Institute of Management Nirma University

Master of Business Administration Full Time (Batch: 2015-17)

Term I Managerial Accounting (MAC) I

Individual Assignment Guidelines and Expectations

Annual Report 2014-15 (Year Ended on March 31st, 2015) of

Automotive axle Ltd.

Submitted by:Kushal Shah

Roll no. :- 151125

1 Basics of Business

1 What is the companys business? Explain in about 300

words.
Automotive axle ltd is a joint venture of Kalyani group and Meritor
Inc.,USA. It is in the business of manufacturing auto components.
The company manufactures components like heavy duty drive
axles , high efficiency gearing , integral break to axle design ,
weight option design , driver operated differential locks , drive axle ,
non-drive axle , front steer axle , speciality and defence axle , drum
and disc brakes. It sales components to truck and bus
manufacturers of light, medium and heavy category and for
commercial and defence vehicles. It is one of the largest
manufacturer of rear drive assembly. It has plant located in mysore ,
rudrapur , jamshedpur. Daimler , BEML , Ashok Leyland , Tractors
India , Mahindra , TATA Hitachi , Kamaz are major customers of the
company. It purchases goods from Bharat Forge ltd, Meritor Heavy
System LLC., USA, Meritor Brazil, Meritor HVS Sweden, Meritor HVS
Cameri Spa Italy.

2 What are its main products and services? Name some of the
companys brands, if any.
Automotive axle ltd is in the business of manufacturing auto
components. The company manufactures components like heavy
duty drive axles , high efficiency gearing , integral break to axle
design , weight option design , driver operated differential locks ,
drive axle , non-drive axle , front steer axle , speciality and defence
axle , drum and disc brakes. It sales components to truck and bus
manufacturers of light, medium and heavy category and for
commercial and defence vehicles. It is one of the largest
manufacturer of rear drive assembly.

3.

Who are likely to be the companys major suppliers?

As the company is operating in automobile sector its suppliers also
belong to automobile sector. Companys major suppliers are Bharat
Forge ltd, Meritor Heavy System LLC., USA, Meritor Brazil, Meritor
HVS Sweden, Meritor HVS Cameri Spa Italy.

4 Who are likely to be the companys major customers? Does

the company export its products? To which countries?
As the company manufactures auto components its customers are
in auto sector and especially in bus and truck segment and its
components are used for defence and commercial purposes. The
major customers are Daimler , BEML , Ashok Leyland , Tractors India
, Mahindra , TATA Hitachi , Kamaz and Volvo. The company has no
or negligible export sales and there are no reportable geographic
segment.

5 How many employees does it have? Why is this information

important?
The company has approximately 3000 employees. It gives us
information about
if the employee strength has increased or
decreased. How it affects our resources and balance sheet. Here in
Automotive axle ltd the employee benefit expense has reduced
from 609.16 to 369.70. Staff salary, provident fund, welfare
expenses has reduced. If we know the employee strength we can
understand the reason for the reduction.

2. Annual Report

6 Read the Contents page. Mark the items that relate to

financial statements as
FS (Financial Statement) and
the rest as NFS (Non-Financial Statement). What
information does the company provide in items that you
have marked as NFS? Is this information useful? How? Who
is the intended audience? Will they be able to understand
the information? Give highlights of ANY THREE major NFS
items.
Here corporate information, report on corporate governance,
chairmans message, boards report and management discussion
and analysis are Non-Financial Statement. Here independent
auditors report, balance sheet, statement of profit and loss, cash
flow statement are Financial Statement. The company provides NFS
information like corporate social responsibility, quality policy

statement, Accountability mechanism. This information is useful

because from quality policy and accountability mechanism you can
understand the quality standard of the product and from
accountability mechanism you can know the internal working and
environment. Here the intended audience is investors who are able
to understand this information.
The first major NFS is chairmans message which talks about
economic recovery which is fragile. India is accelerating and has
achieved growth rate of 7.5%. Auto sector growth rate is 7% and it
going towards double digits. It says India is going to be the next
auto component production hub by 2021.It say companys earnings
per share is 6.98 and profit after tax is 105.42 million rupees.
Company has started operations at Jamshedpur plant. It is
constantly increasing quality standard. Its product tandem axle has
won commercial vehicle component of the year award. It talks
about reducing the carbon footprint and to create a talent driven
environment. It talk about the future opportunities through make in
india.
The second major NFS is corporate information which provides
information like who are the board of directors, key managerial
personnel, statutory auditors, internal auditors, bankers, works,
registered office, registrar and share transfer agents.
The third major NFS is corporate governance report. It talks about
the companys philosophy, board of directors, information provided
to board of directors like annual operating plan, quarterly results of
the company, minutes of the meeting of the committees. It talk
about the committees of the board like audit committee, CSR
committee. When the committee held their meetings and their
terms of references. It talks about remuneration and whistle blower
policies.

