RESEARCH PROJECT REPORT

ON
“STUDY OF EMPLOYEE SATISFACTION LEVEL IN VARDHMAN
TEXTILES Ltd.”
SUBMITTED FOR THE PARTIAL FULFILLMENT OF THE DEGREE
OF
BACHELOR OF COMMERCE (G)
of
MAHARAJA AGRASEN UNIVERSITY
By
Vaibhav Sharma
MAU15UCO009
B.COM VI SEMESTER
UNDER THE SUPERVISION OF
Ms. Promila Raita (Assistant Professor)
Maharaja Agrasen School of Management, Baddi
2018
 Certificate of Supervisor

This is to certify that Mr. VAIBHAV SHARMA Roll No.

MAU15UCO009 has completed the research project titled
“STUDY OF EMPLOYEE SATISFACTION LEVEL IN VARDHMAN
TEXTILES Ltd. ” under my supervision in partial fulfillment of the Degree
of BACHELOR OF COMMERCE, Maharaja Agrasen University
Baddi.

Supervisor’s signature:

Name of Supervisor:

Supervisor’s Designation:
Date:
Place:
 Declaration

I, hereby declare that the research project report titled

“STUDY OF EMPLOYEE SATISFACTION LEVEL IN VARDHMAN TEXTILES
Ltd. “is my own original research work and this report has not been
submitted to any University/Institute for the award of any professional
degree or diploma.

Vaibhav Sharma
B.com (VI)
Maharaja Agrasen School of Management

Date:

Place:
 Acknowledgements

I express my sincere gratitude to _____________________________________and

______________________________for providing me an opportunity to work on
this project. I am very grateful for their constant support and guidance throughout
the duration of the project. I express my sincere thanks
to_______________________ and our present summer internship
coordinator___________________________for their guidance and support. I also
express my thanks to _________________________for their encouragement and
guidance. Lastly, I thank my parents, family members and friends for their constant
support in my endeavor.

Vaibhav Sharma
  SCOPE OF INDIAN TEXTILE INDUSTRY
  
COMPANY PROFILE
  
Introduction to Employee Satisfaction
  
Objectives of the study
  
Review of literature
  
Research methodology
  
Limitations
  
Data analysis and Interpretation
  
Findings
  
Recommendations
  
Conclusion
 
Bibliography
 INDIAN TEXTILE INDUSTRY


 Textile
 accounts for 14 % of India’s industrial production and around
27%
of its exports earnings.


Industry uses a wide variety of fibers ranging from natural fibers to
manmade fibers.


 people, by
Providing direct employment to an estimated 35 million
contributing 4% of GDP and 14% of value addition in
manufacturing
sector.


It is the second largest employer after the agriculture sector in both
rural and urban areas.

Almost all sectors of textile industry have shown significant
achievement.
 SEGMENTS OF INDIAN TEXTILE INDUSTRY

•Woolen Textile
•Cotton Textiles
•Silk Textiles
•Readymade Garments
•Jute And Coir
•Hand-Crafted Textile Like Carpets
•Man Made Textiles
 VARDHMAN TEXTILES LTD.
COMPANY PROFILE

Registered office/ corporate office : Chandigarh Road

(Ludhiana, Punjab)

Date of incorporation : 27 December, 1962

Listings on Stock Exchange : Bombay Stock Exchange,

National Stock
Exchange
(Mumbai)
 Historical Background of Vardhman
Group

  


The Vardhman Group was setup in 1962


Humble beginnings in 1965 at Ludhiana with a
SpinningMill with an installed capacity of 14,000

 Spindles



 
In the year 1986 the group entered the sewing


thread market with its plant at Hoshiarpur.


In the year 1986 Vardhman acquired Mohta
 as Vardhman Special
Special Steels is known
Steels, Ludhiana.
 
Vardhman commissioned our yarn unit in 2007 –with an
initial capacity of 30000 spindles. The Unit is well on its 

 way of achieving the ultimate capacity of 223416 spindles.



The integrated Unit of the group –Vardhman Fabrics - has

 also been commissioned in 2007.



The Group is, now, one of the largest textile conglomerate
 
in the country with a turnover of about Rs. 2767 Crores
 (2009-10).



