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Transcript of Akash Panchmatiya1
General Introduction
Company General Profile
Registered office:
Aerodrome Road, Jamnagar361006,Gujarat.
Registrars & share transfer agents:
MCS Limited,77/2A, Hazra Road, Kolkata 700 029
Tel: (033) 2454 1892 - 93
Fax: (033) 2454 1961, 2474 7624
E-mail: [email protected]
Company secretary & Compliance officer:
Mr. G K Sureka
Equity Shares:
To be traded compulsorily in dematerialized form ISIN No.INE471A01023
Listed on: Bombay Stock Exchange Ltd.
Stock Code: 503796
Listed on: National Stock Exchange of India Ltd.
Symbol: "DIGJAM"
Series: EQ
Annual General Meetings:
Held at Registered Office
Last three AGMs held on
- August 25, 2011
- January 18, 2011
- September 16, 2009
Size of unit and forms of org.
The DIGJAM is large-scale industries.
This company is a large-scale unit because according to
definitions of large-scale industry company has
investment in fixed assets is more than 5 corers.
The following characteristic of large-scale industry are
also found in DIGJAM automation.
Expert management
Enterprising management
Wide distribution of risk
Service of high skill technicians
Compulsory incorporation
An artificial person
Perpetual life
Limited liability
LOCATION OF THE UNIT
Location of the Plants
Birla VXL Limited has a composite textile mills for the manufacture of
woollen/ worsted fabrics at Jamnagar, Gujarat (DIGJAM unit). The
Company also has a ready-to-wear garment manufacturing unit at Faridabad,
Haryana (Universal Clothing unit).
Company Profile
DIGJAM Limited, an S K Birla Group Company, began its activites nearly 60
years back in Jamnagar, Gujarat. Since then, it has been catering to the ever-
growing demands of the Clothing and Fashion industry, in the domestic as well
as the international markets.
Birla VXL (BVL), controlled by the S K Birla group, was incorporated in
Mar.'48. It has diversified into textiles, solvent extraction, electricity meters,
protection relays, defence stores and heavy chemicals. All its plants are in
Gujarat and Punjab. The Japanese giant, Mitsubishi Electric Corp., holds a 2%
stake. In 1992, BVL drew up major plans for expansion and diversification.
Siddharth Sugar Products was formed to manufacture soya products in
collaboration with Central Soya, US, which has a 40% stake in the new venture.
VXL holds 60% of the total capital of Rs 45 mln ($ 1.4 mln). It signed an
agreement with the well-known Swiss company, Landis, and Gyr Energy
Management Corporation and formed VXL Landis & Gyr, to manufacture
superior ranges of electricity meters and test benches. The know-how for
electronic test instruments is being supplied by Siemens. Universal Electrics,
Universal Engineering and Sidhart Oils earlier units of Birla VXL were
subsequently transferred to the company's subsidiaries viz VXL Engineers
(earlier known as Unitron), VXL Landis & Gyr and Sidharth Soya Products
respectively. VXL Landis & Gyr Ltd, ceased to be a subsidiary with the sale of
BVXL's 34% holding to the Swiss company. OCM India, Trinity Textiles, VXL
Investments, Birla Salt & Chemicals are other subsidiaries of BVXL. Oriental
Carpet Manufacturers (OCM), Saurashtra Cement and Shree Digvijay Woollen
Mills (Digjam) are the other companies merged under the VXL banner. During
1996-97, the company expanded the spindle capacity at Digjam and OCM units
by 12232 spindles each. BVXL has also entered into a license agreement with
Haggar Clothing Co.,USA entitling it to market the readymade trousers in India
under the Haggar technology and brand. Both the textile units have received
ISO certification. It is currently installing a thermal power station at the
Saurashtra Chemicals unit which is expected to be commissioned in the second
half of 1998. The management has declared a lockout at this plant from 24th
May 1997 following labour disputes. The company has entered into a strategic
alliance with Dormeuil of France to form Dormeuil-Birla VXL, with 49%
holding, which will provide guidance on new designs and fabric quality and
also help in marketing and export of the fabrics manufactured under the
Dormeuil licence. It also formulating a new scheme to manufacture spun silk
yarn, for export and internal consumption, in financial and technical
collaboration with Masuzawa of Japan. The project which is expected to cost
Rs.18 crs will be spun off as a subsidiary. During 1998-99, VXL Investments
has ceased to be subsidiary by the virtue of its amalgamation with Janardhan
Trading Company Ltd. Saurashtra Chemicals Ltd ceased to be a subsidiary of
the company in the year 1999-2000, after allotment of shares in accordance with
the scheme of arrangement implemented as per orders of the High Court of
Gujarat. The company has divested its entire stake of 75.32% in Sidharth Soya
Products Limited(subsidiary company) in favour of Noble Grain India Private
Limited.Consequent of this divestment,Sidharth Soya Products Limited has
ceased to be subsidiary of the company with effect from 14.10.2004.
