Jitendra Virahya s

JVIRAHYAS@GMAIL.COM

A Project Study Report On Training Undertaken at

J.K.CEMENT LTD.

Manufacturing Process and Financial Activities

Submitted in partial fulfillment for the Award of degree of

Master of Business Administration

Submitted By:Dr.Sonal jain MBA 3rd sem

Submitted To:xxxxxxxxxxx (HOD)

Deepshikha college of technical education, Jaipur (2009-2011)

PREFACE
As per the requirement of MBA course J K Cement WORKS has been kind enough to permit me to complete my project on Study of J K Cements Ltd. Cement Manufacturing process and financial activities. This report prepared during the practical training. Which is students first and greatest treasure as it is full of experience, observation and knowledge. The summer training was very interesting and gainful as it is close to real what have been studied is all the years through was seen implemented in a modified and practical form. The only fault was that the time available was short and there was much to learn, yet the things learned shall never be oblivion and are of great aid in the near future. I sincerely believe that the research can be useful to the organization and others as well as J.K. Cement Works

ACKNOWLEDGEMENT
I express my sincere to my project guide, Mr. R.P..Singh, Designation General Manager Dept.- HRD & RTC, for guiding me right from the inception till the successful completion of the project .I sincerely acknowledge him for extending their valuable guidance, support for literature, critical reviews of project and the report and above all the moral support he provided to me all stages of this project. I would also like to supporting staff Mr. N.K.Vaishnav officer RTC, HRD Department, for their help and cooperation throughout our project.

(MExxxxxxxxxx)

Executive Summary
The word cement may be defined as a substance, which can join two or more pieces of some other substance together to form a unit mass . cement is a fine power which when mixed with water and allowed to set and harder can join different components together give a strong structure mechanically .thus cement as founding material for bricks or for founding solid particles of different sizes to form a monolith. Cement is an essential commodity ,which is available in two types ,the opc and the ppc .India is the second largest producer of cement . JK cement is having its monopoly in both the market share as well as customer confidence .this is because of its superior quality product and excellent customer services .The company runs round the clock and its policy of maintain is helpful in providing better quality clinker . The company is maintaining its TPM (total productivity maintenance ) policy. TPM of each activity in the industry with special care for profitability with the investment of the employees.

The aim of this study is to identify the Manufacturing Process And Financial Activities for JK CEMENT and to understand the expectation and opinion of retailers and dealer regarding sales of JK cement. At last project will be beneficial for both company as well as reader who want to gain inside knowledge about the Manufacturing Process And Financial Activities of JK cement in cement market. The questionnaire and direct interview were used as the sources of data.The current problem that the company is facing is also identified with probable suggestions are included in the report.

CONTENT
1. Introduction to the Industry 2. Introduction to the Organization 3. Research Methodology 3.1 Title of the Study 3.2 Duration of the Project 3.3 Objective of Study 3.4 Type of Research 3.5 Sample Size and method of selecting sample 3.6 Scope of Study 3.7 Limitation of Study 8 11 69 70 70 70 71 73 74 75

4. Facts and Findings 5. Analysis and Interpretation 6. SWOT 7. Recommendation and Suggestions 8. Conclusion 9. Appendix 10. Bibliography

78 81 89 91 96 97 98

DECLARATION
Mexxxxxxxx D/O Mr.xxxxxxxxxxx declares that the project report titled Manufacturing Process and Financial Activities is based on my project study. This project report is my original work and this has not been used for any purpose anywhere.

xxxxxxxxxxxxx
MBA part III semester

1. INTRODUCTION TO THE INDUSTRY

CEMENT INDUSTRY IN NORTHERN INDIA: 1. Leading position in attractive Northern India grey cement market:
Based on CMA data, Northern Indian cement manufactures have consistently operated at the highest levels of capacity utilization among Indias five regions. We believe this reflects the strong demand in Northern India for cement products relative to supply. Further, based on capacity expansions announced by cement manufacturers, we expect cement plants in Northern India to continue to operate at high utilization levels and anticipate continued strong demand for our grey cement products in the near and medium-term. We believe that we are well positioned to take advantage of this demand, as the fourth largest grey cement manufacturer in Northern India, and the largest grey cement manufacturer in the state of Rajasthan.

2. Second largest white cement producer in India:

White cement accounted for 16.6% of our total cement revenue and 35.2% of adjusted EBITDA from our cement operations in fiscal 2008, and 15.5% of revenues and 38.11% of our adjusted EBITDA from our cement operations in the six months ended September 31, 2009. Unlike grey cement, the white cement industry in India is highly concentrated with the two largest players accounting for the substantial majority of Indias production capacity. Consequently, prices of white cement have been relatively less volatile and sales of white cement have generated more stable cash flows for us even during industry downturns in grey cement. We also believe our position as the second largest producer of white cement in India, together with our nationwide delivery network, significantly enhances the overall brand image of JK Cement.

3. Proximity and access to large reserves of high quality limestone:

Operations, which we believe are sufficient to sustain our operations well into the future. Based on independent geological surveys of different mines during 1996 to 2001, we believe that our limestone reserves are sufficient to support our current and planned capacity for approximately 40 years for both grey and white cement. (Put in risk - assuming we are able to renew our existing leases upon their expiry) As one of the first cement producers in Northern India, we were able to choose our limestone reserves in an area with high quality limestone resources. In addition to allowing us to produce white cement, which requires high quality limestone,

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it also provides us with a cost advantage, as we are not required to purchase sweeteners to improve the quality of limestone. Further, our manufacturing plants are in close proximity to our limestone reserves, resulting in lower transportation costs. Finally, our mines that supply our white cement plant at Gotan also have a supply of white clay, an important additive necessary for white cement production.

4. Quality of products and strong brand name:

We believe that brand name and reputation are important to retail purchasers of cement in India. We have built a strong reputation among cement purchasers by consistently providing high quality products. We believe that there is strong customer awareness of our brands, JK Cement (Sarvashaktimaan), for grey cement in our principal market in Northern India, and JK White (Camel), for white cement across India. Further, we believe that our brand name and our reputation for consistently supplying high quality products provide us with a competitive advantage in ensuring that cement dealers carry our products.

5. Extensive marketing and distribution network:

We have a wide distribution network for grey cement in Northern India. We also have a strong all-India distribution network for white cement. Our distribution network for grey cement products consists of 44 feeder depots serviced by seven regional sales offices in Delhi, Haryana, Uttar Pradesh, Punjab, Rajasthan, Madhya Pradesh and Gujarat. Our white cement network comprises 20 feeder depots serviced by 13 regional sales offices in Delhi, Chandigarh, Uttar Pradesh, West Bengal, Andhra Pradesh, Tamil Nadu, Karnataka, Kerala, Maharashtra, Gujarat, Madhya Pradesh and Rajasthan

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2. INTRODUCTION TO THE ORGANISATION

2.1. HISTORY BEHIND J K CEMENT
The initial "J.K." stands for a father- son team, namely: Juggilal Kamlapath Singhania J .K. organization started in the year 1884 at Calcutta. J .K. started their business as a Financier, Investor, Trading Supplier of cotton belts and manufacturer of small machinery parts like V' belts, etc. They established few small cotton textile industries also. In the year 1914 they shifted their business from Calcutta to Kanpur where they established many big industries like J.K. cotton Mills, Straw product Co, Lohia Mach, J.K. Pulp and Raymonds Woolen, etc. In the year 1934 J.K. organization started one more division, as J.K. Synthetics Ltd. They established various big plants of Nylon, Acrylic fiber, etc. at Kota and Tyre Cord, Chemical and Pesticides at Jhalawar. In the year 1974 under the same division one more unit was started for manufacturing of Grey Cement at Nimbahera. The Present cement factory was commissioned in the year 1974. The plant started its production from 27th Dec 1974.

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Ist plant / kiln was commissioned in 1974 and the capacity of this plant was 900 tonne per day and 3 lakh tonne per year. After modification in Preheater, its present capacity is 1200 TPD.

Expansion of this plant took place in the year 1979, when 2nd kiln was commissioned with a capacity of 1200 tonne per day and 7 lakh tonne per year. After modification in Preheater its present capacity is 1800 TPD.

Again in the third phase, a kiln was erected in the year 1982 and production of this kiln was 1350 tonne per day.

In the year 1988 a new technology was introduced in this 3rd Kiln that consisted of precalcination process, which raised the capacity of this plant to 3400 tonne per day, which was earlier 1350 tonne per day. In Aug.-2003 after again some modification in Preheater and Folex cooler its capacity is increased to 5000 TPD.

Besides, J.K. cement plant is having its own diesel generator sets, producing power to meet the power energy requirements.

Main raw material for cement is LIMESTONE, for limestone we have our own open cast mines adjoining to the plant. Besides we have developed few more mines at Maliakhera, Karoonda and Tilakhera for producing 10,000 tonnes limestone per day as needed.

J .K. Cement erected one more plant from Jan. 2001 with the capacity of 1400 tonne per day at village Mangrol. In Nov.-2003 after modification in Preheater and installation of Mechanical elevator its capacity increased to 2200 TPD.

