A PROJECT REPORT

ON
ORGANIZATION STRUCTURE OF MINDA INDUSTRIES LTD.

Submitted By: MELVYN.M. CHEROBIN

COURSE – MBA PROGRAMME
 CONTENTS

1. Organization’s history
2. Mission, objectives and strategies of the organization
3. Profile of the product
4. Organization chart - Design & Structure
5. Policies and procedures followed
6. Functions of various departments and their managers
7. SWOT analysis of the organization
8. System of accounting followed
9. Product promotional measures
10. Career planning and promotion policy of employees
11. Training measures
12. System followed for purchase of materials
13. HRD measures (including welfare measures)
14. Manpower planning
15. Performance appraisal system
16. Financial highlights during the last three years
17. Future plans for growth of the organization
18. Advantages and drawbacks of the organization structure
19. Recommendations to overcome the drawbacks.
20. Modifications, if any, to the organization structure.
 MINDA INDUSTRIES LTD.

HISTORY
Minda Industries Limited was incorporated on 16 September 1992 as the flagship company of the Minda
Group. The company is engaged in the business of manufacturing of auto electrical parts and components
including auto electrical parts such as switches lightings batteries and blow moulded products and ancillary
services. The company designs develop and manufactures switches for 2/3 wheelers and off-road vehicles. In
addition, the company manufactures batteries for 2/3/4 wheelers and off-road vehicles. The company enjoys
more than 70% market share in the 2/3-wheeler segment in India and is amongst the top few globally. It has
established 8 state of the art facilities spread across the length & breadth of India and one in the ASEAN region
and employs more than 2800 people. Its products range include Switch 2W/HBA sensors actuators controllers
Switch 4W/HVAC mirrors lighting HLL Motors horns compressed natural gas (CNG)/liquid petroleum gas
(LPG) kits batteries blow molding components wheel covers seat belts seating and systems and cigar lighter. Its
two-wheeler's switches include handle bar system assembly electronic systems brake switch gearshift switch
and modular switch. Its off-road switches include rotary switches starter switches plunger switches and rocker
switches. Its automotive lighting products include tail lamp side indicator lamps headlamps front fog lamp rear
fog lamps warning triangles work lamp and interior lamp. MIL has automotive battery brand Vroom. In April
2011 the Company sold Minda Realty & Infrastructure Ltd. During FY 2014-15 the Company's Lighting
Division at Manesar Haryana expanded its manufacturing capacity for production of Tail Lamp for K-10 Model
for one of its major clients namely Maruti Suzuki India Limited. The said expansion was completed on schedule
and commercial production commenced from the month of September 2014.During the year 2014-15 a joint
venture agreement (JVA) of the company's Battery Division was signed with Panasonic Corporation Japan. As
per the terms of JVA the running business of Battery division will be hived off on or before longstop date of 30
April 2015. In this regard the Board has reviewed and revised the hiving off date from 30 April 2015 to 1 July
2015. In the joint venture the company will be having equity of 40% and the remaining 60% will be held by
Panasonic Group. The necessary approval for hiving off Battery Division was obtained from the shareholders
through Postal Ballot in the month of December 2014. On 29 March 2016 the Company acquired 30%
shareholding in Kosei Minda a manufacturer of Alloy Wheels and other accessories / parts for automobile
industry. On 30 March 2016 the Company acquired 51% shareholdings in Minda TG Rubber a manufacturer of
brake hose fuel hose and their components accessories and fittings. In June 2016 Minda Industries Limited
acquired global lighting business of Spain Based Rinder group (including its facilities in India Spain and
Columbia) for Euro ~20 Million. During the year 3500000 3% Cumulative Redeemable Preference shares of
Rs10 each were redeemed on 20 February 2017 as per the approved terms. During the year equity share of the
company having face value of Rs10 each fully paid-up was sub-divided into 5 Equity shares having face value
of Rs2 each fully paid up with effect from 14 September 2016 being the Record Date. On 3 April 2017 the
Company allotted 7092125 equity shares of Rs2 each to eligible qualified institutional buyers at issue price of
Rs423 per equity share aggregating to Rs999.97 Lacs under QIP.During the year under review the Company has
entered into Joint Venture Agreement on April 27 2017 with Tung Thih Electronic Co. Ltd. Taiwan (TTE) to
design develop and manufacture of Driving Assistance Products and Systems (DAPS) in the shareholding ratio
of 50:50.As on 31 March 2018 the Company has 15 direct subsidiaries 7 step-down subsidiaries and 4 associate
including 2 partnership Arms. In addition to this there are 6 joint venture Companies as on 31 March 2018.
During the FY2018 the Switch division of the company has received the best delivery management award from
HMSI.During the FY2019the Company issued Bonus shares to the shareholders of the Company in the ratio of
2:1 i.e. 2 (two) Bonus Equity Shares of Rs 2 each fully paid up for every 1(one) existing equity share of Rs 2
each fully paid up. The Company allotted 174342310 bonus shares. The Company has 16 direct subsidiaries 8
step down subsidiaries 8 joint ventures and 2 associates as on 31 March 2019. During the year 2018-19 2
subsidiaries 1 step down subsidiary and 2 Joint Ventures were added. During the FY2019the company received
The `Most Promising Company of this Year' award by CNBC TV18 at the Indian Business Leader Awards. The
company also bagged The National Intellectual Property Award for the year 2019 in the category of Top Indian
Company Organization for Designs. The Company has 16 direct subsidiaries 12 step down subsidiaries 8 joint
ventures and 2 associates as on 31 March 2020. During the year under review 4 step down subsidiary were
added. The WHO declared COVID-19 outbreak as a pandemic which continues to spread across the country.
On March 23 2020 the Government of India also declared this pandemic a health emergency and ordered
temporary closure of all non-essential business-imposed restrictions on movement of goods/ materials travel etc.
Accordingly, production was suspended at most of the locations. Pursuant to the Scheme of Amalgamation
(`Scheme') under the provisions of Section 230 to 232 of the Companies Act 2013 for amalgamation of wholly
owned subsidiaries i.e. MJ Casting Limited Minda Distribution and Services Limited Minda Auto Components
Limited and Minda Rinder Private Limited (together referred to as transferor companies) with Minda Industries
Limited (Transferee Company or the Parent Company) as approved by the Hon'ble National Company Law
Tribunal vide its order dated 01 June 2020 with the appointed date of 1 April 2019 all the assets liabilities
reserves and surplus of the transferor companies have been transferred to and vested in the Company with effect
from this date at their carrying values. During the quarter ended 30 June 2020the company made following
investments: I. Additional 10200000 equity shares of Minda Katolec Electronics Services Private Limited a
subsidiary for total consideration of Rs. 10.20 Crore. ii. Incorporated a Company in South Korea namely Minda
Korea Co. Ltd. through its subsidiary which invested an amount of Rs. 0.63 Crore. On 11 August 2020 the
Board of Directors of the Company approved issue of 9711739 fully paid equity shares of face value of Rs. 2
each (the Rights Equity Shares) at a price of Rs. 250 per Rights Equity Share (including premium of Rs. 248 per
Rights Equity Share) in the ratio of 1 Rights Equity Shares for every 27 existing fully-paid shares held by the
eligible equity shareholders as on 17 August 2020 the Record date. During the quarter ended 30 September
2020the company made investment of 13543031 nos. of additional equity shares having face value of Rs. 10/-
each of Minda Onkyo India Private Limited (Joint Venture Company) for a total consideration of Rs. 13.54
Crore representing 50% shareholding. Also made investment of 33460000 nos. of additional equity shares
having face value of Rs. 10/- each of Toyoda Gosei Minda India Private Limited (Joint Venture Company) for a
total consideration of Rs. 33.46 Crore representing 47.80% shareholding. The Board of directors of the
Company in its meeting held on 10 November 2020 accorded its consent for the following: i. Sale of 555753
equity shares (1.10%) in Minda TG Rubber India Private Limited (Subsidiary Company) held by the Company
to Toyoda Gosei Co. Limited. ii. Scheme of merger between Minda TG Rubber India Private Limited
(Transferor Company) with Toyoda Gosei Minda India Private Limited (Transferee Company) subject to
necessary approval(s) of shareholders Creditors and other approvals and sanctions by the National Company
Law Tribunal (NCLT). Appropriate accounting treatment of the Scheme will be done post receipt of NCLT
approval.iii. Investment in Tokai Rika Minda India Private Limited by acquisition of 12.86% equity shares from
Minda Finance Limited. On 15 September 2020 the Rights Issue Committee of the Board of Directors approved
the allotment of Rights Equity Shares in relation to the said Rights Issue and consequently Rights issue shares
were issued during the quarter ended 30 September 2020.During the quarter ended 31 December 2020 the
Company has acquired 22500000 equity shares having face value of Rs. 10/- each in Tokai Rika Minda Private
Limited (TRMIN) for a total consideration of Rs. 22.59 Crores representing 12.86% shareholding. It is
accounted as an Associate Company considering Company's significant influence over TRMIN.
 Founder Late Shri Shadi Lal Minda

Year Founded 1958

Origin New Delhi, India

No. of Employees 16,000+

Company Type Public

Market Cap Rs 6,158.69 Crore (2022)

Annual Revenue Rs 738.3 Crore (2021)

Net Income/ Profit Rs 69.85 Crore (2021)

AWARDS

2012 • Minda Industries Limited - Switch Division received "Best Development Award for Lever
Combination Switch Development" from JCB India.

• Minda Industries Limited - Switch Division received "Quality Management Award" from
Honda.

• Minda Industries Limited - Switch Division received "TPM Excellence Award" from JIPM,
Japan.

• Minda Kyoraku Ltd. received "Silver award for Best supplier FY 2011" from Toyota.

2013 • MIL – Acoustic Division received “Gold Quality Award” from Bajaj Auto Ltd.

• MIL – Lighting division received a “Special Citation of Distinction” for a valued

partnership at Tata Motors Annual Supplier’s Conference.

• Clarton Horns received Purchasing Diamond Award in the 16th AERCE CONGRESS
which took place in Madrid in June.

• MIL – Lighting Division received “Silver Trophy for Overall Performance” from Maruti
Suzuki India Ltd.

• Mindarika Private Limited, Manesar received “Silver Shield for Local R&D Capability
Development” from Maruti Suzuki India Ltd.

• TG MINDA received a certificate for ‘Manufacturing Excellence’ from Maruti Suzuki

India Ltd.
 • MIL- Switch Division received ‘Quality Achievement Award” from Polaris, USA

• Minda Industries Limited - Switch Division received "Gold Award for Quality” from India
Yamaha Motors Pvt. Ltd.

• Roki Minda Co. Pvt. Ltd. Received “Gold Award in category of Best Development for 1GC
Air Cleaner Assembly from Indian Yamaha Motors Pvt. Ltd.

2014 • MIL - Switch Div. received INNOVATION AWARD from JCB UK for the ongoing work
on Steer Mode Switch and Media Panel for the year 2013-14.

• MIL - Switch Div. received Best Supplier Award for Consistent Performance in Quality &
Reliability for year 2013-14

• Fujitsu Ten Minda has been certified with appreciation for achieving delivery targets for
2013-14 from TKML

• MRPL, Manesar received Delivery & Quality Rating Shield from MSIL.

• MRPL, Manesar received Vendor Up gradation Certificate from MSIL.

• MIL – Lamp received Tier – II Up gradation Shield from MSIL.

• TG Minda received Certificate for special support for Technology Up gradation from MSIL
for the year 2013-14

2015 • MRPL was felicitated with Gold Award in Excellence in Technology in Large Scale
Category.

• MRPL was felicitated with 4th FICCI Quality Systems Excellence Award for
Manufacturing.

• MIL received a valued Recognition of Long Association from Tata Motors.

2016 • MIL – Switch Division, received ‘Excellence in Quality Award’ from Yamaha Motor India
Pvt. Ltd.

• MIL – Acoustic, recognized for quality and TPM from Bajaj Auto Ltd.

2017 • MIL - Switch Division has won Development Award from HMSI.

• MIL - Lighting & Acoustic Division has Quality Award from Escorts Ltd.

• MIL - Switch Division was awarded the CII Industrial Innovative Awards as among the “25
most innovative Company”.
2018 • Minda Kosei Aluminum Wheel Pvt. Ltd. has won the Special Support Award from MSIL.

• Minda D-ten Pvt. Ltd. has won the Overall Performance and Comprehensive Excellence
Award by MSIL.

• Mindarika Pvt Ltd. has won the Supplier Business Capability Building Award by Mahindra.

• Minda TG Rubber has received the Best Supplier – Quality Award by Toyota.

• MIL - Switch Division has won Delivery Management Award by HMSI.

