SUMMER TRAINING REPORT

ON

FINANCIAL ANALYSIS OF SOLAR POWER PLANT IN C&S ELECTRICS LTD.

Submitted in partial fulfillment for the award of degree of Bachelors of Business Administration

BY JERIN ABRAHAM BBA/4556/09

DEPARTMENT OF MANAGEMENT

BIRLA INSTITUTE OF TECHNOLOGY, NOIDA CAMPUS BIRLA INSTITUTE OF TECHNOLOGY (Deemed University U/S 3 of UGC Act 1956) Mesra, Ranchi, Jharkhand

CERTIFICATE OF APPROVAL
This is to certify that Jerin Abraham, BBA (4556/09) has successfully completed his summer project under the guidance of Mr. K.B Singh of Birla Institute of Technology, Noida.

The project entitled Fundamental Analysis of BRITANNIA INDUSTRIES LTD. is hereby approved as a as a certified study in management carried out and presented in a manner satisfactory to warrant its acceptance as a prerequisite for the award of Bachelor of Business Administration for which it has been submitted.

Ms. Meenakshi Sharma Incharge Management

Dr. S.L. Gupta Academic Coordinator

Director BIT Noida

DECLARATION

I hereby declare that the summer project, Fundamental Analysis of BRITANNIA INDUSTRIES LTD, submitted for the BBA degree at Birla Institute of Technology is an original work of Jerin Abraham and the project has not formed the basis for the award of any degree, associate ship, fellowship or any other similar titles.

Jerin Abraham BBA/4556/09

Mr. K.B Singh

ACKNOWLEDGEMENT

The project would not have been possible without the guidance and support of many people. I extend my sincere gratitude to all those who have been instrumental in the presentation of this project report. My sincere thanks to Mr. VIJAY GARG, my industry guide, who considered my candidature for summer training and provided me an opportunity to work with C&S ELECTRICS LTD. He was always there to guide me through the project and helped me have a glimpse of corporate world and its culture. My heartfelt gratitude to my faculty guides Mr. Munish Makkad. He provided me with various important concepts and facilitated the understanding of it. My special thanks to family and friends for their love and support.

JERIN ABRAHAM

EXECUTIVE SUMMARY

This project is an attempt to provide a detailed analysis of the process of the training program done by C&S Electric Ltd. and its benefits. The first part of the project tells about the companys profile, what the company is really about, its history, what kind of products it makes and the new products it has launched recently in the market. The company has four Joint Venture projects with four different companies trying to come up with new ideas and products. In my complete student internship program I was able to do data analysis and interpretation, making reports, learn about commercial forms used in dealings with other parties, fill up forms online, make Reconciliation Accounts, profit and loss account etc. During this student internship program I came to know that, knowledge based economy, training helps people to learn how to do things differently or to do different things. I have learned from the future projection of solar power plant that it will succeed in upcoming five years. The company is using the material of high standard quality in making electrical equipments for power generation which will be beneficial for our nation.

TABLE OF CONTENTS

TOPIC
1.

PAGE NO.

INTRODUCTION OF COMPANY 1.1 BOARD OF DIRECTORS 1.2 VALUES 1.3 MISSION 1.4 VALUES OF THE COMPANY 1.5 MARKET SERVED 1.6 HISTORY 1.7 QUALITY

2. INTRODUCTION TO THE STUDY 2.1 INTRODUCTION SOLAR POWERPLANT 2.2 SOLAR POWERPLANT IN INDIA 2.3 ADVANTAGES OF SOLAR POWERPLANT 2.4 DISADVANTAGES OF SOLAR POWERPLANT

3.

FINDING OF THE STUDY 3.1 FUTURE PROJECTIONS

4. RESEARCH METHODOLOGY

5. CONCLUSION

6. BIBLOGRAPHY

INTRODUCTION

C&S Electric Ltd. is one of the leading suppliers of electrical equipment in India and is

Indias largest exporter of industrial switchgear. It has a wide range of electrical and electronic product which also finds application in power generation, distribution, control, protection and final consumption. The business operations of C&S Electric are divided in the following 4 strategic business units (SBUs). Switchgear & Protection SBU Power Bus bars SBU Lighting & Wiring Accessories SBU Solar power plant The company employs over 4500 people including 450 engineers, and has 19 state-of-the art manufacturing plants. It has 22 sales offices across India and its products are exported to 78 countries. C&S Electric also has several joint venture companies. The company is amongst the leading suppliers of electrical equipments in India and trying to dominance abroad.

