A

Summer Training Report (501)

at

Submitted in partial Fulfilment of

The requirement for the Degree of

Bachelor of Business Administration (BBA)

Submitted By:
MR. HARSH LATHIA – 2020008869, (176)
MS. KHUSHI AHIR - 2020008703, (011)
MS. MANISHA BOTHRA – 2020008744, (049)
MS. DISHA DHANWANI - 202013846, (076)
MS. ADITI MISHRA – 2020008893, (199)

Under the Guidance of:

Dr. Priti Desai
Assistant Professor
SDJ INTERNATIONAL COLLEGE, VESU

VEER NARMAD SOUTH GUJARAT UNIVERSITY, SURAT

JULY - 2022
 DECLARATION

We, the undersigned students of TYBBA (Sem. V), hereby declare that Summer Training

Report (STR - 501) prepared by us at below mentioned company is the original work carried

out by us and also is the result of our hard work and compliance of all the policies and

guidelines framed by the University, college and the company concerned. We also declare that

this report has been created by us and has not been published anywhere else other than

submitted to our SDJ International College, Vesu, Surat.

SP ID, (Roll No) Name of Student Name of Company Signature

2020008869, (176) Harsh Lathia

2020008703, (011) Khushi Ahir

VELOX
2020008744, (049) Manisha Bothra
AUTOMATION

2020013846, (076) Disha Dhanwani

2020008893, (199) Aditi Mishra

Date:
Place: Surat
 ACKNOWLEDGEMENTS

At this point, when we are about to finish our project work, it is our privileged opportunity to
thank all those people for their contribution provided to this Summer Training work.

Firstly, we wish our heartfelt thanks to in-charge principal of this college Dr. Aditi Bhatt, who
always motivate us to fulfil our dreams and lead us in the direction of growth. She has given
her valuable inputs for effective completion of this project.

Next, we would like to thank our IQAC Coordinator Dr. Vaibhav Desai, who always work
and think in the direction of betterment of the student and institute as well as supporting us
with all the necessary resources to finish our three golden years of graduation.

We cannot forget the contribution of my project guide Dr. Priti Desai, without the support of
whom we would have never completed this report. Her constant help, guidance and continuous
teaching has given us so many inputs on academic as well as non-academic front.

We also would like to thank Dr. Milind Parekh for availing necessary help during Summer
Training Report in the right direction.

I would also like to thank Mr. Viral Patel, Assistant Librarian, with the effort of whom, we
could get the insights and learning from past years report.

We thanks to VELOX AUTOMATION PVT LTD, Company Mentor, Surat. For his valuable
and continuous guideline for preparation of Summer Training report.

July, 2022 Harsh Lathia

Surat Khushi Ahir

Manisha Bothra

Disha Dhanwani

Aditi Mishra
 EXECUTVE SUMMARY

This is an attempt to know how the theories can be applied to practical

situation. As a student of BBA, it is a part of study for everyone to undergo
COMPREHENSIVE PROJECT.

“Velox Automation Private Limited” are a leading Manufacturer of a wide range

of Turnkey Projects, Omron Relays, Electric Enclosures, etc. Situated in Surat
(Gujarat, India), we have constructed a wide and well functional infrastructural unit
that plays an important role in the growth of our company. They offer these products
at reasonable rates and deliver these within the promised timeframe. In addition to
this, they are also involved in offering best -in-class Electrical and Automation
Services and Software Development Services. Their esteemed clients.

Automation is all around the world. It is adopted by number of areas such as manufacturing,
transport, utilities, defence, facilities, operations and lately, information technology.
Automation includes a very broad range of technologies including robotics and expert
systems, telemetry and communications, electro-optics, cybersecurity, process
measurement and control, sensors, wireless applications, systems integration, test
measurement, even marketing, sales function and many more. Automation gives surety that
the techniques are used effectively in the delivery of products and services.

Velox products and services include factory, plant and process automation, drive solutions,
and low voltage electrical switch boards that are engineered in-house. Backed by a team of
thorough professionals, VELOX Automation equips clients with systems and products that
make their business more productive, accurate and efficient. velox solutions assure high
system availability and contribute to their customer’s business value chain.
 TABLE OF CONTENT

CHAPTER 1: GENERAL INFORMATION

NAME AND LOCATION OF THE COMPANY______________________________01

NAME AND LOCATION OF OTHER BRANCHES__________________________ 01

YEAR OF ESTABLISHMENT____________________________________________01

INTODUCTION_______________________________________________________ 01

BRIEF HISTORY______________________________________________________ 02

NAME OF FOUNDERS AND PROMOTERS________________________________04

VISION STATEMENT__________________________________________________04

MISSION STATEMENT AND VALUE PROPOSITION_______________________04

ORGANISATIONAL STRUCTURE_______________________________________05

SEVICES AND CLIENTS_______________________________________________06

SUCCESS STORIES___________________________________________________ 07

OTHER DETAILS_____________________________________________________09

SWOT ANALYSIS____________________________________________________ 10

CHAPTER 2: FINANCE DEPARTMENT______________________ 12

ACTIVITIES AND SUB-ACTIVITIES OF ACCOUNTS ______________________13

SOFTWARE / ERP____________________________________________________ 13

TRADING ORDER PROCESS IN SYSTEM________________________________14

SYSTEM MODULE___________________________________________________ 14

DEPARTMENT’S KEY OBJECTIVES ____________________________________15

BALANCE SHEET____________________________________________________ 16

PROFIT AND LOSS ___________________________________________________18

CASH FLOW STATEMENT______________________________________________31

RATIO ANALYSIS _____________________________________________________34

COMPARATIVE STATEMENT ___________________________________________36

INTERPRETATION OF FINANCIAL STATEMENT__________________________ 38

INTERPRETATION OF RATIOS __________________________________________38

CHAPTER 3: MARKETING DEPARTMENT____________________40

LIST OF PRODUCTS AND SEVICES ______________________________________ 41

NUMBER OF CUSTOMERS/OVERSEAS CUSTOMER________________________ 43

MARKETING PLAN_____________________________________________________44

MAJOR COMPETITORS__________________________________________________46

PRODUCT LIFE CYCLE (PLC) ____________________________________________47

MARKET SEGMENTATION______________________________________________ 48

POSITION STRATEGY___________________________________________________49

PRICING METHOD FOLLOWED__________________________________________ 49

SALES FORCE MANAGEMENT___________________________________________49

KEY-FUNCTIONS OF MARKETING DEPARTMENT_________________________ 49

QUALITY SYSTEM PROCEDURE_________________________________________ 50

CHAPTER 4: HUMAN RESOURCE DEPARTMENT______________53

RECRUITMENT PROCEDURE ____________________________________________54

NUMBER OF EMPLOYEES_______________________________________________56

ATTENDANCE MAINTENANCE__________________________________________56

TRAINING GIVEN______________________________________________________57

LEAVE RULES_________________________________________________________58

PERFORMANCE APPRAISAL____________________________________________60
SALARY AMINISTRATION_____________________________________________ 63

INVESTMENT DECLARATION__________________________________________ 63

REWARDS AND RECOGNITION_________________________________________63

SPECIFIC HR-POLICIES________________________________________________ 64

GRIEVANCE HANDLING PROCEDURE___________________________________68

OTHER DETAILS______________________________________________________69

CHAPTER 5: PRODUCTION DEPARTMENT__________________ 73

RAW MATERIALS USED_______________________________________________74

MACHINES USED_____________________________________________________75

PRODUCTS AND SEVICES PRODUCED__________________________________75

PROCESS USED______________________________________________________ 76

MATERIAL HANDELING EQUIPMENT__________________________________ 79

INVENTORY CINTROL METHOD_______________________________________79

QUALITY CONTROL METHOD_________________________________________79

NAME AND ADDRESS OF OTHER PLANT_______________________________ 79

CHAPTER 6: OTHER DEPARTMENTS_______________________ 80

CHAPTER 6.1: PURCHASE/STORE DEPARTMENT______________________ 81

PURCHASE PROCEDURE ______________________________________________82

CLASSIFICATION OF GOODS__________________________________________ 84

PURCHASE LEAD TIME_______________________________________________ 85

ORDERING COST AND CARRYING COST________________________________85

GENERAL DETAILS __________________________________________________ 85

LIST OF SUPPLIERS___________________________________________________85

RE-ORDERING TIME__________________________________________________87
CHAPTER 6.2: CORPORATE SOCIAL RESPONSIBILTY________________ 88

CSR ACTIVITIES DONE BY COMPANY ________________________________ 89

CHAPTER 6.3: PROJECT DEPARTMENT______________________________92

ROLES AND RESPONSIBILTIES_______________________________________ 93

PROJECT PATH FLOW_______________________________________________ 94

CHAPTER 6.4: SAFETY DEPARTMENT_______________________________ 95

NUMBER OF FIRE EXTINGUISHERS___________________________________96

SAFETY EQUIPMENT PROVIDED TO WORKERS________________________96

WORKMEN’S COMPENSATION POLICY_______________________________ 96

LIST OF LIFE INSURANCE POLICY____________________________________96

LIST OF GENERAL INSURANCE POLICY_______________________________96

HEALTH AND SAFETY POLICY_______________________________________97

CHAPTER 7: CONCLUSION________________________________98

BIBLIOGRAPHY_________________________________________ 100

ANNEXURE______________________________________________101
 CHAPTER

GENERAL INFORMATION
NAME & LOCATION OF COMPANY:
VELOX Automation Pvt. Ltd.

SURAT - Plot No. 612, Road no. 6, GIDC Industrial Estate,

Sachin, Surat – 394230,

Gujarat, India.

NAME & LOCATION OF OTHER BRANCHES:

VELOX Automation Pvt. Ltd.

AHMEDABAD - A-209, Safal Pegasus, Anandnagar Road,

Prahlad Nagar, Ahmedabad – 380015,

Gujarat, India.

YEAR OF ESTABLISHMENT:

VELOX Automation Pvt. Ltd., founded in 1997.

INTRODUCTION:

Velox Automation is one of the leading companies with diversified offerings in the field of
Industrial Automation, Internet of Things, Electrical Control Panels, Turnkey Projects, and
Trading of Industrial Components & Smart City Solutions.

They strongly believe in partnering with their clients and add value to their business with
expertise. Their long term association with India’s esteemed organisations is a testimonial of
the same.

They have proved their Mattel in diverse industry segments like Metals, Power, Food and
Beverages, Paper, Chemical, Material Handling, Pharmaceutical, Packaging, Machine Tools,
Automotive, Sugar, Cement, Foundries, Energy and Textiles with our reliable, innovative &
cost-effective solutions. Projects with diverse requirements from Greenfield to retro fitment,

1
turnkey solutions, migration / up gradation are created with equal competence levels. Letters
of appreciation from their valued customers speak for their achievements.

Chemical Process automation is the core area of Velox. Converting Mechanical drives into
electrical motor run system has been their strength.

Velox has many implementation of wastewater & sewage treatment automation systems at
various locations. City wide water supply flow management solution with central command
centre is one of our major Smart City Solution. They have successfully implemented many
green fields as well as up gradation project of Crane Automation. They offer Common Internet
of Things (IoT) based part management systems which links multiple crane systems.