Due to power shortage as imposed by Ajmer electricity supply board J.K. established its own Thermal Power Plant at village Bamania, near Shambhupura,

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which is generating 15 M.W. power every day, which is consumed by J.K. Cement Plant. J K Cement also has a plant of 400TPD installed capacity of White Cement at Gotan, Nagpur (Raj). J.K. Cement has started the following projects: Cement Project at Karnataka of over 5500 TPD and Thermal Power Plant of capacity 30 MW. Thermal Power Plant at Nimbahera of 22 MW. Waste Heat Recovery Plant at Nimbahera of 15 MW capacity. Bhumi Poojan of Dr Gaur Hari Singhania Technical University at Bhatewar, Udaipur. J.K. cement is one of the most productive, cost efficient cement producing plant in the country, a company, believing in corporate responsibility to society, integrity and fairness. The companys cement is sold under the J.K. Sarve Shaktiman brand name, enjoys good brand image and a price premium. The following types of cements are produced by J K Cement Works. (a) (b) (c) (d) Ordinary Portland Cement (OPC) Portland Pozzolana Cement (PPC) Super Silicate Cement (SSC) Masonry Cement (MC)

J. K. Cement manufactures and markets cement and clinker for both domestic as well as exports markets.

2.2. PRESENT CAPACITY AND PERFORMANCE 2.2.1 CLINKER PRODUCTION

Ist Plant / Kiln IInd Plant / Kiln 1200 Tonne Per Day (TPD) 1800 TPD

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IIIrd Plant / Kiln IVth Plant at Mangrol

5000 TPD 2200 TPD

Total Capacity

10200 TPD

2.2.2 PRODUCTION ANALYSIS TABLE: IN TONS

Year 2005-06 2006-07 2007-08 2008-09 Clinker 3170268 2907196 2917045 3024091 Cement 3511022 3638786 3690726 3646220

2.2.3. FINANCIAL ANALYSIS: IN Million

Year 2005-06 2006-07 2007-08 2008-09 2009-10 22481 Turnover 11087 15297 18128 18765 22222481 22 PBT 522 2720 3466 2340 3112

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1.Net sales increased 22.04% from Rs.1,49,683.56 lacs in 2008-09 to Rs. 1,82,678.47 lacs in 2009-10. 2.PBT increased 33.04% from Rs.23,396.06 lacs in 2008-09 to Rs.31,125.86 Lacs in 2009-10.

2.3 MANAGEMENT SET- UP

2.3.1. Corporate Level- Kanpur
Chairman Managing Director Group Executive President - Dr Gaur Hari Singhania - Shri Y P Singhania - Shri R G Bagla

2.3.2. Unit Head Level- Nimbahera

President - Shri D. Ravisankar J K Organization

J K Cement Ltd.

J K Cement Works (Grey Cement) 1. 2. 3. 4. J K Cement Works, Nimbahera J K Cement Works, Mangrol J K Thermal Power Plant, Bamania ProjectsJ K Thermal Power Project, Nimbahera J K White Cement Works Gotan, Nagaur

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J K Cement Project, Karnataka

2.4. BOARD OF DIRECTORS

CHAIRMAN
Dr. GAUR HARI SINGHANIA MANAGING DIRECTOR & CEO Mr. YADUPATI SINGHANIA LIST OF DIRECTORS Mr. J.P. BAJPAI Mr. K.N. KHANDELWAL DIRECTOR Mr. RAJ KUMAR LOHIA DIRECTOR Mr. ASHOK SHARMA Mr.JAYANT NARAYAN GODBOLE Mr. ACHINTYA KARATI

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GROUP EXECUTIVE PRESIDENT

Mr. R.G. BAGLA (CORPORATE AFFAIRS) AND CHIEF FINANCIAL OFFICER Mr. A.K. SARAGOI PRESIDENT (TECHNICAL AND MANAGEMENT SERVICES) Mr. M.P. RAWAL PRESIDENT PRESIDENT WORKS (GREY CEMENT) Mr. D. RAVI SHANKAR WORKS (WHITE CEMENT) Mr. B.K. ARORA PRESIDENT SENIOR VICE PRESIDENT MARKETING (GREY CEMENT) Mr. R.C. SHUKLA SENIOR VICE PRESIDENT MARKETING (WHITE CEMENT) Mr. V.P.SINGH

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COMPANY SECRETARY Mr.SHAMBHU SINGH

2.5. J K Marketing Organization & RTC North

2.5.1. J K MARKETING ORGANISATION

The head office of Marketing Department of J K Cement Ltd. is at Delhi, which is headed by Sr. V P (Marketing-Grey Cement) and Sr. V P (Marketing White Cement). The White Cement is sold all over India and the Grey Cement is sold in the States of Rajasthan, M.P., U.P., Haryana, Punjab, Gujarat and Delhi. With the commissioning of J.K Cement Project, Karnataka Southern region will also the Covered for Grey Cement.

Marketing team

Grey Cement
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White Cement 101 Members

Works closely with customers to retailers and increase awareness and usage of with cement producers

Co-ordinate with dealer network and direct consumer. Efforts to increase production of blended cement to meet growth in demand

2.6. Regional training Centre North

The Regional training Centre North is a premier training centre of North India promoted with assistance from World Bank, DANIDA and Govt. of India as a unique HRD project in Cement Industry is also attached with J K Cement Works as Lead Plant. It is equipped with modern training aids and caters to the skill enhancement and competency developmental needs of more than 20 cement and other plants. It has trained over 8000 technical and managerial personnel during the last 14 years. The centre has conducted many tailor-made in-house programs for cement and other industries in India and abroad including for Oman Cement, Oman and Star Cement, Dubai.

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RTC has specialized packages / modules in Mining, Process, Maintenance disciplines like Operation & Maintenance of HEMM / Gear Boxes / Pumps / Compressors / / Electrical & Electronics and Equipments / Energy etc. Conservation Environment Management Machinery Alignment,

designed and developed by renowned International / National agencies like FLS Denmark, NCCBM, TATA Interactive Systems, VEC, NITTR, ect. More than 100 senior line mangers form ten plants have been trained at Denmark, NITTR, Bhopal.

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2.7. SOCIAL RESPONSIBILITY

Educational Services : Construction of rooms in Govt. College at Nimbahera. Running JK Institute of Technology, ITI in five trades affiliated to NCVT. Running 10+2 CBSE affiliated School. Running Regional Training Centre for Cement technocrat's aided by WB & DANIDA. Various constructions in nearby Govt. Schools of Chittorgarh District.

We are involved in girls school (under construction) and committed reasonable financial contribution for above.

Medical services

Rs. 36 lacks contribution for the construction of Govt. Hospital at Nimbahera. Ambulance to Govt. Hospital. Free facility of pathological laboratory for the persons of surrounding area. Financial contribution to various NGOS for medical camps in the district. Financial contribution for construction of dispensary & health centre in nearby villages.

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Free Homeopathic consultancy/medicines for the patients of nearby area.

Religious services :
Radhakrishna tempie at colony premises. Prayer hall in hanuman temple in Nimbahera. Bheemkeshwar temple in staff colony. Dharmashala at Bhanwarmata (tourist / religious place.) 8 room for Dharamshala at Pashupati Nath temple in Mandsaur (M.P.). Various temples in Number of nearby villages.

Sports services
Sports infrastructure like wooden badminton court, table

tennis court, billiard room, and cricket ground, volleyball ground in colony campus. badminton tournaments. Sponsoring inter-district tournament. Arranging summer camps for various sports. Sponsoring all India. youth football, volleyball and

Other social services

Construction of approach roads in and around villages of mining area.

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Digging of tube wells. Supply of tube well pumps. Construction of water tanks. Supply of drinking water in tankers in nearby needy places during summer. Regular plantation in plant, colony and nearby villages. Direct and indirect employment to thousands of persons of surrounding area. Financial helps to NGOS. Financial aid to organize religious festivals by municipal board.

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CEMENT MANUFACTURING PROCESS:

There are three production lines involving five significant manufacturing stages, namely crushing, raw meal grinding, clinkerisation, cement grinding and packing. At crushing stage, run of limestone mines is crushed to desired size so as to achieve optimum grinding efficiency in the Raw Mills. Crushed limestone is stacked by stacker in a stockpile and reclaimed by means of a reclaimer. The stockpile serves as a buffer stock storage. Partial quantity of laterite & bauxite is also added during crushing. In Raw Mill, crushed limestone with late rite is fed through weigh feeders. The feed quantity and ratio of feeds are controlled based on the chemical analysis results from QCX (X-ray) / Laboratory. The raw material is ground in ball mills and the fineness (residue) is controlled by separator damper control. The raw material is also ground in VRM where finances is controlled By separator's speed. The ground raw meal is blended for homogeneity and stored in raw meal storage silo or in C.F. silo. Clinkerisation is the heart of cement manufacturing process, where the raw meal is fed to the preheater at controlled rate through electronic weigh feeder and / solid flow meters. The feed enters the kiln though cyclones (for Unit I, II) and through Precalciner (for Unit III) and the fuel is fired at the kiln outlet end (also in precalcienr for unit III) The counter current of hot gases against the material flow right from preheater stage to kiln outlet converts

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raw mix to clinker by pyroprocessing stages like calcinations and clinkerisation. The clinker is cooled in coolers. Clinker is transported to clinker yard for storage. Clinker and gypsum are thereafter ground to a specific fineness in bqll mills to produce final product i.e. cement. The blaine (fineness) of cement is controlled by separator's speed in close circuit grinding and by mill fan damper opening during open circuit grinding.