Andersen Consulting, a leading management and corporate advisors agency,
undertook a major review of the operational parameters of our textile company.
Following a thorough review of the operating and marketing practices,
recommendations were made which now form the basis of our strategic
marketing and manufacturing thrusts spanning the coming 3-4 years. The
company has also initiated steps to strengthen its organization and induct the
youth and skills necessary to attain results from this strategic shift-cum-
consolidation exercise.
While the company lays uniform stress on all fundamental aspects such as
quality, designs and cost-friendliness for products under all its brands, DIGJAM
is undoubtedly its premium fabrics brand. DIGJAM has a high-end fabric brand
presence in the domestic market, reputed for its finish and quality. The company
manufactures over 3000 design-shade combinations each year in Light Wool,
Polyester Wool and Woolen fabrics for the DIGJAM brand alone. Constant
research on designs ensures creation of innovative future trends. In the new
millennium, DIGJAM introduced super- premium fabrics designed by European
experts (with whom we work regularly and extensively) comprising fine wool
yarn of Super 150s and Super 120s and occasionally blended with exotic fibres
like Silk or Cashmere.
Dressing in India has come of age - rising affluence levels, increased media
exposure of international fashions and a growing tendency towards self-
indulgence have all contributed to it. The all-round impact is visible with the
influx of international, and domestic products and brands in both, formal and
casual wear. Indian customer has choice today, but one where we are
determined to make and sustain our mark.
The DIGJAM brand will increasingly reflect both tradition and modernity in its
positioning, product range and marketing approach. We intend to position the
brand as the clear favorite for a wider, but demanding clientele with special
emphasis on becoming the preferred premium choice for the youthful consumer.
This segment offers a high potential in terms of market size and also presents a
tougher challenge to us in terms of providing satisfaction. DIGJAM's superior
product quality is at par with global standards and many of the world's best
readymade brands use fabrics produced by us. A major proportion of our output
is exported to USA, Europe, Middle East and Far East. This bodes well for our
future as our preeminent position as one of the largest manufacturer of textiles
from India.
Our marketing thrust will over time impact all facets of the brand's interface
with consumers, including new product introductions, consumer promotions and
the rich retail experience. It must be noted that the DIGJAM brand has been
ranked at no. 4 among the top Apparel brands of our country, in a study
conducted by the prestigious Economic Times newspaper of the Times of India
group. Apparel category comprised of all the top Fabric brands as well as the
Readymade Garment brands available in the country. This particular study at
the consumer level at a national level was conducted to find out ‘India's Most
Trusted Brands.'
DIGJAM products and their ranges are available at its exclusive showrooms and
over 4000 other retail outlets across the country.
Mission
To be an enterprise acclaimed for its products & services among peers and
customers alike, by having responsible workforce & through best available
technology.
Vision
To be the clear favorite & premium contender in our principal market.
MAIN OBJECTIVES OF THE COMPANY
The main objects of the Company are as follows:
(As set out in the Memorandum and Articles of Association of the Company)
1. To carry on the business of spinning, weaving, manufacturing and dealing in
wools, jute, flax and hemp,
cotton, silk and other fibrous substances, and the preparation, bleaching, dyeing,
printing or colouring of
any of the said substances, and for that purpose manufacture bleaching, dyeing
and other materials and
generally to act as merchants for the purchase and sale of yarn, linen cloth,
woolen and other worsted
stuff, and other fibrous products and goods, whether textile, felted, netted or
looped, and to do all other
things and processes which are incidental or connected with all or any of the
foregoing trades, businesses
or industries.
2. To carry on all or any of the business of silk mercers, silk weavers, cloth
manufacturers, hosiers, carpet
makers, makers and suppliers of clothing lingerie, and trimmings of every kind,
furriers, milliners,
glovers, lace makers and dealers, feather dressers and merchants, hatters,
importers and wholesale and
retail dealers in any of the foregoing and in textile fabrics of all kinds.
3. To wash, clean, purify, scour, bleach, wring, dry iron, colour, dye, disinfect,
renovate and prepare for use
all articles of wearing apparel, household, domestic and other linen, cotton and
woolen goods and
clothing and fabrics of all kinds.
The object clause of the Company enables the Company to undertake the
activities for which funds are being
raised in the present issue.
Awards & Recognitions
Confidence in textiles 2010
ISO 9001:2000 2007
Lycra Assured 2005
Export House Certificate 2004
Export Performance Trophies
Energy Conservation
Ahead from the time
1. Using the best technology and machines available, Digjam has achieved
the ISO 9001 international quality Certification.
2. Impressive capability: The present production capacity is over 5 million
meters per annum of woolens is one of the highest in the industry.