They have successfully provided Automation System for various process of power plants like
DM Water plant, Diverted Damper, HP/LP Bypass Systems, Heat recovery systems.

BRIEF HISTORY:

Since establishment of the company, it has never looked back and achieved new milestones
year on year. Their objective is to add value to the customer value chain by providing high
quality and efficient automation and switchgear solution using the latest cutting- edge
technology to their customers. Company, in line with objective, has strategically expanded its
wings by expanding infrastructure, strengthening business QMS, addition of new business line,
collaborating with different industry leaders.

They create bespoke solutions for Industrial Automation and LV switchboards across the
industry segments. They have earned the credibility of being the most dependable partner in
the industry with family of 120 motivated team members. Their competent engineers with
thorough process/product knowledge, proven track record across the industries, process driven
approach, robust project management & adaption of latest technology in solution
implementation makes them preferred partner of their valued clients.

VELOX Automation, they intend to maintain their legacy of long-term business association
with their partners and improve further, by becoming more system driven, efficient and agile.

2
HISTORY:

3
NAME OF FOUNDERS AND PROMOTERS:

OWNER - Janak Pravin Chandra Jariwala

COMPANY PROMOTERS – Shah Mehul Ashok Kumar

Chetan Jariwala

VISION STATEMENTS:

To be a company at the forefront, offering the best solutions to industry, smart city projects,
utilities and the services sector, at a reasonable price and adding value to all our stakeholders.

MISSION STATEMENTS:

 They aim to be a leading solution provider for automation and electrical systems,
globally.
 They aim to be the partner of choice for their clients by offering them the latest
technologies and value added solutions.
 They aim to promote conservation of resources, protection of the environment and
encourage ethical business practices. Their Strength lies in their workforce and they
aim to nurture, train and mentor them.
 Contribute actively in development of our nation by promoting innovation and
developing skilled workforce.

VALUE PROPOSITION:

They aim to integrate their client’s businesses with efficient systems and products, for high
productivity and profitability. The competition is tough and so are they, when it comes to
enhancing their client’s businesses.

4
MOVING FROM STRENGTH TO STRENGTH:

Cotmac Surat was a joint venture between the Cotmac Group and the Jariwala family. With
new business goals in mind, the business in the name of Cotmac Electronics (Surat) [Link],
has been acquired under the leadership of [Link] P. Jariwala.

Cotmac Surat is now VELOX Automation. VELOX is a Latin word for swift or rapid, and
defines our new attributes and business strategies. VELOX Automation will retain the
businesses of Cotmac Surat, Cotmac Ahmedabad.

INFRASTRUCTURE FACILITIES:

VELOX has its state of the art manufacturing facilities located at Surat, Gujarat. Facility is
built over 45,000 [Link] area. Their engineering and design cells are housed with the project and
execution team, for smooth coordination and quick results. A team of more than 100 energetic
and efficient members makes us an able partner for their clients in meeting their goals. They
also have their Sales & Support office at Ahmedabad.

ORGANISATIONAL STRUCTURE:

5
SERVICES:

Velox Automation being the Solution provider offers complete basket of services which not
only ensures the efficient implementation but also optimum performance of the system post
deployment. Velox also provides the. services related to electrical eco-systems of the
organisation and upgrade the same for the best performance.

TEAM VELOX:

Velox Automation has Team of 120+ dedicated and motivated employees who are experts in
their fields and having wide experience. Velox leadership team comprises of qualified,
experienced and highly professional executives. Velox count on them for its success.

CLIENTS:

6
SUCCESS STORIES:

SMART CITY-WATER DISTRIBUTION SCADA

Automation and centralized monitoring of the system are changing the approach of municipal
bodies towards high efficiency and low wastage.

Monitoring the complete water flow system starting with the intake of water from the water
body like river or lake to processing the water & make it useable to the distribution up to the
consumers is the need of the hour.

To plug all leakages or wastage is equally essential for sustaining the supply today and to plan
for the future.

Velox has been at the forefront of water technology projects like water and wastewater
treatment, tertiary treatment, effluent treatment and water pumping stations.

CUSTOMER BENEFITS:

 The new system brought total transparency in the clean water production and
usage data in the city.

 Integrated alarm management helped in fast action and lower downtime

 Centralized data helped the corporation in devising future strategies of

water management

 The system became very efficient and wastages were controlled.

7
SIEMENS PANEL:

SIEPAN 8PU:

Siemens 8PU design for low-voltage switchboard is the outcome of years of manufacturing
experience with switchgear and control gear assemblies, backed by thorough investigation of
current market requirements and practices. In the industry, it is now a benchmark for proven
performance.

The standard design along with scalability ensures seamless future expansion.

It’s modular nature, designed to operate in challenging conditions of high ambient temperature
and dust, supported by modern manufacturing practices, stringent quality checks & thorough
type testing makes these panels unique. They are widely used across various industries such as
cement, steel, refinery, oil and gas, pharmaceuticals, chemicals, food and beverages, data
centres, hotels, hospitals, airports, metro rail projects. More than 100,000 LV switchboards
have been deployed in these industries for maximum reliability and performance.

VELOX Automation amongst the select few Licensed Partners for the Siemens SIEPAN 8PU
totally type tested (TTA) low voltage switchboards. They offer panels with fixed as well as
draw-out execution.

Their offerings include Power Control Centres, Motor Control Centres, Intelligent Motor
Control Centres and PFC solutions.

These panels will be totally compliant and tested according to the latest IEC 61439-1 and 2 and
are fully type tested for both Aluminium and Copper bus-bar systems.

8
OTHER DETAILS:

Company has completed more than 25 years.

This company was formerly known as COTMAC.

Company Category: Company Limited by shares.

Company Sub-Category: Non – Government company.

EXPERTISE:

 Metal & Mining

 Chemical
 Pharmaceuticals
 Textile
 Dairy
 F&B Packing
 Water & Waste Water
 Oil & Gas
 Material Handling & Port
 Glass
 Pulp & Paper
 Power Plant
 Other Sectors

OFFERINGS:

 Automation & Drive Solution

 Industrial Internet of Things (IIoT)
 Medium Voltage Panels
 LV Switchboards & Busducts
 Turnkey Projects
 Smart City Solutions
 Power Quality & Energy Management Systems

9
SWOT ANALYSIS:

SWOT Analysis is a strategic planning tool that can be used by Velox Automation managers
to situational analysis of the firm.

It is a handy technique to map out the present Strength, Weakness, Opportunities and
[Link] is facing in its current business environment.

STRENGTHS:

● Elimination of repetitive and monotonous work activities

● Securing competitive advantage by improving PLC performance and reducing
production costs
● Elimination of activities in a hazardous work surroundings
● Reducing and simplifying work which were having huge load
● Reducing risk of disease (chemical plants)
● Reducing Unilateral physical workload
● Robotics: technology leader
● Extensive programming, plant engineering & construction expertise
● Efficient production & lead times
● Strong brand presence and efficiency in operations

WEAKNESS:

● Lack of work experience to use a PLC

● Lack of employee training for new jobs

10
 ● Higher potential for security risk in collaborative work environment
● Unexamined possible burdens of PLC
● Development of sales channels for IOT
● Huge dependency on third-party providers.
● Less focus on financial planning, current assets & liquid ratios suggests more scope of
more Cash efficiency.
● High investment level
● Nationalization of mining activities in many countries affects operations

OPPORTUNITIES:

● To implement distinct pricing strategies as a result of digitization

● Creation of new jobs
● The new opportunities will create a level playing field for all the players in the industry
● Manufacturing innovation in the automobile industry
● Responding to the challenges of Industry 4.0
● Increasing competitiveness
● Expand further into general industry
● The low inflation rate bring more stability in the market, enable credit at lower interest
rate to the customers

THREATS:

● Lack of qualified workers

● Rising raw material can pose a threat to the profitability.
● Zero Day Vulnerabilities
● Database Injection
● Communication Protocol Issues
● Non-prioritization of Task
● Fast tightening rules in phrases of occupational health and safety
● Governments are under pressure for cutting down the costs, which may slow down
replacement sales and put overall sales at risk

11
 CHAPTER
2

FINANCE DEPARTMENT

12
ACTIVITIES AND SUB ACTIVITIES OF ACCOUNTS:

The main role of the Finance department is to maintain all books of accounts and provide
information of all financial performance in form of MIS Report, Trading, Profit and Loss
Account, and Balance Sheet. Prepares cash flow – budgets to predict future Income and
Expenditure.

 Vendor / Supplier Bill booking

 Sales Invoice preparing as per customer order
 Payment release as per vendor / supplier bills
 Payment receipt as per sales invoice
 Employee expenses booking and release payment
 MIS vendor / supplier bill booking
 Material receipt & dispatch process through system & physically
 TDS & TCS Payment & Return
 GST return
 Sales Tax Assessment
 Export / Import Document submit to Bank
 Bank Guarantee Processing / LC Documentation
 Internal Audit - Quarterly
 External Audit – Yearly
 MIS report monthly submit to management

SOFTWARE / ERP:

ERP System Name - IMMS (Integrated Manufacturing Management System)

IMMS system vendor name – Source Pro InfoTech [Link]

13
TRADING ORDER PROCESS IN SYSTEM:

Trading Order Process in system

Process Prepare BY

Sales Order receipt Entry Sales Dept.

Order Acknowledgement File Sales Dept.

(OAF)

Indent Sales Dept.

( Request for Material
Purchase)

Purchase Order Entry Sales Dept.

Goods Receipt Note Entry Account Dept.

Allocation System Auto Allocate

Delivery Challan Account Dept.

Sales Invoice Account Dept.

SYSTEM MODULE:

 Engineering module
 Sales module
 Purchase module
 Store and Inventory
 Quality control module

14
  Planning module
 Production module
 Finance module
 Administrator module
 Data upload
 Sub contract

DEPARTMENT’S KEY OBJECTIVES:

Department key objectives and roles in contributing to achieve organizations vision, mission
and business goals.

 Provide Quality Data to organization’s various stakeholders for Data Analysis, decision
making and future planning.
 Corporate governance maintaining as per Company law, Taxation department,
Registrar of companies etc.
 Timely payment to Internals, External parties and Govt. bodies.

