Internship Report -FANEM MEDICAL DEVICES INDIA PVT LTD.

CHAPTER – 1

INTRODUCTION ABOUT ORGANIZATION AND INDUSTRY

1.1 INTRODUCTION TO ORGANIZATION

Fig 1.1 Fanem office, Brazil

Fanem is a Brazilian multinational pioneer in the manufacturing of medical and laboratory

equipment. The company was founded in 1924 by Arthur Schmidt who, with the support of his
son Walter Schmidt, introduced innovative techniques and methodologies, charting a
technological course with a high degree of representativeness in the Brazilian health production
chain. In the 40s, Fanem was already the market leader in Brazil and since then it has remained
prominent, being the pioneer in the launch of different products, such as: the first Brazilian
incubator; the first radiant heat crib in Brazil, the first micro processed phototherapy in the world;
among many other innovations that marked the history of Brazilian neonatology.

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The industrial plant is located in Bengaluru. Complementing the extension strategy, Fanem
opened, in 2011, an office in Amman, Jordan, the main company's channel for the Middle East.
Nowadays, Fanem occupies a relevant position in the global healthcare industry, developing
innovative solutions for the health market.

Registered in 2012, Fanem Medical devices India Pvt. Ltd. has made a name for itself in the list
of top suppliers of phototherapy unit in India. The supplier company is located in Bengaluru,
Karnataka and is one of the leading sellers of listed products. Fanem Medical devices India Pvt.
Ltd. is listed in Trade India's list of verified sellers offering supreme quality of LED Phototherapy
Unit etc.

1.2 INTRODCUTION TO MEDICAL DEVICE INDUSTRY

The medical Device industry is an eminent part of the healthcare sector. It includes most of all,
medical devices which simplify the prevention, diagnosis and treatment of diseases and illnesses.
The most well-known medical technology products are, among others, pacemakers, imaging
instruments, dialysis machines and implants. The global medical technology industry’s market size
was worth around 550 billion euros in 2021. Established centers of this industry include the United
States and Western Europe. But industry trends show that Asia and in particular China, are about
to play a more prominent role in the years to come.

1.2.1 HISTORY OF MEDICAL DEVICE INDUSTRY

Medical device technologies are objects, directed by procedures, that are applied against the
hazards of illness. The object is the tangible dimension of technology. The procedure is the focused
and standardized plan that guides the use of the object according to defined purposes.

Some medical technologies are more object-embedded. In them the tangible portion is the principal
functional component. The X ray, artificial kidney, and penicillin are examples. Others
technologies are more procedure-embedded. Their main function is to organize facts, individuals,
and/or other technologies. Examples are the medical record, hospital, and surgical procedures.
Indeed, the common synonym for the surgical procedure, the operation, connotes actions that are
related as parts in a series.

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The iconic example of personal medical devices in this era was the artificial cardiac pacemaker.
Though it was theorised and designed as early as the 1880s, it was only in the relatively
technologically sophisticated 1950s that the idea of a personal, implantable pacemaker became a
reality. The first external pacemaker was developed in 1950 at the University of Toronto and the
first successful internal pacemaker was implanted in a Swedish patient in 1958.

Medical devices were becoming not only novel, but a necessity around the globe – competition
was breeding efficiency, and the rise of automation and nanotechnology further enhanced what
technology was able to accomplish for the human body. The medical manufacturing community
was constantly striving for new ideas, higher quality, and more volume – these people were not
simply in the manufacturing game as capitalists out for the bottom line. They were men and women
who truly believed in their products: medically-minded manufacturers constantly striving for the
next discovery.

1.2.2 MEDICAL DEVICES INDUSTRY IN GLOBAL PERSPECTIVE

The global medical technology industry's market size was worth around 550 billion euros in 2021.
Established centers of this industry include the United States and Western Europe. But industry
trends show that Asia and in particular China, are about to play a more prominent role in the years
to come.

Revenue in the Medical Technology market is projected to reach US$570.70bn in 2023. The
market's largest market is Medical Devices with a projected market volume of US$471.80bn in
2023. Revenue is expected to show an annual growth rate (CAGR 2023-2028) of 4.73%, resulting
in a market volume of US$719.20bn by 2028.

1.2.3 MEDICAL DEVICES INDUSTRY IN INDIA

The healthcare and medical device sectors in India have grown significantly in the last decade. A
wide range of medical devices, from consumables to implantable medical devices, are produced
in India. The majority of medical devices manufactured in India are disposables like catheters,
perfusion sets, extension lines, cannulas, feeding tubes, needles, and syringes, as well as implants
like cardiac stents, drug-eluting stents, intraocular lenses, and orthopaedic implants. The medical

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devices sector is highly capital intensive, and also requires continuous training of the healthcare
system providers to adapt to new technologies.

However, there is still a huge gap in the current demand and supply of medical devices in India,
as India has an overall 70-80% import dependency on medical devices. At present, many medical
device manufacturers (domestic and international) are chasing this massive under penetration of
medical devices in India as a significant growth opportunity.

The government has come up with multiple initiatives and policies to promote India’s medical
device sector. It was recognized as a focus sector in 2014 by the government during the Make in
India campaign.

MEDICAL DEVICES ADVANTAGE INDIA IN FOLLOWING WAYS

INCREASING DEMAND

* Rising number of medical facilities will boost the demand for medical devices in the market.

* Various government initiatives such as ‘Production Linked Incentive (PLI) Scheme for Medical
Devices 2020’ and establishing medical parks will augment demand.

* The medical devices sector in India is projected to reach US$ 50 billion by 2030.

OPPORTUNITIES IN EXPORT

* The Indian medical device market is driven by 70-80% imports from countries such as the US,
China and Germany.

* India and Russia have set the bilateral trade target at US$ 30 billion by 2025. Trade is expected
to increase by an additional US$ 5 billion per annum, with opportunities in pharmaceuticals &
medical devices, minerals, steel, and chemicals.

* Medical devices are a highly attractive export area for US firms.

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POLICY SUPPORT

* In July 2022, the government tabled a draft for the new Drugs, Medical Devices and Cosmetics
Bill 2022, to assure and offer thorough legal protections to ensure that the medical items sold in
India are reliable, efficient, and up to required standards.

* 100% FDI is allowed in the medical devices sector In India. Categories such as equipment and
instruments, consumables and implants attract the most FDI.

INCREASING INVESTMENTS

* This sector has attracted significant investments over the years.

* In FY20, foreign investments in the medical devices sector increased 98% YoY to Rs. 2,196
crore (US$ 301.01 million), as against Rs. 1,108 crore (US$ 151.87 million) in FY19.