CEMENT
Cement can be defined as any substance, which can join or unite two or more pieces of some other substance together to from a unit mass. Cement, as used in construction industries, is a fine powder which when mixed with water and allowed to set and harden can join different components or members together to give a mechanically strong structure. Thus, cement can be used as a bonding material for bricks or for bonding solid particles of different sizes (rubble masonry) to form a monolith.

HISTORY OF CEMENT
The history of cement is the story of civilization from primitive caves of prehistoric times to the skyscrapers of the modern age. It is said that the use of cement is form the period of use of fire. Egyptians utilized gypsum plaster as cementing material as early as 3000 BC building their monuments. However, It was in 1824 sixty-eighty years after the discovery of hydraulic properties of lime Joseph Aspdin patented his product, which was called "Portland Cement" The plants manufacturing Portland cement outside England were commissioned in Belgium and Germany in 1855. The interest that is evoked in the technology of cement resulted in the development of Rotary kilns in 1886.

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Modern cement is the outcome of the combined research and development efforts of chemists, technologists and architects. The cement technology is an offshoot of the overall development in other industries, technology, constructional activities and knowledge and the availability of raw materials.

TYPES AND USES OF CEMENT

Types of Cement
(OPC) Portland Slag Cement

Application

Ordinary Portland Cement General Construction

General construction and marine works. construction, hydraulic construction &

Portland Pozzolona Cement General (PPC) White Portland Cement marine.

Architectural purposes, decorative work and in manufacturing of titles.

Oil Well Cement

Connecting the steel casing to the walls of gas oil wells at high temperature and to seal porous formations in petroleum industry.

Low Heat Portland Cement

Where low heat on hydrations is required as in mass concrete for dams.

Super Sulphated Cement

In a varity of aggressive conditions like marine works, concrete sewers carrying industrial effluents.

High Alumina Cement

Mainly as refractory cement and as structural material

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giving high early strength development in cold regions.

RAW MATERIAL
Raw Materials :Limestone (calcareous) and clays (argillaceous) are the conventional raw materials mostly used in cement industry. Sometimes sandstone (siliceous), bauxite (aluminous) and iron ore (ferrruginious) are used, as corrective material to maintain desired composition for potential property of clinker. Cement manufacturing process involves Preparation of raw mix by crushing, grinding and blending of raw materials in definite proportions. Burning the raw meal at clinker temperature (14500C) in a kiln. Grinding the resultant clinker to fine powder with certain amount of gypsum to regulate setting of cement. Types of Raw Material It is known that raw meal feed for cement manufacture basically consists of two components Calcium carbonate Alumino silicates

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Due to depletion of cement grade limestone, it is necessary to go in, more and more, for byproducts and waste materials of chemical, metallurgical, coal and other industries as raw material for cement manufacture.

TECHNOLOGICAL ASSESSMENT OF RAW MATERIAL

Raw materials are characterized by (a) (b) (c) (d) Chemical composition Mineral composition Physical composition Mechanical characteristics

Composition of Ordinary Cement :

Ordinary Portland Cement is the basic cement and it has three grades namely 33, 43 and 53 respectively. Limestone is the principal raw material for the manufacturing of cement. Our country has enough reserve of raw material needed in the cement industry. Cement consumption growth is highly correlated to the GDP growth and serves as a leading indicator. More industrial activity and greater purchasing power means more asset formation and construction and thus more consumption of cement.
Ingredient Lime Silica Percentage 64 22 Range 64-68 17-25

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Alumina Calcium Sulphate Iron Oxide Magnesia Sulphur Alkalise

5 4 3 2 1 1

3-6 3-5 3-4 0.1-3.0 1-3 0.2-1.0

PROCESS
Basically there are two types of process for cement manufacturing that is 1.Hydro Processing (Wet Process) 2.Pyro Processing (Dry Process) We are using Pyro Process in JK Cement Works .

1. PYRO PROCESSING
In order to manufacture cement from the raw mix, it is required to heat raw meal to a temperature of 14500C, thus carrying out SINTERING OR CLINKERISATION. The burning process requires an oxidizing atmosphere in the kiln, as in the opposite-case a clinker of brown colour (contrary to the normal greenish-gray) will be formed and the resulting cement will be quicker setting and with lower strength.

1.5.2 Chemical Transformations

During heating of the raw meal to the burning temperature 14500C (clinkerization or sintering) certain physio-chemical processes take place. These include : Dehydration of the argillaceous minerals; decomposition of the carbonates (decarbonisation) or expulsion of CO2 commonly known as (calcinations); reactions in solid phase and reactions with the participation of one liquid phase and crystallizations.

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These processes are influenced by chemical factors in the raw meal (such as its chemical composition), by mineralogical factors (its mineralogical composition), by physical factors (fineness or particle size in the raw meal), homogeneity and other factors. The complete of these endothermic reactions plays a decisive role in quality of the resulting cement.

In per-heater kiln, the first five transformations shows in figure 4.1 will take place in pre-heater tower. The decomposition of limestone and other carbonates will primarily take place in the calciner vessel where the calcinations temperature is maintained by injection of fuel. the last two transformations will take place in the rotary kiln. The carbonate ca CO3 decomposes between 600 8000C to form CaO. Quartz and clay will have started decomposing slightly before that to liberate free reactive Al2O3 and SiO2 The CaO being formed at this stage, now reacts with SiO2 to form C2S and later with more CaO to form C3S Some CaO will also react with Al2O3 and Fe2O3 to form various intermediate components such as CA, C12A7 and others, which will decompose at higher temperature at later stage. C2S content is been to grow steadily during the heating and reach maximum content at approx. 13000C which is a point where liquid phase appears. The major part of C2S is then transformed to C3S in the liquid phase and the final content of C2S in the clinker is less than the content of C3S.

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The basic steps involved in the manufacture of cement are:

Mining Crushing Stacking and reclaiming Raw material grinding Raw meal storage & blending Preheating and burning Clinker cooling Clinker storage Clinker Grinding

Cement storage in silos

Packing & dispatch

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MINING
1.1FUNCTIONS: Planning and executing a systematic exploration programme. Draw scope of drilling campaign. How to carry out survey and perform drilling activities for exploration purpose. Establish system for computerized mine-planning in order to ensure supply of limestone with consistent quality. Planning and executing drilling and blasting programme in normal course at site to take optimum output from blasting as well as achieving economy in explosive consumption. (Approximate boulder size : 1.0 M * 1.4 M * 1.1 M) Loading and transportation of lime stone boulders to crusher site. Implementing statutory requirement for safety and environment

1.2 Resources :

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(a) Explosives (B) Equipment : Drilling machines Excavators / Shovels Dumprs Dozers Loaders Operations Drilling and Blasting Loading and transportation

2 CRUSHAER, STACKER & RECLAIMER 2.1 CRUSHER 2.1.1: Purpose Size reduction from 1.0M 9 1.4M * 1.1M boulder to 25mm

size limestone pieces. 2.1.2 Common type of Crushers : Double Toggle Jaw Crusher (Capacity : 400 TPH) : Used as primary crusher.

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 Swing hammer Crusher (Capacity : 200 TPH) used as secondary crusher. Compound Impactor (Capacity : 800 TPH) combined unit of primary and secondary crusher. 2.2 STACKER & RECLAIMER Purpose : Homogenization of crushed limestone.

2.2.1 Stacker : Type of Pile : Longitudinal. Details of Piles : 20000 30000 tonnes per pile. Height of pile upto 11.00 meters. Rated capacity : 1000 tonnes per hour. It varies from plant to plant depending upon the production requirement. The stacker moves on longitudinal rails. 2.2.2 Reclaimer Type : Bridge Scrapper Type. Rated Capacity : 600 tonnes per hour it will vary from plant to plant depending on the production requirement (in TPD) Working Principle :

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 Cuts Stack Pile in slice from parallel to face of pile. Shifting material (limestone) to belt with the help of scrapper.

3 GRINDING

3. INTRODUCTION 3.1 Materials used for grinding Limestone and additives (Raw Mix) Coal and other fuels Clinker 3.2 Feed size of incoming materials Limestone

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 25mm Size for Ball Mills 35 mm Size VRM (Segregated) (Secondary Crusher is used to feed Ball Mills) Coal 25 mm size Clinker 25 to 35 mm size .3.3 Fineness of output materials Raw Mix : 15 17% Residue on 90 #

1.8 2.2% Residue on 200 # Coal Powder : 18-22% Residue on 90 # (For use in Pre-Calciner, there is separate arrangement to grind coal) Cement : 3.4 Grinding Systems Raw Mix : Ball Mill Vertical Roller Mill Combination of Roller Press and Ball Mill 33 Grade 2600 to 2800 Blaine 15 -17 % Residue on 90 #

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 (Generally open circuit is used in wet process and closed circuit is used in dry process. In closed circuit systems, fixed and dynamic separators are used.) Coal and other fuels : Ball Mill Vertical Roller Mill (Closed circuit used) Clinker Grinding : Ball Mill Combination of Roller Press and Ball Mill (Oper circuit and closed circuit used. In closed circuit systems. fixed and dynamic separators are used.