15
BALANCE SHEET OF VELOX AUTOMATION PVT LTD. AS
ON 31 MARCH 2021:

Particulars Note As at 31st As at 31st

No March 2021 March 2020

(Rs) (Rs)

I. EQUITY AND LIABILITIES

(1) Shareholders` Funds

(a) Share Capital 1 9,60,000 9,60,000
(b) Reserves and Surplus 2 4,79,39,326 4,21,38,129

Total 4,88,99,326 4,30,98,129

(2) Current Liabilities
(a) Short-Term Borrowings 3 1,65,16,393 1,53,82,324
(b) Trade Payables 4
(i) Outstanding dues of Micro, Small and 34,28,441 22,95,544
Medium enterprises
(ii) Outstanding dues of other creditors 6,24,03,481 5,66,68,441
(c) Other Current Liabilities 5 1,10,36,186 1,10,65,269
(d) Short-Term Provisions 6 25,65,407 27,17,873

Total 9,59,49,908 8,81,29,451

Grand Total 14,48,49,234 13,12,27,580

II. ASSETS

(1) Non-current Assets

(a) Property, Plant and equipment 7
(i) Tangible Assets 1,26,45,107 1,38,25,274
(ii) Intangible Assets 25,66,066 28,70,267
(iii) Intangible Assets Under Development -
(b) Non-Current Investments 8 6,480 32,73,973

16
 (c) Deferred Tax Assets (Net) 9 3,40,242 3,09,748
(d) Long Term Loans and Advances 10 20,47,354 17,97,154

Total 1,76,05,248 2,20,76,416

(2) Current Assets

(a) Inventories 11 2,00,33,096 4,41,64,097
(b) Trade Receivables 12 10,03,69,803 5,74,58,285
(c) Cash and Cash Equivalents 13 37,82,929 21,59,376
(d) Short-Term Loans and Advances 14 25,41,311 11,41,325
(e) Other Current Assets 15 5,16,847 42,28,081

Total 12,72,43,986 10,91,51,164

Grand Total 14,48,49,234 13,12,27,580

17
 PROFIT AND LOSS - VELOX AUTOMATION PVT. LTD. (RS):

Note
Particulars 2020-21 (Rs) 2019-20 (Rs)
No

Revenue from Operations 17 35,30,56,424 34,97,71,955

Other Income 18 2,05,589 2,78,677

TOTAL REVENUE 35,32,62,013 35,00,50,632

Expenses :
Cost of Materials Consumed 19 28,18,49,210 30,25,43,599
Changes in Inventories of Finished Goods, 20
1,02,63,859 (95,51,843)
Work-in-Progress and Stock-in-Trade
Employee Benefit Expense 21 3,23,47,568 2,77,29,992
Financial Costs 22 18,04,429 24,55,631
Depreciation and Amortization Expense 23 22,54,384 25,82,124
Other Expenses 24 1,47,36,545 1,67,84,762

TOTAL EXPENSES 34,32,55,995 34,25,44,266

Profit/(Loss) Before Exceptional and

1,00,06,018 75,06,366
Extraordinary Items and Tax
Prior Period Adjustments 6,000 281
Exceptional Items 22,12,097 -
Profit/(Loss) Before Extraordinary Items and
77,87,921 75,06,085
Tax

Profit/(Loss) Before Tax 77,87,921 75,06,085

Tax Expense :
- Current Tax (21,11,245) (22,80,000)
- Deferred Tax 30,494 (3,74,594)

18
-Profit/(Loss) after Tax Adjustments
-Excess/(Short) Provision for Taxation in earlier
94,027 (1,93,769)
years
-Profit/(Loss) After Tax for the Period from
58,01,197 46,57,721
Continuing Operations
-Profit/(Loss) for the Period 58,01,197 46,57,721

19
 NOTES – VELOX AUTOMATION PVT. LTD. (RS):

VELOX AUTOMATION PVT. LTD.

As at 31st March As at 31st March

Note
Particulars 2021 2020
No
(Rs) (Rs)
1 (a)Share Capital
Equity Share Capital
Authorised Share capital 15,00,000 15,00,000

Issued, subscribed & fully paid share capital 9,60,000 9,60,000

Total 9,60,000 9,60,000

(b)The reconciliation of the numbers of shares outstanding

As at 31st March As at 31st March

2021 2020
Equity Shares at the beginning of the year 96,000 96,000
Add: Equity Share Issue - -
Less: Equity Share bought back - -
Equity Shares at the end of the year 96,000 96,000

(c) Rights, preferences and restrictions attached to shares

Equity shares: There is only one class of Equity Shares having a par value of Rs.100
(Previous year Rs. 100 per share). Each holder of equity shares is entitled to one vote per
share held and is entitled to dividend, if declared at the Annual General Meeting. In the event
of liquidation of the Company, the holders of equity shares will be entitled to receive the
remaining assets of the Company, after distribution of all preferential amounts. The
distribution will be in proportion to the number of equity shares held by the shareholders.

20
 (d)The details of Shareholders holding more than 5% shares
As at 31st March As at 31st March
2021 2020
Number % held Number of %
of Shares Shares held
XXXYZ 17,280 18 17,280 18
XXXYZ 67,200 70 67,200 70
XXXYZ 11,520 12 11,520 12

(e) shares in the preceding five years allotted as fully paid up without payment being
received in cash / bonus shares / bought back
As at 31st March As at 31st March
2021 2020
(A) Aggregate number and class of shares - -
allotted as fully paid-up pursuant to
contract(s) without payment being received
in cash.
(B) Aggregate number and class of shares - -
allotted as fully paid-up by way of bonus
shares.
(C) Aggregate number and class of shares - -
bought back.

2 Reserves and Surplus

Other Reserve / fund 41,78,533 41,78,533
Surplus\(Loss) 4,37,60,793 3,79,59,595
Total 4,79,39,326 4,21,38,129

Other Reserve / Fund

Opening balance 41,78,533 41,78,533
Balance /Total 41,78,533 41,78,533

21
 Surplus
Opening balance 3,79,59,595 3,33,01,874
Net Profit/(Net Loss) For the current year 58,01,197 46,57,721
Balance /Total 4,37,60,793 3,79,59,595

3 Short-Term Borrowings
Loans payable on demand :
ICICI Bank (CAR LOAN) - 39,463
Bank Of Baroda OD A/C 1,285
HDFC Bank CC A/C - 58,07,553 11,30,705
Flexi Loan (Standard Chartered Bank) 1,07,07,555 1,42,12,156
Total 1,65,16,393 1,53,82,324

4 Trade Payables.
Trade Payables. 6,58,31,922 5,89,63,985
Total 6,58,31,922 5,89,63,985

Trade Payables.
As at 31st March As at 31st March
2021 2020
(i) Outstanding dues of Micro, Small and 34,28,441 22,95,544
Medium Enterprises
(ii) Outstanding dues of other creditors
-Sundry Creditors 6,24,03,481 5,66,68,441
Total 6,58,31,922 5,89,63,985

22
 Disclosures relating to outstanding dues
As at 31st March As at 31st March
of Micro, Small and Medium Enterprises
2021 2020
(MSME)
(a) the principal amount and the interest due - -
thereon remaining unpaid to any MSME
supplier at the end of accounting year
(b) the amount of interest paid in terms of - -
section 16 of the Micro, Small and Medium
Enterprises Development Act, 2006, along
with the amount of the payment made to the
MSME supplier beyond the appointed day
during the accounting year
(c) the amount of interest due and payable - -
for the period of delay in making payment
(which have been paid but beyond the
appointed day during the year) but without
adding the interest specified under the
Micro, Small and Medium Enterprises
Development Act, 2006;
(d) the amount of interest accrued and - -
remaining unpaid at the end of accounting
year
(e) the amount of further interest remaining - -
due and payable even in the succeeding
years for the purpose of disallowance of a
deductible expenditure under section 23 of
the Micro, Small and Medium Enterprises
Development Act, 2006.

5 Other Current Liabilities

Other payables 1,10,36,186 1,10,65,269
Total 1,10,36,186 1,10,65,269

23
 Other Current Liabilities
As at 31st March As at 31st March
2021 2020
-Advances from Customers
-Advances from Customers 22,32,225 66,76,173
-Statutory Liabilities
-TCS on sales 206C(1H) 46,424
-GST Payable(GST input Reverse) - 23,681
-SGST Payable 89,629 -
-E.S.I Payable (Employee) 4,945 4,592
-E.S.I Payable (Employer) 20,549 19,160
-Professional Tax Payable. 13,554 13,314
-Provident Fund payables 1,94,709 1,90,986
-TDS Payable 15,28,975 2,85,668
-Other
-Bonus Payable 6,51,367 6,34,798
-Payable to Employees 37,77,541 12,15,871
-PERFORMANCE-BONUS PAYABLE 3,16,934 2,97,442
-Provision for Audit fees 45,000 36,000
-Provision for expense 2,69,597 85,146
-Salary Payable 18,44,736 15,82,438
Total 1,10,36,186 1,10,65,269

6 Short-Term Provisions
Provision for Leave Encashment 4,54,162 3,37,187
Provision for Income Tax 21,11,245 22,80,000
Provision for Gratuity - 1,00,686
Total 25,65,407 27,17,873

8 Non-Current Investments
Other non-current investments 6,480 32,73,973
Total 6,480 32,73,973

24
 As at 31st March As at 31st March
Non-Current Investments 2021 2020
Other non-current investments
- of Sachin Industrial Bank Ltd. 6,480 6,480
- of Velox Automation FZE - 32,67,493
Total no quoted investment 6,480 32,73,973

9 Deferred Tax Assets (Net) 3,01,225 3,09,748

Total 3,01,225 3,09,748

10 Long Term Loans and Advances

Unsecured
Security Deposits 6,10,166 5,99,966
Other loans and advances 14,37,188 11,97,188
Total 20,47,354 17,97,154

Long Term Loans and Advances

As at 31st March As at 31st March
2021 2020
-Advance Income Tax
-Advance Income Tax (A.Y 2019-20) 13,20,000 10,80,000
-Other
- Income Tax Receivable 1,17,188 1,17,188
Total 14,37,188 11,97,188

11 Inventories
Work in progress 36,03,411 1,26,84,962
Stock in trade 1,64,29,685 3,14,79,135
Total 2,00,33,096 4,41,64,097

25
12 Trade Receivables

Outstanding for more than 6 Months 20,97,752 17,65,220

Other Sundry Debtors 9,86,86,770 5,56,93,065
Less: Bad Debt during the year 4,14,719 -
Total 10,03,69,803 5,74,58,285

13 Cash and Cash Equivalents

Balances with banks 37,54,168 21,15,405
Cash on hand 28,761 43,970
Total 37,82,929 21,59,376

14 Short-Term Loans and Advances

Others 25,41,311 11,41,325
Total 25,41,311 11,41,325

Short-Term Loans and Advances

As at 31st March As at 31st March
2021 2020
-Others
-Interest Receivable 2,24,404 63,643
-Remittance Receivable(Velox Automation
10,44,940
FZE)
-Prepaid Expenses 5,25,855 5,86,379
-TDS receivable 5,93,171 4,91,201
-TCS on Purchase [206C(1H)] 1,52,941 -
-SGST receivable - 101
Total 25,41,311 11,41,325

15 Other Current Assets

Other Current Assets 5,16,847 42,28,081

26
 Total 5,16,847 42,28,081

Other Current Assets

As at 31st March
As at 31st March 2021 2020
-Other Current Assets
-Advances Paid to Suppliers 2,63,325 6,16,325
-Advances Paid to Employees 95,348 1,36,203
-Other Current Assets (Gratuity) 1,30,834 -
-Input IGST - 7,63,319
-Input CGST - 23,73,606
-Input SGST - 2,93,599
-IGST TDS - 14,400
-CENVAT & PLA Accounts 2,711 -
-IGST Refund 24,629 24,629
-Income Tax Appeal - 6,000
Total 5,16,847 42,28,081

Contingent liabilities and commitments

16
(to the extent not provided for)
Bank Guarantee 1,55,95,059.60 1,11,32,640
Income Tax Appellate Tribunal - 3,82,962
Total 1,55,95,060 1,15,15,602

17 Revenue from Operations

Revenue from - Sale of products 39,85,64,524 39,95,22,996
Revenue from Services Rendered 77,70,320 69,89,817
Less: Goods and Service Tax (5,32,78,420) (5,67,40,858)
Total 35,30,56,424 34,97,71,955

