INTERNSHIP REPORT

ON

“WALVOIL FLUID POWER (INDIA) PVT LTD”

Submitted by
RATHNAVEL S
1OX22BA036

Submitted to
VISVESVARAYA TECHNOLOGICAL UNIVERSITY, BELAGAVI
In partial fulfillment of internship requirements of

MASTER OF BUSINESS ADMINISTRATION

Under the guidance of

INTERNAL GUIDE EXTERNAL GUIDE

Dr. HARISH N Mr. PRADEEP KUMAR M
Assistant Prof. Executive HR&Admin
Department of MBA

DEPARTMENT OF MBA
THE OXFORD COLLEGE OF ENGINEERING
Bommanahalli, Hosur road, Bangalore-560068

OCT- NOV 2023

 (Recognized by the Govt. of Karnataka, Affiliated to Visvesvaraya Technological University, Belagavi&
Approved by A.I.C.T.E. New Delhi, accredited by NAAC with A & NBA New Delhi and Recognized by UGC Under Section 2(f))
Bommanahalli, Hosur Road, Bangalore –560068.
: 080 -61754601/602, Fax: 080 – 25730551 E-mail: engprincipal@theoxford.edu Web: www.theoxfordengg.org

CERTIFICATE

This is to certify that RATHNAVEL S bearing USN:1OX22BA036, is a bonafide student of

Master of Business Administration course of the Institute (Batch 2022 - 24) affiliated to
Visvesvaraya Technological University, Belagavi. The internship report on “WALVOIL FLUID
POWER (INDIA) PVT LTD " is prepared by him under the guidance of Dr. HARISH N., Asst.
Professor Department of MBA in partial fulfilment of the requirement for the award of the Degree
of Master of Business Administration of Visvesvaraya Technological University, Belagavi,
Karnataka.

Signature of Internal Guide Signature of Director-MBA/MCA

For Viva Voce

1)

2)
 DECLARATION

I RATHNAVEL S, hereby declare that the Internship report on “WALVOIL FLUID POWER
(INDIA) PVT LTD” Prepared by me under the guidance of Dr. HARISH N, Asst. Professor
Department of MBA, The oxford college of engineering, Bangalore and external assistance from
Mr. PRADEEP KUMAR M (Executive HR and Admin).

I also declare that the internship is undertaken by me after the second semester of Master of
Business Administration (MBA) is as per the curriculum requirement and the regulations stipulated
by Visvesvaraya Technological University, Belagavi. I have undertaken this internship program
for a period of four weeks from (19th October 2023 to 21st November 2023).

I further declare that this internship is based on the original study undertaken by me and has not
been submitted for the award of any degree/diploma from any other University/Institution.

Place: Bangalore Signature

Date: Name: RATHNAVEL S

USN NO:1OX22BA036
 ACKNOWLEDGEMENT

An internship is an opportunity in a management student’s career where he can acquire invaluable

knowledge as to how an organization actually functions as well as the process of the work. The
satisfaction that accompanies the successful completion of any study would be incomplete without
mentioning the people who made it possible, whose consistent guidance and encouragement
crowned my efforts with success.

Firstly, I like to take this opportunity to convey my sincere thanks to Dr. Anitha Ramachander,
Director, Department of MBA/MCA, The Oxford College of Engineering. And I wish to
express my profound gratitude to Dr. K Tharaka Rami Reddy, Dr. Sahana A, Dr. M Kathiravan
and Dr. V Lakshmi Suneetha, Faculty, Department of MBA, for their constant encouragement
and guidance throughout the completion of the study.

I am also grateful to my guide Dr. Harish N, Asst. Professor, Department of MBA, for his
invaluable guidance, constant support and inspiration throughout the internship as well as his
encouragement, suggestion and guidance to complete this internship successfully.

I express my sincere and hearty thanks to Mr. Sriram Patwari (HR manager) and Mr. Pradeep
Kumar M (Executive HR and Admin) of the esteemed organization for their suggestions and
encouragement given to pursue this internship successfully.

I thank all the staff of MBA Department, faculty members and employees of “Walvoil Fluid Power
(India) Pvt Ltd” who helped me in resolving the problems that I faced during the conceptual
understanding and preparation of this internship report.

Last but not the least, I am grateful to my beloved family members and all of my friends for their
moral support, suggestions and encouragement which helped me accomplish this report.

Name: RATHNAVEL S
USN NO:1OX22BA036
 TABLE OF CONTENTS
SL. No PARTICULARS PAGE No.

Chapter 1 Introduction to manufacturing industry, fluid power Industry 1-4

profile
Chapter 2 Organization profile 5-6

2.1 ➢ Back ground 7

2.2 ➢ Nature of business 8

2.3 ➢ Vision, mission, quality policy 8-9

2.4 ➢ Work flow model 10-11

2.5 ➢ Product/service profile 12-13

2.6 ➢ Ownership pattern 14

2.7 ➢ Achievements/Awards 15

2.8 ➢ Future growth & prospects 15

Chapter 3 McKinsey’s 7S framework and porters five force model with

special reference to organization study
3.1 ➢ MC Kinsey’s 7S frame work 16-22
3.2 ➢ Porters five force model 23-26

Chapter 4 SWOT Analysis 27-29

Chapter 5 Analysis of financial statement 30-42

5.1 ➢ Consolidated balance sheet
5.2 ➢ Income statement
5.3 ➢ Ratio analysis
5.4 ➢ Comparative analysis
5.5 ➢ Common size analysis
Chapter 6 Learning Experience 43

Chapter 7 Bibliography 44
 LIST OF TABLES
SL NO PARTICULARS PAGE NO
2A COMPANY PROFILE 5-6
2.4.1 WORK FLOW MODEL 10-11
2.6.1 OWNERSHIP PATTERN 14
5.1 CONSOLIDATED BALANCE SHEET 30
5.2 INCOME STSTEMENT 31
5.3.1 CURRENT RATIO 32
5.3.2 QUICK RATIO 32
5.3.3 ABSOLUTE LIQUID RATIO 33
5.3.4 DEBT EQUITY RATIO 34
5.3.5 ASSET TURNOVER RATIO 35
5.3.6 PROPRIETARY RATIO 36
5.4.1 COMPARITIVE INCOME STATEMENT 2021-22 37
5.4.2 COMPARITIVE INCOME STATEMENT 2022-23 38
5.4.3 COMPARITIVE BALANCE SHEET 2021-22 39
5.4.4 COMPARITIVE BALANCE SHEET 2022-23 40
5.5.1 COMMON SIZE INCOME STATEMENT 41
5.5.2 COMMON SIZE BALANCE SHEET 42

LIST OF GRAPHS AND FIGURES

SL NO PARTICULARS PAGE NO
3.1.1 MC KINSEY’S 7S FRAME WORK 16
3.1.2,3 ORGANISATION STRUCTURE 17
3.1.4 4 M’S OF ORGANISATION 18
3.2.1 PORTERS FIVE FORCE MODEL 23
4.1 SWOT ANALYSIS 27
5.3.1 CURRENT RATIO 32
5.3.2 QUICK RATIO 33
5.3.3 ABSOLUTE LIQUID RATIO 33
5.3.4 DEBT EQUITY RATIO 34
5.3.5 ASSET TURNOVER RATIO 35
5.3.6 PROPRIETARY RATIO 36
 EXECUTIVE SUMMARY

The internship report is prepared at “Walvoil fluid power India Pvt Ltd” as a part of curriculum of
the MBA program for the duration of 4 weeks which provided an opportunity to understand and
appreciate the working of an organization.

The report consists of six chapters and every chapter explains different aspects related to the
company. All of the details are collected through company official website and records like financial
statement, balance sheet and so on are collected through the same means.

First chapter consists about Introduction about the organization and industry.

Organization profile, which is the second chapter, concentrates on the company’s history, nature of
the business, vision mission and quality policy as well as future growth and prospects.

The third chapter focuses on MC Kinsey’s 7S framework, which covers the “soft Ss” of “style, staff,
skills, and shared values” as well as the “hard Ss” of “strategy, structure, and system”. All these 7S
are studied on the basis of the organization frame, and it is very useful to analyze where the
company is heading with respect to overall performance in the industry.

This chapter also focuses on porter’s five force model, i.e. threat of new entrants, threat of
substitute products, rivalry among existing competitors, bargaining power of buyers, and bargaining
power of suppliers. These five elements influence how fiercely a market is competitive and how
profitable it is.

The fourth chapter includes SWOT analysis, which outlines the company’s strength, weakness,
opportunities, and threats. The ability to exploit the opportunities and strengths, and the chances to
lessen the threats and weaknesses is aided by the SWOT analysis.

The fifth chapter focuses on the analysis of financial statements, which enables us to understand the
company’s financial situation.

And the sixth chapter provides an opportunity to share my learning experience that I gained during
the period of my internship at “Walvoil fluid power India Pvt Ltd”.
 CHAPTER- 1

INTRODUCTION TO MANUFACTURING INDUSTRY

Manufacturing is the creation or production of goods with the help of equipment’s, labor, machine,
tools and chemical biological processing or formulation. It is the essence of secondary sector of the
economy. The term may refer to a range of human activity, from handicraft to high-tech, but it is
most commonly applied to industrial design, in which raw materials from the primary sector are
transformed into finished goods on a large scale such goods may be sold to other manufacturers for
the production of other more complex products (such as aircraft, household appliances, furniture,
sports equipment or automobiles) or distributed via the tertiary industry to end users and consumers
(usually through wholesalers, who in turn sell to retailers, who then sell them to individual
customers).

A globally competitive manufacturing sector is India's greatest potential to drive economic growth
and job creation this decade. Due to factors like power growth, long-term employment prospects,
and skill routes for millions of people, India has a significant potential to engage in international
markets. Several factors contribute to their potential. First off, these value chains are well positioned
to benefit from India's advantages in terms of raw materials, industrial expertise, and
entrepreneurship. Second, they can take advantage of four market opportunities: expanding exports,
localizing imports, internal demand, and contract manufacturing.