• MIL - Acoustic Division has won the Quality & TPM Award by Bajaj Auto Ltd.

• MIL - Switch Division has won Excellence in Quality Award by Yamaha.

2019 • The Confederation of Indian Industry (CII) awarded Minda Industries Limited with
“National Intellectual Property (IP) Award in the category of Top Indian Company for
Designs” Award.

• CNBC TV18 awarded Minda Industries Ltd. as the “Most Promising Company of the Year”
at Indian Business Leaders Awards.

• Ernst & Young (EY) awarded Mr. Nirmal K Minda with “EY Entrepreneur of the Year”
award in the Manufacturing Category for FY 2018-19.

• UNO MINDA Group has awarded Comprehensive Excellence Award by MSIL.

• MIL - Lighting Division has won Quality Excellence Award from GM & Toyota.

• MIL - Lighting Division has won Quality Award from TKML.

• MIL - Lighting Division has won Exceptional Support Quality Award from Tata Motors
Ltd.

• MIL - Lighting Division has won Supplier Business Capability Award from HMSI.

• M J Casting Ltd. has won Delivery Management Award from HMSI.

• Roki Minda Co. Pvt. Ltd. has won “Best QCDDM Performance” Award by HMSI.

• Minda Kyoraku Ltd. and Minda D-Ten India Pvt. Ltd. has won the Overall Performance
Award by MSIL.

• Minda TG Rubber Pvt. Ltd. and Roki Minda Co. Pvt. Ltd. has won Quality Excellence
Award by MSIL.

• Minda TG Rubber Pvt. Ltd. has won “VA-VE” Award by MSIL.

 2020 • Minda Industries Limited has been declared as the WINNER of "Golden Peacock Award
for Excellence in Corporate Governance" for the year 2020 by Institute of Directors.
Golden Peacock Awards is instituted by Institute of Directors and is now the most
prestigious award for Corporate Excellence worldwide.

• Uno Minda Group has been awarded "The 5th Institute of Company Secretaries of India
(ICSI) CSR Excellence Award" for extraordinary contribution towards CSR, under the
category of The Best Corporate in The Emerging Category
The Institute of Company Secretaries of India (ICSI) National Awards are one of the most
prestigious awards, recognizing & promoting the culture of good governance and the social
responsibility.

THE GROUP VISION AND VALUES

The Group Vision

To be a Sustainable Global organization that enhances value for all its Stakeholders, attains Technology
Leadership and cares for its people like a Family.

The Vision Decoded

Sustainable:
A business model that is dynamic, responsive, self-evolving and resilient over time which meets the needs of
the present without compromising the ability to meet the needs of future. It successfully manages technological,
financial, social and environmental risks, obligations and opportunities from time to time.
Global:
Having manufacturing footprints in all major geographies Globally i.e. Asia, Africa Europe and North America
Stakeholders:

• Customers
• Employees
• Suppliers
• Technical collaborators
• Community
• Shareholders

Technology Leadership:
Uno Minda would attain leadership in technology of its products and processes through JV partners, Own R &
D, Contract research and M & A
Employee Care:
UNO MINDA would
 • Be a like a family, that employees could relate to and feel that they are a part of it - company and
employees would care for each other at all times.
• Grow its employees so that they are able to realise and unlock their full potential.

Values

• Customer is supreme.
• Live quality.
• Encourage creativity and innovation to drive people process & products.
• Respect for individual.
• Respect for work-place ethics.

STRATEGIES OF THE ORGANIZATION

• Achieve leadership across key segments and expand existing relationships with OEM
customers into new product areas

We are increasing our product portfolio aimed toward electric powered-cars and intend to emerge as the main
auto-factor participant for diverse additives in electric powered-cars inclusive of smart-plugs, telematics, frame
manipulate modules, DC-DC convertor, battery control gadget and onboard chargers. A few of the
aforementioned merchandise are already in manufacturing, in which we are providing such additives to our
current two-wheeler OEM customers. We are with inside the method of commercializing our different
merchandise and count on that our sales producing product basket catering to electric powered cars will amplify
considerably over the next 12 months. We are in discussions with different main Indian electric powered-
automobile producers for delivery of our merchandise and will constantly compare increasing such services to
our places throughout the globe. Furthermore, we will hold to attention on growing our current product verticals
and enhance the marketplace proportion we revel in our product segments. Our centered tasks toward this
encompass persevered efforts to invest in generation and identifying certified specialists with revel in our
industry. Further, we can hold to paintings with our OEM customers, with whom we consider we've got long-
status relationships and understanding of necessities and preferences, with a purpose to expand and deliver extra
sophisticated, higher-margin merchandise. Skilled R&D groups allow us to deliver new designs and
improvements that we then translate into possibilities via way of means of marketing those to our customers.
We consider that our extensive product portfolio and management in key product segments will assist us in
increasing our proportion of enterprise among our OEM customers.

• Develop innovative products and designs through in-house R&D, joint ventures,
technical collaborations and inorganic acquisitions.
We are focused on retaining and strengthening our technological management via the ongoing improvement of
progressive merchandise, which we consider will permit us to enlarge our varied merchandise portfolio. We
continue to focus on developing and introducing new value-added merchandise into our markets. Through
steady product innovation and studies and improvement, we intend to provide a numerous variety of
merchandise which are new to the marketplace and are progressive in nature. We intend to maintain to innovate
on merchandise and designs and consequently maintain to attempt to gain/ maintain marketplace management
and additionally be the favored choice of the OEMs. We additionally maintain to discover possibilities to
collaborate with worldwide gamers to reinforce the site of our merchandise, beautify our production
capabilities, improve our technological approaches and provide new and varied variety of merchandise to our
customers. Our acquisitions of the worldwide enterprise of Spain primarily based totally Rinder organization
and Clarton Horn, Germany primarily based totally Delvis Group and ISYS RTS GmbH in addition to the
purchase of Harita Seating System Limited (a producer of seating machine in India), illustrate our capacity to
perceive, associate or accumulate and assimilate complementary corporations throughout merchandise and
geographies so as to consolidate our function withinside the car factor enterprise and we maintain to discover
applicable possibilities in our awareness segments. Continue to enhance margins and profitability We goal to
maintain to enhance profitability via way of means of enhancing our product mix, production approaches,
elevating margins that we make on every product we manufacture and thereby gaining fee efficiencies. We
intend to maintain to awareness on sourcing substances maintaining in thoughts the economies of scale and
thereby making sure that we get the nice to be had rate from the nice supplier of uncooked substances. We
additionally continuously goal to perceive possibilities to enforce manufacturing enhancements and commit
studies and improvement sources to beautify manufacturing approaches. We constantly try to enhance scale in
our smaller and newer product segments which must assist enhance the profitability of our Company. We have
undertaken a realignment of enterprise domain names primarily based totally on comparable technology below
one area to pressure synergies among associated corporations. As part of this initiative, we've got targeted on
strengthening our board, realignment of our enterprise verticals to pressure synergy amongst comparable
product and technology. We have recalibrated positive capabilities like procurement, R&D and advertising to
herald elevated manipulate and efficiency.

• Expand our global reach through improved focus on exports.

We intend to enhance our percentage of sales from foreign places markets through specializing in exports of
merchandise and solutions throughout our key verticals. We agree with that the numerous authorities’ projects
consisting of PLI, our scale of operations in India, our existing client members of the family and changing geo-
political state of affairs enable us to provide competitive solutions on a global scale. For the Fiscals 2021, 2020
and 2019, our sales from outside India as a percentage of our revenue from operations turned into 18.89%,
17.18% and 17.31% respectively. Recently, we've got set-up an advertising workplace throughout Thailand and
bolstered our advertising workplaces throughout Japan and Germany and could preserve to cognizance on
increasing our presence throughout key automobile markets.
PRODUCT PROFILE
1. SWITCH DIVISION
Founded in 1960, Minda Industries Limited Switch Division is the world's largest manufacturer of two-wheeler
switches by volume and is nominated as a global supplier to Honda, Japan. Backed by strong R&D capabilities,
a new proprietary line of illuminated rocker switches, keypads and column switches is launched with a
particular focus on export. A fully integrated setup for design, development, simulation, prototyping, state-of-
the-art certified validation, reliability labs, and Pokayoke-enabled manufacturing processes ensure the Global
Standard for quality and reliability. With quality certifications such as ISO 14001, BS OHSAS 18001:2007,
ISO/TS 16949:2009, ISO/IEC 17025, Minda Industries Limited's Switch Division serves end markets in India,
USA, Europe, Japan, ASEAN and Brazil.

2.AFTER MARKET DIVISION

UNO MINDA Group is one of the main car aftermarket enterprises in India. Aftermarket
department became in advance operated beneath neath separate enterprise Minda Distribution
Services Ltd which now been merged with Minda Industries Ltd. The enterprise’s imaginative
and prescient is to Create quality in magnificence international distribution company for the
aftermarket of UNO MINDA merchandise at the same time as including cost to all stakeholders.
At gift aftermarket department, distributes 12 essential product classes with extensive
distribution community of over 800 Business Partners, 12000+ Retailers & 6000+ Mechanics.
The essential product classes allotted with the aid of using aftermarket department in Indian &
Global aftermarket are Switch, Horn, Automotive Lighting, Automotive Bulbs, Blinker,
Automotive Sensor, Relay & Flasher, Rear View Mirror, Lever & Yoke, CDI/Ignitor/Regulator
Rectifier, Automotive Batteries, Alloy wheels, Seatings and Accessories. UNO MINDA product
variety incorporates of greater than 2200 parts & additives for 2 & 3Wheelers, Passenger Cars,
Commercial motors in addition to off-street applications. Material is sent to commercial
enterprise companions thru 25, C & Fs in essential states of country.
3. ACOUSTIC DIVISION
Established in 1993, Minda Industries Limited - Acoustic Division is a first-rate manufacturer of vehicle horns
in India. With almost 50% marketshare, the business enterprise is the most favored supplier of horns to Indian
OEMs. The branch became installation a good way to leverage competencies and era of Minda Industries Ltd. It
is aiming aggressively at the export market, with plans of exports contributing up to 30% of its turnover with
the useful resource of the usage of 2016-17. The branch obtained Clarton Horn S.A.U., Spain from PMAn
Domestic AG in 2013. The buyout of Clarton Horn, which manufactures trumpet, disc and virtual horns and
factors to major OEMs in Europe which encompass BMW, Volkswagen, Mercedes-Benz, PSA-Peugeot and
Renault, catapults the UNO MINDA Group to the No 2 function among horn manufacturers worldwide, after
FIAMM S.p.A of Italy. It moreover strengthens the Group’s function withinside the 4-wheeler segment. This
organization has manufacturing gadgets in LA Carolina, Maroc and Mexico with a longtime functionality of 23
million horns. This acquisition will help draw out a worldwide approach towards offering a more whole style of
products to customers with the Spain and Manesar plant being complementary in nature. The acoustics branch
normally creates new capacities and scales up operations to satisfy the market needs. With flowers in Manesar
and Pantnagar and 800 plus employees and 36 million set up functionality , it's far a supplier to all OEMs in 2
Wheelers, 4 Wheelers, Off-road and Commercial Vehicles segment like Bajaj Auto Ltd., Honda Motorcycle and
Scooter India, Royal Enfield Motorcycles, India Yamaha Motor, Suzuki Motorcycle India, TVS Motor
Company, Maruti Suzuki India, Renault India, Tata Motors, General Motors, Mahindra & Mahindra, Ashok
Leyland, Ford India, Hyundai Motors, Fiat India Automobiles, Swaraj, Escorts Group, Sonalika Group etc.
Exports to Mazda, BMW, Renault, Ford, Piaggio, Torica, GM - Global, Hino Motors, Piaggio and Kawasaki
make up 29% of its earnings revenue.

4. AUTO GAS DIVISION

MIL - Autogas Division is a main producer of Alternate Fuel Systems, centered in Manesar, Haryana. In 2009,
a joint project enterprise Minda Emer Technologies Ltd. changed into shaped to leverage the generation from
one of the main producers of Alternate Fuel Systems Emer Spa. of Japan. Since 2001, the enterprise has been
manufacturing and developing Alternate Fuel Systems - CNG and LPG kits for OEMs and Aftermarket in India.
It is the most effective Tier 1 enterprise to localize AFS additives for Indian Market. It has treated fundamental
Commercial Vehicle tasks with Tata Motors & Ashok Leyland for CNG Systems. These had been included in
Buses for Public Transport Systems in Delhi & Mumbai. The enterprise provided 85,000 kits of LPG /CNG
structures to Bajaj Auto due to the fact that August '05 and included 125,000 kits at Maruti Suzuki for Wagon
R. The enterprise signed a Joint Venture with Emer, Italy on twenty fourth Sept, 2009. Today, the enterprise has
a imaginative and prescient to be a favored provider of AFS parts/ structures to the Indian OEMs and
Aftermarkets. It envisions turning into INR a thousand million enterprise via way of means of 2020-2021. This
ISO/TS 16949:2002 licensed enterprise has released its CNG package in Delhi and Gujarat aftermarkets with
plans to cowl extra states throughout India withinside the coming months. This is the most effective Company
in India with nearby production centers to provide merchandise at aggressive expenses and a provider to
fundamental OEM clients in India along with Maruti Suzuki, TATA, TOYOTA, BAJAJ, TVS and Honda
Power Products.