The Group presently (2009-10) with an installed capacity of
8.59 Lac spindles, 3768 rotors, 900 air jet looms
Listed Companies
•Vardhman Textiles Limited (formerly Mahavir Spinning Mills Limited)

•Vardhman Acrylics Limited

•Vardhman Holdings Limited (formerly Vardhman Spinning

& General Mills Limited)

Unlisted Companies

•VMT Spinning Company Limited

•Vardhman Yarns and Threads Limited

•Vardhman Texgarment Limited

 LOGO OF VARDHMAN GROUP

The “Flame” signifies Growth

The “Stick” symbolizes cotton that is the Basic

Raw Material of the Core Product of Vardhman.

The “V” stands for the Vardhman Group.

 MISSION

 World
Class Textile Organization producing diverse range of
Products for the global textile market.


Committed to be a responsible corporate citizen.

“BEING WORLD CLASS SPINNERS BY PROVIDING HIGHEST

QUALITY PRODUCTS WITHIN MINIMUM COST”.
 Vision

Vardhman – Rooted in Values, Creating World Class Textiles

•Superior Products, High Standards of Quality and Performance,

•Distinctive Competitive Strategies and Highest Integrity
and Commitment of the people.
 PRODUCTS

Sewing Thread Fabrics YARN

STEEL ACRYLIC FIBRE

 BOARD OF DIRECTORS

Chairman and Managing Director Mr. S P Oswal

Managing Director, Vardhman Yarns and
Mr. D L Sharma
Threads Limited
Managing Director, Vardhman Acrylic Limited Mr. B K Choudhary
Executive Director, Vardhman Textiles Limited Mr. Sachit Jain
Executive Director, Vardhman Textiles ltd. Ms. Suchita Jain
President and Director (Incharge Baddi
Mr. I M J S Sidhu
operations)
Executive Director, Vardhman Textiles ltd. Mr. Neeraj Jain
Chief Executive,Vardhman Spinning and
Mr. V. K. Goyal
GeneralMil
Chief Executive Financial Controller, Vardhman
Mr. D.K Sindwani
Spinning & General Mills Limited
 GLOBAL INTERNATIONAL ALLIANCE

Product/Process Global Partners

Fabric Dyeing and Finishing Takai, Senko, Japan

Fibre and Yarn Dyeing Nihon Sanmo Dyeing Corporation

Ltd., Japan

Gassed Mercerized Yarns Kyung Bang, South Korea

Sewing Thread American & Efrid Inc., USA

Acrylic Fibre Marubeni Corporation & Japan

Exlan, Japan
 THE CORPORATE OFFICE

Being in November 1995.

Chairman and Managing Director’s office Managing Director’s office

Executive Director’s office Corporate MIS department

Corporate Finance & Accounts department Corporate Taxation department

Corporate HR & Personnel department Corporate Raw Material dept

Corporate Secretarial department Central Marketing Yarns dept

Corporate Law department Corporate Exports department

Corporate Projects & Purchase department Corporate Internal Audit dept

Corporate Commercial department

 Functional departments housed in Corporate Office

Department Head of the department

Corporate MIS Mr. Neeraj Jain

Finance and Accounts, Taxation and

Mr. Rajiv Thapar
Secretarial

Central Marketing Yarns Mr. Vijay Puniyani

Exports Mr. Harinder pal Singh Rana

Projects & Purchase Mr. D.S. Kalra

Internal Audit Mr. Deepak Sood

Law and Commercial Mr. Rajesh Chopra

EDP & IT Mr. Z.S. Choudhry

HR Ms. Suchita Jain

Raw Material Mr. I.J. Dhuria

 HR DEPARTNMENT

The major functions of the department can be explained as follows –

•Recruitment
1.Scheme recruitment (on campus and off campus - ET recruitment)
2.Direct recruitment

•Salary administration for corporate office and for all employees across t
Group falling in M4 and above

•Training and development

•Performance management

•Wage studies (workers)

•Getting the joining formalities done for employees joining in

Corporate office
•Exit formalities
1.Clearance / no dues forms
2.Exit interviews
3.Farewell

•Loan applications (general / furniture / vehicle)

•Administration

•Medical insurance (medical and group term)