With digital transformation being a crucial component in achieving an advantage in this fiercely
competitive industry, technology has today sparked creativity. Manufacturing sector in India is
gradually shifting to a more automated and process driven manufacturing which is expected to
increase the efficiency and boost production of the manufacturing industry. India is gradually
progressing on the road to Industry 4.0 through the Government of India’s initiatives like the
National Manufacturing Policy which aims to increase the share of manufacturing in GDP to 2 .25
percent by 2025 and the PLI scheme for manufacturing which was launched in 2022 to develop the
core manufacturing sector at par with global manufacturing standards.

Manufacturing has emerged as one of the high growth sectors in India. Prime Minister of India, Mr.
Narendra Modi, launched the ‘Make in India’ program to place India on the world map as a
manufacturing hub and give global recognition to the Indian economy. Government aims to create
100 million new jobs in the sector by 2022.

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FLUID POWER INDUSTRY

Fluid power industries refer to companies that specialize in the design, production, and distribution
of hydraulic and systems and components. These industries play a crucial role in various industries,
providing essential components and services for the construction, maintenance, and repair of fluid
power systems. They also constantly innovate and improve their products to meet the changing
needs of their customers. Fluid power industries contribute significantly to the global economy by
supporting various industries such as manufacturing, construction, agriculture, mining, and
transportation.

Hydraulic systems use pressurized oil to transmit power, while pneumatic systems use compressed
air. Both types of systems are commonly used in industrial and mobile applications for a wide range
of purposes, including lifting, pushing, pulling, and controlling the movement of machinery.

One of the key factors driving the growth of the hydraulic product manufacturing industry in India
is the increasing demand for efficient and high-performance hydraulic systems. With the rapid
growth of industries such as construction and mining, there is a growing need for powerful and
reliable hydraulic equipment to carry out various tasks. This has led to a rise in the demand for
hydraulic products in the country.

The Fluid Power Industry has evolved comprehensively over the last century and has generated
intensive research, efficient production systems and integrated applications.

Fluid Power industry has three large segments: Mobile Hydraulics, Industrial Hydraulics and
Pneumatics. Historically, the Mobile Hydraulic segment has been the largest, accounting for about
50% of total Fluid Power sales. The Industrial Hydraulic and Pneumatic segments are nearly the
same size, each with about 25% of total Fluid Power sales.

In the contemporary industrial world, fluid power, particularly the hydraulics branch of it, is a magic
world for energy transmission. The application of fluid power is causing many positive changes in
the world around us. The application of hydraulic control and drive systems have resulted in new
designs and improved efficiency for machines and installations. The use of fluid under pressure to
transmit power and to control intricate motions is relatively modern and has led its greatest
development in the past few decades.

Industrial hydraulics is necessary it can move rapidly in one part of its length and slowly in another.
No other medium combines the same degree of positiveness, accuracy, and flexibility, maintaining
the ability to transmit a maximum of power in a minimum of bulk and weight.

Page | 2
HISTORY

The history of the fluid power industry in India can be traced back to the mid-20th century, with the
introduction of hydraulic and pneumatic technology in various industrial sectors. The industry
initially focused on catering to the needs of the agriculture and construction sectors, providing
equipment and systems for machinery and heavy equipment.

As India's industrialization and infrastructure development gained momentum in the following

decades, the demand for fluid power products grew significantly. This led to the establishment of
several domestic manufacturing companies specializing in hydraulic and pneumatic systems and
components.

In the 1980s and 1990s, India saw a surge in foreign collaborations and joint ventures in the fluid
power industry, leading to technology transfer and the adoption of advanced manufacturing
processes. This helped Indian companies improve their product offerings and compete more
effectively in the global market.

The early 2000s saw a further boost to the fluid power industry with the government's focus on
promoting domestic manufacturing through initiatives such as 'Make in India'. This led to increased
investments in the industry, capacity expansion, and the development of new products and
technologies.

Today, the fluid power industry in India continues to evolve, with a focus on innovation,
sustainability, and digitalization. Companies are investing in research and development to create
more efficient and environmentally friendly fluid power products, catering to the evolving needs of
various industries.

AN OVERVIEW ON INDIAN HYDRAULIC PRODUCT MANUFACTURING INDUSTRIES

The Fluid Power Industry is a $25 billion industry globally. The USA is the largest player with
share of $11.5 billion, followed by Germany, Italy and Japan.

The Indian Fluid Power Industry is worth $1 billion, of the total Indian Fluid Power market of Rs.
6000 Crores, the Pneumatic sector accounts for approximately 1600 Crores. However, there is a
large unorganized sector comprising of over 30% of the market share.

The Indian hydraulic product manufacturing industry is a significant sector within the country's
manufacturing landscape. It encompasses the production of various hydraulic products such as
hydraulic cylinders, hydraulic pumps, hydraulic valves, hydraulic motors, and hydraulic power
packs. These products find applications in a wide range of industries including construction,
agriculture, mining, automotive, aerospace, and defence.

Page | 3
The industry has experienced substantial growth in recent years due to several factors. Firstly, the
increasing demand for advanced and efficient hydraulic systems in various sectors has driven the
growth of this industry. The need for higher productivity, improved performance, and reduced
energy consumption has led to the adoption of hydraulic systems in many applications.

Secondly, the government's focus on infrastructure development and initiatives like "Make in India"
have boosted the demand for hydraulic products. The construction and mining sectors, in particular,
have witnessed significant growth, leading to increased demand for hydraulic equipment.

Thirdly, the presence of a skilled workforce and a strong manufacturing base has contributed to the
growth of the hydraulic product manufacturing industry in India. The country has a large pool of
engineering talent and a well-established network of suppliers and manufacturers, which enables the
production of high-quality hydraulic products at competitive prices.

The Indian hydraulic product manufacturing industry is highly fragmented, with numerous small
and medium-sized enterprises (SMEs) operating alongside a few large players. While the SMEs
cater to local markets and specific industries, larger companies have a broader customer base and
often export their products to other countries.

However, the industry also faces some challenges. The availability of raw materials, especially high-
quality steel and alloys, at competitive prices can be a concern. Additionally, the lack of
standardized quality control processes across the sector can lead to variations in product quality.

Despite these challenges, the Indian hydraulic product manufacturing industry has immense
potential for growth. The increasing demand for hydraulic systems, coupled with favorable
government policies and technological advancements, is expected to drive the industry's expansion
in the coming years.

RECENT TRENDS

Recent trends in the Fluid Power Industry show massive global waves of consolidation / acquisition
/ Mergers as companies aim to offer a broader range of Fluid Power Products and Solutions.
Customers too want a “Total Fluid Power Package of Components / Systems”.

INDUSTRY GROWTH

The industry had two remarkable periods of growth in the last 14 years. The average annual growth
rate between 1987 and 1990 was 9.5%. Currently the industry is experiencing growth as much as
20% aided by the huge demand for Construction Equipment in the Infrastructure Projects and
robust growth in the other sectors. The Fluid Power Industry will continue to witness remarkable
growth in the coming years due to strong demand for equipment in the infrastructure sector.

Page | 4
 CHAPTER 2

ORGANISATION PROFILE

Source: https://www.walvoil.com

Walvoil Fluid Power (India) Private Limited is an unlisted private company incorporated on 26
July, 2005. It is classified as a private subsidiary of a foreign company and is located in Bangalore,
Karnataka. Its authorized share capital is INR 45.00 Cr and the total paid-up capital is INR 8.17 cr.

The company is a supplier industrial product. It offers hydraulic valve, mechatronic system, earth
moving machine, and lifting equipment.
COMPANY PROFILE

Name Walvoil fluid power (India) Pvt ltd

Incorporation date 26 July, 2005

Location No. 19, 2nd Cross, 2nd Main, KIADB Attibele

Area, Attibele Hobli Anekal Taluk Bangalore
KA 562107
Head quarters Walvoil S.p.A. Direzione e Coordinamento
Inter pump Via Adige 13/D
42124 Reggio Emilia - ITALY
Website www.walvoil.co.in

Email info@walvoil.co.in

Page | 5
 Industry Manufacturing (Machinery & Equipments)

Company status Active

Registrar of companies (RoC) RoC-Bangalore

Registration Number 36841

Company Category Private company

Company Sub Category Subsidiary of Foreign Company

Class of Company Private

Date of Incorporation 26 July 2005

Age of Company 18 years

Activity Manufacture of general-purpose machinery

CIN (Corporate Identification Number) U29120KA2005FTC036841

PAN AAACW5954E

License Number MYB-23503

GST No. 29AAACW5954E1Z3

Number of employees 701

Production type Automatic

Ware housing Facility Yes

Authorized capital 45 crores

Paid up capital 8.16 crores

Directors 4

CEO and MD Mr Seshnath B

FACTORY MANAGER Mr Ashwath N

LAST REPORTED AGM DATE 20 September, 2023

Table 2A

Page | 6
2.1 BACK GROUND
In keeping with Walvoil’s global mission of offering an integrated system of hydraulic and
electronic products for mobile machinery and to work closely with customers to develop best-in-
class techno- commercial solutions, Walvoil Fluid Power India Pvt Ltd was established as a wholly-
owned Subsidiary in 2005, in Bangalore.

In April 2018, the Indian operations of Hydro control Hydraulic Technologies Ltd (another
powerful global brand in hydraulic mobile control valves) merged into Walvoil Fluid Power India
Pvt Ltd. and the combined company relocated to a new state-of-the-art manufacturing facility in
Attibele, Bangalore.

Walvoil India has now grown into one of the Walvoil Group’s largest manufacturing plants.

Walvoil India has developed a number of path-breaking mobile hydraulic solutions, as an active
participant in the global Product Development Process of Walvoil:

➢ Highly innovative and eco-friendly Power Saving Solutions for the demanding applications in
Backhoe Loaders, leading to significant reductions in fuel consumption;

➢ Cost-effective new-generation valves for meeting the exacting demands in the cost-sensitive
Indian Agriculture sector;

➢ Compact valves for the Material Handling sector.

