1951, India produced 1.1 basic sector-received the full attention of the government and with the foreign assistance and own resources, many new steel plants were set up. Steel ministry, at present has 12 public sector undertakings (PSUs) including the steel Authority of India limited (SAIL), National Mineral Development corporation (NMDC), Kudramukh iron ore company limited (KIOCL),Rastriya ispat nigam limited (RINL) and Metallurgical and engineering consultants India limited (MECON). Changes Unit the 1990s, the iron and steel sector was by and large the exclusive preserve of only the public sector, the sole exception being TISCO. The new economic policy announced in 1991 was a significant mile stone which brought out a sea change in India underwent a sea change with the advent of major steel producers in the private sector

with the world class technologies and capacities many all India financial institutions came forward to support the private investment of bout Rs.30,000 crore to create an additional producer in the world producing 27.82 million tonees of finished steel a year. The industry represents nearly Rs.9,000 crore of capital and directly provides employment to over 0.5 million people. The worlds largest producer of steel is China (107mt) followed by Japan (104mt.) and USA (97mt.) Production and process growth The health of the iron and steel industry is linked with the economic condition of the nation. The general slow down of the economy and some other factors like dumping from the CIS and south East Asian countries in the last two year; have adversely affected the Indian steel industry. However, with the expected growth rate of the economy, led by large-scale investments in infrastructure and housing sectors, the iron and steel sector has shown growth, the production of finished steel has gone up by 12 per cent during 19992000 compared to 1998-99 while that of pig iron increased by 5 per cent and sponge iron by 2 per cent. Steel was first made by cementation, a process of heating bars of iron with charcoal in a closed furnace so that the surface of the iron acquired high carbon content. The crucible method, originally developed to remove the slag from cementation steel, melts iron and other substances together in a fire-clay and graphite crucible. The famous blades of Damascus and of Toledo, Spain, were made by the cementation and crucible techniques. The, open-hearth process and they are more widely used in modern steelmaking. The open-hearth uses a type of furnace called a regenerative furnace; instead of a firebox at one end and a flue at the other, it has devices at each end for the intake and outflow of both fuel and air. The air is preheated by a system of current reversals that causes very high temperatures. This process, developed in 1866 by Sir William Siemens, uses iron ore and pig iron. In the basic oxygen process, or Linz-Donawitz process, developed in the 1950s, the design of the furnace is changed, and oxygen added to the air intake permits more rapid refining of the charge (material in the furnace). The electric-arc furnace is another modern development; it provides a means of making large quantities of high-

grade steel, with the advantages of positive temperature control, freedom from contamination of the product by the fuel, and simultaneous deoxidation and desulphurization actions. Steel is shaped for commercial use in rolling mills, where successive passages of the redhot ingot between variously shaped rollers give it the desired form. Pittsburgh, one of the world's great steel centers, built its first rolling mill in 1811; Bessemer steel rails were rolled in Chicago as early as 1865.

Types and Uses Steel is often classified by its carbon content: high-carbon steel is serviceable for dies and cutting tools because of its great hardness and brittleness; low- or medium-carbon steel is used for sheeting and structural forms because of its amenability to welding and tooling. Alloy steels, now most widely used, contain one or more other elements to give them specific qualities. Aluminum steel is smooth and has a high tensile strength. Chromium steel finds wide use in automobile and airplane parts on account of its hardness, strength, and elasticity, as does the chromium-vanadium variety. Nickel steel is the most widely used of the alloys; it is nonmagnetic and has the tensile properties of high-carbon steel without the brittleness. Nickel-chromium steel possesses a shock resistant quality that makes it suitable for armor plate. Wolfram (tungsten), molybdenum, and high-manganese steel are other alloys. Stainless steel, which was developed in England, has a high tensile strength and resists abrasion and corrosion because of its high chromium content. Exports The export performance of the Indian steel industry was very good during 1999-2000 Exports of finished steel increased by almost 51 per cent to 2.6 million tones while exports of pig iron increased to 2.9 million tones. International prices have started firming up, and this would ensure the continued presence of Indian steel in the global markets. Exports are also expected to take care of the increased supply of some finished steel products especially from the new producers in the country. Domestic steel prices have also firmed up in line with the international markets. This is expected to improve 3

the bottom line of the major steel producers in the country. In the first quarter of the 2000-01, the steel sector has kept up its tempo of production and export of the last quarter of 1999-2000. Per Capita Consumption Indias present per capita consumption of crude steel is only 24 kg. Which is very low compared to the developed and developing countries -422 kg. In USA, 417 kg. In Germany, 109 kg. In Russia and 87 kg. In China our consumption is less than 1/5 th of the world average i.e. 121 kg. Government of India has taken a number of steps to boost up the per capita consumption of steel in the country. Ministrys Initiatives Due to slow down in steel industry in the world, many steel companies in India incurred losses after 1997-98.The giant PSU,SAIL made a loss of Rs. 1574 crore. The government recently has approved a financial and business restructuring package for SAIL involving a massive waiver of Rs.5073 crore from steel Development Fund and Rs381 crore from the government of India. The other measures in the package include provision of government guarantee for Rs.3000 crore to be raised by SAIL for its VRS scheme and to meet its repayment obligations on past loans. SAIL has been asked in the package to initiate process of divestment in some non-core assets protecting jobs of its existing employees. With the government initiative, the mining lea for the Kudramukh Iron ore project has been renewed for a year and steps are being taken to get 20 year lease. The government also approved a second capital restructuring package for RINL in May 1998 converting Rs. 133.47 crore in preferential capital. The company has also prepared a turn- around plan to get out of its financial difficulties. The government has been making all out efforts to help the domestic steel industry to overcome their problems. To boost the demand and consumption of steel, an institution for steel Development and growth (INSDAG) has been set up involving the leading steel producers in the country. The development commissioner for Iron and steel had launched a national campaign for increasing the demand for steel in the non

traditional sectors, particularly in the construction, rural and agro- based industrial sectors. Other areas include reduction in power and railway tariffs, reduction in input costs, strengthening of anti-dumping mechanism, setting up a steel exporters forum and an empower committee for research and development. Developments in the Steel Era: Mild steel plain bars for concrete reinforcement with low yield strength of 250 N/mm2 ruled the construction industry in India till 1960s. All attempts to increase its yield strength by the conventional method of increasing the carbon content in the steel were unsuccessful as high carbon reduced the ductility; bend ability and weld ability of the bars. Introduction of TOR steel in 1970s increased the yield strength dramatically to 415N/mm2. On account of cold twisting, TOR steel had dramatically increased yield strength and ribbing provided increased bond strength that earmarked the entry of high strength that earmarked the entry of high strength rebar in the Indian market. With continuous technology development and constant research, a new type of high adhesion reinforcing concrete bars have been developed that are manufactured by a superior weldability, bendability, ductility and high strength. Steel Industry Looks Ahead India has a long heritage of iron and steel making. The journey started in ancient times and through the ages this evolved and matured into a vibrant and modern industry at par with the best in the world. The iron and steel industry in India started nearly 100 years ago in Jamshedpur. The Tata iron and steel company (TISCO), started under the aegis of the pioneering Indian entrepreneur Sir Jamshedji Tata had been the icon of the nationalistic pride during the colonial period. The steel sector was one of the primary vehicles of economic development in independent India. India is endowed with essential raw materials such as iron ore and coal. The industry has widespread forward and backward linkages with the rest of the economy. The founding fathers of Indias five year plans treated this as a priority sector and the industry rose to commanding heights of the economy through large-scale