7 When was the annual general meeting to be held? What

were the items to be discussed?
The annual general meeting is to be held on 5 august 2015.
The items to be discussed are as follows
To receive, consider and adopt the audited statement of profit and
loss for the period ended on 31st march 2015 and balance sheet as
at 31st march 2015 together with report of board of directors and
auditors report.
To declare dividend on equity share for the period ended on 31st
march 2015.

To appoint director in place of Dr. N. Muthukumar who retires by

rotation and being eligible offers himself for reappointment.
To ratify the statutory auditors and to fix their remuneration.
Appointment of Ms. Sudhasri A as an independent director of the
company.

3 Financial Statements

8 Identify the companys reporting entities.

The companys reporting entities are BF investments ltd, Meritor
Heavy Vehicle Systems, LLC USA and Reliance Capital Trustee
company ltd.
9 How is the information in the notes to the financial
statements useful? Give five examples of how the notes
explain the items in the financial statement.
In balance sheet just one line of information is given. To get the
complete information we have to use notes. The breakup of
information is given in notes. The examples are as below.
Share capital as at 31st march 2015 is 151.12. In note 3 the detailed
information is given like authorised share capital and issued,
subscribed and fully paid up share capital. Details of shareholder
having more than 5 percent share is given.
Reserve and surplus as at 31st march 2015 is 2873.22. Securities
premium and its opening and closing balance, which is 115.59, is
given in note 4. Information regarding general reserve and surplus
in profit and loss statement is given in note 4.
Short term borrowing as at 31st march 2015 is 540.82. Information
like secured working capital borrowing from bank secured 440.82
and unsecured 100 is given in note 8.

Total payables as at 31st march 2015 is 1338.28 as given in balance

sheet. Note 9 says in trade payable acceptance is 108.34 and other
than acceptance is 1229.94.
Other current liabilities as at 31 st march 2015 is 125.74. Note 10
gives information about advance from customers and leave salary
payable.

10 Identify ANY THREE matters covered by the accounting

policies/estimates and write their current year ending
balances.

Matters covered by accounting policies/estimates are inventories,

cash and cash equivalents, fixed assets and depreciation, employee
benefits etc.
Cash and cash equivalents as at 31st march 2015 is 35.71million
rupees.
Inventories as at 31st march 2015 is 1158.38 million rupees.
Fixed assets as at 31st march 2015 is 1936.36 million rupees.

11 Who is/are responsible for the information in the financial

statements? Write names.
People responsible for information in financial statements are as
below.
S. GANESH (Partner)
Dr. B. N. KALYANI (Chairman)
Dr. N. MUTHUKUMAR (President and whole time director)
S. RAMKUMAR (Chief Financial Officer and Company Secretary)

12 Think of information that you think would be useful but not

disclosed in the financial statements. Why do you think the
information is not disclosed?

Here information like exports, number of employees, customers

suppliers and movement of capital work in progress are
disclosed in the report. Here information like exports is
disclosed because it is written that exports are very limited
cannot be described in any geographic location.

13 Think of information not reported in the

statements but would be available internally.

and
not
not
and

financial

Here information like exports, number of employees, customers and

suppliers and movement of capital work in progress are not
disclosed in the report. But this information would be available
internally.

4. Auditors

14 Who are the companys auditors?

Statutory auditors of the company is Deloitte Haskins and sells
(Chennai), Bangalore.
Internal auditors of the company is PriceWaterHouseCoopers Pvt.
Ltd. , Bangalore.
15 To whom is the auditors report addressed? Why?
The auditors report addressed to the members of Automotive Axle
ltd because it is the member of the company who appoints auditors
for company.

16 List the main items on which the auditors report. Give

details of three items that significantly affect the financial
statements.
Auditors
report
contain
report
on
financial
statement,
Managements responsibility for the financial statement, Auditors
responsibility, Opinion, Report on other legal and regulatory
requirements.