3.5 Materials used for grinding Limestone and additives (Raw Mix) Coal and other fuels Clink

3.6Grinding of Cement :

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In a modern cement plant, the total power consumption is about 100 Kwh/tonne whereas cement grinding process accounts about 40% The quality of final cement product depends on operational mode and parameters of cement grinding plant. Cement has to be ground find enough to meet the requirements for strength properties specified in current standards. As it takes quite long time to determine especially the late strength, the hour-to-hour and day-to-day control of cement grinding has to be based on cement fineness. Strength development of concrete is the result of hydration of the particles. Smaller the particles, larger the specific surface and faster the hydration. Particles coarser than 30-50 microns hydrate very slowly and will only affect late strengths. On the other hand, superfine particle with 2-3 micron size may hydrate before the concrete has been cast and will have limited influence on strength development.

kiln system
4.1 Purpose : To transform Raw Mix into CLINKER through PYRO-PROCRESSING. 4.2 Sections of a Typical Kiln System : KILN feed system.

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Pre-heater (Four stage to Six stage) Pre-Calciner (ILC, SLC) Kiln Cooler (including Clinker Hammer) Planetary Cooler Grate Cooler Type of Cement Grey Cement White Cement

4.3 Processes : Wet Process Semi-dry Process Dry Process

5 PACKING PLANT
5.1 Purpose : To pack cement in appropriate packages suitable for consumption at site. 5.2 Common packs available :

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Grey Cement : 50 Kg Bags Bulk handling of cement has started at selected places e.g. bulk-handling project near Mumbai by ACC. White Cement : 50 Kg and small size packs as per market demand. .5.3 Packers : Mechanical Packers Electronic Packers

6 QUALITY CHARACTERISTICS OF CEMENT

6.1 INTRODUCTION :

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The survival and wellbeing of the cement plants / companies in the market depends upon the quality of product and its cost. Quality and cost together define the value of the product (i.e. cement in this case). The concept of quality has undergone a sea change from mere quality control of the product to total quality management (T.Q.M.) with emphasis on quality defined as "totality of features and characteristics of product / services that bears on its ability to satisfy the stated and implied needs". The quality of the product dependes on varity of factors such as techonology, quality of raw materials and fuels, operations and quality control procedures to produced consistente product. The Broad quality parameters of cement relate of chemical and physical properties as per IS CODE are as mentioned below. 6.2 CHEMICAL PROPERTIES : Loss on ignition (LOI) Insoluble residue (IR) Sulphur trioxide (SO3) Magnesium oxide (Mgo) Total chloride (C1) Lime saturation factor (LSF) Alumina modulus (AM) 6.3 PHYSICAL PROPERTIES Fineness

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 Consistency Setting time initial and final Soundness Compressive strengths (3 days, 7 days and 28 days) Heat of hydration Drying shrinkage (for PPC) PRODUCTS We produce grey cement and white cement. Grey cement produced by us consist of Ordinary Portland Cement ("OPC") and Portland Pozzolana Cement ("PPC"). OPC has three principal grades that are differentiated by their compressive strength, and consist of 53- grade, 43-grade and 33-grade OPC. All our products comply with the quality standards specified by the Bureau of Indian Standards ("BIS"). Our cement products are marketed under the brand names J.K. Cement and Sarvashaktiman for OPC products, J.K. Super for PPC products and J.K. White and Camel for with cement products, which we believe are well known brands in their respective markets. Types of Cement 1. Grey Cement 2. White Cement 3. J.K. Wall Putty : SPECIFICATION GREY CEMENT

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RAW MATERIAL TRADE NAME TRADE MARK PRODUCTS GRADES PACKAGING CAPACITIES MRP

LIMESTONE & GYPSUM SARVSHAKTIMAAN VIJAYSTAMBH 43, 53 AND PPC 50 KG PER BAG Rs. 225-250 PER BAG

GREY CEMENT Grey cement produced by us consists of OPC and PPC. There are also other cements in the market that we do not produce, such as Portland slag cement, oil well cement, sulphate resistant cement, rapid gardening cement, low alkali cement, low heat cement and super finish cement. OPC has three grades that we produce, that ate differentiated by their compressive strengths, expressed in mega pascals ("MPa"), as specified by the BIS. These grades are 53grade OPC, 43-grade OPC and 33-grade OPC, with 53-grade OPC having the highest compressive strength. The customer selects the grade of OPC based on the intended application. Our most poplar cement, by sales volume, is 43-grade cement, with 53-grade cement being used in applications which require high strength characteristics.

ORDINARY PORTLAND CEMENT :

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OPC is produced by inter-grinding cement clinker prepared in a rotary cement kiln with gypsum. Each metric ton of OPC requires approximately 0.95 metric tons of clinker and approximately 0.05 metric tons of gypsum. The range of applications, the physical and chemical requirements specified by BIS and strength of the three grades of OPC are discussed below. 53-grade OPC (IS:12269-1987) : 53-grade OPC is a high strength cement. According to the BIS requirements, 53-grade OPC must have a 28-day compressive strength of no less than 53 MPa. For certain specialized products, such as pre-stressed concrete and certain precast concrete items requiring high strength, 53-grade OPC is considered useful as it can produce high-grade concrete at lower cement content levels. We produce 53-grade OPC by exposing the clinker to the grinding process for longer period of time, which results in a higher density and stronger cement. As the grinding process requires a significant amount of power, finer grinding for the 53-grade OPC requires more power and is therefore priced higher compared to lower grades of OPC. 53-grade OPC can be used for the following applications : 1. Pre-cast concrete items such as paving blocks, tiles and building blocks. 2. Pre-stressed concrete components and 3. Runway, concrete roads and bridges. 43-grade OPC (IS-8112:1989) : According to the BIS requirements, 43-grade OPC must have a 28-day compressive strength of no less than 43 MPa. 43-grade OPC is commonly used in the following applications : 1-cast items such as blocks, 2-tiles and pipes. 3. Asbestos products such as sheets and pipes and

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4. Non-structural works such as plastering and flooring. 33-grade OPC (IS-269:199) : 33-grade OPC has been commonly used for general civil construction work under Norman environmental conditions. According to the BIS requirements, 33-grade OPC must have a 28-day compressive strength of no less than 33 MPa. The increased availability of higher grades of OPC has decreased the use of 33-grade OPC in India and now 43-grade OPC is normally used for general construction work rather than 33-grade OPC. 33-grade OPC is now more commonly used for mass concreting and plain cement concreting and is produced on a made to order basis. It can also be used for plastering and single storey individual houses. PORTLAND POZZOLANA CEMENT : We also manufacture PPC (IS:1489 (Part-1) 1991) under the brand name J.K. Super. PPC is also known as blended cement or silicate cement, and this blended cement has become increasingly popular in the market in recent years. Each ton of PPC requires approximately 0.75 tons of clinker, 0.05 tons of gypsum and 0.20 tons of fly ash, a pozzolanic material that is a by-product of thermal power plants. In the manufacture of PPC, a portion of the clinker is replaced with fly ash. This enables the cement manufacturer to produce a higher quantity of cement per ton of clinker. As a result, the cement manufacturer can increase its production capacity by making a limited investment in grinding capacity without a corresponding investment in earlier stage production equipment such as kilns. Further, the only cost incurred for fly ash is transportation cost from the thermal power plants that generate it to the cement manufacturing site, as fly ash is currently available free of cost. The use of fly ash therefore significantly reduces the overall cost of production of cement. The advantage of PPC is its low heat of hydration and corresponding resistance to exposure to various environmental chemicals such as salt water. It is particularly suitable for marine and hydraulic construction and other mass concrete structures.

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This cement has durability that is equivalent to OPC and can be used most of the applications where OPC is used. As PPC is generally sold at a comparable price to OPC and the cost of production of PPC is comparatively lower, PPC's margins per ton are generally higher compared to OPC. JK WHITE CEMENT : It manufactures cement under the brand names J.K. White and Camel. White cement is produced using a different quality of limestone and is distinguished from grey cement by its white colour. Each ton of white cement requires approximately 1.33 tons of limestone, 0.02 tons of gypsum and 0.2 tons of additives including with clay, feldspar and fluorspar. White cement is typically used in three principal areas of application, as set forth below : Flooring, for the manufacturing and laying of mosaic tiles and as tile fixing grout, wall applications, such as decorative white cement paints and plain and spray plasters; and Other specialized applications including glass fibre reinforced concrete, garden furniture, lamp posts, as pointing for brick and stone works and as pre-cast cladding panels. We sell white cement primarily in the Indian market. We also export white cement to a number of countries, including South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Kenya, Tanzania, United Arab Emirates and Nepal. JK WALL PUTTY : White cement base putty for luxurious and silky interior/exterior finish of your dream home. JK Wall Putty is White Cement based putty for cement plastered walls and ceilings. J.K. Wall Putty is used to fill the uneven surfaces of cement plastered walls and concrete walls. Application of J.K. Wall putty provides smooth and strong finish to the walls for further application of all kinds of paints. The smooth finish gives better look to interiors and exteriors.

