Mayuresh Thermax Revised

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A PROJECT REPORT ON Study of Biomass IPP in Chhattisgarh SUBMITTED TO RAMAIAH INSTITUTE OF MANAGEMENT STUDIES,BANGALORE BY MAYURESH M GANU Roll No. P1017 IN PARTIAL FULFILLMENT OF POST GRADUATE PROGRAM IN MANAGEMENT (PGPM) – Marketing 2010-12 RAMAIAH INSITUTE OF MANAGEMENT STUDIES 1

Transcript of Mayuresh Thermax Revised

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A PROJECT REPORT

ON

Study of Biomass IPP in Chhattisgarh

SUBMITTED TO

RAMAIAH INSTITUTE OF MANAGEMENT STUDIES,BANGALORE

BY

MAYURESH M GANU

Roll No. P1017

IN PARTIAL FULFILLMENT OF

POST GRADUATE PROGRAM IN MANAGEMENT (PGPM) –

Marketing

2010-12

RAMAIAH INSITUTE OF MANAGEMENT STUDIES

BANGALORE

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Table of Contents

Chapter No. Title Page No. Declaration from student IiiCertificate from Company/Organization IvCertificate from Guide VAcknowledgement ViList of Tables ViiList of Graphs ViiiList of Charts IxList if Abbreviations, if any XExecutive Summary Xi

I Introduction Approx No. of Pages. 5 - 10

1.1 Company profile 1.2 Objectives of the study 1.3 Limitations of StudyII Research Methodology Approx No. of Pages. 07-

10 2.1 Primary data - if applicable2.2 Secondary data – if applicable2.3 Sample design – if applicable2.4 Population – if applicable2.5 Sample size – if applicable2.6 Sampling method – if applicable2.7 Method of data collection - if

applicable2.8 Instrument for data collection - if

applicableIII Theoretical Background – as applicable

to the Project.Approx No. of Pages. 10-

15 3.1 Data- analysis techniques IV Data Processing and Analysis Approx No. of Pages. 20-

25V Management Lessons Approx No. of Pages. 05-

10VI Findings Approx No. of Pages. 02-

03VII Recommendations Approx No. of Pages. 01-

02VIII Conclusions Approx No. of Pages. 01-

02

Bibliography Appendices / Annexure

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DECLARATION

I, Mr. Mayuresh M Ganu

hereby declare that this project report is the record of an authentic work carried out by me during the

period from 18th April to 6th June 2011 and has not been submitted to any other University or Institute

for the award of any degree/diploma etc.

Mr. Mayuresh Ganu

Date- 6th June

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ACKNOWLEDGEMENT

It gives me great pleasure in presenting this project report after successfully completing my summer

training as a part of curriculum at Thermax Ltd. I take this opportunity to express heartfelt gratitude

towards the management of the company.

I am thankful to Mr. Vivek Taneja (Head-Business Development) for giving me an opportunity to work

in this esteemed organization. I would also like to thank Miss. Tania Biswas for giving us the support

and guidance in helping us complete our project successfully in the stipulated time.

I would also like to thank Prof. Dr.Radha for her immense support she has given me being my project

guide who helped in the formalities which were necessary to us during the completion of the project.

Mayuresh M Ganu

PGPM-Marketing

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Executive Summary

The title of my project is “Market Research for Independent Power Plants which use biomass as their

fuel” in Chhattisgarh. As Chhattisgarh is a hub for rice mills and biomass is available in plenty which

could be used effectively in burning and using it as a major fuel for the power plants and generate

electricity which can be distributed to homes and industries so that they can use it for their core

business. The power plants operate with different equipments assembled to form one big unit to

produce electricity. The parts include a boiler, turbine, economizer, cooling tower, DM plant etc. The

fuel is fed in the boiler by a conveyer belt. Mainly the fuel used at the plants in Chhattisgarh is Rice

Husk. Because the region is surrounded by rice fields, the availability of rice husk is abundant and

so there is not much concern with the availability of the required fuel. The local farmers and biomass

suppliers get into an agreement with the company and supply them the required amount of fuel on

daily, weekly or monthly basis. The power plants operate almost without any break. The power plants

are shutdown for a month or even less in a year. Due to the efficiency of the equipments there are

not many issues in the deterioration of the machinery. Thermax is one of the leaders in providing

equipments and O&M services to the clients. Thermax is positively looking to expand its customer

base and increasing its horizon by conducting different surveys and market research activities so as

to mould itself with the changing scenario of the Business world in and across India. The task to be

done was to get in touch with the companies who have power plants operating in Chhattisgarh and

conduct a market research for Thermax about the fuel used by the power plants, technical details of

the machinery and equipment they use, overall performance of the plant and whether they are

satisfied with the performance of the entire setup. The task involved a lot of travelling to different

places in Chhattisgarh. It also required meeting and interacting with a lot of people which required a

lot of confidence and patience. Further in the report are the findings and recommendations that have

been made after the completion of the project.

To go ahead with the study, the only medium was to use the internet. From which the contact details,

addresses and the locations of the power plants could be found which helped us to get in touch with

the concerned people to visit the plants personally and extract the required information and inputs for

the company.

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Introduction

COMPANY PROFILE

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THERMAX LIMITED

THERMAX LTD. is a Rs. 33,032 million multi divisional, multi product company operating

primarily in Energy, Environment and Exports. Thermax is a publicly listed company on both the

National Stock Exchange (NSE) as well as Bombay Stock Exchange (BSE) and is actively traded on

the markets. Known for its corporate governance practices in the corporate circles, the group is

professionally managed with an executive council reporting to the Board of Directors.

Thermax limited is an Indian based engineering multinational with its subsidiaries and offices

spread over 25 locations and 16 countries across the globe. It is a global solution provider in energy

and environment engineering. A zero debt company, brand Thermax has a market capitalization of

over 1 billion USD in financial year 2010-11. As shown in the graph, the invoicing & profit figures

have had a robust growth in the past with the current profit figures having being Rs.4303 million.

Thermax offers products and services in heating, cooling, waste heat recovery, captive

power, water treatment and recycling, waste management including effluent treatment plants,

performance and specially chemicals.

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Thermax brings its rich experience gained from customer engagements around the world.

Through technology partnership and strategic alliances, it provides superior value to help industry

perform efficiently and profitably. With a dedicated sales & service network spread over South East

Asia, Middle East, Africa, Russia, India, UK and the US, Thermax ensures innovative solutions and

reliable support for client’s business improvement.