3. Exporting nearly 35% if its total production. Digjam textiles are now in
use in the U.S.., Canada, U. K., Europe, Middle East Far East, Japan &
Australia.
4. For four consecutive years, Digjam Limited has received the highest
Exporter Award, in the woolen worsted category, from the export
Promotion Council, a Govt. of India Undertaking.
5. Digjam is a Unit of the trusted Birla Group of Industries with a world-
wide presence and strong reputation.
6. The first and only worsted mill in India to be awarded the status of
"ACCREDITED MILL" from the internationally renowned DuPont.
7. Woolmark & Wool blend mark license from International Wool
Secretariat.
Digjam has been awarded the status of "ACCREDITED MILL" from the
internationally renowned DuPont and is now a part of the elite LYCRA®
ASSURED Network, which is the world's leading supply chain for innovative,
quality stretch fabrics.
In this difficult business environment, alliances are becoming more important
than ever and the ability to differentiate one's company is even more crucial.
These two business needs are the drivers behind our decision to be part of the
exclusive LYCRA® ASSURED Network.
The goal is to create value in the LYCRA® ASSURED Network as a whole,
thus making it the automatic first stop for the world's leading buyers looking for
premium stretch solutions and the latest fiber and fabric innovations and new
concepts. The expanded support and services planned by DuPont as part of the
value delivered by membership in the Network are mentioned below:
Early access to new DuPont technologies and exciting innovations not only for
Lycra®, but also for other important products like Teflon®, Tactel®,
Coolmax®, Cordura®, Supplex®, Thermolite®, and technical support.
New revenue growth opportunities.
Significant cost and competitive advantages.
Constant promotion of LYCRA® ASSURED Network benefits and the
products of its partners to key buyers.
Keeps us at the forefront of stretch innovations.
New global sourcing options - from fiber through garment.
ATS fabric library.
Exclusive or priority access to market research.
Participation in exclusive retail and consumer promotions.
PRODUCTION
DEPARTMENT
Introduction
Production department is the most important section of
any firm without production we can’t able to run business
smoothly.
Production department gives nice result if it organized
well Jyoti CNC automation has well organically production
department.
Now we going to see the top-to-toe of production
department remember organized production gives desirable
result.
FLOW CHART OF PRODUCTION MANAGEMENT
Organization of production
department
Production manager
Purchase
Officer
Maintenance
officer
Assistance
Foreman
Workers
Infrastructure Facilities
1. Raw materials
The major raw materials manufacture of fabric at DIGJAM unit at Jamnagar
are as follows:
a. Greasy Wool: The major suppliers of Greasy Wool are in Australia and
New Zealand. Greasy Wool can be easily imported under Open General
License (OGL) and there are no restrictions on its imports.
The desired micron and quality are easily available as per specified
parameters.
b. Polyester: Polyester fibre is easily available in India and is being
purchased locally. Sometimes small quantities are imported from Germany.
c. P/V Yarn: Polyester/Viscose yarn is also easily available in India and
there are many suppliers for the same.
The major raw material required for making readymade garments at
Universal clothing unit at Faridabad is fabric, which is sourced from the
Digjam unit. Accessories and Trims at Faridabad unit are procured
domestically or from overseas market as per the buyer’s specifications. 31
2. Utilities
Water: The average monthly consumption of water at Jamnagar unit is
approx. 47,000 Kilo Ltr. and approx.1200 Kilo Ltr. at Faridabad unit. The
Company has adequate water supply for both the plants from
respective Municipal Corporations and from own and outside boring wells.
Power: The Jamnagar unit of the Company has connected load of 3,500 KA
from Gujarat Electricity Board as against its existing peak requirement of
3,300 KVA. The unit also has standby Generator Sets of 4500 KVA. The
Faridabad unit of the Company has connected load of 500 KVA from
Dakshin Haryana Vidyut Vitran Nigam Board as against its existing peak
requirement of 500 KVA.
During the three months period ended on 31/03/2006 the Company
purchased 4,396 thousand units and generated 132 thousand units through
diesel generators for its operations. Consumption of power for production of
fabrics and blankets etc. was 3.57 KWH per unit (per mtr.).
Manufacturing
"We are what we repeatedly do. Excellence therefore, is not an act but a habit"
- Aristotle
The Plant:
Digjam, a completely vertically integrated plant located in Jamnagar, has ultra-
modern production facilities to convert tops to finished fabrics through the
processes of scouring and combing, dyeing, spinning, weaving and finishing.
The Machinery:
The machinery employed in these processes is state-of-the-art, imported from
France, Germany, Switzerland, Belgium and South Korea.
Quality control:
Stringent quality checks at each stage of Production ensure that only the finest
fabric gets to wear the DIGJAM label. This has earned an ISO:9001
Certification for the plant.