27
28
18 Other Income
Dividend Income - 778
Other non-operating income (net of
expenses directly attributable to such 2,05,589 2,77,900
income)

Total 2,05,589 2,78,677

Other Income- Dividend income

As at 31st March As at 31st March
2021 2020
Other income
-Dividend income - from Sachin - 778
Industrial Bank Ltd.
Total - 778

Other Income- Other non-operating income (net of expenses directly attributable to

such income)
As at 31st March As at 31st March
2021 2020
Other income
-Profit on Sale of Motor Car - 9,212
-Foreign Exchange Fluctuations. 29,149 7,854
-Interest on Fixed Deposits 1,74,190 1,88,887
-Insurance Income - 69,016
-Miscellaneous Income 2,251 2,931
Total 2,05,589 2,77,900

19 Cost of Materials Consumed

Cost of Materials Consumed 28,18,43,355 30,25,11,689
Add : Custom Duty 5,855 31,910
Total 28,18,49,210 30,25,43,599

29
 Cost of Materials Consumed
Consumption of Raw Material
-Purchases of Raw Material 26,91,09,409 30,48,74,640
Less: Purchase Return 11,33,197 -
Total 26,79,76,213 30,48,74,640

Cost of Sales
-Closing Stock (Cost of sales) (1,43,18,548) (2,81,85,690)
-Opening stock (Cost of Sales) 2,81,85,690 2,58,22,739
Total 1,38,67,142 (23,62,951)

Changes in Inventories of Work-in- As at 31st March As at 31st March

20
Progress and Stock-in-Trade 2021 2020

(Increase)/ decrease in stocks

Stock at close:
Work-in-Progress 36,03,411 1,26,84,962
Trading Goods 21,11,137 32,93,445
Total 57,14,548 1,59,78,407

Less: Opening Stocks

Work-in-Progress 1,26,84,962 35,00,905
Trading Goods 32,93,445 29,25,659
1,59,78,407 64,26,565

Total 1,02,63,859 (95,51,843)

21 Employee Benefit Expense

Salaries and wages 3,05,31,280 2,58,31,422
Contribution to provident and other funds 13,42,003 13,10,783
Staff welfare expenses 4,74,285 5,87,788
Total 3,23,47,568 2,77,29,992

30
22 Financial Costs
Interest expenses 11,55,073 19,49,207
Other borrowing costs 6,05,085 5,03,648
Applicable net gain/ loss on foreign
44,271 2,776
currency transactions/ translation
Total 18,04,429 24,55,631

23 Depreciation and Amortization

Expense
Depreciation and Amortization Expense 22,54,384 25,82,124
Total 22,54,384 25,82,124

24 Other Expenses
Power and fuel 4,65,712 5,62,286
Rent 3,72,094 3,72,814
Insurance 4,50,870 3,40,592
Labour Charges (Service Purchase)-
4,22,998 12,23,805
Trading
Rates and Taxes, excluding taxes on
37,251 37,468
income
Miscellaneous expenses 1,29,87,620 1,42,47,797
Total 1,47,36,545 1,67,84,762

31
 CASH FLOW STATEMENT FOR THE YEAR ENDED 31 ST
MARCH 2021:

Cash Flow Statement for the year ended 31 st March 2021

2020-21 2019-20
Rs. Rs. Rs. Rs.
(A) Cash Flow from Operating
Activities:
Net profit/ (loss) before prior period
1,00,06,018 75,06,366
Adjustment & Taxation

Adjustments for:
Prior period exp (6,000) (281)
Exceptional Items (22,12,097)
Depreciation 22,54,384 25,82,124
Finance Cost 18,04,429 24,55,631
Provision 25,65,407 27,17,873
Insurance Income - (69,016)
Interest Income (1,74,190) 42,31,934 (1,88,887) 74,97,446

Operating Profit (Loss) before

1,42,37,952 1,50,03,811
Working Capital Changes

Trade payables, other current

68,67,937 (62,06,133)
liabilities & provisions
Loans & Advances (16,50,187) (5,28,764)
Inventories 2,41,31,002 (1,19,14,793)
Trade Receivables (4,29,11,518) 1,97,51,889
Short term Provision (27,17,873) (17,38,571)
Other current and Non-Current
(29,083) 42,35,834
Liabilities

32
Other current and non-Current assets 37,11,234 (1,25,98,487) (28,72,065) 7,27,396

Cash Flow before prior period

16,39,464 1,57,31,208
Adjustment
Excess/(Short) Provision for
94,027 (1,93,769)
Taxation in earlier years
Income Tax Paid (21,11,245) (22,80,000)
Net Cash from Operating Activities (3,77,754) 1,32,57,438

(B) Cash Flow from Investing

Activities:
Interest Income 1,74,190 1,88,887
Insurance Income - 69,016
Sale of Investment 32,67,493
Increase in Fixed Assets (7,87,499) (11,54,356)
Sale of Fixed Assets 17,482 14,788

Net Cash received from Investing

26,71,666 (8,81,666)
Activities

(C) Cash Flow from Financing

Activities:

Finance Cost (18,04,429) (24,55,631)

Short term borrowings 11,34,070 (1,19,98,143)
Long Term borrowings - -

Net Cash used in Financing

(6,70,360) (1,44,53,775)
Activities

Net Increase in Cash and Cash

16,23,553 (20,78,003)
Equivalents

33
Cash and Cash Equivalents as on 1st
21,59,375 42,37,378
April, 2020

Cash and Cash Equivalents as on

37,82,928 21,59,375
31st March, 2021

34
 RATIO ANALYSIS:

RATIO ANALYSIS
1 2020-21 2019-20
Particulars
Turnover [A] 35,30,56,424 34,97,71,955

Cost of Material Consumed [B] 29,21,13,069 29,29,91,756

Direct manufacturing Cost [C] 47,94,970 75,19,543
Employee Cost [D] 3,23,47,568 2,77,29,992
60% of the employee cost [E]=[D]*0.6 1,94,08,541 1,66,37,995

Direct Cost [F]=[B+C+E] 31,63,16,579 31,71,49,294

Gross Profit [A-F] 3,67,39,845 3,26,22,660

G.P. Ratio 10.41 9.33

2 Net profit [G] 77,87,921 75,06,085

N. P. ratio [G/A*100] 2.21 2.15

3 Stock-in-Trade [H] 1,64,29,685 3,14,79,135

Stock-in-trade/Turnover [A/H] 21.49 11.11

4 Closing Work-in-progress [I]

Purchase of Raw Material [J] 26,79,76,213 30,48,74,640
closing Of Raw Material (1,43,18,548) (2,81,85,690)
opening Raw Material 2,81,85,690 2,58,22,739

35
Cost of Material Consumed [K]=[I]+[J] 28,18,43,355 30,25,11,689

Contribution to PF, ESI, Etc. (Mfg.)

Factory Expense 2,282 2,282
Freight 5,75,146 8,22,520
Electricity Expense (Factory) 4,33,912 4,83,002
Labour Charges (Direct Labour) 4,22,998 12,23,805
Municipal Tax (Factory) 37,251 37,468
Rent for Premises (Factory) 3,72,094 3,72,814
Generator Expense 31,800 79,284
Water - -
Repairs and Maintenance - Others (Factory) 1,46,897 2,65,108
Total [L] 20,22,380 32,86,283

Finished Goods Produced [M]=[K]+[L] 28,38,65,735 30,57,97,972

Material Consumed/Finished Goods

[K]/[M]*100 99.29 98.93
Produced

36
 COMPARATIVE STATEMENT OF VELOX AUTOMATION
PVT. LTD. AS ON MARCH 2020 &: MARCH 2019:

As at 31st March As at 31st March As at 31st March

2021 2020 2019
(Rs) (Rs) (Rs)
Particulars Note Inc / Dec % Inc Inc / Dec % Inc / Dec %
No / Dec Inc / Inc /
2021 Dec Dec
2020 2019

I. Equity and Liabilities

(1) Shareholders`
Funds
(a) Share Capital 1 - - - - - -
(b) Reserves and 2
58,01,197 13.77 46,57,721 0.12 42,94,409 0.13
Surplus
Total 58,01,197 13.77 46,57,721 0.12 42,94,409 0.13
(2) Long-Term
- - (1,37,120) (1.00)
Borrowings
(3) Current Liabilities - -
(a) Short-Term 3
11,34,070 7.37 (1,19,98,143) (0.44) 3,08,105 0.01
Borrowings
(b) Trade Payables 4 - - -
Outstanding dues of other
68,67,937 11.65 (62,06,133) (0.10) (16,41,521) (0.02)
creditors
(c) Other Current 5
(29,083) (0.26) 42,35,834 0.62 15,85,628 0.30
Liabilities
(d) Short-Term 6
(1,52,467) (5.61) 9,79,302 0.56 66,613 0.04
Provisions
Total 78,20,457 8.87 (1,29,89,140) (0.13) 1,81,704 0.00
Grand Total 1,36,21,654 10.38 (83,31,418) (0.06) 44,76,113 0.03

37
II. Assets
(1) Non-current Assets
(a) Property, Plant 7
(14,84,369) (19.13) (14,42,555) (0.17) (27,81,180) (0.18)
and equipment
(i) Tangible Assets (11,80,168) (8.54) (11,38,355) (0.08) (26,80,453) (0.15)
(ii) Intangible Assets (3,04,201) (10.60) (3,04,199) (0.10) (1,00,727) (0.03)
(iii) Work-in-Progress -
(iii) Intangible Assets
-
Under Development
(a) Non-Current 8
(32,67,493) (99.80) - - - -
Investments
(b) Deferred Tax 9
30,494 9.84 (3,74,595) (0.55) (16,592) (0.02)
Assets (Net)
(c) Long Term 10
2,50,200 13.92 3,04,884 0.20 1,95,746 0.15
Loans and Advances
Total (44,71,168) (20.25) (15,12,266) (0.06) (26,02,026) (0.10)
-
(2) Current Assets -
11 (2,41,31,00
(a) Inventories (54.64) 1,19,14,793 0.37 1,49,43,013 0.86
2)
(b) Trade Receivables 12 4,29,11,518 74.68 (1,97,51,889) (0.26) (77,25,218) (0.09)
(c) Cash and Cash 13
16,23,553 75.19 (20,78,003) (0.49) (9,17,232) (0.18)
Equivalents
(d) Short-Term Loans 14
13,99,987 122.66 2,23,880 0.24 8,102 0.01
and Advances
15 (37,11,23 (87.78) 28,72,066 2.12 7,69,475 1.31
(e) Other Current Assets
4)
Total 1,80,92,822 16.58 (68,19,154) (0.06) 70,78,139 0.07
Grand Total 1,36,21,654 10.38 (83,31,419) (0.06) 44,76,113 0.03

38
INTERPRETATION OF FINANCIAL STATEMENT:

 Reserve increased from Rs.58, 01,197.00.

 Short-Term Borrowings liability increased from Rs.11, 34,070.00.

 Other Current Liabilities decreased from Rs.29083.00.

 Total Non-Current assets decreased by Rs.44, 71,168.00.

 Total Current asset increases by Rs.1, 80, 92,822.00.