* FDI inflow in the medical and surgical appliances sector stood at US$ 2.76 billion between April
2000-December 2022.

1.2.4 MARKET SIZE & SHARE

The medical devices sector in India comprises large multinationals, small and midsized companies.

The size of the Indian medical devices market is estimated at Rs. 90,000 crore (US$ 11 billion) in
2022 and is expected to grow to US$ 50 billion by 2030 with a CAGR of 16.4 %. The Indian
medical device market share in the global market is estimated to be 1.65%.

India is the 4th largest Asian medical devices market after Japan, China, and South Korea, and
among the top 20 medical devices markets globally.

Between 2020-30, the diagnostic imaging market is likely to expand at a CAGR of 16.4%.

Export of medical devices from India stood at Rs. 19, 803 crore (US$ 2.40 billion) in FY22. The
exports of medical devices during April-December, 2022 stood at Rs. 20,511 crore (US$ 2.49
billion), and are expected to rise to US$ 10 billion by 2025.

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1.2.5 GROWTH & INVESTMENTS

Market device market size was valued at USD 62.6 billion in 2021 and poised to grow from USD
63.4 billion in 2022 to USD 134.56 billion by 2030, growing at a CAGR of 11.35% in the forecast
period (2023-2030).

Some major investments and developments in the medical devices sector are as follows:

In May 2023, Omron Healthcare, a Japan-based manufacturer and distributor of personal

healthcare products, announced that it will set up a medical device manufacturing plant in Tamil
Nadu at a cost of US$ 15.5 million (Rs. 128 crore).

Hindustan Syringes & Medical Devices Ltd, in April, 2023, has achieved another milestone of
supplying 1.75 billion syringes of the total 13.3 billion COVID-19 vaccines administered globally.

In March, 2023, Siemens Healthineers, a MedTech company that is into precision medicine,
transforming care delivery, improving the patient experience and digitalizing healthcare,
announced that it would invest Rs. 1,300 crore (US$ 157.2 million) at Bommasandra in Bengaluru
to set up a full-fledged campus.

1.2.6 CONTRIBUTION TOWARDS GDP & ECONOMIC DEVELOPMENT

The medical devices sector in India is a sunrise sector which is growing at a fast pace. The market
size of the medical devices sector in India is estimated to be $11 billion (approximately, ₹ 90,000
Cr) in 2020 and its share in the global medical device market is estimated to be 1.5%.

1.2.7 GOVERNMENT INITIATIVES

The Government of India has commenced various initiatives to strengthen the medical devices
sector, with emphasis on research and development (R&D) and 100% FDI for medical devices to
boost the market.

The Union Cabinet approved the National Medical Devices Policy, 2023 on April 26, 2023. The
National Medical Devices Policy, 2023 is expected to facilitate an orderly growth of the medical
device sector to meet the public health objectives of access, affordability, quality, and innovation.

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The policy is expected to help the Medical Devices Sector grow from the present US$ 11 billion
to US$ 50 billion by 2030.

Under the PLI scheme for Medical Devices, till now, a total of 26 projects have been approved,
with a committed investment of Rs. 1,206 crore (US$ 147 million) to enable growth and innovation
in the MedTech industry and make India as the global hub for manufacturing and innovation in
the coming years.

1.2.8 MAJOR PLAYERS IN MEDICAL DEVICE INDUSTRY

Fig-1 1.2.8 Top medical devices company 2021

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Fig-2 1.2.8 Top medical devices company 2022

1.2.9 FUTURE PROSPECTS

Policy makers in India will need to set out an action plan to reduce the country’s dependency on
medical devices/technology imports. At present, NITI Aayog is reportedly drawing up a strategic
road map for medical devices. Over the next few years, India might grow into a US$ 50 billion
market for medical devices.
In Bio Asia 2021, key stakeholders in the panel discussion on medical technologies predicted that
India would become self-sufficient in domestic medical devices manufacturing by 2025-26. The
panel observed that the government is taking supportive measures such as promoting indigenous
manufacturing of high-tech medical devices, production-linked incentive schemes (PLIs) on

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medical devices, boosting new medical devices parks, etc. to boost the overall growth of the
domestic medical devices market in India.

Medical device companies should develop India as a manufacturing hub for domestic and
international markets, undertake India-based innovation in combination with indigenous
manufacturing, collaborate across the Make in India and Innovate in India schemes, and produce
low to medium technology products to cater to the underpenetrated domestic markets.

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CHAPTER – 2

ORGANIZATION PROFILE

SL NO PARTICULARS

FANEM MEDICAL DEVICE

1 COMPANY NAME
PVT LTD

2 COMPANY LOGO

3 DATE OF INCORPORATION 1924

ESTABLISHMENT OF INDUSTRIAL
4 2012
PLANT IN BENGALURU, INDIA.

TOTAL NO OF DEPARTMENT IN
5 9
ORGANIZATION

6 TOTAL NO OF EMPLOYEES 300

R. ARTHUR CARL
7 ORGANIZATION ADDRESS SCHMIDT, 186 – CUMBICA,
GUARULHOS, BRAZIL
279, GANAPATHY NAGAR,
8 ORGANIZATION B’LORE ADDRESS PEENYA PHASE- 3
BENGALURU

9 CONTACT NO 18004255713

Table 2.0: Organizational profile

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Fig 2.1 Fanem office, India

2.1 BACKGROUND OF ORGANIZATION

Fanem is a multinational company, pioneer in the manufacturing of medical and laboratory

equipment. Almost a century ago, the Schmidt family landed in Brazil bringing with them the
DNA of technological innovation and the desire to contribute to the preservation of human life.

The road was winding, but all their efforts bore many fruits, transforming Fanem® into the pioneer
in the manufacture of different advanced equipment, in the neonatal and laboratory lines.

The company was founded in 1924 by Arthur Schmidt who, with the support of his son Walter
Schmidt, introduced innovative techniques and methodologies, tracing a technological route with
a high level of representativeness in the health products chain.

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Today, we are proud to be present when it is most necessary and, mainly, for our participation in
the different government programs carried out around the world, in the area of Health, such as the
reduction of infant mortality, vaccination campaigns, donation blood, humanized birth, neonatal
transport, among others.

The industrial plant is located in Bengaluru. Complementing the extension strategy, Fanem
opened, in 2011, an office in Amman, Jordan, the main company's channel for the Middle East.
Nowadays, Fanem occupies a relevant position in the global healthcare industry, developing
innovative solutions for the health market.