Capacity:
The present production capacity is over 6 milliom meters per annum. The plant,
spread over 47 acres, employs 300 executives and a dedicated force of 1050
workers.
Better solutions:
Recently, an internal study was undertaken to improve operational efficiency
across departments. The recommendations are being implemented through a
project called 'Lakshya 2000'. In order to achieve better inventory control,
reduce lead-time and create a more responsive production planning and
control, DIGJAM has procured an ERP Solution, which is in the final stages
of implementation.
Scouring and Combing:
This fully air-conditioned department is equipped with latest CA-6 cards. To
ensure better quality control on the raw material, Digjam has introduced the
latest fully-automatic tow-to-top converter lines to prepare polyester tops.
Dyeing Section:
This is another high-tech area in Digiam, where fully automatic
microprocessor-controlled HP HT Dyeing machines are in operation. Also in
use are radio frequency dryer, Vigoureux printing and Jet dyeing machines.
The dyeing plant has a computerized IBM-based system for color matching.
Spinning Process:
Worsted spinning is carried out in a fully air-conditioned plant, equipped
with preparatory, spinning, air splicing and electronic cleaning machines.
Weaving Machines:
A well-laid out weaving shed houses 116 Sulzer-Ruti microprocessor
controlled projectile weaving machines. The Sulzers are the world's highest
rated weaving equipment, capable of producing the highest
quality of fabrics.
Finishing:
The finest Italian, Swiss and Japanese machines finish the fabric to
perfection. These machines use a process sequence that is automatically
controlled by a punch card system. In this way, perfect uniformity is
ensured, thus avoiding lot variations.
The process of manufacturing woolen/worsted fabrics involves following
steps:
1. Grey Combing: The wool received as per specifications in different
microns is opened, scoured, dried, carded and combed.
Scouring: Removes dirt, sweat, natural grease etc.
Carding: Individualisation of fibres is achieved and it also separates
vegetable matter. It converts loose fibres into a continuous sliver for
subsequent process.
Gilling & Combing: Parallelisation of fibres. Removal of vegetable
matters and short fibres is achieved.
2. Tow to top converter: Polyester is received in a tow form and is cut in
the required length to match with wool
fibre for homogeneous blending. 30
3. Dyeing: Wool tops and polyester tops are dyed separately in required
colours. There is a separate section for
fabric dyeing for qualities that are dyed after weaving.
4. Recombing & Spinning: During dyeing process, certain degree of
disturbances take place in the fibre. Hence
parallelisation is required. In recombing we achieve this as well as remove
short fibres to achieve better
quality of yarn and improve spinning performance. Gradual reduction in
weight from top to required yarn
count is achieved through the processes of gilling, rowing and ring frame
jointly described as spinning.
Depending on the count and blend, the twist is also imparted to give
adequate strength to the yarn. This is
followed by autoconing to remove spinning faults, if any, and the final yarn
is assembled and twisted to make
it suitable for weaving.
5. Warp preparation: We use sectional warpers and depending on the
pattern required in the fabric, the creel is
arranged. The warp beams are produced followed by drawing, reaching and
denting to prepare the beam for
weaving.
6. Weaving: The weaving takes place on the loom with interlacement of
warp and weft. Number of ends and
picks are dependent on the count and weave required.
7. Mending: It is the manual operation carried out by trained workmen to
rectify spinning and weaving faults
that may be present in the fabric.
8. Finishing: It is divided into two areas, viz., wet processing and dry
processing. In wet processing, the fabric
is washed with detergent to remove stains or chemicals that are applied
during earlier operations. It also
eliminates stresses on the yarn during spinning and weaving. In dry
processing, the fabric is set for
dimensional stability, sheared to give clear fabric which is then pressed and
becomes ready for tailoring.
9. Inspection & folding: 100% of the fabric is inspected and graded
(fresh/defective). The inspected fabric is cut
into lengths as per market requirements and delivered to Warehouse.
10. Quality control: At each stage of production, control checks are
incorporated to ensure the required quality.
This is an online process. Certain tests like shrinkages, pilling, washing
fastnesses, etc., are carried out in the
Central Lab.
11. Designing: A team of qualified and experienced designers on a
continuous basis, develop fabric in required
texture, weave, colours and designs to cater to both domestic and export
requirements.
12. Production planning: It is the nerve centre, coordinating activities from
the time of procurement of orders to
delivery upto Warehouse. It also ensures timely delivery of all fabrics in the
stipulated time frame and in
assortments.
Design & Development:
Design Development & Quality Assurance:
Monitoring of Design trends / seasonal needs and constant development
work enables Digjam to respond rapidly to market demand and buyer needs.
Higher Standards of inspection at all stages, using the latest test equipment,
ensures the near perfect quality and 'integrity' of Digjam woolen textiles
Multi-terminal computers reinforce production control applicants.