 Total income increased by Rs.32, 11,381.00.

 Gross Profit increased by Rs.11,43,476.00

INTERPRETATION OF RATIOS:

1. PROFIT BEFORE INTEREST AND TAX MARGIN:

In this ratio march 2020 are higher than another year. In March 2021 ratio was 3.75%
and in March 2020 ratio is 31.61%. This ratio is very less in March 2021.

2. GROSS PROFIT:

In this ratio march 2021 are higher than March 2020. In March 2021 ratio 24.55% higher than
March 2020. March 2020 ratio is very less than another in two year. And ratio is 8.46%. In
March 2019 ratio was 54.73%. And March 2021 ratio was 24.55%. The 2019 ratio is high .

3. TOTAL CURRENT LIABILITIES (%):

March (2019) ratio is very less than another two years. And ratio is 0.03%. In March
(2021) ratio was 10.38% and March (2020) ratio was 0.06%. The 2021 ratio is higher.

39
4. SHORT-TERM BORROWINGS (%):

In this ratio March 2021 ratio is 7.37%, March 2020 ratio is 0.44% and March 2019 ratio
is 0.01%. The March 7.37% ratio is higher .

5. TOTAL NON-CURRENT ASSETS (%):

March 2021 ratio is very less than another two years and ratio is (-20.25) %. In March
2019 ratio was (-0.10) % and March 2021 ratio was (-0.06) %.The 2021 ratio is higher.

6. FIXED ASSETS (%):

In this ratio March 2021 ratio is 19.13%. March 2020 ratio is 0.17%, March 2019 ratio is
0.18%. March 2021 ratio was greater than another year ratios.

7. CASH AND CASH EQUIVALENTS:

In this ratio March 2021 ratio is 75.19%, March 2020 ratio is 0.49% and March 2019
ratio is 0.18%. March 2021 ratio was greater than another year ratio.

8. TOTAL CURRENT ASSETS RATIO (%):

In this ratio March 2021 ratio is 16.58. March 2020 ratio is (-0.06) and March 2019 ratio is

0.07. March 2021 ratio is greater than another year ratio.

40
 CHAPTER

MARKETING DEPARTMENT

41
LIST OF PRODUCTS AND SERVICES:

PRODUCTS:

 ELECTRICAL PANELS:

An electrical panel is basically a service box that connects a main power line to a industry, and
distributes electrical currents to the various circuits within the industry. Circuit breakers and
fuses ensures there are no over-currents during the distribution of power to different circuits.

 LOW VOLTAGE SWITCHGEAR PANELS & BUSDUCTS (LV):

Low voltage panel is a component of an electrical distribution system that divides an electrical
power feed into branch circuits while providing a protective fuse or circuit breaker for each
circuit in a common enclosure.

 PROGRAMMABLE LOGIC CONTROL PANELS (PLC):

A PROGRAMMABLE LOGIC CONTROLLER (PLC) is an industrial computer control

system that continuously monitors the state of input devices and makes decisions based upon
a custom program to control the state of output devices.

 MEDIUM VOLTAGE PANELS:

A medium voltage switchgear is a set of electrical equipment enclosed in a predominantly

metal structure. This centralized set includes a variety of switches, transformers, fuses and
circuit breakers. Electrical panels are used to better protect, control and separate electrical
equipment from each other.

 AUTOMATION PANELS:

Automation panels use a single database with a single development environment and a single
library for reusable objects. Hardware costs are also reduced. Combining the controller,

42
operator interface, and remote connectivity into a single device means only one device to
purchase, install, and configure.

 INDUSTRIAL INTERNET OF THINGS (IIOT):

The industrial internet of things (IIoT) is the use of smart sensors and actuators to enhance
manufacturing and industrial processes.

 SMART CITY SOLUTIONS:

Smart city solutions of IoT are focused to develop cities of future that promote economic
development, improve infrastructure & environment, and digitally optimize public assets. A
smart city is a collection of billions of smart devices that collects and shares information over
a wide network spread across a city.

 POWER QUALITY & ENERGY MANAGEMENT SYSTEMS:

Smart grids use digital technologies and IoT solutions to intelligently respond and adapt to
changes in the grid. Infusing energy intelligence is the key to leverage the data in the grid that
allows to make grid operation reliable, cost-efficient, flexible, safe and therefore sustainable. -
SIEMENS

 TURNKEYPROJECT:

A turnkey project is a delivery method in which a single entity works with a project owner
under a single contract to complete all stages of a project from detail engineering through
construction.

43
SERVICES:

 For your automation & drives projects, we have a team to do software

development for the drives, automation & SCADA systems as well as DCS
systems. Our team also does the onsite commissioning of automation systems,
AC/DC drive systems & instrumentation systems.
 Our company offer post supply services in the form of Annual maintenance
contracts, shutdown maintenance services, break down maintenance services,
preventive maintenance services, etc.
 We also provide repairing services for the Drives, PLC & HMI modules with a in
house repair facility. (If someone asks too much about PLC card / HMI repairs
you tell him it can be tried out but very difficult thing to do).
 Engineering & Design Services
 Maintenance Support
 Site Support

NUMBER OF CUSTOMERS/OVERSEAS CUSTOMERS:

Our company has provided Products and Services to around 921 customers.

Our major customers are:

ESSAR STEEL LTD. ONGC

SHELL GAS PEPSICO INDIA HODLINGS PVT. LTD.,
KRIBHCO THYSSENKRUPP
LARSEN & TOUBRO LTD. J K PAPER
RELIANCE INDUSTRIES LTD. THE TIMES OF INDIA
ONGC LTD ARTI INDUSTRIES
GAIL LTD HINDALCO INDUSTRIES
NTPC LTD DAINIK BHASKAR
COLOURTEX WELSPUN
GNFC SANOFI LTD.,
ABB LTD BAYER CROPSCIENCE

44
 DARAMIC KANDLA PORT TRUST
WEST COAST PAPER MILL CARGILL
SRF LOUIS DREYFUS
SEIMENS LTD NIRMA
ENVIRO CONTROL ASSOCIATES GARDEN SILK MILLS LTD
PACE PACKAGING PHARMALAB
ASIAN PAINTS FLSMIDTH
ANUPAM INDUSTRIES DEMAG CRANES, UAE
IFFCO GUJARAT BOROSIL
ADANI, PMC, MUNDRA PORT GSFC
UNITED PHOSPHORUS ATUL
PIDILITE ABG CEMENT
GULF PETROCHEM TECTON

MARKETING PLAN:

DIGITAL MARKETING:

Generating newsletter for customers.

 In the newsletter we include different types of challenges and highlights of

projects.
 This newsletter is circulated to our customers within every 15-30 days.

45
46
COLD CALLING:

 Cold calling refers to solicitation by phone or telemarketing, but can also involve in-
person visits, such as with door-to-door salespeople.
 Our concerned company person visits the new plant location of any company and assists
them with panel solutions after evaluating the project.
 After going to their plant we represent our company by doing presentations, showing
them what kind of facilities we can provide.
 We also plan factory visit for our customers.
 After doing Cold calling we do product presentation, physical demo.
 Grievance Redressal is provided to our customers if they have any problem regarding
demo & presentation, and changes are made according to their requirements.

DEDICATED MARKETING PERSON:

 Our marketing person visits existing and new customers factory and convince them to
upgrade to latest panels solutions.
 He convince them by showing the advantages of new technology, production increase
after upgrading to new version of panels.

MAJOR COMPETITORS:

 Kaizen Automation
 Logicon Technosolutions Pvt. Ltd
 Rajdeep Automation Pvt. Ltd
 Deutek Controls(India) Ltd
 IPAC Automation Pvt. Ltd
 Analogic Automation Pvt. Ltd
 Softcon Systems Pvt

47
PRODUCT LIFE CYCLE (PLC)

Siemens automation and drives products follow an overall product lifecycle of 3 (three) major
stages:

1. STAGE 1 ACTIVE:

In this stage product is actively sold and available as standard product in the current Siemens
catalogues.
Examples: S7-1200/1500, HMI Comfort Panels, SINAMICS G.

2. STAGE 2 PHASE-OUT:

Product’s availability under phase-out (maturity) stage (10 years) cannot be guaranteed. The
following constellation could happen:

 Product is available as NEW part as long as stock is still available.

 Product is manufactured to order, which means long delivery time.
 Product is only available as REFURBISHED part.
 Product is only available on one-to-one EXCHANGE.
 Product can only be REPAIRED.
 Examples: S7-200, x77 Generation HMI Panels (e.g. MP377/MP277, etc.), Master
drives, SIMOREG.

48
 3. STAGE 3 DISCONTINUED:

In this stage spare part is no longer available from Siemens nor will Siemens offer any repair
or technical support on the discontinued product.
Examples: SIMATIC S5, SIMATIC C7, SIMATIC M7, x70 Generation HMI Panels (e.g.
TP/OP 270, OP170B, etc.).

MARKET SEGMENTATION:

Market segmentation is a marketing strategy in which select groups of consumers are identified
so that certain products or product lines can be presented to them in a way that appeals to their
interests.

1. Metals (Steel, Copper and Aluminium).

2. Chemical & speciality chemicals.
3. Food & Beverage.
4. Packaging.
5. Water & waste water.
6. Utilities.
7. Material Handling.
8. Pharmaceuticals.
9. Cranes.
10. Glass.
11. Power.
12. Paper.
13. Textiles.
14. Oil & Gas.

49
POSITIONING STRATEGY:

PROMOTION TOOLS USED:

 Newsletter
 Company-to-company marketing (through e-mails, calls or personal visits)

PRICING METHOD FOLLOWED:

All panels of our company are customized therefore our company does not follow any specific
pricing method.

SALES FORCE MANAGEMENT:

We have three departments in marketing for sales force management:

 Marketing: They do on-field marketing for 5 days a week and the 6 th day they
report their work to respective supervisor.
 Sales (front): Customer contacts sales front officers regarding their enquiry and
sales officer solve their doubts and queries.
 Back-office Engineers: Replying enquiries of customers regarding spares and
automation.

KEY-FUNCTIONS OF MARKETING DEPARTMENT:

• Inquiry generation

• Customer visit

• Offer making

• Negotiation

50
 • Release project details

• Internal Kick-off meeting

• Customer kick-off meeting

• Commercial approval of project

• Collection of payments

• Collection of customer feedback forms

• Customer master

• Engineering & Sales item code creation

• Sales order receipt entry

• Order acknowledgement entry

• Stock check report

• Indent Entry

• Vendor purchase order entry

• Supplier monitoring register

• Basic purchase rate entry for OAF items

QUALITY SYSTEM PROCEDURE:

Purpose: To Explain the purpose of Marketing & Sales, for products which Velox Represents
& Purchase of those product from our External provider.

Scope: Product range includes Siemens, Lapp Kabel, Phoenix, Rittal & Omron Product Range.