5. ADVANCED ELECTRONIC DIVISION

Founded in 2005, Minda Industries Limited – Sensor, Actuator & Controller Division is a main Auto Electronic
Components producer. Developing avant-garde electronics merchandise for 2, three, 4-wheeler and off-street
vehicles, the department is a main electronic additives producer via way of means of 2015, fabricating reliable,
cost-powerful and revolutionary merchandise benchmarked globally at par with contemporaries. The Division
operates from Pune, presenting to maximum OEM clients like Honda Cars, Maruti Suzuki, Mahindra, Tata
Motors, Bajaj Auto, KTM, TVS-BMW, Hero MotoCorp, Royal Enfield, Ashok Leyland, Piaggio, JCB etc. The
department produces the widest variety of four-wheeler and a couple of wheeler Electronics additives and meets
clients' excessive quality & overall performance standards. The department has evolved Contact and Non-touch
kind Speed Sensors for 2 and 4-wheeler programs and quite a number revolutionary product traces like Head
Lamp Levelling Motor, EAPM (Electronic Accelerator Pedal Module) and different role and magnetic sensors
benchmarked at par with world's pleasant car factor brands.

6. LIGHTING DIVISION
Founded in 1980, Minda Industries Limited - Lighting Division is one of the main automobile lamps producers
in India, growing new era low-cost merchandise for, three, 4-wheeler and off-street vehicles, developing at a
constant fee of 25%CAGR (Compounded annual Growth Rate) consistent with annum. The Lighting
department is one of the main automobile lamp producers in India, with layout facilities and customer service
places of work in Taiwan, Japan and a strategic sourcing unit in China. In addition, the Design Centre is
appearing as an interface among Taiwan providers and software managers, even as additionally sourcing new
providers for layout, simulation, tooling, fixtures, Special Purpose Machines, uncooked cloth and different
parts. In 2016, the Division obtained Spain primarily based totally Rinder Group for a company fee of Euro
20Mn.The acquisition consists of 100% fairness conserving in Rinder India Pvt. Ltd. and Light Systems and
Technical Center, Spain together with 50% fairness conserving in Rinder Riducu, Colombia. This acquisition
establishes Minda Industries Limited as a era chief in lights answers and could in addition increase the R&D
Capabilities of the corporation.

7. CASTING DIVISION
Founded in 2011, MJ Casting Ltd. became a main producer of Die Casting Components in India. MJ Casting
Ltd became merged with Minda Industries Ltd w.e.f from 1st April 2019 as casting division Developing
pinnacle of the road merchandise for 2 wheelers, the agency targets to be a desired and benchmark dealer for
OEMs in all classes of Die Casting merchandise. Going ahead it targets to construct technical self-reliance in
pressure Die Casting, Gravity Die Casting, Low Pressure Die Casting and Squeeze Casting. The agency is
invested with current cutting-edge facility and equipment’s for operations. The production installation is
designed to cater to a quantity of 25,000 engine parts / additives in keeping with day. Casting Division operates
plant life in India one in Rewari, Haryana and the opposite in Hosur close to Bangalore.

8. FUEL CAP DIVISION

MIL – Fuel Cap Division was set up in 2012 as an extension of relationship with our JV partner Toyoda Gosei.
Toyoda Gosei is the world’s leading Japanese manufacturer of fuel caps and has 17 patents registered for this
product. The plant is built on an area of 1200 sq meters, with a current capacity of 1.5 million units per annum.
The company is offering snap type and ratchet type (screw type) fuel caps. The special features of the TG-
Minda fuel caps ranges from easy operation with a light feeling, easy handling, high safety, compact design
along with high performance and reliability. The fuel caps are supplied to major OEMs primarily to Maruti
Suzuki through TG MINDA.
9. SEATING DIVISION
Seating division came into existence in April 2021 with the completion of amalgamation of Harita Seating
Systems Ltd with Minda Industries Ltd, Harita had commenced operations in 1988.Since its inception, the
company has various milestones to its credit in all the segments where it operates. The company has six
manufacturing locations in India: Hosur, Tamil Nādu Ranjangaon, Maharashtra Jamshedpur, Jharkhand Pant
Nagar, Uttarakhand Chennai, Tamil Nadu Pithampur, Madhya Pradesh The company’s subsidiary, Harita
Fehrer Limited is a joint venture between Minda Industries Ltd and F.S Fehrer Automotive GmbH, one of the
market leaders in automotive foam business in Germany, Europe.

PRODUCTS AT A GLANCE

Percentage of total
Market company sales for the
Business Details Customer
share fiscal year ended
March 31, 2021
-Maruti Suzuki
-Renault Nissan
-Mahindra &
Ranked
Providing lighting solutions for Mahindra
third in
motorcycles, tricycles, ATVs, off- -Royal Enfield
India with
road and aftermarket markets -Yamaha
the
Lighting -Acquired Spain's Rinder Group in -Tata Group 22%
acquisition
2016 -Suzuki
of Spain's
-Acquired Delvis, an automotive -Swaraj Mazda
Rinder
lighting solutions company, in 2020 -New Holland
Group
-Bajaj Triumph
-KTM
-Isuzu
 -Bajaj
-Honda
Motorcycles
-Hero MotoCorp Ranked
Mainly manufactures switch systems
-Royal Enfield first in
and handlebar assemblies for
-Yamaha Motors India for
motorcycles and tricycles.
-Piaggio two-
Switches For automobiles, the company 29％
-Maruti Suzuki wheeled
supplies products through a joint
-Toyota and four-
venture with Tokai Rika (Mindarika
-MSIL wheeled
Private Limited).
-Tata Group vehicles
-Mahindra &
Mahindra
-Hyundai

-Maruti Suzuki
-Renault
Manufactures horns for motorcycles, -Nissan
No. 1 in
automobiles, off-road and -Tata Motors
India and
commercial vehicles -Bajaj Auto Limited
Acoustics No. 2 10％
-Acquired Clarton Horns, a Spanish -Honda
globally for
manufacturer of electronic horns for Motorcycles and
horns
automobiles, in 2013 Scooters
-Hyundai
-Royal Enfield

Subsidiary Minda Kosei Aluminum

manufactures alloy wheels.
Castings -Partnering with Korea's Dayou - - 12％
Global to supply wheels to Korean
OEMs by 2022

-TVS No. 1 in
-Royal Enfield India for
Merged with Harita Seating Systems
-TAFE commercial
Seats Limited (HSSL) to expand the 10％
-Daimler vehicles,
business field of automobile seats.
-John Deere buses and
-TATA motorcycles
Start-stop sensors, contact and non-
contact type speed sensors, TPMS
(Tyre Pressure Monitoring System),
EAPM (Electronic Accelerator Pedal
Others Module), DC-DC converters, - - 17％
headlight leveling motor, blow
molding, fuel caps, air filters, air
bags, CNG and LPG kits, speakers,
and infotainment, among others.
 ORGANIZATIONAL STRUCTURE
Meaning Of Organization Structure:
The pattern of organizational hierarchy based on authority responsibility relationship is known as organizational
structure.
"Organization Structure is more than a chart," says Lounsbury Fish. It is the mechanism by which management
directs, coordinates, and controls the operation. It is the bedrock of management."
One of the forces influencing an organization's goal is its structure. It is created in such a way that it can be used
to achieve a social goal. The extent to which an organization can achieve its goals is heavily influenced by its
structure.
So, at the initial stage, a structure is created to give shape to a tentative idea. Because the organization is small,
the structure is very simple at first. As the organization grows in size, it becomes more complex, necessitating
planning and a systematic approach.

Nature of Organization Structure:

1. It makes it easier to coordinate organizational activities and tasks.
2. It describes the pattern of formal relationships and responsibilities among people in various positions within
the organization.
3. It elucidates the hierarchical relationship between various levels of management within the organization.
4. It makes it easier to implement policies, practices, procedures, standards, evaluation systems, and other
systems that guide the activities and relationships of people in the organization.
5. It lists the activities and tasks assigned to various departments and individuals within the organization.

Corporate History
The Company became integrated as ‘Minda Industries Limited’ below the Companies Act, 1956 vide a
certificate of incorporation dated September 16, 1992 issued via way of means of the Registrar Companies,
Delhi & Haryana and obtained its certificates of commencement of enterprise on November 3, 1992 below the
Companies Act, 1956.

Organizational Structure
UNO MINDA Group has a structured orientation for its different verticals grouped under specific domains, in
accordance with prevailing trends in global auto components ancillary industries.
This assists businesses in systematizing their operations for more effective and efficient execution. This
segregated and proactive approach evolves into a more productive business module by creating a dynamic
business environment.
Greater business opportunities and better strategies result in a higher revenue model; the Group realigns its
verticals into independent profit centers, marking the progression to this nimble approach.
As of the date of this Placement Document, the company has 24 Subsidiaries, 11 Joint Ventures and 6
Associates, details of which are as follows:
List of Subsidiaries and stepdown subsidiaries:
1. Minda Storage Batteries Private Limited
2. Minda Katolec Electronics Services Private Limited
3. Mindarika Private Limited
4. Minda Kosei Aluminum Wheels Private Limited
5. Minda Kyoraku Limited
6. YA Auto Industries (Partnership Firm)
7. iSYS RTS GmbH, Germany
8. PT Minda Asean Automotive, Indonesia
(a) PT Minda Trading, Indonesia
9. MI Torica India Private Limited
(a) MITIL Polymers Private Limited
10. Harita Fehrer Limited
11. SAM Global Pte Ltd, Singapore
(a) Minda Industries Vietnam Co. Limited, Vietnam
(b) Minda Delvis GmbH, Germany
(c) Delvis Solutions GmbH, Germany
(d) Delvis Products GmbH, Germany
(e) Minda Korea Co., Ltd, South Korea
12. Global Mazinkert S.L., Spain
(a) Clarton Hom, Spain
(b) Clarton Hom S. De R.L. De C.V., Mexico
(c) Clarton Hom Marco SRL, Morocco*
(d) CH Signalkoustic GmbH, Germany*
(e) Light & Systems Technical Center S.L., Spain

Mindarika Private Limited and Minda Kosei Aluminum Wheel Private Limited, have been classified as the
Material 133 Subsidiaries of the Company for the financial year ended March 31, 2021.
List of Joint Ventures
1. Minda Westport Technologies Limited (formerly known as Minda Emer Technologies Limited)
2. Rinder Riduco, S.A.S. Columbia
3. ROKI Minda Co. Pvt. Ltd.
4. Minda TTE DAPS Private Limited
5. Minda Onkyo India Private Limited
6. Minda TG Rubber Private Limited
7. Denso Ten Minda India Private Limited
8. Minda D-Ten India Private Limited
9. Toyoda Gosei Minda India Pvt. Limited
10. Kosei Minda Mould Private Limited
11. Tokai Rika Minda India Private Limited

List of Associate Companies:

As on the date of this Placement document, our Company has following Associate Companies:
1. Kosei Minda Aluminum Company Private Limited;
2. Minda NexGenTech Limited;
3. CSE Dakshina Solar Private Limited;
4. Strongsun Renewables Private Limited;
5. Yogendra Engineering (partnership firm);
6. Auto Components (partnership firm).
The organizational structure of the Company is as follows:
POLICIES

➢ QUALITY POLICY
Quality must be prioritized to ensure market competitiveness and the supply of cost-effective products to
customers.
This will be reflected in our commitments, actions, products, and services to our internal and external
customers.
To accomplish this, we will create an environment that encourages all of our employees and suppliers to prevent
defects and strive for excellence.

➢ ENVIRONMENTAL POLICY
As a responsible corporate citizen, Minda is dedicated to environmental conservation and has prioritized
environmental protection by:
• Constantly improving the environmental performance of our processes and products, as well as ensuring
pollution prevention at all stages.
• Adherence to all applicable environmental legislation and standards.
• Ensuring efficient use of resources such as energy, fuels, oils, paints, chemicals, water, and so on.
• Waste and packaging material reduction and recycling
• Promoting the use of environmentally friendly technologies to aid in the removal of hazardous materials.