BOARD OF DIRECTORS

Mr. R.N KHANNA Mr. P.N KHANNA Mr. ASHOK KHANNA Mr. ANUJ KHANNA Mr. RISHI KHANNA Mr. ADITYA KHANNA Mr. V.N KOURA Mr. PRITHVI RAJ KHANNA Mrs. RADHIKA KHANNA Mr. KANWAL KHANNA Mr. ANJU KHANNA Mr. BHARAT BHUSHAN

VALUES OF THE COMPANY

C&S commands a domestic market share ranging from 12% to 50% and be known widely

as the company closest to its customers.

C&S products are used to manage power in Indias biggest industries, in its highest

buildings, infrastructure and in millions of its homes. The C&S names are recognized widely as a benchmark, and shall serve as a role model and an inspiration to other Indian engineering products companies.
C&S are cited as a company that played an important role in making Made in India a

label that is trusted and respected even abroad.

It is the most trusted, respected and preferred brand, for electrical and electronic equipment

that finds application in power generation, distribution, control and final consumption.

MISSION STATEMENT OF COMPANY

To create a unique aspect of outstanding products, operational excellence, path breaking

customer service, and compelling marketing.

To create and explore a vibrant workplace where employees are empowered, cared for,

developed, and most of all, provided unlimited opportunity to discover their full potential.
To continuously enhance the core technologies, and develop new enduring technologies

and products to expand the offering to the customers.

To consolidate and strengthen the position as Indias largest exporter of Industrial power

distribution and control equipment. To earn a healthy return on investment for the shareholders.
To experience, the sheer joy of delighting our internal and external customers, and to

participate in Indias infrastructure boom.

VALUES OF THE COMPANY

Extend to the customer. Fully understand and fulfill needs of all customers.

Do not tolerate mediocrity. Stretch, Excel and Exceed.

To maintain high level of frankness and honesty. Be frank, fair and non-political and expect the same treatment in return.

Do not be afraid of conflict, when it is required and is just.

Always be obsessed with quality.

Display attention to quality every single day, from the very top down, and from the bottom up. Remember and teach that small things lead to perfection, but perfection is not a small thing.
Hard work, smart and swift should be the motive.

Nurture a tendency of tenacity, perseverance and sheer hard work is innovative.

Opportunities to innovate should be everywhere and everyday.

Take responsibility for your own agenda and priorities.

If you are not making mistakes, you are not trying hard enough.

Helps to succeed as a team and as an individual.

Strike a balance between people and task orientation.

 Empower and delegate, but don't over delegate.

Discover your strengths & those of others.

While bonding with shared values we must encourage and respect rich diversity in skills,

experiences, knowledge, talents and personal styles.

Success comes more from exploiting strengths than from overcoming weaknesses.

MARKETS SERVED BY C&S ELECTRICS

Industry Power Paper Buildings IT Parks

Petrochemical F&B Hotels

Metals Others Others

Hospitals Infrastructure Railway

Group Housing Telecom

Others Machine Tools Others

Water Material Handling Lifts Apartments Villas

Airports Compressors Telecom Power Supplies

OEMs

Homes

HISTORY

The CMD of C&S ELECTRICS LTD., Mr. .R N Khanna after graduating from IIT Kharagpur, gets his first taste of the switchgear business as a Design Engineer in a leading German company. In 1966, R N Khanna returns to India after spending 4 years with FANAL as a switchgear design engineer. Controls & Switchgear Company is founded in a garage by R N Khanna, who is soon joined by his younger brother Ashok Khanna who graduated from IIT Madras. 1966 - 1982 The company goes on to become amongst the largest LV switchboards manufacturer in India, executing prestigious and challenging jobs. Then the company enters Bus duct business, with technology taken from France, to build on its strong relationships with power generation utilities 1982 1985. In a short time enters the switchgear components business by technology transfer from Terasaki Japan (Air Circuit Breakers); ABB Stromberg Finland (Switches and Switch Fuse Units) and France (Contactors, Overload Relays and Motor Starters). Thus becomes a major LV Switchgear Player. 1992 - 1994 Diversities with 3 joint ventures: Wago (Terminals), RS (Mail Orders) and AVK-SEG (Alternator and Relays until 2004 restructuring).In 1998 - 2007 Second Generation joins the business. The company established the EOU and SEZ facilities. It also acknowledged as Indias 1 Bus bar Company. The growth increased to almost 40% for three years in a row 2005 to 2008.There was a joint venture with Himoinsa of Spain to manufacture Diesel Generating Sets. In, 2008 enters Medium Voltage business through a JV with Efface of Portugal. The company raises private equity from GE Commercial Finance with intention to grow even more aggressively through organic and inorganic means. The company merges three main companies into a single entity.