Definitions & Abbreviations:

 PO- Purchase Order

 Asst.- Assistant
 Mgr.- Manager
 Mktg.- Marketing

51
SR RESPONSIBI
INPUT ACTIVITY OUTPUT
NO. -LITY
MARKET
INFORMATION,
LIKE NEW
PROJECT
INQUIRY MARKETING
1 COMING UP, CUSTOMER SITE VISIT
REGISTER ENGINEER
REQUIREMENT
OF PRODUCTS
WHICH WE
ARE DEALING
SALES
SITE VISIT FOR TECHNICAL INQUIRY ENGINEER/
2 INQUIRY
CLEARANCE REGISTER SR.
ENGINEER
SALES
SELECTION OF PRODUCT ENGINEER/
OFFER
3 INQUIRY ACCORDING TO CUSTOMER BACK
PREPARA-TION
REQUIREMENT OFFICE
ENGINEER
SALES
MANAGER/
-Reviewed Offer
PREPARED CHECKING OF OFFER (if Offer ENGINEER
4 -OFFER
OFFER Value > Rs.10 Lakhs) BACK
SUBMISSION
OFFICE
ENGINEER
SALES
FOLLOW-UP WITH CUSTOMER, TECHNO
OFFER ENGINEER/
5 TECHNO COMMERCIAL COMMERCIAL
SUBMISSION SALES
NEGOTIATION NEGOTIATION
MANAGER
TECHNO-
CUSTOMER VISIT FOR THE SALES
6 COMMERCIAL CUSTOMER PO
FINALISATION ENGINEER/
NEGOTIATION

52
 SALES
MANAGER

BACK
SO AND OAF
7 CUSTOMER PO ENTRY OF SO & OAF IN ERP. OFFICE
DOCUMENT
ENGINEER

APPROVAL OF SO BY MANAGEME
8 SO AND OAF APPROVED SO
MANAGEMENT NT

PREPARING PO IN ERP SYSTEM

PURCHASE BACK
BASED ON STANDARD PRICE
9 APPROVED SO ORDER OFFICE
LIST AND AGREED TERMS &
TO VENDOR ENGINEER
CONDITIONS.
AUTHORISATION OF PO AND
MANAGEME
ISSUE OF PO TO VENDOR; GET
10 PO DOCUMENT ISSUED PO -NT & BACK
ORDER CONFIRMATION &
OFFICE
\MONITOR DELIVERY
(1) OBTAIN CUSTOMER
FEEDBACK ONCE IN A YEAR &
CUSTOMER
REVIEW FOR CONTINUAL
FEEDBACK
IMPROVEMENT. (2) INCASE OF SALES
FORM, CUST-
CUSTOMER CUSTOMER COMPLAIN, THE ENGINEER/B
OMER
11 FEEDBACK/ SAME WILL BE RECORED IN ACK
COMPLAINS &
COMPLAIN CUSTOMER COMPLAINS & OFFICE
CORRECTIVE
CORRECTIVE ACTION ENGINEER
ACTION
REGISTER & SUITABLE ACTION
REGISTER
IS INITIATED FOR CLOSURE OF
COMPLAIN.

53
 CHAPTER

HUMAN RESOURCE MANAGMENT

54
RECRUITMENT PROCEDURE:

 Once the requisition is received, HR Department would jointly work with the Director/
Head of the department for finalization of the same.
 Resumes are screened and shortlisted by HR Department.
 Shortlisted resumes are sent to respective HOD/Director for their review and short
listing.
 HOD shortlists and sends, final list of candidates to be interviewed.
 First round of interview is scheduled by HOD. At times second round of interview is
conducted with Director before final selection of candidate.
 Offer letter duly signed by the director is issue to selected candidate with terms and
condition agreed with the candidate & required documents which candidate is supposed
to submit at a time of his joining. Candidate is required to sign the offer letter and
submit back one copy with the date of his joining.

55
Open Requisition by HOD dult
approve by Management.

Intimation to HR.

Internal
Identification of Sources.

External

Screening of Resumes.

Shortlisting of Resume by
HOD. NO

YES

Face to Face Interview 1.

NO

YES

Face to Face Interview 2. NO

YES

Offer of Employment.

56
NUMBER OF EMPLOYEES:

There are total approximately 130 employees in the company.

DEPARTMENT
STRENGTH APPORTIONMENT
MFG 43 35%
Sales 24 19%
Projects 21 17%
Design 6 5%
Admin 3 2%
Accounts 4 3%
MGMT 5 4%
HR 4 3%
Stores 4 3%
QC 2 2%
Purchase 3 2%
IT 1 1%
Fabrication 2 2%
Execution 2 2%
Total 124 --

ATTENDANCE MAINTENANCE:

 In Velox Automation attendance is maintained through biometric machine.

 That biometric machine is of face detection machine & that machine is from
Mantra Company.
 Whenever the employees enter and exit from the company they have to punch
In-time & Out-time on online application
 Attendance process through Paywell Application.
 Marking of attendance on Biometric attendance devise is mandatory for
employees.

57
  In case of out-door duty or field work, employee shall have to raise the
Attendance Regularization request through Paywell system.
 2nd of every month is cutoff date for previous month’s payroll process.
 Employee have to ensure that their all attendance correction and leave related
transactions should be raised and get approved in Paywell before the cutoff date.

GRACE PERIOD:

 There will be 15 minutes grace period in IN time.

 IN punch between 9:45 to 10:15 a.m. will be considered as a late punch marking.
 On 3rd late punch half day absence will be mark.
 Then onwards for every late punch, half day absence will be marked.
 IN punch after 10:15 am will be considered as a half day presence.

TRAINING GIVEN:

 As our company is an automation company so it focuses more on functional and

technical trainings.
 There are below categories of training being given to the employees based on their

CONCEPTUAL/THEORETICAL COMPETENCY:
 Basic technical competency
 Expert technical / Functional competency
 It / Software competency
 Soft Skills

MAIN TECHNICAL COMPETENCIES ARE:

 Competency of PLC
 Competency of DCS
 Competency of Drives
 Competency of Scada / HMI
 MCC / PCC / LV Panel Manufacturing

58
  MCC / PCC DESIGN
 Competency of Siepan
 Fabrication
 Product costing
 Competency of Networking
 Competency of Simotion
 WINCC Technical Competency

NO. OF
TOTAL
NO. OF SESSION PARTICIPANTS
TRAINING TRAINING
IMPARTED ATTENDED
MAN HOURS
TRAINING
Functional /
144 786 1553 hrs.
Technical

LEAVE RULES:

 Total 3 types of leaves are provided by our company:

1. SHORT LEAVE - Employee will be allowed to take short leave of 2 hours,
2 times in one month to carry out his personal work. Short leave needs to be
applied through Paywell.
2. CASUAL LEAVE - Total 6 casual leaves are provided during probation
and 6 leaves are provided after confirmation.
3. PRIVILEGED LEAVE – Total 24 privileged leaves are provided by
company.
 Leave will be credited in advance at the beginning of the financial year.
 Carry forward limit of PL: Up to 48 leaves
 All time and leave related request will be routed to their immediate superior for
approval in Paywell system. (For few team members the request will go for two level
approval).
 Leave needs to be applied through Paywell at least 2 days in advance.
 Leave intimation required 7 days in advance if leave request is for more than days.

59
  For half day leave - First Half shall be applicable till 2:00 p.m. & Second Half shall
from 1:30 p.m.
 Sandwich weekly off (prefixed and suffixed by PL) shall be treated as PL.
 Uninformed leave for more than 7 days shall be considered as absenteeism and
disciplinary action will be triggered against employee and may result into termination
of service.
 All staff employee are eligible for Compensatory-Off.
 Against working on weekly off or holiday employee will eligible for Compensatory-
Off.
 Compensatory-off should be availed within 45 days.
 There is entitlement of 15 paid Public Holidays for the employees in the year.
 All employees are eligible for public holidays as defined in company Holiday calendar.

LEAVE ENCASHMENT:

Accumulated PL balance will be en-cashed in F&F at the time of employees’ separation.

60
PERFORMANCE APPRAISAL:

 Performance appraisal cycle is April to March.

 Employees join before 1 st Oct are eligible.
 KRA (Key Result Area) and KPI (Key Performance Indicator) will be set for each
individual every year.
 Performance appraisal will be based on KRA & KPI.
 There will be performance feedback by superior on one to one basis.
 Self-rating will be followed by appraisal and rating of superior and reviewed by HOD
and Moderation Committee.

The company follows the PMS procedure for performance management

PROCESS OF PERFORMANCE MANAGEMENT SYSTEM (PMS):

A] PLANNING:

 The very first step of this is planning

 The Superiors do the planning for performance management and self-development for
the employees which will include Knowledge, Skills and Attributes.
 Setting of KRA and KPI / Goals for an individual (in-line with Org. & Departmental
objectives)
 Set Learning Objectives for individual.
 Set the objectives for developing the attributes.
 This will help to remain focused and contributing in right direction and meeting
expectation.

B] MONITORING:

 Maintain performance Diary.

 Record high performance and low performance incidents.
 Evaluate the individual’s improvement in developmental areas.

61
C] FACILITATING / DEVELOPING:

 Have monthly Development Dialogue (one to one) between superior subordinate.

 Ensure effective learning and development of the individual to bridge the competency
and attribute gap.

D] REVIEWING:
 To make the process performance enabling for the individual, the formal periodic
review will be carried out as below.

STANDARDS OF PERFORMANCE RATING:

RATING STANDARDS:

Indicates outstanding performance where

Outstanding exceptional results are consistently achieved,

(Achievement > 115%) demonstrates mastery over the job showing

leadership & high potential.

Indicates high level of performance &

Exceed Expectation
achievements, demonstrates team work, total
(Achievement 115 to 100%)
dependability & reliability.

62
Meet Expectation Indicates good performance where expectations are

(Achievement 100 to 90%) fulfilled with initiative & minimum supervision.

Indicates acceptable performance with very few

Average
failures in achieving expected results, needs,
(Achievement 90 to 70%)
guidance, support & supervision.

Indicates performance is inconsistent & below

Needs Improvement
expected level. Need to improve understanding and
(Achievement < 70%)
deliverables of the assigned job.

DIMENSIONS FOR INDIVIDUAL PERFORMANCE EVALUATION:

FOR TEAM MEMBERS OF MANAGERIAL ROLE:

FOR TEAM MEMBERS OF DOER ROLE:

63
SALARY ADMINISTRATION:

 Pay cycle is from the first day to the last day of the respective month.

 Salary is being processed from employee’s attendance data available in Paywell.

 Salary will be released on 7 th of every month.

 Salary will be directly credited in employee’s salary account.

INVESTMENT DECLARATION:

 Employees need to provide their investment declaration to HR in month of April.

 In case of new joiner declaration need to be submitted within 15 days of joining (before
first pay process).

 Employee need to be submit copy of investment proof for TDS by 15 th- March every
year.

 Form 16 & salary certificate will be issued in June for previous financial year.

REWARDS AND RECOGNITION:

64
SPECIFIC HR-POLICY:

1. MANPOWER PLANNING:
 The policy addresses the manpower need identification and future requirements.
 Every department shall give or identify the need of manpower duly approved
by Director/MD before beginning of the year with justification of position and
benefit to organization.
 Departments must fill some information like Position, Specification of person
required, Experience required, Salary range, Job description in the Manpower
Requisition Form.