In other legal and regulatory requirements the auditor has said that
they have obtained all necessary information and explanation from
the company. If the information is not complete then it certainly
affects the financial statements.
The auditor has said that in their opinion the company has kept
proper books of account as required by law. If the company does
not maintain proper books of account then certainly it affects the
financial statements.
The auditor has said that balance sheet, statement of profit and
loss and cash flow statement are in agreement with the books of
account. If this material is not in agreement with books of account
then it certainly affects the financial statements.
The fixed assets and inventories were verified by the management
and explanation was given to the auditors. There were no
discrepancies found. If they find any discrepancies then it certainly
affects the financial statements.

17 How much was the auditors remuneration?

detailed breakup of the same.

Give the

The auditors remuneration was 2.65 million rupees. 1.50 million

rupees were given for statutory audit. 0.70 Million rupees were
given for other attest services. 0.45 Million rupees were given as
reimbursement of expenses.

18 Highlight the concerns raised by the auditors in their

report. Give details of such items.
Details of dues of income tax, sales tax, wealth tax, custom duty,
service tax, excise duty, vat and cess which have not been
deposited as on march 31, 2015 on account of disputes.
But no concern is raised by the auditors in their report.

4 The Statement of Profit and Loss

19 What are the companys major items of revenues? How

these items have changed in percentage terms as compared
to the previous financial year?

Companies major items of revenue is axle housing, axles, break

assemblies and others.
Axle housing revenue is decreased by 49%.
Axle revenue is decreased by 25.38%.
Break assembly revenue is decreased by 22.64%.
Others revenue is decreased by 65.18%.
20 State the revenue recognition policy of the company for
sales revenue.
Sales are recognised on dispatch and transfer of underlying risk and
rewards as per contracted terms and are recorded at invoice value,
net of sales taxes, but including excise duties.

21 Identify the sources of companys gains and other nonoperating income. What is the proportion of these items in
relation to the total income and Net Profit After Tax?
The source of companys gain and other non-operating income is
profit on sale of fixed asset, Exchange gain, and miscellaneous
income.
The proportion of these items in relation to total income is 0.036%
and net profit after tax is 1.57%.

22 Locate any references to accounting principles related to

revenues in the financial statements and related
information. Write the details of the same.
The financial statements have been prepared on accrual basis
under the historical cost convention except for categories of assets
acquired by 1st April , 2015, that are carried at revalued amounts.
And the accounting policies adopted in preparation of this financial
statements are consistent with those followed by previous year
except for depreciation.
Revenue Recognition policy is as below.
Sales: Sales are recognized on dispatch and transfer of underlying
risk and rewards as per contracted terms and are recorded at
invoice value, net of Sales Tax, but including excise duty.
Export Incentives: Export Incentives are accounted for an accrual
basis at the time of export of goods if the entitlements can be

estimated with reasonable accuracy and conditions precedents to

claim are fulfilled.

23 When does the company recognize revenue from services?

Why?
There is no revenue recognized from services. Export incentives are
accounted for on accrual basis at the time of export of goods if the
entitlements can be estimated with reasonable accuracy and
condition precedents to claim are fulfilled.

24 When does the company recognize dividend income? Why?

There is no dividend recognized.

25 What are the major items of expenses? How these items

have changed in percentage terms as compared to the
previous financial year?
Cost of material consumed, Employee benefits expense, Other
expenses are major item of expenses. Cost of material consumed
reduced by 32.91%. Employee benefits expense reduced by
39.31%. Other expense reduced by 35.05%.
26 Identify the companys losses and other non-operating
expenses. What is the proportion of these items in relation
to the total expenses and Net Profit After Tax?
The other non-operating expenses are insurances charges, legal
and professional fees, Stores and spare consumed, power and fuel
and outside processing charges.
The proportion of other non-operating expenses to total expense is
13.31%.
The proportion of other non-operating expenses to Net Profit After
Tax is 562.16%.

27 What was the total amount spent on employees? What is

the percentage change in this amount as compared to the
previous year?
Total amount spent on employees is 369.70 million rupees.
Employee benefits expense reduced by 39.31%.