capacity creation in the public sector. Since then it has passed through various phases of changing domestic and external policy environment. The industry as a whole has responded to the emerging compulsions of the changing times. It has survived well with its impressive array of achievements. In the initial years of economic planning the state stepped in as a regulator and a guide to reconcile the interests of the producers and consumers of this vital economic input. It also protected the industry from the vagaries of the international market. The change came in the last decade of the 20th century with the liberalization of the Indian iron and steel industry. The environment of globalization and competitive market orientation combined well the formidable legacy of a rich experience in the art and craft of steel making acquired over four decades of controlled growth. The industry responded magnificently to the opportunities provided by the new policy regime. The private sector led the resurgence from the front. The decade following the deregulation of the Indian steel sector saw the largest additions to capacity. The new entrepreneurs also showed extreme pragmatism and foresight in the selection of technology. As a result, the Indian steel industry today can boast of some of the latest in the state-of the art technologies in use globally. The postderegulation Indian iron and steel industry adopted modern technologies and varied product categories. In these years, the industry both in the public and the private sectors saw impressive gains in efficiency of resource use and productivity. The most remarkable achievement of this decade has been a rapid integration of the Indian steel industry with the global market. The quantum jump in the marketing opportunities for the Indian producers and India has emerged as a net exporter of steel. Production for export has become an integral part of the profit-maximizing and loss-minimizing business calculations of the Indian corporate. The producers can now source their inputs, both physical and financial, from the least cost source beyond the boundaries of the national economy.

The performance of the Indian steel industry during the last decade, though spectacular, has not been altogether smooth. The euphoric developments in the first few deregulations were cut short when deceleration set in from the autumn of 1997. The external global environment worsened progressively under pressure from a series of financial meltdowns in various parts of the world while our domestic economy also stagnated. The domestic market also dwindled on the back of slow growth in construction and other forms of capital formation/ investment. Most worrying was the threat posed by narrow national interests which misused the WTO. Non-tariff barriers imposed on the Indian exporters of steel bear ample witness to this predilection. There has been some respite in the last few months with some firming up of domestic and international prices. Prices have risen as a result of improved demand conditions at home and abroad and also because of some rationalization of capacities across the globe, though on a limited scale. The industry now looks ahead with a new resolve and determination. Deregulation endows the producers with the freedom to take their own business decisions, but at the same time it devolves a great deal of responsibility. These include the responsibility to maintain quality standards to remain cost and price efficient and above all, to meet the consumers demand as best as possible. Globalization has its opportunities and dangers. Reaping the benefits of a globalize market calls for utmost vigilance from all the stake holders the producers, the consumers and the state. The industry must be able to capitalize on the opportunities and mitigate the dangers of synchronized global downturns. This must be done in association with the consumers and the state machinery. At the present juncture, one can say that the industry has successful made the transition from a controlled to market-driven economic environment the future of this industry is grounded in its past and its present. Now there are signs of revival both in the domestic and international steel market. Steel prices and demand have gone up as a result of increased spending on construction and consumer durables both at home and in south East Asia, Japan, the USA and some parts of the Euro zone. There has been some cut

back on capacity world- wide and this has helped in restoring the supply-demand balance to some extent. The Indian producers have been alert enough to detect cases of violation of their trading rights within and outside their national boundaries. The industry helped by the official machinery has moved the available international bodies to seek redressed, it is also constantly striving to better its performance in every sector. As a result the Indian steel industry has grown not only in competence but also in confidence. It looks ahead with a resolve to carry the journey which started 100 years ago towards a pinnacle of greater glory and success. Future of Steel Industry As today there is a rapid increase in the iron and steel industry is expecting to grow by 60 million tones by 2012. Present status of steel industry i.e. in 2006 is World - 110000 million tone India 38 million tone China - 375 million tone Major companies in the steel industry are going for expansion. Table 1.1: International production scenario of iron and steel industry Year 200 6 201 2 202 0 Expected million 38 60 120

CHAPTER-2 COMPANY PROFILE 2.01. History of the company Kamdhenu Ispat ltd. is setting new benchmarks in construction industry and is ready to explore the new horizons with strong commitment to contribute to the nation building. The Kamdhenu Group Derives inspiration from the legendary provider Kamdhenu of Hindu mythology. The Group has grown considerably from a simple set-up half a century ago to a well- established group of companies now, involved in diverse fields including high quality steel bars. Kamdhenu Ispat ltd. Is one of the largest manufacturers of the international quality reinforced steel bars, using automatic German technology, in India. With a decade long experience in the construction business the company is a strict adherent to NOCOMPROMISE ON QUALITY. An ISO- 9001: 2000 certified company by ABN quality Evaluation system USA, KIL manufactures reinforced steel bars (TMT & HSD) which have become synonymous for strength and durability and are used in the construction of multistoried buildings, dams, flyovers and power plants. With its strategic policy of expanding its production base through tie- ups and take over, KIL has under its aegis a total of 20 manufacturing units with the main production unit situated at Bhiwadi ( Rajasthan) and the rest 19 franchisee units spread across the nation. These franchisee units are located in Jammu & Kashmir, Himachal Pradesh, Punjab, Uttaranchal, Uttar Pradesh, Meghalaya, Assam, Jharkhand, Bihar, West Bengal, Orissa, Andhra Pradesh, Karnataka, Tamil Nadu, Goa, Maharashtra and Gujarat. The products thus produced are being marketed by a well- coordinated pool of distributors, dealers and stockyards apread across the nation. 9

Kamdhenu Ispat Ltd. has an efficient team of engineers, Scientists, technicians and dedicated staff in various departments who work under the valuable guidance of Mr. Satish Agarwal and Chairman and managing director, Mr. Pradeep Agarwal, Mr. Sunil Agarwal and Mr. Saurav Agarwal, whole time directors for the company. Kamdhenu Ispat Ltd. has taken the initiative to exploit the vast opportunity in the cement, stainless steel water pipes, and Plaster of the Paris (POP) markets. With more than 10 years of experience the company is setting up new benchmark in reinforcement bars markets.