Walvoil India is a proud member of the Interpump Group, listed on the Milan (Italy) stock exchange
and featuring among the top 40 ‘Excellence Securities’.

Walvoil Fluid Power Pvt Ltd is a Bangalore based company that specializes in providing hydraulic
and electronic solutions for industrial applications. The company offers wide range of products and
services, including hydraulic valves, electronic controls, and integrated systems for various
industries such as agriculture, construction, and material handling.

With a strong focus on innovation and quality, Walvoil Fluid Power Pvt Ltd has established itself as
a leading provider of fluid power solutions in the region. The company is known for its reliable and
efficient products, as well as its commitment to customer satisfaction.

Page | 7
2.2 NATURE OF BUSINESS

The nature of business of Walvoil Fluid Power Pvt Ltd is to provide hydraulic and electronic
solutions for industrial applications. This includes the design, manufacturing, and distribution of
hydraulic valves, electronic controls, and integrated systems for various industries such as
agriculture, construction, and material handling. The company also offers customized solutions to
meet the specific needs of their clients and is known for its commitment to innovation, quality, and
customer satisfaction.

➢ It is a subsidiary of the Walvoil groups an international leader in the design and manufacturing
of hydraulic valves and systems.
➢ The company is based in Bangalore, India and specializes in providing high quality fluid-power
solutions for various industries.
➢ It offers a wide range of hydraulic valves pumps, motors and other components that are used in
applications such as construction, equipment, agricultural machinery, industrial automation and
material handling.
➢ The company has a strong focus on research and development and continuously innovating to
meet the evolving needs of its customers.
➢ With a commitment to quality, Walvoil fluid power India ensures that its products are
manufactured using the latest technology and adhere to international standards.
➢ The company also provide excellent after sales service and technical support to its customers.
➢ Walvoil fluid power India Pvt ltd is known for its expertise in fluid power systems and its ability
to provide reliable and efficient solution for various industries.

2.3 VISION, MISSION, QUALITY POLICY

VISION

After 50 years of experience, the vision of the company has not changed.

They still recognize themselves in their vision: “To alleviate human fatigue with integrated and
safe hydraulic power solutions.”

MISSION
The mission of the Subsidiary is:

➢ To support Indian manufacturers and the Indian operations of Global OEM’s with local
production at global quality levels, supported by a highly competent technical assistance service.

➢ To continuously develop new applications, to meet the customers’ evolving requirements

➢ To co-design projects with customers, as is being done globally by Walvoil.

Page | 8
COMPANY OBJECTIVES

➢ On-Time Delivery in Full

➢ Reduce Customer Complaints
➢ Reduce internal rejection, rework and scrap

WALVOIL INDIA-QUALITY AND ENVIRONMENTAL POLICY

"This Policy is a dynamic document, defining the commitment of Walvoil Fluid Power India Pvt
Ltd. towards Quality and Environment.

Walvoil Fluid Power India Private Limited is committed to produce Quality products and also
protect the Environment by:

➢ Ensuring Environment protection and product Quality through-out life cycle of product by
optimization of processes and product design.

➢ Compliance to all legal and regulatory requirements.

➢ Use of Eco-friendly process methodologies and materials to prevent impact on environmental

performance by optimizing consumption of energy, water and other resources.

➢ Adopting methods of Reduce, Reuse and Recycle of waste through continual

improvements through defined objectives.

➢ Developing and sustaining environment and business methodologies to ensure safety

and harmonious relationship between stakeholders and society.

➢ Adopting commitment to satisfy applicable customer requirements and simultaneously ensuring

the strategic direction of the organization"

Page | 9
2.4 WORK FLOW MODEL
A work flow model is a visual representation of the steps and processes involved in completing a
task or project. It outlines the sequence of actions, decisions, and interactions required to achieve a
specific goal. Work flow models are used in various industries and organizations to improve
efficiency, streamline processes, and ensure consistency in work processes. There are several types
of work flow model like

1. Sequential work flow model

2. Parallel work flow model
3. State machine work flow model
4. Dynamic work flow model
5. Case-based work flow model
6. Human-driven work flow model
7. System-driven work flow model

In Walvoil fluid power Pvt ltd, sequential workflow model is used, which follows a linear sequence
of steps, where each step must be completed before moving in to the next one. The following are
steps followed by Walvoil fluid power Pvt ltd firm:

STEPS OPERATIONS DESCRIPTION/PROCESS CONTROL

CHARACTERISTICS TOOLS/METHODS
Step 1 Receiving raw materials Quantity and Storage SAP

Step 2 Inward inspection (casting spool -visual defects Inspection reports

and other parts) -linear dimension
Step 3 Incoming inspection of Inspecting the parts as per Inspection reports
machined parts drawing
Step 4 Storage Storing the received raw SAP
materials
Step 5 Machining of castings To cut or remove material from Inspection reports
the castings to make
the dimensions more
accurate
Step 6 Grinding Smoothening t h e c a s t i n g s Inspection reports
by rubbing it

Step 7 Sectional washing Removing the dust, machining Visual inspection

chips and rust material

Page | 10
Step 8 Visual inspection Identifying the visual defects One point
lesson (convey
instructions in a
simple and visually
manner)
Step 9 Coining/Expander plug Expander tool depth and tool Checklists
punching monitoring
Step 10 Stacking of valves Assemble the inlet, sections and Manufacturing
outlet as per schema execution system
traceability
Step 11 Honing Smoothening and sharpening Run chart inspection
Spool bore Surface finishing reports

Step 12 Ultra sonic washing (20-40 khz) Removing dusts, chips and Millipore report
foreign particles
Step 13 Child parts (sub-parts) washing Removing dusts, chips and Visual inspection
foreign particles
Step 14 Assembling Assembling the valves as per Assembly check list
schema
Step 15 Dip testing Measuring the strength of the Dip test record
valves and checking external
leakage
Step 16 Final testing Testing internal leakage and Automatic t e s t
r i g reports
ARV/MRV pressure setting
Step 17 Painting Painting the valves as per control Painting check list
plan and final drawing
Step 18 Packing Packing the equipments as per SAP/manufacturing
packing standards Execution system
traceability
Table 2.4.1

Page | 11
2.5 PRODUCT PROFILE

I. DIRECTIONAL VALVES AND REMOTE CONTROLS

Monoblock Valves

Sectional Valves

Flexible Cable Remote Controls

Source: https://www.walvoil.com

II. PUMPS AND MOTORS

Variable Displacement Piston Pump

Aluminium Gear Pumps

Cast Iron Gear Pumps

Source: https://www.walvoil.com

Page | 12
III. COMPACT HYDRAULICS

Hydraulic Valves

Diverter Valves

Hydraulic Integrated Circuits (HICs)

Source: https://www.walvoil.com

IV. ELECTRONIC COMPONENTS & PHC SYSTEMS

Handles

Joy Sticks

Source: https://www.walvoil.com

Page | 13
2.6 OWNERSHIP PATTERN
The ownership pattern of Walvoil fluid power Pvt Ltd is partnership in which Ivano Corghi and
Alessandro Mazzali is responsible for all aspects of the business, including its profits and liabilities.

LIST OF DIRECTORS

SL.NO NAME OF THE DIN DATE OF PAN ADDRESS

DIRECTOR APPOINTMENT
1 Mr. Fabio Marsi 9256698 27/07/2021 Via De
- Rossi 10,
Boretto
Reggio
Emilia,
Reggio,
Emilia,
Italy
2 Mr. Balasubramanian 00055948 27/08/2012 ABWPS #37,29th
Seshnath 2918N Cross, 7th
Block,
Jayanagar,
Bangalore,
Karnataka,
India-
560082
3 Mrs. Sandra 00798199 Via R.Lotti,
Mattioli - N/A 9/03,
Reggio
Nell’
Emilia,
Italy
4 Mr. Paolo Margini 00798198 Via San
- N/A Girolamo,
3/A, Reggio
Nell, Emilia,
Italy
Table 2.6.1

Page | 14
2.7 ACHIVEMENTS AND AWARDS

➢ At the JCB India Suppliers Conference held on 15th December 2021, Walvoil has been awarded
for quick and comprehensive development of New Products and subsequent rapid ramp-up of
production, in the New Product Introduction Programme category.
➢ On the occasion of the Kubota Supplier Day on November 18th, Walvoil has been awarded the
KUBOTA GREEN AWARD.
➢ At technical innovation 2020-21 awards it received EIMA technical award.
➢ Recognition for excellence in product design and innovation.
➢ Awards for outstanding customer service and satisfaction.
➢ Certifications for quality management systems and environmental sustainability.
➢ Accolades for technological advancements and contributions to the industry
➢ Recognition for successful partnerships and collaborations with other businesses or
organizations in the industry.

2.8 FUTURE GROWTH AND PROSPECTS

The future growth and prospects of Walvoil Fluid Power Pvt Ltd in Bangalore look promising. The
company has a strong presence in the fluid power industry and has been providing innovative
solutions for various applications. With the increasing demand for fluid power systems in sectors
such as construction, agriculture, and industrial automation, Walvoil is well-positioned to capitalize
on these opportunities.

Additionally, the company has been investing in research and development to develop advanced
fluid power technologies that can meet the evolving needs of the market. This focus on innovation
will enable Walvoil to stay ahead of the competition and continue to grow its market share.

Furthermore, Bangalore's status as a hub for technology and manufacturing will provide Walvoil
with access to a skilled workforce and a supportive business environment, which will further
contribute to its growth prospects.

Overall, with its strong market position, focus on innovation, and favorable business environment in
Bangalore, Walvoil Fluid Power Pvt Ltd is well-positioned for future growth and success in the
fluid power industry.