The Finest Range of Fabrics:
Digjam manufacturing an impressive variety of suiting’s ranging from 100%
pure wool to wool blended with polyester & other micro fibers. The
'Panorama' range of wool form Australia and sophisticated techniques
Digjam produces glorious blends of silk, mohair, camel hair, angora and
cashmere. Fabric ranges from light weight woolens in super 120's to blends
in the 60's. The numerous shades, weaves and texture in this range of
Digjam woolens offer the best choice to buyers.
Stages of Verifications in realization of the Product
Stages & Products Parameter Tested/ inspected
A. Greasy wool Micron
Length Parameter
Strength
B. Polyester
a. Tow Dinier
Strength
b. Grey Top Length Parameter
Neps Counter
Antistat%
Fused Fibre
C. Dyes Strength & Tone of 1% Shade
D. Grey Wool Micron
Length Parameter
Neps Count
CV%
Oil
Moisture Content %
E. Top Dyeing/Top Printong Shade Matching
Fastness (wash, light, dry cleaning, K/D, heat, setting,
perspiration, water)
F. Yarn Dyeing Shade Matching
Fastness (wash, light, dry cleaning, perspiration, water)
G. Recombed Top Shade Matching
Length Parameter
Neps Count
Blend Composition (For Blended wool top only)
Oil %
Moisture Content %
H. Spun Yarn (Single) Uster U%
CVM
Thick Places
Neps
Count & Count CV%
Classimate
I. Single / Two Fold Yarn Package Inspection
J. Grey Loom sate fabric Fabric
Weight / mt
K. Fabric Dyeing Shade Matching
Fastness (wash, light, dry cleaning, perspiration, water)
L. Fabric Piling
Shrinkage (Relaxation)
Steam Stability
Dry Clean stability
100% Inspection (for shade matching & Design
checking, grading & to check width Skew and bow)
Ends / 10cm
Picks / 10cm
Crease recovery angle
Wt/mtr (in gms.)
Fabric Drape (%)
Color fastness (wash, light, dry cleaning, Water,
perspiration)
PERSONAL DEPARTMENT
Introduction
Personnel management is the part of the
management function part of the management function
is primarily concerned with the human relationship
with in an Organisation.
Personnel management is concerned with the
managerial functions (planning, Organisation,
directing controlling, co-ordination) and operative
function (production, development, compensation,
integration, maintenance) with a view to attaching,
organisation goals economically and effectively and
meeting the individual and social goals.
So, personnel management is a process of
producing the required member and person at the right
time on right place for right job and utilizing their
ability to achieved goals.
We can say that personnel management is that
part of management which covers all the important
aspects like manpower planning, selection process,
method of training and development performance
appraisal, promotion, transfer, salary and industrial
relation.
HRM
BOARD OF DIRECTORS
DESIGNATION NAME
Chairman Emeritus Sri S. K. Birla
Chairman Sri Sidharth Birla
Director Sri R. K. Choudhury
Director Dr. G. Goswami
Director Sri G. Momen
Director Sri A. C. Mukherji
Director Smt. Meenakshi Bangur
Managing Director Sri C. L. Rathi
Company Secretary &
Executive Vice President (Legal)
Sri G. K. Sureka
President Sri R. K. Kedia
Vice President (Exports) Sri P. K. Das
Vice President (Operations) Sri Virender Gupta
Vice President (Sales & Marketing) Sri Ravinder Sharma
BRIEF BIOGRAPHY OF THE DIRECTORS
S.K. Birla - Chairman
Shri S. K. Birla, the Chairman of the Board of Directors, aged 72 years, is an
entrepreneur and Director of various
companies. He has wide experience of over 53 years in the fields of Finance,
Marketing, General Management,
Board level Corporate Governance, Strategic Issues, Corporate and Finance
Structuring, Resource Mobilization,
Planning and Budgeting. He was President of various leading Chambers of
Commerce like The Federation of
Indian Chambers of Commerce, New Delhi, Indian National Committee of
International Chamber of Commerce,
New Delhi and Indian Chamber of Commerce, Kolkata, Chamber of
Commerce of G-77 countries of United
Nations, New York. He was previously a member of various Government of
India bodies including Prime
Minister’s National Integration Council, Delhi and official delegation to
UNCTAD’72 and CAFEA’66. He is also
associated with several education and philanthropic institutions.
Work Culture
Digjam Limited offers a great working environment, charged with the spirit of
competitiveness. The compensation package that Digjam Limited offers rivals
the best in the industry.
Keep checking this section because it is constantly updated, giving you
information about the latest requirements at Digjam Limited.
As and when there is a requirement that best suits you, we will get in touch with
you.
ENVIRONMENT & SAFETY
Company is conscious of the need for environmentally clean and safe operations.