2.02.Group Profile The Kamdhenu derives inspiration from the legendary Kamdhenu in Hindu mythology, who used to fulfill all aspirations of the people. The Company has grown considerably from a small industrial set-up half a century ago to one of the popular names in steel industry, involved in diverse fields including high quality steel bars. Kamdhenu Ispat Limited, a flagship company of Kamdhenu Group is the Indian reinforcement bars manufacturing company to receive the prestigious ISO-9001:2000 by ABN Quality Evaluation system, USA. Kamdhenu has emerged as the largest rebar manufacturing group with 20 modern technology plants, located at: 2 at Rajasthan, 2 at Punjab, 2 at Uttar Pradesh, 2 at Goa, 1 at Madhya Pradesh, 1 at West Bengal, 1 at Himachal Pradesh, 1 at Gujarat, 1 at J&K, 1 at Bihar, 1 at Jharkhand, 1 at New Delhi, 1 at Assam, 1 at Chennai and 1 at TamilNadu. Kamdhenu Ispat Limited consists of 20 Associate units manufacturing Kamdhenu National Brand KIL Brand T.M.T/HSD Bars in different parts of the country under licensing use agreement to fulfill the requirement in all parts of the country.

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The products conform to almost all major International Standards and find wide usage in the construction of multistoried buildings, dams, bridges, flyovers and power plants as a basic reinforcement material. 'No Compromise On quality Stand' has also helped the group to earn the confidence and loyalty of its consumers. To ensure regular availability of Kamdhenu reinforcement bars, the company has established a network of 1750 dealers and distributors in the various states of India. The Group is expanding its enterprise at a remarkable growth rate. Backed by high visionary directors, the group is setting new benchmarks and marching forward with determined steps and focused target

2.03. Vision, Mission and Quality Policy Vision- 2010 Kamdhenu aims at decentralization of the production base by strategic tie-up/ takeover of unbranded manufacturing units all over the country and convert the same into Kamdhenu Brand through technological up-gradation, implementation of Quality Management System and effective distribution through wide spread sale depot network. Efforts would also be made to establish overseas presence across the globe by the year 2010. Kamdhenu Ispat Ltd Plans include diversification of its business to the production of Cement, Stainless steel Pipes and tubes and Plaster of Paris, so as to provide diversified and quality products to the customers under the single brand name. Back home, the company is brooding over increasing public participation in its management via public, which is the backbone of the entity. Simultaneously efforts would be made to create consumer awareness for quality construction steel and adopt the policy of Best Quality Best Price.

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Quality Control Measures: Online Optical Pyrometer Computerized control of TMT production line Motorized actuator valve Continuous study of microscopic structure Tests of Kamdhenu Tempcore TMT Fe-415, Fe-500 & Fe-550 grade bars at Govt. of Indias Ministry of steels National Institute of Secondary Steel Technology, Punjab revealed that these bars are very higher strain & corrosion resistance, lesser crack width in concrete compared to CTD bars. 12% saving in axially loaded columns, 8% in universal bending of columns and 3 to 7% in doubly reinforced beam is expected, if this bar is used. Latest R & D Kamdhenu applies Micro Structure Analysis, the second Indian company to do so after Tata Steel. The process helps in determining better quality monitoring of the different layers of the TMT bars at the micro level, producing strong & flexible products. 2.04. Product Profile Kamdhenu Ispat Limited is on diversification mode. With an objective to become a complete infrastructural solution provider, the company has widened its product portfolio and thus besides producing reinforced steel bars the company has ventured in other infrastructural segments as: Kamdhenu Cement Kamdhenu SS pipes and fittings Kamdhenu POP

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1. HSD Bars High Strength Deformed Bars (HSD) have high strength and stress proof, and are produced by high speed rolling and precision cold twisting. Features of HSD Bars:

Higher fatigue strength. 100% weld ability. Satisfactory malleability. Suitable for both compression and tension reinforcement. Minimum weight and maximum strength, thus economical.

2. TMT Galvanized Bars In order to enhance the corrosion resistance of TMT bars, Kamdhenu conducted extensive R&D for the galvanization of these bars. The company has the wherewithal of the commercial production of Gal bars. Features of TMT Galvanized Bars:

Superior resistance to atmospheric & marine corrosion. Enhanced strength combined with high ductility. Good weldability and no strength loss at welded joints. High thermal resistance. Easy to work due to its better ductility and malleability. Saving in steel

3. TMT Bars Kamdhenu Tempcore TMT bars are thermo-mechanically-treated through leading world technology for high yield strength. Tempcore bar is an advanced high strengthreinforcing bar made by a unique mill heat treatment process developed by Centre de Recherch Metallurgiques (CRM) in Belgium in the early seventies to produce a combination of physical properties tailor made for the building and construction 13

Industries. Its inventors CRM, independent European authorities, have subjected Tempcore bar to comprehensive and extensive testing programmers. The important feature of TMT bars is enormous cost saving in construction resulting from drastic reduction in quality. This is possible practically in all types of RC constructions. The process involves rapid quenching of hot bars through a series of water jets after they come out of the last rolling mill stand. The bars are cooled, allowing the core and surface temperatures to equalize. The bar core cools down slowly to turn into a ferrlite-pearlite aggregate. Strength of the bars is carefully controlled by optimizing the optimum combination of high strength, ductility and toughness. This product is used widely in general purpose concrete reinforcement structures, bridges and flyovers, dams, thermal and hydel power plants, industrial structures, high rise buildings, under group platforms in metro railway and rapid transport system. Features of TMT Bars:

water pressure

for their pearlitic core and tough surface of tempered marten site, thereby providing an

Enhanced strength combined with high ductility. Thermal and earthquake resistance. Good weld ability and no loss of strength at welded joints. Higher thermal resistance. Easy working at site owing to better ductility and malleability. Saving in steel. Superior Bend ability compared to conventional HSD Bar.

4. SS Bars (Future Product) Steel reinforcement bar in RCC are subject to corrosion, specially in coastal and high humidity areas. Stainless steel bars offer a solution to corrosion in reinforcement concrete

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structures which help achieve a design life of 80 to 120 years. R&D for the manufacture of Stainless Steel bars has yielded the desired technical parameters.

Features of SS Bars :

Good high and low temperature tensile/yield strengths to match or exceed carbon steel. Inherently good corrosion resistance, especially from chlorides in marine environment. No cathodic protection needed. High thermal resistance. Easy to work with owing to better ductility and malleability.

Saving in steel

Kamdhenu Cement

4 Units at Varanasi, Himachal Pradesh and Ludhiana are manufacturing Kamdhenu Brand Cement 43 grade OPC & 53 Grade PPC. Suitable for RCC construction activities.