Page | 15
 CHAPTER 3
MC KINSEY’S 7S FRAME WORK AND PORTERS FIVE FORCE MODEL WITH
SPECIAL REFERENCE TO ORGANISATIOANL STUDY

3.1 MC KINSEY’S 7S FRAME WORK

The MC KINSEY’s 7S, it is management model, that describes the 7 elements to organize the
company in a holistic and an effective way. They are the factors which signifies the operation of the
organization. The lead of the organization should consider all the 7 factors for the successful
implementation of the strategy.

The McKinsey 7S model is a management framework developed by consulting firm McKinsey &
Company. Since then, it is known as “MC KINSEY’s 7s framework”.

It identifies seven internal factors of an organization that need to be aligned and mutually
reinforcing to be successful. The seven elements, all starting with the letter "S," are: strategy,
structure, systems, shared values, style, staff and skills.

Structure

Strategy System

Shared
values

Skills Style

Staff

Figure 3.1.1

Page | 16
STRUCTURE
The organization structure of Walvoil fluid power India Pvt ltd

Seshnath B
CEO And MD

Ashwath N Rangan K R V Venkata Krishnan E S

Dy CEO-Operations Dy CEO-commercial CFO

D Sandeep Varma Vinay R Rajesh N S Murugesh G

Romanshu Gupta
GM-production GM-quality GM-after Sales Sr. Manager
Head-sales And
And Service Marketing Accounts
Sunder Singh B
Machine Shop, DGM-SQA
Assembly, Testing Mehaboob Amaravati
DGM-design

Figure 3.1.2

Chairman

Board of
directors

Human
Finance Marketing R&D Operations Quality
resource

General General General General General General

Manager Manager Manager Manager Manager Manager

Manager Manager Manager Manager Manager

Manager

Senior Senior Senior Senior Senior

Senior
Executives Executives Executives Executives Executives Executives

Executives Executives Executives Executives Executives Executives

Trainee Trainee Trainee Trainee Trainee

Trainee
Executive Executive Executive Executive Executive
Executive
Figure 3.1.3

Page | 17
The departments of the organization are divided on the basis of 4 M’s

Human resource Purchase dept Sales and marketing

Production dept
maintenance dept dept Quality dept Finance and accounts

Machine Men Material Money

Figure 3.1.4
The functions of these departments are as follows:
Purchases & stores
Raw materials
➢ Components
➢ Tools
➢ Consumables
➢ Semi-finished & Finished goods store for dispatch
Quality department
➢ Receiving, In-process, Final inspection including Rejection/ Rework areas
➢ Measuring instruments, gauges, calibration

Human Resource Department

➢ Recruitment & training
➢ Welfare & Safety
➢ Payroll management
➢ Statutory compliance
Finance & accounts Department
➢ Payables & receivables Management
➢ Profit & Loss
➢ Balance sheet
➢ Cash flow management
➢ Financial management

Production Department

➢ Man power
➢ Machine Lay out
➢ Material arrangement

Page | 18
Painting & packing Department

➢ Spray painting
➢ Wooden packing

Sales & Marketing Department

➢ Planning and executing marketing strategies

➢ Track trends, monitoring competition and customer service

STRATEGY
This refers to the plan or direction set by an organization to achieve its goals. It includes the
decisions made regarding resource allocation and the choices made to address the external
environment.
The company's strategy is to provide high-quality fluid power products and services to customers in
the Bangalore area. This includes a focus on innovation and continuous improvement to stay ahead
of competitors.

➢ Product Innovation: Walvoil Fluid Power Pvt Ltd focuses on continually developing new and
innovative fluid power products to meet the evolving needs of their customers. This includes
investing in research and development to stay ahead of industry trends and technological
advancements.

➢ Quality Assurance: The company places a strong emphasis on maintaining high- quality
standards in their manufacturing processes and products. This involves implementing stringent
quality control measures and continuously improving their production techniques to ensure the
reliability and performance of their fluid power solutions.

➢ Customer Focus: Walvoil Fluid Power Pvt Ltd prioritizes understanding and meeting the
specific requirements of their customers. This involves building strong relationships with clients,
providing personalized solutions, and offering exceptional customer service to ensure
satisfaction and loyalty.

➢ Market Expansion: The company is committed to expanding its market presence by identifying
new opportunities and reaching out to potential customers in different regions. This may involve
establishing partnerships, participating in trade shows, and exploring new distribution channels
to increase their market share.

Page | 19
➢ Sustainability: The company is dedicated to sustainable business practices, including
minimizing environmental impact, promoting ethical sourcing, and ensuring the health and safety
of their employees. This commitment to sustainability helps them to differentiate themselves in
the market and attract environmentally conscious customers.

SYSTEMS
These are the processes and procedures that guide the organization's operations. Systems include
both formal processes, such as financial systems and information systems, and informal processes
like communication and decision-making processes.

The company has efficient systems in place for production, sales, and customer service. They
use advanced technology and processes to ensure timely delivery and high-quality products.

➢ Research and Development System: This system focuses on investing in research and
development to drive product innovation and stay ahead of industry trends and technological
advancements.

➢ Quality Control System: The company has a stringent quality control system in place to ensure
high-quality standards in their manufacturing processes and products. This system continuously
improves production techniques to maintain reliability and performance.

➢ Customer Relationship Management System: Walvoil Fluid Power Pvt Ltd has a system in
place to prioritize understanding and meeting the specific requirements of their customers. This
system helps in building strong relationships, providing personalized solutions, and offering
exceptional customer service.

➢ Operational Process Optimization System: Walvoil Fluid Power Pvt Ltd has systems in place to
continuously optimize operational processes to enhance productivity, reduce costs, and improve
overall efficiency. This includes streamlining production, implementing lean manufacturing
principles, and adopting advanced technologies.

➢ Sustainability Management System: The company has a system in place dedicated to

sustainable business practices, including minimizing environmental impact, promoting ethical
sourcing, and ensuring the health and safety of their employees. This system helps them
differentiate themselves in the market and attract environmentally conscious customers.

Page | 20
STYLE

This relates to the leadership style and culture of the organization. It encompasses the way key
managers behave in achieving the organization's goals and the overall corporate culture.

The leadership style at the company is participative, with a focus on empowering employees and
promoting open communication. Participative leadership is a type of democratic leadership style in
which subordinates are intentionally involved in organizational decision making.

SKILLS
This refers to the capabilities and competencies of the organization's employees. It includes the
collective skills, knowledge, and abilities that give the organization its competitive advantage.
All the employees are required to have all the skills pertaining to the work culture of the
organization and inculcate the essential necessities for the work that they need to perform.
Top level: It requires more conceptual skills, experience, and decision-making ability.
Middle level: It requires managerial skill, problem solving capacity.
Lower level: It requires more technical skills and knowledge.

The company employs highly skilled and experienced professionals in all departments. They also
invest in training and development to continuously improve the skills of their employees.
The skills of employees at Walvoil Fluid Power Pvt Ltd in Bangalore include expertise in hydraulic
and electronic control systems, precision engineering, product development, quality assurance,
customer relationship management, market analysis, operational optimization, and sustainability
practices.

The company's team is highly skilled in research and development, manufacturing processes,
customer service, and project management. They also possess a deep understanding of industry
trends, customer needs, and market dynamics, allowing them to stay competitive and deliver
innovative solutions to their customers.

STAFF
This refers to the organization's human resources, the people who work for the organization. It
includes aspects like the number of employees, their competencies, and how they are organized.
The company has a diverse workforce with employees from different backgrounds and expertise.
They have a mix of experienced professionals and fresh talent, creating a dynamic and innovative
team.
The staff at Walvoil Fluid Power Pvt Ltd is highly skilled and experienced in various areas such as
hydraulic and electronic control systems, precision engineering, product development,

Page | 21
quality assurance, customer relationship management, market analysis, operational optimization,
sustainability practices, research and development, manufacturing processes, customer service, and
project management. They are also knowledgeable about industry trends, customer needs, and
market dynamics, enabling them to provide innovative solutions to their customers. The team is
dedicated to delivering high-quality products and services while maintaining strong customer
relationships.

SHARED VALUES
This element represents the core values and beliefs of the organization. It is the fundamental, deeply
ingrained principles that guide the decisions and behaviour of individuals within the organization.
The company has a strong culture of teamwork, collaboration, and customer focus. This is reflected in
their core values of integrity, excellence, and customer satisfaction.

The values shared at Walvoil fluid power India Pvt ltd are
➢ Solidity: We base our actions on experience and competence, strong pillars that guarantee
constant reliability, with the aim of producing long lasting products.
➢ Sustainability: Keeping environment consciousness in mind, we increasingly rely on the use of
processes designed to ensure the saving and reuse of energy and all manner of resources.
➢ Care: We strongly invest in the nurturing and growth of our employees, by enhancing people’s
talent through continuous training, that eventually inspires creativity and action. A strictly
ethical approach to business, is the foundation for assuring the well- being of our employees
and continued success of our company.
➢ Authenticity: Our vision for the future draws its strength from our roots and is based on people
value and development and continuous innovation in our products and processes.
➢ Globally open: We have taken our know-how across borders, opening up to new markets and
offering opportunities for professional growth also abroad.

By analyzing these seven elements, we can see that Walvoil fluid power Pvt ltd Bangalore is well-
aligned and positioned for success. However, there may be room for improvement in certain areas
such as streamlining processes and investing in new technologies to stay ahead of competitors. By
using the McKinsey 7 S framework, the company can identify these areas and make necessary
changes to further improve their effectiveness and competitiveness in the market.

Page | 22
 3.2 PORTERS FIVE FORCE MODEL

Threat Of New Entrants

01
Bargaining power
of Suppliers

05 02
PORTERS
FIVE Bargaining Power
FORCES of Customers

Threat of
Substitutes 04 03 Competitive Rivalry

Figure 3.2.1

Porter's Five Forces is a strategic framework that helps to analyze the competitive forces within an
industry. The model identifies and examines five competitive forces that shape every industry and
determine its level of competition and profitability. The model was developed by Harvard Business
School professor Michael Porter in 1979 and has become a widely used tool for business strategy
and decision-making. These five forces are:

THREAT OF NEW ENTRANTS

This force assesses the ease with which new competitors can enter the market. Barriers to entry may
include high initial investment costs, brand loyalty, government regulations, and economies of scale.
The higher the barriers, the less attractive the industry is for new entrants.