Both the existing plants of the Company have obtained “No Objection” certificates
from concerned Pollution Control Authorities. However consent for pollution
control in Faridabad unit has expired on 31/03/2006. The Company had applied
for renewal of the consent and same is awaited.
Company is conscious of the need for environmentally clean and safe
operations. Our policy requires all operations to be conducted in a
way so as to ensure safety of all concerned, compliance of statutory
and indust r ial requi rements for envi ronment protect ion and
conservation of natural resources.
HUMAN RESOURCES
Management recognizes that employees represent our greatest
assets and it is only through motivated, creative and committed
employees that we can achieve our aims. Hence, the Company
attempts to take care of welfare and betterment of employees.
Digjam Achievers Unlimited (DIACHS) Club.
A unique and one of kind exclusive club created for the first time in the
industry. Based on certain parameters and criteria, top Wholesalers,
Retailers and Digjam Retail Showrooms were selected for the DIACHS
Club.
Objective is to work together for mutual benefit and increase our business.
To reward the good and consistent performers and to enter into a committed,
long-term relationship with the Dealers. Membership valid for 1 year. The
members have the following benefits:
Special incentive on turnover on achievement of a minimum turnover
target (based on certain parameters).
Special Qualities / Design Selection: Special qualities to be developed for
‘Achievers Unlimited’ members. Participation and involvement of club
members for range development.
Special samples of selected / fast moving qualities to be provided to club
members.
Achievers Unlimited Members Meet - To participate in ‘DIACHS Meet’
organised once in a year. In such functions, the top performing members
to be awarded and honored by top management.
Special Service: To give priority to them in order procurement and
execution. Suitlengths to be despatched to club members through courier
on paid basis.
Special Certificate recognizing members as part of the Digjam Achievers
Unlimited family.
The formation of this unique club was made know to the achievers at
Dealer’s Meet organized at ‘The Intercontinental, Goa’ in September, 2004.
Manpower
The present manpower strength of the Company is as follows:
Sr.No. Category No.of employees/staff/workers
1 Management personnel 6
2 (a) Senior Managers 15
(b) Managers 51
3 Covered Staff/Workmen 1119
4 Badli worker 269
5 Contractual workers 129
Total 1589
MARKETING
DEPARTMENT
Introduction
Various experts in different ways have designed the
term marketing. But the presentation of them is almost same
all of them agree with the dame thing that it is the
communication of 4 Ps.
1 s t product.
2nd price.
3 rd place.
4 t h promotion.
“Marketing department is the blending of four inputs
which from the core of whole marketing system”.
“Market is the set of marketing tools that the firm use
to pursue its marketing objectives in the target ”.
From the above definition it is clear that marketing
department is great part of firm. Now let us go through how
our company under consideration Jyoti CNC does its
marketing.
Quality Policy
Our company is committed:
1. To achieve the highest quality standards of its fabrics and services for
maximum customer satisfaction by following systematic quality
management system.
2. To continually improve the effectiveness of the quality management
system.
Quality Assurance
Hard work and exhaustive research by a team of expert textile engineers and some
of the world's most brilliant creative designers has created the Quintessential
Quality of Digjam.
Fine, Soft, Light, Textured like no other… superior product quality, at par with
global standards. Impassioned to surpass anything created earlier, Digjam Team
has honed its talents, sharpening insights, enabling excellence at every step.
And imparting that unique something that can only be experienced… top quality
fabric for that great suit.
Higher standards of inspection at all stages, using the latest test equipment, ensure
the near perfect quality and 'integrity' of Digjam fabrics, which go through a
number of stringent tests and verifications before it comes to you.
Quality Control
Stringent quality checks at each stage of Production ensure that only the
finest fabric gets to wear the DIGJAM label. This has earned an ISO:9001
Certification for the plant.
PRICING POLICIES
Price is the powerful marketing instrument. As a marketing weapon, pricing is
the big gun. Pricing a product is one of the most important and critical areas in
the marketing management. A price policy is the standing answer of the firm to
recurring problem of pricing.
This company is following penetration pricing polity i.e. the company has
adopted a low price. The company has adopted penetration pricing because of
the following reasons;
A: There is a cutthroat competition in the forging industry. So in
order to capture and hold a share of market position the company has
adopted penetration pricing.
Marketing & Selling arrangements
BVXL manufactures and markets its suitings fabrics under its well
established and famous brand - “DIGJAM”.
The Company’s DIGJAM unit at Jamnagar is one of the major producers of
quality worsted woollen fabrics in the country and its products carry the ISO
9002 and the Woolmark certifications.
The Company is backed by strong designing cell and is supported by
regional sales representatives spread throughout the country. The DIGJAM
unit has a network comprising of about 1500 direct dealers in domestic
market. Apart from this, there are about 4000 tag dealers who are serviced
by the wholesale channel. For export marketing, the Company has an office
in New York, USA and has appointed Export agents in various parts of the
world. The Company is one of the largest Indian exporter of worsted
woollen fabrics.
