1NZ15MBA81

A Project Report on
AN ANALYSIS ON CASH MANAGEMENT FOR MAJESTIC POLYMERS
BY
RAMYA V
USN: 1NZ15MBA81
Submitted to
DEPARTMENT OF MANAGEMENT STUDIES

NEW HORIZON COLLEGE OF ENGINEERING,
OUTER RING ROAD, MARATHALLI,
BANGALORE
In partial fulfillment of the requirements for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION

Under the guidance of
INTERNAL GUIDE EXTERNAL GUIDE

Prof. TEJAS B VYAS Mr. GK RAJAN BABU
ASSISTANT PROFESSOR CO-FOUNDER & CEO
NHCE
BATCH: 2015-2017
CERTIFICATE
This is to certify that RAMYA V bearing USN 1NZ15MBA81, is a bonafide student of Master
of Business Administration course of the Institute 2015-2017, autonomous program, affiliated to
Visvesvaraya Technological University, Belgaum. Internship report on “AN ANALYSIS ON
CASH MANAGEMENT FOR MAJESTIC POLYMERS” is prepared by her under the
guidance of Mr GK RAJAN BABU, in partial fulfillment of requirements for the award of the
degree of Master of Business Administration of Visvesvaraya Technological University,
Belgaum, Karnataka.
Signature of Internal Guide Signature of HOD Signature of Principal

DECLARATION
I, RAMYA V, hereby declare that the Internship report entitled “An analysis on cash
management for majestic polymers” with reference to “MAJESTIC POLYMERS, Bangalore”
prepared by me under the guidance of Prof. Tejas B Vyas, faculty of M.B.A Department, New
Horizon College of Engineering and external assistance by Mr. GK Rajan Babu, CEO and Co-
founder of MAJESTIC POLYMERS. I also declare that this Internship work is towards the
partial fulfillment of the university regulations for the award of the degree of Master of Business
Administration by Visvesvaraya Technological University, Belgaum.
I have undergone a summer project for a period of sixteen weeks. I further declare that this
project is based on the original study undertaken by me and has not been submitted for the award
of a degree/diploma from any other University / Institution.
Signature of Student
Place:
Date
ACKNOWLEDGEMENT
I express my deep sense of gratitude to chairman MR. MOHAN MANGHNANI and

Principal DR. MANJUNATHA, New Horizon College Of Engineering, for giving the
oppourtunity of being the part of this institution and for generous help to complete the
project.
I am extremely thankful and pay my gratitude to head of the department DR. SHEELAN
MISHRA for her valuable guidance and support on completion of this project in its presently.
I express my special thanks to my internal guide PROF.TEJAS B VYAS, faculty

member for her valuable guidance, support, motivation and inspirations at every stage
throughout the period of my project work.
I would like to thank Mr. GK RAJAN BABU (CEO and Co-founder) and the Management
staff of the Majestic Polymers, Bangalore for giving me opportunity to conduct to study
and to be associated with the company.
Finally, I wish to thank my Parents, Friends and to all who helped me in the
successful completion of this project.
RAMYA V
USN NO: 1NZ15MBA81

CONTENT
CHAPTER TITLE PAGE NO.
NO.
1. INTRODUCTION 01-09
2. INDUSTRY AND COMPANY PROFILE 10-25
3. THEORETICAL BACKGROUND OF THE 26-36

STUDY
4. DATA ANALYSIS AND INTERPRETATION 37-62
5. FINDING, SUGGESTION AND CONCLUSION 63-67
BIBLIOGRAPHY 68
ANNEXURE 69-72
List of Tables
Table No. Particulars Page Nos.
Table – 4.5.1 Table showing gender of the Respondents. 46
Table – 4.5.2 Table showing choice of Industry for our 47

company.
Table – 4.5.3 Table showing business having interntional 48

operations.
Table – 4.5.4 Table showing revenue expections for 49

2017.
Table – 4.5.5 Table showing following actions among 50-51
our company’s top priorities.
Table – 4.5.6 Table showing following actions among 52

our company’s top priorities.
Table – 4.5.7 Table showing expected barriers to 53
business growth.
Table – 4.5.8 Table showing company’s overall financial 54-55
performance.
Table – 4.5.9 Table showing change in number of cash 56

management providers.
Table – 4.5.10 Table showing re-evaluated your 57
relationships with the cash
managers by issuing an RFP.
.
Table – 4.5.11 Table showing handling of cash 58
management issues.
Table – 4.5.12 Table showing issues quickly being 59
resolved.
Table – 4.5.13 Table showing satisfaction attained by the 60
level of service.
Table – 4.5.14 Table showing level of service being 61

provided by the cash management
coordinator.
Table – 4.5.15 Table showing SEPA as a non-event due to 62

economic recession.
List of Graph
Graph No. Particulars Page Nos.
Graph – 4.5.1 Graph showing gender of the Respondents. 46
Graph – 4.5.2 Graph showing choice of Industry for our company. 47
Graph – 4.5.3 Graph showing showing business having interntional 48

operations.
Graph – 4.5.4 Graph showing revenue expections for 2017. 49
Graph – 4.5.5 Graph showing following actions among our company’s top 50-51
priorities.
Graph – 4.5.6 Graph showing following actions among our company’s top 52
priorities.
Graph – 4.5.7 Graph showing expected barriers to business growth. 53
Graph – 4.5.8 Graph showing company’s overall financial performance. 54-55
Graph – 4.5.9 Graph showing change in number of cash management 56

providers.
Graph – 4.5.10 Graph showing re-evaluated your relationships with the cash 57
managers by issuing an RFP.
Graph – 4.5.11 Graph showing handling of cash management issues. 58
Graph – 4.5.12 Graph showing issues quickly being resolved. 59
Graph – 4.5.13 Graph showing satisfaction attained by the level of service. 60
Graph – 4.5.14 Graph showing level of service being provided by the cash 61
management coordinator.
Graph – 4.5.15 Graph SEPA as a non-event due to economic recession. 62

EXECUTIVE SUMMERY:
Polymeric materials, generally in the form of rubber, plastic and composites, are well accepted
in diverse industrial sectors based on their proven performance. Polymers are chosen for use as
parts or system components due to their inherent resistance to corrosion, mechanical strength,
relative light weight, elasticity, long life and other broad ranging properties. Since polymers do
not degrade due to electrochemically induced corrosion, they are often selected as the material of
choice in lieu of metals. For a part or system to function properly over its intended service life,
careful consideration must be given too many perational variables. These include issues relating
to the environment in which the
material will operate, static and dynamic physical stresses during the operation of the system,
and functionality, including operator friendliness. Selection of the proper polymer for the
required use cannot be based on a simple process of matching textbook data to a drawing of the
part. To the contrary, proper specification development for the most suitable polymer for original
and replacement parts require the input of professionals that understand how different materials
will perform in actual field use. Industry experience has proven that when such applications and
expertise is combined with readily available scientific information, a part or system can be
designed that serves the customers’ operational needs with the greatest return on investment
(ROI).
Most industrial equipment already uses polymers for a variety of their parts. Further, some
manufacturers and facility operators have certain internal expertise in general, and specifically to
use of certain polymers. However, by having ready access to “hands on” polymer application
specialists, manufacturers and asset operators could dramatically expand the useful service lives
of many of its parts and systems. In short, customers would ubstantially increase their ROI on
their initial and replacement parts and systems by making use of polymer application experts.
The Philpott Rubber Company has been dedicated to identifying and solving asset owners’
material selection challenges for 125years. Philpott employs a dedicated team of application
specialists with many years of experience in applying plastic, rubber and composite material
solutions to industrial facilities. These have involved such specialty applications as resolving
material handling and safety issues at steel mills, toproviding a patent pending design for a toilet
tank-to-toilet bowl composite plastic/steel fastener system; from designing specialized gaskets
for anode and cathode membrane cells chlor-alkali generation equipment, to a rear windscreen
for the Pontiac Solstice convertible automobile. In short, Philpott’s breadth of application
experience is without boundaries. Most of the industrial applications and environments with
which Philpott has experience that matches what the customer faces in its daily facilities and
systems operations. The balance of this document will outline specific areas of Philpott’s
expertise and qualifications to assist the customer in his or her material selection activities.As an
industry leader in providing practical solutions to the design, material selection and production of
rubber, plastic and polymer parts and systems, Philpott is in a unique position to provide
customers substantial expertise in the area of practical polymer applications thus strengthening
customers’ ROI.
CHAPTER-1
1.1 INTRODUCTION:
Cash is the important current asset for the operations of the business. Cash is the basic input
needed to keep the business running on a continuous basis; it is also the ultimate output
expected to be realized by selling the service or product manufactured by the firm. The firm
should keep sufficient cash, neither more nor less. Cash shortage will disrupt the firm‘s
manufacturing operations while excessive cash will simply remain idle, without contributing
anything towards the firm‘s profitability. Thus, a major function of the financial manager is
to maintain a sound cash position.
Cash is the money which a firm can disburse immediately without any restriction. The term
cash includes coins, currency and cheques held by the firm, and balances in its bank accounts.
Sometimes near-cash items, such as marketable securities or bank times deposits, are also
included in cash. The basic characteristic of near-cash assets is that they can readily be
converted into cash. Generally, when a firm has excess cash, it invests it in marketable
securities. This kind of investment contributes some profit to the firm.
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1.2 NEED FOR THE STUDY
The importance of Cash management in any industrial concern cannot be overstressed. Under
the present inflationary condition, management of Cash is perhaps more important than even
management of profit and this requires greatest attention and efforts of the finance manager.
It needs vigilant attention as each of its components require different types of treatment and it
throws constant attention on exercise of skill and judgment, awareness of economic trend etc,
due to urgency and complicacy the vital importance of Cash.
The anti-inflationary measure taken up by the Government, creating a tight money condition
has placed working capital in the most challenging zone of management and it requires a
unique skill for its management. Today, the problem of managing Cash has got the
recognition of separate entity, so its study and management is of major importance to both
internal and external analyst to judge the current position of the business concerns. Hence, the
present study entitled ―An Analysis on Cash Management” has been taken up.
1.3 OBJECTIVES OF MAJESTIC POLYMERS
 Primary Objective:
• To analyze the cash management of Standard Polymers.
 Secondary Objective:
• To find out the liquidity position of the concern through ratio analysis.
• To study the growth of standard polymers in terms of cash flow statement.
• To make suggestion and recommendation to improve the cash position of standard
polymers.
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1.4 Scope of the Study
o It helps to take short term financial decision.

o It indicates the cash requirement needed for plant or equipment
expansion program.
o To find strategies for efficient management of cash.
o It helps to arrange needed funds on the most favorable terms.
o It helps to meet routine cash requirement to finance the transaction.
o It reveals the liquidity position of the firm by highlighting the various
sources of cash and its uses.
1.5 METHODOLOGY ADOPTED
Research is a process in which the researchers wish to find out the end result for a given
problem and thus the solution helps in future course of action. The research has been defined
as ―A careful investigation or enquiry especially through search for new facts in branch of
knowledge‖
1.5.2 Research Design

The research design used in this project is Analytical in nature the procedure using, which
researcher has to use facts or information already available, and analyze these to make a
critical evaluation of the performance.
1.5.3 Data Collection
 Primary Sources
1. Data are collected through personal interviews and discussion with Finance-
Executive.
2. Data are collected through personal interviews and discussion with Material
Planning- Deputy Manager.
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 Secondary Sources
1. From the annual reports maintained by the company.
2. Data are collected from the company‘s website.
3. Books and journals pertaining to the topic.
1.5.4 Tools used in the Analysis