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Surface Preparation: The surface should be cleaned to make it free from dirt, dust, grease, oil and paint. All foreign impurities should be removed with a wire-brush. Wall surfaces should be cured so that the surface is saturated with water yet in 'touch dry' conditions. Treatment of New Surface: The new surface requires only soft treatment such as removal of dust, dirt and foreign matter. In case of cracks, voids and damager; it should be patched up prior to application of J.K. Wall Putty with grey/white cement. Treatment of Old Surface: All loose material and/or organic growth must be removed with Putty blade or brush. In case of old painted surface scrub the surface with coarse emery stone/paper. Preparation of J.K. Wall Putty Paste : J.K. Wall putty is a fine powder. Mix slowly J.K. wall putty with approx. 40% water by volume to prepare paste of desired consistency. Mix vigorously for 5-10 minutes for making lump free, uniform and smooth putty paste. Product should be mixed in required quantities to be used within 2-3 hrs of its preparation. Application : Apply uniformly the first coat of J.K. Putty with blade/trowel on the wall from bootom to top. Apply second coat after the first coat has dried completely. Limit the total thickness of 2 coats to 1.5 mm. Allow complete drying and then use fine emery paper to remove the application mark if any. Any kind of paint can be applied on this surface. Use water for curing before applying paint. Precaution : Although J.K. Wall Putty does not contain any toxic material, use rubber gloves while mixing, as prolonged exposure with water may soften the skin resulting in fine cuts/legions due to cement particles. Precaution should be taken to avoid dust inhalation while handling the powder putty. Storage : Store J.K. Wall Putty in a dry place and open the pack just before use. Keep out of reach of children.

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PRODUCTION ANALYSIS TABLE : IN TONS Year 1995-96 2000-01 2005-06 2006-07 2007-08 2008-09 2009-10 Clinker 1753970 1627645 3170268 2907196 2917045 3024091 3050050 Cement 1713202 1807573 3511022 3638786 3690726 3646220 4280500

FINANCIAL ANALYSIS : IN MILLION Year 2005-06 2006-07 2007-08 2008-09 2009-10 Turnover 11087 15297 18128 18765 22481 PBT 522 2720 3466 2340 3112

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COPORATE PROFILE Customer Satisfaction Always invest in Latest Technology Huge Distribution Network Creation Expansion through Balancing Equipment Constant focus on Cost Control & Quality Invest in Managers & Develop People Skills Stability of Executive Management & Low Employee turnover Social Welfare A Priority

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SIGNIFICANT ACCOUNTING POLICIES : 1. Accounting Concepts : The financial statements are prepared under the historical cost convention (except for fixed assets which are revalued) on an accrual basis and in accordance with the applicable mandatory Accounting Standards. 2. Fixed Assets : Fixed assets are stated at cost (including expenses related to acquisition and installation) adjusted by revaluation of fixed assets. 3. Investments: Current investments are stated at lower of cost or fair market value. Long term investments are stated at cost after deducting provisions made for permanent diminution in the value, if any. 4. Inventories: Inventories are valued at "Cost or net realizable value, whichever is lower". Cost comprises all cost of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition. 'First-in-First-out' or 'Average cost' method is followed for determination of cost. 5.Depreciation: i) Depreciation is provided on straight line method at the rates specified in the Schedule XIV to the Companies Act, 1956. ii) Depreciation on additions/deductions to fixed assets is being provided on pro-rata basis from/to the month of acquisition/disposal. iii) Depreciation on additional value of Revalued Assets is provided on the basis of life determined by the valuers. An amount equivalent to depreciation on additional values resulting from revaluation is withdrawn from Revaluation Reserve and credited to Profit & Loss Account.

52

iv) Good will is amortised over a period of ten years. v) Leasehold land is amortised over the period of lease. 6. Retirement Benefits: The Company's contributions to Provident Fund and

Superannuation fund are charged to Profit & Loss Account. Contribution to Gratuity Fund and Provision for Leave encashment are made on the basis of actuarial valuation and charged to Profit & Loss Account. 7. Foreign Exchange Transactions: Foreign currency transactions are accounted at equivalent rupee value earned/incurred. Year-end balance in current assets/liabilities is accounted at applicable rates. 8. Borrowing Cost : Interest and other costs in connection with the borrowing of the funds to the extent related/attributed to the acquisitions/construction of qualifying fixed assets are capitalized upto the date when such assets are ready for its intended use and other borrowing costs are charged to Profit & Loss Account. 9. Provision for Current and Deferred Tax: Provision for Current Tax is made on the basis of estimated taxable income for the current accounting period and in accordance with the provisions as per income Tax Act, 1961. Deferred tax resulting from "timing difference" between book and taxable profit for the year is accounted for using the tax rates and laws that have been enacted or substantially enacted as on the balance sheet date. The deferred tax asset is recognized and carried forward only to the extent that there is a reasonable certainty that the assets will be adjusted in future. 10. Miscellaneous Expenditure: Preliminary expenses are amortised over a period of five years from the year of commencement of manufacturing activity. Deferred Revenue Expenses: Expenses on Mines Development/overburden removal is deferred and amortised over a period of Lease/extraction from Mines.

53

11. Contingent Liabilities : Contingent liabilities are not provided and are disclosed in Notes on Accounts.

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SALIENT FEATURES : First dry process plant in India. Latest process percalcinator technology for clinker UNT II was first PLC controlled cement plant in India Most modern and sophisticated central control room for entire process control form on point . First Fuzzy Logic Control kiln and Cem-scanner for monitoring of Kiln shell temperature in India. On-line quality control by X-ray analyzer First computerized maintenance management system in Indian cement industry Now computerized management system extended to stores, purchase, sales accounts, Personnel functions. Continuous ongoing process of training & development

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SIGNIFICANT HAPPENINGS :The key events in respect of the J.K. Synthetics Ltd. Cement Division and the company are us under : 1975 : The grey cement plant at Nimbahera, with an initial capacity of 0.3 MnTPA, commenced commercial production. 1979 : A second production line was added at Nimbahera, increasing the capacity from 0.3 MnTPA to 0.72 MnTPA. 1982 : A third production line was added at Nimbahera, increasing the capacity from 0.72 MnTPA to 1.14 MnTPA. 1984 : Lime-based white cement plant was established at Gotan, with an initial capacity of 0.05 MnTPA. 1987 : A captive thermal power plant was installed at Bamania. 1988 : A pre-calciner was installed at Nimbahera, increasing the total capacity to 1.54 MnTPA. 1990 : The JKSL Cement Division instituted "Architect of the Year" award. 1994 : (i) The Company was incorporated. (ii) The "Regional Training Centre" for Northern India, Which was established at the Nimbahera plant of the JKSL Cement Division with aid from the World Bank and the Danish International Development Agency, commenced service. 2000 : The total capacity of the white cement plant at Gotan was increased to 0.3 MnTPA as a result of continous modernization and upgradation. 2001 : A new grey cement plant with a capacity of 0.75 MnTPA was installed at Mangrol. 2004 : (i) The Company acquired the J.K. Synthetics Ltd. Cement Division

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(ii) The total capacity of the grey cement plant at Nimbahera was increased to 2.8 MnTPA as a result of continous modernization and upgradtion. 2005 : (i) The Company allotted 7,426,950 Equity Shares to the shareholders of J.K. Synthetics Ltd. pursuant to the AAIFR order dated January 23, 2003. (ii) The Company was listed on the BSE.

2006 : (i) The Company has issued/allotted. 2,00,00,000 Equity Shares of Rs. 10/- eac at a price of Rs. 148/- per share for cash to public aggregating Rs. 296 crores on 9th March, 2006. The issue was made through the 100% book building process. (ii) The aforesaid Equity shares of the Company got listed on the Bombay Stock Exchange Ltd, (BSE) and the National Stock Exchange (NSE) on 13.03.2006. 2008: The company alloted captive powar plant of 7.5 MW at Gotan Captive use. 2009-10: The company capacity in 09-10 3.25 MTPA increased from previous year capacity 2.8 MTPA.

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ANNUAL RESULTS A GLIMPSE

Annual Results 2009 have been published there by a brief view of Annual Results of Sales, Operating Profits, expenses have been given as in following Income Data coupled with profit and loss statements. Interim results 2008-2009. Recommended Dividend of Rs. 5.00 per share The Company's performance during the year ended 31st March,09 as against previous year, have also shown substantial improvement and the Net Turnover has increased by 20% (Rs. 4354 crores vs. Rs. 3633 crores) profit before tax increased by 142% (Rs. 1067 crores vs. Rs. 443 crores). The Earning per share increased to Rs. 37.9 as against Rs. 25.5 of 200607 The Board of Directors recommend a Dividend of Rs. 5.00 per share. The work on the captive power Projects is in advance stage of completion and 75 MW Power Plant will be commissioned in first week of June, 08. The other power projects would be completed in phases within next 4-5 months time. The company expects substantial savings in power cost upon implementation of these Power projects. The refurbishing of the acquired assets of M/s. Nihon Nirman Ltd. has also started and the plant is expected to put into operation in January, 2008. The work on the new green filed cement Plant at Mudhol, Karnataka has also been initiated, and commissioned in December, 2008. The company net profit multiplied by almost seven times from 32.56 crores in 2005-06 to 224.55 crores in 2009-10.