The threat of new entrants for Walvoil in Bangalore may be influenced by factors such as barriers to
entry, brand loyalty, and the level of competition in the market. The presence of high barriers to
entry, such as high capital requirements, strict regulations, and strong brand loyalty among
customers, may reduce the threat of new entrants. However, if the market is relatively open and
there are few barriers to entry, the threat of new competitors entering the market may be higher. It is
important for Walvoil Fluid Power Pvt Ltd to continuously innovate and differentiate its products
and services in order to maintain a competitive advantage and deter potential new entrants.

Page | 23
BARGAINING POWER OF SUPPLIERS

Suppliers' power is assessed by considering how much control and influence they have over the
prices of inputs (raw materials, labour, etc.) provided to the industry. Suppliers who have significant
control over the availability and cost of key inputs can exert pressure on companies in the industry.
If there are few suppliers or if they provide unique or critical inputs, their power is higher.
The bargaining power of suppliers for Walvoil Fluid Power Pvt Ltd in Bangalore may be influenced
by factors such as the availability of alternative suppliers, the uniqueness of the company's products
and services, and the overall demand for components and materials in the market. Additionally, the
level of competition and the relationship between Walvoil Fluid Power Pvt Ltd and its suppliers
may also impact the bargaining power of suppliers. It is important for Walvoil Fluid Power Pvt Ltd
to maintain strong relationships with its suppliers and to have alternative sourcing options in order to
mitigate any potential increase in supplier bargaining power.

The raw materials used by Walvoil fluid power ltd are as follows:

i. Fittings vii. Iron castings

ii. CETOP valves viii. Stainless steel
iii. Springs ix. Wires
iv. Lugs x. Cables
v. Plastic xi. Alloys
vi. Spools xii. Coolant oil

The major suppliers of raw materials to the company are:

➢ Associated Hydro Pressings Private Limited, Bangalore

➢ Craftsman Automation, Bangalore
➢ DMW CNC Solutions India Pvt Ltd, Hosur
➢ Global Cast Solutions Pvt ltd, Coimbatore
➢ Grotek Enterprises Pvt ltd, Bangalore
➢ Hindustan Die Castings, Coimbatore
➢ Indo Shell Mould Ltd, Coimbatore
➢ Leo Prime Company Pvt Ltd, Chennai
➢ SAIN Industries, Chhattisgarh
➢ Unique Precision, Bangalore
➢ Pratheek C.N.C
➢ Premier Sealing Products

Page | 24
BARGAINING POWER OF BUYERS

This force examines the power that buyers (customers) have in the market. Buyers who have
significant influence over the price and quality of products or services can put pressure on
companies to lower prices or improve quality.

The more buyers there are and the more they purchase, the greater their bargaining power. If buyers
have many choices their bargaining power is high. On the other hand, if there are few alternatives or
the product is unique, the bargaining power of buyers is lower.

The bargaining power of buyers of Walvoil Fluid Power Pvt Ltd in Bangalore may be influenced by
factors such as the availability of alternative suppliers, the differentiation of the company's products
and services, and the overall demand for fluid power products in the market. Additionally, the level
of competition and pricing strategies within the industry may also impact the bargaining power of
buyers. It is important for Walvoil Fluid Power Pvt Ltd to understand and address the needs and
concerns of its buyers in order to maintain a competitive advantage and customer loyalty.

The major customers of the company are:

➢ BEML ltd, KGF

➢ Tractors and Farm Equipment, Chennai
➢ Tata Hitachi Construction Machinery, Dharwad
➢ Hayas Hydraulics, Maniyakaranpalyam
➢ Bull machines Pvt Ltd, Coimbatore
➢ VST tillers tractors Ltd, Hosur
➢ Doosan BOBCAT India Pvt Ltd, Bangalore
➢ Larsen and Toubro Ltd, Bangalore
➢ Tractors and Farm equipment ltd, Madurai
➢ EPIROC mining India Pvt Ltd, Nashik

THREAT OF SUBSTITUTE PRODUCTS OR SERVICES

This force examines the degree to which other products or services can replace those offered by the
company. The availability of substitutes puts a cap on prices that can be charged, affecting the
industry's profitability. The easier it is for customers to switch to substitutes, the higher the threat.
The threats of substitutes for Walvoil Fluid Power Pvt Ltd in Bangalore could come from alternative
products or services that serve a similar purpose or provide similar benefits to customers.

Page | 25
To mitigate the threats of substitutes, Walvoil Fluid Power Pvt Ltd can focus on differentiating their
products and services, highlighting their unique value proposition, and staying ahead of industry
trends. Building strong customer relationships and providing excellent customer service can also
help in retaining customers and reducing the likelihood of them switching to substitutes.
Additionally, investing in research and development to innovate and stay ahead of potential
substitutes can also help in maintaining a competitive edge in the market.

RIVALRY AMONG EXISTING COMPETITORS

This force assesses the level of competition among existing firms in the industry. Factors
influencing rivalry include the number and strength of competitors, market growth, product or
service differentiation, and exit barriers. High competition often leads to reduced profitability, price
wars, intense marketing efforts, and other tactics to gain market share.
Walvoil Fluid Power Pvt Ltd in Bangalore is influenced by factors such as the number and strength
of competitors, the rate of industry growth, and the level of differentiation among products and
services.
The level of product differentiation can also impact competitive rivalry. If Walvoil Fluid Power Pvt
Ltd offers unique and innovative products and services that set them apart from their competitors,
they may face less direct competition. However, if the market is saturated with similar offerings, the
competitive rivalry may be more intense.

Some of the competitors of the company are:

➢ BJ Fluid Power- Hydraulic Power Pack

➢ Delta Hydraulic Systems
➢ Quality Hydraulic Solutions
➢ HTM Hydraulics Pvt Ltd
➢ Canara Hydraulics Pvt Ltd
➢ DTS Hydraulic Systems
➢ Surya Hydraulics
➢ Drive Hydraulics Products Pvt Ltd
➢ HAWE Hydraulics Pvt Ltd
➢ RR Hydraulics

Page | 26
 CHAPTER -4
SWOT ANALYSIS

STRENGTH WEAKNESS

OPPORTUNITY THREATS

Figure 4.1

SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to evaluate a
company's competitive position and to develop strategic planning. SWOT analysis pulls information
internal sources (strengths of weaknesses of the specific company) as well as external forces that
may have uncontrollable impacts to decisions (opportunities and threats).

It is a framework that help to assess and understand the internal and external forces that may create
opportunities or risks for an organization. SWOT analysis works best when diverse groups or voices
within an organization are free to provide realistic data points rather than prescribed messaging.

SWOT helps in building a strong business strategy by considering all the factors that it faces in the
market place.

STRENGTHS
Internal attributes that give an advantage over others.
Some areas where Walvoil is having competitive advantage over the others are:
➢ Strong commitment to excellence, ensuring high-quality products and services for customers.
➢ Customer-focused approach, building strong and lasting relationships with clients.
➢ Emphasis on innovation, staying ahead of industry trends and providing innovative solutions.
➢ Operating with integrity, honesty, and ethical behaviour, building trust and reliability with
customers.
➢ Collaborative team, leveraging each other's skills and expertise to deliver the best results.

Page | 27
➢ Dedication to continuous improvement, constantly seeking ways to enhance processes, products,
and services.
➢ Commitment to sustainability, ensuring positive environmental and community impact.

WEAKNESS
Internal attributes that place an organization at a disadvantage relative to others. Some of the areas
where Walvoil need to improve are:
➢ Limited brand recognition and market presence, potentially hindering the company's ability to
compete with larger, more established firms.
➢ Lack of diversification in product offerings, limiting the company's ability to meet the varied
needs of different industries and customers.
➢ Potential for inefficiencies in operations and processes, leading to higher costs and reduced
competitiveness.
➢ Limited investment in research and development, potentially hindering the company's ability to
stay ahead of industry trends and provide innovative solutions.
➢ Lower ability to adapt to rapidly changing market dynamics.
➢ Potential for limited talent acquisition and retention, impacting the company's ability to
maintain a skilled and diverse workforce.
➢ Trade union’s cooperation with the management.

OPPORTUNITY
External factors that could be leveraged to improve performance. Some
of the opportunities prospering from the market are:
➢ Government investments in infrastructure projects can drive demand for fluid power systems
used in construction equipment and other applications.
➢ Supportive energy policies, especially those promoting renewable energy, can create
opportunities for fluid power companies.
➢ Stringent environmental regulations may drive innovation in fluid power technologies to create
more environmentally friendly solutions.
➢ Governments may provide incentives or subsidies for businesses that invest in energy- efficient
technologies.
➢ Government incentives for the adoption of new technologies, including digitalization and
Industry 4.0 practices, can encourage fluid power companies to invest in modernizing their
processes and systems.
➢ Tax credits or incentives for businesses engaged in manufacturing or technology development
can positively impact the financial health of fluid power companies.

Page | 28
➢ Collaboration between government agencies and private companies in research, development,
and infrastructure projects can create a supportive ecosystem for the fluid power industry.

THREATS
External factors that could hinder performance.
➢ Intense competition from other established players in the fluid power industry, leading to
potential market share erosion and pricing pressures.
➢ Economic and geopolitical uncertainties impacting international markets, leading to potential
disruptions in expansion plans and global operations.
➢ Rapid technological advancements and changing customer preferences, posing a threat to the
company's existing product offerings and necessitating continuous innovation.
➢ Supply chain disruptions and raw material price fluctuations, impacting production costs and
potentially affecting the company's profitability.
➢ Regulatory changes and compliance requirements in different markets, leading to increased
operational complexities and potential legal challenges.
➢ Talent retention and skill shortages, leading to potential gaps in workforce capabilities and
hindering the company's growth and innovation efforts.
➢ Environmental and sustainability concerns, leading to potential regulatory pressures and
changing customer expectations for eco-friendly products and practices.