 Cash flow statement.
 Trend analysis.
 Ratio analysis.
1.6 LITERATURE REVIEW
Youcef Ghernouti et al: The study present the partial replacement of fine aggregate in
concrete by using plastic fine aggregate obtained from the crushing of waste plastic bags.
Plastic bags waste was heated followed by cooling of liquid waste which was then cooled and
crushed to obtained plastic sand having finesse modulus of 4.7. Fine aggregate in the mix
proportion of concrete was replaced with plastic bag waste sand at 10%, 20%, 30% and 40%
whereas other concrete materials remain same for all four mixes. In fresh properties of
concrete it was observed from the results of slump test that with increase of waste content
workability of concrete increases which is favourable for concrete because plastic cannot
absorb water therefore excessive water is available. Bulk density decreases with increase of
plastic bags waste. In harden state, flexural and compressive strength were tested at 28 days
and reductions in both strengths with increasing percentage of plastic bag waste sand in
concrete mix. Plastic waste increases the volume of voids in concrete which on other hand
reduce the compactness of concrete simultaneously speed of sound in concrete is also
decreased. Strength reduction in concrete mix was prime concern; however they recommend
10 to 20% replacement of fine aggregate with plastic aggregate. Use of admixtures to address
the strength reduction property of concrete with addition of plastic aggregate is not
emphasized.
4|Page
Raghatate Atul M. The paper is based on experimental results of concrete sample casted
with use of plastic bags pieces to study the compressive and split tensile strength. He used
concrete mix by using Ordinary Portland Cement, Natural River sand as fine aggregate and
crushed granite stones as coarse aggregate, portable water free from impurities and
containing varying percentage of waste plastic bags (0%, 0.2%, 0.4%, 0.6% 0.8% and 1.0%).
Compressive strength of concrete specimen is affected by the addition of plastic bags and
with increasing percentage of plastic bag pieces compressive strength goes on decreasing
(20% decrease in compressive strength with 1% of addition of plastic bag pieces). On other
hand increase in tensile strength of concrete was observed by adding up to 0.8% of plastic
bag pieces in the concrete mix afterward it start decreasing when adding more than 0.8% of
plastic bags pieces.
He concluded that utility of plastic bags pieces can be used for possible increase in split
tensile strength. This is just a basic study on use of plastic bags in concrete. More emphasis
was required by varying the shape and sizes of plastic bags to be use in concrete mixes.
Praveen Mathew et al. [2013] They have investigated the suitability of recycled plastic as
partial replacement to coarse aggregate in concrete mix to study effect on compressive
strength, modulus of elasticity, split tensile strength and flexural strength properties of
concrete. Coarse aggregate from plastic was obtained by heating the plastic pieces at required
temperature and crushed to required size of aggregate after cooling. Their experimental
results shown that plastic aggregate have low crushing (2.0 as compare to 28 for Natural
aggregate), low specific gravity(0.9 as compare to 2.74 for Natural aggregate), and density
value(0.81 as compare to 3.14 for Natural aggregate), as compare to Natural coarse
aggregate. Their test results were based on 20% substitution of natural coarse aggregate with
plastic aggregate. Increase in workability was reported when slump test for sample was
carried out. Volumetric substitution of natural aggregate with plastic aggregate was selected
best in comparison with grade substitution. At 400 centigrade temperature Plastic coarse
aggregate shown considerable decrease in strength as compare to normal concrete. An
increase of 28% was observed in compressive strength but decrease in split tensile strength
and modulus of elasticity was observed. They recommended that with use of suitable
admixture @0.4% by weight of cement will improve the bonding between matrix and plastic
aggregate; however they demand more research to address the tensile behaviour of concrete
prepared with 20% plastic aggregate.
5|Page
R L Ramesh et al. They have used waste plastic of low density poly ethylene as replacement
to coarse aggregate to determine its viable application in construction industry and to study
the behaviour of fresh and harden concrete properties. Different concrete mix were prepared
with varying proportions (0%, 20%, 30% & 40%) of recycle plastic aggregate obtained by
heat treatment of plastic waste (160-200 centigrade) in plastic granular recycling machine. A
concrete mix design with 1: 1.5: 3 proportions was used having 0.5 water/cement ratio having
varying proportion of plastic aggregate as replacement of crushed stone. Proper mixing was
ensured and homogeneous mixture was prepared. A clear reduction in compressive strength
was reported with increase in percentage of replacing plastic aggregate with crushed
aggregate at 7, 14 and 28 days of casted cubes (80% strength achieved by replacing waste
plastic up to 30%). The research highlights the potential application of plastic aggregate in
light weight aggregate. Their research was narrowed down to compressive strength of
concrete with no emphasis given to flexural properties of concrete. They suggest future
research scope on plastic aggregate with regard to its split tensile strength to ascertain its
tensile behaviour and its durability aspects for beams and columns.
Zainab Z. Ismail et al. [2007] they have conducted comprehensive study based on large
number of experiments and tests in order to determine the feasibility of reusing plastic sand
as partial replacement of fine aggregate in concrete. They conducted tests on concrete
samples for dry/fresh density, slump, compressive and flexural strength and finally toughness
indices on room temperature They have collected waste plastic from plastic manufacture
plant consist of 80% polyethylene and 20% polystyrene which was crushed (varying length
of 0.15-12mm and width of 0.15-4mm). Concrete mix were produce with ordinary Portland
cement, fine aggregate (natural sand of 4.74mm maximum size), coarse aggregate (max size
below 20mm) and addition of 10%, 15% and 20% of plastic waste as sand replacement. Their
test results indicate sharp decrease in slump with increasing the percentage of plastic, this
decrease was attributed to the presence of angular and non uniform plastic particles. In spite
of low slump however, the mixture was observed with good workability and declared suitable
for application. Their tests also revealed the decrease in fresh and dry density with increasing
the plastic waste ratio; however increase was reported in dry density with time at all curing
ages. Decrease in compressive and flexural strength was observed by increasing the waste
plastic ratio which can be related to decrease in adhesive strength between plastic waste
particles with cement. However, load-deflection curve of concrete containing plastic waste
showed the arrest of propagation of micro cracks which shows its application in places where
6|Page
high toughness is required. The study has shown good workability in spite of low slump but
w/c content kept constant in all samples. They should have reduced the water content in order
to improve the strength when workability was not an issue.
P. Suganthy et al.[2013] This study investigate the application of pulverized fine crushed
plastic (produce from melting and crushing of high density polyethylene) as replacement of
fine aggregate in concrete with varying known percentages. Their main focus was on
optimum replacement of natural sand by pulverized plastic sand. Five concrete mixes were
produced from specified concrete materials having replacement of fine aggregate (sand) by 0,
25, 50, 75 and 100% respectively to study the test graph results of various concrete
properties. The results showed increase in water/cement ratio with increase replacement of
sand with plastic particles to achieve desired 90mm concrete slump. They have also observed
from the results that gradual decrease in strength of concrete specimen for plastic
replacement up to 25% but afterward the decrease in strength is rapid which shows suitable
replacement up to 25% of sand with plastic pulverized sand. They have also concluded after
testing of specimen (having different proportion of plastic replacement) for Ultimate and
yield strength that both strength decreases with increase replacement of sand with pulverized
plastic particles. Their study lacks detailed testing of properties of concrete because only
compressive strength and w/c ratio tests will not be sufficient to study the matrix as a whole
to be suitable for construction. No efforts were made to explore the use of admixtures in
controlling of compressive strength reduction in a mix containing pulverized plastics.
Khilesh Sarwe.[2014] This study presents the results of addition of waste plastics along with
steel fibers with an objective to seek maximum use of waste plastic in concrete. Two different
categories of mix were casted in cubes (150mm x 150mm x 150mm), one with varying
percentages of plastic wastes (0.2%, 0.4%, 0.6%, 0.8% and 1% weight of cement) and
another mix of plastics waste/steel fibers (0.2/0.1, 0.4/0.2, 0.6/0.3, 0.8/0.4 and 1/0.5 % by
weight of cement) to study the compressive strength at 7 and 28 days strength. The combine
mix of plastic waste and steel fibers has shown more strength as compare to concrete mix
prep only with plastic waste. He has reached to conclusion that a plastic waste of 0.6%
weight of cement when used with steel fiber of 0.3 % (weight of cement) has shown the
maximum compressive strength. This study has really focused on addressing the issue of
reduced compressive strength with addition of plastic waste. Steel fibers when used along
with plastic wastes will affect all the properties of concrete but the researcher only focused on
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compressive strength property which is insufficient to give clear picture of concrete

behaviour.
A Bhogayata et al. [2012] they have studied the environment friendly disposal of shredded
plastic bags in concrete mix to be use in construction industry which have dire need for
alternative material to be use in lieu of conventional materials. Different test results were
analyzed after testing on 48 x concrete cubes(150mm x 150mm x150mm) prepared from
varying percentage of polyethylene fibers (0.3, 0.6, and 0.9 to 1.2% of volume of concrete)
with conventional concrete material to prepare mixes. Two type of plastic bag fibers were
used, one cut manually (60mm x 3mm) and another shredded into a very fine random
palettes. Cubes were tested for 7&28 days compressive strength and compaction. They
concluded that good workability was shown by the mix added with shredded fibers due to its
uniform and higher aspect ratio evenly sprayed in the mix. Addition of plastics up to 0.6% is
considered suitable after which reduction in compressive strength and compaction is seen
affected. They observed that strength loss was less in concrete having shredded fibers of
plastic as compare to hand cut macro fibers. Their research focus was only on comparative
study of compressive strength but no work was carries out on other concrete properties like
tensile strength, modulus of elasticity and density of concrete.
M. Elzafraney et al. [2005] this study has incorporated use of recycled plastic aggregate in
concrete material for a building to work out its performance with regards to thermal attributes
and efficient energy performance in comparison with normal aggregate concrete. The plastic
content concrete was prepared from refined high recycled plastics to meet various
requirement of building construction like strength, workability and finish ability etc. Both
buildings were subject to long and short term monitoring in order to determine their energy
efficiencies and level of comfort. It was observed that recycled plastic concrete building
having good insulation used 8% less energy in comparison of normal concrete; however
saving in energy was more profound in cold climate in building with lower insulation. They
recommended that efficiency of energy can further be increase if recycle plastic of high
thermal capacity is used. They have suggested the use of recycle plastic aggregate concrete
being economical and light weights are having high resistance to heat. The author should also
incorporate the comparison of both buildings with regards to durability and strength.
8|Page
Pramod S. Patil.et al: This study presents the use of plastic recycled aggregate as
replacement of coarse aggregate for production of concrete. They used forty eight specimen
and six beams/cylinders casted from variable plastic percentages (0, 10, 20, 30, 40 and 50%)
used as replacement of coarse aggregate in concrete mixes. They have conducted various
tests and observed decrease in density of concrete with increase percentage of replacement of
aggregate with recycle plastic concrete. They also reported decrease in compressive strength
for 7 and 28 days with increase in percentage of replacement of coarse aggregate with recycle
plastic aggregate. They have recommended feasibility of replacing 20 % will satisfy the
permissible limits of strength. Again these researchers limited their research to only
compressive strength property and no work was carried out to study the other important
properties of concrete. Their research also lacks use of various admixtures in concrete to cater
for the loss in strength.
1.7 LIMITATION OF STUDY

 The study is restricted only to MAJESTIC POLYMERS. Being a case study, the
findings cannot be generalized.
 The study does not take into account the inflation.
 The study takes into account only the quantitative data and the qualitative aspects
were not taken into account.
9|Page
CHAPTER - 2
2.1Industry profile:
An ISO 9001:2008 certified Company, Majestic Polymers was established in 2002 with the
vision to be leader in Plastic Moulds, Plastic moulded parts & Assemblies by maintaining
highest levels of productivity, quality and customers satisfaction.
Strategically located at Bommasandra Industrial Estate, in Bangalore, we cater to different

industrial and commercial segments such as Automobile, Home Appliances, Electrical &
Electronics, Health Care etc.
Manufactured and designed as per the specific requirements of the customers, we continually
strive to meet the dynamic demands of the market. We offer a wide variety of miscellaneous
plastic components for varied industrial use.
2.2 Vision:
To be leader in providing Quality Products in a cost effective manner enhancing Competitive

advantage for our Customer.
2.3 Mission:
To partner our clients to create a competitive edge by providing the best talent and
valued goods thereby enabling them to focus on their core business.
2.4 Products/Services profile areas of operation:
 Automotives
 Electricals
 Home Appliances
 Healthcare
 Electronics
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2.5 Infrastructure facilities:
2.5.1 Physical space infrastructure
 Ergonomic furniture to seat and tables to work on.