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FINANCIAL ANALYSIS

NET SALES

59

EBIDTA

PROFIT AFTER TAX(PAT)

EARNINGS PER SHARE(EPS)

60

BOOK VALUE PER SHARE

NETWORTH

61

GROSS BLOCK

MAJOR CEMENT PRODUCING STATES IN INDIA

62

63

64

J.K.CEMENT PLANT: NIMBAHERA Interim results :

No. of Months Year ending Net Sales Other Income Turnover Expenses Gross profit Depreciation Intrest Profit Before Tax Tax Profit After Tax Gross Profit Margin Effective Tax Rate % % Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m

31.12.2008 31.03.20 09 3,633 0 3,633 2,927 707 130 134 443 156 287 19.5 35.2 .1 14969 791 18765 12780 1,303 141 118 2340 339 1424 21.9 39

01.03.2010

18268 1918 22481 15426 3,296 524 455 3113 852 2260 21.9 39.1

Net profit Margin

7.9

9.5

12.37

EQUITY SHARE DATA ;

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No. of Months Year Ending High Low Sales per share Eamings per share Cash flow per share Dividends per share Dividend Yield (Eoy) Book value per share Shares Outstanding ( Eoy) Bonus/Rights/Conversions Price/Sales Ratio Avg P/E Ratio P/CF Ratio (Eoy) Price/Book value Ratio Dividend Pay out Avg Mkt Cap. No. of Employees Total Wages/Salary Avg. Sales/Employee Avg. Wages/ Employee Avg. Net Profit employee X X X X % Rs m 000 Rs m Rs th Rs th Rs th % Rs M Rs Rs Rs Rs Rs Rs

31.03.2 008 200 101 124.9 4.7 9.1 1.50 1.0 96.2 69.93 PI 1.2 32.3 16.5 1.6 32.2 10,524 2 412 5,213.0 245.8 194.5

31.03.2009 31.04.2010

231 109 176.4 25.5 30.3 3.50 2.1 117.0 69.93 1.0 6.7 5.6 1.5 13.7 11,888 2 495 7,474.5 300.0 1,082.4

257 123 208.5 37.9 43.8 5.00 2.6 150.4 69.93 0.9 5.0 4.3 1.3 13.2 13,287 2 685 8,763.8 411.7 1,593.8

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Income Data :

No. of Months Year Ending Net Sales Other Income Total revenues Gross Profit Depreciation Interest Profit before Tax Minority Interest Prior Period Items Extra Ordinary Inc (Exp) Tax Profit after Tax Gross Profit Margin Effactive tax rate Net Profit margin Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m Rs m % % %

31.03.2008

31.03.2009 31.03.2010

8,737 94 8,831 1,320 310 582 522 0 0 0 196 326 15.1 37.5 3.7

12,333 288 12,621 3,293 332 529 2,720 0 0 0 934 1,786 26.7 34.3 14.5

14,583 232 14,815 4,157 411 512 3,466 0 0 0 814 2,652 28.5 23.5 18.2

BALANCE SHEET DATA :

No. of Months

31.03.2006

31.03.2007

31.03.2008

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Year Ending Current assets Current Li abilities Net Working Cap to sales Current Ratio Inventory Turnover Debtors Turnover Net Fix assets Share Capital Free Reserves Net Worth Long term debt Total assets Interest Coverage Debt to equity Ratio Sales to assets Ratio Return On assets Return of Equity Return on Capital Exports to sales Imports to sales Exports (fob) Imports (cif) Fx In Flow Rs m Rs m % X Days Days Rs m Rs m Rs m Rs m Rs m Rs m X X X % % % % % Rs m Rs m Rs m 5,094 1,923 36.3 2.6 35 19 9,549 699 2,860 6,725 5,133 14,643 1.9 0.8 0.6 7.7 4.8 9.3 1.0 0.7 90 59 90 4,657 2,148 20.3 2.2 33 18 11,533 699 3,160 8,184 5,577 16,340 6.1 0.7 0.8 16.8 21.8 23.6 0.0 0.0 0 0 0 4,647 3,017 11.2 1.5 29 14 15,473 699 3,902 10,514 6,166 20,206 7.8 0.6 0.7 19.0 25.2 23.8 0.0 1.0 0 151 0

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Fx Out flow Net Fx

Rs m Rs m

69 21

0 0

0 0

ANNUAL REPORT FOR THE YEAR ENDED 31 st MARCH 2010

FINANCIAL RESULTS 2009 Gross turnover Profit before depreciation & taxes Less: depreciation Profit before tax Provision for tax Fringe befefit tax Current tax Deferred tax Profit after tax Add: Balance brought forward from the previous year Less: Transfer to general reserve Less: Proposed dividend on equity shares (Including tax there on) Balance to be carried forward 14489.48 17181.48 15000.00 2863.39 10000.00 4899.22 182645.39 28638.28 5242.22 23396.86 196.50 5568 3397.16 14234.40 13118.47
(Rs. In Lacs)

2010

224806.61 39676.80 8550.94 31125.86 5303 8520 22599.86 14489.40

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OVERALL PERFORMANCE : The year under report has been the first full year of operations of cement units in the Company. The Company achieved profit before tax of Rs. 2340 crores and turnover of Rs. 15047 crores. Earning per share at Rs. 6.37 in the very first year of its full operations indicates the Company's satisfactory performance. The equity issue made in March, 2006, which raised Rs. 296 crores, has also improved the Company's financial strength. Net worth of the Company as on 31.3.2006 was Rs. 354.00 crores compared to Rs. 54.59 crores as at 31.3.2005. DIVIDEND: Your Directors are happy to recommend the dividend @ Rs. 5.00 per share on Equity Shares for the financial year ended 31.3.2008. OPERATIONS GREY CEMENT : During the year under report production of Grey Cement at 35.11 lacs tons as against installed capacity of 35.50 lacs tons resulted in capacity utilization of 98.9% There has been gradual increase in price realization due to higher off-take supported by growth in demand. This enabled the unit to achieve higher profits inspite of increase in petroleum price and higher freight incidence. WHITE CEMENT : The capacity of white Cement plant has been enhanced by 50,000 M.T. per annum from 28th February, 2006 The production of white cement at 226729 tons during the year resulted in capacity utilization of 74.5% Growth in demand was below expectation and the production was regulated to keep pace with the demand. This had adverse effect upon the profitability of the unit.

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PROJECTS IN PROGRESS : Directors have Taken up various schemes for cost saving and enhacement in capacity in phased manner. Schemes involving capital expenditure of Rs. 236 crores being financed by the funds raised through issue of equity shares made in March, 2006 are (i) Cost Saving Schemes : Power is a major component of cost of production. Company has to rely at present on state grid nd diesel generating sets which are relatively expensive source of power. Due to this the average power cost in our cse is significantly higher compared to other plants who have their own captive power plants. With a view to reduce power cost the Company is implementing three projects (1) 20 M.W Petcoke based power plant (2) 13.2 M.W. Waste heat Recovery power plant which will generate power from gases emitted in production process, and (3) Replacement of existing 7.5 M.W. turbine by a 10 M.W. turbine at Bamania. These power project will generate power at substantially lower cost. Besides Waste Heat Recovery power plant will also generate revenues from carbon trading. These schemes are likely to be comp leted by June, 2008 in phases. (ii) Capacity Enhancement: Gery Cement plants are operating at present at almost full capacity. To capitalize on the high growth in Northern India and to meet increased demand of blended cement,

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Company intends to increase production capacity by increasing the grinding capacity at Nimbahera by 5,00,000 tons which is likely to be implemented by June, 2006.

Company is also in the process of enhancing the capacity of White Cement by 1,00,000 tons per annum in two phases to meet the peak seasonal demand as well as to meet future growth in demand. First phase to increase capacity by 50,000 tons has already been implemented in February, 2006. Second phase is expected to be implemented by June, 2008. (iii) Future Growth plans : Your directors are also exploring the possibilities for putting up new grinding facilities / grass root plant for manufacture of grey cement for which details are being studied in depth.

FINANCE
(a) During the year under report, the Company has allotted 20 million Equity Shares of each at a premium of Rs. 257/- on 31.3.2008 through Public issue made vide prospectus through Book Building Route. The said Issue was subscribed by 1.815 times (b) During the year, Company raised Terms Loans aggregating Rs. 40 crore form Indian Overseas Bank and Canara Bank, which have been utilized in repayment of costlier loan. (c) During the year, Company has been sanctioned Working Capital Facility have been increased from rs 70 crore to rs 105 crores. RE-VALUATION OF ASSETS As reported last, the Company had re-valued certain assets at the time of acquisition of Cement undertakings on 4.112004 and accretion on this account was credited to "Revaluation Reserve A/C." During the year, some additional sales tax liability pertaining to the period prior

72

to acquisition date has fallen upon the Company, which has been capitalized and consequently the Revaluation Reserve has reduced.

LISTING OF SHARES: The Company's Equity Shares are duly listed with Bombay Stock Exchange Ltd. and National Stock Exchange of India Ltd. CORPORATE GOVERNANCE: A report on Corporate Governance is enclosed as part of Annual Report along with the Auditor's Certificate on its compliance. PERSONNEL : INDUSTRIAL RELATIONS: The industrial relations during the period under review generally remained cordial at all Cement plants. PARTICULARS OF EMPLOYEES: List of employees getting salary in excess of the limits as specified under the provisions of sub-section (2A) of Section 217 throughout or part of the financial year under review is annexed. PUBLIC DEPOSITS: Your Company has not invited any deposits from public / shareholders in accordance with Section 58A of the Companies Act, 1956.

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CONSERVATIONOF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO. Particulars with regard to Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and out go in accordance with the provisions of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosures of particulars in the Report of Board of Directors) Rules, 1988 in respect of Cement plants are annexed and form part of the Report. COST AUDIT: Cost Audit records have been maintained in respect of Grey Cement and White Cement for the year 2007-08 and cost audit would be completed in respect of these units. DIRECTORS: During the year under report Dr. K.B. Agarwal has been appointed as Additional Directors on the Board of Directors of the Company and he hold office up to the ensuing Annual General Meeting. The Company has received notices u/s 257 of the Companies Act, 1956 from shareholders, proposing the candidature of the office of Director of the Company along with the requisite fees. You are requested to consider therir appointment. Three of yours Directors namely Shri R.K. Lohia and Shri A. Karati , & Shri Ashok Sharma will retire by rotation at the ensuing Annual General Meeting and are eligible for reappointment.