28 How much did the company spend on advertising, sales

promotion and general marketing? What is the proportion of
these items in relation to the total expenses, Net Profit
After Tax and sales revenues?
No such information given regarding expense on advertising, sales
promotion, general marketing.
29 What is the absolute amount and proportion of finance
costs to the total revenues? What is the change in this
absolute amount and proportion as compared to the
previous year?
The financial cost for 2014-15 is 40.83 million rupees that is 0.08%
compared to total revenue. The finance cost is reduced by 30.02
million rupees. There is a reduction of 42.37% compared to
previous year.
30 Identify the top three weighing expense-heads in relation to
the sales revenues. What are the accounting policies
pertaining to these three heads of expenses?
The top three weighting expense-heads are as below
Cost of material consumed is 3244.39 million rupees.
Employee benefits expense are 369.70 million rupees.
Other expenses are 592.63 million rupees.
The Financial statements of the Company have been prepared in
accordance with the Generally Accepted Accounting Principles in
India (Indian GAAP) to comply with the Accounting Standards
specified under Section 133 of the Companies Act, 2013, read with
Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant
provisions of the Companies Act, 2013 (the 2013 Act)/ Companies
Act, 1956 (the 1956 Act), as applicable. The financial statements
have been prepared on accrual basis under the historical cost
convention except for certain categories of fixed assets that are
carried at re-valued amounts.

31 What is the percentage of depreciation/amortization

expense in relation to the gross block value of the fixed
assets and total expenses? What is the depreciation method
and accounting estimates involved in charging depreciation
in fixed assets?

Depreciation/amortization expense in relation to the gross block

value is 9.8%.
What is the percentage of depreciation/amortization expense in
relation to total expenses is 3.9%.
Depreciation on buildings and plant and machinery is provided
under the straight line method and on other assets under the
reducing balance method.
In case where the useful lives are technically estimated to be lower
than those considered in determining the useful lives specified in
schedule , depreciation is provided under the straight line method
over the useful lives of the assets.

6. The Balance Sheet

32 List three assets having highest proportion in the total

assets of the company. Write their percentage weight in the
total assets.
The following assets are having highest proportion in total assets.
Fixed asset: 37.17%
Inventories: 22.23%
Trade receivables: 33.67%
33 How does the company measure its fixed assets? What is
the amount of fixed assets purchased during the year? What
is its proportion in the total assets? Is this proportion
significant? Why?
Tangible fixed assets are stated at cost less accumulated
depreciation. Cost includes all costs relating to the acquisition and
installation of fixed assets including borrowing for fixed asset till
date. Expenditure on reconditioning of machinery is capitalised
where such expenditure results in increase in the future benefits
from the asset and results in extension in useful life of the asset
based on technical assessment.
Intangible fixed assets are carried at cost less accumulated
amortisation and impairment losses if any. The cost comprises its
purchase price including import duty and taxes and net of trade
discounts and rebates. Subsequent expenditure is recognised when
incurred and will enable the asset to generate future economic
benefit.

The asset purchase during the year is 284.19 million rupees. That is
5.4% of total asset and it is insignificant.
34 What is the amount of fixed assets sold/discarded during
the year? What is its proportion in the total assets? Is this
proportion significant? Why?
The amount of fixed assets sold during the year is 1.96 million
rupees. It is 0.037% of total assets which is insignificant.
35 What is amount of capital work in progress finished and
transferred to the fixed assets during the year?
The amount of capital work in progress finished and transferred to
the fixed assets during the year is 63.66 million rupees.
36 What is the proportion of Intangible assets in the total
assets of the company? How does the company measure
Intangible assets? Give two examples of the companys
intangible assets.
The proportion of Intangible assets in the total assets of the
company is 0.15%.
Software and technical know-how is intangible assets.
Intangible assets are carried at cost less accumulated amortisation
and impairment losses, if any. Its cost consist of purchase price
including import duties and taxes and discounts and rebates.
Subsequent expenditure is recognised when incurred.
37 What is the proportion of long term investments in the total
assets? What is the change in this proportion as compared
to the previous year?
There is no information provided for long term investments.

38 List three most significant investment venues. What is the

book value and market value of these investments?
There is no information provided for investments.
39 What is the proportion of Investments in Subsidiary
Companies in the total investments? Is there any change in
the amount of Investments in Subsidiary Companies in the
current year as compared to the previous year?

There is no information provided for investments in subsidiary

company.