 Enough space has been allocated to stand up and draw on boards.
 Enough space for various offices for administration, finance, support
services, and marketing services according to their specifications.
 Enough facilities for basic needs like toilets, eating, drinking, etc.
 Facilities like lighting, air-conditioning, heating, etc has been provided.
2.5.2 Security Infrastructure
 CCTV surveillance for better security of our equipment as well as you

vital data within our premises and elsewhere, if installed.
 Regular backup of our data, our server, and other virtual software
exchanges professional and personal data.
2.5.3 Network Infrastructure
 We use CAT6 for network cables.

 We use vLan for secured network traffic.
 We use Giga speed switched network of 100+ nodes and so forth for
best performance.
2.5.4 Machineries available

 Injection molding machines of capacity - 90 to 450 tons (Total No. Of
Machines - 7).
 Can mold components from - 2 grams to 1250 grams.
 Resin consumption - over 40 MT/ Month.
 Have qualified tool makers for maintenance of molds and tooling's.
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2.6 Competitors’ information:
There are many companies which do the same process like this company. Some of the
competitor's in Bangalore are :
 Scorpion Industrial Polymers Pvt. Ltd
 Alpha Polymers Teck Pvt. Ltd.
 Formulated Polymers Ltd.
There are many companies but as an example I am taking only four companies here, Let's see
about each company in brief.
 Scorpion Industrial Polymers Pvt. Ltd:

Scorpion Industrial Polymers Pvt. Ltd., Chennai, India is a dynamic company
professionally managed by Mr.T.S.Kumar, who has 35 years of expertise in the field
of Rubber Products Manufacturing . The company which was started in the year 1975
as a Proprietorship company, became a partnership company in the year 1978 and
grown to be a Private Limited Company in the year 1990 due to sincere and dedicated
work.
We at, Scorpion Industrial Polymers Pvt. Ltd, always strive to produce the highest
quality rubber products using the best suitable raw materials and manufacturing
techniques to meet customers quality requirements.
In the process of continuous development of our Quality Standard, we have accredited

with ISO 9001:2008 Certification by BSCIC quality certifications company. We
produce wide range of Rubber Molded Components such as 'O' Rings, Washers,
Gaskets, Rings, Bushes, Boots, Diaphragms, Grommets, Value Seating , 'V' Rings,
Tile Moulds etc.,
We Produce custom built precession rubber components as per the Clients‘ drawings
and specifications. We have complete in-house facility with necessary machinery,
technology, manpower and testing equipments to meet the highest manufacturing
standards. We export our products to U.K, Germany and gulf countries.
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 Alpha Polymers Teck Pvt. Ltd:

We ―Alpha Polymers Teck Private Limited‖ are one of the eminent manufacturers and
wholesalers of wide range of plastic bottles, plastic storage containers, plastic jar
containers and more. Designed as per the international quality standards, the wide
spectrum of our products also include Plastic cans, Plastic Jerry Cans, Plastic Jars,
Rectangular Plastic container, Plastic Tubes, Plastic Caps, Carry Handle Round
Plastic Caps and more.
Our superior product quality, higher functional efficiency & cost-effectiveness have
acquired the trust, support and assurance of our clients that have, in turn, become the
momentum for our growth. Our range of products are fabricated from quality material
that we procure from the reliable vendors of the industries. Leveraging on constant
efforts of our professional team as well as advanced infrastructure, we are able to
carve a niche for ourselves in the industry. Our skilled work force maintain high
levels of quality by making each product to undergo strict quality checks at all stages
of production.
 Formulated Polymers Ltd.:
FORMULATED POLYMERS LIMITED, the professionally managed company

established in 1993 with an objective to design and manufacture a comprehensive
range of Thermoplastic Compounds, specializes in Engineering Plastics under the
brand name FORMPOLY®.
Over the years, FPL has established over 400 grades in 10 engineering polymers,
mostly focusing on niche compounds. FPL has approvals from various OEMs
serving large sectors of industries with an international product reach.
FPL through technical collaboration with Euro star Engineering Plastics, France
Offers a range of Flame Retardant Compounds with UL Certification(More than 120
grades)
FPL is powered by cutting-edge expertise paving its way to cost-effective

manufacturing and has grown into a mammoth figure in the industry with a wide-
spread reach.
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2.7 SWOT Analysis:
Strengths:
 The Expertise knowledge of the consultants in the respective field is the strength
of the industry. Every person will be knowledgeable in his own way.
 Specialized approach in every field has lead to increase in the demand for the
consultants in which they are specialized.
 The long presence of consulting activity in t he world has created a trust in the minds
of the people who ask for an advice. Ability to provide solutions to face the
Recession.
Weaknesses:
 Wrong person choosing a wrong field to start consulting services. There are few, who
choose wrong field as their career. This makes the consulting services as weaker,
losing the hopes of the clients.
 Dependent on the economic situations. Mainly the IT, Management, HR, Engineering, Marketing
and Real Estate Consulting depend upon the economic conditions/situations.
Opportunities:
 At present time, the recovery stage of the global economy creates an immense opportunities to the
consulting services. The services like Management, Marketing, engineering, etc will get a boost
now.
 For Manufacturing Company, especially in countries like India & China, where the
population is high, the opportunities are vast to meet its clients requirement at low
cost.
 The globalization gives further opportunities to the consulting services by formation
of huge number of companies.
 Lack of knowledge of the people will be an opportunity for the consultant to provide
his service.
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Threats:
 Global competition has become a threat for the domestic players. As globalization increases the
opportunities, the global players threat the domestic and local players.
 Recession is another threat for the consulting industry. When it comes to HR Consulting, the
recession has shrunk the industry by 20% in the past year.
2.8 Future growth and prospects:
 Business Strategy:
1. Scale and scope for a consolidating telecommunications
industry.
2. Innovation leader delivering comprehensive portfolio of
products, services and solutions.
3. Unique position to compete effectively against competition.
 Business Plan:
1. Double digit operating margin in the first year.
2. Drive savings and target.
3. Regulatory and reporting compliance.
4. Talent retention.
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2.9 Financial statement:

Income Statement:
The group reported a net income (attributable to owners of the parent) of 265.2
million for 2014,which represented 2.9% of group revenues. The normalized
net income before unusual, abnormal and infrequent items (net of tax) for the
period was 438 million, representing 4.8% of 2014 group revenues.
(In Million) 12 % 12 months % Margin

months Margin ended
ended
Operating margin 701.9 7.8% 645.2 7.5%
Other operating income/(expenses) (261.6) (228.5)
Operating Income 440.3% 4.9% 416.7% 4.8%
Net financial income/(expenses) (51.6) (62.7)
Tax Charges (104.1) (95.9)
Non- Controlling interests and (19.4) (3.5)
associates
Net income attributable to owners 265.2 2.9% 261.6 3.0%
of the parent
Normalized net income – 438.0 4.8% 415.3 4.8%
Attributable to owners of the parent
(*)
Operating margin:
Income and expenses are presented in the Consolidated Income Statement by nature to reflect
the specificities of the Group‘s business more accurately. Below the line item presenting
revenues, ordinary operating expenses are broken down into staff expenses and other
operating expenses.
These two items together are deducted from revenues to obtain operating margin, one of the
main Group business performance indicators.
Operating margin represents the underlying operational performance of the on - going
business and is analyzed in detail in the Operational Review.
16 | P a g e
Other operating income and expenses:
Other operating income and expenses relate to income and expenses that are unusual,
abnormal and infrequent and represented a net expense of € 261.6 million in 2014. The
following table presents this amount by nature:
(In Million) 12 months ended Dec 2014 12 months ended Dec 2013
Staff Reorganization (129.9) (102.2)
Rationalization and (25.9) (37.3)
associated costs
Integration and acquisition (15.4) (19.9)
costs
Amortization of intangible (50.7) (44.3)
assets (PPA from acquisition)
Other items (39.7) (24.8)
Total (261.6) (228.5)
The 129.9 million staff reorganization expense was mainly the consequence of:
 The adaptation of the group workforce in several countries such as Germany,
Benelux & The Nordics and Iberia.
 A specific plan in Germany for the Frankfurt location closed further to the
termination of the Application Management contract with Dresdner Bank
acquired by Commerz bank
 The streamlining of middle management layers, including Global Structures.
 The restructuring initiated on Bull G&A as part of plan to generate the cost
synergies.
The 25.9 million rationalization and associated costs primarily resulted from the closing of
office premises linked to the reorganization plans, and consolidation of data-centers, mainly
in Germany and Benelux & The Nordics. The integration and acquisition costs amounting
to 15.4 million represented mainly the migration and the standardization of internal IT
platforms from acquired companies.
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The 2014 amortization of intangible assets recognized in the purchase price allocation (PPA)
of acquisitions of 50.7 million was mainly composed of the 45.3 million SIS customer
Relationships amortized over 8.75 years starting July 1st, 2011 and the 5.3 million Bull
Customer Relationships and Patents amortized over 9.3 years for customer relationships and
9.9 years for the contents starting September 1st, 2014.
The other items increased by 14.9 million, representing 39.7 million. After restatement of the
gain resulting from the sale of fixed assets for 18.9 million recorded in 2013 in Belgium, the
other items were slightly lower compared to 2013.
Net Financial expense:

Net financial expense amounted to 51.6 million for the period (compared to 62.7 million last
year) and was composed of a net cost of financial debts for 15.3 million and non-operational
financial costs for 36.3 million. Net cost of financial debt was 15.3 million (Compared to
30.9 million in 2013) and resulted from the following elements:
 The average gross borrowing of 651.0 million compared to 807.5 million in

2013 bearing an average expense rate of 3.86% compared to 4.81% last year.
Excluding the accelerated amortization of fees due to the early termination of
both Atos and Bull Syndicated loans, the effective interest rate on gross
borrowing was 3.28%.
The average gross borrowing expenses were mainly explained by:

 The used portion of the syndicated loan for an average of 494.4 million
bearing an effective interest rate of 3.37% (2.60% excluding on off
amortization of fees due to early termination of both Atos and Bull
syndicated loans).
 Other sources of financing, including securitization, for an average of
156.6 million, bearing an effective interest rate of 5.43%.
 And the average gross cash increased from 947.3 million in 2013 to 1,057.9
million in 2014 bearing an average income rate of 0.93% compared to 0.84%
in 2013.
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Non-operational financial costs amounted to 36.3 million compared tp 31.8 million in 2013
and were mainly composed of pension financial related costs(18.6 million compared to a 15.7
million expense in 2013) and a net foreign exchange loss of 4.1 million versus 9.4 million in
2013.
Corporate tax:
The group effective tax was 26.8% including the French CVAE tax corresponding to the tax
charge of 104.1 million with a profit before tax of 388.7 million. Based on normalized net
income, the normalized group effective tax rate was 29.7%.
Non - Controlling interests:

Non - Controlling interests included share holdings held by joint venture partners and other
associates of the group. They were mostly related to world-line after the dilution of our
participating interests, as part of the IPO in June 27th 2014 for 16.1 million.
Normalized net income:

The normalized net income excluding unusual, abnormal, and infrequent items (net of tax)
was 438.0 million, increased by 5.5% in comparison with previous year.
(In Million) 12 months 12 months
ended 31 Dec ended 31 Dec
2014 2013
Net income - Attributable to owners of the parent 265.2 261.6
Other operating income and expenses (261.6) (228.5)
Tax effect on other operating income and expenses 85.9 65.6
Other unusual items on tax 2.9 9.2
Total unusual items - Net of tax (172.8) (153.7)
Normalized net income - Attributable to owners of 438.0 415.3
the parent
19 | P a g e
Earnings per share:
(In million) 12 months % 12 months %

ended 31 Margin ended 31 Margin
Dec 2014 Dec 2013
Net income - Attributable to owners of 265.2 2.9% 261.6 3.0%
the parent [a]
Impact of dilutive instruments - - 13.8
Net income restated of dilutive
instruments - Attributable to owners of 265.2 2.9% 275.4 3.2%
the parent[b]
Attributable to owners of the parent [c] 438.0 4.8% 415.3 4.8%
Impact of dilutive instruments - 13.8
Normalized net income restated of 438.0 4.8% 429.1 5.0%
dilutive instruments - Attributable to
owners of the parent [d]
Average number of shares [e] 99,358,877 87,805,661
Impact of dilutive instruments 1,211,306 11,530,518
Diluted average number of shares [f] 100,570,183 99,336,179
(In EUR)
Basic EPS [a] / [e] 2.67 2.98
Diluted EPS [b] / [f] 2.64 2.77
Normalized basic EPS [c] / [e] 4.41 4.73
Normalized diluted EPS [d] / [f] 4.36 4.32
Potential dilutive instruments comprised stock subscription (equivalent to 1,211,306 options)

and did not generate a restatement of net income used for the diluted EPS calculation.
Normalized basic and diluted EPS reached respectively 4.41 (4.73 in 2013) and 4.36 (4.32
in 2013).
20 | P a g e
Cash Flow:
The Group net cash was 989.1 million at the end of December 2014, thus representing 83.7
million net cash improvement compared to end of December 2013.
Free cash flow representing the change in net cash or net debt, excluding dividends paid to
shareholders, net material acquisitions/disposals and equity changes, reached 367.1 million
versus 365.1 million achieved in 2013.
(In Million ) 12 months ended 12 months