2.05. Area of operation Group Plants Kamdhenu Ispat Group is well-equipped with 20 modern technology Plants for manufacturing TMT/H 1. Ashiana Ispat limited, Bhiwadi (Rajasthan) 2. Bansiwala Iron & Steel Rolling Mills, Ajmer (Rajasthan) 3. Supreme Alloys (P) Ltd., Ghaziabad (U.P.) 4. Radhey Ispat (P) Ltd., Kanpur (U.P.) 15

5. Nalagarh Steel rolling Mills (P) Ltd., Nalagarh (H.P.) 6. Aar Kay Industries, Mandi Gobindgarh (Punjab) 7. Manwani Industries Ltd., Indore (M.P.) 8. Him alloys (P) limited. , New Delhi 9. Neelkanth Concast (P) Ltd., Gujarat 10. Jhelum Industries, Jammu (J & K) 11. Kundil Ispat limited, Goa 12. Kundil Rolling Mills (P) Ltd., Goa 13. Durga pur Steels Limited, Durga pur (West Bengal) 14. Dadi Ji Steels Ltd., Patna (Bihar) 15. Hanuman Alloys (P) Ltd., Bokaro City (Jharkhand) 16. ARS Metals Pvt. Ltd., Chennai 17. Fortune Metal (P) limited, Mandi Gobindgarh (Punjab) 18. Meghalaya Steel (P) Limited, Guwahati (Assam) 19. Kali Metal (P) limited, Hosur (Tamil Nadu)

20. Binju Metal & Alloys Industries (P) Limited, Hydrabad 21. Trinayani cement (Pvt.) Ltd. (Cement) 22. M/s.Pangli Cement company (Pvt.)(Cement) 23. M/s A.S Cement Industries (H.P) 24. M/s Asain Cement (H.P) 25. Kamdhenu Industries Limited (S.S Pipe & Tubes), New Delhi 26. Devendra Singh (PoP), New Delhi All The Associate plants are based on upgraded automatic German technology.

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(With a rolling time of just 18 seconds). The range of products for HSD bars includes Cold Twisted Deformed (CTD) bars, Thermo-mechanically-treated (TMT) Bars, Galvanized thermo-mechanically-treated (TMT Gal.) bars and Stainless Steel (SS) bars. All the plants are well equipped with fully automated hot rolling and precision twisting techniques. Latest TMCP/ technology based on extensive R&D by engineers and technical staff has been adopted for the manufacture of TMT bars. Highlights of Group Plants: Technology Upgraded High Speed German Technology for HSD Bars. Technology CRM, Belgium for TMT Bars. Range Of Product CTD & Tmt Bars (8mm To 32mm). Advance Labs with Spectrometer for Quality Control. List of Distributors 1750 Sales Depot & Distributors in the following states:

Haryana Rajasthan Punjab Himachal Pradesh Madhya Pradesh Maharastra West Bengal Jammu & Kashmir Gujarat

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Jharkhand Assam, Nagaland & Arunachal Pradesh, Meghalay, Tripura, Mizoram, Manipur Bihar Tamil Nadu Karnataka Goa Kerala Pondichery

2.06. Competitors Tata steel Vizag steel Steel authority of LTD Vougcal Steel Shakathi TMT Kudramukh iron ore company limited Rastriya Ispat nigam Limited Metallurgical and engineering consultants India Limited( MECON) 2.07. Achievements and Awards The prosperity and high customer satisfaction endorse Kamdhenu's market success. To give our clients long-term guarantee, it becomes our duty to ensure our customer's success in a highly competitive environment, by supplying correct material with the exact specifications, and at the right time. Kamdhenu has received numerous awards and recognitions from the Government of India and other bodies. Achievements

Largest Rebar manufacturing group. International quality

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Awards

Udyog Ratan Award Udyog Patra Award Rajat Jayanti Udyog Jyoti Award

2.08. Work Flow Model (End to End)

RAW MATERIAL

HEATING

ROLLING

FINISHED PRODUCTS

TESTING Figure 2.1: Production Process

2.09. Future growth and prospectus

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A rise in demand for long products (reinforcement steel) is clearly visible. The monsoon has been good, GDP forecasts are better, and Indias infrastructure, construction and housing sectors continue to perform very well. All these bode very well for demand of long products where we are focused. Traditionally too, demand for long products have had lesser impact in case of an economic meltdown while the demand surges far more than other steel products during good economic run and all indications are there that Indias good economic run will continue for considerable period of time. A noteworthy feature of rising demand has been than there is a distinct shift towards quality and branded products and it is where kamdhenu is best positioned to leverages.

2.10. Group Turnover Financial Year 1998-1999 1999-2000 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 (Projected) Turnover (in lacks) 3036.76 4001.39 3851.95 4633.94

5315.75 8358.13 12629.10 18600.0

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18600

3036.76 4001.39 3851.95 4633.94 5315.75

12629.1

8358.13

Figure 2.2: Group Turnover

CHAPTER-3 McKINSEYS 7s FRAME WORK

Structure

Strategy

System

Shared Value

Skills 21

Style

Staff

Figure: 3.1: McKinseys 7s The seven S framework first appeared in the Art if Japanese Management by Richard Pascale and Anthony Athos in 1981.They had been looking at how Japanese industry has been so successful, at around the same time that Tom Peters and Robert Waterman were exploring what made a company excellent. The seven S models were born at a meeting of the four authors in 1978. It went on to appear in In search of Excellence by Peters and Waterman, and was taken up as a basic tool by the global management consultancy Mckinsey 7s model To achieve systematic organizational learning and a higher level of organizational competence and effectiveness, leaders must transform the culture of how we think, meet, plan and perform our work. Culture is recreated everyday by the people of Kamdhenu Ispat Limited because of the beliefs, values, morals and concepts of culture reside in their minds. During times of transformation, understanding culture is critical. Strategic and operational leaders must consciously shape culture to the changing to the changing context about them. The 7s model is a tool for understanding and planning comprehensive culture change. It is a means by which the employees of Kamdhenu Ispat Limited plan and implement cultural development to a learning organization. The 7s model is an anthropological and systematic way to understand culture. It shows dynamically that corporate success requires the development of both the hard 5s (strategy, structure, and system) and the soft 5s (style of leadership, skills, staff and shared values) 22

Mc Kinseys 7s help leaders in at least four ways as: Mental model to understand culture Guide for change management strategy Tool for design initiatives holistically Reminder of hard and soft assets to be integrated aligned and measured.

The lines in the graphic below indicate that all parts of an organizational culture are interconnected. It is not possible to independently change one part of an organization without affecting the other parts. Therefore effective systematic management focuses on the interactions of the parts.

The seven factors are Strategy: Sets of actions that you start with and must maintain Structure: How people and tasks/ work are organized System: All the processes and information flows that link the organization together Skill: Dominate attributes or capabilities that exist in the organization Style: How managers behave Staff: How you develop managers (current and future)? Shared Values: Set of values and aspirations that goes beyond the conventional formal statement of corporate objectives.

