KES SHROFF COLLEGE OF ARTS AND COMMERCE

NAAC Accredited A Grade (CGPA 3.16) and ISO 9001:2008 Certified

PROJECT REPORT ON

Research on Just Dial

SUBMITTED BY

Krushal. N. Joshi
M.Com. PART-2 (ACCOUNTANCY)

SUBMITTED TO
UNIVERSITY OF MUMBAI

PROJECT GUIDE

Dr. Bharat Pithadia

ACADEMIC YEAR
2015 2016

KANDIVLI EDUCATION SOCIETYS

B.K. Shroff College of Arts

&
M.H. Shroff College of Commerce
Bhulabhai Desai Road, Kandivli (West), Mumbai 400067
NAAC Accredited A Grade(CGPA 3.16) and ISO 9001:2008 Certified

PROJECT REPORT

RESEARCH ON JUST DIAL

SUBMITTED BY
KRUSHAL .N. JOSHI

MASTER IN COMMERCE PART-2 (ACCOUNTANCY)

SUBMITTED TO
UNIVERSITY OF MUMBAI

PROJECT GUIDE
NAME OF THE GUIDE

Dr. Bharat Pithadia

ACADEMIC YEAR
2015 2016

KANDIVLI EDUCATION SOCIETYS

B.K. Shroff College of Arts

&
M.H. Shroff College of Commerce
Bhulabhai Desai Road, Kandivli (West), Mumbai 400067
NAAC Accredited A Grade(CGPA 3.16) and ISO 9001:2008 Certified

CERTIFICATE
This is to certify KRUSHAL .N. JOSHI of M.Com. PART-2
(ACCOUNTANCY) has successfully completed a project on RESEARCH ON
JUST DIAL under the guidance of Dr. Bharat Pithadia during the academic year
2015-16.

Co-ordinator

Project Guide

Internal Examiner

Principal

External Examiner

College Seal

DECLARATION

I MR. KRUSHAL .N. JOSHI of K.E.S. SHROFF COLLEGE OF ARTS &

COMMERCE, student of M.BCOM PART-I (ACCOUNTANCY), hereby
declare that I have completed my project title RESEARCH ON JUST
DIAL
I also declare that this project which has been the partial fulfillment
of the requirement of the degree of M.COM PART- 2 (ACCOUTANCY)
of the Mumbai University has been the result of my efforts.
Signature of Student
_________________

ACKNOWLEDGEMENT

I have sincerely done my project allotted to me. I would like to thank the guide for
giving her valuable suggestion and guidance.
I would also like to thank our Principal Dr. LILY BHUSHAN and our vice
Principal Mr. V.S.Kannan.
It gives me immense pleasure to present this project in the course of master in
accountancy, and I also would like to share the credit with Dr. Bharat Pithadia for
her valuable, helps in this project. I would like to thank all those people who gave
me their opinion without their help this project would not be possible to submit in
time.

Chp. 1.

INTRODUCTION

Q.1 Define research? What are the characteristics of research?

Research comprises "creative work undertaken on a systematic basis in order to increase the
stock of knowledge, including knowledge of humans, culture and society, and the use of this
stock of knowledge to devise new applications."[1] It is used to establish or confirm facts,
reaffirm the results of previous work, solve new or existing problems, support theorems, or
develop new theories. A research project may also be an expansion on past work in the field. To
test the validity of instruments, procedures, or experiments, research may replicate elements of
prior projects, or the project as a whole. The primary purposes of basic research (as opposed
to applied

research)

are documentation, discovery, interpretation,

or

theresearch

and

development (R&D) of methods and systems for the advancement of human knowledge.
Approaches to research depend on epistemologies, which vary considerably both within and
between humanities and sciences.
There are several forms of
Research: scientific, humanities, artistic, economic, social, business,marketing, practitioner
research, etc.
Definition by: Willam C. Emorg
Research is an organized enquiry designed and carried out to provide information for solving
problems
V. Clover and H. Balsley
Research is the process of systematically obtaining accurate answer to significant and pertinent
question by the use of scientific method for gathering and interpreting information

The characteristics of research are a process of collecting, analyzing and interpreting information
to answer questions. But to qualify as research, the process must have certain characteristics:
1. Develops principles: - By conducting different program in research process comes out with
conclusion and by verifying in all the possible meaner which results in developing principle.
Such principles can be useful to several organizations to manage and deal with people and
things in a better way.
2. Use scientific methods: - scientific method can be defined as the method which consists of
the systematic observation, classification and the interpretation of the data the main
difference between our day to day generalization and the conclusions usually recognized as a
scientific method lie in the degree of the formality, rigorousness, verifiability and the general
validity of the later
3. Maintain objectivity: - Research process is an systematic and planed it has very clear view
for what purpose research is conducted the core objective behind conducting the research so
it maintain its objective.
4. Answer to question: - Research must be scrupulous in ensuring that the procedures followed to find
answers to questions are relevant, appropriate and justified. Again, the degree of rigor varies
markedly between the physical and social sciences and within the social sciences.

5. Objective and logical: - The scientific research is objective and logical in nature. Research is
based on valid procedures and principles, there is need to collect relevant ,accurate and
objective data to investigate into research problems.
6. Different methods: - In research there are various way and with different condition on which
research is done, there are different methods like Quantitative research, specific research
qualitative research experimental research such different methods are adopted for research.
7. Verifiable: - verifiable-this concept implies that whatever you conclude on the basis of your findings
is correct and can be verified by you and others.

8. Generalization: - Research finding can be applied to larger population. A researcher can

conduct a research on a sample of respondents that represent the universe. The research
finding is based on sample population can then be generalized and applied to the whole
population
9. Accuracy: - accuracy is also the degree to which each research process, instrument and tool is
related to each other. Accuracy also measure whether research tools have been selected is
best possible manner and research procedures problems or not.
10. Replicability: -. The research design and procedures are replicated or repeated to enable the
researcher to arrive at valid and conclusive results.

Q.2 Explain the needs and importance of research in business?

A business research program is surely a preferred way for businesses to train and educate their
managers and other staff members in a vast array of different fields. Business research can relate
to economics, business strategy and ethics, in fact, anything associated with modern business and
trade. Undertaking research in business management is important since it aids a business plan for
the future, based on what may have occurred in earlier times. If performed effectively it can help
an organization to make plans on how to become more viable in its field
Business research tests the possible success of fresh products. Businesses need to know what
kinds of services and products consumers want before they produce them. Research will reduce
risk Research can help design a new product or service, figuring out what is needed and ensure
that the development of a product is highly targeted towards demand. Guaranteeing adequate
distribution. Businesses can also use research to guarantee sufficient distribution of their
products. For instance, a consumer products company might want to speak with merchants about
the various brands they offer. The outcomes of the business research can help managers decide
where they need to increase their product distribution. In-house research is required for
professional and self-development of the workers through training and mentoring. Organisational
research and analysis would also be needed for assessment of performance management, process
reengineering, departmental assessment and well-being of staff members.