31 Dec 2014 ended 31
Dec 2013
Operating Margin before Depreciation and 919.4 865.4
Amortization(OMDA)
Capital expenditures (354.1) (340.0)
Change in working capital requirement 104.6 111.2
Cash from operation (CFO) 669.9 636.6
Taxes paid (119.7) (96.7)
Net cost of financial debt paid (15.3) (30.9)
Reorganization in other operating income (137.8) (114.0)
Rationalization & associated costs in other operating income (39.6) (53.4)
Integration and acquisition costs (15.0) (19.9)
Net financial investments (*) (0.8) (2.8)
Profit sharing amounts payable transferred to debt (1.0) (3.2)
Other Changes (**) 26.4 49.4
Free Cash Flow 367.1 365.1
Net material (acquisitions)/disposals (341.5) (16.2)
Capital increase/ (decrease) & bonds conversion 288.4 480.1
Group share buy - back program (234.5) (115.8)
Dividends paid to owners of the parent (38.3) (17.3)
Changes in net cash/(debt) 41.2 695.9
Opening net cash/(debt) 905.4 232.1
Change in net cash/(debt) 41.2 695.9
Foreign exchange rate fluctuation on net cash/(debt) 42.5 (22.6)
Closing net cash/(debt) 989.1 905.4
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(*) Net long term financial investments excluding acquisitions and disposals.
(**) "Other Changes" include other operating income with cash impact (excluding
reorganization, rationalization and associated costs, integration costs and acquisition costs),
dividends paid to non-controlling interests, sales of treasury shares & common stock issues
following employees exercise of stock options and other financial items with cash impact.
Cash from operations (CFO) amounted to 669.9 million and increased by 33.3 million
compared to prior year. This increase resulted from the evolution of the three following
components:
 OMDA (54.0 million) mainly reflecting the increase of operating margin,
 Higher capital expenditures (14.1 million),
 Negative change in working capital requirement(6.6 million).
OMDA of 919.4 million represented 10.2% of revenue, compared to the 10.0% of revenue
last year.
(In Million) 12 months 12 months
ended 31 ended 31
Dec 2014 Dec 2013
Operating margin 701.9 645.2
+ Depreciation of fixed assets 313.0 329.1
+ Net book value of assets sold/written off 16.7 19.5
+Charge for equity - based compensation 22.7 16.7
+/- Net charge/(release) of pension provision (84.4) (81.5)
+/- Net charge/(release) of provision (50.5) (63.6)
OMDA 919.4 865.4
Capital expenditures amounted to 354.1 million or 3.9% of revenue equal to the level of
2013.The change in working capital contributed positively by 104.6 million, 31.3 million in
the first semester and 73.3 million in the second semester mostly coming from the
optimization actions conducted on Bull working capital. The DSO ratio reached 38 days at
the end of December 2014 compared to 40 days in 2013. DSO has been positively impacted
by the implementation of financial arrangements on large customer contracts by 12 days
compared to 8 days in December 2013. The DPO ratio was 78 days at end of 2014 compared
to 82 days in 2013.
22 | P a g e
Cash out related to taxes paid reached 119.7 million and was 23.0 million higher than last
year. The increase in tax cash out corresponded to deferred tax payments of previous periods
which have become due in 2014 principally in Germany for 14.2 million.
The cost of new debt for 15.3 million decreased by 15.6 million compared to 2013. This was
mainly due to:
 A lower cost of gross debt which was 3.86% in 2014 compared to 4.81% last
year;
 A lower average gross debt which decreased by -156.5 million during the year
(651.0 million compared to 807.5 million in 2013). Such decrease came
mainly from the early redemption of the 2009 and 2011 convertible bonds in
October 2013 and in December 2013 respectively. The average gross cash
amounted to 1,057.9 million during the year 2014 compared to 947.3 million
in 2013.
Reorganization, rationalization and associated costs reached 177.4 million, including the cash
out related to the acceleration of the Bull reorganization.
Other changes of 26.4 million corresponded mainly to the exercise of equity-based
compensation for +73.9 million (of which +57.2 million over the first semester) and the
payment related to the final settlement with DWP for the exit of the working capabilities
assessments (WCA) contact for -25.3 million and other financial expenses for -23.1 million.
As a result, the group free cash flow (FCF) generated during the year 2014 was 367.1 million.
The net debt impact resulting from net acquisitions/disposals corresponded to:
 The acquisition of 100% of Bull shares for 693.7 million (of which 602.7
million of acquisition price and 91.0 million of net debt);
 The acquisition of Cambridge technology partners in CEE for 20.1 million
(including 5.8 million of net cash); and
 The disposal of worldwide IPO, for 372.3 million resulting to 29.57% of non-
controlling interests.
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The 288.4 million capital increase & bonds conversion mainly resulted from the following
capital increase:
 246.3 million subscribed, as part of worldwide IPO, by the non - controlling
interests;
 35.3 million contribution by the employees to the group shareholding program
SPRINT;
 5.0 million subscribed by the group partners in canopy, the open cloud
company limited, a subsidiary dedicated to cloud computing.
In 2014, the group repurchased Atos shares for 234.5 million as part of the 345.0 million
shares buy-back program which has been completed in December 2014.
Foreign exchange rate fluctuation which is determined on debt or cash exposure by country
represented an increase in the net cash of 42.5 million mainly coming from the change of
Euro against GPB, US Dollar and Asian Currencies.
Financing Policy:
Atos has implemented a strict financing policy which is reviewed by the group audit
committee, with the objective to secure and optimize the group's liquidity management. Each
decision regarding external financing is approved by the board of directors. Under this policy,
all group treasury activities, including cash management, short-term investments, hedging
and foreign exchange transactions, as well as off-balance sheet financing through operating
leases, are centrally managed through the group treasury department. Following a cautions
short term financial policy, the group did not make any short term cash investment in risky
assets.
Financing structure:
Atos policy is to fully cover its expected liquidity requirements by long-term committed
loans or other appropriate long-term financial instruments. Terms and conditions of these
loans include maturity and covenants leaving sufficient flexibility for the group to finance its
operations and expected developments.
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Bank covenants:
The Group was well within its borrowing covenant for the multi - currency revolving credit
facility, with a consolidated leverage ratio (net debt divided by OMDA) of - 1.08 at the end
of December 2014 (the ratio is negative due to the net cash position of the Group at the end
of December 2014). The consolidated leverage ratio must not be greater than 2.5 times under
the terms of the multi-currency revolving credit facility. The Group was also well within the
limit of the consolidated interest cover ratio which apply only to the Atos securitization
program of trade receivables. The consolidated interest cover was 45.88 (Operating Margin
divided by the net cost of financial debt which may not be less than 4 times).
Investment policy:
Atos has a policy to lease its office space and data processing centres. Some fixed assets such
as IT equipment and company cars may be financed through leases. The Group Treasury
department evaluates and approves the type of financing for each new investment.
Hedging policy:
Atos‘ objective is also to protect the Group against fluctuations in interest rates by swapping
to fixed rate a portion of the existing floating - rate financial debt. Authorized derivative
instruments used to hedge the debt are swap contracts, entered into with leading financial
institutions and centrally managed by the Group Treasury Department.
In November 2011, the Group has hedged for an amount of € 280.0 million the interest rate
exposure on the used portion of the credit facility signed in 2011. The instrument
s used were Swap rates maturing in November 2015.
25 | P a g e
Chapter - 3
3.1Theoretical study:
A polymer (/ˈpɒlᵻmər/; Greek poly-, "many" + -mer, "parts") is a large molecule, or

macromolecule, composed of many repeated subunits. Because of their broad range of
properties, both synthetic and natural polymers play an essential and ubiquitous role in
everyday life. Polymers range from familiar synthetic plastics such as polystyrene to natural
biopolymers such as DNA and proteins that are fundamental to biological structure and
function. Polymers, both natural and synthetic, are created via polymerization of many small
molecules, known as monomers. Their consequently large molecular mass relative to small
molecule compounds produces unique physical properties, including toughness,
viscoelasticity, and a tendency to form glasses and semi crystalline structures rather than
crystals.
The term "polymer" derives from the ancient Greek word πολύς (polus, meaning "many,
much") and μέρος (meros, meaning "parts"), and refers to a molecule whose structure is
composed of multiple repeating units, from which originates a characteristic of high relative
molecular mass and attendant properties. The units composing polymers derive, actually or
conceptually, from molecules of low relative molecular mass. The term was coined in 1833
by Jöns Jacob Berzelius, though with a definition distinct from the modern IUPAC definition.
The modern concept of polymers as covalently bonded macromolecular structures was
proposed in 1920 by Hermann Staudinger, who spent the next decade finding experimental
evidence for this hypothesis.
Polymers are studied in the fields of biophysics and macromolecular science, and polymer
science (which includes polymer chemistry and polymer physics). Historically, products
arising from the linkage of repeating units by covalent chemical bonds have been the primary
focus of polymer science; emerging important areas of the science now focus on non-
covalent links. Polyisoprene of latex rubber is an example of a natural/biological polymer,
and the polystyrene of Styrofoam is an example of a synthetic polymer. In biological
contexts, essentially all biological macromolecules—i.e., proteins (polyamides), nucleic acids
(polynucleotides), and polysaccharides—are purely polymeric, or are composed in large part
26 | P a g e
of polymeric components—e.g., isoprenylated/lipid-modified glycoprotein's, where small

lipidic molecules and oligosaccharide modifications occur on the polyamide backbone of the
protein.
Polymers are of two types:
 Natural polymeric materials such as shellac, amber, wool, silk and natural rubber have
been used for centuries. A variety of other natural polymers exist, such as cellulose,
which is the main constituent of wood and paper.
 The list of synthetic polymers includes synthetic rubber, phenol formaldehyde resin
(or Bakelite), neoprene, nylon, polyvinyl chloride (PVC or vinyl), polystyrene,
polyethylene, polypropylene, polyacrylonitrile, PVB, silicone, and many more.
Most commonly, the continuously linked backbone of a polymer used for the preparation of
plastics consists mainly of carbon atoms. A simple example is polyethylene ('polythene' in
British English), whose repeating unit is based on ethylene monomer. However, other
structures do exist; for example, elements such as silicon form familiar materials such as
silicones, examples being Silly Putty and waterproof plumbing sealant. Oxygen is also
commonly present in polymer backbones, such as those of polyethylene glycol,
polysaccharides (in glycoside bonds), and DNA (in phosphodiester bonds).
Polymer synthesis:
Polymerization is the process of combining many small molecules known as monomers into a
covalently bonded chain or network. During the polymerization process, some chemical
groups may be lost from each monomer. This is the case, for example, in the polymerization
of PET polyester. The monomers are terephthalic acid (HOOC-C6H4-COOH) and ethylene
glycol (HO-CH2- CH2-OH) but the repeating unit is -OC-C6H4-COO-CH2-CH2-O-, which
corresponds to the combination of the two monomers with the loss of two water molecules.
The distinct piece of each monomer that is incorporated into the polymer is known as a repeat
unit or monomer residue.
Laboratory synthetic methods are generally divided into two categories, step-growth
polymerization and chain-growth polymerization. The essential difference between the two is
that in chain growth polymerization, monomers are added to the chain one at a time only,
27 | P a g e
such as in polyethylene, whereas in step-growth polymerization chains of monomers may

