Vardhaman Profile.docx

VARDHAMAN PROFILE

Vardhman Group is a leading textile conglomerate in India having a turnover of $700 mn. Spanning over 24 manufacturing facilities in five states across India, the Group business portfolio includes Yarn, Greige and Processed Fabric, Sewing Thread, Acrylic Fibre and Alloy Steel. Vardhman Group manufacturing facilities include over 8,00,000 spindles, 65 tons per day yarn and fibre dyeing, 900 shuttleless looms, 90 mn meters per annum processed fabric, 33 tons per day sewing thread, 18000 metric tons per annum acrylic fibre and 100,000 tons per annum special and alloy steel. Vardhman has evolved through history from a small beginning in 1965 into a modern textile major under the dynamic leadership of its chairman, S.P.Oswal. His vision and insight has given Vardhman an enviable position in the textile industry. Under his leadership, Vardhman is efficiently using resources to innovate, diversify, integrate and build its diverse operations into a dynamic modern enterprise

MISSION Vardhman aims to be world class textile organization producing diverse range of products for the global textile market. Vardhman seeks to achieve customer delight through excellence in manufacturing and customer service based on creative combination of state-of-the-art technology and human resources. Vardhman is committed to be responsible corporate citizen.

VISION

“To be globally recognized as a Leading Supplier of Quality Fabrics”

Yarns Yarn Manufacturing is the major activity of the group accounting for 47 percent of the group turnover. Vardhman is virtually a supermarket of yarns, producing the widest range of cotton, 13 synthetics and blended, Grey and Dyed yarns and Hand Knitting Yarns, in which Vardhman is the market leader in India. The group has twenty one production plants with a total capacity of over 8 lacs spindles, spread all over the country. In many of the yarn market segments, Vardhman holds the largest market share.

Vardhman is also the largest exporters of yarn from India, exporting yarns worth more than USD 150 million. Sewing Thread Vardhman is the second largest producer of sewing thread in the country. The sewing thread manufacturing capacity is being expanded from 17 tons per day to 33 tons per day in its sewing thread plants located at Hoshiarpur, Baddi and Ludhiana. Sewing threads contributes 11 percent of the group turnover. Fabrics the group has created state-of-the-art fabric weaving and processing facilities in its plant at Baddi, Northern India. The group has installed 900 shuttle less looms and a fabric processing capacity of 90 million meters per annum in collaboration of Tokai Senko of Japan. Fabrics business contributes 22 percent to the group turnover Fibre The group has set up an Acrylic Staple Fibre plant at Bharuch in Gujarat in collaboration with Marubeni and Japan Exlan of Japan. The plant has annual capacity of 18000 tons per annum. Fibre contributes 8 percent to the total turnover of the group. 14 Steel The Group is also present in upper-end of the steel industry. The group has manufacturing capacity of 100000 tons of special and alloy steel. The group supplies its steel products to some of the most stringent quality steel buyers like Maruti and Telco. It contributes 10 percent to the total turnover of the group.

Data Collection Methodology Secondary Data The data used in the research was the secondary data. As last year’s and current year’s

files were provided through which all the research part was done. An extensive research over the internet helped in obtaining appreciatively relevant information on the market for Vardhman group of companies and for the market scenario of finance and the insurance. 5.3 Study type The study begins with secondary data of the companies records in the exploratory phase, followed by the company’s profile, insurance types, in depth knowledge about the insurance, the procedures, the claims procedures and cover note.

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