Importances of Business research are as follows,

1. Marketing: - Marketing research enables a firm to arrive at sound marketing mix decision
with respect to product, price, promotion and physical distribution. It also helps to take
product decisions, praising decision, promotion mix decision and place decision.

2. Market research: - Through market research, a business firm can identify the customer
requirements and therefore it is possible to develop new product or modify its product
according to customer requirement.
3. Costing: - Research in business helps a firm to reduce costs. The research may indicate the
areas where high costs are involved. It may be possible for the firm to cut down the cost in
certain areas; therefore cost reduction will be improve the overall efficiency of the
organization.
4. Material management: - Research helps to identify the waste of materials in production line
and can be reducing to greater extend, By market research its easy to analyses demand of
product and accordingly firm can take production decision.
5. Consumer relationship management: - research may help the firm to develop good relations
with its customer, especially the priority customers. Research can help the firm to collect
valuable inputs about the priority customers. Based on inputs firm can adopt various
customer relationship techniques.
6. Human resource: - Research help firm to frame effective HR plans and polices in respect of
Recruitment and selection, training to employee, Performance appraisal, promotion and
transfer.
7. Finance: - Research may undertake for efficient management of finance. Financial
management covers Sources of fund and Application of fund. Proper research may enable a
company to determine the best sources of fund and ensure proper application of funds for
working capital and fixed capital.
8. Business expansion: - with the help of marketing research inputs, the company can identify
the markets that have good demand and potential and also company can enter into new
markets.

Q.3 Discuss the need and importance of research in social science?

While the findings of social science research are victim to ideological spin, the role of social
science research in establishing conservative solutions to policy problems should not be
discredited. And while many social science researchers use research findings to promote liberal
public policies; understanding, supporting, and utilizing social science research does not have to
equate to big government solutions.

1. To enable government in making polices: - Research on social and public by government it

helps to modify polices with welfare of people and makes polices according to demand of
society interest.
2. Helps to solve social problems: - Social problems could be attributed to certain social
behavior of social issues and then it analyses the issue and solve that.
3. Social welfare: - Government organization can undertake social research to enhance social
welfare of the society. Research can help to design suitable package of measure to reduce
income inequalities, to reduce poverty and unemployment, to overcome the problems of
social evils such as drugs addictions abuse of alcohol, gambling, and so on.
4. Modifies social Behavior: - Social research studies social behavior. Social research collect
relevant data on social behavior, analyses it and recommendations are listed. Based on the
recommendations of social researchers, steps can be taken by the concerned authorities to
modify the societal behavior.
5. Helps to predict event: - Research can be undertaken to predict future events in the society
and their impact. Research may be undertake to find out incidence of poverty and its impact
on the society. Research may make the concerned authorities to take appropriate measures to
reduce the incidence and to reduce the negative impact of incidence.
6. To establish general laws and generalization: - Research finding can be applied to larger
population. A researcher can conduct a research on a sample of respondents that represent the
universe. The research finding is based on sample population can then be generalized and
applied to the whole population
7. To develop principles and theories: - by conducting social research the result of its may make
new principles and theories. By conducting different program in research process comes out
with conclusion and by verifying in all the possible meaner which results in developing

principle and theories. Such principles and theories can be use full to several organizations to
manage and deal with people and things in a better way.
8. To verifies and tests existing laws: - Social researchers after implementing laws and polices
they again take research program to check whether policies are effective and keeps on
verifying it.
Q.4 State and explain the objective of research
Formulating aims and objectives for your research studies helps sculpt and guide your work after
you've decided on a topic. While your aims give your research thematic and theoretic direction,
objectives give concrete steps on how to manifest those concepts and theories. A strong topic
begins with an area you're interested in researching, then focuses on a need, problem or
unexplored issue in that area, usually from a particular perspective or approach.
1.1 Aims
A research proposal's aims are statements that broadly point out what you hope to accomplish
and your desired outcomes from the research. Aims focus on long-term intended outcomes -your aspirations in reference to the research. They're typically not numbered in a research
proposal. Strong research proposals set out only two to three aims. Each aim may have several
objectives associated with it.
1.2 Objectives
Objectives lay out how you plan to accomplish your aims. While aims are broad in nature,
objectives are focused and practical. They tend to pinpoint your research's more immediate
effects. They include a list of practical steps and tasks you're going to take to meet your aims.
Objectives are typically numbered, so each one stands alone. Each objective must have a
concrete method set out. If you're having trouble developing this, writing out a research time-line
before defining your objectives may help.
1.3 What They Should Do

Both aims and objectives should be brief and concise. They must be interrelated. Each aim
should have one or more objectives describing how that aim should be met. Aims and objectives
should both be realistic goals and methods with respect to what resources you have available and
the scope of research. Don't choose something too broad, for instance, or that would take much
more research time than you have. Aims and objectives also let your advisers know how you
intend to approach a given subject and how you plan to get access to subjects, goods and
services, samplings and other resources. They also provide plans for dealing with ethical or
practical problems you may encounter.
1.4 Things to Avoid
When you're writing your aims and objectives, don't make them too broad or vague. Aims are
more general than objectives, they shouldn't be over-optimistic or unrealistic about what you
want to achieve. They shouldn't repeat each other or be simple lists of items related to your
research. Stay away from focusing content on your research site or job. Stick to the specific aims
and objectives of your actual research study. Check that your aims and objectives contain
methods that can sustain what you hope to find. If they don't match, rethink the methods or aims
and objectives of your research.

Q.5 Discuss the types of research

1.5 Quantitative research
Quantitative research is generally associated with the positivist/postpositivist paradigm. It
usually involves collecting and converting data into numerical form so that statistical
calculations can be made and conclusions drawn.
1.5.1

The process

Researchers will have one or more hypotheses. These are the questions that they want to address
which include predictions about possible relationships between the things they want to
investigate(variables). In order to find answers to these questions, the researchers will also have

various instruments and materials (e.g. paper or computer tests, observation check lists etc.) and
a clearly defined plan of action.
Data is collected by various means following a strict procedure and prepared for statistical
analysis. Nowadays, this is carried out with the aid of sophisticated statistical computer
packages. The analysis enables the researchers to determine to what extent there is a relationship
between two or more variables. This could be a simple association (e.g. people who exercise on a
daily basis have lower blood pressure) or a causal relationship (e.g. daily exercise actually leads
to lower blood pressure). Statistical analysis permits researchers to discover complex causal
relationships and to determine to what extent one variable influences another.
The results of statistical analyses are presented in journals in a standard way, the end result being
aP value. For people who are not familiar with scientific research jargon, the discussion sections
at the end of articles in peer reviewed journals usually describe the results of the study and
explain the implications of the findings in straightforward terms
1.5.2