combine with one another directly, such as in polyester. However, some newer methods such
as plasma polymerization do not fit neatly into either category. Synthetic polymerization
reactions may be carried out with or without a catalyst. Laboratory synthesis of biopolymers,
especially of proteins, is an area of intensive research.
Biological synthesis:
There are three main classes of biopolymers: polysaccharides, polypeptides, and

polynucleotide's. In living cells, they may be synthesized by enzyme-mediated processes,
such as the formation of DNA catalyzed by DNA polymerase. The synthesis of proteins
involves multiple enzyme-mediated processes to transcribe genetic information from the
DNA to RNA and subsequently translate that information to synthesize the specified protein
from amino acids. The protein may be modified further following translation in order to
provide appropriate structure and functioning. There are other biopolymers such as rubber,
suberin, melanin and lignin.
Modification of natural polymers:
Naturally occurring polymers such as cotton, starch and rubber were familiar materials for
years before synthetic polymers such as polyethene and Perspex appeared on the market.
Many commercially important polymers are synthesized by chemical modification of
naturally occurring polymers. Prominent examples include the reaction of nitric acid and
cellulose to form nitrocellulose and the formation of vulcanized rubber by heating natural
rubber in the presence of sulphur. Ways in which polymers can be modified include
oxidation, cross-linking and end-capping.
Especially in the production of polymers, the gas separation by membranes has acquired
increasing importance in the petrochemical industry and is now a relatively well-established
unit operation. The process of polymer degassing is necessary to suit polymer for extrusion
and pelletizing, increasing safety, environmental, and product quality aspects. Nitrogen is
generally used for this purpose, resulting in a vent gas primarily composed of monomers and
nitrogen.
28 | P a g e
Polymer properties:
Polymer properties are broadly divided into several classes based on the scale at which the
property is defined as well as upon its physical basis. The most basic property of a polymer is
the identity of its constituent monomers. A second set of properties, known as microstructure,
essentially describe the arrangement of these monomers within the polymer at the scale of a
single chain. These basic structural properties play a major role in determining bulk physical
properties of the polymer, which describe how the polymer behaves as a continuous
macroscopic material. Chemical properties, at the nano-scale, describe how the chains
interact through various physical forces. At the macro-scale, they describe how the bulk
polymer interacts with other chemicals and solvents.
Monomers and repeat units:
The identity of the repeat units (monomer residues, also known as "mers") comprising a
polymer is its first and most important attribute. Polymer nomenclature is generally based
upon the type of monomer residues comprising the polymer. Polymers that contain only a
single type of repeat unit are known as homopolymers, while polymers containing a mixture
of repeat units are known as copolymers. Poly(styrene), for example, is composed only of
styrene monomer residues, and is therefore classified as a homopolymer. Ethylene-vinyl
acetate, on the other hand, contains more than one variety of repeat unit and is thus a
copolymer. Some biological polymers are composed of a variety of different but structurally
related monomer residues; for example, polynucleotide's such as DNA are composed of a
variety of nucleotide subunits.
A polymer molecule containing ionisable subunits is known as a polyelectrolyte or ionomer.
Microstructure:
The microstructure of a polymer (sometimes called configuration) relates to the physical

arrangement of monomer residues along the backbone of the chain. These are the elements of
polymer structure that require the breaking of a covalent bond in order to change. Structure
has a strong influence on the other properties of a polymer. For example, two samples of
natural rubber may exhibit different durability, even though their molecules comprise the
same monomers.
29 | P a g e
Polymer architecture:
An important micro structural feature of a polymer is its architecture and shape, which relates
to the way branch points lead to a deviation from a simple linear chain. [19] A branched
polymer molecule is composed of a main chain with one or more substituent side chains or
branches. Types of branched polymers include star polymers, comb polymers, brush
polymers, dendronized polymers, ladder polymers, and dendrimers. There exist also two-
dimensional polymers which are composed of topologically planar repeat units. A polymer's
architecture affects many of its physical properties including, but not limited to, solution
viscosity, melt viscosity, solubility in various solvents, glass transition temperature and the
size of individual polymer coils in solution. A variety of techniques may be employed for the
synthesis of a polymeric material with a range of architectures, for example Living
polymerization.
Chain length:
The physical properties of a polymer are strongly dependent on the size or length of the
polymer chain. For example, as chain length is increased, melting and boiling temperatures
increase quickly. Impact resistance also tends to increase with chain length, as does the
viscosity, or resistance to flow, of the polymer in its molten state. Melt viscosity is related to
polymer chain length Z roughly as~ Z3.2, so that a tenfold increase in polymer chain length
results in a viscosity increase of over 1000 times. Increasing chain length furthermore tends
to decrease chain mobility, increase strength and toughness, and increase the glass transition
temperature (Tg). This is a result of the increase in chain interactions such as Vander Waals
attractions and entanglements that come with increased chain length. These interactions tend
to fix the individual chains more strongly in position and resist deformations and matrix
breakup, both at higher stresses and higher temperatures.
A common means of expressing the length of a chain is the degree of polymerization, which
quantifies the number of monomers incorporated into the chain. As with other molecules, a
polymer's size may also be expressed in terms of molecular weight. Since synthetic
polymerization techniques typically yield a polymer product including a range of molecular
weights, the weight is often expressed statistically to describe the distribution of chain lengths
present in the same. Common examples are the number average molecular weight and weight
average molecular weight. The ratio of these two values is the polydispersity index,
30 | P a g e
commonly used to express the "width" of the molecular weight distribution. A final
measurement is contour length, which can be understood as the length of the chain backbone
in its fully extended state.
The flexibility of an un-branched chain polymer is characterized by its persistence length.
Monomer arrangement in copolymers:
 Alternating copolymers possess regularly alternating monomer residues: [AB...]n.

 Periodic copolymers have monomer residue types arranged in a repeating sequence:
[AnBm...] m being different from n.
 Statistical copolymers have monomer residues arranged according to a known
statistical rule. A statistical copolymer in which the probability of finding a particular
type of monomer residue at a particular point in the chain is independent of the types
of surrounding monomer residue may be referred to as a truly random copolymer.
 Block copolymers have two or more homopolymer subunits linked by covalent
bonds. Polymers with two or three blocks of two distinct chemical species (e.g., A and
B) are called diblock copolymers and triblock copolymers, respectively. Polymers
with three blocks, each of a different chemical species (e.g., A, B, and C) are termed
triblock terpolymers.
 Graft or grafted copolymers contain side chains that have a different composition or
configuration than the main chain.
Tacticity:
Tacticity describes the relative stereochemistry of chiral centers in neighboring structural

units within a macromolecule. There are three types: isotactic (all substituents on the same
side), atactic (random placement of substituent's), and syndiotactic (alternating placement of
substituent's).
Polymer morphology:
Polymer morphology generally describes the arrangement and micro scale ordering of
polymer chains in space.
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Crystalline:
When applied to polymers, the term crystalline has a somewhat ambiguous usage. In some
cases, the term crystalline finds identical usage to that used in conventional crystallography.
For example, the structure of a crystalline protein or polynucleotide, such as a sample
prepared for x-ray crystallography, may be defined in terms of a conventional unit cell
composed of one or more polymer molecules with cell dimensions of hundreds of angstroms
or more.
A synthetic polymer may be loosely described as crystalline if it contains regions of three-

dimensional ordering on atomic (rather than macromolecular) length scales, usually arising
from intermolecular folding and/or stacking of adjacent chains. Synthetic polymers may
consist of both crystalline and amorphous regions; the degree of crystalline may be expressed
in terms of a weight fraction or volume fraction of crystalline material. Few synthetic
polymers are entirely crystalline.
The crystalline of polymers is characterized by their degree of crystalline, ranging from zero
for a completely non-crystalline polymer to one for a theoretical completely crystalline
polymer. Polymers with microcrystalline regions are generally tougher (can be bent more
without breaking) and more impact-resistant than totally amorphous polymers.
Polymers with a degree of crystalline approaching zero or one will tend to be transparent,
while polymers with intermediate degrees of crystalline will tend to be opaque due to light
scattering by crystalline or glassy regions. Thus for many polymers, reduced crystalline may
also be associated with increased transparency.
Chain conformation:
The space occupied by a polymer molecule is generally expressed in terms of radius of

gyration, which is an average distance from the centre of mass of the chain to the chain itself.
Alternatively, it may be expressed in terms of pervaded volume, which is the volume of
solution spanned by the polymer chain and scales with the cube of the radius of gyration.
32 | P a g e
Mechanical properties:
The bulk properties of a polymer are those most often of end-use interest. These are the
properties that dictate how the polymer actually behaves on a macroscopic scale.
Tensile strength:
The tensile strength of a material quantifies how much elongating stress the material will
endure before failure. This is very important in applications that rely upon a polymer's
physical strength or durability. For example, a rubber band with a higher tensile strength will
hold a greater weight before snapping. In general, tensile strength increases with polymer
chain length and cross linking of polymer chains.
Young's modulus of elasticity:
Young's Modulus quantifies the elasticity of the polymer. It is defined, for small strains, as
the ratio of rate of change of stress to strain. Like tensile strength, this is highly relevant in
polymer applications involving the physical properties of polymers, such as rubber bands.
The modulus is strongly dependent on temperature. Viscoelasticity describes a complex time-
dependent elastic response, which will exhibit hysteresis in the stress-strain curve when the
load is removed. Dynamic mechanical analysis or DMA measures this complex modulus by
oscillating the load and measuring the resulting strain as a function of time.
Transport properties:
Transport properties such as diffusivity relate to how rapidly molecules move through the
polymer matrix. These are very important in many applications of polymers for films and
membranes.
Phase behavior:
Melting point:
The term melting point, when applied to polymers, suggests not a solid–liquid phase
transition but a transition from a crystalline or semi-crystalline phase to a solid amorphous
phase. Though abbreviated as simply Tm, the property in question is more properly called the
crystalline melting temperature. Among synthetic polymers, crystalline melting is only
33 | P a g e
discussed with regards to thermoplastics, as thermosetting polymers will decompose at high

temperatures rather than melt.
Glass transition temperature:
A parameter of particular interest in synthetic polymer manufacturing is the glass transition