SWOT analysis is a simple but powerful tool that can be used to improve decision-making. By
identifying strengths, weaknesses, opportunities, and threats, individuals and organizations can
develop strategies that capitalize on their strengths and opportunities, while mitigating their
weaknesses and avoiding threats. It's a versatile tool applicable to various scenarios, including
business planning, product development, project management, and personal development.

Page | 29
 CHAPTER - 5
ANALYSIS OF FINANCIAL STATEMENT

5.1 CONSOLIDATED BALANCE SHEET OF WALVOIL FLUID POWER INDIA PVT LTD FROM
2019-2023 ( ₹ In Lakhs)

Particulars 2020-21 2021-22 2022-23

A. Equity & Labilities
1.Shareholders Fund
a. Share Capital 4500 4500 4500
b. Reserves & Surplus 8864.31 11660.02 16200.1
Sub-Total 13364.31 16160.02 20700.1
3.Non-current labilities
a. Long-term Borrowings 6731.41 7942.27 9617.61
b. Other long term liabilities 811.83 1521.34 2209.46
c. Deferred tax liabilities 100.00 - 186.30
d. Long-term Provision 2655.87 4139.25 6275.87
Sub-Total 10299.11 13602.86 18289.24
4.Current Liabilities
a. Short-term Borrowing 3475.73 6303.76 7651.33
b. Trade Payments 2786.33 3740.51 5930.80
c. other Current Liabilities 5695.76 6914.33 8592.74
d. Short-term Provision 938.87 1545.21 2644.60
Sub-Total 12896.69 18503.81 24819.47
Total Equity & Liabilities 36560.11 48266.69 63808.81
B. Assets
1.Non-Current Assets
a. Fixed Assets 12560.21 16069.68 21374.72
b. Deferred Tax Assets 273.82 538.76 1611.88
c. Long-term Loans & Adv 936.70 1872.92 2727.85
d. Other Non-current assets - 126.50 189.49
Sub-Total 13770.73 18607.86 25903.94
2.Goodwill 1539.47 2683.68 4176.74
3.Non-Current Investment 4180.40 6875.63 8038.33
4.Current Assets
a. Current Investment 4023.67 5628.78 7160.24
b. Inventories 1798.91 2067.67 3513.54
c. Trade Receivables 3675.53 3895.64 4153.12
d. Cash and Cash equivalents 5014.53 5688.46 6276.97
e. Short-term loans & Adv 1216.22 1313.13 2475.97
f. Other Current assets 1340.65 1505.84 2109.96
Sub-Total 17069.51 20099.52 25689.8
Total Assets 36560.11 48266.69 63808.81
Table 5.1

Page | 30
5.2 INCOME STATEMENT OF WALVOIL FLUID POWER INDIA PVT LTD FOR THE YEAR
ENDED 2020-2023 (Amount in Lakhs ₹)

Sl.no PARTICULARS 2020-21 2021-22 2022-23

Continuing operations
I. Revenue from operations 25416 37526 37632
II. Other incomes 1324 1529 2747
III. Total income (i + ii) 24092 39055 40379
IV. Expenses
a. Selling expenses 317 349 413
b. Administration expenses 442 534 752
c. Cost of material consumed 12142 17846 20385
d. Purchases of stock in trade 3641 5713 5013
e. Changes in inventories of finished goods, stock
in trade and work in progress (1162) (1563) (1964)
f. Employee benefit expenses 1723 3385 3014
g. Financial Cost 1245 1761 2453
h. Depreciation and amortization expenses 483 753 1017
i. Other expenses 1373 4729 2367
V. Total expenses 20204 33507 33450
VI. Profit and loss before exceptional items, interest
and tax 3888 5548 6929
VII. Exceptional items - net loss (753) (990) (1197)
VIII. Profits before interest and tax 3135 4558 5732
IX. Interests (1267) (1371) (1723)
X. Profit before tax 1868 3187 4009
XI. tax expenses
a. Current tax 100 110 130
b. Deferred tax 8 10 14
Total tax expenses 108 120 134
XII. Profit from continuing operation (ix-x) 1760 3067 3865
XIII. Discontinued operations
a. Profit /(loss) for discontinued operations (70) (87) (98)
b. Gain on disposal of assets/ settlement of
liabilities attributable to the discontinued
operations(net) 794 1061 1254
c. Tax expenses of discontinued operations (37) (44) (67)
XIV. Profit / loss after tax from discontinued
operations 687 930 1089
XV. Profits for the year 2447 3997 4954
Table 5.2

Page | 31
5.3 RATIO ANALYSIS
CURRENT RATIO
The current ratio is calculated by dividing current assets by current liabilities.

CURRENT RATIO TABLE OF WALVOIL FLUID POWER INDIA PVT LTD (₹ In Lakhs)

Year Current assets Current liabilities Current ratio

2020-21 9800.58 7162.59 1.37
2021-22 17069.51 12896.69 1.32
2022-23 20099.52 18503.81 1.08
Table 5.3.1

CURRENT RATIO CHART

1.5 1.37 1.32
1.08
1

0.5

0
2020-21 2021-22 2022-23
Annual years

Graph 5.3.1
INTERPRETATION: The above table shows that the current ratio for the years 2020-21, 2021-22
and 2022-23 are 1.37, 1.32 and 1.08 times. Comparing to 2020-21 to 2021-22 the current ratio is
decreased by 0.5, because there has been increase in the current assets and increase in current
liabilities. The current assets are decreased due to gains incurred by the company. Due to profit the
company’s current assets levels are decreasing. In the year 2022-23 there is decrease in current ratio
by 0.24 times in the year.

QUICK RATIO

The Quick Ratio, also known as the Acid-Test Ratio, is a financial metric that measures a company's
ability to meet its short-term obligations with its most liquid assets. Quick ratio or acid test ratio is
estimating the current assets minus inventories then divide by current liabilities.

QUICK RATIO TABLE OF WALVOIL FLUID POWER INDIA PVT LTD (₹ In Lakhs)
Year Quick assets Current liabilities Current ratio
2020-21 8716.04 7162.59 1.23
2021-22 15270.6 12896.69 1.18
2022-23 18032.02 18503.81 0.97
Table 5.3.2

Page | 32
 QUICK RATIO CHART
1.5 1.23 1.18
0.97
1
0.5
0
2020-21 2021-22 2022-23
Annual years

Graph 5.3.2

INTERPRETATION: In the above table quick assets includes current assets, cash and bank
balances, loans and advances excludes inventory. It was inferred from the above table that quick
ratio for the year 2020-21, 2021-22 and 2022-23 is 1.23, 1.18 and 0.97 times. It indicates that there
is gradual decrease in quick ratio year to year.

ABSOLUTE LIQUID RATIO

The Absolute Liquid Ratio, also known as the Absolute Liquidity Ratio or Cash Assets Ratio, is a
financial metric that assesses a company's ability to meet its short-term obligations using its most
liquid assets. The formula for the Absolute Liquid Ratio is:

Absolute liquid ratio = 𝐶𝐴𝑆𝐻 𝐴𝑁𝐷 𝐶𝐴𝑆𝐻 𝐸𝑄𝑈𝐼𝑉𝐴𝐸𝑁𝑇𝑆+𝑀𝐴𝑅𝐾𝐸𝑇𝐴𝐵𝐿𝐸 𝑆𝐸𝐶𝑈𝑅𝐼𝑇𝐼𝐸𝑆

𝐶𝑈𝑅𝑅𝐸𝑁𝑇 𝐿𝐼𝐴𝐵𝐼𝐿𝐼𝑇𝐼𝐸𝑆

ABSOLUTE LIQUID RATIO TABLE OF WALVOIL FLUID POWER INDIA PVT LTD (₹ In
Lakhs)

Year Absolute liquid assets Current liabilities Absolute liquid ratio

2020-21 2748.73 7162.59 0.38

2021-22 5014.53 12896.69 0.39

2022-23 5688.46 18503.81 0.31

Table 5.3.3

ABSOLUTE LIQUID RATIO CHART

0.6
0.38 0.39
0.4 0.31

0.2
0
2020-21 2021-22 2022-23
Annual years

Graph 5.3.3

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INTERPRETATION: Above table shows that absolute liquid ratio has been increased in the year
2021-22 by 0.01 times compare to the year 2020-21 which is 0.38 times. And there is a decrease in
absolute liquid ratio in the year 2022-23 by 0.8 times compared to the previous year 2021-22 i.e.
0.39 times.

DEBT EQUITY RATIO

The Debt-to-Equity Ratio (D/E ratio) is a financial metric that compares a company's total debt to its
total equity, serving as an indicator of the proportion of debt used to finance a company's assets. It is
a measure of financial leverage and risk. The formula for calculating the Debt-to-Equity Ratio is:

Debt-to-equity ratio = 𝐿𝑂𝑁𝐺 𝑇𝐸𝑅𝑀 𝐷𝐸𝐵𝑇

𝑇𝑂𝑇𝐴𝐿 𝐸𝑄𝑈𝐼𝑇𝑌

DEBT-TO-EQUITY RATIO TABLE OF WALVOIL FLUID POWER INDIA PVT LTD (₹ In Lakhs)

Year Long term debt Total equity Debt equity ratio

2020-21 4323.76 7625.31 0.57

2021-22 6731.41 13364.31 0.50

2022-23 7942.27 16160.02 0.49

Table 5.3.4

DEBT EQUITY RATIO CHART

0.6 0.57
0.55
0.5 0.49
0.5

0.45
2020-21 2021-22 2022-23
Annual years

Graph 5.3.4

INTERPRETATION

The above chart shows that the debt equity ratio of the company lies in between 0.5-1 i.e. 2020-21 is
0.57, 2021-22 is 0.50 and in 2022-23 is 0.49. It indicates that the company relies twice as much on
equity to drive growth than it does on debt. This also means that the company has half the liabilities
as it has equity. It also indicates that most of the company’s assets are financed by equity and
Investors own two-thirds of the company's assets.