Principles

Objectivity is very important in quantitative research. Consequently, researchers take great care
to avoid their own presence, behaviour or attitude affecting the results (e.g. by changing the
situation being studied or causing participants to behave differently). They also critically
examine their methods and conclusions for any possible bias.
Researchers go to great lengths to ensure that they are really measuring what they claim to be
measuring. For example, if the study is about whether background music has a positive impact
on restlessness in residents in a nursing home, the researchers must be clear about what kind of
music to include, the volume of the music, what they mean by restlessness, how to measure
restlessness and what is considered a positive impact. This must all be considered, prepared and
controlled in advance.
External factors, which might affect the results, must also be controlled for. In the above
example, it would be important to make sure that the introduction of the music was not
accompanied by other changes (e.g. the person who brings the CD player chatting with the

residents after the music session) as it might be the other factor which produces the results (i.e.
the social contact and not the music). Some possible contributing factors cannot always be ruled
out but should be acknowledged by the researchers.
The main emphasis of quantitative research is on deductive reasoning which tends to move from
the general to the specific. This is sometimes referred to as a top down approach. The validity of
conclusions is shown to be dependent on one or more premises (prior statements, findings or
conditions) being valid. Aristotles famous example of deductive reasoning was: All men are
mortal Socrates is a man Socrates is mortal. If the premises of an argument are inaccurate,
then the argument is inaccurate. This type of reasoning is often also associated with the fictitious
character Sherlock Holmes. However, most studies also include an element of inductive
reasoning at some stage of the research (see section on qualitative research for more details).
Researchers rarely have access to all the members of a particular group (e.g. all people with
dementia, carers or healthcare professionals). However, they are usually interested in being able
to make inferences from their study about these larger groups. For this reason, it is important that
the people involved in the study are a representative sample of the wider population/group.
However, the extent to which generalizations are possible depends to a certain extent on the
number of people involved in the study, how they were selected and whether they are
representative of the wider group. For example, generalizations about psychiatrists should be
based on a study involving psychiatrists and not one based on psychology students. In most
cases, random samples are preferred (so that each potential participant has an equal chance of
participating) but sometimes researchers might want to ensure that they include a certain number
of people with specific characteristics and this would not be possible using random sampling
methods. Generalizability of the results is not limited to groups of people but also to situations. It
is presumed that the results of a laboratory experiment reflect the real life situation which the
study seeks to clarify.
When looking at results, the P value is important. P stands for probability. It measures the
likelihood that a particular finding or observed difference is due to chance. The P value is
between 0 and 1. The closer the result is to 0, the less likely it is that the observed difference is

due to chance. The closer the result is to 1, the greater the likelihood that the finding is due to
chance (random variation) and that there is no difference between the groups/variables.
1.6 Qualitative research
Qualitative research is the approach usually associated with the social constructivist paradigm
which emphasises the socially constructed nature of reality. It is about recording, analysing and
attempting to uncover the deeper meaning and significance of human behaviour and experience,
including contradictory beliefs, behaviours and emotions. Researchers are interested in gaining a
rich and complex understanding of peoples experience and not in obtaining information which
can be generalized to other larger groups.
1.6.1

The process

The approach adopted by qualitative researchers tends to be inductive which means that they
develop a theory or look for a pattern of meaning on the basis of the data that they have
collected. This involves a move from the specific to the general and is sometimes called a
bottom-up approach. However, most research projects also involve a certain degree of deductive
reasoning (see section on quantitative research for more details).
Qualitative researchers do not base their research on pre-determined hypotheses. Nevertheless,
they clearly identify a problem or topic that they want to explore and may be guided by a
theoretical lens - a kind of overarching theory which provides a framework for their
investigation.
The approach to data collection and analysis is methodical but allows for greater flexibility than
in quantitative research. Data is collected in textual form on the basis of observation and
interaction with the participants e.g. through participant observation, in-depth interviews and
focus groups. It is not converted into numerical form and is not statistically analysed.
Data collection may be carried out in several stages rather than once and for all. The researchers
may even adapt the process mid-way, deciding to address additional issues or dropping questions
which are not appropriate on the basis of what they learn during the process. In some cases, the

10

researchers will interview or observe a set number of people. In other cases, the process of data
collection and analysis may continue until the researchers find that no new issues are emerging.
1.6.2

Principles

Researchers will tend to use methods which give participants a certain degree of freedom and
permit spontaneity rather than forcing them to select from a set of pre-determined responses (of
which none might be appropriate or accurately describe the participants thoughts, feelings,
attitudes or behaviour) and to try to create the right atmosphere to enable people to express
themselves. This may mean adopting a less formal and less rigid approach than that used in
quantitative research.
It is believed that people are constantly trying to attribute meaning to their experience. Therefore,
it would make no sense to limit the study to the researchers view or understanding of the
situation and expect to learn something new about the experience of the participants.
Consequently, the methods used may be more open-ended, less narrow and more exploratory
(particularly when very little is known about a particular subject). The researchers are free to go
beyond the initial response that the participant gives and to ask why, how, in what way etc. In
this way, subsequent questions can be tailored to the responses just given.
Qualitative research often involves a smaller number of participants. This may be because the
methods used such as in-depth interviews are time and labour intensive but also because a large
number of people are not needed for the purposes of statistical analysis or to make
generalizations from the results.
The smaller number of people typically involved in qualitative research studies and the greater
degree of flexibility does not make the study in any way less scientific than a typical
quantitative study involving more subjects and carried out in a much more rigid manner. The
objectives of the two types of research and their underlying philosophical assumptions are
simply different. However, as discussed in the section on philosophies guiding research, this
does not mean that the two approaches cannot be used in the same study.

11

Q.6 Describe the issues and problems in research?

Deciding whether to use a quantitative or qualitative research method can be a difficult task,
particularly if you arent familiar with the problems associated with each. Quantitative research
focuses on numerical, objective and repeatable data, and avoids subjectivity. Qualitative research
aims to understand the problems it investigated in greater detail, and is often quite subjective.
Finding out about the problems with each method can help you decide which to use, or whether
to mix the two.
1.7 Lack of Detail
Many people criticize quantitative research because the researchers have very little ability to find
out more detail. For example, many quantitative research methods use questionnaires as a means
of finding out percentages of the population that possess certain characteristics or think certain
things. Imagine if a questionnaire asks if you wished to vote for the Republicans or the
Democrats in the next election. Someone answering this question may want to vote for the Green
party, but not have the option available to state that. Within the confines of the quantitative study,
they will have to choose between the two. This may not seem like a relevant fact, but if 10
percent of people who answered Democrat actually preferred Greens, a massive trend will be
missed because of the rigid nature of the study. Qualitative research would catch this discrepancy
through use of open-ended questions.
1.8 Missing Variables