Thermax has a strong team of well qualified over 3500 employees of which around 2100 are

qualified and certified engineers. Thermax has a well-knit net work of four regional offices, seven

area offices and numerous channel partners all over India to serve our domestic clients.

Thermax Vision:

“To be a globally respected high performance organization offering sustainable solutions in

energy and environment.”

BUSINESS DIVISIONS

POWER

The division specializes in system design and EPC implementation as required for Captive/ Co-

gen Power Plants. Apart from undertaking projects on a turnkey basis, the Power Division also has

its O&M department.

Thermax having over 11000 GWh of energy generation experience.

Over 900000 hours of operational experience.

Integrated turnkey solutions.

Over 926MW commissioned & over 1100MW under execution and final commissioning.

BOILERS & HEATERS (B&H)

The division is involved in various process and utility boilers. Some of the salient features of

the division are as follows:

The tie-up for technology- Babcock & Wilcox, USA

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Accreditations – ISO 9001-2000, ASME “S”,”U”,& “H” stamp, NBBI “R” certification,

Manufacture License of Special Equipment people’s Republic of China –A- Boilers, D1, D2-

Pressure Vessels, ISO 14001, OSHAS 18001.

COOLING & HEATING DIVISION (C&H)

This ISO 9001 division caters to the industrial and commercial demands of comfort cooling in the

form of Chillers up to 1400TR (single machine) using Vapor Absorption technology. Both direct fuel

fired and steam fired machines are available. These are manufactured in technical collaboration with

Kawasaki Heavy Industries of Japan.

The heating group has a wide range of offerings on more than 140 fuels with major thrust on

offering combustion solutions for locally available biomass fuels & oil/gas. It offers varied solutions

for heating like boilers, hot water generators and Thermal Fluid Heaters. The group has also

introduced power saving hot water generators for hotels & hospitals and small boilers fired on heavy

oils, saving substantially on fuel costs.

ENVIRO

This division caters to total Solution in Air Pollution Control. The systems offered are:

High efficiency Cyclones, Multicylones & spray Cyclones.

Baghouses – Reverse air, Pulse Jet & Insertables.

Electrostatic Precipitators – Dry & wet.

Particulate Scrubbers – Venturi, Cyclonic, Impingement Plate.

Gaseous Scrubbers – Packed Bed, Spray / Tray Towers.

Flue Gas Desulphurization (FGD) system.

Ammonia Flue Gas Conditioning System.

Dedusting & fume extraction system.

Coal preparation Plant & Coal Injection Systems.

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WATER & WASTE SOLUTIONS (WWS)

WWS design and manufacturers water treatment plants on turnkey basis for a variety of industrial

and power application. Many power projects with capacities ranging from 50 MW to 500MW set up

by NTPC and state electricity boards are equipped with our water treatment plants.

The solutions offered are

Raw water clarification / pretreatment.

Water softening & filtration.

Demineralization.

Reverse osmosis.

Condensate polishing.

Tertiary Treatment.

Effluent Treatment.

Sewage Treatment.

Waste water recycling.

Solids & pathological waste incineration.

Chemical incineration.

Chemical recovery systems.

CHEMICAL DIVISION

The division manufactures Ion-exchange resins, Oil well chemicals, Cooling water chemicals

and Polyelectrolyte’s for process industries.

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Objectives of the study

OVERVIEW OF BIOMASS POWER SECTOR IN INDIA:

OVERVIEW:

The total installed capacity of power plant in India is 1,73,626.40 MW but we are facing a

power deficit of around 10%. The per capita power consumption is 665kWh and this figure is

steadily increasing.

To meet this increasing demand and reduce the current peak shortage, the Government has

planned to double the existing capacity to 3,00,000MW over the next decade(2010-20).

Biomass Power Scenario India has a biomass availability of 150 million MT per annum which

gives us a potential to install 16,000MW of biomass based power plants. To release this huge

potential, we need an investment of Rs.1,00,000 crore.

Some reasons for lack of investments in Biomass sector are: It costs around Rs.6 Crs/MW

for a Biomass plant whereas a thermal plant requires only about Rs.4.5 Crs/MW. Availability

of Biomass fuel with high calorific value (>2500kcal/kg). -

Biomass based power generation is a choice of reality under the geographical regions where

a sustainability exists in the flow of biologically raw materials for the production of power and

India is one of the most notable universal giants for the production of biomass based power

which can be best understood from the estimates of its biomass availability and the power

produced from it.

India has biomass production of 546 million tonnes per year from the agricultural sources

alone to generate electricity at a capacity of 17,982 MW and its overall production of power

from renewable sources stands at 34961 MWe in 2010.

The development of biomass based power is further enhanced by the Government regulatory

policies by declaring duty exemptions, tax breaks and financial incentives etc. The cost of

producing electricity from biomass is affordable at Rs: 2.25-3.25 / kWh. In spite of all these

attempts biomass based power generation is at its infant stage because of hindering factors

such as feedstock availability, transportation, price volatility etc.

India to emerge as a role model must utilize its renewable energy sources to a large extent,

develop dedicated energy crops, establish end user market for co-products such as charcoal,

biochar, activated carbon, and implement energy efficient technology for economically

feasible power generation on a massive scale.

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Source - Wikipedia

Some of the state Feed in tariffs

Sr.No STATEFEED IN

TARIFF(Rs./kWH)

1 Andhra Pradesh Rs.3.59

2 Karnataka Rs.4.22

3 Maharashtra Rs.4.12

4 Chhattisgarh Rs.4.22

5 Tamil Nadu Rs.4.39

6 Punjab Rs.4.75

7 Rajasthan Rs.4.09

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Source-http://www.icra.in

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The tariff regulations for renewable were announced by the CERC (Central Electricity Regulatory

Commission) in September 2009. Table shows the levellised tariff indicators as stated in the tariff

order issued in November 2010 and applicable for projects to be commissioned during FY 2011-12.

Promotional Incentives

1. Accelerated Depreciation 80% in first year (Boiler and Turbine).

2. Income Tax Holiday under Section 80 1A for 10 years.

3. Concessional import duty; excise duty exemptions on equipments components required

for initial setting of the project.

4. Sales tax exemption in some states.

5. IREDA provides loans for biomass power projects.

6. Preferential Tariff in 14 States.

FUEL SCENARIO:

Main source of Biomass is Agriculture, and in agriculture all crop are depend on atmospheric

condition means seasons. For agriculture there mainly two type of seasons and as per that

crops are divided. They are as follows :

As per seasons crops are distributed as follow:

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Season Information

Season Harvesting Period

Kharif From Month of July to December

Rabi From Month of January to June

Perennial Throughout the Year

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Sl. No.