2. INDUCTION AND ORIENTATION:

 This policy, associated procedures and guidelines define the company’s
commitment to ensure that all should timely given induction training as per
guidelines set by the company.
 It is an aim of the company to ensure that staff should be introduced into a new
post and working environment quickly, so that they can contribute effectively
to the company.
 The Company expects that the implementation of good induction should be
held by Managers or Supervisors which includes:
 Ensure that then new employees are highly motivated.
 Assist in reducing staff turnover rate, absenteeism, and poor
performance.
 Ensure that employees are working in safe working environment.
 The Company Personnel Department/Head office will
 Issue guidelines to familiarize the induction process with Managers and
Staff.
 Maintain and update Induction Policy.
 Provide a checklist to the managers and staff to follow during the
induction process.
 Review whole policy, procedure and guidelines on regular basis.
 Provide relevant formal training during induction process if needed.

65
3. TRAVEL POLICY:
 The company have divided the travelling money as per the classes
Class A cities: All metro cities and Bangalore, Hyderabad, Pune.
Class B cities: All State Capitals, cities with population more than 5 lac like
Vadodara, Nagpur etc.
Class C cities: All other than above.
 The mode of travel, lodging and boarding will be on levels as mentioned below.
Ticket copy, Taxi bill must be attached whenever possible.

Local Home
Mode of
Designation Level Mode of Local town
transport
conveyance
Local bus,
Technician, Govt. Bus,
Auto, if own
Jr. engineer, T-1 Non A/C bus, Local bus, Auto
two wheeler
engineer Train 2nd class
@2.50/KM
Sr.
engineer,
Auto or own
Asst. A/C bus, 3-tier
T-2 Auto two wheeler
Manager, A/C train
@2.50/KM
Dy.
Manager
Manager,
Taxi, and
Senior T-3 2-tier A/C,
Taxi Own car then
Manager, First class
Rs. 5/km
DGM, GM
Taxi, rent a
V.P. and Economy class Taxi, rent a car car etc. and
T-4
Directors air travel etc. Own car then
Rs. 5/km

66
  If Employee is Moving/Working in Local city (Home City), he can charge RS-
80 towards incidental expenses like lunch, snacks etc. without bill.
 The Lodging expenses means the Hotel Charges for stay overnight, against
submission of bills.

Maximum Maximum Maximum

Designation Level Allowable Allowable Allowable
Rs. Rs. Rs.

CLASS A B C Remark
OF CITY

Technician, Jr.
GST bill must
engineer, T-1 850 700 600
be obtained
engineer

Sr. engineer,
GST bill must
Asst. Manager, T-2 1750 1500 1300
be obtained
Dy. Manager

Manager,
Senior T-3 GST bill must
2500 2000 1700
Manager, be obtained
DGM, GM

V.P. and GST bill must

T-4 Actual Actual Actual
Directors be obtained

 If Employee makes his own arrangement of staying then He/ She can claim 40% of the
above changes for each night.

67
4. CAR POLICY:
 The Car shall be provided on different levels:
Sr. Manager: 5 lac
DGM : 7 lac
GM : 9 lac
VP/Director: 12 lac
 If the car is provided to employee, employee can buy as per his limit, if any
higher value car is selected, then the differential amount should be paid by the
employee itself.
 Once car is given, employee has to keep it for minimum 2 years, if he/she leave
the job for any reason they have to purchase the car at the depreciated value.
After 2 years they can surrender the car to the employer.
 The company shall be paying insurance every year.
 The car given to employee is for company work only and should not be used for
personal use.

5. MOTIVATION POLICY:
 For this company Velox Automation provides different types of reward and
recognition in different categories such as Star performer of the Year, Star
performer of the Quarter, New Talent of the year, Department of the year etc.
 After working constantly as employees gets bored so company Annual picnic,
Diwali Sweets, Birthday Wish, Award Winners Corporate events etc.

6. PREVENTION OF SEXUAL HARASSMENT POLICY:

 As per the Sexual Harassment of Women at Workplace (Prevention,
Prohibition, Redressal) Act, 2013.

7. EMPLOYEE STATE INSURANCE SCHEME:

 The Employee State Insurance Policy shall be as Employees Provident Fund
and Miscellaneous Provision Act, 1952.

68
 8. GRATUITY POLICY:

Gratuity Policy is as per the Provision of Gratuity Act, 1972.

9. QUALITY POLICY:
 Our purpose is to Cater Customer by providing Solutions through our in
System Integration, Control Panel Manufacturing, Automation & Process
expertise Controls and moving up the value chain as the most trusted business
partner.
 By installing a System of policies & procedures which will minimize
defects/delays and improve efficiency of the process by continually
monitoring & improving processes, training of personnel & working very
closely with our customers to establish a partnership for success in today’s
business environment.

GRIEVANCE HANDLING PROCEDURE:

When any misunderstanding or dissatisfactions occasionally arise when an employee does not
understand or agree with certain principles, procedures or decisions which affect employment
or because the employees is not satisfied with treatment or working conditions. It needs to be
addressed.

69
PROCEDURE:

 If an employee question or problem is not resolved after discussion with

immediate supervision, the employee can have the concern reviewed by higher
level.
 A discussion between employee and the person above the immediate HOD
within one calendar week.
 A discussion with the HR head or the director within one Calendar week if the
grievance is not resolved.
 In case of discrepancy the associate can talk to the HR department and ask for
a disciplinary action as laid down in the statue.

OTHER DETAILS

EMPLOYEES CHART OF YEAR 2021-2022:

20 140
18
135
16
130 131
14 129 129
126 126 126 127 126
130
12
124 124
10 122 125
8 7
6 6
6 55 120
4 4 4 4 4 4
4 3 3 3
22 2 2 2 115
2 1 1 1 1
0
0 110

New Joiner Left Employee Opening Balance

70
GROUP DYANAMICS:

EMPLOYEES DISTRIBUTION IN DIFFERENT STAFFS:

MANAGERIAL STAFF:

1. Accountable

2. Insightful Initiative taker

3. Drive & Determination (Managing Subordinate)

4. Planner & Manage Priority

5. Communicator (effective and timely)

6. Problem Solver

7. Decision Maker

8. Subordinate development

9. Exemplary Leader

71
NON MANAGERIAL STAFF:

1. Responsible and dependable

2. Proactive

3. Diligent and organized

4. Time Management

5. Communicator (Effective and timely)

6. Problem Solver

7. Team Player & Adaptable

8. Learning & Development (Self)

9. Client orientation

MANAGEMENT STAFF:

1. Quality/Accuracy of work

2. Quantity of Work

3. Dependability Planner & Manage Priority

4. Attendance / Punctuality

5. Professional communication skills with Co-workers / Supervisor

6. Customer focused communication skills

7. Teamwork

8. Ability to work independently

9. Open to feedback

10. Willingness to work on additional responsibility

11. Complies with company policies & procedures

12. Exhibits effective problem-solving skills

72
 13. Eagerness to learn new job-related skills

14. Asks questions & seek guidance as needed

15. Make progress toward professional development goals

HUMAN RESOURCE MANAGEMENT:

As we have discussed earlier according to that these are the things which is
connected to each other in such a manner that through this company is
maintained properly.

73
 CHAPTER

PRODUCTION DEPARTMENT

74
RAW MATERIAL:

 There are no raw materials used in our production house, but we purchase the semi-
finished goods from our suppliers and we assemble the goods to make panels.
 Because we make customized panels that’s why our organization don’t store the raw
materials.

Basic components of panels:

Eight types of electrical components exist within an electrical panel enclosure which
define and organize the several different functions carried out by the panel.

These components include;

 Main circuit breaker
 Wires
 Surgearresters
 Transformers
 Terminal Blocks
 Programmable Logic Controller(PLC Panel)
 Relays and Contactors
 Network Switches
 Human Machine Interface
 Power Supply
 Disconnect Switch
 Fuses
 Motor Drives & Starters
 Ethernet Switches & many other components

75
MACHINES USED:

 Hydraulic Busbar Bending Machine

 Punching Machines for making holes in Busbar

PRODUCTS AND SERVICES PRODUCED:

 Electrical Panels
 Low Voltage Switchgear Panels & Busducts (LV)
 Programmable Logic Control Panels (PLC)
 Medium Voltage Panels
 Automation Panels
 Industrial Internet of Things (IIoT)
 Smart City Solutions
 Power Quality & Energy Management Systems
 Turnkey Project
 Engineering & Design Services
 Maintenance Support
 Site Support

76
PROCESS USED:

PRODUCTION START

All required control panel manufacturing data has already been prepared, so we can begin
(prepare for final assembly) before the parts arrive. This allows us to shift when certain aspects
of control panel manufacturing occur to facilitate a quick delivery schedule or to normalize
production loading.

77
PREPARE WIRES FOR FINAL ASSEMBLY

We use industrial wire processing equipment to produce all wires

After the shortest distance wiring calculation program has been run in our panel design
software to determine all required wire lengths by type (colour, gauge), we import the wiring
data into our wire machine and produce all required wires in sequence by type (colour, gauge)
as follows:

 Wire End A – Cut the wire. Strip the wire. Print directly on the wire insulation (Wire
No, From Device ID: Terminal No) at a programmed position from the end
 Wire Middle – Print directly on the wire insulation (Wire No) at a programmed interval.
 Wire End B – Cut the wire. Strip the wire. Print directly on the wire insulation (Wire
No, From Device ID: Terminal No) at a programmed position from the end.

78
PREPARE NAMEPLATE / DEVICE ID / TERMINAL LABELS

We use industrial colour graphic printing equipment (Multi Colour Printer, Adhesive
Laminator, Precision Cutter) and industrial label material (NEMA 4X label face, colour foils,
adhesive) rated -50F to 150F to produce all labels.

 Panel Identification labels

 Manufacturer Identification labels – using our customer’s brand (colours / logo)
 Operator Device labels
 Component Device labels
 Terminal Block labels

FINAL ASSEMBLY

Punch or drill all required holes to accommodate all components, DIN Rail and wire duct per
the design drawings. Install DIN Rail and wire duct. Mount all components, pre-produced
component Device ID labels, Terminal Block labels, and Door mounted Device labels. Install
all pre-produced wires per the data printed on each wire and per the design drawings.

79
MATERIAL HANDLING EQUIPMENT:

 Hoist
 Hand Pallet Truck
 Elevator

INVENTORY CONTROL METHOD:

In our organization we use weighted average method to control the inventory.

QUALITY CONTROL METHOD:

Our purpose is to Cater Customer by providing Solutions through our expertise in System
Integration, Control Panel Manufacturing, Automation & Process Controls and moving up the
value chain as the most trusted business partner. By Installing a System of Policies &
Procedures which will minimize defects/delays and improve efficiency of the process by
continually monitoring & improving processes, training of personnel & working very closely
with our customers to establish a partnership for success in today’s business environment.

NAME AND ADDRESS OF ANOTHER PLANT:

VELOX Automation Pvt. Ltd.

AHMEDABAD - A-209, Safal Pegasus, Anandnagar Road,

Prahlad Nagar, Ahmedabad – 380015,

Gujarat, India.

80
 CHAPTER

ANY OTHER DEPARTMENT

81
 CHAPTER

6.1

PURCHASE/STORE DEPARTMENT

82
Our company follows JITS (Just in Time System) for Purchase Procedure: -Just-in-time, or
JIT, is an inventory management method in which goods are received from suppliers only as
they are needed. The main objective of this method is to reduce inventory holding costs and
increase inventory turnover.