➢ SAFETY POLICY
As a responsible corporate citizen, Minda Group is committed to the safety and health of its employees and
those who may be affected by its operations.
To fulfil this commitment, our policy is to
• Incorporate safety and health measures into all of our activities.
• Comply with all applicable legal and other obligations to which the Organization is bound.
• Raise awareness of safety and health among employees, suppliers and contractors, customers and dealers.
• Constantly improve safety performance through precautions as well as employee participation and training.
The safety policy must be communicated to all employees as well as made available to all interested parties and
the general public.

➢ MATERIAL POLICY
• To develop and nurture a minimum number of high-quality vendors in each category who, through high
productivity and low PPM levels, maintain a high level of cost competitiveness.
• Encourage "Direct On-Line Suppliers" to keep inventories low, and
• To continuously improve manufacturing flexibility through the use of Just-in-time techniques such as the
Kanban system in order to meet customer requirements in the shortest possible time.
FUNCTIONS OF VARIOUS DEPARTMENTS
The different functions or departments of an organization have different roles and duties, which are all aimed at
achieving the overall objectives of the organization. The key functions of each department are explained below:

a) Production Department
• Manufacturing goods for the business to create value for the customer
• Designing goods and services to meet the needs of the customer
• Controlling the production processes involving inputs and processes to create outputs – turning raw
materials into finished products
• Implementing changes to existing products to improve them
• Producing goods at low costs to increase profit margins
• Proper maintenance of equipment and machines in the production process

b) Research and Development Department

• Developing technologies for running operations and implementing strategy for the firm
• Carrying out research to identify innovative ideas to help the company in its growth
• Conducting new product research to identify opportunities for developing new products and creating
new markets
• Carrying out new product development by coming up with creative and innovative ideas
• Upgrading new products and quality control checks
• Keeping with competition through innovation and adapting to new trends in the marke

c) Purchase and Supply Department

• Purchasing raw materials and other resources to be used in production
• Working on costs of production – e.g., acquiring materials in large scale to achieve low costs of
production
• Keeping records of purchases and materials
• Negotiating with suppliers and establishing good contracts and partnership with them
• Ensuring compliance with company and industry policies

d) Marketing Department
• Establishing distribution channels of the organization – how products and services are delivered to
customers.
• Identifying marketing strategies to promote the organization such as advertising through TV, digital
marketing, publicity, etc.
• Communicating and responding to requests and concerns of customers
• Carrying out market research – gathering information about customers, their needs, competitors, and
overall market suitability
• Determining prices of products and services
• Carrying out sales forecast and strategy to improve sales e.g. through personal selling.

e) Human Resources Department

• Determining staffing needs in the organization – carrying out job analysis and developing job
descriptions and specifications.
 • Hiring and recruiting employees to fill open positions in the organization
• Maintaining employee relations through negotiations, motivation, improving working conditions, and
rewarding good performance
• Managing conflicts and administering grievance procedures and disciplinary action.
• Managing employees’ health and safety
• Administering employee redundancy and separation procedures

f) Finance and Accounting Department

• Keeping financial records – recording transactions involving money inflow and outflows
• Preparing financial statements such as statement of cash flow, income statement, and balance sheet
• Performing payment administration functions such as paying employees, determining wages and
salaries, and maintaining income tax, allowances, and insurance records.
• Preparing and disclosing financial reports to key stakeholders for effective decision making.
• Developing budgets for the organization and other departments
• Carrying out financial forecasting and planning for various projects to determine their viability.

SWOT ANALYSIS
1. Strengths of Minda Industries
• Effective Research and Development (R&D)
– Minda Industries has innovation driven culture where significant part of the revenues are spent on the
research and development activities. This has resulted in – Minda Industries staying ahead in the Auto
& Truck Parts industry in terms of – new product launches, superior customer experience, highly
competitive pricing strategies, and great returns to the shareholders.
• Analytics focus
– Minda Industries is putting a lot of focus on utilizing the power of analytics in business decision
making. This has put it among the leading players in the Auto & Truck Parts industry. The technology
infrastructure of India is also helping it to harness the power of analytics for – marketing optimization,
demand forecasting, customer relationship management, inventory management, information sharing
across the value chain etc.
• Organizational Resilience of Minda Industries
– The covid-19 pandemic has put organizational resilience at the centre of everthing Minda Industries
does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological
Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
• Diverse revenue streams
– Minda Industries is present in almost all the verticals within the Auto & Truck Parts industry. This has
provided Minda Industries a diverse revenue stream that has helped it to survive disruptions such as
global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
• Low bargaining power of suppliers
– Suppliers of Minda Industries in the Consumer Cyclical sector have low bargaining power. Minda
Industries has further diversified its suppliers portfolio by building a robust supply chain across various
countries. This helps Minda Industries to manage not only supply disruptions but also source products
at highly competitive prices.
• Cross disciplinary teams
– Horizontal connected teams at the Minda Industries are driving operational speed, building greater
agility, and keeping the organization nimble to compete with new competitors. It helps are organization
to ideate new ideas, and execute them swiftly in the marketplace.
• Operational resilience
– The operational resilience strategy of Minda Industries comprises – understanding the underlying the
factors in the Auto & Truck Parts industry, building diversified operations across different geographies
so that disruption in one part of the world doesn’t impact the overall performance of the firm, and
integrating the various business operations and processes through its digital transformation drive.
• Innovation driven organization
– Minda Industries is one of the most innovative firm in Auto & Truck Parts sector.
• Superior customer experience
– The customer experience strategy of Minda Industries in Auto & Truck Parts industry is based on four
key concepts – personalization, simplification of complex needs, prompt response, and continuous
engagement.
• Digital Transformation in Auto & Truck Parts industry
- digital transformation varies from industry to industry. For Minda Industries digital transformation
journey comprises differing goals based on market maturity, customer technology acceptance, and
organizational culture. Minda Industries has successfully integrated the four key components of digital
transformation – digital integration in processes, digital integration in marketing and customer
relationship management, digital integration into the value chain, and using technology to explore new
products and market opportunities.
• Successful track record of launching new products
– Minda Industries has launched numerous new products in last few years, keeping in mind evolving
customer preferences and competitive pressures. Minda Industries has effective processes in place that
helps in exploring new product needs, doing quick pilot testing, and then launching the products
quickly using its extensive distribution network.
• Ability to recruit top talent
– Minda Industries is one of the leading players in the Auto & Truck Parts industry in India. It is in a
position to attract the best talent available in India. The firm has a robust talent identification program
that helps in identifying the brightest.

2. Weaknesses of Minda Industries

• High cash cycle compares to competitors
Minda Industries has a high cash cycle compare to other players in the Auto & Truck Parts industry. It
needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory
costs, and be more profitable.
• Products dominated business model
– Even though Minda Industries has some of the most successful models in the Auto & Truck Parts
industry, this business model has made each new product launch extremely critical for continuous
financial growth of the organization. Minda Industries should strive to include more intangible value
offerings along with its core products and services.
• Need for greater diversity
– Minda Industries has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has
resulted in limited success. It needs to expand the recruitment and selection process to hire more people
from the minorities and underprivileged background.
• High dependence on Minda Industries ‘s star products
– The top 2 products and services of Minda Industries still accounts for major business revenue. This
dependence on star products in Auto & Truck Parts industry has resulted into insufficient focus on
developing new products, even though Minda Industries has relatively successful track record of
launching new products.
• Interest costs
– Compare to the competition, Minda Industries has borrowed money from the capital market at higher
rates. It needs to restructure the interest payment and costs so that it can compete better and improve
profitability.
• No frontier risks strategy
– From the 10K / annual statement of Minda Industries, it seems that company is thinking out the frontier
risks that can impact Auto & Truck Parts industry. But it has very little resources allocation to manage
the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking
the rise of artificial intelligence, opportunities and threats emerging from commercialization of space
etc.
• Capital Spending Reduction
– Even during the low interest decade, Minda Industries has not been able to do capital spending to the
tune of the competition. This has resulted into fewer innovations and company facing stiff competition
from both existing competitors and new entrants who are disrupting the Auto & Truck Parts industry
using digital technology.
• Low market penetration in new markets
– Outside its home market of India, Minda Industries needs to spend more promotional, marketing, and
advertising efforts to penetrate international markets.
• Slow to strategic competitive environment developments
– As Minda Industries is one of the leading players in the Auto & Truck Parts industry, it takes time to
assess the upcoming competitions. This has led to missing out on at least 2-3 big opportunities in the
Auto & Truck Parts industry in last five years.
• Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, TikTok, and Snap,
Minda Industries is slow explore the new channels of communication. These new channels of
communication can help Minda Industries to provide better information regarding Auto & Truck Parts
products and services. It can also build an online community to further reach out to potential customers.
• Ability to respond to the competition
– As the decision making is very deliberative at Minda Industries, in the dynamic environment of Auto &
Truck Parts industry it has struggled to respond to the nimble upstart competition. Minda Industries has
reasonably good record with similar level competitors but it has struggled with new entrants taking
away niches of its business.
3. Opportunities of Minda Industries
• Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Minda Industries can build a
diversified supply chain model across various countries in - South East Asia, India, and other parts of
the world. This reconfiguration of global supply chain can help Minda Industries to buy more products
closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
• Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for
Minda Industries to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the
high end workforce in fields such as finance, information technology, can continously work from
remote local post Covid-19. This presents a really great opportunity for Minda Industries to hire the
very best people irrespective of their geographical location.
• Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using
Bitcoin and other blockchain based currencies, etc can help Minda Industries to reconfigure its entire
business model. For example it can used blockchain based technologies to reduce piracy of its products
in the big markets such as China. Secondly it can use the popularity of e-commerce in various
developing markets to build a Direct to Customer business model rather than the current Channel
Heavy distribution network.
• Lowering marketing communication costs
– 5G expansion will open new opportunities for Minda Industries in the field of marketing
communication. It will bring down the cost of doing business, provide technology platform to build
new products in the Auto & Truck Parts industry, and it will provide faster access to the consumers.
• Using analytics as competitive advantage
– Minda Industries has spent a significant amount of money and effort to integrate analytics and machine
learning into its operations in Auto & Truck Parts sector. This continuous investment in analytics has
enabled Minda Industries to build a competitive advantage using analytics. The analytics driven
competitive advantage can help Minda Industries to build faster Go To Market strategies, better
consumer insights, developing relevant product features, and building a highly efficient supply chain.
• Changes in consumer behavior post Covid-19
– consumer behavior has changed in the Auto & Truck Parts industry because of Covid-19 restrictions.
Some of this behavior will stay once things get back to normal. Minda Industries can take advantage of
these changes in consumer behavior to build a far more efficient business model. For example
consumer regular ordering of products can reduce both last mile delivery costs and market penetration
costs. Minda Industries can further use this consumer data to build better customer loyalty, provide
better products and service collection, and improve the value proposition in inflationary times.
• Low interest rates
– Even though inflation is raising its head in most developed economies, Minda Industries can still utilize
the low interest rates to borrow money for capital investment. Secondly it can also use the increase of
government spending in infrastructure projects to get new business.
• Creating value in data economy
– The success of analytics program of Minda Industries has opened avenues for new revenue streams for
the organization in Auto & Truck Parts industry. This can help Minda Industries to build a more
 holistic ecosystem for Minda Industries products in the Auto & Truck Parts industry by providing –
data insight services, data privacy related products, data based consulting services, etc.
• Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Minda
Industries can not only reduce the costs of the project but also help it in integrating the projects with
other processes within the organization.
• Use of Bitcoin and other crypto currencies for transactions in Auto & Truck Parts industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has
opened new opportunities for Minda Industries in the Auto & Truck Parts industry. Now Minda
Industries can target international markets with far fewer capital restrictions requirements than the
existing system.
• Better consumer reach
– The expansion of the 5G network will help Minda Industries to increase its market reach. Minda
Industries will be able to reach out to new customers. Secondly 5G will also provide technology
framework to build new tools and products that can help more immersive consumer experience and
faster consumer journey.
• Developing new processes and practices
– Minda Industries can develop new processes and procedures in Auto & Truck Parts industry using
technology such as automation using artificial intelligence, real time transportation and products
tracking, 3D modeling for concept development and new products pilot testing etc.
• Leveraging digital technologies
– Minda Industries can leverage digital technologies such as artificial intelligence and machine learning
to automate the production process, customer analytics to get better insights into consumer behavior,
real time digital dashboards to get better sales tracking, logistics and transportation, product tracking,
etc.