                                Season

 Kharif & Rabi Kharif       Rabi      Long

Term Crops

Either season

or both

(July  to Dec.

only)

(January to

June only)

1 Arhar Avare Barley Areca nut

2 Bajra Barseem Coriander Cardamom

3 Banana Castor Seed Cow Gram Cashew nut

4 Black Pepper Coriander Cumin Seed Casurina

5 Cotton Cow Gram Dry Chilly Coconut

6 Dry Ginger Dry Chilly Isabgol Coffee

7 Fodder Crop Garlic Kesar Eucalyptus

8 Fruit crop Guar Kulthi Mango

9 Gram Kodo Millets Oilseeds Rubber

10 Groundnut Korra Other Cereals Samai

11 Horse Gram Meshta Paddy  

12 Jowar Minor Crops Potato  

13 Kesar Moth Pulses  

14 Linseed Onion Ragi  

15 Masoor Other Pulses Rice  

16 Moong Potato Teora  

17 Maize Ragi Wheat  

18 Mustard Rice    

19 Nigerseed Sawan    

20 Oil seeds Soyabean    

21 Paddy Sweet Potato    

22 Peas + beans      

23 Potato      

24 Small millets      

25 Sugarcane      

26 Sunflower      

27 Tapioca      

28 Til      

29 Tobacco      

30 Turmeric       Main fuel in Chhattisgarh :

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Name Of FuelGCV

(kcal/kg)Fuel Consumption for 10 MW

(TPH)

Rice Husk 3150 11.65

Wood (30% moisture) 3200 11.47

Paddy Husk 3100 11.84

Bagasse (40% moisture) 2800 13.11

Cotton Stalk 3210 11.44

Maize Stalk 3500 10.2

Mustard Husk 3622 10.13

SOURCE: DIRECTOR,CREDA

NATIONAL POLICY FOR GENERATION OF ELECTRICITY :

Any generating company may establish, operate and maintain a generating station without

obtaining a license under Electricity Act-2003 if it complies with the technical standards relating to

connectivity with a grid referred to in clause (b) of section 73.

Duties of Generating Companies

1. Subject to the provision of 2003 act, the duties of generating company shall be to establish,

operate and maintain generating stations, tie-lines, sub-stations and dedicated transmission

lines connected therewith in accordance with the provision of this act or the rules or

regulation made there under.

2. A generating company may supply electricity to any licensee in accordance with this Act and

the rules and regulations made there under and may, subject to the regulations made under

sub-section (2) of section42, supply electricity to any consumer.

Tariff Regulations (61):

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The Appropriate Commission shall, subject to the provisions of 2003 act, specify the terms

and conditions for the determination of tariff, and in doing so, shall be guided by the following,

namely:

1. The principles and methodologies specified by the Central Commission for determination of

the tariff applicable to generating companies and transmission licensees;

2. The generation, transmission, distribution and supply of electricity are conducted on

commercial principles;

3. The factors which would encourage competition, efficiency, economical use of the resources,

good performance and optimum investments;

4. Safeguarding of consumer’s interest and at the same time, recovery of the cost of electricity

in a reasonable manner;

5. The principle rewarding efficiency in performance;

6. Multiyear tariff principles;

7. That the tariff progressively reflects the cost of supply of electricity and also, reduces and

eliminates cross-subsidies within the period to be specified by the appropriate Commission;

8. The promotion of co-generation and generation of electricity from renewable source of

energy.

Determination of Tariff (62):

1. The Appropriate Commission shall determine the tariff in accordance with provisions of this Act

for:

a) Supply of electricity by a generating company to a distribution licensee: Provided that the

Appropriate Commission may, in case of shortage of supply of electricity, fix the minimum

and maximum ceiling of tariff for sale or purchase of electricity in pursuance of an agreement,

entered into between a generating company and a licensee or between licensees, for a

period not exceeding one year to ensure reasonable prices of electricity;

b) Transmission of electricity;

c) Wheeling of electricity;

d) Retail sale of electricity, provided that in case of distribution of electricity in the same area by

two or more distribution licensees, the Appropriate Commission may, for promoting

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competition among distribution licensees, fix only maximum ceiling of tariff for retail sale of

electricity.

2. The appropriate commission may required a licensee or a generating company to furnish

separate details, as may be specified in respect of generation, transmission and distribution

for determination of tariff.

3. The Appropriate Commission shall not, while determining the tariff under 2003 act, show

under preference to any consumer of electricity but may differentiate according to the

consumer’s load factor, power factor, voltage, total consumption of electricity during any

specified period or the time at which the supply is required or the geographical position of any

area, the nature of supply and the purpose for which the supply is required.

4. No tariff or part of any tariff may ordinarily be amended more frequently than once in any

financial year, expect in respect of any changes expressly permitted under the terms of any

fuel surcharge formula as may be specified.

5. The Commission may require a licenses or a generating company to company with such

procedures as may be specified for calculating the expected revenues from the tariff and

charges which he or it is permitted to recover.

6. If any licensee or a generating company recovers a price or charge exceeding the tariff

determined under this section, the excess amount shall be recoverable by the persons who

have paid such price or charge along with interest equivalent to the bank rate without

prejudice to any other liability incurred by the licensee.

Limitations of the study

Every study has its own limitations. In my particular case the limitations began from finding

secondary data the means provided to us by the company were internet, telephone and some

contacts of our senior colleagues. The list provided to us by the company was some years old so the

problem began when we started to find the contact details of the concerned people we wished to

contact. After a lot of research we were able to get the contacts and now it was time to fix up the

meeting and to arrange for a visit to the power plants. The problem got worse as we could not get

access to visit all the plants because the power plants are high security zones and they would not

allow any third party to visit the location. The toughest task was to convince them to permit us to visit

the location when that was not possible we tried to convince to at least let us visit the Head Offices

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so that we could try to get some inputs from the Head Offices and then again persuade them to let us

visit the location and get authentic information which would benefit the organization in the venture

they had put us to.

As we were travelling to a different state another barrier was communication (language) the

language spoken was alien to us and as we went deeper and deeper into the region even

conveyance become a major issue. Though the company made the best possible arrangements for

our accommodation where ever possible but there always was a draw back in finding the pin point

location to the exact address. Travelling day and night became a little frustrating at times but it all

was felt worth if the meetings with the clients went successful.