temperature (Tg), at which amorphous polymers undergo a transition from a rubbery, viscous
liquid, to a brittle, glassy amorphous solid on cooling. The glass transition temperature may
be engineered by altering the degree of branching or cross linking in the polymer or by the
addition of plasticizer.
Mixing behavior
Phase diagram of the typical mixing behavior of weakly interacting polymer solutions.
In general, polymeric mixtures are far less miscible than mixtures of small molecule
materials. This effect results from the fact that the driving force for mixing is usually entropy,
not interaction energy. In other words, miscible materials usually form a solution not because
their interaction with each other is more favourable than their self-interaction, but because of
an increase in entropy and hence free energy associated with increasing the amount of
volume available to each component. This increase in entropy scales with the number of
particles (or moles) being mixed. Since polymeric molecules are much larger and hence
generally have much higher specific volumes than small molecules, the number of molecules
involved in a polymeric mixture is far smaller than the number in a small molecule mixture of
equal volume. The energetic of mixing, on the other hand, is comparable on a per volume
basis for polymeric and small molecule mixtures. This tends to increase the free energy of
34 | P a g e
mixing for polymer solutions and thus make salvation less favourable. Thus, concentrated
solutions of polymers are far rarer than those of small molecules.
Furthermore, the phase behavior of polymer solutions and mixtures is more complex than that
of small molecule mixtures. Whereas most small molecule solutions exhibit only an upper
critical solution temperature phase transition, at which phase separation occurs with cooling,
polymer mixtures commonly exhibit a lower critical solution temperature phase transition, at
which phase separation occurs with heating.
In dilute solution, the properties of the polymer are characterized by the interaction between
the solvent and the polymer. In a good solvent, the polymer appears swollen and occupies a
large volume. In this scenario, intermolecular forces between the solvent and monomer
subunits dominate over intermolecular interactions. In a bad solvent or poor solvent,
intermolecular forces dominate and the chain contracts. In the theta solvent, or the state of the
polymer solution where the value of the second virial coefficient becomes 0, the
intermolecular polymer-solvent repulsion balances exactly the intermolecular monomer-
monomer attraction. Under the theta condition (also called the Flory condition), the polymer
behaves like an ideal random coil. The transition between the states is known as a coil-
globule transition.
Inclusion of plasticizers:
Inclusion of plasticizers tends to lower Tg and increase polymer flexibility. Plasticizers are
generally small molecules that are chemically similar to the polymer and create gaps between
polymer chains for greater mobility and reduced inter chain interactions. A good example of
the action of plasticizers is related to polyvinylchloride's or PVCs. An uPVC, or unplasticized
polyvinylchloride, is used for things such as pipes. A pipe has no plasticizers in it, because it
needs to remain strong and heat-resistant. Plasticized PVC is used in clothing for a flexible
quality. Plasticizers are also put in some types of cling film to make the polymer more
flexible.
Chemical properties:
The attractive forces between polymer chains play a large part in determining polymer's
properties. Because polymer chains are so long, these inter chain forces are amplified far
35 | P a g e
beyond the attractions between conventional molecules. Different side groups on the polymer
can lend the polymer to ionic bonding or hydrogen bonding between its own chains. These
stronger forces typically result in higher tensile strength and higher crystalline melting points.
The intermolecular forces in polymers can be affected by dipoles in the monomer units.
Polymers containing amide or carbonyl groups can form hydrogen bonds between adjacent
chains; the partially positively charged hydrogen atoms in N-H groups of one chain are
strongly attracted to the partially negatively charged oxygen atoms in C=O groups on
another. These strong hydrogen bonds, for example, result in the high tensile strength and
melting point of polymers containing urethane or urea linkages. Polyesters have dipole-dipole
bonding between the oxygen atoms in C=O groups and the hydrogen atoms in H-C groups.
Dipole bonding is not as strong as hydrogen bonding, so a polyester's melting point and
strength are lower than Kevlar's (Twaron), but polyesters have greater flexibility.
Ethene, however, has no permanent dipole. The attractive forces between polyethylene chains
arise from weak van der Waals forces. Molecules can be thought of as being surrounded by a
cloud of negative electrons. As two polymer chains approach, their electron clouds repel one
another. This has the effect of lowering the electron density on one side of a polymer chain,
creating a slight positive dipole on this side. This charge is enough to attract the second
polymer chain. Van der Waals forces are quite weak, however, so polyethylene can have a
lower melting temperature compared to other polymers.
Optical properties:
Polymers such as PMMA and HEMA:MMA are used as matrices in the gain medium of
solid-state dye lasers that are also known as polymer lasers. These polymers have a high
surface quality and are also highly transparent so that the laser properties are dominated by
the laser dye used to dope the polymer matrix. These type of lasers, that also belong to the
class of organic lasers, are known to yield very narrow line widths which is useful for
spectroscopy and analytical applications. An important optical parameter in the polymer used
in laser applications is the change in refractive index with temperature also known as dn/dT.
For the polymers mentioned here the (dn/dT) ~ −1.4 × 10−4 in units of K−1 in the 297 ≤ T ≤
337 K range.
36 | P a g e
Chapter - 4
Analysis and interpretation of data:
4.1 CALCULATIONS OF FUNDS FROM OPERATION AND CASH

FROM OPERATION FOR THE YEAR ENDED (Rs in Thousands)
Particulars 2003-2004 2004-2005 2005-2006 2006-2007

Net Profit 621082 1183275 478738 400470
Depreciation during the 1260161 1440184 1620207 1800231
year
FFO(FLO) 1881243 2623459 2098945 2200701
ADD:
Sundry debtors 736292 293962
Prepaid Expenses 43200
Sundry creditors 4731130 1710210 10643203
Outstanding liabilities 1009534 91841
Bank O/D 2950464 10801353
LESS:
Stock 1497634 567073 1755576 1106913
Bank O/D 2950464
Outstanding liabilities 767131 334244
Sundry Debtors 9562393 910746
Sundry Creditors 1699354
CFO(CLO) 9854229 342963 1516020 8950797
37 | P a g e
4.2 CASH FLOW STATEMENT
Inflow 2003-2004 2004-2005 2005-2006 2006-2007

Opening balance 14564 64678 104545 63582
Cash from operation 9854229 342963 1516020 8950797
Increase in loan funds 2410798
Sales of Asset 797244

Increase in share 2800000
capital
Total 9868793 1204885 6831363 9014379
Outflows
Cash outflow from
operation
Purchase of Asset 9776411 6767781 7004825
Decrease in loan 27704 900340 1731144
funds
Decrease in share 200000
capital
Closing balance 64678 104545 63582 278410
Total 9868793 1204885 6831363 9014379
Inference:
This table shows that the cash flow statements of MAJESTIC POLYMERS are to be
efficient. The cash inflow of the company is to be increased for year after year. The fund
from operation is also to differ from every year. The company should increase their share
capital from 2006-2007 for Rs. 28, 00,000. It's must be used as efficient for the next year for
decrease their loan amount.
38 | P a g e
4.3 TREND ANALYSIS
Y = a + bX
Where a = ∑Y ; b = ∑XY
n ∑X2
4.3.1 INVENTORIES:
Inventories
YEAR X X2 (Rs in lakhs) XY
Y (Rs in lakhs)
‘02 – ‗03 -2 4 27,76,072 -55,52,144
‘03 – ‗04 -1 1 12,78,438 -12,78,438
‘04 – ‗05 0 0 18,45,511 0
‘05– ‗06 1 1 36,01,087 36,01,087
‘06 – ‗07 2 4 47,08,000 94,16,000
TOTAL 10 1,42,09,108 61,86,505
a = 1, 42, 09,108 = 2, 84,182.6

5
b = 61, 86,505 = 6, 18,650.5

10
Inference:
This table indicates that the volume of inventory has been increased every year. Its must be
increased for the last year 11, 06,913. Inventories value in 2008 will be about 21, 40,134.1
39 | P a g e
4.3.2 SUNDRY DEBTORS
Sundry
YEAR X X2 Debtors XY
(Rs) (Rs)
Y
‘02 – ‗03 -2 4 20,69,513 -41,39,026
‘03 – ‗04 -1 1 28,05,805 -28,05,805
‘04 – ‗05 0 0 25,11,842 0
‘05 – ‗06 1 1 1,20,74,236 1,20,74,236
‘06 – ‗07 2 4 1,29,84,982 2,59,69,964
TOTAL 10 3,24,46,378 3,10,99,369
a = 3, 24, 46,378 = 64, 89,275.6

5
b = 3, 10, 99,369 = 31, 09,936.9

10
Inference:
This table shows that the Sundry Debtors has been more every year. It must be increased
more than 6 times from the beginning of the period of the study. Sundry Debtors value in
2008 will be about 1, 58, 19,086.3.
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4.3.3 CASH / BANK
Cash / Bank
YEAR X X2 (Rs) XY
Y (Rs)
‘02– ‗03 -2 4 14,564 -29,128
‘03 – ‗04 -1 1 64,679 -64,679
‘04 – ‗05 0 0 61,858 0
‘05 – ‗06 1 1 63,582 63,582
‘06 – ‗07 2 4 2,78,410 5,56,820
TOTAL 10 4,83,093 5,26,593
a = 4, 83,093 = 96,618.6
5
b = 5, 26,593 = 52,659.3
10
Inference:
The cash value of the MAJESTIC POLYMERS has been increased and the estimated it
should be decreased for the previous year. Cash value in 2008 will be about 254596.5.
41 | P a g e
4.3.4 LOANS & ADVANCES
Loans &
YEAR X X2 Advances XY
(Rs) (Rs)
Y
‘02 – ‗03 -2 4 1,00,065 -2,00,130
‘03 – ‗04 -1 1 8,26,377 -8,26,377
‘04 – ‗05 0 0 3,60,138 0
‘05 – ‗06 1 1 27,70,937 27,70,937
‘06 – ‗07 2 4 5,62,837 11,25,674
TOTAL 10 46,20,354 28,70,104
a = 46, 20,354 = 9, 24,070.8

5
b = 28, 70,104 = 2, 87,010.4

10
Inference:
The table indicates that the loans and advances of MAJESTIC POLYMERS will be reduced
from the year 2006-2007. Loans & Advances value in 2008 will be about 17, 85,102.
42 | P a g e
4.3.5 CURRENT LIABILITIES
Current
YEAR X X2 Liabilities XY
(Rs) (Rs)
Y
‘02 – ‗03 -2 4 22,58,576 -45,17,152
‘03 – ‗04 -1 1 57,45,442 -57,45,442
‘04 – ‗05 0 0 38,56,338 0
‘05 – ‗06 1 1 1,44,73,102 1,44,73,102
‘06 – ‗07 2 4 1,25,88,203 2,51,76,406
TOTAL 10 3,89,21,661 2,93,86,914
a = 3, 89, 21,661 = 77, 84,332.2

5
b = 2, 93, 86,914 = 29, 38,691.4

10
Inference:
The table shows that the company‘s current liability will be increased from the every year.
Current Liabilities value in 2008 will be about 1, 66, 00,406.4.
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4.3.6 CURRENT ASSET
Current asset
s
X X2 (Rs) XY
YEAR Y (Rs)
‘02 – ‗03 -2 4 21,27,277 -42,54,554
‘03 – ‗04 -1 1 41,48,921 -41,48,921
‘04 – ‗05 0 0 59,74,933 0
‘05 – ‗06 1 1 1,85,09,842 1,85,09,842
‘06 – ‗07 2 4 2,03,50,240 4,07,00,480
TOTAL 10 5,11,11,213 5,08,06,947
a = 5,11,11,213 = 1,02,22,242.6
5
b = 5,08,06,947 = 50,80,694.7
10
Inference:
This table shows that the current asset of the company will be grown at 9times. When
compared to the beginning of the period of study its must be increased. Current Asset value
in 2008 will be about 2, 54,64,326.7.
44 | P a g e
4.4 RATIO ANALYSIS
Ratio Analysis is a powerful tool of financial analysis. A Ratio is defined as ―the indicated
quotient of two mathematical expressions‖ and as ―the relationship between two or more
things‖. In financial analysis, a ratio is used as a benchmark for evaluating the financial
position and performance of a firm.
Ratio helps to summarize large quantities of financial data and to make qualitative judgment
about the firm‘s financial performance.
45 | P a g e
4.5 Data Analysis:
4.5.1 Gender of Respondents
Table 4.5.1 Gender of the Respondents
Gender Respondents
Male 66%
Female 34%
Source: Primary data
Graph 1
Respondents
34%
Male
Female
66%
Source: Table 4.5.1
Interpretation: In the above table, it shows that out of 100 samples 66% of
respondents are male and 34% of respondents are female.
Analysis: In the above graph, it shows that out of 100 samples 66% of respondents
are male and 34% of respondents are female.
46 | P a g e
4.5.2. What is your specific industry? Please select the industry that best applies to our
company.
Table 4.5.2 Choice of Industry for our company
Choices Respondents
Equipment - OEM 28%
Furniture/Home Goods 13%
Industrial Equipment 15%
Plastics/Injection Molding 24%
Metal Fabrication 20%
Graph 2
Respondents
Equipment -
OEM
20%
28% Furniture/Hom
e Goods
24% Industrial
13% Equipment
15% Plastics/Injecti
on Molding
Source: Table 4.5.2
Interpretation: The above table explains that about 28% of the respondents make a
choice of saying that Equipment – OEM industry, best applies to our company.
Analysis: The graph explains that about 28% of the respondents make a choice of
Equipment-OEM industry, 13% for Furniture/Home goods, 15% for Industrial
equipment, 24% for Plastics/injection molding and 20% Metal fabrication industry
saying it best applies to our company.
47 | P a g e
4.5.3. Does your business have international operations?
Table 4.5.3 Business having interntional operations
Choices Respondents
Yes 65%
No 35%
Graph 3
Respondents
35%
Yes
No
65%
Source: Table 4.5.3
Interpretation: The above table explains that about 65% of the respondents says that
they have international operations in their business.
Analysis: The graph explains that about 65% of the respondents says that they have
international operations in their business, whereas 35% of the respondents says no for
the same.
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4.5.4. What are your revenue expectations for 2017 compared to 2016?
Table 4.5.4 Revenue expections for 2017