•Summer trainees

•Handling internal queries / grievance of employees

 SWOT ANALYSIS OF THE VARDHMAN GROUP
•Strengths:-
1.Good Brand Equity

2. Good technological base with Foreign Collaboration

3. High Quality Standards

4. High Production Capacity

5. Commitment for growth

•Weaknesses:-
1.Comparatively high prices

2. Lesser degree of promotional activity

3. Long Hierarchy
•Opportunities:-
1. As brand image is very good ,Vardhman can have some
good customers.
2. Strict payments are strengths at times as well as weakness.
3. Customers shall be attracted to buy more and regularly.
4. Shortened hierarchy shall provide hope for better
customer service.

•Threats:-

1.Smaller players in the market are using Vardhman’s process

to push their product at lower prices.

2. Companies from south are entering into Ludhiana market.

3. Capacity of Yarn Spinning is increasing rapidly in comparison

to increase in market size, resulting into the addition of new
players.
 INTRODUCTION TO EMPLOYEE SATISFACTION

Need of Employee Satisfaction

Survey


Rapidly growing organization

High or growing turnover rate

Highly competitive industry

ELEMENTS OF JOB SATISFACTION

Importance of employee satisfaction in an organization

 Objectives of the Study

• To identify the factors which influence the Job

satisfaction of employees.

• To observe the Human resource development in the

Vardhman Textiles Limited at Corporate Office.

•To suggest measures to improve the Satisfaction level

of employees.
 RESEARCH
METHODOLOGY

RESEARCH DESIGN
In my research , Descriptive research design have followe

DATA COLLECTION
primary data.
Primary data is collected by Questionnaire.

Sample Design and Size

Sample size is 100 employees
Sampling frame:
Sample frame = ALL Employees of different
department at Corporate Office

Sampling technique

• Snowball Sampling.
• Convenience Sampling.
 Limitations of the Study

1. TIME

2. AUTHENTICITY OF FEEDBACK

3. ATTITUDE AND BEHAVIOUR

4. LIMITED KNOWLEDGE :-
Data Analysis and
Interpretation
N=100 Table 4(a).1Belongingness to the Department

DEPARTMENT NO. OF RESPONDANTS PERCENTAG

E
MIS 7 7
FINANCE 17 17
MARKETING 11 11
EXPORT 15 15
IT 5 5
RAW MATERIAL 11 11
COMMERCIAL 7 7
LAW 4 4
INTERNAL AUDIT 6 6
SECATRIAL 6 6
HR 11 11
N=100 Table 4(a).2 Working Experience of an Employee in an Organization

WORKING EXPERIENCE NO.OF PERCENTAGE

RESPONDANTS
Less than 2 year 29 29
2-4 year 34 34
4-6 year 15 15
More than 6 year 22 22
 Table 4(a).3 Job Suits Your Educational Qualifications
and Career Abilities
N=100
Job Suits Educational Qualification and Career
Abilities

20%

Yes
No

80%
N=100 Table 4(a).4 View the Job

View the job Cumulative sum Percentage

(a) Challenging 49 27.07
(b) Responsible 76 41.98
(c) Motivating 30 16.57
(d) Secured 26 14.36
 . Table 4(a).5 Rank the attributes of Job Satisfaction

N=100 Job Satisfaction Cumulative sum

factors
Work Environment 206
Salary Structure 405
Job security 302
Superior 338
Subordinate
Relations
Motivational factor 394
Leadership 455
N=100 Table 4(a).6 Level of Satisfaction Regarding Work
Environment

Level of -2 -1 0 1 2 Total Mean

satisfaction Highly Dissatisfied Neutral Satisfied Highly
dissatisfied Satisfied
Work 0 7 23 61 9

Environment 0 -7 0 61 18 72 .72

Level of Satisfaction
MEAN, 0.7
2
0.8

0.6
MEAN
0.4

0.2

0
1

Work Enviornment
N=100 Table 4(a).7 Level of satisfaction regarding the Team

Spirit, Leadership Skill in your department

Level of -2 -1 0 1 2 Highly Total Mean

satisfaction Highly Dissatisfied Neutral Satisfied Satisfied
dissatisfie
d
0 6 27 58 9
Team Spirit,
0 -6 0 58 18 70 .70
Leadership
Skills
N=100 Table 4(a).8 Satisfaction level towards Job Security