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Chapter II

Research Methodology

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Research Design:

A research design is like the blue print of all the activities that are involved from the beginning of the

research process till its completion, involving collection, measurement and analysis of data. The

research program should be developed by being aware of the limitations so that unwanted

conclusions can be avoided. All the conclusions should be based on accurate information and half

knowledge on any topic is avoided. The conclusions should be backed with proper documentation.

Briefing of questionnaire:

A questionnaire was given which was supposed to be filled from the information obtained from the

people at the respective power plants. The guide in the company explained the working of a power

plant in detail and all the questions & the expected answers for the questions. As some colleagues

were not from a technical background, there was a little difficulty in understanding the process and

the questions related to the equipment. But as a few days passed the process and the technical

terms became familiar.

Primary data:

Primary data is the first hand information which is received on site. The data which was gathered

after personally visiting the location and the inputs by interacting with the staff at the plant is the

primary data. By visiting the site or the head quarters of the clients attempt was made to get as much

as information possible which would help in making the report and give appropriate idea to analyze

the complete data and give recommendations.

Secondary data:

Secondary data was already provided by the company that is the name of the company, the location

of the plant and the capacity of the power plant. After this initial help by the company, the contact

details were found. The meetings were arranged with the concerned people to get vital inputs.

Sample design:

The sample design for this particular project was to target Independent Power Plants using Biomass

as their fuel in Chhattisgarh state.

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Sample size:

The population size was 38 power plants. Out of which, the company already had the information of

9 power plants and 14 power plants are Uncommissioned. Hence, the sample size for my project

turned to be 15 power plants. I had to visit the 15 power plants located at different parts of

Chhattisgarh.

Method of data collection:

Data collection involved several methods

Questionnaire

Internet

Telephonic Conversations

Company contacts

Personal contacts

References

On site surveys

Field work:

The field work was done in order to achieve the target of the market research. The region was

chalked out and the field work required rigorous travelling to interiors of Chhattisgarh state and

meeting expert people in the field of Energy.

Data analysis technique:

The data that was gathered was kept in a hard as well as soft copy which was later used to draw

graphs to support the theory with the help of using MS Excel. By use of these computer aided tools,

it became very convenient to analyze the data that was gathered and mould it into useful information

which would further benefit the company.

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Chapter III

Theoretical back ground

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Theoretical Background of our Study

Market research is a systematic method to gather information about markets conditions or

clients who are interested in a particular commodity. It is the most essential component of a market

study. The term is promptly changed with market research. Expert people from the industry may wish

to differ by saying that marketing research is concerned with the main fundamental of marketing

processes, and market research is specifically related to markets.

Market Research is one of the major factors to have a competitive advantage over your competitors.

Market research provides gives in depth information to analyze and then give valuable inputs and

recommendations that best suit the market condition at that particular time and also change

accordingly.

Market research is basically done to know exactly what people are looking for, what they

believe in and what they seek from it. The complete information that is gathered can be analyzed and

proper knowledge and very viable inputs can be implemented so that it leads to maximum profits to

an organization.

Discussions, questionnaires related to the study are some methods that can be

implemented for market research. The selection of questions is also very important as it should not

give any wrong idea or impression about the whole research that can bring the entire research to a

standstill and will create a negative impression about the whole concept behind the research.

Market information

A thorough knowledge of the market is required in this competitive world. If one is

unaware of the changing world and what new trends and technologies your competitors are using or

coming up with, then it’s a loss of time and money. If one doesn’t change with the changing

environment then there can be a lot of loss of opportunities. But being up-to-date with the advances

will definitely lead to success and will help expansion of the business to a whole new level. Market

information can be gained from a number of sources.

Market segmentation

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Market segmentation is the division or segregation of the market with respect to

geographic location, market conditions and people. Market segmentation is done to prioritize what

exactly is the objective of the company which field it wants to enter, what sort of products they want

to make, which place they want to set up their plant where all they want to sell their products and so

on. All these things contribute towards market segmentation which helps gain in depth site of the

market.

Market trends

Trends show us the pattern of the market it could be upward or downward or stagnant.

The market trends show us the exact situation of the market for a given period of time these trends

lead to a particular pattern which may follow over a period of time this helps a researcher to study

these patterns and predict what the future could be like and make necessary changes that would

help the organization take precautionary measures so that any kind of losses as well as maximum

advantage can be gained from a particular time.

Some techniques are:

Customer analysis

Choice modeling

Competitor research

Risk analysis

Product analysis

Surveys

A survey is a systematic representation of the data collected through the ways of interviews,

conversations, questionnaires, or even information gathered through search engines. They can be

quantitative as well as qualitative and aim at collecting information for the purpose of analysis. The

larger the size of the population less is the scope of error smaller the population the more is the

chance of error. Many organizations have surveys done for continuous assessment of their progress

it also helps them to understand what exactly people are expecting out of their products and

services. Companies even post their questionnaire on the internet so that people can fill them up and

share their views and visions for the same.

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ADVANTAGES OF SURVEYS

Takes less time

Easily done via internet

Can be done over the telephone or can be faxed

Bulk surveys are no problem

The population can be sampled appropriately

Standard question are only asked to avoid ambiguity

A lot of information can be generated in a short period

Analysis becomes simpler

DISADVANTAGES OF SURVEYS

Difficulty in collecting genuine information

Face to face interaction has a different impact

Sometimes not cost effective

Requires good analysts

CLARIFY THE PURPOSE OF THE SURVEY

The purpose of the survey must be clearly understood because the complete analysis will depend on

this study. Any failure in the interpretation, then the purpose of the survey and the entire analysis can

get distorted and it will be total failure. Similarly if you understand the whole idea behind the purpose

you can excel in your task. If the information got is genuine and authentic then it becomes very

simple to analyze the data and give the study the desired shape.

WHAT DO YOU LEARN FROM THIS SURVEY?

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Reason for choosing this survey

What do you intend to learn

Results from your study

Maintaining your research questions

What you think about the survey

To the point

Emphasize on the ‘need’ to know

Method selection

Surveys collect information not trying to sell anything

Opinions should be carefully noted

Thought process

Subject knowledge

Psychology

Grasp what is needed and let go of unwanted things

Patience

Professional etiquettes

Training Task Details

Our training began on the 18th of April 2011. We were asked to report to office at 9a.m. We

worked for the power division of Thermax India limited which dealt with the energy sector. We were

told that we would be training with the Business development team and will be working on Power

Plants. There we were given the technical knowledge on how a power plant works and what are the

required things we need to know about the entire working and practical knowledge about power

plants.