Choices Respondents
Decrease more than 10% 18%
Decrease up to 10% 16%
Increase more than 10% 22%
Increase up to 10% 26%
Remain unchanged 18%
Graph 4
Respondents
Decrease
more than
18% 18% 10%
Decrease up
16% to 10%
26%
22% Increase more

than 10%
Source: Table 4.5.4
Interpretation: The above table explains that about 26% of the respondents make a
choice for increasing upto to 10% as revenue expectations for 2017 compared to
2016.
Analysis: The graph explains that about 18% of the respondents make a choice of
decreasing more than 10% as revenue expectations, 16% of respondents make a
choice of decreasing upto 10% as revenue expectations for 2017 compared to 2016.
While 22% of the respondents go for increasing more than 10% as revenue
expectations, 26% of the respondents go increasing upto to 10% as revenue
expectations for 2017 compared to 2016 and 18% remains unchanged.
49 | P a g e
4.5.5. Currently, which of the following actions are among our company's top
priorities?
Table 4.5.5 Following actions among our company‘s top priorities

Choices Respondents
Developing new products and services 15%
in response to changing consumption
patterns
Strategic planning 18%
Reconfiguring supply chain 12%
Restructuring company to position for 18%
growth
Seeking M&A opportunities 12%
Seeking new markets for products and 14%
services
Cutting operational costs 11%
Graph 5
Cutting Developing
operational new products
costs, 11 and services in
response to
Seeking new changing
markets for consumption
products and patterns, 15
services, 14
Strategic
planning, 18
Seeking M&A
opportunities,
12
Restructuring
company to Reconfiguring
position for supply
growth, 18 chain, 12
Source: Table 4.5.5
50 | P a g e
Interpretation: The above table explains that about 18% of the respondents prefer
Strategic planning and the other 18% prefer Restructuring company to position for
growth as company's top priorities.
Analysis: The graph explains that about 18% of the respondents says that they prefer
Strategic planning and the other 18% of the respondents says that they prefer
Restructuring company to position for growth as company's top priorities. While 12%
of the respondents prefer Reconfiguring supply chain and the other 12% of the
respondents prefers Seeking M&A opportunities as company's top priorities.
However, 15% of the respondents prefer Developing new products and services in
response to changing consumption patterns, 14% for Seeking new markets for
products and services and 11% for Cutting operational costs as company's top
priorities.
51 | P a g e
4.5.6.What is your view of the local economy over the next 12 months?
Table 4.5.6 View of local economy over next 12 months
Choices Respondents
Declining 32%
Growing 40%
Unchanged 28%
Graph 6
Respondents
50
40
30 40
20 32
28
10
Respondents
0
Source: Table 4.5.6
there will be growth in economy for the next 12 months.
Analysis: The graph explains that about 40% of the respondents says that there will
be growth in economy, while 32% of the respondents says that there will be decline in
local economy for the next 12 months. However, 28% of the respondents says that it
will be unchanged.
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4.5.7.In 2017, expected barriers to business growth are: Select all that apply
Table 4.5.7 Expected barriers to business growth

Choices Respondents
Monetary exchange rate 28%
Pressure for increased wages 32%
Pricing pressures (i.e., healthcare 24%

costs, increase in wages, interest
rates)
Taxation policies 16%
Graph 7
Taxation
policies, 16
%
Monetary
exchange
Pricing rate, 28%
pressures
(i.e., healthc
are
costs, increa
se in… Pressure for
increased
wages, 32%
Source: Table 4.5.7
pressure for increased wages is one of the major barrier in the business growth.
Analysis: The graph explains that about 28% of the respondents says that monetary
exchange rate is the expected barrier, while 32% of the respondents says that pressure
for increased wages is the expected barrier in the business growth. However, 24% and
16% of the respondents says that Pricing pressures (i.e., healthcare costs, increase in
wages, interest rates) and Taxation policies as expected barrier in the business growth.
53 | P a g e
4.5.8.How does your optimism regarding your company's overall financial

performance compare to the last 6 months?
Table 4.5.8 Company‘s overall financial performance
Choices Respondents
Less optimistic primarily due to external 34%
factors (i.e. economy, industry and market
trends)
Less optimistic primarily due to 23%

internal/company-specific factors (i.e.
products, services, operations and
financing)
More optimistic primarily due to external 18%

factors (i.e. economy, industry and market
trends)
More optimistic primarily due to internal 14%
factors (i.e. products, services, operations
and financing)
Remains unchanged 11%
54 | P a g e
Graph 8
More optimis
Remains
tic primarily
unchanged
Respondents Less
due to optimistic
11%
internal primarily due
factors (i.e. to external
products, ser factors (i.e.
vices, operati economy, ind
ons and… ustry and
market…
More Less
optimistic optimistic
primarily due primarily due
to external to
factors (i.e. internal/com
economy, ind pany-specific
ustry and factors (i.e.
market… products, se…
Source: Table 4.5.8
Interpretation: The above table explains that about 34% of the respondents says that while
company's overall financial performance compared to the last 6 months it is less optimistic
primarily due to external factors (i.e. economy, industry and market trends).
Analysis: The above graph explains that about 34% of the respondents and 23% of the
respondents says that while company's overall financial performance compared to the last 6
months it is less optimistic primarily due to external factors (i.e. economy, industry and
market trends) and less optimistic primarily due to internal/company-specific factors (i.e.
products, services, operations and financing). Whereas, 18% of the respondents and 14% of
the respondents says that while company's overall financial performance compared to the last
6 months it is More optimistic primarily due to external factors (i.e. economy, industry and
market trends) and More optimistic primarily due to internal factors (i.e. products, services,
operations and financing). However, 11% of the respondents says that it remains unchanged.
55 | P a g e
4.5.9.In the coming year, do you intend to change the number of cash management
providers?
Table 4.5.9 Change in number of cash management providers
Choices Respondents
Increase 27%
No change 27%
Decrease 32%
Don‘t know 14%
Graph 9
35
30
25
20
15
10
5 Respondents
0
Source: Table 4.5.9
Interpretation: The above table explains that about 32% of the respondents intends
to increase the change in number of cash management providers in the current year.
Analysis: The graph explains that about 27% of the respondents intends to increase
the change in number of cash management providers in the current year and the other
27% of the respondents do not want to do the same. Whereas, 32% of the respondents
intends to increase the change in number of cash management providers in the current
year and 14% of the respondents have no idea.
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4.5.10.When was the last time you re-evaluated your relationships with the cash managers
by issuing an RFP?
Table 4.5.10 Re-evaluated your relationships with the cash managers by issuing an
RFP
Choices Respondents
In the last 12 months 48%
12 to 30 months ago 36%
More than 30 months ago 16%
Graph 10
50%
40%
30%
20%
10%
0% Respondents
Source: Table 4.5.10
Interpretation: The above table explains that about 48% of the respondents re-
evaluated their relationships in the last 12 months with the cash managers by issuing
an RFP the last time.
Analysis: The above graph explains that about 48% of the respondents re-evaluated
their relationships in the last 12 months with the cash managers by issuing an RFP the
last time. While 36% and 12% of the respondents re-evaluated their relationships
from 12 to 30 months ago and more than 30 months ago with the cash managers by
issuing an RFP the last time.
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4.5.11.How responsive is the coordinator in handling your cash management

questions/issues?
Table 4.5.11 Handling of cash management issues.

Choices Respondents
Extremely responsive 32%
Very responsive 28%
Moderately responsive 18%
Slightly responsive 12%
Does not respond 10%
Graph 11
Does not respond 10

Slightly responsive 12
Moderately responsive 18
Very responsive 28
Extremely responsive 32
0 10 20 30 40
Ряд1
the coordinator is extremely responsive in handling your cash management
questions/issues.
Analysis: The above graph explains that about 32% of the respondents says that the
coordinator is extremely responsive, 28% very responsive, 18% moderately
responsive, 12% slightly responsive in handling your cash management
questions/issues. While 10% of the respondents do not respond for the same.
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4.5.12.On a scale of 1 to 5 (1 being slow and 5 being fast), How quickly are your
issues resolved?
Table 4.5.12 Issues quickly being resolved
Choices Respondents
1 (slow) 26%
2 22%
3 14%
4 22%
5 (fast) 16%
Graph 10
Respondents
5 (fast) 16
4 22
3 14
2 22
1 (slow) 26
how slow the issues are being solved in the company.
Analysis: The above graph explains that about 26% of the respondents says that the
coordinator is slow in resolving, 22% is not so slow, 14% moderately responsive,
22% is bit fast in resolving the issues. While 16% of the problems gets resolved
immediately as fast as possible.
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4.5.13.Are you satisfied with the level of service that is provided by the coordinator?
Table 4.5.13 Satisfaction attained by the level of service
Choices Respondents
Extremely satisfied 26%
Very satisfied 30%
Moderately satisfied 17%
Slightly satisfied 13%
Not satisfied 14%
Graph 13
Respondents
Not satisfied 14
Slightly satisfied 13
Moderately satisfied 17
Respondents
Very satisfied 30
Extremely satisfied 26
0 10 20 30 40
they are very satisfied with the level of service being provided by the coordinator.
Analysis: The above graph explains that about 26% of the respondents says that they
are extremely satisfied, 30% as very satisfied, 17% as moderately satisfied, 13% as
slightly satisfied with the level of service being provided by the coordinator. While
14% of the respondents are not satisfied for the same.
60 | P a g e
4.5.14.Providing exceptional service is always our goal, which would best describe the
level of service provided by the cash management coordinator?
Table 4.5.14 Level of service being provided by the cash management coordinator
Choices Respondents
Exceptional service 30%
Good Service 27%
Average service 17%
Below Average service 13%
Terrible service 13%
Graph 14
6
5 13
4 13
17 Respondents
3
2 27 Choices
1 30
0 20 40
Exceptional service is the best level of service being provided by the cash
management coordinator.
Analysis: The above graph explains that about 30% of the respondents says that
Exceptional service, 27% for good service, 17% for average service, 13% below
average service and the other 13% for terrible service is the best level of service being
provided by the cash management coordinator.
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4.5.15.As a result of economic recession, has SEPA become a non-event?
Table 4.5.15 SEPA as a non-event due to economic recession
Choices Respondents
Absolutely yes 45%
I don‘t know 37%
Not at all 18%
Graph 15
Respondents
18%
Absolutely yes
45%
I don’t know
37% Not at all
Interpretation: The above table explains that about 45% of the respondents agree
that SEPA has become a non-event as a result of economic recession.
Analysis: The above graph explains that about about 45% of the respondents agree
and 18% of the respondents do not agree that SEPA has become a non-event as a
result of economic recession. Whereas 37% of the respondents they are not aware of
the same.
62 | P a g e
Chapter – 5
5.1 Summary of findings:
 First question gives details about the gender of respondents, among 100 respondents
66% of Respondents are MALE, balance 34% of Respondents are FEMALE.
 Second question gives details about the specific industry which suits us, among 100
Respondents 28% of the Respondents suggest OEM is best to do, 13% of the
respondents suggested manufacturing of home goods, 15% respondents suggested that
industrial equipments, 24% of respondents suggested that plastic models, and balance
20% of Respondents suggested for metal fabrication.
 Third question gives details about how far our business is being done internationally,
among 100 respondents 65% of Respondents says yes, 35% of Respondents says no.
 Fourth question gives details about the revenue exceptions of respondents, among 100
respondents, 18% of the Respondents says that their revenue got down more than 10%
of last year, 16% of the Respondents says that their revenue got down up to 10% of
last year, 22% of the Respondents says that their revenue got increased more than
10% of last year, 26% of the Respondents says that their revenue got increased up to
10% of last year, 18% of the Respondents says that their revenue got down more than
10% of last year, and the balance 18% of the Respondents says that their revenue
remains unchanged,
 Fifth question gives the details about the respondents who were given top priorities,
among 100 respondents 15% of the Respondents were Developing new products and
services in response to changing consumption patterns, 18% of the Respondents were
Strategic planning, 12% of respondents were Reconfiguring supply chain, 18% of the
Respondents were Restructuring company to position for growth, 12% of respondents
were seeking M&A opportunities, 14% of the respondents were seeking new markets
for products and services and balance 11% of the Respondents were Cutting
operational costs.
63 | P a g e
 Sixth question gives the details about respondents economy level over next 12
months, among 100 respondents 32% of the respondents were declining, 40% of the
respondents were growing, and balance 28% of the Respondents were unchanged.
 Seventh question gives the details about the expected barriers that affect the business
growth, among 100 respondents 28% of the respondents said it's because of Monetary
exchange rate, 32% of the respondents said Pressure for increased wages, 24 % of the
respondents said Pricing pressures, and balance 16% of the respondents said Taxation
policies.
 Eighth question gives the details about the optimization regarding our company's
overall financial performance, among 100 respondents 34% of the respondents were
less optimistic due to external factors, 23% of the respondents were less optimistic
primarily due to internal/company - specific factors , 18% of the respondents were
More optimistic primarily due to external factors, 14% of the respondents were more
optimistic due to internal factors and balance 11% of the respondents remains
unchanged.
 Ninth question gives details about the intention of changing the number of cash
management providers, among 100 respondents 27% of the Respondents increased,
27% of the Respondents No Change, 32% of the Respondents Decreased, and
balance 14% of the Respondents Don't know.
 Tenth question gives details about the last re-evaluated your relationship with cash
managers by issuing RFPP, among 100 respondents 48% of the Respondents were
like in the last 12 months, 36% of the Respondents were like 12 to 30 months ago,
and balance 16% of the Respondents were like More than 30 months ago.
64 | P a g e
 Eleventh question gives details about how responsive is the co-ordination of cash
management issues, among 100 respondents 32% of the respondents said Extremely
Responsive, 28 % of the respondents said Very Responsive, 18% of the respondents
were like Moderately Responsive, 12% of the respondents were like Slightly
Responsive and balance 10% of the respondents were like Does not respond.
 Twelfth question gives details about how quick their issues are resolved, among 100
respondents 26% of the respondents scaled as slow(1), 22% of the respondents scaled
as less slow(2), 14% of the respondents scaled as moderate(3), 22% of the
respondents scaled as little fast(4) and balance 16% of the respondent scaled as
fast(5).
 Thirteenth question gives details about satisfaction of the respondents about the
service , among 100 respondents 26% of the respondents said Extremely Satisfied, 30
% of the respondents said Satisfied, 17% of the respondents were like Moderately
Satisfied, 13% of the respondents were like Slightly Satisfied and balance 14% of the
respondents were Not Satisfied.
 Fourteenth question gives details about the service level being provided to the
respondents, among 100 respondents 48% of the respondents said Exceptional
service, 27 % of the respondents said good service, 17% of the respondents were like
average service, 13% of the respondents were like below average service and balance
13% of the respondents were terrible service.
 Fifteenth question gives details about the economic recession, among 100
respondents, 45% of the respondents Absolutely agreed it, 37% of the respondents
were like I don't know, and balance 18% of the respondents were like not at all.
65 | P a g e
5.2 Suggestions:
 MAJESTIC POLYMER should try to match their Cash with the sales. In case of
surplus Cash, it should be invested either in securities or should be used to repay
borrowings.
 The company should try to prepare a proper ageing schedule of debtors. This will help
them to reduce the bad debts and speed up collection efforts.
 The company should be prompt in making payments so as to enjoy cash discount
opportunities
 The company should determine the optimum cash balance to be kept.
 The company followed an aggressive policy of financing working capital should try to
finance 50% of their working capital using long term source and improve their status.
 The current Ratio of 2:1 is considered normally satisfactory. MAJESTIC POLYMER
should try to improve the current ratio. So it should invest large amount in current
ratio, in order to maintain liquidity and solvency position of the concern.
 The company should try to follow a matching policy for financing current Assets (i.e.)
using both long term and short-term sources of finances.
66 | P a g e
5.3 Conclusion:
The Cash Management Analysis done on the financial position of the company has provided
a clear view on the activities of the company. The use of the ratio analysis, trend analysis,
Cash Flow Statement and other accounting and financial management helped in this study to
find out the financial soundness of the company.
This project was very useful for the judgment of the financial status of the company from the
management point of view. This evaluation proved a great deal to the management to make a
decision on the regulation of the funds to increase the sales and bring profit to the company.
Before I conclude I wish to convey my thankfulness in regard to the training given to me in