Currently, we have a total of more than 300 employees, and we are present in more than 100
countries, training and educating professionals and users of Fanem® equipment.

The recognition that we have constantly received from renowned organizations and from
consumers of our products is the result of the seed planted by the Schmidt family who, from the
beginning, dreamed of placing technology at the service of life.

2.2 NATURE OF BUSINESS

Fanem medical devices company is typically involved in the design, development, manufacturing,
and distribution of various medical equipment like Neonatal total care and devices used in the
healthcare industry. These devices can range from simple tools like thermometers and syringes to
more complex equipment such as Ampla 2085, Kangaroo 1085, Incubator fanem 1186 C, Bassinet
fanem, Babypuff 1020, Bilitron 7006 and Bilitron sky 2006. The nature of a medical devices
company can encompass a wide range of activities, including

1. Research and Development: Developing new medical devices and improving existing ones
through research, innovation, and testing.

2. Manufacturing: Producing medical devices with strict quality control to ensure they meet
regulatory and safety standards.

3. Regulatory Compliance: Ensuring that all devices meet regulatory requirements and obtain
necessary approvals or certifications, like FDA approval in the United States.

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4. Marketing and Sales: Promoting and selling medical devices to healthcare providers, hospitals,
clinics, and distributors.

5. Distribution and Supply Chain Management: Managing the distribution of products to

various markets and maintaining an efficient supply chain.

6. Customer Support: Providing support, training, and maintenance services to healthcare

professionals and end-users.

7. Quality Assurance and Safety: Implementing quality control measures to ensure the safety
and efficacy of medical devices.

2.3 VISION, MISSION & QUALITY POLICY

2.3.1 Vision
To be a reference company on the global stage, through innovation in its areas of activity,
intensifying the relationship in its value chain.
2.3.2 Mission
Establish lasting links through the development, production and delivery of reliable and affordable
solutions in the field of health.
2.3.3 Quality Assurance Policy
Fanem is committed to satisfying the needs and expectations of our clients. This level of Quality
is achieved through the development of innovative products, a high level of customer service and
the adoption of a Quality System in accordance with ISO 13485, ANVISA Good Manufacturing
Practices and the European Directives on Medical Devices. Maintaining risk assessment activities
by providing appropriate and adequate resources for the correct implementation and maintenance
of process risk management. We are committed to maintaining the effectiveness of the Quality
Management System. Additionally, our products will comply with applicable standards and
regulatory requirements.

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OUR QUALITY OBJECTIVES

We achieve our objectives by continually managing, measuring and improving all spheres of our
organization, including:

• Long-term relationships and trust with our employees, suppliers and customers
• Skills and knowledge
• Equipment, methods and procedures used
• Operating results
• Improvement of our quality management system in line with the requirements of ISO
13485,
• ANVISA Good Manufacturing Practices and the European Directives on Medical Devices.

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2.4 WORKFLOW MODEL
ELECTRICAL
X RAY TREY
POST BOX
HEATER BASE FRAME, VENDOR 5 –
HOOD COLUMN FLYTECH ACRYUC
VISUPOLY
ASSEMBLY POST, TABLE ENGINEERIN
VENDOR 4 – PRODUCTS
CASTORS, FRAME G
MARUTHI
RED TREY
VENDOR 2- ENGINEERS
VENDOR 1 - FLYTECH
FANEM ENGINEERIN PCB
BRAZIL G ASSEMBLY DRAWERS

VENDOR 3- VENDOR 6 –
CONFIDENT POLYMET
ELECTRONIC DIMENSIONS
S

LABELS

VENDOR 7 –
CUSTOMER PURCHASE ELEGANT
ORDER LABELS

SALES ORDER PACKING

BOX

VENDOR 8 –
INWARD STARLINE
INSPECTION PACKERS
PVT LTD
ISSUE INDENT REJECTED

ACCEPTED
SENT BACK TO
SUPPLIERS
ISSUE SLIP
STORES

ASSEMBLY

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REJECTION

FINAL STORES/VENDOR
INSPECTION

PACKING & DISPATCH

➢ At first the organization will receive the customer purchase order with details about the
product and its services.

➢ The organization will look at the product details and prepare sale order for the product.

➢ The company will look for the availability of the product in store. Suppose the product is
not available in the store, Request will be sent to the production department for the product
requirements.

➢ Production department will look after the description of the product and ask its
vendor/suppliers to deliver the required semi-finished products.

➢ After collecting the semi-finished products, a detailed inward inspection will be conducted
by the production team. If the product is selected without any defect, it will be processed
to store, if the product is rejected it will be sent back to suppliers.

➢ Once the inward inspection is over and the products reaches store, the next step will be
possessed by the production department by issuing slip.

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➢ The production department will assemble the semi-finished product into finished product.

➢ After assembling final inspection will be conducted to check the performance of the
product. If the product gets rejected it will be sent back to store/vendor and if the product
is selected it will be sent for packing and dispatch.

2.5 PRODUCT / SERVICE PROFILE

AMPLA 2085

Ampla 2085, gathering in a modern design, innovative state of art technologies, present a set of
technical resources never before incorporated in a single equipment. It is certainly new concept
of neonatal care.

KANGAROO 1085

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Kangroo 1085, gathering in a modern design, innovative state of art technologies, present a set of
technical resources never before incorporated in a single equipment. It is certainly new concept of
neonatal care.

INCUBATOR FANEM 1186 C

BASSINET FANEM PANDA

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BABYPUFF 1020

The Babypuff 1020 infant resuscitators provides excellent oxygenation safety inflanting the
patent’s lung with a consistent peak inspiratory pressure and excellent control in the positive end
expiratory pressure maintenance.

BILITRON 7006

Bilitron 7006 mobile trolley version, it is an evaluation in reverse and reflective phototheraphy
treatment, it brings ideal for application in newborns for both small large body surface.

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BILITRON SKY 2006

The Bilitron family the most advanced and efficient super LED’s technology for the neonatal
hyperbilirubinemia treatment, since 2004 after the success of Bilitron 3006.

Fanem medical device India Pvt Ltd gives service to all the products which they manufacturers
like Repairs & continuous assistance to the products. It provides Quick response to its customers
and maintain healthy relationship with them.