Types of Power Plants

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Power plants operate on

Solar

Nuclear

Thermal

Biomass

Wind

Tidal

Hydroelectric

We were given the task of conducting market research for Power Plants which use biomass as their

fuel. There are again different categories of power plants in them namely

Captive Power Plants

Co-generation Power Plants

Independent Power Plants

Again from the above category we were asked to work on Independent Power Plants which.

What are Independent Power Plants?

An independent power plant is not a public entity it’s an entity which generates electricity for sale and

distributes it to the end users. Independent power plants only produce electricity exclusively for the

end users and do not use it for any other purpose except supplying it to the grid. Subsidies are given

to the companies who want to setup such plants by the government because there is a shortage in

the supply in the electricity grid from where the government further supplies it to the end users.

Schematic Diagram of a Power Plant

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Main Parts of a Biomass Power Plant

Fuel storage

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Fuel transportation to the boiler

Boiler

Ash system

Steam turbine

Cooling tower

Generator

Control equipment

D.M plant

Fuel storage

A huge storage area to store the fuel for daily requirement plus storage during shortage in the market

of the fuel used by the company to run their plant is necessary. Every plant has a storage area in and

around the plant so that the fuel can be fed in the boiler in regular intervals of time as required.

Fuel transportation to the boiler

It is known as a conveyer belt which carries the fuel from the storage area to the furnace of the

boiler. The conveyer belt is a mechanical device which moves in a circular fashion to carry the fuel to

its destination.

Boiler

A boiler is a closed vessel in which water or other fluid is heated. The heated or vaporized fluid exits

the boiler for use in various processes or heating application, the pressure vessel in a boiler is

usually made of steel. The source of heat for a boiler is combustion of any of several fuels, such as

wood, coal, Agro waste, Juli flora, natural gas.

Ash handling System

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Ash handling refers to the method of collection, conveying, interim storage and load out of various

types of ash residue left over from solid fuel combustion process. The most common types of ash

include bottom ash, bed ash, fly ash, and ash clinkers resulting from the combustion of coal, wood

and other solid fuels, fly ash is generally captured by electrostatic precipitators or other particle

filtration equipment before the flue gas reach the chimneys of the power plant.

Steam turbine

A steam turbine is a mechanical device that extracts thermal energy from pressurized steam, and

converts it into a rotator motion. It is particular suited to be used to drive an electric generator.

Cooling tower

Cooling tower are heat removal devices used to transfer process waste heat to the atmosphere.

Cooling towers may either use the evaporation of water to remove process heat and cool the working

fluid to near the wet-bulb air temperature or in case of closed circuit dry cooling towers rely on air to

cool.

Generator

As the turbine rotates due to the steam pressure the generator has rotors in it which also rotate at

the same converting the kinetic energy into electrical energy. And then the electricity is supplied to

the grid through transformers.

Control Equipment

Control equipment can be of two types one is the pollution control equipment and the other the

controls to the machine that are used in the power plants. The additional equipments which are

added also are controlled with the help of these equipments.

D.M Plant

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De materializing plants are often used to soften or de materialize the water which is used in the

power plants, if the water contains minerals or salts in it can corrode the metal and destroy the

equipment which is worth lakhs of rupees. Places which have hard water have to compulsorily

employ de materializing plants to filter soften; reduce pH content in the water.

Region Allotted For Market Research

The region that was allotted was Chhattisgarh. There was list of Independent power plants from the

CREDA (Chhattisgarh Renewable Energy Development Agency) which had the list of power plants.

The first task to accomplish was to find out the contact details of the companies, either the details of

the plant location or the head offices. Most of the sites were located at far off distances in various

districts in Chhattisgarh. Most the sites use rice husk as their main fuel because of abundant rice

fields around the place. The availability of rice husk is so much that the power plants don’t even store

the fuel sometimes the local farmers get the rice husk to the location on daily basis. There were

almost forty sites from which the information was to be gathered and fix up meetings to visit the

location to conduct the survey. The distances were very vast and to complete those many site was a

tough task.

Sorting and Filtering of Sites

Due to large population of the plants, sorting the location was important. Power plants had to be

chalked out with respect to their capacity and then location wise. Majorly the sites to be visited had

their head offices located at Raipur. Hence, the task of meeting people at the head offices was also

done to get the required data.

Problems while setting up meetings

As the power plant is a high security zone usually nobody is entertained to visit the location directly

and if we visited the head offices the exact information of the plant situated elsewhere is not got.

Another problem was to convince them that the information provided by them will not be leaked.

Problems faced while on tour

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The main issue was to locate the pin point address of the office as well as the site. As most of the

places were small village areas, finding them was very difficult. After reaching the location, the wait

to meet the concerned person began and sometimes the person had even left before, so the meeting

had to be postponed or rescheduled according to the convenience of the concerned person. Some

people co-operated and some people just did not give time or proper information. Sometimes there

was no authenticity to the information because it was hard to say whether the person giving the

information is 100% sure of it.

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Data-Analysis Techniques

Summary of Power Generation from Biomass in India

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India is primarily an agricultural nation with a wide variety of different types of seasonal crops

including pulses, oil seeds, spices, fiber crops, cereals etc. with the endless supply of these crops

and easy availability of the residual biomass power generation is economical and as well as easy to

produce and distribute with the help of booming technology.

Agricultural resources serve as an excellent applicant to power generation either by combustion or

gasification. But these residuals emit biochemical’s and moisture so a standardized procedure and

limit to make appropriate dumping zones for them.

According to the government over 60,000 villages are not connected to the grid, biomass here can

play an important role in power generation for its easy availability in rural areas. A wide variety of

feedstock can be employed with significant quantities. The main market segments for the biomass in

India are small and medium industries, commercial sector and rural communities. Increasing

biomass based power generation is being seen as a major replacement for diesel based

backup/standby power. The problem faced by biomass power plants is the supply of biomass at

lower prices. This is a very critical determinant to the success of biomass power plants. Due to this

many power producers are entering into long term contracts, choosing proper location for their plants

and also the capacity of the plants based on local availability of the resources.

