Pages 5 (1049 words)
In year 1992 Indo Textile Overseas Ltd. was restricted with bleaching , dyeing, printing and mercerizing of natural as theyll as unwoven material . The motto of the company is to achieve customer satisfaction by providing quality products that is “ customer oriented “ . The proof of the hallmark that the company has received is the quality of the product which they provide at the best competitive price .
The highlights of the company are : cotton, viscose, silk, polyester, georgette, moss crepe, rayon which also include manmade fibers .
The continuous delivery of goods or products of the customers not only increase the demand in domestic market but also increase in international market .
The end objective is to give the shortest turn-around time in production and supply. The main focus to have a better work place for employees, 100% customer satisfaction and a good relation with the stakeholders of the company. In this organisation moreover they have transparency and trust, different teams for different tasks with theyll qualified staff, due to simple and speedy processes they able to meet the customer needs and give response to it and can make quick decision.
They include cotton, blended, polyester, rayon, viscose, silk, nylon and other fancy fabrics in different theyaves like plain texture, twill, dobbs, stain georgette, chiffon, crape, leno and jacquard etc. with the superior quality at competitive price as per the international customers needs like GaP, old navy, ralph polo, calvin klein, american eagle, a&F, Free people, anthropology, Juicy Couture, DKNY, TEXFa LCREW, Nordstorm, Jones, Lucky brand, ann Taylor, CWC, PVH, NEXT, French Connection, M&S and Debenhams.
More than this they also do value added fabrics like Schiffly embroidery, Laces, Flocking, Foiling and Sequin’s etc.
They also provide wide range of specialised fabric finishes such as flame retardant, water repellent, waterproof, anti-static and peach finishing by this they achieve different fabric properties desired by the consumer.
at haryana texprints ltd., each fabric has one inherent quality and comfort. They promise to deliver and manufacture the best materials so that they can place theself in United States of america in the future and are doing efforts for that. They deal with wide variety or range of fabrics which is able to suit every occasion and every budget.
It’s necessary to have quality control at all levels, in order to achieve the highest quality control of the finished products at Haryana Texprints Ltd. . Quality of the end-product is ensured when there is check points at all stages of production, from fabric to finishing textile support systems . The testing experience are fully equipped with modern testing equipment.
Swot analysis of haryana texprints overseas
- Growth rate of Domestic Textile Industry is 6-8% per annum so fill the company will try to expand then it will be the biggest contributor in this field .
- Large potential in domestic and international market.
- Product development and Diversification to fulfill demand all over the world.
- Elimination of Quota Restriction leads to greater Market Development.
- Market is gradually shifting towards Branded Ready-made Garment.
- Emerging Retail Industry and Malls provide huge opportunities for the apparel, Handicraft and other segments of the industry.
- Competition from other developing countries, especially China.
- Elimination of Quota system will le to fluctuations in Export Demand.
- Threat for Traditional Market for Potheyr loom and Hand loom Products and forcing them for product diversification.
- International labthe and Environmental Laws.
- To balance the demand and supply. To make balance bettheyen price and quality.
Findings & suggestions
- Company should be friendly with interns & provide them with work, which are of their fields and their interest .
- Company should work on their labor expenses as it is much more than required.
- Labor productivity should motivated & enhanced, as labor tend to leave before assigned time.
- Management should work on effiency & effectiveness of the workers.
- Senior accountants, theyre not friendly & theyre rude to the younger ones.
- Decision making management should be more quick so that it does not spoils or disturb the work of other departments .
- Building material used by company for manufacturing cloths is of best quality.
- Labor could be managed properly, with care & health problems should be taken into considerations.
- Safety measures for laborers should be prime factor for the company.
- Helmets, gloves & knee pads, Clean water & sanitation can be improved.
- Waste dumping of the company is treated & recycle for maximum benefits.
- Managing accounts & finance would require more of accountants in future due to increase in operations.
- advertising & Marketing should be used for promoting the company to reach to public.
- Labor should be provided with different types of perks .
- Servicing of machine should be done on time to time basis .
Conclusions and results
- Company’s operating ratio is 0.92 in 2016-2017 so company has good operating ratio, which is near 1.0 which is acceptable .
- Quick ratio of the company is 0.84 in 2016-17, basically total of current asset has major contribution of inventories of about 1,80,38,982, which is the reason for drastic change in quick ratio.
- Company currently doesn’t have any long term borrowing or debts which is very good but short term borrowing is still above 2,71,33,732
- Short term liabilities has been reduced from 5,35,875 to 2,59,918, which is great step taken by the company.
- Tangible assets has increases by 2 laces but still better management for tangible assets should be taken.
- Inventories cost has reduced this year by 54 laces which was must for better working capital.
- Trade receivables is still 1,24,00,761 which is considered secured but still should be reduced & cycle of receiving should be decreased.
- Trade payables theyre paid during the year around 40 laces.
- Revenue from Operations have decreased from last year by 40,000 which is now 4,42,87,412.
- Cost of material Consumed has significantly come down by 33 lacs from last year.
- Work in progress have been decreased resulting change in inventories by around 21 lacs.
- Finance cost has been reduced by 20% i.e. 6,00,000 have been reduced from 2015-16 to 2016-17
- Depreciation have come down around 2,50,000 majorly because of selling of car.
- In 2013-14 there was profit by selling of property of around 9 lacs which was shown in extraordinary items, tax on which was paid this year.
- 2015-16 profit after all expenses comes out to be 1,72,822 which is affected by accelerated depreciations of around 17 lacs.
- Directors’s loan was reduced by 14 lacs which is about 18% of total of previous year..