4. Threats of Minda Industries

• Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially
technology companies. The digital arm of Minda Industries business can come under increasing
regulations regarding data privacy, data security, etc.
• Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers,
miscreants, and disruptors. The cyber security interruption, data leaks, etc. can seriously jeopardize the
future growth of the organization.
• Consumer confidence and its impact on Minda Industries demand
– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of
gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography.
All the factors contribute to people saving higher rate of their income, resulting in lower consumer
demand in Auto & Truck Parts industry and other sectors.
• Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex,
Minda Industries may face longer learning curve for training and development of existing employees.
This can open space for more nimble competitors in the field of Auto & Truck Parts sector.
• Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs,
higher savings among population, and lower demand for goods and services in the economy. The
household savings in US, France, UK, Germany, and Japan are growing faster than predicted because
of uncertainty caused by pandemic.
• Instability in the European markets
– European Union markets are facing three big challenges post Covid – expanded balance sheets, Brexit
related business disruption, and aggressive Russia looking to distract the existing security mechanism.
Minda Industries will face different problems in different parts of Europe. For example, it will face
inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in
Southern European countries, and geopolitical instability in the Eastern Europe.
• Regulatory challenges
– Minda Industries needs to prepare for regulatory challenges as consumer protection groups and other
pressure groups are vigorously advocating for more regulations on big business - to reduce inequality,
to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of
big money on democratic institutions, etc. This can lead to significant changes in the Auto & Truck
Parts industry regulations.
• Shortening product life cycle
– it is one of the major threats that Minda Industries is facing in Auto & Truck Parts sector. It can lead to
higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
• Easy access to finance
– Easy access to finance in Auto & Truck Parts industry will also reduce the barriers to entry in the
industry, thus putting downward pressure on the prices because of increasing competition. Minda
Industries can utilize it by borrowing at lower rates and invest it into research and development, capital
expenditure to fortify its core competitive advantage.
• New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had
declined. But in 2020 alone, there are more than 1.5 million new business applications in United States.
This can lead to greater competition for Minda Industries in the Auto & Truck Parts sector and impact
the bottom line of the organization.
• Environmental challenges
– Minda Industries needs to have a robust strategy against the disruptions arising from climate change
and energy requirements. EU has identified it as key priority area and spending 30% of its 880 billion
Euros European post Covid-19 recovery funds on green technology. Minda Industries can take
advantage of this fund but it will also bring new competitors in the Auto & Truck Parts industry.
• Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Minda
Industries in Auto & Truck Parts industry. The Auto & Truck Parts industry is already at various
 protected from local competition in China, with the rise of trade war the protection levels may go up.
This presents a clear threat of current business model in Chinese market.
• Stagnating economy with rate increase

– Minda Industries can face lack of demand in the market place because of Fed actions to reduce
inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher
borrowing costs, and consolidation in the Auto & Truck Parts industry.

SYSTEM OF ACCOUNTING

The firm prepares its accounts on accrual basis except otherwise stated in accordance with normally accepted
accounting principles.
Accounting policies adopted during the year are in line with Indian Accounting Standards (Ind AS).

SIGNIFICANT ACCOUNTING POLICIES

• Property, Plant and Equipment
Items of property, plant and equipment are measured at cost, which includes capitalized borrowing
costs, less accumulated depreciation.
Cost of an item of property, plant and equipment comprises its purchase price, including import duties
and non-refundable purchase taxes, after deducting trade discounts and rebates, any directly attributable
cost of bringing the item to its working condition for its intended use.
The cost of a self-constructed item of property, plant and equipment comprises the cost of materials and
direct labour, any other costs directly attributable to bringing the item to working condition for its
intended use, and estimated costs of dismantling and removing the item and restoring the site on which
it is located.

• Depreciation/amortization
Depreciation/amortization for the year has been provided for on reducing balance methods at the rates
specified under the Income Tax Act/Rules.

• Inventories
Inventories which comprise raw materials, work-in-progress, finished goods and stores and spares are
carried at the lower of cost and net realizable value.
Cost of inventories comprises all costs of purchase, costs of conversion and other costs incurred in
bringing the inventories to their present location and condition.
In determining the cost, First in First out (FIFO) method is used. In the case of manufactured
inventories and work in progress, fixed production overheads are allocated on the basis of normal
 capacity of production facilities.
Net realizable value is the estimated selling price in the ordinary course of business, less the estimated
costs of completion and the estimated costs necessary to make the sale.
The net realizable value of work-in-progress is determined with reference to the selling prices of related
finished products. Raw materials and other supplies held for use in the production of finished products
are not written down below cost except in cases where material prices have declined and it is estimated
that the cost of the finished products will exceed their net realizable value.
The comparison of cost and net realizable value is made on an item-by-item basis.
Inventories in transit are valued at cost.
Appropriate adjustments are made to the carrying value of damaged, slow moving and obsolete
inventories based on management’s current best estimate.

• Revenue recognition

. Revenue from the sale of goods in the course of ordinary activities is measured at the fair value of the
consideration received or receivable, net of returns rejection, trade discounts and volume rebates. The
amount recognized as revenue is exclusive of goods & service tax (GST). Revenue is recognized when
the significant risks and rewards of ownership have been transferred to the buyer.

. Designing fees and service revenue is recognized on an accrual basis as and when the services are
rendered in accordance with the terms of the underlying contract.

• Purchases
Purchase is stated inclusive of freight and net of returns, rejection and discount.

• Borrowing cost
Borrowing costs are interest and other costs incurred in connection with the borrowing of funds,
Borrowing costs directly attributable to acquisition or construction of an asset which necessarily take a
substantial period of time to get ready for their intended use are capitalized as part of the cost of that
asset. Other borrowing costs are recognized as an expense in the period in which they are incurred.

• Income tax
The provision of income tax is based on the amount expected to be paid to the tax authorities in
accordance with Income Tax Act/Rules.
• Provision for Leave Encashment and Gratuity
Provision for Leave Encashment and Gratuity has been made on the Actuarial Valuation report
obtained from the approved valuer.

PRODUCT PROMOTION MEASURES

1. PERSONAL SELLING
Personal selling is a person-to-person dialogue between buyer and seller where the purpose of the interaction,
whether face-to-face or over the phone, is to persuade the buyer to accept a point of view or to convince the
buyer to take a specific course of action. However, in some situations, this method is quite expensive to employ.

2. ADVERTISING
Advertising is an action by a firm to promote sales of its products, the basic aim being to increase the number of
customers who prefer its products to those of its competitors. Advertising can be used to inform consumers of
the existence and location of the product(s) to which it is directed. It can also influence the nature of consumers'
preference to the benefit of the firm's products.

3. PUBLICITY
Publicity is similar to advertising but involves an unpaid and unsigned message, even though it may use the
same mass media as advertising. When information about a product is consid-ered newsworthy, mass media
tend to communicate such information free of cost. Thus, the organization being publicized neither signs nor
pays for the message.

4. SALES PROMOTION
Sales promotion is defined as activities other than personal selling, advertising and publicity that are intended to
stimulate customer purchase or dealer effectiveness in a specific time period. The main purpose of sales
promotion is to achieve short-term objectives.

5. PUBLIC RELATIONS
Public relations is the deliberate, planned and sustained effort to establish and maintain mutual understanding
between an organization and its public. Fostering good public relations now plays a very important role in sales
promotion. Even relatively minor incidents, such as an impolite representative or unhelpful telephone operator,
can destroy the public image.

The company's marketing begins with development and engineering teams which work closely with
customers or prospective customers to design products tailored to meet their needs. Based on the
credentials and recognitions awarded to them by their existing customers, they approach new customers
for the business. Its strong relationships with customers as well as strategy to cross-sell the products to
existing customers enable them to market their products with limited expenditure on marketing and
brand building.
PROMOTION POLICIES OF EMPLOYEES

➢ RECRUITMENT
Because of our rapid development, we require a large number of people who are well qualified and trained to
keep up with our business needs. We recruit young talent from campuses and train them to meet the
organization's needs. We hire from the best Engineering Colleges, Polytechnics, ICAI, ICSI, and Business
Schools. Each new hire receives systematic, rigorous on-the-job training.

➢ INDUCTION
Anyone who joins the organization must go through a rigorous induction programme at UNO MINDA's
dedicated Centralized Training Center known as "Pathshala." The programme focuses on the values, culture,
systems, and practices of organizations. Employees are certified upon successful induction.

➢ TALENT MANAGEMENT
At UNO MINDA, NK Minda Group, talent management is a systematic effort to identify and develop internal
talent to meet current and future business needs. We believe in Workforce Planning and forecast our human
capital requirements ahead of time so that we have a talented and trained pool of human resources available for
all strategic business projects.

➢ ALIGNMENT OF REWARD & PERFORMANCE

The company's performance is reflected in the performance management system. Individuals are appropriately
compensated for their contributions to the achievement of organizational goals as well as their own
performance.
Each team member is evaluated on their performance against a pre-determined target (what we call MP-CPs) as
well as their participation in improvement initiatives. The PMS includes career planning, promotions, and job
rotation. The PMS is visible and linked to all HRM initiatives.

➢ TRAINING
We believe in the growth and development of our employees. Employee training needs are identified through
performance appraisals and skill mapping. We have created very strong programmes with the explicit goal of
making UNO MINDA, NK Minda Group a leader in the auto components industry.

➢ SKILL DEVELOPMENT
In UNO MINDA, NK Minda Group, skill development is a continuous and focused endeavour. Functional
Skills have been defined as part of Skill Development, and each employee is regularly assessed on these skills.
These abilities are improved by providing training and direction.

➢ LEADERSHIP DEVELOPMENT PROGRAMME

There is a conscious effort to develop leadership, which includes identifying key personnel, providing feedback
during performance appraisals, assessing competencies, analyzing gaps, and developing career development
plans. We conduct Competency Mapping and Career Development for the team based on their performance and
growth potential.

TRAINING

Definition of Training:
Dale S. Beach defines training as ‘the organized procedure by which people learn knowledge and/or skill for a
definite purpose’. Training refers to the teaching and learning activities carried on for the primary purpose of
helping members of an organization acquire and apply the knowledge, skills, abilities, and attitudes needed by a
particular job and organization.

Employee and manager training is critical in this ever-changing environment. It is an important HRD activity
that aids in the development of employees' competencies. Employees benefit from training in a variety of ways,
including increased efficiency and effectiveness, self-confidence development, and assistance with self-
management.
The organization's stability and progress are always dependent on the training provided to its employees. Every
step of expansion and diversification necessitates training. Only training can improve quality and reduce waste.
Training and development are also critical for adapting to changing environments.

UNO MINDA has established its own training academy, Pathshala, to develop empowered people and
leaders who strive for excellence in everything they do. Pathshala provides ongoing education and training to all
new and existing employees.
The topics range from behavioural to technical, with the most popular being the 'Minda Way' session, in which
we motivate everyone to see a connection between their daily operations and the company's vision. Most people
leave with a stronger commitment to the company's goals. We can proudly state that after our sessions, trainees
want to work rather than have to work. We also have a fully operational practical skill center where people can
'Do and Learn,' which is a learning experience that will last a lifetime. We believe that the best way to learn is
through experience.
PURCHASING SYSTEMS OF MATERIALS
Purchasing of materials refers to the procurement of materials for a price. It is usually handled by a specific
department (e.g., purchase manager in the procurement department), particularly in large companies.
Purchasing is a critically important and specialized activity in manufacturing companies. Materials account for
a considerable portion of production costs. As such, the purchase manager in such a business is responsible for
spending more of its money than anyone else.
Any errors on the part of the purchase manager, therefore, may be extremely expensive. Furthermore,
purchasing sub-standard materials will undermine product quality, cause wastage, and lead to costly machine
breakdowns.

Hence, it is fundamentally important to ensure that the function of purchasing materials is performed
effectively, efficiently, and economically.

The purchasing systems are: 1. Forward Buying 2. Tender Buying 3. Blanket Order 4. Zero Stock 5. Rate
Control 6. Reciprocity 7. System Contract.

1. FORWARD BUYING
This is not the same as speculative buying. This special purchasing system commits an organization to a long-
term commitment, usually for a year. The terms of such forward purchasing are determined by the availability
of materials, financial policies, the economic order quantity, quantitative discounts, and staggered delivery.

2. TENDER BUYING
This type of special purchasing is typically undertaken by government departments and public sector enterprises
in order to avoid favoritism and corruption.
Tenders are accepted and opened by authorized personnel, and the lowest tender is accepted if all other
conditions are met. As a result, the process of such a purchase entail creating a bidder's list, soliciting bids,
evaluating bids by comparing quotations, and placing the order with the lowest bidder.
The public sector generally solicits tenders through newspaper advertisements, whereas private organizations
only buy from established suppliers.