3.1 Strategy

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Strategy refers to the set of decisions and actions aimed at gaining sustainable Competitive advantages. Strategy includes vision statements, mission statement, objectives and goals and major action plans and policies. A strategy is the determination on the basis long-term goals and objectives and of an enterprise and the adoption of the course of action and allocation of resources necessary for carrying out the goals. Kamdhenu Strategies is to increase profitability through reallocation of capital towards opportunities offering higher returns. Every company has their own pricing system and fundamentals. Every company has their own marketing segments according to their customers. Every company has their pricing structures, policies and discounts.

Pricing Strategy Kamdhenu steel pricing is determined jointly by the raw material, purchase department sales and marketing department. The pricing Strategy can be explained with various steps, such as: First the company decides which type of bars has to be supplied in the market that can also call as definition of the project. The next step is analyzing the required raw materials for production so there is a need for finding out the changed rate on raw materials in the market. Next stage is to surveying the price of the competitors. The last stage is analyzing both the raw material price and the competitors (at least 3 to 4 companies are taken) in to consideration and the price is finalized. Price strategy is done every day as price differ from day to day. Kamdhenu steel open their price day to day, the price of TMT depends on the raw materials price in the market and the competitors price. The price of the product is been opened in the morning and the information is passed through SMS. The decision of the 24

price is been taken by the own branches as the rate differs from one state to other. Decision is taken by the operational head.

3.2 Structure Structure refers to the hierarchal flow within the organization. It tells about the authoritative power in the organization. The design of organizational structure is a critical task of the top management of an organization. It is the skeleton of the whole organizational office. Organizational structure refers to the relatively more durable organizational arrangement and relationships.

Broad of directors Chairman & Managing Director

Company secretary
Secretarial & Legal Executive

Chief Manager Finance & account

Whole- time Director

Whole- time Director

Whole- time Director

Technical Executive

General Manager

Marketing Steels, cements

Expansion of franchisee

Quality control system

Senior Manger Senior Executive

Vice president Production General Manager Asst. Manager 25 Personal General Manager Senior manager manager

General Manager

Executive

Assistant General Manager Project manager Marketing Manager Regional Manager Project Superior Senior Engineer Field staffs Engineer Associates Senior Executive Executive

Associates

Workers

Figure 3.2: Overall Organizational structure Sub structure Finance department Chief manger Finance

Manager Financial Analysis & Reporting

Manager Accounting

Manager Commercial

Manager Secretarial

Executives & Associates

Executives & Associates

Executives & Associates

Executives & Associates

Figure 3.3: Finance Department The various functions performed in the finance department are financial reporting and accounting, controlling the financing of the technological park of India, commercial functions, and legal compliances. Human Resources Department 26

Head HR

HR Operating Manager

Staffing Manager

Learning and Development Manager

Executive

Executive

Executive

Associates

Associates Figure 3.4: Human Resources Department

Associates

The various function performed by the human resources department are recruitment, selection, placement, training & development, performance appraisal, employee welfare program, internal mobility and salary administration.

Plant and Technical department

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Plant Head

Director plant

Technical Director General Manger

Vice President

General Manager

Program Manger

Foremen

Project lead

Supervisors

Engineer

Fetors

Figure 3.5: Plant and Technical Department

Marketing department

Chief marketing manager

Marketing Director 28

Vice President General Manager

Assistant General Manager

Operational head

Area sales manager

Figure 3.6: Marketing Department 3.3 System A system is a defined processes, or set of processes, that links and orders activities to enable work to be done and goals to be achieved. System refers to all the rules and regulation, purchase and producers both formal and informal those represent the organization. A system is an organized or complex whole, an assembler or combination of things or parts forming a complex unitary whole. A system means all the procedures, formal and informal that make the organization go day-by-day, year-by-year. The organization is an open system as it interacts with the environment. Purchase system: - Required thousands of raw material which cannot manufactured by merit so it gives orders to the trusted vendors.

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Accounting system: - The financial systems of the company are prepared on historical cost conversion and in accordance with generally accepted accounting principles. Revenue of the company is recognized and expenses are accounted on their annual with necessary provision for all known liabilities and losses. Planning system: - The chief executive officer takes the leading role in organizational planning. This organization planning includes marketing planning, advertising planning, sales planning and other.

System followed by the Marketing department for booking

Open market

Dealer Network

Distributor

Marketing Department Booking Department

Dispatch Department

Figure3.7: Order executive system In kamdhenu the order execution take place according to the above diagram in detail to explain first step is in the open market i.e. the customer enquiry the rates as the rate of the product differ day to day according to the market situation. The rates are enquired through the dealers and they are also informed about the quantity required their customers. The information is past to the distributors so that they can enquire from the marketing department about the requirements. Later the information is pasted to the

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booking department if the requirement is available the order is been accepted and the product is sent to the dispatch department after it is dispatched the order is completed. 3.4 Skill Skills refer to the fact that employees have the skills needed to carry out the company's strategy. Training and Development - ensuring people know how to do their jobs and stay up to date with the latest techniques. Company has employees with variety of skills. The finance department needs accounting standard skills, cost control skills, etc. Sales department needs personnel with technical skills, marketing department needs sales skills. Accuracy needs planning and program of borrowing, lending etc. Required and available at various levels Conceptual skills:- Chairman, Directors- Entrepreneur should with adequate organizational and technical skills and experience. For the president and vice-president optimum experience and knowledge of particular field, managerial skill, interpersonal skills professional, maximization qualification ie Graduate or post- graduation. Managerial skills:- Minimization graduation or post graduation on the relevant areas, managerial skills, business concept, professional. Technical skills:- Minimum BE, or PG with particular field knowledge regarding technical.

3.5 Style The style here refers to the style of leadership. The behavioral pattern which a leader adopts to direct the behavior of members in an enterprise for achieving the organization goals is known as the style of leadership. Different leadership styles may be adopted by the leaders at different times and in different circumstances. Style may be also stated as

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the employees shared and common way of thinking and behaving, unwritten norms of behavior and thought such as Leadership Style and Organizational Culture. Kamdhenu adopts both top down i.e. authoritarian and bottom up i.e. a participative leadership style, its leadership style is closely associated with team building, interpersonal interaction and human skills. In top down style of leadership the one who takes the decision consult their top management and check the government polices. In bottom up style of leadership the one who takes the decision consults with the subordinates before taking the decision. The decision maker encourages initiative from its subordinates. He also seeks their advice and opinions on matters which affect them and their job. The leadership is mostly centralized decision making process and also authority. Participative is more than authoritarian leaders have a high concern for people and work.

Authoritarian /participation
See from the higher authority from director to the senior manager next to the middle manager next to the junior manager authorization is given to deliver the job; in the particular job is been entrusted to the concerned person or manager, in cycle it has to be done by the concerned person to complete or deliver & report to his or their immediate charges.