QUALITY

C&S strives for six sigma quality levels. The statistical process control is a way of life at C&S. Several techniques and tools are used for this process such as the Minitab software, from which the screenshots below have been reproduced. Process capability studies, PPAP (Product Part for Approval) documentation, Gauge R&R and other MSA (Measuring System Analysis) tools ensure quality in components and manufacturing processes. With the help of such tools that has allowed C&S to meet the needs of the most demanding customers and win international quality awards and various other priorities.

RESEARCH & DEVELOPMENT OF THE COMPANY

C&S Electric has a long tradition of indigenous R&D, from the early days when the company was started in the garage by two IIT educated engineers. The C&S possesses R&D expertise in several disciplines. The key areas are in Mechanical, Electrical and Electronic designs. The highly skilled and experienced full time R&D staff is further supported by a unique network of best in class international specialist consultants and niche suppliers for various R&D related products and services. Through this combination of in house skills and innovative use of external resources, C&S is able to design, develop and launch products at a competitive pace. The company has designed and developed several models of contactors, overload relays and circuit breakers which have been proven in the market place. It has designed and developed Indias first totally bolted type of enclosure system for LV switchboards, Indias first comprehensive range of s, and Indias first 660MV isolated phase bus ducts. The R&D is totally equipped with state of the art CAD/CAM and CAE systems (including Finite Element Analysis and Dynamic Motion Simulation software). It has advanced measuring, computerized data acquisition, and several electrical testing laboratories. The company also has expertise in embedded hardware and software design and has developed several microprocessor based electronic protection and control products.

C&S ELECTRIC LTD. JOINT VENTURES

There 4 joint ventures of the company

C&S Himoinsa (P) Ltd. DG set for power generation LPG / CNG sets for power generation Control Panel including AMF units

C&S Efacec MV India Pvt. Ltd. 3.6kV to 36kV Medium Voltage Metal Clad Indoor Switchgear 12kV Ring Main Units

RS Components & Controls India Ltd. Worlds largest supermarket for electrical, electronic, pneumatic, mechanical, health, safety and information technology products Access to over 2, 00, 000 products of renowned brands from around the world delivered at your door step against rupee payment

Wago & Controls (India) Ltd. Screwless Cage Clamp Connectors Fit & Forget Series Rail or PCB Mounted Terminals

INTRODUCTION TO THE STUDY SOLAR POWER PLANT

C&S Electric Limited is developing and executing 1 MW Solar PV Power Plant under

MNRE, RPSSGP scheme in Haryana in District Bhiwani, having undertaken total EPC of the project by itself. The concept to Commissioning Engineering Green Energy India is destined to be the global hub for Solar PV Power Industry. It is endowed with a high level of solar insulation, of the order of 2000 KWh/KWp. The policy framework facilitating the realization of the huge potential is already in place with the declaration of Jawaharlal Nehru National Solar Mission by the Indian government in 2009.

C&S Electric Solar PV Power Division is at the forefront of the Solar PV revolution

underway in India, offering total PV Power Solutions from concept to commissioning for both the Rooftop PV Systems and the Utility Scale Solar PV Power Plants. C&S Electric's Solar PV Power Division has the capability of undertaking total solutions for Solar Projects on Engineering, Procurement & Construction basis.