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RESPONSIBILITY STATEMENT The Directors confirm that : (i) In the preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures have been made from the same. (ii)They have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that year; (iii)They have taken proper and sufficient care for maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and (iV)They have prepared the annual accounts on a going concern basis.

75

PERFORMANCE REVIEW STATEMENT Recommended Dividend of Rs. 5.00 Per share. The Company's Board of directors met on 12th May, 09 to review the working of the Company for the year ended 31st March, 2009 and for Jan. Mar. 09 quarter. The Company's performance during the year ended 31st March, 2010 as against previous year, have also shown substantial improvement and the Gross Turnover has increased by 18.5%, Profit before tax increased by 142% (Rs. 1067 crores vs. Rs. 443 crores) The Earning per share increased to Rs. 37.9 as against Rs. 25.5 of 2009-10. The Board of Directors recommend a Dividend of Rs. 5.00 per share. The work on the Captive Power Projects is in advance stage of completion and 20 MW Power Plant will be commissioned in first week of June, 07. The other power projects would be completed in phases within next 4-5 month's time. The Company expects substantial savings in power cost upon implementation of these Power Projects. The refurbishing of the acquired assets of M/s. Nihon Nirman Ltd. has also started and the plant is expected to put into operation by the quarter ending December, 07. The work on the new Green Field Cement plant at Karnataka has also been intiated and will be commissioned in the quarter January-march, 2009.

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PERFORMANCE REVIEW : HIGHLIGHTS (2009 10 vs. 2008 09) There has been marked improvement in the performance of the Company during the year. Highlights of performance during the year ended 31st March, 2010 as against previous year are as under 2009-10 Production Grey Cement (Ton) White Cement (Ton) Gross Turnover (Rs./Crore) Net Turnover (Rs./Crore PBIDT (Rs./Crore) Profit before tax (Rs./Crore) Profit after tax (Rs. Crore) Earning per share (Rs.) 3640823 248880 1529.7 1233.3 1233.3 272.0 178.6 25.54 3511022 226729 1108.7 873.7 136.9 52.2 32.6 6.37 4% 10% 38% 41% 148% 421% 448% 301% 2008-09 % inc. /(dec.)

Quarter Performance :

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(Jan.-Mar.,10 vs. Jan. Mar.,09): Similarly, there has been substantial improvement in the performance of the company during the quarter also. The efforts and steps taken by the Company has started showing positive results. The production of Grey Cement increased by 92, 792 tons in the quarter. This coupled withimproved realization has resulted increase in Net Turnover by 49% (Rs. 366.6 crores vs. Rs. 245.9 crores) while PBIDT has increased by 144% (Rs. 115.1 crores vs. Rs. 47.2 crores) Profit before tax increased by 265% (Rs. 97.2 crores vs. Rs. 26.6 crores) and Net Profit by 274% (Rs. 61.4 crores vs. Rs. 16.4 crores) The Earning per share increased to Rs. 8.78 as against Rs. 2.98 during corresponding quarter of previous year. Highlights of performance during the quarter Jan. Mar., 10 vis--vis the same quarter of the previous year are as under Jan. Mar., 10 Production Grey Cement (Ton) White Cement (Ton) Gross Turnover (Rs./Crore) Net Turnover (Rs./Crore) PBIDT (Rs./Crore) Profit before tax (Rs./Crore) Profit after tax (Rs. Crore) Earning per share (Rs.) 952179 67105 455.8 366.6 115.1 97.2 61.4 8.78 859387 66820 304.3 245.9 47.2 26.6 16.4 2.98 11% 0.4% 50% 49% 144% 265% 274 195% Jan. Mar., 09 % inc./(dec.)

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RESEARCH METHODOLOGY
The main objective of a research is to find out the truth which is hidden and which has not been discovered. According to advance learners dictionary of current English the definition

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of research is:- A careful investigation or enquiry especially through search for new facts in any branch of knowledge R - RATIONAL WAY OF THINKING E -EXPERT AND EXHAUSTIVE TREATMENT S -SEARCH FOR SOLUTION E -EXACTNESS A -ANALYTICAL R -RELATIONSHIP OF FACTS C -CAREFUL RECORDING H -HONESTY AND HARDWORK

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TITLE OF THE STUDY

MANUFACTURING PROCESS AND FINANCIAL ACTIVITIES

DURATION OF PROJECT.
My summer Training duration is 21-6-10 to 9.08.2010

OBJECTIVE OF STUDY

THE RESEARCH OBJECTIVES :(i) (ii) To find out the brand performance of J.K. Cement in the market. To find out the problems of this brand/company. ( iii) To find out the scope of expansion of business by providing more new dealerships. dealers and retailers in the business with

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TYPE OF RESEARCH
RESEARCH:
Research in common parlance refers to a search for knowledge. One can also define research as a scientific and systematic search for pertinent information on a specific topic. In fact, research is an act of scientific investigation. The advanced learners Dictionary of Current English lays down the meaning of research as a careful investigation or inquiry especially through search for new facts in any branch of knowledge. A careful investigation or enquiry especially through search for new facts in any branch of knowledge. It is an academic activity which contributes to the existing stock of knowledge, making for its advancement. It comprises of: data collection, observation, comparison, interpretation and findings. It refers to a systematic method of enunciating the problem. Thus when we talk about research or research methodology we not only talk about research method but also consider the logic behind it.

RESEARCH DESIGN
It is a plan of action to be carried out in connection with the research project. It is the guideline for the researcher to enable him to keep track of his action and to know weather he was moving in the right direction or not. It is the framework or plan for a study that is used as guide in collecting and analyzing the data. It is the blue print that is followed in completing a study. There are various types of research with its pros and cons. Each is meant for its specific purpose. Hence here in this project, I used the descriptive type of research.

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SAMPLE SIZE AND METHOD OF SELECTING SAMPLE

Sample size Sampling units Sampling procedure Research design Data collection method Research instrument Type of questionnaire Type of question Area covered

Total jaipur

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Judgement sampling Exploratory Survey Questionnaire Structured Close and open ended finance office and factory visiting

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SCOPE OF THE STUDY

A big boom has been witnessed in Cement Industry in resent times. A large number of new players have entered the market and trying to gain market share in this rapidly improving market. The research was carried on in Nimbahera. I had been sent at one of the branch of JK CEMENT where I completed my Project work. I surveyed on my Project Topic CEMENT MANUFATURING PROCESS AND FINANCIAL ACTIVITIES on the visiting customers of the Nimbahera Branch of JK CEMENT. The study will help to know the preferences of the customers, which company, mode of investment, option for getting return and so on they prefer. This project report may help the company to make further planning and strategy.

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LIMITATION OF THE STUDY

The research conduct was limited to chittorgarh region only. Due to time constraints, more time could not be devoted to individual respondent. Due to unwillingness of providing any information, the respondents filled the questionnaire casually which might have effected the conclusion. Marketing manager being busy with his job. He was not able to spare enough time for our proper guidance. A busy schedule of dealers / retailers also makes the collection of information a very difficult one. Full district was not covered as this is very tedious job to be done in 7 days. However almost all main areas of the district were covered. The projections are purely based on verbal meetings and may be influenced by unprecedented factors. was a big problem in this survey.

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Q. WHAT IS THE TOTAL SCORE OF JK CEMENT IN INDIAN MARKET?

according to above shown pie-chart we can analyse that J.K. cement have 12% share in Indian market.

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Q. COMPARE THE ADVERTISEMENT PERCENTAGE OF JK CEMENT WITH OTHER CEMENT INDUSTRIES?

This diagram shows the comparative study of advertisement ratio of various cement industries. We can notice that the JK cement industry invest less money in advertisement as compare to other cement industries.

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Q. WHAT ARE THE PREFRENCES OF JK CEMENT IN CEMENT MARKET?

From above chart we have analysed that the JK cement have less preference as compare to other cement industries.

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Q. WHAT IS THE PRICE ANALYSIS AND DISCOUNT RATE OF VARIOUS CEMENT BRANDS.

250 200
COMPANY PRICE

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WHOLE SALES PRICE

100 50 0 J.K. BIRLA BINANI BANGUR

CASH DISCOUNT

COMPANY PRICE J.K. BIRLA BINANI BANGUR 206 210 203 202

WHOLE PRICE 202 205 200 200

SALES CASH DISCOUNT 4 5 3 2

According to pie chart shows j.k.cement gives more cash discount to whole saler for more bulk purchasing in compare to another industries.