2.6 OWNERSHIP PATTERN

Parent organization: Fanem is family- owned medical equipment manufacturer, Brazil

Founded: 1924

Fanem medical devices India Pvt ltd is a private company and subsidiary of Fanem, Brazil

Founded: 2011

Board Of Directors: Saurav Upadhyay (IND), Karin Schmidt Rodrigues (BR), Rubens Massaro
(BR)

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2.7 ACHIVEMENTS/ AWARDS

14th Africa Brasil Awards 2019 - African Cultural Center

Top Hospital Award 2011 Maternity Category - IT Mídia

Top Hospital Award 2010 Maternity Category - IT Mídia Best

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Hospital Award 2010 Export Industry Category - ABMS

Exporta São Paulo Award 2010 Progex Category - FACESP

Industry Friendly Company 2010 - CIESP Guarulhos

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Hospital Best Award 2009 Category Exporter of the Year and Company of the Year -
ABMS

P&D Award 2009 Innovation and Technology Category with Ampla 2085 - Editorial
Plan

2.8 FUTURE GROWTH AND PROSPECTS

Fanem medical devices India Pvt ltd focus on continuous development in innovation and high
quality devices that address the evolving needs of healthcare providers and patients in essential
growth of the company and other factors with the organization to improve in future prospects are
market expansion, customer satisfaction, cost efficiency, Technological trends and global
healthcare trends for new born babies.

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CHAPTER – 3

McKENSY’s 7S FRAMEWORK & PORTERS’s FIVE FORCE MODEL WITH SPECIAL

REFERENCE TO ORGANIZATION UNDER STUDY

3.1 McKENSY’s 7S FRAMEWORK

Fig 3.1 McKENSY’s 7S MODEL

The 7S model is a framework for analyzing the organization and their effectiveness as a whole. It
first appeared in the ‘The Art of Japanese Management’ by Richard Pascal and Anthony Athos in
1981. The 7S model was born at a meeting of the four authors in 1978. Mckinsey’s 7S model
decided into two elements. Hard Elements and soft Elements. Hard Elements: are tangible

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elements. They are Strategy, Structure and Systems. Soft Elements: are intangible elements. They
are skills, style, Staff and Shared values.
Hard Elements: Are easier to define or identify and management can directly influence them.
These are strategy statements; Organization charts and reporting lines; and formal processes and
IT systems.

➢ STRATEGY: Strategy is a plan of organization to achieve sustainable

competitive advantage compete in the market.
➢ STRUCTURE: It is the Organization Chart of the firm.
➢ SYSTEM: It is steps, process, procedures of the firm to maintain daily activity.
Soft Elements: On the hand, can be more difficult to describe and are less tangible and influenced
by culture. However, these soft elements are having important as the soft elements if the
association is going to be successful.
➢ SKILLS: These are the abilities of the employee for doing job in the firm.

➢ STAFF: Various departments performing in the organization.

➢ STYLE: It is the way the Company’s Manager by top level managers, how
they interact,what actions do they take and their and symbolic value.

➢ SHARED VALUE: These are the something like a company standard a norm
ormaintain the employees in the firm.

HARD SS SOFT SS

STRUCTURE SKILLS

STRATEGY STYLE

SYSTEM STAFF

SHARED VALUES

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3.1.1 STRUCTURE: HIERARCHICAL ORGANIZATIONAL CHART

Board Of Directors
Karin Schmidt Rodrigues Rubens Massaro Saurav Upadhyay

General manager operations –

Seena R Shetty

Asist manager Executive design & Engineer QA & Asist Executive Admin
HR consultant Certification
sales and service Certification QMS Executive

Finance National sales Asist executive Sr. executive Asist manager

controller manager purchase stores production

Snr. Executive Asst. Executive stores assistant

Accounts Accounts

Reginal manager Reginal Asst manager Executive Executive

central sales & manager north sales & service tenders business
service sales & service business development

Reginal Engineer sales Area manger Territory sales

manager south & service sales & Service manager
& west

Executive sales & Snr. Executive sales & Engineer sales &
service service service

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Asst Engineer Asst Engineer Asst Engineer Asst Engineer Executive QA

production production production production

3.1.2 STRATEGY:

FIRST-MOVER ADVANTAGE: ―pioneering‖ company suggests one holding the relative

12strategic first-mover advantage. However, it is indeed only relative, as new competitors may
come into the market with novel technology or other advantages. Successful pioneering companies
have kept the first-mover advantage over time by knowing how and when to explore the effects of
acquired experience (Ghemawat, 1998), as well as maintaining strong encouragement to R&D
activity – including partnerships with scientific institutions – in enhancement innovation and low
employee turnover. As a pioneer in the manufacturing of medical and laboratory equipment such
as microbiological incubators, autoclaves, refrigerators and cold storage chambers, centrifuges,
diathermy equipment, inactivation baths, etc.

QUALITY: Another highlight at FANEM is the concern of the company with quality control and
the compliance of technical specifications with standards developed by the Associated Brasileira
de Normas Technicians (ABNT) and the pursuit of international certifications, such as ISO
9001:2000 and CE Markings. As sources of competitive advantage, quality control and compliance
with standards feature quite prominently in the literature.

CUSTOMER SERVICE: One aspect that became visible in the course of this study was the
importance to the company of aftermarket service, which focuses mainly on training consumers in
the correct use of the equipment sold; the number of healthcare professionals (nurses, physicians,
etc.) trained by FANEM

PRICING: FANEM’s pricing policy for the domestic market is based on quality and value, which
makes its products the most expensive in the sector and its prices, the reference for competitors.
In the foreign market, policy is to set prices according to those of competitors.

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INNOVATION: Innovation is another point of emphasis for the company. The constant search
for innovation that has always guided FANEM was taught a new lesson: international competition
sustains leadership in the domestic market. In order to become international, an organization must
be familiar with the technologies and processes demanded by different markets; in meeting the
needs of a highly demanding market, competitive advantages are obtained in technologically
underdeveloped markets or markets that do not require special consideration regarding technology
or process appropriateness.

3.1.3 SYSTEM:

Systems is all about responsibility for the policy, policy is nothing but it as a statement which
shows the reputation of Fanem for lawful, ethical and honest business behaviour is fundamental
to the company. System are the procedures and routines that characterise important work that is to
be performed. In Fanem medical devices India Pvt Ltd the systems followed are:
▪ Inventory management system.
▪ Procurement system.
▪ Quality & Safety control system.
▪ Supply chain management system

3.1.4 SKILLS :- Working in Fanem medical devices company often requires skills in areas like

• regulatory affairs
• quality assurance,
• biomedical engineering and product development
• Strong communication and problem-solving skills are crucial, given the highly regulated
nature of the industry.
• Familiarity with relevant standards and compliance requirements is also essential.

3.1.5 STYLE:-Each company acquires a unique style in their organization in order to develop a
company profile. They also follow some leadership styles according to the situation but most of
the time the company follows Autocratic style of leadership which means the leadership style
characterized by individual control over all decisions without much input from group members.