Progress of grid connected projects in India as in 2011

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Fuel MW %age

Total Thermal 112824.48 64.98

Coal 93,918.38 54.09

Gas 17,706.35 10.2

Oil 1,199.75 0.69

Hydro (Renewable) 37,567.40 21.64

Nuclear 4,780.00 2.75

RES** (MNRE) 18,454.52 10.63

Total 1,73,626.40 100

These are the latest figures till 2011 of the progress of the projects connected to the grid and adding

to the supply of electricity to distant villages of rural India. The source of information is Ministry of

Non-Conventional Energy Source (MNES). The government is also providing many subsidies to

these power producers to fulfill the requirement of the shortage of electricity supply in India and also

provide employment to the local population staying in and across rural vicinity. These efforts are

being made from a long time and success is coming steadily.

Status of biomass power in Chhattisgarh

Potential Commissioned Projects Status

300MW 25 Potential exhausted

Source - Director,CREDA

The above table clearly mentions that the potential of power generation from biomass is exhausted

as of 2011. The CREDA is not giving any more approvals to the power plants that want to use rice

husk for power generation.

Power Generation Potential from Biomass in Chhattisgarh

35

Source - http://www.powermin.nic.in

Renewable Energy Sources(RES) include SHP, BG, BP, U&I and Wind Energy, SHP= Small Hydro Project ,BG= Biomass Gasifier ,BP= Biomass Power,

[ [

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According to the information from Chhattisgarh Renewable Energy Development Agency (CREDA)

the potential for Biomass in Chhattisgarh is 300MW. The chart below gives the district wise potential

for generation of power from Biomass. Raipur and Durg display highest potential in all the districts

and these two are the only districts which show more than 35 MW of potential.

Source – Executive Engineer, CREDA

We can see from the graph above that there are a lot of places that still need to be developed and

have a lot of potential for growth and measures have been taken to develop the regions where there

is scope for improvement and additional supply to the grid is possible. The state government has

announced a scheme of providing a capital subsidy of Rs.25 lakhs per MW to excess supply to the

grid. This is an encouragement to the parties to invest in the power from biomass.

List of biomass power projects

36

Total Power Potential (in MW)

05

101520253035404550

Rai

pu

r

Mah

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un

d

Dh

amta

ri

Du

rg

Raj

nan

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Kab

ird

ham

Bila

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Jan

jgir

Ko

rba

Rai

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Sarg

uja

Jash

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Ko

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Jagd

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Dan

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Kan

ker

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Biomass Power Projects Already Commissioned

0

20

40

60

80

100

120

140

<=5 MW >=5&10MW >10&15 MW >15 MW

Cap

acit

y i

n M

W

0

2

4

6

8

10

12

14

16

18

No

. o

f P

roje

cts

The range of biomass power projects varies from 3 MW to 25 MW, most of the projects lie in the

range of 5-15 MW.

Source - CREDA

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Percentage of Use

75%

15%

10%

Rice Husk

Wood Chips

Other

Potential for Power Generation from Rice Husk and Wood Chips(in%)

Rice husk is the single largest source of power generation from biomass in the state of Chhattisgarh.

Woodchips provide the second largest source and the biomass residuals provide the rest of the

source for power producers. The rice husk that is generated is an important energy source. The unit

cost of electricity produced using rice husk is comparatively cheaper than diesel generated

electricity. Because of cost efficiency the unit cost of electricity produced by rice husk is Rs.4.22/kW.

Source – Engineer,CREDA

Initial Techniques and Approach Used by us for the Project

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After doing the secondary research through the internet and using contacts from the company, the

main task was to establish contact with the power producers from the list provided to us. Now the

task was to get in touch with the right people who could help us to get permission to visit the power

plant site which would facilitate our research.

The initial strategy adopted by the company was to approach all the companies without using the

company’s name. This was done in order to check if the people were ok if students could visit sites

as a part of the college curriculum and that there would no problem in the future. Some of the

companies did entertain us but most of them did not give any response as they thought it was just a

waste of time. After spending a lot of time and explaining it to people about the importance of the

study, a few of the meetings got fixed at various locations in Chhattisgarh. The meetings that were

fixed were negligible compared to the meetings being lost. It was frustrating at times because there

was absolutely no response from most of the clients. There was a lot of pressure at times but the

work had to be completed in the given time. Several mails were dropped to the various designated

officers of all the companies in the hope for a positive response from them. But again there was just

failure that came our way. After meeting the head of our company and our project guide and

explaining the entire scenario what exactly was happening and what was going on and they guided

how to approach people and talk to people in different organizations at different posts. We again tried

with our level best with the valuable inputs from our guides to get in touch with the clients and carry

on the research. This struggle to establish contact and get appointments to visit the plants continued.

Again this was conveyed to the head at the office.

This was high time and the company had to do something about it. The head told us to change our

strategy and approach totally. Now the approach was to tell the customers about Thermax ltd. The

liberty of using the company’s started showing results. Again with a positive approach and the

guidance of the mentors and, the work to establish contacts began.

Change of Strategy

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After the failure of the initial strategy, the switch-over to the second strategy took place immediately.

Being given the liberty of using Thermax ltd’s name which would have a greater impact on the

clients, mails with the name of Thermax were dropped and also the telephonic conversations were

done with the same reference. After switching to the second strategy, there was a confident feeling

as there were quite a few positive responses from the clients and meetings were lined up in the

course of coming days. After all the appointments were fixed, it was time to enter into the field work

and then the real physically strenuous work began. The task was to travel to Chhattisgarh all my

clients were located there. The journey began from Pune to Raipur and then other parts of Raipur.

After reaching the location again it was important to locate the pin point address of the plants. After

reaching the site, task was to meet the site-in-charge who could provide with the details and

specifications which was important as a part of the survey. Getting the information from them was a

difficult task as dealing with the experts from the industry and who were very well versed with their in

depth knowledge in the same field. Talking to the people in-charge of the plant gave us several

inputs about their operation and also what problems they face while operating their power plants and

what strategies they employ and how quickly they adjust to the changing situation and what

remedies they apply to mitigate any problem in the short run. Maintaining such huge setups of power

plants and the day-to-day requirement and is not an easy task; they have to undergo a lot of audits

from the government as well as internal audits and inspections. Due to the burning of the fuel a lot of

pollution is created and for this they have to maintain certain standard and procedures stated by the

government and strictly follow them otherwise they can lose their license. All the things have to be in

place at the right time. Even the ash that is formed has to be properly dumped or given away to

ancillary industry to be used as an ingredient for their product. The energy sector has a very wide

scope in the coming future. If all resources channelized properly the returns got from it can also be

huge according to the information provided by the people who run power plants. Talking to the MD’s

and VP’s of the companies was a good experience they co-operated pretty well and provided all

possible help they could. It was also important to be constantly in touch with the heads of the

companies who had their offices in other locations but guided us throughout our journey till we

reached the location of their power plant. All the information gathered will be further analyzed by the

Technical team of Thermax and used in the future for the expansion of their business.