Decision making parameter pertaining to the day to day operation training In order to make a decision on the price given to the employee, the guidelines and the method of training is decided by the heads of that particular department or that particular department and branch, the guideline and the method is not decided by the top management. The head of the training department will be in a better position to decide

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the guideline of training that the top level management, as he has a clear picture about the needs and wants of the job. The top management has adopted such style leadership as it helps in reducing grievances among the employees; it also seeks to evolve a self regulating and selfdisciplining mechanism. As the middle level and low level are involved in the decision making process, there is a possibility of better decision making. In Kamdhenu decision is finally taken by the department manger about the polices of the training that is when and whom should the training be given. Training strategy depends on on-the-job and training given is minimum of 45 days. And every 6 months a work shop is conducted.

3.6 Staff Staff means that the company has hired able people, trained them well and assigned them to the right jobs. Selection, training, reward, recognition, retention, motivation and assignment to appropriate work are all key issues In Bangalore unit the total number staff members are 250. These employees are categorized on the basis of Permanent & Contract and the level of management. They are also classified in different sector i.e. steel and cement. These employees occupy the various positions created through the process of organization. Each position of the organization makes specific contribution to achieve organizational objectives. Marketing department Finance department H.R department

For over all units there are 100 for steel and 50 for cement 50 for steel and 30 for cement 75 for steel and 50 for cement 33

Technical department

Franchisee units 80 and mother unit 12 On the basis of level of management, they have been categorized on the basis of top, middle and low level management. The top level consists of about 10% of the total people employed, who are the top level management. The middle level consists of 30% of the total people employed, who are the managers or the heads of specific departments. And the low level consists of the supervisors of a specific group or project. The staff here lay emphasis on both processes and means. There is high concern for individual efficiency and also the overall effectiveness of the staff.

3.7 Shared Value A shard value is an essential characteristics or attribute promoted by the organization to motivate the behavior of members of the organization. In simple words, shared values are what engender trust vales are identify by explicitly states as both corporate objectives and individual value. Shared value refers to the beliefs, mindsets and assumptions that shape how an organization behaves. Shared value means that the employees share the same guiding values. Values are things that you would strive for even if they were demonstrably not profitable. Values act as an organization's conscience, providing guidance in times of crisis. It refers to a set of value and aspirations that goes beyond the conventional formal statement of corporate objectives. The employees of Merit or at each level of organizational stricture are conscious about delivering customers value for his money. According to the observation and literature reviews and interview conducted, the researchers have observed certain strong key values:

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 One of the most visible key values being shared by all the employees is commitment to quality. Teamwork is another positive symptom visible throughout the company. The employees are highly motivated to reach the companys vision and mission. The company is very much loyal towards its customer and employees. It is very much visible by the companys efforts to provide the best values to customers and employees by providing the products to the customers at the lowest possible price without sacrificing the quality and providing good salaries and allowances to its employees. Employees enjoy freedom in their dealing with supervisors and also there is tremendous amount of co-operation between different levels of employees.

Conclusion The 7s model is a useful tool analyzing the structure and effectiveness of an organization. This is a useful framework to analyze the strengths and weakness of a competitor or to understand and design a comprehensive program of organizational change within a firm. Prior to the creation of this model, managers typically analyzed firms using only two variables: structure and strategy. This was found in adequate for explaining why organizations are slow to adapt or change. The reason firms are slow to adapt or change often lies with the other variables: the absence of super-ordinate goals which bind fame together and failure to recognize importance of staff or investing suitable training or to have a style that encourages open feedback, suggestions, or opinions from all employees. CHAPTER-4 SWOT ANALYSIS Internal Assessment of the Organization 35

Strengths

Weaknesses

SWOT Analysis Opportunities Threats

External Assessment of the Organization STRENGTHS & WEAKNESSES - These are internal factor to business. OPPORTUNITIES & THREATS - These are external factors to the business, but within the same market (looking at the market in relation to competitors). The logic behind the SWOT analysis is that by first looking at your business, you already have a set of strengths which you need to maintain, but by identifying weaknesses you can address them and move them into strengths. The same applies to opportunities, in the sense that by identifying threats you can work to reduce them as far as possible. In Kamdhenu we can see that the strengths are very high when compared to their weaknesses. The weaknesses are very few and the company is trying hard to overcome there weaknesses. The company also has a large number of opportunities which need to be capitalized effectively and efficiently. On the other hand it also has a number of threats from the external assessment of the organization.

SWOT analysis on Kamdhenu Ispat Limited

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Kamdhenu deals with TMT saria. Strengths of Kamdhenu Ispat limited are T.M.T Saria is a special type of saria manufactured using latest technologies. This high quality saria is manufactured using most advance technology of 21st century called Thermo Mechanical Treatment. It can be used for all type of construction works ranging like buildings to dams. It is economical because of its 20% more strength. It is earth quake resistant because of its high tensile strength and flexibility. It is less affected by rust. It has more strength to sustain fire. It has 4% less weight per meter than normal that makes it economical It does not peel off the skin while working with it. Goodwill of the company based on the quality as per ISI, policies, networking, consistency supply. Consumer- Kamdhenu has wide ranging market wise dedicated consumer on Kamdhenu brand who are selling, marketing, branding, promoting. Kamdhenu brand and awareness consistently to achieve. It is a promising brand.

Weaknesses of Kamdhenu Ispat limited are Consistency of raw material supply- no proper supply of the raw materials which led to stoppage in the production Rate fluctuation in the market price Competitors is the major weakness because any company has to meet the selling of the competitors

Opportunity available for Kamdhenu Ispat limited

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 In product manufactures of reinforcement bar for construction there is a wide demand of this product, having a short supply of market and also scope of develop new market to reach the Kamdhenu brand quality steel to the consumer as there is a good demand of good quality steel. With the wide ranging consumer holding in the market in steel trading company has formed are diversified market opportunity for other quality like Plaster of Paris ( POP), cement, stainless steel, sanitary fitting and so many other products in the fold.

Threats faced by Kamdhenu Ispat limited Duplicate TMT saria are very much available in the market from local manufacture who apply water on cheep saria during production to make them look like TMT saria which affect the brand. Fluctuation in prices of raw materials. Rate Fluctuation in the major construction product like cement, bricks affect the market of the TMT. No standard product.