40 What is the proportion of current assets in the total assets?

What is the change in this proportion as compared to the
previous year?
The current assets are 61.57% of the total assets. Last year the
proportion was 62.10% so there is reduction in current assets by
0.53 percentage points.

41 What is the proportion of cash in the total assets? What is

the change in this proportion as compared to the previous
year? Is there any cash in transit? How much?
Here cash is 0.68% of total assets. Last year the proportion was
0.13%. So there is 0.55 percentage point increase than previous
year.
There is no cash in transit.
42 What is the proportion of the accounts receivables in
relation to the credit sales of the company? What
percentage of the companys receivables is classified as
doubtful? What is the change in this proportion as
compared to the previous year?
Here the trade receivables are 1753.91 million rupees. 0.32% of the
companys receivables is classified as doubtful. There is an increase
of 16.66% as compared to previous year.
43 What percentage of the companys receivables is due for
more than six months? What is the change in this
proportion as compared to the previous year?
0.46% of companys receivables are due for more than six months.
Last year it was 0.67%. So there is a decrease of 0.21 percentage
point.
44 What is the proportion of Inventories in the total assets?
What is the change in this proportion as compared to the
previous year?

The proportion of inventories in total assets is 22.23%. Last year it

was 21.75%.
So there is a 0.48 percentage point increase as compared to
previous year.
45 How does company measure its Inventories? Is there any
change in the inventory measurement as compared to the
previous year? If yes, give details.
The company measure its Inventories at lower of cost and net
realisable value. There is no change in the inventory measurement
as compared to previous year.
46 What is the absolute amount and proportion in relation to
sales revenues of raw materials consumed during the year?
What is the change in such amount and proportion as
compared to the previous year?
The cost of raw material consumed is 3244.39 million rupees. That
is 63.56% of total sales revenue.
Last year the cost of raw material consumed is 4836.30 million
rupees. That is 64.31% of total sales revenue.
So there is reduction of 1591.91 million rupees in cost of materials
consumed. There is a reduction of 0.75 percentage point in
proportion in relation to sales revenues of raw materials consumed
as compared to previous year.
47 What is the amount of short term investments? What is the
percentage change in short term investments as compared
to the previous year? How does the company measure short
term investment? List three venues of short term
investments for the company?
The company has no short term investment.
48 What is the proportion of current liabilities in the total
liabilities? What is the change in this proportion as
compared to the previous year?
The proportion of current liabilities to total liabilities is 39.03%.
Last year the proportion of current liabilities to total liabilities was
39.56%.
So there is a reduction of 0.53 percentage point as compared to
previous year.

49 List three most significant current liabilities? What is the

percentage change in these three current liabilities as
compared to the previous year?
The three most significant current liabilities are
borrowings, trade payables and other current liabilities.

short-term

Short-term borrowings are reduced by 25.19%.

Trade payables are increased by 46.21%.
Other current liabilities are reduced by 65.84%.
50 What is the proportion of trade (accounts) payables in the
total liabilities? What is the change in this proportion as
compared to the previous year?
The proportion of trade (accounts) payables in the total liabilities is
25.69%.
The proportion of trade (accounts) payables in the total liabilities in
previous year was 17.42%.
So there is an increase of 8.27 percentage point in trade payables
as compared to previous year.
51 What are the companys contingent liabilities?
Companys contingent liabilities are as below.
Excise matters under appeal The Company has won the case at
Commissioner of Central excise (appeals) however the department
has appealed against this order with Customs, Excise and Service
tax Appellate Tribunal. The liability as at 31st march 2015 is 1.80.
Stamp Duty and Registration Fees: The company has been allotted
a 99 years irrevocable lease pertaining to 41.50 Acres of industrial
land at salampur, Delapur district, indore, Madhya Pradesh. The
district registrar of stamps, MP vide order dated 17 th October ,2012
has demanded stamp duty of 11.45 million rupees and registration
fees of 8.59 million rupees, aggregating to 20.04 million rupees.
The same was appealed before collector of stamps and the order
was pronounced in favour of district registrar of stamps, MP. Against
this order, Company went for further appeal and the matter is
pending for hearing.
52 What is the proportion of long term liabilities in the total
liabilities? What is the change in this proportion as

compared to the previous year? List the three

significant source of long term liability?

most

The proportion of long term liability in total liabilities is 2.9%.