3. BLANKET ORDER
It is an agreement for a set number of specified items to be delivered over a set period of time at a set price.
This saves money and frees the buyer from routine tasks. It also reduces clerical work due to fewer purchase
orders.
The blanket order purchasing system allows for the grouping of requirements and lower prices through quantity
discounts. The supplier also benefits. He incurs no selling costs.

4. ZERO STOCK SYSTEM

This system operates on the basis of zero stock, with the supplier holding the stock for the firms. A system like
this requires the buyer and seller to be close enough so that the raw material of one becomes the finished
product of the other. This system works well if the seller owns the inventory and the two parties collaborate
closely.
This system does not lock up a large amount of capital, but the buyer must pay a slightly higher price because
inventory carrying costs are included in the price. Other advantages include a significant reduction in inventory
obsolescence, lead time, and clerical efforts in paper work.
The supplier also benefits from having more time to devote to marketing.

5. RATE CONTRACT SYSTEM

It is commonly used by public sector organizations and government departments. Typically, suppliers will
advertise that they are on a 'rate contract' with DGS & D for a specific period. This system assists organizations
in saving money by reducing internal administrative lead time.
Suppliers usually demand higher prices for prompt delivery, so a minimum quantity at the agreed-upon rates is
required. This is referred to as a running contract.

6. RECIPROCITY
This implies preferring to buy from one's customers over others.
The guiding principles are "if you kill my cat, I will kill your dog" and "do unto your customers as you would
have them do unto you." Other things being equal, reciprocity principles apply. In this purchasing system, there
is scope and possibility for less efficient manufacturers and distribution to gain if the purchasing executive
engages in reciprocity on his own initiative, even with the supplier on terms and conditions that are not equal
with other suppliers. Reciprocity buying should be used sparingly because it discourages competition and leads
to higher prices and fewer suppliers.

7. SYSTEM CONTRACT
The original indent is shipped back with the items in this system. It is always a simple contract. It avoids the
usual documents such as purchase orders, materials requisitions, expediting letters and acknowledgment, goods
in words report, and so on.
Administrative costs are reduced for both the buyer and the seller, and suitable contracts are ensured. Such a
contract system only covers the delivery period, price, and invoicing procedure. Buyers are relieved of routine
tasks in such a system.

HUMAN RESOURCE DEVELOPMENT (HRD)

Human Resource Development (HRD), a subset of Human Resource Management, focuses on employee
training and development. Human Resource Development focuses on developing a great workforce so that the
company and its employees can meet their job objectives while serving customers. HRD is an abbreviation for
Human Resources Development. Human Resource Development (HRD), a subset of human resource
management, is in charge of employee training and development. HRD is a framework for assisting people in
improving their skills, knowledge, and abilities in order to improve the performance of a business.
THE CONCEPT OF HUMAN RESOURCE DEVELOPMENT
Human resource development in the context of an organization is a systematic and structured process that
assists individuals in:
❖ Acquire or improve the skills required to carry out various duties related to their current or anticipated
future responsibilities.
❖ Improve their overall abilities and discover and utilize their inner potential for personal and organizational
growth.
❖ Foster a work environment that values excellent supervisor-subordinate relationships, sub-unit
collaboration, and teamwork, all of which contribute to employees' professional well-being, motivation, and
pride.
This HRD definition is limited to an organizational setting. It would be different in a state or nation's context.
HRD is a method, not merely a set of processes and procedures. Performance evaluation, counselling, training,
and organizational development interventions are used on a continuous basis to start, assist, and encourage this
process. Because there is no end to the process, the mechanisms may need to be checked on a regular basis to
see if they help or hinder it. Organizations can aid this development process by planning for it, providing
organizational resources, and demonstrating an HRD attitude that values people and encourages their growth.

AIMS OF HUMAN RESOURCE DEVELOPMENT

The following are the primary goals of HRD:
❖ The current job performance of individuals should be improved.
❖ Individuals' ability to perform future jobs will improve.
❖ Improve your organization's efficiency and vitality.
❖ Enhance a person's attitude
❖ Individual and organizational objectives should be aligned.
❖ Make the most of a company's human resources.
❖ Increase your creativity.
❖ Individuals should be given the opportunity and resources to fully express their talent and potential.
❖ It is necessary to improve workplace culture and interpersonal relationships.
❖ Maintain industrial peace
❖ Increase your output.

OBJECTIVES OF HUMAN RESOURCE DEVELOPMENT

HRD's goals are as follows:
❖ To prepare the individual to meet current and changing job demands in the future.
❖ To avoid employees becoming obsolete.
❖ to improve and broaden one's creative abilities and capabilities
❖ Employees are being prepared for advancement.
❖ To provide fundamental HRD knowledge and skills to new hires.
❖ People's potential for higher-level positions should be nurtured.
❖ Morale, a sense of responsibility, cooperative attitudes, and excellent connections should all be encouraged.
❖ To broaden top executives' perspectives by allowing them to share their experiences both inside and outside
the company.
❖ To ensure that the organization operates smoothly and efficiently.
❖ To create an all-encompassing HRD framework.
❖ To improve the capabilities of the organization.
NATURE OF HUMAN RESOURCE DEVELOPMENT
Some natures of HRD are as follows:

1. Learning: Learning is at the heart of HRD. HRD's main goal is to help employees gain knowledge, learn new
concepts, and improve existing abilities. HRD's main goal is to improve the quality of the workforce by
establishing an atmosphere that encourages continuous learning.
2. Specific Duration: Any HRD program would have a set time limit. It may be for a short, medium, or extended
period.
3. Career Development: HRD assists individuals in their professional development by aligning employee traits
to work needs. Individual employee growth and development are key to the organization's success.
4. Organizational Development: HRD is concerned with the company's advancement, not only the
development of human resources. Positive improvements are made to the workplace culture, practices, and
organizational structure.
5. Improves Performance: As a result of HRD, employee performance improves. The training programs
enhance employees' competencies and productivity.
6. Employee Welfare: To facilitate HRD, the organization tries to give all necessary amenities for the workers'
physical and mental well-being. Employee benefits include, among other things, canteens, a crèche, and
medical insurance.
7. Long-Term Benefits: HRD is a notion that looks to the future. HRD's effects are only noticeable after some
time has passed since it was implemented. However, it will help both the person and the company in the long
run.
8. Continuous Process: HRD is a never-ending process. Various HRD programs will be established in the firm
in response to changes in the workplace. To adapt to changes in the environment, human behavior must be
watched constantly.
9. Development of Team Spirit: HRD promotes a healthy work environment that encourages collaboration and
teamwork across various groups and departments. Employees must have a feeling of commitment and
belonging. Therefore, team spirit is essential.

NEED OF HUMAN RESOURCE DEVELOPMENT

Human resource development is required in an organization for the following reasons:
1. Maintaining a Level of Growth
After a certain period of time, the growth of an organization may reach a saturation point. Employee capabilities
must be refined or enhanced to sustain such a high level of development because businesses operate in ever-
changing environments that necessitate the acquisition of new skills.
2. Increase Efficiency:
Any organization that wishes to improve its services and effectiveness in terms of cost reduction, delay
reduction, higher customer satisfaction, better quality and promptness of services, and market image must train
its employees to perform the tasks required to achieve these objectives.
3. Achieving Goals:
People require competence to complete tasks. A higher level of competence is required to perform actions to a
higher degree and quality. A company's competencies must be continually developed in order to achieve its
goals. Employees who are competent and motivated are critical to an organization's survival, development, and
greatness.

SCOPE OF HUMAN RESOURCE DEVELOPMENT

Human resource management is concerned with human resource acquisition, development, compensation,
maintenance, and utilization. HRD is concerned with the development of human resources in order to maximize
their utilization in order to achieve individual, group, and organizational goals. As a result, HRM has a broader
scope, and HRD is an essential component of HRM. Human resource development, on the other hand, aids in
the efficient management of human resources. The scope of HRD extends to all HRM functions.
The scope of HRD includes:
❖ Recruiting people within the parameters of human resource development potential.
❖ Identifying personnel with growth potential in order to meet current and future organizational demands.
❖ Assist employees in learning from their superiors through performance consultations, performance
counselling, and performance interviews.
❖ Employees' management and behavioural skills, as well as their knowledge, should be improved.
❖ Every employee should be trained to learn new technological skills and information.
❖ Employee career development and planning programmes are introduced.
❖ Employee behavior can be modified through organizational development.
❖ Employee growth and succession planning
❖ Group dynamics, intra-team interaction, and inter-team contact all contribute to employee learning.
❖ Quality circles for learning and worker participation in management plans
❖ Learning opportunities are provided by social and religious interactions and programmes.
❖ Learning can be accomplished through job rotation, enrichment, and empowerment.

FEATURES OF HUMAN RESOURCE DEVELOPMENT

❖ Human resource development (HRD) is a systematic and planned approach to individual development
aimed at meeting organizational, group, and individual goals.
❖ Human resource development improves people's abilities and knowledge at the individual, dyadic, group,
and organizational levels.
❖ Human resource development (HRD) is the process of constantly improving technical, management,
behavioural, and conceptual skills and knowledge.
❖ Human resource development is a broad term that encompasses a variety of topics. This body of knowledge
includes engineering, technology, psychology, anthropology, management, business, economics, medicine,
and other disciplines.
❖ HRD is implemented using techniques and methods. HRD procedures include performance evaluation,
training, management development, career planning and development, organizational development,
 counselling, social and religious programmes, employee involvement/worker participation, quality circles,
and other HRD approaches.
❖ Human resource development is critical in the manufacturing, service, and information technology
industries.

FUNCTIONS OF HUMAN RESOURCE DEVELOPMENT

Some of the most important functions of human resource development (HRD) include:
1. Evaluation of Performance:
The HRD's performance evaluation or merit-rating of employees is a critical duty. The HRD requires this in
order to assess the relative efficiency of various workers as evidenced by their job performance. Performance
appraisal, also known as merit-rating, is concerned with rating workers on their tasks, whereas job assessment is
concerned with rating the job to be done. HRD is responsible for analyzing and categorizing discrepancies
among workers in terms of job standards.

2. Employee Training:
The HRD's next task is to provide appropriate training to its employees or workers. Training is regarded as the
foundation of good human resource management. Training enhances an employee's knowledge and abilities to
perform a specific job. Personnel should be trained methodically and scientifically if they are to perform their
duties successfully and efficiently.

3. Leadership Development:
Another important role of HRD is to facilitate executive development within the organization. Executive
development is a programme that helps executives achieve their goals. The programme must be linked to the
development of various interconnected concerns, variables, and needs.

4. Career Development and Planning:

Career planning and development entails developing an organizational framework that allows employees to
improve and expand their careers from the time they begin working for the company until they retire.

5. Effective Planning and Development:

The HRD must also be capable of successfully planning and developing the business of the organization. To
achieve this goal, it must plan and improve all aspects of its organization.

6. Organizational Development and Change:

HRD also plays an important role in organizational transformation and growth. Organizational diagnosis, team
building, task force formation, and other structural and process interventions such as role development, job
enrichment, and work redesign are all part of this method.

7. Religious and social values:

Employees should be able to learn from one another, and the human resources director should plan social and
religious events. Employees can communicate with one another in a more intimate setting, open their minds,
and discuss their abilities thanks to such programmes.
8. Participation in Quality Circles:
A Quality Circle is a self-governing group of employees, with or without managers, who meet on a regular basis
to identify, analyze, and solve problems in their line of work. Workers may learn decision-making and problem-
solving skills from one another through this voluntary problem-solving process.

9. Encourage employee participation in management:

Employee participation in management enables representatives from management and workers to discuss and
exchange ideas and points of view during the organization's joint decision-making process. Making decisions
together allows for mutual learning and development. As a result, HRD managers should encourage employees
to participate in the management of the organization.

OUTCOMES OF HUMAN RESOURCE DEVELOPMENT

The following are some of the various outcomes that result from HRD approaches that improve human
processes:
✓ People in an organization become more competent as they become more aware of the skills required for job
performance on the one hand, and norms and standards on the other.
✓ When incentive administration becomes more objective, people become more committed to their jobs.
They come up with more innovative and distinct ideas.
✓ People have a better understanding of their responsibilities as a result of improved communication, as they
become more aware of the expectations that others in their role have of them.
✓ People develop a greater sense of trust and regard for one another. They become more honest and
transparent in their actions.

MANPOWER PLANNING
WHAT IS MANPOWER PLANNING?
The definition of manpower planning is straightforward and simple. "It entails assigning the right people to the
right jobs at the right time." The essence is to collaborate or work alone to achieve the organization's goals."
Human resource planning is another name for manpower planning. Another meaning of this term is
estimating the number of people required to complete specific tasks within a given time frame.