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3.1.6 STAFF:- The following are the staff divided into different department under the company
guidance of Fanem medical devices India Pvt Ltd:

Accounts Department: They maintain Financial Statements such as Balance

sheet, Profit and loss account and also maintain all the financial transactions
regarding income and expenses of the company. Here the Accountant job is
usually based on maintenance of record and also includes external courses like
M.com internal course like SAP (Fico) and also follows as per IT format in this
department it consists 7 staff members.

Purchase Department: They are one who purchase customer wants and verify
them, create a copy of requirements such as drawing or rough copy of goods,
collect all the information work on it, final execute them and send them to PED
for further process and the staff is 5 in number.

Production Department: PD here staff consists of Engineering background they

are the who process the customer requirement they take the drawing which is
provided by purchase department. After analysis they form a rough material into
finished goods and the staff are 10 in numbers .

Quality Department: Here the workmen consist of 5 staff in it and they consists
of Diploma and IT background they testthe finished goods in some cases with the
help of a machine for micro and min test reports once the products/goods are
finalized under quality checkup then it will be called as final finished
goods/product.

Marketing Department: Marketing department consist of 15 staff in it, here the

workmen consist of a Bachelor’s degree in business, marketing, communication
or a related discipline and MBA is required for higher positions.

Research & Development Design: it consists of 6 staff members and they

should consist of bachelor’s degree in engineering and experience as R&D
engineer.

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ISO certification Department: This department consists of 4 members and they
will look after the certification of the products.

Store Department: Store department consists of 3 members and they look after
the activities of the in stores.

MALE STAFF 37

FEMALE STAFF 14

TOTAL STAFF 51

3.1.7 SHARED VALUES: Shared values also represents a shared services team like
‘Person Responsible’ where it lies in its ability to provide innovative and reliable products
that improve patiences outcomes and healthcare efficiency. It’s a combination of

➢ technological advancement
➢ quality manufacturing
➢ positive impact on healthcare delivery.

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3.2 PORTERS’s FIVE FORCE MODEL

Fig 3.2 PORTERS’s FIVE FORCE MODEL

Porter’s Five Force Model that identifies and analyses five competitive forces that shape every
industry and helps determine an industry’s weaknesses and strengths. Five Forces analysis is
frequently used to identify an industry’s structure to determine corporate strategy.

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Porter’s model can be applied to any segment of the economy to understand the level of
competition within the industry and enhance a company’s long-term profitability. The Five Forces
model is named after Harvard Business School professor, Michael E Porter.

According to Porter, the five main forces that can impact the competitiveness of an industry are:

3.2.1 THREATS OF NEW ENTRANTS: MODERATE

New entrants refer to new companies interested in developing and commercializing medical
devices technology. The threats of new entrants would be moderate in the medical device sector
based on the following factors:
• Growth of medical devices industry
• Demand for innovative, cost effective and efficient devices.
• Acquisition of emerging medical device technology companies by large more established
companies.

3.2.2 THREATS OF SUBSTITUTES: MODERATE

The substitutes in this analysis refers to new products that may offer an alternative to consumer
over a particular company’s product. In medical device company the threats of substitutes is
moderate due to the following factors
• Emerging technologies that offers similar or better outcomes
• Favouring new types of treatments
• Cost effective without reducing the quality of alternatives

3.2.3 BARGAINING POWER OF BUYERS: HIGH

Buyers in this competitive analysis refers to those who hold the healthcare business. When it comes
to bargaining power of buyers it would be High in the medical device manufacturing sector based
on the following factors:

• Few buyers and many sellers

• Differentiation of products
• Demanding for new technologies

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3.2.4 BARGAINING POWER OF SUPPLIERS: LOW
Suppliers in this analysis refers to the vendors or suppliers who supplies semi-finished goods to
the Fanem medical device company. The bargaining power of the suppliers is low based on the
following factors:
• Large number of suppliers
• Availability of similar & exact alternatives
• Same quality of materials from ISO Certified suppliers

3.2.5 RIVALRY AMONG EXISTING COMPETITORS: HIGH

Existing competitors refers to those companies in the medical device manufacturing business of
developing the medical device technologies. The rivalry among the competitors is high due to the
following factors.
• Similar technology sources
• Increased rivalry for financial sources
• Switching to other company products can be done easily.

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CHAPTER – 4

SWOT ANALYSIS

Fig 4.1 SWOT Analysis Model

INTRODUCTION
Strengths and Weakness are frequently internally related, while opportunities and threats
commonly focus on the external environment.

• STRENGTHS:

Characteristics of the business or project that gives it an advantage over others.

• WEAKNESS:

Characteristics of the business that place the business or project at a disadvantage

relative to other.

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• OPPORTUNITIES:

Element in the environment that the business or project could exploit to its advantage.

• THREATS:

Element in the environment that could cause trouble for the business or project.

4.1 STRENGTHS:

➢ Feature & Quality of the product

➢ Safety and Assurance
➢ International standard certifications
➢ Experience of 100 years in medical device industry
➢ Good brand name and brand image
➢ Technological aspects
➢ Low cost compares to competitors in market
➢ Research & Development

4.2 WEAKNESSESS:

➢ More time consuming in manufacturing

➢ Cashflow issue
➢ More dependency on suppliers

4.3 OPPORTUNITIES:
➢ Associating with bigger brand/Distributor
➢ Filling market gap with new innovation
➢ Acquiring the market with the absence of competitors

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4.4 THREATS:

➢ International competitors
➢ Substitute products
➢ Bargaining power of the suppliers
➢ Changing government policy and rules.

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CHAPTER – 5

ANNALYSIS OF FINANCIAL STATEMENT

Fig 5.0 Financial statement analysis

Financial statements are reports prepared by a company’s management to present the financial
performance and position at a point in time. A general-purpose set of financial statements usually
includes a balance sheet, income statements, statement of owner’s equity, and statement of cash
flows. These statements are prepared to give users outside of the company like investors and
creditors, more information about the company’s financial positions. Publicly traded companies
are also required to present these statements along with others regulatory agencies in a timely

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manner. Financial statements are the main source of financial information for most decision
makers.

In financial statement 3 types

• Income statement

• Profit and loss account

• Balance sheet

Income Statement: an income statement is one of the three important financial statements used
for reporting a company’s financial performance over a specific accounting period, withthe other
two key statements being the balance sheet and statement of cash flows. Also known as the profit
and loss statement or the statement of revenue and expenses, the income statement primarily
focuses on company’s revenues and expenses during a particular period.