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SWOT analysis – Biomass power

Strengths :

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Decentralized: The central government has given the authority to the state government to control

the entire functions related to the power plants in their respective areas which helps the power

producers to change their strategies or tariffs that best suit their requirement based on the changing

scenario.

Self-reliance: Independent power plants do not depend on external sources for their auxiliary

requirements and hence there is no problem of any kind of shortage of power for its functioning.

Environmentally sound : Due to the use of a renewable resource for the generation of power, these

power plants are environment friendly. These power plants use the waste that is generated by the

agricultural farms hence they act as a cleaning agent for the farms too.

Locally available fuel: The fuel used by the power plant generally includes rice husk, groundnut

shell, coconut fronds, wheat husk etc and these are available locally from the farms surrounding the

power plant vicinity. Hence, the transportation cost is also relatively cheaper.

Potentially adequate to replace fossil fuelled energy conversion: Being locally available at

cheaper rates and having a competitive calorific value in comparison with fossil fuel, biomass is

considered to be the future replacement for fossil fuels in generation of electricity.

Weakness :

Replicability not yet proven (Low visibility): Lack of knowledge is to be blamed for the low

replicability of the biomass based power plant. People are not yet aware of the fact that biomass

could also generate as much electricity as that of fossil fuels at a relatively cheaper rates. The fact

that hardly 7-8% power is biomass generated of the total power in India proves the low visibility.

Capital cost may (claimed) be too high: Most of the biomass based power projects are of smaller

capacity even though the fuel is found in abundance. They should try to increase the capacity of

generation of power & install larger plants.

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Fuel dispersed: The location of the power plant is based on the availability of the fuel. The biomass

is mostly available in some parts of India such as Andhra Pradesh, Chhattisgarh, and Chhattisgarh.

Hence, the power plants have to be setup in the proximity of these areas.

Opportunities :

Costs are declining: The costs of the equipments are on the trend of declining due to the immense

competition in the market. Due to the entrance of Chinese make equipments; the Indian

manufacturers have been forced to keep a competitive price of their equipments.

Gestation period low: The gestation period of the biomass based power plants is relatively less

than that of the Thermal power plants. As it has a lower installed capacity hence the gestation period

is also lesser.

Power generation costs lower than fossil fuel system: Due to the lower costs of the fuel used in

power generation, the total costs of power generation are also relatively lower. The costs of the fossil

fuels are increasing day by day and hence making the cost of power generation costlier. The

biomass being a very cheap and easily available fuel makes the power generation cheaper.

Fossil fuel substitution very high: The fossil fuel costs are expected to keep rising day by day.

India is one of the countries where fuels are the costliest in the world. Hence time has come to look

for an alternative to fossil fuel and biomass is certainly one of the best alternatives available.

Biomass has got a calorific value of 2500-4000 kJ/kg which is a decent figure to generate power.

Potential very high: The biomass includes rice husk, wheat husk, coconut fronds etc. It has got a

decent calorific value which is sufficient to generate electricity. Coal is the fuel which is used in

abundance. Its calorific value is around 5000 kJ/kg. But, the disadvantage is the pollution which it

creates. Hence, biomass should be looked as an alternative for the future to generate power.

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Available for continuous duty operation: As 70% of Indian population depends on farming, hence

the amount of biomass it generates is immense.

Threats :

Power sector reforms may under emphasize biomass based systems: The use of fossil fuel in

more emphasized today, so biomass may be left behind as no reforms could happen due to the lack

of interest of the government and the private bodies. As a result of this, the use of biomass may get

restricted and interest of the parties to invest in biomass will be deteriorated.

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Analysis of the survey

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Safety Concerns : There were many safety related issues which were seen at the sites. Some

companies do follow the procedures and the rules of the DU-PONT but other smaller units do not

follow any safety measure to cut costs and hence there is a urgent attention to be paid towards this

issue. The use of safety equipments like the Safety Helmets, Safety Shoes etc was not mandatory at

some of the sites which is a cause of concern. The techniques of Safety Management are often

ignored by small scale industries. Hence, some kind of training & implementation activity needs to be

carried out in such industries.

Boiler Vendors : In the survey conducted by me on behalf of THERMAX, it was seen that most of

the sites in the state of Chhattisgarh has got Chinese vendors. Chinese vendors like Dongfang, Wuxi

are fast getting into Indian market. The found reason for the Chinese upper hand in Chhattisgarh is

that, the cost of the Chinese boiler is less than than of its India counterpart. And the power producers

in Chhattisgarh are small mill owners hence they always opt for the cheaper alternative.

Also the Chinese manufacturers are very quick in commissioning their boilers. The time of delivery

has been also very competitive and the power manufacturers in India need quick delivery of the

equipment.

Turbine Vendors : Chinese manufacturers are leading in the state of Chhattisgarh. Manufacturers

like Manjing, Shinnippon, Quindow are the once being mostly used. After getting the feedback from

the power plant heads about the performance of the turbines, it had been noticed that the Chinese

turbines have been giving a decent performance. Shutdowns in the initial stages of commissioning

had been there but with a regular maintenance work, the equipment is working well.

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MANAGEMENT LESSONS

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You might miss a great opportunity, if you are not well informed about your job.

Build the culture of respect between the two tiers i.e. managers and employees.

Employees of same department of the company focuses more on main goal rather than

comparing itself to colleagues, increases communication and they’re driven to innovate.

Every employee of the company needs to be in sync with their superiors and subordinates.

With consistent success comes greater trust by senior management to make independent

decisions and improvise when necessary.

Every employee of the company needs to have a clear understanding of their company’s

objective and be able to derive that forward.

Share even critical information with your superior in time, you may be in position to prevent

avoidable exposure.

Always let your boss has the first say, interrupt if you have something innovative regarding to

the project.

Be prepared for meetings no matter whether it is a large meeting or a simple one on one

conversation. Your communication should be accurate, and if necessary, backed up by the

appropriate documentation.

Do not make assumptions about non-specific words.

The entry and exit points of the plant are secured by real time monitors; therefore, one should

cooperate with the security procedure.