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4.FACTS AND FINDINGS:

GREY CEMENT : INDUSTRY STRUCTURE AND DEVELOPMENT The Indian Cement Industry is highly fragmented comprising of over 50 cement players and 130 manufacturing plants. The industry is also highly regionalized, as cement units are concentrated in clusters, close to the limestone deposits. Competition is also regionalized since low value commodity makes transportation over long distances un-economical. Cement demand has posted a healthy growth rate of 11.16% in tandem with strong economic growth of the country. The industry capacity was 157 million tons. The industry achieved production of 140.81 million tons compared to 127.57 million tons during corresponding previous year. Growth of 11.16% is substantially higher compared to 8.57% in the previous year. In North India where the Company operates, the demand growth was at 11% The favorable demand supply scenario helped the price realization to improve gradually. Exports also contributed in accelerating the demand growth. These factors resulted in higher export volumes and provided better prices. OUTLOOK INDUSTRY: The prospects of cement industry over medium term are encouraging. Growth in housing sector continued to be the key demand driver on the back of fiscal incentives. Apart from roads, other infrastructure projects like ports, airports, power projects, dam & irrigation projects are expected to perk up cement demand. The Bharat Nirman Yojana for rural infrastructure such as connecting villages with pucca roads, rural housing, irrigation is expected to generate huge demand from rural India. This apart, cement demand will further receive a fillip from significant rise in industrial project. Large Export potential shall also be a major demand driver. The Industry is expected to grow at 8-9% in medium term. Growth in demand in North India is expected to be higher due

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to major construction activities underway for Common Wealth games scheduled in the year 2010. COMPANY : The Company's performance in the current fiscal is likely to show an improvement over last year on account of (a) benefits of improved realizations for whole of the year, (b) additional production due to enhancement in grinding capacity from June, 06, (c) benefits of working capital facilities sanctioned in last quarter of previous year, (d) commissioning of 10 M.W. turbine during later part of the year and (e) further, increase in production of blended cement. RISKS AND CONCERNS : Cement consumption is also a function of macro external factors such as economic growth, government policies etc. The growth in cement demand is directly co-related with economic development. In the highly unlikely event of slowdown in economy or Infrastructure development activities, cement demand could be adversely affected, which may also impact the cement prices. Cement being a bulky material, both input and output transporation cost is significant in the industry. With international crude prices firming up, transportation cost is scaling high and high in the country. Another area of concern is transportation bottleneck due to loading restrictions. The road transportation fleet capacity has to be increased substantially to cater to increasing need of transport of cement and other industries. Further, Cement sector is directly affected by coal shortage. Coal prices too hve been climbing up. Freight, power and coal being major component of cost, any increase in their prices adversely affects the profit margins of the Industry. In the state of Rajasthan various cement units are enjoying different saleds tax benefit anging form 25% to 75% Company gets bendift at lowest slab of 25% and this differential

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benefit affects the margins. In the past J.K. Cement units successfully restricted the impact of increase in the cost of inputs to a large extent by implementation of modernization schemes. J.K. Cement is taking a number of initiatives with relentless thrust on cost reduction, improvement in efficiency and productivity to meet the future challenges. The impact of increase in cost is likely to be compensated by firming up of sale prices due to favourable demand supply equation.

WHITE CEMENT : INDUSTRY STRUCTURE AND DEVELOPMENT :

These are three manufacturers of White Cement in India. J.K. White and Birla White have national presence, while Travancore cement is restricted to the states of Kerals and Tamil Nadu. After levy of anti dumping duty, there have been negligible imports into India. The Domestic White cement industry grew by around 3.6%. There has been growth in the Exports also. OPPORTIUNITIES AND THREATS : White Cement has been low involvement category product, i.e. the general masses have not been involved with the applications of White Cement and still it is considered as high end product of aesthetic use. To involve the masses, there is need to go for mass media to highlight various applications and use of White Cement. As a strategic initiative, Company decided to reach out to RURAL areas for promotion of IN-SITU application. White Cement applications face major threats form competing products, thereby threatening the very existence of such industries. For instance, Mosaic Tile industry has been fcing a battle for survival, with Ceramic tile industry and Marble Stone eating up the market share. Similarly, Cement Paint industry has been feeling the heat due to the entry of new generation Polymer based exterior Paints marketed aggressively by Paint majors.

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SEGMENT-WISE AND PRODUCT-WISE PERFORMANCE : Small pack segment grew by about 14% over previous year. While White Cement Paint industry had showed signs of growth, the Mosaic Tiles industry faced rough weather. Many Mosaic Tile manufacturers shut shops during the year especially in Morvi, Indore, Pune and Mumbai. Designer Tile segment continued to record positive growth and to encash the opportunity several new units have planned to enter the arena. OUTLOOK : Efforts have been made during the year to increase the popularization of White Cement among the general public. Increased level of awareness has been tried through mass media and by personal selling. In states where mass media is unable to reach, marketing field team has been able to penetrate. Rural van shows were organized towards this end on a continuous basis in U.P., Maharashtra and M.P. More such activity is planned in states like Bihar, West Bengal, Orissa, Karnataka and Andhra Pradesh in the coming year. In the coming years applications like White Cement underbed for the Marble floor and Cement Wash applications shall be attempted to be popularized. Another application, of Wall Putty caught the fancy of the Engineer / Contractor / Architect fraternity and is poised for significant growth in the times to come. RISKS AND CONCERNS In case of White Cement fuel cost plays a vital role. The constant increase in the prices of fuel has been a cause of concern for the industry. Firming up of fuel prices will have a direct impact on cost of captive power generation fuel cost and freight. Due to resistance in the market on account of poor growth rate, the chances for passing on the cost increase to the

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consumers remain very tittle. White Cement business has a large share of trade involvement which makes it open to sell on credit. With a view to restrict level of credit at times the Company has to take risk of losing sales. The high level of credit outstanding in another cause of concern.

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:-

STRENGTH

:-

WEAKNESS

:-

OPPORTUNITY

:-

THREATS

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STRENGTHS :1. J.K. CEMENT possess good brand image in the existing markets which is definitely a par of pavement brick for it. 2.Locatin has always been and important factor in Rajasthan extensive (about 2500 mt) of cement grade limestone available. 3.Sound financial position with adequate profits and capital assets base. 4.Good plant having 10000 tons per day production capacity

WEAKNESSES
1. Low sales as compared to market potential. The market potential of the Udaipur market is high but as compared to it the sales of J.K. Cement is low. 2.Lack of self enthusiasm in the working pattern of the executives as a result the aggressiveness towards sales is low. 3.High complaints of quality deterioration in J.K. super brand. 4.Less advertisement and negligible sales promotion schemes as compared to other brands. 5. Monopoly of dealers is affecting the sales.

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OPPORTUNITIES :1.India is the second larges producer of cement after China but is per capita consumption is very low i.e. around one third of world average and substantially lower as compared to per cpita cement consumption of developing countries. 2.With demand expected to grow at around 8 9 %, additional capacity of 12 million tons per annum will be required to match the damand. With limited green field capacity addition in pipeline for next two years, country is heading towards more favourable demand supply scenario. 3.Explosion of quality yet to be displayd to capture large customers. 4.Competitive prices and may increase the discount and margin structure for retailers and dealers.

THREATS :1.However, with the increased margins there is a possibility of over bunching of capacities in the long term as some of the players have already announced new capacities and the pace of capacity addition may be higher than demand growth. 2.There are many dealers of low profile may cause a loss product performance to grow and prosper. 3.Price flucturatins and price war is general phenomena in the cement industry.

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SUGGESTION
A company would b wise to measure customer satisfactions regularly the key to customer retention is customer satisfaction. Company can increase the role of the retailer by considering their suggestions or complaints about service or product, so that necessary action can be taken. Review meetings should be often held so that the working pattern of the Executives can be checked and improved if needed.

Executives need to be more self-enthusiastic and aggressive towards sales for these appraisals should be given to those executives who worked hard.

Company representatives should visit retailers and should make a long term relationship with the retailer so that they can push the product.

Since customer are value maxi miser and their expectation to this brand is high, as the brand image shows their complaints should be attended immediately to make then remain brand loyal.

It should be checked that the non- trade consignment is not sold in the market, so that is does not disturb the retail price of the market.

Since transportation forms the major part of the cement cost, market potential of the region should be properly accessed so that emphasis can be more on high retention zone, which can be done by employing more authorized retailers.

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CONCLUSION
Cement is still a selling product in country like India. It is the company who has to find the market and go the prospect rather then the client directly approaching to the company. The opening up of the sector has also resulted in stiff competition as many private companies are entering in. so it becomes very important to be the best out of the market . this , the company can achieve by offering value added services to the customers by giving them maximum benefits. Company is trying to given more assured returns to the investors. Mostly products are based on the NAV or they unit Linked so awareness, knowledge and brand image of the will be product the first priority for the company.

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APPENDIX:
Q.1 What is the overall performance and operations of J. K. cements ?

Q.2 What are the under going project in progress ?

Q.3 What is the performance measurement and review of J. K. cement in FY 2011 as compared to the FY 2010 ?

Q.4 What is the outlook of the Cement Industry with respect to J.K. Cement ?

Q.5 What is the Industry structure and development perspective with respect to gray cement & white cement ?

Q.6 What is the segment wise and product wise performance of J.K. Cement ?

Q.7 How Internet Control system and adequacy helps in further strengthening the overall performance of the company ? Q.8 How far Human resources measurement help in J.K. Cement Performance ?

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Q.9 What are the Significant Accounting policies being adopted in J.K. Cement ?

BIBLIOGRAPHY:
BOOKS
Marketing management Principles of marketing Marketing research Statistics Cement Kotler Philip Kotler Philip Beri G .C. Gupta S.C journal of CMA

Business research method Cooper and Schindler

NEWSPAPERS
Business Line . Economic Times.

WEBSITES
www.google.com www.jkcement.org.in

Jitendra Virahyas
JVIRAHYAS@GMAIL.COM

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