12

The rigid and fixed nature of quantitative research can also result in a relevant variable being
missed entirely. If someone was conducting a qualitative study into the intelligence levels of
children and trying to determine whether firstborn children are more intelligent than all
subsequent children, they may measure childrens IQ, and then note whether they are firstborn,
second, third or fourth. This may produce a result stating that, according to the statistics,
firstborn children are indeed more intelligent, and each subsequent child has a lower IQ than the
one before. This seems to be a relevant finding, but it overlooks the possible variable that
intelligent parents have fewer children. This could mean that the first- and second-born children
have relatively intelligent parents, and fifth-born children have less intelligent parents, so the
conclusion of the study is misleading.
1.9 Subjectivity
Subjectivity -- one of the hallmarks of qualitative research -- is also one of its major flaws. The
subjective nature of the information that can be gleaned from such methods as interviews and
case studies means that they are open to misinterpretation and observer bias. For example, if you
are performing an interview to investigate whether prisoners had abusive childhoods, observer
bias could occur, in that the interviewees could exaggerate the negative aspects of their
childhoods for sympathy or justification. Subjectivity is also an issue when analyzing data,
because in qualitative research, data must be interpreted. Researchers could unwittingly interpret
the data in a way that suggests what they wish to show. This cant be done as easily with
quantitative, numerical data.
1.10 No Generalization
As a result of its subjective nature, its level of detail and its relatively small sample size, you
cannot generalize qualitative findings to the population at large. Quantitative research can easily
generalize data, because it can convert its finding into percentages and other mathematical
expressions that can be extrapolated. Unfortunately, the detailed answers that qualitative research
produces make them difficult to generalize to the population at large. The level of detail in each
study also means that fewer people are studied, therefore making the participants a less accurate
representation of the entire populace.
There are other research problems which are stated as follows

13

1. IIITERACY: -This has hampered the appreciation of the value of research findings by the
majority of the people (social workers and business executive inclusive)
2. SECURITY: This frustrates the researcher in his effort to generate meaningful data.
3. INADEQUATE STATISTICS: This limits the degree of researchers effectiveness and by
extension his research findings.
4. SCANTY INFORMATION BASE: -This narrows down the quantity and quality of
literature available to a researcher. In other words, not as much research findings had
been accumulated from where a researcher can draw from.
5. DOMINANCE OF SMALL SCALE ORGANIZATIONS: -These do not see any need for
research studies due to the management styles and lack of finance.
6. EXISTENCE OF SELLERS MARKET: - In which producers instead of the buyers are
kings. In such situations, goods produced would be sold and there would be little need to
7.

research the market for possible improvements.

LACK OF RESEARCH FUNDS: - This discourages research of all forms. Governments,
institutions/organizations do not quite appreciate the contributions of research findings to
economic development and therefore do not provide sufficient amounts for research of all
types.
8. MULTINATIONAL FIRMS RELY MAINLY ON THEIR PARENT COMPANIES
OVERSEAS FOR THEIR RESEARCH NEEDS: -This attitude does not encourage the

growth of research in developing countries.

8. LACK OF RESEARCH EQUIPMENT: - Like computers contribute to slowing down the
growth of research.
9. INACCURATE OR LACK OF CENSUS FIGURES: - This puts researchers in situation
where they cannot determine easily the sample size of their studies.

14

Chp. 2.

RESEARCH METHODOLOGY

Q.1 What is research methodology? Explain its nature and characteristics.

Research methodology is a systematic way to solve a problem. It is a science of studying how
research is to be carried out. Essentially, the procedures by which researchers go about their
work of describing, explaining and predicting phenomena are called research methodology. It is
also defined as the study of methods by which knowledge is gained. Its aim is to give the work
plan of research.
John W. Best and James V. Kahn in their book entitled Research in Education says Research
is a more systematic activity that is directed toward discovery and the development of an
organized body of knowledge. Research may be defined as the systematic and objective analysis
and recording of controlled observations that may lead to the development of generalizations,
principles, or theories, resulting in prediction and possibly ultimate control of events.
The characteristics of research according to John W. Best and James V. Kahn are:
1. Research is directed toward the solution of a problem.
2. Research emphasizes the development of generalizations, principles, or theories that will be
helpful in predicting future occurrences. Research usually goes beyond the specific objects,
groups, or situations investigated and infers characteristics of a target population from the
sample observed. Research is more than information retrieval, the simple gathering of
information.
3. Research is based upon observable experience or empirical evidence. Certain interesting
questions do not lend themselves to research procedures because they cannot be observed.
4. Research demands accurate observation and description. Researchers may choose to use
quantitative measuring devices when possible. When this is not possible or appropriate to
answer the researchers question, they may choose from a variety of qualitative, or non
quantitative, descriptions of their observations. Good research utilizes valid and reliable data
gathering procedures.
5. Research involves gathering new data from primary or first-hand sources or using existing
data for a new purpose. The students are expected to read a number of encyclopedias, books,
or periodical references and to synthesize the information in a written report. Merely

15

reorganizing or restating what is already known and has already been written, valuable as it
may be as a learning experience, is not research. lt adds nothing to what is known. Although
research activity may at times be somewhat random and unsystematic, it is more often
characterized by carefully designed procedures that apply rigorous analysis.
6. Research requires expertise. The researcher knows what is already known about the problem
and how others have investigated it. He or she has searched the related literature carefully
and is also thoroughly grounded in the terminology, concepts, and technical skills necessary
to understand and analyze the data gathered.
7. Research strives to be objective and logical, applying every possible test to validate the
procedures employed, the data collected, and the conclusions reached. The researcher
attempts to eliminate personal bias. There is no attempt to persuade or to prove an
emotionally held conviction. The emphasis is on testing rather than on proving the
hypothesis.
8. Research involves the quest for answers to unsolved problems. However, previous important
studies are deliberately repeated, using identical or similar procedures, with different
subjects, -different settings, and at a different time.This process is replication, a fusion of the
words repetition and duplication. Replication is always desirable to confirm or to raise
questions about the conclusions of a previous study.
9. Research is characterized by patient and unhurried activity. It is rarely spectacular, and
researchers must expect disappointment and discouragement as they pursue the answers to
difficult questions.
10. Research is carefully recorded and reported. Each important term is defined, limiting factors
are recognized, procedures are described in detail, references are carefully documented,
results are objectively recorded, and conclusions are presented with scholarly Caution and
restraint. The written report and accompanying data are made available to the scrutiny of
associates or other scholars. Any competent scholar will have the information necessary to
analyze, evaluate, and even replicate the study.
11. Research sometimes requires courage. The history of science reveals that many important
discoveries were made in spite of the opposition of political and religious authorities. The
Polish scientist Copernicus (1473- 1543) was condemned by church authorities when he
announced his conclusion concerning the nature of the solar system-. His theory, in direct
conflict with the older Ptolemaic theory, held that the sun, not the earth, was the center of the
solar system. Copernicus angered supporters of prevailing religious dogma, who viewed his