MAJESTIC POLYMER. It gave me extreme satisfaction and practical knowledge of the
financial activities carried out in the company. The kindness, attention, and immense co-
operation extended to me buy all the officials in the company made my project easy and
comfortable. Really it was a very pleasant experience in MAJESTIC POLYMER.
67 | P a g e
BIBILIOGRAPHY
BOOKS:
 S.N. Maheshwari, Financial management, Eleventh Edition 2006, Sultan Chaqnd
& Sons, Educational Publishers. New Delhi.
 I.M Pandey, Financial management, Ninth Edition, Vikas publishing house pvt
Ltd.
 M.Y Khan- P.K Jain, Management Accounting, Third edition, Tata Mc Graw-Hill
Publishing co. Ltd
 B.L. Gupta, Management of Liquidity and Profitability, Arihant Publishing
House, Jaipur.
WEBSITE:
 www.financeindia.org
 www.fao.org
JOURNALS:
1. Indian Public Finance Statistics, 2008-‗09, Govt. of India.
2. Finance Act, 2009.
3. Report of Comptroller and Auditor General of India, 2008.
4. Acharya Shuklendra and M.G.Gurha, Tax Planning under Direct Taxes, Modern
Publishers, Lucknow, 2001.
5. Ahmad, Ethtishan and Nicholas Stern Theory and Practice of Tax Reform in
Developing Countries, Cambridge, Cambridge University Press, 1991.
6. Anil Kumar Jain and Parul Jain Reforms in Direct Taxes through Union Budgets,
RBSA Publishers, Jaipur, 2007.
7. Anupama Gupta, A study of Personal Income Taxation in India, Progressive
Publishers, Calcutta, 1975.
8. Bird, Richard, The Administrative Dimension of Tax Reforms in Developing
Countries, Duke University Press, London,1989.
68 | P a g e
ANNEXURE
QUESTIONNAIRE
Please share your contact information in order to receive the survey results.
Name:
Company:
Email address:
1. Gender of Respondents
(a) Male
(b) Female
2. What is your specific industry? Please select the industry that best applies to our
company.
(a) Equipment – OEM
(b) Industrial Equipment
(c) Industrial Equipment
(d) Plastics/Injection Molding
(e) Metal Fabrication
3. Does your business have international operations?

(a) Yes
(b) No
4. What are your revenue expectations for 2017 compared to 2016?

(a) Increase more than 10%
(b) Increase upto 10%
(c) Decrease more than 10%
(d) Decrease upto 10%
(e) Remain unchanged
69 | P a g e
5. Currently, which of the following actions are among our company's top
priorities?
(a) Developing new products and services in response to changing consumption
patterns
(b) Strategic planning
(c) Reconfiguring supply chain
(d) Restructuring company to position for growth
(e) Seeking M&A opportunities
(f) Seeking new markets for products and services
(g) Cutting operational costs
6. What is your view of the local economy over the next 12 months?
(a) Declining
(b) Growing
(c) Unchanged
7. In 2017, expected barriers to business growth are: Select all that apply
(a) Monetary exchange rate
(b) Pressure for increased wages
(c) Pricing pressures (i.e., healthcare costs, increase in wages, interest rates)
(d) Taxation policies
8. How does your optimism regarding your company's overall financial

performance compare to the last 6 months?
(a) Less optimistic primarily due to external factors (i.e., economy, industry and
market trends)
(b) Less optimistic primarily due to internal/company-specific factors (i.e.
products, services, operations and financing)
(c) More optimistic primarily due to external factors (i.e. economy, industry and
market trends)
(d) More optimistic primarily due to internal factors (i.e. products, services,
operations and financing)
(e) Remains unchanged.
70 | P a g e
9. In the coming year, do you intend to change the number of cash management
providers?
a) Increase
b) No change
c) Decrease
d) Don't know
10. When was the last time you re-evaluated your relationships with the cash managers by
issuing an RFP?
a) In the last 12 months

b) 12 to 30 months ago
c) More than 30 months ago
11. How responsive is the coordinator in handling your cash management

questions/issues?
a) Extremely responsive
b) Very responsive
c) Moderately responsive
d) Slightly responsive
e) Does not respond
12. On a scale of 1 to 5 (1 being slow and 5 being fast), How quickly are your issues
resolved?
a) 1 (slow)
b) 2
c) 3
d) 4
e) 5 (fast)
71 | P a g e
13. Are you satisfied with the level of service that is provided by the coordinator?
a) Extremely satisfied
b) Very satisfied
c) Moderately satisfied
d) Slightly satisfied
e) Not satisfied
14. Providing exceptional service is always our goal, which would best describe the level
of service provided by the cash management coordinator?
a) Exceptional service
b) Good Service
c) Average service
d) Below Average service
e) Terrible service
15. As a result of economic recession, has SEPA become a non-event?
a) Absolutely yes
b) I don‘t know
c) Not at all
72 | P a g e

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A Project Report on

AN ANALYSIS ON CASH MANAGEMENT FOR MAJESTIC POLYMERS

DEPARTMENT OF MANAGEMENT STUDIES

In partial fulfillment of the requirements for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

INTERNAL GUIDE EXTERNAL GUIDE

Signature of Internal Guide Signature of HOD Signature of Principal

I express my deep sense of gratitude to chairman MR. MOHAN MANGHNANI and

I express my special thanks to my internal guide PROF.TEJAS B VYAS, faculty

USN NO: 1NZ15MBA81

CHAPTER TITLE PAGE NO.

2. INDUSTRY AND COMPANY PROFILE 10-25

3. THEORETICAL BACKGROUND OF THE 26-36

4. DATA ANALYSIS AND INTERPRETATION 37-62

5. FINDING, SUGGESTION AND CONCLUSION 63-67

Table No. Particulars Page Nos.

Table – 4.5.1 Table showing gender of the Respondents. 46

Table – 4.5.2 Table showing choice of Industry for our 47

Table – 4.5.3 Table showing business having interntional 48

Table – 4.5.4 Table showing revenue expections for 49

Table – 4.5.6 Table showing following actions among 52

Table – 4.5.9 Table showing change in number of cash 56

Table – 4.5.14 Table showing level of service being 61

Table – 4.5.15 Table showing SEPA as a non-event due to 62

Graph No. Particulars Page Nos.

Graph – 4.5.1 Graph showing gender of the Respondents. 46

Graph – 4.5.2 Graph showing choice of Industry for our company. 47

Graph – 4.5.3 Graph showing showing business having interntional 48

Graph – 4.5.4 Graph showing revenue expections for 2017. 49

Graph – 4.5.7 Graph showing expected barriers to business growth. 53

Graph – 4.5.8 Graph showing company’s overall financial performance. 54-55

Graph – 4.5.9 Graph showing change in number of cash management 56

Graph – 4.5.11 Graph showing handling of cash management issues. 58

Graph – 4.5.12 Graph showing issues quickly being resolved. 59

Graph – 4.5.13 Graph showing satisfaction attained by the level of service. 60

Graph – 4.5.15 Graph SEPA as a non-event due to economic recession. 62

1.2 NEED FOR THE STUDY

1.3 OBJECTIVES OF MAJESTIC POLYMERS

1.4 Scope of the Study

o It helps to take short term financial decision.

1.5 METHODOLOGY ADOPTED

1.5.2 Research Design

1.5.3 Data Collection

1.5.4 Tools used in the Analysis

1.6 LITERATURE REVIEW

compressive strength property which is insufficient to give clear picture of concrete

1.7 LIMITATION OF STUDY

Strategically located at Bommasandra Industrial Estate, in Bangalore, we cater to different

To be leader in providing Quality Products in a cost effective manner enhancing Competitive

2.4 Products/Services profile areas of operation:

2.5 Infrastructure facilities:

2.5.1 Physical space infrastructure

 Ergonomic furniture to seat and tables to work on.

2.5.2 Security Infrastructure

 CCTV surveillance for better security of our equipment as well as you

2.5.3 Network Infrastructure

 We use CAT6 for network cables.

2.5.4 Machineries available

2.6 Competitors’ information:

 Scorpion Industrial Polymers Pvt. Ltd:

In the process of continuous development of our Quality Standard, we have accredited

 Alpha Polymers Teck Pvt. Ltd:

 Formulated Polymers Ltd.:

FORMULATED POLYMERS LIMITED, the professionally managed company