Profit and Loss Account: An account in the books of an organization to which incomes and gains
are credited and expenses and losses are debited, so as to show the net profit or loss over a given
period. A financial statement showing a company’s net profit and loss in a givenperiod.

Balance Sheet: balance sheet shows the true financial position of the business on a specific date
i.e., at the end of an accounting period the total assets and liabilities must be equal. While preparing
a balance sheet the following steps must be considered.

5.1 RATIO ANALYSIS:

Ratio analysis compares line-item data from a company’s financial statements to reveal insights
regarding profitability, liquidity, operational efficiency, and solvency. Ratio analysis can make
how a company is performing over time, while comparing a company to another within the same
industry or sector.

There are 4 types of Ratios:

• Liquidity Ratio
• Profitability Ratio

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• Solvency Ratio
• Activity or Turnover Ratio

5.1.1 CURRENT RATIO:

Current ratio is a comparison of current assets to current liabilities, calculated by dividing current
assets by current liabilities. Potential creditors use the current ratio to measure a company’s
liquidity or ability to payoff short term debts.

𝐂𝐔𝐑𝐑𝐄𝐍𝐓 𝐀𝐒𝐒𝐄𝐓S
CURRENT RATIO =
𝐂𝐔𝐑𝐑𝐄𝐍𝐓 𝐋𝐈𝐀𝐁𝐋𝐈𝐓𝐈𝐄𝐒

Current
Year Current Assets Current Liabilities
Ratio

2018-2019 30,962,320 16,550,460 1.870

2019-2020 39,794,635 20,638,414 1.928

2020-2021 53,277,181 28,629,376 1.860

2021-2022 121,257,351 87,574,677 1.384

2022-2023 91,303,781 88,561,679 1.039

Table 5.1.1 showing Current Ratio

ANALYSIS:

From the above table shows the Current Ratio for the year 2019, 2020, 2021,2022,2023. The data
indicates that Current ratio of the company is decreasing year by years. For the year 2018-2019
the ratio is 1.870:1, in the year 2019-2020 the current ratio is 1.928:1, for 2020-2021 the current
ratio is 1.860:1, for 2021-2022 the Current ratio is 1.384: 1 & for 2022-2023 the ratio is decreasing
to 1.039:1 compare to previous years.

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C U R R E N T R AT I O

2 1.928
1.87 1.86
1.8

1.6
1.384
1.4

1.2
1.039
1

0.8

0.6

0.4

0.2

0
2018-2019 2019-2020 2020-2021 2021-2022 2022-2023

Graph 5.1.1 showing the current ratio of Fanem medical device India pvt ltd

INTERPRETATION:

From the above graph shows current ratio of 2019-2020 is improved compared to 2018-2019. The
ratio is Decreasing from the year 2020-2023 because of making certain changes in day-to-day
operational strategy and procedures by the company.Current ratio for the year 2022-23 Decreased
compared to previous year and the company’s financial position is not up to the mark.

5.1.2 INVENTORY TURNOVER RATIO:

It is a ratio showing how many times a company has sold and replaced inventory during a
givenperiod. A company can then divide the days in the period by the inventory turnover
formula to calculate the days it takes to sell the inventory on hold.

INVENTORY TURNOVER RATIO = NET SALES

INVENTORY

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Year Net sales Inventory Inventory

turnover ratio
(Times)
2018-2019 56,974,475 987,155 57.71
2019-2020 57,739,865 8,879,829 6.50
2020-2021 76,849,752 24,779,785 3.10
2021-2022 176,426,751 38,911,377 4.53
2022-2023 135,748,842 29,656,924 4.57
Table 5.1.2 showing the Inventory turnover ratio of the company.

ANALYSIS:
From the above table shows the Inventory turnover ratio for the year 2020, 2021,2022. For
the year 2018-2019 the Turnover ratio is the highest that is 57.71 times and in year 2020-
2021 the ratio is the lowest that is 3.10 times. The inventory turnover ratio is increased to
4.57 times in the 2022-2023 compare to previous year 2021-2022.

I N V E N TO R Y T U R N O V E R R AT I O ( T I M E S )

60 57.71

50

40

30

20

10 6.5
3.1 4.53 4.57

0
2018-2019 2019-2020 2020-2021 2021-2022 2022-2023

Graph 5.1.2 showing the inventory turnover ratio of the company

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INTERPRETATION:

From the above graph shows that the Inventory turnover ratio is Fluctuating comparing over the
years. The company performed the activities of selling and replacing the inventory many times.
The ratio is increased to 4.57 times in the year 2022-2023 when it is compared to past two year.

5.1.3 RETURN ON CAPITAL EMPLOYED OR INVESTMENT RATIO

Return on capital employed is an accounting ratio used in finance, valuation and accounting. It is
a useful measure for comparing the relative profitability of the company after taking into account
the amount of capital used.

RETURN ON CAPITAL EMPLOYED = EARNING BEFORE INTREST & TAX × 𝟏𝟎𝟎

CAPITAL EMPLOYED

Return on
Earnings Before Capital
Year Capital Employed
Interest & Tax Employed
(%)
2018-2019 4,991,754 16,014,523 31.1
2019-2020 4,690,535 20946320 22.4
2020-2021 8,879,121 28302019 31.4
2021-2022 8,946,826 35649425 25.1
2022-2023 -29,909,097 5,444,928 -549.30
Table 5.1.3 showing Return on capital employed ratio of the company

ANALYSIS:

From the above table shows the Return on capital employed for the year 2019,2020, 2021,2022
& 2023. The Return on capital employed accounting ratio for the year 2018-2019 is 31.1%, for
the year 2019-2020 is 22.4%, for the year 2020-2021 the ratio is 31.4%, in the year 2021-2022
the ratio is 25.1% & in 2022-2023 the ratio is fallen into negative that is -549.30%. The ratio is
fluctuating over the year.

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R E T U R N O N C A P I TA L E M P LOY E D ( % )
100
31.1 22.4 31.4 25.1
0
2018-2019 2019-2020 2020-2021 2021-2022 2022-2023
-100

-200

-300

-400

-500

-600 -549.3

Graph 5.1.3 showing Return on capital employed ratio of the company

INTERPRETATION:

From the above graph shows that the Return on capital employed accounting ratio is Fluctuating
comparing over the years. In 2022-2023 the ratio is fallen into negative that is -549.30% which is
not good sign for the company.

5.1.4 OPERATING PROFIT RATIO

Operating profit ratio is referred to as the ratio that is used to define a relationship between the
operating profit and the net sales. Operating profit is also known as Earning before interest and tax
and net sales also can be defined as the revenue that is earned form the operations.