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ASSET TURNOVER RATIO
The Asset Turnover Ratio is a financial metric that measures a company's efficiency in generating
revenue from its assets. It assesses how well a company utilizes its assets to generate sales. The
formula for calculating the Asset Turnover Ratio is:

Asset turnover ratio = 𝑆𝐴𝐿𝐸𝑆

𝑇𝑂𝑇𝐴𝐿 𝐴𝑆𝑆𝐸𝑇𝑆

ASSET TURNOVER RATIO TABLE OF WALVOIL FLUID POWER INDIA PVT LTD (₹ In
Lakhs)

Year Sales Total assets Asset turnover ratio

2020-21 25416 21438.28 1.18

2021-22 37526 36560.11 1.03

2022-23 37632 48266.69 0.78

Table 5.3.5

ASSET TURNOVER RATIO CHART

1.4
1.18
1.2 1.03
1
0.78
0.8
0.6
0.4
0.2
0
2020-21 2021-22 2022-23
Annual years

Graph 5.3.5
INTERPRETATION
The above table shows that the Asset turnover ratio for the years 2020-21 and 2021-22 are 1.18 and
1.03 times. There is decrease in the asset turnover ratio by 0.25 times in the year 2022-23. The asset
turnover ratio in year 2022-23 is 0.78 times. The chart states that the revenue generation of the
company from its assets has been gradually decreasing with a increase in the total assets of the
company.

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PROPRIETARY RATIO

Proprietary ratio is a financial ratio that measures the proportion of a company’s total assets that are
financed by its shareholders equity. It provides a rough estimate of the amount of capitalization
currently used to support a business.

Proprietary ratio = 𝑇𝑂𝑇𝐴𝐿 𝐸𝑄𝑈𝐼𝑇𝑌

𝑇𝑂𝑇𝐴𝐿 𝐴𝑆𝑆𝐸𝑇𝑆

PROPRIETARY RATIO TABLE OF WALVOIL FLUID POWER INDIA PVT LTD (₹

In Lakhs)
Year Total equity Total assets Proprietary ratio

2020-21 7625.31 21438.28 0.36

2021-22 13364.31 36560.11 0.37

2022-23 16160.02 48266.69 0.33

Table 5.3.6

PROPRIETARY RATIO CHART

0.38
0.37
0.37
0.36
0.36
0.35
0.34
0.33
0.33
0.32
0.31
2020-21 2021-22 2022-23
Annual years

Graph 5.3.6

INTERPRETATION

The company’s proprietary position is very well consistent and the capitalization of the shareholders
are well managed. Which can therefore be concluded that its wealth maximization is accelerating.

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5.4 COMPARITIVE ANALYSIS

COMPARATIVE INCOME STATEMENT FOR THE YEAR ENDED 2021-22

PARTICULARS 2020-21 2021-22 Absolute Percentage

change change
Continuing operations Revenue
from operations 25416 37526 12110 47.65
Other incomes 1324 1529 205 15.48
Total income 24092 39055 14963 62.11
Expenses
Selling expenses 317 349 32 10.09
Administration expenses 442 534 92 20.81
Cost of material consumed 12142 17846 5704 46.98
Purchases of stock in trade 3641 5713 2072 56.91
Changes in inventories of finished
goods, stock in trade and work in
progress (1162) (1563) 401 34.51
Employee benefit expenses 1273 3385 2112 165.91
Financial Cost 1245 1761 516 41.45
Depreciation and amortization expenses 483 753 270 55.90
Other expenses 1373 4729 3356 244.42
Total expenses 20204 33507 13303 65.84
Profit and loss before exceptional items,
interest and tax 3888 5548 1660 42.69
Less: Exceptional items - net loss (753) (990) 237 31.47
Profits before interest and tax 3135 4558 1423 45.39
Less: Interests (1267) (1371) 104 8.21
Profit before tax 1868 3187 1319 70.61
tax expenses
Current tax 100 110 10 10
Deferred tax 8 10 2 25
Less:Total tax expenses 108 120 12 11.11
Profit from continuing operation 1760 3067 1307 74.26
Discontinued operations
Profit /(loss) for discontinued operations (70) (87) 17 24.29
Gain on disposal of assets/ settlement of
liabilities attributable to the discontinued
operations(net) 794 1061 267 33.63
Tax expenses of discontinued operations (37) (44) 7 18.92
Add: Profit / loss after tax from discontinued
operations 687 930 243 35.37
Profits for the year 2447 3997 1550 63.34
Table 5.4.1
Interpretation: The company achieved a significant growth in revenue and operating income.
Operating expenses and interest expenses also increased, with at a greater percentage compared to
the growth in revenue and gross profit. The 62.11% increase in net income indicates that the
company's profitability improved substantially.

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 COMPARATIVE INCOME STATEMENT FOR THE YEAR ENDED 2022-23

PARTICULARS 2021-22 2022-23 Absolute Percentage

change change
Continuing operations
Revenue from operations 37526 37632 106 0.28
Other incomes 1529 2747 1212 79.26
Total income 39055 40379 1324 3.39
Expenses
Selling expenses 349 413 64 18.33
Administration expenses 534 752 218 40.82
Cost of material consumed 17846 20385 2539 14.23
Purchases of stock in trade 5713 5013 (700) (12.25)
Changes in inventories of finished
goods, stock in trade and work in
progress (1563) (1964) 401 25.65
Employee benefit expenses 3385 3014 (371) (10.96)
Financial Cost 1761 2453 692 39.29
Depreciation and amortization expenses 753 1017 264 35.05
Other expenses 4729 2367 2362 49.94
Total expenses 33507 33450 (57) (0.17)
Profit and loss before exceptional items,
interest and tax 5548 6929 1381 24.89
Less: Exceptional items - net loss (990) (1197) 207 20.90
Profits before interest and tax 4558 5732 1174 25.76
Less: Interests (1371) (1723) 352 25.67
Profit before tax 3187 4009 822 25.79
tax expenses
Current tax 110 130 20 18.18
Deferred tax 10 14 4 40
Less:Total tax expenses 120 134 14 11.66
Profit from continuing operation 3067 3865 798 26.01
Discontinued operations
Profit /(loss) for discontinued operations (87) (98) 11 12.64
Gain on disposal of assets/ settlement of
liabilities attributable to the discontinued
operations(net) 1061 1254 193 18.19
Tax expenses of discontinued operations (44) (67) 23 52.27
Add:Profit / loss after tax from discontinued
operations 930 1089 159 17.09
Profits for the year 3997 4954 957 23.94
Table 5.4.2
Interpretation: According to the comparative income statement above, in the year 2022–2023 the
revenue and total income have increased, while total expenses have increased significantly and a
profit was made for the year.

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 COMPARITIVE BALANCE SHEET FOR THE YEAR ENDED 2021-22
Particulars 2020-21 2021-22 Absolute Percentage
change change
A. Equity & Labilities
1.Shareholders Fund
a. Share Capital 4500 4500 0 0
b. Reserves & Surplus 8864.31 11660.02 2795.71 31.54
Sub-Total 13364.31 16160.02 2795.71 20.91
3.Non-current labilities
a. Long-term Borrowings 6731.41 7942.27 1210.86 17.98
b. Other long term liabilities 811.83 1521.34 709.51 87.39
c. Deferred tax liabilities 100.00 - 0 0
d. Long-term Provision 2655.87 4139.25 1483.38 55.85
Sub-Total 10299.11 13602.86 3303.75 32.07
4.Current Liabilities
a. Short-term Borrowing 3475.73 6303.76 2828.03 81.37
b. Trade Payments 2786.33 3740.51 954.18 34.25
c. other Current Liabilities 5695.76 6914.33 1218.57 21.39
d. Short-term Provision 938.87 1545.21 606.34 64.58
Sub-Total 12896.69 18503.81 5607.12 43.48
Total Equity & Liabilities 36560.11 48266.69 11706.58 32.02
B. Assets
1.Non-Current Assets
a. Fixed Assets 12560.21 16069.68 3509.47 27.94
b. Deferred Tax Assets 273.82 538.76 264.94 96.75
c. Long-term Loans & Adv 936.70 1872.92 936.22 99.94
d. Other Non-current assets - 126.50 126.5 0
Sub-Total 13770.73 18607.86 4837.13 35.12
2.Goodwill 1539.47 2683.68 1144.21 74.32
3.Non-Current Investment 4180.40 6875.63 2695.23 64.47
4.Current Assets
a. Current Investment 4023.67 5628.78 1605.11 39.89
b. Inventories 1798.91 2067.67 268.76 14.94
c. Trade Receivables 3675.53 3895.64 220.11 5.98
d. Cash and Cash equivalents 5014.53 5688.46 673.93 13.43
e. Short-term loans & Adv 1216.22 1313.13 96.91 7.97
f. Other Current assets 1340.65 1505.84 165.19 12.32
Sub-Total 17069.51 20099.52 3030.01 17.75
Total Assets 36560.11 48266.69 11706.58 32.02
Table 5.4.3
Interpretation: The current assets of have increased by 17.75% of change in the year 2021 over
2020, as seen in the comparative balance sheet above. On the other side, there has been a change of
43.48% in the current liabilities. This is due to a 17.75% growth in current assets. Second, there has
been a 13.43% increase in the cash and bank balance. This shows that the corporation has a sizable
amount of positive cash to meet its immediate obligations. Next, there has been an increase in long-
term debt.