Behave patiently and show respect towards security officers and their procedures.

Each department should develop a list of the kind of information they feel is lacking from

other departments. It is an effective way of horizontal communication.

Always treat others the way you would like to be treated. Treating other employees

respectfully encourages a workplace that is joyful and productive.

Good communication develops when all employees are kind and care about the well-being of

others employees.

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For effective and efficient organizational communication, it is necessary to eliminate

communication overload and ensure smooth flow.

For resolving interdepartmental conflicts, negotiating on Win-Win situation is beneficial for the

organization.

Organization should support open door policy so that the employees feel comfortable and are

able to express their doubts and feeling to their employers.

Every employee wants to be respected, appreciated, have opportunities to grow and learn,

and be compensated appropriately. For a long term success, top level management need to

take care of all these aspects.

 Leaders have to consider themselves as a part of team, not as someone who manages or

guides the team members.

To have better communication amongst employees management should develop an

environment which stimulates excitement and enthusiasm for the job.

Set an objective for the meeting, it will help you in planning the whole schedule.

Plan your meeting accordingly so that the organization will get fruitful results.

Be sure that you and the client are in agreement with a specific deadline regarding the

project you have discussed.

Be punctual for your meetings as it creates an impression about the company.

Be brief when speaking and make sure what you say is relevant.

Organization should have a clearly defined customer service policy.

Be consistent with good ideas so that customers can rely on you to solve their problems.

Suggest your clients the best deal among the alternatives and make sure they will believe

that you know what's best for them.

Build mutual trust and respect. Once you've grown to understand each other and trust the

quality of results, you can rely on each other's instincts and trust each other's judgment.

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Maintaining good relations with your existing employees and customers is more profitable

than finding new ones.

For gaining the loyalty of the customer one should provide excellent services to them.

There is a direct relationship between the level of customer satisfaction and the quality of

employee’s efforts, so management have to motivate their employees enough to customer

satisfaction level.

Customer always expects little more than what has been promised.

Little knowledge about the product or project is dangerous as the customer has the same

depth of knowledge or experience. So be well prepared before solving any customer’s query.

Be up to date with new emerging technologies.

Be honest and up front about information that your clients should be well aware of i.e.

transparency is a key element for gaining loyalty.

 Estimate the time frame for each project by which the task must be completed.

Time is an important asset in business, therefore, use your time wisely.

Align your priorities with organizational goal to get best output.

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Recommendations

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Concentrate more on power generation by renewable resources of energy: The market

research of the biomass based power plants prove a vital point that there exists a huge potential in

the power generation by the use of renewable resources. The figures of the Janjgir district clearly

indicate this fact to be true as there exists a surplus of close to 40% excess amount of biomass

available.

Cost of equipment: Most of the power projects are on small scale i.e. between 2-10MW and small

scale companies cannot afford the expensive equipments that are necessary for the functioning of

the power plant. The major equipments include a BIOLER & a TURBINE which contributes 50% of

the entire cost of procurement of a power plant. Hence, the company should keep the costs of

equipments competitive to the market.

Concentration on O&M service: Most of the companies owning a power plant have their own

Operation & Maintenance teams which may have flaws and Thermax should convince those

companies to take the advantage of their expertise for that task. The advantages of outsourcing the

Operation & Maintenance are plenty as the client doesn’t have to bother about the functioning of the

power plant.

Thermax should approach and convince the clients who use Thermax boilers to take up the O&M

from them.

Multifuel boilers: Now a day’s power producers do not depend on one fuel as a source for their

power plant due to the fluctuation in price or availability. So there is a need for multi-fuel fired boilers

and there is a demand for them too.

Customer Feedback: Thermax should take regular feedback from their customers in order to keep a

check on their equipments performance and also for a continuous cycle of improvement. This will

also enable Thermax to maintain good customer relations which will in turn enhance the company’s

business and image in the market.

Technical Delay: In order to maintain its reputation in the market, Thermax should avoid delays due

to technical or manufacturing reasons as far as possible. Due to the shortage of power in India, many

private players are getting into the field of energy and because the Indian manufacturers are not able

to meet the requirement, these power producers are employing equipments from abroad. This is very

important so as to sustain in the highly competitive market.

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Conclusion

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The very high potential of biomass, India’s capacity to add another 16000MW through

biomass, biomass generation becoming financially viable, an established institutional framework

with industrial base, increased awarenesss of environmental issues are the factors which help in the

penetration of biomass power generation.

The survey that was carried out was for Biomass based power plants in Chhattisgarh. The

power plants were in the range of 2 – 20 MW. The cost of fuel was found to be varying between

Rs 1100-Rs 1800 /tonne. This variance was seen mainly in accordance with the seasonal changes

occurring in the particular region. The fuel became costly mostly during the rainy season.

The generation cost for the power plants was found to be around Rs 4.15 to Rs 4.50 /kWh.

Coal was found to be used in very small quantities as it has a higher calorific value.

After speaking to a lot of people from the industry it was found that people are unaware about

the presence of Thermax in the field of EPC though they very well knew about its boiler

manufacturing capabilities.

Thermax being one of the major in boiler manufacturing should be vigilant and aware of the

competition from the Chinese vendors. Though, Thermax holds an edge over Chinese vendors in

terms of quality but it should be kept in notice that the small power generation units cannot afford the

high cost of the equipment.

Multifuel boilers are the latest demand of the market and hence it gives Thermax an

opportunity to go flamboyantly at that segment of the market.

Thermax should try to get a grip over smaller projects as its name is not much familiar with

smaller power manufacturers.

There is a great opportunity for Thermax to build a good relation with these small

manufacturers & capture that segment of the market.

The power industry has got a very bright future as the needs in India are ever increasing and

there is a huge shortage of power. There is a demand for eco-friendly power generation and the non-

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renewable resources of energy are fast getting depleted, hence the fuels like biomass, solar, water

which are renewable resources should be considered as future prospects and new innovations

towards power generation from renewable resources should continue to take place.

Thermax being a brand in the power sector, the customers always want Thermax to push its

limits and go beyond expectations. The EPC should be very acutely timed and the targets must be

achieved which is a major part of customer satisfaction.

As said by the management guru Mr. C K Prahlad that with globalization, CUSTOMER has

become more powerful and pro-active figure, hence satisfying the customer i.e. ‘The Bottom of the

Pyramid’ is the biggest achievement for any company which is the ultimate goal of Thermax too.

55