DIGJAM has been awarded the status of "ACCREDITED MILL" by the
internationally renowned DuPont and is
now a part of the elite LYCRA®
ASSURED Network, which is the world's leading supply chain for
innovative, quality stretch fabrics. The Company has not entered into any
collaboration agreement.
Business Strategy
Established strong presence in the fast growing Ready Made Garment
segment
Traditionally, the worsted fabric industry focused on providing fabric, which
were customized into garments by tailors. This business model is slowly
giving way to Readymade Garments (RMG) under brand names. Some of
the other trends include:
Preference of casual wear to formal wear (woollen / worsted fabrics
considered to be suitable only for suits and other formal wear);
Lightweight fabrics and fabrics that require less care like wrinkle free
fabrics, etc. are preferred; In view of these developments, the new proposals
(in addition to traditional business line) are as follows: 32
Prioritise and expand Company exclusive show rooms to sell fabric as well
as “branded RMG” (under DIGJAM) as this will boost the overall plans of
the Company in providing “one stop” shopping
experience to customers; Sell fabric and “branded RMG” direct to
department chains and malls; Sell fabric directly to RMG brands –
Domestic as well as exports; Sell garment packages to RMG brands /
department chains, malls in Buyer’s brands (Private Label) -
domestic as well as export market; In short to medium term – focus on
fabric selling and in medium to long term – focus on garment selling both
branded as well as non-branded;
Build a portfolio of non-worsted outsourced fabrics to offer a wide range to
the consumers; Building better sales infrastructure
The key steps in this regard include:
Strengthening the sales and marketing channels.
Expanding geographical reach through increasing dealerships, opening
exclusive showrooms; besides redesigning the sales terms to ensure greater
through put By aggressive & intelligent use of both electronic & print
media to increase the visibility of the ‘DIGJAM’
brand;
Improving product mix:
In past few years, the Company’s product mix was skewed towards
‘Economy’ segment, which impacted the
margins significantly. As part of its strategy, the Company proposed to
reorient its product mix to cater more to
‘Standard’ and ‘Premium’ segments thereby increasing the overall margins.
Future Outlook
In Post –Quota era, there are huge opportunities for those who will innovate,
offer product-plus, cost-efficiency
and customer service.
Suitings market in India is growing and formals are in vogue. High exposure
to international business, invasion of TV-Mobile-Internet, high infusion of
FDI, better levels of air-conditioning in offices – cars - homes are some
triggers to it's growth. The Company believes that the market will grow
much faster in coming years. The Company has a distinct image in the
market and will endeavor to strengthen it further. The Company is well
placed amongst the peer set competitors.
Competitive Strengths
Presence - DIGJAM is an old and established brand in the market and its
long lasting presence provides it with a good positioning in the market.
Exports – Consistent growth in exports over the years - almost all major
countries.
Flexibility - Has been flexible to adjust to change in market conditions in
serving the dealers. Well defined and market friendly sales policies.
Quality Product – The finish imparted to its fabric is comparable to the best
available in market.
Product Range – It is big and diverse enough to have a fair representation
for all segments. Strong in Economy and Standard range
Distribution Network – A strong distribution network comprising of Retail
Showrooms, General Retailers and Wholesalers. An all-India presence.
Quality Management System - DIGJAM unit has been accredited with ISO
9002 : 2000 Quality Management System Certification.
Principal Competitors
The woollen/worsted fabric industry in India is dominated by a few major
players viz. Raymond Ltd (Raymond),
Birla VXL Limited ( DIGJAM), OCM India Ltd. (OCM), a subsidiary of
Birla VXL, Shri Dinesh Mills Ltd
(Dinesh) and S Kumar’s (Reid & Taylor) accounting for 88% of the total
domestic market share. Apart from this, Grasim Industries Limited,
Bhilwara Suitings Limited and Reliance (Vimal) are also present in this
segment.
Insurance: Adequate Insurance Cover has been taken for all the properties
viz.
FINANCIAL
DEPARTMENT
INTRODUCTION
Financial management is that managerial activity which is concerned with the
planning and controlling of the firm’s financial resources. Through it was
branch of economics till 1980. As a separate activity or discipline it is of recent
origin. Still, it has no unique body of knowledge of its own and draws heavily
on economics for its theoretical concepts even today.
Now days, to finance business company has to maintain the financial status at
the required level and also has to show financial stability of the company, and to
get finance the company has to show cash flow, important ratios, working
capital management, etc
FINANCIAL PLANNING
Financial planning is based on the going concern keeping in mind working
capital. Financial planning is based on the product sold to customers. It should
estimate the resources required to carry out operations and determine how far
these resources can be generated internally by the firm itself and how far they
will have to be obtained externally.