The capability encompasses the following:-

Solar Power Feasibility Analysis Site Evaluation Suitability Solar System Design Engineering Mounting Structure Fabrication Civil & Foundation related Work Cabling, Earthling, Lightning protection and Safeties Power Conditioning & Power Evacuation Performance tracking. Project Management, Sourcing, System Integration, Installation & Commissioning. Operation & managerial. Solar PV Power Project Development is a complex and a specialized task. A Solar PV Power Plant involves DC power generation at module level, collating this DC power output from various modules in a manner to build the desired voltage and amperage, conditioning this collated DC power to AC, then stepping up to 33 KV or 66 KV and transmitting / feeding into the Grid Sub Station. Our electrical engineering / controls / electronics competency fits into this domain naturally and enables us to be a leader in this complex and specialized field. C&S ELECTRIC LTD. has recently executed a solar plant which is costing 14 crore including the land cost. The company has signed a Power Purchasing Agreements (PPA) with the government by which they have applied the loan from the bank. The plant is costing 17.91 per unit of solar power.

SCOPE OF SOLAR POWER PLANT IN INDIA

With 300 clear, sunny days in a year, India's theoretical solar power reception is about 5 Petawatthours per year (PW/yr). The daily average of solar energy incident over India varies from 4 to 7 kWh/m2 with about 15002000 sunshine hours per year (depending upon location), which is far more than current total energy consumption. For example, assuming the efficiency of PV modules were as low as 10%, this would still be a thousand times greater than the domestic electricity demand projected for 2020.

Installed capacity
The amount of solar energy produced in India is less than 1% of the total energy India is densely populated and has high solar insulation, an ideal combination for using solar power in India. India is already a leader in wind power generation. In the solar energy sector, some large projects have been proposed, and a 70,000 area of the Thar Desert has been set aside for solar power projects, sufficient to generate 700 GW to 2,100 GW. In July 2009, India unveiled a US$19 billion plan to produce 20 GW of solar power by 2020 under the plan, the use of solar-powered equipment and applications would be made compulsory in all government buildings, as well as hospitals and hotels on November 18, 2009, it was reported that India was ready to launch its National Solar Mission under the National Action Plan on Climate Change, with plans to generate 1,000 MW of power by 2013.

India's largest photovoltaic (PV) power plants DC GWh Capacity Name of Plant Peak Power Notes /year factor (MW) Sivaganga Photovoltaic Completed December 5 Plant 2010 Kolar Photovoltaic Plant 3 Completed May 2010 Itnal Photovoltaic Plant, 3 Completed April 2010 Belgaum Azure Power 2 2009 Photovoltaic Plan Jamuria Photovoltaic 2 2009 Plant NDPC Photovoltaic Plant 1 2010 Thyagaraj stadium Plant1 April, 2010 Delhi Gandhinagar Solar Plant 1 January 21, 2011 Tata - Mulshi, Commissioned April 3 Maharashtra 2011 Azure Power Commissioned June 10 Sabarkantha, Gujara 2011 Moser Baer - Patan, To Be Commissioned 30 Gujara July 2011 Tata - Mayiladuthurai, Commissioned July 1 Tamil Nadu 2011 REHPL - Sadeipali, Commissioned July 1 (Bolangir) Orissa 2011

Solar power is currently discriminatortory due to high initial costs of installation. To make a thriving solar market, the technology needs to be competitively cheaper (i.e. attaining cost parity with fossil or nuclear energy). India is heavily dependent on coal and foreign oil, an exercise likely

to continue until non-fossil/renewable energy technology becomes economically cheaper in the country the cost of production ranges from 15 to 30 per unit compared to around 5 to 8 per unit for conventional thermal energy but the company is the solar power for less than 15 rupees.

Solar engineering training

The Australian government has awarded UNSW a dollar 5.2 million to train next-generation solar energy engineers from Asia-Pacific nations, specifically India and China, as part of the AsiaPacific Partnership on Clean Development and Climate (Appertain programmes are designed to target for rural solar usage development.

Future applications of the solar power plant Rural electrification

Lack of electricity infrastructure is one of the main hurdles in the development of rural India. India's grid system is considerably under-developed, with major sections of its populace still surviving off-grid. As of 2004 there are about 80,000 unelectrified villages in the country. Of these villages, 18,000 could not be electrified through extension of the conventional grid. A target for electrifying 10,000 such villages was set for the Tenth National Five Year Plan (20022007). As of 2004, more than 2,700 villages and hamlets had been electrified, mainly using solar photovoltaic systems. Developments in cheap solar technology are considered as a potential alternative that allows an electricity infrastructure consisting of a network of local-grid clusters with distributed electricity generation sit could allow bypassing the need to install expensive, loss, long-distance, centralized power delivery systems and yet bring cheap electricity to the people of the rural India.