16

theory as a denial of the story of creation as described in the book of Genesis. Modern
researchers in such fields as genetics, sexual behavior, and even business practices have
aroused violent criticism from those whose personal convictions, experiences, or
observations were in conflict with some of the research conclusions.
12. The rigorous standards of scientific research are apparent from an examination of these
characteristics. The research worker should be a scholarly, imaginative person of the highest
integrity, who is willing to spend long hours painstakingly seeking truth.
The chief characteristics of educational research as described by Lulla, Murty and Taneja in their
book Essentials of Educational Research are presented below: Research -is highly purposeful,
dealing with the problems of immediate and remote concern to the teachers and educationists.
follows a systematic process of investigation as precisely, objectively and scientifically as
possible; involves determination of the problem to be studied, formulation of hypotheses,
gathering of information and necessary data from the concerned sources and using different tools
of investigation; employs scientific methods, objective procedures, logical arguments and
inductive reasoning; attempts to organize the data in quantitative or qualitative terms to arrive at
statistical inference; emphasizes the discovery of new facts or interpretation of known facts in a
new perspective; has some underlying philosophic theory; depends on the ability, ingenuity and
experience of the research for its conclusions and interpretations; demands interdisciplinary
approach to solve many of its problem; demands subjective interpretation and deductive
reasoning in some cases; and, uses class-rooms, schools and departments of education as the
laboratories for conducting experiments studies and surveys

Q.2 Describe the steps in scientific research process.

Research Process
Research process is very commonly referred to as the planning process. One important point to
be kept in mind here is to understand that the main aim of the research process is that of
improving the knowledge of the human beings.
The research process consists of the following stages

17

1. The Primary stage : This stage includes

a. Observation The first step in the research process is that of the observation,
research work starts with the observation which can be either unaided visual
observation or guided and controlled observation. It can be said that an
observation leads to research, the results obtained from research result in final
observations which can play a crucial part in carrying out further research.
Deliberate and guided observations also play an important part in this primary
stage. This method is very simple and helps a great deal in framing of the
hypothesis as it is very accurate in nature but it also has some major limitations
like some of the occurrences may not be open to the observation and the
occurrences which may be open for observation may not be studied conveniently.
b.

Interest As studied in the above paragraph, research starts with the observation
and it leads to a curiosity to learn and gain more and more about what has been
observed. Hence it can be said that observation results in the creation of an
interest in the mind of the researcher.The interest can be either academic in nature
or it may be a policy making interest. It may be a self interest or a group interest.
Group interest is also referred to as the social interest.

c. Crystallization It can be defined as the process involving the designing of the

definite form of research to be used in the study of the subject matter that has
been observed. During this stage, the research project gets a concrete shape and
structure.
d. Formulating a research problem A research problem can belong to one of the
following two categories it can belong to the category in which there can be
relationships between various variables or it may belong to the other category,
which is based on nature. In the beginning, it is important for a researcher to find
out the general interest or the subject matter, which he wants to study. By this the
researcher will be able to state a problem more broadly and also in a much
generalized form then the ambiguities linked to the problem can be referred and

18

understood. This really supports in the formulation of a problem of a research.

Although this process is not that simple and requires many fruitful discussions in
order to achieve a proper conclusion or a decision.
e. Primary Synopsis Before starting with the actual study work, it is very
necessary for a researcher to prepare a summary or a plan about the activities he
has to perform in connection with research operation. This will help him a lot to
get a definite idea or an understanding of what would be written in the final
report.
f. Conceptual Clarity It is very much important for a researcher to have in depth
knowledge and understanding of the subject or the topic he has to study as it helps
a lot in achieving ones goal and objectives in a much easier and also a
comparatively much simpler way.
g. Documentation The documents help in providing important information to a
researcher, document is something in writing it can be a record, files or diaries
etc. may be published or unpublished in nature. Documents can be extracted and
can be used in the research work. Various documents can be classified as
i. Personal documents
1. Written by or on behalf of individuals.
2. May include autobiographies, biographies, diaries, memories,
letters, observations and inscriptions.
3. Can be used in research activities.
ii. Company documents
1. Most important type of documents compared to other document
types.

19

2. Play an essential role in management research.

3. May include balance sheets, files, records, policy statements,
resolutions, performance records etc.
iii. Consultants reports and published materials
1. Include professional consultants reports, commodity boards
records, chambers of commerce, trade union documents etc.
iv. Public documents
1. Can be published or unpublished in nature.
2. Consist of government records, finance commission records,
especial enquiry commission records, company law board reports,
population census reports etc.
3.

Can be useful only if they are reliable.

v. Literature Survey Having complete knowledge about the literature is

almost a necessity for a researcher to be successful in his research
operation. With the help of literature survey, one is helped in having
correct concepts and also the right theories.
2. Secondary stage: This stage of the research consists of all the features that are actually
required to run a research project. This stage includes the following
a.

Research project planning: Involves selection of the future courses of action for
conducting and directing a research project. A research project plan gives a
rational approach to research by which one is able to decide in advance about
what to do, how to do, when to do, where to do and who is to do a particular task
in a specific activity.

20

b. Research Project formulation: After the planning of the project has been done
the researcher follows this with a practical approach in order to carry out the
project. This step of the secondary stage involves the systematic setting forth of
the total research project, with an aim of conducting a systematic study.
c. Data collection: This step involves the in depth meaning for the concepts that
are to be investigated and looks forward to data analysis, data requirement etc
Sources of understatement or overstatement should be avoided and the data
should be free from any type of error. The data collection planning should be done
or implemented in a very careful manner, with the help of specialist researchers.
The data should be good and meaningful in nature should not only be a collection
of words but should provide meaningful information.
d. Classification and tabulation Classification can be defined as the arrangement
of the data into groups and classes depending on the resemblance and the
similarities. By classification, the data can be condensed in a very elegant way by
which the various important features can be easily noticed i.e. one can easily
highlight the various salient features of the data at a glance. Tabulation of the data
can be defined as the orderly arrangement of the data in columns and the rows this
step also helps a great deal in the condensation of the data and also in the
analysation of the relations, trends etc.
e.

Data Analysis In this step, the collected data is arranged according to some
pattern or a particular format and this analysation of the data is done mainly to
provide the data with a meaning. It is actually the computing of the some of the
measures supported by the search for the relationship patterns, existing among the
group of the data.

f.

Testing of a hypothesis: This step of testing acts as the back bone of the data
analysis. Various tests like t test, z test. Chi square test are used by the
statisticians for the testing of the hypothesis.

21

g.

Interpretation of results: It is very important that the results are interpreted into
action recommendations and the results should be able to refer to a decision i.e.
should help in drawing a conclusion.