Level of -2 -1 0 1 2 Total Mean

satisfaction Highly Dissatisfie Neutral Satisfie Highly
dissatisfie d d Satisfie
d d
0 1 30 48 21
Job security -1 0 48 42 89 .89
0
Level of Satisfaction

1
MEAN

0.8

0.6
MEAN, 0.89
0.4

0.2

0 JOB SECURITY
N=100 Table 4(a).9 Satisfaction Regarding Present Position in the
Company

Satisfaction Regarding Present Position of

the Company

No

Number of responses

Yes

46 47 48 49 50 51 52 53
N=100 Table 4(a).10 Company clearly Communicates its strategies, goals To
Employees

Company Clearly Communicates its

strategies, goals to employees

35%
Yes

No

65%
N=100 Table 4(a).11 Company spend reasonable time, efforts, money in
Human Resource Development of Employees

Company spends Resonable Time, Efforts, Money

in the development of Employees

29%

Yes

71% No
N=100 Table 4(a).13 Quality of Training and Development given to
Employees

Quality Of Training given to the Employees

100

90

80

70

60

50
Number of responses
40

30

20

10

0
Yes No
N=100
Table 4(a).14 Kind of facilities are provided to employees

Facilities Cumulative sum Percentage

(a) Housing facilities 11 5.61
(b) Medical facilities 52 26.53
(c) Life Insurance
55 28.06
facility
(d) Transport facilities 17 8.67
(e) Salary Structure 31 15.81
(f) Retirement Benefit 22 11.22
(g) Education facility 8 4.08
N=100 Table 4(a).15 Satisfaction level towards facilities Provided in the

Organization

Facilities -2 -1 0 1 2 Total Mean

Leave 3 22 30 45 0
-6 -22 0 45 0 17 .17
Housing 5 30 54 7 0
-10 -30 0 7 0 -33 - .33
Life 1 12 47 40 0
-2 -12 0 40 0 26 .26
Insurance
Educational 5 28 49 19 0
-10 -28 0 19 0 -19 -.19
Assistance
Retirement 6 27 46 19 0
-12 -27 0 19 0 -20 -.20
Health 3 27 29 39 2
-6 -27 0 39 4 6 .06
Transport 6 30 45 18 0
-12 -30 0 18 0 -24 -.24
N=100 Table 4(a).16 Level of Satisfaction derived from various
factors

Level of -2 -1 0 1 2 Total Mea

Satisfaction n
Monetary 35 21 6
7 31 0 21 12 -12 -.12
Incentives
-14 -31
Growth and 2 35 33 3
Opportunitie -4 27 0 33 6 8 .08
-27
s
Performance 4 22 32 38 4 16 .16
-8 -22 0 38 8
Appraisal
 Table 4(a).17 Level of Satisfaction regarding Interpersonal Relations
at Work
N=100 Level of -2 -1 0 1 2 Total Mean
satisfaction Highly Dissatisfie Neutral Satisfie Highly
dissatisfie d d Satisfie
d d
Interperson 0 1 21 6
0 -1 0 72 12 83 .83
al 72
Relations Level of Satisfaction

0.8
0.4 Mean, 0.83
mea
n

0.6

0.2
0

Interpersonal Relations
 Table 4(a).18 Superior provide you proper feedback about the work

GRAPH Your Superior Provide You Proper Feedback

About Your Work

16%

Yes
No

84%
Table 4(a). 19 Feel any stress with the Job.

Feel Stress with the Job

Yes No

No 73

Yes 27
 Table 4(a) 20. Overall Satisfaction level with the Job

Level of -2 -1 0 1 2 Highly Total Mean

satisfaction Highly Dissatisfied Neutral Satisfied Satisfied
dissatisfied

1 5 41 50 3
Overall
-2 -5 0 50 6 49 .49
Satisfaction
FINDINGS
VTL – Group Structure
Vardhman Textiles
Limited (VTL)
1973

Yarn, Fabric
Revenue: Rs. 58,871.5 mn #
(US$905.7 Mn)
Listed on BSE, NSE

Vardhman Yarns & Vardhman Acrylics VMT Spinning Co.