Agricultural support provided by solar energy

Solar PV water pumping systems are used for irrigation and drinking water in India. The majority of the pumps are fitted with a 2003,000 watt motor that are powered with 1,800 Wp PV arrays which can deliver about 140,000 liters of water per day from a total head of 10 meters. By 30 September, 2006, a total of 7,068 solar PV water pumping systems had been installed. Solar driers are used to dry harvests before storage.

Solar water heaters

Bangalore has the largest deployment of rooftop solar water heaters in India. These heaters will generate an energy equivalent of 300 MW every day. After this information the company is trying to install a plant in the south. Bangalore is also the first city in the country to put in place an incentive mechanism by providing a rebate on monthly electricity bills for residents using roof-top thermal systems. These systems are now mandatory for all new structures. Pune, another city in the western part of India, has also recently made installation of solar water heaters in new buildings mandatory.

Challenges and constraints Land scarcity

The land is a scarceist resource in India and per capita land availability is low. The dedication of land area for exclusive installation of solar arrays might have to compete with other necessities that require land. The amount of land required for utility-scale solar power plantscurrently approximately 2 km for every 2060 megawatts (MW) generatecould pose a strain on India's available land resource. The architecture more suitable for most of India would be a highlydistributed set of individual rooftop power generation systems, all connected via a local grid However, removing such an infrastructure, which does not enjoy the economies of scale possible in mass, utility-scale, solar panel deployment, needs the market price of solar technology deployment to substantially decline, so that it attracts the individual and average family size

consumer. This might be possible in the future, because PV is projected to continue its current cost reductions for the next few decades and be able to compete with fossil fuel.

Slow progress
The photovoltaic cells, India has fallen short of achieving the worldwide momentum. India is now in 7th place worldwide in PV cell production and 9th place in solar thermal systems, with nations such as Japan, China, and While the world has progressed substantially in production of basic silicon mono-crystalline the US currently ranked far ahead. Globally, solar is the fastest growing source of energy (though from a very small base) with an annual average growth of 35%, as seen during the past few years.

Latent potential
Some noted think-tanks recommend that India should adopt a policy of developing solar power as a dominant component of the renewable energy mix, since being a densely populated region in the sunny belt the subcontinent has the ideal combination of both high solar insulations and therefore a big potential consumer density. In one of the analyzed scenarios India can make renewable resources such as solar the backbone of its economy by 2050, reining in its long-term carbon emissions without compromising its economic growth potential.

Government support
The government of India is promoting the use of solar energy through various strategies. In the latest budget for 2010-11, the government has announced an allocation of 10 billion towards the Jawaharlal Nehru National Mission and the establishment of a clean energy fund. It is an increase of 3.8 billion from the previous budget. This new budget has also encouraged private solar companies by reducing customs duty on solar panels by 5% and exempting excise duty on solar photovoltaic panels. This is expected to reduce the cost of a roof-top solar panel installation by 15 20%. The budget also proposed a coal tax of US$1 per metric ton on domestic and imported coal used for power generation additionally; the government has initiated a Renewable Energy Certificate (REC) scheme, which is designed to drive investment in low-carbon energy projects. The Ministry of New and Renewable Energy (MNRE) provides 70 percent subsidy on the installation cost of a solar photovoltaic power plant in North-East states and 30 percentage subsidy

on other regions. The detailed outlay of the National Solar Mission highlights various targets set by the government to increase solar energy in the country's energy portfolio.

SOLAR POWER ENERGY Advantages of solar power plant from other renewable sources
Sunlight helps plants to generate food for them during the process of photosynthesis. Solar power energy free of cost energy source helped people store their food for longer when refrigerators were not in use, people used it for killing germs in clothes and most importantly this useful star provides us vitamin D to support healthy growth of our bones. Nowadays the practices of using solar energy are changing as it has been identified as an inexpensive way to produce electricity.