3. Final Stage:- This stage involves

a.

Conclusions and recommendations This act as the crux of the research project
work. Recommendations are based on the conclusions obtained and further these
conclusions are based on the interpretation of the results of data analysis. But a
major point to be kept in mind here is that all these conclusions and the
recommendations should be linked to the research hypothesis stated.

b. Report Writing For the researcher as well as the reader, report writing is very
crucial as it acts as the best way for communication between the two. Report
written must be very simple in nature with easy language, high clarity. Report
writing cannot be done by everyone and requires an especial skilled person for
this purpose.

Q.3 Discuss the steps in formulating the research problems.

It is the first and most crucial step in the research process - Main function is to decide what you
want to find out about.
The way you formulate a problem determines almost every step that follows. Sources of research
problems Research in social sciences revolves around
1. Specify the Research Objectives
A clear statement of objectives will help you develop effective
research.

22

It will help the decision makers evaluate your project. Its critical that
you have manageable objectives. (Two or three clear goals will help to
keep your research project focused and relevant.)
2. Review the Environment or Context of the Research Problem
As a marketing researcher, you must work closely with your team. This
will help you determine whether the findings of your project will
produce enough information to be worth the cost.
In order to do this, you have to identify the environmental variables
that will affect the research project.
3. Explore the Nature of the Problem
Research problems range from simple to complex, depending on the
number of variables and the nature of their relationship.
If you understand the nature of the problem as a researcher, you will
be able to better develop a solution for the problem.
To help you understand all dimensions, you might want to consider
focus groups of consumers, sales people, managers, or professionals to
provide what is sometimes much needed insight.
4. Define the Variable Relationships
Marketing plans often focus on creating a sequence of behaviors that
occur over time, as in the adoption of a new package design, or the
introduction of a new product.
Such programs create a commitment to follow some behavioral pattern
in the future.

23

Studying such a process involves:

1. Determining which variables affect the solution to the problem.
2. Determining the degree to which each variable can be controlled.
3. Determining the functional relationships between the variables and which variables
are critical to the solution of the problem.
During the problem formulation stage, you will want to generate and consider as many courses
of action and variable relationships as possible.

5. The Consequences of Alternative Courses of Action

There are always consequences to any course of action. Anticipating and communicating the
possible outcomes of various courses of action is a primary responsibility in the research process.

Q.4. What is Hypothesis? Explain its importance.

A hypothesis is an educated prediction that can be tested. You will discover the purpose of a
hypothesis then learn how one is developed and written. Examples are provided to aid your
understanding, and there is a quiz to test your knowledge. A hypothesis is a specific, testable
prediction. It describes in concrete terms what you expect will happen in a certain circumstance.
Your hypothesis may have been, 'If not studying lowers test performance, and I do not study,
then I will make a low grade on the test'.
A good hypothesis possesses the following certain attributes.
1. Power of Prediction
One of the valuable attribute of a good hypothesis is to predict for future. It not only clears
the present problematic situation but also predict for the future that what would be happened
in the coming time. So, hypothesis is a best guide of research activity due to power of
prediction.

2. Closest to observable things

24

A hypothesis must have close contact with observable things. It does not believe on air
castles but it is based on observation. Those things and objects which we cannot observe, for
that hypothesis cannot be formulated. The verification of a hypothesis is based on observable
things.
3. Simplicity
A hypothesis should be so dabble to every layman, P.V young says, A hypothesis wo0uld be
simple, if a researcher has more in sight towards the problem. W-ocean stated that, A
hypothesis should be as sharp as razors blade. So, a good hypothesis must be simple and
have no complexity.
4. Clarity
A hypothesis must be conceptually clear. It should be clear from ambiguous informations.
The terminology used in it must be clear and acceptable to everyone.
5. Testability
A good hypothesis should be tested empirically. It should be stated and formulated after
verification and deep observation. Thus testability is the primary feature of a good
hypothesis.
6. Relevant to Problem
If a hypothesis is relevant to a particular problem, it would be considered as good one. A
hypothesis is guidance for the identification and solution of the problem, so it must be
accordance to the problem.
7. Specific
It should be formulated for a particular and specific problem. It should not include
generalization. If generalization exists, then a hypothesis cannot reach to the correct
conclusions.
8. Relevant to available Techniques
Hypothesis must be relevant to the techniques which is available for testing. A researcher
must know about the workable techniques before formulating a hypothesis.

9. Fruitful for new Discoveries

It should be able to provide new suggestions and ways of knowledge. It must create new
discoveries of knowledge J.S. Mill, one of the eminent researcher says that Hypothesis is
the best source of new knowledge it creates new ways of discoveries.
10. Consistency & Harmony

25

Internal harmony and consistency is a major characteristic of good hypothesis. It should be

out of contradictions and conflicts. There must be a close relationship between variables
which one is dependent on other.

Q.5 Discuss the types of hypothesis.

A hypothesis looks forward. It is a proposition which can be put to a test to determine its validity.
It may seem contrary to or in accord with common sense. It may prove to be correct or incorrect.
In any event however, it leads to an empirical test. Whatever the outcome, the hypothesis is a
question put in such a way that an answer of some kind can be forthcoming. The function of the
hypothesis is to state a specific relationship between phenomena in such a way that this
relationship can be empirically tested. The basic method of this demonstration is to design the
research so that logic will require the acceptance or rejection of the hypothesis on the basis of
resulting data.
Below are some of the important types of hypothesis
1. Simple Hypothesis
Simple hypothesis is that one in which there exists relationship between two variables one is
called independent variable or cause and other is dependent variable or effect. For example
2. Smoking leads to Cancer
The higher ratio of unemployment leads to crimes.
3. Complex Hypothesis
Complex hypothesis is that one in which as relationship among variables exists. In this type
dependent as well as independent variables are more than two. For exampleSmoking and
other drugs leads to cancer, tension chest infections etc.The higher ration of unemployment
poverty, illiteracy leads to crimes like dacoit, Robbery, Rape, prostitution & killing etc.
4. Empirical Hypothesis
Working hypothesis is that one which is applied to a field. During the formulation it is an
assumption only but when it is pat to a test become an empirical or working hypothesis.
5. Null Hypothesis
Null hypothesis is contrary to the positive statement of a working hypothesis. According to
null hypothesis there is no relationship between dependent and independent variable. It is
denoted by HO.
6. Alternative Hypothesis

26

Firstly many hypotheses are selected then among them select one which is more workable
and most efficient. That hypothesis is introduced latter on due to changes in the old
formulated hypothesis. It is denote by HI.
7. Logical Hypothesis
It is that type in which hypothesis is verified logically. J.S. Mill has given four cannons of
these hypothesis e.g. agreement, disagreement, difference and residue.
8. Statistical Hypothesis
A hypothesis which can be verified statistically called statistical hypothesis. The statement
would be logical or illogical but if statistic verifies it, it will be statistical hypothesis

Q.6 Describe the sources of developing hypothesis.