OPERATING PROFIT RATIO = OPERATING PROFIT × 100

NET SALES

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Operating
Year Operating profit Net sales profit ratio
(%)
2018-2019 4,262,542 56,974,475 7.4
2019-2020 -2,645,547 57,739,865 -4.6
2020-2021 4,618,406 76,849,752 6.0
2021-2022 6,338,311 176,426,752 3.6
2022-2023 -29,597,578 135,748,842 -21.8
Table 5.1.4 showing Operating Profit ratio of the company

ANALYSIS:-

From the above table shows the Operating profit ratio for the year 2019,2020, 2021,2022 & 2023.
The ratio for the year 2019-2020 & 2022-2023 both falls in negative that is -4.6% & -21.8%, in
the year2018-2019 the ratio is 7.4%, in 2020-2021 the ratio increased to 6% compare to previous
year & for the year 2021-2022 the ratio is decreased to 3.6% compare to preceding year.

O P E R AT IN G P R O F IT R AT I O ( % )
10 7.4
6
5 3.6

0
2018-2019 2019-2020 2020-2021 2021-2022 2022-2023
-5
-4.6
-10

-15

-20

-25 -21.8

Graph 5.1.4 showing Operating Profit ratio of the company

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INTERPRETATION:
From the above graph shows that the Operating profit ratio is Fluctuating comparing over the
years. In the year 2019-2020 & 2022-2023 the ratio was in negative that is -4.6% & -21.8% which
is not good sign to the company, 7.4% is the highest in the year 2018-2019.

5.1.5 TOTAL ASSETS TURNOVER RATIO

The Total assets turnover ratio formula is equal to net sales divided by the total or average assets
of a company it measures the amount of revenue a company generates per dollar of assets. A
company with a high asset turnover ratio operates more efficiently as compared to competitors
with a lower ratio.

TOTAL ASSETS TURNOVER RATIO = NET SALES

TOTAL ASSETS

Total assets
Year Net sales Total assets turnover ratio
(Times)
2018-2019 56,974,475 33,686,992 1.69
2019-2020 57,739,865 42,986,667 1.34
2020-2021 76,849,752 58,494,869 1.31
2021-2022 176,426,752 124,662,864 1.41
2022-2023 135,748,842 95,880,581 1.41
Table 5.1.5 showing Total assets turnover ratio of the company

ANALYSIS:
From the above table shows the Total assets turnover ratio for the year 2019,2020,
2021,2022,2023. For the year 2018-2019 the total assets turnover ratio is 1.69 times, in 2019-2020
the Ratio is 1.34 times, in the year 2020-2021 the ratio is decreased to 1.31times & in 2021-2022
& 2022-2023 the ratio is increased to 1.41 times which is constant for both years.

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T O TA L A S S E T S T U R N O V E R R AT I O ( T I M E S )

1.8 1.69

1.6
1.41 1.41
1.4 1.34 1.31

1.2

0.8

0.6

0.4

0.2

0
2018-2019 2019-2020 2020-2021 2021-2022 2022-2023

Graph 5.1.5 showing Total assets turnover ratio of the company

INTERPRETATION:
From the above graph shows that the Total assets turnover ratio is Fluctuating comparing over the
years. In the year 2018-2019 the ratio is 1.69 times which is the highest and 1.31 times is the lowest
in the year 2020-2021. In 2021-2022 & 2022-2023 has maintained constant value that is 1.41
times.

5.1.6 NET WORKING CAPITAL

Net working capital is the difference between a business short-term asset and its short-term debts
and liabilities. It is ideal to have a positive net working capital, as signifies that the company’s
financial obligations are met, and it can invest in other operational requirements.

NET WORKING CAPITAL = CURRENT ASSETS – CURRENT LIABILITIES

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Net working
Year Current Assets Current Liabilities
capital
2018-2019 30,962,320 16,550,460 14,411,860
2019-2020 39,794,635 20,638,414 19,156,221
2020-2021 53,277,181 28,629,376 24,647,805
2021-2022 121,257,351 87,574,677 33,682,674
2022-2023 91,303,781 88,561,679 2,742,102
Table 5.1.6 showing Net working capital of the company
ANALYSIS:

From the above table shows the Net working capital for the year 2019,2020, 2021,2022,2023. The
data indicates that the net working capital is increasing from the years 2019-2022 gradually but in
the year 2022-2023 the net working capital decreased to 2,742,102 compare to previous years.

N E T W O R K IN G C A P I TA L
3,36,82,674
3,50,00,000

3,00,00,000
2,46,47,805
2,50,00,000
1,91,56,221
2,00,00,000
1,44,11,860
1,50,00,000

1,00,00,000

50,00,000 27,42,102

0
2018-2019 2019-2020 2020-2021 2021-2022 2022-2023

Graph 5.1.6 showing Net working capital of the company

INTERPRETATION
From the above graph shows that the Net working capital is gradually increasing comparing to
previous years from 2019-2022. In the year 2022-2023 it has decreased to 2,742,102. 2021-2022
the net working capital is increased to 33,682,674 compare to previous years. Net working capital
of the company is in positive so the company can meet their financial obligations.

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CHAPTER – 6

LEARNING EXPERIENCE

The main objective of undergoing this training is to get the practical exposure of the functional
department of the organization such as marketing, human resources, production department etc.
The study was successful in understanding the extent of technology and the organizations various
functions and activities performed. Its main objective is to satisfies the customers those who
always look for the best. Basically, FANEM MEDICAL DEVICES INDIA PVT LTD is a
company which performs Business 2 Business where it concentrates on hospitals and it applies
many strategies which can make the products Qualitative & affordable compare to the competitors.
The study helped in improving practical knowledge about the organizational activities performed
by the company and gained confidences and awareness about the competitive world.

The interaction with employees of the company gave me an insight and a hard experience of the
industrial scenario in the competitive environment outside the institute. It was truly an eye opener
as I could see the theoretical concepts that I had learnt within the four walls of my classroom being
practiced in real life situation. I could understand that understanding the theoretical concept is
import to execute the practical part.

This study helped in gaining valuable insights in understanding how business impacts various facts
and finally affects the profit ability of a business enterprise. Here each and every department is
aiming to achieve the primary goal of Organization that is brand building and serving quality
products. All the departments of the organization are interdependent and the workflow model of
the organization is smooth in running the business. Overall experience in the training was so
pleasant and special mentioning of Ms Seena R Shetty - General Manager and Nandini. M – Snr
Executive Accounts for guiding me throughout my internship and helping me to complete my
Report. The working conditions were encouraging in the company’s atmosphere.