VSS Ltd VNG Co. Ltd.
Threads Ltd (VYTL) Limited (VAL) Limited (VMT)
VTL Stake 51% 74.28% 89% 31% 51%

Business RMG / Industrial / Speciality

Acrylic Staple Fibre 100% Cotton Yarn Special Steels Garments
Threads
Capacity
41 tpd threads
20,000 tpa 46,320 spindles Rolling 150,000 mtpa 1.80 mln pieces
Revenue # 71k spindles (captive)
Rs. 7,106 mn Rs. 5,142 mn Rs. 1,704 mn Rs. 6,690 mn Rs. 472 mn
Collaborations (US$ 109.3 Mn) (US$ 79.1 Mn) * (US$ 26.2 Mn) (US$ 102.9 Mn) (US$ 7.3 Mn)
A&E, USA - Marubeni, Japan - Nisshinbo, Japan
Market Status

Unlisted Listed on NSE & LSE Unlisted Listed on BSE & NSE Unlisted

* Including Trading Turnover Rs. 1,530.7 million

# Standalone revenues as on 31st March 2015 All currency conversions in the presentation has been done at 1 US$ = INR 65
Group also has two investment companies VTL Investment Ltd and Vardhman Holdings Ltd. other than the above companies, out
6
of which Vardhman Holdings Limited is a listed company.
Vardhman Textiles Ltd. – Core Competencies

● Cotton Procurement Policy

● Employee Engagement & Culture of innovation
● Economies of scale and Operational Efficiencies
● Customer Oriented approach
● Focus on diversified and Value added products
● Technology up gradation and continuous process improvement
● Integrated Business
● Financial Strength
● Strong Credit Rating
7
Manufacturing Facilities & Capacities

Yarn • 1 Million+ Spindles

Ludhiana, Pb.
Fabric • 1320 Looms
Baddi, H.P.
Hoshiarpur,
Malerkotla, Processing • 110 MMPA
Acrylic
• 20,000 TPA
Fiber
• 71 TPD
Dyeing
Sewing
Jhagadia, GJ • 41 TPD
Threads
Budhni, M.P.
Satlapur,
Visakhapatnam, A.P.
Steel • 120,000 TPA (Rolling
Mandideep, and Billets)
• 1.80 Million Pieces PA
Garments
Perundrai, T.N. Power
• 50 MW
Plant

Offices Manufacturing Facilities 8

Textiles Value Additions Through Supply Chain

• Yarn: 30 combed yarn

• Fabric: Twirl bottom weight fabric Exchange Rate: Rs 65/$

9
Yarn Business – Key business driver

● The largest spinning capacities in the country with

1.00 MN+ spindles

● 12 production plants located in the states of

Punjab, Himachal Pradesh and Madhya Pradesh

● Technical tie-ups with the well recognized global

corporate’s from Japan and Korea.

● De-risked business through value added and

specialized products

● A third of the total yarn production is exported, a

third is sold domestically and remaining third is
used to feed the captive looms.

● Focus on automation and to further diversify

customer base.

10
Hand-knit Yarn Business

● Market leader in hand-knit yarn category

● 40% share of the organised sector and 30% of the total market.

● Pan India total outlets approx. 4,000. with Vardhman present at around 1,800 retail outlets in
650 cities/towns.

● Patronage of ~6.0 million consumers across country

● Technology upgradation ,new product development and innovative marketing strategies – keys to success
● 45 sub brands in various packaging categories under vardhman knitting yarn umbrella brand.
● Effective use of electronic and print media for mass communication.
● Staying in-vogue – new designs introduced every year depicting latest fashion trends
● Consumer/dealer friendly approach

11
CONCLUSION
 SUGGESTIONS AND RECOMMENDATIONS


Company needs to revise the pay scale of the employees.

Timely and adequate increments should be there for the employees.

Organization should provide better Housing, Retirement
benefits, Educational Assistance, Leave, Health,
transportation facilities.


Employee motivation should be encouraged.

Interpersonal relations should be more developed.
Superior subordinate relations should be fine and hierarchy
should be shortened


Time to time profile changes for the employees

There should be job rotation for the employees in all dept , so the
employees can know all other activities