Excellent research begins with a clear hypothesis which can be examined by the generation of
new data by state-of-the-arts techniques. The hypothesis should be original and one which will
generate substantial interest if answered by leading investigators in the field. It is not excellent
research to investigate an hypothesis which is highly predictable or expected or in which there
would be little interest. A review of the literature or review of patients' charts may be the source
of data used for a thesis. However, the basic requirement still applies. There must be a hypothesis
which can be supported or rejected on the basis of data gleaned from the patients' records or
published literature. These data should be subjected to statistical analysis, and the results should
either confirm or reject the original hypothesis. As with any other thesis, a review of the
literature and a section dealing with the interpretation of the data and a discussion of its
importance should be included. A literature review cannot be a simple narrative describing the
information obtained from these sources.
1. General Culture:
The general pattern of culture helps not only to formulate a hypothesis, but also to
guide its trend. The culture has a great influence upon the thinking process of people
and hypothesis may be formed to test one or more of these ideas.
2. Scientific Theory:
The knowledge of theory leads us to form further generalizations from it. These
generalizations form the part of hypothesis.
3. Analogies:
Sometimes a hypothesis is formed from the analogy. A similarity between two
phenomena is observed and a hypothesis is formed to test whether the two
phenomena are similar in any other respect.

27

4. Intuition:
A person may get ideas to develop hypothesis due to ones own intuition. Ideas can
strike like a flash. It is often said that reflective minds are spring of knowledge. The
story of laws of gravitation propounded by Newton at the sight of falling apple is the
case of intuition.
5. Research studies
Research on one problem can help to develop hypothesis to solve another problem.
Also, research studies conducted earlier can be source of problems, as the research
can develop hypothesis based on the earlier research studies.
6. Consultations
The researcher can hold discussions with experts to develop hypothesis. For eg
research students can take help of their seiner person or take help of experts.

28

Chp. 3.

RESEARCH ON JUST DIAL

Company Overview
Just Dial Limited
Justdial's Mission To provide fast, free, reliable and comprehensive information to our users
and connect buyers to sellers. Corporate Information

The company started offering local search services in 1996 under the Justdial brand and

is now the leading local search engine in India.

The official website www.justdial.com was launched in 2007.
Justdial's search service is available to users across multiple platforms, such as the
internet, mobile Internet, over the telephone (voice) and text (SMS).

Justdial's search service bridges the gap between the users and businesses by helping users find
relevant providers of products and services quickly, while helping businesses listed in Justdial's
database to market their offerings.
Justdial has also initiated its Search Plus Services for the users. These services are aimed at
making several day-to-day tasks conveniently actionable and accessible to the users. With this
step, Justdial is transitioning from being purely a provider of local search and related information
to being an enabler of such transactions. Justdial intends to provide an online platform to
thousands of SMEs to get them discovered and transacted.
Justdial Facts

Justdial Apps are available on the Android, iOS, Windows and Blackberry platform/s and

have location - based services for the mobile Internet users.

Justdial has 8888888888 as their operator assisted hotline number, across India, which is

accessible 24 hours a day, 7 days a week with multi-lingual support.

Justdial has a database of approximately 15 million listings as of March 31, 2015.
Justdial users have contributed 53,203,513 reviews and ratings for various listings, till

date.
Justdial had approximately 331,200 campaigns as of March 31, 2015. Business owners

have the option to list their business on Justdial's database for free.
With the registered & corporate office based in Mumbai, Justdial also has offices across
India in Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Delhi, Hyderabad,
Jaipur, Kolkata and Pune.

29

Key Highlights

Services offered across various cities and towns in India

Advanced and scalable technology platform
Experienced management team
Large online community for reviews
Long operating history with a proven monetization model

Investors
SAIF Partners, Sequoia Capital, Tiger Global, EGCS and SAP Ventures have invested in the
company.The equity shares of the Company are listed on the National Stock Exchange of India
Limited, the BSE Limited and MCX Stock Exchange Limited on June 5, 2013.

Beginning of Just dial

Justdial was founded by Mr V S Mani who performs in the capacity of the Managing
Director and Chief Executive Officer of the Company. Mr.Mani thought of the idea while
working for yellow pages company called United Database India (UDI) in 1987. He felt that the
information could prove to be much more useful if it could be provided over the phone. In 1996,
he came to know that Mumbai's Kandivali exchange owned the number 8888888888. He was
well aware of the importance of having an easy to remember number for a service like this and
he somehow persuaded the GM to allot the number to him. However, the company could not be
started for almost a year because Mr. Mani could not afford a telephone connection which used
to cost INR 15,000. The other option to wait for many years for the connection. The Company
finally started providing local search services over the phone in 1996 under the Just Dial brand
and launched their Internet and mobile Internet services in 2007. In the beginning, Mr. Mani
started the company with a few pieces of borrowed furniture, rented computers, a 15 sq. feet
garage which he took on hire and a seed capital of Rs 50,000. In fiscal 2012, Justdial addressed
over 25.43 crore search queries from millions of users across platforms. As of March 31, 2013
Justdial had 7,457 employees. Justdial has a database of approximately 91 lakh listings as of
March 31, 2013 and approximately 1,95,100 campaigns as of December 31, 2012. Justdial's

30

unconsolidated total revenue was Rs 271.61 crore and unconsolidated restated profits after tax
from continuing operations were Rs. 47.08 crore as of December 31, 2012.
Prior to JustDial, Mr. Mani started a company called AskMe in 1989 based on a similar concept,
but at that time owing to low penetration of telephones in the country, the venture did not take
off. After that he worked on a plan "Wedding Planner" in collaboration with The Times of
India. The local search engine sealed sponsorship deals with IPL Cricket teams of 2014 season.
The Mumbai Indians, Delhi Daredevils, Hyderabad Sunrisers, Kings XI Punjab & Royal
Challengers Bangalore are the teams under its roof of sponsorship.