WHAT ARE THE STEPS IN MANPOWER PLANNING?

Human resource planning entails several steps that are critical to the process. Understanding the various phases
will help the company in the long run.
1. Assessment of Current Human Resource Strength
In this case, the manager must first assess the current state of human resources before making any future
projections. Before making a prediction, the manager must first understand the following situations through an
inventory.
❖ The type of company.
❖ The number of departments in the company.
❖ Each department's workforce or employees.
However, until the manager has answers to these questions, he or she may be unable to make long-term plans
for the company's human resource needs.

2. Determining the Firm's Future Human Resource Requirements

First and foremost, the manager must identify the factors influencing human resource planning. These include
the type of company, the number of departments, the number of employees in each unit, and so on.
Once these variables are identified, the manager can use effective human resource forecasting techniques to
meet the organization's workforce requirements.
Here are a few examples of the techniques in question:
➢ Expert forecasting- Entails using the Delphi technique, conducting a formal expert survey, and making
informal decisions.
➢ Analysis of Trends –In this case, the manager can forecast the company's future manpower requirements
based on previous projections and statistical analysis.
➢ Workload Analysis – This human resource planning technique is based on the overall workload of a
department or organization.
➢ Workforce Analysis – When a company wants to meet a certain level of output in a certain amount of time,
the manpower requirements must be thoroughly examined. The outcome will assist the manager in making
the best decision regarding the firm's or a department's manpower requirements.
➢ Using Mathematical Models – Another method involves the use of specific software packages or other
means to forecast a company's manpower needs. New venture analysis, regression, budget, and planning
analysis are examples of these.
3. The Recruitment and Selection Process
After the manager has successfully determined the firm's future manpower needs, the next step is to develop a
recruitment, selection, and employee placement process to meet those needs.
4. Employee Training Programs
Employees will not only be hired, but they will also be adequately trained to perform at their best. They will
also learn the necessary skills for the job.

IMPORTANCE OF MANPOWER PLANNING

These are some of the reasons why manpower planning should be taken seriously in every business.
❖ Aids in Productivity Improvement
The goal of starting a business is to make a profit. With this in mind, many companies hire and train their
employees to perform optimally in various positions through an effective manpower planning process.
The point here is that manpower planning allows an organization to not only hire the necessary staff but also
provide adequate training to improve their job skills. Another reason for increased productivity is that the
company will no longer waste time, money, and other resources.
❖ Lower Labour Spending
Firms can cut labour costs by increasing productivity through effective manpower planning. Of course, when
employees with the necessary skills are hired, jobs will be handled efficiently.
❖ A Successful Recruitment Process
The manager or firm in question will be able to analyze and determine the firm's future human resources needs
through manpower planning. The implication is that highly talented employees will be hired and equipped with
the necessary job skills.
❖ Enhanced Motivation
Incentives that motivate employees to perform at their best will be incorporated into staffing plans through
effective human resource planning. And, with the right motivation, employees are more likely to give their all to
achieve the organization's goal.

NEED FOR MANPOWER PLANNING

Manpower planning entails more than just meeting a company's current human resource requirements. It also
includes considering future human resource requirements. Human resource planning, on the other hand, is
required.
- It helps to ensure that the necessary human resources are always available for the business's growth and
expansion.

- Allows businesses to recognize the importance of human capital in the success of their operations.

- It assists in addressing high labour costs by identifying situations such as overstaffing and understaffing.

PERFORMANCE APPRAISAL SYSTEM

WHAT IS A PERFORMANCE APPRAISAL?
A performance appraisal is a periodic evaluation of an employee's job performance as measured by the
organization's competency expectations.
Performance evaluations frequently include both core competencies required by the organization and
competencies specific to the employee's job.
Based on the assessment, the appraiser, who is usually a supervisor or manager, will provide the employee with
constructive, actionable feedback. This gives the employee the direction they need to improve and develop in
their job.
A performance appraisal, depending on the type of feedback, is also an opportunity for the organization to
recognize employee achievements and future potential.

THE PURPOSE OF A PERFORMANCE APPRAISAL

A performance appraisal serves two purposes: it assists the organization in determining the value and
productivity that employees contribute, and it also assists employees in developing in their own roles.

Advantage for the organization

Employee evaluations can have a significant impact on an organization's performance. They give organizations
insight into how employees contribute and allow them to:
▪ Determine where management can improve working conditions to boost productivity and work quality
▪ Address behavioural issues before they have a negative impact on departmental productivity.
▪ Recognize employees' talents and skills to encourage them to contribute more.
▪ Assist employees with their skill and career development.
▪ Improve strategic decision-making in situations requiring layoffs, succession planning, or internal filling of
open roles.
Employee Advantage
Employees are expected to benefit from performance evaluations. The knowledge gained from evaluating and
discussing an employee's performance can be used to:
• Recognize and acknowledge an employee's accomplishments and contributions.
• Recognize the possibility of a promotion or bonus.
• Identify and support the need for additional training or education to advance your career.
• Determine the specific areas where you can improve your skills.
• Motivate an employee by making them feel involved and invested in their professional development.
• Discuss an employee's long-term objectives.

THE PERFORMANCE APPRAISAL PROCESS:

• Human Resources typically facilitates the assessment process by assisting managers and supervisors in
conducting individual appraisals within their departments.
• A method of evaluation should be developed.
• Each employee's required competencies and job expectations must be written down.
• Employee performance is evaluated on an individual basis.
• A one-on-one interview between the manager and the employee is planned to discuss the review.
• Future objectives should be discussed between the employee and the manager.
• The performance review is archived in a signed-off version.
• Human resources use appraisal information for appropriate organizational purposes such as reporting,
promotions, bonuses, and succession planning.

PERFORMANCE APPRAISAL METHODS

Many organizations prefer the following common and modern appraisal methods:
1. Self-evaluation
Employees conduct their own performance evaluation against a set list of criteria in a self-evaluation
assessment.
The method has the advantage of assisting employees in preparing for their own performance evaluations and
encouraging more dialogue in the official performance interview.
The disadvantage is that the process is subjective, and employees may struggle with rating themselves too high
or too low.
2. Behavioral Checklist
A Yes or No checklist is provided for a number of characteristics. A YES is checked if the supervisor believes
the employee has exhibited a trait.
If they believe the employee has not demonstrated the trait, a NO is given. If they are unsure, leave it blank.
The format's simplicity and emphasis on actual work-related tasks and behaviours are advantages (i.e., no
generalizing).
The disadvantage is that there is no detailed analysis or detail on how the employee is actually doing, nor does it
discuss goals.
3. 360-degree feedback
This type of review takes into account not only direct feedback from the manager and employee, but also
feedback from other team members and sources.
Character and leadership abilities are also evaluated.
The advantage is that it provides a more comprehensive picture of an employee's performance.
The disadvantage is that it risks accepting broad generalizations from outside sources who may not know how
to provide constructive feedback.
4. Scale of evaluation
A rating scale is a common method of evaluation. It employs a set of pre-determined criteria against which a
manager evaluates an employee.
Each set of criteria is weighted so that at the end of the review, a measured score can be calculated.
The method has the advantage of being able to consider a wide range of criteria, from specific job tasks to
behavioural traits. The weighting system allows the results to be balanced as well. This means that if an
employee is weak in a minor area, it will not have a negative impact on their overall score.
The disadvantage of this method is the potential for misunderstanding of what constitutes a good and poor
result; managers must be aware of this.
5. Goal-oriented management
This is a relatively newer method that is gaining traction. It entails the employee and manager reaching an
agreement on a set of attainable performance goals that the employee will strive to achieve over a specified time
period.
The goals and how they have been met are reviewed at the next review period, and new goals are created.
The advantage of this method is that it fosters communication between employees and employers and is
empowering in terms of personal career development.
The disadvantage is that it risks overlooking important organizational performance competencies.
FLOW CHART OF PERFORMANCE APPRAISAL SYSTEM IN MINDA

Preparation of performance appraisal forms by Human Resource Development department (showing all major
tasks)

Sending these forms to the heads of respective departments

Joint settlement of key tasks/result areas through discussions between concerned HOD and respective
subordinate

Reviewal of performance by appraiser (how well it is achieved and what are the short comings)

Counselling by appraiser and filling up development needs of the appraisee

Reviewal of the performance appraisal form by the reviewer (one up in hierarchy)

Sending duly filled in forms to Human Resource Development Department

Checking of forms and deciding any addition/deletion in the major task for the next quarter in consultation with
HOD

REWARDS SYSTEM
1. Employee Suggestion Program
The company's suggestion scheme is well defined and documented. The goal of the suggestion scheme is to use
employees' talents for the development of the organization as well as the development of the employee.
The Kaizen scheme is also in use in the company under TPM policy.
2. Unit of Attendance Reward
Every year, the unit head awards the best attendance award to employees based on their attendance in the
previous calendar year.
3. Safety Award Program
The company uses this award scheme to keep employee safety awareness in high gear.
1) Award for best safety essay
2) Award for best safety slogan
3) Award for best safety poster
FINANCIAL HIGHLIGHTS
MINDA INDUSTRIES LTD. CONSOLIDATED INCOME STATEMENT
------------ Figures in cr. (₹) -----------
Mar 22 Mar 21 Mar 20 Mar 19
12 mths 12 mths 12 mths 12 mths
INCOME
Revenue From Operations [Gross] 8,313.00 6,283.35 5,401.17 5,853.29
Less: Excise/Service Tax/Other Levies 0.00 0.00 0.00 0.00
Revenue From Operations [Net] 8,313.00 6,283.35 5,401.17 5,853.29
Other Operating Revenues 0.00 90.39 63.97 54.80
Total Operating Revenues 8,313.00 6,373.74 5,465.14 5,908.09
Other Income 62.94 47.03 39.25 27.03
Total Revenue 8,375.94 6,420.77 5,504.39 5,935.12
EXPENSES
Cost Of Materials Consumed 4,347.89 3,456.43 2,693.26 3,100.03
Purchase Of Stock-In Trade 1,005.31 528.76 605.06 558.72
Changes In Inventories Of FG, WIP And
Stock-In Trade -81.20 -65.90 -14.18 -36.27
Employee Benefit Expenses 1,206.51 981.69 846.77 791.29
Finance Costs 62.32 73.65 90.21 63.15
Depreciation And Amortization Expenses 391.75 375.30 301.90 234.38
Other Expenses 949.10 747.77 715.06 769.14
Total Expenses 7,881.68 6,097.70 5,238.08 5,480.44
Profit/Loss Before Exceptional,
Extraordinary Items and Tax 494.26 323.07 266.31 454.68
Exceptional Items 0.00 1.73 -14.07 0.00
Profit/Loss Before Tax 494.26 324.80 252.24 454.68
Tax Expenses-Continued Operations
Current Tax 146.78 98.29 88.66 115.47
Deferred Tax 0.00 2.24 -11.16 18.60
Total Tax Expenses 146.78 100.53 77.50 134.07
Profit/Loss After Tax and Before
Extraordinary Items 347.48 224.27 174.74 320.61
Profit/Loss from Continuing
Operations 347.48 224.27 174.74 320.61
Profit/Loss For The Period 347.48 224.27 174.74 320.61
Minority Interest -57.34 -41.81 -32.76 -53.86
Share Of Profit/Loss Of Associates 65.16 24.17 12.97 18.87
Consolidated Profit/Loss After MI And
Associates 355.30 206.63 154.95 285.62
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.) 13.00 8.00 6.00 11.00
Diluted EPS (Rs.) 13.00 7.00 6.00 11.00
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 0 9.52 10.49 25.78
Tax On Dividend 0 0 5.42 5.1
MINDA INDUSTRIES LTD. CONSOLIDATED BALANCE SHEET
------------ Figures in cr. (₹) ---------