CHAPTER-5 38

SUMMARY OF LATEST ANNUAL REPORT Table.5.1: Profit & Loss Account for the Year Ended 31st March, 2006 (Amount in Rs.) 2005-2006 1376478640 168452802 1,167,213,581 10,436,744 1,252,839 (437,732) 1,178,465,432 1,208,025,838 39,484,291 3,214,327 (6,613,561) 1,244,110,895

2004-2005 INCOME Gross Sales Less: - Excise Duty Net Sales Income from Royalty Other Income Decrease in Stocks Total EXPENDITURE 1262910373 95696792

Cost of Raw Materials Cost of goods traded Manufacturing Expenses Personnel Cost Administrative & Other Exp Selling & Distribution Exp Financial Expenses Depreciation Miscellane Exp Written off Total

668,084,810 280,253,288 155,782,206 5,593,427 10,560909 18,752,988 5,932,252 6,995,423 111,307 1,152,156,616

813,315,830 155,109,295 152,079,484 5,899,435 15,391,656 47,038,078 6,866,943 7,319,487 944,002 1,203,964,210

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Profit Before Tax 26,308,816 Less: Tax Expense (a) Current Tax (b) Deferred Tax (c) Fringe Benefit Tax Profit After Tax (-)Provisions of earlier year Profit For The Year Add: Profit b/f from last yr Less: Bonus Share Issued Profit Carried to Reserves & Surplus Basic Earning per share 3.25 8,753,884 436,500 ---9,190,384 17,118,432 (193,635) 17,312,067 24,221,547 15,200,000 26,333,614 14,352,323 (218,953) 311,485 14,444,855 25,701,830 110,061 25,591,769 26,333,614 --51,925,383 4.38 40,146,685

Table 5.2: BALANCE SHEET AS AT 31st MARCH,2006

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2004-2005 I Sources of Funds: A. Shareholders Funds: a) Share capital b) Reserve & Surplus B. Loan funds: a) secured loans b) unsecured loans C. Deferred Tax liability TOTAL II. Application of funds A. Fixed Assets Gross block less: deprecation Net Block Capital work in progress B. Investment C. Current assets loans& advances : a) Inventories ,770 57,562 96,779,804 28,865,604 67,914,200 1,180,750 69,094,950 10,000 38,899,788 28,060,888 66,960,676 8,119,734 176,890,674 75,476,650 26,333,614 101,810,264

(Amount in Rs.) 2005-2006

153,978,160 65,291,373 219,269,533

28,257,454 22,213,814 50,471,268 7,900,781 277641582

104,807,626 34,263,308 70,544,318 601,350 71,145,668 12,010,000

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b) Sundry Debtors c) Cash& Bank balance d) Loans & Advances less: current liabilities & pro

133,876,231 10,313,639 32,315,905 234,068,545 128,610,577 105,457,968 2,327,756 21,668,608 167,385,018 18,094,696 61,643,839 268,792,161 85,682,438 183,109,723 11,376,191

E. Miscellaneous Expenses (To the extent not written off or adjusted)

176,890,674 Total

277,641,582

Ratio Analysis Ratio analysis is an indicated quotient of two mathematical expressions and as the relationship between two or more things. Ratio analysis is one of the powerful tools of the financial analysis. One of the techniques of analysis of statement is to calculated ratios. Ratio is the numerical or arithmetical relationship between two figures. It is expressed when one figure is divided by another. Ratio analysis stands for the process of determining and presenting the relationship of items in the financial statements. The ratios provide information that can be used by the management to that action.

Nature of Ratio Analysis

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Ratio analysis is technique of analysis and interpretation of financial statements. It is the process of establishing and interpreting various ratios for helping in making certain decisions. It is only a means of better understanding of financial strengths and weakness of a firm. Table 5.3: Financial Ratios of Kamdhenu

Ratio 2004 -05 1. Current ratio 2. Quick Ratio 3. Net working capital turnover ratio 4. Debt Equity ratio 5. Proprietary ratio 6. Fixed asset to net worth ratio 7. Gross profit ratio 8. Net profit ratio 9. Profit before tax to new worth ratio 10. Profit before tax to equity ratio 11. Current liability to net worth ratio 12. Total asset turnover ratio 13. Fixed asset turnover ratio 14. Sales to net worth ratio 15. Current asset turnover ratio 3.09 2.15 8.67 1.77 0.43 0.68 1.47% 2.26% 19.5% 34.8% 0.28 6.59 times 16.9 times 8.6 times 5.78times 2005 - 06 4.1 3.6 7.7 1.08 0.55 0.32 2.13% 4.29% 25.6% 26% 0.14 4.35 times 16.9 times 7.7 times 5.83 times

Interpretation 1. Current ratio The companys current ratio for 2004-05, 2005-06 is 3.09 and 4.1 respectively. The standard norm is 1:1.33. The current ratio current ratio for 2004-05, 2005-06 is above the standard norm. Hence we conclude that the company enjoys sufficient liquidity and there is no shortage of working capital.

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2. Quick ratio It shows a firms ability to meet current liabilities with its most liquid Assets. The ideal quick ratio in 1:1 because it is wise to keep the liquid assets at least equal to the liabilities at all times. The company had a quick ratio of 2.15:1 in the year 2004-05; and has 3.6:1 in the year 2005-06. This is good indication of growing company. 3. Net working capital turnover ratio There is no standard or ideal working capital turnover ratio. The net working capital turnover ratio during the year 2004-05 and 2005-06 is 8.67 and 7.7 respectively. A high working capital turnover ratio indicates the efficiency and a low working capital ratio indicates inefficiency. The ratios reveal that efficiency of the company has decreased during the last two years. 4. Debt Equity ratio The standard ratio for the debt equity ratio is 2:1. If the debt is two times less than the equity, the logical conclusion is that the financial structure of the concern is sound and so the stake or risk of the long term creditors is relatively less. The debt equity ratio during the last two years is decreasing gradually which implies that the financial structure of the company is sound. 5. Proprietary ratio There is no standard or ideal proprietary ratio. The proprietary ratio in the year 2004-05 has been 0.43, and in the year 2005-06 it has shown a steady improvement and the proprietary ratio went up to 0.55. 6. Fixed asset to net worth ratio The fixed asset to net worth for 2004-05 and 2005-06 is 0.68 and 0.32 respectively. Generally the purchase of fixed assets should be financed by shareholders equity including reserves, surpluses and retained earnings.

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7. Gross profit ratio As the gross profit is found by deducting cost of goods sold from the net sales, higher the gross better the result. There are no standard norms for gross profit ratio. It is calculated to know the trading profit made during the year. The gross profit ratio for the year 2004-05, 2005-06 are 1.47%, 2.13% respectively. 8. Net profit ratio The net profit ratio is calculated to know the actual profit of a concern during the year. The net profit for 2004-05 and 2005-06 are 2.26% and 4.29% respectively. Usually, while calculating the net profit the investment or capital of the firm is only in relation to sales. 9. Profit before tax to new worth ratio The standard ratio is about 13%. As such, if the actual net profit to net worth ratio is 13% or more, it is an indication of good return on the shareholders fund. The profit before tax to new worth ratio for the year 2004-05 is 19.5% and 2005-06 25.6%. 10. Profit before tax to equity ratio There is no standard for net profit to equity ratio. The ratio is a measure of productivity and profitability of the enterprise form the point of view of equity shareholders. This ratio was 34.8% in 2004-05 and 26.0% in 2005-06.