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 COMPARATIVE BALANCE SHEET FOR THE YEAR ENDED 2022-23
Particulars 2021-22 2022-23 Absolute Percentage
change change
A. Equity & Labilities
1.Shareholders Fund
a. Share Capital 4500 4500 0 0
b. Reserves & Surplus 11660.02 16200.1 4540.08 38.94
Sub-Total 16160.02 20700.1 4540.08 28.09
3.Non-current labilities
a. Long-term Borrowings 7942.27 9617.61 1675.34 21.09
b. Other long term liabilities 1521.34 2209.46 688.12 45.23
c. Deferred tax liabilities - 186.30 186.30 0
d. Long-term Provision 4139.25 6275.87 2136.62 51.62
Sub-Total 13602.86 18289.24 4686.38 34.45
4.Current Liabilities
a. Short-term Borrowing 6303.76 7651.33 1347.57 21.38
b. Trade Payments 3740.51 5930.80 2190.29 58.55
c. other Current Liabilities 6914.33 8592.74 1678.41 24.27
d. Short-term Provision 1545.21 2644.60 1099.39 71.14
Sub-Total 18503.81 24819.47 6315.66 34.13
Total Equity & Liabilities 48266.69 63808.81 15541.92 32.20
B. Assets
1.Non-Current Assets
a. Fixed Assets 16069.68 21374.72 5305.04 33.01
b. Deferred Tax Assets 538.76 1611.88 1073.12 199.18
c. Long-term Loans & Adv 1872.92 2727.85 854.93 45.65
d. Other Non-current assets 126.50 189.49 62.99 49.79
Sub-Total 18607.86 25903.94 7296.08 39.21
2.Goodwill 2683.68 4176.74 1493.06 55.63
3.Non-Current Investment 6875.63 8038.33 1162.7 16.91
4.Current Assets
a. Current Investment 5628.78 7160.24 1531.46 27.21
b. Inventories 2067.67 3513.54 1445.87 69.93
c. Trade Receivables 3895.64 4153.12 257.48 6.61
d. Cash and Cash equivalents 5688.46 6276.97 588.51 10.35
e. Short-term loans & Adv 1313.13 2475.97 1162.84 88.55
f. Other Current assets 1505.84 2109.96 604.12 40.12
Sub-Total 20099.52 25689.8 5590.28 27.81
Total Assets 48266.69 63808.81 15542.12 32.20
Table 5.4.4
Interpretation: The company experienced growth in fixed assets as well as investments,
contributing to the overall increase in non-current assets. The company's total assets increased by
32.20%, primarily driven by the growth in non-current assets. The company has strengthened its
financial position, with a moderate increase in total assets and reserves and also in the total
liabilities of the company.

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5.5 COMMON SIZE ANALYSIS
COMMON SIZE INCOME STATEMENT FOR THE YEARS 2020-2023

PARTICULARS 2020-21 % 2021-22 % 2022-23 %

Continuing operations
Revenue from operations 25416 100 37526 100 37632 100
Other incomes 1324 5.21 1529 4.07 2747 7.3
Total income 24092 94.8 39055 104.07 40379 107.3
Expenses
Selling expenses 317 1.24 349 0.93 413 1.2
Administration expenses 442 1.74 534 1.42 752 1.99
Cost of material consumed 12142 47.7 17846 47.56 20385 54.17
Purchases of stock in trade 3641 14.3 5713 15.22 5013 13.32
Changes in inventories of
finished goods, stock in trade
and work in progress (1162) 4.57 (1563) (4.16) (1964) (5.23)
Employee benefit expenses 1723 6.77 3385 9.02 3014 8.01
Financial Cost 1245 4.89 1761 4.69 2453 6.52
Depreciation and amortization
expenses 483 1.9 753 2.01 1017 2.70
Other expenses 1373 5.4 4729 12.60 2367 6.29
Total expenses 20204 79.5 33507 89.29 33450 88.89
Profit and loss before
exceptional items, interest and
tax 3888 15.3 5548 14.78 6929 18.41
Less: Exceptional items - net loss (753) 2.96 (990) (2.64) (1197) (3.18)
Profits before interest and tax 3135 12.3 4558 12.15 5732 15.23
Interests (1267) 4.98 (1371) (3.65) (1723) (4.58)
Profit before tax tax 1868 7.35 3187 8.49 4009 10.65
expenses Current tax 100 0.39 110 0.29 130 0.35
Deferred tax 8 0.03 10 0.03 14 0.03
Total tax expenses 108 0.42 120 0.32 134 0.36
Profit from continuing
operation 1760 6.92 3067 8.17 3865 10.27
Discontinued operations
Profit /(loss) for discontinued
(70) 0.27 (87) (0.23) (98) (0.26)
operations
Gain on disposal of assets/
settlement of liabilities attributable
to the discontinued operations(net) 794 3.12 1061 2.83 1254 3.33
Tax expenses of discontinued
operations (37) 0.15 (44) (0.12) (67) (0.18)
Profit / loss after tax from
discontinued operations 687 2.70 930 2.48 1089 2.89
Profits for the year 2447 9.63 3997 10.65 4954 13.16
Table 5.5.1
In the above analysis, we can see that Walvoil has a profit margin of 13.16%. Total expenses have
increased as a percentage of sales over the past three years. This could be due to a number of
factors, such as increased marketing spending or higher administrative costs.
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 COMMON SIZE BALANCE SHEET FOR THE YEAR ENDED 2020-2023
Particulars 2020-21 Percentage 2021-22 Percentage 2022-23 Percentage
A. Equity & Labilities
1.Shareholders Fund
a. Share Capital 4500 9.32 4500 9.32 4500 9.32
b. Reserves & Surplus 8864.31 24.24 11660.02 24.16 16200.1 25.39
Sub-Total 13364.31 36.55 16160.02 33.48 20700.1 32.44
3.Non-current labilities
a. Long-term Borrowings 6731.41 18.41 7942.27 16.45 9617.61 15.07
b. Other long term liabilities 811.83 2.21 1521.34 3.15 2209.46 3.46
c. Deferred tax liabilities 100.00 0.27 - 0 186.30 0.29
d. Long-term Provision 2655.87 7.26 4139.25 8.58 6275.87 9.84
Sub-Total 10299.11 28.17 13602.86 28.18 18289.24 28.66
4.Current Liabilities
a. Short-term Borrowing 3475.73 9.51 6303.76 13.06 7651.33 11.99
b. Trade Payments 2786.33 7.62 3740.51 7.74 5930.80 9.29
c. other Current Liabilities 5695.76 15.58 6914.33 14.32 8592.74 13.47
d. Short-term Provision 938.87 2.56 1545.21 3.2 2644.60 4.14
Sub-Total 12896.69 35.28 18503.81 38.34 24819.47 38.89
Total Equity & Liabilities 36560.11 100 48266.69 100 63808.81 100
B. Assets
1.Non-Current Assets
a. Fixed Assets 12560.21 34.35 16069.68 33.29 21374.72 33.49
b. Deferred Tax Assets 273.82 0.75 538.76 1.11 1611.88 2.53
c. Long-term Loans & Adv 936.70 2.56 1872.92 3.88 2727.85 4.28
d. Other Non-current assets - 0 126.50 0.26 189.49 0.29
Sub-Total 13770.73 37.67 18607.86 38.55 25903.94 40.6
2.Goodwill 1539.47 4.21 2683.68 5.56 4176.74 6.55
3.Non-Current Investment 4180.40 11.43 6875.63 14.25 8038.33 12.59
4.Current Assets
a. Current Investment 4023.67 11.00 5628.78 11.66 7160.24 11.22
b. Inventories 1798.91 4.92 2067.67 4.28 3513.54 5.51
c. Trade Receivables 3675.53 10.05 3895.64 8.07 4153.12 6.51
d. Cash and Cash equivalents 5014.53 13.72 5688.46 11.79 6276.97 9.84
e. Short-term loans & Adv 1216.22 3.33 1313.13 2.72 2475.97 3.88
f. Other Current assets 1340.65 3.67 1505.84 3.12 2109.96 3.31
Sub-Total 17069.51 46.69 20099.52 41.64 25689.8 40.26
Total Assets 36560.11 100 48266.69 100 63808.81 100
Table 5.5.2
We can infer from the above figure that cash accounts for 9.84% of total assets while inventory
makes up 5.51% of total assets. And from the liabilities section that trade payable account for 9.29%
of liabilities and stockholder equity, long-term debt accounts for 15.07%, shareholder funds account
for 9.32% of liabilities, and reserves account for 25.39% of liabilities and stockholder equity.

Page | 42
 CHAPTER 6

LEARNING EXPERIENCE

I am very happy to the practical exposure at Walvoil Fluid Power India Pvt Ltd, before going to
share my practical feeling regarding the project work, I would heartly thank The oxford college of
engineering, Bangalore and VTU for giving me opportunity to learn a knowledge in practical
environment. I would also like to thank to my External guide Mr. Pradeep Kumar M and Internal
guide Dr. Harish N who has guided me in this internship project.

I had under gone 4 weeks of internship at Walvoil Fluid Power India Pvt Ltd from 19/10/2023 to
21/11/2023 and in this period I learnt and got introduced to working conditions of the company.
From this I came to know various working aspects, manufacturing process and machineries used for
it and labor utilization for the work.

During my internship I learnt lot of things about organization Structure, the organization helped in
knowing the interrelation between the various department and their role in helping the organisation
to attain its goals.

From this internship I came to know that how business is carried in a systematic way and this
internship has made me to understand about the working environment of the company, the process
of the supply chain starting from procurement till the dispatch of the goods. It has given me great
opportunity to learn and explore new things.

The internship at Walvoil Fluid Power India Pvt Ltd has helped me to get the deep insight of all the
functional department and their unique role in fulling the organizational goals. It also helped me in
experiencing the practicality of the theoretical knowledge that is a part of our curriculum.

Overall, my internship at Walvoil fluid power India Pvt Ltd has been an enriching and rewarding
experience. I am grateful for the opportunity to have worked alongside experienced professionals
and gained hands-on experience in various aspects of the engineering and business world. The
knowledge and skills acquired during this internship will undoubtedly be valuable assets in my
future career endeavors.

Page | 43
 BIBLIOGRAPHY

https://economictimes.indiatimes.com

https://www.walvoil.com

https://www.indiamart.com/walvoilfluidpower/aboutus.html

https://www.tofler.in/

https://www.researchgate.net/

Understanding Porter’s Five Forces Analysis - Books by Nerdynaut

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