Financial planning is primarily a statement estimating the amount of capital and
determining its composition. It includes:
Determination of the quantum of finance, i.e. the amount needed for
implementing business plans.
The determination of the form and proportionate amounts of securities.
Laying down the policies as to the administration of the financial plans.
CAPITAL PLANNING:-
Capital planning is based on year to year increasing in turn over to that
extent what machinery to be purchased that is capital planning.
WORKING CAPITAL:-
Working capital is that which is held to meet day to day requirements of
business, which changes from day to day, and which is converted into
cash continuously. The risk factor is low in it. Working capital is also
known as current capital, circulating capital and floating capital. So it is
also known as a variable cost.
PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED
ON SEPTEMBER 30 TH , 2010 AND MARCH 2008-2009
PARTICULERS 2009‘10(18Month)
(lakhRs.)
2008‘09(12Month)
( lakhRs.)
INCOMES
a. Sales 185,93.26 139,92.89
b. Other incomes 1,16.54 1,01.41
TOTAL 187,09.80 140,94.30
EXPENDITURE
Materials 86,00.44 64,95.94
Manufacturing &other expense 98,76.99 72,12.05
Interest &financial changes 11,24.76 10,98.53
TOTAL 196,02.19 148,06.52
P&Lbefore dep,exceptional items &tax (8,92.39) (7,12.22)
Dep. &Amortisation 7,65.79 5,42.35
(16,58.18) (12,54.57)
Exceptional items 60,48.61 1,18.90
P&L before tax (43,90.43) (11,35.67)
Provision for tax:
Less:Fringe benifite tax _ 20.57
Less:Excess provision in earlier years 21.54 _
Net P&L after tax 44,11.97 11,56.24
Balance brought forward (137,53.45) (125,97.21)
Balance carried forword to B/S (93,41.48) (137,53.45)
Earning per share(EPS) without
considering exceptional items:
Basic &Diluted EPS-Rs. (2.79) (1.88)
After considering Exceptional items
Basic &Diluted EPS-Rs. 6.01 1.71
BALANCE SHEET AS ON 30 Th SEPTEMBER, 2010
PARTICULARS Sch
No.
As at sep.
30,2010(la
kh rs.)
I.SOURCES OF FUNDS
a. Shareholders’ funds 1 90,25.79 88,75.79
b. Share Capital 2 5,00.00
LOANS
1. Secured Loan 2 53,14.60 127,84.46
2. Unsecured Loan 3 23,10.15 18,82.47
TOTA
L
171,50.54 235,42.72
II.APPLICATION OF FUNDS
1. Fixed Assets 4
a .Gross Block 248,92.60 249,77.28
b. Less:Accumulated Depriciaton 194,07.57 187,60.07
c. Net Block 54,85.04 62,17.21
d.Capital Work in Progress including
capital advances
4.47 28.55
54,89.51 62,45.76
2. Investments 5
Current Assets, Loans and Advances
a. Inventories 6 38,70.32 39,84.85
b. Sundry Debtors 7 24,88.07 31,57.20
c. Cash And Bank 8 2,12.66 60.66
d. Loans and Advances 9 13,86.56 13,92.31
Less: Current Liabilities & Provisions
a. Liabilties 10 52,52.70 50,05.38
b. Provisions 11 3,85.36 4,87.33
TOTAL CURRENT LIABILITIES 56,38.06 54,92.71
Net Current Assets 23,19.55 31,02.31
TOTAL 171,50.54 235,42.72
CONCLUSION
DIGJAM Limited, an S K Birla Group Company, began its activites nearly
60 years back in Jamnagar, Gujarat. Digjam is a composite Worsted Mills
equipped with latest state of the art plant and machinery. It is an ISO 9001
certified Company, where quality assurance and customer satisfaction is our
prime endeavor .To achieve quality standards they have a fully equipped R
& D Dept., which ensure latest testing standards. They are having an ultra
modern composite unit with a production capacity of over 5 million meters
per annum, of which nearly 35-40% (approximately) is exported to major
countries across the globe. Apart from manufacturing quality fabrics, they
produce Blankets and Lohis also.
Future Plans
The global trend in textiles is shifting to ready-to-wear (RTW). We, at Digjam
Limited plan to gear ourselves for this shift with the launch of an exclusive
range of RTW.
The RTW range will be available across India through a chain of select
showrooms, run by franchisees and dealers.
BIBLIOGRAPHY
BOOKS:-
KOTLER PHILIP, PEARSON PRENTICE HALL PUBLICATION,
MARKETING MANAGEMENT, 13TH EDITION – SECOND
IMPRESSION - 2009
SHERLERKER S. A., HIMALYA PUBLICATION, MARKETING
MANAGEMENT, REVISED 12TH EDITION - 1991
WEBSITE:-
www.digjam.co.in
www.digjamsuiting.com