The proportion of long term liability in total liabilities in previous
year was 4.41%.
So there is a reduction of 1.51 percentage point as compared to
previous year.
The three most significant long term liability are Deferred Tax, Longterm borrowings and Long-term provisions.

53 What is the proportion of share capital in the total liability?

Is there any change in the amount of share capital as
compared to the previous year? What is the source of this
change?
The proportion of share capital in the total liability is 2.90%.
There is no change in amount of share capital as compared to
previous year.
54 What is the face value of the equity share? Has the
company issued any shares for services or non-cash assets?
If yes, give details.
The face value of equity share is 10 rupees.
The company has not issued any shares for services or non-cash
assets.

55 What is the proportion of Reserves in the total liabilities?

What is the change in this proportion as compared to the
previous year?
The proportion of Reserves in the total liabilities is 55.16%.
The proportion of Reserves in the total liabilities in previous year
was 53.14%.
So there is an increase of 2.02 percentage point as compared to
previous year.
56 How much is the basic and Diluted EPS and dividend per
share?

The EPS basic and Diluted both are 6.98.

Dividend per share is 1 rupee.

7. Corporate Governance Report

57 Read carefully through this section and give details of three

most significant items mentioned therein
The three most significant items mentioned in corporate
governance report are audit committee, remuneration policy,
corporate social responsibility committee, general shareholder
information.
The audit committee gives information about the members of
committee. How the committee is constituted. The responsibility of
the committee is to oversee the quality and integrity of the
accounting, auditing and reporting practises of the company and its
compliances with the legal and regulatory requirements. It tells
about the number of meetings held and the number of members
present in the meeting.
The remuneration policy talks about how directors, executives and
other employees are remunerated in the company. It also gives
information about employee stock option.
The CSR committee formulates the CSR policy. It suggests the
amount to be spend on CSR activities. It also reviews CSR policy
time to time.

8. Business Responsivity Report

58 Read carefully through this section and give details of three

most significant items mentioned therein
The three most significant items
Responsivity Report are as below.

mentioned

in

Business

In preparation of the annual accounts, the applicable accounting

standards have been followed along with proper explanation
relating to material departures.

The company has selected such accounting policies and applied

them consistently and made judgements and estimates that are
reasonable and prudent so as to give a true and fair view of the
state of affairs of the Company at the end of the financial year and
of profit and loss of the company for that period.
The company has taken sufficient care for the maintenance of
adequate accounting records in accordance with the provision of
this act for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities.
The company has prepared the annual accounts on going concern
basis.
The company has laid down internal financial control to be followed
by the company and that such internal financial controls are
adequate and were operating effectively.
The company has devised proper systems to ensure compliance
with the provisions of all applicable laws and that such systems are
adequate and operating effectively.

9. Corporate Social Responsibility Report

59 Read carefully through this section and give details of three

most significant items mentioned therein
The three most significant items mentioned in CSR report are as
follows
The company is working with the simple objective of improving the
community at vicinity of the company. The initiative is aimed at
improving a lot for needy, deprived and marginalise section of the
society including women and children as well as the overall welfare
of the community and make a difference in living standard so that
they can be integral part of growth and development.
The prescribed expenditure for CSR activities is 4.72 million rupees.

The company is in the process of identifying vocational training

centre in mysuru to enhance vocational skills for the betterment of
livelihood of people in and around mysuru and also for the local
area development activities in association with CII.

10. Management Discussion and Analysis (MDA)

60 Read carefully through this section and give details of three

most significant items mentioned therein
The Management Discussion and Analysis talks about Make In India
initiative, Green Manufacturing, Automotive industry in india, Auto
Component industry in india, Infrastructure of the company,
environment.
The make in india initiative aims at 12 to 14 percent annual growth
in manufacturing, increasing manufacturings share in indias GDP
from 16 to 25 percent by 2022 and to create 100 million additional
job by 2022.
The green manufacturing is implemented to reduce the carbon
footprint.
Government provides subsidies for green manufacturing. It talks
about waste analysis and recycling.
The automotive industry is a major driver of the economy
contributing 7% of indias GDP. It employs 19 million people in india.
India serves as the outsourcing hub for automobile manufacturing.
The exports increased by 14.89%.
The company is committed to improve and maintain our
environment in all areas to provide safe and health workplace.
There is also an environmental management policy. The company
use solar powered system, solar heaters, LED lamps, inverter
drives. Emission test were carried out for all employees.