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BIBLIOGRAPHY

BOOKS:

Name of the Year of

Title of the Book Name of the Publisher Edition
Author Publication

Management of
Khan. M & Jain. P financial Mc Graw Hill 8th 2018
accounting
K. Aswathappa & Human Resource
Mc Graw Hill 10th 2023
Sadhna Dash management
Azhar Kazmi & Strategic
Mc Graw Hill 5th 2020
Adela Kazmi Management

WEBSITES:

✓ https://fanem.com.br/en/

✓ https://www.ibef.org/
✓ https://www.linkedin.com/company/fanem/
✓ https://www.justdial.com/jdmart/Bangalore/

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ANNEXURE:
Profit and Loss Account of Fanem medical device India Pvt Ltd as on 2019-2023

Particulars Note As at As at As at
31.12.2019 31.12.2020 31.12.2021
Revenue from Operations 56,974,475 57,739,865 76,849,752
Other income 1,068,482 7,573,190 4,477,126
Total income [A] 58,042,957 65,313,055 81,326,878

Expenses:
Cost of materials consumed/ 32,883,623 38,974,353 47,632,292
purchases
Purchase of stock in trade 00 00 00
Changes in Inventories -252,320 -2,681,859 2,049,361

Employee Benefit Expenses 11 6,966,401 10,738,647 10,905,554

Financial costs 12 102,416 197,045 00
Depreciation & Amortization 13 339,270 237,108 216,411
Other Expenses 14 13,114,229 13,354,271 11,644,139
Total Expenses [B] 53,153,619 60,819,565 72,447,757

Profit before exceptional 4,889,338 4,493,490 8,879,121

&
extraordinary items & tax [A-B]
Exceptional items - - -
Profit before Tax 4,889,338 4,493,490 8,879,121
Tax Expenses 00 -438,307 1,523,422
Profit after Tax 4,889,338 4,931,797 7,355,699

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Particulars Note As at As at
31.12.2022 31.12.2023
Revenue from Operations 176,426,752 135,748,842
Other income 3,372,878 80,324
Total income [A] 179,799,630 135,829,166

Expenses:
Cost of materials consumed/ purchases 131,288,531 108,734,243
Purchase of stock in trade 00 00
Changes in Inventories -212,815 -4,113,695

Employee Benefit Expenses 11 13,798,164 16,619,948

Financial costs 12 00 300,501
Depreciation & Amortization 13 764,363 391,843
Other Expenses 14 25,214,561 44,105,924
Total Expenses [B] 170,852,804 166,038,764

Profit before exceptional & 8,946,826 -30,204,598

extraordinary items & tax [A-B]
Exceptional items - -
Profit before Tax 8,946,826 -30,204,598
Tax Expenses 1,599,419 -5,101
Profit after Tax 7,347,407 -30,204,497

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BALANCE SHEET of Fanem medical device India Pvt Ltd as on 2019-2023 (in INR)

Particulars Note 31/12/2019 31/12/2020 31/12/2021

Equity & Liability

Share Holder’s Fund

Share capital: 1
Authorized capital 3,000,000 3,000,000 3,000,000
Paid up capital - - -
Reserves and surplus 2 13,014,523 17,946,320 25,302,019
Total Shareholder Fund 16,014,523 20,946,320 28,302,019
Non-current 1iabi1ity
Long term borrowings 3 00 00 00
Deferred tax liability 00 00 00
Long term provisions 1,122,009 11,401,943 1,563,474
Total Non-Current Liability 1,122,009 11,401,943 1,563,474
Current 1iabi1ities
Short-term borrowings 4 6,764 00 00
Trade payables 13,642,651 17,996,910 23,705,472
Other Current liabilities 5 1,627,343 1,612,056 2,730,310
Short term provisions 6 1,273,702 1,029,448 2,193,594
Total Current Liability 16,550,460 20,638,414 28,629,376
Total 33,686,992 42,986,677 58,494,869

ASSETS
Non-current assets
Fixed Assets 7
Tangible Assets 722,844 701,882 646,483
Intangible Assets 11,474 4,228 917,092
Total Net Fixed Assets 734,318 706,110 1,563,575
Other Non-current Assets
Net Deferred Tax Assets 00 438,308 393,114

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Long term loans & advances 1,990,354 2,047,624 00
Other Non-current Assets 00 00 3,260,999
Total Non-Current Assets 1,990,354 2,485,932 3,654,113

Current assets
Inventories 987,155 8,879,829 24,779,785
Trade receivables 8 20,888,083 15,522,624 16,587,669
Cash & cash equivalents 9 5,586,148 11,015,124 4,226,304
Short Term Loans & Advances 10 1,618,206 1,793,142 5,017,190
Other current assets 1,882,728 2,583,916 2,666,233
Total Current Assets 30,962,320 39,794,635 53,277,181
Total 33,686,992 42,986,677 58,494,869

Particulars Note 31/12/2022 31/12/2023

Equity & Liability

Share Holder’s Fund

Share capital: 1
Authorized capital 3,000,000 3,000,000
Paid up capital - -
Reserves and surplus 2 32,649,426 2,444,928
Total Shareholder Fund 35,649,426 5,444,928
Non-current 1iabi1ity
Long term borrowings 3 00 00
Deferred tax liability 00 00
Long term provisions 1,438,761 1,873,974
Total Non-Current Liability 1,438,761 1,873,974
Current 1iabi1ities
Short-term borrowings 4 00 4,243,068

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Trade payables 10,049,106 48,846,819
Other Current liabilities 5 15,203,056 34,702,935
Short term provisions 6 2,322,515 768,857
Total Current Liability 87,574,677 88,561,679
Total 124,662,864 95,880,581

ASSETS
Non-current assets
Fixed Assets 7
Tangible Assets 527,772 551,269
Intangible Assets 346,259 133,231
Total Net Fixed Assets 874,031 684,500
Other Non-current Assets
Net Deferred Tax Assets 444,358 449,458
Long term loans & advances 00 00
Other Non-current Assets 2,087,124 3,442,842
Total Non-Current Assets 2,531,482 3,892,300

Current assets
Inventories 38,911,377 29,656,924
Trade receivables 8 45,996,861 46,121,477
Cash & cash equivalents 9 22,748,230 954,959
Short Term Loans & Advances 10 11,010,176 12,112,909
Other current assets 2,590,707 2,457,512
Total Current Assets 121,257,351 91,303,781
Total 124,662,864 95,880,581

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