PURCHASE PROCEDURE:

PURPOSE: To Explain the Procedure of Purchasing required accessories & product for
panel manufacturing.

SCOPE: All the Accessories required to manufacture panel except Siemens products.

DEFINITIONS& ABBREVIATIONS:

1. Sr. – Senior
2. Sys. – System
3. Engg. – Engineer
4. BOM – Bills of Material
5. P.O – Purchase Order
6. Mfg. – Manufacturing

83
RESPONSIBILITY:

1. To ensure timely receipt of the material.

2. Sr. Engg to maintain the minimum Inventory level of specified product.
3. To Record and maintain all the documentation regarding the procedure.
4. To ensure proper placement of the material in the stores.
5. PROCEDURE:

STEP-1 PURCHASE EQUIPMENT LIST:

 Purchase Department received Purchase Equipment list from Marketing Department as

per approval
 Equipment List is handed over to Stores and ERP Department for Material
Availability through mail.
 Stores revert to ERP and Purchase department with material availability.
 Indent is created as material equipment list.

STEP-2 INDENT:

 Purchase Order is raised in IMMS

STEP-3 DRAFT PURCHASE ORDER:

 Purchase Order is given for approval to Accounts Manager.

STEP-4 APPROVED PURCHASE ORDER:

 Purchase Order is sent to External Provider.

STEP-5 RELEASE OF PURCHASE ORDER:

 External provider process the purchase order and dispatches goods as per requirement
dates/lead time with Challan and Invoice.

84
STEP-6 MATERIAL RECEIPT:

 Once goods received, quality control is done.

 After Quality Control Clearance, Goods Receipt Note is prepared.
 Goods rejected are replaced with external provider by preparing Goods Returnable Gate
Pass.

STEP-7 GOODS RECEIPT NOTE:

 Material is allotted by stores department as per projects number and parallel allocated
by ERP department in IMMS.

STEP-8 MATERIAL ALLOCATION:

 Material issued to Production Department by preparing Material Issue Slip as per

Material Requisition/Bill of Material.

STEP-9 MINIMUM INVENTORY:

 Apart from Project Based Material, indent is raised from stores to arrange panel
accessories.
 Once Indent is authorized, Purchase Order is raised.
 Approved and mail to External Provider.

CLASSIFICATION OF GOODS:

Classification of goods is done on the basis of ABC wise analysis: -

 A Class - High value materials.

 B Class - Moderate value materials.
 C Class – Low value materials.

85
PURCHASE LEAD TIME

For A class normal lead time is 4-8 weeks.

For B and C class normal lead time is 7-10 days.

ORDERING COST AND CARRYING COST:

 Average Ordering Cost for the financial year 2021-22 was 22 Crores.
 Average Carrying Cost per month is 5 Crores.

GENERAL DETAILS ABOUT PURCHASE DEPARTMENT:

 Budgetary value of inventory

 Minimum – 8 lakhs.
 Maximum – 60 lakhs.

LIST OF SUPPLIERS:

 SIEMENS:

From more resource-efficient factories, resilient supply chains, and smarter buildings and grids,
to cleaner and more comfortable transportation, Siemens creates technology with purpose
adding real value for customers. By combining the real and the digital worlds, Siemens
empowers its customers to transform their industries and markets, to transform the everyday
for people.

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  PHOENIX:

Phoenix Technologies was the first independent firmware provider and has been pioneering
firmware innovation since 1979 with nearly a billion units installed worldwide. Phoenix
designs, develops, and secures firmware for a wide range of computing devices including
computers, laptops, servers, IoT, and other advanced computing platforms and devices.

 OMRON:

As a global leader in the field of automation, OMRON’s business fields cover a broad
spectrum, ranging from industrial automation and electronic components to social systems
including automated ticket gates and solar power conditioners, healthcare. At present, OMRON
provides products and services in around 120 countries and regions.

 RITTAL:

Innovative strength has been woven into the Rittal DNA since its foundation. In 1961, Rudolf
Loh Elektrogerätebau was founded in Rittershausen by the entrepreneur Rudolf Loh, with one
simple guiding principle: “Enclosures off the shelf, immediately.” In its founding year it
launched the world’s first standard enclosure on the market. In 1969, the company was renamed
Rittal, in honour of its roots in Rittershausen in Dietzhölztal. Within just a few years, Rittal
enclosures had become established as a global standard, and have remained so to this day.

 LARSEN & TOUBRO:

Larsen & Toubro is an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing
and Services. It operates in over 50 countries worldwide. A strong, customer-focused approach
and the constant quest for top-class quality have enabled L&T to attain and sustain leadership
in its major lines of business for over eight decades.

 SCHNEIDER:

Schneider's purpose is to empower all to make the most of our energy and resources, bridging
progress and sustainability for all. At Schneider, we call this Life Is On.

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  ASEA BROWN BOVERI:

ABB is a leading global technology company that energizes the transformation of society and
industry to achieve a more productive, sustainable future. By connecting software to its
electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of
technology to drive performance to new levels. With a history of excellence stretching back
more than 130 years, ABB’s success is driven by about 105,000 talented employees in over
100 countries

 LAPP:

Headquartered in Stuttgart, Germany, LAPP is a leading supplier of integrated solutions and

branded products in the field of cable and connection technology. We have over 60 years of
experience in manufacturing industrial cables, connectors, cable glands and conduits and other
cable related accessories. We are a one stop solution provider for all our customer
requirements.

 Other Suppliers.

RE-ORDERING TIME:

 For A class materials re-ordering time is not estimated because it is order as per
requirement of the client’s products.
 For B and C class materials re-ordering time is 7-10 days.

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 CHAPTER

6.2

CORPORATE SOCIAL
RESPONSIBILITY

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SOCIALLY ACCOUNTABLE:

Velox firmly believes as part of its Core Value that as a part of this society, it is our duty to
contribute to the society for upliftment of needy and deprived sections of the society.
Velox participates in various on-going activities of different NGOs for welfare of society.

CSR ACTIVITIES DONE BY OUR COMPANY:

1. BLOOD DONATION CAMP:

DONATE BLOOD, SAVE LIFE

Velox organised talk on “Benefits of Blood Donation” which is delivered by Mr. Parimal Vyas
of Raktdan Kendra and also subsequently organised Blood Donation Camp where we could
donate considerable amount of blood units to Raktdan Kendra.

2. LITERACY / EMPLOYABILITY

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 NAVNIRMAN – A LEADING EDGE COMPUTER CENTER

In association with Rotary Club of Udhna, Surat and Kantha Vibhag Navnirman Mandal Trust,
“Navnirman”- A leading edge Computer Center is established to provide computer training to
the youth of rural areas. Main objective is to provide platform to the students coming from
lower-income group and less educated families. Computer knowledge gained from this Center
and their regular academic education will enhance student’s skill sets and confidence. It will
provide them an edge over others to stand in today’s highly competitive digital world.

3. SPORTS:

COMMUNITY SPORTS
Various NGOs in the city of Surat organises Community sports to foster the spirit of:

 Social values

 Nation building and patriotism

 Welfare of society

Velox plays active role in such activities. We believe more in contributing in such activity
without aim of any publicity.

ROTATHLON was one of such Cycling Rally organized at Surat to enhance awareness and
foster Cleanliness, Traffic Awareness, Fitness Drive, Literacy, Health amongst the people of
Surat.

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Along with Rotary Club of Udhna, Velox management has played key role in organizing this
event.

4. COVID-19:

FIGHT AGAINST GLOBAL PANDEMIC DUE TO COVID - 19

Velox extended its full support to local authorities in fighting against this global pandemic
through active participation with Rotary Club in providing foods for daily wage workers of the
city. Organisation as well as employees have voluntarily contributed in fundraising program
for the same.

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 CHAPTER

6.3

PROJECT DEPARTMENT

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PROJECT DEPARTMENT INCLUDES:

 Service Report / Time Sheet

 Expenses Report
 Drive Test Report
 Leave Form
 Advance request form
 Customer annual maintenance report
 Internal Factory Acceptance Test
 Customer Factory Acceptance Test
 Work Completion certificate

ROLES AND RESPONSIBLITIES:

 Attend a Kick of Meeting

 Co-ordinate with Design team and check the prepared automation panel drawing by
design team
 Send drawing to customer for approval and take necessary follow up
 PLC/HMI/Drive/SCADA etc. software development
 Attend commissioning of Project
 Attend service call
 Prepared project related documents
 Check the internal mail and be active for project work take follow up with internal
department & customer

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PROJECT PATH FLOW:

In project management, the path is the longest sequence of tasks that must be completed to
complete a project, if they’re delayed, the whole project completion will be delayed.

Finding the critical path is very important for project managers because it allows them to:

 Accurately estimate the total project duration.

 Identify task dependencies, resource constraints and project risks.
 Prioritize tasks and create realistic project schedules.

 Firstly the client sends the order enquiry to the company.

 Then, project department shows a rough outline of the project to the clients.
 After the approval of outline the sales marketing releases the Bill of Material
 Once the BOM is release the design department prepare the final drawing of the project.
 Then the design department send the drawing to the customer for the approval.
 After the approval of the customer the project department gives the project to
manufacturing department for further work.
 Manufacturing department checks the QC of the product and then then they do the
internal factory acceptance test which is also known as i-fat.
 Then they handover the project to the project department and they do the customer
factory acceptance test also known as c-fat.
 After the completion of project once the payment is received they dispatch the panels.
 At the time of dispatching they sign an agreement so that after the delivery if any
physical damage occurs they are not responsible for that.

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 CHAPTER

6.4

SAFETY DEPARTMENT

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NUMBER OF FIRE EXTINGUISHERS:

 Total extinguishers available in our company are 7-8.

SAFETY EQUIPMENT PROVIDED TO WORKERS:

 Helmets, Eye Glasses, Safety shoes and gloves.

WORKMEN’S COMPENSATION POLICY:

 Covered all the employee compensation policy including contract employees.

LIST OF LIFE INSURANCE POLICY:

 No life insurance policy is available in our company.

LIST OF GENERAL INSURANCE POLICY:

 Fire Insurance/ Stock Policy

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HEALTH AND SAFETY POLICY:

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 CHAPTER

CONCLUSION

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To sum all of this up, this internship was a great as well as a great experience. It has helped
us modify our skills and become more professional. We have gained new knowledge, skills
and met lot of new people. We achieved various goals including the learning goals. We got
insights of professional practice. We learned the different angles of working within a
corporate company.

We experienced that financing (as in many organisations) is an important factor for the
progress of projects. This internship helped us find out what our strengths and weaknesses
were which indeed made us understand what skills and knowledge we need to work on in the
coming future. It would be better if multi linguistic knowledge becomes sufficient to
contribute fully to the projects. However we could have performed some of the given tasks in
research, better, if we practiced or knew more about the research methodologies applied. It
would’ve been better if we could present and express ourselves much confidently.

All in all, this internship has played a very vital role in shaping and modifying ourselves
along with preparing us for future opportunities in the business world.

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BIBLIOGRAPHY:
[Link]
[Link]

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ANNEXURE:

GENERATING NEWSLETTER FOR CUSTOMERS:

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103
HEALTH AND SAFETY POLICY:

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