Storage of Solar Energy: How Solar Energy is Stored

While producing electricity from sun is also termed as a renewable solar energy source. Renewable energy source refers to all those energy sources other than traditional biofuels. Solar energy is of many uses. When the process of generating electricity was under consideration, the major challenge was to store solar energy to be used later in night, storms and rains. Hence useful devices like solar panels, solar heating systems and solar cells supported this immense challenge. Solar energy can be used unless we have sun. Hence all the solar power applications can help us utilize solar energy rays to produce electricity for supporting personal, domestic and industrial applications. Now it is possible to store solar energy in batteries which are attached to the solar powers panels. The electricity generated through solar energy process can be used with or without traditional utility grids. Another experiment carried at the red sea demonstrated that solar energy can also be stored in the beds of salt to support solar heating systems.

Cost Effective Solar Power Plants

Another crucial advantage of solar power energy is the production of electricity in a very cost effective way. Cost effective solar plants are considered low cost because they provide quick and efficient way to generate electricity in few hours. To produce electricity from solar energy has to install a solar panel with a backup battery set hence the solar power system is ready to provide you electricity for power supported devices. Solar power energy is considered cost effective because it has replaced the most expensive energy sources like oil and natural gas. Solar energy is free and it is abundant therefore there is no need to buy solar energy. Hence even domestic users can operate and make their own solar power houses deploying in house solar power energy systems. Also there is no maintenance cost

RESEARCH METHODOLOGY

The methodology involves the gathering of data for the project is basically from two sources i.e. secondary and primary sources.

Primary sources:
The primary source for the collection of data was discussion from the executives of C&S electrics and few employees.

Secondary sources:
The secondary source of data collection was through annual reports annual reports of the company. The other means were electronic sources i.e. internet.

FINDINGS OF THE STUDY

COMPONENT AND THEIR COST FOR INSTALLATION OF SOLAR POWER PLANT (1 MW) in C&S ELECTRIC LTD.

MODULE INVERTORS MOUNTING STRUCTURE JUNCTION BOX

=Rs. 9 - 9.5 cr. =Rs. 1 cr. (Inclusive excise duty) =Rs. 1 cr. =Rs. 25 lacs.

TRANSFORMER AND PROTECTION EQUIPMENT =Rs. 2.5 cr.

FUTURE PROJECTIONS:First year

ESTIMATED PROFIT & LOSS Income (Revenue) Expenditure Plant cost Operation & maintenance cost Amount taken from bank (@12%) Depreciation (6% ) Resolution value (10%) Working capital Net loss EBITDA AMOUNT (in Rs.) 25,00,00,000 I4,00,00,000 25,00,000 11,00,00,000 84,00,000 1,40,00,000 50,00,000 (2,99,00,000) 14,83,00,000S

Second year

ESTIMATED PROFIT & LOSS Income Expenditure Operation & maintenance cost Interest (12%) Depreciation (6%) Resolution value Working capital Net profit EBITDA

AMOUNT (in Rs.) 27,50,00,000 25,00,000 13,20,00,000 5,04,000 14,00,000 40,00,000 13,45,96,000 26,71,00,000

Third year

ESTIMATED PROFIT & LOSS Income Expenditure Operation & maintenance cost Depreciation (6%) Resolution Value Working capital Net profit EBITDA

AMOUNT (in Rs.) 30,00,00,000 25,00,000 30,240 1,40,000 30,00,000 29,33,29,760 29,33,60,000

Fourth year
ESTIMATED PROFIT & LOSS Income Expenditure Operation & maintenance cost Depreciation (6%) Resolution value Working capital Net profit EBITDA AMOUNT (In Rs.) 31,50,00,000 25,00,000 1,814.4 14,000 20,000 31,25,35,814.4 31,25,37,628.8

CONCLUSION

On the basis of the study of solar power plant it can be concluded that for installing solar power plant there is lot of expenses involved. But in India there is a huge source of solar energy so it can be utilized to a great extent.

In this study I have given the future projections of the solar power plant and gained lot of experience in working in C&S ELECTRICS LTD. I gained opportunies to explore in the corporate world.

BIBLOGRAPHY

1. RESEARCH AND DEVELOPMENT OF C&S ELECTRICS 2. SOLAR POWER PLANT PROJECT TEAM 3. WEBSITEwww.c&selectrics.ac.in www.solarpower.in
www.wikipedia.com