Mar 22 Mar 21 Mar 20 Mar 19

12 mths 12 mths 12 mths 12 mths
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 57.12 54.39 52.44 52.44
Total Share Capital 57.12 54.39 52.44 52.44
Reserves and Surplus 3,381.33 2,193.38 1,755.53 1,645.17
Total Reserves and Surplus 3,381.33 2,193.38 1,755.53 1,645.17
Total Shareholders’ Funds 3,438.45 2,250.02 1,809.17 1,697.61
Minority Interest 326.30 306.45 282.84 266.71
NON-CURRENT LIABILITIES
Long Term Borrowings 374.70 539.12 780.33 606.34
Deferred Tax Liabilities [Net] 62.44 29.93 13.53 0.62
Other Long-Term Liabilities 202.47 180.12 173.07 75.58
Long Term Provisions 85.10 135.07 117.45 99.64
Total Non-Current Liabilities 724.71 884.24 1,084.38 782.18
CURRENT LIABILITIES
Short Term Borrowings 441.18 313.78 217.14 349.15
Trade Payables 1,411.68 1,289.79 962.79 797.82
Other Current Liabilities 424.88 887.56 443.59 309.05
Short Term Provisions 64.49 39.04 32.39 21.56
Total Current Liabilities 2,342.23 2,530.17 1,655.91 1,477.58
Total Capital and Liabilities 6,831.69 5,977.43 4,838.85 4,230.63
ASSETS
NON-CURRENT ASSETS
Tangible Assets 2,867.17 2,225.58 1,779.18 1,629.40
Intangible Assets 0.00 289.47 214.72 66.84
Capital Work-In-Progress 0.00 111.94 337.05 131.52
Fixed Assets 2,867.17 2,649.35 2,350.95 1,846.37
Non-Current Investments 594.62 528.61 372.16 355.58
Deferred Tax Assets [Net] 33.82 0.00 0.00 0.00
Long Term Loans and Advances 0.00 27.26 13.34 21.21
Other Non-Current Assets 96.12 69.14 103.39 109.81
Total Non-Current Assets 3,875.76 3,556.08 3,041.90 2,497.89
CURRENT ASSETS
Current Investments 12.09 1.56 0.00 0.00
Inventories 1,046.43 750.56 555.26 560.97
Trade Receivables 1,376.65 1,198.82 726.41 899.22
Cash And Cash Equivalents 234.20 238.18 327.84 110.06
Short Term Loans and Advances 0.00 2.94 5.70 2.01
Other Current Assets 286.56 229.29 181.74 160.48
Total Current Assets 2,955.93 2,421.35 1,796.95 1,732.74
Total Assets 6,831.69 5,977.43 4,838.85 4,230.63
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 0.00 374.44 511.66 701.65
BONUS DETAILS
Bonus Equity Share Capital 0.00 42.45 40.50 40.50
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market Value 0.00 0.00 0.00 0.00
Non-Current Investments Unquoted Book Value 0.00 528.61 372.16 355.58
CURRENT INVESTMENTS
Current Investments Quoted Market Value 0.00 0.00 0.00 0.00
Current Investments Unquoted Book Value 0.00 0.00 0.00 0.00

MINDA INDUSTRIES LTD. CONSOLIDATED CASH FLOW STATEMENT

------------ Figures in cr. (₹) ---------

Mar' 22 Mar '21 Mar '20 Mar '19

12 mths 12 mths 12 mths 12 mths
Net Profit Before Tax 494.26 324.80 252.24 454.68
Net Cash from Operating Activities 382.88 342.71 965.11 413.97
Net Cash (used in)/from Investing Activities (698.65) (360.97) (764.89) 825.47)
Net Cash (used in)/from Financing Activities 311.00 (40.24) (67.37) 368.48
Net (decrease)/increase In Cash and Cash Equivalents (4.77) (58.06) 135.63 (42.22)
Opening Cash & Cash Equivalents 205.61 263.67 115.35 134.99
Closing Cash & Cash Equivalents 202.27 205.61 250.98 92.77

MINDA INDUSTRIES LTD. RATIO ANALYSIS

------------ Figures in cr. (₹) ---------

MAR'22 MAR'21 MAR'20 MAR'19

PER SHARE RATIOS
Basic EPS (Rs.) 6.97 4.45 4.08 7.17
Diluted EPS (Rs.) 6.94 4.27 4.08 7.17
Cash EPS (Rs.) 13.53 10.91 9.32 11.06
Book Value [ExclRevalReserve]/Share (Rs.) 93 60.35 49.91 47.13
Book Value [ExclRevalReserve]/Share (Rs.) 93 60.35 49.91 47.13
Dividend / Share (Rs.) 1.5 0.85 0.4 1.1
Revenue from Operations/Share (Rs.) 173.66 136.08 121.09 133.22
PBDIT/Share (Rs.) 17.92 14.48 13.21 14.63
PBIT/Share (Rs.) 11.25 7.94 7.97 10.73
PBT/Share (Rs.) 9.18 6.16 5.36 9.61
Net Profit/Share (Rs.) 6.86 4.38 4.08 7.16
PROFITABILITY RATIOS
PBDIT Margin (%) 10.31 10.64 10.9 10.98
PBIT Margin (%) 6.47 5.83 6.57 8.05
PBT Margin (%) 5.28 4.52 4.42 7.21
Net Profit Margin (%) 3.95 3.21 3.37 5.37
Return on Net worth / Equity (%) 7.38 7.24 8.18 15.19
Return on Capital Employed (%) 11.24 10.42 10.97 17.09
 Return on Assets (%) 4.6 3.12 3.73 7.49
Total Debt/Equity (X) 0.13 0.31 0.46 0.43
Asset Turnover Ratio (%) 116.52 97.32 110.77 139.47
LIQUIDITY RATIOS
Current Ratio (X) 1.14 0.73 1.01 1.06
Quick Ratio (X) 0.8 0.52 0.75 0.76
Inventory Turnover Ratio (X) 10.51 10.01 12.35 13.87
Dividend Payout Ratio (NP) (%) 0 8 9.79 6.28
Dividend Payout Ratio (CP) (%) 0 3.2 4.29 4.06
Earnings Retention Ratio (%) 0 92 90.21 93.72
Cash Earnings Retention Ratio (%) 0 96.8 95.71 95.94
VALUATION RATIOS
Enterprise Value (Cr.) 26906.6 15182.7 6728.8 9054.72
EV/Net Operating Revenue (X) 5.43 4.1 2.12 2.59
EV/EBITDA (X) 52.58 38.55 19.43 23.6
Market Cap/Net Operating Revenue (X) 5.37 3.99 1.97 2.45
Retention Ratios (%) 0 91.99 90.2 93.71
Price/BV (X) 10.03 8.99 4.79 6.93
Price/Net Operating Revenue 5.37 3.99 1.97 2.45
Earnings Yield 0.01 0.01 0.02 0.02

FUTURE PLANS FOR GROWTH

Following the continued rise in demand from vehicle manufacturers, Uno Minda has planned a capital
expenditure (capex) of around 400 crores for the coming fiscal year.
According to a top Uno Minda official, at least four new factories will open next year to serve two-wheeler and
four-wheeler companies. The group is expected to close FY22 with a capex spend of 700 crores, which includes
spending on the new factory.
Sunil Bohra, Group Chief Finance Officer and Group Chief Procurement, stated, "For this year, we announced
growth capex, which is green field expansion of four new plants." We are constructing a four-wheeler lighting
plant in Gujarat, a new moulding plant in Bengaluru, expanding alloy wheel capacity, and increasing two-
wheeler alloy wheel capacity from 4 million to 6 million wheels per year."
In addition, a capex of 300-400 crore for sustaining-cum-brown field growth capex for the current year,
bringing the total capex for the year to 600-700 crore.

ADVANTAGES AND DISADVANTAGES OF THE ORGANIZATION

STRUCTURE
ADVANTAGES OF ORGANIZATION STRUCTURE:
The following are the benefits of having a well-designed organizational structure:
1. Individual and group activities will become more rational, stable, and predictable.
2. The result will be an orderly hierarchy in which people are related in a meaningful sequence. Individual
accountability will be clearly defined, as will the authority to act.
3. Individuals will be chosen based on their ability to complete expected tasks. Job assignment can be simplified
and specialized in a more efficient manner.
4. Clear directional and operational goals and procedures will be established, with resources devoted to their
achievement.
5. Available resources will be used as efficiently as possible.
6. Because patronage and favouritism are reduced in such an organization, the treatment of individual workers
may become more democratic.
7. Employees will benefit from planned superior-subordinate relationships in which each task receives critical
support and direction.

DISADVANTAGES OF ORGANIZATION STRUCTURE:

The following are the disadvantages of having an organizational structure:
1. The rather rigid assignment of duties and responsibilities may stifle individual creativity and originality.
2. Employees may become less willing to take on responsibilities that are not formally part of their original
assignment.
3. Fixed relationships and lines of authority appear rigid and difficult to adjust to changing needs.
4. They cause anxiety in individual workers by putting too much emphasis on routine and conformity.
5. It becomes prohibitively expensive in terms of time and human dignity to implement organizational rules and
regulations.
6. Strict adherence to formal lines of communication can slow or stop inter-personal communication.
7 Organizations frequently fail to take into account significant differences in employees as human beings.

These disadvantages can be mitigated by careful planning and supervisory efforts to respond to human
problems caused by formal organizational structures.

RECOMMENDATIONS FOR IMPROVING AN ORGANIZATION'S

STRUCTURE
A properly structured organization can make more efficient decisions and adapt to changes in the business
world much more easily. A muddled structure, or one that creates bottlenecks in the decision-making process,
can be counterproductive and reduce revenue.
➢ Make it clear
When it comes to improving a company's structure, it is critical to communicate the proper flow of information
to all employees. Develop and distribute departmental hierarchy flow charts to everyone so that everyone
understands the managers and their responsibilities. When the company develops a decision-making process,
ensure that it is understood by the entire organization and, if necessary, hold work flow training classes.
Communication is one of the most powerful tools an organization has at its disposal, and communication about
the flow of information and the structure of the company can help to reduce confusion and streamline the
process.
➢ Use Management to Your Advantage
Decisions for a company are usually reserved for the company's executives. Middle managers should support
the company's decisions rather than trying to dictate anything to employees. When managers are given a task,
they should pool the resources needed to assist their employees in completing the task. An effective manager
should act as a liaison between employees and executives, as well as a facilitator who is assigned a task to
complete.
➢ Set up checks
It is one thing to establish an efficient flow of information; it is quite another to ensure that the information is
properly received and instructions are followed. It is critical to include a feedback section and a progress check
when implementing a work flow plan. Avoid developing systems that assign blame to a single group or
individual, instead focusing on improving the structure that broke down and caused the problem in the first
place. A continuous system of checks and feedback can help to ensure that the corporate structure is functioning
properly and that all information is received.

MODIFICATIONS TO ORGANIZATION STRUCTURE

1. Plan a structure:
In attempt to change organizational structure, you must first plan a structure, as you will be unable to proceed
without one.
Any change requires the creation of a base or foundation for the next change. No one will be ready to adapt to
the new change unless you build a strong foundation.

2. Arrange a meeting:
Arrange a meeting with the employees and other members of the company's upper hierarchy to discuss the
organizational structure change you want.
You can expect feedback from them after explaining the situation, and you will be appreciated if your plan is
worth following.

3. Teamwork is required:
This type of work necessitates teamwork, and in order to form a team, you must work collaboratively with all
employees. It is not easy to change the entire structure of an organization by yourself.
It is one of the most important decisions a company can make. Taking such a step also necessitates considerable
effort.

4. Provide a brief explanation of the policies:

You must explain the policies and rules being developed for such a significant change. It is not only necessary
to develop policies and norms, but it is also necessary to explain the benefits of such policies.
Your desired change will not be accepted by the rest of the company members unless you discuss the benefits of
the change.
As a result, you will need to explain the effects of the change on the employees as well as the company as a
whole.

5. Use positive language:

When explaining the entire process, make sure to use positive and very good language for the purpose, or you
may face rejection.
Positive language will persuade employees and ensure the success of your plan
6. Outline the positive aspects:
Just as every day has a night and every night has a day, every plan has a number of advantages and a number of
disadvantages.
However, you must avoid the negative aspects while emphasizing the positive.

7. Demonstrate it:
You will be considered true only when some result is shown to the employees, so you must demonstrate any
good examples.
Instead of just saying, you'll have to do here. Your verbal conversations and written plans should become
reality, so that the company and organization can see the reaction and action of the plan.
REFERENCES

https://www.unominda.com/
https://www.business-standard.com/company/minda-industries-12295/information/company-history
https://www.thehindubusinessline.com/companies/uno-minda-lines-up-400-crore-capex-may-increase-airbag-
output/article65203620.ece
https://bizfluent.com/way-5207414-recommendations-improving-organization-s-structure.html
https://www.yourarticlelibrary.com/office-management/organisation-structure/organization-structure-nature-
advantages-and-demerits/70249
https://pdfeducation.com/functions-of-various-departments-in-an-organization/
https://www.moneycontrol.com/financials/mindaindustries/consolidated-balance-sheetVI/MI4#MI4
https://www.moneycontrol.com/financials/mindaindustries/profit-lossVI/MI4#MI4
https://www.moneycontrol.com/financials/mindaindustries/cash-flowVI/MI4#MI4
https://www.moneycontrol.com/financials/mindaindustries/ratiosVI/MI4#MI4