31

Just dial financial research and analyses

Balance Sheet of Just Dial

------------------- in Rs. Cr. ------------------Mar '14 Mar '13

12
mths

Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities

70.15
70.15
0.00
0.00
464.30
534.45
0.00
0.00
0.00
534.45
Mar
'14
12
mths

Application Of Funds
Gross Block
Less: Revaluation Reserves
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance

102.73
0.00
49.94
52.79
0.00
625.70
0.00
0.00
36.96

12 mths

69.50
69.50
0.78
0.00
355.63
425.91
0.00
0.00
0.00
425.91
Mar '13

12 mths

96.70
0.00
35.93
60.77
1.56
485.79
0.00
0.89
23.93

32

Total Current Assets

Loans and Advances
Fixed Deposits
Total CA, Loans & Advances
Deferred Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets

36.96
49.51
0.00
86.47
0.00
212.10
18.41
230.51
-144.04
0.00
534.45

24.82
34.47
0.00
59.29
0.00
179.69
1.82
181.51
-122.22
0.00
425.90

Contingent Liabilities
Book Value (Rs)

41.81
76.19

10.08
61.17

Profit & Loss account of Just Dial

------------------- in Rs. Cr. ------------------Mar '14 Mar '13

Income
Sales Turnover
Excise Duty
Net Sales
Other Income

12 mths

12 mths

461.29
0.00
461.29
39.95

362.77
0.00
362.77
12.01

33

Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses

Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)

0.00
501.24

0.00
374.78

0.00
8.58
228.57
0.00
0.00
81.94
0.00
319.09
Mar '14

0.00
7.44
177.86
0.00
0.00
76.63
0.00
261.93
Mar '13

12 mths

12 mths

142.20
182.15
0.00
182.15
17.29
0.00
164.86
0.00
164.86
44.25
120.61
319.09
0.00
14.03
2.38

100.84
112.85
0.00
112.85
14.40
0.00
98.45
0.00
98.45
29.97
68.46
261.93
0.00
0.00
0.00

701.51
17.19
20.00
76.19

695.03
9.85
0.00
61.17

34

Key Financial Ratios of Just Dial

Mar '14 Mar '13

Investment Valuation Ratios
Face Value
Dividend Per Share
Operating Profit Per Share (Rs)
Net Operating Profit Per Share (Rs)
Free Reserves Per Share (Rs)
Bonus in Equity Capital
Profitability Ratios
Operating Profit Margin(%)
Profit Before Interest And Tax Margin(%)
Gross Profit Margin(%)
Cash Profit Margin(%)
Adjusted Cash Margin(%)
Net Profit Margin(%)
Adjusted Net Profit Margin(%)
Return On Capital Employed(%)
Return On Net Worth(%)
Adjusted Return on Net Worth(%)
Return on Assets Excluding Revaluations

10.00
2.00
20.27
65.76
---

10.00
-14.51
52.19
---

----27.51
26.14
---22.56
76.19

27.79
22.96
23.82
22.42
22.42
18.87
18.19
23.46
16.10
16.46
61.17

---

35

Return on Assets Including Revaluations

Return on Long Term Funds(%)
Liquidity And Solvency Ratios
Current Ratio
Quick Ratio
Debt Equity Ratio
Long Term Debt Equity Ratio
Debt Coverage Ratios
Interest Cover
Total Debt to Owners Fund
Financial Charges Coverage Ratio
Financial Charges Coverage Ratio Post
Tax
Management Efficiency Ratios
Inventory Turnover Ratio
Debtors Turnover Ratio
Investments Turnover Ratio
Fixed Assets Turnover Ratio
Total Assets Turnover Ratio
Asset Turnover Ratio
Average Raw Material Holding
Average Finished Goods Held
Number of Days In Working Capital
Profit & Loss Account Ratios
Material Cost Composition
Imported Composition of Raw Materials
Consumed
Selling Distribution Cost Composition
Expenses as Composition of Total Sales
Cash Flow Indicator Ratios
Dividend Payout Ratio Net Profit
Dividend Payout Ratio Cash Profit
Earning Retention Ratio
Cash Earning Retention Ratio

76.19
30.84

61.17
23.51

0.38
0.38
---

0.33
0.33
---

----

20,191.07
-23,100.68

--

16,738.64

--1,034.3
406.70
2
------0.96
1.36
-----115.30 -124.68
--

--

--

--

---

---

11.63
10.17
88.37
89.83

--100.00
100.00

36

AdjustedCash Flow Times

--

--

Mar '14 Mar '13

Earnings Per Share

17.19

9.85

Book Value

76.19

61.17

37

RESEARCH ANALISES ACCORDING TO AVAILEBLE DATA

The company with around 9,000 employees in 2014 works in area defined teams, with a
combination of Outbound, Sales, Inbound, Technical and QA processes. It is a listing company
and receives around 1.9 million calls every day on its number. Users and prospective customers
call on its main service number and ask for a particular service provider. Based on keywords the
customer is looking for, the lead is passed to many service providers in the local area. The
vendors can then call the lead generated through JustDial. The competition is controlled by
bidding for the position in the listing. The higher is the amount paid, the more leads you get.
The company as also upgraded according to online world not only tele services they provided but
also entered to online world where information are provided by online services and in improved
manner.
Local search engine Justdial reported 18 percent increase in net profit at Rs 33.17 crore for the
quarter ended June 30, 2015. The company had reported a net profit of Rs 28.11 crore in the
corresponding quarter a year ago, it said in a BSE filing. Justdial's total income from operations
grew by 24.87 percent to Rs 168.62 crore in the quarter under review as against Rs 135.03 crore
in year-ago period. Its overall expenses stood at Rs 126.93 crore, up 18.91 percent as compared
to Rs 106.74 crore in the first quarter of the previous fiscal.
Just Dial has reported a standalone total income from operations of Rs 156.28 crore and a net
profit of Rs 47.16 crore for the quarter ended Mar '15. For the quarter ended Mar 2014 the
standalone total income from operations was Rs 124.21 crore and net profit was Rs 34.15 crore.
Just Dial shares closed at 1,139.95 on June 01, 2015 (BSE) and has given -27.30% returns over
the last 6 months and -16.83% over the last 12 months.
ocal search engine Just Dial is expected to report steady growth in quarterly earnings with the
first quarter profit and revenue rising 24 percent each year-on-year, according to the average of
estimates of analysts polled by CNBC-TV18. The company will announce its earnings on July
27. Profit is seen going up to Rs 35 crore from Rs 28.1 crore and revenue is likely to increase to
Rs 167.5 crore from Rs 135.03 crore during the same period. Launch of Search Plus (SP) has

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been pushed out beyond June quarter. Analysts expect margins to remain stable sequentially and
one-time spending related to SP launch could come through starting in Q2FY16. Investor focus
is more on Search Plus. The street wants to see whether the commercial launch of Search Plus is
on schedule by July/August as indicated by management. According to analysts, the steady
performance in the Search business is unlikely to be key stock price driver. Street focus is also on
new tie-ups and traction across Search Plus services & investments in the Search Plus business.
Operating profit (earnings before interest, tax, depreciation and amortisation) may grow 35.3
percent Y-o-Y to Rs 46 crore and margin may expand 233 basis points to 27.5 percent in the
quarter gone by.

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BIBLIOGRAPHY

www.justdial.com
www.classroom.synonym.com
www.qub.ac.uk
www.mycourse.solent.ac.uk
www.businessdictionary.com
www.bestugcnetguide.in
www.googlebook.com
Michael vaz (text book)
scholar.google.co.in
in.answers.yahoo.com

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