11. Current liability to net worth ratio The standard or ideal proprietary ratio of current liability to net worth ratio is 33% or 1/3, more than this there is no adequate cover for long term creditors. The current liability to net worth ratio in the year 2004-05, and 2005-06 is 0.28 and 0.14 respectively. By this we can come to the conclusion that there is adequate cover for long term creditors. 12. Asset turnover ratio

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There is no standard or ideal for asset turnover ratio. The asset turnover ratio for the year 2004-05 is 6.59 times and 2005-06 is 4.35times. By this we can conclude that the asset turnover ratio is decreased when compared with 2004-05 and 2005-06. 13. Fixed asset turnover ratio The standard or ideal of fixed asset turnover ratio is 5 times. The fixed asset turnover ratio for the year 2004-05 and 2005-06 are 16.9 times and 16.9 times respectively by this we can conclude that the fixed assed turnover ratio has been constant for past two years. 14. Sales to net worth ratio There is no standard or ideal for the sales to net worth ratio. The sales to net worth ratio in the year 2004-05 and 2005-06 is 8.6 times and 7.7times respectively. By this we can conclude that the sales to net worth has decreased in the previous year. 15. Current asset turnover ratio There is no standard or ideal for current asset turnover ratio. The current asset turnover ratio for the year 2004-05 and 2005-06 are 5.78 times and 5.83 times respectively. In the year 2005-06 the current asset turnover ratio is the highest and in the year 2004-05 it is the lowest. By this we can conclude that the current asset turnover ratio is been increasing in recent years.

CHAPTER- 6 LEARNING EXPERENCE Exposure to the company Doing my InPlant Training Kamdhenu Ispat ltd was an experience of a life time. Kamdhenu Ispat ltd is one of the manufacturers of the international quality reinforced steel bars, with a decade long experience in the construction business.

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I learned a lot about the steel industry focusing on TMT bars. Working at this company was an absolutely great experience. I got the experience of the real work force, and also learnt the different strategy adopted by them. I gained many new management skills and also got a chance to learn new things on my own.

Throughout my InPlant training, I learned about the skills required, style of leadership, the strategies adopted by the company in order to face the tough competition, the order executive system and much more. It was more of a learning experience for me. Undergoing the InPlant training in Kamdhenu Ispat ltd helped me in improving skills like meeting a deadlines, time management, teamwork, and networking with fellow employees and handling the market conditions. It also helped me to understand the corporate culture and experience in a better way.

The company gives high value for time, money, facilities, material and human resources. They also largely focus on participation as member of a team, teaching new skills, service to customer & clients, exercise leadership and working with diversity. The company gives importance to responsibility, self esteem, sociability, self management, integrity and honesty.

Exposure to the various systems and their functions The various systems to which I got exposed to, were the order Executive system, training the employees, hiring strategy, policy making, shared value system etc. I learned that the company adopts different ways to get their work done. The company not only believes in improving their unit but also helps the franchisee units. They also believe it is important to inform the people about how they will use there personal data, and to give them choices about how those data will be used.

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With regard to the information, the company acquires and evaluates the information, organizes and maintains information, interprets and communicates information and uses computers to process information. Thus this states that the company makes the best and effective use of the information.

The rapid changes in steel and the diversity of applications require a broad educational background and a lifelong commitment to learning new and specialized information. The company provides a facility to the employees to work from home, where the employees can connect to the server of the company from home through a dialup or a broadband connection and through mobile phones.

The company gives the authority to the marketing manger of each state to decide on the price of TMT bars according to the market condition the company does not interfere it just wants the targeted profit.

The company provides a pleasant working environment with good infrastructural facilities which motivate the employees to work effectively. The company also provides various welfare measures to the employees in the form of canteen, gym, creche, sports facility, etc. Kamdhenu provides both on the job and off the job training to the employees.

Exposure to the corporate culture Culture is the most basic fundamental determinant of a persons wants and behavior. Right from the time of birth, a child grows up in a society learning a certain set of values, perceptions, preferences, behaviour and customs.

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Corporate culture is a broad term used to define the unique personality or character of a particular company or organization, and includes such elements as core values and beliefs, corporate ethics, leadership style, dress, code internal communication, reputation of CEO value of the organization and rules of behaviour. Corporate culture can be expressed in the company's mission statement and other communications, in the architectural style or interior dcor of offices, by what people wear to work, by how people address each other, and in the titles given to various employees.

To start with the Kamdhenu corporate culture the company adopts both top down i.e. authoritarian and bottom up i.e. a participative leadership style, its leadership style is closely associated with team building, interpersonal interaction and human skills. The employees in the company are given a great value. Kamdhenu treats the employees as its key assets. The company involves the employees in a key factor. The company follows an open door policy, involves employees in decision making and builds personal rapport with the employees.

Kamdhenu deeply cared about distributors, dealers, customers and employees. The company has not imposed any kind of dress code to the employees in order to make them feel free. They also strongly value people and processes that can create useful changes. The company gives high value for business ethics, personal ethics and professional ethics, morality and integrity. The company works for 8 hours form 11:00 am to 7:00 pm, which helps the employees to avoid themselves from getting strained. Every product that is produced by the Kamdhenu goes through a highly sophistical quality control procedure. Products must be safe, effective of high quality and should deliver to our customers on time. The company believes that quality is an intrinsic part of production and should be achieved in the following methods.

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 A good product design The best available resources Welt trained personnel Good manufacturing practices In addition to this they have a well documented quality management system in force, which ensures compliance with quality standards of ISO 9001. They believe that quality is the key to success. Kamdhenu has been at the forefront of societal contribution.

Understanding the expectations of the industry The future expectation of the Steel industry is very high as there is a slow growth in the market. Kamdhenu believes the future of the industry lies in producing the quality goods simplified and user friendly products. To see to it there is a standard maintained which does not affect the customer. The company has an expectation that their product should be the best quality with the minimum price so they have franchisee units all over the country so that transportation cost and taxes can be reduced. As Kamdhenu has understood that the market can be captured by providing good quality goods as it is the base of any construction i.e. buildings, bridge etc. so it is necessary that the product given to the customers should be ISO based. The Steel industry has great expectations for the upcoming.

Relating theory to practice In the four weeks of training I was able to relate theory to practice. I was able to understanding the business environment in a better manner. I could feel the difference between text book and corporate culture. I gained skills and experience that will be invaluable to my future career throughout my entire life. This InPlant training has been 50

an incredibly positive experience that was far more valuable to me than I had expected. I explored the relationships between theory and practice, including reviews which examine emergent practices and interpret them in the light of current status of the company. I was able to relate theory to practice to a large extent, from the point of view of the structure of the organization, the various forms of skills adopted for training the employees, the leadership style, the pricing strategy adopted, day to day decision, the system of order execution by the company, work flow, the skills, the shared value, the duties and responsibilities of staff and much more. Theory to Practice was related where the skills of the company were classified on the basis of Technical and Functional, where different safety measures and welfare measures were adopted by the company. Overall I had a great experience while undergoing inplant training in Kamdhenu. The experiences have gained will stay with me for a lifetime. I think it was very important for me to be exposed to the workplace. I have gained invaluable international perspectives that will surely be of great advantage to me in the future.

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